Google (GOOG) will announce earnings tonight after the bell and many traders are hopeful; looking toward a positive release to shift the current bearish tone in the technology sector and overall market.
Estimates are for around $6.50 per share on the top line on revenues of $4.92 bln. In addition to its actual performance, the company’s recent comments regarding their future plans in China will be closely monitored in the conference call.
In the past year Google has moved anywhere from 20% on earnings to less than 3% most recently.
The front month option straddle is priced at around $45, which to me could indicate about a 5.5% expected move (up or down) for earnings.
Photo Credit: Yodel Anecdotal
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