STTG Market Recap Feb 11, 2015 – Stock Trading To Go
VIDEO UPDATE: Market analysis + CANSLIM stock picks.
A very quiet morning led to some volatility in the afternoon but in the end it was a quiet close on the indexes as the S&P 500 was fractionally lower while the NASDAQ added 0.28%. Most of the attention was on Greece again but most expect a can kicked down the road… as usual.
Greek Finance Minister Yanis Varoufakis met with euro zone finance ministers on Wednesday after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout. The meeting included discussion of what could constitute a “bridge agreement” for Greece once its bailout expires on Feb. 28, a Greek government official told Reuters.
Here are longer term charts for the indexes. The NASDAQ continues up, helped by Apple. The S&P 500 is now right at our upper trendline and needs to get over.
Apple continues in beast mode…
Most of the interesting action today was in after hours with a lot of well followed names:
First Tesla Motors which missed estimates and car deliveries:
Tesla Motors Inc. fell in extended trading after the electric-car maker led by Elon Musk missed targets for vehicle deliveries and reported a quarterly loss when analysts had predicted a profit. The fourth-quarter loss, excluding certain items, was 13 cents a share,. Analysts had estimated a profit of 32 cents a share, on average. Tesla delivered a record 9,834 vehicles, missing the average analyst estimate by almost 1,000 and its own goal by 1,345.
The company said that while it met its full-year production target of 35,000 Model S cars, many weren’t finished until late in the year and couldn’t be delivered to customers in 2014 because of holiday vacations and severe winter weather. About 1,400 deliveries slipped into the first quarter.
The stock is down roughly 4% in after hours to the $205 range.
Despite some excellent growth metrics Baidu (BIDU) is being slashed in after hours to the tune of 10%. It’s been a rough few months for this name which has very high expectations. It is now back to October 2014 lows.
Baidu Inc (BIDU), owner of China’s dominant search engine, reported a lower-than-expected 47.5 percent rise in quarterly revenue as more users switched from PCs to mobile devices, which have less space for more lucrative forms of advertising. Baidu, sometimes referred to as China’s Google, reported revenue of 14.05 billion yuan, or $2.26 billion, for the fourth quarter, falling short of the average analyst estimate of 14.12 billion yuan. Mobile revenue represented 42 percent of total revenue, up from 36 percent in the third quarter, Baidu said. “In December, for the first time search revenue from mobile surpassed PC,” Chief Executive Robin Li said in a statement.
The news was better out of Whole Foods Market (WFM) which has had a strong few months so could not disappoint or else the stock would get hammered. Instead it is up 2% in after hours.
Whole Foods Market Inc. reported a nearly 6 percent increase in fiscal first-quarter profits, beating Wall Street estimates and showing growth in a key sales measure. For its latest quarter, it reported that revenue at stores opened at least a year picked up from the previous period, after five straight quarters of slowing sales growth. That sales measure rose 4.5 percent, up from the 3.1 percent in the previous quarter. The metric is a key indicator of a retailer’s health because it excludes results from stores recently opened or closed.
WFM had net income of $167 million, or 46 cents per share, in the quarter ended Jan. 18. That compares with $158 million, or 42 cents per share, in the year-ago period. The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share. The grocery chain posted revenue of $4.67 billion in the period, which fell just short of Street forecasts. Analysts expected $4.68 billion, according to Zacks.
Utilities continue to suffer as traders believe the Fed will raise rates this summer, thus providing some competition for yield products. XLU is the ETF for the group.
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STTG Market Recap Feb 11, 2015 – Stock Trading To Go
