Later recorded after-hours observations were lower: WDC at 337.72 and Bloom at 206.34 on Nasdaq. The video retains its earlier recorded observations.
October 22 After Close
Good evening, everyone. Thursday's selloff put this morning's reclaim levels to the test, and most were not reclaimed. Tonight, Bloom Energy and Western Digital give us two fresh earnings reports to work through. Both reported strong revenue growth. The next questions are how much of that growth turned into cash, and whether the shares can repair their charts.
SPY: morning reclaim not recovered
Start with SPY. It closed around seven hundred sixty-four, down one point one seven percent. This morning, the first job was to recover Wednesday's low around seven hundred sixty-eight. Thursday's high stayed below that level. The close also remained below the fifty-day average near seven hundred sixty-eight, although it finished above last Friday's closing level around seven hundred sixty-three. Trading below that Friday level during the day and recovering it by the close are different observations.
QQQ: short-term weakness and the longer trend
QQQ was weaker, closing around seven hundred four, down two point eight six percent. It never reached Wednesday's low near seven hundred twenty, and it finished below last Friday's close near seven hundred ten. The fifty-day average is now around seven hundred twenty-six; the two-hundred-day is near six hundred seventy-seven. The decline from October sixth's closing peak is about seven percent. A bounce would need a daily retest and close above a reclaimed reference before we call it confirmation.
Bloom Energy: reported growth and cash use
Bloom reported September-quarter revenue of about one point two four billion, up one hundred thirty-eight percent from a year earlier. GAAP earnings were seventy-eight cents a share; the separate adjusted figure was ninety-four cents. GAAP operating margin reached eighteen point two percent. Those are meaningful improvements in the operating business.
The cash picture deserves equal attention. Bloom used about twenty-seven million in operating cash during the quarter and spent about one hundred fifty-three million on property and equipment. Subtracting that spending gives a cash deficit of roughly one hundred eighty-one million. That is our arithmetic, not a company-reported free-cash-flow measure. Working capital absorbed cash, including contract assets and inventory; that alone does not establish that customers will fail to pay.
Bloom also raised full-year revenue guidance to four point four to four point six billion. Guidance is an expectation, not money already earned. Before the report, the stock closed around two hundred eighteen, down almost nine percent and just below its two-hundred-day average near two hundred nineteen. The fifty-day sits much higher, near two hundred forty-nine.
In the separate recorded after-hours snapshot, Bloom was around two hundred nine, about four percent below its regular close. That snapshot can change. The earnings improvement has not yet translated into a chart reclaim.
Western Digital: earnings and company free cash flow
Western Digital reported fiscal first-quarter revenue of four point three eight billion, up fifty-five percent. GAAP earnings were four sixty-three a share, compared with adjusted earnings of four sixty-four. The accounting bases remain separate, even when the latest numbers are close. Its GAAP operating margin was forty-six point seven percent.
Here, cash generation was substantial: about one point six billion from operations and one point three eight billion of company-reported free cash flow after net capital spending. That free cash flow comes before share repurchases, dividends and debt settlement. It is not all cash left in the bank. For the next quarter, management guided to five point zero to five point two billion of revenue and adjusted earnings of five sixty to six a share.
In its separate recorded after-hours snapshot, Western Digital was around three hundred fifty, about one percent below its regular close. Strong reported results and a positive stock reaction are different tests.
Western Digital's completed close was around three hundred fifty-four, down six point four three percent before these results. Wednesday's low near three hundred sixty-seven is an initial reclaim reference. Its two-hundred-day average near four hundred fourteen and fifty-day near four hundred thirty-six remain well overhead. An after-hours move does not establish tomorrow's daily close.
Revisiting Tesla, Meta and Lam
A quick check on this morning's other names. Tesla closed around three hundred seventy-five. It stayed above the twenty-day average all session, but failed to finish above Wednesday's low near three hundred eighty-one or the two-hundred-day near three hundred eighty-seven.
Meta closed around six hundred forty-nine, below the fifty-day near six hundred sixty-three but above the two-hundred-day near six hundred thirty-three.
