A quick rundown of highlights from last night’s reports:
- Google (GOOG) still trading down, but has recovered significantly in after hours after the company failed to issue a report that was 100% positive. While results were impressive, they didn’t exactly post blow out results and news of a summer slowdown and lawsuit with Microsoft are giving investors a reason to take some profits. Maybe this sets up a move to support of the 50 day moving average for the first time since April (to around 280).
- Tempur-Pedic (TPX) is down more than 10% after hours after the company missed revenue estimates. Growth remains very good, but it appears that the torrid pace may be slowing. Barrons and CIBC both believe that the company faces increased competition and lower margins in the future. CIBC downgraded the stock this morning. Despite the news, Tempur Pedic still remains an outstanding company fundamentally and is one to keep an eye on.
- Affymetrix (AFFX) is down nearly 15% after hours after the company missed estimates by a wide margin and guided lower for the 3rd quarter and full year ’05. The stock has more than doubled in the last year so anything less than outstanding results was going to derail this stock… which is typically the case with most companies. Almost always wise to sell before or wait to initiate a position after earnings are reported. Not worth the risk.
Better Results…
- Ixia (XXIA): Reported results in line with estimates which resulted in another strong quarter. 100% quarter over quarter revenue growth and another 54% increase in quarter over quarter (year ago) in earnings growth. The stock actually sold off hard yesterday before earnings were reported and sliced through the 50 day moving average.
- Stamps.com (STMP): Reported another very impressive quarter of growth as earnings growth continues to accelerate (138%, 150%, 217% and 250% in the last 4 quarters). Revenue grew at 74% quarter over quarter. The breakout in the stock that began late April failed to materialize and the stock remains below the 50 day moving average at this point.
Also reporting solid results after the bell yesterday: CE Franklin (CFK), Computer Programs and Systems (CPSI)
_____________________________________________________________________
A few earnings to report before the bell this morning:
- Angiodynamics (ANGO): stock is up more than 2% after reporting this morning. The stock is looking to break out to all time highs, but I don’t like the amount of insider selling in this company.
- Fording Canadian Coal (FDG): the company will report this morning around 10AM EST.
- Skywest (SKYW): reported results this morning in line with estimates. Quarter over quarter earnings growth reported at 24%, revenue growth at 44%. The stock has been basing for 2 years.
Another very busy week for earnings next week – stay tuned!