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12:10pm (EST)
We said this morning the bulls needed to get off to a good start or at least hold current levels as the action today has once again been choppy. The Dow and S&P 500 have had a little success this morning but Tech has been weak which has weighed on the Nasdaq. The small-caps have traded on both sides of the ledger.
Economic news is light today but there will be a bevy of headlines on employment the rest of the week. Fourth-quarter earnings are winding down but there are still be a few noteworthy names reporting to finish out the month.
Toll Brothers (TOLL, $32.58, up $0.15) got a nice pop at the open but shares are fading despite the company easily beating Wall Street’s estimates. Toll reported earnings of $411 million, or $2.35 a share, on revenue of $633 million. The suit-and-ties were looking for $0.23 a share on sales of $565 million. The huge beat was due to a $350 million income tax benefit. Excluding the tax break, earnings were 35 cents a share and a solid 12 cents a share beat.
Toll Brothers is the top builder in the high-end luxury home business and the quarter was outstanding to say the least. We like the stock but it’s a little pricey and we would wait for a pullback if you are thinking of jumping back into the Housing sector.
Elsewhere, Facebook (FB, $27.26, up $0.22) traded up to $27.47 earlier in the session after announcing a Gift program that could be a huge hit. Shares briefly dipped below $20 in mid-November and continue to show incredible momentum after hitting a high of $28.88 yesterday. There is a chance shares trade to $32 over the near-term.
As we head into the second half of trading, the Dow is up 4 points to 12,970 while the S&P 500 is lower by 3 points to 1,406. The Nasdaq is down 15 ticks to 2,897 but is holding 2,975. The Russell 2000 is off by 2 points to 818 while the S&P 500 Volatility Index is up slightly to 16.92 but has stayed below 17.50 so far this week.
We mentioned Sunday night in our Weekly Wrap and Monday morning in our Daily that the current market conditions are very technically driven right now so make sure you check the charts in the Members Area to get a clear picture of what we are seeing.
We have also updated our current trades and we have a NEW TRADE we are releasing so let’s get on it. Subscribers, check the MA for the updates and be sure to use limit orders to get the best fills.
Last Chance Special Offer/ Amazon.com (AMZN) Beats Expectations, Market Mixed
Friday, April 26th, 2013
12:00pm (EST)
Amazon.com (AMZN, $254.55, down $20.15) shares are getting hammered today despite reporting a better-than-expected quarter after the close last night. The company reported earnings of $0.18 a share on revenue of $16.1 billion. The suit-and-ties were looking for $0.08 a share on revenue of $16.14 billion. The slight miss in revenue and a lower growth have caused a stir on Wall Street but it was a great quarter for Amazon.
In their conference call, the company said “unit growth” came in at 30% but was 200 basis points lower year-over-year. However, gross margins hit an all-time which we feel is the bigger story. Today’s 7% pullback could be a buying opportunity or an option trade as support at $250 is holding. We will check the chart over the weekend to see if there will be a possible rebound or a continued move downtown.
There are a number of companies reporting next week that we are excited about: Clorox (CLX, $86.78, down $0.28), Facebook (FB, $26.87, up $0.73), and MGM Resorts International (MGM, $13.48, down $0.05) will be confessing their numbers to the Street so there could be an option trade or two in play that we like.
We are also thrilled to be doing an update on our favorite small-cap stock that has surge from a recent low of $3 to over $7 a share. We have been following the company for over a year and we have been pounding the table to our subscribers to buy 100, 500, or 1,000 shares or more to sock and stock away for the next year or two.
We have said we expect shares to trade to double-digits and our 6-12 month target has been $10. However, once the fund managers and Wall Street pros find out about this diamond in the rough, shares could still easily double from current levels and push $14-$15. Today, the stock is up another 32 cents that has triggered a 52-week high of $7.49.
We will also be talking about another stock that has fallen from $69 to $17 and could now be a takeover target.
We ran a special yesterday where you could get a 3-month membership to our Weekly Wrap for only $129, or $43 a month. We have discounted the price by over 60% because we want you to make money and we want you to get in on this growth stock that is ready to become a household name. The company plans to open its first 75 stores over the next year.
Here is the deal in case you missed it:
Use this coupon code below and associate it with the 3-month Weekly Wrap and you can join us for a over a 50% savings! The cost is just $129 and is normally priced at $261.
Coupon code:
6FBD9B74
Click here for the Subscription Link
Associate with:
Weekly Wrap – 3 Month Subscription Only $261 for 3 months
Weekly newsletter – Stock market review and analysis for upcoming week.
Once you signup you will have instant access to our Weekly Wrap by logging into the Weekly Wrap Premium section located on our website.
This offer will expire this Sunday night (4/28/2013) at midnight so we urge you to take advantage of this rare opportunity to get in a powerful stock that could reward you well over the next 6-12 months.
We also have a slew of New Trades we are adding to our Daily Watch List over the weekend as we prepare for a continue breakout or a test back to the bottom of the trading range. Today’s close will be important so let’s go over some numbers. (continued…)
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We will be back Sunday night with the Weekly Wrap and the chart work for the major indexes and on Monday morning with the Daily. Until then, have a great weekend! (And be sure to hit us up on our special discounted offer.)
Posted in Earnings, Facebook, Market Analysis, Market Commentary | Comments Off