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 The stock market pulled back on Friday following another round of earnings that mostly disappointed Wall Street’s expectations. The losses gave the bears the weekly win but the major indexes closed mostly higher in July, excluding the small-caps.
The Nasdaq fell to an opening low of 14,615 before closing at 14,672 (-0.7%). Current and upper support at 14,650-14,500 was breached but held. A close below the latter would signal risk towards 14,350-14,200 and the 50-day moving average.
 The Russell 2000 settled at 2,219 (-0.6%) with the late day low reaching 2,219. Upper support at 2,225-2,200 was tripped but held. A move below the latter would suggest a retest towards 2,175-2,150. Below is a chart of the IWM.  The S&P 500 tested a low of 4,389 before finishing at 4,395 (-0.5%). Near-term and upper support at 4,400-4,375 failed to hold. A drop below the latter would signal additional weakness towards 4,350-4,325.  The Dow ended at 34,935 (-0.4%) with the low kissing 34,871. Current and upper support at 35,000-34,750 was breached and failed to hold. A close below the latter would likely lead to a fade towards 34,500-34,250 and the 50-day moving average.  Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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 ANALYST UPGRADES/DOWNGRADESAlbany International (AIN) upgraded to Buy from Neutral at Bank of America Agios Pharmaceuticals (AGIO) downgraded to Sell from Neutral at Goldman Sachs   MONDAY'S EARNINGS ANNOUNCEMENTS After the close: Arista Networks (ANET), Bruker (BRKR), Columbia Sportswear Company (COLM), Danaos (DAC), Eastman Chemical Company (EMN), Freshpet (FRPT), Gaia (GAIA), Harmonic (HLIT), Intrepid Potash (IPI), Kennametal (KMT), Leggett & Platt (LEG), Mosaic (MOS), NXP Semiconductors (NXPI), Otter Tail (OTTR), Pioneer Natural Resources (PXD), Rambus (RMBS), Simon Property Group (SPG), Take-Two Interactive Software (TTWO), Ultra Clean Holdings (UCTT), Vornado Realty Trust (VNO), Williams Companies (WMB), ZoomInfo Technologies (ZI) 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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Amazon shares fell more than 7% in extended trading on Thursday after the company reported its first revenue miss in three years and gave weak third-quarter guidance. Here’s how the company did:
Amazon’s revenue grew by 27% year over year to $113.08 billion. That’s a significant slowdown from the second quarter of 2020, when sales skyrocketed 41% year over year. On a call with reporters, Amazon CFO Brian Olsavsky blamed tough year-over-year comparisons to its business during Covid-19 lockdowns. In mid-May of last year, Amazon saw growth rates jump to between 35% to 45%, he said. “We’re starting to lap that and that’s why you see some of the growth rate coming down,” Olsavsky said, adding that Amazon expects to see slower growth continue for the next few quarters. For the third quarter, Amazon said it expects to book sales between $106 billion and $112 billion, representing growth of 10% to 16% compared to the same period last year. That’s well below consensus estimates of $119.2 billion. “Our customers are safe and healthy and ordering from us. And we know that there’ll be more vacations or be more mobility. They’ll be things that probably people shied away from last year and that’s all good,” Olsavsky said on the call with reporters. “But it does tend to lead them to do other things besides shop. So we’re just adjusting our run rates in the, in the period that we see that happening.” Let me show you my Step-by-Step Here are a few recent LIVE Trades:
