How did LIN's Q1 2024 EPS surprise impact short-term traders?

Linde's (LIN) Q1 2024 EPS surprise had a positive impact on short-term traders, as evidenced by the following points: 1. **Surprise and Market Reaction**: Linde reported an EPS surprise of $0.08 for Q1 2024, which exceeded market expectations. This positive surprise likely led to increased confidence among short-term traders, as it indicated that the company's performance had exceeded analysts' forecasts. |code|Ticker|Name|Date|EPS Surprise YoY|EPS Surprise|market_code| |---|---|---|---|---|---|---| |LIN|LIN.O|Linde|20230630|-28.571428571428577|0.1|185| |LIN|LIN.O|Linde|20230930|-90.62500000000001|0.06|185| |LIN|LIN.O|Linde|20231231|-85.29411764705883|0.1|185| |LIN|LIN.O|Linde|20240331|-93.7984496124031|0.08|185| 2. **Stock Price Movement**: Following the earnings release, Linde's stock experienced a surge, with a significant increase in trading volume. This suggests that short-term traders may have rushed to buy the stock, anticipating further price appreciation. The stock's price outpaced the S&P 500's daily gain, indicating a strong positive reaction to the earnings news. 3. **Broader Market Perception**: The overall chemical sector is expected to see a revitalization in 2024, driven by rising demand for chemicals crucial for the energy transition. This positive outlook likely contributed to the positive sentiment surrounding Linde's stock, attracting short-term traders looking to capitalize on the expected growth. 4. **Financial Performance and Projections**: Linde's Q4 FY23 results showed robust sales growth, with adjusted EPS beating consensus. The company's forecast for Q1 2024 adjusted EPS of $3.58 - $3.68, along with a projected FY24 adjusted EPS range of $15.25 - $15.65, further supported the positive sentiment. Short-term traders may have been encouraged by these projections, as they suggested continued growth potential. 5. **Investor Sentiment**: The chemical sector's resilience and the industry's significant contribution to the economy underscored Linde's strong position within it. This positive sentiment could have attracted short-term traders looking for opportunities in a growing sector. In conclusion, Linde's Q1 2024 EPS surprise had a favorable effect on short-term traders, driving stock price appreciation and increased investor confidence. The company's strong financial performance, positive market outlook, and role in the growing chemical sector likely contributed to this positive sentiment.