On Tuesday in Groupon, Tesla and Priceline Headline Earnings Previews I covered 11 companies that reported quarterly results afterhours Wednesday, on Thursday, and one that reports this morning. Today's scorecard covers the six stocks that reported results in the afterhours on Wednesday and premarket on Thursday. On Monday, I will provide the scorecard for the five that reported in the afterhours Thursday and in the premarket on Friday.
Fundamentally the ValuEngine valuation warning continues with 75.8% of all stocks overvalued with 43% overvalued by 20% or more. 15 of 16 sectors are overvalued, 14 by double-digit percentages including seven overvalued by more than 20%.
Scorecard from stocks that reported earnings results Wednesday afterhours and Thursday premarket:
Eagle Materials ($67.92) missed EPS estimates by 2 cents earning 60 cents a share. The stock opened a tad lower on Thursday but rebounded to a test of its 50-day simple moving average at $68.72 after the day's low was above its 200-day at $64.39. The hold rated cement manufacturer has a quarterly value level at $65.09 and a monthly risky level at $79.43.
Foster Wheeler ($24.09) beat estimates by 21 cents earning 54 cents a share. The stock closed Wednesday at $21.75 and popped above its 50-day and 200-day SMAs at $22.44 and $22.90 at Thursday's open. Thursday's high was $24.95. The construction and engineering company has been downgraded to sell from hold this morning, and has a monthly pivot at $23.33 and semiannual risky level at $25.04.
Groupon ($10.60) beat estimates by 2 cents reporting a loss of just a penny a share. The stock closed Wednesday at $8.72 and opened with a moon-shot to $11.22 on Thursday. As a recent IPO I only have enough data to provide weekly and monthly levels from my proprietary analytics. The hold rated discount online shopping website has a monthly pivot at $9.43.
Lamar Advertising ($44.00) beat estimates by a penny earning 22 cents a share. The stock closed Wednesday at $44.03 just above its 50-day and 200-day SMAs converged at $43.97 and 43.82. Lamar opened Thursday at $44.75 was followed by a day's low at $42.73. The hold rated outdoor advertising company has an annual value level at $40.93 with a quarterly pivot at $43.01 and semiannual risky level at $48.85.
Transocean ($48.58) matched estimates earning $1.08 a share. The stock closed Wednesday at $48.48 and traded between $47.67 and $49.30 on Thursday. The hold rated provider of offshore drilling services has a weekly value level is $46.46 with a monthly risky level at $53.71.
Tesla Motors ($153.48) beat estimates by 10 cents narrowing their loss to 26 cents a share. The stock closed Wednesday at $134.23 and Thursday's moon-shot was to an all time high at $158.88. Tesla is a bubble stock with a sell rating so we don't know how high is too high. The maker of luxury electric vehicles joined the ranks of publicly traded companies in July 2010, so there is not enough price history to have semiannual or annual value levels or risky levels.
Stocks taken to the woodshed:
Elizabeth Arden ($33.56) missed estimates by 22 cents earning 10 cents a share. The stock closed at $40.29 on Wednesday and gapped lower on Thursday to a day's low at $30.37 on its trip to the investor woodshed. The retailer of prestige beauty products has a buy rating with annual value levels at $28.83 and $27.92. Failure to hold my semiannual pivot at $44.19 provided an early warning on July 26.
Silicon Graphics ($15.05) beat estimates by 5 cents in afterhours trading on Wednesday. The company missed on the revenue line causing the stock to plunge to the investor woodshed on Thursday. Wednesday's close was $19.90 and Thursday's low was $14.91. The provider of clustered computing services had a sell rating making the stock extremely vulnerable on bad news. This morning the stock has been upgraded to hold. My annual value level is $8.06 with semiannual pivots at $16.61 and $18.48. On Tuesday the stock traded to a new multi-year high at $20.97 vs. this month's risky level at $21.12.
At the time of publication the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.