 Amazon said its operating profit in the third quarter will be in the range of $2.5 billion and $6 billion, a notably wide gap. That’s still a step down from the $6.2 billion of costs it incurred from things like coronavirus safety measures in the third quarter of 2020. Olsavsky said in a call with investors that Amazon is in the midst of a multiyear investment cycle, which includes spending heavily to increase warehouse capacity across the country. Most of Amazon’s 2021 spend and building openings are planned for the second-half of the year, he added. The June quarter reflects the last full quarter of Jeff Bezos’ tenure as CEO. On July 5, Bezos handed the role of CEO over to Andy Jassy, who previously led AWS. Bezos is now executive chairman. Like Bezos, who hasn’t participated in an earnings call since 2009, Jassy was absent from Thursday evening’s conference call. In a statement, Jassy thanked Amazon employees for their work during the coronavirus pandemic, and added, “I am very excited to work with you as we invent and build for the future.” While Amazon’s second-quarter sales disappointed, earnings trounced expectations, helped by its highly profitable cloud-computing, subscriptions and advertising businesses. Amazon’s “other” unit, which includes advertising and other services, grew revenue 87% year over year during the period. Amazon Web Services grew its revenue 37% in the second quarter, faster than 32% growth in the previous quarter. AWS revenue came in at $14.81 billion in the quarter, surpassing analysts’ estimated $14.20 billion. Amazon’s headcount continues to swell. At the end of the third quarter, Amazon employed 1.33 million people worldwide, up 52% year over year. A rise in the Covid-19 delta variant cases has pushed some Silicon Valley companies, including Facebook, Google, Uber and Twitter, to rethink their return-to-office plans and mandate vaccinations for employees or close offices again. Olsavsky told reporters that Amazon hasn’t adjusted its plans to have employees return in September. The company will not require employees to be vaccinated, he said. Source: https://www.cnbc.com/2021/07/29/amazon-amzn-earnings-q2-2021.html Have a nice day and I sure hope this article helps you in your trading.  The post Amazon posts third $100 billion quarter in a row, but still misses expectations appeared first on Trading Concepts, Inc.. |
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The stock market rose on Thursday despite weaker-than-expected economic news and a mixed batch of earnings results. Specifically, gross domestic product grew at a 6.5% annual rate for the second quarter versus expectations for 8.5% growth. Additionally, jobless claims fell 24,000 to 400,000 versus forecasts for a print of 380,000. Despite the misses, the broader market and blue-chips broke out to fresh record highs with the small-caps showing the most strength for the second-straight session. The Russell 2000 tested a high of 2,256 before finishing at 2,240 (+0.7%). Prior and lower resistance at 2,250-2,275 was breached but held. A close above the latter and the 50-day moving average would be an ongoing bullish development with additional upside towards 2,300-2,325. The Dow settled at 35,084 (+0.4%) after tapping a midday and all-time high of 35,171. Key resistance at 35,150 was tripped but held. Continued closes above this level would indicate additional strength towards 35,250-35,500. The S&P 500 tagged a record high of 4,429 while ending at 4,419 (+0.4%). Unchartered territory and lower resistance at 4,425-4,450 was challenged but held. A pop above the latter would suggest additional upside towards 4,450-4,475. The Nasdaq made a run to 14,833 before closing at 14,778 (+0.1%). Key resistance at 14,850 was challenged but held. A close above the latter and Monday’s all-time high at 14,863 keeps upside towards 15,000-15,150 in play. Let me show you my Step-by-Step Here are a few recent LIVE Trades:
ANALYST UPGRADES/DOWNGRADESCirrus Logic (CRUS) upgraded to Buy from Hold at Craig-Hallum FRIDAY'S EARNINGS ANNOUNCEMENTS After the close: Marin Software (MRIN) FRIDAY'S ECONOMIC NEWS  METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
 HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE ROCK LOBSTER, AND UNCLE MIKE BREAK DOWN:
