|Bid||136.32 x 2200|
|Ask||136.50 x 1800|
|Day's Range||136.47 - 140.65|
|52 Week Range||93.96 - 140.67|
|Beta (3Y Monthly)||1.02|
|PE Ratio (TTM)||27.00|
|Earnings Date||Jul 17, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||1.84 (1.35%)|
|1y Target Est||147.81|
Microsoft Corp. blew away earnings expectations Thursday thanks to continuing strong growth from its Azure cloud offering and LinkedIn, sending its trillion-dollar valuation even higher in late trading.
Microsoft Corp. just demonstrated why it is the most valuable company in tech, surpassing expectations in all its businesses except for gaming.
Four Republican members of the House Armed Services Committee asked President Donald Trump in a letter Thursday not to delay a $10 billion Pentagon cloud contract after he threatened to look into the matter.
DEEP DIVE Here are must-read articles from MarketWatch from the past week that will make you smarter. 1. Netflix loses some of its flock Shares of Netflix (NFLX) sank 10% on Thursday on disappointing subscriber data.
Under Satya Nadella and CFO Amy Hood, Microsoft has managed to grow bigger than all of its mega-cap tech rivals without the slightest whiff of scandal.
Microsoft Chief Scientist of Experiences and Devices Jaime Teevan said that it used to take five years or more for Microsoft’s research to be launched into its products.
Microsoft's strong Q2 earnings, propelled by its cloud segment, is a very positive signal to the rest of the cloud space. It illustrates that demand for cloud technology is still strong.
(Bloomberg) -- Netflix Inc.’s biggest earnings surprise in years sent the shares plummeting the day after results were released, leaving analysts and investors wondering why they were caught so off guard.When some companies know that their quarterly results are going to fall short of forecasts, they put out a pre-announcement or update their guidance. But not Netflix.Instead, the company dropped a bombshell with no warning: Its customer growth was roughly half what it projected, and Netflix actually lost U.S. subscribers during the period. That hasn’t happened since 2011, when the company made a disastrous attempt to split up its streaming and DVD-by-mail operations.The fallout on Thursday included the worst stock rout in three years, with the stock declining 10% to erase more than $16 billion in market value. Shares in Netflix extended those declines on Friday, falling 3.1% to $315.10 per share, their lowest since January. The stock has fallen for seven consecutive sessions, the longest losing streak in nearly four years.“You would think Netflix would want to update guidance or give a pre-annoucement, as I’m sure they definitely knew about this for a while,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “But they probably didn’t want to do it because they were going to take a hit at that time or during earnings -- especially since subscriber numbers are the No. 1 thing analysts look at -- and in earnings you can spin it better than a stand-alone announcement.”Not Necessary?Another reason not to issue a warning: The company met most of Wall Street’s financial estimates, such as sales and profit. It was only the subscriber numbers that really came up short.“Revenue was very close to guidance and profits were actually above, so I’d guess they didn’t think it was necessary to pre-announce a weak sub number when other financial metrics were fine,” said Andy Hargreaves, an analyst at KeyBanc Capital Markets Inc.There’s also been a broader shift away from giving earnings warnings, said Huber Research Partners founder Craig Huber.“I have noticed companies in media and internet that I follow do not seem to pre-announce pending negative results with the same regularity as years ago,” he said.Netflix, based in Los Gatos, California, didn’t have an immediate comment.The streaming giant’s tight-lipped culture extends beyond earnings. Unlike traditional media companies, it’s very selective about the viewer information it provides. Third parties try to fill the gaps by providing their own data on Netflix’s audience, but that can prove to be unreliable.Third-Party ServicesThose kinds of data services failed to predict the latest shortfall, Wolfe Research analyst Marci Ryvicker said in a note.“For several days,” she said, “investors told us ‘such-and-such data service suggests domestic adds will come in line; while international might be somewhat soft.’ Wrong. I mean -- right in the sense that international was soft but totally wrong on the domestic subs part.”Netflix remains the dominant paid video streaming service, with its sights set on international expansion to counter slowing growth at home. But rising competition abroad -- such as a U.K. streaming venture announced Friday between ITV Plc and the BBC -- could challenge that growth as well.Netflix also delivers its earnings in an idiosyncratic way. Instead of doing a traditional Q&A conference call, the company releases an “earnings interview” on YouTube with a single analyst. It also issues its reports on its website, not through the paid services that many companies use to disseminate information.Though this week’s stock rout was especially severe, it’s common for Netflix’s earnings to spark a huge share move. The average change on the day after quarterly reports is almost 13%, according to data compiled by Bloomberg. Compare that with Apple Inc., where it’s 4.4%. Or Microsoft Corp., where it’s 4.1%.There’s another explanation for the huge swings in Netflix’s stock: overreaction. That was the message from Chief Executive Officer Reed Hastings this week. It’s easy to “overinterpret” subscriber figures, he said.“Sometimes we are forecast high, sometimes we forecast low,” he said. “We’re just executing forward and trying to do the best forecast we can.”(Closes shares in fourth paragraph.)\--With assistance from Morwenna Coniam.To contact the reporters on this story: Kamaron Leach in New York at firstname.lastname@example.org;Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Major stock indexes posted gains early, but gains faded after Iran reportedly seized a British oil tanker and its 23-member crew in the Gulf.
