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SkyHigh Stocks and S&P Surprises · The SPY Trader

• 0:00
  Welcome to another episode of Spy Trader,
• 0:03
  your goto podcast for everything S&P 500!
• 0:06
  It's your host,
• 0:07
  Chuckles McMoneybags,
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  here to bring you the latest financial news and insights,
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  It's 6:00 AM on September 26,
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  2024,
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  so let's get right into it!
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  First,
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  let's summarize the big news items affecting the S&P 500:
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  Southwest Airlines (NYSE: LUV): Announced a $2,
• 0:27
  5 billion share repurchase program,
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  Controlled hiring costs and better labor cost management,
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  Q3 revenue outlook shows 23% growth,
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  Lower fuel costs expected between $2,
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  50 and $2,
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  60 per gallon,
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  Longterm goals: $4 billion in additional EBIT by 2027,
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  ROIC of 15%,
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  Planned seat assignment changes for 2025,
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  In premarket trading,
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  LUV was up 6,
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  45%,
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  2,
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  Micron Technology (NASDAQ: MU): Q1 revenue forecast of $8,
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  5$8,
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  9 billion driven by AI demand,
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  surpassing expectations,
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  Fiscal Q4 showed a 93% revenue increase yearoveryear,
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  Strategic partnerships with Nvidia reinforce strong market positioning,
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  Analysts maintain "outperform" ratings,
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  3,
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  Costco (NASDAQ: COST): Releasing Q4 earnings with expectations of $5,
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  08 per share and $79,
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  97 billion in revenues,
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  Truist Securities downgraded to "Hold" with a $873 price target,
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  Dividend yield of 0,
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  51%,
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  4,
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  Asian Market Dynamics: Positive momentum due to a weaker yen and Chinese stimulus measures stabilizing growth,
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  5,
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  Weak US Housing Data: New home sales decreased,
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  but lower mortgage rates could boost future demand,
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  Now,
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  let's dive into the analysis and insights:
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  potentially boosting earnings per share,
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  Lower fuel costs and a strong revenue outlook for Q3 make it an attractive pick in a volatile market,
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  Longterm goals and customerfriendly changes suggest adaptability and growth prospects,
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  Micron Technology: Micron's earnings and optimistic forecasts are driven by AIrelated chip demand,
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  Strategic partnerships and surpassing revenue expectations indicate strong future positioning,
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  Analysts' positive ratings and the impact on other tech stocks underscore AI's role in the sector's growth,
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  Costco: Despite a recent downgrade,
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  Costco's high earnings expectations and historical performance make it strong,
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  However,
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  the low dividend yield may deter incomefocused investors,
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  keeping its growth potential compelling for others,
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  Asian Markets and US Housing: Chinese stimulus measures could positively impact global markets,
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  including the S&P 500,
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  Lower mortgage rates might revive the housing market despite recent setbacks,
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  Trading Recommendations:
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  Buy: Southwest Airlines (NYSE: LUV),
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  The repurchase plan,
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  improved revenue outlook,
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  and cost management make it a solid pick,
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  The introduction of seat assignments shows strategic adaptability,
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  2,
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  Buy: Micron Technology (NASDAQ: MU),
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  Soaring AIrelated chip demand and strong partnerships position Micron for future tech sector growth,
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  3,
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  Hold: Costco (NASDAQ: COST),
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  Strong fundamentals but a recent downgrade suggests caution,
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  Await the Q4 earnings report for better performance insights,
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  Why did the accountant break up with the calculator?
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  It couldn't handle the right operations,
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  That's a wrap for this episode of Spy Trader!
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  Keep an eye on these stocks,
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  stay informed,
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  and happy trading!
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  This is Chuckles McMoneybags signing off!