THE search giant Google has seen its share price rallying hard since the start of September, helped somewhat by recent broker upgrades. Google’s global audience has the potential to be recession proof. With this in mind there is something of an expectation for the company to deliver the goods on Thursday -- at least virtually -- when third quarter earnings are announced. After its recent gains there is a temptation to book some quick profits. The current IG Markets price on Google is $536.31-$536.35.
One of the world's largest providers of engineering, design and information management solutions Aveva Group has its preliminary report due on Wednesday. The company has offered a stellar performance so far this year, with its shares climbing 50 per cent to a high of 1,504p just a week ago. Since then profit taking has slipped to its 60 day moving average at 1,392p, but look to buy around the 1,350p level for a fresh assault on the all-time highs of 1,640p. Spread Co offers a spread on Aveva Group of 1,391p-1,395p.
Across the water, the global financial services giant JPMorgan Chase also reports its third quarter earnings on Wednesday and investors will be looking for an update on the decline in loan losses and whether the company will reveal a possible timeframe for reinstating their dividend payment. There is a very solid support level around the $39 level, so now might be a good time to buy for a run at the resistance level around $41.50. Spread Co currently offers is a spread of $39.80–$39.87.
Consolidation is underway for the travel industry as it struggles its way out of the recession. Thomas Cook’s announcement of a merger with the Co-op Group could create a formidable force in the sector, becoming the UK’s largest travel agency. ETX Capital is quoting 189.37p-189.53p for the CFD.
The UK’s largest pub and bar operator Punch Taverns has its annual report due out on Tuesday. Its shares are trading at their highest level for four months. The CMC Markets spread is 91.281p-91.769p.
Burberry’s share price has had a storming year, outperforming almost every other stock in the market. But the good times cannot roll forever. With results due on Wednesday and a winter of austerity around the corner it might be time to take a view on the downside of the stock price. Capital CFDs is quoting 1,033.7p-1,038.3p.