Market News 7-20-23

Market internals still look great. But leading stocks are stalling. 

I’d be diligent with my trailing stop loss management. After Tesla and #NFLX reported yesterday it seems like profit taking is the play.

Am I calling a short-term top? Well yes. There I said it.

Does that mean run for the hills and start short selling? No. It means manage your open winners.

How long can Elon Musk keep up the magic act with consecutive quarters of declining margins?


Netflix earnings showcase strength, stock tanks

Netflix reported strong earnings amidst a chaotic media landscape. The streaming giant’s revenue and subscriber numbers exceeded expectations, with a net addition of 1.5 million subscribers. 

Despite increased competition from other streaming services, Netflix’s original content and global expansion efforts have helped maintain its dominance in the market. The company’s stock also saw a significant increase following the positive earnings report.

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Johnson & Johnson Stock Jumps on Earnings

Johnson & Johnson’s EPS for the first quarter of 2021 fell short of expectations, leading to a decrease in investor confidence. Additionally, the company is facing legal challenges related to its talc-based products, which further impacted its stock price. 

However, some analysts believe that the stock is undervalued and could present a buying opportunity for investors.

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Tesla Beat Q2 Earnings Estimates, But Margins Keep Shrinking

Tesla reported better-than-expected Q2 earnings, but its profit margins continued to decline. The company’s revenue increased by 98% compared to the previous year, driven by strong vehicle deliveries. 

However, rising costs and supply chain challenges impacted its gross margins, which fell to 21.3% from 25.8% in Q1. Tesla’s CEO, Elon Musk, acknowledged the difficulties but expressed confidence in improving margins in the future. The company also highlighted progress in its Gigafactories and energy business.

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