Stephanie

$TGT : the turn is finally here w a beat and raise. SSS impressive at 5.6%, traffic +4.4% & tix in line. GM/OM both beat and guide at the high end w/conservative OM guide imo.

Always fun to chat with you! Thanks for the invitation.

April credit card data showed the average DQ rate was -21bps y/y and the NCO rate -41bps y/y. $COF , $BFH , and $SYF saw loan growth improve sequentially as well.

$BAC CEO: "What we see in our customer base is, in the month of April, our customers moved 5% more money in the economy than they did last April. And the gas increase is less than a half a % point of that. The rest of it is just more spending. People are employed. They have

$AS : another strong Q with TR up 26%, technical apparel +28%, Outdoor +33%, Ball and Raquet +10%. Americas +18%, EMEA +21%, China +45%. Bodes well for $DKS.

Comprehensive read on the challenges investing in Europe right now. bloomberg.com/news/articles/…

Ended the week on a down note but $SPX still +8%, $NDX is +15% YTD on better EPS. Although watching the 10 yr like everyone else. Enjoy the weekend! This one surprised me how good it was: Steven Tyler's version of Beatles songs - Abbey Road Medley

Atlanta Fed GDPNow at 4% after several positive data pts this week. Namely the regional manufacturing series continue to point closer to 60% - well above the 50% expansion line. While war is a worry - AI Food Chain (DC+Grid+Power) continue to post strong backogs on ave +34%.

Consumer continues to consume: Retail sales .5% vs .4% X and ex-auto .7% vs .4% X. It's all about labor - with another week of strong jobless claims - lowest since Jan 2024 at 204K 4 wk moving ave. People spend when they have a job.

Simple observation: quietly $PANW is up 23% YTD, $CRWD is up 20%, $FTNT is up 48% - the leaders in cybersecurity are the LT winners in AI and won't be displaced by AI. No coincidence the CEOs have been buying their stock.

$AMZN : Shopping gets easier aboutamazon.com/news/retail/al…

Folks wonder why $SPX up 17% and $QQQ up 27% from 3/30 lows - bc GDP is 3.7% and EPS up 25%. More importantly TR up 11% w margins expanding for EQ weight at 14.3% - old highs were 14.5%. Productivity w growth.

A good friend sent this to me today - giving you a smile as well. I think one of my favorite feelings is laughing with someone and realizing half way through how much you enjoy them and their existence. Happy Mother’s Day Moms.

The markets continue to climb higher w the $SPX now up 8% YTD and $NDX up 16% - and remains broadbased w $RLV up 11% and $RLG up 4%. Atlanta Fed tracker up 3.7% w EPS growth at 25%. Enjoy mkts and music. Pharrell Williams - Happy

Very solid job data this week overall: Weekly Claims 4 wk MDA +203K, ADP 10th consecutive wk of growth, Challenger Gray layoffs dn 50% YTD, and today's NFP with last month's higher revisions.

$BA CEO Kelly Ortberg set to join Trump on China visit next week cnb.cx/4cVDFzo $GE

Always great to start the day w @.MorganLBrennan and what a treat to talk my favorite part of the AI boom. #industrials

$ELAN : best organic Q since becoming public. Beat and raised guide across all key metrics. 10% organic growth 24.5% EBITDA margin, 8% y/y EPS growth and lowered net leverage to 3.5x adj EBITDA. #animalhealth

AI Food chain of AI + DC +grid + power theme: $AMD : 1Q DC +57% y/y & server CPU revenue guide +70% in Q2 bc of demand for EPYC processors and AI infrastructure. It’s happening throughout technology, industrials, utilities and power companies. #electrification theme

$ROK : strong beat/raise driven by Discrete +mid teens, Hybrid +HSD, Process +MSD. Org g double expectations at 9%, OM beat by 225 bps and +350bps y/y. Key ARR +6% and software +HSD makes this less cyclical going forward. #automation