|Bid||113.52 x 800|
|Ask||113.99 x 800|
|Day's Range||112.25 - 114.52|
|52 Week Range||83.69 - 143.70|
|Beta (3Y Monthly)||1.78|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 27, 2019 - Dec 2, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||150.02|
President and CEO of Splunk Inc (30-Year Financial, Insider Trades) Douglas Merritt (insider trades) sold 13,341 shares of SPLK on 09/12/2019 at an average price of $115.2 a share. Continue reading...
Leveraging its global reach and a team of employees committed to positive social change, the international effort for affordable housing is part of the market-leading data analytics company’s employee-driven Splunk for Good initiative. “In every corner of the world, partners like Splunk help Habitat homeowners achieve strength, stability and self-reliance through shelter,” said Julie Davis, vice president for corporate and cause marketing, Habitat for Humanity. With the help of more than 400 employees, Splunk zeroed in on the global communities in which they have local employees, including Atlanta, Chicago, Dallas, Denver, Hong Kong, London, San Francisco, Seattle, Shanghai, Singapore, Sydney, Tokyo and Vancouver.
As the number of connected devices is only surging, the amount of data being produced is on the rise. Big data companies want to use the massive volume of information to help enterprises gain actionable insights so that they can make more strategic business decisions. Big data refers to massive data sets that are too large or complex to be dealt with using traditional data-processing software. With Verified Market Research stating that the global big data market is expected to increase from $28.95 billion in 2016 to reach $135.22 billion by 2025, it’s no wonder investors are constantly searching for compelling opportunities within this space. That being said, analysts say that some big data stocks are better positioned for long-term growth than others. Thanks to the TipRanks Stock Screener, we were able to narrow in on 3 big data stocks that are backed by Wall Street analysts. Let’s dive in. Alphabet Inc. (GOOGL)Google has made a name for itself as more than just a search engine. With shares up 15% year-to-date, analysts believe that the tech giant could see even more gains thanks to its big data and analytics product offerings.The company’s latest free open-source software tools, released on September 5, focus on differential privacy or the idea of setting a limit on how much you can learn about specific groups of people in big data sets. “The aim of this is to provide a library of primary algorithms that you could build any type of differential privacy solution on top of,” engineering manager Bryant Gipson said.Adding to its big data product lineup, the company also recently unveiled its Cloud Storage Connector specifically designed for Hadoop big data workloads. Hadoop describes the collection of open-source tools that enable a cluster of computers to solve problems involving large quantities of data. Management believes that its product will not only cut costs but will also increase efficiency when compared to a traditional Hadoop Distributed File System (HDFS). GOOGL’s existing big data analytics products, including the data warehouse BigQuery and real-time data processing service Cloud Dataflow, are already hits among customers. Based on its July 25 Q2 earnings release, the Google Cloud segment reached an annual revenue run rate, the measure of how much revenue the business will generate in the next year assuming there aren’t any significant changes, of more than $8 billion. It hopes to further grow Cloud revenue with its $2.6 billion acquisition of data analytics company Looker, which was announced in June. While GOOGL shares are up year-to-date, Jefferies analyst Brent Thill argues that shares are trading at more than 30% discount to value. As a result, the five-star analyst reiterated his Buy rating and $1,500 price target on September 5. He believes shares could surge 24% over the next twelve months.All in all, the Street is on the same page. 28 Buy ratings vs 4 Holds received in the last three months add up to a ‘Strong Buy’ analyst consensus. Its $1,404 average price target implies 17% upside potential. Cloudera Inc. (CLDR) Cloudera provides enterprises with a scalable, flexible and integrated platform that simplifies the process of managing huge amounts of data. While shares are down 52% since its 2017 IPO, some analysts believe the renewed strength of its big data products will put CLDR back on an upward trajectory.The company was able to post $196.7 million in