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710700.0 | 2023-12-16 02:00:00 UTC | Citizens Financial Group Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E About To Put More Money In Your Pocket | DCOMP | https://www.nasdaq.com/articles/citizens-financial-group-fixed-rate-non-cumulative-perpetual-preferred-stock-series-e-4 | nan | nan | On 12/21/23, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 1/8/24. As a percentage of CFG.PRE's recent share price of $20.49, this dividend works out to approximately 1.53%, so look for shares of CFG.PRE to trade 1.53% lower — all else being equal — when CFG.PRE shares open for trading on 12/21/23. On an annualized basis, the current yield is approximately 6.12%, which compares to an average yield of 6.84% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of CFG.PRE shares, versus CFG:
Below is a dividend history chart for CFG.PRE, showing historical dividends prior to the most recent $0.3125 on Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E:
In Tuesday trading, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) is currently up about 0.2% on the day, while the common shares (Symbol: CFG) are up about 2.1%.
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »
Also see:
JHI Historical Stock Prices
MFA Videos
RXL Split History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On 12/21/23, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 1/8/24. The chart below shows the one year performance of CFG.PRE shares, versus CFG: Below is a dividend history chart for CFG.PRE, showing historical dividends prior to the most recent $0.3125 on Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E: In Tuesday trading, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) is currently up about 0.2% on the day, while the common shares (Symbol: CFG) are up about 2.1%. dividend stocks also have preferred shares that should be on your radar screen » Also see: JHI Historical Stock Prices MFA Videos RXL Split History The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On 12/21/23, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 1/8/24. On an annualized basis, the current yield is approximately 6.12%, which compares to an average yield of 6.84% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of CFG.PRE shares, versus CFG: Below is a dividend history chart for CFG.PRE, showing historical dividends prior to the most recent $0.3125 on Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E: In Tuesday trading, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) is currently up about 0.2% on the day, while the common shares (Symbol: CFG) are up about 2.1%. | The chart below shows the one year performance of CFG.PRE shares, versus CFG: Below is a dividend history chart for CFG.PRE, showing historical dividends prior to the most recent $0.3125 on Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E: In Tuesday trading, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) is currently up about 0.2% on the day, while the common shares (Symbol: CFG) are up about 2.1%. Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen » Also see: JHI Historical Stock Prices MFA Videos RXL Split History The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On 12/21/23, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 1/8/24. As a percentage of CFG.PRE's recent share price of $20.49, this dividend works out to approximately 1.53%, so look for shares of CFG.PRE to trade 1.53% lower — all else being equal — when CFG.PRE shares open for trading on 12/21/23. On an annualized basis, the current yield is approximately 6.12%, which compares to an average yield of 6.84% in the "Financial" preferred stock category, according to Preferred Stock Channel. | 5632e801-b627-4374-92da-37662b9fc57a |
710701.0 | 2023-12-16 02:00:00 UTC | Why Nikola Stock Jumped Today | DCOMP | https://www.nasdaq.com/articles/why-nikola-stock-jumped-today-0 | nan | nan | Nikola (NASDAQ: NKLA) shares are bouncing back today after a more than 10% drop yesterday. The stock of the electric semitruck maker popped as much as 12.2% Tuesday morning. Shares remained higher by 6.7% as of 12:45 p.m. ET.
Nikola stock dropped yesterday after founder and former CEO Trevor Milton received a four-year prison sentence for defrauding investors in the start-up electric and hydrogen fuel cell truck maker.
Off to a bad start
Milton was convicted last fall on two counts of wire fraud and one count of securities fraud. He founded the company in 2015, but stepped down as CEO and left the company in September 2020. That was about three months after the company went public through a special purpose acquisition company (SPAC) merger, and it made Milton a billionaire on paper.
But Milton was found to have falsified the progress that Nikola had made on the development of its electric trucks. That led investors to drive up the valuation of the company, enriching Milton along the way.
Investors today seem to be realizing that Milton isn't part of the company anymore, and in fact, has been at odds with current management for months. While the stock dropped on the news of his sentence yesterday, the company itself is making progress on its business plans. That explains why shares are bouncing back today. But the question for investors is where the company -- and its stock -- go from here.
Still a long shot
While the stock bounced back today, it remains down about 60% for the year. That's because it still has a very long path to get to sustained success and profitability. Speculating on Nikola as a stock means believing in the growth of its hydrogen fuel cell powered trucks.
If a market and the infrastructure for that product don't materialize, Nikola won't be a viable company. Former CEO Milton has nothing to do with how that plays out now, though. That helps explain why shares bounced back from yesterday's drop.
Should you invest $1,000 in Nikola right now?
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nikola stock dropped yesterday after founder and former CEO Trevor Milton received a four-year prison sentence for defrauding investors in the start-up electric and hydrogen fuel cell truck maker. Investors today seem to be realizing that Milton isn't part of the company anymore, and in fact, has been at odds with current management for months. Speculating on Nikola as a stock means believing in the growth of its hydrogen fuel cell powered trucks. | Nikola (NASDAQ: NKLA) shares are bouncing back today after a more than 10% drop yesterday. Nikola stock dropped yesterday after founder and former CEO Trevor Milton received a four-year prison sentence for defrauding investors in the start-up electric and hydrogen fuel cell truck maker. Before you buy stock in Nikola, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Nikola wasn't one of them. | Nikola stock dropped yesterday after founder and former CEO Trevor Milton received a four-year prison sentence for defrauding investors in the start-up electric and hydrogen fuel cell truck maker. Before you buy stock in Nikola, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Nikola wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 18, 2023 Howard Smith has positions in Nikola. | Nikola stock dropped yesterday after founder and former CEO Trevor Milton received a four-year prison sentence for defrauding investors in the start-up electric and hydrogen fuel cell truck maker. Still a long shot While the stock bounced back today, it remains down about 60% for the year. Before you buy stock in Nikola, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Nikola wasn't one of them. | 04803826-fe41-4a3c-a53d-942dfa61819e |
710702.0 | 2023-12-16 02:00:00 UTC | Airbus on course for record jetliner orders in 2023, sources say | DCOMP | https://www.nasdaq.com/articles/airbus-on-course-for-record-jetliner-orders-in-2023-sources-say | nan | nan | By Tim Hepher
PARIS, Dec 19 (Reuters) - Airbus AIR.PA is on course to break aerospace order records in 2023 after a buying spree from European airlines and a brisk month so far in deliveries, industry sources said on Tuesday.
Orders for a total of almost 200 jets from easyJet and Lufthansa on Tuesday looked set to push gross orders so far this year above the record of around 1,800 in 2014, the peak of the last major cycle, as airlines gamble on a scarcity of jets.
Gross or unadjusted orders give a rough indication of the pace of market activity in a particular year, though analysts say a more widely watched indicator of a jetmaker's performance is "net orders", which exclude cancellations and conversions.
Those figures will not be officially available until January, but the sources said there are strong chances that Airbus also will breach the previous record of more than 1,500 net orders.
Airbus declined comment on possible end-year totals before a full-year announcement expected around Jan. 11.
Airlines are scrambling to order new planes to renew existing fleets amid fears of a shortage in coming years.
Both Airbus and Boeing, which also posted a key Lufthansa order on Tuesday, could announce more deals this month, buoyed by the snapback in demand after the COVID-19 pandemic, industry sources said.
The looming record caps the decades-long sales career of Airbus Chief Commercial Officer Christian Scherer as he prepares to become CEO of the overall civil jetliner business in the new year.
The 16,000-plane tally of former Airbus sales chief John Leahy in the 1994-2017 period remains the industry's most sustained sales haul.
On Friday, Turkish Airlines announced 220 new Airbus orders plus 10 A350-900s which had already been on Airbus' books without the buyer's name being immediately disclosed. It has indicated it plans to place a comparable mega-order with Boeing.
DELIVERIES NEARING TARGET
Despite the positive end-year note, Airbus is also digesting a strategic loss at Thai Airways, which is finalising an order for 80 GE-powered Boeing 787s after disagreements over pricing with long-time supplier Rolls-Royce, which powers the competing Airbus A350 and previously ordered 787s, industry sources said.
None of the parties has commented on ongoing negotiations.
Reuters first reported on Dec. 7 that the Thai carrier was closing in on the 80-plane deal with Boeing after increasing its requirement for wide-body jets in September. A proposed parallel order for 15 narrow-body jets does not appear to be imminent.
On the industrial side, Airbus delivered 623 aircraft between January and November, leaving it with 97 to deliver in December to reach its annual target of 720 aircraft.
With just over 10 days to go, the total has reached some 680 planes, industry sources said, taking some of the urgency out of the company's traditional end-year scramble to hit its target.
It is the second time since the pandemic that Airbus has tried to hit 720 deliveries after supply pressures dashed the attempt last year.
After a weak start to the year, analysts have voiced increasing confidence that Airbus will meet its delivery targets in 2023, but say next year will be challenging, with the production ramp-up hampered by shortages of materials and parts.
(Reporting by Tim Hepher; Editing by Paul Simao)
((tim.hepher@thomsonreuters.com; +33 1 49 49 54 52; Reuters Messaging: tim.hepher.thomsonreuters@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Tim Hepher PARIS, Dec 19 (Reuters) - Airbus AIR.PA is on course to break aerospace order records in 2023 after a buying spree from European airlines and a brisk month so far in deliveries, industry sources said on Tuesday. Both Airbus and Boeing, which also posted a key Lufthansa order on Tuesday, could announce more deals this month, buoyed by the snapback in demand after the COVID-19 pandemic, industry sources said. The looming record caps the decades-long sales career of Airbus Chief Commercial Officer Christian Scherer as he prepares to become CEO of the overall civil jetliner business in the new year. | Both Airbus and Boeing, which also posted a key Lufthansa order on Tuesday, could announce more deals this month, buoyed by the snapback in demand after the COVID-19 pandemic, industry sources said. Despite the positive end-year note, Airbus is also digesting a strategic loss at Thai Airways, which is finalising an order for 80 GE-powered Boeing 787s after disagreements over pricing with long-time supplier Rolls-Royce, which powers the competing Airbus A350 and previously ordered 787s, industry sources said. On the industrial side, Airbus delivered 623 aircraft between January and November, leaving it with 97 to deliver in December to reach its annual target of 720 aircraft. | By Tim Hepher PARIS, Dec 19 (Reuters) - Airbus AIR.PA is on course to break aerospace order records in 2023 after a buying spree from European airlines and a brisk month so far in deliveries, industry sources said on Tuesday. Orders for a total of almost 200 jets from easyJet and Lufthansa on Tuesday looked set to push gross orders so far this year above the record of around 1,800 in 2014, the peak of the last major cycle, as airlines gamble on a scarcity of jets. Despite the positive end-year note, Airbus is also digesting a strategic loss at Thai Airways, which is finalising an order for 80 GE-powered Boeing 787s after disagreements over pricing with long-time supplier Rolls-Royce, which powers the competing Airbus A350 and previously ordered 787s, industry sources said. | By Tim Hepher PARIS, Dec 19 (Reuters) - Airbus AIR.PA is on course to break aerospace order records in 2023 after a buying spree from European airlines and a brisk month so far in deliveries, industry sources said on Tuesday. Orders for a total of almost 200 jets from easyJet and Lufthansa on Tuesday looked set to push gross orders so far this year above the record of around 1,800 in 2014, the peak of the last major cycle, as airlines gamble on a scarcity of jets. With just over 10 days to go, the total has reached some 680 planes, industry sources said, taking some of the urgency out of the company's traditional end-year scramble to hit its target. | 2cf4b2ad-e32c-49a4-8778-35de0704155a |
710703.0 | 2023-12-16 02:00:00 UTC | Tuesday Sector Leaders: Music & Electronics Stores, Precious Metals | DCOMP | https://www.nasdaq.com/articles/tuesday-sector-leaders%3A-music-electronics-stores-precious-metals | nan | nan | In trading on Tuesday, music & electronics stores shares were relative leaders, up on the day by about 5.6%. Leading the group were shares of Conns, up about 20.7% and shares of Upbound Group up about 2.6% on the day.
Also showing relative strength are precious metals shares, up on the day by about 3.4% as a group, led by Gold Royalty, trading up by about 8.5% and Harmony Gold Mining, trading up by about 7.2% on Tuesday.
VIDEO: Tuesday Sector Leaders: Music & Electronics Stores, Precious Metals
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, music & electronics stores shares were relative leaders, up on the day by about 5.6%. Also showing relative strength are precious metals shares, up on the day by about 3.4% as a group, led by Gold Royalty, trading up by about 8.5% and Harmony Gold Mining, trading up by about 7.2% on Tuesday. VIDEO: Tuesday Sector Leaders: Music & Electronics Stores, Precious Metals The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, music & electronics stores shares were relative leaders, up on the day by about 5.6%. Also showing relative strength are precious metals shares, up on the day by about 3.4% as a group, led by Gold Royalty, trading up by about 8.5% and Harmony Gold Mining, trading up by about 7.2% on Tuesday. VIDEO: Tuesday Sector Leaders: Music & Electronics Stores, Precious Metals The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, music & electronics stores shares were relative leaders, up on the day by about 5.6%. Also showing relative strength are precious metals shares, up on the day by about 3.4% as a group, led by Gold Royalty, trading up by about 8.5% and Harmony Gold Mining, trading up by about 7.2% on Tuesday. VIDEO: Tuesday Sector Leaders: Music & Electronics Stores, Precious Metals The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, music & electronics stores shares were relative leaders, up on the day by about 5.6%. Leading the group were shares of Conns, up about 20.7% and shares of Upbound Group up about 2.6% on the day. Also showing relative strength are precious metals shares, up on the day by about 3.4% as a group, led by Gold Royalty, trading up by about 8.5% and Harmony Gold Mining, trading up by about 7.2% on Tuesday. | 17774624-a7c5-4454-8b39-2a82c5d76e5f |
710704.0 | 2023-12-16 02:00:00 UTC | Tuesday's ETF Movers: ARKG, URA | DCOMP | https://www.nasdaq.com/articles/tuesdays-etf-movers%3A-arkg-ura | nan | nan | In trading on Tuesday, the ARK Genomic Revolution ETF is outperforming other ETFs, up about 4.6% on the day. Components of that ETF showing particular strength include shares of Butterfly Network, up about 15.3% and shares of 908 Devices, up about 13% on the day.
And underperforming other ETFs today is the Uranium ETF, off about 3.2% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Mega Uranium, lower by about 5.8%, and shares of Laramide Resources, lower by about 5.7% on the day.
VIDEO: Tuesday's ETF Movers: ARKG, URA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Butterfly Network, up about 15.3% and shares of 908 Devices, up about 13% on the day. Among components of that ETF with the weakest showing on Tuesday were shares of Mega Uranium, lower by about 5.8%, and shares of Laramide Resources, lower by about 5.7% on the day. VIDEO: Tuesday's ETF Movers: ARKG, URA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And underperforming other ETFs today is the Uranium ETF, off about 3.2% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Mega Uranium, lower by about 5.8%, and shares of Laramide Resources, lower by about 5.7% on the day. VIDEO: Tuesday's ETF Movers: ARKG, URA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, the ARK Genomic Revolution ETF is outperforming other ETFs, up about 4.6% on the day. And underperforming other ETFs today is the Uranium ETF, off about 3.2% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Mega Uranium, lower by about 5.8%, and shares of Laramide Resources, lower by about 5.7% on the day. | In trading on Tuesday, the ARK Genomic Revolution ETF is outperforming other ETFs, up about 4.6% on the day. Components of that ETF showing particular strength include shares of Butterfly Network, up about 15.3% and shares of 908 Devices, up about 13% on the day. And underperforming other ETFs today is the Uranium ETF, off about 3.2% in Tuesday afternoon trading. | 0011543a-107e-4e53-a0cc-eac2adfe7484 |
710705.0 | 2023-12-16 02:00:00 UTC | Three Republican senators oppose Nippon-U.S. Steel deal over national security | DCOMP | https://www.nasdaq.com/articles/three-republican-senators-oppose-nippon-u.s.-steel-deal-over-national-security | nan | nan | Adds White House comment in paragraph 6, letter from Democratic lawmakers from Pennsylvania in paragraphs 8-9
WASHINGTON, Dec 19 (Reuters) - Three U.S. Republican senators on Tuesday urged Treasury Secretary Janet Yellen to block the $14.9 billion acquisition of U.S. Steel X.N by Japan's Nippon Steel 5401.T, the world's fourth largest steelmaker, citing national security concerns.
Nippon clinched a deal on Monday to buy Pittsburgh-based U.S. Steel for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals such as Cleveland-Cliffs CLF.N, ArcelorMittal MT.LU and Nucor NUE.N.
"Despite the absence of any security-focused deliberation on U.S. Steel's part, domestic steel production is vital to U.S. national security," according to the letter on Tuesday from Republican Senators JD Vance, Josh Hawley and Marco Rubio.
Yellen chairs the Committee on Foreign Investment in the United States (CFIUS), a panel that scrutinizes deals for potential national security risks, which is expected to review the transaction.
No comment was immediately available from the Treasury Department.
White House spokesperson Karine Jean-Pierre told reporters at a regulaor White House briefing that there could be a regulatory review of the deal, but gave no further details.
At least four Democratic senators, Sherrod Brown, John Fetterman, Bob Casey and Joe Manchin, have also expressed opposition to the deal, as have two Democratic members of the House of Representatives from Pennsylvania.
Casey, Fetterman and representatives Chris Deluzio and Summer Lee wrote to Nippon Steel President Eiji Hashimoto on Tuesday to express their "deep concern" about the failure of the two firms to consult or notify the United Steelworkers union ahead of the announcement, as its contract "would seem to require."
The lawmakers asked Hashimoto to answer specific questions about the proposed acquisition, and whether Nippon was aware of the "full scope of commitments made to workers under U.S. Steel's contract with the steelworkers union, which represents thousands of workers at the steelmaker.
Fetterman vowed on Monday to do everything in his power "to block this foreign sale."
The union has also come out against the transaction.
(Reporting by Shivansh Tiwary, Bianca Flowers, Nandita Bose and Andrea Shalal; Editing by Krishna Chandra Eluri and Stephen Coates)
((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nippon clinched a deal on Monday to buy Pittsburgh-based U.S. Steel for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals such as Cleveland-Cliffs CLF.N, ArcelorMittal MT.LU and Nucor NUE.N. Yellen chairs the Committee on Foreign Investment in the United States (CFIUS), a panel that scrutinizes deals for potential national security risks, which is expected to review the transaction. Casey, Fetterman and representatives Chris Deluzio and Summer Lee wrote to Nippon Steel President Eiji Hashimoto on Tuesday to express their "deep concern" about the failure of the two firms to consult or notify the United Steelworkers union ahead of the announcement, as its contract "would seem to require." | Adds White House comment in paragraph 6, letter from Democratic lawmakers from Pennsylvania in paragraphs 8-9 WASHINGTON, Dec 19 (Reuters) - Three U.S. Republican senators on Tuesday urged Treasury Secretary Janet Yellen to block the $14.9 billion acquisition of U.S. Steel X.N by Japan's Nippon Steel 5401.T, the world's fourth largest steelmaker, citing national security concerns. "Despite the absence of any security-focused deliberation on U.S. Steel's part, domestic steel production is vital to U.S. national security," according to the letter on Tuesday from Republican Senators JD Vance, Josh Hawley and Marco Rubio. The lawmakers asked Hashimoto to answer specific questions about the proposed acquisition, and whether Nippon was aware of the "full scope of commitments made to workers under U.S. Steel's contract with the steelworkers union, which represents thousands of workers at the steelmaker. | Adds White House comment in paragraph 6, letter from Democratic lawmakers from Pennsylvania in paragraphs 8-9 WASHINGTON, Dec 19 (Reuters) - Three U.S. Republican senators on Tuesday urged Treasury Secretary Janet Yellen to block the $14.9 billion acquisition of U.S. Steel X.N by Japan's Nippon Steel 5401.T, the world's fourth largest steelmaker, citing national security concerns. Casey, Fetterman and representatives Chris Deluzio and Summer Lee wrote to Nippon Steel President Eiji Hashimoto on Tuesday to express their "deep concern" about the failure of the two firms to consult or notify the United Steelworkers union ahead of the announcement, as its contract "would seem to require." The lawmakers asked Hashimoto to answer specific questions about the proposed acquisition, and whether Nippon was aware of the "full scope of commitments made to workers under U.S. Steel's contract with the steelworkers union, which represents thousands of workers at the steelmaker. | Adds White House comment in paragraph 6, letter from Democratic lawmakers from Pennsylvania in paragraphs 8-9 WASHINGTON, Dec 19 (Reuters) - Three U.S. Republican senators on Tuesday urged Treasury Secretary Janet Yellen to block the $14.9 billion acquisition of U.S. Steel X.N by Japan's Nippon Steel 5401.T, the world's fourth largest steelmaker, citing national security concerns. Nippon clinched a deal on Monday to buy Pittsburgh-based U.S. Steel for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals such as Cleveland-Cliffs CLF.N, ArcelorMittal MT.LU and Nucor NUE.N. Casey, Fetterman and representatives Chris Deluzio and Summer Lee wrote to Nippon Steel President Eiji Hashimoto on Tuesday to express their "deep concern" about the failure of the two firms to consult or notify the United Steelworkers union ahead of the announcement, as its contract "would seem to require." | 2b7777f0-91e6-4843-ae06-2618d0823aed |
710706.0 | 2023-12-16 02:00:00 UTC | Tuesday's ETF with Unusual Volume: EEMA | DCOMP | https://www.nasdaq.com/articles/tuesdays-etf-with-unusual-volume%3A-eema-0 | nan | nan | The iShares MSCI Emerging Markets Asia ETF is seeing unusually high volume in afternoon trading Tuesday, with over 277,000 shares traded versus three month average volume of about 40,000. Shares of EEMA were up about 1.3% on the day.
Components of that ETF with the highest volume on Tuesday were NIO, trading up about 5% with over 64.2 million shares changing hands so far this session, and Pdd Holdings, up about 1.2% on volume of over 3.8 million shares. Vipshop Holdings is lagging other components of the iShares MSCI Emerging Markets Asia ETF Tuesday, trading lower by about 1.3%.
VIDEO: Tuesday's ETF with Unusual Volume: EEMA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares MSCI Emerging Markets Asia ETF is seeing unusually high volume in afternoon trading Tuesday, with over 277,000 shares traded versus three month average volume of about 40,000. Components of that ETF with the highest volume on Tuesday were NIO, trading up about 5% with over 64.2 million shares changing hands so far this session, and Pdd Holdings, up about 1.2% on volume of over 3.8 million shares. Vipshop Holdings is lagging other components of the iShares MSCI Emerging Markets Asia ETF Tuesday, trading lower by about 1.3%. | The iShares MSCI Emerging Markets Asia ETF is seeing unusually high volume in afternoon trading Tuesday, with over 277,000 shares traded versus three month average volume of about 40,000. Vipshop Holdings is lagging other components of the iShares MSCI Emerging Markets Asia ETF Tuesday, trading lower by about 1.3%. VIDEO: Tuesday's ETF with Unusual Volume: EEMA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares MSCI Emerging Markets Asia ETF is seeing unusually high volume in afternoon trading Tuesday, with over 277,000 shares traded versus three month average volume of about 40,000. Components of that ETF with the highest volume on Tuesday were NIO, trading up about 5% with over 64.2 million shares changing hands so far this session, and Pdd Holdings, up about 1.2% on volume of over 3.8 million shares. VIDEO: Tuesday's ETF with Unusual Volume: EEMA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares MSCI Emerging Markets Asia ETF is seeing unusually high volume in afternoon trading Tuesday, with over 277,000 shares traded versus three month average volume of about 40,000. Shares of EEMA were up about 1.3% on the day. Components of that ETF with the highest volume on Tuesday were NIO, trading up about 5% with over 64.2 million shares changing hands so far this session, and Pdd Holdings, up about 1.2% on volume of over 3.8 million shares. | 7ed67439-4eff-417c-a1f4-1ed671533087 |
710707.0 | 2023-12-16 02:00:00 UTC | Lockheed (LMT) Wins $168M Deal to Aid CH-53K Stallion Helicopter | DCOMP | https://www.nasdaq.com/articles/lockheed-lmt-wins-%24168m-deal-to-aid-ch-53k-stallion-helicopter | nan | nan | Lockheed Martin Corp.’s LMT business unit, Sikorsky, recently clinched a contract involving the CH-53K King Stallion helicopter. The award has been offered by the Naval Air Systems Command, Patuxent River, MD.
Details of the Deal
Valued at $168.2 million, the contract is expected to be completed by March 2025. Per the terms of the deal, Lockheed will procure long-lead time materials for full-rate production of 21 CH-53K King Stallion helicopters.
The contract will serve the U.S. Marine Corp. Work related to this deal will be executed in Stratford, CT.
What’s Favoring Lockheed?
Impressively, the CH-53K King Stallion advances Sikorsky’s 50 years of manufacturing and operational success with its CH-53A, CH-53D/G and CH-53E predecessors. Built to thrive on the modern battlefield, including shipboard operations, the CH-53K aircraft is designed to be intelligent, reliable, low maintenance and survivable in the most austere and remote forward operating bases.
More than 1,200 test flight hours have been flown for this helicopter. Moreover, the CH-53K has achieved certain milestones in 2018, including high altitude, hot temperature and degraded visual environment flights.
Such remarkable features of CH-53K must have been driving its demand and, in turn, ushering in contract flows for LMT, like the latest one. These contract flows should boost LMT’s revenues in the coming quarters.
Growth Prospects
In recent times, U.S. military helicopters have gained prominence and significant traction due to advancements and integration of new tactical, logistical and other important features. Some of these developments can be attributed to Lockheed paving the way for securing valuable helicopter-related contracts of late. The recent contract win is a bright example of that.
Looking ahead, rising geopolitical and cross-border conflicts prevalent across the globe have forced nations to increase their defense spending toward procuring new aircraft and helicopters to enhance their aerial capabilities. Per a report from Mordor Intelligence, the military rotorcraft market is likely to witness a CAGR of more than 4% during the 2023-2028 period.
This should significantly boost Lockheed as the company enjoys a dominant position in the military helicopter market with its portfolio containing programs like e Black Hawk, Seahawk and CH-53K King Stallion heavy-lift helicopters.
Peer Prospects
Other defense companies that may enjoy the perks of the expanding military helicopter market have been discussed below.
The Boeing Company BA: Its Defense, Space & Security segment’s primary products include fixed-wing military aircraft, F/A-18E/F Super Hornet, F-15 programs, P-8 programs, KC-46A Tanker and T-7A Red Hawk. This segment also produces rotorcraft and rotary-wing programs, such as CH-47 Chinook, AH-64 Apache and V-22 Osprey.
Boeing has a long-term (three to five years) earnings growth rate of 4%. The Zacks Consensus Estimate for 2023 sales indicates an improvement of 15.4% from the 2022 reported figure.
Airbus Group EADSY: It is one of the world's largest suppliers of advanced military helicopters. EADSY’s product portfolio includes the H135 combat helicopter, the H145M helicopter, AS565 MBe, H160M, H175M, H215M, H225M and a few more.
The company’s long-term earnings growth rate is 12.4%. The consensus estimate for 2023 sales indicates an improvement of 12.9% from the 2022 reported figure.
Textron TXT: Its business unit, Textron Aviation Defense, designs, builds and supports versatile and globally known military helicopters, preferred for training and attack missions. Some of Textron’s renowned products are the Beechcraft T-6C trainer and the AT-6 Wolverine.
TXT boasts a long-term earnings growth rate of 11.7%. The consensus mark for 2023 sales indicates an improvement of 6.4% from the 2022 reported figure.
Price Movement
In the past three months, shares of Lockheed have risen 4.7% compared to the industry’s growth of 7.8%.
