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 The stock market was mostly higher on Wednesday following news U.S. inflation growth may have peaked. Specifically, the consumer price index increased 0.5% last month after rising 0.9% in June, the largest drop for inflation data in 15 months. This helped ease concerns about the potential for runaway inflation with the broader market and the blue-chips setting another round of record highs. Tech struggled after falling for the third time in four sessions while volatility eased for the first time in three sessions. The Dow finished at 35,484 (+0.6%) after tapping a record high of 35,501. Fresh and key resistance at 35,500 was cleared but held. A close above this level would indicate additional upside towards 35,750-36,000. The Russell 2000 ended at 2,250 (+0.5%) and the session peak. Key resistance at 2,250 was recovered. Continued closes above this level and the 50-day moving average would suggest a retest towards 2,275-2,300. The S&P 500 kissed a lifetime high of 4,449 shortly after the opening bell before settling at 4,447 (+0.3%). New resistance at 4,450 was challenged but held for the second-straight session. A pop above this level would signal ongoing strength towards 4,475-4,500. The Nasdaq closed at 14,765 (-0.2%) after trading to an intraday low of 14,692. Key support at 14,750 was breached but held. A close below this level would likely lead to a further pullback towards 14,650-14,500. EARN 58% & MORE Per Trade On Average
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ANALYST UPGRADES/DOWNGRADESArray Technologies (ARRY) upgraded to Buy from Neutral at Roth Capital   THURSDAY'S EARNINGS ANNOUNCEMENTS After the close: Airbnb (ABNB), BioLife Solutions (BLFS), ContextLogic (WISH), DoorDash (DASH), Everspin Technologies (MRAM), Flowers Foods (FLO), Globant (GLOB), Hydrofarm Holdings (HYFM), Iridex (IRIX), Luminar Technologies (LAZR), MediaAlpha (MAX), NeuroPace (NPCE), One Stop Systems (OSS), Progenity (PROG), Rocket Companies (RKT), SoFi (SOFI), Tattooed Chef (TTCF), Viavi Solutions (VIAV), Walt Disney (DIS), Zipcar (ZIP) THURSDAY'S ECONOMIC NEWS    METALS/ OIL   Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Keep an eye on Anavex Life Sciences (AVXL). Over the last few months, the stock exploded from a low of about $4 to 30. While the stock recently pulled back, use the weakness as opportunity.
All after the company reported that the “predictive biomarker of response established with SIGMAR1 mRNA expression correlates significantly with responses in primary and secondary clinical efficacy endpoints from the proof-of-concept randomized, double-blind, placebo-controlled Phase 2 trial that randomized 132 patients with Parkinson’s disease dementia equally to target doses of 30mg, 50mg ANAVEX®2-73 or placebo, respectively,” as noted in a company press release. This is just one of the opportunities we find quite often inside Extreme Option Profits.
 The post Extreme Option Profits Chart of Day… ChargePoint Holdings (CHPT) appeared first on Trading Concepts, Inc.. |
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AMC Entertainment Holdings cut its net loss to $344 million in the June quarter. Shares were on the rise after the movie theater firm’s results topped estimates. AMC reported on Monday a net loss of 71 cents a share, slimmer than the 94 cents a share that analysts had anticipated. It was narrower than the $1.42 per-share net loss in the first quarter, and a loss of $5.36 a share in the second quarter of 2020. The company also reported revenue of $444.7 million, ahead of expectations for $382 million, up from $148 million in the first quarter and $19 million amid the theater shutdowns in the second quarter of 2020. Shares of AMC (ticker: AMC) were up 10.5% to $37.33 in pre-market trading Tuesday. Prior to the report, options markets implied a post-earnings move of about 10% in either direction. The stock has averaged a move up or down of 8% following the past four quarterly earnings reports. AMC CEO Adam Aron said the company raised $1.25 billion, before commissions and fees, in stock sales during the quarter. The company ended the quarter with $2 billion in cash and undrawn revolving lines of credit. “We believe this gives AMC financial staying power to navigate boldly amidst coronavirus waters,” Aron said. “And by June 30, substantially all of our theatres were open again to entertain and delight our guests. Thanks to increased vaccination counts in the countries we serve, we started to see rising movie going demand, and we safely welcomed more than 22 million guests back to our theatres across the globe during the course of the second quarter.” AMC stock is up 656% in the past 12 months and 1,494% year to date. That said, the stock has shed 53% from its peak levels in June. The company’s shares initially surged in January amid a broader rise in highly shorted stocks popular on social media, such as GameStop (GME). EARN 58% & MORE Per Trade On Average
