China’s largest online direct sales company, JD.com (JD), reported better-than-expected second-quarter earnings Friday. JD.com also announced plans to invest $700 million in supermarket chain Yonghui Superstores for a 10% stake. JD.com reported revenue of $7.4 billion, or 45.9 billion Chinese yuan, up 61% in local currency from the year-earlier quarter and topping the consensus estimate of $7.15 billion. It was the 10th straight quarter of
Arista Networks (ANET) stock rose as much as 7.3% Friday and flirted with touching a possible buy point, after Q2 earnings reported late Thursday beat Wall Street expectations. Arista stock, however, was up just 1% in afternoon trading in the stock market today, near 82.50. Shares have a possible buy point at 88.66 out of a cup-with-handle base. Arista stock so far Friday has peaked at 87.60. Since going public in June 2014 at 43, the stock had a
IBD’s latest Screen of the Day is Accelerating Mutual Fund Ownership, which lists the companies that mutual funds have been loading up on recently. The semiconductor sector had been hot this year, but Apple’s (AAPL) recent slide after it reported lower-than-expected iPhone sales dragged down many of its chip suppliers, including Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO), NXP Semiconductors (NXPI) and Avago Technologies (AVGO).