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                                           Here's What You missed LAST Week                                                                                                             

                                                                        ONE MORE WEEK BEFORE NERVES CAUSE SOME SELLING INTO YEAR END

December 04—08, 2017 Earnings tail off, we’re between holidays, so the Street cranks up its investment bank conferences on both sides of the Atlantic. The weirdest timing of all, is the Nov. Unemployment Report this Friday, instead of last Friday, the first of the month. Not that it’s going to make a difference, anyway—the Fed is raising rates in mid-December, and it doesn’t appear like anything is going to throw them off that plan. And it’s hard to believe Monetary Policy Meetings in Australia, India, or Canada are going to change the course of US history, this week.

The I-bank conferences likely to deliver the most commentary includes UBS’ 45th Media & Communications Conference, starting Monday, Cowen Energy & Natural Resources, Leerink 8th Annual Devices & DNA bus tour in California, all starting Monday. But if you carefully read down the list of events Monday, you can see how any one or two of them might be worthy of attention.

Tuesday, Goldman Sachs US Financial Services Conference will compete with Wells Fargo’s Pipeline, MLP & Utility Symposium, and Nasdaq’s 37th Annual Investor Conference, the latter in London. Tuesday is flush with I-bank conferences on both sides of the Atlantic, and out to Asia. The wonder is how MiFIID 2 will impact the I-bank conferences on the Continent.

Wednesday’s highlight is Barclays Global TMT, Technology, Media & Telecommunications Conference in San Francisco. Citi’s Global Healthcare comes at the end of a long list of Healthcare conferences, while Mexico’s Auto Industry Summit, in Guanajuato Mexico, showcases the problem Trump’s negotiators will have cutting out the Mexican manufactured parts that US OEMs need to build cars in the US.

As the FANGS were flying, one old line tech company was lumbering, unable to join the party until after its recent earnings report, released 11/15. And in proof of its suddenly filled up dance card, I refer you to
Cisco’s IR page where you’ll find the company planning on participating in:
12/04 Baird & Cisco to Host Tech Talk on Cisco’s Multi-Cloud Strategy
12/05 Nasdaq 37th Investor Program
12/06 Wells Fargo Tech Summit
12/07 Barclays Global Technology, Media & Telecommunications Conference
And farther out, on 12/13: Cowen Security & Networking Conference

On 12/06, the 6th Annual NYC Investor Summit is a self-organized meeting with leaders from AEHR, ACLS, BESI.AS, BRKS, CAMT, COHU, ESIO, FORM, ICHR, IMI, INTT, IVAC, KLIC, NANO, RTEC. Cowen is sponsoring the networking luncheon. Obviously, a group of companies that doesn’t think they get their Street due, without setting up their own IR Meeting, annually.

Ivy Zelman is the headline speaker at HIVE, in Los Angeles, on the 6th. One of the few former Street analysts who retained her influence. She remains the hammer on homebuilders, the subject of a Deutsche Bank Conference in NY, Thursday. Then, Friday, ASH, the Art of Hemotology Symposium opens in Atlanta, surely one of the biggest healthcare events of the 2H.

As for Earnings, Broadcom’s (AVGO) report (Wednesday) may determine how much room it has to increase its bid for Qualcomm—or how much it might need the deal. Otherwise, Toll Bros on Tuesday, and Hovnanian Enterprises, on Wednesday, could be the key reports mid-week. Asena, Monday, is the worst of conglomerate building, being fading retailers like Loft & Ann Taylor, just as shopping moved online. Lululemon has had a strong quarter, here but will have tougher comps in the future to top. Hudson’s Bay, owner of Saks 5th Avenue & Lord & Taylor is another empire builder whose timing stunk but whose assets have real estate value. Thursday, Ciena, Dell Technologies, United Natural Foods, and Vail Resorts all have aspects that tell a story—UNFI, perhaps, how quickly Amazon can chew away at supplier margins, at Whole Foods, its biggest customer now owned by AMZN. Likewise, Dollar General is a retailer I don’t know who can truly cover—since it opens in every kind of marketplace, and sometimes relies on scratch & dent cans of food to fill its registers. With thousands of stores, I don’t know how management can offer guidance, let alone an analyst look from outside and make a different estimate.

