Market 2018-05-01 (AAPL, GILD, and more)

It has been quite busy lately. I am writing a short version today.

Market is supported by Tech today. Nasdaq has a good start in May, led by Apple (AAPL +2.3%), Intel (INTC +3.3%) and Microsoft (MSFT +2%).

Treasury yields rise again, which is behind the selloff this morning.

Crude -1.69% to $67.41. Gold -1.01% to $1,305.90. UUP +0.66%.

PFE -3.3% as breast cancer drug disappoints.

GRUB -8.4% despite solid Q1 beats. Share price has been doubled in the past year.

Shopify -4.7% despite ER beats.

STX -6.4% on Tariff concerns, despite ER beats.

Apple reported ER beats in AH, shares +3.8%. The recent ER rally is mainly due to the dividend hike and massive buyback plan ($100B). It will be interesting to see what is the plan to grow revenue in future.

GILD reported ER losses, shares -5.5%. I believe this might be the turning point, as there is not much room for HCV drugs to fall. The company stands by their guidance published in Feb.

SNAP -16% in AH as revenue gains fail to hit consensus.

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