NEW YORK ( TheStreet) -- In the wake of reporting quarterly results new data received by ValuEngine can result in upgrades or downgrades to the stocks I profiled pre-earnings. A stock can also have a ratings change if the directional volatility outruns its price target to the upside and triggers a downgrade, or falls far enough below its price target to merit an upgrade.
Amazon.com (AMZN) ($254.81 vs. $274.70 Friday) has been upgraded to hold from strong sell following its $19.89 price plunge Friday. The stock is still overvalued by 6.0% and is projected to slide another 4.3%, but since this is within a plus/minus 5.0% projection range the upgrade to hold occurred. My semiannual and annual value levels are $241.23 and $226.80 with a weekly pivot at $258.38 and quarterly risky level at $278.28.
Qualcomm (QCOM - Get Report) ($61.52) has been upgraded to buy from hold as the stock fell below its 200-day simple moving average at $65.66 last Thursday. The stock is 12.3% undervalued and is projected to gain 6.1% over the next 12 months. With this projection above 5.0% the stock merited the upgrade. My annual value level is $53.29 with a weekly pivot at $63.32 and quarterly and semiannual risky levels at $65.63 and $67.43. Last week's high was a test of the zone of risky levels.
(DD) ($52.90) has been downgraded to sell from hold after the
Dow component outran its valuations and forecast projections. The stock has become 7.2% overvalued and is projected to decline 6.0% over the next 12 months justifying the downgrade. My quarterly value level is $42.11 with a weekly pivot at $52.13 and semiannual risky level at $60.06.
Today I profile seven stocks that report quarterly results with the theme of getting a fresh read on big Pharma, healthcare providers and spending via credit cards.