Stocks rise and drop on their earnings reports. Let's review those which reported recently.
Earnings review: Twitter up, Cisco down
Twitter’s better-than-expected performance for the latest quarter sent the stock soaring in after-trade hours. The price has reached an all-time high of $60. However, the pullback to the downside is expected to happen soon as all technical indicators signal the stock is overbought. The RSI indicator went above the 70.00 level, also the price passed through the upper line of Bollinger Bands and touched the upper trendline. Nevertheless, the positive earnings may drag the price to $65.00, but if Twitter starts falling, it shouldn’t go lower the support level of the recent lows at $54.00.
Cisco published slightly better earnings results than the market estimate: 79 cents per share versus the forecasted 76 cents per share. Revenue came out better than expected as well: $11.96 billion vs. $11.92 billion. However, it was worse than a year ago. Actually, revenue declined for the fifth consecutive quarter as the Covid-19 crisis hit hard Cisco. As a result, Cisco dropped in after-trade hours. Support levels are at the low of August 2020 at $47.00 and at the 50-day moving average of $45.00.
You can also trade stocks with FBS Trader mobile app. Remember that stock trading starts as the US session begins (at 16:30 MT time).
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5 or FBS Trader app. FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area (an account in FBS Trader).
- Start trading!
If you only you entered position with these stocks a month ago.. See the article and see what you'd have by now.
How did the quarterly earnings reports affect stock prices? Let's make a review of the stocks that saw the corresponding announcements recently.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.