Cloudera shares were climbing on Friday on reports that activist investor Carl Icahn has taken a 12.6% stake in the company. According to regulatory filings, Icahn along with his associated businesses have built up the stake in the data analytics software company on their perception that Cloudera shares were undervalued. Cloudera shares are down more than -36% on the year, following a disappointing revenue forecast in early June and rating downgrades from analysts. 

On Friday, International Business Machines (IBM)  made an update on the earnings impact of its $34 billion acquisition of open-source software firm Red Hat. Information tech giant IBM said the acquisition could potentially reduce non-GAAP operating earnings for the full-year 2019 by $1.10 to "at least" $12.80 per share, compared to the $13.90 per share forecast the company published in its second-quarter earnings report on July 16. However, the company reiterated its 2019 free cash flow estimate of $12 billion.It predicts a "high single-digit" growth rate in overall operating pre-tax income for the 2020-2021 period.  Last month, IBM reported non-GAAP earnings of $3.17 per share which surpassed analysts’ estimates.

Sprint Corp. incurred a fiscal first quarter loss, but that’s what the Street has been expecting.  The telecommunications behemoth’s loss for the three months ending in June came in at -3 cents per share, compared to positive earnings  of 4 cents per share in the year-ago quarter. Revenues from wireless business declined -3% year over year to $5.3 billion.

United States Steel Corp. beat Wall Street's second-quarter earnings and revenue expectations, but reported substantial decline in profit from the year-ago period. The steel producer reported adjusted earnings of 45 cents a share, which surpassed analysts’ expectation of 40 cents a share.However, the earnings-per-share figure marks a large decline from $1.46 a share of the same period last year. Sales came in at $3.5 billion, lower than the year-ago quarter’s $3.6 billion, but still exceeding Wall Street's $3.4 billion forecast.

Pluralsight’s second-quarter billings came in lower than expected, while the company issued guidance below analysts’ forecasts. The online tech education company reported second-quarter loss of -30 cents a share, wider than the year-ago quarter’s loss of -19 cents a share.Adjusted losses came in at -6 cents a share,  compared to analysts’ expectations of adjusted earnings of 14 cents a share. Revenue grew to $75.9 million, from $53.6 million in the year-ago period, and was higher than analysts’ estimate of $73.8 million.  But Pluralsight’s second-quarter billings of $80.6 million came in below the expected $89.1 million. For the third quarter, Pluralsight has projected revenue of $79.5 million to $80 million  - a range lower than the $82.6 million forecasted by analysts. The company expects third-quarter adjusted loss per share of -13 cents to -15 cents per share, compared to the consensus estimate of an -11 cent loss.

Kellogg Co. beat analysts’ expectations on its second quarter sales and earnings. Excluding items, the food manufacturing company earned 99 cents per share, surpassing analysts’ expectations of 92 cents. However, the company’s overall net income plunged -52% year-over-year to $286 million, largely owing to  restructuring and divestment costs and a lower tax rate in the prior-year period.Higher input costs and a strong dollar also weighed on profits. Kellogg’s total net sales increased +3% year-over-year to $3.46 billion, beating the average analyst estimate of $3.41 billion, (based on IBES data from Refinitiv).

The company also got a rating upgrade from analysts at J.P. Morgan.  The cloud technology company’s second-quarter earnings came in at of 20 cents a share, higher than  analysts’ expectation of 12 cents a share.Revenue increased +27% year-over-year to $77.4 million, close to  analysts’ estimates.  What’s more, analysts at J.P. Morgan upgraded Five9 stock to overweight from neutral, while also increasing their price target on the shares to $70 from $59. 

Cirrus Logic beat analysts’ expectations on its fiscal first-quarter earnings and revenue, sending its shares soaring on Thursday. The semiconductor company reported adjusted earnings of 35 cents a share, which surpassed analysts’ estimate of 15 cents. Although revenue declined from $254.4 million a year ago to $238.3 million in the quarter, it was still higher than the Street's forecast of $221.9 million.The year-over-year drop in revenue has been attributed by Cirrus to mainly lower sales of portable products shipping in smartphones, along with digital headsets and adapters, which were offset to some extent by increased amplifier sales at Android customers. For the second quarter, Cirrus has projected revenue to range between $300 million and $340 million.

Verizon Communications reported second quarter earnings that topped analysts’ expectations, while raising its outlook for the full-year. The telecommunications giant’s earnings for the three months ending in June increased +2.5% year-over-year to $1.23 per share, which is 3 cents ahead of the Street consensus estimate. Verizon added a net 245,000 telephone subscribers over the quarter, beating the 163,000 estimated (on consensus) by analysts polled by FactSet. Total revenue of $32.1 billion, however, and fell slightly below analysts' forecasts of $32.42 billion.  For the full-year 2019, Verizon is expecting a low single-digit percentage growth rate for adjusted earnings, compared to its prior forecast of flat growth.

The company also experienced a solid growth in second-quarter revenue. The e-commerce company’s adjusted earnings for the quarter came in at 14 cents a share, crushing analysts’ expectations of 3 cents a share. The quarterly revenue surged +48% to $362 million, also higher than analysts’ estimates of $350 million.  Looking ahead, Shopify has projected revenue between $1.51 billion and $1.53 billion for the full year.For the third-quarter, it expects revenue to range between $377 million and $382 million. 