revenue for Q2 fiscal 2020, which surpassed management’s guidance of $180 million to $183 million. Management attributed this beat to improved subscription and services performance. While expenses did increase from the year-ago quarter, it takes into account its 2018 merger with cloud-based big data management company Hortonworks.As a result of this merger, CLDR was able to develop the new Cloud Data Platform. The product is a hybrid-cloud data analytics platform and features its own on-premises data center software as well as Hortonworks’ technologies. Not to mention Cloudera announced the acquisition of cloud-native and AI-driven analytics company Arcadia Data on September 4. The company expects both the acquisition and the Cloud Data Platform to put CLDR back on track to reach its 20% annualized recurring revenue growth goal. It is also interesting to note that notorious investor Carl Icahn’s 12.6% stake in the company was revealed last month. More recently, Icahn purchased over $2 million worth of Cloudera shares on September 9. JMP Securities analyst Patrick Walravens has also just gotten on board. “We see a number of potential catalysts for Cloudera… most importantly, the phased rollout of the new Cloudera Data Platform, the first milestone of which was achieved last week when the public cloud edition was made available to select customers; this should allow Cloudera to begin to participate in the white-hot market for cloud databases, which Gartner estimates reached $10.5B in 2018, up a staggering 87% year-over-year,” he explained. Based on this, the five-star analyst upgraded the rating to a Buy and set a $12 price target on September 5. He sees 37% upside potential for the big data company. In general, Wall Street is cautiously optimistic about CLDR. It has a ‘Moderate Buy’ analyst consensus and a $10 average price target, indicating 13% upside potential. Splunk Inc. (SPLK)It’s no question that the last big data stock on our list has taken a beating recently, with shares down 15% in the last month. That being said, some analysts are telling investors to buy the dip for SPLNK’s substantial upside potential.Based on the company’s August 21 second quarter earnings release, things are already turning around. Splunk posted an earnings and revenue beat as well as raised its full year guidance thanks to the strength of its cloud business. Management stated that it expects virtually all new software sales to be cloud or term license-based by the end of the year. The company is making a significant investment in expanding its cloud-based product offerings with its acquisition of SignalFx. The acquisition of the cloud-based software company will cost SPLK about $1 billion and will allow the company to offer a flexible and secure way to process large volumes of data. “Data fuels the modern business, and the acquisition of SignalFx squarely puts Splunk in position as a leader in monitoring and observability at massive scale,” said CEO Doug Merritt. This is on top of the unified big data analytics solution it already offers that includes analytics for Hadoop, an ODBC driver to enable connectivity between Splunk and other third-party analytics tools as well as integration with traditional relational databases. All of this lends itself to Rosenblatt Securities analyst Yun Kim’s conclusion that the dip presents a unique buying opportunity. With that in mind, the five-star analyst initiated coverage with a Buy and set a $150 price target on September 9. The price target reflects his confidence in SPLK’s 37% upside potential. Wall Street appears to mirror the analyst’s sentiment. SPLK boasts a ‘Strong Buy’ analyst consensus as well as a $154 average price target, suggesting 41% upside from the current share price. Find analysts’ favorite stocks with the Top Analysts’ Stocks tool
Big data is changing the business landscape in which firms are competing, making it a necessity to not only have real-time data transparency but be able to analyze massive data sets to understand your business and your customers.
San Francisco-based Splunk is rapidly beefing up its presence to play in their customers’ shift toward using cloud-based microservices.
High-growth tech stocks can generate exponential returns. However, they have a high beta and can underperform markets by a huge margin in a downturn.
Trading volume in the cloud analytics company's shares has increased on their recent decline, suggesting that sellers are anxious to reduce positions.
Splunk Inc. (NASDAQ:SPLK) shareholders might be concerned after seeing the share price drop 20% in the last month. But...
