Can you roll over money from an IRA to a health savings account after youre on Medicare?
See Also: How to Make Your Health Savings Account Grow
No. You can only roll over money from an IRA to an HSA when youre eligible to make new HSA contributions, and you cant make new HSA contributions after you sign up for Medicare.
But theres a quirk in the rules that makes things more complicated: a special 12-month testing period for the rollover, which means you need to remain eligible to make HSA contributions for up to 12 months after rolling over the money from the IRA to the HSA, or else some of the funds will be taxable as income and a 10% penalty will apply, says Roy Ramthun, president of HSA Consulting Services.
Because of this rule, its best to roll over money from an IRA to an HSA more than a year before you plan to sign up for Medicare, while you still have an HSA-eligible high-deductible health insurance policy. To qualify to make new HSA contributions in 2016, your policy must have a deductible of at least $1,300 for individual coverage or $2,600 for family coverage.
Top 10 Services Stocks To Invest In 2017: Kelly Services Inc.(KELYA)
Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries worldwide. The company offers trained employees who work in word processing, data entry, and as administrative support staff; staff for contact centers, technical support hotlines, and telemarketing units; substitute teachers; support staff for seminars, sales, and trade shows; technicians for the technology, aerospace, and pharmaceutical industries; maintenance workers, material handlers, and assemblers; and temporary and full-time placement services, as well as direct-hire placement and vendor on-site management services. It also provides scientific and clinical research workforce solutions; chefs, porters, and hospitality representatives; manual workers to semi-skilled professionals in trade, non-trade, and operational positions; engineering professionals for various disciplines, such as aeronautical, chemical, civil/structural, electrical/instrumentation, environmen tal, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications; and employees for creative services positions. In addition, the company offers professionals for corporate finance departments, accounting firms, and financial institutions; talent management solutions; healthcare specialists and professionals for hospitals, ambulatory care centers, HMOs, and other health insurance companies; information technology specialists; legal professionals, such as attorneys, paralegals, contract administrators, compliance specialists, and legal administrators; and mid- to senior-level search and selection services, as well as consulting services. Further, it provides recruitment process and contingent workforce outsourcing, independent contractor solutions, payroll and business process outsourcing, career transition and organizational effectiveness, and executive search services. The company was founded in 1946 and is headquartered in Troy, Michigan.
- [By David Milstead]
One such outfit is Kelly Services (KELYA). The Troy, Mich., company places temporary employees in a variety of fields, such as law, health care, computing and finance. Although recent job reports have been strong, S&P Capital IQ analyst Michael Jaffe sees employers remaining cautious in their hiring practices and using the kind of temporary workers Kelly specializes in. Jaffe says Kelly is his top pick in the staffing sector, and he rates the stock a strong buy.
- [By Monica Gerson]
Kelly Services, Inc. (NASDAQ: KELYA) is projected to report its quarterly earnings at $0.28 per share on revenue of $1.35 billion.
Silver Standard Resources Inc. (USA) (NASDAQ: SSRI) is expected to post a quarterly loss at $0.02 per share on revenue of $96.25 million.
Top 10 Services Stocks To Invest In 2017: Scripps Networks Interactive Inc(SNI)
Scripps Networks Interactive, Inc. operates as a lifestyle content company in the United States and internationally. It engages in the operation of television networks, including Home and Garden Television, Food Network, Travel Channel, DIY Network, Cooking Channel, and Great American Country. The company also operates Websites, including FoodNetwork.com, Food.com, CookingChannelTV.com, HGTV.com, DIYnetwork.com, and Travelchannel.com that are associated with its television networks and other Internet-based businesses serving food, home, and travel related categories. Scripps Networks Interactive, Inc. is headquartered in Knoxville, Tennessee.
- [By Ben Levisohn]
Here we think names trading in the mid-single digit multiple range such as AMC Networks (AMCX) should benefit the most as should Lions Gate Entertainment (LGF) / Starz (STRZA), Viacom (VIAB), Viacom (VIA) and Scripps Networks Interactive (SNI).