Micron Technology shares got a rating upgrade by Morgan Stanley, on hopes for near-term boost from rising DRAM prices. Morgan Stanley analysts raised their rating on the computer memory/data storage company’s stock to equal weight from underweight.If cloud and smartphone inventory builds reaccelerate, Micron could experience tailwinds in 2020 and its stock could touch new highs – according to Moore.

Grubhub shares slumped on Tuesday, after the online food ordering & delivery company reported adjusted second-quarter earnings that missed analysts' estimates. The company’s earnings came in at 1 cent a share in the second quarter, down -96% from 33 cents a share in the year-earlier quarter.Adjusted earnings per share was 50 cents a year earlier. Total costs and expenses rose +55.3% to $318.9 million. However, the company’s revenue for the quarter surged +36% to $325.1 million, beating analysts’ estimate of $318.2 million. Grubhub said that active users of its website increased +30% to 20.3 million, and daily average orders went up +16% to almost 489,000. Looking ahead, the company expects revenue of $320 million to $340 million for the third quarter, compared to FactSet's consensus expectation of $331.7 million.

On Tuesday, Altria Group reported second-quarter adjusted earnings that was almost in line with analysts' expectations.Its prior forecast of the decline was -3.5% to -5%. Altria also revised its expectations of total domestic cigarette industry volumes decline to -4% to -6% through 2023, compared to the previously forecast range of -4% to -5%.

Steel (NYSE: X) is scheduled to report second quarter earnings results after the closing bell on August 1.The indicators are approaching the same levels they hit in February before the stock rolled over and fell another 50%. The Tickeron Trend Prediction Engine generated a bearish signal for U.S. Steel on July 23 and that signal calls for a drop of at least 4% within the next month.

While the sector has only matched the overall market, Arconic (NYSE: ARNC) has more than doubled the XLB and the S&P. Since the December low, Arconic has rallied almost 60%.The indicators made a bullish crossover on July 24 and that could be a sign that the rally will resume. The Tickeron Trend Prediction Engine generated a bullish signal for Arconic on July 22 and it showed a confidence level of 89%.

HUYA Inc. (NYSE: HUYA) operates an internet gaming platform in China.The company has been doing well in recent years and the stock has been trending higher. We see on the daily chart that the stock hit a low in early December and then jumped sharply higher before pulling back again.

The parent company of Google also revealed its $25 billion additional stock buyback plan. Alphabet’s adjusted earnings for the quarter came in at $14.21 per share, wee above the $11.30 per share expected by analysts surveyed by Refinitiv. Total revenue of $38.94 billion also exceeded analysts’ estimate of $38.15 billion. Even traffic acquisition costs of $7.24 billion for the tech giant were lower than the $7.27 billion expected, according to StreetAccount.Traffic acquisition costs incurred as a percentage of Google advertising revenues was slightly lower this year compared to the previous year’s quarter. While cost-per-click on Google properties declined -11% year-over-year in Q2, paid clicks on Google properties surged + 28% over the same period. Alphabet also said that its board of directors have approved a repurchase of up to an additional $25 billion of its Class C capital stock.

Twitter posted higher-than-expected adjusted earnings for its second quarter, along with reporting strong growth in its number of daily active users. The social networking company’s adjusted earnings came in at 20 cents per share, compared to the 19 cents per share expected by analysts polled by Refinitiv. Total revenue for the company increased +18% year over year to $841 million, which exceeded analysts' estimate of $829.1 million (per Refinitiv survey). According to Twitter,  it achieved an average of 139 million monetizable daily active users (mDAUs) in the second quarter, which is +14% higher from the year-ago quarter.International average mDAUs were 110 million in the quarter, +15% higher from the year-ago period. Twitter said that its total advertising revenue increased +21% year-over-year (or +23% on a constant currency basis) to $727 million in the quarter.

McDonald's Corp. reported second quarter earnings that were in line with analysts’ expectations, while the fast food chain’s comparable store sales surpassed expectations.  The company’s adjusted earnings for the three months ending in June came in at $2.05 per share, up 6 cents from the same period last year and largely matching the Street consensus estimates. Total revenues declined -0.4% year-over-year to $5.34 billion, but exceeded analysts' estimates of $5.32 billion. Yea-over-year growth in global same-store sales came in at 6.5% in the quarter.Comparable U.S. sales grew +5.7%, a faster rate than the Street estimate of +4.5%.  CEO Steve Easterbrook emphasized that the restaurant chain has now experienced 16 consecutive quarters of positive global comparable sales.

Dow Inc.’s second quarter adjusted earnings, though beat analysts’ estimates, fell sharply from the year-ago period. The chemical and industrial products maker's net income declined to $75 million (or 10 cents a share), from $1.33 billion, (or $1.78 a share) in the year-ago period.It missed FactSet consensus of $11.29 billion. The company lowered its spending outlook by -25% to $2 billion in 2019, and said that it would delay a 450,000-ton polyolefins plant expansion in Europe and a feasibility study for a new siloxanes plant. Dow Inc. has projected third-quarter revenue of $10.50 billion to $11 billion, a range lower than estimates of $12.03 billion. "Macro environment is cautious, largely driven by geopolitical volatility and prolonged trade negotiations," Chief Executive Officer Jim Fitterling said on a post-earnings call.