Bullish Stocks Trading Above 50 Days Moving Average: $TT $ANET $SNE

August 05, 2020 at 03:50 AM EDT

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Trane Technologies reports a 7% drop in bookings in Q2

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Trane Technologies PLC (NYSE:TT) looks bullish and it is currently trading 17.76% above its 50 Days simple moving average. The company reported diluted EPS in Q2 of $1.14 while adjusted EPS was $1.27 which doesn't include the $46.2 million that is associated with expected transformation and restructuring costs. Trane technologies indicated that the pandemic affected bookings and in the quarter reported and organic bookings dropped 7% to $3.3 billion with reported and organic revenue dropping 13% to $3.1 billion.

Mike Lamach the CEO and Chairman of the company indicated that the pandemic has presented complex challenges and there is uncertainty this year. However, the company is still focusing on its strategy by ensuring the safety of employees, acting with integrity and ethics, and enhancing commitments to support communities.

Arista Networks reports 3.4% YoY revenue growth

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Arista Networks Inc. (NYSE:ANET) stock currently looks bullish is trading 17.19% above its 50 Days simple moving average. The company reported better than expected Q2 financial results with revenue growing 3.4% to $540.6 million from last year and earnings of $144.8 million or $1.83 per share. Wall Street had expected the company to post revenue of around $529.7 million and earnings of $1.95 per share. In the third quarter, the company expects revenue to range between $520 million and $540 million while analysts are holding for $542 million.

The company has announced various inclusions to its CloudEOS Edge that is designed to incorporate native cloud networking solutions like AWS Transit Gateway. The system will integrate effortlessly into the cloud infrastructure with the native interoperability through Red Hat's Ansible and Hashicorp Terraform tools.

Sony posts 2% YoY sales increase in Q1 2020

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Sony Corp (NASDAQ:SNE) stock is currently trading 16.72% above its 50 Days simple moving average and it looks bullish. The company reported a 2% YoY increase in sales in Q1 2020 to JPY1,968.9 billion with operating income decreasing slightly to JPY228.4 billion. Also, income before taxes increased to JPY319.9 billion from JPY88.9 billion which was mainly due to unrealized securities investment gains and other expenses and income. For fiscal 2020 the company expects YoY consolidated sales to be flat at JPY8,300 billion with income before taxes expected to be around JPY685 billion.

The company is planning to reintroduce its Premium and Compact variants in line with the current trends of most companies. Sony will also skip the small leading form factor.

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