Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jun 13, 2022 at 11:52 AM
  • Midday Market Check

Selling has intensified on Wall Street, as the Dow Jones Industrial Average (DJI) extends its morning losses, down 889 points at last glance. Meanwhile, the S&P 500 Index (SPX) has finally plunged into bear market territory -- marked by a more than 20% deficit from its January record highs -- while the Nasdaq Composite (IXIC) is down more than 4% at the midway mark. Bond yields are on the rise, and earlier today the 2-year Treasury yield surged above the 10-year rate for the first time since April. This is known as a yield curve inversion, which sparked even more recession fears.

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

  • The crypto landslide is hitting 2 stocks especially hard. 
  • Which stock is bucking off the broad-market selloff.
  • Plus, options bulls brush off HPQ's dip; DAWN doubles on fresh trial data; and SSU hits record low.

midday stats june 13

There's an unusual amount of bullish options activity surrounding HP Inc (NYSE:HPQ) today. So far, 7,850 calls have crossed the tape, which is double the intraday average, compared to just 1,799 puts. The most popular contract by far is the August 45 call,  where positions are being opened. HPQ was last seen down 2.9% at $34.24, getting dragged lower with the broader market. The security has lost 9.9% this year, and is pacing for its first close below the 200-day moving average since October, thanks to a series of bear gaps during the past week. 

hpq june 13

One of the best stocks on the Nasdaq is Day One Biopharmaceuticals Inc (NASDAQ:DAWN). The security was last seen up 110.7% at $13.95, after the company released upbeat data from its Phase 2 trial for its experimental treatment tovorafenib in children with a brain tumor called pediatric low-grade glioma (pLGG). No approved therapies for pLGG currently exist. DAWN is still down 14.5% year-to-date, and 30.9% year-over-year, though it is set to topple long-term pressure at its 40-day moving average. 

One of the worst stocks on the New York Stock Exchange (NYSE) is SIGNA Sports United NV (NYSE:SSU), last seen down 10.3% at $5.34, after earlier hitting a record low of $4.42. While a specific reason for this drop remains unclear, SSU now carries a 36.9% year-to-date deficit, and just came off its seventh-straight weekly loss. 

Published on Jun 13, 2022 at 10:39 AM
  • Buzz Stocks

UPS is One of the Safest Stocks on the Market

by Schaeffer's Digital Content Team
Published on Jun 13, 2022 at 10:29 AM
  • Buzz Stocks
So far, 67,000 have been traded, in comparison to 15,000 puts. This has overall options volume running at seven times the intraday average. The June 28 call is the most popular, followed by the 18 call in the same monthly series, with new positions being opened at the former.
Published on Jun 13, 2022 at 10:19 AM
  • Intraday Option Activity
  • Buzz Stocks
Drilling down to today's options activity, 134,000 calls and 100,000 puts have crossed the tape, or triple the intraday average. The most popular contract is the June 110 call, followed by the 105 put in the same series.
Published on Jun 12, 2022 at 6:43 PM
Updated on Jun 13, 2022 at 9:57 AM
  • Monday Morning Outlook
Published on Jun 13, 2022 at 9:22 AM
  • Buzz Stocks
  • Analyst Update

The shares of Tesla Inc (NASDAQ:TSLA) are 4.1% lower ahead of the opening bell, last seen trading at $668, despite a bull note from RBC Capital Markets. The analyst in question  upgraded the electric vehicle (EV) maker to "outperform" from "sector perform," noting the potential for a "surprise" beat for its margins in the second quarter. Despite this bullish news, TSLA, alongside much of the tech sector, is pulling back amid a broad sell-off in risk assets.

Meanwhile, RBC Capital Markets' upgrade was accompanied by a price-target cut to $1,100 from $1,175. There's room for covering analysts to join RBC, as the equity's current 12-month consensus price target of $915.47 is a 37.1% premium to Friday's close, while nine of the 20 covering brokerages considered Tesla stock a "hold" or worse coming into today.

In the options pits, traders have moved in favor of bearish bets in recent weeks. TSLA's Schaeffer's put/call open interest ratio (SOIR) of 1.37 stands higher than 79% of readings from the past year -- indicating short-term options traders are incredibly put-biased at the moment.