After several straight sessions of declines, it looked like we would get a bounce in the Nasdaq today. However, late in the session stocks began to sink due to escalating tensions in the Persian Gulf. It's got investors selling into the weekend and putting their worries on hold.Source: Shutterstock Where does that leave the Nasdaq now? Trading the Nasdaq TodayThe Nasdaq looked like it was bouncing hard on a near-test of the 20-day moving average from Thursday. The morning price action in the PowerShares QQQ ETF (NASDAQ:QQQ) -- which closely follows the Nasdaq's action -- looked like it might run back up to new highs. After all, Friday's high of $193.83 wasn't all that far from its all-time high of $194.19.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Click to EnlargeWith Friday's reversal though, it leaves the QQQ with a possible break below channel support (blue line). However, it's still holding up over prior range resistance near $191. While the action is discouraging, investors don't have much to fret so long as the QQQ is north of $191 and the 20-day moving average. Below these levels opens up the door to further declines, and obviously earnings will play a large role. * 10 Tech Stocks That Are Still Worth Your Time (And Money) We heard from Netflix (NASDAQ:NFLX) on Wednesday and from Microsoft (NASDAQ:MSFT) on Thursday. But next week will be busy.Investors will hear from Facebook (NASDAQ:FB), Tesla (NASDAQ:TSLA), PayPal (NASDAQ:PYPL), Amazon (NASDAQ:AMZN) Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Comcast (NASDAQ:CMCSA), Starbucks (NASDAQ:SBUX) and Charter (NASDAQ:CHTR), among others next week. Microsoft Leads EarningsMicrosoft (NASDAQ:MSFT) reported a top- and bottom-line beat, but the stock couldn't muster much in the way of gains. The stock jumped over $4 per share and hit new 52-week highs, but it couldn't maintain the gains.Shares closed higher by just 0.18%, but investors have to be somewhat disappointed. Earnings blew past expectations and revenue of $33.7 billion came in more than $900 million ahead of consensus expectations. First-quarter guidance and management's full-year outlook both came in ahead of estimates too. It was a strong report, despite the tepid price action.Some investors are fretting over the slowing growth rate in Azure, but make no mistake, MSFT stock remains a powerful entity. The stock is still in an uptrend and commands the market's highest valuation, maintaining north of $1 trillion. Other Earnings From FridayChewy (NYSE:CHWY) doesn't trade on the Nasdaq, but many consider it a tech play because it's an e-commerce company. The stock looked like it was going to push higher and potentially breakout over downtrend resistance, but sellers knocked it back down. Now it's flirting with a potential breakdown below its post-IPO gains.Here's the how-to-trade setup of the chart, along with Crowdstrike (NASDAQ:CRWD).CRWD also reported earnings, but shares soared to new post-IPO highs on the move. The rally is quite attractive, given that it was putting together a beautiful wedge pattern. The company delivered a top- and bottom-line earnings beat and guided for better-than-expected earnings and revenue results next quarter. Around the Water CoolerMicron (NASDAQ:MU) always draws a lot of eyes, but it's drawing extra attention on Friday. Shares climbed 1.9% on the day and closed at $45.52. The stock is pushing through a significant level between $44 and $45, a level the Top Stock Trades column flagged earlier this week.After surging to new all-time highs earlier this week, Roku (NASDAQ:ROKU) stock was under selling pressure on Friday, falling 1.99% to $106.85. That's despite news of Roku's plans to expand first to Brazil and other global markets.The company has been putting up robust growth numbers all across the board. Whether that's streaming hours, revenue, platform growth, etc. It's helped fuel the stock's massive run from sub-$30 in late December to more than $100 currently. 90% of its revenue comes from the U.S. and unlike other streaming plays, Roku does not have to dump hundreds of millions or even billions of dollars into developing its own content. * 5 Top Stock Trades for Monday: BA, CHWY, SKX Instead it's viewed as the operating system for streaming entertainment, providing a low-cost solution for millions of customers to access dozens of streaming options. This could be a big opportunity for the company if Roku executes well.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AMZN, GOOGL, ROKU and SBUX.The post Nasdaq Today: Can Big Tech Earnings Lead to Record Gains?Â appeared first on InvestorPlace.
