US benchmarks soar to new highs
US30 moves above 27500
Qualcomm to rise after earnings beat
Once more we’re set for a record open in the US this afternoon with equities receiving a boost earlier on the trade front after comments from China that suggested both Beijing and Washington are set to agree on the phasing out of tariffs. Cynics will point to the fact that once more the market has reacted strongly on trade comments that are far from sure to play out, but for the time being there’s very little to go on as far as bears are concerned.
The Dow has rallied over 28% from the low seen at the back end of last year and 7% since the early October low. The market is pushing up against the upper bollinger band but remain firmly in breakout territory above 27397. Source: xStation
One stock called to start brightly today is Qualcomm after the chipmaker beat on both the top and bottom lines in its Q3 results which were released after last night’s closing bell.
Adjusted EPS: $0.78 vs $0.71 expected
Revenue: $4.8B vs $4.7B expected
The strong performance was attributed by the firm to profits that were largely driven by the licensing segment, which generated $1.15B in revenue. “In addition, our QTL results for the third and fourth quarter of fiscal 2019 included royalties from Apple and its contract manufacturers for sales made in the June 2019 and September 2019 quarter, respectively,” Qualcomm said in its statement. The stock is trading higher by more than 5% in the pre market.
Qualcomm shares are expected to start brightly this afternoon with the stock called to open higher by as much as 5% after a solid trading update. The all-time high around 90.33 could be retested in short order. Source: xStation
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.