Identity access management leader Okta (NASDAQ:OKTA) is set to report second quarter numbers after the bell on Wednesday, Aug. 28, and I'm optimistic on OKTA stock ahead of that print.Source: Shutterstock My optimism is rooted in four things. First, Okta's earnings history is stellar. Second, the numbers this quarter look very beatable. Third, peer cloud companies have reported strong numbers over the past month.Fourth, and most importantly, the secular growth narrative underlying OKTA stock is so robust and wide-reaching that, even if the stock sells off in response to Q2 numbers, that sell-off will be temporary. In the big picture, it will be nothing more than an opportunity buy into a long-term winner at a discount.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs such, I like OKTA stock ahead of earnings. In all likelihood, the company reports strong numbers, and the stock flies higher. In the event that doesn't happen, I'm perfectly comfortable buying the dip, given the strength of this company's secular growth narrative. Either way, I see Okta stock as one for the long run. Stellar Earnings HistoryLet's have a look at the Okta Inc stock stellar earnings history. Indeed, the company's track record is flawless. * 10 Stocks Under $5 to Buy for Fall Okta's first public earnings report was back in June 2017. It was a double beat report, topping Street estimates on both revenue and earnings. Ever since, Okta has racked up nine consecutive double-beats. Not surprisingly, OKTA stock has performed very well during this stretch. Since that first earnings report, the shares are up more than 430%.Coming into tomorrow's earnings report, history is on the bulls' side ahead of the Q2 print. The Numbers Look BeatableThe second big reason to buy OKTA stock ahead of earnings is that the Street numbers look very beatable.In every quarter since going public, Okta has reported revenue growth of 50% or better. That is nine quarters of 50%-plus revenue growth. The Street is looking for less than 40% revenue growth this quarter. Against the backdrop of those nine straight quarters of 50%-plus revenue growth, a sub-40% revenue growth estimate this quarter seems very beatable.To be sure, part of this slowdown is because management guided for it in the last earnings report. But, management has a history of under-promising and over-delivering. That seems especially true this time around, with revenue growth estimates slated at multi-quarter lows.As such, it seems highly likely that -- at the very least -- Okta tops revenue estimates in its Q2 print. Peer Results Have Been StrongThe third reason to buy OKTA stock ahead of Wednesday's earnings is that peer cloud companies have reported strong numbers over the past month, in sum supporting that the secular enterprise cloud transition remains as vigorous as ever.Specifically, over the past month, cloud companies Salesforce (NYSE:CRM), Splunk (NASDAQ:SPLK), ServiceNow (NYSE:NOW), and Twilio (NASDAQ:TWLO) all reported double-beat-and-raise earnings reports. At the same time, hybrid cloud companies Akamai (NASDAQ:AKAM) and Intuit (NASDAQ:INTU) both reported double-beats in the past month, and both cited cloud strength in their earnings report.Also of note, cloud infrastructure giants Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) both reported double-beat quarters recently, with cloud strength at the epicenter of both beats.Net net, the takeaway is that the secular enterprise cloud transition remains as vigorous as ever, despite slowing economic growth around the world. Okta makes its living off this transition. As such, so long as it remains vigorous, Okta's numbers should remain favorable. Secular Growth Narrative is RobustThe fourth big reason to buy OKTA stock ahead of earnings is that the secular growth narrative here is so good that any post-earnings sell-off will likely be nothing more than a buying opportunity.Okta has created an innovative solution at the convergence of the cloud and cybersecurity worlds. Specifically, the company has developed what management calls the Identity Cloud, which is an identity-based cloud security solution which enables customers and employees alike to securely log into multiple applications using just one log-in. This solution is high adaptive, highly secure, and very convenient for enterprises -- which are sometimes adopting several new software systems every month. * 10 Undervalued Stocks With Breakout Potential Because of these advantages, Okta's Identity Cloud solution has gained significant traction in the cloud security world over the past several years. It will continue to gain traction over the next several years, too. At the same time, the whole cloud security solution market will expand dramatically, driven by more enterprise workloads migrating to the cloud and enterprises spending more money to protect and secure those workloads.As such, Okta projects as a market share gainer in a secular growth industry for the next several. That implies big revenue growth for a lot longer. Gross margins are north of 70%. Opex rates will fall with scale. Over the next few years, Okta projects as a big time profit grower -- and all that profit growth should propel OTKA stock meaningfully higher. Bottom Line on OKTA StockOkta should report strong second quarter numbers after the bell on Wednesday. Those better-than-expected numbers should be good enough to spark a nice post-earnings rally in OKTA stock.But, even if that doesn't happen, any post-earnings sell-off in OKTA stock will most likely just be a buying opportunity, since the secular growth narrative here implies that OTKA stock is a long-term winner.As of this writing, Luke Lango was long OKTA, SPLK, and GOOG. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 "Boring" Stocks With Exciting Prospects * 15 Cybersecurity Stocks to Watch as the Industry Heats Up * 5 Healthcare Stocks to Buy for Healthy Dividends The post 4 Reasons to Like Okta Stock Ahead Of Tomorrow's Earnings Report appeared first on InvestorPlace.
