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Facebook ( FB ), Amazon ( AMZN ), Netflix ( NFLX ) and Google owner Alphabet ( GOOGL ) are some of the hottest names in the stock market right now, but they are not all performing too hot at this time. Only one of the “FANG” stocks has achieved a significant gain so far this year, and that’s Facebook. The social networking giant has seen three straight quarters of faster bottom line growth as it continues to capture more ad sales and grab more active users. Reasons To ‘Like’ Facebook Facebook has risen 14% so far this year, through Monday’s close. The stock is now looking to close above the 120 price level for the first time ever as it climbs 0.5% to 119.80 intraday. Shares are still trading in buy range after gapping up on the latest quarterly report. Amazon Extended From Breakout Though Amazon has only gained less than 1% for the year through Monday, it’s on a hot streak. Shares presented a buying opportunity ahead of the e-commerce giant’s most recent quarterly earnings and the stock is now extended 16% from the pivot as it hits a new all-time high Tuesday with a 2.7% intraday gain. Amazon announced Tuesday that it’s launching Amazon Video Direct, a rival to Alphabet’s YouTube. Can Netflix Regain Composure? Netflix is down 21% for the year amid steep costs to fuel its international expansion. Netflix also issued weak guidance for subscriber additions in the second quarter. Shares gapped down after the report, and are now trading below their 50-day and 200-day moving averages. Netflix is 31% below its all-time high reached in early December, but is up more than 1% Tuesday as the overall market rallies. Alphabet Sees Upward Momentum Alphabet is down 6% for the year through Monday, but the stock is seeing upward momentum as it looks to notch its fifth consecutive gain. On Friday, shares were able to retake the 200-day line. The stock is now nearing its 50-day line, which it dropped below after issuing its quarterly report. Alphabet is 9% below its all-time high reached in February, but up 1% Tuesday. Meanwhile, the Nasdaq has fallen a little over 5% in the same time period while the S&P 500 has risen less than 1%. And Apple ( AAPL ), still the biggest company by market cap, is down 11% for the year. Late last month, Apple missed quarterly estimates and logged its first ever decline in iPhone sales. Apple edged higher Tuesday but is near a 2-year low. Scalper1 News
Scalper1 News