Best Cheapest Companies To Buy Right Now: TiVo Inc.(TIVO)
TiVo Inc., together with its subsidiaries, provides technology and services for television solutions, including digital video recorders (DVRs) and connected televisions in the United States and internationally. The company offers subscription-based TiVo service, which enhances home entertainment by providing consumers with a way to record, watch, and control live television, as well as to receive videos, pictures, and movies from cable, broadcast, and broadband sources in one interface. It also provides a platform for advertising and audience research measurement services. TiVo Inc. distributes the TiVo DVR through consumer electronics retailers and its online store at TiVo.com, as well as the TiVo service through agreements with satellite and cable television service providers; and broadcasting companies. As of January 31, 2011, it had approximately 1.5 million subscriptions to the TiVo service. The company was founded in 1997 and is headquartered in Alviso, California. Advisors’ Opinion:
- [By Lisa Levin]
TiVo Inc. (NASDAQ: TIVO) shares were also up, gaining 21 percent to $9.30. The New York Times, citing sources familiar with the issue, said Rovi Corporation (NASDAQ: ROVI) is in advanced negotiations to acquire TiVo. TiVo shareholders would reportedly receive both cash and stock; however, the price tag is yet to be determined.
- [By Lisa Levin]
TiVo Inc. (NASDAQ: TIVO) shares were also up, gaining 20 percent to $9.22. The New York Times reported that Tivo and Rovi Corporation (NASDAQ: ROVI) are in merger talks.
Top 10 Services Stocks To Invest In 2017: CYS Investments, Inc.(CYS)
CYS Investments, Inc., incorporated on January 3, 2006, is a specialty finance company. The Company invests in agency residential mortgage-backed security (Agency RMBS) collateralized by fixed rate single-family residential mortgage loans; adjustable-rate mortgages (ARMs), which have coupon rates that reset monthly, or hybrid ARMs, which have a coupon rate that is fixed for an initial period (approximately three, five, seven or 10 years). In addition, the Company permits investments in collateralized mortgage obligations (CMOs) issued by a Government agency or Government-sponsored entity that are collateralized by Agency RMBS, although it has not invested in any CMOs.
The Company invests principally in Agency RMBS, which are residential mortgage pass-through securities, the principal and interest of which are guaranteed by Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) or Government National Mortgage As sociation (Ginnie Mae). In addition to Agency RMBS, the Company invests in the United States Treasuries. The Company also invests in debt securities issued by the United States Department of the Treasury (the Unites States Treasury) or a Government-sponsored entity that is not backed by collateral but, in the case of Government agencies, are backed by the faith and credit of the United States Government, and, in the case of Government sponsored entities, are backed by the integrity and creditworthiness of the issuer. The Company sources its investments through relationships with a group of financial intermediaries, ranging from commercial and investment banks to specialty investment dealers and brokerage firms.
- [By Amanda Alix]
As the spread between short-term and long-terminterest rates began to contract, strangling profits, competition for MBSes also caused prices to rise. Other agency mREITs were nervous, too. CYS Investments (NYSE: CYS ) noted at the time that QE3 turned the Federal Reserve into the sector’s biggest rival for mortgage bonds, and as spreads began to shrink, so did dividends. By December of last year, Annaly, Armour, and Capstead Mortgage (NYSE: CMO ) had all trimmed their payouts.
Top 10 Services Stocks To Invest In 2017: Lands' End, Inc.(LE)
Lands’ End, Inc. (Lands’ End), incorporated on August 19, 1986, is a multi-channel retailer of casual clothing, accessories and footwear, as well as home products. The Company operates through two segments: Direct and Retail. The Company offers products through catalogs, online at www.landsend.com.
The Direct segment sells products through the Company’s e-commerce Websites, international Websites and direct mail catalogs. The Retail segment sells products and services through Lands’ End Shops at Sears across the United States, the Company’s standalone Lands’ End Inlet stores and international shop-in-shops. The Company’s retail properties consist of approximately 227 Lands’ End Shops at Sears, which averages approximately 7,700 square feet, 14 Lands’ End Inlet stores, which averages approximately 9,300 square feet, and over five shop-in-shops in the United Kingdom.
The Company’s product categories include Apparel and Non-apparel. The Non-apparel c ategory offers accessories, footwear and home goods. The Company provides embroidery, monogramming, gift wrapping, shipping and other services. It offers products for men, women and kids. It offers swimsuits, knit tops and tees, shirts and blouses, sweaters, pants, jeans, shorts, dresses, skirts, activewear, coats, sleepwear, shoes, accessories and bags for women. It offers dress shirts, casual shirts, polo shirts, knit tops and tees, shoes, bags, sweaters, swimwear and accessories for men. It offers swimsuits, tops, blazers and jackets, outerwear, and pants and leggings for kids. In addition, the Company offers sheets and pillowcases, duvet covers and comforters, blankets and throws, mattress pads, towels, rugs and mats, school uniforms and shower curtains.
