The focus for today will shift to Coca-Cola and Twitter as their earnings are due out Pre-Market today, while Illumina and Expedia also have earnings set to be released after market close.
Some of the larger funds have been selling off Twitter stocks prior to earnings being announced, however, the social media platform is trying to position itself for the NFT markets as they start to incorporate the feature into their premium service.
A lot of focus will be on Coca Cola’s sales as investors look to see if the beverage company’s sales picked up significantly as a reopening economy should drive higher outdoor sales.
- Tilray Brands Inc (TLRY) was up 10.72% yesterday as Cannabis stocks jump after positive growth from Canopy Growth
- Block Inc (SQ) was up 10.31% yesterday as fintech stocks rallied during the course of the day
- Chipotle Mexican Grill Inc (CMG) was up 10.16% following quarterly earnings and excitement regarding development plans
- XPeng Inc (XPEV) was up 9.58% following its dual listing in Hong Kong.
|Stock||Symbol||Announcement date||Release Time||EPS Estimate|
|Expedia Group Inc||EXPE||10/2/2022||Post-Market||$1.76|
Stocks to watch:
NVIDIA Corporation (NVDA)
As we watched the collapse of the Nvidia-Arm deal we saw some much needed upward momentum for the chip manufacturer as the capital outflow is likely not to continue pushing the share price higher breaking the 50-day moving average. However, from a technical point of view the share is sitting at a point of decision making, given a test on the 200-day moving average and the rejection off there, there could be a significant uptick if the falling trend line is broken.