Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jul 27, 2021 at 4:31 PM
  • Market Recap
  
Published on Jul 27, 2021 at 2:18 PM
  • Earnings Preview
  • Editor's Pick
  • Buzz Stocks

Checking In On Sputtering DraftKings Stock

by Schaeffer's Digital Content Team
 
Published on Jul 27, 2021 at 1:23 PM
  • Quantitative Analysis

The shares of tech name Crowdstrike Holdings Inc (NASDAQ:CRWD) have staged an impressive climb up the charts during the past couple months, with a brief pullback to the 40-day moving average launching the stock to a fresh record high of $272.63 on July 23. While the equity has taken a breather this week, off 3.7% at $255.13 in today's trading, there's reason to believe this negative price action could be short lived, with even more growth in CRWD's future. 

crwd stock chart july 27

In fact, CRWD's recent all-time high comes amid historically low implied volatility (IV) -- a bullish combination for Crowdstrike stock in the past. According to a study from Schaeffer's Senior Quantitative Analyst Rocky White, there have been another four times in the past five years when the security was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) stood in the 20th percentile of its annual range or lower. This is now the case with CRWD's SVI of 42%, which sits in the eighth percentile of its annual range.

According to White's data, one month after three of these signals, the security was higher, averaging an 11.1% return. From the stock's current perch, a similar move would put CRWD at a brand-new record high of $283.45.

Now looks like a good time to get in on CRWD's next move with options. In addition to sporting an incredibly low SVI, implying options traders are pricing in low volatility expectations at the moment, the stock's Schaeffer's Volatility Scorecard (SVS) sits at 91 out of a possible 100. This means Crowstrike stock tends to exceed these trader's volatility expectations -- a good thing for options buyers. 

 

 

Published on Jul 27, 2021 at 11:56 AM
  • Ezines
  • Midday Market Check
 
Published on Jul 27, 2021 at 10:09 AM
  • Buzz Stocks

The shares of power tool manufacturer Stanley Black & Decker, Inc. (NYSE:SWK) are down 3.4% to trade at $198.71 following the company's second-quarter earnings report. The firm posted adjusted second-quarter earnings of of $3.08 per share on $4.30 billion in revenue, both of which topped analysts' expectations.

The company also lifted its full-year guidance, noting that all of its segments saw double-digit year-over-year growth. So why the lackluster price action amid such an encouraging report? Broad-market headwinds could be weighing on SWK, as well as the announcement that the company was raising its prices to combat commodity inflation.

The beat-and-raise sparked a bull note from Baird, which lifted its price target to $236 from $232. That's noteworthy considering analysts were optimistic on SWK headed into today; it's 12-month consensus price target of $242.23 is a 17.6% premium to current levels, and of the 11 in coverage, eight say "buy" or better. 

Despite limited absolute volume, options traders haven't been so optimistic. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 2.18 puts have been picked up for every call during the last two weeks. This ratio stands higher than 83% of readings from the past 12 months, suggesting a healthier-than-usual appetite for long puts of late. 

Since hitting a record high of $225 in mid-May, SWK has been chopping lower, though its 160-day moving average appears ready to contain the pullback, as the trendline did back in February. The security is up over 25% in the past 12 months, and still boasts a 11% year-to-date lead.

Published on Jul 27, 2021 at 10:05 AM
  • Buzz Stocks
 
Published on Jul 27, 2021 at 9:41 AM
  • Buzz Stocks
 
Published on Jul 27, 2021 at 9:40 AM
  • Buzz Stocks
 
Published on Jul 27, 2021 at 9:23 AM
  • Opening View

Stock futures are mostly lower this morning, with futures on the Dow Jones Industrial Average (DJI) pointed 120 points lower, and futures on the S&P 500 Index (SPX) sporting a shallow loss of its own. Nasdaq-100 Index (NDX) futures, meanwhile, are pointed flat. Investors seem to be largely overlooking a blowout earnings report from Tesla (TSLA), released after the close last night, though the equity itself is climbing. Even more powerhouse tech names are expected to report after the close this evening, including Apple (AAPL) and Microsoft (MSFT).

