6 Earnings Stocks to Trade for Gains
MINNEAPOLIS (Stockpickr) -- Stocks finally managed to break their losing streak last week. For the first time in six weeks, the major indices closed the week in positive territory -- barely. Investors remain skittish.
If you were looking for excitement and for stocks that moved big one way or another last week, companies reporting earnings were a good bet. Best Buy (BBY) offered up a strong report thanks to smartphone sales (mental note: watch stocks tied to smart phones when second-quarter earnings season begins). Shares jumped more than 7% on the news.
One of the biggest losers came late in the week. Winnebago (WGO) shares sank a massive 16% in one day after it reported earnings that missed expectations. The company made a tiny 4 cents per share profit in the company's third quarter, compared with expectations for 13 cents per share.
Related: 5 Stocks With Big Insider Buying
Trading earnings in advance of the news can be hugely profitable. The key is to get a good read on expected results and how the stock will move as a result. Beating or missing the Wall Street number can trigger big moves in a stock. Here's how to trade several stocks reporting earnings this week. |
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