We're looking at the biggest stock movements on August 26. Roku (ROKU), Beyond Meat (BYND), Splunk (SPLK), and Cree (CREE) were the big market movers.
Shares of big-data analytics company Splunk (NASDAQ:SPLK) have been red-hot for a long time, and with good reason. This company is at the heart of the Big Data Economy, developing solutions which help enterprises turn their abundant data into actionable insights.Source: Michael Vi / Shutterstock.com The Big Data Economy has mushroomed rapidly over the past several years, and as it has, more and more enterprises have turned to Splunk to help them succeed in this economy.As all that has happened, Splunk's revenues have surged higher, jumping 300% from 2015 to 2019, as have its profits ( its operating profits are up nearly 2,000% over that same stretch). This robust revenue and profit growth has translated into huge gains for SPLK stock. Over the past five years, Splunk stock has surged about 175%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn other words, Splunk stock has been a long-term winner. * 5 Stocks That Could Pop When the Trade War Ends But this long-term winner hit a road bump recently. Splunk reported beat-and-raise second-quarter numbers recently that, ostensibly, were pretty good. But they weren't clean beat-and-raise results. Specifically, SPLK announced a sizable acquisition that will be partially funded through Splunk stock, so investors were concerned about that dilution. Also, SPLK cut its cash-flow guidance as the company's pivot into a subscription-based business is creating a near-term drag on its cash flows.Investors weren't too pleased about the Q2 numbers. Splunk stock dropped sharply in response to the results and presently trades 15% below its recent highs.At these levels, SPLK, a continuous-growth company, is a great stock to buy. Here's why. The Fundamentals Remain FavorableThe first main reason SPLK is a great stock to buy on weakness is because Splunk stock remains supported by highly favorable, long-term growth fundamentals.In order to understand the long-term bull thesis on SPLK stock, it's first necessary to understand just how large the Data Economy will become. For all intents and purposes, data is the most valuable asset in the world. With data, companies can do a great number of things, including improve customer conversion rates, target new demographics, and create new and better products.The world is awash in data, and the volume of data is growing exponentially as more and more consumers leave bigger and bigger digital footprints. Thus, companies everywhere have a ton of data at their finger tips. But turning that data into actionable insights is a tall order.Splunk helps companies turn all this raw and messy machine data into clear and actionable insights. Companies don't just want to do that. They need to do that because if their competitors are gaining more and better insights from data, then they'll lose customers. It's that simple.Thus, competitive dynamics ensure that pretty much every company is going to start doing everything they can to gather, analyze, and interpret data.Does that mean every company in the world will become a customer of SPLK one day? No. There are many big-data solutions, and Splunk is just one of them. But Splunk arguably has the best data-analysis solution, so as the Data Economy grows over the next several years, so will Splunk. And as that happens, Splunk stock will climb, making Splunk a good stock to buy.I think Splunk's top line will climb 20%-plus annually for a long time. Moreover, its gross margins should reach nearly 90%, and its operating-expenditure rate should naturally fall as its revenue increases rapidly. The end result of that is huge profits and a materially higher Splunk stock price in the long-run. Splunk Stock Looks GoodThe second reason Splunk stock is a good name to buy is that it is appealing to investors in the current macro environment. That characteristic will help boost Splunk stock for the foreseeable future.In the current high-risk, low-yield world, investors can get good returns from growth stocks supported by non-cyclical tailwinds which won't be interrupted by a trade war or a slowing economy. SPLK is in that category.As a result, investors will continue to be attracted to Splunk stock as long as the current macro trends persist. That continued attraction should keep SPLK stock on a healthy uptrend for the foreseeable future. The Technicals of SPLK Stock Look GoodThe third reason Splunk stock