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Chris La - Tuesday, February 13, 2024
Tuesday's Trades
Traders have a variety of stocks to trade for Tuesday. In the technology sector, Shopify (SHOP), which announced a subscription rate hike of 25% at the top tier Plus level, will likely continue its long-term uptrend regardless of the post-earnings reaction.
Datadog (DDOG), a cloud software provider, will give shareholders insight into customers increasing their enterprise cloud infrastructure spending. It scheduled analyst day for February 15, 2024.
In the consumer goods sector, Coca-Cola (KO) needs to ally investor fears that it still has pricing power. When Pepsi (PEP) posted results, fear rose on the firm's ability to raise prices. After the market closes, Lyft (LYFT), Airbnb (ABNB), Zillow Group (ZG), and Instacart (CART) will post their quarterly results. Among them, Lyft has the highest chance of disappointing investors. Uber (UBER) is the more attractive of the two investments. However, drivers from both firms are reportedly stopping driving services on Valentine's Day. Workers are protesting the fall in pay, deactivations, and driver safety.
On Wednesday, Cisco (CSCO) is the network telecom giant to watch. The company announced a steep job cut ahead of the results. Fastly (FSLY) and QuantumScape (QS) are the volatile speculations for traders.
In the cyclical sector, mining firm Barrick (GOLD) will post results before the market opens on Wednesday. After the bell, traders should watch Albemarle (ALB) closely. Lithium prices plunged in the last year due to falling electric vehicle demand. Albemarle's guidance might validate the bullish multiple bottom at $110.00.
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