For all the events scheduled this week, think of it as a wind down that will begin after one last spurt of meetings, this week.

ECONOMIC:(Highlights, only, below. Full International Economic calendar here)
SUNDAY, 12/03
    OVERNIGHT into US Mon. a.m. et:
         BoJ’s Kuroda & ECB Bd Member deGalhou
speak at a seminar (Tokyo)

MONDAY, 12/04
US Oct Factory Orders
US Oct (F) Durable Goods Orders/Shipments
US Treasury Auctions $42B 3-, & $36B 6-month Bills
TD Ameritrade IMX (12:30pm et)
    OVERNIGHT into US Tues. a.m. et:
         RBA (Aussie) MPC Rate Decision & Cash Rate Target
(12/05 local time)
         Japan 10-year JGB Auction
         UK Nov New Car Registrations, Markit/CIPS Nov Services & Composite PMI+UK Nov Official FX Reserves/Changes
         BoE releases Record of Financial Policy Cmte 11/22 Meeting

TUESDAY, 12/05
US Oct Int’l Trade Deficit
US Nov Services ((F)PMI
US ISM non-Manufacturing Nov (F) Index
US Treasury Auctions 4-week & $20B 52-week Bills (that’s it for the rest of the week!)
Milken Institute London Summit Post-Brexit, "New Europe?"
Supreme Court will hear Arguments on a Baker’s refusal to make a wedding cake for a single sex couple
      OVERNIGHT into US Wed. a.m. et: 
           India Central Bank MPC Interest Rate Decision
, Reverse REPO Rate
           EU Commission Pres Juncker to present his ideas for transforming the bailout fund ESM into European Monetary Fund, and creating the post of a European Finance Minister (Brussels)

MBA weekly Mortgage Refinance Applications
ADP Nov Private Sector Employment Report
US Q3 (rev) Productivity & Costs
TIME Person of the Year
BoC (Canada) MPC Rate Decision
EIA weekly Petroleum/Gasoline/Distillate Stats (10:340am et)
Nobel Prize Week culminates in Ceremony & Gala on 12/10
    OVERNIGHT into US Thurs. a.m,. et:
        Brazil MPC Interest Rate Decision
        China Nov FX Reserves
        Swiss Nov Unemployment Rate & Nov FX Reserves
        ECB Governing Council Meets—no interest rate change expected
        ECB Pres Draghi news conference on Basel Banking Reforms (Frankfurt)

Thursday, 12/07
Challenger Nov Job-Cut Report
US Weekly Jobless Claims
US Oct Consumer Credit
(Debt, really)
SEC Investor Advisory Committee Meeting (2 panels with outside speakers not named)
Pearl Harbor Anniversary
Medicare Open Enrollment for 2018 Ends at Midnight
     OVERNIGHT into US Fri a.m. et:
         Japan Q3 GDP, Business Spending,
Nov Bank Lending, Oct Labor Cash Earnings
         China Nov Trade Balance & Foreign Direct Investment
         Eurozone Q3 GDP & Labor Costs
         UK Oct Trade Balance
, Industrial & Manufacturing Production
         UK NIESR Nov GDP, BoE/TNS Inflation over next 12 months

FRIDAY, 12/08
US Nov Unemployment Rate/Change/Participation
Canada Nov Housing Starts
, Q3 Capacity Utilization
U.M. Prelim Dec Consumer Sentiment
US Oct (F) Wholesale Trade (Sales & Inventories)
Baker-Hughes weekly US/North American Rig Count
(1pm et)
US Continuing Resolution funding the Federal Gov’t expires at midnight

China Nov CPI & PPI

                         WEEKS AHEAD: 12/12 FOMC 2-day Meeting Starts
                                                   12/13   FOMC Statement, SEP (Member Financial projections)
                                                             Yellen (Final?) Press Conference
                                                   12/14    ECB MPC Meets on Rates
                                                              BoE MPC Rate Decision
                                                              SNB (Swiss) MPC Rate Decision

                                                              Norges Bank (Norway) MPC Meetings
                                                    12/21   BoJ MPC Meets

EARNINGS: (We no longer separate pre-market from post market releases because it was just too burdensome. We ignore "the" in a company name unless it’s integral to the ticker, which is rare. We embolden those tickers we expect to attract the most attention.)