U.S. stocks closed lower Friday following a report that Federal Reserve officials would only cut interest rates by a quarter percentage point in late July, and after Iran said it seized a British-flagged oil tanker in the Strait of Hormuz.
Stocks traded lower Friday amid more geopolitical tensions with Iran. Oil prices jumped after Iran's Revolutionary Guard Corps captured a British oil tanker in the Strait of Hormuz, a major thoroughfare for global oil shipments.Source: Shutterstock Geopolitical tensions, however fleeting, often prompt traders to move into safer assets, such as the dollar or U.S. government bonds, pressuring riskier assets, like stocks, along the way.To close the week, the Nasdaq Composite fell 0.74% while the S&P 500 lost 0.62%. The Dow Jones Industrial Average declined by 0.25% with fewer than a third of its 30 members trading higher on Friday.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn more encouraging geopolitical news, President Donald Trump said U.S. Treasury Secretary Steve Mnuchin had a positive conversation with his Chinese counterpart. * 10 Tech Stocks That Are Still Worth Your Time (And Money) "U.S. and Chinese officials spoke by phone on Thursday as the world's two largest economies seek to end a yearlong trade war, with Mnuchin suggesting in-person talks could follow," according to Reuters. Marvelous MicrosoftWe mentioned here yesterday that Microsoft (NASDAQ:MSFT) had the potential to be a big mover today following its Thursday earnings report. While the stock rose just 0.15% today, the report was spectacular. Microsoft said it earned $1.37 a share on revenue of $33.72 billion. Analysts were expecting earnings per share of $1.21 on revenue of $32.77 billion.A slew of positive analyst chatter on Microsoft ensued due in large part to the company's encouraging commentary on Azure, its cloud computing business. If Azure can steal some market share from Amazon Web Services (AWS), Microsoft can add to its $1 trillion-plus market value. Boeing: When Bad News Is Good NewsBoeing (NYSE:BA), the largest component in the Dow, surged 4.48% after the company said it's going to take a $5 billion after-tax charge to compensate airline customers related to the grounding of the 737 MAX jet."For purposes of the second-quarter financial results, the company has assumed that regulatory approval of 737 MAX return to service in the U.S. and other jurisdictions begins early in the fourth quarter 2019," according to a Boeing statement.Doling out $5 billion for a situation that could have been avoided would appear to be bad news, but Boeing's Friday price action suggests investors like the effort by the company to start putting this situation in the rear view mirror. When Rewards Aren't RewardingAmerican Express (NYSE:AXP) slid 2.79%, good for one of its worst intraday performances this year. The problem wasn't earnings. It was rising expenses tied to cardholder rewards. Those expenses checked in at $2.65 billion for the second quarter, above the Wall Street estimate of $2.64 billion. There is, however, some good news."American Express revenue may rise 7-8% long term, our scenario analysis shows, driven by high-spending U.S. consumers and the ability to use its position as the dominant business-card issuer to boost B2B payments," according to Bloomberg Intelligence. Bottom Line: All About Earnings Next Week While chatter about Fed rate cuts and geopolitical events will remain in the picture, next week brings a tidal wave of earnings reports. Let's get into some of those numbers by pointing out that about 32% of the S&P 500 reports earnings the week starting July 22.At the sector level, that works out to be over 16% of technology companies, more than 30% of healthcare firms and over 22% of the financial services sector reporting next week. Those three sectors are the largest sectors to weight in the S&P 500.We'd be remiss if we did not point out that more than 60% of the communication services sector, half the industrial sector and more than 47% of the consumer discretionary group are delivering results for the week commencing July 22. In other words, we should be treated to plenty of action next week.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post Dow Jones Today: Oil Slicks Trip up Stocks appeared first on InvestorPlace.
Microsoft stock surged Friday after the software giant's June-quarter earnings report showed more progress in advancing its cloud computing business. It rose to a new all-time high.
The stock market pulled back for the week amid heavy earnings. Netflix dived, Microsoft rose, Facebook Libra faced critics. Some top stocks broke out.
Wall Street's main indexes edged lower on Friday after a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of July. The benchmark S&P 500 erased earlier marginal gains after the Wall Street Journal report https://www.wsj.com/articles/fed-officials-signal-quarter-point-rate-cut-likely-at-july-meeting-11563559491.
