Shares of JD.com (JD) surged more than 8% today after the company reported better than expected earnings on Thursday evening.
The earnings report for the fiscal second quarter showed an earnings beat of $3.12 on revenue that came in slightly better than expected. Year-over-year revenue growth came in at 1.2%, down from 7% last quarter and 3.6% the quarter before that.
Analyst at JP Morgan raised their outlook for JD.com shares, upgrading the shares from a “Hold” to “Buy”. The firm also raised its target price for jd.com shares to $36 from 27.
Perhaps more interesting to investors over the past few days has been the company's name on a few 13F filings of interest.
Over the last quarter funds like David Tepper’s Appaloosa and George Soros’ Soros Fund Management have initiated or added to JD.com positions.
Sharesofjd.com have traded from $35 in May to their low prices around $25 within the last two weeks, ahead of earnings.
Today's move takes the stock above its 50-day and 200-day moving averages, both are critical trendlines for jd.com.
The break above these two critical trend lines shifts the stock into a neutral to bullish outlook With a price target of $35.
Shares of casual food diner Chipotle (CMG) are still vacillating at the bottom of their recent range.
The stock took a hit earlier this week on the announcement that the company CEO would be moving to Starbucks to take the same position. The news followed an announcement last month that the company's chief financial officer would be retiring in March of 2025.
Chipotle shares found support at the $50 price level earlier this week. That same price level served as strong support for the stock just ahead of its last quarter earnings.
Last quarter's earnings showed strong revenue growth and earnings per share that outpaced analysts expectations.
The stock continues to struggle with its 200-day average, which is in a bullish trend. That trend line sits at the $54 price level. A Shift above the $55 level would put the stock into a short-term bullish trend. With the target of $60.
Microsoft (MSFT) shares finished the day down 6/10 of a percent as the stock continues to stall at the $420.00 price level.
Microsoft made news earlier today with a press release revealing that the company has disrupted an “Iranian influence operation”.
According to the release, Microsoft “banned accounts linked to an Iranian influence operation using ChatGPT to generate content focused on multiple topics, including the U.S. presidential campaign”.
Microsoft’s investigation uncovered the use of ChatGPT to “generating long-form articles and shorter social media comments”. The content was used for multiple posts to “X” and Instagram posing as supporters of both Progressive and conservative groups.
Shares of Microsoft have been lagging the Nasdaq 100 since the release of the company’s earnings on July 30.
While the stock hasn’t broken below it’s post-earnings lows, Microsoft stock has found it hard to move back above $420, a price that has persisted as resistance multiple times in the last two years.
Investors should maintain a long-term bullish outlook on the stock while expecting short-term volatility and selling that may result in a 4-6 week price that crosses back below $200.
