Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
PayPal, GM, Booking, Moderna: stocks react to reports
PayPal: not good enough
PayPal brought an EPS of $1.22 vs. $1.01 and revenue of $6.03 vs $5.90 beating the market expectations. Also, the CEO of the company announced that they are moving towards a digital wallet that’ll allow crypto asset transfers. Nevertheless, the forecast-beating data and the new market expansion plan were not enough to push the stock through the local resistance level or even make it come closer to $275. The price is trebling above the local support of $245, below all the MAs, and doesn’t seem exactly bullish at the moment.
GM: beating and winning
General Motors performed far better than PayPal against the forecasts. The estimation of the market was an EPS of $1.04 and revenue of $32.67. While the actual revenue was $32.47, the EPS resulted to be $2.25 –more than twice as much as the market expected. That impressed observers enough to make the stock bounce off the local lows of $55 and make it cross all the MAs challenging local highs. The all-time high of $63 is now a feasible target for bulls.
Booking: battered by the virus
Booking Holdings was having a different struggle during the first quarter of the year. As the travel was most hit by the virus, observers were expecting a loss in line with the industry-wide damage. Booking managed to report losses less than the market estimates: an EPS of -$5.26 was brought against the expectation of -$5.97, and revenue of $1.24B beat the forecast of $1.2B. Despite the positivity of the report, the stock price did not rise nor did it even stay afloat around $2340 when the report was out. Instead, it dropped to $2260 reflecting the disappointment of investors and presenting a fragile short-term outlook.
Moderna: a sudden plunge
Moderna’s plunge was spectacular. It beat the EPS expectation of $2.6 with the actual figure of $2.84 but revenue missed the target: $1.94B vs a greater forecast of $2.23B. Apparently, the disappointment was big enough to make the stock price plunge to $145 erasing gains of the last three weeks. Although it quickly recovered some of the losses rising to $160, the resistance zone of the all-time highs of $188 is far away once again.
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
The US central bank, Federal Reserve, will announce its decision on further monetary policy on December 15 at 21:00 MT.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).