American Society of Cell Biology (Philadelphia PA thru 6th)
Prostate Cancer Advances in Basic Translational & Clinical Research (Orlando FL thru 5th)
NAIC National Ass’n of Insurance Commissioners Fall Meeting (Honolulu HI thru 4th)
AES American Epilepsy Society Annual Meeting (D.C. thru 5th)
ESMO Clinical Update on Rare Adult Solid Cancers (Mlan Italy thru 4th)
WPCCID: Pediatric Infectious Diseases (Shenzhen China thru 5th)
aSalon Nautique (Paris Expo France thru 12/10)
L.A. Motor Show (Los Angeles CA thru 12/10)

ITMA (Int’l Home Textiles) Showtime (High Point NC thru 6th)
Opal Group’s Marketplace Lending & Alternative Financing Summit (Dana Point CA thru 5th)
National Grain + Feed Forum @Country Elevator Conference (Louisville KY thru 5th)
Mediapost Email Insider Summit (Park City UT thru 6th)

MONDAY, 12/04
UBS 45th Global Media & Communications Conference (NY thru 6th)
Raymond James Technology Investment Conference (NY thru 6th)
Cowen Energy & Natural Resources Conference (NY thru 5th)
Wells Fargo Tech Summit Reception (Park City UT thru 6th)
KeyBanc Consumer Conference (NY thru 6th)
Leerink 8th Annual Devices & DNA Bus Tour (California thru 6th)
Broadband World Forum (New Orleans LA thru 7th)
American Exploration & Mining Association (Sparks/Reno NV thru 8th)
Global Mizuho Investor Conference (NY thru 5th)
Singular Research 12th BOTU—Best of the Uncovereds Conference (L.A.)
8th Future of Money & Technology (San Francisco)
IMN 6th Single Family Rental Investment Forum West (Scottsdale AZ thru 6th)
Realtors Triple Play (Atlantic City NJ thru 7th)
ASTA’s 71st CSS: Corn & Sorghum & 45th Soybean Seed Research Conference (Chicago thru 7th)
Farm Equipment (Minneapolis MN thru 6th)
IDGA Cyber Security Exchange (Amelia Island FL thru 6th)
Gartner IT Infrastructure, Ops Management, Data Center & Solutions Summit (Las Vegas thru 7th)
3D Printing & Additive Manufacturing Summit & Expo (San Diego CA thru 5th)
TDWI Data Driven Emerging Technologies Conference (Orlando thru 5th)
National HIV Summit (New Orleans LA thru 5th)
SAE DoD Maintenance & Logistics Symposium (Salt Lake City UT thru 6th)
Global Ag Investing (London thru 6th)
44th Global Symposium on Racing (Tucson AZ thru 6th)
World Oil & Gas Week + Awards dinner (Greenwich UK thru 5th)
CanSIA Canadian Solar (Toronto ON Canada thru 5th)
Berenberg European Conference (Surrey UK thru 7th)
British Society for Immunology Congress (Brighton UK thru 7th)
S&P European Multichannel Summit (London)
TechCrunch Disrupt (Berlin Germany thru 5th)
Int’l Diabetes Foundation Congress (Abu Dhabi UAE thru 8th)
Globecom 2017 (Singapore thru 8th)
Cisco (CSCO) Tech Talk hosted by Baird on Cloud Strategy 9am pt (noon et)
Delek USA (DK) at Wolfe Research Dinner (NY)
PSEG meets over lunch with Wolfe Research clients

