Stocks were mixed in afternoon trade Tuesday. Social media leader Twitter (TWTR) surged to new highs after its inclusion in the S&P 500 index. Meanwhile, Five Below (FIVE) is breaking out above a buy point Tuesday. (For updates on this story and other market coverage, visit stock news today)
The tech-heavy Nasdaq briefly turned red before rising 0.3% in late-day trade, while the S&P 500 was unchanged. The Dow Jones industrial average dipped just 0.1%
Among the Dow stocks, Apple (AAPL) hit a new high Tuesday with a 0.7% gain. Shares are extended from a 179.04 double-bottom entry.
On the downside, Walmart (WMT) fell more 1% and was the biggest loser on the blue-chip index. Shares are finding resistance at the 50-day line — about 23% off its 52-week high.
Among companies reporting earnings, top software stock Coupa Software (COUP) jumped almost 7% after beating the Street’s Q1 estimates and providing better-than-expected guidance. The stock is about 16% above a 50.79 flat-base entry.
Leading health savings accounts provider HealthEquity (HQY) gained 4% on its way to a new high Tuesday. The company easily topped Q1 earnings estimates late Monday. Shares are about 15% above a 68.85 flat-base entry.
After the market close, Chinese stock YY (YY) and Ollie’s Bargain Outlet (OLLI) will report their respective quarterly earnings results.
IBD 50 name YY is expected to earn $1.52 on sales of $487.8 million. Shares of the livestreaming company are etching the right side of a potential cup-shaped base. The stock rose almost 2% in midday trade.
Ollie’s is expected to earn 36 cents per share on revenue of $270 million. The retailer is extended above a 62.15 flat-base entry and is right at the 20%-25% profit-taking range. Shares rose over 1%.
Twitter surged over 5% on its way to a new high. Shares are about 18% above a 33.88 cup-with-handle entry after a breakout on May 21. Standard & Poor’s announced Twitter would join the S&P 500 index.
Five Below is breaking out above a 78.38 flat-base entry with a 3% rise and is in the 5% buy range. The company will report its quarterly earnings after the market close Wednesday.
Inside The IBD 50 Stocks
Among the top growth stocks, Trade Desk (TTD) shot up 5% to recover from Monday’s downgrade-related losses. The stock is about 30% above a 67.40 buy point after an earnings-related gap up on May 11.
On the downside, SolarEdge Technologies (SEDG) stumbled nearly 5%. Shares fell further under the 50-day line and are about 25% off high.
