Fresh off a week-long rally, stocks appear poised to deliver their first losing day of 2018. Strength from healthcare stocks and mega cap stocks like Boeing was insufficient to overcome lagging momentum in most sectors. The losses are broad-based, with every major US index down at the time of this writing.
The only clear impetus for the fall is a building sense that the Trump Administration may try to withdraw from the North American Free Trade Agreement.
We had a diverse basket of long and short plays on today’s session. Today we focus on TSRI, our Top Long Play for the day. Stocks from hot trends like blockchain, China, and pharmaceutical development have been dominating our Top Performer blog in recent weeks.
TSRI’s action on the day provides a useful reminder that new-based profits don’t have to come from trading high-profile trends. Smart trading on routine events like earnings announcements can net strong, consistent profits.
TSR, based in New York state, is a computer programming consulting firm. This morning they announced financial results for the quarter ending in November 2017.
Frontline growth numbers were strong, with revenue up 9.8% from the same quarter in 2016. TSR attributes these revenues to successful growth in its provision of IT teams for its clients. While gross profit margin ticked down slightly, net income was up due to falling administrative costs.
Investors remain earnings hungry in this highly valued market and piled into the stock on the news, driving it to gains over 30% at the time of this writing.
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