TUESDAY, 12/05
Goldman Sachs US Financial Services Conference (NY thru 6th)
Wells Fargo Pipeline, MLP & Utility Symposium (NY thru 7th)
DTN Progressive Farmer Ag Summit (Chicago thru 7th)
Nasdaq OMX 37th Investor Conference (London thru 6th)
BAML European Chemicals Conference (London thru 6th)
Citi 2nd Annual Banker Forum (NY)
Scotiabank Mining Conference (Toronto Canada thru 6th)
Buckingham Research Group Annual Consumer Conference (NY)
Oppenheimer Orphan/Rare Disease Day (NY)
Macquarie Asia-Pac Emerging Leaders Corporate Day (NY thru 6th)
FDA/CMS Summit (Washington DC thru 6th)
AHIP Consumer Experience & Digital Health Forum (Nashville TN)
Immunotherapy Progress & Clinical Treatments (San Diego CA thru 7th)
San Antonio Breast Cancer Symposium (San Antonio TX thru 9th)
Biological + Chemical SENSORS Global Summit (San Diego thru 7th)
Clean Gulf (Houston TX thru 7th)
PrivCap Game Change: Energy Conference (Houston thru 6th)
Power-Gen Int’l + Renewable Energy World Conference/Expo Financial Forum (Las Vegas thru 7th)
Coal-Gen (Las Vegas thru 7th)
S&P Utility Regulation Conference: Rate Case, ROE & Reliability (D.C. thru 6th)
LD Micro-10th Annual Main Event (Los Angeles thru 7th)
Citi Global Consumer Conference (London thru 6th)
IBC’s Internet & Digital Media Law + 7th Int’l Patents & Competition Law (London thru 7th)
Citi Hong Kong & China Corporate Day (Industrials Theme Hong Kong)
Citi Taiwan Corporate Day (Singapore & Hong Kong)
HSBC 7th Annual Taiwan Discovery Forum (Hong Kong)
Strata Conference (Singapore thru 7th)
Nomura A-Share TMT Corporate Day (Shenzhen China)
JPMorgan South Africa Opportunities Conference (Cape Town So. Africa thru 6th)
HSBC Precious Metals Investor (Johannesburg So Africa thru 6th +Field Trips)
Applied Materials (AMAT) IEDM Technical Symposium (San Francisco)
Belden (BDC) Investor Day (starts 3pm et)
CBOE (CBOE) Risk Management Conference Asia (Hong Kong thru 6th)
First Solar (FSLR) Analyst Meeting
Nike (NKE) releasing Converse Capsule Collection including waterproof Chuck Taylors treated with Gore-Tex. NKE Collaborated with Italian streetwear co, Slam Jam, and the artist Cali Thornhill Dewitt.

Barclays Global Technology, Media & Telecommunications Conference (San Francisco thru 7th)
6th Annual NYC Investor Summit
Citi 2017 Global Healthcare Conference (NY thru 7th)
Barclays Eat, Sleep, Play—It’s not all Discretionary Conference (NY thru 7th)
Wells Fargo Pipeline, MLP & Utility Symposium (NY thru 7th)
Capital One Securities 12th Annual Energy Conference (New Orleans LA thru 7th)
Imperial Capital Security Investor Conference (NY thru 7th)
Mexico’s Auto Industry Summit (Guanajuato Mexico thru 7th)
ROTH Utah Active & Healthy Lifestyle Corporate Access Event (Park City UT thru 10th)
BIOMEDevice (San Jose CA thru 7th)
Wells Fargo Investment Thought Leadership Forum (NY on BDCs thru 7th)
Re/Code Recode 100 Series (San Francisco)
HIVE (housing innovation, vision & economics) Housing Conference (L.A. thru 7th)
RealShare Healthcare (Scottsdale AZ thru 7th)
Nat’l Workers Compensation & Disability Conference/Expo (Las Vegas thru 8th)
Mediapost Search Insider Summit (Park City UT Thru 9th)
Citi European Diversified Financials Conference (London thru 7th)
Macquarie Digital Ecosystems Conference (London)
Nordea Markets Annual Shipping/Offshore Investor Seminar (London)
Moscow Exchange Moex Forum: London Session (London thru 7th)
Citi’s Turkish Day (Singapore)
Home Depot (HD) Investor/Analyst Conference (Boston MA 9am et)
"Bravo Team" released for PSVR

