Three Stocks: It’s All About the Earnings - Alphabet, Boeing, and AMD

Alphabet

This is what “priced for perfection” looks like.  Alphabet (GOOGL) shares are trading lower by more than 5% after beating on top and bottom line for the quarter. That’s right, they hit all their marks AND their guidance was good. The media picked on ad sales a little, but relative to the rest of the industry, things look good.

I’m watching the 50-day moving average as a great place to buy this stock on the dip.

Boeing

A great quarter gone to waste. That’s what I thought when I saw that the company beat earnings estimates by $0.31 per share this morning. The company decided to hold back on providing guidance for the quarter, which makes sense, given all the wildcards that are in their deck.

Boeing (BA)’s CEO was on CNBC this morning saying all the right things… The company is focused on safety... If bolts are not in place, it is a problem… Boeing owns the results of its work… He doesn't think he lost the confidence of his customers.

The stock is responding positively but has yet to break above $210. I think the verdict is still out and uncertainty is a bad thing for a stock like Boeing.

Advanced Micro  

It feels like it was lost in the mix, but AMD (AMD) provided earnings results last night that were less than impressive. The stock was trading 5% lower after earnings and revenue matched estimates and the company lowered their guidance for the next quarter.

The stock is trading well above its bullish 50-day moving average and looks like a good intermediate-term buy at $150.


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About the Author

Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.

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