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Two Ways To Play: Costco Marches to Own Earnings Beat

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Strengthen your portfolio in good times and bad.

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Costco Blows Past Consensus

Costco (COST) is out with earnings this morning. According to Reuters, first-quarter profits came in at $0.65 per share, above consensus estimates of $0.62 per share.

Quarterly sales rose nearly 4% to $16.04 billion, less membership fees, which rose to $358.7 million from $338 million. Same-store sales also rose 1%. Earnings may have been higher, but were hurt by non-food discretionary items and related reductions.

From the Bull Pen
: If Costco's stock falls and can hold near $50, watch for a potential inverse head-and-shoulders pattern developing. Entry if and when - and keep in mind overhead resistance at $55 and $60.

From the Bear Cave: Retail bears can consider Amazon (AMZN). Is the stock encountering resistance at its 50 DMA? Those attempting the downside can set a buy stop 2 points from entry.


Quick Check Around the World

Asian trading closed with the Hang Seng 0.23%, Nikkei 0.70%, Sensex -0.10%, Taiwan -0.07% and Shanghai -0.07%.

Glancing towards Europe, we see the CAC -0.38%, DAX -0.64%, FTSE 0.31%,

As of 8:15 a.m. EST, S&P futures are trading -3.0 to 892, and Nasdaq futures are -0.5 to 1216.


A Look At Commodities

Crude oil is trading +2.34 to 45.86. Gold is +25.00 to 832.50. Silver is +0.095 to 10.26, and copper is unch at 146.90.

The dollar index is -1.295 to 84.189.


On the Radar

Economics

08:30 Trade Balance
08:30 Import Price Index (MoM)
08:30 Import Price Index (YoY)
08:30 Initial Jobless Claims
08:30 Continuing Claims

Click here for the full trading radar.

Good luck today!

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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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