Barron\'s 03.16.2020

M36 BARRON’S March 16, 2020

SELECTEDINITIALPUBLICOFFERINGS

Initial Most

Ticker Offer IPO Recent %

Code Price Date Price Chg

Imara IMRA 16.00 3/12 16.00 0.0%

DFPHealthcare DFPHU 10.00 3/11 10.00 0.0%

Latest Latest Preceding Year YroYr

Date Data Period Ago %Chg

PULSEOFTHEECONOMY

Onlyincludesnewreports.
Latest Latest Preceding Year YroYr
EconomicGrowthandInvestment Date Data Period Ago %Chg

No Activity for this Week

Production

Electric power, (mil. kw hrs) (EEI) .................................................. Mar 7 72,083 74,610 81,453 –11.50

Petroleum, related capacity, % ...................................................... Mar 6 86.4 86.9 87.6 –1.37

Rotary rigs running, U.S. & Can., (Hughes).................................... Mar 13 967 996 1,187 –18.53

Steel, (thous. tons)........................................................................ Mar 7 1,903 1,923 1,941 –1.96

Steel, rated capacity, % (AISI)........................................................ Mar 7 81.6 82.5 83.4 –2.16

ConsumptionandDistribution

Instinet Research Redbook Avg. (monthly %)................................ Mar 7 –0.09 –0.05 –4.97 ....

Baltic Dry Index ............................................................................. Mar 12 633 617 730 –13.29

Inventories

Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) ........... Mar 6 451,783 444,119 449,072 0.60

Gasoline, (thous. bbls) .................................................................. Mar 6 246,999 252,048 246,090 0.37

Orders

No Activity for this Week

Trade

No Activity for this Week

Inflation

JOC–ECRI Industrial Price Index f.................................................. Mar 13 83.15 87.09 97.48 –14.70

Consumer price index b (unadjusted) ............................................ Feb 258.7 258.0 252.8 2.33

Producer price index (finished goods) c......................................... Feb 206.0 207.8 203.1 1.43

Rate of inflation, % (annual, unadjusted)........................................ Feb 2.3 2.5 1.5 ....

Employment

Initial jobless claims (thous.) ........................................................ Mar 7 211 r215 224 –5.80

Continuing claims (mil.) ................................................................ Feb 29 1.722 r1.733 1.757 –1.99

Help Wanted Online –Ads (thous,) ................................................. Feb 5,647.7 5,633.3 5,444.3 3.74

Small Business Optimism Index .................................................... Feb 104.5 104.3 101.7 2.75

Construction

No Activity for this Week

OtherIndicators

Citi Research Panic–Euphoria Reading .......................................... Mar 13 0.10 r0.29 0.15 ....

a-1997equals100.b-1982-84equals100.c-1982equals100.f-1996equals100.h-benchmarkrevision,2016equals100.r-Revised.

Market Laboratory

DOWJONESU.S.TOTALMARKETINDUSTRYGROUPS

NetChange %ChangeandRanking 52Week
Top20WeeklyRanked IG-Sym Close Wkly YTD Week Rank YrAgo Rank YTD Rank 3Yr High Low

