Market Lab Report - Premarket Pulse 10/28/15
Twitter (TWTR) disappointed after the close with its earnings report, trading more than 10% lower. This is the third earnings disappointment in a row for the company.
Apple (AAPL) also reported earnings after the close which pushed the stock 3% higher after hours before it settled in to be up about 1%, where it is at currently in pre-market trade. AAPL's last earnings report was considered a blowout, yet the stock gapped down hard. This time around AAPL merely met estimates, which is so far having a positive effect on the stock and the NASDAQ-100 futures, of which AAPL is a significant component.
Electronic mortgage origination service provider Ellie Mae (ELLI) had a pocket pivot as it rounds out the lower portion of its base through its 50dma. Earnings and sales are strongly accelerating, pretax margin 25.3%, group rank 34.
Semiconductor company Integrated Device Technology (IDTI) had a buyable gap up on a strong earnings report. Earnings are skyocketing, pretax margin 26%, group rank 59. Note that while the stock finished in the lower half of its trading range, it is still up nicely in context with its chart. Naturally, in the days ahead, as a good sell stop, it can be sold should it break below yesterday's low by 1-2%.
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