With another big day for earnings, we'll see if the stock market can continue this rally. There are 180 earnings expectations for today. The stocks which I'll be watching closely are:
- Amgen Inc (AMGN)
- Buffalo Wild Wings Inc (BWLD)
- Corning Incorporated (GLW)
- Rock-Tenn Company (RKT)
- Verizon Communication (VZ)
I am very interested to see what the management at Corning has to say for the outlook on LCD sales. Corning best of breed glass manufacturer is always quite conservative with their outlook, but I'm curious to see what they have to say about glass panel sales- this would give me a better idea of where consumer spending may be over the next quarter/year. Rock-Tenn has a great earnings momentum coming into this quarter, look for the stock to spike on better than expected numbers. Buffalo Wild Wings reports after the bell, expectations are about 10% higher net income for the quarter year over year- but that's expected for a small cap growth stock. They are hit or miss, but I'll give them the benefit of the doubt seeing as the price of poultry is much lower than last year. Watch Buffalo Wild Wings pop or drop, as the short interest on this stock is sky high at 30.4%. I'll look to be opening up an option straddle on
BWLD before stock market close, as the swings after earnings are huge.
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