Markets inched up on Tuesday, continuing to push record highs on multiple indexes.
Today, our top performing news events focused on short plays.
Our system continues to identify profitable trading opportunities in every market environment.
Bed Bath Beyond fell sharply on Tuesday after release of FY17 2Q earnings results. Revenues came in well below analyst expectations. The American furniture maker’s revenues were down 1.7% from the same quarter last year.
Investors continue to jump on earnings news, seeking to validate current-prices and punish cash flow laggards. Investors hurried out of BBBY on the news, with the stock falling over 14% at the time of this writing.
Ocean Rig is an international offshore drilling contractor, specializing in the ultra-deepwater and harsh-environment segment of the market.
ORIG’s board announced an eye-raising 1-9,200 stock split, which sent shares plummeting downward. Their 35% loss was our most rapid fall of the week, as raw material stocks continue to be volatile, featuring prominently in our top long and short lists, with high sensitivity to earnings news.
Analogic fell nearly 2% on Tuesday, suggesting remaining potential downside over the next 30 days. Revenue continued growing for ALOG, but negative overall operating margins persisted. Management has begun considering “full options” for maximizing shareholder value on the struggling stock, including a sale.
The stock fell despite the announcement of a dividend plan alongside the financials. But investors seem to see the dividend as a desperation measure by a firm with a lagging growth plan and cash-losing operations.
Diverse Plays, Great Profits: All in a single news day.
A powerful news analytics platform like NewsQuantified not only makes it easy to track the news, but to quickly compare news events with key financial information.
Today’s plays make the power of this news-based trading approach clear. No small investor could be expected to track all these companies, diverse across industry, market cap, and valuation.
Yet they were all at the top of a single easy to use dashboard in the NewsQuantified platform. We make it simple to find strong, diverse plays in any market environment. Though today's top performers focused on shorts, we find dozens of long and short news plays every single day.
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