Here are the most notable earnings releases for the trading week beginning October 28th, 2019- ($AAPL $AMD $FB $T $SHOP $HEXO $BYND $SPOT $GOOGL $MA $BABA $WBA $GE $SBUX $TWLO $MRK $GRUB $ABBV $ON $PFE $ENPH $QSR $GM $MO $AWI $L $TEX $AMG $BMY $XOM $CHKP $AKAM $CTB $PINS $EXAS $EPD $KHC $ELY $AMGN $CI $X $GLW $LYFT $MCY $DO $AYX $YUM) (This post will be edited later with the notable earnings details & charts) ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ Here are the most notable Highest Volatility earnings releases for the trading week beginning October 28th, 2019- ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ Apple, Inc. $246.58 Apple, Inc. (AAPL) is confirmed to report earnings at approximately 4:30 PM ET on Wednesday, October 30, 2019. The consensus earnings estimate is $2.84 per share on revenue of $62.57 billion and the Earnings Whisper ® number is $2.93 per share. Investor sentiment going into the company's earnings release has 72% expecting an earnings beat The company's guidance was for earnings of $2.59 to $2.93 per share. Consensus estimates are for earnings to decline year-over-year by 2.41% with revenue decreasing by 0.52%. Short interest has increased by 13.2% since the company's last earnings release while the stock has drifted higher by 13.9% from its open following the earnings release to be 25.3% above its 200 day moving average of $196.73. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, October 14, 2019 there was some notable buying of 28,061 contracts of the $220.00 put expiring on Friday, November 1, 2019. Option traders are pricing in a 4.5% move on earnings and the stock has averaged a 5.1% move in recent quarters. Advanced Micro Devices, Inc. $32.71 Advanced Micro Devices, Inc. (AMD) is confirmed to report earnings at approximately 4:20 PM ET on Tuesday, October 29, 2019. The consensus earnings estimate is $0.18 per share on revenue of $1.80 billion and the Earnings Whisper ® number is $0.18 per share. Investor sentiment going into the company's earnings release has 64% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 80.00% with revenue increasing by 8.89%. Short interest has increased by 21.5% since the company's last earnings release while the stock has drifted higher by 2.0% from its open following the earnings release to be 15.4% above its 200 day moving average of $28.35. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, October 17, 2019 there was some notable buying of 28,665 contracts of the $29.00 put expiring on Friday, December 20, 2019. Option traders are pricing in a 9.6% move on earnings and the stock has averaged a 12.8% move in recent quarters. Facebook Inc. $187.89 Facebook Inc. (FB) is confirmed to report earnings at approximately 4:05 PM ET on Wednesday, October 30, 2019. The consensus earnings estimate is $1.90 per share on revenue of $17.33 billion and the Earnings Whisper ® number is $2.02 per share. Investor sentiment going into the company's earnings release has 79% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 7.95% with revenue increasing by 26.25%. Short interest has decreased by 0.2% since the company's last earnings release while the stock has drifted lower by 9.1% from its open following the earnings release to be 5.2% above its 200 day moving average of $178.54. Overall earnings estimates have been revised higher since the company's last earnings release. On Tuesday, October 22, 2019 there was some notable buying of 20,043 contracts of the $325.00 call expiring on Friday, January 15, 2021. Option traders are pricing in a 5.9% move on earnings and the stock has averaged a 8.4% move in recent quarters. AT&T Corp. $36.91 AT&T Corp. (T) is confirmed to report earnings at approximately 6:20 AM ET on Monday, October 28, 2019. The consensus earnings estimate is $0.93 per share on revenue of $45.52 billion and the Earnings Whisper ® number is $0.94 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 3.33% with revenue decreasing by 0.48%. The stock has drifted higher by 14.7% from its open following the earnings release to be 11.1% above its 200 day moving average of $33.21. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, October 8, 2019 there was some notable buying of 308,450 contracts of the $30.00 call expiring on Friday, January 17, 2020. Option traders are pricing in a 4.1% move on earnings and the stock has averaged a 5.1% move in recent quarters. Shopify Inc. $317.45 Shopify Inc. (SHOP) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, October 29, 2019. The consensus earnings estimate is $0.11 per share on revenue of $381.46 million and the Earnings Whisper ® number is $0.16 per share. Investor sentiment going into the company's earnings release has 74% expecting an earnings beat The company's guidance was for revenue of $377.00 million to $382.00 million. Consensus estimates are for year-over-year earnings growth of 83.33% with revenue increasing by 41.25%. Short interest has decreased by 19.4% since the company's last earnings release while the stock has drifted lower by 5.0% from its open following the earnings release to be 17.7% above its 200 day moving average of $269.78. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, October 22, 2019 there was some notable buying of 1,505 contracts of the $360.00 call expiring on Friday, November 1, 2019. Option traders are pricing in a 9.4% move on earnings and the stock has averaged a 6.6% move in recent quarters. HEXO Corp. $2.38 HEXO Corp. (HEXO) is confirmed to report earnings after the market closes on Monday, October 28, 2019. The consensus estimate is for a loss of $0.05 per share on revenue of $19.30 million. Investor sentiment going into the company's earnings release has 49% expecting an earnings beat. Short interest has increased by 107.7% since the company's last earnings release while the stock has drifted lower by 61.5% from its open following the earnings release to be 56.7% below its 200 day moving average of $5.50. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, October 10, 2019 there was some notable buying of 4,144 contracts of the $4.00 call expiring on Friday, February 21, 2020. Option traders are pricing in a 23.1% move on earnings and the stock has averaged a 5.5% move in recent quarters. Beyond Meat, Inc. $100.81 Beyond Meat, Inc. (BYND) is confirmed to report earnings at approximately 4:00 PM ET on Monday, October 28, 2019. The consensus earnings estimate is $0.05 per share on revenue of $77.10 million and the Earnings Whisper ® number is $0.06 per share. Investor sentiment going into the company's earnings release has 43% expecting an earnings beat. The stock has drifted lower by 45.9% from its open following the earnings release. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 25.8% move on earnings in recent quarters. Spotify Technology S.A. $120.69 Spotify Technology S.A. (SPOT) is confirmed to report earnings at approximately 6:00 AM ET on Monday, October 28, 2019. The consensus estimate is for a loss of $0.32 per share on revenue of $1.92 billion and the Earnings Whisper ® number is ($0.36) per share. Investor sentiment going into the company's earnings release has 51% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 186.49% with revenue increasing by 22.15%. Short interest has decreased by 13.8% since the company's last earnings release while the stock has drifted lower by 19.0% from its open following the earnings release to be 11.7% below its 200 day moving average of $136.67. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, October 16, 2019 there was some notable buying of 1,974 contracts of the $109.00 put expiring on Friday, November 1, 2019. Option traders are pricing in a 7.7% move on earnings and the stock has averaged a 3.1% move in recent quarters. Alphabet, Inc. - Alphabet, Inc. (GOOGL) is confirmed to report earnings at approximately 4:00 PM ET on Monday, October 28, 2019. The consensus earnings estimate is $12.57 per share on revenue of $32.71 billion and the Earnings Whisper ® number is $12.94 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 3.75% with revenue decreasing by 3.05%. Short interest has decreased by 4.4% since the company's last earnings release while the stock has drifted higher by 3.0% from its open following the earnings release to be 8.3% above its 200 day moving average of $1,167.05. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, October 18, 2019 there was some notable buying of 1,578 contracts of the $1,200.00 put expiring on Friday, November 15, 2019. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 4.8% move in recent quarters. Mastercard Inc $270.19 Mastercard Inc (MA) is confirmed to report earnings at approximately 7:50 AM ET on Tuesday, October 29, 2019. The consensus earnings estimate is $2.01 per share on revenue of $4.42 billion and the Earnings Whisper ® number is $2.06 per share. Investor sentiment going into the company's earnings release has 76% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 12.92% with revenue increasing by 13.39%. Short interest has increased by 11.4% since the company's last earnings release while the stock has drifted lower by 3.3% from its open following the earnings release to be 7.8% above its 200 day moving average of $250.57. Overall earnings estimates have been unchanged since the company's last earnings release. On Wednesday, October 23, 2019 there was some notable buying of 8,143 contracts of the $260.00 call expiring on Friday, November 1, 2019. Option traders are pricing in a 3.9% move on earnings and the stock has averaged a 2.6% move in recent quarters. ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ Here are the most anticipated Earnings Releases for this upcoming trading week ahead. ***Check mark next to the stock symbols denotes confirmed earnings release date & time*** Monday 10.28.19 Before Market Open: Spoiler: CLICK HERE TO VIEW MONDAY'S AM EARNINGS TIMES & ESTIMATES! Monday 10.28.19 After Market Close: Spoiler: CLICK HERE TO VIEW MONDAY'S PM EARNINGS TIMES & ESTIMATES! Tuesday 10.29.19 Before Market Open: Spoiler: CLICK HERE TO VIEW TUESDAY'S AM EARNINGS TIMES & ESTIMATES! Tuesday 10.29.19 After Market Close: Spoiler: CLICK HERE TO VIEW TUESDAY'S PM EARNINGS TIMES & ESTIMATES! Wednesday 10.30.19 Before Market Open: Spoiler: CLICK HERE TO VIEW WEDNESDAY'S AM EARNINGS TIMES & ESTIMATES! Wednesday 10.30.19 After Market Close: Spoiler: CLICK HERE TO VIEW WEDNESDAY'S PM EARNINGS TIMES & ESTIMATES! Thursday 10.31.19 Before Market Open: Spoiler: CLICK HERE TO VIEW THURSDAY'S AM EARNINGS TIMES & ESTIMATES! Thursday 10.31.19 After Market Close: Spoiler: CLICK HERE TO VIEW THURSDAY'S PM EARNINGS TIMES & ESTIMATES! Friday 11.1.19 Before Market Open: Spoiler: CLICK HERE TO VIEW FRIDAY'S AM EARNINGS TIMES & ESTIMATES! Friday 11.1.19 After Market Close: Spoiler: CLICK HERE TO VIEW FRIDAY'S PM EARNINGS TIMES & ESTIMATES!
