Stocks have been very volatile so far this week. On Monday, after a higher opening, things quickly fell. On Tuesday, the opposite happened; after a lower opening, buyers came rushing back in. Today, these were just as choppy, if not more, as investors waiting for Fed's rate decision. As expected, Fed did not change the interest rates, but, it did acknowledge the weakness in the recent economic data.
TWTR was among the top movers. Late yesterday, the company's earnings numbers were leaked out before the market close. TWTR shares quickly dropped more than $9 within one hour, even though the shares were halted for some time. TWTR reported a disappointing quarter, and today received many price target cuts. TWTR shares fell nearly $4 after yesterday's steep drop.
BWLD fell almost 13% after showing decelerating growth. WYNN reported a horrible quarter and cut its dividend, sending its shares down 16.64%. HUM dropped 7.21% after missing its earnings estimates. SSYS lowered its guidance and shares tumbled 22%. CMG shares continue to be weak, falling another $9.5 today. YELP shares fell more than 15% after market on another disappointing quarter.
On the up side, GPRO shares popped +12.63% today after reporting strong quarterly earnings and announcing that the company is working towards virtual reality. AMBA shares popped almost +5% in GPRO's wake. LOGM received upgrades today after beating the street's estimates; LOGM shares vaulted +12.78%. CRM shares suddenly jumped more than +11% late today as rumors surfaced that CRM may be a takeover target.
Biotech shares have been on a two-day slide, but, managed to recover a bit today. Downside drops have been sharp on earnings misses. The cloud space has been on fire lately. VMW shares have been strong. LOGM and CRM popped today, and do not forgot AMZN's huge jump last week. IBM has suddenly become one of the stronger tech stocks on the market. MSFT has jumped in recent days more than it has in years!
Hardware and gadgets are getting lighter, smaller, and smarter. Things are becoming "virtual". Cloud-computing is where technology is heading. Pretty soon, we are going to be able to access our whole lives in thin air!
Good night and HappyTrading! ™