Image Source: Zacks Investment Research
Zacks Rank
Lockheed currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Lockheed Martin Corp.’s LMT business unit, Sikorsky, recently clinched a contract involving the CH-53K King Stallion helicopter. Growth Prospects In recent times, U.S. military helicopters have gained prominence and significant traction due to advancements and integration of new tactical, logistical and other important features. Looking ahead, rising geopolitical and cross-border conflicts prevalent across the globe have forced nations to increase their defense spending toward procuring new aircraft and helicopters to enhance their aerial capabilities. | Lockheed Martin Corp.’s LMT business unit, Sikorsky, recently clinched a contract involving the CH-53K King Stallion helicopter. The Boeing Company BA: Its Defense, Space & Security segment’s primary products include fixed-wing military aircraft, F/A-18E/F Super Hornet, F-15 programs, P-8 programs, KC-46A Tanker and T-7A Red Hawk. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report Lockheed Martin Corporation (LMT) : Free Stock Analysis Report Textron Inc. (TXT) : Free Stock Analysis Report Airbus Group (EADSY) : Free Stock Analysis Report To read this article on Zacks.com click here. | Lockheed Martin Corp.’s LMT business unit, Sikorsky, recently clinched a contract involving the CH-53K King Stallion helicopter. This should significantly boost Lockheed as the company enjoys a dominant position in the military helicopter market with its portfolio containing programs like e Black Hawk, Seahawk and CH-53K King Stallion heavy-lift helicopters. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report Lockheed Martin Corporation (LMT) : Free Stock Analysis Report Textron Inc. (TXT) : Free Stock Analysis Report Airbus Group (EADSY) : Free Stock Analysis Report To read this article on Zacks.com click here. | Lockheed Martin Corp.’s LMT business unit, Sikorsky, recently clinched a contract involving the CH-53K King Stallion helicopter. This should significantly boost Lockheed as the company enjoys a dominant position in the military helicopter market with its portfolio containing programs like e Black Hawk, Seahawk and CH-53K King Stallion heavy-lift helicopters. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | a117d51b-d1cf-4b62-9282-d5e4642ee3ec |
710708.0 | 2023-12-16 02:00:00 UTC | Noteworthy Tuesday Option Activity: GOOGL, MRNA, GS | DCOMP | https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-googl-mrna-gs | nan | nan | Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Alphabet Inc (Symbol: GOOGL), where a total volume of 214,961 contracts has been traded thus far today, a contract volume which is representative of approximately 21.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 70.9% of GOOGL's average daily trading volume over the past month, of 30.3 million shares. Especially high volume was seen for the $115 strike put option expiring March 15, 2024, with 25,019 contracts trading so far today, representing approximately 2.5 million underlying shares of GOOGL. Below is a chart showing GOOGL's trailing twelve month trading history, with the $115 strike highlighted in orange:
Moderna Inc (Symbol: MRNA) saw options trading volume of 33,776 contracts, representing approximately 3.4 million underlying shares or approximately 67.7% of MRNA's average daily trading volume over the past month, of 5.0 million shares. Especially high volume was seen for the $140 strike put option expiring January 19, 2024, with 4,380 contracts trading so far today, representing approximately 438,000 underlying shares of MRNA. Below is a chart showing MRNA's trailing twelve month trading history, with the $140 strike highlighted in orange:
And Goldman Sachs Group Inc (Symbol: GS) options are showing a volume of 15,742 contracts thus far today. That number of contracts represents approximately 1.6 million underlying shares, working out to a sizeable 67.6% of GS's average daily trading volume over the past month, of 2.3 million shares. Especially high volume was seen for the $390 strike call option expiring December 22, 2023, with 888 contracts trading so far today, representing approximately 88,800 underlying shares of GS. Below is a chart showing GS's trailing twelve month trading history, with the $390 strike highlighted in orange:
For the various different available expirations for GOOGL options, MRNA options, or GS options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Especially high volume was seen for the $115 strike put option expiring March 15, 2024, with 25,019 contracts trading so far today, representing approximately 2.5 million underlying shares of GOOGL. Especially high volume was seen for the $140 strike put option expiring January 19, 2024, with 4,380 contracts trading so far today, representing approximately 438,000 underlying shares of MRNA. Especially high volume was seen for the $390 strike call option expiring December 22, 2023, with 888 contracts trading so far today, representing approximately 88,800 underlying shares of GS. | Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Alphabet Inc (Symbol: GOOGL), where a total volume of 214,961 contracts has been traded thus far today, a contract volume which is representative of approximately 21.5 million underlying shares (given that every 1 contract represents 100 underlying shares). Especially high volume was seen for the $115 strike put option expiring March 15, 2024, with 25,019 contracts trading so far today, representing approximately 2.5 million underlying shares of GOOGL. Below is a chart showing GOOGL's trailing twelve month trading history, with the $115 strike highlighted in orange: Moderna Inc (Symbol: MRNA) saw options trading volume of 33,776 contracts, representing approximately 3.4 million underlying shares or approximately 67.7% of MRNA's average daily trading volume over the past month, of 5.0 million shares. | Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Alphabet Inc (Symbol: GOOGL), where a total volume of 214,961 contracts has been traded thus far today, a contract volume which is representative of approximately 21.5 million underlying shares (given that every 1 contract represents 100 underlying shares). Especially high volume was seen for the $115 strike put option expiring March 15, 2024, with 25,019 contracts trading so far today, representing approximately 2.5 million underlying shares of GOOGL. Below is a chart showing GOOGL's trailing twelve month trading history, with the $115 strike highlighted in orange: Moderna Inc (Symbol: MRNA) saw options trading volume of 33,776 contracts, representing approximately 3.4 million underlying shares or approximately 67.7% of MRNA's average daily trading volume over the past month, of 5.0 million shares. | Especially high volume was seen for the $115 strike put option expiring March 15, 2024, with 25,019 contracts trading so far today, representing approximately 2.5 million underlying shares of GOOGL. Below is a chart showing GOOGL's trailing twelve month trading history, with the $115 strike highlighted in orange: Moderna Inc (Symbol: MRNA) saw options trading volume of 33,776 contracts, representing approximately 3.4 million underlying shares or approximately 67.7% of MRNA's average daily trading volume over the past month, of 5.0 million shares. Below is a chart showing GS's trailing twelve month trading history, with the $390 strike highlighted in orange: For the various different available expirations for GOOGL options, MRNA options, or GS options, visit StockOptionsChannel.com. | ff4a0e30-d78f-42d9-b443-838605979399 |
710709.0 | 2023-12-16 02:00:00 UTC | Noteworthy Tuesday Option Activity: FDX, ENPH, AMZN | DCOMP | https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-fdx-enph-amzn | nan | nan | Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in FedEx Corp (Symbol: FDX), where a total volume of 33,874 contracts has been traded thus far today, a contract volume which is representative of approximately 3.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 216.1% of FDX's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $260 strike put option expiring December 22, 2023, with 1,597 contracts trading so far today, representing approximately 159,700 underlying shares of FDX. Below is a chart showing FDX's trailing twelve month trading history, with the $260 strike highlighted in orange:
Enphase Energy Inc. (Symbol: ENPH) saw options trading volume of 68,781 contracts, representing approximately 6.9 million underlying shares or approximately 123.7% of ENPH's average daily trading volume over the past month, of 5.6 million shares. Especially high volume was seen for the $135 strike call option expiring December 22, 2023, with 2,348 contracts trading so far today, representing approximately 234,800 underlying shares of ENPH. Below is a chart showing ENPH's trailing twelve month trading history, with the $135 strike highlighted in orange:
And Amazon.com Inc (Symbol: AMZN) saw options trading volume of 423,715 contracts, representing approximately 42.4 million underlying shares or approximately 82.1% of AMZN's average daily trading volume over the past month, of 51.6 million shares. Particularly high volume was seen for the $155 strike call option expiring December 22, 2023, with 48,057 contracts trading so far today, representing approximately 4.8 million underlying shares of AMZN. Below is a chart showing AMZN's trailing twelve month trading history, with the $155 strike highlighted in orange:
For the various different available expirations for FDX options, ENPH options, or AMZN options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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Top Ten Hedge Funds Holding WEL
Weyerhaeuser Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $260 strike put option expiring December 22, 2023, with 1,597 contracts trading so far today, representing approximately 159,700 underlying shares of FDX. Especially high volume was seen for the $135 strike call option expiring December 22, 2023, with 2,348 contracts trading so far today, representing approximately 234,800 underlying shares of ENPH. Particularly high volume was seen for the $155 strike call option expiring December 22, 2023, with 48,057 contracts trading so far today, representing approximately 4.8 million underlying shares of AMZN. | Below is a chart showing FDX's trailing twelve month trading history, with the $260 strike highlighted in orange: Enphase Energy Inc. (Symbol: ENPH) saw options trading volume of 68,781 contracts, representing approximately 6.9 million underlying shares or approximately 123.7% of ENPH's average daily trading volume over the past month, of 5.6 million shares. Below is a chart showing ENPH's trailing twelve month trading history, with the $135 strike highlighted in orange: And Amazon.com Inc (Symbol: AMZN) saw options trading volume of 423,715 contracts, representing approximately 42.4 million underlying shares or approximately 82.1% of AMZN's average daily trading volume over the past month, of 51.6 million shares. Particularly high volume was seen for the $155 strike call option expiring December 22, 2023, with 48,057 contracts trading so far today, representing approximately 4.8 million underlying shares of AMZN. | Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in FedEx Corp (Symbol: FDX), where a total volume of 33,874 contracts has been traded thus far today, a contract volume which is representative of approximately 3.4 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing FDX's trailing twelve month trading history, with the $260 strike highlighted in orange: Enphase Energy Inc. (Symbol: ENPH) saw options trading volume of 68,781 contracts, representing approximately 6.9 million underlying shares or approximately 123.7% of ENPH's average daily trading volume over the past month, of 5.6 million shares. Below is a chart showing ENPH's trailing twelve month trading history, with the $135 strike highlighted in orange: And Amazon.com Inc (Symbol: AMZN) saw options trading volume of 423,715 contracts, representing approximately 42.4 million underlying shares or approximately 82.1% of AMZN's average daily trading volume over the past month, of 51.6 million shares. | Below is a chart showing FDX's trailing twelve month trading history, with the $260 strike highlighted in orange: Enphase Energy Inc. (Symbol: ENPH) saw options trading volume of 68,781 contracts, representing approximately 6.9 million underlying shares or approximately 123.7% of ENPH's average daily trading volume over the past month, of 5.6 million shares. Especially high volume was seen for the $135 strike call option expiring December 22, 2023, with 2,348 contracts trading so far today, representing approximately 234,800 underlying shares of ENPH. Below is a chart showing ENPH's trailing twelve month trading history, with the $135 strike highlighted in orange: And Amazon.com Inc (Symbol: AMZN) saw options trading volume of 423,715 contracts, representing approximately 42.4 million underlying shares or approximately 82.1% of AMZN's average daily trading volume over the past month, of 51.6 million shares. | de3da10b-5eb9-4cc4-a859-bc50aa31a647 |
710710.0 | 2023-12-16 02:00:00 UTC | US officials say they are helping victims of Blackcat ransomware gang | DCOMP | https://www.nasdaq.com/articles/us-officials-say-they-are-helping-victims-of-blackcat-ransomware-gang | nan | nan | By Raphael Satter and Christopher Bing
WASHINGTON, Dec 19 (Reuters) - U.S. officials say they have seized digital extortion websites associated with the notorious "Blackcat" ransomware gang and are helping dozens of victims recover their data.
Blackcat - also known as ALPHV or Noberus - is accused of working with the prolific hacking gang known as "Scattered Spider," which has terrorized major businesses including MGM Resorts InternationalMGM.N and Caesars EntertainmentCZR.O.
In a statement published on Tuesday, the Justice Department said that it had "gained visibility into the Blackcat ransomware group's computer network" and seized "several websites."
There was no mention of arrests or of action against Scattered Spider, a group believed by security researchers to be composed at least in part of young, English-speaking hackers in the West. The group has acted as the sharp end of the spear for Blackcat, seeding data-scrambling software on victims' devices which can typically only be removed following a massive ransom payment.
Private sector cybersecurity analysts say the takedown is significant as it should disrupt the group's crime spree and network of hacking associates, which they normally partner with to extort victims.
"This is a huge win for law enforcement and the community," said Charles Carmakal, a senior executive with U.S. cybersecurity firm Mandiant, a division of Google Cloud. "ALPHV was one of the most active ransomware-as-a-service (RaaS) programs. They worked with both Russian affiliates and English-speaking western affiliates."
A Justice Department spokesperson declined to comment citing an ongoing investigation. The Federal Bureau of Investigation did not immediately return messages seeking additional detail about the seizure.
The statement said that the FBI had developed a decryption tool that could help up to 500 victims recover their data following the Blackcat seizure. It said that "to date, the FBI has worked with dozens of victims in the United States and internationally to implement this solution, saving multiple victims from ransom demands totaling approximately $68 million."
(Reporting by Raphael Satter; Editing by Tomasz Janowski and Nick Zieminski)
((Raphael.Satter@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Raphael Satter and Christopher Bing WASHINGTON, Dec 19 (Reuters) - U.S. officials say they have seized digital extortion websites associated with the notorious "Blackcat" ransomware gang and are helping dozens of victims recover their data. Blackcat - also known as ALPHV or Noberus - is accused of working with the prolific hacking gang known as "Scattered Spider," which has terrorized major businesses including MGM Resorts InternationalMGM.N and Caesars EntertainmentCZR.O. Private sector cybersecurity analysts say the takedown is significant as it should disrupt the group's crime spree and network of hacking associates, which they normally partner with to extort victims. | By Raphael Satter and Christopher Bing WASHINGTON, Dec 19 (Reuters) - U.S. officials say they have seized digital extortion websites associated with the notorious "Blackcat" ransomware gang and are helping dozens of victims recover their data. In a statement published on Tuesday, the Justice Department said that it had "gained visibility into the Blackcat ransomware group's computer network" and seized "several websites." The statement said that the FBI had developed a decryption tool that could help up to 500 victims recover their data following the Blackcat seizure. | By Raphael Satter and Christopher Bing WASHINGTON, Dec 19 (Reuters) - U.S. officials say they have seized digital extortion websites associated with the notorious "Blackcat" ransomware gang and are helping dozens of victims recover their data. Blackcat - also known as ALPHV or Noberus - is accused of working with the prolific hacking gang known as "Scattered Spider," which has terrorized major businesses including MGM Resorts InternationalMGM.N and Caesars EntertainmentCZR.O. It said that "to date, the FBI has worked with dozens of victims in the United States and internationally to implement this solution, saving multiple victims from ransom demands totaling approximately $68 million." | Blackcat - also known as ALPHV or Noberus - is accused of working with the prolific hacking gang known as "Scattered Spider," which has terrorized major businesses including MGM Resorts InternationalMGM.N and Caesars EntertainmentCZR.O. In a statement published on Tuesday, the Justice Department said that it had "gained visibility into the Blackcat ransomware group's computer network" and seized "several websites." The statement said that the FBI had developed a decryption tool that could help up to 500 victims recover their data following the Blackcat seizure. | 15afc1be-30bc-4e53-9331-96b5b989d8ef |
710711.0 | 2023-12-16 02:00:00 UTC | Reasons to Add ALLETE (ALE) to Your Portfolio Right Now | DCOMP | https://www.nasdaq.com/articles/reasons-to-add-allete-ale-to-your-portfolio-right-now-1 | nan | nan | ALLETE Inc.’s ALE strategic capital investment plans, improving earnings estimates and steady dividend payments make it a strong case for investment. ALE is engaged in providing clean energy to its customers.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projection & Long-term EPS Growth
The Zacks Consensus Estimate for 2023 earnings has moved up by 17.9% to $4.34 in the past 60 days. The Zacks Consensus Estimate for 2024 earnings has moved up by 0.7% in the last 60 days to $4.14.
The revenue estimate of $1.92 billion for 2023 implies year-over-year growth of 22.9%. For 2024, revenues are expected to be $1.99 billion, suggesting year-over-year growth of 3.5%.
ALLETE’s long-term (three- to five-year) earnings growth rate is currently pegged at 9.3%.
Dividend & Long-term EPS Growth
ALE has a long history of dividend payments and has paid dividends to its shareholders every year since 1950. It aims to increase its dividend rate annually in the range of 5-7%, subject to the approval of its board of directors. ALLETE has raised its dividend annually for the last 11 years. Its current annual dividend of $2.71 per share reflects an increase of 52.3% from $1.78 per share paid in 2011.
ALE’s long-term dividend payout ratio target is 60-70%. Currently, it has a dividend yield of 4.49% compared with the industry’s 3.57%.
Debt Position
The company's debt-to-capital ratio at the end of the third quarter was 33.2% compared with the industry’s average of 54.7%. This indicates that ALE is using lower debt to manage its business compared with its peers.
The times interest earned (“TIE”) ratio of the company at the end of third-quarter 2023 end was 3.4. The strong TIE ratio reflects the company’s financial strength and its ability to meet interest obligations.
Investments
ALLETE plans to make investments of $3.1 billion during the 2023-2027 time period. The strategic investments are directed to strengthen its existing infrastructure and boost its clean energy production plans.
Price Performance
In the last three months, the stock has risen 9.1% against the industry’s 4.7% decline.
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked stocks in the Utilities sector include Sempra Energy SRE, NiSource NI and Global Water Resources GWRS, each currently carrying a Zacks Rank #2.
Sempra Energy, NiSource and Global Water Resources delivered an average earnings surprise of 9.03%, 5.59% and 27.8%, respectively, in the last four quarters.
The Zacks Consensus Estimate for 2023 earnings for Sempra Energy, NiSource and Global Water Resources has moved 0.9%, 1.3% and 7.4% upward, respectively, in the last 60 days.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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NiSource, Inc (NI) : Free Stock Analysis Report
Sempra Energy (SRE) : Free Stock Analysis Report
Allete, Inc. (ALE) : Free Stock Analysis Report
Global Water Resources, Inc. (GWRS) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Zacks Consensus Estimate for 2023 earnings for Sempra Energy, NiSource and Global Water Resources has moved 0.9%, 1.3% and 7.4% upward, respectively, in the last 60 days. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | Image Source: Zacks Investment Research Other Stocks to Consider Other top-ranked stocks in the Utilities sector include Sempra Energy SRE, NiSource NI and Global Water Resources GWRS, each currently carrying a Zacks Rank #2. The Zacks Consensus Estimate for 2023 earnings for Sempra Energy, NiSource and Global Water Resources has moved 0.9%, 1.3% and 7.4% upward, respectively, in the last 60 days. Click to get this free report NiSource, Inc (NI) : Free Stock Analysis Report Sempra Energy (SRE) : Free Stock Analysis Report Allete, Inc. (ALE) : Free Stock Analysis Report Global Water Resources, Inc. (GWRS) : Free Stock Analysis Report To read this article on Zacks.com click here. | ALLETE Inc.’s ALE strategic capital investment plans, improving earnings estimates and steady dividend payments make it a strong case for investment. Image Source: Zacks Investment Research Other Stocks to Consider Other top-ranked stocks in the Utilities sector include Sempra Energy SRE, NiSource NI and Global Water Resources GWRS, each currently carrying a Zacks Rank #2. Click to get this free report NiSource, Inc (NI) : Free Stock Analysis Report Sempra Energy (SRE) : Free Stock Analysis Report Allete, Inc. (ALE) : Free Stock Analysis Report Global Water Resources, Inc. (GWRS) : Free Stock Analysis Report To read this article on Zacks.com click here. | Dividend & Long-term EPS Growth ALE has a long history of dividend payments and has paid dividends to its shareholders every year since 1950. Currently, it has a dividend yield of 4.49% compared with the industry’s 3.57%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | ee5800df-7f38-4fb4-b5a3-95d15aec81c8 |
710712.0 | 2023-12-16 02:00:00 UTC | Glaukos' (GKOS) iDose TR Gets FDA Nod for Glaucoma Treatment | DCOMP | https://www.nasdaq.com/articles/glaukos-gkos-idose-tr-gets-fda-nod-for-glaucoma-treatment | nan | nan | Glaukos Corporation GKOS announced that the FDA has approved its iDose TR (travoprost intracameral implant). The approval is for slow-release 75mcg iDose TR for the reduction of intraocular pressure (IOP) in patients with ocular hypertension or open-angle glaucoma.
The approval is based on data from a phase III program consisting of two pivotal studies that evaluated the safety and efficacy of a single administration of one of two iDose TR models with different travoprost release ratesin reducing IOP in subjects with open-angle glaucoma or ocular hypertension.
This revolutionary, micro-invasive injectable treatment marks a new era in interventional glaucoma therapy.
Price Performance
Share of Glaukos have risen more than 30% following the FDA approval. The company’s shares have risen 81% year to date compared with the industry’s 1.7% growth. The S&P 500 Index has increased 23.4% in the same time frame.
Image Source: Zacks Investment Research
Strategic Advantages: A New Era in Interventional Glaucoma
iDose TR is designed for a single administration per eye, sets itself apart as a long-duration, intracameral procedural pharmaceutical therapy. By delivering continuous therapeutic levels of travoprost, it addresses the challenges of patient non-compliance and chronic side effects associated with conventional topical glaucoma medications. This approval positions Glaukos as a frontrunner in redefining the standard of care for glaucoma patients.
Data from the pivotal studies demonstrated that a remarkable 81% of iDose TR subjects were free of IOP-lowering topical medications at 12 months. The clinical studies showcased excellent tolerability and subject retention, positioning iDose TR as a potential solution to the challenges posed by traditional glaucoma treatments.
Commercial Outlook
Glaukos plans to initiate commercial activities for iDose TR in the latter part of the first quarter of 2024. With a wholesale acquisition cost of $13,950 per dose, the company aims to bring this innovative therapy to the forefront of interventional glaucoma treatment.
GKOS’ reaffirmation of 2023 net sales projection and introduction of preliminary 2024 net sales guidance, ranging between $350 million and $360 million, underscore the confidence in iDose TR's potential to contribute significantly to Glaukos' growth in the coming years.
Glaukos Corporation Price
Glaukos Corporation price | Glaukos Corporation Quote
Zacks Rank & Stocks to Consider
Glaukos currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Integer Holdings ITGR, HealthEquity, Inc. HQY and Biodesix BDSX.
Integer Holdings, carrying a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 33.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.98%. The company’s shares have risen 42.5% year to date compared with the industry’s 1.7% growth.
HealthEquity, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 26.8%. HQY’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 16.5%.
The company’s shares have rallied 15% year to date against the industry’s 9.9% decline.
Biodesix, carrying a Zacks Rank #2 at present, has an estimated growth rate of 32.3% for 2024. BDSX’s earnings surpassed estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.76%.
The stock has fallen 30.9% year to date compared with the industry’s 9.9% decline.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
HealthEquity, Inc. (HQY) : Free Stock Analysis Report
Glaukos Corporation (GKOS) : Free Stock Analysis Report
Integer Holdings Corporation (ITGR) : Free Stock Analysis Report
Biodesix, Inc. (BDSX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The approval is based on data from a phase III program consisting of two pivotal studies that evaluated the safety and efficacy of a single administration of one of two iDose TR models with different travoprost release ratesin reducing IOP in subjects with open-angle glaucoma or ocular hypertension. Image Source: Zacks Investment Research Strategic Advantages: A New Era in Interventional Glaucoma iDose TR is designed for a single administration per eye, sets itself apart as a long-duration, intracameral procedural pharmaceutical therapy. The clinical studies showcased excellent tolerability and subject retention, positioning iDose TR as a potential solution to the challenges posed by traditional glaucoma treatments. | Glaukos Corporation Price Glaukos Corporation price | Glaukos Corporation Quote Zacks Rank & Stocks to Consider Glaukos currently carries a Zacks Rank #3 (Hold). Integer Holdings, carrying a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 33.6%. Click to get this free report HealthEquity, Inc. (HQY) : Free Stock Analysis Report Glaukos Corporation (GKOS) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report Biodesix, Inc. (BDSX) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Strategic Advantages: A New Era in Interventional Glaucoma iDose TR is designed for a single administration per eye, sets itself apart as a long-duration, intracameral procedural pharmaceutical therapy. Glaukos Corporation Price Glaukos Corporation price | Glaukos Corporation Quote Zacks Rank & Stocks to Consider Glaukos currently carries a Zacks Rank #3 (Hold). Click to get this free report HealthEquity, Inc. (HQY) : Free Stock Analysis Report Glaukos Corporation (GKOS) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report Biodesix, Inc. (BDSX) : Free Stock Analysis Report To read this article on Zacks.com click here. | Glaukos Corporation GKOS announced that the FDA has approved its iDose TR (travoprost intracameral implant). Glaukos Corporation Price Glaukos Corporation price | Glaukos Corporation Quote Zacks Rank & Stocks to Consider Glaukos currently carries a Zacks Rank #3 (Hold). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | ab3e4865-f2c2-49ea-ad3d-64ce74be8c17 |
710713.0 | 2023-12-16 02:00:00 UTC | IPO Watch: 2 Stocks to Buy | DCOMP | https://www.nasdaq.com/articles/ipo-watch%3A-2-stocks-to-buy | nan | nan | Initial Public Offerings (IPOs) can offer compelling opportunities in the equities market due to their potential for high growth and various other factors. When a company goes public through an IPO, it often signifies a stage of maturity and readiness for expansion. Investors are attracted to IPOs as they provide a chance to invest in a company during its early stages of public trading, potentially capitalizing on significant appreciation as the business grows. Additionally, IPOs often generate substantial media attention, attracting both institutional and retail investors. The excitement surrounding a new stock can lead to increased demand and upward price momentum. However, it's essential for investors to conduct thorough research, considering factors like the company's financial health, competitive landscape, and growth prospects, as investing in IPOs also comes with risks associated with the uncertainties of newly listed companies in the public market. When looking for IPOs to invest in, market participants should look for the following:
· A Welcoming Market Backdrop: 75% of a stock’s direction is correlated with the underlying market trend, so it is paramount that investors focus on whether the equity market is in a bull or bear market. Because IPOs are especially “risk-on” vehicles, it is essential to emphasize this factor. Currently, stocks are above their key moving averages and trending higher – evidence that the market is in a bull trend and IPOs can be purchased.
· Deep Liquidity: Institutional investors, such as mutual funds, banks, and hedge funds, are the biggest drivers of stocks. However, to establish a position, institutions require liquidity. If you are trading an IPO, ensure that it trades at least a few hundred thousand shares per day minimum.
· Innovation & High-Growth: The idea of buying a newly public company is to take advantage of its early growth trajectory. Screen for stocks that are part of innovative industries and have high earnings growth. These stocks have the most long-term potential.
3 2023 IPOs to Consider
CAVA Group (CAVA)
Zacks Rank #2 (Buy) stock CAVA is a healthy fast-casual restaurant operator. Started by first-generation Greek Americans, CAVA Group operates hundreds of Cava Grill Mediterranean restaurants across the United States.
Benefitting From the Fast-Casual Trend
Chipotle Mexican Grill (CMG), the first mainstream fast-casual restaurant operator, proves that the concept works for investors. Since its inception, the stock is up more than 5,000%! It’s clear – customers want fast, affordable, and healthy food options. Establishments like CAVA offer a middle ground between traditional fast food and sit-down dining, providing a quick and convenient dining experience with a focus on higher-quality ingredients.
EPS Surprise History
Thus far, CAVA has only reported quarterly results twice as a public company. However, CAVA has impressed both times and smashed Zacks Consensus estimates.
Image Source: Zacks Investment Research
In the third-quarter conference call, the Co-Founder and CEO remained bullish by saying, “CAVA’s results in the third quarter clearly demonstrate the strength and portability of our category-defining brand and highly differentiated offering. Revenue was up 49.5% of the last year, driven by 14.1% CAVA Same Restaurant Sales Growth including 7.6% traffic growth.”
Arm Holdings (ARM)
Zacks Rank #2 (Buy) stock Arm Holdings is a British semiconductor and software design company known for developing advanced computer architecture and technology. Arm specializes in designing and licensing intellectual property for microprocessors, including the popular ARM architecture used in various electronic devices such as smartphones, tablets, and embedded systems. Arm does not manufacture its own chips but licenses its technology to various companies in the semiconductor industry, allowing them to create custom processors based on Arm's architecture. This business model has made Arm a key player in the mobile computing and Internet of Things (IoT) markets.
IPO U-Turn Base Breakout Precedent
Those who traded Alphabet’s (GOOGL) IPO probably recognize ARM’s IPO U-turn base. In my view, GOOG is an excellent precedent for ARM because at the IPO both were high growth, liquidity, and established a very similar base structure. Can ARM mimic Google’s success?
Image Source: TradingView
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report
ARM Holdings PLC Sponsored ADR (ARM) : Free Stock Analysis Report
CAVA Group, Inc. (CAVA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors are attracted to IPOs as they provide a chance to invest in a company during its early stages of public trading, potentially capitalizing on significant appreciation as the business grows. Image Source: Zacks Investment Research In the third-quarter conference call, the Co-Founder and CEO remained bullish by saying, “CAVA’s results in the third quarter clearly demonstrate the strength and portability of our category-defining brand and highly differentiated offering. Image Source: TradingView Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | 3 2023 IPOs to Consider CAVA Group (CAVA) Zacks Rank #2 (Buy) stock CAVA is a healthy fast-casual restaurant operator. Revenue was up 49.5% of the last year, driven by 14.1% CAVA Same Restaurant Sales Growth including 7.6% traffic growth.” Arm Holdings (ARM) Zacks Rank #2 (Buy) stock Arm Holdings is a British semiconductor and software design company known for developing advanced computer architecture and technology. Click to get this free report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report ARM Holdings PLC Sponsored ADR (ARM) : Free Stock Analysis Report CAVA Group, Inc. (CAVA) : Free Stock Analysis Report To read this article on Zacks.com click here. | 3 2023 IPOs to Consider CAVA Group (CAVA) Zacks Rank #2 (Buy) stock CAVA is a healthy fast-casual restaurant operator. Revenue was up 49.5% of the last year, driven by 14.1% CAVA Same Restaurant Sales Growth including 7.6% traffic growth.” Arm Holdings (ARM) Zacks Rank #2 (Buy) stock Arm Holdings is a British semiconductor and software design company known for developing advanced computer architecture and technology. Click to get this free report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report ARM Holdings PLC Sponsored ADR (ARM) : Free Stock Analysis Report CAVA Group, Inc. (CAVA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Investors are attracted to IPOs as they provide a chance to invest in a company during its early stages of public trading, potentially capitalizing on significant appreciation as the business grows. 3 2023 IPOs to Consider CAVA Group (CAVA) Zacks Rank #2 (Buy) stock CAVA is a healthy fast-casual restaurant operator. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | e888bbd3-25ee-423c-9544-c4eef2f0772d |
710714.0 | 2023-12-16 01:00:00 UTC | FAA has no 'specific timetable' to approve Boeing 737 MAX 7 -administrator | DCOMP | https://www.nasdaq.com/articles/faa-has-no-specific-timetable-to-approve-boeing-737-max-7-administrator | nan | nan | By David Shepardson and Valerie Insinna
ARLINGTON, Virginia Dec 19 (Reuters) - The Federal Aviation Administration has no "specific timetable" to certify the Boeing 737 MAX 7, the agency's top official told Reuters on Tuesday, despite the planemaker previously expecting that to occur by the end of this year.
FAA Administrator Michael Whitaker said the agency will certify the smallest variant of the best-selling MAX when "we have all the data that we need and it is safe."
Whitaker added that he is making sure he is getting briefed "on status, to understand the issues that are arising in that process" on the MAX 7 and other projects.
Whitaker said "the issues are being worked and that will continue."
Boeing declined to comment on whether its schedule projections had changed.
"We will follow the lead of the FAA as we work through the certification process. The FAA will determine when all certification requirements are met," the company said.
In October, company executives said its schedule remained unchanged. Boeing is also awaiting certification of the larger 737 MAX 10.