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AMC and GameStop are so-called meme stocks, meaning their daily moves can be erratic due to nonfundamental factors like short seller activity, social media sentiment, and options volume. AMC led a resurgence in meme stocks in May and early June, though the shares have fallen in recent weeks. The company’s conference call ran for more than an hour. Aron made several announcements, fielded questions submitted by retail investors, and answered questions from an analyst. Aron announced that AMC and Warner Bros had reached a formal agreement to show all of their movies in calendar-year 2022 with a 45-day window before films hit streaming services. WarnerMedia previously had said its decision to release films on HBO Max simultaneously with theaters was limited to 2021 due to the pandemic. He announced the company plans to start accepting Bitcoin for movie tickets and concessions by the end of the year. He also said AMC is in talks to lease as many as eight locations previously operated by Arclight Cinemas and Pacific Theatres, in addition to two previously announced Los Angeles area locations. Asked repeatedly by retail investors about a partnership with fellow meme stock GameStop for gaming events, Aron seemed to express interest but said the companies had not yet spoken about such an idea. Some investors proposed bold ventures like expanded family entertainment offerings like laser tag and creating original content. Aron stressed that if shareholders were on board with authorizing more stock, he’d have more leeway to invest in growth initiatives. You’d need to make bold assumptions about the future of entertainment to justify owning the stock at recent levels. The mean analyst price target on FactSet is $5.25 a share, implying 84% downside. On the flip side, AMC hasn’t traded on fundamentals for some time. The earnings report could attract new short sellers, as well as renewed interest in meme stocks on social media. Source: https://www.marketwatch.com/articles/amc-earnings-stock-51628526105?mod=mw_more_headlines I hope this news article helps!  The post AMC Stock Is Soaring Because Earnings Weren’t as Bad as Feared appeared first on Trading Concepts, Inc.. |
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The stock market showed strength after the Senate passed a $1 trillion infrastructure bill aimed at rebuilding roads, bridges and other infrastructure projects across the country. The bill will now head to the House of Representatives for a final vote. Senators also began voting on a follow-up $3.5 trillion spending package that Democrats plan to pass without Republican votes. The news gave a boost to the Energy, Industrials and Materials sectors, which stand to benefit the most from an economic recovery, while the Tech sector lagged. The Dow tested an intraday and all-time high of 35,285 before closing at 35,264 (+0.5%). Unchartered territory and key resistance at 35,250 was cleared and held. Continued closes above this level would suggest momentum towards 35,500-35,750. The Russell 2000 finished at 2,239 (+0.2%) after trading to an afternoon high of 2,245. Key resistance at 2,250 was challenged but held. A pop above the latter and the 50-day moving average would signal additional strength towards 2,275-2,300. The S&P 500 tapped a record peak of 4,445 while ending at 4,436 (+0.1%). Fresh and key resistance at 4,450 was challenged but held. A move above this level would indicate additional upside towards 4,475-4,500. The Nasdaq kissed a morning low of 14,754 before settling at 14,788 (-0.5%). Key support at 14,750 was approached but held. A move below this level would likely lead to a retest towards 14,650-14,500. EARN 58% & MORE Per Trade On Average
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ANALYST UPGRADES/DOWNGRADESArray Technologies (ARRY) upgraded to Buy from Neutral at Roth Capital WEDNESDAY'S EARNINGS ANNOUNCEMENTS After the close: Array Technologies (ARRY), Blink Charging (BLNK), Clover Health (CLOV), Desktop Metal (DM), eBay (EBAY), Finance of America (FOA), Guild Holdings (GHLD), Inotiv (NOTV), KE Holdings (BEKE), Lordstown Motors (RIDE), NeoGames (NGMS), Opendoor Technologies (OPEN), Rackspace Technology (RXT), Sonos (SONO), Trean Insurance Group (TIG), Vroom (VRM), Yield10 Bioscience (YTEN) WEDNESDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Keep an eye on Anavex Life Sciences (AVXL). Over the last few months, the stock exploded from a low of about $4 to 30. While the stock recently pulled back, use the weakness as opportunity.
