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4 Stocks Trading Near Or In Buy Range Before Earnings

Loading the player… 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 later this week: 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 Friday 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% when it reports Thursday. 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, which reports Thursday, 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 when it reports Thursday. 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.

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.

Square Downgraded Despite Guidance Hike, As Lockup Expiration Looms

Shares of mobile-payments firm Square ( SQ ) were tumbling early Friday as the company was downgraded following a mixed Q1 earnings report issued late the previous day. Square lost 29 cents a share in the quarter, or 14 cents excluding a one-time legal cost. Either way, it was worse than the 9-cent loss analysts had expected, according to Thomson Reuters. Revenue beat expectations, though, rising 51% to $379 million. Square lifted its adjusted-revenue guidance for the year (which excludes the soon-to-be-defunct partnership with Starbucks ( SBUX )) by $15 million, now $615 million to $635 million. It also raised its EBITDA (earnings before interest, taxes, depreciation and amortization) guidance by $2 million, now $8 million to $14 million. However, the May 16 expiration of Square’s post-IPO lockup period was looming on analysts’ minds. Wedbush’s Gil Luria downgraded the stock to underperform from neutral, with a 9 price target, predicting that insider shareholders will use this opening as a chance to get out. “We believe that Square is rapidly growing a business that may never reach peer (or guided) profitability, which will become apparent as growth slows over the next couple of years on competition and saturation,” Luria wrote. Square stock was down more than 17% in early trading on the stock market today , below 11 and sitting at a two-month low. The stock went public at 9 last November and peaked at 15.91 on March 31. BTIG analyst Mark Palmer was more confident about Square’s future but was still concerned about the lockup expiration. “Square arguably needed to post a strong Q1 2016 report to convince the soon-to-be unlocked investors to hold on to their shares,” Palmer wrote in a research note affirming his neutral rating. “While the company posted a headline earnings miss, much more important at this stage in its life cycle was a better-than-expected revenue print and increased fiscal 2016 guidance for both revenue and adjusted EBITDA.”