ADM (Archer Daniels Midland Co.) reports earnings tomorrow. I will likely place a buystop at $39.75-40.10, depending on how the stock looks at the close today. If the stock clears this level (which is an intermediate term high and about a point away from where the stock is now), it will mean traders liked earnings and this level will probably become support.
5 comments:
ESRX pulling back nicely
looks good, although the large gap area makes it tough to get a handle on where to put the stop. Do you know what caused it to gap up? Earnings?
yeah earnings release the night before
Express Scripts reports 28% profit rise, lifts outlook
By Carolyn Pritchard, MarketWatch
Last Update: 6:26 PM ET Apr 23, 2007
SAN FRANCISCO (MarketWatch) -- Express Scripts Inc. late Monday reported a 28% rise in first-quarter profit, boosted by higher sales of generic drugs, and lifted its forecast for the full-year period.
The St. Louis-based pharmacy benefit manager (ESRX :
Express Scripts Inc Cl A
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Last: 95.65+0.08+0.08%
12:55pm 04/30/2007
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ESRX95.65, +0.08, +0.1% ) reported net earnings of $133.7 million, or 97 cents a share, for the most recent quarter, up from $104.7 million, or 70 cents a share, in the same quarter a year earlier. Excluding onetime items, the per-share profit stood at $1.04.
Revenue rose to $4.54 billion from $4.38 billion.
RKT is another earnings breakout to new highs on great vol followed by lower vol consolidation, etc
4th distro day today...
More econ news out tomorrow should be a fun ride.
MS
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