Market Lab Report - Premarket Pulse 11/3/15
Telecom infrastructure company Dycom (DY) had a pocket pivot. Earnings are skyrocketing, sales are accelerating, group rank 11. Despite several pocket pivots in the stock over recent weeks, it has remained in a flat base as earnings approach later this month.
Cosmetic retailer Helen of Troy (HELE) had a pocket pivot. HELE gapped higher on its prior earnings report. It has since traded sideways and is just breaking out of its consolidation. Group rank 32.
Cruise line company Norwegian Cruise Lines (NCLH) had a pocket pivot. Earnings and sales are accelerating, group rank 55.
Financial software solutions company SS&C Technologies Holdings (SSNC) had a pocket pivot. Sales are strongly accelerating, pretax margin 37.2%, group rank 31.
Tesla Motors (TSLA), which we have initiated as a short-sale twice since August, leading to substantial downside each time it failed at its 50-day moving average, is set to announce earnings after the close. Those holding short positions in the stock should consider whether they wish to play "earnings roulette" or bank their profits and wait to see where the stock goes following the report. Otherwise, we maintain our downside target of $180, notwithstanding any rallies that may occur between now and then.
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