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Volkswagen posted record first-half earnings on Thursday while also raising its target for profit margin. The results are a marked improvement from the same period last year when demand was ravaged at the height of the Covid-19 pandemic. The German automaker saw first-half operating profit before special items hit 11.4 billion euros ($13.5 billion), exceeding pre-pandemic levels on the back of increased demand for premium cars in Europe and the Americas, while electric vehicle deliveries almost tripled. As a result, Volkswagen upped its profit margin target for the second time in three months. The company now expects an operating return on sales of between 6% and 7.5%, having previously projected 5.5% to 7%. “The record result in the first half of the year is clear proof of how strong our brands are and how attractive their products are,” CEO Herbert Diess said in a statement. “The premium segment performed especially well with double-digit returns, as did Financial Services. Our electric offensive is picking up momentum.” Let me show you my Step-by-Step Here are a few recent LIVE Trades:
“Challenges will arise particularly from the economic situation, the increasing intensity of competition, volatile commodity and foreign exchange markets, securing supply chains and more stringent emissions-related requirements,” it said in the earnings report. Like many major automakers, Volkswagen is feeling the pinch from a global shortage of semiconductors. Here are the quarterly highlights:
Half of Volkswagen’s sales are expected to be battery-electric vehicles by 2030, the German carmaker said in a recent strategy update, while almost 100% of its new vehicles in major markets should be zero-emission vehicles by 2040. Those objectives are part of Volkswagen’s wider aim to be fully carbon neutral by 2050, and Volkswagen has earmarked 73 billion euros for the development of future technologies between 2021 and 2025, around 50% of the company’s total investments. Volkswagen stock is up more than 34% year-to-date. Source: https://www.cnbc.com/2021/07/29/volkswagen-earnings-q2-2021.html Have a nice day and I sure hope this article helps you in your trading.  The post Volkswagen posts record first-half earnings and raises profit margin target appeared first on Trading Concepts, Inc.. |
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Wall Street was mixed on Wednesday following a heavy dose of earnings and the Fed’s meeting minutes. The Federal Reserve said the U.S. economic recovery remains on track with Chairman Powell adding the central bank remains a ways away from considering raising interest rates. Powell also stated the job market still has some ground to cover before it would be time to pull back from the Fed’s ongoing support. Volatility eased but remains slightly elevated after failing to hold a key level of support. The Russell 2000 showed the most strength after closing at 2,224 (+1.5%) with the high hitting 2,237. Near-term and lower resistance at 2,225-2,250 was cleared but held by a smidge. A move above the latter and the 50-day moving average would suggest a retest towards 2,275-2,300. The Nasdaq reached a peak of 14,798 before ending at 14,762 (+0.7%). Current and lower resistance at 14,700-14,850 was recovered. A close above the latter and Monday’s all-time high at 14,863 gets a run towards 15,000-15,150 back in focus. The S&P 500 settled at 4,400 (-0.02%) with the afternoon low kissing 4,387. Upper support at 4,400-4,375 was breached but held. A close below the latter would signal a further fade towards 4,350-4,325. The Dow traded down to 34,876 before finishing at 34,930 (-0.4%). Near-term and upper support at 35,000-34,750 failed to hold. A drop below the latter would suggest additional weakness towards 34,500-34,250 and the 50-day moving average. Let me show you my Step-by-Step Here are a few recent LIVE Trades:
ANALYST UPGRADES/DOWNGRADESFive Star (FSBC) upgraded to Outperform from Market Perform at Keefe Bruyette THURSDAY'S EARNINGS ANNOUNCEMENTS After the close: Amazon.com (AMZN), BJ's Restaurants (BJRI), Chemours (CC), Deckers Brands (DECK), First Solar (FSLR), Hub Group (HUBG), KLA Corporation (KLAC), MicroStrategy (MSTR), Opko Health (OPK), Rogers (ROG), Skyworks Solutions (SWKS), T-Mobile (TMUS), U.S. Steel (X), Welltower (WELL), Zendesk (ZEN) 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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Apple reported a blowout quarter on Tuesday, driven by sales of iPhones, which were up 50% annually to $39.57 billion in sales. That followed the March quarter, where iPhone sales were