It was a busy week of earnings in the model portfolio names, as we closed out two positions, added to one and trimmed one other.
Here is what we're expecting to hear when the automotive name issues its second-quarter results before the open on Tuesday.
Ahead of their earnings reports, we are closing out our position in Ceva and reducing our holding in ServiceNow.
We will move on after some bad timing.
But it demonstrates its ability to outperform the market.
The miss was mostly attributable to weak gross margins due to a shift in the products and services mix and we will remain patient with the stock.
The stock will be punished today, but it is still a solid play.
We are not overly focused on near-term profit outlook.
We remain bullish as a diverse play on macroeconomic reacceleration.
The athletic outfitter reported strong second-quarter results this morning that far exceeded Wall Street's expectations.