Authored by ZanderVanDerMerwe
The JOLTS Job Openings are set to be released today with a forecast of 10.02 million expected 420 000 fewer job openings than last month. Consumer Sentiment is also set to be released with a higher forecast than last month's actuals, positive consumer sentiment may affect retail stocks positively in the leadup to the festive season. In this post, we will be discussing how Twitter is struggling with a strong headwind.
Yesterday’s movers:
- Beyond Meat Inc (BYND) was down 13.28% as they reported below expectation Earnings as well as weaker fourth-quarter guidance
- Tencent Music Entertainment (TME) was up 9.00% as earrings came out better than expected with revenue inline
- JD.com (JD) was up 8.31% following record singles-day shopping
- Plug Power Inc (PLUG) was up 8.11% as a positive analyst lift price despite lower-than-expected earnings
Stocks to watch:
Twitter’s third-quarter earnings came out disappointing as earnings missed expectations driving the price to break the longer-term rising trend line. Analysts noted that user growth is still in line with expectations, however, US user growth slowed down.
Technically there could be a vast amount of additional downside, with the consolidation range that was broken this week to go test the $49 mark with an additional downside to $45 if the selloff is set to continue.
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