Stocks Higher; Nvidia And Other Stock Market News May 10, 2018

The stock market held modest gains in early morning trade, as the Dow Jones industrial average looked to extend its win streak to six trading sessions. Top stocks Booking Holdings (BKNG) and SolarEdge Technologies (SEDG) were sharply mixed amid their quarterly earnings results.


After the close, highflying growth stock Nvidia (NVDA) will announce its quarterly results in the stock market today.

All three major indexes — the Dow, S&P 500 and Nasdaq — rose about 0.4% each. The Dow and S&P 500 moved further above their recently reclaimed 50-day moving average lines, while the tech-heavy Nasdaq was trying to add to its four-day winning streak.

Among the Dow stocks, ExxonMobil (XOM) was one of the day’s early top performers with a near 1% gain. Shares are trying to regain their footing above the 200-day moving average line.

Among companies reporting earnings, IBD 50 member Booking Holdings posted strong Q1 results, but weak Q2 guidance sank the stock. Shares fell 5% and are dropping through their 50-day line. The stock is shaping a flat base with a 2,229.09 buy point.

Payment processor WorldPay (WP) announced better-than-expected Q1 results early Thursday, but the stock declined almost 4%. Shares are below the 83.94 double-bottom entry after a recent breakout. The buy zone tops out at 88.14.

Streaming video platform Roku (ROKU) jumped about 4% after posting solid Q1 results and guiding higher for the current quarter and full year. Despite Thursday’s advance, shares remain well off their old highs set in December 2017.

Late Wednesday, Costco (COST) reported strong monthly April sales gains at 13% higher year over year. Same store sales came in at 10.9% year over year, which were above consensus estimates. Notably, e-commerce sales accelerated to 43% in April. The stock is building a cup with handle with a 199.14 buy point. Shares edged lower.

Inside The IBD 50

Among leading growth stocks, SolarEdge Technologies advanced more than 3% after beating the Street’s Q1 estimates. Shares are rebounding from their 50-day line and nearing all-time highs.

Elsewhere, shares of Nvidia moved up 1% ahead of the graphics-chip maker’s earnings release after the close. The stock broke out above a double bottom’s 239.35 buy point Monday with a 4% gain. The stock is extended and at new highs. Analysts expect the company to earn $1.47 per share on revenue of $2.91 billion.


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Originally posted 2019-09-19 23:14:12.


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