is a good name to buy is that - despite its recent decline - the stock is still supported by favorable technicals which imply that its recent weakness is a natural hiccup in an otherwise strong uptrend. Click to EnlargeAs you can see from the adjacent chart, Splunk stock put in a bottom in late 2018. Ever since then, SPLK stock has been on a steady and healthy uptrend, enabling the shares to form a strong support line.SPLK stock has tested and held that support line three times before. Each time, the Relative Strength Index on SPLK stock was plunging into oversold territory. And each time, SPLK stock proceeded to bounce sharply over the subsequent weeks and months. Consequently, the shares maintained their multi-quarter uptrend.Right now, SPLK stock is testing that support line, with the RSI plunging towards oversold territory. It looks like the stock wants to hold this support line yet again. If it does, that is confirmation that Splunk stock remains on a healthy, multi-quarter uptrend which should persist for the foreseeable future. The Bottom Line on SPLK StockSplunk stock is a long-term winner, supported by non-cyclical tailwinds in the Data Economy. The near- term weakness of Splunk stock is an opportunity to buy shares of this long-term winner. Its fundamentals remain favorable and it looks strong, creating robust investor demand. And the technicals of SPLK stock indicate the shares will rebound over the next few months.As a result, I'm buying SPLK stock. The shares can rise in the near-term and over the long-term.As of this writing, Luke Lango was long SPLK. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post 3 Reasons to Buy Splunk Stock on Weakness appeared first on InvestorPlace.
The Dow Jones fell for a fourth week as the China trade war escalates, despite a dovish Fed chief Powell. Target, Home Depot, Salesforce rose on earnings.
Stocks were back and forth, in the red and in the black, for the better part of Thursday's action. When push came to shove as the closing bell approached though, neither side of the table was doing much shoving. The S&P 500 closed a mere 0.05% lower yesterday.Source: Shutterstock It wasn't because some names didn't do their part. Boeing (NYSE:BA) rallied more than 4% after announcing it had won a respectable contract from the Department of Defense to upgrade wings on the more than a hundred A-10 attack aircraft. But, investors may have been further encouraged by word that the aircraft maker was planning on ramping up output of the beleaguered 737 MAX. That news suggests customers believe the passenger jet can be made safe.There were just too many names like Splunk (NASDAQ:SPLK) holding the market down. Shares of the software company fell nearly 8% despite a solid quarterly report, as Splunk also announced an acquisition investors aren't entirely convinced is a great idea for the $1 billion it's paying for the deal.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Own Through a Global Recession Neither are great prospects headed into Friday's trading, however. Rather, stock charts of Nvidia (NASDAQ:NVDA), Albemarle (NYSE:ALB) and HP (NYSE:HPQ) have earned closer looks. Here are those looks. HP (HPQ)HP shares have been all over the map since late last year, and weren't exactly a picture of stability for the better part of the past three years. The selloff since October, however, has not only been bearish, but well framed by clear support and resistance levels.The bad news is, that trading range is steering HPQ stock lower, and there's more downside to go before the floor is bumped into again. Perhaps worse, the bearish momentum is starting to build in a way that portends lower lows are imminent. * Click to EnlargeAlthough choppy, HP has framed a bearish channel, marked with yellow dashed lines on both stock charts. HPQ stock is moving towards that floor, but remains nearly two points above it right now. * It's not yet consistent, but the volume behind several of the most recent selloffs has been above average. * With no other framework in sight that could serve as a landing spot now; the next most likely technical floor is the Fibonacci retracement line at $15.85. Nvidia (NVDA)Nvidia was one of the hardest-hit names last year, sent lower in step with the broad market's weakness, which was exacerbated by a meltdown of the crypto-mining industry.NVDA stock has been working on a recovery since late last year though. It has not been able to form one just yet, but it continues to try. The end result is a well-made set of support and resistance lines. Better still, Nvidia stock is close to punching through the upper boundary. * 7 Internet of Things Stocks to Buy Now * Click to EnlargeThe support and resistance lines in question are marked as blue line on both stock charts. The upper boundary is being tested again this week. * Although not yet above straight-line support, this week NVDA stock has pushed its way back above the gray 100-day moving average line and the white 200-day line. * It has not yet firmed up, but there's above-average bullish volume materializing here and it has been enough to let the weekly chart's Chaikin line move back above the zero level. Albemarle (ALB)Finally, Albemarle has been in something of a nosedive since early last year. Although it has seen the occasional rebound effort, each one of them has been met by a move to lower lows.There has been a method to the madness, however. Each lower low and each lower high has contributed to the establishment of a well-defined, falling trading range. The current trajectory is clearly downward, but that doesn't necessarily mean ALB has to stay on the path. It does, however, suggest there's room for a little more downside before traders have to make a decision. * Click to EnlargeIt's plotted on both stock charts, with dashed blue lines. Either way, it's clear Albemarle shares are being squeezed into the tip of a narrowing wedge pattern that will force a decision. * Although the descending wedge is currently bearish, and the gray 100-day moving average line is now resistance, the whole move could fuel an explosive move higher if the upper boundary can be snapped. * And although the converging support and resistance could be building up a major breakout move, for the time being, ALB stock looks like it's aiming to test the lower boundary around $60, marked with a yellow arrow.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post 3 Big Stock Charts for Friday: HP, Nvidia and Albemarle appeared first on InvestorPlace.
Wednesday's bullishness faded on Thursday, with investors mostly spooked by this month's manufacturing activity. IHS Markit says the purchasing manager's index fell below the 50 level last month, for the first time since September 2009. The data jibes with a weak new orders figure.Investors were also conflicted about comments made by German Chancellor Angela Merkel, who suggested there may be a way to facilitate a no-deal Brexit by the Oct. 31 deadline. That news sent the British pound soaring, after sliding lower for months on fears that the United Kingdom's exit from the European Union would be abrupt, causing a ripple effect across the continent.Also holding the market back is lingering concern over last week's inversion of the yield curve.InvestorPlace - Stock Market News, Stock Advice & Trading TipsArturo Estrella, who first identified the connection between yield curve inversions and recessions, said in an interview that "It's impossible to be 100% sure about the future but I'd say the chances of a recession in the second half next year are pretty high."By the time the closing bell rang, the S&P 500 was lower by a 0.05%. The Dow Jones Industrial Average managed a 0.19% gain, and the NASDAQ Composite ended the day off by 0.36%. Top News in the Stock Market TodayOverstock (NASDAQ:OSTK) Chief Executive Officer Partick Byrne is stepping down from his post, effective immediately.Byrne, who founded Overstock 20 years ago, has spent the past several months focused on developing a blockchain-based venture. Last week, however, Byrne threw investors another curveball by saying he was involved in an investigation related to 2016 presidential election. He specifically referred to investigators as "Men in Black." Byrne also conceded he had been in a romantic relationship with Russian operative Maria Butina, who is now in prison for attempted crimes against the U.S. government. Byrne became too much of a liability. * 10 Undervalued Stocks With Breakout Potential Given its long-standing cadence of iPhone releases, investors were largely expecting Apple (NASDAQ:AAPL) to release its next iteration of the popular device in the coming month. Though still not official word from the company, Bloomberg's report adds credibility to the notion that Apple will indeed reveal three new iPhones in September. Two of them will be "Pro" models.It's a matter that's been brewing for some time, but will be coming to a head on Monday. That's when Johnson & Johnson (NYSE:JNJ) will most likely