Comcast Stock Nabs Record High After Earnings

Comcast added a record number of high-speed internet users

Assistant Editor
Jul 29, 2021 at 10:02 AM
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Broadcasting giant Comcast Corporation (NASDAQ: CMCSA) stepped up to the earnings plate before today's open, reporting adjusted second-quarter earnings of 84 cents that trounced Wall Street's expectations, alongside revenue that lined up with forecasts. The encouraging report was boosted by a rebound in ad sales, reopening theme parks, and the addition of 294,000 high-speed internet customers -- its best second-quarter performance for the metric.

In response, Comcast stock was last seen 2% higher to trade at $59.16, and earlier scoring a record high of $59.24. Prior to today, the $59 level was elusive for CMCSA, while sharper pullbacks were caught by the shares' 100-day moving average, a trendline that's helped carve out a recent channel of higher highs.

There's bullish sentiment in the options pits, where calls rule the roost. CMCSA sports a 50-day call/put volume ratio of 3.84 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits in the 95th percentile of its annual range. This suggests a healthier-than-usual appetite for long calls over the past 10 weeks.

Echoing this, the stock's Schaeffer's put/call open interest ratio (SOIR), which stands lower than all but 3% of readings from the last year. In other words, short-term options traders have rarely been more call-biased.  

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