Symbol: LECO
US Focus
US Focus
US Focus
US Focus
O’Neil Capital Equipment Sector Weekly
Crane Co (CR) – $5.6B Mcap; $30M ADV – We removed Crane from our U.S. Focus List as the stock breached support at its 50- and 200-DMA on above average volume. It reported mixed Q1 FY22 results on Monday after market close. Revenue of $801M (+3% y/y) was slightly below estimates, while EPS of $1.81 (+9% y/y) beat estimates by 8%. Management had reiterated its FY22 adjusted EPS estimates of $7.00–7.40 (+10% y/y at the midpoint).
Won Global View
The U.S. market remains in a Downtrend. The S&P 500 and Nasdaq rallied off year-to-date lows yesterday but remain below multiple levels of resistance, including the 10-DMA (S&P 500: 4,313; Nasdaq: 13,016) and 21-DMA (S&P 500: 4,370; Nasdaq: 13,311).
US Focus
Won Global View
The U.S. market remains in an Uptrend Under Pressure. Indices recovered off intraday lows and closed positive on the session. The S&P 500 closed at session highs and continues to consolidate along price support at ~4,278. The Nasdaq bounced +1% higher and remains choppy along ~13,000. The distribution day count is elevated at seven and six, respectively.