While Tesla prepares for a potential stock split, its shares are struggling on the charts. Despite a 14.2% year-over-year lead, Tesla stock is down more than 34% in 2022, with failure at its 100-day moving average occurring in early May. What's more, TSLA is coming off its sixth weekly loss in seven.


Published on Jun 13, 2022 at 9:18 AM
  • Buzz Stocks

Stocks related to Bitcoin (BTC) are crumbling today, as the cryptocurrency falls even lower, dropping 14% earlier and moving back below the $24,000 level for the first time since December 2020. The extreme selling the market has seen is seeping into the crypto sphere, leading crypto lender Celsius to pause withdrawals, and, over the weekend, $200 billion was wiped from the cryptocurrency market, putting its market cap back below $1 trillion. 

Two stocks we wanted to highlight, in particular, are Coinbase Global Inc (NASDAQ:COIN) and MicroStrategy Incorporated (NASDAQ:MSTR). The former was last seen down 17.6% at $48.40, while the latter has shed 25% to trade at $152.51. 

The crypto fall-out hasn't been easy on either equity, though MSTR's fall from grace has been especially brutal. The stock was trading as high as $1,316 back in February 2021, and even after some of this buying frenzy cooled, the security managed to rally up near the the $890 mark this past November. Since this annual peak, MicroStrategy stock has shed 82%, with today's plummet putting it dangerously close to its May 12, nearly two-year low of $134.09. 

Coinbase stock, which has been on the scene for a much shorter time period, saw its highest level of trading on the first day it went public in mid-April, climbing as high as $429.54 before closing at $328.28 on the day of its debut. There was another rally to a fresh all-time closing high of $353.92 in early November, though the stock quickly succumbed to several moving averages including its 30- and 80-day. COIN has already shed over 76.7% in 2022, and is nearing its mid-May record low of $40.83. 

Published on Jun 13, 2022 at 9:04 AM
  • Opening View

The major indexes appear ready to extend last week's hefty losses. Futures on the Dow Jones Industrial Average (DJIA) are plummeting 556 points lower, as Friday's inflation reading continues to reverberate through the market. The 2-year Treasury yield jumped 17 basis points to its highest level since 2007 -- briefly topping the 10-year rate -- as investors bet on an aggressive inflation strategy from the Fed. Nasdaq-100 Index (NDX) futures are down triple digits as well, as several tech stocks crumble, while the S&P 500 Index (SPX) eyes a continued fall back into bear market territory.  

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

  • Checking in with Albertsons stock
  • How Signet Jewelers is celebrating Pride Month. 
  • Plus, Bitcoin prices send COIN lower, FDA releases PFE update; and TSLA falls despite upgrade. 

Futures June13

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts traded on Friday, and over 1.1 million put contracts. The single-session equity put/call ratio rose to 0.89, and the 21-day moving average stayed at 0.62.
  2. Coinbase Global Inc (NASDAQ:COIN) is down 18.3% premarket, after a rough weekend from Bitcoin (BTC), which hit its lowest level since December of 2020. Heading into today, COIN is already down 76.7% year-to-date, and will near its mid-May record lows if these losses hold. 
  3. Pfizer Inc (NYSE:PFE) is in the spotlight, after the Food and Drug Administration (FDA) released its briefing document for this week's meeting about Pfizer’s Covid-19 vaccine for young children. Before the bell, PFE is down 1.7%.
  4. RBC Capital Markets upgraded Tesla Inc (NASDAQ:TSLA) to "outperform" from "sector perform," citing near-term improvement and its long-term ability to fend off competition. The broad-market selloff is weighing, however, and TSLA is down 4.2% in electronic trading. 
  5. Today, the Federal Reserve Bank of New York will release its one- and three-year inflation expectation reports.


Investors Await Data from China Amid Global Selloff

Asian markets fell on Monday, as investors looked ahead to a number of key economic indicators out of China, including retail sales data and industrial production for May, both due out on Wednesday. A retightening of Covid-19 restrictions in the region is also dampening sentiment, after Beijing city once again paused sporting events and delayed school returns. In response, China’s Shanghai Composite shed 0.9%, the Hong Kong Hang Seng dropped 3.4%, the South Korean Kospi lost 3.5%, and the Nikkei in Japan fell 3%.