up 65.5% annually, and Apple’s holiday quarter, where sales were up 17% to $65.60 billion. The iPhone is on a hot streak driven by last year’s release of the iPhone 12, which is the first significant iPhone redesign since 2017. Current iPhone consumers are upgrading to the first iPhone with 5G, and many people are switching from an Android phone, Apple CEO Tim Cook said on Tuesday. But Apple now faces an issue that has ensnared everyone from game console makers to automotive companies to Microsoft’s PC business: An industry-wide shortage of chips and other components. On Tuesday, Apple CEO Tim Cook warned silicon “supply constraints” will affect sales the iPhone as well as the iPad. Cook said that the shortages aren’t in the high-powered processors that Apple has manufactured for its devices, but in what’s called “legacy nodes,” or chips that do everyday functions like driving displays or decoding audio, and can be manufactured using older equipment. Let me show you my Step-by-Step Here are a few recent LIVE Trades:
In the case of other component shortages, he attributed it to demand outstripping Apple’s own forecasts. “We do have some shortages in addition to that, that are where the demand has been so great and so beyond our own expectation that it’s difficult to get the entire set of parts within the lead times that we try to get those.” Apple had already warned that supply shortages would affect the company in the quarter ending in June, but those shortages affected iPad and Mac, not Apple’s most important product. Apple had said in April that the supply constraints could be a $3 to $4 billion drag on sales, but Cook said in an interview on Tuesday that Apple was able to navigate and reduce the impact to lower than it expected. “We were actually able to mitigate some of that, and we came in at the lower than the low end part of that range,” Cook told CNBC’s Josh Lipton. On Tuesday, Apple didn’t give an exact range for how component shortages would affect its September quarter, but CFO Luca Maestri said the company expects them “to be greater than what we experienced during the June quarter.” iPhone shortages won’t doom Apple — it still expects slowing, “double-digit” growth over the $64.7 billion it reported in last year’s September quarter. But the admission shows that even Apple -- with its prodigious supply chain, operations-expert CEO, and purchasing power with suppliers, may have trouble getting parts it needs to meet demand amid a global shortage. Apple’s shares sank about 2% after hours following the earnings release, despite the blowout quarter. Source: https://www.cnbc.com/2021/07/27/apples-iphone-hot-streak-will-run-into-global-chip-shortage.html I hope this article has been helpful… have a fantastic day!  The post Apple’s iPhone hot streak is going to run into the global chip shortage appeared first on Trading Concepts, Inc.. |
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The stock market pulled back on Tuesday as traders remained cautious ahead of key earnings reports after the bell and Wednesday’s Federal Reserve announcement. Ongoing weakness in U.S.-listed Chinese stocks also weighed on sentiment as fears over more regulations persisted with volatility clearing but holding a key level of resistance.
The Nasdaq tumbled to a midday low of 14,503 before closing at 14,660 (-1.2%). New and upper support at 14,650-14,500 was tripped but held. A move below the latter would signal risk towards 14,350-14,200 and the 50-day moving average.
The Russell 2000 settled at 2,191 (-1.1%) with the intraday low reaching 2,171. Prior and upper support at 2,175-2,150 was breached but held. A close below the latter would suggest ongoing weakness towards 2,125-2,100. Below is a chart of the IWM.
The S&P 500 tested a low of 4,372 before finishing at 4,401 (-0.5%). Fresh and upper support at 4,375-4,350 was breached but held. A close below the latter would signal additional weakness towards 4,325-4,300.
The Dow ended at 35,058 (-0.2%) with the low kissing 34,878. Current and upper support at 35,000-34,750 was clipped but held. A close below the latter would likely lead to a retest towards 34,500-34,250 and the 50-day moving average.
