Shares of technology bellweather, Intel Corp. (NASDAQ: INTC), are surging ahead of the company's earnings report which is expected after the closing bell. The stock has gained 1.99% to $20.98 during Tuesday's trading session.
Wall Street analysts are anticipating the company will report $0.43 per share on revenue of $10.25 billion. In the year ago quarter, INTC reported EPS of $0.18.
Intel almost always delivers the goods when it reports quarterly numbers. The problem, however, is the stock frequently declines no matter how strong the earnings are.
Despite being one of the highest quality companies in the world, INTC shares have actually fallen 23% over the last 5 years. If the past is any indication, It is going to take something extremely impressive to move INTC appreciably higher in the near-term.
Traders looking to take some risk should consider using today's strength in the stock to buy a put spread on INTC prior to the earnings release. Look for the company to issue strong top and bottom line numbers, cautious guidance, and for the stock to pull back to under $21.00 tomorrow.
Source: www.benzinga.com
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