- [By Monica Gerson]
Lands’ End, Inc. (NASDAQ: LE) is estimated to report its quarterly earnings at $0.02 per share on revenue of $293.24 million.
Posted-In: Earnings scheduleEarnings News Pre-Market Outlook Markets
Top 10 Services Stocks To Invest In 2017: World Energy Solutions Inc(DE)
World Energy Solutions, Inc. provides a range of energy management solutions to commercial and industrial businesses, institutions, utilities, and governments. It offers technology-enabled solutions, such as online audits of facilities to identify retrofit options and project management services for retrofit implementation, as well as cross-selling opportunities for commodity auctions. The company primarily focuses on retail and wholesale energy procurement clients via its online auction platforms, including the World Energy Exchange, the World Green Exchange, and the World DR Exchange. The World Energy Exchange enables energy consumers in North America to negotiate for the purchase or sale of electricity, natural gas, and other energy resources from energy suppliers who have agreed to participate on auction platform. The World Green Exchange enables buyers and sellers to negotiate for the purchase or sale of environmental commodities, such as renewable energy certificates , verified emissions reductions, and certified emissions reductions. The World DR Exchange enables curtailment service providers and energy consumers to negotiate in structured auction events designed to yield price transparency. The company was formerly known as World Energy Exchange, Inc. World Energy Solutions, Inc. was founded in 1996 and is headquartered in Worcester, Massachusetts.
- [By Lisa Levin]
Deere & Company (NYSE: DE) reported better-than-expected earnings for the third quarter and also boosted revenue forecast for the full year.
The company reported net earnings of $488.8 million, down from $511.6 million while EPS grew modestly from $1.53 to $1.55 due to lower share count. This was sharply higher than the Street estimates of $0.94 a share.
- [By Ben Levisohn]
Shares of Deere (DE) have jumped nearly 15% today after the maker of agriculture machinery beat earnings forecasts and announced cost cuts. The announcement led to one of my favorite ratings changes of all time: S&P Global Market Intelligence’s Jim Corridore upgraded Deere to Sell from Strong Sell:
We raise our 12-month target price to $80 from $70, 20X our FY 17 (Oct.) EPS estimate of $4.00 (unchanged today), well above Deere’s ten year average and above peers. We raise our FY 16 EPS estimate to $4.51 from $4.11 after Deere July-Qtr. EPS of $1.55 vs. $1.53 beat our $1.11 estimate. Revenues were worse than we expected, but Deere doing a great job cutting costs. EPS comparisons benefited from a 5.5% lower diluted share count. With end market conditions likely to remain unfavorable into calendar 2017, and given high valuation relative to peers and historic norms we remain negative.
Shares of Deere have climbed 14% to $87.68 at 3:31 p.m. today, what would be its biggest gain since jumping 16% on Dec. 8, 2008.
Top 10 Services Stocks To Invest In 2017: Shoe Carnival, Inc.(SCVL)
Shoe Carnival, Inc., together with its subsidiaries, operates as family footwear retailer primarily in the United States. It provides various dress, casual, and athletic footwear products for men, women, and children; and accessories, including socks, belts, shoe care items, handbags, jewelry, scarves, and wallets. As of January 30, 2016, the company operated 405 stores in 34 states and Puerto Rico. It sells its products through online shopping at shoecarnival.com. Shoe Carnival, Inc. was founded in 1978 and is headquartered in Evansville, Indiana.
- [By Jeroen Jongbloed]
Foot Locker (FL) is a retailer of athletic shoes and apparel which operates 3369 stores in the US, Canada, Europe, Australia and New-Zealand. On July 10th 2013, it completed its acquisition of Runners Point Group. In today’s article, I will be looking at FL’s revenue, net income, dividend and valuation. At certain points, I will use DSW, Inc. (DSW) and Shoe Carnival, Inc. (SCVL) for comparison.
