AMD, Boeing Stocks at New Highs After Earnings

Ford shares are retreating after earnings to test recent support at $11

Managing Editor
Jul 26, 2017 at 10:24 AM
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U.S. stocks are at record highs this morning, boosted by the latest batch of big-cap earnings. Among specific equities making big moves after earnings are Apple supplier Advanced Micro Devices, Inc. (NASDAQ:AMD), car maker Ford Motor Company (NYSE:F), and Dow stock Boeing Co (NYSE:BA). Here's a quick look at how shares of AMD, F, and BA are trading today.

AMD Stock Breaks Out After Earnings Beat, Analyst Notes

Advanced Micro Devices stock is up 9.2% to trade at $15.65, earlier notching a new 10-year high of $15.65, and breaking through long-term technical resistance near $14.50. Last night, the company reported adjusted second-quarter earnings that exceeded expectations, and raised its forecast for 2017 on strong graphics chip demand.

A round of price-target hikes is only adding fuel to the fire, with Rosenblatt Securities lifting its 12-month target to $19 -- territory not charted since January 2007. With AMD stock now boasting a 120% year-over-year lead, another round of bullish brokerage notes could come down the pike. As of last night's close, the majority of analysts covering the shares maintained a "hold" or "strong sell" rating, while BMO today cut its outlook to "market perform" from "outperform."

Ford Stock Stalls on Pre-Tax Profit Forecast

Ford Motor stock is down 2% to trade at $11.05, as the company's full-year pre-tax profit warning overshadows a second-quarter earnings beat. Additionally, Buckingham Research suggested "investors remain on the sidelines" on risks of lower domestic volumes and "continued pricing pressure." Today's decline brings the shares year-to-date deficit to 9%, and has F stock testing its foothold atop $11 -- a level that's served as a floor since June. 

It looks as if Ford options traders were bracing for a post-earnings retreat. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock has a 10-day put/call ratio of 0.96, which ranks in the 81st percentile of its annual range.

Boeing Stock Flying High After Earnings Beat

Boeing stock is up 8.1% to trade at $229.69, fresh off a new record high of $229.80, after the aerospace giant reported second-quarter earnings that beat estimates raised its 2017 forecast for the second time this year. It's been a stellar year for BA shares, which have tacked on 47.5% year-to-date to lead the Dow. 

Despite Boeing's long-term success, some analysts are not convinced. Of the 14 brokerages covering BA stock, six rate it a "hold" or worse. This means there is plenty of room for upgrades, which could send the shares higher down the road. 

 

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