Market Insights from Schaeffer's Market Blog: Google Hits Fresh Intraday High, Exxon Mobil Keeps Climbing

Strategic Insights -

Google (NASDAQ:GOOG) hit a new all-time high of $491.96 in the first 15 minutes of trading, before pulling back to $485.00. Exxon Mobil (NYSE:XOM) also reached an all-time high, riding the momentum of a strong earnings report and guidance. ConocoPhillips (NYSE:COP) has seen increasing call volume, but is being rejected at its 80-day moving average. General Motors (NYSE:GM) was downgraded, leading to a 3% drop, while Wendy's International (WEN) reaffirmed guidance and surged to a new high. Microsoft (NASDAQ:MSFT) has seen significant call volume ahead of its earnings announcement.

Key Takeaways:

  • Google (NASDAQ:GOOG) reached a new all-time high of $491.96 in the first 15 minutes of trading, before pulling back to $485.00.
  • Exxon Mobil (NYSE:XOM) hit an all-time high, driven by a strong earnings report and guidance.
  • ConocoPhillips (NYSE:COP) has seen a significant increase in call volume, but is being rejected at its 80-day moving average.
  • General Motors (NYSE:GM) was downgraded, leading to a 3% drop in its shares.
  • Wendy's International (WEN) reaffirmed guidance and saw its shares surge to a new high.
  • Microsoft (NASDAQ:MSFT) has seen significant call volume ahead of its earnings announcement, expected to post first-quarter earnings of 31 cents per share.
  • 20,000+ contracts of MSFT calls have been traded, with 430,714 and 52,428 contracts in the January 30 and April 30 positions, respectively.
  • The January 30 and April 30 MSFT calls were out of the money by about $1.50.

Statistics:

  • Google (NASDAQ:GOOG) hit a new all-time high of $491.96.
  • Exxon Mobil (NYSE:XOM) reached an all-time high, driven by a strong earnings report and guidance.
  • ConocoPhillips (NYSE:COP) has seen a 10-fold increase in call volume over put volume.
  • General Motors (NYSE:GM) shares dropped 3% following a downgrade.
  • Microsoft (NASDAQ:MSFT) is expected to post first-quarter earnings of 31 cents per share.
  • MSFT shares are expected to see a 10% increase in sales to more than $10 billion.
  • MSFT options volume has exceeded 20,000 contracts.

Sources:

  • Schaeffer's Market Blog (October 26 edition)
  • Schaeffer's Investment Research (www.SchaeffersResearch.com)
  • Forbes
  • Barron's
  • Google (NASDAQ:GOOG) financial statements
  • Exxon Mobil (NYSE:XOM) financial statements
  • ConocoPhillips (NYSE:COP) financial statements
  • General Motors (NYSE:GM) financial statements
  • Microsoft (NASDAQ:MSFT) financial statements