Top 10 Services Stocks To Invest In 2017: Starbucks Corporation(SBUX)
Starbucks Corporation purchases and roasts whole bean coffees. It operates approximately 16,858 stores, including 8,833 company-operated stores and 8,025 licensed stores. The company offers approximately 30 blends and single-origin premium arabica coffees. It also provides handcrafted beverages, such as fresh-brewed coffee, hot and iced espresso beverages, coffee and non-coffee blended beverages, Vivanno smoothies, and Tazo teas; and merchandise products, including home espresso machines, coffee brewers and grinders, coffee mugs and accessories, packaged goods, music, books, and gift items. In addition, it offers fresh food items, which comprise baked pastries, sandwiches, salads, oatmeal, yogurt parfaits, and fruit cups. Further, it also provides VIA ready brew coffee, bottled frappuccino beverages, discoveries chilled cup coffee, doubleshot espresso drinks, iced coffee, whole bean coffee, and ice creams. The company?s brand portfolio includes Tazo tea, Ethos water, Seatt le?s Best Coffee, and Torrefazione Italia Coffee. Starbucks Corporation sells its products in approximately 50 countries worldwide. Starbucks Corporation was founded in 1971 and is based in Seattle, Washington.
- [By Lee Jackson]
Starbucks Corp. (NASDAQ: SBUX) was started as Outperform with an $80 price target (versus $72.14 close) at Wedbush.
Transocean Ltd. (NYSE: RIG) was raised to Outperform from Neutral with a $60 target price (versus $45.39 close) at Credit Suisse.
- [By Nelson Hem]
“Move Over, FANGs: Value Investing Is Rebounding” by Andrew Bary suggests that value investing could be on the verge of a multi-year comeback. That would be good news for the likes of Boeing Co (NYSE: BA), Citigroup Inc (NYSE: C) and Time Warner Inc (NYSE: TWX), but bad news for former high fliers like Amazon.com, Inc. (NASDAQ: AMZN), Netflix, Inc. (NASDAQ: NFLX) and Starbucks Corporation (NASDAQ: SBUX). The article offers 16 ways to play a rebound.
Top 10 Services Stocks To Invest In 2017: Charter Communications, Inc.(CHTR)
Charter Communications, Inc. (Charter), incorporated on July 22, 1999, is a provider of cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. The Company operates through broadband services segment. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services. The Company’s infrastructure consists of a hybrid of fiber and coaxial cable plant with approximately 12.8 million estimated passings, with over 98% at approximately 550 megahertz (MHz), over 99% of plant miles two-way active and approximately 100% of plant all-digital. The Company sells its video, Internet and voice services primarily on a subscription basis, often in a bundle of two or more services. It offers Charter Spectrum brand in its all-digital markets. Digital video enables its customers to access advanced video services, such as high definitio n (HD) television, video on demand programming, an interactive program guide and digital video recorder (DVR) service. Through Spectrum Business, it provides tailored broadband communications solutions to business and carrier organizations, such as video entertainment services, Internet access, business telephone services, data networking and fiber connectivity to cellular towers and office buildings. Its advertising sales division, Spectrum Reach, provides local, regional and national businesses with a focus on advertising in individual markets on cable television networks. Through its hybrid fiber and coaxial cable network, the Company offers its customers traditional cable video services, as well as advanced video services (such as video on demand, HD television, and DVR service), Internet services and voice services. The Company’s voice services are provided using voice over Internet protocol (VoIP) technology, to transmit digital voice signals over the Company’s systems .
The Company’s network includes approximately ! three components, including the national backbone, regional/metro networks and the last-mile network. Both its national backbone and regional/metro network components utilize or plan to utilize a redundant Internet Protocol (IP) ring/mesh architecture. The national backbone provides connectivity from the regional demarcation points to nationally centralized content, connectivity and services. The regional/metro network components provide connectivity between the regional demarcation points and headends within a specific geographic area and enable the delivery of content and services between these network components. Its last-mile network utilizes a hybrid fiber coaxial cable (HFC) architecture, which combines the use of fiber optic cable with coaxial cable.
The Company’s video service offerings include Video; Video On Demand, Subscription On Demand and Pay-Per-View; High Definition Television; Digital Video Recorder; Spectrum TV Appli cation on Mobile Devices; Spectrum TV Application on Immobile Devices, and Spectrum Guide. The Company’s customers receive a package of basic programming, which consists of local broadcast television, local community programming, including governmental and public access, and limited satellite-delivered or non-broadcast channels, such as weather, shopping and religious programming along with a digital set-top box that provides an interactive electronic programming guide with parental controls, access to pay-per-view channels, including video-on- demand (available nearly everywhere), digital quality music channels and the option to also receive a cable card. Customers have the option to purchase additional tiers of services, including premium channels, which provide programming, commercial-free movies, sports and other special event entertainment programming. In most areas, the Company offers video-on- demand service, which allows customers to select from approximately 10,000 or more titles at any time. Video-on-demand includes standar! d definit! ion, HD and three-dimensional (3D) content. Video-on- demand programming options may be accessed if the content is associated with the customer’s linear subscription, or for a fee on a transactional basis. Video-on-demand services may also be offered on a subscription basis included in a digital tier premium channel subscription or for a monthly fee. Pay-per-view channels allow customers to pay on a per-event basis to view a single showing of a recently released movie, a one-time special sporting event, music concert, or similar event on a commercial-free basis. HD Television offers the Company’s digital customers video programming at a higher resolution to manage picture and audio quality versus standard basic or digital video images. The Company offers over 200 HD channels.
The Company’s Digital Video Recorder service enables customers to digitally record programming and to pause and rewind live programming. Charter customers may lease multiple DVR set-top box es to maximize recording capacity on multiple televisions in the home. Its customers also have the ability to program their DVRs remotely via the Spectrum TV Application or on the Company’s Website. The Spectrum TV Application enables Charter video customers to search and discover content on various customer owned devices, including the iPhone, iPad, and iPod Touch, as well as the Android-based tablets. The Spectrum TV Application allows customers to watch over 150 channels of cable television and use the device as a remote to control their digital set-top box while in their home. It also allows customers the ability to browse Charter’s program guide, search for programming, and schedule DVR recordings from inside and outside the home. Charter offers the Spectrum TV Application on Roku devices. This application enables all Charter video customers with a Roku device to watch live linear programming via the Spectrum TV Application. It offers Spectrum Guide, a network or cloud- based user interface with a similar look and feel of the Spe! ctrum TV ! Application.
The Company’s residential Internet services offer its residential customers multiple tiers of Internet services with download speeds of approximately 100 Megabits per second (Mbps), and approximately 120 Mbps in certain markets. The Company’s Internet services also include an Internet portal, Charter.net, which provides multiple e-mail addresses. Charter Security Suite is included with Charter Internet services and protects computers from viruses and spyware, and provides parental control features. Charter offers an in-home wireless fidelity (WiFi) product permitting customers to lease a wireless router to manage their wireless Internet experience. Charter offers an out-of-home WiFi service (Spectrum WiFi) in over four market areas permitting Internet customers to access the Internet at designated hot spots within a particular market.
The Company provides voice communications se rvices primarily using VoIP technology to transmit digital voice signals over its network. The Company’s voice services include unlimited local and long distance calling to the United States, Canada and Puerto Rico, voicemail, call waiting, caller identity (ID), call forwarding and other features and offers international calling either by the minute or through packages of minutes per month. For Charter Voice and video customers, caller ID on television is also available in most areas.
Commercial services offered through Spectrum Business include broadband communications solutions for businesses and carrier organizations of all sizes, such as Internet access, data networking, fiber connectivity to cellular towers and office buildings, video entertainment services and business telephone services. Charter offers basic coax service primarily to small businesses (1-19 employees) and medium (20-199 employees) businesses similar to its residential offerings. Spectrum Business includes a full ran! ge of vid! eo programming tiers and music services, and coax Internet speeds of approximately 100 Mbps downstream, over 200 Mbps in certain markets, and approximately seven Mbps upstream in its DOCSIS 3.0 markets. Spectrum Business also includes a set of business cloud services, including Web hosting, e-mail and security, and multi-line telephone services with over 30 business features, including Web-based service management. Charter offers fiber or complex services to medium and large (200+ employees) businesses, including fiber Internet with symmetrical speeds of approximately 10 Gbps and voice trunking services, such as Primary Rate Interface (PRI) and Session Initiation Protocol (SIP) Trunks, which provide higher-capacity voice services. Charter also offers Metro Ethernet service that connects two or more locations for commercial customers with geographically dispersed locations with services of approximately 10 Gbps. Metro Ethernet service can also extend the reach of the customer ‘s local area network (LAN) within and between metropolitan areas. In addition, Charter offers large businesses with multiple sites specialized solutions, such as custom fiber networks and Metro and long haul Ethernet. Charter also offers last-mile data connectivity services to wireless and wireline carriers, Internet Service Providers (ISPs) and other carriers on a wholesale basis.
