Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Sep 16, 2021 at 4:46 PM
Updated on Sep 17, 2021 at 8:05 AM
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Published on Sep 17, 2021 at 8:01 AM
Updated on Sep 17, 2021 at 8:02 AM
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Published on Sep 17, 2021 at 8:00 AM
  • Editor's Pick
  • Bernie's Content

Shares of blue-chip retailer Walmart Inc (NYSE:WMT) have had a volatile 2021, trading as low as $126.28 in March and eclipsing $150 by late August. All of this adds up to WMT remaining just above its year-to-date breakeven mark. However, in recent weeks the equity has pulled back from its Aug. 17, nine-month peak near $153, as well as to a trendline with historically bullish implications. A signal that also looks to be flashing is Walmart stock’s historic performance for the month of September –noteworthy considering September’s oft-bearish seasonality -- which could indicate that now is the perfect time to bet on the blue chip’s next leg higher.

Just ahead of the company’s earnings release, we suggested that with a 14-day Relative Strength Index (RSI) 73, WMT may be in store for a short-term pullback within the coming weeks. Sure enough, WMT is now down 2.5% in the last 30 days. But despite the lackluster price action, September could right the ship.

Specifically, White compiled a list of the 25 best-performing stocks this month, going back 10 years. In this time frame, WMT has seen eight positive one-month returns, with a median gain of 0.9%. That's good for being one of the only two Dow stocks on the list, bested by chip maker Intel (INTC), which boasts an impressive median return of 4.7% in September. A similar move from Walmart stock's Thursday close of $146.42 would put the equity just shy of $148 -- facing off with this month’s $149.65 peak.

bestofseptcotw

Even further, per White, WMT just came within one standard deviation of its 40-day moving average after a lengthy period above the trendline. A commendable 12 similar pullbacks have occurred in the past three years. One month after these signals, Walmart stock was higher 50% of the time, and averaged a return of 1% in that time period. From Thursday’s close, a similar move would put the also just shy of its September peak.

WMTchartw40MA

Keep an eye on Walmart’s options activity, which could lead to an unwinding of bearish bets. The stock's Schaeffer's put/call volume ratio (SOIR) sits higher than 96% of readings in its annual range. This means traders have rarely been more put-biased toward Walmart in the last 12 months. The good news for potential options buyers is Walmart stock premiums are attractively priced right now. This is according to the equity's Schaeffer's Volatility Index (SVI) of 14%, which stands in the low 6th percentile of readings from the past 12 months.

Subscribers to Chart of the Week received this commentary on Sunday, September 12.
Published on Sep 17, 2021 at 7:20 AM
  • Buzz Stocks

Today's Stock Market News & Events: 9/17/2021

by Schaeffer's Digital Content Team

Today the University of Michigan will release its preliminary consumer sentiment index to close out the busy week.

The following company is due to release quarterly earnings today, September 17:

Manchester United plc (NYSE:MANU -- $17.62) owns and operates a professional sports team in the United Kingdom. Manchester United will report its Q4 earnings of 2021 before the bell today.

Looking ahead to next week, Wall Street can expect a busy start to the latter part of September as next week is packed full of economic data. On Monday, the National Association of Home Builders' (NAHB) index is due out, while housing data is on the docket for Tuesday. Wednesday things pick up, with a news conference from Federal Reserve Chairman Jerome Powell taking the spotlight. On Thursday, the bulk of next week's data is due out, including highly anticipated jobless claims data and and purchasing managers' index (PMI) updates. Closing the week out on a quiet note, Friday features some new home sales data.

Earnings, meanwhile, will continue to trickle in next week. Next week's docket features report from Adobe (ADBE), AutoZone (AZO), BlackBerry (BB), Costco (COST), General Mills (GIS), Nike (NIKE), Rite Aid (RAD), and Stitch Fix (SFIX).

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

Published on Sep 16, 2021 at 4:30 PM
  • Market Recap
    
Published on Sep 16, 2021 at 3:29 PM
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  • Earnings Preview

Don't Sweat the Pre-Earnings Lennar Stock Dip

by Schaeffer's Digital Content Team
 
Published on Sep 16, 2021 at 2:26 PM
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Published on Sep 16, 2021 at 1:25 PM
Updated on Sep 16, 2021 at 2:16 PM
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Published on Sep 16, 2021 at 2:15 PM
  • Quantitative Analysis
 
Published on Sep 16, 2021 at 12:08 PM
Updated on Sep 16, 2021 at 12:18 PM
  • Ezines
  • Midday Market Check
 
Published on Sep 16, 2021 at 10:37 AM
  • Buzz Stocks
Drilling down tot today's options activity, 27,000 calls have crossed the tape so far, which is triple the intraday average. Most popular is the January 2022 70-strike call, followed by the September 58.50 call. Buyers of the latter expect more upside for CSCO by the time these contracts expire at the close tomorrow.
Published on Sep 16, 2021 at 10:19 AM
  • Analyst Update
Options traders are chiming in as a result of the positive price action. So far, 20,000 calls and 7,692 puts have exchanged hands, which is six times the intraday average.

Make the Most of the next Expiration Week Countdown!


 
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