Tag Archives: amzn

4 Stocks Trading Near Or In Buy Range Before Earnings Thursday

Alphabet ( GOOGL ), Microsoft ( MSFT ) and Starbucks ( SBUX ) were all near buy points ahead of their most recent quarterly reports, but have since dropped from those levels after issuing weak results. On the other hand, Facebook ( FB ) and Amazon ( AMZN ) had formed bases and were propelled higher by their strong earnings. Here’s a look at four stocks that are trading near or in buy range ahead of their quarterly reports on Thursday: Applied Materials ( AMAT ), Autodesk ( ADSK ), Eight By Eight ( EGHT ) and Campbell Soup ( CPB ). Campbell Soup You may not think of Campbell Soup when you think of top stocks, but the maker of packaged food has a high IBD Composite Rating of 92 out of 99. The company is expected to report an earnings increase of 3%, a big slowdown from two quarters in a row of roughly 30% bottom-line growth. Revenue is expected to fall a fraction. Campbell breached support at the 50-day line Wednesday in above-average volume but was able to finish the session just above the line. Shares are now about 5% below their all-time high reached as the stock cleared a flat base buy point of 65.58. The stock is trading 3% below that pivot. Eight By Eight Eight By Eight is a telecom services firm with an 85 Composite Rating. Earnings are expected to drop 60% while revenue climbs 25%. Shares tried to break out of a cup-with-handle base with a 12.05 buy point Wednesday, but closed the session below that level. The stock is 13% below its January peak. Applied Materials Applied Materials is expected to see earnings grow 10% on a fractional sales decline. The chip equipment maker has a Composite Rating of 66. Shares are trading in buy range from a cup base the stock initially cleared in March. The stock ran up as much as 11% in the following weeks, but has since pulled back about 8% from its high reached one month ago. Autodesk And computer software firm Autodesk is expected to swing to a loss of 14 cents a share on a 21% decline in revenue. The company has a 49 Composite Rating. Shares recently breached support at the 50-day line and are dipping back below buy range from a cup-with-handle base. The stock is now about 12% below its December peak.

Here’s Why Apple Should Be More Like Netflix

Loading the player… Amid slowing iPhone sales, Apple ( AAPL ) should take a page from Netflix’s ( NFLX ) playbook and go with the subscription model, according to a Bernstein report out Wednesday. With the cost of owning and using an iPhone averaging at about $3 a day, Bernstein says Apple could offer its products to customers as a bundled monthly service instead of single purchases of more than $700 every few years. The analyst believes customers could get more services from an Apple subscription bundle at a cheaper cost than their Internet and cable bills. Apple shares closed up 1.2% in above-average volume after testing support at the 10-day line in Tuesday’s session. The stock still has a lot of recovering to do after crumbling to its lowest level in nearly two years just last week, in the wake of the company’s disappointing quarterly earnings report. Apple is 28% below its all-time high reached in April 2015. Meanwhile, Netflix is looking to retake its 10-day line, an area the stock has struggled to stay above in the aftermath of its disappointing Q2 subscriber addition guidance about a month ago. Shares are trading 32% below their all-time high reached last December, but finished 2.1% higher Wednesday. Another big tech company benefiting from the subscription model is Amazon ( AMZN ). The e-commerce giant’s Amazon Prime service costs $99 dollars a year and is growing in popularity. Amazon also recently rolled out a monthly Prime membership for $10.99 a month and a video-only subscription for $8.99 a month. Amazon is looking for support at its 10-day line. The stock tried to climb back above the 700 price level in intraday trade but reversed lower by the afternoon, then ended up 0.3% at 697.45. Shares are 3% below their all-time high reached last week and extended 16% past a cup-with-handle buy point it initially cleared just a few weeks before the company’s latest quarterly report.

Salesforce.com Q1 Beats, Hikes Revenue Outlook, Stock Rises

Salesforce.com ( CRM )  late Wednesday reported Q1 earnings and revenue that topped expectations and raised its full-year revenue guidance, sending the business software provider’s stock up 6% in after-hours trading. Salesforce, the leading provider of customer relationship software, said Q1 profit jumped 50% to 24 cents per share minus items. Revenue in the three months ended April 30 rose 27% to $1.92 billion, the company said.  Analysts polled by Thomson Reuters had modeled 23 cents and $1.89 billion. In the current quarter, Saleforce forecast earnings ex items of 24 cents to 25 cents per share, up from 19 cents in the year-ago quarter, and revenue of $2.005 billion to $2.015 billion, up 23%. Analysts had estimated 25 cents and $1.98 billion. Salesforce increased its full-year revenue guidance to $8.2 billion from $8.16 billion, “given the strong response to our Customer Success Platform,” Salesforce CEO Marc Benioff said in the earnings release. San Francisco-based Salesforce  garners mainly subscription revenue from on-demand software delivered via the Internet, or cloud. “Salesforce’s  increased penetration of very large organizations and vertical-focused strategy, led by President and COO Keith Block, may mark the beginning of a trend of consistency in enterprise sales execution,” Jefferies analyst John DiFucci said in a pre-earnings research report. Salesforce has a strong IBD Composite Rating of 95, putting it among the top 5% of all stocks on key metrics such as sales and earnings growth. Its Computer Software-Enterprise group, though, ranks just No. 138 out of 197 industry groups tracked by IBD. Salesforce competes with Microsoft ( MSFT ), SAP ( SAP ), Oracle ( ORCL ), ServiceNow ( NOW ) and others. Salesforce last week said it would offer a new “Internet of Things” service using AWS, the cloud computing business of  Amazon.com ( AMZN ). Salesforce’s service, expected to launch this fall, collects data from Web-connected devices. AWS is the No. 1 cloud services provider.