Southwest Airlines LUV.N, the largest customer for the MAX 7, said last month it expected the FAA to certify the plane by April.
Boeing is currently pursuing an exemption to certain regulations concerning the MAX 7's engine nacelle inlet structure and engine anti-ice system, which are the same as those used by the in-service MAX 8.
The exemption - which would run until May 31, 2026 - would allow MAX 7 certification while Boeing also certifies design changes for both systems, necessary to fix issues involving the overheating of the engine anti-ice system that could cause structural damage to the engine nacelle.
The FAA is accepting comments on the proposed exemption through Dec. 26.
The FAA said last month it would require key flight control design changes to be considered "major" like the system involved in two fatal MAX crashes in 2018 and 2019.
In late 2020, Congress passed sweeping legislation reforming how the FAA certifies new airplanes, including requiring manufacturers to disclose certain safety-critical information, such as information on systems that manipulate flight controls without direct pilot input or commands.
A 2020 report from Congress said: "Boeing failed in its design and development of the MAX, and the FAA failed in its oversight of Boeing and its certification of the aircraft."
Whitaker said the FAA needs to "be constantly looking for other ways to continuously improve the process, raising visibility of issues for certification as they come in."
The FAA must also think about new technologies "and how do we verify they are safe," he said.
Whitaker said the MAX crashes caused the FAA to have a "heightened level of vigilance."
(Reporting by David Shepardson; Editing by Mark Porter, Tomasz Janowski and Jamie Freed)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By David Shepardson and Valerie Insinna ARLINGTON, Virginia Dec 19 (Reuters) - The Federal Aviation Administration has no "specific timetable" to certify the Boeing 737 MAX 7, the agency's top official told Reuters on Tuesday, despite the planemaker previously expecting that to occur by the end of this year. FAA Administrator Michael Whitaker said the agency will certify the smallest variant of the best-selling MAX when "we have all the data that we need and it is safe." The FAA said last month it would require key flight control design changes to be considered "major" like the system involved in two fatal MAX crashes in 2018 and 2019. | Boeing is currently pursuing an exemption to certain regulations concerning the MAX 7's engine nacelle inlet structure and engine anti-ice system, which are the same as those used by the in-service MAX 8. The exemption - which would run until May 31, 2026 - would allow MAX 7 certification while Boeing also certifies design changes for both systems, necessary to fix issues involving the overheating of the engine anti-ice system that could cause structural damage to the engine nacelle. The FAA said last month it would require key flight control design changes to be considered "major" like the system involved in two fatal MAX crashes in 2018 and 2019. | Boeing is currently pursuing an exemption to certain regulations concerning the MAX 7's engine nacelle inlet structure and engine anti-ice system, which are the same as those used by the in-service MAX 8. The exemption - which would run until May 31, 2026 - would allow MAX 7 certification while Boeing also certifies design changes for both systems, necessary to fix issues involving the overheating of the engine anti-ice system that could cause structural damage to the engine nacelle. A 2020 report from Congress said: "Boeing failed in its design and development of the MAX, and the FAA failed in its oversight of Boeing and its certification of the aircraft." | FAA Administrator Michael Whitaker said the agency will certify the smallest variant of the best-selling MAX when "we have all the data that we need and it is safe." Boeing declined to comment on whether its schedule projections had changed. The FAA said last month it would require key flight control design changes to be considered "major" like the system involved in two fatal MAX crashes in 2018 and 2019. | e89fc810-1e41-4a41-bc44-081480e20d3d |
710715.0 | 2023-12-16 01:00:00 UTC | US energy regulator calls for scrutiny of top asset managers | DCOMP | https://www.nasdaq.com/articles/us-energy-regulator-calls-for-scrutiny-of-top-asset-managers | nan | nan | By Ross Kerber
Dec 19 (Reuters) - A member of the U.S. Federal Energy Regulatory Commission (FERC) called for scrutiny of top asset managers' ownership of power utilities, as the oversight body began a review.
In a notice on its website the energy regulator said it had "launched an inquiry into whether and how to revise its policy on financial investment company ownership of electric utilities."
Speaking at a meeting in Washington D.C., which was webcast, Commissioner Mark Christie said big power and water companies often operate as local monopolies, with public service obligations that can conflict with investor interests in areas like profits or environmental goals.
Christie said the commission has to "apply strict scrutiny when a huge asset manager like Vanguard or State Street or BlackRock is buying a big chunk of either the (utility) company itself or its holding company."
"It's great that we're looking at whether or not we need to change the rules of the road" for authorizing utility ownership, Christie said.
Representatives for BlackRock BLK.N, Vanguard and State Street Corp STT.N did not immediately comment.
Technically FERC on Tuesday posted a "notice of inquiry" reviewing its policy for granting waivers to ownership limits. In remarks to journalists after the meeting FERC Chair Willie Phillips did not give a timetable for the review's completion or indicate his views.
"It's time to revisit our authority regarding these financial institutions," he said.
Another commissioner, James Danly, said during the meeting that he would welcome comments about what types of utility control should receive scrutiny.
Even "soft control," or the influence of investment companies, could violate requirements utilities operate for ratepayers' benefit, said Danly, who will not be able to vote on the matter because his term is ending.
(Reporting by Ross Kerber; Editing by David Gregorio)
((ross.kerber@thomsonreuters.com; (617) 412 0093;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Ross Kerber Dec 19 (Reuters) - A member of the U.S. Federal Energy Regulatory Commission (FERC) called for scrutiny of top asset managers' ownership of power utilities, as the oversight body began a review. Speaking at a meeting in Washington D.C., which was webcast, Commissioner Mark Christie said big power and water companies often operate as local monopolies, with public service obligations that can conflict with investor interests in areas like profits or environmental goals. Even "soft control," or the influence of investment companies, could violate requirements utilities operate for ratepayers' benefit, said Danly, who will not be able to vote on the matter because his term is ending. | By Ross Kerber Dec 19 (Reuters) - A member of the U.S. Federal Energy Regulatory Commission (FERC) called for scrutiny of top asset managers' ownership of power utilities, as the oversight body began a review. In a notice on its website the energy regulator said it had "launched an inquiry into whether and how to revise its policy on financial investment company ownership of electric utilities." "It's great that we're looking at whether or not we need to change the rules of the road" for authorizing utility ownership, Christie said. | By Ross Kerber Dec 19 (Reuters) - A member of the U.S. Federal Energy Regulatory Commission (FERC) called for scrutiny of top asset managers' ownership of power utilities, as the oversight body began a review. In a notice on its website the energy regulator said it had "launched an inquiry into whether and how to revise its policy on financial investment company ownership of electric utilities." Christie said the commission has to "apply strict scrutiny when a huge asset manager like Vanguard or State Street or BlackRock is buying a big chunk of either the (utility) company itself or its holding company." | In a notice on its website the energy regulator said it had "launched an inquiry into whether and how to revise its policy on financial investment company ownership of electric utilities." Speaking at a meeting in Washington D.C., which was webcast, Commissioner Mark Christie said big power and water companies often operate as local monopolies, with public service obligations that can conflict with investor interests in areas like profits or environmental goals. Christie said the commission has to "apply strict scrutiny when a huge asset manager like Vanguard or State Street or BlackRock is buying a big chunk of either the (utility) company itself or its holding company." | 14805916-c9a6-4fbc-8b43-e7cae52e63c3 |
710716.0 | 2023-12-16 01:00:00 UTC | Vistra Corp. (VST) is an Incredible Growth Stock: 3 Reasons Why | DCOMP | https://www.nasdaq.com/articles/vistra-corp.-vst-is-an-incredible-growth-stock%3A-3-reasons-why | nan | nan | Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Vistra Corp. (VST) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
While there are numerous reasons why the stock of this company is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings Growth
Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Vistra Corp. is 21.6%, investors should actually focus on the projected growth. The company's EPS is expected to grow 228.9% this year, crushing the industry average, which calls for EPS growth of 6%.
Impressive Asset Utilization Ratio
Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric shows how efficiently a firm is utilizing its assets to generate sales.
Right now, Vistra Corp. has an S/TA ratio of 0.49, which means that the company gets $0.49 in sales for each dollar in assets. Comparing this to the industry average of 0.23, it can be said that the company is more efficient.
In addition to efficiency in generating sales, sales growth plays an important role. And Vistra Corp. looks attractive from a sales growth perspective as well. The company's sales are expected to grow 46.7% this year versus the industry average of 0%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for Vistra Corp. The Zacks Consensus Estimate for the current year has surged 7.1% over the past month.
Bottom Line
While the overall earnings estimate revisions have made Vistra Corp. a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions Vistra Corp. well for outperformance, so growth investors may want to bet on it.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Vistra Corp. (VST) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | Impressive Asset Utilization Ratio Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. Bottom Line While the overall earnings estimate revisions have made Vistra Corp. a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. | However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. While there are numerous reasons why the stock of this company is a great growth pick right now, we have highlighted three of the most important factors below: Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration. | Promising Earnings Estimate Revisions Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. This combination positions Vistra Corp. well for outperformance, so growth investors may want to bet on it. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 3439beb2-5ac0-40f9-b20f-dcdce35dd1e0 |
710717.0 | 2023-12-16 01:00:00 UTC | Looking for a Growth Stock? 3 Reasons Why Hannon Armstrong (HASI) is a Solid Choice | DCOMP | https://www.nasdaq.com/articles/looking-for-a-growth-stock-3-reasons-why-hannon-armstrong-hasi-is-a-solid-choice | nan | nan | Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Hannon Armstrong (HASI) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
While there are numerous reasons why the stock of this provider of financing for sustainable infrastructure projects is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings Growth
Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Hannon Armstrong is 14.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 8.1% this year, crushing the industry average, which calls for EPS growth of -14.6%.
Cash Flow Growth
Cash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for Hannon Armstrong is 15.9%, which is higher than many of its peers. In fact, the rate compares to the industry average of -2.9%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 24.3% over the past 3-5 years versus the industry average of -0.8%.
Promising Earnings Estimate Revisions
Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for Hannon Armstrong have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.4% over the past month.
Bottom Line
Hannon Armstrong has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that Hannon Armstrong is a potential outperformer and a solid choice for growth investors.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | While the historical EPS growth rate for Hannon Armstrong is 14.8%, investors should actually focus on the projected growth. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Click to get this free report Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) : Free Stock Analysis Report To read this article on Zacks.com click here. | However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. While there are numerous reasons why the stock of this provider of financing for sustainable infrastructure projects is a great growth pick right now, we have highlighted three of the most important factors below: Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. Cash Flow Growth Cash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. | While the historical EPS growth rate for Hannon Armstrong is 14.8%, investors should actually focus on the projected growth. This combination indicates that Hannon Armstrong is a potential outperformer and a solid choice for growth investors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | eb755528-d6fb-4bb0-9fd0-1b43e9189d31 |
710718.0 | 2023-12-16 00:00:00 UTC | Canada: all new cars, SUVs, light trucks sold by 2035 must be zero-emission vehicles | DCOMP | https://www.nasdaq.com/articles/canada%3A-all-new-cars-suvs-light-trucks-sold-by-2035-must-be-zero-emission-vehicles | nan | nan | OTTAWA, Dec 19 (Reuters) - Canada on Tuesday released final regulations mandating that all passenger cars, SUVs, crossovers and light trucks sold by 2035 must be zero-emission vehicles, part of the government's overall plan to combat climate change.
The new rules, known as the Electric Vehicle Availability Standard, were first unveiled in 2021. They are designed to help ensure supply is available to the market and shorten wait times to get an electric vehicle (EV).
Under interim targets set by Ottawa, zero-emission vehicles must make up at least 20% of all cars sold by 2026 and at least 60% by 2030. Industry officials say EVs represented 12.1% of new vehicle sales in the third quarter of 2023.
(Reporting by David Ljunggren, editing by Ismail Shakil)
((Reuters Ottawa bureau; david.ljunggren@tr.com)) Keywords: CANADA AUTOS/
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Dec 19 (Reuters) - Canada on Tuesday released final regulations mandating that all passenger cars, SUVs, crossovers and light trucks sold by 2035 must be zero-emission vehicles, part of the government's overall plan to combat climate change. They are designed to help ensure supply is available to the market and shorten wait times to get an electric vehicle (EV). Under interim targets set by Ottawa, zero-emission vehicles must make up at least 20% of all cars sold by 2026 and at least 60% by 2030. | They are designed to help ensure supply is available to the market and shorten wait times to get an electric vehicle (EV). Under interim targets set by Ottawa, zero-emission vehicles must make up at least 20% of all cars sold by 2026 and at least 60% by 2030. (Reporting by David Ljunggren, editing by Ismail Shakil) ((Reuters Ottawa bureau; david.ljunggren@tr.com)) Keywords: CANADA AUTOS/ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Dec 19 (Reuters) - Canada on Tuesday released final regulations mandating that all passenger cars, SUVs, crossovers and light trucks sold by 2035 must be zero-emission vehicles, part of the government's overall plan to combat climate change. They are designed to help ensure supply is available to the market and shorten wait times to get an electric vehicle (EV). (Reporting by David Ljunggren, editing by Ismail Shakil) ((Reuters Ottawa bureau; david.ljunggren@tr.com)) Keywords: CANADA AUTOS/ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, Dec 19 (Reuters) - Canada on Tuesday released final regulations mandating that all passenger cars, SUVs, crossovers and light trucks sold by 2035 must be zero-emission vehicles, part of the government's overall plan to combat climate change. The new rules, known as the Electric Vehicle Availability Standard, were first unveiled in 2021. They are designed to help ensure supply is available to the market and shorten wait times to get an electric vehicle (EV). | a3613c46-34bc-407e-866c-a37cc503b654 |
710719.0 | 2023-12-16 00:00:00 UTC | METALS-Copper climbs on expectations of tightening supplies | DCOMP | https://www.nasdaq.com/articles/metals-copper-climbs-on-expectations-of-tightening-supplies | nan | nan | By Pratima Desai
LONDON, Dec 19 (Reuters) - Copper prices climbed on Tuesday as supply concerns fuelled by mine closures, a sliding dollar and falling stocks in warehouses approved by the London Metal Exchange (LME) triggered buying.
Benchmark copper CMCU3 on the LME was up 1.3% at $8,596 a metric ton at 1701 GMT. Prices of the metal used in the power and construction industries this month touched 4-1/2 month highs of $8,640 a ton. Traders said volumes were subdued.
Analysts are cutting estimates of surpluses for next year or forecasting deficits, partly owing to uncertainty over supplies from First Quantum's FM.TO Cobre mine in Panama. Cobre accounted for 1% of global mined supply last year.
"There are a few micro issues going on in copper," said Marex strategist Alastair Munro, pointing to Cobre Panama along with reduced production guidance from Anglo American AAL.L and inventory data.
"Most of the flows in the metals space are from CTAs," he added, referring to funds that use trends to generate buy and sell signals from numerical models.
Anglo American has reduced its copper production guidance for the next two years by 20% and 18% respectively.
Copper stocks in LME warehouses MCUSTX-TOTAL have risen 8% to 168,650 metric tons since Dec. 6, but cancelled warrants -- metal earmarked for delivery -- at 21% suggest more copper is likely to leave the LME system.
Elsewhere, LME aluminium inventories rose again. At 511,450 tons they have risen 15% over the past couple of days and are weighing on prices of the metal used in the transport, packaging and construction industries.
Aluminium was down 0.8% at $2,265 a ton.
Traders expect further aluminium deliveries to the LME system after the British government imposed sanctions on imports of primary Russian metal.
Overall, industrial metals were supported by a lower U.S. currency, making dollar-priced commodities cheaper for holders of other currencies, which could boost demand. FRX/
In other metals, zinc CMZN3 gained 1.6% to $2,580 a ton, lead CMPB3 firmed by 0.7% to $2,072, tin CMSN3 added 1.5% to $25,190 and nickel CMNI3 was up 1.3% at $16,715.
(Reporting by Pratima Desai Editing by David Goodman and David Evans)
((pratima.desai@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Analysts are cutting estimates of surpluses for next year or forecasting deficits, partly owing to uncertainty over supplies from First Quantum's FM.TO Cobre mine in Panama. "There are a few micro issues going on in copper," said Marex strategist Alastair Munro, pointing to Cobre Panama along with reduced production guidance from Anglo American AAL.L and inventory data. "Most of the flows in the metals space are from CTAs," he added, referring to funds that use trends to generate buy and sell signals from numerical models. | "There are a few micro issues going on in copper," said Marex strategist Alastair Munro, pointing to Cobre Panama along with reduced production guidance from Anglo American AAL.L and inventory data. Anglo American has reduced its copper production guidance for the next two years by 20% and 18% respectively. Copper stocks in LME warehouses MCUSTX-TOTAL have risen 8% to 168,650 metric tons since Dec. 6, but cancelled warrants -- metal earmarked for delivery -- at 21% suggest more copper is likely to leave the LME system. | By Pratima Desai LONDON, Dec 19 (Reuters) - Copper prices climbed on Tuesday as supply concerns fuelled by mine closures, a sliding dollar and falling stocks in warehouses approved by the London Metal Exchange (LME) triggered buying. Copper stocks in LME warehouses MCUSTX-TOTAL have risen 8% to 168,650 metric tons since Dec. 6, but cancelled warrants -- metal earmarked for delivery -- at 21% suggest more copper is likely to leave the LME system. Traders expect further aluminium deliveries to the LME system after the British government imposed sanctions on imports of primary Russian metal. | Cobre accounted for 1% of global mined supply last year. Copper stocks in LME warehouses MCUSTX-TOTAL have risen 8% to 168,650 metric tons since Dec. 6, but cancelled warrants -- metal earmarked for delivery -- at 21% suggest more copper is likely to leave the LME system. Traders expect further aluminium deliveries to the LME system after the British government imposed sanctions on imports of primary Russian metal. | 61d8a25d-5034-4e34-9991-232e6f046851 |
710720.0 | 2023-12-16 00:00:00 UTC | Unveiling Carnival (CCL) Q4 Outlook: Wall Street Estimates for Key Metrics | DCOMP | https://www.nasdaq.com/articles/unveiling-carnival-ccl-q4-outlook%3A-wall-street-estimates-for-key-metrics | nan | nan | Wall Street analysts expect Carnival (CCL) to post quarterly loss of $0.12 per share in its upcoming report, which indicates a year-over-year increase of 85.9%. Revenues are expected to be $5.32 billion, up 38.6% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 10.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Carnival metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenues- Passenger ticket' of $3.39 billion. The estimate indicates a change of +49.3% from the prior-year quarter.
It is projected by analysts that the 'Revenues- Onboard and other' will reach $1.93 billion. The estimate indicates a change of +22.8% from the prior-year quarter.
Analysts' assessment points toward 'Revenues- Tour and Other' reaching $70.01 million. The estimate indicates a year-over-year change of +126.6%.
According to the collective judgment of analysts, 'Available lower berth days (ALBDs)' should come in at 23,295.78 thousand. The estimate is in contrast to the year-ago figure of 21,500 thousand.
The average prediction of analysts places 'Occupancy percentage' at 102.3%. The estimate compares to the year-ago value of 85%.
View all Key Company Metrics for Carnival here>>>
Shares of Carnival have experienced a change of +26% in the past month compared to the +5.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CCL is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Carnival Corporation (CCL) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Wall Street analysts expect Carnival (CCL) to post quarterly loss of $0.12 per share in its upcoming report, which indicates a year-over-year increase of 85.9%. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. | Wall Street analysts expect Carnival (CCL) to post quarterly loss of $0.12 per share in its upcoming report, which indicates a year-over-year increase of 85.9%. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. Click to get this free report Carnival Corporation (CCL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. | Revenues are expected to be $5.32 billion, up 38.6% from the year-ago quarter. Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. | 2bd53773-02e6-4746-919b-a0dd8fa9e1a1 |
710721.0 | 2023-12-16 00:00:00 UTC | ServisFirst (SFBS) Upgraded to Buy: What Does It Mean for the Stock? | DCOMP | https://www.nasdaq.com/articles/servisfirst-sfbs-upgraded-to-buy%3A-what-does-it-mean-for-the-stock | nan | nan | Investors might want to bet on ServisFirst Bancshares (SFBS), as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for ServisFirst is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for ServisFirst imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for ServisFirst
For the fiscal year ending December 2023, this holding company for ServisFirst Bank is expected to earn $3.90 per share, which is a change of -15.4% from the year-ago reported number.
Analysts have been steadily raising their estimates for ServisFirst. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.1%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of ServisFirst to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ServisFirst Bancshares, Inc. (SFBS) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for ServisFirst imply an improvement in the company's underlying business. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions. | The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of ServisFirst to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. | Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of ServisFirst to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. | Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of ServisFirst to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | d391f319-d99d-4671-afc8-731a0efde9f5 |
710722.0 | 2023-12-16 00:00:00 UTC | Broadridge Financial Solutions (BR) is a Great Momentum Stock: Should You Buy? | DCOMP | https://www.nasdaq.com/articles/broadridge-financial-solutions-br-is-a-great-momentum-stock%3A-should-you-buy | nan | nan | Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Broadridge Financial Solutions (BR), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Broadridge Financial Solutions currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for BR that show why this technology outsourcing company shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For BR, shares are up 1.25% over the past week while the Zacks Outsourcing industry is up 2.34% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.08% compares favorably with the industry's 7.01% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of Broadridge Financial Solutions have increased 6.28% over the past quarter, and have gained 47.67% in the last year. On the other hand, the S&P 500 has only moved 5.17% and 19.94%, respectively.
Investors should also take note of BR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, BR is averaging 589,382 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with BR.
Over the past two months, 4 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost BR's consensus estimate, increasing from $7.63 to $7.72 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that BR is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Broadridge Financial Solutions on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Let's discuss some of the components of the Momentum Style Score for BR that show why this technology outsourcing company shows promise as a solid momentum pick. Click to get this free report Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. | Broadridge Financial Solutions currently has a Zacks Rank of #2 (Buy). Over the past two months, 4 earnings estimates moved higher compared to none lower for the full year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | ca2c8400-6b65-4cac-a951-add887d99bc1 |
710723.0 | 2023-12-16 00:00:00 UTC | Intra-Cellular Therapies (ITCI) is a Great Momentum Stock: Should You Buy? | DCOMP | https://www.nasdaq.com/articles/intra-cellular-therapies-itci-is-a-great-momentum-stock%3A-should-you-buy | nan | nan | Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Intra-Cellular Therapies (ITCI), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Intra-Cellular Therapies currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for ITCI that show why this biopharmaceutical company shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For ITCI, shares are up 8.54% over the past week while the Zacks Medical - Biomedical and Genetics industry is up 1.94% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 11.44% compares favorably with the industry's 6.01% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of Intra-Cellular Therapies have increased 20.25% over the past quarter, and have gained 30.21% in the last year. On the other hand, the S&P 500 has only moved 5.17% and 19.94%, respectively.
Investors should also take note of ITCI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, ITCI is averaging 849,545 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with ITCI.
Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost ITCI's consensus estimate, increasing from -$2.10 to -$1.66 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been 2 downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that ITCI is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Intra-Cellular Therapies on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Intra-Cellular Therapies Inc. (ITCI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. Click to get this free report Intra-Cellular Therapies Inc. (ITCI) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. | Intra-Cellular Therapies currently has a Zacks Rank of #2 (Buy). Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | bc50ed7e-71b2-4e6e-8fcd-899302dd7923 |
710724.0 | 2023-12-16 00:00:00 UTC | US STOCKS-Wall St climbs as rate-cut optimism lingers | DCOMP | https://www.nasdaq.com/articles/us-stocks-wall-st-climbs-as-rate-cut-optimism-lingers | nan | nan | By Sruthi Shankar and Johann M Cherian
Dec 19 (Reuters) - Wall Street's main stock indexes rose on Tuesday, building on strong gains in recent weeks as investors continued to bet on a policy pivot by the Federal Reserve next year.
The benchmark S&P 500 .SPXtrades less than 1% shy of its all-time closing high as traders price in an aggressive timetable for interest rate cuts next year after Fed Chair Jerome Powell saidat the U.S. central bank's policy meetinglast week that its historic monetary tightening is likely over.
Despite attempts by policymakers to temper the optimism since the meeting, traders have priced in about 66% chance of the Fed cutting rates by 25 basis points in March, as per the CME Group's FedWatch tool, and cuts of 143 bps by December 2024. FEDWATCH
The blue-chip Dow .DJIsecured a new all-time high, while the Nasdaq 100 index .NDXhit a record high. The small-caps Russell 2000.RUT index also advanced by 1.7% and is on course to outperform the broader market in December, up over 11% month-to-date.
"We've had a massive paradigm shift from the Federal Reserve in November and again in December where they signaled that they're going to begin cutting rates," said Adam Sarhan, chief executive of 50 Park Investments.
"So inflation is no longer an enemy number one for the Fed, and that sparked a big rally in the market because so far the economy hasn't seen a recession."
Meanwhile, a Commerce Department report showed single-family homebuilding surged in November. The PHLX Housing index .HGX gained 1.2%.
Investors are awaiting a slew of data this week including the final reading of third-quarter GDP and the monthly personal consumption expenditure index (PCE), the Fed's preferred inflation gauge.
Richmond Fed President Thomas Barkin in an interview with Yahoo Finance welcomed the retreat in inflation but refrained from saying how that affects his outlook for central bank interest rate policy next year.
Fed Atlanta President Raphael Bostic and Fed Chicago President Austan Goolsbee are scheduled to speak later in the day. Bostic is a voting member in the FOMC's rate-setting committee next year.
At 11:46 a.m. ET, the Dow Jones Industrial Average .DJI was up 219.66 points, or 0.59%, at 37,525.68, the S&P 500 .SPX was up 23.53 points, or 0.50%, at 4,764.09, and the Nasdaq Composite .IXIC was up 80.32 points, or 0.54%, at 14,985.51.
Light trading volumes are expected to impact market moves in the run-up to the Christmas and New Year holidays.
Among single stocks, AccentureACN.Ndipped 0.2% after the IT services provider issued a downbeat second-quarter revenue forecast.
BoeingBA.Ngained 1.7% after German airline Lufthansa LHAG.DE said it ordered 40 737-8 MAX jets from the plane maker and agreed to 60 future purchasing options.
KenvueKVUE.Nclimbed 4.1% after a U.S. court ruled in favor of the consumer health company in a lawsuit which said exposure to its pain-reducing drug Tylenol might contribute to autism or attention-deficit hyperactivity disorder during pregnancy.
PepsiCo PEP.O slipped 0.4% after J.P. Morgan downgraded the stock to "neutral" from "overweight", while Amgen AMGN.O rose 1.7% after BMO upgraded its rating on the drugmaker to "outperform" from "market perform".
Advancing issues outnumbered decliners by a 5.30-to-1 ratio on the NYSE and by a 2.95-to-1 ratio on the Nasdaq.
The S&P index recorded 40 new 52-week highs and one new lows, while the Nasdaq recorded 156 new highs and 65 new lows.
(Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru; Editing by Maju Samuel)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Sruthi Shankar and Johann M Cherian Dec 19 (Reuters) - Wall Street's main stock indexes rose on Tuesday, building on strong gains in recent weeks as investors continued to bet on a policy pivot by the Federal Reserve next year. The benchmark S&P 500 .SPXtrades less than 1% shy of its all-time closing high as traders price in an aggressive timetable for interest rate cuts next year after Fed Chair Jerome Powell saidat the U.S. central bank's policy meetinglast week that its historic monetary tightening is likely over. Investors are awaiting a slew of data this week including the final reading of third-quarter GDP and the monthly personal consumption expenditure index (PCE), the Fed's preferred inflation gauge. | FEDWATCH The blue-chip Dow .DJIsecured a new all-time high, while the Nasdaq 100 index .NDXhit a record high. Richmond Fed President Thomas Barkin in an interview with Yahoo Finance welcomed the retreat in inflation but refrained from saying how that affects his outlook for central bank interest rate policy next year. The S&P index recorded 40 new 52-week highs and one new lows, while the Nasdaq recorded 156 new highs and 65 new lows. | By Sruthi Shankar and Johann M Cherian Dec 19 (Reuters) - Wall Street's main stock indexes rose on Tuesday, building on strong gains in recent weeks as investors continued to bet on a policy pivot by the Federal Reserve next year. The benchmark S&P 500 .SPXtrades less than 1% shy of its all-time closing high as traders price in an aggressive timetable for interest rate cuts next year after Fed Chair Jerome Powell saidat the U.S. central bank's policy meetinglast week that its historic monetary tightening is likely over. Despite attempts by policymakers to temper the optimism since the meeting, traders have priced in about 66% chance of the Fed cutting rates by 25 basis points in March, as per the CME Group's FedWatch tool, and cuts of 143 bps by December 2024. | By Sruthi Shankar and Johann M Cherian Dec 19 (Reuters) - Wall Street's main stock indexes rose on Tuesday, building on strong gains in recent weeks as investors continued to bet on a policy pivot by the Federal Reserve next year. Despite attempts by policymakers to temper the optimism since the meeting, traders have priced in about 66% chance of the Fed cutting rates by 25 basis points in March, as per the CME Group's FedWatch tool, and cuts of 143 bps by December 2024. FEDWATCH The blue-chip Dow .DJIsecured a new all-time high, while the Nasdaq 100 index .NDXhit a record high. | 161d425e-11b9-4192-babc-b2befc56a0c1 |
710725.0 | 2023-12-16 00:00:00 UTC | Westinghouse Air Brake Technologies (WAB) Is Up 3.11% in One Week: What You Should Know | DCOMP | https://www.nasdaq.com/articles/westinghouse-air-brake-technologies-wab-is-up-3.11-in-one-week%3A-what-you-should-know | nan | nan | Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Westinghouse Air Brake Technologies (WAB), a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Westinghouse Air Brake Technologies currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for WAB that show why this maker of parts for locomotives, subways and buses shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For WAB, shares are up 3.11% over the past week while the Zacks Transportation - Equipment and Leasing industry is up 4.03% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 6.1% compares favorably with the industry's 4.97% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of Westinghouse Air Brake Technologies have increased 14.2% over the past quarter, and have gained 23.34% in the last year. On the other hand, the S&P 500 has only moved 5.17% and 19.94%, respectively.
