This week, it’s all about earnings and some of the biggest companies in the world are giving Wall Street a reason to stand up and cheer. Last night Intel beat expectations in every way. Not only did they beat with their earnings and revenue, but also beat on profit margin, while raising their revenue guidance. That was the tri-fecta of earnings reports. That said the stock is trading up pre-market and taking the rest of the market with it.
From the looks of things, Wall Street’s expectations appear to be a little lower than they probably should’ve. But the good news is that it’s all about beating estimates and raising guidance.
J.P. Morgan (JPM) also knocked the cover off the ball with their earnings report. That stock is taking the rest of the financials higher. The question is whether Citi and Bank of America can follow JPM’s lead.
My Research in Motion (RIMM) play looks real strong right now. Be sure to watch that position closely, as this is a stock that could get away from you if you’re not careful.
Let’s have a great day…
