Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Oct 24, 2018 at 12:10 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) has explored a more than 400-point range on both sides of breakeven today. While strong earnings from Boeing (BA) initially propped the blue-chip index up over 100 points, a disappointing reading on new home sales -- which fell 5.5% to a roughly two-year low last month -- has soured investor sentiment, putting the Dow on track for its third straight loss.

The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also both in the red, with the former pacing toward a sixth straight loss and the latter flirting with correction territory, as tech stocks sell off on a dismal warning from chipmaker Texas Instruments (TXN) . Elsewhere, oil prices continue to climb out of yesterday's hole, with December-dated crude futures up 0.8% at $66.97 per barrel.

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

  • Goldman Sachs says to buy the dip on this Boeing rival.
  • Bearish analysts blasted struggling JetBlue stock.
  • Plus, options bears target downgraded Seagate Technology stock; Lowe's stock rebounds; and Trivago rallies into familiar resistance.

Midday Market Stats Oct 24

Seagate Technology PLC (NASDAQ:STX) is seeing unusual options volume today, with nearly 5,900 puts on the tape -- double the expected intraday amount. Most active is the December 42.50 put, and data suggests buy-to-open activity here. STX is down 4.6% to trade at $41.47, after being downgraded to "negative" from "neutral" at Susquehanna.

Lowe's Companies, Inc. (NYSE:LOW) is up 0.4% to trade at $98.53, on track to snap a five-day losing streak. LOW has shed 16% since its late-September record high of $117.70, but the pullback appears to have been contained by its 160- and 200-day moving averages. Not to mention, the home improvement stock historically tends to outperform in the fourth quarter.

Trivago NV (NASDAQ:TRVG) is up 20% to trade at $5.93, one of the best stocks on the Nasdaq today, after the travel company reported a third-quarter profit. Last year at this time, TRVG gapped 22.5% lower after earnings. Nevertheless, the stock is running out of steam near famililar resistance around the site of its 40-week moving average.

MMC Daily Chart TRVG

Published on Oct 25, 2018 at 12:06 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) is on the rebound today, up more than 350 points as earnings season hits high gear. A positive reaction for Microsoft's (MSFT) quarterly results has the tech stock at the top of the Dow, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are both confidently higher as well, with the former set to snap its six-day losing streak. In economic data, traders are digesting an unexpected rise in durable goods orders last month, while the U.S. trade deficit widened to a larger-than-anticipated $75.8 billion, and pending home sales rose 0.5% -- more than forecast.

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

  • 2 FAANG earnings to watch tonight.
  • Bears are blasting Electronic Arts stock ahead of earnings.
  • Plus, options bears bet on a big Weight Watchers drop; Spirit Airlines flies higher after earnings; and Align Technology stock nears new lows.

Midday Market Stats Oct 25

Weight Watchers International, Inc. (NASDAQ:WTW) is seeing unusual options volume today, with more than 7,500  puts on the tape -- six times the expected intraday amount. Most active by far is the January 2019 40-strike put, with almost 7,300 contracts changing hands, and the bulk of which appear to be seeing buy-to-open activity. WTW is up 0.9% to trade at $64.78 today, but has shed 39% since its June 20 high of $105.73.

Spirit Airlines, Inc. (NYSE:SAVE) is up 6% to trade at $51.02, one of the best stocks on the New York Stock Exchange (NYSE) today, after the airliner reported third-quarter earnings that exceeded expectations. In response, Deutsche Bank upped its price target on the equity to $59 from $53. SAVE earlier flew to a record high of $51.78, and is now on track for its best day since July 12. The shares pulled back earlier this month, but the dip was quickly contained by their 80-day moving average.

181025 MMC Spirit

Despite a new partnership with 3D Systems (DDD), Align Technology, Inc. (NASDAQ:ALGN) is down 22.6% to trade at $225.09 today, one of the worst stocks on the Nasdaq so far, after the Invisalign parent gave fourth-quarter revenue guidance below expectations. At least seven brokerages have issued price-target cuts, including one to $277 at Evercore. ALGN is heading toward its worst day since October 25, 2007, and is trading at its lowest point in nearly a year.

Published on Oct 25, 2018 at 4:24 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

Stocks bounced back in a big way today, with the Dow finishing 401 points higher thanks to a strong earnings reaction from blue-chip tech giant Microsoft (MSFT). Yesterday's steep losses were largely clawed back, as markets today rallied on a combination of positive quarterly reports and well-received economic data. The S&P 500 finally snapped its six-day losing streak, spearheaded by big gains for a pair of high-profile FAANG stocks ahead of earnings. 

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

  • Analyst: Buy the weakness in housing stocks.
  • Buy LNG stock on sale. 
  • 3 stocks popping on activist investor chatter.
  • Plus, pre-earnings skepticism toward EA; options traders flock to GLUU; and HLT gets an Ackman boost.