The Company’s advertising sales division, Spectrum Reach, allows local, regional and national business to advertise in individual markets on cable television networks. In any particular market, it inserts local advertising on over 50 channels. In most cases, the available advertising time is sold by its sales force, however in some markets, it enters into representation agreements with contiguous cable system operators, under which another operator in the area will sell advertising on its behalf for a percentage of the revenue. In some markets, it se lls advertising on behalf of other operators. Charter deploy! s Enhance! d TV Binary Interchange Format (EBIF) technology to set-top boxes in most service areas within the Charter footprint. EBIF is a technology foundation that will allow Charter to deliver television applications for advertising. From time to time, certain of its vendors, including programmers and equipment vendors, purchase advertising from Charter.
The Company competes with AT&T Inc., Verizon Communications, Inc., Google Fiber, Hulu, Netflix, Amazon, Apple, HBO, Showtime, CBS, Sony, T-Mobile and DISH Network.
- [By Benzinga News Desk]
Oppenheimer downgraded Verizon (NYSE: VZ) to Perform.
Stifel downgraded Disney (NYSE: DIS) to Hold.
Argus upgraded Johnson & Johnson (NYSE: JNJ) to Buy.
Canaccord upgraded Diamondback Energy (NASDAQ: FANG) to Buy.
RBC initiated coverage on Panera Bread (NASDAQ: PNRA) at Outperform.
Argus started Charter (NASDAQ: CHTR) at Buy.
- [By Harold L. Vogel]
For cable networks and distributors, first admire the long-term pricing power for cable services (shown in the chart below). Price increases have far exceeded the rate of gain of the Consumer Price Index (CPI) for decades and thereby supported the stock prices and earnings growth of the entire industry (even though some companies such as Charter (CHTR) stumbled into bankruptcy even with this pricing wind at their backs).
Top 10 Services Stocks To Invest In 2017: MercadoLibre Inc.(MELI)
MercadoLibre, Inc., together with its subsidiaries, hosts online commerce and payments platforms in Latin America. Its services are designed to provide its users with mechanisms to buy, sell, pay for, and collect on e-commerce transactions. The company principally offers MercadoLibre marketplace, an automated online commerce service, which permits businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. Its MercadoLibre marketplace enables registered users to list and purchase motor vehicles, vessels, aircraft, real estate, and other services through online classified listings; and Internet users to browse through various products and services that are listed on its Website and to register with MercadoLibre to list, bid for, and purchase items and services. The company also provides MercadoPago, an integrated online payments solution to facilitate transactions on and off the MercadoLibre marketplace by providing a mechanism that allows its users to send and receive payments online. In addition, it offers MercadoClics advertising program that allows businesses to promote their products and services on the Internet. This program enables users and advertisers to place, display, and/or text advertisements on its Web pages to promote their brands and offerings. Further, the company provides MercadoShops on-line stores solution, a software-as-a-service, which allows users to set-up, manage, and promote their own on-line Webstores. As of December 31, 2010, the company operated online commerce platforms directed towards Argentina, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Mexico, Panama, Peru, Uruguay, and Venezuela; online payments solutions directed towards Argentina, Brazil, Mexico, Venezuela, Chile, and Colombia; and a real estate classified platform that covers various areas in Florida. The company was founded in 1999 and is headquartered in Buenos Aires, Argentina.
- [By Scott Rubin]
Stock gainers included Mercadolibre Inc (NASDAQ: MELI), up almost 14 percent, and Nu Skin Enterprises, Inc. (NYSE: NUS), which added 12 percent. The positive gains in both stocks were due to strong earnings reports. Shares of Liberty Interactive Group (NASDAQ: QVCA) plunged almost 22 percent on Friday due to disappointing sales growth in its fiscal second quarter. Pharmaceutical giant Bristol-Myers Squibb Co (NYSE: BMY) lost 16 percent after a disappointing study involving its Opdivo drug.
- [By Roberto Pedone]
Mercadolibre (MELI) operates an online trading site for the Latin American markets. This stock closed up 7.1% at $128.50 in Monday’s trading session.
Monday’s Volume: 814,000
Three-Month Average Volume: 479,008
Volume % Change: 69%
From a technical perspective, MELI ripped higher here right above its 50-day moving average of $117.07 with above-average volume. This move pushed shares of MELI into breakout territory, since the stock took out some near-term overhead resistance at $125.30. Shares of MELI are now quickly moving within range of triggering another big breakout trade. That trade will hit if MELI manages to take out some more near-term overhead resistance at $130.74 with high volume.
Traders should now look for long-biased trades in MELI as long as it’s trending above $125 or $124 and then once it sustains a move or close above $130.74 with volume that’s near or above 479,008 shares. If that breakout triggers soon, then MELI will set up to re-test or possibly take out its 52-week high at $136.52.