Lam closed around two hundred thirty, below July's closing low near two hundred fifty-two and below both longer averages. Its full decline from June's closing peak is now about forty-seven percent; today's chart is not a recovered version of that decline.
Qualifying-watchlist movers
Now the movers within our qualifying watchlist. These rankings use one hundred ninety-eight verified stocks and depositary receipts above five billion in market value. Two additional eligible names, Carrier and American Airlines, remain excluded while their price records are reconciled. This is not a ranking of the entire market.
Spotify led, up eleven point zero nine percent, above its fifty-day and two-hundred-day averages. Its chart uses closing prices because today's supplied opening price conflicts with the daily range.
Lululemon gained seven point eight zero percent but remained just below its fifty-day and well below its two-hundred-day.
Accenture rose seven point seven one percent, above both averages.
Lockheed Martin gained seven point zero one percent, also above both.
Adobe added six point zero seven percent and closed above both longer averages.
On the downside, Forgent Power Solutions fell twenty-one point three five percent, below its fifty-day; it does not yet have two hundred completed sessions.
Moderna lost seventeen point five seven percent but remained above both longer averages.
Nokia fell fourteen point nine two percent, below both.
MaxLinear lost thirteen point eight seven percent, between its fifty-day above and two-hundred-day below.
Coherent dropped twelve point five one percent, below both. A large percentage move and the longer chart trend are not interchangeable.
The next daily confirmation
The next session's task is to see which lost references can actually be recovered. Keep the earnings, cash flow and chart confirmation as separate tests. You can find the charts and research at YieldTerminal Pro, with the video on our YouTube channel and updates on Stock Insights sixty-nine.
And remember, this is market research only, not a recommendation to buy or sell. Catch you in the morning.
Daily candles and moving averages use completed regular-session history through October 22. After-hours observations are separately recorded research snapshots and may have changed. They are not continuously live quotes. Historical comparisons exclude dividends. Spoken prices are rounded naturally; chart values display two decimal places.
October 22 Morning Watch · Daily Levels · Movers archive · Lam research · Walmart versus Costco
Sources
- Bloom Energy actual September-quarter results reported October 22
- Western Digital actual fiscal first-quarter results reported October 22
- QQQ completed price-history source; original provider records retained
- QQQ dated regular-close corroboration; distinct from after-hours quotes
- WDC completed price-history source; original provider records retained
- WDC dated regular-close corroboration; distinct from after-hours quotes
- TSLA completed price-history source; original provider records retained
- TSLA dated regular-close corroboration; distinct from after-hours quotes
- META completed price-history source; original provider records retained
- META dated regular-close corroboration; distinct from after-hours quotes
- LRCX completed price-history source; original provider records retained
- LRCX dated regular-close corroboration; distinct from after-hours quotes
- SPY completed price-history source; original provider records retained
- SPY dated regular-close corroboration; distinct from after-hours quotes
- BE completed price-history source; original provider records retained
- BE dated regular-close corroboration; distinct from after-hours quotes
- SPOT completed price-history source; original provider records retained
- SPOT dated regular-close corroboration; distinct from after-hours quotes
- LULU completed price-history source; original provider records retained
- LULU dated regular-close corroboration; distinct from after-hours quotes
- ACN completed price-history source; original provider records retained
- ACN dated regular-close corroboration; distinct from after-hours quotes
- LMT completed price-history source; original provider records retained
- LMT dated regular-close corroboration; distinct from after-hours quotes
- ADBE completed price-history source; original provider records retained
- ADBE dated regular-close corroboration; distinct from after-hours quotes
- FPS completed price-history source; original provider records retained
- FPS dated regular-close corroboration; distinct from after-hours quotes
- MRNA completed price-history source; original provider records retained
- MRNA dated regular-close corroboration; distinct from after-hours quotes
- NOK completed price-history source; original provider records retained
- NOK dated regular-close corroboration; distinct from after-hours quotes
- MXL completed price-history source; original provider records retained
- MXL dated regular-close corroboration; distinct from after-hours quotes
- COHR completed price-history source; original provider records retained
- COHR dated regular-close corroboration; distinct from after-hours quotes