On today's episode of Free Lunch, Associate Stock Strategist Ryan McQueeney recaps earnings results from Oracle and FedEx, discusses Trump's new tariff announcement, and explains why Facebook and Macy's have teamed up. Later, the host is joined by Dave Bartosiak to chat about Nio, the so-called Tesla of China.
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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
As expected, President Donald Trump announced new 10% tariffs on $200 billion worth of Chinese goods yesterday afternoon. These charges will increase to 25% at the end of the year. China has said it is ready to counter the move with new tariffs on $60 billion in U.S. goods-a retaliatory strategy which might trigger the White House to initiate "Phase 3" of its tariff plan.
Wall Street sold off stocks in preparation for the tariff announcement Monday, but markets were rebounding on Tuesday morning, despite mixed earnings results from software giant Oracle ORCL and shipping behemoth FedEx FDX .
Oracle missed revenue estimates but managed to top expectations on the bottom line, while FedEx underperformed in terms of profits per share yet raised its own full-year earnings guidance. Nevertheless, both stocks were in the red on Tuesday morning.
Elsewhere, investors were reacting to a unique partnership between Macy's M and Facebook FB . The department store retailer is apparently teaming up with the social media king to help bring nearly 150 new brands, many of which are small businesses or online brands, to nine physical Macy's locations during the holidays.
Macy's will also reportedly work to expand its virtual and augmented reality furniture shopping experiences, further underscoring the retail industry's desire to push the technology envelope this busy season.
Make sure to check out the first half of today's show for Ryan's opinion on all of this news!
But don't forget to watch the second half of the episode, where Ryan is joined by Dave Bartosiak to discuss the IPO of Nio Inc. (NIO).
As Dave explains, this Chinese electric car maker has put together an impressive lineup of three unique EVs, including an ultra-sporty sedan and two SUV-like models. Also, the company is uniquely positioned to succeed as it can avoid tariffs in China and grow as the country mandates a shift to electric vehicles.
Dave and Ryan discuss the merits of Nio from a car lover's perspective and an investing perspective, so you won't want to miss that chat. Also, the pair field questions from the audience about Callaway Golf ELY , Red Hat RHT , Cypress Semiconductor CY , and Tesla TSLA . Don't miss it!
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