Better than expected earnings are rallying shares of Enphase this morning.
The energy company posted second-quarter EPS of $1.07 and beat Wall Street's $0.85 EPS estimate by a healthy margin.
Revenues of $530.2 million also breezed past the Street's $505.4 million target.
Enphase's Q3 guidance was also higher than analysts expected. The firm expects to earn $590 million to 630 million in Q2, but analysts only called for $549.4 million.
ENPH is leading the S&P 500 on the heels of its strong quarterly report. Shares are up 9.2%.
Our Take: Enphase is slowly trending higher, but this upbeat earnings report could be the catalyst it needs to break out. This could be a good swing trade target.
PayPal [PYPL] - Last Close: $77.04
PayPal is trending on news it's being target by a prominent activist investor.
An exclusive report from The Wall Street Journal revealed Paul Singer's Elliot Management has built a position in the struggling payment processing stock, according to people familiar with the matter.
The sources didn't reveal any specifics regarding the size of Elliot's stake or its intentions for the company, but the news is already generating a buzz among investors.
Elliot has more than $50 billion under management and has previously pursued successful activist bids at prolific companies like AT&T, Twitter, and Pinterest.
PYPL is one of the S&P 500's top stocks with a 6.5% gain.
Our Take: PYPL is starting to look attractive. It's P/E is getting more reasonable - although its still elevated - and this Elliot Investor bid could help the company break out of its recent funk. It could be a good time to jump in this one.
