Market Pulse: AT&T and Ericsson Pull Back After Gaps Higher

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    Two forgotten technology stocks are popping up today for pullbacks. Both were featured in last week’s earnings recap.

    AT&T (T) gapped up last week after a surprisingly strong quarter. The telecom giant outperformed on both mobile and broadband subscribers. Now it may have an additional boost from 5G rollouts. T retraced the bullish gap and is holding near long-term lows. It also averages more than 150,000 options contracts per day.

    Ericsson (ERIC) also surged last week, following its second consecutive strong quarter. The Swedish telecom supplier seems to have the double-impact of a long-term turnaround plus 5G demand. It’s been viewed as an alternate to Huawei.

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    David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.