Let me show you my Step-by-Step Here are a few recent LIVE Trades:
ANALYST UPGRADES/DOWNGRADESAmerican Airlines (AAL) upgraded to Neutral from Negative at Susquehanna AT&T (T) downgraded to Hold from Buy at Argus WEDNESDAY'S EARNINGS ANNOUNCEMENTS After the close: AvalonBay Communities (AVB), Benchmark Electronics (BHE), Cirrus Logic (CRUS), Duke Realty (DRE), Equinix (EQIX), Facebook (FB), Ford Motor (F), Getty Realty (GTY), Hologic (HOLX), Ingersoll-Rand (IR), iRobot (IRBT), JAKKS Pacific (JAKK), Kilroy Realty (KRC), Lam Research (LRCX), MaxLinear (MXL), NuVasive (NUVA), O'Reilly Automotive (ORLY), PayPal (PYPL), Qualcomm (QCOM), Raymond James Financial (RJF), Safe Bulkers (SB), Tetra Tech (TTEK), United Rentals (URI), Vanda Pharmaceuticals (VNDA), Wyndham Hotels & Resorts (WH), Xilinx (XLNX), Yum China Holdings (YUMC) 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 Cassava Sciences (SAVA) this week. The stock could see higher highs, as we near its presentation at the 2021 Alzheimer’s Association International Conference today. The presentations will include “Cassava Sciences’ investigational product candidates include simufilam, a drug treatment for Alzheimer’s disease, and SavaDx, a biomarker/diagnostic to detect Alzheimer’s disease with a simple blood test,” as noted in a company press release. As also noted in a company press release: Today, around 10 am ET, scientists for Cassava Sciences will show a poster presentation at AAIC, titled “SavaDx, a Novel Plasma Biomarker to Detect Alzheimer’s Disease, Confirms Mechanism of Action of Simufilam”.
On Thursday, July 29th, at approximately 11 am ET, simufilam will be featured in a live podium presentation at AAIC, including a brief Q&A session. This oral presentation will announce results of an interim analysis on safety and cognition for the first 50 patients with Alzheimer’s disease to complete 9 months of open-label treatment. Scientists for Cassava Sciences will also present biomarker data analyzed from cerebrospinal fluid (CSF) collected from 25 study subjects at baseline and again after completing 6 months of open-label drug treatment. This is just one of the opportunities we find quite often inside Extreme Option Profits.
 The post Extreme Option Profits Chart of Day… Cassava Sciences (SAVA) appeared first on Trading Concepts, Inc.. |
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The stock market was slightly choppy on Monday after trading in a tight range while setting another round of fresh all-time highs. The hesitancy came as Wall Street prepares for a slew of second-quarter earnings and another update from the Federal Reserve.
Excluding the small-caps, the major indexes extended their winning streak to five-straight sessions despite a slight uptick in volatility. However, the bulls held a key level of resistance to keep volatility in their favor heading into the busy week.
The Russell 2000 ended at 2,216 (+0.6%) after testing an opening high of 2,232. Lower resistance at 2,225-2,250 was cleared but held. A close above the later and the 50-day moving average would likely signal another push towards 2,275-2,300.
The S&P 500 finished at a new record and session high of 4,422 (+0.2%). Unchartered territory and lower resistance at 4,425-4,450 was challenged but held. A pop above the latter would be an ongoing bullish development for additional upside towards 4,450-4,475.
The Dow settled at 35,144 (+0.2%) after tapping a late day and all-time high of 35,150. New resistance at 35,150 was tripped but held. Continued closes above this level would indicate ongoing strength towards 35,250-35,500.
The Nasdaq closed at 14,840 (+0.03) with the fresh lifetime and intraday high reaching 14,863. Key resistance at 14,850 was cleared but held. A close above this level would suggest momentum towards 15,000-15,150.
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ANALYST UPGRADES/DOWNGRADESCasey's General (CASY) upgraded to Outperform from Market Perform at BMO Capital TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: Alphabet (GOOGL), Apple (AAPL), Boston Properties (BXP), C.H. Robinson Worldwide (CHRW), Cheesecake Factory (CAKE), Extra Space Storage (EXR), First Commonwealth Financial (FCF), Hanover Insurance Group (THG), Imax (IMAX), Juniper Networks (JNPR), Mattel (MAT), Microsoft (MSFT), NortonLifeLock (NLOK), Olin (OLN), Paramount Group (PGRE), Renasant (RNST), Starbucks (SBUX), Teradyne (TER), UMB Financial (UMBF), Visa (V), WesBanco (WSBC) TUESDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
