As it happened for Apple Inc (AAPL) and Google Inc (GOOG), Microsoft released very good results, but it was badly hit by the market. It lost 3.36% to $28.18. Amazon Inc (AMZN and Netflix (NFLX) did better after the releasing their results.
Microsoft reported second quarter revenues of $19.02 billion, up 14% year-over-year. The company's earnings per share were 74 cents per share, up 57% from last year and adjusted earnings per share rose 28% to 60 cents per share. Analysts estimated earnings of 59 cents per share on revenues of $17.84 billion.
In the Figure you can see the 5 minute chart.
It seems that investors were waiting for these earnings to download their stocks on good news and probably make the impact on price less significant. However, many had this idea and prices went down quite fast. The trend of this market is down (MSFT lost about 10% from the top) and every rebound is seen as an opportunity to sell. Too bad I closed my short position on the S&P too soon. I was not expecting this speed to the downside.
I like checking on twitter what is being said (my comment between brackets). I think it provides good indications of the sentiment of the more active traders. Who knows may be "tweeting" sentiment could be quantified to build momentum strategies...
- posts record profits, but the stock is still down 5%? (Sorry buddy!!!)
- not certain that the sell off is over, but these are good stocks (never hope...)
- I'd double my MSFT if I hadn't already (be careful don't hurt yourself, don't average just close the trade, it was wrong!)
- just coiling to pop lower again (yes)
- i think this is the time for jumping in
- headed further south...
- MSFT getting murdered
- somehow AAPL and MSFT are being manipulated, no idea how (it is manipulated only when it goes down?)
- look out could reach 26.22
- very disappointing
It seems to me that the majority of traders were looking at the stock from a bearish perspectives. Long guys were in disbelief because they already owned the stocks. Very few considering to go long though.
It is interesting to see what happens after the realease of earnings. Take a look at this post
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