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Weekly trade highlights from The EDGE Report

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This week: As Q3 earnings season winds down, we look at some final earnings plays –

Staples Inc. ($SPLS)

Before the open Wednesday, $SPLS announced earnings. S-Score was +3.588 in the Early EDGE report, and floated up to above +4 for the remainder of the session.

Meanwhile price gapped up on the open 2.6% to $13.10, before shooting up to a high of $14.14 in the first hour of trade. It then settled into a range between $13.80 and $14.00.

Medtronic Inc. ($MDT)

$MDT also released earnings Wednesday. The stock’s S-Score was at +3.751 in the EDGE, and stayed just below +4 for the rest of the day.

Price opened at $69.22, peaked at $72.74 and closed at $72.50, offering traders a nice one day gain.

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Weekly trade highlights from the EDGE report

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This week: As Q3 earnings season winds down, we look at some final earnings plays –

Meritor Inc. ($MTOR)

Before the open Wednesday, $MTOR announced earnings, surprising 118% to the upside on EPS. It debuted with a S-Score of +4.038 in the EDGE report, and stayed above +4 for the remainder of the session.

Meanwhile price gapped up on the open 7% to $13.15. It then started a steady climb to an intraday high just shy of $14. The following day, it topped out at $14.22.

We have noticed this phenomenon time and time again this earnings season where stocks have gapped on the news but continued to go in the direction the sentiment is supporting.

Seaworld Entertainment Inc. ($SEAS)

$SEAS also released earnings Wednesday, missing EPS estimates by 12c. The stock’s S-Score was at -4.145 in the Early EDGE, and stayed below -4 for the rest of the day.

Price opened down at $18.22 and despite a rally attempt in the first 15 mins of trade, it reversed sharply, bottoming out at $16.17.
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Social Market Analytics is now blogging!

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