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Good morning contrarians! Another day of gains yesterday was followed with Google ($GOOG) beating earnings estimates and announcing a 20-for-1 stock split. AMD ($AMD.X) also beat estimates and issued a strong sales outlook for the year. Those stocks rallied big time overnight, both up over 10%.

On the losing side of last night’s earnings were Starbucks (SBUX) and PayPal ($PYPL), the latter down 17%.

It’s another major day for earnings. It’s another major day for earnings. ThermoFisher Scientific ($TMO), Boston Scientific ($BSX), Humana ($HUM), and Marathon Petroleum ($MPC) have already reported. All but HUM beat on top- and bottom-line estimates and those stocks are moving higher in the pre-market. Later this morning we will hear from AbbVie ($ABBV) and DR Horton ($DHI).

After the close at 1600 we’ll get T-Mobile ($TMUS), Qualcomm ($QCOM), Meta Platforms, the company formerly known as Facebook ($FB), and Spotify ($SPOT). MetLife ($MET) and McKesson ($MCK) also report at some point today.

What else we’re watching today:
contrarianpod.substack.com
Peak Earnings: Daily Contrarian, Feb. 2
Blowout results from Google/Alphabet and AMD have tech stocks rallying again. Several companies report today, including Meta/Facebook…

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