Google, Intel, Citigroup Kick Earnings Into Full Swing
Earnings season steps into high gear next week as a number of financial and technology companies report results including Intel Corp.
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PowerRating), Goldman Sachs
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PowerRating), Citigroup
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PowerRating). Investors will also hear from bellwether General Electric
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Next week will also give investors an idea about housing and inflation when the government releases the latest report on housing starts and the consumer price index.
Google is one company that investors like to trade going into earnings. On Thursday, the owner of the largest search engine is expected to report first quarter earnings of $4.96 per share, up 2.5% from a year ago, on revenue of $4.09 billion, according to analysts polled by Thomson Reuters. Google shares broke back above their 50-day moving average of $330 on March 20th and have a lot of room to move higher.
Investors trading into Google earnings on Thursday should know that shares lean toward a reversal pattern between the sessions in its long-term performance, cutting back its post-earnings evening share direction in next-day trade in 10 of the last 18 quarterly reports. However, in the near-term, the stock favors widening, extending its evening share move in the next day’s session in three of the last four quarters. On January 22, shares rose 2% in after-hours trading and extended their gains in the following regular session, ending up 5.9%.
On Tuesday, Linear Technology
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Linear likes to widen it’s after hours move in the following regular session, doing so in the past 11 of 16 after-hours earnings releases. The near-term pattern also shows wider moves in the last six consecutive quarters. On January 13, the stock lost 2.6% in after-hours trading and widened its move the next regular session, ending down 4.1%.
Cassie Slane is a Senior Editor at www.MidnightTrader.com.