April 26, 2019 Weekly Wrap up LIVE from the floor of the NYSE

On Monday existing home sales for March declined 4.9% to an annualized 5.21 million units and U.S. crude surged 2.7% to $65.70 a barrel after the Trump administration decided to revoke special waivers allowing some countries to purchase Iranian oil. 

On Tuesday, new home sales for March rose 4.5% to an annualized 692,000 units, stronger than expected.  Earnings season is in full swing and some better than expected results pushed the S&P 500 and Nasdaq Composite to close at record highs. 

On Wednesday the EIA petroleum status report for the week ending April 19th saw crude oil inventory rise 5.5 million barrels. Ten-year Treasuries yielded 2.52% falling on concerns of a global slowdown as German business sentiment declined in April as well as news that China might slow stimulus in favor of structural changes to its economy. 

On Thursday durable goods orders for March rose an unexpectedly strong 2.7% compared to the prior month’s 1.1% decline and jobless claims for the week ending April 20th surged 37,000 to 230,000, probably a statistical anomaly caused by the Easter holiday. 

On Friday the first estimate of the first quarter GDP came in at 3.2%, much stronger than estimates, and consumer spending grew 1.2%.   Despite the good news, markets opened flat after some mixed earnings reports disappointed.  Now let’s take a look at some stocks.

Twitter, Inc. (NYSE: TWTR) reported its first quarter financials before market open on Tuesday, with earnings of 37 cents per share on revenue of $787 million. Analysts projected earnings of 15 cents. Twitter’s advertising revenue was $679 million, increasing 18% year-over-year and average monetizable daily active users (DAU) were 134 million for the first quarter, up from 120 million the same period last year.  Shares soared by over 12% on the news.

Snap Inc. (NYSE: SNAP) shares slipped on Wednesday morning after the company released its quarterly results during Tuesday’s after-market hours. Snap surpassed earnings estimates, however, shares tumbled by 4.5%. For the first quarter, Snap reported a loss of 10 cents per share on revenue of $320 million, however, analysts had estimated an earnings loss of 12 cents on revenue of $307 million. Daily active users were 190 million, up 4 million from the previous quarter, however, down 1 million from a year ago.  Shares fell 4.5% on the news.

Facebook, Inc. (NASDAQ: FB) reported its first quarter results after the market close on Wednesday. The social media giant narrowly surpassed analysts’ estimates, which sent shares higher by as much as 9%. Earnings came in at 85 cents per share on revenue of $15.1 billion and daily active users grew by 8% year-over-year to 1.56 billion.  The company also disclosed it may be facing between $3-5 billion in fines from the Federal Trade Commission.

3M Company (NYSE: MMM) reported its first quarter results before market open on Thursday, with earnings coming in at $2.23 per share on revenue of almost $7.9 billion.  The Company missed its quarterly estimates for both revenue and earnings, which sent shares plunging by 10%.  Earnings were heavily impacted due to a litigation charge of approximately $548 billion or 72 cents per share.  3M expects to reduce its workforce by 2,000 positions worldwide.

Amazon.com, Inc. (NASDAQ: AMZN) reported its first quarter financial results after market close on Thursday. The e-commerce giant smashed earnings estimates, however, revenue fell in-line with estimates, causing shares to rise by 1.5% during extended trading hours. For the first quarter, Amazon reported earnings of $7.09 per share on revenue of $59.7 billion, with revenue growing 17% year-over-year.  International revenues declined by 9%.

  1. Yuena L. 4 months ago

    $AMZN Hopefully more of you are grasping the significance of the major moving averages crossing above each other. A POWERFUL SIGNAL.

    • Eugene Honders 4 months ago

      can’t believe Amazon is gearing so close towards $2000 again. #bulls

  2. Dan Pitre 4 months ago

    Preliminary game plan for Monday $amzn $fb $msft all dip buys into rising 60min support if possible. Pot names on continued strength & rejection supply into any strength $tsla . Have a plan. Wait for confirmation & strike with extreme prejudice.

  3. Mark Hruska 4 months ago

    $AMZN needs to get above this 5min BB – been struggling for last 15-20mins

  4. Omair Amad 4 months ago

    $FB green week
    Hammer on daily
    Might see this going up again
    Inside 4H , never tried that strategy (tried inside 60)

    • Eric Sufert 4 months ago

      $FB calls very nice this morning…sitting out everything else. 1 trade today is sufficient…. setup must be right for you and only you know what that is. stick to it and your PnL will improve greatly instead of chasing like a mad man.

    • Nancy Gondo 4 months ago

      $FB higher than body of ydays candle is bullish

  5. Mike Delano 4 months ago

    $FB move to privacy is extremely smart, and necessary. They own decade of user content – memories, videos, pictures. The future is not just ads.

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