Late afternoon yesterday (7/25) the market took a hit on WMT guidance cut. There appears to be a trend of worsening earnings, macroeconomic data is deteriorating and inflation is running rampant. Nothing on the surface suggests this market should move higher, which in-fact is the reason I am now slightly more bullish that we will see a 1-2 day squeeze from current levels. Lots of economic data this week with the Fed and earnings. Tighten up stops and do not get comfortable.
MSFT Microsoft Q4 22 Earnings: - Rev: 51.9B(exp 52.45B) - Adj EPS: $2.23(exp $2.29) - Q4 Commercial Cloud Rev. 25b,Est. 24.99b - Q4 Productivity Rev 16.60b,Est. 16.68b - Q4 More Personal Computing Rev. 14.36b, Est. 14.67b - Q4 Intelligent Cloud Rev. 20.91b,Est. 21.07b Guidance for FY23 revenue growth in double digits saves the earnings miss.
GOOGL Q222 results disappointing, the stock jumping as much as 5.7% after hours as results weren't as worse as feared. Cloud growth slowing to 36% from 44% in Q122.