Wall Street is also looking ahead to the Federal Reserve's two-day policy meeting, which will begin later today. Elsewhere, S&P Case-Shiller home prices for May came in 16.6% higher year-over-year, as the housing boom continues to drag prices higher alongside subpar supply and surging demand.

Continue reading for more on today's market, including:

  • The semiconductor stock set for a major bounce. 
  • Why SSTK could be headed for another earnings beat
  • Plus, UPS falls short on domestic revenue; MMM enjoys a beat-and-raise; and INTC trying new tactics. 

futures chart july 27 2021

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts traded on Monday, compared to over 1.1 million put contracts. The single-session equity put/call ratio rose to 0.63 and the 21-day moving average stay at 0.50.
  2. The shares of United Parcel Service, Inc. (NYSE:UPS) are off 6.9% in premarket trading after the company's second-quarter domestic revenue fell short of analysts' outlook. UPS' profits and overall revenue and profits did top expectations, but the firm noted e-commerce demand is still running high. Coming into today, UPS was up 24.6% year-to-date.
  3. Meanwhile, blue-chip 3M Co (NYSE:MMM) is faring a bit better after it earnings report, but is still inching lower in electronic trading, down 0.8%, despite the firm's second-quarter earnings and revenue beat. The company also lifted its full-year forecast. MMM has added over 15% in 2021. 
  4. Fellow Dow member Intel Corporation (NASDAQ:INTC) said it plans on rolling out a new chip each year from now until 2025, in an attempt to regain control of the semiconductor space. INTC is down 2.4% before the bell, chipping into its 9% year-to-date lead, coming into today. 
  5. Today, durable goods orders and the July consumer confidence index will be due out.

OV Buzz Chart July 27

Stocks in Hong Kong Continue to Slide

Markets in Asia settled on both sides of the aisle on Tuesday. Hong Kong's Hang Seng extended yesterday's steep losses, closing down 4.2%, as several stocks succumbed to pressure from new regulations. China's Shanghai Composite followed behind with a 2.5% drop, amid economic data showing industrial firms' profits jumping 20% year-over-year in June – a decline from the 36.4% rise in May. Elsewhere, Japan's Nikkei added 0.5%, while the South Korean Kospi ended with a 0.2% gain.

European markets are lower midday, as investors unpack a slew of corporate earnings. As Northern Europe still recovers from the recent flooding, Southern Europe saw wildfires across the region yesterday. At last check, London's FTSE 100 and the German DAX are both down 0.4%, while the French CAC 40 is 0.2% lower. 

Published on Jul 27, 2021 at 8:56 AM
Updated on Jul 27, 2021 at 8:56 AM
  • Buzz Stocks
  • Earnings Preview
 
Published on Jul 27, 2021 at 7:45 AM
  • Buzz Stocks

Today's Stock Market News & Events: 7/27/2021

by Schaeffer's Digital Content Team

Today durable goods orders and the July consumer confidence index will be due out. Investors will also pore over the S&P Case-Shiller home price index, and a second-quarter housing vacancies reading today. 

The following companies are slated to release quarterly earnings today, July 27:

3M Co. (NYSE:MMM -- $201.67) develops, manufactures, and markets various products worldwide. 3M will report its Q2 earnings of 2021 before the bell today.

Archer-Daniels-Midland Co. (NYSE:ADM -- $58.44) procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. Archer-Daniels will report its Q2 earnings of 2021 before the bell today.

Asbury Automotive Group Inc. (NYSE:ABG -- $196.98) operates as an automotive retailer in the United States. Asbury Automotive will report its Q2 earnings of 2021 before the bell today.

Boston Scientific Corp. (NYSE:BSX -- $43.97) develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. Boston Scientific will report its Q2 earnings of 2021 before the bell today.

Commvault Systems Inc. (NASDAQ:CVLT -- $82.68) provides data protection and information management software applications and related services in the United States and internationally. Commvault Systems will report its Q2 earnings of 2021 before the bell today.

DTE Energy Co. (NYSE:DTE -- $115.88) engages in the utility operations. DTE Energy will report its Q2 earnings of 2021 before the bell today.

