This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Adobe, FedEx Hit All-Time Highs on Strong Earnings

NEW YORK (TheStreet) -- Shares of Adobe Systems (ADBE - Get Report)  and FedEx (FDX - Get Report) have surged to all-time highs as both companies reported better-than-expected quarterly results this week.

Adobe ($73.08) rose 8% on Wednesday after the software company reported fiscal second-quarter earnings of 23 cents a share after the bell on Tuesday, topping analysts' average estimate by 7 cents. The company's cloud-computing initiatives to an all-time intraday high at $74.69 on Wednesday as detailed in The Street.

Shares of package-delivery company FedEx ($148.95) soared to their highest altitude ever after the company reported fiscal fourth-quarter earnings of $2.46 a share early Wednesday, topping estimates by 10 cents. The company reported increased shipping volume in its FedEx Ground segment. The stock set an all-time intraday high at $149.37 on Wednesday, as covered by TheStreet.

The performances should not have been a surprise to readers of my past posts covering these companies, including my positive technical profile on FedEx on May 23.

Courtesy of MetaStock Xenith

The weekly chart for FedEx shows that the stock is becoming overbought with a 12x3x3 weekly slow stochastic reading moving above 80.00 on a scale of 00.00 to 100.00, where a reading above 80.00 is overbought. The stock is well above its five-week modified moving average now at $141.42 vs. $136.68 on May 23.

What is an issue for the stock is that it has gapped above quarterly, weekly, monthly and semiannual risky levels. It now pivots at $142.30, $145.08, $146.82 and $148.81. Annual value levels lag at $97.95 and $93.02.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ADBE $73.60 0.40%
FDX $166.75 1.31%
AAPL $126.37 2.53%
FB $83.20 -0.13%
GOOG $552.03 0.67%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs