Earnings continue to come in very strong – several of the companies that reported this morning are surging today: Genlyte Group (GLYT) is up over 5%, Peabody Energy (BTU) is up over 4%, Jefferies Group (JEF) is up 5%, Lone Star Technologies (LSS) is up 7% and Precision Castparts (PCP) is up nearly 9%.
The big names (Amgen, Yahoo and Intel) will report after the belll today, which should provide movement for the markets tomorrow (at least in the first hour or so of trading). While the big names get most of the attention, it’s the smaller, faster growing companies i’m most interested in. The highest rated company in the SelfInvestors.com database reporting after the bell today is USANA Health Science (USNA), which develops and manufactures science-based nutritional and personal care products. It ranks 51 (out of a possible 60). Although sales growth has been decelerating for several quarters, it’s still very good at about 25% quarter over quarter.
Over the past few months, USNA has carved out a real nice looking base, with volume drying up at the bottom, then surging as it forms the right side. Looks like the stock is attempting to form a handle. Maybe earnings tomorrow will be the catalyst for a breakout from a short handle?
Other companies reporting after the bell today:
- Juniper Networks (JNPR): Juniper has made an impressive comeback after the tech meltdown, in which they’ve been consistently doubling sales and earnings quarter over quarter for the last year or so. Technically it looks very good as well and is above major support levels.
- Gilead Sciences (GILD): Biotech has been red hot and GILD is no exception, running up over 30% in the last couple months. The stock is currently too extended from a proper buy point.
- CR Bard (BCR): CR Bard is a solid medical device company, although sales growth has been decelerating and posted quarter over quarter sales growth of 11 and 9% respectively in the latest 2 quarters, a bit on the light side. The stock looks to find support at the 200 day moving average as it carves out a new base.
Forgot to mention the report out of XTO Energy (XTO) this morning:
- XTO is a highly rated oil company that posted fantastic earnings this morning. The stock currently sits in a buyable range, but the base is a bit suspect with a sharp V like pattern. The stock is up 1% today.