Weekly Bot Brief 9-24-2021

- Victor Hugo

 

Bots in The News:

As with the prior week, the Bot Index and S & P 500 little movement W to W, however, with significant volatility within the trading days. The Bots declined a mere 6 basis points while the S & P gained 51 basis points. 

Virtually all the decline in the Bot Index was attributed to the Asian components of the index. All seven holdings were in negative territory during the week with NIO Ltd. sliding the most with a decline of 6.68%. Political rhetoric from the CCP regarding income equalization spawned fears that the price tag on the EV would come under some form of regulatory scrutiny.

Fanuc and Yaskawa Electric were not far from the percentage decline by NIO, each experiencing 5.18% and 5.33% retreats respectively. The remaining Asian companies that felt selling pressure included: Cyberdyne (-2.71%), OMRON Corp. (-3.22%), Hiwin Technologies (-2.5%) and Keyence (-3.06%).

There were only four gainers of any significance. The best of which was recorded by Brooks Automation who continued its recent surge based upon certain technical factors. Notably entitled the Golden Cross, Brooks’ momentum factors have now pushed the stock up nearly 40% in the past month. The stock closed the week gaining 15.51% to close at $108.74.

Raytheon Technologies rose 4.52% following its announcement of a $140 million award by the Naval Air Command for its advanced radar system. That followed the prior week’s report of another award of $300 million for radio communication technologies on over 400 platforms.

Accuary Inc. jumped 4.29% with the acceptance of the Radixact System by a Japanese hospital to start treating cancer patients.

Finally, Textron rose 3.83% after the Wall Street firm Zachs published a report entitled, “Looking for a Growth Stock? 3 Reasons Why Textron is a solid choice.” Within the article the analysts cited strong earnings growth, the company’s asset utilization rate and the frequency of earnings upward revisions as support for the headline.

 

Member: American Economic Association, Society of Professional Journalists, United States Press Association. Institute of Chartered Financial Analysts, Robotic Industries Association, Member IEEE.

 

 

The Bot Brief is a weekly newsletter designed for economists, investment specialists, journalists, and academicians. It receives no remuneration from any companies that may from time to time be featured in the brief and its commentaries, analysis, opinions, and research represent the subjective views of Balcones Investment Research, LLC. Due to the complex and rapidly changing nature of the subject matter, the company makes no assurances as to the absolute accuracy of material presented.