All after the company reported that the “predictive biomarker of response established with SIGMAR1 mRNA expression correlates significantly with responses in primary and secondary clinical efficacy endpoints from the proof-of-concept randomized, double-blind, placebo-controlled Phase 2 trial that randomized 132 patients with Parkinson’s disease dementia equally to target doses of 30mg, 50mg ANAVEX®2-73 or placebo, respectively,” as noted in a company press release. This is just one of the opportunities we find quite often inside Extreme Option Profits.
The post Extreme Option Profits Chart of Day… Anavex Life Sciences (AVXL) appeared first on Trading Concepts, Inc.. |
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The stock market slipped on Monday as the resurgent pandemic pushed oil and energy stocks lower. Energy was the weakest sector after shedding 1.4% as mounting coronavirus cases, and the potential for restrictions, raised worries about the fuel demand outlook. Tech and the Financial stocks showed strength following a rise in Treasury yields to keep the major indexes near record highs. Volatility was higher for the first time in five sessions but held a key level of resistance. The Nasdaq closed at 14,860 after trading to a high of 14,883 (+0.2%). Key resistance at 14,900 was challenged but held. A pop above this level and last Thursday’s all-time high at 14,896 would be a bullish signal for a run towards 15,000-15,150. The Russell 2000 finished at 2,234 (-0.6%) with the late day low hitting 2,131. Current and upper support at 2,225-2,200 was challenged but held. A move below the latter would suggest a retest towards 2,175-2,150. The Dow tested a morning low of 35,041 before ending at 35,101 (-0.3%). Key support at 35,000 easily held. A drop below this level would indicate a fade towards 34,750-34,500 and the 50-day moving average. The S&P 500 tagged an intraday low of 4,424 before settling at 4,432 (-0.1%). Near-term and upper support at 4,425-4,400 was breached but held. A close below the latter would likely lead to additional weakness towards 4,375-4,350. EARN 58% & MORE Per Trade On Average
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ANALYST UPGRADES/DOWNGRADESAdvanced Micro Devices (AMD) upgraded to Market Perform from Underperform at BMO Capital TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: Absolute Software (ABST), Bottomline Technologies (EPAY), Coinbase Global (COIN), Darling International (DAR), Eastman Kodak (KODK), FuboTV (FUBO), Grocery Outlet (GO), HyreCar (HYRE), Key Tronic (KTCC), Newtek Business Services (NEWT), OppFi (OPFI), PDF Solutions (PDFS), Rain Therapeutics (RAIN), ShotSpotter (SSTI), Upstart Holdings (UPST), VeriFone Holdings (PAY), Zeta (ZETA) TUESDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Warren Buffett’s Berkshire Hathaway Inc. said Saturday that second-quarter net earnings rose 7%, boosted by improved results for its railroad, utilities and energy companies. Berkshire reported second-quarter net earnings of $28.1 billion, or $18,488 per Class A share equivalent, compared with a profit of $26.3 billion, or $16,314 per Class A share equivalent, in the year-earlier period. Operating earnings, which exclude some investment results, rose to $6.7 billion from $5.5 billion in the year prior. Profits increased within the company’s railroad, utilities and energy divisions but declined at the company’s vast insurance operations. The company said that earnings for most of its manufacturing, service and retailing businesses declined considerably last year thanks to the coronavirus pandemic, but over the second half of 2020 and into 2021, many of its businesses have recovered and in some cases, now exceed pre-pandemic levels. The conglomerate runs a large insurance operation as well as a railroad, utilities, industrial manufacturers, retailers and even auto dealerships. It also holds large investments, especially in the stock market. An accounting rule change in recent years has meant that Berkshire’s earnings often reflect the larger performance of the stock market, while operating earnings more accurately reflect the firm’s large business operations. Despite a reputation for often either purchasing companies outright or making direct loans during these types of times in markets, Buffett’s firm was largely silent for much of the pandemic. The firm’s biggest deal came in the middle of last year when Berkshire announced an agreement to buy Dominion Energy’s midstream energy business for $9.7 billion including debt. EARN 58% & MORE Per Trade On Average
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One area Buffett has been active is in buying back Berkshire stock. Last year, Berkshire bought back nearly $25 billion in shares after refusing to buy back company stock for much of the past few decades. On Saturday, Berkshire disclosed that it paid about $6 billion to purchase shares in the second quarter and has spent $12.6 billion in the first six months of 2021 to repurchase its shares. Berkshire held $144.1 billion in cash at the end of the second quarter, down from about $145.4 billion in cash at the end of the first quarter. Class A shares closed Friday up 2.1% at $430,160. The shares are up more than 20% for the year. Here’s to your trading success, I hope it helps. The post Berkshire posts higher profit on railroad, utilities and energy operations appeared first on Trading Concepts, Inc.. |
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The stock market pushed another round of record highs on Friday following a stronger-than-expected rebound in employment and a drop in the jobless rate. The July jobs report showed 943,000 jobs were added in July as the unemployment rate fell to 5.4%, the lowest level since March 2020.