Mobile Telecom DJUSWC 342.40 – 39.77 –59.71 –10.41 [1] –9.34 [50] –14.85 [11] +1.12 405.63 342.40
Pharmaceuticals DJUSPR 522.59 – 69.98 –99.53 –11.81 [2] –9.43 [51] –16.00 [17] +.17 640.25 522.59
Broadline Retailers DJUSRB 1791.13– 241.04–229.01 –11.86 [3] +1.15 [15] –11.34 [5] +21.42 2,272.42 1,781.47
Trucking DJUSTK 680.30 – 94.72–174.27 –12.22 [4] –14.51 [71] –20.39 [49] +2.07 911.64 680.30
Medical Equipment DJUSAM 1660.50– 236.87–383.71 –12.48 [5] –5.16 [39] –18.77 [39] +11.92 2,138.90 1,650.98
Medical Supplies DJUSMS 762.32– 108.91–173.41 –12.50 [6] –8.84 [45] –18.53 [37] 0 1,031.96 762.32
Toys DJUSTY 815.53– 118.69–152.51 –12.70 [7] +4.20 [9] –15.75 [16] –.28 1,006.41 772.82
Health Care Equip & Svcs DJUSMC 1404.51– 209.37–318.08 –12.97 [8] –4.15 [37] –18.47 [36] +9.85 1,796.12 1,354.38
Pharmaceuticals &Biotech DJUSPN 708.24– 106.28–136.29 –13.05 [9] –9.24 [48] –16.14 [18] +.15 862.58 708.24
Delivery Svcs DJUSAF 677.24– 102.72–268.68 –13.17 [10] –28.61 [108] –28.40 [87] –10.27 1,016.62 677.24
General Retailers DJUSGT 1325.22– 210.96–228.59 –13.73 [11] –4.07 [36] –14.71 [10] +13.57 1,706.84 1,325.22
Health Care Providers DJUSHP 1829.68– 291.91–400.97 –13.76 [12] –1.81 [21] –17.98 [34] +8.50 2,319.67 1,647.16
Retail DJUSRT 1185.60– 190.80–207.81 –13.86 [13] –3.86 [35] –14.91 [12] +10.53 1,519.42 1,185.60
Residential REITs DJUSRN 214.16 – 35.21 –30.45 –14.12 [14] –2.77 [29] –12.45 [6] +5.35 266.98 214.16
Financial Administration DJUSFA 495.53 – 82.59–107.99 –14.29 [15] –2.73 [28] –17.89 [33] +15.26 669.17 495.53
Food Retailers & Whlslrs DJUSFD 449.28 – 75.73 –73.37 –14.42 [16] +7.56 [6] –14.04 [7] +12.66 547.43 418.04
Leisure Goods DJUSLE 532.18 – 91.13–117.37 –14.62 [17] +3.31 [11] –18.07 [35] –.58 672.35 503.78
Computer Hardware DJUSCR 3173.93– 546.33–662.93 –14.69 [18] +28.53 [1] –17.28 [31] +17.43 4,236.36 2,354.91
Auto Parts DJUSAT 318.97 – 55.10–151.80 –14.73 [19] –29.07 [109] –32.24 [103] –11.06 487.81 318.97
Food & Drug Retailers DJUSDR 607.13– 105.48–118.83 –14.80 [20] –2.32 [24] –16.37 [22] –1.06 749.58 596.90
NetChange %ChangeandRanking 52Week
Top20YrAgoRanked IG-Sym Close Wkly YTD Week Rank YrAgo Rank YTD Rank 3Yr High Low

Computer Hardware DJUSCR 3173.93– 546.33–662.93 –14.69 [18] +28.53 [1] –17.28 [31] +17.43 4,236.36 2,354.91

Gold Mining DJUSPM 98.77 – 19.03 –4.50 –16.16 [44] +24.14 [2] –4.36 [1] +11.72 117.80 70.75

Mining DJUSMG 91.61 – 17.90 –5.18 –16.34 [48] +16.72 [3] –5.35 [2] +7.39 109.51 71.12

Water DJUSWU 2485.61– 536.70–262.81 –17.76 [68] +9.36 [4] –9.56 [3] +12.97 3,131.32 2,214.96

Specialty Finance DJUSSP 264.71 – 61.62 –64.19 –18.88 [87] +8.56 [5] –19.52 [41] +18.47 382.03 247.84

Food Retailers & Whlslrs DJUSFD 449.28 – 75.73 –73.37 –14.42 [16] +7.56 [6] –14.04 [7] +12.66 547.43 418.04

Software DJUSSW 2598.38– 459.59–445.32 –15.03 [25] +6.48 [7] –14.63 [9] +21.83 3,566.09 2,456.44

Technology Hardware& Equip DJUSTQ 1679.35– 326.84–449.92 –16.29 [46] +6.32 [8] –21.13 [50] +11.41 2,311.70 1,489.26

Toys DJUSTY 815.53– 118.69–152.51 –12.70 [7] +4.20 [9] –15.75 [16] –.28 1,006.41 772.82

Automobiles DJUSAU 191.45 – 47.29 –21.31 –19.81 [99] +3.86 [10] –10.02 [4] –1.93 304.37 159.59

