Among those setting up follow-on buy areas are Amazon (AMZN), Inphi (IPHI) and Domino's Pizza (PZZA). Meanwhile, Nvidia(NVDA), moved past a flat base buy point Monday intraday. Texas Instruments (TXN), Equifax (EFX) and Google parent Alphabet(GOOGL) also are in the midst of flat bases and have recently found support at or near the key 50-day line.
Investors should be cautious about any purchases right now given the current market environment.
FedEx
Wall Street expects the air and ground freight operator to report 16% in per-share earnings growth to $2.81 a share on a 19% revenue increase to $14.6 billion.
Shares rose 1.7% intraday Monday, trading below the 50-day line.
The busy holiday shipping season is about to descend, and the delivery game is getting fiercer. In early August, Atlas Air Worldwide (AAWW) said that the first delivery jet for Amazon would take to the air soon.
FedEx may offer clues about the health of the U.S. and global economy, as well as possible hints about the holiday shopping season.
Adobe Systems On A Roll?
The software giant's momentum isn't seen slowing when it discloses third-quarter earnings and revenue figures late Tuesday. Earnings are expected to grow 33% to 72 cents a share on 19% revenue growth to $1.45 billion.
Shares of Adobe rose 0.7% in the stock market today to 99.61. The stock is close to a 100.66 entry.
Wells Fargo Under Fire
The Senate Banking Committee is slated to scrutinize John Stumpf, the bank's head honcho, over the reported 2 million fake accounts that were opened in a bid to meet internal sales goals. The scandal has so far resulted in the firing of 5,300 Wells Fargo employees and $185 million in fines.
Shares rose 1.3% intraday -- after tumbling 9.3% over the prior six sessions.
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