Forex Minute Trade Plan – Hot Stock Tips 22/04/2014

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Forex Minute Trade Plan - Hot Stock Tips 02/05/2014

Forex Minute Trade Plan - Hot Stock Tips 21/04/2014

Global markets reopened today following the Easter break, meaning there will likely be some intraday volatility from which traders can glean a profit. Here are a couple of stocks to keep an eye on.

Comcast Corporation (CMCSA)

First up is media and technology giant Comcast. The company’s stock has had a pretty hard time lately, currently trading close to 10% lower than it was mid-February. Today however, Comcast looks likely to regain some strength on its latest earnings report. The company reported consolidated 1st Quarter 2014 financials early US morning, stating an increase in consolidated revenue of 13.7%, an increase in operating cash flow of 10.0% and an increase in operating income of 16.3%.

Some analysts believe the boost came primarily as a response to its winter Olympics coverage (and the able sign ups this brought), but regardless of the driver, EPS is up at 60 cents from 51 last year so expect some near term upside. The stock is up 5% before the bell at 51.00. Look for an initial upside target of February highs at 55.24.

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The Bank of New York Mellon Corporation (BK)

Next up is The Bank of New York Mellon Corporation. An age old favorite among growth investors, this asset management company has also lost strength over the past month, likely in response to the overarching market correction in the major US indices.

Another earnings release play, The Bank of New York Mellon reported its 1st Quarter 2014 financials around the same time as Comcast, reporting gains in all the right areas. Pre-tax earnings were up 12% year over year, return on equity was up 18%, and the board has approved a 13% dividend increase. With a net income applicable to common shareholders of $661 million, or $0.57 per diluted common share, expect some upside strength in BK stock as the day matures. Currently trading at 33.71, look for an initial upside target at 34.00 flat. Beyond that, look to April highs at 33.59 as a potential secondary goal.

To contact the reporter of this story: Samuel Rae at Samuel@forexminute.com