Investors should also pay attention to WAB's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. WAB is currently averaging 886,948 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with WAB.
Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost WAB's consensus estimate, increasing from $5.68 to $5.95 in the past 60 days. Looking at the next fiscal year, 6 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that WAB is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Westinghouse Air Brake Technologies on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Click to get this free report Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. | Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. WAB is currently averaging 886,948 shares for the last 20 days. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 43cc7767-a5bf-4725-bd40-7e669e19c954 |
710726.0 | 2023-12-16 00:00:00 UTC | Axalta Coating Systems (AXTA) Is Up 2.95% in One Week: What You Should Know | DCOMP | https://www.nasdaq.com/articles/axalta-coating-systems-axta-is-up-2.95-in-one-week%3A-what-you-should-know | nan | nan | Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Axalta Coating Systems (AXTA), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Axalta Coating Systems currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if AXTA is a promising momentum pick, let's examine some Momentum Style elements to see if this high-performance coating system maker holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For AXTA, shares are up 2.95% over the past week while the Zacks Chemical - Specialty industry is up 5% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 8.65% compares favorably with the industry's 8.69% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Axalta Coating Systems have risen 23.82%, and are up 34.61% in the last year. In comparison, the S&P 500 has only moved 5.17% and 19.94%, respectively.
Investors should also pay attention to AXTA's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. AXTA is currently averaging 2,090,004 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with AXTA.
Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost AXTA's consensus estimate, increasing from $1.46 to $1.58 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that AXTA is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Axalta Coating Systems on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Bottom Line Taking into account all of these elements, it should come as no surprise that AXTA is a #1 (Strong Buy) stock with a Momentum Score of B. | Below, we take a look at Axalta Coating Systems (AXTA), a company that currently holds a Momentum Style Score of B. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Click to get this free report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. | Below, we take a look at Axalta Coating Systems (AXTA), a company that currently holds a Momentum Style Score of B. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | f0c3e07c-5e8a-41c4-9452-dff37f7990ca |
710727.0 | 2023-12-16 00:00:00 UTC | What Makes Viad (VVI) a Strong Momentum Stock: Buy Now? | DCOMP | https://www.nasdaq.com/articles/what-makes-viad-vvi-a-strong-momentum-stock%3A-buy-now | nan | nan | Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Viad (VVI), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Viad currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for VVI that show why this trade show company shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For VVI, shares are up 3.88% over the past week while the Zacks Business - Services industry is up 1.91% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.08% compares favorably with the industry's 2.4% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of Viad have increased 33.67% over the past quarter, and have gained 29.28% in the last year. On the other hand, the S&P 500 has only moved 5.17% and 19.94%, respectively.
Investors should also pay attention to VVI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. VVI is currently averaging 112,104 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with VVI.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost VVI's consensus estimate, increasing from $0.25 to $0.60 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that VVI is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Viad on your short list.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Viad Corp (VVI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Let's discuss some of the components of the Momentum Style Score for VVI that show why this trade show company shows promise as a solid momentum pick. Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. | The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Let's discuss some of the components of the Momentum Style Score for VVI that show why this trade show company shows promise as a solid momentum pick. | Viad currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 0276431b-8db5-4df6-a16a-1eb07de849b8 |
710728.0 | 2023-12-16 00:00:00 UTC | Western Midstream (WES) Upgraded to Strong Buy: What Does It Mean for the Stock? | DCOMP | https://www.nasdaq.com/articles/western-midstream-wes-upgraded-to-strong-buy%3A-what-does-it-mean-for-the-stock | nan | nan | Western Midstream (WES) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Western Midstream is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Western Midstream, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Western Midstream
This oil and gas transportation and storage company is expected to earn $2.64 per share for the fiscal year ending December 2023, which represents a year-over-year change of -12%.
Analysts have been steadily raising their estimates for Western Midstream. Over the past three months, the Zacks Consensus Estimate for the company has increased 4.5%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Western Midstream to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Western Midstream Partners, LP (WES) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. You can learn more about the Zacks Rank here >>> The upgrade of Western Midstream to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. | Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Western Midstream to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. You can learn more about the Zacks Rank here >>> The upgrade of Western Midstream to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 367bef22-614f-45ec-9d2c-0e261368f3ba |
710729.0 | 2023-12-16 00:00:00 UTC | Klabin SA (KLBAY) Upgraded to Buy: Here's What You Should Know | DCOMP | https://www.nasdaq.com/articles/klabin-sa-klbay-upgraded-to-buy%3A-heres-what-you-should-know | nan | nan | Klabin SA (KLBAY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Klabin SA basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Klabin SA, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Klabin SA
This company is expected to earn $1.70 per share for the fiscal year ending December 2023, which represents a year-over-year change of 8.3%.
Analysts have been steadily raising their estimates for Klabin SA. Over the past three months, the Zacks Consensus Estimate for the company has increased 77.1%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Klabin SA to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Klabin SA (KLBAY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. Therefore, the Zacks rating upgrade for Klabin SA basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. | Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Klabin SA to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Therefore, the Zacks rating upgrade for Klabin SA basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 07aa58c6-078d-41c7-afaf-8275607d9e92 |
710730.0 | 2023-12-16 00:00:00 UTC | Citizens Financial (CFG) Under Spotlight for Its Dividend Yield | DCOMP | https://www.nasdaq.com/articles/citizens-financial-cfg-under-spotlight-for-its-dividend-yield | nan | nan | Solid dividend-yielding stocks are highly desirable in an uncertain macroeconomic environment. One such stock from the banking industry is Citizens Financial Group, Inc. CFG.
This Providence, RI-based company offers retail and commercial banking products and services to individuals, institutions and companies.
CFG has been paying quarterly dividends on a regular basis and raising the same. In July 2022, the company increased its common stock dividend by 8% to 42 cents per share. Over the past five years, it increased dividends four times, with an annualized dividend growth rate of 6.5%.
Considering the Dec 18 closing price of $32.96 per share, CFG’s current dividend yield is pegged at 5%. This is impressive compared with the industry’s average of 2.9% and attracts investors as it represents a steady income stream.
Is CFG stock worth a look to earn a high dividend yield? Let us check the company’s fundamentals to understand its risks and rewards for making a proper investment decision.
Apart from regular quarterly dividend payouts, CFG has a share repurchase program in place. In February 2023, it increased the capacity of the common share repurchase program by an additional $1.15 billion, bringing the total authorizing capacity to $2 million. During the nine months ended Sep 30, 2023, it repurchased $906 million of its common stock, with $1.1 billion remaining under the current authorization.
As of Sep 30, 2023, the company’s capital ratios exceeded regulatory requirements, with a Common Equity Tier 1 (CET1) ratio and a total capital ratio of 10.4% and 13.4%, respectively. Citizens Financials’ focus on maintaining a strong capital position will support capital distribution activities.
As of Sep 30, 2023, the company had total borrowed funds of $17.6 billion, while total available liquidity was $75.2 billion, indicating debt levels will be manageable. Though its times interest earned ratio declined sequentially in third-quarter 2023 to 4.5, it remains at a decent level. The company’s senior long-term debt enjoyed investment-grade credit ratings of BBB+, BBB+ and Baa1 from Standard & Poor’s, Fitch, and Moody’s, respectively. Given its decent liquidity, dividend payments seem sustainable.
Citizens Financial’s long-term strategy involved growth in wealth management offerings, improvement of capabilities in the high-net-worth segment and expansion into the key markets. In October 2023, it launched Citizens Private Bank, enhancing its operations in the wealth management space. The company plans to open six private banking offices in 2023 and throughout 2024.
However, rising costs on expansion moves will likely limit Citizens Financial's bottom-line growth. High mortgage rates will affect mortgage banking fees, while commercial loan concentration remains worrisome.
Over the past six months, shares of CFG have gained 20.9% compared with the industry’s rise of 15.8%.
Image Source: Zacks Investment Research
CFG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Bank Stocks With Attractive Dividend Yields
Banking stocks like Premier Financial PFC and KeyCorp KEY are worth a look as these, too, have robust dividend yields.
Considering the Dec 18 closing price, PFC’s dividend yield is pegged at 5.3%. In the past six months, PFC shares have gained 40.3%.
Based on the last day’s closing price, KeyCorp’s dividend yield is pinned at 5.7%. In the past six months, KEY shares have gained 42.1%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
KeyCorp (KEY) : Free Stock Analysis Report
Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report
Premier Financial Corp. (PFC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Citizens Financial’s long-term strategy involved growth in wealth management offerings, improvement of capabilities in the high-net-worth segment and expansion into the key markets. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | Considering the Dec 18 closing price of $32.96 per share, CFG’s current dividend yield is pegged at 5%. Other Bank Stocks With Attractive Dividend Yields Banking stocks like Premier Financial PFC and KeyCorp KEY are worth a look as these, too, have robust dividend yields. Click to get this free report KeyCorp (KEY) : Free Stock Analysis Report Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report Premier Financial Corp. (PFC) : Free Stock Analysis Report To read this article on Zacks.com click here. | In July 2022, the company increased its common stock dividend by 8% to 42 cents per share. Other Bank Stocks With Attractive Dividend Yields Banking stocks like Premier Financial PFC and KeyCorp KEY are worth a look as these, too, have robust dividend yields. Click to get this free report KeyCorp (KEY) : Free Stock Analysis Report Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report Premier Financial Corp. (PFC) : Free Stock Analysis Report To read this article on Zacks.com click here. | One such stock from the banking industry is Citizens Financial Group, Inc. CFG. Is CFG stock worth a look to earn a high dividend yield? Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 357231fb-7b5c-40df-b109-3643453a82d3 |
710731.0 | 2023-12-16 00:00:00 UTC | Snap-On (SNA) Upgraded to Buy: Here's Why | DCOMP | https://www.nasdaq.com/articles/snap-on-sna-upgraded-to-buy%3A-heres-why | nan | nan | Snap-On (SNA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Snap-On is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Snap-On, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Snap-On
This tool and diagnostic equipment maker is expected to earn $18.62 per share for the fiscal year ending December 2023, which represents a year-over-year change of 10.7%.
Analysts have been steadily raising their estimates for Snap-On. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.9%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Snap-On to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Snap-On Incorporated (SNA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. | Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Snap-On to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. | Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Harnessing the Power of Earnings Estimate Revisions As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | acacfd61-8e00-441c-b135-ba2571756dce |
710732.0 | 2023-12-16 00:00:00 UTC | Citigroup (C) to Exit Muni Business, Focus on Core Strengths | DCOMP | https://www.nasdaq.com/articles/citigroup-c-to-exit-muni-business-focus-on-core-strengths | nan | nan | Citigroup Inc. C, after several months of review, has planned the dismantling of its municipal bond business by the end of March 2024, per an internal bank memo. According to a person familiar with the matter, the move would affect around 100 Citigroup employees.
The company had a flourishing municipal bond business for several years. However, several concerns in the business operations have caused it to consider the sale of the unit.
Two of C’s executives, namely, Andy Morton and Peter Babej stated, "The economics of these activities are no longer viable, given our commitment to increase the firm’s overall returns."
Going forward, new capital requirements are expected to make the business less profitable. Moreover, certain government efforts at state levels have restricted the bank’s ability to participate in the municipal business until it complies with the local requirements. Notably, the state of Texas removed Citigroup from various deals because of its firearms policies.
Nonetheless, per its memo, Citigroup has communicated that it would continue to work with state and local governments on infrastructure projects through public-private partnerships as well as the private placement market. Also, the bank will purchase municipal bonds and finance affordable housing projects in the state.
The business exit is in line with Jane Fraser’s focus to align the company’s efforts to serve the big, multinational corporations and increase operational efficiency by withdrawing from the non-profitable segments.
Particularly, since April 2021, Citigroup has been emphasizing on growth in core businesses by shrinking international operations. The company remains on track to exit the consumer banking business in several international markets and focus on growth in wealth management and personal banking space.
Jane Fraser has also been simplifying Citigroup’s governance structure by eliminating various management layers to increase efficiency. Accordingly, the leaders of each of C’s five main businesses will be members of the Executive Management team and report directly to Fraser, thus increasing accountability and ensuring a swifter decision-making process.
In line with the organizational realignment, in November 2023, Citigroup commenced the elimination of various jobs. Per a Yahoo Finance article quoting Bloomberg, the job cuts involved approximately 10% of Citigroup’s senior manager roles, which aggregated to around 300 managers.
The company’s shares have gained 3.1% in the past six months compared with the industry’s 16.1% growth.
Image Source: Zacks Investment Research
C presently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Divestures by Other Companies
Earlier this month, BOK Financial Corporation BOKF announced the sale of its risk management and employee benefits insurance brokerage and consulting business — BOK Financial Insurance, Inc. — to USI Insurance Services.
BOKF expects the transaction to result in a pre-tax gain of $28 million post-transaction-related expenses. The bank intends to use this gain to realize an equivalent loss on its available-for-sale securities portfolio and will rotate into higher-yielding securities. This will result in a net benefit to BOKF’s recurring earnings in the upcoming years.
Cadence Bank CADE closed the sale of its insurance business, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. AJG in a cash deal worth $904 million. The amount is subjected to certain customary purchase price adjustments.
The deal between CADE and AJG was announced on Oct 24, 2023, and was expected to have a positive impact on CADE’s earnings per share. The company projected that the transaction would result in an immediate net capital increase of approximately $620 million and net cash proceeds would amount to around $650 million. Both estimations are made on an after-tax basis.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Citigroup Inc. (C) : Free Stock Analysis Report
BOK Financial Corporation (BOKF) : Free Stock Analysis Report
Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report
Cadence Bank (CADE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nonetheless, per its memo, Citigroup has communicated that it would continue to work with state and local governments on infrastructure projects through public-private partnerships as well as the private placement market. The business exit is in line with Jane Fraser’s focus to align the company’s efforts to serve the big, multinational corporations and increase operational efficiency by withdrawing from the non-profitable segments. Accordingly, the leaders of each of C’s five main businesses will be members of the Executive Management team and report directly to Fraser, thus increasing accountability and ensuring a swifter decision-making process. | Divestures by Other Companies Earlier this month, BOK Financial Corporation BOKF announced the sale of its risk management and employee benefits insurance brokerage and consulting business — BOK Financial Insurance, Inc. — to USI Insurance Services. Cadence Bank CADE closed the sale of its insurance business, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. AJG in a cash deal worth $904 million. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report BOK Financial Corporation (BOKF) : Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report Cadence Bank (CADE) : Free Stock Analysis Report To read this article on Zacks.com click here. | The company remains on track to exit the consumer banking business in several international markets and focus on growth in wealth management and personal banking space. Divestures by Other Companies Earlier this month, BOK Financial Corporation BOKF announced the sale of its risk management and employee benefits insurance brokerage and consulting business — BOK Financial Insurance, Inc. — to USI Insurance Services. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report BOK Financial Corporation (BOKF) : Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report Cadence Bank (CADE) : Free Stock Analysis Report To read this article on Zacks.com click here. | Also, the bank will purchase municipal bonds and finance affordable housing projects in the state. Jane Fraser has also been simplifying Citigroup’s governance structure by eliminating various management layers to increase efficiency. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | c8c64b39-a88c-4cb0-8e62-a37b3da44df5 |
710733.0 | 2023-12-16 00:00:00 UTC | CARA's Late-Stage Skin Disease Study Fails, Stock Plummets 49% | DCOMP | https://www.nasdaq.com/articles/caras-late-stage-skin-disease-study-fails-stock-plummets-49 | nan | nan | Cara Therapeutics, Inc. CARA, a commercial-stage company, announced the failure of its dose-finding Part A of the KIND 1 study, evaluating the efficacy and safety of oral difelikefalin as an adjunct therapy to topical corticosteroids (TCS) for moderate-to-severe pruritus in adult patients with atopic dermatitis (AD).
Cara already markets an intravenous version of difelikefalin, a kappa opioid receptor agonist, in the form of Korsuva (difelikefalin) injection. Korsuva injection is the first and only FDA-approved treatment for moderate-to-severe pruritus associated with CKD in adults undergoing hemodialysis. In the EU and UK, the drug is marketed under the brand name Kapruvia.
Per the data readout from the KIND 1 study, oral difelikefalin as an adjunct to TCS did not demonstrate a meaningful clinical benefit compared to TCS monotherapy. Following this outcome, Cara discontinued its clinical program in pruritus associated with AD.
Cara anticipates ending 2023 with approximately $100 million in cash, which indicates that the company might fall short of cash to continue its operations in the absence of any additional funding.
Cara’s stock plunged 48.9% in the last trading session, as the investors were disappointed by the AD study results, followed by the discontinuation of the same. Year to date, shares of CARA have plummeted 94.1% compared with the industry’s 17.7% decline.
Image Source: Zacks Investment Research
The dose-finding Part A of the phase III KIND 1 study enrolled 287 adult patients with moderate-to-severe pruritus with AD. The total patient population was then randomized into four cohorts, receiving either a twice-daily dose of oral difelikefalin tablets (0.25 mg or 0.5 mg) plus TCS or twice-daily placebo tablets plus TCS/vehicle.
The proportion of patients experiencing a ≥4-point improvement at week 12from baseline in the worst itch numeric rating scale (a metric used in this respect) comprised the primary endpoint of Part A of the late-stage study.
The candidate, however, was overall well tolerated in Part A of the late-stage study and demonstrated a safety profile consistent with that observed in previous studies.
Notably, Cara is evaluating oral difelikefalin for two other indications, moderate-to-severe pruritus associated with advanced chronic kidney disease (CKD) and notalgia paresthetica (NP), in separate mid-late-stage studies.
The phase III KICK clinical program of oral difelikefalin in advanced CKD is currently enrolling patients. Cara expects to report top-line results from this program in the second half of 2024.
On the other hand, the phase II/III KOURAGE clinical program in NP is also currently enrolling patients. The company anticipates sharing data from Part A, the dose-finding portion of the study, in the second half of 2024. Final top-line data from the entire mid-late-stage program is expected in the first half of 2026.
Cara Therapeutics, Inc. Price and Consensus
Cara Therapeutics, Inc. price-consensus-chart | Cara Therapeutics, Inc. Quote
Zacks Rank and Stocks to Consider
Cara currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth mentioning are Puma Biotechnology, Inc. PBYI, ADMA Biologics ADMA and Agenus AGEN. While PBYI sports a Zacks Rank #1 (Strong Buy), ADMA and AGEN carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, the Zacks Consensus Estimate for Puma Biotech’s 2023 earnings per share (EPS) has decreased from 73 cents to 72 cents. During the same time frame, the consensus estimate for Puma Biotech’s 2024 EPS has increased from 62 cents to 64 cents. In the year so far, shares of PBYI have lost 6.6%.
PBYI’s earnings beat estimates in three of the last four quarters while missing on one occasion, delivering a four-quarter average earnings surprise of 76.55%.
In the past 30 days, the Zacks Consensus Estimate for ADMA Biologics’ 2023 loss per share has remained constant at 3 cents. The consensus estimate for ADMA Biologics’ 2024 EPS is pegged at 16 cents. In the year so far, shares of ADMA have gained 6.7%.
ADMA beat estimates in three of the trailing four quarters and matched in one, delivering an average earnings surprise of 63.57%.
In the past 30 days, the Zacks Consensus Estimate for Agenus’ 2023 loss per share has remained constant at 63 cents. During the same time frame, the consensus estimate for Agenus’ 2024 loss per share has remained constant at 45 cents. In the year so far, shares of AGEN have plunged 70.1%.
AGEN beat estimates in one of the trailing four quarters, matching in one and missing the mark on the other two occasions, delivering an average earnings surprise of 0.49%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Image Source: Zacks Investment Research The dose-finding Part A of the phase III KIND 1 study enrolled 287 adult patients with moderate-to-severe pruritus with AD. The proportion of patients experiencing a ≥4-point improvement at week 12from baseline in the worst itch numeric rating scale (a metric used in this respect) comprised the primary endpoint of Part A of the late-stage study. Notably, Cara is evaluating oral difelikefalin for two other indications, moderate-to-severe pruritus associated with advanced chronic kidney disease (CKD) and notalgia paresthetica (NP), in separate mid-late-stage studies. | Image Source: Zacks Investment Research The dose-finding Part A of the phase III KIND 1 study enrolled 287 adult patients with moderate-to-severe pruritus with AD. Cara Therapeutics, Inc. Price and Consensus Cara Therapeutics, Inc. price-consensus-chart | Cara Therapeutics, Inc. Quote Zacks Rank and Stocks to Consider Cara currently carries a Zacks Rank #3 (Hold). Click to get this free report Agenus Inc. (AGEN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Cara Therapeutics, Inc. (CARA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Cara Therapeutics, Inc. CARA, a commercial-stage company, announced the failure of its dose-finding Part A of the KIND 1 study, evaluating the efficacy and safety of oral difelikefalin as an adjunct therapy to topical corticosteroids (TCS) for moderate-to-severe pruritus in adult patients with atopic dermatitis (AD). Cara Therapeutics, Inc. Price and Consensus Cara Therapeutics, Inc. price-consensus-chart | Cara Therapeutics, Inc. Quote Zacks Rank and Stocks to Consider Cara currently carries a Zacks Rank #3 (Hold). Click to get this free report Agenus Inc. (AGEN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Cara Therapeutics, Inc. (CARA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research The dose-finding Part A of the phase III KIND 1 study enrolled 287 adult patients with moderate-to-severe pruritus with AD. The company anticipates sharing data from Part A, the dose-finding portion of the study, in the second half of 2024. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 98df371c-df4a-48fb-9834-15fd0c40c9ea |
710734.0 | 2023-12-16 00:00:00 UTC | Nissan (NSANY) Partners With China University to Export EVs | DCOMP | https://www.nasdaq.com/articles/nissan-nsany-partners-with-china-university-to-export-evs | nan | nan | Nissan Motor Co., Ltd. NSANY plans to export electric vehicles (“EVs”) developed in China, for which it has collaborated with Tsinghua University. Per Reuters, the partnership aims to deploy local resources to speed up research and development on electrification.
Per Masashi Matsuyama, vice president of Nissan Motor, the company is contemplating an option to export the existing internal combustion engine line-up and forthcoming electric and plug-in hybrid cars developed and manufactured in China to theglobal market
The automaker plans to target the same market as its China counterparts, such as BYD, he added.
Nissan is mimicking the stance of foreign brands like Tesla, BMW and Ford, who are expanding the sales of China-developed cars to benefit from the country's lower manufacturing costs and enhance the capacity utilization of their factories.
In the first 10 months of the year, Nissan sold 2.8 million vehicles in China, which is just above a fifth of Nissan's worldwide sales, down from more than a third for the corresponding period of 2022.
This year, the Japan-based automakers have faced challenges in the China market due to the soaring popularity of local automakers and fierce price competition.
Nissan announced the launch of a joint research center with Tsinghua University next year to focus on research and development of EVs, including charging infrastructure and battery recycling.
The automaker is planning to develop 10 new-energy vehicles for China. Among those vehicles, it will develop four under its brand name and the remaining with China joint venture partners. The first model with the Nissan brand is scheduled to launch in the second half of 2024.
Nissan has cooperated with Tsinghua University on joint research for intelligent mobility and autonomous driving technology since 2016. The launch of the research center is an extension of the collaborative research effort.
Zacks Rank & Other Key Picks
NSANY currently carries a Zacks Rank #2 (Buy).
Some other top-ranked players in the auto space are Volvo VLVLY, Stellantis N.V. STLA and BYD Company Limited BYDDY. VLVLY and STLA sport a Zacks Rank #1 (Strong Buy), and BYDDY carries Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 70.6%, respectively. The EPS estimate for 2023 and 2024 has increased 8 cents and 7 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales and earnings suggests year-over-year growth of 12.3% and 10.5%, respectively. The EPS estimate for 2024 has increased 4 cents in the past 60 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales and earnings indicates year-over-year growth of 34.2% and 74.7%, respectively. The EPS estimate for 2023 and 2024 has increased 59 cents and 55 cents, respectively, in the past 60 days.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nissan Motor Co., Ltd. NSANY plans to export electric vehicles (“EVs”) developed in China, for which it has collaborated with Tsinghua University. Per Masashi Matsuyama, vice president of Nissan Motor, the company is contemplating an option to export the existing internal combustion engine line-up and forthcoming electric and plug-in hybrid cars developed and manufactured in China to theglobal market Nissan is mimicking the stance of foreign brands like Tesla, BMW and Ford, who are expanding the sales of China-developed cars to benefit from the country's lower manufacturing costs and enhance the capacity utilization of their factories. | Nissan Motor Co., Ltd. NSANY plans to export electric vehicles (“EVs”) developed in China, for which it has collaborated with Tsinghua University. VLVLY and STLA sport a Zacks Rank #1 (Strong Buy), and BYDDY carries Zacks Rank #2. Click to get this free report Nissan Motor Co. (NSANY) : Free Stock Analysis Report AB Volvo (VLVLY) : Free Stock Analysis Report Byd Co., Ltd. (BYDDY) : Free Stock Analysis Report Stellantis N.V. (STLA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Nissan announced the launch of a joint research center with Tsinghua University next year to focus on research and development of EVs, including charging infrastructure and battery recycling. VLVLY and STLA sport a Zacks Rank #1 (Strong Buy), and BYDDY carries Zacks Rank #2. Click to get this free report Nissan Motor Co. (NSANY) : Free Stock Analysis Report AB Volvo (VLVLY) : Free Stock Analysis Report Byd Co., Ltd. (BYDDY) : Free Stock Analysis Report Stellantis N.V. (STLA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Nissan Motor Co., Ltd. NSANY plans to export electric vehicles (“EVs”) developed in China, for which it has collaborated with Tsinghua University. VLVLY and STLA sport a Zacks Rank #1 (Strong Buy), and BYDDY carries Zacks Rank #2. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | e5d75808-c46d-4159-b824-158157174960 |
710735.0 | 2023-12-16 00:00:00 UTC | Arcutis (ARQT) Up on FDA Nod for Zoryve in Seborrheic Dermatitis | DCOMP | https://www.nasdaq.com/articles/arcutis-arqt-up-on-fda-nod-for-zoryve-in-seborrheic-dermatitis | nan | nan | Arcutis Biotherapeutics, Inc. ARQT announced that the FDA has approved the new drug application (NDA) for Zoryve (roflumilast) topical foam 0.3% for the treatment of seborrheic dermatitis in patients aged nine years and above. Shares of the company were up 4.1% on Dec 18, following the announcement of the news on Dec 15.
Seborrheic dermatitis is a skin condition that usually affects the scalp. Zoryve once-daily steroid-free foam is effective, safe, well-tolerated for use on all affected areas of the body, including hair-bearing areas.
Following the latest nod, Zoryve foam is now the first drug to be approved by the FDA to treat seborrheic dermatitis with a new mechanism of action in more than two decades. Arcutis plans to launch Zoryve foam in the United States by the end of January 2024.
The above approval was based on positive data from two studies – the STRATUM and the phase II (Trial 203) study.
Data from the STRATUM study showed that around 80% of individuals treated with Zoryve foam 0.3% achieved Investigator Global Assessment (IGA) success rate at week 8 compared to 58% in the vehicle arm, thereby meeting the primary endpoint. Treatment with Zoryve foam also led to statistically significant improvement over vehicle arm on all secondary endpoints, including itch, scaling and erythema (redness) in the STRATUM study.
Meanwhile, in the phase II (Trial 203) study, 73% of individuals treated with Zoryve foam achieved IGA success compared with 40.8% in the vehicle arm.
Following the latest FDA nod for Zoryve foam in seborrheic dermatitis, the company is planning to submit a supplemental new drug application (sNDA) seeking approval for Zoryve foam to treat scalp and body psoriasis.
Shares of Arcutis have plunged 82.1% in the past year compared with the industry’s decline of 18.3%.
Image Source: Zacks Investment Research
Zoryve cream formulation is approved in the United States for the treatment of plaque psoriasis in patients aged 12 years and above. The FDA approved the sNDA for Zoryve cream 0.3% to treat patients in the age group of 6-11 years suffering from plaque psoriasis in October 2023.
In the first nine months of 2023, Arcutis earned $15.6 million from the sale of the drug.
Another sNDA seeking label expansion of roflumilast cream 0.15% to treat patients aged six years and older with atopic dermatitis is currently under review in the United States. A decision from the FDA is expected on Jul 07, 2024.
Zacks Rank & Other Stocks to Consider
Arcutis currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the healthcare sector are Journey Medical Corporation DERM, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Journey Medical’s 2023 loss per share have narrowed from $1.28 to 16 cents. Meanwhile, loss per share estimates for 2024 have narrowed from 41 cents to 35 cents. In the past year, shares of DERM have surged 533.6%.
Earnings of Journey Medical beat estimates in one of the last four quarters while missing the same on the remaining three occasions. DERM delivered a four-quarter earnings surprise of 118.25%, on average.
In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $2.35 to $2.04. In the past year, shares of TRDA have decreased 8.9%.
Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 64 cents. In the past year, shares of PBYI have lost 22.2%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Arcutis Biotherapeutics, Inc. ARQT announced that the FDA has approved the new drug application (NDA) for Zoryve (roflumilast) topical foam 0.3% for the treatment of seborrheic dermatitis in patients aged nine years and above. Data from the STRATUM study showed that around 80% of individuals treated with Zoryve foam 0.3% achieved Investigator Global Assessment (IGA) success rate at week 8 compared to 58% in the vehicle arm, thereby meeting the primary endpoint. Some other top-ranked stocks in the healthcare sector are Journey Medical Corporation DERM, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy). | Arcutis Biotherapeutics, Inc. ARQT announced that the FDA has approved the new drug application (NDA) for Zoryve (roflumilast) topical foam 0.3% for the treatment of seborrheic dermatitis in patients aged nine years and above. Meanwhile, in the phase II (Trial 203) study, 73% of individuals treated with Zoryve foam achieved IGA success compared with 40.8% in the vehicle arm. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Journey Medical Corporation (DERM) : Free Stock Analysis Report Arcutis Biotherapeutics, Inc. (ARQT) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Arcutis Biotherapeutics, Inc. ARQT announced that the FDA has approved the new drug application (NDA) for Zoryve (roflumilast) topical foam 0.3% for the treatment of seborrheic dermatitis in patients aged nine years and above. Following the latest FDA nod for Zoryve foam in seborrheic dermatitis, the company is planning to submit a supplemental new drug application (sNDA) seeking approval for Zoryve foam to treat scalp and body psoriasis. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Journey Medical Corporation (DERM) : Free Stock Analysis Report Arcutis Biotherapeutics, Inc. (ARQT) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Following the latest FDA nod for Zoryve foam in seborrheic dermatitis, the company is planning to submit a supplemental new drug application (sNDA) seeking approval for Zoryve foam to treat scalp and body psoriasis. Some other top-ranked stocks in the healthcare sector are Journey Medical Corporation DERM, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | b0d55189-08c9-4aa3-a7d5-9c35123fabaf |
710736.0 | 2023-12-16 00:00:00 UTC | Mirum (MIRM) Down on Failure of Mid-Stage Study on Livmarli | DCOMP | https://www.nasdaq.com/articles/mirum-mirm-down-on-failure-of-mid-stage-study-on-livmarli | nan | nan | Mirum Pharmaceuticals, Inc. MIRM announced disappointing top-line results from the mid-stage EMBARK study.
The phase IIb EMBARK study is a randomized, double-blind, placebo-controlled clinical trial evaluating the safety and efficacy of lead drug Livmarli (maralixibat) oral solution in patients with biliary atresia who have undergone a Kasai surgery.
Patients enrolled in the study were 21 days old or more but less than three months old at the time of the Kasai surgery and had a clinical diagnosis of biliary atresia. These patients underwent a Kasai surgery within three weeks prior to randomization in EMBARK. The primary endpoint was the mean change in total bilirubin through week 26, followed by secondary endpoints, including the mean change in total serum bile acids and the proportion of patients who required liver transplants or had another liver-related event over the 26 weeks.
The study did not meet its primary endpoint of mean change in bilirubin from baseline to week 26 or the key secondary endpoints.
The failure of the study disappointed investors and consequently, shares tanked 15.7%.
On a year-to-date basis, shares have gained 53% compared with the industry’s decline of 18%.
Image Source: Zacks Investment Research
Livmarli, an IBAT inhibitor, is already approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States. (three months and older), in Europe (two months and older) and in Canada.
Mirum is also seeking label expansion of the drug in the United States for the indication of cholestatic pruritus in progressive familial intrahepatic cholestasis (“PFIC”) patients three months of age and older and Europe in PFIC for patients two months of age and older.
A supplemental new drug application for Livmarli in PFIC is under review in the United States, with a target action date of Mar 13, 2024.
Apart from Livmarli, the company also has two other approved drugs in its portfolio, Cholbam (cholic acid) capsules and Chenodal (chenodiol) tablets, which were added after Mirum completed the acquisition of all the assets of Travere Therapeutics’ TVTX bile acid products in August 2023.
Mirum paid an upfront purchase price of $210.4 million in cash to Travere and may pay additional amounts of up to $235.0 million upon the achievement of certain milestones based on specified amounts of net annual sales of the bile acid products.
Cholbam is the first FDA-approved treatment for pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for adjunctive treatment of patients with peroxisome biogenesis disorder-Zellweger spectrum disorder. Chenodal is approved for the treatment of radiolucent stones in the gallbladder and has received medical necessity recognition by the FDA for the treatment of cerebrotendinous xanthomatosis (“CTX”).
In October 2023, Mirum reported positive top-line data from the RESTORE clinical trial evaluating Chenodal in patients with CTX and plans to submit a new drug application for Chenodal to the FDA in the first half of 2024.
Mirum has another candidate in its pipeline, volixibat, an oral IBAT inhibitor, for the treatment of primary sclerosing cholangitis (“PSC”) and primary biliary cholangitis (“PBC”). Two separate phase IIb studies, VISTAS and VANTAGE, are currently being conducted on volixibat in the PSC and PBC indications, respectively. Interim analysis results from both studies are expected in the first half of 2024.
Zacks Rank and Stocks to Consider
Mirum Pharma currently has a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the overall healthcare sector are Entrada Therapeutics TRDA and Dynavax Technologies DVAX. TRDA sports a Zacks Rank #1 (Strong Buy) and DVAX carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Entrada’s loss per share estimate for 2023 has narrowed from $2.07 to 9 cents in the past 60 days. The same for 2024 has narrowed from $2.35 to $2.04 during the same time frame.
Dynavax’s loss per share estimate for 2023 has narrowed from 23 cents to 12 cents in the past 30 days. Earnings estimate for 2024 rose from 3 cents to 18 cents during the same period. Shares of DVAX have risen 28.2% year to date.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
Mirum Pharmaceuticals, Inc. (MIRM) : Free Stock Analysis Report
Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report
Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The phase IIb EMBARK study is a randomized, double-blind, placebo-controlled clinical trial evaluating the safety and efficacy of lead drug Livmarli (maralixibat) oral solution in patients with biliary atresia who have undergone a Kasai surgery. Patients enrolled in the study were 21 days old or more but less than three months old at the time of the Kasai surgery and had a clinical diagnosis of biliary atresia. Image Source: Zacks Investment Research Livmarli, an IBAT inhibitor, is already approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States. | Image Source: Zacks Investment Research Livmarli, an IBAT inhibitor, is already approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States. Mirum has another candidate in its pipeline, volixibat, an oral IBAT inhibitor, for the treatment of primary sclerosing cholangitis (“PSC”) and primary biliary cholangitis (“PBC”). Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Mirum Pharmaceuticals, Inc. (MIRM) : Free Stock Analysis Report Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here. | The phase IIb EMBARK study is a randomized, double-blind, placebo-controlled clinical trial evaluating the safety and efficacy of lead drug Livmarli (maralixibat) oral solution in patients with biliary atresia who have undergone a Kasai surgery. Mirum is also seeking label expansion of the drug in the United States for the indication of cholestatic pruritus in progressive familial intrahepatic cholestasis (“PFIC”) patients three months of age and older and Europe in PFIC for patients two months of age and older. Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Mirum Pharmaceuticals, Inc. (MIRM) : Free Stock Analysis Report Travere Therapeutics, Inc. (TVTX) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Patients enrolled in the study were 21 days old or more but less than three months old at the time of the Kasai surgery and had a clinical diagnosis of biliary atresia. Image Source: Zacks Investment Research Livmarli, an IBAT inhibitor, is already approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | c04f0281-41bb-4405-a3e1-97b7bfdb37eb |
710737.0 | 2023-12-16 00:00:00 UTC | PGT Innovations (PGTI) Gains as It Sells Stake to Masonite | DCOMP | https://www.nasdaq.com/articles/pgt-innovations-pgti-gains-as-it-sells-stake-to-masonite | nan | nan | PGT Innovations, Inc. PGTI is set to be acquired by a designer, manufacturer, marketer and distributor of interior and exterior doors — Masonite International Corporation DOOR — for $3 billion in a combination of cash and Masonite shares.
Per the deal, PGTI’s shareholders will receive $41.00 for each share they own, comprising $33.50 in cash and $7.50 in common shares of Masonite. Also, DOOR’s shareholders will own approximately 84% of the combined company, with PGT Innovations’ shareholders owning nearly 16%.
The transaction is likely to close in mid-2024, subject to approval by PGTI’s shareholders, as well as the receipt of required regulatory approvals and satisfaction of other customary closing conditions.
Expected Transaction Synergies
Post amalgamation, PGT Innovations will provide Masonite with complementary product offerings in adjacent categories, attractive geographies, expanded routes to market and cross-selling opportunities, enhanced engineering and manufacturing capabilities, as well as a significantly stronger growth and financial profile.
On a pro forma basis, for the trailing 12 months ended Oct 1, 2023, the combined company had more than $4 billion in revenues, adjusted EBITDA of approximately $700 million and free cash flow above $400 million.
The transaction is expected to be accretive to Masonite’s earnings in the first full year of ownership and accelerate thereafter with the realization of synergies. Masonite intends to utilize the strength of the combined company’s cash flows and enhanced margin profile to reduce its leverage to less than 3x in nearly two years post completion.
Moreover, Masonite expects to realize approximately $100 million annually for the next several years. These synergies represent a combination of cost-savings opportunities, which include efficiencies in corporate overhead and public company costs, raw material and sourcing opportunities and manufacturing network cost optimization, as well as incremental sales growth opportunities like cross-selling complementary product offerings to an expanded customer base.
Share Price Performance
On Dec 18, PGTI shares spiked 9.4%, whereas DOOR stock dived 16%, post the news release.
Image Source: Zacks Investment Research
In the past three months, PGTI has gained 48.5% comparing favorably with the Zacks Construction sector's 18.3% growth and S&P 500 index’s 6.5% rise. DOOR has however lost 8.1% in the said time frame.
PGT Innovation currently carries a Zacks Rank #3 (Hold). This Building Products - Miscellaneous industry stock has seen an upward estimate revision of 1.4% and 1.7% for 2023 and 2024 earnings over the past 60 days to $2.16 per share and $2.44 per share, respectively. Its earnings topped the consensus estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 8.4%. It carries an impressive VGM Score of A.
Masonite, a Building Products - Wood company, has a Zacks Rank #3 currently. DOOR has seen a downward estimate revision for 2023 earnings to $7.50 per share from $7.73 over the past 30 days. The same for 2024 has moved down to $9.18 per share from $9.70 in the past seven days.
DOOR’s earnings surpassed estimates in two of the trailing four quarters and missed on two occasions, leading to an average surprise of 4.2%. It carries an impressive VGM Score of A.
Stocks to Consider
Two better-ranked stocks sharing space with PGTI are Frontdoor, Inc. FTDR and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Frontdoor: Based in Memphis, TN, the company provides home service plans in the United States. The firm is benefiting from impressive customer retention rates. Thanks to the robust awareness of the Frontdoor brand, it has been shifting its attention toward capitalizing on customer demand. This strategic move allows FTDR to redirect its marketing investments toward expanding its Direct-to-Consumer channel under the American Home Shield brand.
The company is committed to establishing a solid foundation by investing in its brand, technology infrastructure and enhancing productivity throughout the organization.
Frontdoor has seen an upward estimate revision of 23% and 23.8% for 2023 and 2024 earnings over the past 60 days to $2.03 and $2.34 per share, respectively. The estimated figure indicates 59.8% and 15.1% year-over-year growth for 2023 and 2024, respectively. The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 163.7%.
James Hardie Industries: The firm pioneered the development of fiber cement technology in the 1980s. JHX has many product applications, including external siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes.
JHX has seen an upward estimate revision of 0.6% and 1.2% for fiscal 2024 and 2025 earnings over the past seven days to $1.58 per share and $1.66 per share, respectively. The estimated figure indicates 16.2% and 5.1% year-over-year growth for fiscal 2024 and 2025, respectively.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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James Hardie Industries PLC. (JHX) : Free Stock Analysis Report
PGT, Inc. (PGTI) : Free Stock Analysis Report
Masonite International Corporation (DOOR) : Free Stock Analysis Report
Frontdoor Inc. (FTDR) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Expected Transaction Synergies Post amalgamation, PGT Innovations will provide Masonite with complementary product offerings in adjacent categories, attractive geographies, expanded routes to market and cross-selling opportunities, enhanced engineering and manufacturing capabilities, as well as a significantly stronger growth and financial profile. Masonite intends to utilize the strength of the combined company’s cash flows and enhanced margin profile to reduce its leverage to less than 3x in nearly two years post completion. JHX has many product applications, including external siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes. | Expected Transaction Synergies Post amalgamation, PGT Innovations will provide Masonite with complementary product offerings in adjacent categories, attractive geographies, expanded routes to market and cross-selling opportunities, enhanced engineering and manufacturing capabilities, as well as a significantly stronger growth and financial profile. Stocks to Consider Two better-ranked stocks sharing space with PGTI are Frontdoor, Inc. FTDR and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy). (JHX) : Free Stock Analysis Report PGT, Inc. (PGTI) : Free Stock Analysis Report Masonite International Corporation (DOOR) : Free Stock Analysis Report Frontdoor Inc. (FTDR) : Free Stock Analysis Report To read this article on Zacks.com click here. | This Building Products - Miscellaneous industry stock has seen an upward estimate revision of 1.4% and 1.7% for 2023 and 2024 earnings over the past 60 days to $2.16 per share and $2.44 per share, respectively. Stocks to Consider Two better-ranked stocks sharing space with PGTI are Frontdoor, Inc. FTDR and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy). (JHX) : Free Stock Analysis Report PGT, Inc. (PGTI) : Free Stock Analysis Report Masonite International Corporation (DOOR) : Free Stock Analysis Report Frontdoor Inc. (FTDR) : Free Stock Analysis Report To read this article on Zacks.com click here. | DOOR has seen a downward estimate revision for 2023 earnings to $7.50 per share from $7.73 over the past 30 days. Stocks to Consider Two better-ranked stocks sharing space with PGTI are Frontdoor, Inc. FTDR and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 4b70739c-1830-45e4-9a21-2bf063db76d0 |
710738.0 | 2023-12-16 00:00:00 UTC | NI or PEG: Which Is the Better Value Stock Right Now? | DCOMP | https://www.nasdaq.com/articles/ni-or-peg%3A-which-is-the-better-value-stock-right-now | nan | nan | Investors looking for stocks in the Utility - Electric Power sector might want to consider either NiSource (NI) or PSEG (PEG). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Right now, NiSource is sporting a Zacks Rank of #2 (Buy), while PSEG has a Zacks Rank of #3 (Hold). This means that NI's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
NI currently has a forward P/E ratio of 16.53, while PEG has a forward P/E of 17.83. We also note that NI has a PEG ratio of 2.31. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. PEG currently has a PEG ratio of 3.61.
Another notable valuation metric for NI is its P/B ratio of 1.65. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, PEG has a P/B of 2.03.
These are just a few of the metrics contributing to NI's Value grade of B and PEG's Value grade of C.
NI stands above PEG thanks to its solid earnings outlook, and based on these valuation figures, we also feel that NI is the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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NiSource, Inc (NI) : Free Stock Analysis Report
Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. This means that NI's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels. | The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report NiSource, Inc (NI) : Free Stock Analysis Report Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report To read this article on Zacks.com click here. | Investors looking for stocks in the Utility - Electric Power sector might want to consider either NiSource (NI) or PSEG (PEG). These are just a few of the metrics contributing to NI's Value grade of B and PEG's Value grade of C. NI stands above PEG thanks to its solid earnings outlook, and based on these valuation figures, we also feel that NI is the superior value option right now. Click to get this free report NiSource, Inc (NI) : Free Stock Analysis Report Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report To read this article on Zacks.com click here. | PEG currently has a PEG ratio of 3.61. These are just a few of the metrics contributing to NI's Value grade of B and PEG's Value grade of C. NI stands above PEG thanks to its solid earnings outlook, and based on these valuation figures, we also feel that NI is the superior value option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 3b111a1f-40b1-4650-aa57-88d3aa1d9b85 |
710739.0 | 2023-12-16 00:00:00 UTC | PSN or MRVL: Which Is the Better Value Stock Right Now? | DCOMP | https://www.nasdaq.com/articles/psn-or-mrvl%3A-which-is-the-better-value-stock-right-now | nan | nan | Investors interested in stocks from the Technology Services sector have probably already heard of Parsons (PSN) and Marvell Technology (MRVL). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Right now, Parsons is sporting a Zacks Rank of #2 (Buy), while Marvell Technology has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that PSN likely has seen a stronger improvement to its earnings outlook than MRVL has recently. But this is just one piece of the puzzle for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
PSN currently has a forward P/E ratio of 26.17, while MRVL has a forward P/E of 39.53. We also note that PSN has a PEG ratio of 1.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MRVL currently has a PEG ratio of 5.17.
Another notable valuation metric for PSN is its P/B ratio of 2.90. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, MRVL has a P/B of 3.39.
These are just a few of the metrics contributing to PSN's Value grade of B and MRVL's Value grade of D.
PSN is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that PSN is likely the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Parsons Corporation (PSN) : Free Stock Analysis Report
Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels. | Right now, Parsons is sporting a Zacks Rank of #2 (Buy), while Marvell Technology has a Zacks Rank of #3 (Hold). Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. Click to get this free report Parsons Corporation (PSN) : Free Stock Analysis Report Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. These are just a few of the metrics contributing to PSN's Value grade of B and MRVL's Value grade of D. PSN is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. Click to get this free report Parsons Corporation (PSN) : Free Stock Analysis Report Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Right now, Parsons is sporting a Zacks Rank of #2 (Buy), while Marvell Technology has a Zacks Rank of #3 (Hold). Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 6f35ebf9-94b7-4005-a98a-1854cc1d1f0a |
710740.0 | 2023-12-16 00:00:00 UTC | CBT or AIQUY: Which Is the Better Value Stock Right Now? | DCOMP | https://www.nasdaq.com/articles/cbt-or-aiquy%3A-which-is-the-better-value-stock-right-now | nan | nan | Investors looking for stocks in the Chemical - Diversified sector might want to consider either Cabot (CBT) or Air Liquide (AIQUY). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Right now, both Cabot and Air Liquide are sporting a Zacks Rank of # 2 (Buy). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. But this is just one piece of the puzzle for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
CBT currently has a forward P/E ratio of 12.54, while AIQUY has a forward P/E of 28.16. We also note that CBT has a PEG ratio of 2.55. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. AIQUY currently has a PEG ratio of 3.17.
Another notable valuation metric for CBT is its P/B ratio of 3.28. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, AIQUY has a P/B of 3.83.
These are just a few of the metrics contributing to CBT's Value grade of A and AIQUY's Value grade of C.
Both CBT and AIQUY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that CBT is the superior value option right now.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cabot Corporation (CBT) : Free Stock Analysis Report
Air Liquide (AIQUY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. These are just a few of the metrics contributing to CBT's Value grade of A and AIQUY's Value grade of C. Both CBT and AIQUY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that CBT is the superior value option right now. Click to get this free report Cabot Corporation (CBT) : Free Stock Analysis Report Air Liquide (AIQUY) : Free Stock Analysis Report To read this article on Zacks.com click here. | Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. These are just a few of the metrics contributing to CBT's Value grade of A and AIQUY's Value grade of C. Both CBT and AIQUY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that CBT is the superior value option right now. Click to get this free report Cabot Corporation (CBT) : Free Stock Analysis Report Air Liquide (AIQUY) : Free Stock Analysis Report To read this article on Zacks.com click here. | AIQUY currently has a PEG ratio of 3.17. These are just a few of the metrics contributing to CBT's Value grade of A and AIQUY's Value grade of C. Both CBT and AIQUY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that CBT is the superior value option right now. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 4c4f8d4e-cd77-40f8-a93c-4e31662871fc |
710741.0 | 2023-12-16 00:00:00 UTC | Go Ahead, Invest in AI. But Buy This Stock as an Insurance Policy | DCOMP | https://www.nasdaq.com/articles/go-ahead-invest-in-ai.-but-buy-this-stock-as-an-insurance-policy | nan | nan | Stocks in companies that are part and parcel of the artificial intelligence (AI) revolution attract intense investor attention, as they should.
They include both the generationally successful blue chip technology companies like Alphabet and upstarts like C3.ai that may or may not prove to be on the same long-term trajectory.
Certainly, do not ignore the investment treasure that potentially lies among the growing pantheon of AI players. These are companies at the forefront of innovations that can profitably disrupt existing industries while creating new markets, and that could well be the case for years to come.
In the meantime, don't get so caught up as to neglect the enduring value of diversification as an insurance policy against the vagaries of a high-flying market sector. (Remember the dot-com implosion a mere 20 years ago?)
Agree among proven dividend stocks
Keeping some cash in proven dividend stocks is a great way to diversify and buttress your portfolio. These companies tend to be in mature industries with established business models, and predictable cash flows both to their own coffers and to yours.
The effect is cumulative and enduring. According to a new study by Hartford Funds, reinvested dividends -- through the magic of compounding -- have accounted for 69% of the total return of the S&P 500 index since 1960.
While it hasn't been around that long, a good stock to consider for this part of your investing strategy is Agree Realty (NYSE: ADC), a real estate investment trust (REIT) that, since going public in 1994, has produced an average annual total return of 11.3%. In the past 10 years, Agree has posted an annualized dividend growth of 5.9%, powering its total return past that of the big index over that time, as the chart below shows.
ADC Total Return Level data by YCharts.
What's right about this REIT
As a REIT, Agree Realty is obligated by tax law to return at least 90% of its taxable income each year to shareholders in the form of dividends. This suburban Detroit firm does so comfortably with a growing portfolio that currently comprises about 2,100 properties in 49 states.
One of the industry's leading retail REITs, Agree has diversity within its own holdings, with nearly 70% of its rent coming from investment-grade tenants led by Walmart at 6.2% of the rent roll but no other retailer accounting for more than 5%. By industry, grocery and home improvement stores account for 9.7% and 8.6% of the rent roll, respectively, Agree said in its third-quarter earnings report.
Agree pays out monthly, making it perhaps a bit more agreeable to passive-income investors, and it currently is yielding about 4.9% at a share price of about $61. Analysts give it a consensus target price of $67.69, an upside of about 10% that adds to its attractiveness and stability.
Image source: Getty Images.
No guarantees, but some insurance
Dividend stocks like Agree Realty and more volatile issues from AI start-ups both have their place in a balanced portfolio. That mix is highly individual, depending on such factors as your desire for investment income, timeline to retirement, and tolerance risk.
While it's probably more assurance than insurance, investing in a proven performer like Agree Realty can help provide some confidence around your portfolio's overall performance while you probe the market for big scores in the explosive, emerging sector of AI investing.
Should you invest $1,000 in Agree Realty right now?
Before you buy stock in Agree Realty, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Agree Realty wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.
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*Stock Advisor returns as of December 18, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Marc Rapport has positions in Agree Realty and Alphabet. The Motley Fool has positions in and recommends Alphabet and Walmart. The Motley Fool recommends C3.ai. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks in companies that are part and parcel of the artificial intelligence (AI) revolution attract intense investor attention, as they should. They include both the generationally successful blue chip technology companies like Alphabet and upstarts like C3.ai that may or may not prove to be on the same long-term trajectory. No guarantees, but some insurance Dividend stocks like Agree Realty and more volatile issues from AI start-ups both have their place in a balanced portfolio. | Agree among proven dividend stocks Keeping some cash in proven dividend stocks is a great way to diversify and buttress your portfolio. No guarantees, but some insurance Dividend stocks like Agree Realty and more volatile issues from AI start-ups both have their place in a balanced portfolio. Before you buy stock in Agree Realty, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Agree Realty wasn't one of them. | Agree among proven dividend stocks Keeping some cash in proven dividend stocks is a great way to diversify and buttress your portfolio. While it hasn't been around that long, a good stock to consider for this part of your investing strategy is Agree Realty (NYSE: ADC), a real estate investment trust (REIT) that, since going public in 1994, has produced an average annual total return of 11.3%. Before you buy stock in Agree Realty, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Agree Realty wasn't one of them. | While it hasn't been around that long, a good stock to consider for this part of your investing strategy is Agree Realty (NYSE: ADC), a real estate investment trust (REIT) that, since going public in 1994, has produced an average annual total return of 11.3%. Should you invest $1,000 in Agree Realty right now? Before you buy stock in Agree Realty, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Agree Realty wasn't one of them. | c4cb558f-bb36-42b5-a2dc-f254b1cfe268 |
710742.0 | 2023-12-16 00:00:00 UTC | Why Pfizer Stock Is Bouncing Back | DCOMP | https://www.nasdaq.com/articles/why-pfizer-stock-is-bouncing-back | nan | nan | For the third day in a row, shares of big pharma bellwether Pfizer (NYSE: PFE) are heading higher -- which is kind of curious. Just last week, Pfizer issued downbeat guidance for the year ahead. But today, analysts at Citigroup put out a note suggesting that Pfizer is lowballing the market and setting itself up to beat earnings in 2024.
Pfizer stock is up 3.1% through 10:50 a.m. ET in response.
What Pfizer said
On Wednesday last week, Pfizer guided investors on what to expect from it in 2024. With demand for COVID-19-related vaccines and treatment continuing to dwindle, Pfizer predicted sales of Comirnaty (the Pfizer coronavirus vaccine) and Paxlovid (the Pfizer treatment for coronavirus) will total only about $8 billion next year. The company's acquisition of Seagen will add about $3.1 billion worth of oncology sales. But even so, total sales for the year will range from only $58.5 billion to $61.5 billion -- so $60 billion at the midpoint, which works out to about 4% year-over-year growth.
Non-GAAP (adjusted) earnings will range from $2.05 to $2.25 per share. And this is even after cutting $4 billion in annual costs. (Pfizer explained that the cost of acquiring Seagen will subtract about $0.40 per share from the year's profit.)
What Citigroup says about Pfizer
As reported on The Fly today, Citi is putting Pfizer stock on a "90-day catalyst watch," anticipating that sometime in the next three months (i.e., by the time Pfizer comes out with new guidance in its first-quarter earnings report), the pharmaceuticals giant will report news sufficient to raise its guidance -- and its stock price, too.
Citi, you see, thinks Pfizer will earn at least 11% more than the top of the company's published guidance range -- so at least $2.50 per share. Curiously though, that still isn't enough to convince the banker that Pfizer stock is a buy. The analyst only rates Pfizer stock as neutral.
Is that the right call, though? I mean, if Pfizer earns $2.50 per share, and its shares cost less than $28 today, then that works out to a P/E ratio of only 11.2 on the stock. Pfizer's excellent dividend yield of 6.2% is enough to cover half that valuation all on its own. Seems to me, if Pfizer is growing even just 4% or 5% per year -- which it is promising to do next year -- then that more than justifies the valuation on this premier pharmaceuticals play.
Call me an optimist if you will, but after seeing its stock drop by nearly half over the past year, I kind of think Pfizer stock looks like a buy right now.
Should you invest $1,000 in Pfizer right now?
Before you buy stock in Pfizer, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Pfizer wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.
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*Stock Advisor returns as of December 18, 2023
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the third day in a row, shares of big pharma bellwether Pfizer (NYSE: PFE) are heading higher -- which is kind of curious. But today, analysts at Citigroup put out a note suggesting that Pfizer is lowballing the market and setting itself up to beat earnings in 2024. Citi, you see, thinks Pfizer will earn at least 11% more than the top of the company's published guidance range -- so at least $2.50 per share. | With demand for COVID-19-related vaccines and treatment continuing to dwindle, Pfizer predicted sales of Comirnaty (the Pfizer coronavirus vaccine) and Paxlovid (the Pfizer treatment for coronavirus) will total only about $8 billion next year. What Citigroup says about Pfizer As reported on The Fly today, Citi is putting Pfizer stock on a "90-day catalyst watch," anticipating that sometime in the next three months (i.e., by the time Pfizer comes out with new guidance in its first-quarter earnings report), the pharmaceuticals giant will report news sufficient to raise its guidance -- and its stock price, too. Before you buy stock in Pfizer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Pfizer wasn't one of them. | With demand for COVID-19-related vaccines and treatment continuing to dwindle, Pfizer predicted sales of Comirnaty (the Pfizer coronavirus vaccine) and Paxlovid (the Pfizer treatment for coronavirus) will total only about $8 billion next year. What Citigroup says about Pfizer As reported on The Fly today, Citi is putting Pfizer stock on a "90-day catalyst watch," anticipating that sometime in the next three months (i.e., by the time Pfizer comes out with new guidance in its first-quarter earnings report), the pharmaceuticals giant will report news sufficient to raise its guidance -- and its stock price, too. Before you buy stock in Pfizer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Pfizer wasn't one of them. | Pfizer stock is up 3.1% through 10:50 a.m. I mean, if Pfizer earns $2.50 per share, and its shares cost less than $28 today, then that works out to a P/E ratio of only 11.2 on the stock. Before you buy stock in Pfizer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Pfizer wasn't one of them. | 74002890-9d18-49e1-b2cd-f8970aef4969 |
710743.0 | 2023-12-16 00:00:00 UTC | WHO says JN.1 COVID strain a 'variant of interest', poses low risk | DCOMP | https://www.nasdaq.com/articles/who-says-jn.1-covid-strain-a-variant-of-interest-poses-low-risk | nan | nan | By Sriparna Roy
Dec 19 (Reuters) - The World Health Organization (WHO) on Tuesday classified the JN.1 coronavirus strain as a "variant of interest" and said current evidence shows risk to public health was low from the strain.
At least two experts told Reuters that while the strain can evade the immune system and transmit more easily than other currently circulating variants, it has not shown any signs of more severe disease.
While there might be more cases with the variant, JN.1 doesn't pose a greater risk, said Andrew Pekosz, a virologist at the Johns Hopkins Bloomberg School of Public Health.
JN.1 was previously classified a variant of interest as part of its parent lineage BA.2.86, but WHO has now classified it as a separate variant of interest.
WHO said current vaccines will continue to protect against severe disease and death from JN.1 and other circulating variants of the COVID-19 virus.
The U.S. Centers for Disease Control and Prevention (CDC) said earlier this month the subvariant JN.1 makes up about an estimated 15% to 29% of cases in the United States as of Dec. 8, according to the agency's latest projections.
The CDC had said currently there was no evidence that JN.1 presents an increased risk to public health relative to other currently circulating variants and an updated shot could keep Americans protected against the variant.
JN.1 was first detected in the United States in September, according to the CDC.
