World Markets – USA – Fair Value Report – February

Markets have reacted to the scare of the Novel Coronavirus (2019-CoV) with very little data. So far, 2019-CoV appears to be less harmful than either MERS or SARS. If we peel away the swings that appear to be created by quick reactions to the virus and concentrate on factual data such as earnings and revenues, we can see a picture where market price levels are moving slightly ahead of earnings support.

World Markets – USA – Fair Value Changes – January 2020

Cable ONE and Delta Air Lines increase in fair value while PNC Financial and UnitedHealth Group move lower.

World Markets – USA – Consideration Changes – January 2020

Ruth’s Hospitality, Sprouts Farmers Market, Titan International and unum all move to BUY while Banc of California moves to SELL

World Markets – USA – Fair Value Report

Earnings continue to dominate influence at 41.4% nearly 1/3 more influence than either revenues or dividends. For LargeCap stocks the influence of earnings is double that of revenue, but dividends nearly match earnings at 44.5%. In SmallCap the relationship changes to where earnings and revenues are nearly matched, but dividends places well behind in influence at 18.7%.

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