Put It in the Win Column (OPEN, MA, TRIP, TRLG, SXCI, END)
While it was a mixed day on Wall Street, we’d put it in the win column for the bulls as stocks just remain resilient despite a much worse-than-expected ADP jobs report. Earnings were generally solid, but otherwise the market seemed to have every reason to go down, but in the end stocks hung tough. At some point, though, we’re still looking for a pullback.
The Pharmacy Benefit Manager Stocks Index was the top performing tickerspy Index on the day, led by SXC Health Solutions (SXCI) with a 5% gain. The Natural Gas Stocks Index was the day’s worst performing tickerspy Index, with Endeavor International (END) down -24%.
Stocks ended mixed, with the Dow off by -11 points to 13,269. The S&P fell -4 points to 1,402, while the Nasdaq rose 9 points to 3,060. Oil fell -94 cents to $105.22 a barrel, while gold tumbled -$8.40 to $1,654.00 an ounce.
In economic news, ADP Employer Services said private employers added just 119,000 new jobs last month compared with 201,000 in March. Economists were expecting 170,000 new jobs. The Labor Department delivers the April jobs report on Friday. Elsewhere, the Commerce Department said factory orders fell -1.5% in March compared to a 1.1% gain in February. Economists expected a -1.8% decline in March.
In earnings news, shares of restaurant reservations firm OpenTable (OPEN) plunged -15.0% after the company said it expects a second-quarter profit of 36-39 cents a share on revenue of $38.5-$39.8 million. Analysts were expecting 37 cents per share on revenue of $41.3 million. The company expects a full-year profit of $1.49-$1.64 on revenue of $158-$164 million. Analysts were expecting $1.52 on revenue of $167.7 million. OpenTable said its first-quarter profit rose to $4.8 million, or 21 cents per share, from $4.2 million, or 17 cents per share, a year earlier. On an adjusted basis, the company earned 40 cents per share, up from 28 cents per share a year earlier. Revenue climbed 17% to $39.4 million. Analysts had expected a profit of 34 cents per share on revenue of $39.6 million.
MasterCard (MA) said its first-quarter profit rose to $682 million, or $5.36 per share, on revenue of $1.8 billion. Analysts had expected a profit of $5.29 per share on revenue of $1.73 billion. Shares of MasterCard fell -1.0%. More than 120 pros held MasterCard in their portfolios at the end of Q4 and more than 900 tickerspy members own the stock in their portfolios.
Shares of online travel recommendations firm TripAdvisor (TRIP) surged 16.7% after the company reported better-than-expected Q1 results. Net income edged up to $48.1 million, or 35 cents per share, from $47.4 million, or 35 cents per share, a year earlier. Revenue climbed to $183.7 million. Adjusted EPS came in at 38 cents. Analysts had expected EPS of 34 cents on revenue of $174.4 million.
Shares of True Religion (TRLG) climbed 3.5% after the maker of pricey jeans said its first-quarter profit beat estimates. The company also announced a dividend and a $30 million share repurchase plan. The company recorded a profit of $10.4 million, or 41 cents per share, up from $9.0 million, or 36 cents per share, last year. Revenue rose 14% to $106.8 million. Four pros counted True Religion among their top holdings at the end of Q4 and nearly 130 tickerspy members own the stock in their portfolios.
More on this topic (What's this?)
(TRIP) TripAdvisor Beats Earnings in First Quarter (Stock Blog Hub, 5/17/13)
"Sell DECK and Buy TRLG" (AB Analytical Services, 5/1/12)
New Trade: Long TripAdvisor ($TRIP) & Short Blue Nile ($NILE) (Intelligent Speculator, 7/9/12)
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