Thursday, 12/07
Deutsche Bank Homebuilding & Building Products Strategic Value Creation Conference (NY)
Platt’s 11th Annual Global Energy Outlook & 19th Energy Awards (NY)
GMP Securities Inaugural BlockChain Technology Confeence (Toronto)
15th Annual Rocky Mountain Bioinformatics (Aspen/Snowmass CO thru 8th)
27th World Oncologists Annual Conference (Chicago thru 8th)
42nd Annual Northwestern Vascular Symposium (Chicago thru 9th)
Boston Biotech Genetic Rx (Boston)
GMP Securities NEXT in TECH Conference 2018 Outlook Blockchain (Toronto)
Macquarie Asia Emerging Leaders Corporate Day (San Francisco)
FDA Bone, Reproductive & Urologic Drugs CDER to discuss clinical trial design for drugs intended to treat interstitial cystitis & bladder pain syndrome
PRI 30 Years Performance Racing Industry Business Forum (Indianapolis IN thru 9th)
Impact Investing Summit (London thru 8th)
ESMA Immuno Oncology Congress (Geneva Switzerland thru 10th)
JPMorgan Japan Bank Forum (Tokyo)
TWSE-Daiwa Taiwan Corporate Day (Tokyo thru 8th)
Edwards LifeSciences (EW) Analyst Day (NY 8am et)
Eversource (ES) Chairman/Pres/CEO Jim Judge fireside chat with Wolfe Research clients (Boston)
Lending Club (LC) Investor Day (9am est)
Principal Financial Group (PFG) Investor Workshop
ThyssenKrupp Capital Markets Day (Ruttweil Germany thru 8th)
Art Basel (Miami Bveach FL thru 10th)
The [video] Game Awards (Los Angeles live streamed thegameawards.com)

FRIDAY, 12/08
59th ASH State of the Art Hematology Symposium (Atlanta GA thru 12th)
JPMorgan Global Outlook (Benelux)
Citi Canadian & Nordic Banks Day (London)
UBS Investment Compass Europe (Europe)
"Hello Neighbor" video game (for PC & Xbox One)
MOVIES OPENING: "The Shape of Water," with Sally Hawkins, Octavia Spencer, Michael Shannon, Richard Jenkins, directed by Guillermo del Toro, via Fox Searchlight Pictures (FOXA). "Just Getting Started," with Glenne Headly, Morgan Freeman, Tommy Lee Jones, Rene Russo, distribution by Broad Green Pictures. "I, Tonya," with Margot Robbie, Allison Janney, Bobby Cannavale, distributed by new comer Neon. "November Criminals," with Chloe Grace Moretz, Ansel Eigort, David Strathairn, written & directed by Sacha Gervasi based on Sam Munson’s novel of the same name. Limited release by Stage 6 Films & Vertical Entertainment. "Big Sonia" a documentary of a Holocaust survivor who, at 91, will lose her tailor shop because the shopping mall it’s in died and is being closed. Relatives of Big Sonia produced the movie and will self-distribute, after strong reception on festival circuit.

"Loco Roco 2" Remastered video game release (PS4)  EARLIER 2017 COMMENTS HERE

Sandi Lynne 2017 Nothing contained in this commentary should be construed as a recommendation to buy or sell any security. The opinions are the author’s, alone, and should be just one factor in more complete due diligence.

                                                                           Enjoy last week's highlights. I'm retired, now, and prepare what I like, when I want,

  Sandi Lynne

       (c) 1998--2017 Sandi Lynne