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good morning from Los Angeles it's Thursday I'm ELISA coram here with Edie Carson and we have your market update on today's show we're taking a look at three stocks moving on their quarterly earnings report we have Tesla as well as Microsoft and AMD and we're previewing results for Amazon out after the close so taking a look at the major indexes we are rebounding today the Nasdaq is up about 2.2 percent we had the S&P 500 up 1.4 percent and the Dow up a little over 1% so even though we are seeing a strong rebound today we're still not recouping all of the losses from Wednesday's session know we're gaining back about half of that sort like dropping a ball bounce is about half way and that's sort of what we have so far and it's you know much bigger losses for the week and for the month so it's almost like a blip if this ends up just being one day you won't we really won't even remember it even though it's nice gains right now but definitely encouraging its really sharp sell-off yesterday you know breaking through support on all the major averages you know and then more and more stocks just crashing through but so we know this is nice but the day is not done the weeks not done we need to see a lot more gains like this that's right and we are in the thick of earnings season so maybe that'll help us decide what direction we're going which way but for now still well below the 200-day line the Nasdaq is absolutely and I just kind of sounded like Yoda there you kick backwards all right well let's take a look at Tesla moving up today but hitting resistance at the key 200-day line shares up about 5% in heavy volume after the quarterly report we have a surprise profit and booming revenue growth of a hundred and twenty nine percent late Wednesday but the chart here still severely damaged yeah a lot of damage and really the stock has had trouble for quite a while it's interesting you know like obviously the stocks surged when there was that whole you know funding secured but even before that the stock has been sort of a mess you know it's it's gaining it's had a nice run this week I mean that's keep in mind is that there are some rally ahead of the head of the earnings they're still gonna be concerned can they sustain this profitability will they need to raise you know more capital will they use capital spending and I have to boot run up again when they produce the new model Y and the Tesla semi there's a lot of questions obviously analysts and investors are still debating that bit it was you know certainly on the face of it really strong numbers and so that's he had said we're gonna get profitability and it was it was a pretty strong profit that's right and Microsoft shares up over six percent right now after a trip to its 200 a line in Wednesday's session we have accelerating growth on both the top and bottom lines earnings up 36% while revenue was up 19% fueled by strong cloud computing gains so the results are looking really nice but there's a key technical metric for Microsoft that is looking nice as well yeah I mean Microsoft it's still below its 50-day line I mean it's you know so it's not like oh boy this is poised to hit a new high but if you look at that blue line that's the relative strength line which compares the stock versus the S&P 500 Microsoft stock is actually hitting a new high which in some ways is a measure of how bad the market is but it's definitely telling you when you know when Microsoft and as the market turns around Microsoft might be one of those stocks that is going to be a leader I mean when you have accelerating earnings three-quarters of accelerating sales growth the stock hitting new you know highs relative to the S&P 500 you know it really really bullish in that regard the turnaround that that over the last few years has been pretty impressive at a huge company well so not even do we have the market conditions that warrant extreme caution right now even with this big bounce for Microsoft today and the strong result we want to not only see better market conditions but also stocks that are breaking out of proper basis so not quite a buying opportunity here for me no it hasn't even really broken the little downtrend it's bad it's one of the best performing stocks out there exactly alright and let's check in with AMD it is down on its earnings results almost 13 percent in heavy volume and we have earnings that met views while sales and q4 revenue guidance was weak so we do have the sock down over 13% it is a little bit off of the intraday low though holding above the 200-day line yeah I mean it's not it it's very lows but the stock has been really selling off for the past few weeks it's wiped out a lot of the gains from at least the light july portion from the q2 report after that there was a big run-up you know part of the reason why it ran up is that it's got next return generation ships and intel had some problems it'll be interesting to see until later said well maybe maybe we're doing okay on that front and the Intel above earnings tonight but you know this stock had been showing a lot of negative signs before these earnings so even though even if you go boy it's off its lows I mean this stock was screaming out sell signals and AMD also just has a history of you know sort of these brief runs and then really big collapses it just never has really you know really had that you know sustained run now maybe this was going to be the change but it doesn't seem like it and I hear alright and that big gap down definitely further damage for AMD there and along with Intel we have amazon issuing its quarterly report tonight the stock trying to find support above the 200-day line for now heading into that report the stock up over four percent and analysts are expecting revenue to rise 31 percent while earnings are expected to grow over 500% so could we see another strong quarter of growth from the e-commerce giant that now has its hands in so many other areas yeah from you know their Web Services and meanwhile you know advertising is becoming a bigger deal for that stock I mean yeah it's a nice rebound you know mutual funds seem to be stepping in and investor stepping into that it's a to hunting up from the two in a day line I will have to see you the earnings growth and you know the holotype holiday quarter coming up you know this is gonna be a big deal Amazon was a real leader but it's really sold off in recent recent weeks and so that's just that's just hitting so many growth stocks I mean you know basically everything has been falling down and if that just happens in a market correction say wow this is a great company great stock well it it almost doesn't matter I mean everything's gonna fall that's right well we will also get results from fellow Fang stock Google tonight so make sure you are heading to investors calm throughout the trading day as well as after the close for all the latest market news and analysis and you can check us out across social media at Facebook YouTube Twitter and Instagram thanks for joining us and we'll see you right back here tomorrow
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