Boeing Earnings To Contract Slightly
On the 26th of April, before the opening bell, The Boeing Company (BA) will release its Q1 2017 earnings report. In a previous article, I had a look at the Q1 deliveries and a quick look at the commercial and military deliveries gave me the impression that Boeing will report a lower revenue in its upcoming quarter report.
Dow’s Boeing (BA) Nears Buy Point Ahead Of Q1 Results, But Revenue To Drop
Dow Jones industrial component Boeing (BA) is expected to report bigger profits, but revenue is seen falling for a third straight quarter when the aerospace giant reports Q1 results Wednesday.
Earnings are seen climbing 11.5% to $1.94 while revenue slips 5.9% to $21.3 billion, marking the fourth top-line drop in the last six quarters. While announcements for new orders grab headlines and point to demand, it’s actual deliveries that put money in the coffers each quarter.
Earnings Preview: What To Expect From Boeing On Wednesday
Boeing Co. is scheduled to report earnings before Wednesday’s open. The stock just hit a record high of $185.71/share in March 2017 and is currently trading near $182/share.
The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, here is what the Street is expecting:
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On the Tape Today | 4-26-17
WYNN | WYNN Resorts one a few stocks that are NOT reaching a Saturation Point. Which means there remains profit potential in a new long. Game Planning a $118.75 buy-stop with an initial target to sell on a new swing trade @ $126,30. Stop loss on a close below $117.50.
LULU | Lululemon stock price showing relative weakness during two strong days. Which means the sellers aren't done punishing the stock. Basically $4 worth of potential on a new short sale, should unfold today and tomorrow. If the stock market sees profit taking, I am game planning to hold longer. Setting up a $52.25 sell-stop and an initial target to cover @ $48. If the big picture gets weak, looking to hold to $45.
Tape Reading the SPY ETF
$SPY price action unfolded exactly as planned yesterday, almost.
Would have preferred a flat open and then a trend higher but that’s just being picky. What’s more important was the tape reading that produce our conviction. If you missed yesterday’s blog post, I suggest you print out the “tape reading” section.
The one problem I have with yesterday’s stock market rally? Volume dropped of 32% from the day before. I don’t mind less shares trade, but we rolled too far back to just under 72 million shares. 28% lower than the volume number I look for.
Yesterday we called the $239-240 level as resistance, so there’s not much left in the upside potential. I am looking for one more bullish day, and then profit-taking in the afternoon. The reason? Stocks are reaching a Saturation Point.
There’s a good chance the S&P 500 hits an all-time high today, but I am game planning to be a seller in to the new buyers, and then looking for the stock market to pause a few days before initiating a new long.
Stock Market Today: Heatmap of the S&P 500
Stocks to Trade 4-26-17 | Wednesday Edition
Bullish Momentum: AA, NFLX, MCD, SM, SRPT, BIDU, DISH, TWLI, APA, WYNN, NFX, TMUS
Bearish Momentum: mdco, espr, slca
Long-Term Order Flow
Bullish Order Flow: MCD, WYNN, TSLA, WDC, UNP, UNH, AVGO, BA (EARNINGS TODAY), HD, FB, BABA, ADBE, COST, RH, SWKS, BIVV
Bearish Order Flow: esrx, tsco, lulu, ibm, slb, panw, hal, apc, slca
2X Normal Volume: AKRX, ESRX, NFLX, CAT, AA, MCD, LLY, ZION, DHR, HON, XLNX, TROW
Inside Days: akrx, csx, wfm, hal, v, mo, kim, wmt, tgt, nbl, momo, gps, hig, skx, hbi, tjx, intu, pgr, ntap, has, urbn
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