STTG Market Recap July 24, 2014

Thursday was a quiet session with indexes flipping around the unchanged line.  The S&P 500 gained 0.05% while the NASDAQ dropped 0.04%.   It was another day of very high profile companies reporting.  Economic news in the housing  market was not very good – new home sales declined 8.1 percent in June, the biggest drop in almost a year.

This is day 3 of the new breakout on the NASDAQ…

spx

nasdaq

The NYSE McClellan Oscillator is still below zero so participation is not that great on this latest move.

nymo

Caterpillar (CAT) shares fell after the reported a second-quarter earnings beat, but fell short on revenue.

cat

Under Armour (UA) soared after the sports apparel manufacturer and retailer reported a sharp rise in revenue.

ua

After hours Amazon.com (AMZN) shares fell 10% to the $320s area after the online retailer reported a second-quarter loss that was wider than expected.  Same story here – the company is spending for the future in lieu of profits today.  Most of the time the market approves of that, but sometimes it does not.  New products and businesses unveiled this year include a subscription book service, new digital content for its Prime online video service, a TV streaming-box and the upcoming “Fire” smartphone.  The company spent more than $100 million on original video content in the third quarter, a substantial increase compared to last year and the second quarter.

The online retailer reported a second-quarter earnings per share loss of 27 cents on $19.34 billion in revenue. Analysts had forecast an EPS loss of 15 cents on $19.34 billion in sales. It projected third-quarter sales of $19.7 to $21.5 billion versus a $20.83 billion estimate.

amzn

Starbucks (SBUX)  posted revenue that was slightly higher than expected but fell nearly 3% in after hours.

The coffee company reported third-quarter earnings per share of 67 cents on $4.15 billion in revenue, versus expectations of EPS of 66 cents on $4.14 billion in sales.  That was up from $417.8 million, or 55 cents, a year earlier.  Revenue grew 11 percent to $4.15 billion, boosted in part by the roll-out of new breakfast sandwiches and pastries from its La Boulange bakery.

sbux

Baidu (BIDU) rose 4% in after hours trading after China’s biggest Internet search company reported results that were much stronger than had been expected.  It is already coming off a huge run.

bidu

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