U.S. stock futures are trading higher this morning in a continuation of yesterday's rally. After a two-day slide, the recent rebound is reassuring traders that bulls are still in control of the overall trend.Source: Shutterstock As we head into the first minutes after the bell, the Dow Jones Industrial Average is up 0.36%, and S&P 500 is higher by 0.36%, while the Nasdaq-100 has added 0.45%.Yesterday's action in the options pits saw a surge in overall trading volumes. Calls ran hot throughout the session, eclipsing the 20 million mark for the first time in a while. By the closing bell, about 21 million calls and 17.4 million puts changed hands.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe call surge was enough to knock the CBOE single-session equity put/call volume ratio back down from the one-month high tagged on Wednesday. The metric closed at 0.60, landing it right on top of the 10-day moving average. * 10 Tech Stocks That Are Still Worth Your Time (And Money) On Thursday, options traders zeroed in on earnings announcements and gold stocks. International Business Machines Corp. (NYSE:IBM) and Microsoft Corporation (NASDAQ:MSFT) saw heavy traffic surrounding their quarterly reports. Elsewhere, Barrick Gold (NYSE:GOLD) shares were bid to the moon amid the ongoing gold rush.Let's take a closer look: IBM (IBM)IBM reported earnings Wednesday night, and the Street cheered the results, gifting its share price with a 4.6% gain. The rally pushed IBM stock to a fresh nine-month high and placed it on firm footing to make a run toward $160. Ahead of the report, the tech titan had already made progress on its price trend. With it now trending above all major moving averages, the path of least resistance is higher.Digging into the numbers reveals a slight decrease in revenue compared to the year-ago quarter. IBM was able to clinch a 3% rise in adjusted earnings, however. Adjusted earnings was $3.17 per share on revenue of $19.16 billion. According to FactSet, analysts were calling for earnings of $3.08 on $19.17 billion in revenue.On the options trading front, traders gobbled up calls throughout the day. Total activity ballooned to 685% of the average daily volume, with 173,767 contracts traded. 65% of the trading came from call options alone.With the uncertainty of earnings in the rearview mirror, implied volatility sunk back to more normal levels. At 24%, the reading now sits at the 45th percentile of its one-year range. Premiums are baking in daily moves of $2.27 or 1.5%. Microsoft (MSFT)Microsoft is one of this year's biggest winners among the large-cap tech space, and the gains are set to continue after last night's robust report.For the fiscal fourth quarter, MSFT raked in earnings of $1.37 per share on revenue of $33.72 billion. The Street was calling for $1.21 per share on $32.77 billion, so consider this a strong beat on both fronts.MSFT stock is poised to open up around 3% this morning, pushing the company well north of the $1 trillion market cap. Its year-to-date gains have now climbed to 38%.On the options trading front, traders favored calls ahead of the number. Activity swelled to 315% of the average daily volume, with 500,809 total contracts traded. Calls claimed 55% of the session's sum.The expected move heading into earnings was $3.95, so this morning's gap is right in line with forecasts. Three cheers for market efficiency! Barrick Gold (GOLD)Gold and silver prices are going bananas. They are this summer's must-have asset, and gold mining stocks are riding the coattails of the popularity. Yesterday's breakout in Barrick Gold sent the miner to a new 52-week high amid heavy volume.And speaking of volume, the past six weeks' ascension has seen accumulation days galore signaling a mass influx of institutions into the space. The gains have been sufficient to pull the 200-day moving average higher, which is saying something because it's been stuck in the mud for over a year.On the options trading front, traders came after calls with a vengeance. Activity ramped to 282% of the average daily volume, with 109,783 total contracts traded. Calls contributed 83% to the day's take.The increased demand drove implied volatility higher to 37% or the 48th percentile of its one-year range. Premiums are pricing in daily moves of 40 cents or 2.3%As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post Friday's Vital Data: IBM, Microsoft and Barrick Gold appeared first on InvestorPlace.
A gauge of global stocks climbed on Friday as investors looked for a strongly dovish U.S. Federal Reserve at its next meeting and as early returns on earnings season have come in better than anticipated. On Wall Street, a gain of 1.06% in Microsoft helped lift the Dow and kept the S&P 500 and Nasdaq slightly afloat as quarterly results topped expectations, powered by its cloud business. Stocks received some modest follow-through to the plus side following Thursday's late rally after two influential Federal Reserve officials - New York Fed President John Williams and Fed Board of Governors Vice Chair Richard Clarida - laid out the case for quick action by the central bank to support the U.S. economy.
As the trading week winds down, US stocks are steady in afternoon trade Friday as Microsoft's strong earnings remain in focus. However, Bitcoin is seeing some weakness while gold continues to shine.
Stocks are off to a positive start courtesy of Microsoft's strong earnings report. In addition, both Bitcoin and gold are on the upside.