Dow Jones Futures: Merck Stock, Five9 Stock, Cadence Design Stock, OneSpan Stock Are Notable Movers Late

Dow Jones futures fell slightly late Tuesday, along with S&P 500 futures and Nasdaq futures, after the current stock market rally cleared another milestone during the regular session. In late trading, Dow Jones drug giant Merck (MRK) reported Keytruda liver-cancer trial results, while software stocks Five9 (FIVN), Cadence Design Systems (CDNS) and OneSpan (OSPN) released earnings. Merck stock edged lower in late trading, near a buy point. Five9 stock, Cadence Design stock and OneSpan stock all rose strongly.


Dow Jones Futures Today

Dow Jones futures fell 0.1% vs. fair value. S&P 500 futures lost 0.1%. Nasdaq 100 futures retreated slightly. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Current Stock Market Rally

The major averages faded into the close, but the Dow Jones eked out a gain in Tuesday’s stock market. The S&P 500 index rose 0.15% and the Nasdaq composite 0.2%. The Nasdaq did move a bit further above its 200-day line. The tech-heavy index topped its short-term peak intraday on Dec. 3, just before the stock market correction hit overdrive. The current stock market rally has racked up eight straight weeks of gains for the Dow Jones and Nasdaq. After the major averages clear their December peaks, the market rally can set its sights on the all-time highs from late September or early October. Only then will we have some idea if the current stock market rally is the beginning of a new long-term bull market. But for now, it’s a tradable market rally.

Merck Stock Falls On Keytruda Liver-Cancer Study

Merck immunotherapy drug Keytruda failed a Phase 3 trial for a specific type of liver cancer. The Dow Jones drug giant is testing Keytruda, already approved for certain cancers, for a variety of others.

Merck stock fell 1.1% late. That’s not a big move, especially in after-hours trading. But Merck stock has been trading just below an 80.29 flat-base buy point. Shares rose to 80.13 intraday Tuesday before reversing lower to close down 0.7% at 79.24.

Five9 Earnings Sends Five9 Stock To New High

Five9 earnings surged 228% to 23 cents a share in the fourth quarter, while revenue grew 31% to $72.3 million. Analysts expected Five9 earnings of 14 cents per share on sales of $66.5 million. The maker of cloud-based consumer contact software guided Q1 EPS in line and revenue slightly higher.

Five9 stock rose 6.8% late, signaling a new high. Shares of the IBD 50 member are extended from a 49.60 buy point from a late-stage base. Five9 stock rose 0.1% to 54.31 in Tuesday’s session.

The relative strength line is at a record high. Five9 stock boasts a best-possible IBD Composite Rating of 99.

Cadence Design Earnings

Cadence Design earnings rose 33% to 52 cents a share in the fourth quarter, while sales increased 14% to $570 million. Analysts expected Cadence earnings of 48 cents on sales of $551 million, according to Zacks Investment Research. Cadence Design guided higher for Q1.

Cadence Design stock popped 8.9% late, indicating an all-time high. Shares of the chip-design software maker rose 0.1% to 52.64 Tuesday. Cadence Design stock is extended from a 47.50 buy point. Cadence Design has a 97 IBD Composite Rating.

OneSpan Earnings Surprise, OneSpan Stock Spikes

OneSpan earnings unexpectedly rose 21% to 17 cents a share. Analysts expected OneSpan earnings to fall to 7 cents. Revenue rose 19% to $64.8 million, the cybersecurity stock’s best top-line growth in more than four years. OneSpan expects revenue for the current year to rise to $229 million to $237 million. The $233 million midpoint is above the consensus for $230 million.

OneSpan stock shot up 27% to 21.25 in late trade. That signals a big move above the 200-day line to an eight-month high. OneSpan stock only recently broke a downtrend. Its potential buy point is 25.55, just above the June 2018 high. OneSpan stock rose 3.8% to 16.77 on Tuesday.

With OneSpan earnings spotty and the share price lagging, the stock has a lackluster 58 Composite Rating.


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Originally posted 2019-09-19 23:34:19.


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