Entegris Inc. (NASDAQ:ENTG -- $118.76) develops, manufactures, and supplies microcontamination control products, specialty chemicals, and advanced materials handling solutions for manufacturing processes in the semiconductor and other high-technology industries in North America, Taiwan, South Korea, Japan, China, Europe, and Southeast Asia. Entegris will report its Q2 earnings of 2021 before the bell today.

Fiserv Inc. (NASDAQ:FISV -- $111.35) provides payment and financial services technology worldwide. Fiserv will report its Q2 earnings of 2021 before the bell today.

Graphic Packaging Holding Co. (NYSE:GPK -- $17.49) provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. Graphic Packaging will report its Q2 earnings of 2021 before the bell today.

Hubbell Inc. (NYSE:HUBB -- $194.31) designs, manufactures, and sells electrical and electronic products in the United States and internationally. Hubbell will report its Q2 earnings of 2021 before the bell today.

Invesco Inc. (NYSE:IVZ -- $25.07) is a publicly owned investment manager. Invesco will report its Q2 earnings of 2021 before the bell today.

JetBlue Airways Corp. (NASDAQ:JBLU -- $16.07) provides air passenger transportation services. JetBlue Airways will report its Q2 earnings of 2021 before the bell today.

Lamb Weston Holdings Inc. (NYSE:LW -- $76.08) produces, distributes, and markets value-added frozen potato products worldwide. Lamb Weston will report its Q2 earnings of 2021 before the bell today.

Melco Resorts & Entertainment Ltd. (NASDAQ:MLCO -- $14.10) develops, owns, and operates casino gaming and resort facilities in Asia and Europe. Melco Resorts & Entertainment will report its Q2 earnings of 2021 before the bell today.

Polaris Industries Inc. (NYSE:PII -- $139.00) designs, engineers, manufactures, and markets power sports vehicles worldwide. Polaris Industries will report its Q2 earnings of 2021 before the bell today.

Raytheon Technologies Corp. (NYSE:RTX -- $85.95) provides systems and services for the commercial, military, and government customers worldwide. Raytheon Technologies will report its Q2 earnings of 2021 before the bell today.

Shutterstock Inc. (NYSE:SSTK -- $107.66) provides content, and tools and services in North America, Europe, and internationally. Shutterstock will report its Q2 earnings of 2021 before the bell today.

Stanley Black & Decker Inc. (NYSE:SWK -- $205.98) engages in the tools and storage, industrial, and security businesses worldwide. Stanley Black & Decker will report its Q2 earnings of 2021 before the bell today.

Teck Resources Ltd. (NYSE:TECK -- $21.83) engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. Teck Resources will report its Q2 earnings of 2021 before the bell today.

TransUnion Co. (NYSE:TRU -- $116.53) provides risk and information solutions. TransUnion will report its Q2 earnings of 2021 before the bell today.

United Parcel Service Inc. (NYSE:UPS -- $209.86) provides letter and package delivery, transportation, logistics, and financial services. United Parcel Service will report its Q2 earnings of 2021 before the bell today.

Waste Management Inc. (NYSE:WM -- $146.69) provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. Waste Management will report its Q2 earnings of 2021 before the bell today.

Xerox Holdings Corp. (NYSE:XRX -- $23.62) designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. Xerox will report its Q2 earnings of 2021 before the bell today.

Advanced Micro Devices Inc. (NASDAQ:AMD -- $91.82) operates as a semiconductor company worldwide. Advanced Micro will report its Q2 earnings of 2021 after the market closes today.

Alphabet Inc. (NASDAQ:GOOG -- $2,792.89) provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. Alphabet will report its Q2 earnings of 2021 after the market closes today.

Apple Inc. (NASDAQ:AAPL -- $148.99) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. Apple will report its Q2 earnings of 2021 after the market closes today.

Boyd Gaming Corp. (NASDAQ:BYD -- $57.59) operates as a multi-jurisdictional gaming company. Boyd Gaming will report its Q2 earnings of 2021 after the market closes today.

The Cheesecake Factory Inc. (NASDAQ:CAKE -- $54.52) operates restaurants. Cheesecake Factory will report its Q2 earnings of 2021 after the market closes today.