Tech lagged following a rise in Treasury yields but still ended the week in positive territory. Meanwhile, volatility continued to ease after falling towards mid-July support levels.
The Dow tested an intraday and all-time high of 35,246 before closing at 35,208 (+0.4%). Key resistance at 35,200 was cleared and held. Continued closes above this level would suggest momentum towards 35,500-35,750.
 The S&P 500 tapped a record peak of 4,440 while ending at 4,436 (+0.2%). Unchartered territory and key resistance at 4,450 was challenged but held. A move above this level would indicate additional strength towards 4,475-4,500.  The Russell 2000 finished at 2,247 (+0.6%) after trading to an opening high of 2,258. Prior and lower resistance at 2,250-2,275 and the 50-day moving average were cleared but levels that held. A pop above the latter would signal ongoing strength towards 2,300-2,325. Below is a chart of the IWM.  The Nasdaq pushed a morning low of 14,788 before settling at 14,835 (-0.4%). Key support at 14,750 was challenged but held. A move below this level would likely lead to a retest towards 14,650-14,500.  EARN 58% & MORE Per Trade On Average
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ANALYST UPGRADES/DOWNGRADESAmerican Water (AWK) upgraded to Buy from Hold at Argus Cloudflare (NET) downgraded to Neutral from Outperform at Baird MONDAY'S EARNINGS ANNOUNCEMENTS After the close: 3D Systems (DDD), AMC Entertainment (AMC), Callaway Golf (ELY), Chegg (CHGG), Digital Turbine (APPS), Ethan Allen Interiors (ETH), FlexShopper (FPAY), Halozyme Therapeutics (HALO), IntriCon (IIN), Lufax Holding (LU), Mesa Air Group (MESA), New Age Beverages (NBEV), Organogenesis Holdings (ORGO), Planet Fitness (PLNT), Qualys (QLYS), Repay Holdings (RPAY), SmileDirectClub (SDC), Tricida (TCDA), Vuzix (VUZI), Yalla Group (YALA) MONDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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The stock market rebounded on Thursday following better-than-expected jobless claims numbers with the major indexes resuming another run at all-time highs. Specifically, initial claims fell by 14,000 to 385,000, while layoffs dropped to their lowest level in more than two decades.
The gains pushed the overall market into positive territory for the week and ahead of Friday’s key report on non-farm payrolls. Meanwhile, volatility fell back below a key level of support for the first time in nine sessions.
The Russell 2000 showed the most strength after closing on the session high of 2,236 (+1.8%). Near-term and lower resistance at 2,225-2,250 was recovered. A move above the latter and the 50-day moving average would suggest a retest towards 2,275-2,300. Below is a chart of the IWM.
The Dow finished at 35,064 (+0.8%) after tapping a late day peak of 35,067. Key resistance at 35,000 was cleared and held. A close above 35,200 and the recent all-time high at 35,192 would indicate a breakout towards 35,250-35,500.
The Nasdaq reached a record peak of 14,896 before ending at 14,895 (+0.8%). Key resistance at 14,850 was breached and held. Continued closes above this level keeps a trip towards 15,000-15,150 in focus.
The S&P 500 settled on the session high of 4,429 (+0.6%) while coming with a fifth of a point of another all-time top. Key resistance at 4,425 was cleared and held. Continued closes above this level would be an ongoing bullish development for additional upside towards 4,450-4,475.
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 ANALYST UPGRADES/DOWNGRADESEtsy (ETSY) upgraded to Equal Weight from Underweight at Morgan Stanley Fastly (FSLY) downgraded to Neutral from Buy at DA Davidson FRIDAY'S EARNINGS ANNOUNCEMENTS After the close: None FRIDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
