Can earnings Thursday revive Google’s slumping shares – down a remarkable 20% so far this year?
Don’t count on it. Guy Adami noted that this is the first quarter of downgrades for this loved tech stock. The trade is going to be volatile before and after earnings, he said. It could move down precipitously if it doesn’t knock it out of the park.
Jeff Macke wouldn’t get in front of GOOG on its earnings. If it reports great things it’s down 10 points. If it’s horrible, it could tick down 50 in a hot second. That’s the way earnings seem to work these days, he said.
But Pete Najarian is starting to find the price attractive again after ramping so much last year. Because the company doesn’t give guidance, the Street could easily be surprised and send shares higher, he said. After all, Google is still the king.