Encore Wire Corp. (NASDAQ:WIRE -- $70.48) manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Encore Wire will report its Q2 earnings of 2021 after the market closes today.

First Commonwealth Financial Corp. (NYSE:FCF -- $13.41) provides various consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. First Commonwealth will report its Q2 earnings of 2021 after the market closes today.

The Hanover Insurance Group Inc. (NYSE:THG -- $132.20) provides various property and casualty insurance products and services in the United States. Hanover Insurance will report its Q2 earnings of 2021 after the market closes today.

IMAX Corp. (NYSE:IMAX -- $17.46) operates as an entertainment technology company worldwide. IMAX will report its Q2 earnings of 2021 after the market closes today.

John Bean Technologies Corp. (NYSE:JBT -- $137.10) provides technology solutions to food and beverage industry and equipment and services to air transportation industries. John Bean Technologies will report its Q2 earnings of 2021 after the market closes today.

Liberty Oilfield Services Inc. (NYSE:LBRT -- $11.73) provides hydraulic fracturing and wireline services, and related goods to onshore oil and natural gas exploration and production companies in North America. Liberty Oilfield Services will report its Q2 earnings of 2021 after the market closes today.

Microsoft Corp. (NASDAQ:MSFT -- $289.05) develops, licenses, and supports software, services, devices, and solutions worldwide. Microsoft will report its Q2 earnings of 2021 after the market closes today.

Monolithic Power Systems Inc. (NASDAQ:MPWR -- $412.94) designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for computing and storage, automotive, industrial, communications, and consumer applications markets. Monolithic Power will report its Q2 earnings of 2021 after the market closes today.

NortonLifeLock Inc. (NASDAQ:NLOK -- $25.68) provides cyber safety solutions for consumers worldwide. NortonLifeLock will report its Q2 earnings of 2021 after the market closes today.

Olin Corp. (NYSE:OLN -- $44.22) manufactures and distributes chemical products in the United States, Europe, and internationally. Olin will report its Q2 earnings of 2021 after the market closes today.

Paramount Group Inc. (NYSE:PGRE -- $9.92) is a fully-integrated real estate investment trust. Paramount Group will report its Q2 earnings of 2021 after the market closes today.

QuantumScape Corp. (NYSE:QS -- $22.58) engages in the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape will report its Q2 earnings of 2021 after the market closes today.

Renasant Corp. (NASDAQ:RNST -- $36.55) operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. Renasant will report its Q2 earnings of 2021 after the market closes today.

Starbucks Corp. (NASDAQ:SBUX -- $126.06) operates as a roaster, marketer, and retailer of specialty coffee worldwide. Starbucks will report its Q2 earnings of 2021 after the market closes today.

Teradyne Inc. (NASDAQ:TER -- $127.43) designs, develops, manufactures, sells, and supports automatic test equipment worldwide. Teradyne will report its Q2 earnings of 2021 after the market closes today.

UMB Financial Corp. (NASDAQ:UMBF -- $88.04) operates as the bank holding company for the UMB Bank that provides various banking and other financial services. UMB Financial will report its Q2 earnings of 2021 after the market closes today.

Visa Inc. (NYSE:V -- $250.25) operates as the bank holding company for WesBanco Bank, Inc. that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. Visa will report its Q2 earnings of 2021 after the market closes today.

WesBanco Inc. (NASDAQ:WSBC -- $32.29) develops, manufactures, and markets various products worldwide. WesBanco will report its Q2 earnings of 2021 after the market closes today.

Looking ahead to tomorrow, data on advance trade in goods will be due out on Wednesday. The latest FOMC announcement is scheduled for tomorrow afternoon, with a press conference from Fed Chair Jerome Powell to follow.

All economic dates listed here are tentative and subject to change.

Published on Jul 26, 2021 at 2:35 PM
Updated on Jul 26, 2021 at 4:51 PM
  • Quantitative Analysis
A look back at UMC's past eight earnings reports shows a mixed history of next-day responses, though its past three reports have been negative, including a 7% drop this January.

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