Earnings Season Highlights

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A collection of noteworthy post-earnings reactions

Published on May 12, 2021 at 2:22 PM

Quantitative Analysis

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Signal Says Red-Hot Oil Stock Has Room to Run

by Laura McCandless

Published on May 12, 2021 at 11:22 AM

Updated on May 12, 2021 at 2:03 PM

Technical Analysis
Options Recommendations

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Don't Sweat This Software Stock's Pullback

by Research Dept.

Software concern VMware, Inc. (NYSE:VMW) recently found support at the $157 mark, which also happens to be the same level that put pressure on the equity in May, June, and October of 2020. What's more, the 20-day moving average is helping the shares move higher on the charts. With these technical layers of support in place, now looks like a great time to purchase VMW calls.

Additional tailwinds could also come from a shift in the options pits. This is per VMware stock's 10-day put/call volume ratio at the international Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQOMX PHLX (PHLX), which ranks in the 79th percentile of readings from the past year.

Currently, analysts are split on the security, with nine of the 17 in coverage rating it a "buy" or better versus eight that recommend a "hold" rating. This leaves plenty of room for upgrades going forward. Short interest has been on the rise too, and is currently sitting at its highest level in two years. The 11.37 million shares sold short represent a healthy 14.6% of the stock's available float, though it has yet to roll over.

Lastly, now looks like an affordable time to weigh in on VMW's next move with options, as the stock's Schaeffer's Volatility Index (SVI) of 27% sits higher than 11% of readings from the past year. This is a boon for premium buyers, as it indicates options are particularly cheap at the moment. Our recommended call has a leverage ratio of 8.8 and will double in value on a 10.6% rise in the underlying security.

Subscribers to Schaeffer's Weekend Trader options recommendation service received this VMW commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

Published on May 12, 2021 at 10:19 AM

Updated on May 12, 2021 at 10:51 AM

Buzz Stocks

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EA Volatile Despite Upbeat Q4 Earnings, Revenue Forecast

by Fernanda Horner

Drilling down to today's options activity, 6,383 calls and 4,902 puts have already crossed the tape, which is 10 times what is typically seen at this point. Most popular is the weekly 5/14 150-strike call, followed by the 5/28 135-strike put, with new positions being opened at the latter.

Published on May 12, 2021 at 10:45 AM

Intraday Option Activity
Buzz Stocks

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FuboTV Stock Pops on Upbeat Revenue, Forecast

by Laura McCandless

FUBO options are taking off post-earnings, with overall volume running at five times what's typically seen at this point. So far, 99,000 calls and 52,000 puts have crossed the tape, with the weekly 5/14 21-strike call, where new positions are being opened, seeing the most activity.

Published on May 12, 2021 at 10:16 AM

Intraday Option Activity
Buzz Stocks

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Option Traders Eat Up Wendy's Stock After Earnings

by Jake Scott

Wendy's typically quiet options pits are exploding today, with traders from both sides of the aisle chiming in. So far, 6,441 calls and 5,587 puts have exchanged hands -- 68 times the intraday average.

Published on May 12, 2021 at 9:25 AM

Buzz Stocks

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Intuit Stock Nabs Analyst Bull Note Before Earnings

by Lillian Currens

Intuit Inc. (NASDAQ:INTU) is gearing up for its fiscal third-quarter earnings release, expected out later this month after the market closes on Tuesday, May 25. The company said on Tuesday that it will most likely top the fiscal 2021 sales and earnings forecast it set in February, though revenue could lag because of this year's tax filing extension to May 17. RBC lifted its price target to $490 from $480 in response.

Intuit stock is flat despite the announcement, last seen just a hair's breadth above last night's close at $395. The past year has been a choppy one for INTU, with the $420 mark acting as a ceiling on two separate occasions since February, keeping the stock from reclaiming its Feb 16. all-time high of $423.74. Nevertheless, the security still sports a 37.2% year-to-date lead, with the 120-day moving average containing most of INTU's pullbacks since April 2020.

Analysts are overwhelmingly bullish on the equity. Coming into today, 12 considered the stock a "strong buy," compared to just three "hold" ratings. Plus, the 12-month consensus price target of $451.61 is a 14.3% premium to current levels.

Options traders have taken a much different stance. In fact, over six puts have been picked up for every call during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than all but 2% of readings from the past 12 months, suggesting a much healthier-than-usual appetite for long puts of late.

Short sellers have been targeting INTU in droves, too. Short interest surged 26.5% in the most recent reporting period. The 2.91 million shares sold short still make up a slim 1.1% of the stock's available float, though, and it would take a little over two days to buy back these bearish bets at INTU's average daily pace of trading.

Published on May 12, 2021 at 9:25 AM

Earnings Preview

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Breaking Down This Vehicle Giant's Earnings History

by Schaeffer's Digital Content Team

Published on May 12, 2021 at 9:16 AM

Earnings Preview

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Is This Penny Stock Worth a Flier as Commodities Boom?

by Schaeffer's Digital Content Team

Published on May 12, 2021 at 8:00 AM

Indicator of the Week

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Is There Any Credibility to This Century-Old Trading Theory?

by Rocky White

Published on May 12, 2021 at 6:38 AM

Buzz Stocks

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Today's Stock Market News & Events: 5/12/2021

by Schaeffer's Digital Content Team

Things attention turns toward the consumer price index (CPI) and core CPI readings. In addition, the latest Federal budget balance is due out today.

