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Dear EarningsBeats Community Member:
It's mostly a quiet week on the earnings front; Q2 earnings season won't get underway for another 3-4 weeks - but there are a few highly visible large tech stocks reporting this week as Tom Bowley explains below. Also, if you want to see my Chart of the Week just click on the link below
https://www.earningsbeats.com/public/Chart-of-the-Week-Preview.cfm
Two Major Companies set to Report Earnings
This week two large software companies will be reporting their quarterly results. On Tuesday after the close, we'll hear from Adobe Systems, Inc. (ADBE, $135 billion market cap). Then Oracle Corp (ORCL) announces its results after the close on Wednesday. Despite being part of the very impressive and long-time, outperforming software group, neither of these two stocks have exactly been relative leaders amongst their peers, especially ORCL:
ADBE just hit a 17 month relative low, although it had been a significant outperformer prior to that. ORCL, on the other hand, has simply not performed well vs. its peers. ORCL has moved higher the past 5 years, but its relative performance has been horrid. Perhaps ADBE can re-establish its relative strength starting with its earnings report tomorrow night, but I'd stay completely away from ORCL until that under-performer can begin to show it's worthy of your investment.
Happy trading!
Tom Bowley
Sr. Technical Analyst
StockCharts.com
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