Selling in Energies Intensifies as the Sector’s Earnings Take Center Stage: 7 Stocks You Need to Know for Thursday
Against a backdrop of aggressive selling in energy companies, energy company earnings will take center stage over the next few days, with Exxon Mobil reporting quarterly profits on Thursday, and ^CVX^ reporting on Friday.
Among the other companies scheduled to report quarterly earnings on Thursday are ^MSFT^ and ^PG^. Both stocks were higher in trading on Wednesday, with MSFT closing above its 200-day moving average for a second day in a row.
Here are 7 Stocks You Need to Know for Thursday.
Soaring by more than 7% and closing at a new high for the year were shares of ^AMZN^. The stock’s big move higher comes after a two-day pullback that took AMZN below its 5-day moving average.
Scheduled to announce quarterly earnings on Thursday, ^XOM^ saw its shares reverse to the downside intraday on Wednesday. XOM managed to finish the session well off the lows of the day and close near the highs.
Up nearly 2% on Tuesday were shares of ^CAH^ (below).
The rally in CAH puts the stock at its highest levels of the year, and marks CAH’s fifth close in overbought territory out of the past six trading days. Cardinal Health is scheduled to report quarterly earnings on Thursday.
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Despite gaining more than 4% on the day, shares of ^BHI^ closed below its opening price on Thursday, suggesting that the growing profit-taking in energy shares may be coming to BHI.
Up more than 2% and closing higher for a sixth day in a row are shares of ^EBAY^ (below).
Wednesday’s rally puts EBAY in overbought territory for a third day in a row. The company reported quarterly earnings and revenues after the bell on Wednesday that were better than expected.
One day after closing in overbought territory below the 200-day moving average, shares of ^CSCO^ were moving lower.
CSCO closed lower by well over 1% on Wednesday. We highlighted Cisco and its overbought condition in yesterday’s 7 Stocks You Need to Know.
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Shares of Netflix ^NFLX^ rallied by more than 3% on Wednesday, rallying from a pullback that took the stock to just outside oversold territory above the 200-day.
David Penn is Editor in Chief of TradingMarkets.com