The following companies are slated to release quarterly earnings reports today, May 12:

APi Group Corp. (NYSE:APG -- $20.85) provides safety, specialty, and industrial services. APi Group will report its Q1 earnings of 2021 before the bell today.

Dream Finders Homes Inc. (NASDAQ:DFH -- $27.95) operates as a holding company for Dream Finders Holdings LLC. Dream Finders Homes will report its Q1 earnings of 2021 before the bell today.

Dynatrace Inc. (NYSE:DT -- $45.38) provides a software intelligence platform for the enterprise cloud applications. Dynatrace will report its Q1 earnings of 2021 before the bell today.

Lumentum Holdings Inc. (NASDAQ:LITE -- $82.14) manufactures and sells optical and photonic products. Lumentum will report its Q1 earnings of 2021 before the bell today.

SFL Corp. Ltd. (NYSE:SFL -- $7.95) engages in the ownership, operation, and chartering out of vessels and offshore related assets. SFL will report its Q1 earnings of 2021 before the bell today.

Tower Semiconductor Ltd. (NASDAQ:TSEM -- $27.57) an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices. Tower Semiconductor will report its Q1 earnings of 2021 before the bell today.

The Wendy's Co. (NASDAQ:WEN -- $22.80) operates as a quick-service restaurant company. Wendy's will report its Q1 earnings of 2021 before the bell today.

Wix.com Ltd. (NASDAQ:WIX -- $289.90) develops and markets a cloud-based platform. Wix.com will report its Q1 earnings of 2021 before the bell today.

Wolverine World Wide Inc. (NYSE:WWW -- $42.74) designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. Wolverine will report its Q1 earnings of 2021 before the bell today.

1Life Healthcare Inc. (NASDAQ:ONEM -- $38.78) operates a membership-based primary care platform. 1Life Healthcare will report its Q1 earnings of 2021 after the market closes today.

Amdocs Ltd. (NASDAQ:DOX -- $74.80) provides software and services to the communications, cable and satellite, entertainment, and media industry service providers. Amdocs will report its Q1 earnings of 2021 after the market closes today.

American Well Corp. (NYSE:AMWL -- $12.71) operates as a telehealth company. American Well will report its Q1 earnings of 2021 after the market closes today.

Boot Barn Holdings Inc. (NYSE:BOOT -- $72.20) operates as a lifestyle retail chain. Boot Barn Holdings will report its Q1 earnings of 2021 after the market closes today.

Bumble Inc. (NASDAQ:BMBL -- $50.65) provides online dating and social networking platforms. Bumble will report its Q1 earnings of 2021 after the market closes today.

Datto Holding Inc. (NYSE:MSP -- $24.92) provides cloud-based software and technology solutions. Datto Holding will report its Q1 earnings of 2021 after the market closes today.

GoHealth Inc. (NASDAQ:GOCO -- $11.88) operates as a health insurance marketplace. GoHealth will report its Q1 earnings of 2021 after the market closes today.

GrowGeneration Corp. (NASDAQ:GRWG -- $39.96) owns and operates retail hydroponic and organic gardening stores. GrowGeneration will report its Q1 earnings of 2021 after the market closes today.

Jack in The Box Inc. (NASDAQ:JACK -- $122.32) operates and franchises Jack in the Box quick-service restaurants. Jack in The Box will report its Q1 earnings of 2021 after the market closes today.

ON24 Inc. (NYSE:ONTF -- $38.82) provides a cloud-based digital experience platform. ON24 will report its Q1 earnings of 2021 after the market closes today.

Pan American Silver Corp. (NASDAQ:PAAS -- $34.66) engages in the exploration, development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines. Pan American Silver will report its Q1 earnings of 2021 after the market closes today.

Poshmark Inc. (NASDAQ:POSH -- $44.05) operates as a social marketplace for new and secondhand style products. Poshmark will report its Q1 earnings of 2021 after the market closes today.

Sonos Inc. (NASDAQ:SONO -- $34.87) designs, develops, manufactures, and sells multi-room audio products. Sonos will report its Q1 earnings of 2021 after the market closes today.

Tattooed Chef Inc. (NASDAQ:TTCF -- $17.09) produces and sells a portfolio of frozen foods. Tattooed Chef will report its Q1 earnings of 2021 after the market closes today.

Vroom Inc. (NASDAQ:VRM -- $36.88) operates an e-commerce platform for buying and selling of new and used cars. Vroom will report its Q1 earnings of 2021 after the market closes today.

ContextLogic Inc. (NASDAQ:WISH -- $11.78) operates as a mobile ecommerce company. ContextLogic will report its Q1 earnings of 2021 after the market closes today.

Looking ahead to tomorrow, more initial and continuing jobless claims data are due out. Plus, with inflation a hot topic of late, the producer price index (PPI) will garner some much earned attention. All economic dates listed here are tentative and subject to change.

Published on May 11, 2021 at 1:35 PM

Buzz Stocks

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Keeping Tabs on These 2 Electric Vehicle Giants

by Fernanda Horner

Published on May 11, 2021 at 1:31 PM

Intraday Option Activity

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HD Brushes Off Bull Notes, Options Bears Buy in

by Laura McCandless

So far, 32,000 puts have crossed the tape, with puts running at double what's typically seen at this point. The weekly 5/14 325-strike put, where new positions are being opened, is seeing the most activity.