Dow Jones futures edged higher late Wednesday, along with S&P 500 futures and Nasdaq futures, after the stock market boomed on election results. Square (SQ), Take-Two Interactive (TTWO), Roku (ROKU), Qualcomm (QCOM), CyberArk Software (CYBR), Alarm.com (ALRM) and Wynn Resorts (WYNN) were notable stocks reporting earnings after the close.
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Square stock, Qualcomm stock, Roku stock, Wynn stock fell after hours. Take-Two stock, CyberArk stock and Alarm stock were winners, with CyberArk indicated at a new high. CyberArk Software and Alarm.com are members of the IBD 50 stock list.
Dow Jones Futures Today
Dow Jones futures rose nearly 0.2% vs. fair value. S&P 500 futures advanced 0.1%. Nasdaq 100 futures inched up. Remember that Dow futures and other overnight action don’t necessarily translate in actual trading in the next regular session.
Stock Market Hails Election Returns
The stock market tone continued to improve Wednesday. The Dow Jones and S&P 500 index shot up 2.1% while the Nasdaq composite gained 2.6%. The Dow Jones reclaimed its 50-day line while the S&P 500 index and Nasdaq composite moved back above their 200-day lines. More top stocks broke out or made powerful moves toward buy points.
It’s always a good idea to read The Big Picture after every stock market session. This is an especially important day to do so.
Square Earnings
Square earnings and revenue growth topped forecasts, but the mobile payments operator gave weak Q4 earnings guidance. Square stock fell 3.1% late. But shares closed up 7% to 82.69, just below their 50-day line.
Square stock boasts an IBD 50 Composite Rating of 96.
Roku Earnings
Roku earnings figures beat, with a smaller-than-expected per-share loss. Revenue growth topped views. Roku also appeared to give bullish guidance. But Roku stock tumbled 12% late. Shares of the streaming video platform and device maker had closed up 5.8% to 58.86 on Wednesday. Roku stock has been trading between its 50- and 200-day lines.
Wynn Earnings
Wynn earnings were roughly in line while revenue edged past views. But management warned of weakness in its key Macau market, specifically among high rollers, sending Wynn stock crashing 13%. Macau-exposed casino rivals Las Vegas Sands (LVS), Melco Entertainment (MLCO) and, to a lesser extent, MGM Resorts (MGM) also fell late.
Wynn stock has been in a downturn for the past six months, with Macau concerns mounting as China’s economy slows.
Qualcomm Earnings
Qualcomm earnings and sales beat analyst forecasts, but the wireless chip tech giant gave weak revenue guidance. In late trading, Qualcomm stock fell 4.45% after losing 0.7% in the regular session.
Take-Two Earnings
The maker of “Red Dead Redemption” and “Grand Theft Auto” video games delivered solid results late. Take-Two earnings and revenue both beat the consensus. Take-Two stock rose 2.5% late. That would put shares near their 50-day line, where they’ve hit resistance in recent sessions. Take-Two rose 1.7% Wednesday.
CyberArk Earnings
CyberArk earnings shot up 92%, their third straight quarter of accelerating growth. The cybersecurity firm, which specializes in protecting privileged accounts, gave bullish profit guidance. CyberArk stock shot up 15% to 82.75 late, which would best its 81.24 Oct. 1 peak.
CyberArk stock has been consolidating for several weeks but does not quite have a proper base.
Shares rose 5.7% to 71.70 Wednesday, just below their 50-day line.
CyberArk stock has a 98 Composite Rating.
Alarm Earnings
Alarm earnings rose 33%, beating views. The cloud security firm’s revenue rose 24%, also topping. Alarm stock soared 22% to 57.70 late, signaling a move above its 50-day and toward its Oct. 1 peak of 60.20. Shares closed up 3.3% to 47.25.
Alarm stock enjoys a 94 Composite Rating.
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