Leisure Goods DJUSLE 532.18 – 91.13–117.37 –14.62 [17] +3.31 [11] –18.07 [35] –.58 672.35 503.78

Insurance Brokers DJUSIB 348.73 – 62.04 –67.30 –15.10 [27] +2.57 [12] –16.18 [19] +10.62 453.39 341.36

Real Estate Services DJUSES 200.11 – 36.65 –35.50 –15.48 [34] +2.47 [13] –15.07 [14] +11.74 262.20 186.11

Fixed Line Telecom DJUSFC 142.64 – 25.95 –35.28 –15.39 [33] +2.29 [14] –19.83 [44] –7.99 180.42 137.86

Broadline Retailers DJUSRB 1791.13– 241.04–229.01 –11.86 [3] +1.15 [15] –11.34 [5] +21.42 2,272.42 1,781.47

Nondurable Hshld Pdts DJUSHN 815.15– 152.84–167.12 –15.79 [39] +.90 [16] –17.01 [29] +3.50 1,003.84 815.15

Soft Drinks DJUSSD 650.60– 116.04–114.65 –15.14 [28] +.09 [17] –14.98 [13] +3.37 825.61 642.89

Real Estate Investmt& SvcsDJUSRH 430.25 – 84.24 –90.78 –16.37 [50] –.74 [18] –17.42 [32] +8.80 573.68 412.33

Home Improvement Rtlrs DJUSHI 380.63 – 74.36 –74.68 –16.34 [49] –.87 [19] –16.40 [23] +7.22 505.50 380.28

Semiconductor DJUSSC 3291.08– 719.79–1,022.36 –17.95 [71] –1.58 [20] –23.70 [69] +9.13 4,727.12 3,077.97

Groupsareweightedbycapitalization.52-weekhighsandlowsarebasedondailycloses.Dec.31,1991=100.IntheU.S.listings,%volchg
columnshowsthechangefromprevious65-daymovingaverage.Volumefiguresdonotreflectextendedtradinghours.

ComingEarnings

Day Consensus Year

Estimate Ago

Continuedfrompage13ofthemainsection.

M

KindredBiosciences(Q4) -0.36 -0.46

T

FedEx(Q3) 1.62 3.03

Lands’End(Q4) 0.78 0.50

MichaelsCos(Q4) 1.25 1.44

W

GeneralMills(Q3) 0.76 0.83

TailoredBrands(Q4) -0.54 -0.28

HermanMiller(Q3) 0.69 0.64

TH

Children’sPlace(Q4) 1.57 1.10

DardenRestaurants(Q3) 1.87 1.80

Lennar (Q1) 0.85 0.74

F

HibbettSports(Q4) 0.62 0.57

Tiffany(Q4) 1.76 1.67

(Earningsaredilutedandreportdatesaretentative. Allfore-

castsandhistoricalnumbersexcludeextraordinaryitemsby

accountingdefinitions.)

Source:FactSet

YEARLYHIGH/LOWSNASDAQINDEX

TheyearlyNasdaqCompositeIndex;withahigh/low

rangebasedonthedailyclose.

