Weekly Market Movers: Discount Stores on Top, European Regional Banks Drop

December 2, 2019

Last week, the Discount Stores industry saw a significant sentiment increase of 57 points. Walmart Inc. and Burlington Stores Inc. were among the main drivers in the category with the highest sentiment scores reaching 41 points and 53 points respectively.

Walmart has beaten forecasts by reporting strong Q3 earnings results on 14 November. In addition to that, the supermarket giant was the target of a large decline in short interest in the past month whilst various research analysts have boosted their price target on shares of Walmart. 

At the same time, Burlington Stores posted its earnings results on Tuesday, November 26th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.41 by $0.14.

Last week, ‘European Regional Banks’ was the worst performing industry with a sentiment decrease of 41 points. Deutsche Bank AG and Turkiye Halk Bankasi AS ranked bottom in the category.

Reuters reported that the U.S. Department of Justice has stepped up its investigation into Deutsche Bank’s role in the 200 billion euro Danske Bank money laundering scandal. Furthermore, a former Deutsche Bank executive who signed off loans for Donald Trump’s Doral resort killed himself on November 19, according to a New York Times report.

Meanwhile, Halkbank’s troubles continue to worsen: a judge in New York on Wednesday rejected an appeal by litigators from law firm King & Spalding to appear in court on Halkbank’s behalf in a money laundering and sanctions evasion case filed against it. Prosecutors originally issued an indictment on Oct. 16 against Halkbank on charges of engaging in a multi-billion-dollar scheme to evade U.S. sanctions on Iran.

Notes:

1 Companies that contributed most to last week’s industry sentiment change.

2  Top trending event related to the respective company.

3  Weekly aggregated company sentiment score (ranging from -100 to +100).

4  Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).

*Industry name and classification as per Morning Star

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