Dow Breaks 13,000, AMZN Earnings Soar
Stocks are sharply higher this morning as better than
expected earnings continue to roll out. Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating)
reported spectacular Q1 profits of $111 million compared to $51 million one year
ago. AMZN is currently up 17% in pre-market trading.
Other notable earnings performances come from blue-chip stock
Boeing, which reported a 27% increase in first-quarter net income with $877
million or $1.13 earnings per share. PepsiCo
(
PEP |
Quote |
Chart |
News |
PowerRating) reported a
16% rise in net income and Chicago-based electric utility provider Exelon
(
EXC |
Quote |
Chart |
News |
PowerRating) posted Q1 earnings of $691 million vs. $400 million from last year.
New developments in Apple’s
(
AAPL |
Quote |
Chart |
News |
PowerRating) options
backdating scandal are leading the stock higher today by 1% in pre-market
trading. Positive sentiment returns as the options scandal is put to rest
with no adverse consequences to the company.
For more stocks
to watch, see
TradingMarkets 7 Trading Ideas for Today.
Wednesday‘s
PowerRatings Heat Map continues to be moderately bearish, with very little
green to be found. Taking long positions at this point in the market increases
risk. The Drug sector continues to show an interesting divergence between high
and low PowerRatings stocks and opens up the possibility to start positions both
to the long side and to the short side.
Today’s featured
list comes from our
PowerRatings Biggest Down Changes. These stocks have had the biggest
one-day move to the downside in their PowerRatings. These stocks should likely
be avoided and are possible short candidates.
For a free PowerRatings trial,
click here. If
you have any questions about PowerRatings or the new Stock Indicators please
feel free to email us or call 213-955-5858 ext 1.
Darren Wong
Associate Editor
darrenw@tradingmarkets.com
Reminder: We are in no
way recommending the purchase or short sale of these stocks. This article is
intended for education purposes only. Trading should be based on your own
understanding of market conditions, price patterns and risk; our information is
designed to contribute to your understanding.