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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.

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.