US EQUITIES
DOWNSIDE
ALERTS (login for Real Time)
(-) CSIQ (-3.7%)
misses earnings estimates, guides below Street.
Trading Analysis-
Stock is recently climbing off a
pre-market low of 3.20, posting decent upside support between 3.30 and 3.50.
Any dips back near the low of 3.20 to 3.30 may present potential floor support
for longs to watch.
(-) ADSK (-19%)
beats earnings expectations but guidance disappoints.
Trading Analysis-
Stock is up from its pre-market
low of 13.26, and it was holding steady at 13.59 before dropping back near
13.40. Volume was moderate at the levels near 13.60, but as negative liquidity
has picked up it looks as if that 13.60 level may be the first day’s ceiling
that held against a consistent upside test. Buyers are testing this top as the opening
bell approaches.
Historical Insight-
We noted ahead of ADSK’s report
last night the stock is a mixed performer after earnings releases. It has
followed through with more aggressive, same-direction next-day regular session
trade after its earnings-driven after-hours trade following an earnings event
in 10 of the last 19 quarters. That holds true for the near-term; over the past
year, the stock has once matched its evening performance the following day,
followed through with more aggressive trade twice, and reversed twice.
UPSIDE
ALERTS (login for Real Time)
(+) C (+8.5%) reportedly
considering sale of entire company or unit sales.
Trading Analysis-
The stock has held gains
throughout the pre-market session, but it has moved steadily lower throughout
the early-going, dropping from a starting high of 5.78 to recent lows at 4.97.
Buyers have been active off the low, but thus far their efforts aren’t getting
them much lift beyond the 5.15 to 5.20 area.
(+) DELL (+6%)
tops Q3 earnings expectations.
Trading Analysis-
Stock is lately dropping back
from a pre-market high of 10.48, slipping to about the 10.35 to 10.40 mark.
Buyers have demonstrated the most significant upside muscle this morning at the
low of 10.25 to 10.30 – the same supporting floor developed in Thursday’s
after-hours session.
Historical Insight-
In looking back at DELL's
historical session-to-session performance, we've found the stock has outpaced
its after-hours moves in next-day regular session trade following 10 of its
last 19 earnings events. In the near-term, the stock favors a strong next-day,
same-direction follow-through, adding to its evening performance in the
following regular session in three of the last four quarters.
(+) MSFT (+2.5%)
Oppenheimer upgrades to Outperform from Perform.
Trading Analysis-
Stock is only recently lifting
off a narrow upside range of 17.90 to 18.03 it held through much of the
pre-market. It is firming to the 18.10
level, where sellers are putting up some stiff resistance. If the 17.90 to 18
area steadies as a floor off any opening bell pressure here then longs may have
an opportunity to take advantage of potential bounces off this level.
(+) CRM (+11.5%)
results better-than-expected and guidance in line with estimates.
Trading Analysis-
Stock is lately maintaining a
strong upside range of 25.39 to its pre-market high of 25.99. Upside momentum
has been vigorous between 25.40 and 25.50, levels to watch for possible bounces
into the higher 25s if this morning’s pattern repeats out of the gate.
Historical Insight-
CRM just favors a reversal trend
between the bells following its after-hours earnings reports, narrowing or
reversing eight times and widening seven times in next-day trade following its
last 15 extended-hours earnings reports. The near-term trend features two
reversals and two widening move.
ETF RECAP
Active-volume exchange-traded funds in Thursday's regular session:
SPDR S&P 500 (SPY): -7.4%
PowerShares QQQ (QQQQ): -4.8%
Select Financial Sector SPDRS (XLF): -10.7%
Ultra Financials ProShares (UYG): -19.2%
IShares Russell 2000 (IWM): -6.7%
iShares MSCI EAFE (EFA): -5.5%
SPDR Gold (GLD): +1.6%
iShares MSCI Emerging Markets Index (EEM): -7.2%
United States Oil Fund (USO): -8.6%
Active-volume extended-hours movers:
SPY, +2.2%
QQQQ, +1.8%
UYG, +7.8%
SSO, +4.2%
IWM, +2.9%
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