The Dow Jones Industrial Average (DJI - 24,984.55) added 401.1 points, or 1.6%. A mere seven Dow stocks ended the day lower, with Verizon (VZ) leading the way, closing down 1.8%. On the flip side, Microsoft (MSFT) paced the 23 winners with a 5.8% burst.

The S&P 500 Index (SPX - 2,705.57) gained 49.5 points, or 1.9%, snapping its daily losing streak at six. Meanwhile, the Nasdaq Composite (IXIC - 7,318.34) jumped 209.94 points, or nearly 3%.

The Cboe Volatility Index (VIX - 24.22) shed 1 point, or 4%, for the day.

us stock market closing index summary oct 25

nyse and nasdaq stats oct 25

5 Items on our Radar Today

  1. Yeti Holdings, Inc (YETI) priced its initial public offering (IPO) at $18 per share, below the company's estimated range of $19-$21. The retailer specializes in high-priced outdoor camping products such as coolers, mugs, and camping equipment. The company had previously withdrawn its IPO earlier in 2018, citing market conditions. (MarketWatch)
  2. Moody's, the famed credit rating agency, revised its outlook on the U.S. retail industry heading into the holiday season. The industry earned a "positive" rating for the first time since July 2015, and Moody's noted, "U.S retail [is]... finally starting to gain traction from investments made over the past couple of years." (Reuters)
  3. Pre-earnings skepticism ramped up on Electronic Arts stock.
  4. Options traders piled on after a sudden burst from GLUU stock.
  5. News of an Ackman stake was just one of the drivers for HLT today.

Corporate Earnings Oct 25

unusual options volume oct 25

Data courtesy of Trade-Alert

Oil, Gold Manage Modest Gains as Stocks Recover

Oil futures edged higher today, recovering from early weakness to move higher alongside stocks. December-dated crude added 51 cents, or 0.8%, to settle at $67.33 per barrel.

Gold was modestly higher today, as heightened volatility in the market props up demand for the safe-haven asset. December-dated gold futures added $1.30, or 0.1%, to close at $1,232.40 per ounce.

Published on Oct 26, 2018 at 9:11 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

It's setting up to be an ugly day on Wall Street, with Dow Jones Industrial Average (DJI) futures pointing to a more than 250-point sell-off. Likewise, the Nasdaq-100 Index (NDX) is also bracing for a triple-digit drop out of the gate. The latest round of corporate earnings has been thoroughly disappointing, headlined by sharp pre-market losses from FAANG members Amazon.com (AMZN) and Alphabet (GOOGL). Against this backdrop, traders are essentially shrugging off a stronger-than-expected third-quarter gross domestic product (GDP) update.

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

stock futures today oct 26

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.18 million call contracts traded on Thursday, compared to 778,374 put contracts. The single-session equity put/call ratio moved down to 0.66, and the 21-day moving average held at 0.66
  2. Taking a closer look at FAANG earnings, AMZN shares are set to slump almost 7% at the open, due to the company's weaker-than-expected outlook for the holiday quarter. GOOGL, meanwhile, is off 5.4% in electronic trading, after the company posted a rare revenue miss for the third quarter.
  3. Joining those two in the losers' circle this morning is Snapchat parent Snap Inc (NYSE:SNAP), cratering 12.5% before the open. The move comes after the social media firm announced a second straight decline in users, and said it expects the trend to continue. This should put SNAP stock at a new all-time low.
  4. One name that was gaining after earnings was Chipotle Mexican Grill, Inc. (NYSE:CMG), after the company posted better-than-expected third-quarter results. CMG shares were signaling a 4% pop at the open, but could now be seeing headwinds from the broad-market weakness, last seen trading around breakeven.
  5. Data on consumer sentiment data also comes out today. Autoliv (ALV), Colgate-Palmolive (CL), and Goodyear Tire (GT) will wind down an active earnings week with their quarterly reports. Looking ahead, next week's schedule will have more earnings releases from FAANG members.

stock market news oct 26

Stocks Everywhere Fall

It was a negative finish across the board in Asia today, with equity benchmarks ending lower after a choppy session. Despite Thursday's big rebound on Wall Street, investors abroad took their cues from steep after-hours earnings declines for U.S. tech giants. By the close, South Korea's Kospi's tumbled 1.8%, Hong Kong's Hang Seng shed 1.1%, Japan's Nikkei gave up 0.4%, and China's Shanghai Composite fell 0.2%.

European equity indexes are broadly lower at midday, following suit with the bearish tone set by Asia. In addition to negative earnings reactions from the likes of Amazon and Google, French auto parts name Valeo has tanked more than 20% after its quarterly results. At last check, France's CAC 40 is down nearly 2%, the German DAX is off 1.4%, and London's FTSE 100 has lost 1.1%.

