Amazon, GM and 3M Earnings Preview

NEW YORK (TheStreet) -- The tidal wave of earnings reports continues, and today I profile 13 companies that report quarterly results Thursday. Among them, four have buy ratings and nine have hold ratings, and only one is a Dow component.

To review my buy-and-trade strategies for the stocks reporting today, read Boeing, Caterpillar, Facebook Earnings Ahead.

Before I provide my buy-and-trade data for tomorrow's key earnings, let's take a look at how the 10 companies that reported Tuesday performed after releasing their earnings reports. These are the stocks I profiled on in Undervalued Apple Reports Earnings Tuesday.

Apple ( AAPL) ($418.99) beat EPS estimates by 16 cents earning $7.47 per share. Apple traded as high as $439.32, which is not a surprise as the stock has a buy rating. My weekly value level is $404.95 with my annual pivot at $421.05 and annual risky level at $510.64.

Broadcom ( BRCM) ($31.83) missed EPS estimates by 2 cents earning 47 cents a share. This buy rated stock traded down to a new 2013 low at $30.05 in the afterhours. My annual pivots are $30.97 and $32.91.

Discover Financial ( DFS) ($50.71) beat EPS estimates by 4 cents earning $1.20 a share. My semiannual value level is $48.93 with a weekly pivot at $50.00.

Freeport McMoRan ( FCX) ($29.99) beat EPS estimates by 8 cents earning 49 cents a share. The stock ended the session above its 50-day SMA at $29.56 with the 200-day SMA at $33.47.

Nabors Industries ( NBR) ($15.29) missed EPS estimates by a penny earning 8 cents a share. My weekly value level is $14.89 with my annual risky level at $18.49.

Panera Bread ( PNRA) ($182.01) missed EPS estimates by 3 cents earning $1.74 a share. The buy rated stock traded down to its 200-day SMA at $171.36 in afterhours trading. My annual value level is $145.66 with my semiannual pivot at $179.90 and quarterly risky level at $188.25.

AT&T ( T) ($35.81) missed EPS estimates by a penny earning 67 cents a share. My weekly value level for this buy rated stock is $34.25 with a quarterly pivot at $36.27 and semiannual risky level at $38.14.

Travelers ( TRV) ($82.21) beat EPS estimates by 55 cents earning $2.13 a share. Despite this win the stock traded lower on Tuesday. My weekly value level is $81.54 with a semiannual pivot at $85.15 and monthly risky level at $87.88.

United Technologies ( UTX) ($105.12) beat EPS estimates by 9 cents earning $1.65 a share. This buy rated Dow component set a new multi-year high at $105.66 on Tuesday. The stock was featured in Buy-Rated Dow Components Slip To Ten. My weekly value level is $98.26 with a monthly pivot at $100.89 and semiannual risky level at $107.61.

Valero Energy ( VLO) ($35.33) missed EPS estimates by 4 cents earning 90 cents a share. My weekly value level is $32.72 with quarterly and semiannual pivots at $34.34 and $34.73.

Stocks continue to trade under a ValuEngine valuation warning with 76.5% of all stocks overvalued, 43.6% are overvalued by 20% or more. Fifteen of 16 sectors are overvalued, 14 by double-digit percentages.

Here is my table on data for the 13 stocks reporting results on Thursday:

Reading the Table

OV/UN Valued: Stocks with a red number are undervalued by this percentage. Those with a black number are overvalued by that percentage according to ValuEngine.

VE Rating: A "1-engine" rating is a strong sell, a "2-engine" rating is a sell, a "3-engine" rating is a hold, a "4-engine" rating is a buy and a "5-engine" rating is a strong buy.

Last 12-Month Return (%): Stocks with a red number declined by that percentage over the last 12 months. Stocks with a black number increased by that percentage.

Forecast 1-Year Return: Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months.

Value Level: Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.

Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.

Risky Level: Price at which to enter a GTC limit order to sell on strength.

Amazon.com ( AMZN) ($301.06) set a multi-year high at $309.39 on July 16. My monthly value level is $295.46 with a weekly risky level at $310.48.

Colgate Palmolive ( CL) ($58.41) set a multi-year high at $62.70 on May 16 then traded as low as $55.47 on June 24. My weekly value level is $55.41 with a monthly risky level at $82.75.

Cirrus Logic ( CRUS) ($19.22) set its 2013 low at $16.46 on June 14. My annual value level is $13.35 with a weekly pivot at $19.24 and annual risky level at $20.74.

General Motors ( GM) ($36.61) set a multi-year high at $36.99 on July 22. My semiannual value level is $34.41 with a weekly risky level at $36.69.

Harley Davidson ( HOG) ($55.96) set a multi-year high at $59.84 on May 20 then traded as low as $49.15 on June 24. My weekly value level is $53.43 with a semiannual pivot at $55.81 and monthly risky level at $58.34.

International Paper ( IP) ($46.88) set a multi-year high at $49.10 on April 11 then traded down to $42.36 on June 24. My weekly value level is $45.15 with a semiannual pivot at $46.92 and semiannual risky level at $50.08.

3M ( MMM) ($116.75) set a multi-year high at $117.30 on July 23. This buy rated Dow component has a semiannual value level at $115.00 with a monthly risky level at $118.70.

Newmont Mining ( NEM) ($31.14) set a multi-year low at $26.47 on July 10. My monthly value level is $22.14 with a weekly pivot at $28.96 and quarterly risky level at $40.92.

Starbucks ( SBUX) ($67.66) set a multi-year high at $69.90 on July 15. My quarterly value level is $65.01 with a quarterly pivot at $68.25 and weekly risky level at $69.75.

Under Armour ( UA) ($61.99) set a multi-year high at $65.55 on May 22 then traded down to $55.63 on June 24. My quarterly value level is $58.76 with a semiannual risky level at $66.00.

Vulcan Materials ( VMC) ($49.67) set a multi-year high at $59.48 on Jan. 22 then set a 2013 low at $45.42 on April 15. My semiannual value level is $47.42 with a quarterly pivot at $49.74 and monthly risky level at $57.22.

Weyerhaeuser ( WY) ($29.33) set a multi-year high at $33.24 on May 22 then as low as $26.38 on June 24. This stock reports premarket on Friday. My annual value level is $28.69 with a monthly risky level at $30.89.

Zynga ( ZNGA) ($3.27) is above its 50-day and 200-day SMAs at $3.17 and $2.92. My weekly value level is $2.88 with a monthly risky level at $3.63.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.

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