- US indices launched today's cash trading higher
- Baker Hughes (BKR.US) stock plunges on weak quarterly results
- Tesla (TSLA.US) to report Q2 2022 earnings after closing bell
US indices launched today’s session in mixed moods as investors digested another set of quarterly results from Netflix, Baker Hughes, Biogen and Russia warnings, which intends to expand military operations to other regions in Ukraine. In the evening traders attention will focus on Tesla earnings and the call with analysts should provide insights how Tesla is managing recent macroeconomic headwinds and development of its Supercharger network and its Autopilot software. On the data front, mortgage applications plunged 6.3% in the week ended July 15th, a third consecutive drop and hitting the lowest in over two decades.
US500 broke above major resistance at 3885 pts on Tuesday and as long as price sits above, upward move may accelerate towards next resistance at 4190 pts. On the other hand, if sellers regain control, the nearest key support to watch lies at 3800 pts. Source: xStation5
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Baker Hughes (BKR.US) stock tumbled over 6.0% in premarket after the oilfield services company posted weak financial results for second-quarter. Company earned 11 cents per share, well below market estimates of 22 cents per share. Revenue of $5.05 billion also fell below estimates of $5.37 billion, partially due to component shortages and supply chain inflation.
Baker Hughes (BKR.US) stock rose sharply on Tuesday however buyers failed to break above major resistance at $28.00, which coincides with 38.2% Fibonacci retracement of the upward wave started in March 2020. Stock launched today's session lower, following disappointing quarterly results and may be heading towards support at $24.50. Source: xStation5
Biogen (BIIB.US) shares dropped over 1% despite upbeat quarterly earnings which were boosted by a roughly $1.5 billion gain from the sale of its equity stake in the Samsung-Bioepis Joint Venture.
Netflix (NFLX.US) stock jumped 7.0% before the opening bell despite mixed quarterly results. Streaming giant expects that customer growth will return during the third quarter, as subscriber losses were substantially below expectations.
Merck (MRK.US) shares fell 1.5% in premarket trading after its Keytruda cancer drug failed to meet its goal in a late-stage study focused on head and neck cancer patients.
