Factset data shows over the prior 8 quarters, that the typical post-earnings beat reaction is that the stock in question rises 1% on average that day. During this quarter, the average reaction has been a drop of 1.5%.
I think this presents some great opportunities.
Last week I discussed how GrubHub was good buy near $87 per share and is now some $8 higher at $95.
Here are 3 more names that could be scooped up cheap in the wake of unwarranted post earnings declines.
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Yesterday MKM Partners analyst Bill Kirk initiated coverage of Hexo Corp. (HEXO) with a "buy" rating.
We need to consider just how bad things would get for the S&P (SPY) if the China deal fell apart. Yes, other indices would likely take it even harder. Let's review how this would likely unfold and our trading strategies.
Led by ticker DNN, "Miners - Diversified" was our best performing stock industry of the day, with a 3.02% gain.
SSI leads the way today as the best performing small cap stock, closing up 34.58%.
SCS leads the way today as the best performing mid cap stock, closing up 9.86%.