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On the flip side, some oversold names could be due for some near-term gains. A 14-day RSI reading above 70 typically indicates that a stock is overbought and could face a pullback. Here are some of the most overbought names: Equifax was the most overbought name on the list, with a 14-day RSI reading of 97.13. Other overbought names on the list include BlackRock and Northern Trust . Stocks that are oversold include Cigna , which has a 14-day RSI of 20.49.
Persons: Equifax, Shlomo Rosenbaum, Nick McKay, McKay, Cigna, Hormel, Fred Imbert Organizations: Dow Jones Industrial, Nasdaq, CNBC, BlackRock, Northern Trust, CNBC Pro, Street, Humana, Cisco, Wynn Resorts, Locations: Equifax, 2H24
Wedbush isn't deterred after disappointing second-quarter results from Roblox . The firm upgraded the gaming stock to outperform from neutral Wednesday, accompanied by a $37 per share price target. Roblox missed on both the top and bottom line on Wednesday, sending shares plummeting more than 20% . The analyst added that the large-scale stock selloff on Wednesday could present investors with a buying opportunity, with an upside-skewed risk-to-reward profile. RBLX YTD mountain Roblox stock has added nearly 4% from the start of 2023.
Persons: Wedbush, Roblox, Nick McKay, McKay, — CNBC's Michael Bloom
AppLovin said it anticipates revenue to range between $780 million and $800 million, ahead of the $741 million expected by analysts, per Refinitiv. Alibaba — U.S.-traded shares rose 4.3% Thursday after the Chinese company beat analysts' expectations and posted its biggest year-over-year revenue growth since 2021. In the June quarter, the company posted revenue of 234.16 billion yuan versus 224.92 billion yuan expected, per Refinitiv. Earlier this week, Fleetcor posted adjusted earnings of $4.19 per share on revenue of $948.2 million. Analysts polled by FactSet called for earnings of $4.17 per share on revenue of $945 million.
Persons: Kate Spade, AppLovin, Alibaba, Versace, Jimmy Choo, Michael Kors, Wynn, Refinitiv, Jefferies, Truist, Nick McKay, Fleetcor, FactSet, — CNBC's Brian Evans, Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li, Alex Harring Organizations: Disney —, Disney, Capri Holdings, Capri, Wynn, , Penn Entertainment, Disney's ESPN, Wedbush Locations: Marina, Sands, Singapore, Alibaba —, Wednesday's
May 10 (Reuters) - Roblox Corp (RBLX.N) on Wednesday topped quarterly bookings estimates on Wednesday, as a wider audience swarmed to the platform for games such as "Adopt Me!" However, adjusted loss of 44 cents per share was bigger than analysts' expectation of 40 cents loss per share, according to Refinitiv data. Roblox said higher expenses due to developer exchange fees, personnel costs and infrastructure were the reason behind the bigger loss. "We also expect our operating expenses to increase significantly in future periods", the company said, adding it intends to continue to make investments to grow its business and hire more people. Reporting by Yamini Kalia and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
EA's quarterly bookings beat estimates on 'FIFA' strength
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: +1 min
May 9 (Reuters) - Videogame publisher Electronic Arts Inc (EA.O) beat fourth-quarter booking estimates on Tuesday as the latest installments in its "FIFA" and "Madden NFL" series kept gamer interest strong, sending the company's shares up 3.3% after the bell. EA reported net bookings of $1.95 billion in the fourth quarter, compared with Refinitiv estimates of $1.76 billion. "Record live services performance and increased engagement, particularly from our EA Sports FIFA franchise, drove better-than-expected Q4 net bookings," Chief Financial Officer Chris Suh said. EA also said it expects fiscal 2024 net bookings between $7.30 billion and $7.70 billion, compared with estimates of $7.52 billion. Bookings outlook for the current quarter was in line with expectations.
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