Last week, China detected seven infections of the COVID subvariant.
(Reporting by Mrinmay Dey and Sriparna Roy in Bengaluru; Editing by Lisa Shumaker, Krishna Chandra Eluri, Shailesh Kuber and Shounak Dasgupta)
((Mrinmay.Dey@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At least two experts told Reuters that while the strain can evade the immune system and transmit more easily than other currently circulating variants, it has not shown any signs of more severe disease. While there might be more cases with the variant, JN.1 doesn't pose a greater risk, said Andrew Pekosz, a virologist at the Johns Hopkins Bloomberg School of Public Health. The U.S. Centers for Disease Control and Prevention (CDC) said earlier this month the subvariant JN.1 makes up about an estimated 15% to 29% of cases in the United States as of Dec. 8, according to the agency's latest projections. | By Sriparna Roy Dec 19 (Reuters) - The World Health Organization (WHO) on Tuesday classified the JN.1 coronavirus strain as a "variant of interest" and said current evidence shows risk to public health was low from the strain. At least two experts told Reuters that while the strain can evade the immune system and transmit more easily than other currently circulating variants, it has not shown any signs of more severe disease. The CDC had said currently there was no evidence that JN.1 presents an increased risk to public health relative to other currently circulating variants and an updated shot could keep Americans protected against the variant. | By Sriparna Roy Dec 19 (Reuters) - The World Health Organization (WHO) on Tuesday classified the JN.1 coronavirus strain as a "variant of interest" and said current evidence shows risk to public health was low from the strain. JN.1 was previously classified a variant of interest as part of its parent lineage BA.2.86, but WHO has now classified it as a separate variant of interest. The CDC had said currently there was no evidence that JN.1 presents an increased risk to public health relative to other currently circulating variants and an updated shot could keep Americans protected against the variant. | By Sriparna Roy Dec 19 (Reuters) - The World Health Organization (WHO) on Tuesday classified the JN.1 coronavirus strain as a "variant of interest" and said current evidence shows risk to public health was low from the strain. The CDC had said currently there was no evidence that JN.1 presents an increased risk to public health relative to other currently circulating variants and an updated shot could keep Americans protected against the variant. JN.1 was first detected in the United States in September, according to the CDC. | 84c003b6-917e-455b-82ef-fdb9ea59c76c |
710744.0 | 2023-12-16 00:00:00 UTC | Marsh & McLennan's (MMC) Unit Divests Atlas to Stoch Analytics | DCOMP | https://www.nasdaq.com/articles/marsh-mclennans-mmc-unit-divests-atlas-to-stoch-analytics | nan | nan | Marsh & McLennan Companies, Inc.’s MMC business, Oliver Wyman, recently announced the acquisition of its Atlas Software business by Stoch Analytics. Stoch Analytics Limited is a newly formed private firm and was earlier a business of Oliver Wyman.
Oliver Wyman Actuarial Consulting and Oliver Wyman will continue their partnership with Stoch Analytics in the future, further benefiting from its expertise. Atlas is a modeling platform based on the cloud used by companies in the Life insurance space for carrying out valuation, pricing, and asset liability management. Regulatory changes for Life and Retirement insurers will further foster the growth of analytical solutions.
This move bodes well for MMC’s Oliver Wyman, as it will be able to serve clients better with the help of Stoch Analytics. Stoch Analytics will be able to focus more on the development and delivery of risk management and actuarial solutions. Lately, the demand for performing complex modeling has increased for life insurers. Hence, to be able to serve this gap in the market bodes well for MMC. Atlas, being one of the most efficient and fast modeling platforms, should help insurers in decreasing their cloud expenditure and augmenting their actuarial and financial resources.
Stoch Analytics’ solutions will now include the Atlas software solutions and iReplicate policyholder compression tool, helping shorten the model runtime by 90% or more. Oliver Wyman is a faster-growing business for MMC. It expects business to register growth in mid-to-high-single digits over the long term. We expect Oliver Wyman’s revenues to grow at a three-year CAGR of 7.9% by 2025.
Price Performance
Shares of Marsh & McLennan have soared 15.9% in the past year compared with the industry’s 11.3% rise.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Marsh & McLennan currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Finance space are Assurant, Inc. AIZ, Brown & Brown, Inc. BRO and Arthur J. Gallagher & Co. AJG. While Assurant currently sports a Zacks Rank #1 (Strong Buy), Brown & Brown and Arthur J. Gallagher carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Assurant’s current-year earnings indicates a 30.8% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 42.4%. Also, the consensus mark for AIZ’s 2023 revenues suggests 5.4% year-over-year growth.
The Zacks Consensus Estimate for Brown & Brown’s current-year earnings is pegged at $2.76 per share, which indicates 21.1% year-over-year growth. BRO beat earnings estimates in each of the past four quarters, with an average surprise of 12.3%. Also, the consensus mark for BRO’s 2023 revenues suggests 17.9% year-over-year growth.
The consensus mark for Arthur J. Gallagher’s current-year earnings indicates a 13.4% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 2.2%. Furthermore, the consensus estimate for AJG’s 2023 revenues suggests 18.2% year-over-year growth.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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Assurant, Inc. (AIZ) : Free Stock Analysis Report
Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report
Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report
Brown & Brown, Inc. (BRO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Atlas is a modeling platform based on the cloud used by companies in the Life insurance space for carrying out valuation, pricing, and asset liability management. Atlas, being one of the most efficient and fast modeling platforms, should help insurers in decreasing their cloud expenditure and augmenting their actuarial and financial resources. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | Some better-ranked stocks in the broader Finance space are Assurant, Inc. AIZ, Brown & Brown, Inc. BRO and Arthur J. Gallagher & Co. AJG. While Assurant currently sports a Zacks Rank #1 (Strong Buy), Brown & Brown and Arthur J. Gallagher carry a Zacks Rank #2 (Buy) each. Click to get this free report Assurant, Inc. (AIZ) : Free Stock Analysis Report Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report Brown & Brown, Inc. (BRO) : Free Stock Analysis Report To read this article on Zacks.com click here. | Marsh & McLennan Companies, Inc.’s MMC business, Oliver Wyman, recently announced the acquisition of its Atlas Software business by Stoch Analytics. The Zacks Consensus Estimate for Brown & Brown’s current-year earnings is pegged at $2.76 per share, which indicates 21.1% year-over-year growth. Click to get this free report Assurant, Inc. (AIZ) : Free Stock Analysis Report Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report Brown & Brown, Inc. (BRO) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Consensus Estimate for Assurant’s current-year earnings indicates a 30.8% year-over-year increase. The Zacks Consensus Estimate for Brown & Brown’s current-year earnings is pegged at $2.76 per share, which indicates 21.1% year-over-year growth. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | f13aba0a-4039-415e-9875-8e670bf1c6ce |
710745.0 | 2023-12-16 00:00:00 UTC | Masimo's (MASI) Stork Baby Monitoring System Approved by FDA | DCOMP | https://www.nasdaq.com/articles/masimos-masi-stork-baby-monitoring-system-approved-by-fda | nan | nan | Masimo Corporation MASI recently announced the receipt of the FDA’s clearance for Stork for prescription use with healthy and sick infants aged 0-18 months of age. Stork, Masimo’s innovative baby monitoring system, leverages its advanced sensor technology already in use for monitoring in hospitals.
It is worth noting that Stork is currently available at retailers nationwide as a non-medical device for general health and wellness purposes. However, with this clearance, Stork will now be available for prescription use to continuously monitor babies at home as a medical device for healthy or sick babies.
For non-medical use, Masimo Stork bundles are available for direct consumer purchase at MasimoStork.com and on shelves at major and specialty U.S. retailers.
The latest regulatory clearance of Masimo’s home baby monitoring system is expected to significantly strengthen its remote baby monitoring business across the nation.
Significance of FDA Approval
Stork leverages the same technology that has been used on babies in the neonatal intensive care unit over the years. This is expected to help improve health outcomes for the youngest and most vulnerable patients.
Per Masimo, Stork, when prescribed, will now enable parents and family members to receive alarms regarding their baby’s oxygen saturation, pulse rate and skin temperature. They will also be likely to share these vital signs data remotely with clinicians. Stork is also expected to alert parents if their baby turns over and is sleeping face down, which can be dangerous for babies.
Per management, infant monitoring can be expensive and inconvenient due to the use of traditional hospital-grade equipment. Management believes that Stork will likely provide parents with an affordable and easy-to-use solution for monitoring their baby's health, particularly when they are unwell. This is expected to cost significantly less than traditional methods.
Industry Prospects
Per a report by Grand View Research, the global smart baby monitor market was estimated at $1,347.1 million in 2022 and is anticipated to grow at a CAGR of 7.9% between 2023 and 2030. Factors like the growing emphasis on child safety and security, the rise in the number of working families and the increasing adoption of smart home technologies are expected to drive the market.
Given the market potential, the latest FDA clearance for its smart baby monitor is likely to provide a significant boost to Masimo’s business.
Recent Developments
This month, Masimo announced the findings of a retrospective study in which researchers assessed the association between Masimo ORi (Oxygen Reserve Index) and the arterial partial pressure of oxygen in patients who underwent non-cardiac thoracic surgery during one-lung ventilation. The findings were published in the Journal of Anesthesia.
Last month, Masimo announced the receipt of the FDA’s 510(k) clearance for over-the-counter and prescription use of the Masimo W1 medical watch.
The same month, Masimo reported its third-quarter 2023 results. Per management, its healthcare business is transitioning away from COVID-era conditions. Also, management is beginning to see customer behavior and sensor purchasing patterns shifting back to the pre-pandemic growth trend line.
Price Performance
Shares of Masimo have lost 20.9% in the past year against the industry’s 4.1% rise and the S&P 500’s 24.6% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Masimo carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, DexCom, Inc. DXCM and Integer Holdings Corporation ITGR.
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 17.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 50.9% compared with the industry’s 9.7% rise in the past year.
HealthEquity, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 27.5%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 16.5%.
HealthEquity has gained 2.9% against the industry’s 7.5% decline over the past year.
Integer Holdings, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.9%.
Integer Holdings’ shares have rallied 43.9% compared with the industry’s 4.1% rise in the past year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DaVita Inc. (DVA) : Free Stock Analysis Report
Masimo Corporation (MASI) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
Integer Holdings Corporation (ITGR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Per Masimo, Stork, when prescribed, will now enable parents and family members to receive alarms regarding their baby’s oxygen saturation, pulse rate and skin temperature. Industry Prospects Per a report by Grand View Research, the global smart baby monitor market was estimated at $1,347.1 million in 2022 and is anticipated to grow at a CAGR of 7.9% between 2023 and 2030. Factors like the growing emphasis on child safety and security, the rise in the number of working families and the increasing adoption of smart home technologies are expected to drive the market. | Masimo Corporation MASI recently announced the receipt of the FDA’s clearance for Stork for prescription use with healthy and sick infants aged 0-18 months of age. The latest regulatory clearance of Masimo’s home baby monitoring system is expected to significantly strengthen its remote baby monitoring business across the nation. Click to get this free report DaVita Inc. (DVA) : Free Stock Analysis Report Masimo Corporation (MASI) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report To read this article on Zacks.com click here. | The latest regulatory clearance of Masimo’s home baby monitoring system is expected to significantly strengthen its remote baby monitoring business across the nation. Image Source: Zacks Investment Research Zacks Rank & Stocks to Consider Currently, Masimo carries a Zacks Rank #4 (Sell). Click to get this free report DaVita Inc. (DVA) : Free Stock Analysis Report Masimo Corporation (MASI) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report To read this article on Zacks.com click here. | The latest regulatory clearance of Masimo’s home baby monitoring system is expected to significantly strengthen its remote baby monitoring business across the nation. Given the market potential, the latest FDA clearance for its smart baby monitor is likely to provide a significant boost to Masimo’s business. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 8ba871f4-7258-46ab-8082-a43bdee2c37e |
710746.0 | 2023-12-16 00:00:00 UTC | Brazil policy council approves raising biodiesel mix | DCOMP | https://www.nasdaq.com/articles/brazil-policy-council-approves-raising-biodiesel-mix | nan | nan | Adds details
BRASILIA, Dec 19 (Reuters) - Brazil's energy policy council CNPE on Tuesday set the mandatory biodiesel blend into diesel in the country at 14% starting March 2024 and 15% starting 2025, Mines and Energy Minister Alexandre Silveira said, raising it from the current 12%.
The measure bolsters the prospects of the Brazilian oilseed crushing industry, which has grappled with idle capacity averaging 50% in recent years, as about 70% of Brazilian biodiesel is produced from processed soybeans.
According to a CNPE resolution passed last March, Brazil would origininally have to blend 13% biodiesel in diesel from April 2024, with the mandatory mix expected to rise to 14% only a year later and 15% in 2026.
A 1% addition in the biodiesel mix corresponds to about 1 billion liters more of consumption, an industry representative said. Actual biodiesel consumption, however, is also a function of diesel’s domestic demand.
In 2023, Brazil's oilseed crusher lobby Abiove, which represents firms like ADM ADM.N, Bunge BG.N, Cargill CARG.UL and Cofco CNCOF.UL, predicts roughly 7 billion liters of biodiesel production in the country.
(Reporting by Lisandra Paraguassu; Writing by Ana Mano and Gabriel Araujo; Editing by Steven Grattan)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details BRASILIA, Dec 19 (Reuters) - Brazil's energy policy council CNPE on Tuesday set the mandatory biodiesel blend into diesel in the country at 14% starting March 2024 and 15% starting 2025, Mines and Energy Minister Alexandre Silveira said, raising it from the current 12%. According to a CNPE resolution passed last March, Brazil would origininally have to blend 13% biodiesel in diesel from April 2024, with the mandatory mix expected to rise to 14% only a year later and 15% in 2026. In 2023, Brazil's oilseed crusher lobby Abiove, which represents firms like ADM ADM.N, Bunge BG.N, Cargill CARG.UL and Cofco CNCOF.UL, predicts roughly 7 billion liters of biodiesel production in the country. | Adds details BRASILIA, Dec 19 (Reuters) - Brazil's energy policy council CNPE on Tuesday set the mandatory biodiesel blend into diesel in the country at 14% starting March 2024 and 15% starting 2025, Mines and Energy Minister Alexandre Silveira said, raising it from the current 12%. The measure bolsters the prospects of the Brazilian oilseed crushing industry, which has grappled with idle capacity averaging 50% in recent years, as about 70% of Brazilian biodiesel is produced from processed soybeans. A 1% addition in the biodiesel mix corresponds to about 1 billion liters more of consumption, an industry representative said. | Adds details BRASILIA, Dec 19 (Reuters) - Brazil's energy policy council CNPE on Tuesday set the mandatory biodiesel blend into diesel in the country at 14% starting March 2024 and 15% starting 2025, Mines and Energy Minister Alexandre Silveira said, raising it from the current 12%. According to a CNPE resolution passed last March, Brazil would origininally have to blend 13% biodiesel in diesel from April 2024, with the mandatory mix expected to rise to 14% only a year later and 15% in 2026. In 2023, Brazil's oilseed crusher lobby Abiove, which represents firms like ADM ADM.N, Bunge BG.N, Cargill CARG.UL and Cofco CNCOF.UL, predicts roughly 7 billion liters of biodiesel production in the country. | Adds details BRASILIA, Dec 19 (Reuters) - Brazil's energy policy council CNPE on Tuesday set the mandatory biodiesel blend into diesel in the country at 14% starting March 2024 and 15% starting 2025, Mines and Energy Minister Alexandre Silveira said, raising it from the current 12%. The measure bolsters the prospects of the Brazilian oilseed crushing industry, which has grappled with idle capacity averaging 50% in recent years, as about 70% of Brazilian biodiesel is produced from processed soybeans. According to a CNPE resolution passed last March, Brazil would origininally have to blend 13% biodiesel in diesel from April 2024, with the mandatory mix expected to rise to 14% only a year later and 15% in 2026. | 14d41300-fa6e-4980-b3f4-fc936dacc8af |
710747.0 | 2023-12-16 00:00:00 UTC | Sony's game plans leaked online by hackers - Bloomberg News | DCOMP | https://www.nasdaq.com/articles/sonys-game-plans-leaked-online-by-hackers-bloomberg-news | nan | nan | Dec 19 (Reuters) - Sony-owned 6758.T Insomniac Games' more than 1.3 million files, including game roadmaps, budgets and information about an upcoming "Wolverine" title, have been leaked online by the Rhysida ransomware group, Bloomberg News reported on Tuesday.
The files show the Japanese company plans to release several Marvel-inspired titles in the next decade, including "Spider-Man 3" and those based on Venom and X-Men, the report said.
Insomniac and Marvel's licensing deal is as high as $621 million to develop and market the X-Men games by 2035, the report added.
Sony did not respond to a Reuters request for comment.
Rhysida announced the hack on Dec. 12, saying it would auction the data for about $2 million in bitcoin but later published the data on Tuesday, according to the report.
The hack is the latest in the gaming industry, after early footage of Take-Two Interactive Software's TTWO.O "Grand Theft Auto VI" was put online last year in what was one of the biggest gaming leaks of all time.
(Reporting by Harshita Mary Varghese; Editing by Krishna Chandra Eluri)
((HarshitaMary.Varghese@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Dec 19 (Reuters) - Sony-owned 6758.T Insomniac Games' more than 1.3 million files, including game roadmaps, budgets and information about an upcoming "Wolverine" title, have been leaked online by the Rhysida ransomware group, Bloomberg News reported on Tuesday. The files show the Japanese company plans to release several Marvel-inspired titles in the next decade, including "Spider-Man 3" and those based on Venom and X-Men, the report said. Insomniac and Marvel's licensing deal is as high as $621 million to develop and market the X-Men games by 2035, the report added. | Dec 19 (Reuters) - Sony-owned 6758.T Insomniac Games' more than 1.3 million files, including game roadmaps, budgets and information about an upcoming "Wolverine" title, have been leaked online by the Rhysida ransomware group, Bloomberg News reported on Tuesday. Insomniac and Marvel's licensing deal is as high as $621 million to develop and market the X-Men games by 2035, the report added. The hack is the latest in the gaming industry, after early footage of Take-Two Interactive Software's TTWO.O "Grand Theft Auto VI" was put online last year in what was one of the biggest gaming leaks of all time. | Dec 19 (Reuters) - Sony-owned 6758.T Insomniac Games' more than 1.3 million files, including game roadmaps, budgets and information about an upcoming "Wolverine" title, have been leaked online by the Rhysida ransomware group, Bloomberg News reported on Tuesday. The hack is the latest in the gaming industry, after early footage of Take-Two Interactive Software's TTWO.O "Grand Theft Auto VI" was put online last year in what was one of the biggest gaming leaks of all time. (Reporting by Harshita Mary Varghese; Editing by Krishna Chandra Eluri) ((HarshitaMary.Varghese@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Dec 19 (Reuters) - Sony-owned 6758.T Insomniac Games' more than 1.3 million files, including game roadmaps, budgets and information about an upcoming "Wolverine" title, have been leaked online by the Rhysida ransomware group, Bloomberg News reported on Tuesday. Insomniac and Marvel's licensing deal is as high as $621 million to develop and market the X-Men games by 2035, the report added. Sony did not respond to a Reuters request for comment. | 844f999b-302e-44c9-aae2-aa9cb0779b62 |
710748.0 | 2023-12-16 00:00:00 UTC | Is Microsoft Stock a Buy Now? | DCOMP | https://www.nasdaq.com/articles/is-microsoft-stock-a-buy-now-9 | nan | nan | What a year for Microsoft (NASDAQ: MSFT). The tech stalwart kicked off 2023 by hitting a 52-week low of $219.35 on January 6. Then Microsoft-backed OpenAI's ChatGPT grabbed headlines as artificial intelligence exploded into prominence.
Since then, Microsoft shares have risen steadily, reaching a 52-week high of $384.30 toward the end of November, illustrating just how far the stock has come from the start of the year. So is it too late to purchase the tech giant's stock?
The share price has pulled back from its recent high, creating a potential buy opportunity. Let's analyze where the company is at currently to determine if now is a good time to buy.
Microsoft's capacity for success
Microsoft is capitalizing on some of the hot technological trends of our time. The company is prospering as it pursues market share in cloud computing and artificial intelligence.
This is illustrated by Microsoft's performance in its fiscal 2024 first quarter, ended September 30. The company's Q1 revenue experienced double-digit year-over-year growth, hitting $56.5 billion. Moreover, net income saw an impressive 27% year-over-year jump to $22.3 billion.
Microsoft's Q1 prosperity isn't just confined to 2023. The tech veteran's revenue has risen steadily over the years, showing it's on a streak of multi-year growth thanks to its success tapping into cloud computing and AI technologies.
Data by YCharts.
That success should continue. The company forecasted double-digit revenue growth in fiscal Q2 across many of its offerings, including its Azure cloud computing business. Azure falls under the company's Intelligent Cloud division, which produced $24.3 billion of fiscal Q1's $56.5 billion in sales.
In fact, Microsoft CFO Amy Hood stated, "with our strong start to FY24, I am confident that as a team, we will continue to deliver healthy growth in the year ahead driven by our leadership in commercial cloud and our commitment to lead the AI platform wave."
Microsoft's many strengths
The Microsoft team has good reason to believe the company's current success will continue. The cloud computing and AI technologies at Microsoft's disposal are impressive.
It has data centers in over 60 regions around the world. This widespread coverage means Microsoft's systems are fast, since customers using the company's cloud computing and AI technologies are likely to have a data center close to them.
This massive data center footprint helped Microsoft secure an exclusive partnership with Oracle, allowing the latter's more than 400,000 customers to access Azure. As for AI, over 18,000 organizations use Microsoft's artificial intelligence technology. This has translated into tangible business results for Microsoft.
For instance, the company's Dynamics 365 product, a Salesforce competitor in the customer relationship management (CRM) space, experienced 10 consecutive quarters of market share gains through fiscal Q1, helped by AI features such as automating sales tasks. Microsoft CEO Satya Nadella described Dynamics 365 as an "AI inflection point to redefine our role in business applications."
Moreover, Microsoft's Xbox gaming division should get a significant sales boost in fiscal 2024. The company's acquisition of gaming giant Activision Blizzard closed on October 13th.
And it doesn't end there. Microsoft's financial strength is impressive. The company exited its fiscal Q1 with total assets approaching a staggering half a trillion dollars. Cash, cash equivalents, and short-term investments alone totaled $144 billion. Total liabilities were a manageable $225.1 billion.
To buy or not to buy Microsoft stock
So much is going right for Microsoft at this time, and the company even provides a modest dividend, currently yielding 0.8%, as the cherry on top for investors. Microsoft increased its dividend by 10% this year, and has raised it annually for more than a decade.
Microsoft is the second-largest cloud computing provider in the world, behind only Amazon. The public cloud computing market, where Microsoft's Azure operates, is forecasted to grow over 78% between 2023 and 2028.
Meanwhile, the AI market is estimated to increase from $142.3 billion in 2022 to $1.8 trillion by 2030. The industry growth in AI and cloud computing provide a tailwind to help Microsoft's revenue continue its multi-year rise. The company's impressive technological capabilities position it well to maintain its prosperity, making Microsoft a worthwhile tech stock to buy now.
Should you invest $1,000 in Microsoft right now?
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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Robert Izquierdo has positions in Amazon, Microsoft, and Salesforce. The Motley Fool has positions in and recommends Amazon, Microsoft, Oracle, and Salesforce. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The tech veteran's revenue has risen steadily over the years, showing it's on a streak of multi-year growth thanks to its success tapping into cloud computing and AI technologies. In fact, Microsoft CFO Amy Hood stated, "with our strong start to FY24, I am confident that as a team, we will continue to deliver healthy growth in the year ahead driven by our leadership in commercial cloud and our commitment to lead the AI platform wave." For instance, the company's Dynamics 365 product, a Salesforce competitor in the customer relationship management (CRM) space, experienced 10 consecutive quarters of market share gains through fiscal Q1, helped by AI features such as automating sales tasks. | The company's Q1 revenue experienced double-digit year-over-year growth, hitting $56.5 billion. Azure falls under the company's Intelligent Cloud division, which produced $24.3 billion of fiscal Q1's $56.5 billion in sales. The industry growth in AI and cloud computing provide a tailwind to help Microsoft's revenue continue its multi-year rise. | Microsoft's many strengths The Microsoft team has good reason to believe the company's current success will continue. To buy or not to buy Microsoft stock So much is going right for Microsoft at this time, and the company even provides a modest dividend, currently yielding 0.8%, as the cherry on top for investors. Before you buy stock in Microsoft, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Microsoft wasn't one of them. | The company is prospering as it pursues market share in cloud computing and artificial intelligence. Azure falls under the company's Intelligent Cloud division, which produced $24.3 billion of fiscal Q1's $56.5 billion in sales. Before you buy stock in Microsoft, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Microsoft wasn't one of them. | a4f53e3f-c828-4d20-bbf4-432efaebc754 |
710749.0 | 2023-12-16 00:00:00 UTC | IBM Boosts Hybrid Cloud & AI Portfolio With Strategic Buyout | DCOMP | https://www.nasdaq.com/articles/ibm-boosts-hybrid-cloud-ai-portfolio-with-strategic-buyout | nan | nan | International Business Machines Corporation IBM recently announced that it has signed a definitive agreement to acquire Software AG’s iPaaS (integration platform-as-a-service) businesses, StreamSets and webMethods. StreamSets and webMethods are industry leaders in data integration, API management and application integration. The buyout is anticipated to be concluded by the second quarter of 2024 through a €2.13 billion cash transaction.
Software AG’s enterprise technology platforms boast a healthy revenue profile and currently possess a client base of around 1,500 worldwide. IBM has a decades-old business relationship with Software AG. Through this buyout, IBM is likely to derive synergy benefits with its current portfolio, which includes watsonx AI, IBM Consulting and other IT automation products.
webMethods specializes in advanced API management and integration tools and operates seamlessly across on-premises and cloud environments. It effectively facilitates B2B integration, manages file transfer and provides API gateway functions. On the other hand, StreamSets is a DataOps and data ingestion platform with a cloud-based architecture. It ensures seamless access to diverse data sources and empowers organizations with smart data pipeline designs and real-time data integration.
By integrating these capabilities, IBM aims to create a comprehensive and advanced application and data integration platform within the industry. This integration will notably enhance watsonx’s data ingestion capabilities and also enrich customers with additional integration and API management features.
The combination of IBM’s product suite with StreamSets and webMethods will drive innovation and accelerate digital transformation by empowering enterprises to extract maximum potential from applications and data. Additionally, the merger with IBM will give StreamSets and webMethods substantial exposure on a global scale, enhancing their brand visibility and commercial prospects.
Research suggests that the global integration software market is expected to grow 16.1% each year and reach a value of around $18 billion by 2027. The recent venture highlights IBM’s strategic alignment with this positive trend, seeking to capitalize on the rising integration software market by strengthening its hybrid cloud and AI product portfolio.
IBM is betting big on the watsonx platform, which is likely to be the core technology platform for its AI capabilities. watsonx delivers the value of foundational models to the enterprise, enabling them to be more productive. This enterprise-ready AI and data platform comprises three products to help organizations accelerate and scale AI: the watsonx.ai studio for new foundation models, generative AI and machine learning, the watsonx.data fit-for-purpose data store, built on an open lake house architecture, and the watsonx.governance toolkit to help enable AI workflows to be built with responsibility and transparency.
The stock has gained 15.2% over the past year compared with the industry’s growth of 11.5%.
Image Source: Zacks Investment Research
IBM currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Model N Inc MODN, carrying a Zacks Rank #2 (Buy) at present, delivered a trailing four-quarter average earnings surprise of 20.78%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MODN provides revenue management solutions for life sciences and technology companies, including applications for configuration, price, quote, rebate management and regulatory compliance. In the last reported quarter, it delivered an earnings surprise of 3.33%.
Arista Networks, Inc. ANET, carrying a Zacks Rank #2 at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build cloud architecture and enhance their cloud experience. Arista delivered a trailing four-quarter average earnings surprise of 12%.
ANET holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. Arista is gaining market traction in 200 and 400-gigabit high-performance switching products and is well-positioned for healthy growth in the data-driven cloud networking business with proactive platforms and predictive operations.
NVIDIA Corporation NVDA, currently carrying a Zacks Rank #2, delivered a trailing four-quarter average earnings surprise of 18.99%. In the last reported quarter, it delivered an earnings surprise of 19.64%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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International Business Machines Corporation (IBM) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Model N, Inc. (MODN) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The combination of IBM’s product suite with StreamSets and webMethods will drive innovation and accelerate digital transformation by empowering enterprises to extract maximum potential from applications and data. The recent venture highlights IBM’s strategic alignment with this positive trend, seeking to capitalize on the rising integration software market by strengthening its hybrid cloud and AI product portfolio. Arista is gaining market traction in 200 and 400-gigabit high-performance switching products and is well-positioned for healthy growth in the data-driven cloud networking business with proactive platforms and predictive operations. | Stocks to Consider Model N Inc MODN, carrying a Zacks Rank #2 (Buy) at present, delivered a trailing four-quarter average earnings surprise of 20.78%. NVIDIA Corporation NVDA, currently carrying a Zacks Rank #2, delivered a trailing four-quarter average earnings surprise of 18.99%. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Model N, Inc. (MODN) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | By integrating these capabilities, IBM aims to create a comprehensive and advanced application and data integration platform within the industry. This enterprise-ready AI and data platform comprises three products to help organizations accelerate and scale AI: the watsonx.ai studio for new foundation models, generative AI and machine learning, the watsonx.data fit-for-purpose data store, built on an open lake house architecture, and the watsonx.governance toolkit to help enable AI workflows to be built with responsibility and transparency. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Model N, Inc. (MODN) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | StreamSets and webMethods are industry leaders in data integration, API management and application integration. This integration will notably enhance watsonx’s data ingestion capabilities and also enrich customers with additional integration and API management features. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | dbf0054e-b84b-4d26-97e7-66a2a78759e7 |
710750.0 | 2023-12-16 00:00:00 UTC | Carter's (CRI) Continues to Focus on Pricing: Stock to Gain | DCOMP | https://www.nasdaq.com/articles/carters-cri-continues-to-focus-on-pricing%3A-stock-to-gain | nan | nan | Carter’s Inc. CRI has been implementing several measures, including improved pricing and optimized inventory management, to counteract the impacts of decreased consumer demand. The company has made significant efforts in pricing to address market conditions and enhance profitability. Additionally, the company’s focus on optimized inventory management bodes well.
