Hi friends,
You know the feeling of cheering for your winning team only to have the star player face plant right at last minute?
Major indices got crushed this week. Just remember, market corrections are common so don't panic if you're rooted in fundamentally strong stocks. Friday's market close looked like the following (9/4/20):
Dow Jones Industrial Average: 28,133.31 -159.42 (-.56%)
S&P 500: 3,426.96 -28.10 (-.81%)
Nasdaq: 11,313.13 -144.97 (-1.27%)
Russell 2000: 1,535.30 -9.38 (-.61%)
Check out the following earnings for the next week (Week of 9/8/20-9/11/20):
9/10/2020:
ORCL
9/11/2020:
KR
Last week's pick for fundamental analysis was Broadcom (AVGO) and they bear earnings by $.16 (EPS). It only makes sense to look at Oracle (ORCL), another tech company which focuses more on cloud infrastructure and miscellaneous software solutions.
Last 4 earnings report:
2020 Q2: beat
2020 Q1: beat
2019 Q4: beat
2019 Q3: met
3-year EBITDA
May, 2020: Lower than previous
May, 2019: Lower than previous
May, 2018: Lower than previous
Technicals:
3-month: ~ +4.46%
1-year: ~ +3.72%
5-year: ~ +50.01%
Businesses who are good at cloud computing may have some resilience (or even strong profits) during these times. Although the market share is dominated by some of the more elite tech companies, Oracle has been around for some time and is worth keeping an eye on. Wanna trade covered calls on Oracle? See how at our Level 1 Courses!
Until next time!
- Call to Leap Team
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