Dow Jones Futures: Intel Earnings, Guidance Crash Chip Stock Party

Dow Jones futures rose late Thursday, along with S&P 500 futures and Nasdaq futures. Top stocks Intel (INTC), Starbucks (SBUX), Intuitive Surgical (ISRG) and ResMed (RMD) reported earnings late Thursday, while software maker Alteryx (AYX) gave preliminary revenue results. Weak guidance hit Intel stock and the semiconductor sector after a huge move by Xilinx (XLNX) and other chip stocks in Thursday’s stock market. Starbucks stock rose while Intuitive Surgical stock, ResMed stock and Alteryx stock fell.

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Intel stock, a member of the IBD 50 and Dow Jones, boasts a 95 IBD Composite Rating. Starbucks stock, which is on IBD Leaderboard, enjoys a 97 Composite Rating. So does Intuitive Surgical stock, while ResMed stock enjoys a 96 CR. Alteryx stock has a 95 Composite Rating. All-time top stocks often have a Composite Rating of at least 95 near the start of big runs.

Intel and Starbucks earnings are especially important, and not just because they have largest market capitalization. Intel earnings results and guidance — along with memory player Western Digital — undercut Thursday’s seismic semiconductor move. Starbucks earnings comes as several restaurants, including Starbucks stock, are in or near buy points. Starbucks also offers clues about China’s economy, heading into Apple (AAPL) earnings next week.

Dow Jones Futures Today

Dow Jones futures rose 0.3% vs. fair value. S&P 500 futures were up 0.3%. Nasdaq 100 futures rose 0.35% vs. fair value, reversing from earlier declines of about 0.5%. Remember that Dow futures and other overnight action don’t necessarily translate in actual trading in the next regular session.

The Nasdaq composite rose 0.7% on Thursday, fueled by chip stocks such as Intel. The S&P 500 index edged up 0.1% while the Dow Jones dipped 0.1%.

Intel Earnings Report Hits Intel Stock, Chip Sector

Intel earnings topped views, but revenue fell short. The chip giant also gave weak  guidance for Q1 and 2019, with China and data centers areas of concern. Intel stock tumbled 7.1% in late trade. In Thursday’s session, Intel stock rose 3.6%, reclaiming its 200-day moving average as the Philadelphia Semiconductor Index boomed 5.7% on strong results from Xilinx, Lam Research (LRCX) and other chip names.

Xilinx stock dipped 0.4% late after blasting 18% higher Thursday. Other chip stocks fell back overnight, but tended to hold the bulk of Thursday’s gains.

Starbucks Earnings

Starbucks earnings of 75 cents a share beat views by a dime. Same-store sales were strong worldwide and in the Americas region, though China comps growth of 1% missed some estimates.

Starbucks stock rose 1.9% to 65.97 late. Shares had closed down 2.5%, back below the 50-day line. Starbucks stock is working on a 69.08 flat-base buy point within a base-on-base formation.

Intuitive Surgical Earnings

Intuitive Surgical earnings narrowly missed Q4 views, while revenue edged past estimates. The growth in procedures performed using Intuitive Surgical’s da Vinci systems slowed somewhat. Intuitive Surgical stock fell 3.9% to 514.99 late. Shares could test the 50-day and 200-day lines, which are right around the 500 level. Intuitive Surgical stock had closed up 1.2% to 536.12, working on a 549.08 buy point.

ResMed Earnings

ResMed earnings beat Q4 views, but the sleep apnea products maker missed on revenue. Shares plunged 12% to 103.60 late, signaling a sharp move below a 116.42 cup-with-handle buy point cleared last week. ResMed stock had closed up 0.1% to 117.30.

Alteryx Stock

The database software maker reported preliminary fourth-quarter revenue of about $ 59 million, which would be a 53% year-over-year gain. That’s modestly above views for about $ 57.4 million. But Alteryx stock fell 2.8% to 68.49 late after closing down 1%. Shares cleared a 67.50 buy point earlier this month.

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