STTG Market Recap Feb 3, 2015 – Stock Trading To Go
VIDEO UPDATE: Market analysis looking at long term charts, movers on the day, and analysis of 50 stocks with setups and buy points.
It was another good day for the indexes and oil as they moved in concert. The S&P 500 gained 1.44% and the NASDAQ 1.09%. Factory orders for December posted a greater-than-expected decline of 3.4%. Analysts expected a decline for the month, especially with Monday’s weaker ISM manufacturing numbers.
These 2 significant up days have helped but still don’t get us out of the woods yet on the indexes. We are however now near the top of these recent ranges but need to see a follow through to the upside that sticks. 2070 for the S&P 500 and 4775 for the NASDAQ look like good areas to signify a new breakout.
Obviously oil continuing to act well would help – we said Friday it may be at least a short term bottom as we finally had a jump over our downtrend line… and we wanted to see follow through early this week – that happened. The 50 day moving average for west crude is just under $56 which is almost reached today at its peak before pulling back sharply.
Here are some individual charts using the informative platform that comes from Marketsmith.
A lot of individual oil names moved nicely the past few days – if you want to make it easier on yourself one way to approach a sector move is a sector ETF. XOP is one we watch closely.
Twitter (TWTR) jumped on a new ad agreement:
Twitter’s stock jumped after the social media company said its promoted tweets will appear on third-party mobile apps and websites under a new advertising distribution program. The syndication program will broaden the reach of Twitter’s ads beyond the 284 million monthly users who access its service every month, Twitter said. Its first partners are newsreader app Flipboard and Yahoo Japan.
The company reports Thursday.
3D printing stock Stratasys (SSYS) was crushed today after reporting that it’s results last quarter will miss expectations, as will results this year, as a consequence of delays in getting product out the door by its consumer division, MakerBot, which Stratasys bought last year.
Netflix (NFLX) has had a nice reversal of late; today it surged as it boosted a debt offering to fund expanded content.
After the close 2 well followed companies reported – Gilead Sciences (GILD) and Chiptole Mexican Grill (CMG). Both were down in after hours; 4.5% and 6.5% respectively.
For Gilead:
Gilead Sciences said it is offering steeper-than-expected discounts on its hepatitis C drugs to health insurers and other group payers who had complained about the price. Gilead executives disclosed the discounts on a conference call after the company said strong sales of the drugs, Harvoni and Sovaldi, helped boost net profit more than four-fold in the latest quarter, beating Wall Street forecasts. The executives said the “gross to net” adjustment for the company’s hepatitis C drug sales will average 46 percent in 2015, up sharply from 22 percent at the end of 2014.
Gilead also said it would start paying a quarterly dividend and devote $15 billion more to a share buyback plan. In late 2013, Gilead prompted howls of protests about prescription drug prices when it launched Sovaldi at a price of $1,000 a pill. But since AbbVie Inc launched a rival hepatitis C treatment late last year, both companies have fought for market share by offering rebates to group payers.
For Chipotle:
Chipotle Mexican Grill’s comparable restaurant sales and revenue jumped but failed to meet Wall Street’s high expectations. The chain is also considering increasing the prices of some of its entrees but wants its prices to remain accessible, its CFO Jack Hartung said on the conference call. Its same store sales decelerated during the fourth quarter and rose 16.1 percent. They had been expected to surge 16.5 percent, according to a Consensus Metrix estimate. Net income rose to $121.2 million, or $3.84 per share, compared to $79.6 million, or $2.53 per diluted share.
Link –
STTG Market Recap Feb 3, 2015 – Stock Trading To Go
