Markets closed mixed yesterday and Futures are continuing this trend, with NASDAQ slightly up and the Dow slightly down. Bitcoin (BTC) is sitting around $22.9K. The market is waiting for Fed Chair Jerome Powell to raise the interest rate when he speaks around 12:40 EST. Another anticipated speaking event today includes the state of the union which will be presented by President Biden at 9:00 PM EST. Among other subjects, he is expected to announce his desire to quadruple tax on companies' stock buybacks.
Today's earnings include Chipotle (CMG), Roal Caribbean (RCL), DuPont (DD), and British Petroleum (BP) which reported record earnings.
Skyworks Solution (SWKS) receives an incredible 10 price target raises from analysts after announcing a $2 Billion dollar stock buyback after releasing an earnings miss and light guidance.
Chegg (CHGG) drops 22% after the earnings disaster that showed full-year revenue guidance below expectations. 2 Analysts lower their price targets.
Activision Blizzard (ATVI) topped revenue for the last quarter, Shares are up over 2%. I think this is the best name in gaming, even if the Microsoft merger doesn't take shape. Rival Take Two Entertainment (TTWO) receives a double price target decrease as the prospects are somewhat meek, I expect GTA 6 to turn the tables for the stock.
Pinterest (PINS) reports mixed earnings with revenue below expectations but EPS greater than expected. The stock receives 5 price increases.
Onsemi (ON) receives a slew of price target increases.
Happy Investing,
The Punkrock Capitalist
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