Yahoo Quiet Ahead Of Q1 Results

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Yahoo! Inc. YHOO shares were trading lower by $0.11 at $44.54 in Tuesday's session. It has been range-bound over the last three trading sessions (including today) from $44.25 to $45.18 and nearly identical ranges for last two days, with highs of $44.91 and $45.18 and lows of $44.41 and $44.45.

One reason for the muted action is the company is to announce Q1 earnings after the close. The Street is looking for EPS of $0.18 on revenues of $1.6 billion. It has met or beat Wall Street estimates for EPS in 10 of the last 11 quarters and has rallied from the $16 level to its current level over this same period of time.

Related Link: Yahoo's Earnings Prospects Fail To Excite Analysts In Q1

Longer term, Yahoo has been range-bound since gapping down from $46.63 to $43.73 on January 29. The low for that session was $41.80 and the upper end of the trading range stands at $46.17, which was touched on April 9.

The sharp decline on January 29 came after the company beat Wall Street estimates for EPS by $0.01, but instead the Street may have focusing more on its slight sales miss, as well as lower Q1 sales.