hear from an Oklahoma judge about its liability in the state's opioid epidemic. Oklahoma's attorney general argues that the drug company's sales practices fueled an addiction problem. The attorney general further argues that the problem ultimately claimed 6,000 lives and could cost the state as much as $17.5 billion to abate. Big MoversIt's still dealing with the fallout from its 737 debacle, but Boeing (NYSE:BA) at least caught a small break today on news that the U.S. Air Force has asked the company to upgrade the wings on more than 100 A-10 attack aircraft. The contract could be worth up to $1 billion.BA stock jumped more than 4% in response to the news. Although, some of that bullishness may have also been driven by hope on the 737 front. The company is reportedly planning to ramp up production beginning in February, suggesting airlines are starting to trust the fix being put in place now.Splunk (NASDAQ:SPLK), on the flipside, fell nearly 8% on Thursday despite a solid second quarter, weighed down by an acquisition that is proving less than popular.In its recently completed quarter, Splunk generated revenue of $516.6 million, up 33% year-over-year, driving a small improvement in profits. The software company, however, also announced it would be shelling out $1 billion to acquire cloud monitoring startup SignalFx. While the deal makes Splunk a more well-rounded organization, it's coming at a steep price.Keysight Technologies (NYSE:KEYS) soared over 12% today after last quarter's earnings beat inspired an upgrade. For its fiscal third quarter, Keysight reported record revenue of $1.09 billion, up 8%, and beating expectations of $1.05 billion. Earnings of $1.25 per share were much better than the expected $1.02, prodding Baird to upgrade KEYS stock to "Outperform."Baird analyst Richard Eastman explained "While we acknowledge trade-related impacts on the macro-economy remain risks, our concerns re: Huawei restrictions and related knock-on effects through the tech supply chain have turned out (thus far) to be less restraining to KEYS' growth (esp. in China, 2Q/3Q both +DD%) than our (and the tech industry's) initial calculation."As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks That Could See 100% Gains, If Not More * 11 Stocks Under $10 to Buy Now * 6 China Stocks to Buy on the Dip The post Stock Market Today: Boeing Takes Flight, Manufacturing Slumps appeared first on InvestorPlace.
Wall Street is trying to break a two week losing streak. And whether it is successful or not likely rests on Federal Reserve Chairman Powell speaking tomorrow. His words have recently moved markets violently. Regardless, the effects should be short term and eventually stocks will trade on their own merits. So we seek the top stock trades for Friday separately from the fed announcement.These are Splunk (NASDAQ:SPLK), Ford (NYSE:F), Ulta Beauty (NASDAQ:ULTA), Tesla (NASDAQ:TSLA), and Splunk (NASDAQ:SPLK) Top Stock Trades for Tomorrow No. 1: Splunk (SPLK)InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe experts on Wall Street got busy quickly with their opinions on Splunk stock Thursday morning. It caught at least two downgrades, but some will defend it. I usually ignore what analysts think as I find it best to do my own homework to form an honest thesis with no hidden agendas. * The 10 Best Marijuana Stocks to Buy Now SPLK stock is not cheap, but since it is a growth stock, that fact matters very little. In fact, they are supposed to spend a lot so they can grow a lot. The earnings report was strong as they clobbered expectations and raised guidance. They did announce a $1 billion acquisition so that could have scared a few opinions.I bet that the negative reaction down 10% is wrong. This is a dip that I'd buy. If I am long SPLK I don't give up on them now just because of a knee-jerk reaction to earnings headlines. SPLK stock will continue to prosper as they transition into the subscription business model.So far, management with the leadership of CEO Doug Murray has performed well. There is no reason to start assuming this will change. SPLK stock came into the earnings up more than the S&P 500 so it's not a slouch. This time, traders are acting incorrectly and investors need to step into it on the dip. Top Stock Trades for Tomorrow No. 2: Ford (F)Ford seems to be in disarray. While this statement may be too harsh, this is the impression I get from watching the pain in F stock. Fundamentally, it can get cheaper because it still sells at a premium to