The fire hose stream of earnings reports continued on Tuesday, with winners and losers running at the top and bottom of the S&P 500 and Nasdaq composite. Five big earnings stock movers include D.R. Horton, Crocs, Check Point Software, JetBlue Airways and Norway-based Opera.
Opera Stock
Opera, a designer of mobile and desktop web browsers, gapped up 10% on Tuesday in big volume. The company reported a 37% EPS gain, vs. expectations for a 4% improvement. Revenue rose 20% to $123.21 million. Analysts expected $120.43 million.
The company lifted revenue guidance to $135 million-$138 million, above current consensus for $133.39 million.
Opera stock passed a buy point of 16.34 on Friday. Tuesday's move put shares beyond that 5% buy range, and also above buy range on the 17.25 entry listed by MarketSurge chart analysis.
JetBlue Airways Among Earnings Stock Movers
The airline lost 16 cents per share, beating views for a 21-cent loss. Revenue of $2.365 billion also beat. But JetBlue projected a worse-than-feared decline in full-year revenue, with domestic travel demand moderating as the U.S. elections loom. The New York-based carrier now expects 2024 revenue to fall 4%-5%, vs. analyst expectations for a 3.6% decline.
That sent shares down 17.1% on Tuesday. Intraday, JetBlue Airways stock tested support at the merged 50- and 200-day moving averages.
D.R. Horton Stock
Homebuilder D.R. Horton tumbled 7.1% on Tuesday, after fiscal fourth-quarter earnings of $3.92 stopped short of views for $4.17. Revenue also missed, at $10 billion against a target for $10.22 billion. Management also lowered fiscal Q1 and full-year guidance to well below consensus targets.
The homebuilder stock's move set shares back to their lowest level since July, killing a base-building effort. D.R. Horton stock tumbled below its 200-day line but bounced back.
Crocs Stock
Crocs shares sank 19.2% in Tuesday's stock market action. The maker of rubber, slip-on footwear turned in Q3 earnings of $3.60 a share, above views for $3.10. Revenue of $1.06 billion sneaked past views for $1.05 billion. But Q4 guidance missed consensus estimates by a wide margin.
Crocs shares had been hugging 10-week support within a 20-week consolidation. Tuesday's loss saw Crocs stock undercut August lows.
Check Point Software Stock
The cybersecurity software maker turned in Q3 earnings and revenue in line with estimates. But Security Subscriptions disappointed and billings missed. Analysts noted disappointing growth trends given high expectations around the firewall cycle, according to FactSet.
Shares dived 14.5% on Tuesday. Check Point Software stock sank below the 50-day moving average, giving up much of its gains from a successful July breakout from a flat base.
