The IBD 50’s Top 3 Stocks Make Big Moves Late As Apple Eyes $900 Billion: S&P 500 Futures | Stock News & Stock Market Analysis

S&P 500 index futures were little changed in late trading after Apple (AAPL) reported strong earnings and guided holiday revenue forecasts higher, pushing its market cap to around $900 billion after hours. Meanwhile, four IBD 50 stocks — including the top three of Universal Display (OLED), (STMP) and Arista Networks (ANET) — were active late following their own earnings reports.

XAutoplay: On | OffDuring the regular session, the major averages closed near session highs. The Dow industrials rose 0.35% while the S&P 500 index closed fractionally higher and the Nasdaq composite ended just below break-even — even with Facebook (FB) falling 2% and Tesla (TSLA) 7% following their third-quarter results. Facebook also is a member of the IBD 50.

S&P 500 index futures were just above break-even vs. fair value. So were Dow futures. But Nasdaq 100 futures rose 0.3%.


Apple’s fiscal fourth-quarter earnings rose 24% to $2.07, with sales climbing 12% to $52.6 billion, both beating analyst targets. Apple also gave bullish guidance, with the midpoint of its sales target slightly above Wall Street views. That bodes well for iPhone X sales, and thus production, with the high-end handset hitting stores on Friday.

For the latest quarter, Apple’s iPhone shipments exceeded expectations, services revenue continued to grow strongly and Greater China sales rose for the first time in seven quarters.

Apple shares rose 2.9% to 172.94 in late trading, which would be a new high and extended from a 160.97 buy point. Earlier in extended session, Apple briefly topped a $900 billion market cap, up from Thursday’s close of $868 billion.

Apple’s strong results and guidance lifted several iPhone chipmakers, with Broadcom (AVGO), Skyworks (SWKS) and Cirrus Logic (CRUS) rising late.

Universal Display

Universal Display, rated No. 1 in the IBD 50, earned 28 cents a share reversing a year-earlier loss of 3 cents. Revenue leapt 104% to $61.7 million. Both obliterated views for EPS of 9 cents and sales of $47 million.

The company sees full-year revenue of $310 million to $320 million vs. analyst views for $300 million. But given its Q3 beat, Universal Display is implying Q4 revenue roughly in line.

Universal Display supplies materials and technology for making organic light-emitting diode (OLED) displays and lighting. While Universal Display is not an Apple supplier, OLED screens are used in the iPhone X and other high-end handsets, so it’s often viewed as an iPhone play.

Universal Display rose 3.15% to 148.90 in late trading. That would push the stock back above a 145.40 buy point, initially cleared on Tuesday.

The provider of online postage services earned $2.68 a share excluding items, sprinting past views for $1.91. Revenue climbed 24% to $115.06 million, above views for $1.09. still sees full-year revenue at $435 million-$460 million, but raised its full-year EPS range to $9-$10 from $7.50-$8.50.

Yet crashed 8.6% in late trading to 202.30. That would be below a 212.75 buy point and its 50-day line, triggering a clear signal.

Arista Networks

The computing networking gear maker’s adjusted Q3 earnings nearly doubled to $1.62 a share while revenue soared 51% to $437.6 million. Both were well above Wall Street forecasts. Arista also gave bullish fourth-quarter revenue guidance.

Shares rose 6.5% to 193 in late trading, though that’s after tumbling 8.2% during the regular session.


Control4 (CTRL), which is in the IBD 50’s top 10, earned 35 cents a share, defying forecasts for a flat profit of 26 cents. Revenue grew 17% to $64.74 million, above views for $64 million.

Control4 sees Q4 profit of 33-37 cents a share, with revenue of $66.3 million to $68.3 million. Those are in line with views.

Control4 is a provider of professionally installed smart-home systems.

Shares climbed 3.1% to 28.50 in late trading. Control4 had closed down 2.7%, undercutting its 50-day moving average.


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Originally posted 2017-11-03 00:14:49.


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