Over in Europe, things are equally as dire, as last Friday’s inflation reading continues to reverberate through global markets. This is while the European Central Bank’s (ECB) plan that was revealed last week for another 25-point rate hike in July, is also dampening investor sentiment. At last glance, the French CAC 40 is 2.5% lower, the London FTSE 100 is down 1.6%, and the German DAX has lost 2.3%.

Published on Jun 13, 2022 at 6:39 AM
  • Buzz Stocks

Today's Stock Market News & Events: 6/13/2022

by Schaeffer's Digital Content Team

This week will be busy, with loads of economic data due out. Multiple updates from the Federal Reserve are sure to keep Wall Street's attention, while a host of indexes will give clues into the economy's performance at the midpoint of this inflation-laden year. As far as earnings are concerned, it'll be relatively bare with earnings season firmly behind us. Of the few names are still set to report, with Adobe (ADBE), Jabil (JBL), Kroger (KR), and Oracle (ORCL) taking center stage.

Today the Federal Reserve Bank of New York will release its one- and three-year inflation expectations reports.

The following public company is slated to release corporate earnings today, June 13:

Oracle Corp. (NYSE:ORCL -- $67.14) provides products and services that address enterprise information technology environments worldwide. Oracle will report its Q2 earnings of 2022 before the bell today.

Looking ahead to tomorrow, the National Federation of Independent Business (NFIB) small-business index will be released alongside producer price index (PPI) final demand data.  

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

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Published on Jun 9, 2022 at 12:19 PM
Updated on Jun 10, 2022 at 4:46 PM
  • Quantitative Analysis
Published on Jun 10, 2022 at 4:29 PM
Updated on Jun 10, 2022 at 4:44 PM
  • Market Recap

A historically dismal consumer price index (CPI) reading for May -- the highest since 1981 -- delivered a fatal blow to stocks on Friday. The Dow fell 880 points, while the Nasdaq and S&P 500 settled sharply lower as well, as all three major indexes logged their third-straight daily loss, and a second consecutive week in the red. The Dow also marked a 10th losing week out of 11. Conversely, the Cboe Volatility Index (VIX), "Wall Street's fear gauge," registered its best week since late April.

Though the selloff has impacted virtually every sector, tech stocks in particular were under pressure as bond yields rose. The alarming inflation reading has traders even more concerned about a potential recession, as it may prompt aggressive interest rate hikes from the U.S. Federal Reserve. 

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

  • 7 cannabis names making headlines this week.
  • Analyst upgrades budget airline stock.
  • Plus, DOCU draws bear notes; price-target cut pauses Netflix stock; and more trouble for RBLX.

The Dow Jones Average (DJI -  31,392.79) dropped 880 points, or 2.7%, for the day, and 4.6% for the week. Walmart (WMT) was the only gainer, adding 0.6%. Dow (DOW), meanwhile, paced the laggards with a 6.1% drop.

The S&P 500 Index (SPX - 3,900.86) shed 117 points, or 2.9% for the day, and 5.1% for the week. Meanwhile, the Nasdaq Composite (IXIC - 11,340.02) lost 414.2 points, or 3.5% for the session, and 5.6% for the week.

Lastly, the Cboe Market Volatility Index (VIX - 27.75) added 1.7 points, or 6.4% for the day, and 12% for the week.

Closing Indexes Summary June 10

NYSE and Nasdaq Stats June 10

5 Things to Know Today

  1. The Biden administration will drop the Covid-19 testing requirement for travelers entering the U.S. on Sunday, after several calls from travel industry players. (CNBC)
  2. Consumer sentiment fell to a worse-than-expected, record low reading of 50.2 in June, down from 58.4 in May, per this University of Michigan survey. (MarketWatch)
  3. Why bear notes rolled in for DocuSign stock today.
  4. Goldman Sachs has turned bearish on Netflix stock.
  5. Roblox's lower revenue growth is making analysts nervous.