Here are the scheduled earnings releases due out before the market open on Monday morning (10/28/19)- ($T $SPOT $WBA $ON $QSR $L $AWI $CHKP $EPD $AMG $CTB $DO $MCY $DTE $DORM $BOH $ARLP $AVX $CNA $OPB $AMAL $FMX $LBY $PHG $HSBC)
Here are the scheduled earnings releases due out after the market close today (10/31/19)- ($PINS $X $AYX $MELI $ANET $FTNT $FNKO $EGO $QRVO $MTZ $CAR $BLDR $SSNC $WU $APPN $CDNA $LOCO $LYV $JCOM $HTH $OLN $BIO $FLR $AMN $BGS $CASA $NPTN $KNSL $RMAX $TDS $OTEX $ERII $CWST $ATR $USM $BSMX $AMSF $AAON $MTX $GLPI $GPOR)
Here are the scheduled earnings releases due out before the market open on Friday morning (11/1/19)- ($BABA $ABBV $XXOM $CVX $BAH $STX $AIG $D $CL $NWL $MGI $FND $BGG $LNG $WPC $CBOE $ABR $CIO $AXL $RDY $IMGN $HMSY $FTS $GSHD $AMAG $HRC $LYB $BTE $CCJ $HAE $IMO $ITT $ASIX $IBP $MGLN $RUTH $TRP $TWIN $SRE $PBA $MD $ROLL $SNR $XENT $POR)
Long List of Today's Triple Plays Thu, Oct 31, 2019 Today is one of the busiest days of earnings season, and with these reports, we have also gotten a massive number of triple plays over the past 24 hours. Since last night's close, 22 companies have reported better than forecasted sales and EPS while also raising guidance. For reference, heading into today there were a total of only 35 triple plays this entire earnings season! Charles River Associates (CRAI), a consulting firm, is up the most since last night's close having risen more than 20%. Other stocks that have risen double-digits include Universal Display (OLED), ManTech (MANT), Ultra Clean Holdings (UCTT), and Teledoc (TDOC). Of all these triple plays, Inovalon (INOV) saw the largest gap up at the open, rising 13.94%. Despite that gap up, INOV has fallen since the open. On the other hand, only three companies, Generac (GNRC), YETI (YETI), and ACADIA Pharma (ACAD) gapped down today. While overall performance so far for this group of stocks has been strong with an average gain of over 4.7%, intraday performance has been somewhat weak. Just under half of them have sold off since the open. The worst of these is recent IPO Lyft (LYFT) which, as of this writing, has fallen almost 7% since the open, erasing all of its gap higher. Cigna (CI), Masimo (MASI) and FormFactor (FORM) have also more than erased this morning's gap higher. Using data from our Earnings Explorer, other stocks that have reported triple plays this earnings season have risen an average of 0.83% from open to close and have averaged a full-day gain of 4.86%. Looking at all triple plays throughout history since our data begins in 2001, those averages are 0.26% and 5.4%, respectively. In other words, this season's triple plays including today have been doing better than average on an intraday basis, but have been slightly weaker in regards to the full-day stock price reaction.
Guidance Trends Lower Wed, Oct 30, 2019 Our good friend (and a former boss) Laszlo Birinyi used to hammer home that "it's all about the guidance!" when it comes to earnings reports for specific companies. That is indeed very true as investors discount stocks based on forward projections more than what they've done in the past. On the subject of guidance, this season we've been seeing a lot more companies lower guidance than raise guidance, which has resulted in a pretty big tick lower in our guidance spread reading on our Earnings Explorer page (available to Bespoke Institutional members). Our guidance spread reading shows the difference between the percentage of companies that have raised guidance and lowered guidance over the last three months on a rolling basis. A positive reading means more companies have raised guidance than lowered guidance over the last three months and vice versa for a negative reading. As you can see, the reading is currently at -6.48 percentage points, which is well below the historical average of -2.97. (It's notable that historically the average guidance spread has been negative, which tells us that in general companies like to under-promise and over-deliver.) The guidance spread completely tanked in the first quarter of 2019 before stabilizing and rallying back during the summer. While it hasn't been in positive territory all year, the spread did briefly get above its historical average during the Q2 reporting period in July. A negative guidance reading means companies are less optimistic about the future than they could be, but it's not necessarily a bearish sign for the stock market. If anything, it gives companies an easier chance at beating estimates going forward as long as the economy doesn't completely fall off a cliff. As you can see in the second chart below that extends our guidance spread reading all the way back to 2003, the current reading is hardly a negative outlier to be concerned about. The only time the spread really collapsed was in mid to late 2008 in the midst of the Financial Crisis.
Here are the bigger-than-usual earnings moves on Thursday (10/31/19)- ($MMSI $WRLD $MUSA $WWE $MDC $PVG $CRUS $TDOC $WDC $LNC $CHEF $TPX $W $EGOV $RYN $VET $MC $HCC)
Here are the bigger-than-usual earnings moves on Friday (11/1/19)- ($CRC $MRC $RUTH $LOCO $ANET $QRVO $KNSL $XENT $AXL $CDNA $HRTG $MD $X $TPB $GSHD $BRKR $NPTN $ACLS)