Published on Oct 26, 2018 at 12:06 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks are selling off once more, with the Dow Jones Industrial Average (DJI) down more than 350 points at midday, almost erasing the gains from yesterday. The S&P 500 (SPX) and Nasdaq Composite (IXIC) are spiraling, as well, with the former hovering near correction territory. Plus, all three indexes are headed for a weekly loss -- the Nasdaq its fourth in a row -- as disappointing FAANG earnings overshadow better-than-expected third-quarter gross domestic product (GDP). Against this backdrop, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), is pacing for a 30% weekly gain.

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

  • 2 stocks at new lows after earnings
  • The chip stock up 17% today.
  • Plus, day traders target Johnson & Johnson; STX stock hit by sector struggles; and AK Steel sinks after earnings.

Midday Market Stats Oct 26

Johnson & Johnson (NYSE:JNJ) is seeing unusual put volume today, with more than 8,500 contracts on the tape -- double the expected intraday amount and volume pacing in the 97th percentile of its annual range. Most active is the weekly 10/26 138-strike put, with more than 2,561 contracts changing hands, and the bulk of which appear to be seeing buy-to-open activity. The Dow stock is down 1.1% to trade at $136.98 today. 

Seagate Technology PLC (NASDAQ:STX) is down 9.6% to trade at $38.66, one of the worst stocks on the S&P 500 today, dragged lower by a dismal quarterly report from sector peer Western Digital (WDC). STX is dangerously close to its annual low of 36.07 from last November, and is now trading below its year-to-date breakeven level. The shares have been pressured lower by their 20-day moving average since an early September bull gap. 

MMC Daily Chart STX

AK Steel Holding Corporation (NYSE:AKS) is down 9.2% to trade at $3.83 today, one of the worst stocks on the New York Stock Exchange (NYSE) so far, after the company's third-quarter earnings and revenue fell short of expectations. The steel stock earlier fell to a two-year low of $3.56, and is on track for its worst day since July. AKS has now shed 32% in 2018, and a breakout earlier this month was contained by the shares' 320-day moving average.

Published on Mar 9, 2022 at 10:31 AM
Updated on Mar 9, 2022 at 12:06 PM
  • Intraday Option Activity
  • Buzz Stocks
So far, 4,566 calls and 4,443 puts have crossed the tape, which is nearly double the amount that's typical at this point. The weekly 3/11 90-strike put is the most popular, with new positions being opened there. 
Published on Mar 9, 2022 at 11:55 AM
  • Buzz Stocks
 
Published on Mar 9, 2022 at 8:00 AM
Updated on Mar 9, 2022 at 11:24 AM
  • Indicator of the Week
    
Published on Mar 9, 2022 at 10:53 AM
  • Buzz Stocks

The shares of Bumble Inc (NASDAQ:BMBL) are soaring today, up 41.3% to trade at $23.55. The dating platform posted fourth-quarter earnings of 13 cents per share, which is higher than analysts' estimated breakeven results, as well as a strong 2022 outlook, though revenue came in slightly lower than expected. Separately, Bumble announced that it will be discontinuing operations in Russia. 

To follow, BMO upgraded BMBL to "outperform" from "market perform," noting that online dating will benefit from easing mobility restrictions caused by the pandemic as it transitions to an endemic. No fewer than five analysts slashed their price targets, however, while Cowen and Company raised its price objective by $2 to $38. 

Today's bull gap has BMBL rebounding from yesterday's record low of $15.41. Several moving averages still linger above as potential pressure, however, including the stock's 30-day trendline, which has helped guide the stock lower in recent months. Year-to-date, the equity is still down 30.4%. It's worth noting that Bumble stock was due for a short-term bounce, as its 14-day Relative Strength Index (RSI) of 15.5 sits firmly in "oversold" territory. 

An unwinding of pessimism in the options pits could give the security a further boost. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BMBL's 50-day put/call volume ratio of 1.41 is higher than all but 1% of readings from the past year. 

This shift in sentiment appears to have already begun, as options are picked up at 30 times the typical intraday average, with overall volume pacing for the top percentile of its annual range. So far, 25,000 calls and 16,000 puts have crossed the tape. The March 30 call is the most popular, followed by the 25 call in the same monthly series, with new positions being bought to open at both. 

 

Published on Mar 9, 2022 at 9:56 AM
  • Buzz Stocks
 
Published on Mar 9, 2022 at 9:23 AM
  • Buzz Stocks

The shares of Amazon.com, Inc. (NASDAQ:AMZN) are up 2.1% at $2,778.02 this morning, as investors brush off news that the House Judiciary Committee has just requested that the Justice Department begin a criminal probe of the e-tail giant. The Wall Street Journal reported that a letter seen by the paper accuses Amazon of possible criminal obstruction of Congress by failing to provide information requested by lawmakers as part of an antitrust investigation into its competitive practices. 

