The major market averages were modestly higher Thursday, as FANG stock Netflix (NFLX) was initiated with a bullish analyst rating in the stock market today. The tech-heavy Nasdaq moved up 0.3%, while the S&P 500 and Dow Jones industrial average rose 0.4% apiece.
Elsewhere in the Dow, Microsoft (MSFT) reversed from early losses to rise 0.1%, as the software maker trades within the 5% buy range that runs up to 90.62. The stock broke out on Dec. 15 above an 86.30 flat-base buy point.
FANG stock Netflix moved up nearly 2% in early trade after Barclays initiated the stock with an overweight rating and a 245 price target — a 15% premium to Wednesday’s closing price. Shares were at an all-time high, more than 5% above a 204.48 flat-base entry and extended. The stock has been a standout performer this year, rising over 12% in 2018.
Among companies reporting earnings, homebuilder KB Home (KBH) jumped nearly 9% to new highs after reporting solid results late Wednesday. Shares are up over 50% from a 24.47 cup-shaped base buy point.
Airlines were taking off early Thursday, driven higher by Delta Air Lines‘ (DAL) strong earnings results. The airline also raised its 2018 profit guidance amid strong demand. Shares soared as much as 3% before trimming gains to nearly 1%. Shares are back in buy range from a 54.16 cup-with-handle entry. The 5% buy range tops out at 56.87.
Electric automaker Tesla (TSLA) continues its recent rebound, rising 1.7% Thursday. Shares have rebounded more than 7% this week so far, getting back above their 50- and 200-day moving average lines.
Inside the IBD 50, Diamondback Energy (FANG) traded over 2% higher, as the stock looks to end a two-day losing streak. Shares of the Leaderboard member are about 13% above a 115.03 flat-base entry after a Dec. 20 breakout amid soaring oil prices that have seen the commodity rise to its highest level in more than three years.
On the downside, China Lodging (HTHT) fell over 1%, but remains extended from a 142.90 cup-shaped base buy point.
This Article Was Originally From *This Site*
Powered by WPeMatico