In third-quarter 2023, CRI witnessed improved price realization and profit margins primarily due to the strength of its product offerings and lower ocean freight rates, along with better inventory management. This approach not only improved its cash flow but also supported its overall financial performance.
The company has strategically focused on essential core products, especially in the inflationary markets. This focus, coupled with a compelling value proposition, wherein average retail price points are around $11, makes Carter's an attractive option for budget-conscious consumers. The company’s pricing strategy involves keeping its brands competitively priced, usually within $1 or $2 of private label brands, which has proven effective in maintaining competitiveness in the market.
Looking ahead, Carter's anticipates lower product costs, which are expected to enable it to strengthen its product offerings and sharpen price points, thereby improving profitability in the next year. Even with lower traffic in the U.S. Retail segment than the previous year, the company managed to achieve improved pricing and grow average transaction values.
Gains from the company’s pricing efforts and inventory management have been well-reflected in its share price. Shares of this Zacks Rank #3 (Hold) company have gained 8.8% in the past three months, outpacing the S&P 500’s growth of 6.4%. However, the stock has lagged the industry’s rally of 22.7% and the Consumer Discretionary sector’s rise of 9.9% in the same period.
Image Source: Zacks Investment Research
Other Factors Driving Growth
Carter’s has been witnessing a notable expansion in the margin rates, driven in part by lower ocean freight rates, which were the most significant contributor to the gross margin expansion of 228 basis points (bps) in the third quarter. Additionally, lower inventory levels in the same quarter aided the gross margin. This narrates the company’s focus on efficient cost management and operational improvements. The adjusted operating margin increased 100 bps to 12.2% in the quarter mainly on favorable ocean freight rates, lower inventory provisions, and decreased distribution and freight costs.
Carter’s guidance indicates better consumer demand trends in fourth-quarter 2023 than in the third quarter. The company expects improved gross margins and a lower SG&A rate in fourth-quarter 2023, driven by reduced inventory-related costs, improved price realization and lower ocean freight rates.
Hurdles in the Path
Soft consumer spending trends, owing to inflation, rising interest rates, higher consumer debt levels and recession risks, have been hurting CRI’s performance. Management envisions the overall demand trends to improve in the second half of 2023, as it expects inflation to moderate. However, it provided a bleak sales view for the fourth quarter and 2023.
For 2023, Carter’s expects net sales of $2.95-$2.97 billion compared with the earlier mentioned $2.95-$3 billion. Adjusted earnings per share (EPS) are likely to be $5.95-$6.15, whereas it reported $6.90 in 2022. Adjusted operating income is forecast to be $325-$335 million, down from the previously communicated $340 million. For the fourth quarter of 2023, net sales are expected to be $862-$877 million, indicating a decline from the $912 million recorded in the year-ago quarter. Adjusted earnings are likely to be $2.50-$2.72, suggesting a decline from the $2.29 reported in the prior-year quarter.
Stocks to Consider
We have highlighted three better-ranked stocks from the Consumer Staple sector, such as Rocky Brands RCKY, GIII Apparel Group GIII and lululemon athletica LULU.
Rocky Brands, a leading designer, manufacturer and marketer of premium quality footwear and apparel, currently sports a Zacks Rank #1 (Strong Buy). Shares of RCKY have rallied 70% in the past three months. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Rocky Brands’ current financial year’s sales and earnings per share suggests declines of 24.5% and 46.8%, respectively, from the year-ago reported figures. RCKY has a trailing four-quarter earnings surprise of 17.2%, on average.
GIII Apparel, a manufacturer, designer and distributor of apparel and accessories under licensed brands, owned brands and private label brands, has a trailing four-quarter earnings surprise of 541.8%, on average. It currently flaunts a Zacks Rank #1.
The Zacks Consensus Estimate for GIII Apparel’s current financial-year earnings suggests growth of 33% from the prior-year actual. GIII shares have gained 37% in the past three months.
lululemon is a yoga-inspired athletic apparel company that creates lifestyle components. It currently carries a Zacks Rank #2 (Buy). Shares of LULU have risen 28% in the past three months.
The Zacks Consensus Estimate for LULU’s current financial-year sales and earnings suggests growth of 18.2% and 22.9%, respectively, from the year-earlier reported figures. LULU has a trailing four-quarter earnings surprise of 9.2%, on average.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report
Carter's, Inc. (CRI) : Free Stock Analysis Report
Rocky Brands, Inc. (RCKY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In third-quarter 2023, CRI witnessed improved price realization and profit margins primarily due to the strength of its product offerings and lower ocean freight rates, along with better inventory management. Rocky Brands, a leading designer, manufacturer and marketer of premium quality footwear and apparel, currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for Rocky Brands’ current financial year’s sales and earnings per share suggests declines of 24.5% and 46.8%, respectively, from the year-ago reported figures. | The company expects improved gross margins and a lower SG&A rate in fourth-quarter 2023, driven by reduced inventory-related costs, improved price realization and lower ocean freight rates. The Zacks Consensus Estimate for Rocky Brands’ current financial year’s sales and earnings per share suggests declines of 24.5% and 46.8%, respectively, from the year-ago reported figures. Click to get this free report lululemon athletica inc. (LULU) : Free Stock Analysis Report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report Carter's, Inc. (CRI) : Free Stock Analysis Report Rocky Brands, Inc. (RCKY) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Other Factors Driving Growth Carter’s has been witnessing a notable expansion in the margin rates, driven in part by lower ocean freight rates, which were the most significant contributor to the gross margin expansion of 228 basis points (bps) in the third quarter. The company expects improved gross margins and a lower SG&A rate in fourth-quarter 2023, driven by reduced inventory-related costs, improved price realization and lower ocean freight rates. Click to get this free report lululemon athletica inc. (LULU) : Free Stock Analysis Report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report Carter's, Inc. (CRI) : Free Stock Analysis Report Rocky Brands, Inc. (RCKY) : Free Stock Analysis Report To read this article on Zacks.com click here. | Adjusted earnings per share (EPS) are likely to be $5.95-$6.15, whereas it reported $6.90 in 2022. Stocks to Consider We have highlighted three better-ranked stocks from the Consumer Staple sector, such as Rocky Brands RCKY, GIII Apparel Group GIII and lululemon athletica LULU. The Zacks Consensus Estimate for Rocky Brands’ current financial year’s sales and earnings per share suggests declines of 24.5% and 46.8%, respectively, from the year-ago reported figures. | 590008be-174a-4f49-9265-031b10c139c9 |
710751.0 | 2023-12-16 00:00:00 UTC | 3 "Magnificent Seven" Artificial Intelligence (AI) Stocks Will Leapfrog Apple to Join the $3 Trillion Club, According to 1 Wall Street Analyst | DCOMP | https://www.nasdaq.com/articles/3-magnificent-seven-artificial-intelligence-ai-stocks-will-leapfrog-apple-to-join-the-%243 | nan | nan | After turning in a dismal performance last year, the stock market has come roaring back, within striking distance of a new bull market. Helping fuel the market recovery is the viral excitement surrounding artificial intelligence (AI).
The list of this year's best performers is littered with companies best positioned to benefit from these next-generation algorithms. This includes the companies that make up the so-called "Magnificent Seven" stocks (as of market close on Wednesday):
Nvidia: Up 229%
Meta Platforms: Up 178%
Tesla: Up 94%
Amazon (NASDAQ: AMZN): Up 77%
Microsoft (NASDAQ: MSFT): Up 56%
Apple: Up 52%
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL): Up 50%
Of these, Apple deserves special mention as the first publicly traded stock on U.S. markets to reach a market cap of $1 trillion and $2 trillion, respectively, and is currently the only one worth more than $3 trillion dollars. Despite being the first company to surpass each of these benchmarks, one analyst believes there will soon be a changing of the guard, with three of the Magnificent Seven stocks poised to leapfrog Apple's valuation in the coming years.
Image source: Getty Images.
The generative AI catalyst
There's a compelling argument that the spark that lifted the market higher in 2023 is generative AI. These new AI models have the ability to generate original content and automate a broad cross-section of mundane and time-consuming tasks, improving processes and making workers more efficient.
The promise of these productivity gains has businesses scrambling to adopt AI to reap the expected financial rewards. Several companies at the forefront of AI have already staked their claim, making them frontrunners to steal Apple's crown.
Microsoft was arguably among the first to recognize the potential of generative AI. The company took a $13 billion stake in ChatGPT creator OpenAI early last year and quickly integrated productivity tools into Microsoft Office and its other software-as-a-service (SaaS) offerings. Copilot, the company's AI-powered assistant, offers hundreds of time- and work-saving features, including summarizing emails and drafting responses, creating presentations using provided data, writing and troubleshooting computer code, and even generating original content.
Alphabet quickly jumped on the bandwagon, developing its Pathways Language Model (PaLM) LLM, which it says has the ability to "understand, generate, and translate nuanced text -- including idioms, poems, and riddles -- across a wide variety of languages," which forms the foundation for its Bard conversational AI.
Alphabet was also quick to integrate a wide range of AI tools into Google's most popular products and services, including Gmail, Google Docs, and Google Sheets, among others. Alphabet has since released Gemini AI, which Google says outperforms ChatGPT in 30 of the 32 most widely used performance benchmarks.
While some market commentators cited Amazon for being late to the party, the company has made many of the most popular generative AI models available to Amazon Web Services (AWS) customers while also making a $4 billion investment in OpenAI rival Anthropic AI.
The company recently rolled out Amazon Q, an AI-fueled assistant focused on business use cases. Q helps employees with many of the same tasks as its rivals, summarizing documents and emails, searching corporate data banks, and submitting support requests.
The "Big Three" cloud providers
Needham analyst Laura Martin posits that as the three largest cloud infrastructure providers, Amazon, Microsoft, and Alphabet are uniquely positioned to offer AI services to cloud customers, which will ultimately vault their market caps to $3 trillion. "Generative AI will redefine the basis of competition for media and internet companies," she wrote in a note to clients.
Martin went even further: "Not only do [Microsoft, Amazon, and Google's] LLMs have the lowest cost structures and first-mover advantages, but their average lifetime value per Cloud customer is about to skyrocket owing to the stickiness of apps built on their LLMs," she said.
The numbers seem to bear out that opinion. It's estimated that 60% of all corporate data resides in the cloud, according to data compiled by Statista. Furthermore, 98% of corporations worldwide store at least some of their data there, according to cybersecurity solutions provider Check Point. AWS, Microsoft Azure, and Google Cloud control 31%, 25% and 10% of the market, respectively, according to data compiled by research firm Canalys. Given the vast reach of the big three, it's logical that they would be among the biggest beneficiaries of the AI revolution.
That's not to say Apple doesn't have much to gain from recent advances in AI, but the company's approach regarding how to deploy the technology will be different. Apple is more concerned with the continuing relevance of the iPhone and ensuring that its AI solutions further that goal.
Trillions at stake
No one knows for sure how far-reaching AI will ultimately be, but that hasn't stopped Wall Street's best and brightest from trying. Even the most conservative estimates are in the trillions of dollars, which makes it clear there will be many winners from the AI revolution.
Not only are Amazon, Microsoft, and Alphabet using recent developments in AI to strengthen their primary business offerings, but they also stand to gain by delivering to a wide audience via their cloud infrastructure platforms.
Finally, Microsoft, Alphabet, and Amazon are currently selling for 9 times, 4 times, and 2 times forward sales (as of this writing), making them relatively cheap when viewed in terms of the growing opportunity presented by AI.
Should you invest $1,000 in Microsoft right now?
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Danny Vena has positions in Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Check Point Software Technologies, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The company took a $13 billion stake in ChatGPT creator OpenAI early last year and quickly integrated productivity tools into Microsoft Office and its other software-as-a-service (SaaS) offerings. Copilot, the company's AI-powered assistant, offers hundreds of time- and work-saving features, including summarizing emails and drafting responses, creating presentations using provided data, writing and troubleshooting computer code, and even generating original content. Not only are Amazon, Microsoft, and Alphabet using recent developments in AI to strengthen their primary business offerings, but they also stand to gain by delivering to a wide audience via their cloud infrastructure platforms. | This includes the companies that make up the so-called "Magnificent Seven" stocks (as of market close on Wednesday): Nvidia: Up 229% Meta Platforms: Up 178% Tesla: Up 94% Amazon (NASDAQ: AMZN): Up 77% Microsoft (NASDAQ: MSFT): Up 56% Apple: Up 52% Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL): Up 50% Of these, Apple deserves special mention as the first publicly traded stock on U.S. markets to reach a market cap of $1 trillion and $2 trillion, respectively, and is currently the only one worth more than $3 trillion dollars. The "Big Three" cloud providers Needham analyst Laura Martin posits that as the three largest cloud infrastructure providers, Amazon, Microsoft, and Alphabet are uniquely positioned to offer AI services to cloud customers, which will ultimately vault their market caps to $3 trillion. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Check Point Software Technologies, Meta Platforms, Microsoft, Nvidia, and Tesla. | This includes the companies that make up the so-called "Magnificent Seven" stocks (as of market close on Wednesday): Nvidia: Up 229% Meta Platforms: Up 178% Tesla: Up 94% Amazon (NASDAQ: AMZN): Up 77% Microsoft (NASDAQ: MSFT): Up 56% Apple: Up 52% Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL): Up 50% Of these, Apple deserves special mention as the first publicly traded stock on U.S. markets to reach a market cap of $1 trillion and $2 trillion, respectively, and is currently the only one worth more than $3 trillion dollars. While some market commentators cited Amazon for being late to the party, the company has made many of the most popular generative AI models available to Amazon Web Services (AWS) customers while also making a $4 billion investment in OpenAI rival Anthropic AI. The "Big Three" cloud providers Needham analyst Laura Martin posits that as the three largest cloud infrastructure providers, Amazon, Microsoft, and Alphabet are uniquely positioned to offer AI services to cloud customers, which will ultimately vault their market caps to $3 trillion. | The "Big Three" cloud providers Needham analyst Laura Martin posits that as the three largest cloud infrastructure providers, Amazon, Microsoft, and Alphabet are uniquely positioned to offer AI services to cloud customers, which will ultimately vault their market caps to $3 trillion. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Check Point Software Technologies, Meta Platforms, Microsoft, Nvidia, and Tesla. | 959e8935-32fe-422e-a5b0-c9282c86cce2 |
710752.0 | 2023-12-16 00:00:00 UTC | Devon Energy Stock: Bull vs. Bear | DCOMP | https://www.nasdaq.com/articles/devon-energy-stock%3A-bull-vs.-bear | nan | nan | It's hard to argue against the attractiveness of getting paid to do nothing. That's why ultra-high-yield dividend stocks like Devon Energy (NYSE: DVN), a leading upstream energy company, garner such considerable attention from income investors.
But simply buying these stocks to generate strong passive income is hardly a sound investing strategy. It's quite possible that the alluring high yield is masking troubles with the underlying business. In the case of Devon Energy, two Fool.com contributors present both sides of the argument.
Grab this passive-income powerhouse while it's hanging on the discount rack
Scott Levine: Look at Devon Energy's history of dishing out dividends to investors and you'll find that the payout ebbs and flows. This stems from the company's policy of returning both a fixed amount and a variable amount to investors -- a policy that was an industry first when it began in 2021. On top of the fixed amount of $0.20 per share that comprises the dividend each quarter, Devon Energy plans on returning up to 50% of free cash flow.
This approach is especially alluring because it illustrates that while the company is returning a hefty amount to investors, management is acting judiciously, working to ensure the company's financial health. By retaining a large portion of its free cash flow, the company is able to reduce its debt and reinvest in the business with acquisitions and improvements in its infrastructure. And it seems to be working, as the company has an investment-grade balance sheet. Further evidence of its financial well-being comes in the form of its conservative approach to leverage. At the end of the third quarter of 2023, Devon Energy had a ratio of net debt to earnings before interest, taxes, depreciation, amortization, and exploration expenses of 0.7.
Devon Energy's stock looks particularly appealing right now from a couple of different perspectives. For one, the stock is valued at 7.6 times trailing earnings, representing a steep discount to its five-year average P/E ratio of 23.9. For those who prefer a cash-flow valuation, shares still seem attractively priced. Currently, shares are valued at 4.3 times operating cash flow -- lower than their five-year average ratio of 5.1.
Because its dividend is sensitive to the ebbs and flows in oil prices, income investors should recognize that this income stock won't provide steadily increasing dividends. Nonetheless, investors can certainly look to Devon Energy as a way to diversify their passive income portfolio with a stock that will provide hefty returns when energy prices soar.
Investors need to think carefully before buying Devon Energy
Lee Samaha: For the record, I agree that Devon Energy is an attractive stock for investors. However, it makes no sense not to explore the bear case before buying a stock, and Devon Energy might not suit all investors.
It's no secret that the fortunes of oil and gas exploration and production companies tend to be led by oil prices. That's a fact implied in a slide on Devon's third-quarter earnings presentation outlining its free-cash-flow and dividend sensitivity about the price of oil. There's nothing wrong with this, but it is a fact to consider for investors holding a portfolio overloaded with energy-related stocks.
In addition, while investors focus on oil, it's essential to recognize that the collapse in gas prices of the last year played a significant role in the lowering of Devon Energy's dividend through 2023.
DVN data by YCharts.
Moreover, the chart above shows another aspect of Devon's dividend you must consider. While many income-seeking investors are happy to hold it for the dividend and the promise, at the least, of its base dividend of $0.20 (which would yield 1.85% at the current price), the reality is the market has historically traded the stock in line with the price of oil. As such, historical trading does not support the idea that the dividend yield will support the share price.
All told Devon Energy is a fine and worthy candidate for investors looking for exposure to energy, but be prepared for some potential share price volatility if you buy it.
Should you buy these stocks now?
There's no dividend stock that's perfect for every investor. Those comfortable with the fact that Devon Energy's dividend will dip when oil prices drop, however, may want to drill down deeper into the advantages of counting this exploration and production company among their holdings. On the other hand, investors who are more concerned with generating steady passive income will want to eschew Devon Energy and consider a more reliable company like those that distinguish themselves as Dividend Kings.
Should you invest $1,000 in Devon Energy right now?
Before you buy stock in Devon Energy, consider this:
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Lee Samaha has no position in any of the stocks mentioned. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Grab this passive-income powerhouse while it's hanging on the discount rack Scott Levine: Look at Devon Energy's history of dishing out dividends to investors and you'll find that the payout ebbs and flows. In addition, while investors focus on oil, it's essential to recognize that the collapse in gas prices of the last year played a significant role in the lowering of Devon Energy's dividend through 2023. Those comfortable with the fact that Devon Energy's dividend will dip when oil prices drop, however, may want to drill down deeper into the advantages of counting this exploration and production company among their holdings. | Currently, shares are valued at 4.3 times operating cash flow -- lower than their five-year average ratio of 5.1. Because its dividend is sensitive to the ebbs and flows in oil prices, income investors should recognize that this income stock won't provide steadily increasing dividends. Before you buy stock in Devon Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Devon Energy wasn't one of them. | That's why ultra-high-yield dividend stocks like Devon Energy (NYSE: DVN), a leading upstream energy company, garner such considerable attention from income investors. Investors need to think carefully before buying Devon Energy Lee Samaha: For the record, I agree that Devon Energy is an attractive stock for investors. Before you buy stock in Devon Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Devon Energy wasn't one of them. | Because its dividend is sensitive to the ebbs and flows in oil prices, income investors should recognize that this income stock won't provide steadily increasing dividends. Investors need to think carefully before buying Devon Energy Lee Samaha: For the record, I agree that Devon Energy is an attractive stock for investors. Before you buy stock in Devon Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Devon Energy wasn't one of them. | 221299e9-c6ac-4349-9559-b52608ec5ef5 |
710753.0 | 2023-12-16 00:00:00 UTC | Reasons to Retain Danaher (DHR) Stock in Your Portfolio Now | DCOMP | https://www.nasdaq.com/articles/reasons-to-retain-danaher-dhr-stock-in-your-portfolio-now | nan | nan | Danaher Corporation DHR is benefiting from the Life Sciences segment & the Danaher Business System (DBS) initiatives despite weakness in the Biotechnology and Diagnostics segments and forex woes.
Let us discuss the reasons why investors should retain the stock for the time being.
Growth Catalysts
Business Strength: Improving supply chains and strong price realization are driving Danaher’s growth. Stable demand in the life science research and applied markets supports the Life Sciences segment. Revenues from the segment inched up 2.5% year over year in the first nine months of 2023.
Accretive Acquisition: The company aims to expand its market share, product offerings and customer base through strategic acquisitions. In December, DHR completed the acquisition of Cambridge, UK-based Abcam plc for $24.00 per share in cash. Abcam will be added to the company’s Life Sciences segment, thus boosting its capability to identify complex diseases and accelerate the drug discovery process.
DBS Initiative: The DBS initiative, which helps Danaher focus more on product innovation, superior product quality, efficient workforce building and shareholder value enhancement, is fostering the company’s growth. The company has been able to reduce the impact of supply-chain constraints and inflationary pressure through its DBS initiatives. As part of the DBS initiatives, disciplined cost management, enhanced productivity and pricing actions have supported the company’s margin performance.
Rewards to Shareholders: The company continues to increase shareholders’ value through dividend payments. In the first nine months of 2023, the company paid dividends of $621 million, up around 1% year over year. In February 2023, the company hiked its dividend by 8% to 27 cents per share.
In light of the above-mentioned positives, we believe investors should retain DHR stock for now, as suggested by its current Zacks Rank #3 (Hold).
Danaher Corporation Price and Consensus
Danaher Corporation price-consensus-chart | Danaher Corporation Quote
Stocks to Consider
Some better-ranked companies have been discussed below.
Federal Signal Corporation FSS presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 3.3%. The stock has risen 66.2% in the past year.
ITT Inc. ITT presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have soared 46.9% in the past year.
A. O. Smith Corporation AOS currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 4.4%. The stock has risen 41% in the past year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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Danaher Corporation (DHR) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
ITT Inc. (ITT) : Free Stock Analysis Report
Federal Signal Corporation (FSS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abcam will be added to the company’s Life Sciences segment, thus boosting its capability to identify complex diseases and accelerate the drug discovery process. As part of the DBS initiatives, disciplined cost management, enhanced productivity and pricing actions have supported the company’s margin performance. In light of the above-mentioned positives, we believe investors should retain DHR stock for now, as suggested by its current Zacks Rank #3 (Hold). | Danaher Corporation Price and Consensus Danaher Corporation price-consensus-chart | Danaher Corporation Quote Stocks to Consider Some better-ranked companies have been discussed below. Federal Signal Corporation FSS presently carries a Zacks Rank #2 (Buy). Click to get this free report Danaher Corporation (DHR) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report To read this article on Zacks.com click here. | DBS Initiative: The DBS initiative, which helps Danaher focus more on product innovation, superior product quality, efficient workforce building and shareholder value enhancement, is fostering the company’s growth. Danaher Corporation Price and Consensus Danaher Corporation price-consensus-chart | Danaher Corporation Quote Stocks to Consider Some better-ranked companies have been discussed below. Click to get this free report Danaher Corporation (DHR) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report To read this article on Zacks.com click here. | You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Shares of ITT have soared 46.9% in the past year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 944461b7-a81a-4c58-b96f-672be0276996 |
710754.0 | 2023-12-16 00:00:00 UTC | LPL Financial (LPLA) Takes Stake in Independent Advisor Alliance | DCOMP | https://www.nasdaq.com/articles/lpl-financial-lpla-takes-stake-in-independent-advisor-alliance | nan | nan | LPL Financial Holdings Inc. LPLA has taken a minority stake in Independent Advisor Alliance (“IAA”), which is a hybrid registered investment advisory (“RIA”) firm focused on empowering financial advisors to succeed as independent business owners. The deal is amongst the very few transactions wherein LPLA has taken a minority stake in a hybrid RIA and office of supervisory jurisdiction (“OSJ”).
LPLA has purchased a 20% stake in IAA, which has $16.8 billion in client assets under supervision and 226 financial advisors.
IAA will continue to maintain complete control and ownership of its management and operations, ensuring continuity and stability for its employees, and its existing partners and advisors.
LPLA’s investment in IAA is expected to support IAA as it continues to advance its services and tools, creating an even more supportive ecosystem for its network of financial advisors.
IAA considered various options before selecting LPLA. For IAA, the key criterion was an investor who shares a mutual and long-standing commitment to fostering innovation and enhancing services for financial advisors.
Robert Russo, the CEO and founder of IAA, stated, “Ultimately, it came down to what was in the best interest of our advisors. It’s a win-win for advisors when their RIA and broker-dealer are aligned. Our partner firms know we’re in it for the long haul. They have clarity and security in their future, combined with the best support and services in the industry.”
Russo added, “We've been in this process for probably close to two years. We had a lot of different options, and, at the end of the day, LPL just made the most sense for our advisors and our firm. LPL’s goal is to retain advisors. Doing it with LPL versus maybe an outside party made them understand that there was no ulterior motive to the deal.”
Jeremy Holly, the executive vice president of business strategy & growth at LPLA, informed, “Since its inception, IAA has been dedicated to providing robust support and innovative programs that empower financial advisors to be successful independent business owners. Like LPL, IAA’s focus is on advisors and helping them to grow their businesses. We are proud to partner with IAA as they build upon their success.”
Notably, OSJs, which are third-party companies, provide streamlined services to advisors through their staff, and from brokerages and other vendors. So far, LPLA has acquired minority positions in hybrid RIA-OSJs only thrice.
LPLA’s investment in IAA aligns with the firm’s ongoing approach in trying to work with as many advisors as possible under any circumstance.
Over the past six months, shares of LPLA have rallied 4.3% compared with the industry’s 12.7% growth.
Image Source: Zacks Investment Research
Currently, LPL Financial carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Expansion Efforts by Finance Firms
Equity Bancshares, Inc. EQBK, the holding company for Equity Bank, signed a definitive merger agreement to acquire Rockhold Bancorp, the parent company of the Bank of Kirksville, in an all-cash merger transaction.
The closing of the deal, subject to regulatory approvals and the satisfaction of customary closing conditions, is expected in first-quarter 2024. Notably, Rockhold's sole shareholder has already approved the transaction.
Per the terms of the deal, the actual transaction value of $44.3 million may be subject to adjustment, based on the adjusted equity capital of Rockhold as of the deal closure.
EQBK expects the transaction to be 36 cents or 12% accretive to earnings per share (EPS) in 2024, and 45 cents or 14.3% accretive to EPS in 2025.
The deal will add eight locations of Bank of Kirksville. With this, Equity Bank will have a network of 74 bank locations, with 23 offices in Missouri and $5.4 billion in total assets.
LCNB Corp. LCNB, the holding company for LCNB National Bank, signed a definitive agreement to acquire Eagle Financial Bancorp, Inc. in a stock-and-cash transaction. The closing of the deal, subject to the approval of Eagle Financial shareholders and regulators, and other customary conditions, is expected in the second quarter of 2024. The approval of LCNB shareholders is not required.