Yesterday, the stock hit its lowest level since June 2020, as the equity feels the weight of several major moving averages including its 50-day. The move also put AMZN below a recent floor at the $2,750 level, too, and bringing its year-to-date deficit to 18.4%. Today's move higher has the equity set to open back above the region, however. 

Analyst sentiment still remains incredibly high. The security earned a bevy of post-earnings bull notes in early February, and these analysts have maintained their positions since, with all 29 in coverage calling the stock a "buy" or better. What's more, the 12-month consensus price target of $4,099.88 is a 47.5% premium to current levels. 

Options traders, on the other hand, have been extremely bearish. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock sports a 10-day put/call volume ratio of 1.11, which stands higher than all other readings from the past year. In other words, long puts haven't been more popular than they've been during the past two weeks. 

Short-term options traders have also been quite put-biased. This is per the equity's Schaeffer's put/call open interest ratio (SOIR) of 1.13, which stands higher than 73% of readings from the past year. 

Published on Mar 9, 2022 at 7:41 AM
  • Buzz Stocks

Today's Stock Market News & Events: 3/9/2022

by Schaeffer's Digital Content Team

Today job openings and quits are on tap.

The following public company is slated to release corporate earnings today, March 9:

Campbell Soup Co. (NYSE:CPB -- $42.30) manufactures and markets food and beverage products the United States and internationally. Campbell Soup will report its Q4 earnings of 2021 before the open today.

Diversey Holdings Ltd. (NASDAQ:DSEY -- $7.50) provides infection prevention and cleaning solutions worldwide. Diversey Holdings will report its Q4 earnings of 2021 before the open today.

Ebix Inc. (NASDAQ:EBIX -- $25.37) provides on-demand software and e-commerce services and solutions to insurance, financial, healthcare, and e-learning industries in the United States and internationally. Ebix will report its Q4 earnings of 2021 before the open today.

Korn Ferry (NYSE:KFY -- $61.01) provides organizational consulting services worldwide. Korn Ferry will report its Q4 earnings of 2021 before the open today.

Oatly Group AB (NASDAQ:OTLY -- $5.73) provides a range of plant-based dairy products made from oats in Sweden. Oatly Group AB will report its Q4 earnings of 2021 before the open today.

REV Group Inc. (NYSE:RVLV -- $41.68) operates as an online fashion retailer for consumers in the United States and internationally. REV Group will report its Q4 earnings of 2021 before the open today.

The Children's Place Inc. (NASDAQ:PLCE -- $58.00) operates as a children's specialty apparel retailer. The Children's Place will report its Q4 earnings of 2021 before the open today.

Thor Industries Inc. (NYSE:THO -- $84.68) designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. Thor Industries will report its Q4 earnings of 2021 before the open today.

United Natural Foods Inc. (NYSE:UNFI -- $39.67) distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. United Natural Foods will report its Q4 earnings of 2021 before the open today.

Vera Bradley Inc. (NASDAQ:VRA -- $6.79) designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. Vera Bradley will report its Q4 earnings of 2021 before the open today.

Vertex Inc. (NASDAQ:VTNR -- $7.66) provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. Vertex will report its Q4 earnings of 2021 before the open today.

Asana Inc. (NYSE:ASAN -- $44.49) operates a work management platform for individuals, team leads, and executives in the United States and internationally. Asana will report its Q4 earnings of 2021 after the close today.

Couchbase Inc. (NASDAQ:BASE -- $17.46) develops and provides a NoSQL database for enterprises worldwide. Couchbase will report its Q4 earnings of 2021 after the close today.

CrowdStrike Holdings Inc. (NASDAQ:CRWD -- $156.77) provides cloud-delivered endpoint and cloud workload protection solutions in the United States and internationally. CrowdStrike will report its Q4 earnings of 2021 after the close today.

Embraer S.A. (NYSE:ERJ -- $12.33) designs, develops, manufactures, and sells aircrafts and systems in Brazil, North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. Embraer will report its Q4 earnings of 2021 after the close today.

Franco-Nevada Corp. (NYSE:FNV -- $161.85) operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. Franco-Nevada will report its Q4 earnings of 2021 after the close today.

KE Holdings Inc. (NYSE:BEKE -- $13.42) engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. KE Holdings will report its Q4 earnings of 2021 after the close today.

Marqeta Inc. (NASDAQ:MQ -- $9.73) operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. Marqeta will report its Q4 earnings of 2021 after the close today.

Looking ahead to tomorrow, Thursday will see initial and continuing jobless claims, the core CPI, information on real domestic nonfinancial debt for the fourth quarter, as well as the fourth quarter's real household wealth data. The Federal budget deficit will also be out later in the day. 

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

Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!

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