Microsoft, Apple Supplier Skyworks, Intuitive Surgical, E-Trade Earnings Top

Dow Jones futures and S&P 500 futures edged higher late Thursday, while Nasdaq futures rose modestly amid a flurry of after-hours earnings reports. Microsoft (MSFT), the top-performing Dow Jones tech stock, topped views. So did IBD 50 stocks Intuitive Surgical (ISRG) and E-Trade Financial (ETFC). Apple iPhone chipmaker Skyworks Solutions (SWKS) reported strong earnings and guidance.


Skyworks Solutions, while not the biggest or best of these stocks, could be the most meaningful report. It bodes well for other iPhone chipmakers and the broader semiconductor sector, as well as Apple stock itself.

Dow Futures Today

Dow futures rose slightly vs. fair value. S&P 500 futures gained a fraction. Nasdaq 100 futures climbed 0.3%, with Microsoft stock, Intuitive Surgical stock and Skyworks stock all part of that big-cap index.

During Thursday’s stock market trading, the Dow Jones fell 0.5%, snapping a five-day streak of modest gains. The S&P 500 index and Nasdaq composite retreated 0.4%.

Microsoft Earnings Get Cloud Boost

Microsoft earnings rose 7% vs. a year earlier as revenue climbed 17%, both topping fiscal Q4 views. Cloud revenue continued to rise sharply. The Dow software giant also gave strong guidance for the current quarter.

Microsoft stock rose 3.3% late after closing down 0.7% at 104.40. Shares hit a record 106.50 on Tuesday. The stock is slightly extended from a 97.34 flat-base buy point.

Microsoft stock has risen 22% so far in 2018, just below Nike (NKE) and Visa (V) on the Dow Jones. Apple stock, the No. 2 Dow Jones tech this year, is up 13%.

Apple Chipmaker Skyworks Earnings, Outlook Strong

Skyworks earnings beat third-quarter forecasts, with the chipmaker also guiding Q4 estimates slightly higher. Skyworks also raised its quarterly dividend.

Skyworks stock rose 2.6% in late trade. The stock is just above its 200-day moving average within a consolidation. But therelative strength line, which tracks a stock’s performance vs. the S&P 500 index, has been sliding for the past 13 months.

Fellow Apple chipmakers Qorvo (QRVO) and Broadcom (AVGO) also advanced modestly in late trade.

Apple stock rose a sliver in late trade after closing up 0.8% at 191.88. Apple, which is benefiting from strong growth in high-margin services to offset sluggish iPhone sales, is just below a 194.30 buy point.

Meanwhile, the Philadelphia Semiconductor Index, or Philly Sox, is trading just below its 50-day moving average. Chips traditionally play a lead or supporting role in stock market rallies, but have been laggards in recent months.

Intuitive Surgical Earnings

The robot surgical systems maker reported a 20% revenue gain while Intuitive Surgical earnings jumped 38%, crushing views. Intuitive Surgical stock jumped 3.6% late, signaling a new high at Friday’s open.

E-Trade Earnings

E-Trade Financial earnings per share rose 83% vs. a year ago, topping views. But E-Trade stock was little changed after hours. Shares fell 3% during Thursday’s session, hitting resistance at the 50-day moving average. Rival online brokers Charles Schwab (SCHW) and Interactive Brokers (IBKR) reported earlier this week.


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Originally posted 2019-09-19 23:17:35.


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