Stock Trends

Earnings movers, people love cruises and tech wreck

Good morning,

It’s the heart of earnings season which means nearly everything is moving at the individual stock level. And while it might seem like everything was moving lower yesterday, one in three stocks in the S&P 500 was actually higher on the day.

This week we’ll look at some of the biggest earning moves of the past week as well as:

• Strong cruise ship charts

• Communication services focus

• Technology and semiconductors

• Why insurance is still leadership

• and more!

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Earnings movers

Hot List holding Spotify spikes 12% on earnings

Spotify broke out to new multi-year highs following its earnings report Tuesday morning. The stock is now closing in on its all-time high ($365 closing high) from early 2021.

Lockheed Martin adds to the breakout

I highlighted LMT last week as a stock that had “more room to run” and run it did. The stock is up 9% in just the past two days, hitting a new all-time high.

UPS still sucks

UPS fell 12% on Tuesday, remarkably its worst day ever. What’s not remarkable is that it broke lower. We’ve been highlighting this one all year and it continues to break lower at every opportunity.

Paging Dr. Phil D. Gap

Tesla led the Mag 7 sell-off yesterday with a 12% drop following earnings. The stock filled two gaps it left behind during its historic run-up and found support at the lower one near $213. There’s a ton of support between yesterday’s close and $206 but the sell-off kept the longer-term downtrend intact. 👇

Alphabet decline could be a buying opportunity