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WPRT, IDTI, INVN and macro ?3

10:15 23-Jun-17


I have a mish-mash of news for you this morning, none of it critical, but all of it worthy of mention.

Westport Fuel Systems announced that Volvo will continue using its Bi-fuel engine, which can run on either petrol or Biogas/CNG (compressed natural gas), in the new V-90 station wagon.  The prior model using this engine was reasonably well received, and the base model of the V-90 gets an excellent review as well.  This version is mainly used for taxi fleets in northern Europe, and with diesel on the decline, I hope we'll see many more such incremental steps forward.

Integrated Device Technology churns out many new sensors and innovations, but this implantable glucose sensor for monitoring diabetes seems noteworthy.  It shows how IDT's broad technology portfolio can be adapted to all sorts of uses.  That, I suppose, is what this morning's press release from InvenSense is also meant to show, though I don't see any fundamental importance to it, since all the source material is fairly dated.  I've gotten some questions about INVN pricing recently, and I continue to see the stock as fairly cheap, but I also haven't seen any evidence of real growth beyond mobile to justify a rebound.

That leaves us with the broader market, where this morning's weekly jobless claims were well below estimates.  As predicted, we're also already seeing some preliminary relief over (perceived lack of?) Brexit, even though actual vote estimates have remained quite close.  We won't know for sure until early tomorrow, as the polls there close at 5pm EST.  Either way, my best guess is that we're in for a mildly positive market at least until the next monthly jobs report in early July.  Even a shock there might not be enough to get us a rate hike at the end of July, but all it would need to do is create uncertainty to roil the market again.