Earnings June 10

Unusual Options Activity June 10

Gold Prices Surge as Rate Hike Fears Spiral

Oil prices were lower on Friday, but settled just barely above the $120 mark. The red-hot inflation reading pushed the U.S. dollar higher, and weighed on the commodity sector as it did on equities. July-dated crude fell 84 cents, or 0.7%, to settle at $120.67 per barrel. For the week, black gold managed to walk away with a 1.5% gain. 

Meanwhile, gold prices surged, notching their best day in one week. Investors flocked to the safe-haven commodity today as fears the Federal Reserve may tighten its economic policy spiraled. August-dated gold rose 1.2%, or $22.70, to close at $1,875.50 an ounce, and added 1.4% for the week.

Published on Jun 10, 2022 at 1:39 PM
Updated on Jun 10, 2022 at 3:43 PM
  • 5-Minute Market Rundown

Concerns over the state of the economy dominated Wall Street this week. While stocks ultimately finished above breakeven on Monday, volatility maintained its iron grip on the market, with all three major benchmarks paring gains by the end of the session. The 10-year Treasury yield was to blame, after it reached its highest level in more than a month, stifling the tailwinds U.S. President Joe Biden's plan to lift specific tariffs generated. Those gains came on Tuesday, despite Target's (TGT) slashed profit forecast. The Dow Jones Industrial Average (DJI) scored a notable win, though investors still feared a potential recession, after the Atlanta Federal Reserve’s GDPNow tracker showed lackluster growth for the second quarter.

Steep losses followed on Thursday, however, as bond yields rose once again, igniting economic growth fears. Still, the Cboe Volatility Index (VIX) recorded its lowest close since April 21. Those losses deepened on Thursday, with the Dow tumbling, while both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) plummeted as well. Disappointing jobless claims data, in addition to jitters over the consumer price index (CPI) for May, weighed on sentiment. The long-awaited inflation data came on Friday, much to Wall Street's dismay, as the CPI scored its sharpest rise since 1981. At midday, all three major indexes were lower, while eyeing second-straight weekly losses

Analyst Attention This Week

Brokerage firms were particularly active over the last few days. Raymond James said Spotify (SPOT) is more reliable than streaming name Netflix (NFLX), the latter of which earned a downgrade at Goldman Sachs. The analyst also turned bearish on Docusign (DOCU) following its dismal earnings results. Five Below (FIVE) also took a post-earnings drubbing, attracting no fewer than 11 price-target cuts. 

It wasn't all doom and gloom, though. Exxon Mobil (XOM) popped after Evercore ISI upgraded it on a move deemed a "valuation call." Peabody Energy (BTU) was also in analysts' good graces, with Jefferies bumping the security amid higher energy prices. Meanwhile, Ollie's Bargain Outlet (OLLI) brushed off a slew of bull notes, and Freeport-McMoRan (FCX) edged lower despite a Credit Suisse upgrade. Spirit Airlines (SAVE) received an upgrade as well due to the likelihood of a merger deal with JetBlue Airways (JBLU).



Stocks Attracting High Options Volume 

The options pits were busy as well. Keurig Dr Pepper (KDP) and ON Semiconductor (ON) were on the radar, before the two join the SPX later this month. Another chip name that saw unusually high options activity was Advanced Micro Devices (AMD), while electric vehicle (EV) concern Nio (NIO) saw double the amount of options normally traded after earnings. Upbeat Covid-19 booster news from Moderna (MRNA) also made waves in the options pits, while options bulls blasted Western Digital (WDC) on news that the company was evaluating strategic alternatives to increase value for long-term shareholders. 

Fed Statement in Focus Next Week

All eyes will be on the Federal Reserve next week, which will release a key statement, alongside its projections. A host of indexes that will give clues into the economy are on tap as well, including the producer price index (PPI), as well as the import price, empire state manufacturing, and National Association of Home Builders (NAHB) home builders indexes. The earnings docket looks bare, but Adobe (ADBE), Kroger (KR), and Oracle (ORCL) are still set to report. In the meantime, check this signal that may be indicative of a market bottom, and understand how to take advantage of stock splits.

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