Year High Date Low Date

2020 9817.18 Feb 19 7201.80 Mar. 12

2019 9022.39 Dec 26 6463.50 Jan. 03

2018 8109.69 Aug. 29 6192.92 Dec. 24

2017 6994.76 Dec. 18 5429.08 Jan. 03

2016 5487.44 Dec. 27 4266.84 Feb. 11

2015 5218.86 July 20 4506.49 Aug. 25

2014 4806.91 Dec 29 3996.96 Feb. 03

2013 4176.59 Dec 31 3091.81 Jan. 08

2012 3183.95 Sept 14 2648.36 Jan. 04

2011 2873.54 Apr 29 2335.83 Oct. 03

2010 2671.48 Dec 22 2091.79 July 02

2009 2291.28 Dec 30 1268.64 Mar. 09

2008 2609.63 Jan 02 1316.12 Nov 20

2007 2859.12 Oct 31 2340.68 Mar. 05

2006 2465.98 Nov 22 2020.39 July 21

2005 2273.37 Dec 02 1904.18 Apr 28

2004 2178.34 Dec. 30 1752.49 Aug. 12

2003 2009.88 Dec. 30 1271.47 Mar. 11

2002 2059.38 Jan. 04 1114.11 Oct. 09

2001 2859.15 Jan. 24 1423.19 Sept. 21

2000 5048.62 Mar. 10 2332.78 Dec. 20

1999 4069.31 Dec. 31 2248.91 Feb. 17

1998 2192.69 Dec. 31 1419.12 Oct. 08

1997 1748.78 Oct. 09 1194.16 Apr. 22

1996 1328.95 Dec. 10 977.79 Sept. 16

1995 1075.14 Dec. 05 740.44 Jan. 04

1994 803.93 Mar. 18 693.79 June 24

1993 787.42 Oct. 15 645.87 Apr. 26

1992 676.95 Dec. 31 547.84 June 26

1991 586.34 Dec. 31 355.75 Jan. 14

1990 469.60 July 16 325.44 Oct. 16

1989 485.73 Oct. 09 378.56 Jan. 03

1988 396.11 July 05 331.97 Jan. 12

1987 455.26 Aug. 26 291.88 Oct. 28

1986 411.16 July 03 323.01 Jan. 09

1985 325.16 Dec. 16 245.91 Jan. 02

1984 287.90 Jan. 06 225.30 July 25

AMERICANDEBTANDDEFICITS

Latest Preceding YearAgoYearoverYear

Report Report Report %Chg

FederalBudgetDeficit(bil.$)-a......................................... 1,068FY'21 1,101FY'20 1,092FY'19 ....

BudgetSurplus/Deficit(bil.$)-b,February...................... –235.34 r-32.60 –233.98 0.58

TradeDeficit(bil.$,sa)-c,January..................................... –45.34 r-48.61 –53.82 -15.76

TreasuryGrossPublicDebt.(bil.$)-d............................... 23,483.0 23,460.6 22,028.3 6.60

TreasuryStatutoryDebtLimit(bil.$)-d............................. * 21,987.7 .... ....

ConsumerInstallmentDebt(bil.$)-e,January............... 4,202.7 r4,190.7 4,030.6 4.27

Sources:a-OfficeofManagementandBudget,b-MonthlyTreasuryStatement,c-MonthlyCommerceDept.Report,d-DailyTreasury
Statement,e-MonthlyFederalReserveRelease.*StatutorydebtlimittemporarilysuspendedthroughJuly31,2021.

NYSEHALF-HOURLYVOLUME

Daily 3/09 3/10 3/11 3/12 3/13

9:30-10:00 199,499 221,769 197,204 209,223 216,184

10:00-10:30 196,560 92,656 85,961 163,637 101,067

10:30-11:00 123,787 87,967 81,558 114,929 76,974

11:00-11:30 93,448 92,963 76,547 90,441 72,540

11:30-12:00 84,667 91,594 72,879 92,697 84,734

12:00-12:30 78,466 74,031 71,029 96,005 64,345

12:30-1:00 70,901 64,536 72,878 101,205 68,825

1:00-1:30 65,695 61,402 61,154 106,273 59,866

1:30-2:00 77,108 64,479 59,833 73,241 58,887

2:00-2:30 77,838 68,939 67,885 65,310 60,212

2:30-3:00 91,171 86,288 85,918 71,945 65,123

3:00-3:30 97,657 91,646 112,468 94,489 75,660

3:30-4:00 837,748 717,978 716,265 879,113 990,027

NYSEDATABANK

Latest Preceding Year-Ago

Month Month Month

SecuritySales

Customers'margin debt

(Mil$) January 561,812 579,221 568,433

Customers'credit balances

(Mil$) January 152,854 151,543 151,804

Freecredit bal. cash accounts

(Mil$) January 186,847 186,315 186,050

Shortinterest

(Thous.Shs) Feb.28 16,083,200r15,641,186 15,011,643

Shortinterest ratio

(d) Feb. 28 3.2 4.3 4.2

(d)Forperiod

r-Revised Source:NYSE.*-Nowincludescompositetrades.