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Pulled from Benzinga Pro data these sector movers alert provides traders with a compiled way to read macro-level market trends. Investors garner a particular interest in sector movers to better determine sectors that are over- or under-performing to make better investing decisions on exchange-traded funds (ETFs) or individual tickers in those sectors.
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The U.S. firm reported market-beating quarterly results last week.
Roku shares are currently 30% down versus their February high.
Roku Inc. (NASDAQ: ROKU) published its quarterly earnings report last week that resulted in an 11.5% increase in the stock on Friday. Despite the surge, Craig Johnson of Piper Sandler says there’s still more juice left in the stock that is trading more than 30% down compared to its year-to-date high of £332 per share in early February.
Craig Johnson’s remarks on CNBC’s “Trading Nation”
Johnson said on CNBC’s “Trading Nation” on Monday:
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Roku in the first-quarter report posted its highest revenue growth rate since its 2017 IPO. Loop Capital Markets upgraded the stock to a buy with a $450 price target after the results, citing its impressive platform growth, increasing market share and the overall shift to digital streaming. There s no question the primary trend is still higher for Roku, Johnson, his firm s senior technical research analyst, said Friday on CNBC s Trading Nation. From my perspective, the stock has gotten oversold. It seems like a pretty good entry point and a pretty good upgrade here for Loop, he said, adding that the shares have fallen to their 200-day moving average.
Stock Market News for May 3, 2021 Zacks.com 3 hrs ago
Wall Street closed lower on Friday primarily due to profit booking by investors. Moreover, weaker-than-expected earnings results by some big companies also dented investors confidence. All the three major stock indexes ended in red. For the week as a whole, these indexes had mixed performances. However, these indexes performed impressively in April.
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How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) was down 0.5% or 185.51 points to close at 33,874.85. Notably, 21 components of the 30-stock blue-chip index ended in the red while 9 in green. The tech-heavy Nasdaq Composite finished at 13,962.68, tumbling 0.9% or 119.86 points due to weak performance by large-cap technology stocks.
A Communication Services ETF Jumps on Big Facebook Earnings April 29, 2021
Communication services exchange traded funds were among the standout performers on Thursday after Facebook (NasdaqGS: FB) crushed its quarterly earnings expectations.
Among the best performing non-leveraged ETFs of Thursday, the
Meanwhile, Facebook shares jumped 7.3% on Thursday. FB makes up 22.0% of XLC’s underlying portfolio.
Facebook revealed revenue of $26.17 billion for the quarter, up 48% year-over-year, CNBC reports. Additionally, the social media giant’s net income grew 94% to $9.5 billion, from $4.9 billion a year prior.
“Facebook seems to be in a sweet spot where it is growing revenue at record cadence while keeping ad load relatively in check (evidenced by the 12% impression growth vs. DAU 8% Y/Y),” Barclays analyst Ross Sandler told MarketWatch. “Nascent product areas like commerce, paid messaging and the creator tools provide bulls with new upside scenarios.”