NEW YORK ( TheStreet) -- "And the Beat Goes On" was a huge hit for Sonny & Cher way back in 1967. This has to be the theme song for the Q4 2012 earnings season as "drums keep pounding a rhythm to the brain" as company after company beat earnings expectations.
On Jan. 7 I kicked off my analysis of the Q4 earnings in
After the close on Jan. 8, Alcoa Inc (AA) ($9.26) matched expectations earning 6 cents per share and the stock gapped higher to $9.33 the next morning on positive guidance, then dipped to and held its 200-day simple moving average on Jan. 16, now at $8.82. The stock maintained a hold rating and rebounded to $9.20 yesterday.
After the close on Jan. 9, Constellation Brands (STZ) ($36.75) reported an earnings beat of 8 cents a share earning 63 cents per share. The stock gapped higher that morning, but the stock drifted lower to $34.46 on Jan. 14 before setting a new all time high at $38.99 on Jan. 17. The stock has maintained its buy rating with a weekly pivot at $37.47 and monthly risky level at $41.03.Before the open on Jan. 11, Wells Fargo (WFC) ($34.94) beat EPS estimates by 4 cents earning 91 cents per share. The stock has moved sideways since this report between my annual pivot at $34.17 and quarterly risky level at $36.83 while maintaining a buy rating.
On Jan. 14, I continued my analysis in
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