General Motors (NYSE:GM). Not that GM is in much better strategical shape. It is interesting to note that F stock is outperforming GM this year but that's not the case longer term.Nevertheless, I bet there will be a big move in F stock. This is in spite of its Thursday headline against President Donald Trump over the California legislation.The opportunity in Ford stock comes from its high yield. Rarely does Wall Street allow for a high-profile company to deliver 6.6% yield. So either Ford will need to cut the dividend or the stock price has to rise. So this is a position I would hold for the long term in any case, but this dividend situation could render F a short-term win. Top Stock Trades for Tomorrow No. 3: Tesla (TSLA)Thursday morning rumors were that Volkswagen had interest in buying a stake in TSLA. The stock spiked 3% on the headline. These were vague notions with nothing specific so not likely true. But this is still a trading opportunity. The fact that the buyout subject is in the news places a bid below the stock. This makes it harder to short it, which gives TSLA stock bulls a temporary advantage.For those traders with a strong stomach they can buy TSLA stock and hope for the best. I am not that brave so I would prefer to use options to trade it. For example I can sell the March 2020 $135 put and collect about $8 to open. I don't even need a rally to win. In fact, the stock can fall almost 40% from here and I would still have gains. IF TSLA stock falls below that then I break even at $128 and accrue losses from thereon down.I only sell naked puts when I can own the shares, else I would use sell put spreads instead. My logic is simple; the company has great potential but TSLA stock has been crippled by Elon Musk shenanigans. So if the stock falls low enough, it gets cheap enough that someone will buy it. Then Thursday's rumors would then be more credible. Top Stock Trades for Tomorrow No. 4: Ulta (ULTA)UTLA stock has been on my watchlist all week. It showed a good potential setup going into earnings. This is a great retail success story when the most of the sector is still reeling from the Amazon (NASDAQ:AMZN) effect.ULTA still carries advantages over typical retail in the sense that they control their inventory and have a loyal clientele. Also since the pool of retail success stories is shallow, this places demand on the successful ones like ULTA stock, Walmart (NYSE:WMT) and Nike (NYSE:NKE).Technically, I like the chart setup. ULTA stock bulls have already pushed above $332. If they can go above $335 then the upside target should be closer to $350 per share. There will be resistance especially at $348.50 so it won't be easy. Earnings are coming soon so it could provide the burst necessary to do it. This is a stock I can hold into this breakout especially if my time frame not strictly short term. There is a bearish scenario that could occur short term but I bet that the ULTA stock fans will defend it. Top Stock Trades for Tomorrow No. 5: Dick's (DKS)DKS reported a strong earnings report on Thursday. They beat metrics and raise guidance. Experts called it a breakout quarter. Indeed, the DKS stock spiked 13% on the headline. This is not a run to chase just yet. In spite of what the meme says, markets do have memory.Coincidentally, the DKS stock spiked to $38 which is inside a prior failure zone. Usually these are resistance at least on the first pass. The bulls rarely are able to slice through pivot zones like butter. They need more than one attempt to rise above. This is not the same as saying short DKS stock. Caution is warranted here. * 10 Marijuana Stocks That Could See 100% Gains, If Not More In this case, DKS stock failed at exactly a level it has failed at at least five times this year. Each time was followed by more red. So in spite of the optimism from the report, the stock price action is questionable from here. Onus is on the bulls to prove that this time they can consolidate well and push past $38 then $39.20 per share. Until then I wait for confirmation that floor levels below are solid enough and that the neckline above is breakable.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks That Could See 100% Gains, If Not More * 11 Stocks Under $10 to Buy Now * 6 China Stocks to Buy on the Dip The post 5 Top Stock Trades for Friday: SPLK, F, ULTA, TSLA, DKS appeared first on InvestorPlace.
Pure Storage shares have risen more than 15% today. The company announced its second-quarter results after the markets closed on Wednesday.