Eagle Financial, the holding company for EAGLE.bank, is a full-service banking institution with three offices in Cincinnati, OH. As of Sep 30, 2023, it had $175.8 million in assets, $140.8 million in loans, $135 million in deposits and $26.3 million in consolidated stockholders’ equity.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
LCNB Corporation (LCNB) : Free Stock Analysis Report
Equity Bancshares, Inc. (EQBK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For IAA, the key criterion was an investor who shares a mutual and long-standing commitment to fostering innovation and enhancing services for financial advisors. The closing of the deal, subject to the approval of Eagle Financial shareholders and regulators, and other customary conditions, is expected in the second quarter of 2024. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | LPL Financial Holdings Inc. LPLA has taken a minority stake in Independent Advisor Alliance (“IAA”), which is a hybrid registered investment advisory (“RIA”) firm focused on empowering financial advisors to succeed as independent business owners. Expansion Efforts by Finance Firms Equity Bancshares, Inc. EQBK, the holding company for Equity Bank, signed a definitive merger agreement to acquire Rockhold Bancorp, the parent company of the Bank of Kirksville, in an all-cash merger transaction. Click to get this free report LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report LCNB Corporation (LCNB) : Free Stock Analysis Report Equity Bancshares, Inc. (EQBK) : Free Stock Analysis Report To read this article on Zacks.com click here. | LPL Financial Holdings Inc. LPLA has taken a minority stake in Independent Advisor Alliance (“IAA”), which is a hybrid registered investment advisory (“RIA”) firm focused on empowering financial advisors to succeed as independent business owners. LPLA’s investment in IAA is expected to support IAA as it continues to advance its services and tools, creating an even more supportive ecosystem for its network of financial advisors. Click to get this free report LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report LCNB Corporation (LCNB) : Free Stock Analysis Report Equity Bancshares, Inc. (EQBK) : Free Stock Analysis Report To read this article on Zacks.com click here. | LPL Financial Holdings Inc. LPLA has taken a minority stake in Independent Advisor Alliance (“IAA”), which is a hybrid registered investment advisory (“RIA”) firm focused on empowering financial advisors to succeed as independent business owners. LPLA’s investment in IAA is expected to support IAA as it continues to advance its services and tools, creating an even more supportive ecosystem for its network of financial advisors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | a53cf24b-6aa0-4d9c-84e4-fca7ecbf5fd0 |
710755.0 | 2023-12-16 00:00:00 UTC | MOAT, K, VEEV, PII: Large Inflows Detected at ETF | DCOMP | https://www.nasdaq.com/articles/moat-k-veev-pii%3A-large-inflows-detected-at-etf-3 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $1.0 billion dollar inflow -- that's a 8.0% increase week over week in outstanding units (from 151,300,000 to 163,450,000). Among the largest underlying components of MOAT, in trading today Kellanova (Symbol: K) is down about 0.8%, Veeva Systems Inc (Symbol: VEEV) is up about 1%, and Polaris Inc (Symbol: PII) is up by about 0.2%. For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average:
Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $85.33 as the 52 week high point — that compares with a last trade of $84.61. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
AOI Split History
CXDO shares outstanding history
SYNC YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: AOI Split History CXDO shares outstanding history SYNC YTD Return The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $1.0 billion dollar inflow -- that's a 8.0% increase week over week in outstanding units (from 151,300,000 to 163,450,000). Among the largest underlying components of MOAT, in trading today Kellanova (Symbol: K) is down about 0.8%, Veeva Systems Inc (Symbol: VEEV) is up about 1%, and Polaris Inc (Symbol: PII) is up by about 0.2%. For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average: Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $85.33 as the 52 week high point — that compares with a last trade of $84.61. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $1.0 billion dollar inflow -- that's a 8.0% increase week over week in outstanding units (from 151,300,000 to 163,450,000). For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average: Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $85.33 as the 52 week high point — that compares with a last trade of $84.61. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Morningstar Wide Moat ETF (Symbol: MOAT) where we have detected an approximate $1.0 billion dollar inflow -- that's a 8.0% increase week over week in outstanding units (from 151,300,000 to 163,450,000). For a complete list of holdings, visit the MOAT Holdings page » The chart below shows the one year price performance of MOAT, versus its 200 day moving average: Looking at the chart above, MOAT's low point in its 52 week range is $63.59 per share, with $85.33 as the 52 week high point — that compares with a last trade of $84.61. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | d1a50c13-f97d-4d30-a53a-a58281095e3c |
710756.0 | 2023-12-16 00:00:00 UTC | NIKE (NKE) to Report Q2 Earnings: Here's What's in the Cards | DCOMP | https://www.nasdaq.com/articles/nike-nke-to-report-q2-earnings%3A-heres-whats-in-the-cards | nan | nan | NIKE Inc. NKE is slated to release second-quarter fiscal 2024 results on Dec 21. The leading sports apparel retailer is likely to have witnessed top-line growth in the fiscal second quarter, while its earnings per share are expected to have declined year over year.
The company has been gaining from its Consumer Direct Acceleration strategy, along with strong demand, compelling products, and robust performance in its digital and DTC businesses. Supply-chain constraints, continued weakness in Greater China and higher costs have been weighing on its bottom-line performance.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $13.4 billion, suggesting 0.8% growth from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for the company’s fiscal second-quarter earnings is pegged at 84 cents per share, indicating a decline of 1.2% from the year-ago reported number. Earnings estimates for the fiscal second quarter have been unchanged in the past 30 days.
In the last reported quarter, the company delivered an earnings surprise of 27.03%. Its bottom line beat the consensus estimate by 27.1%, on average, over the trailing four quarters.
NIKE, Inc. Price and EPS Surprise
NIKE, Inc. price-eps-surprise | NIKE, Inc. Quote
Key Factors to Note
NIKE is expected to have witnessed continued gains from brand strength, robust consumer demand and an innovative product pipeline in the fiscal second quarter. Gains from its Consumer Direct Acceleration strategy, and robust digital and DTC performances are expected to have been other tailwinds.
Continued strength in retail traffic trends within NIKE Direct has been boosting conversion rates. The strong member buying trends are likely to have led to a record digital performance in the to-be-reported quarter. Strength in the North America, EMEA and APLA regions, fueled by increasing traffic, higher conversion and growth in average order value, is likely to have aided sales in the to-be-reported quarter.
The NIKE Direct business has been benefiting from robust growth across regions and an efficient digital ecosystem, which comprises its online site, and commercial and activity apps. Revenues at NIKE-owned stores are expected to have gained from improved traffic, higher conversion rates and growth in average order value. The NIKE Direct business is likely to have benefited from growth in North America, EMEA and APLA, offset by continued weakness in Greater China in the to-be-reported quarter.
We expect total NIKE Brand revenues to increase 1.2% year over year to $12,872.7 million in the fiscal second quarter, driven by 2.2% growth in Direct-to-Consumer and a 0.5% rise in the Wholesale business.
On the last reported quarter’searnings call management predicted revenue growth to be up slightly from the prior year, owing to difficult comparisons from last year’s solid growth.
However, NKE has been witnessing a decline in the gross and operating margins due to rising costs, higher markdowns, increased freight and logistic costs, elevated input costs, and currency headwinds. Also, elevated SG&A expenses are concerning.
On the last reported quarter’searnings call the company predicted a 100-bps improvement in the gross margin for the second quarter of fiscal 2024, driven by gains in strategic pricing, improved markdowns and lower ocean freight rates. This is expected to have been partly offset by higher product input costs and 50 bps of negative impacts of adverse currency rates.
NIKE has been witnessing elevated SG&A expenses, driven by increased demand-creation expenses due to the normalization of sporting activities and overhead costs related to higher wages. Demand-creation expenses are likely to have increased in the fiscal second quarter, owing to elevated marketing and advertising investments. These investments are likely to have supported significant global sports moments and product launches, and investment in capabilities to transform NIKE's operating model for greater speed and effectiveness.
Operating overhead expenses are expected to have resulted from higher wage-related expenses and NIKE Direct costs, as well as increased technology investments to support digital transformation in the to-be-reported quarter.
On the last reported quarter’searnings call management expected second-quarter fiscal 2024 SG&A expenses to increase in the mid to high-single digits, owing to increased demand creation investments.
We anticipate the gross margin to expand 100 bps to 43.9%. Meanwhile, our estimate for SG&A expenses of $4,362.5 million indicates a year-over-year rise of 5.8%. We expect demand-creation expenses to increase 8% year over year and operating overheads to rise 5% year over year in the fiscal second quarter.
Driven by the soft gross margin and higher SG&A expenses, our model suggests a 50-bps contraction in the operating margin to 11.4% in the fiscal second quarter.
Zacks Model
Our proven model does not conclusively predict an earnings beat for NIKE this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
NIKE has an Earnings ESP of -0.85% and a Zacks Rank #2.
Stocks Poised to Beat Earnings Estimates
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
Deckers Outdoor DECK has an Earnings ESP of +3.27% and currently sports a Zacks Rank of 1. The company is expected to register top and bottom-line growth when it reports second-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for DECK’s quarterly revenues is pegged at $1.41 billion, which suggests growth of 4.5% from the prior-year quarter’s reported figure.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DECK’s quarterly earnings has moved up 0.6% in the past seven days to $10.93 per share. The consensus estimate for earnings suggests growth of 4.3% from the year-ago quarter’s reported figure. DECK has delivered an earnings surprise of 26.3%, on average, in the trailing four quarters.
Royal Caribbean Cruises RCL has an Earnings ESP of +0.39% and currently flaunts a Zacks Rank #1. RCL is likely to register top and bottom-line growth when it reports fourth-quarter 2023 numbers. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.4 billion, suggesting 29.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Royal Caribbean’s fourth-quarter earnings is pegged at $1.11, implying an improvement of 199.1% from the year-ago quarter’s reported number. The consensus mark for fourth-quarter earnings has risen by a penny in the past 30 days. RCL has delivered a negative bottom-line surprise of 28.3%, on average, in the trailing four quarters.
Boyd Gaming BYD currently has an Earnings ESP of +1.82% and a Zacks Rank #3. BYD is anticipated to register top and bottom-line declines when it reports fourth-quarter 2023 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $922.8 million, indicating a decline of 0.01% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Boyd Gaming’s earnings is pegged at $1.44 per share, indicating a decline of 16.3% from the prior-year quarter’s reported number. The consensus estimate for earnings has been unchanged in the past 30 days. BYD delivered an earnings surprise of 6.9%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIKE, Inc. (NKE) : Free Stock Analysis Report
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Strength in the North America, EMEA and APLA regions, fueled by increasing traffic, higher conversion and growth in average order value, is likely to have aided sales in the to-be-reported quarter. The NIKE Direct business has been benefiting from robust growth across regions and an efficient digital ecosystem, which comprises its online site, and commercial and activity apps. The NIKE Direct business is likely to have benefited from growth in North America, EMEA and APLA, offset by continued weakness in Greater China in the to-be-reported quarter. | However, NKE has been witnessing a decline in the gross and operating margins due to rising costs, higher markdowns, increased freight and logistic costs, elevated input costs, and currency headwinds. On the last reported quarter’searnings call the company predicted a 100-bps improvement in the gross margin for the second quarter of fiscal 2024, driven by gains in strategic pricing, improved markdowns and lower ocean freight rates. Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report Boyd Gaming Corporation (BYD) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Consensus Estimate for DECK’s quarterly revenues is pegged at $1.41 billion, which suggests growth of 4.5% from the prior-year quarter’s reported figure. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.4 billion, suggesting 29.6% growth from the figure reported in the prior-year quarter. Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report Boyd Gaming Corporation (BYD) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Consensus Estimate for the company’s fiscal second-quarter earnings is pegged at 84 cents per share, indicating a decline of 1.2% from the year-ago reported number. Operating overhead expenses are expected to have resulted from higher wage-related expenses and NIKE Direct costs, as well as increased technology investments to support digital transformation in the to-be-reported quarter. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 01589ee7-227a-4119-ad4c-e9d77668cc3e |
710757.0 | 2023-12-16 00:00:00 UTC | XLY, NKE, LOW, BKNG: ETF Inflow Alert | DCOMP | https://www.nasdaq.com/articles/xly-nke-low-bkng%3A-etf-inflow-alert | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Consumer Discretionary Select Sector SPDR Fund (Symbol: XLY) where we have detected an approximate $495.0 million dollar inflow -- that's a 2.6% increase week over week in outstanding units (from 106,650,000 to 109,400,000). Among the largest underlying components of XLY, in trading today Nike (Symbol: NKE) is up about 0.9%, Lowe's Companies Inc (Symbol: LOW) is up about 0.8%, and Booking Holdings Inc (Symbol: BKNG) is up by about 0.9%. For a complete list of holdings, visit the XLY Holdings page » The chart below shows the one year price performance of XLY, versus its 200 day moving average:
Looking at the chart above, XLY's low point in its 52 week range is $126 per share, with $181.38 as the 52 week high point — that compares with a last trade of $181.32. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
NWY Options Chain
PNK Options Chain
SENT Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Consumer Discretionary Select Sector SPDR Fund (Symbol: XLY) where we have detected an approximate $495.0 million dollar inflow -- that's a 2.6% increase week over week in outstanding units (from 106,650,000 to 109,400,000). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | For a complete list of holdings, visit the XLY Holdings page » The chart below shows the one year price performance of XLY, versus its 200 day moving average: Looking at the chart above, XLY's low point in its 52 week range is $126 per share, with $181.38 as the 52 week high point — that compares with a last trade of $181.32. Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Click here to find out which 9 other ETFs had notable inflows » Also see: NWY Options Chain PNK Options Chain SENT Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Consumer Discretionary Select Sector SPDR Fund (Symbol: XLY) where we have detected an approximate $495.0 million dollar inflow -- that's a 2.6% increase week over week in outstanding units (from 106,650,000 to 109,400,000). For a complete list of holdings, visit the XLY Holdings page » The chart below shows the one year price performance of XLY, versus its 200 day moving average: Looking at the chart above, XLY's low point in its 52 week range is $126 per share, with $181.38 as the 52 week high point — that compares with a last trade of $181.32. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of XLY, in trading today Nike (Symbol: NKE) is up about 0.9%, Lowe's Companies Inc (Symbol: LOW) is up about 0.8%, and Booking Holdings Inc (Symbol: BKNG) is up by about 0.9%. For a complete list of holdings, visit the XLY Holdings page » The chart below shows the one year price performance of XLY, versus its 200 day moving average: Looking at the chart above, XLY's low point in its 52 week range is $126 per share, with $181.38 as the 52 week high point — that compares with a last trade of $181.32. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | 51a28b78-d2ad-4baa-861d-0404adb5440c |
710758.0 | 2023-12-16 00:00:00 UTC | XMHQ, BLDR, MANH, DECK: Large Inflows Detected at ETF | DCOMP | https://www.nasdaq.com/articles/xmhq-bldr-manh-deck%3A-large-inflows-detected-at-etf | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco S&P MidCap Quality ETF (Symbol: XMHQ) where we have detected an approximate $435.3 million dollar inflow -- that's a 19.6% increase week over week in outstanding units (from 25,150,000 to 30,080,000). Among the largest underlying components of XMHQ, in trading today Builders FirstSource Inc. (Symbol: BLDR) is up about 2.7%, Manhattan Associates, Inc. (Symbol: MANH) is up about 1.3%, and Deckers Outdoor Corp. (Symbol: DECK) is higher by about 1.4%. For a complete list of holdings, visit the XMHQ Holdings page » The chart below shows the one year price performance of XMHQ, versus its 200 day moving average:
Looking at the chart above, XMHQ's low point in its 52 week range is $68 per share, with $89.228 as the 52 week high point — that compares with a last trade of $89.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
CADE Dividend History
FEYE Price Target
Bank of America MACD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: CADE Dividend History FEYE Price Target Bank of America MACD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of XMHQ, in trading today Builders FirstSource Inc. (Symbol: BLDR) is up about 2.7%, Manhattan Associates, Inc. (Symbol: MANH) is up about 1.3%, and Deckers Outdoor Corp. (Symbol: DECK) is higher by about 1.4%. For a complete list of holdings, visit the XMHQ Holdings page » The chart below shows the one year price performance of XMHQ, versus its 200 day moving average: Looking at the chart above, XMHQ's low point in its 52 week range is $68 per share, with $89.228 as the 52 week high point — that compares with a last trade of $89.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco S&P MidCap Quality ETF (Symbol: XMHQ) where we have detected an approximate $435.3 million dollar inflow -- that's a 19.6% increase week over week in outstanding units (from 25,150,000 to 30,080,000). For a complete list of holdings, visit the XMHQ Holdings page » The chart below shows the one year price performance of XMHQ, versus its 200 day moving average: Looking at the chart above, XMHQ's low point in its 52 week range is $68 per share, with $89.228 as the 52 week high point — that compares with a last trade of $89.12. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco S&P MidCap Quality ETF (Symbol: XMHQ) where we have detected an approximate $435.3 million dollar inflow -- that's a 19.6% increase week over week in outstanding units (from 25,150,000 to 30,080,000). For a complete list of holdings, visit the XMHQ Holdings page » The chart below shows the one year price performance of XMHQ, versus its 200 day moving average: Looking at the chart above, XMHQ's low point in its 52 week range is $68 per share, with $89.228 as the 52 week high point — that compares with a last trade of $89.12. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | 003849bd-f2d3-4707-853b-49052fb1e08f |
710759.0 | 2023-12-16 00:00:00 UTC | What Stocks To Buy Today? 2 Tech Stocks In Focus | DCOMP | https://www.nasdaq.com/articles/what-stocks-to-buy-today-2-tech-stocks-in-focus | nan | nan | The technology sector encompasses a broad range of companies focused on the development, production, and distribution of technology-based goods and services. This sector includes industries like software, hardware, electronics, and internet services. It’s a dynamic and fast-evolving sector, often leading the way in innovation and influencing various aspects of daily life and business operations. Tech companies range from startups to well-established giants, each contributing uniquely to technological advancements.
Investing in tech stocks can offer substantial advantages. The sector is known for its high growth potential, as technology becomes increasingly integral to both consumer and business markets. Tech stocks often lead in market rallies and can provide significant returns. However, there are also inherent disadvantages. The tech sector is highly competitive and subject to rapid changes in consumer preferences and technological advancements. This can lead to volatility and unpredictability in stock prices.
For investors, the tech sector requires a keen understanding of market trends and technological innovations. While tech stocks can be lucrative, they also demand careful analysis and a long-term perspective. Investors should also be aware of regulatory changes and global economic factors that can impact the tech market. Taking this into consideration, here are two blue-chip tech stocks to watch in the stock market now.
Tech Stocks To Invest In [Or Avoid] Right Now
Netflix Inc. (NASDAQ: NFLX)
Amazon.com, Inc. (NASDAQ: AMZN)
Netflix (NFLX Stock)
First up, Netflix Inc. (NFLX) is a leading global entertainment service company, primarily known for its streaming services that offer a wide array of television series, documentaries, and feature films across various genres and languages. Netflix has grown into a dominant player in the streaming content industry, producing and distributing content both produced in-house and by other content creators.
Earlier this month, Netflix announced plans to release its financial results for the fourth quarter of 2023. The report, including the company’s business outlook, will be posted on Netflix’s investor relations website on January 23, 2024, around 1:00 p.m. Pacific Time.
Year-to-date, shares of Netflix stock have advanced by 65.89% so far. Meanwhile, during Tuesday morning’s trading action, NFLX stock is trading slightly higher on the day by 0.60% at $489.05 a share.
[Read More] 3 Airline Stocks To Watch In Mid-December 2023
Amazon (AMZN Stock)
Next, Amazon.com, Inc. (AMZN) is a multinational technology company primarily recognized for its e-commerce platform, which has reshaped the global retail industry. Amazon has expanded its business scope to include cloud computing services (AWS), digital streaming, artificial intelligence, and more.
Back in October, Amazon announced better-than-expected third-quarter 2023 financial results. In detail, Amazon notched in Q3 2023 earnings of $0.85 per share, along with revenue of $143.08 billion. This is versus Wall Street’s consensus estimates for the quarter which was earnings of $0.58 per share on revenue estimates of $141.47 billion. Additionally, revenue advanced by 12.57% compared to the same period, the previous year.
In 2023 so far, shares of Amazon stock have jumped by 78.93%. With that, on Tuesday morning, AMZN stock is trading modestly lower on the day thus far by 0.34%, at $153.54 a share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The technology sector encompasses a broad range of companies focused on the development, production, and distribution of technology-based goods and services. The report, including the company’s business outlook, will be posted on Netflix’s investor relations website on January 23, 2024, around 1:00 p.m. Pacific Time. Amazon has expanded its business scope to include cloud computing services (AWS), digital streaming, artificial intelligence, and more. | Tech Stocks To Invest In [Or Avoid] Right Now Netflix Inc. (NASDAQ: NFLX) Amazon.com, Inc. (NASDAQ: AMZN) Netflix (NFLX Stock) First up, Netflix Inc. (NFLX) is a leading global entertainment service company, primarily known for its streaming services that offer a wide array of television series, documentaries, and feature films across various genres and languages. Netflix has grown into a dominant player in the streaming content industry, producing and distributing content both produced in-house and by other content creators. [Read More] 3 Airline Stocks To Watch In Mid-December 2023 Amazon (AMZN Stock) Next, Amazon.com, Inc. (AMZN) is a multinational technology company primarily recognized for its e-commerce platform, which has reshaped the global retail industry. | Taking this into consideration, here are two blue-chip tech stocks to watch in the stock market now. Tech Stocks To Invest In [Or Avoid] Right Now Netflix Inc. (NASDAQ: NFLX) Amazon.com, Inc. (NASDAQ: AMZN) Netflix (NFLX Stock) First up, Netflix Inc. (NFLX) is a leading global entertainment service company, primarily known for its streaming services that offer a wide array of television series, documentaries, and feature films across various genres and languages. [Read More] 3 Airline Stocks To Watch In Mid-December 2023 Amazon (AMZN Stock) Next, Amazon.com, Inc. (AMZN) is a multinational technology company primarily recognized for its e-commerce platform, which has reshaped the global retail industry. | For investors, the tech sector requires a keen understanding of market trends and technological innovations. Year-to-date, shares of Netflix stock have advanced by 65.89% so far. In 2023 so far, shares of Amazon stock have jumped by 78.93%. | fbd6cc87-ab13-424f-8c9e-8fcc92735844 |
710760.0 | 2023-12-16 00:00:00 UTC | Delta (DAL) Launches Codeshare Agreement With Israel Carrier | DCOMP | https://www.nasdaq.com/articles/delta-dal-launches-codeshare-agreement-with-israel-carrier | nan | nan | Delta Air Lines DAL and EL AL Israel Airlines have launched a long-term codeshare agreement aimed at providing more convenient travel options for customers flying between the United States and Israel. The agreement involves reciprocal codeshare and frequent flyer benefits, allowing passengers to earn and redeem miles on both carriers. The long-term strategic partnership has taken effect from Dec 18, 2023 for travel beginning Jan 1, 2024.
From Jan 15, both carriers will offer reciprocal benefits to their top-tier frequent flyer members. The benefits include providing preferred seat access, priority check-in and boarding, additional baggage allowance, and lounge access (where applicable).
The partnership makes DAL customers flying from North America eligible to fly on EL AL’s non-stop services from New York-JFK, New York-Newark, Boston, Los Angeles, Miami, and Fort Lauderdale to Tel Aviv. EL AL’s code will be added to Delta's non-stop Tel Aviv flights (once restored: DAL has canceled flights between the U.S. and Tel Aviv through Mar 29, 2024 because of the ongoing conflict in the region), as well as up to 280 same-day connections via Delta’s U.S. gateways in New York-JFK, Boston and Los Angeles to destinations like Atlanta, Washington DC, San Francisco, Las Vegas, Seattle, Dallas, and Toronto.
The partnership is expected to strengthen Delta's connection to Israel and enhance its global network. We believe that the decision to ink a deal with EL AL is a prudent move by Delta’s management. By expanding its network and improving connectivity, this Atlanta-based carrier can attract more customers and generate additional revenues. The ability to earn and redeem miles on both carriers will also be appealing to frequent flyers, potentially increasing customer loyalty and engagement.
Zacks Rank & Key Picks
Delta currently carries a Zacks Rank #3 (Hold). Investors interested in the Zacks Airline industry may consider stocks like Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May 2024 as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for Air Canada’s 2023 and 2024 earnings has witnessed increases of 32.6% and 41.3% in the past 60 days, respectively.
SkyWest currently carries a Zacks Rank #2. SKYW's fleet modernization efforts are commendable. The company’s initiatives to reward its shareholders also bode well.
The Zacks Consensus Estimate for SKYW’s current-year earnings has risen 38.9% in the past 60 days. The Zacks Consensus Estimate for next-year earnings has jumped 33.2% in the past 60 days.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The agreement involves reciprocal codeshare and frequent flyer benefits, allowing passengers to earn and redeem miles on both carriers. EL AL’s code will be added to Delta's non-stop Tel Aviv flights (once restored: DAL has canceled flights between the U.S. and Tel Aviv through Mar 29, 2024 because of the ongoing conflict in the region), as well as up to 280 same-day connections via Delta’s U.S. gateways in New York-JFK, Boston and Los Angeles to destinations like Atlanta, Washington DC, San Francisco, Las Vegas, Seattle, Dallas, and Toronto. The ability to earn and redeem miles on both carriers will also be appealing to frequent flyers, potentially increasing customer loyalty and engagement. | Delta Air Lines DAL and EL AL Israel Airlines have launched a long-term codeshare agreement aimed at providing more convenient travel options for customers flying between the United States and Israel. The agreement involves reciprocal codeshare and frequent flyer benefits, allowing passengers to earn and redeem miles on both carriers. Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. | Delta Air Lines DAL and EL AL Israel Airlines have launched a long-term codeshare agreement aimed at providing more convenient travel options for customers flying between the United States and Israel. EL AL’s code will be added to Delta's non-stop Tel Aviv flights (once restored: DAL has canceled flights between the U.S. and Tel Aviv through Mar 29, 2024 because of the ongoing conflict in the region), as well as up to 280 same-day connections via Delta’s U.S. gateways in New York-JFK, Boston and Los Angeles to destinations like Atlanta, Washington DC, San Francisco, Las Vegas, Seattle, Dallas, and Toronto. Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. | Delta Air Lines DAL and EL AL Israel Airlines have launched a long-term codeshare agreement aimed at providing more convenient travel options for customers flying between the United States and Israel. Investors interested in the Zacks Airline industry may consider stocks like Air Canada ACDVF and SkyWest SKYW. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | d7fc9b15-d9dd-47a5-8f4a-3327b14201f2 |
710761.0 | 2023-12-16 00:00:00 UTC | FDN, SNOW, ANET, WDAY: ETF Inflow Alert | DCOMP | https://www.nasdaq.com/articles/fdn-snow-anet-wday%3A-etf-inflow-alert | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the First Trust Dow Jones Internet Index Fund (Symbol: FDN) where we have detected an approximate $520.1 million dollar inflow -- that's a 9.0% increase week over week in outstanding units (from 31,250,002 to 34,050,002). Among the largest underlying components of FDN, in trading today Snowflake Inc (Symbol: SNOW) is up about 0.5%, Arista Networks Inc (Symbol: ANET) is off about 0.3%, and Workday Inc (Symbol: WDAY) is higher by about 0.6%. For a complete list of holdings, visit the FDN Holdings page » The chart below shows the one year price performance of FDN, versus its 200 day moving average:
Looking at the chart above, FDN's low point in its 52 week range is $118.57 per share, with $187.64 as the 52 week high point — that compares with a last trade of $187.46. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
CZA market cap history
American International Group Average Annual Return
Institutional Holders of XBTF
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the First Trust Dow Jones Internet Index Fund (Symbol: FDN) where we have detected an approximate $520.1 million dollar inflow -- that's a 9.0% increase week over week in outstanding units (from 31,250,002 to 34,050,002). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Click here to find out which 9 other ETFs had notable inflows » Also see: CZA market cap history American International Group Average Annual Return Institutional Holders of XBTF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of FDN, in trading today Snowflake Inc (Symbol: SNOW) is up about 0.5%, Arista Networks Inc (Symbol: ANET) is off about 0.3%, and Workday Inc (Symbol: WDAY) is higher by about 0.6%. For a complete list of holdings, visit the FDN Holdings page » The chart below shows the one year price performance of FDN, versus its 200 day moving average: Looking at the chart above, FDN's low point in its 52 week range is $118.57 per share, with $187.64 as the 52 week high point — that compares with a last trade of $187.46. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the First Trust Dow Jones Internet Index Fund (Symbol: FDN) where we have detected an approximate $520.1 million dollar inflow -- that's a 9.0% increase week over week in outstanding units (from 31,250,002 to 34,050,002). For a complete list of holdings, visit the FDN Holdings page » The chart below shows the one year price performance of FDN, versus its 200 day moving average: Looking at the chart above, FDN's low point in its 52 week range is $118.57 per share, with $187.64 as the 52 week high point — that compares with a last trade of $187.46. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the First Trust Dow Jones Internet Index Fund (Symbol: FDN) where we have detected an approximate $520.1 million dollar inflow -- that's a 9.0% increase week over week in outstanding units (from 31,250,002 to 34,050,002). For a complete list of holdings, visit the FDN Holdings page » The chart below shows the one year price performance of FDN, versus its 200 day moving average: Looking at the chart above, FDN's low point in its 52 week range is $118.57 per share, with $187.64 as the 52 week high point — that compares with a last trade of $187.46. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | f9032152-9d9c-42ed-bd87-b8fd4de13675 |
710762.0 | 2023-12-16 00:00:00 UTC | Amazon.com (AMZN) Elevates Prime Video With Sports Deal | DCOMP | https://www.nasdaq.com/articles/amazon.com-amzn-elevates-prime-video-with-sports-deal | nan | nan | Reportedly, Amazon AMZN is in talks with Diamond Sports Group to expand sports content on Prime Video.
Notably, negotiations between both companies are regarding a strategic investment in Diamond Sports and a multi-year streaming partnership.
If the deal happens, Prime Video will become the exclusive streaming platform for Diamond's extensive catalog of games of 40 major sports teams across the United States.
Moreover, Diamond holds local rights to a substantial portion of Major League Baseball, the National Basketball Association, and National Hockey League teams. This remains a major plus.
This strategic move underscores Amazon's determination to solidify its presence in the competitive sports streaming landscape.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Amazon’s Growth Prospects
Apart from the latest move, Amazon is constantly making efforts to strengthen its relationship with the National Football League (“NFL”).
Recently, the company introduced Thursday Night Football’s (“TNF”) weekly alternate stream called Prime Vision, which shows various graphics on the screen during the game to allow viewers to see real-time stats and analysis.
We believe growing sports content will likely strengthen Prime Video's viewership, which, in turn, is expected to drive growth in its subscriber base.
Consequently, this will drive the company’s subscription revenues.
Amazon witnessed 14% growth in its subscription services sales, which were $10.2 billion in third-quarter 2023.
Our model estimates 2023 subscription sales of $41.3 billion, indicating growth of 17.4% from 2022.
Growing momentum across subscription services is expected to continue driving the company’s overall top-line growth.
Rising Competition
Given the upbeat scenario, not only Amazon but also streaming giants, including Disney DIS, Comcast CMCSA and FuboTV FUBO, are some noteworthy players in this promising market.
Disney’s focus on sports streaming, particularly Live Sports, remains noteworthy. For instance, its ESPN+ streams tournaments like the UFC Lightweight Championship, Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, Italy’s Serie A soccer and live sporting events, original shows, series and documentaries.
Meanwhile, Peacock, owned by NBCUniversal, a subsidiary of Comcast, streams games under the Sunday Night Football package and Premier League Soccer.
FuboTV is well known for its variety of sports coverage. Recently, it has been appointed as the Official Streaming Service Partner for the Women's National Basketball Association’s Chicago Sky.
Nevertheless, AMZN’s growing focus on live sports streaming is expected to continue aiding its competitive position against the players mentioned above.
The Zacks Consensus Estimate for 2023 is pegged at $570.75 billion, indicating a year-over-year growth of 11.04%.
Currently, Amazon sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If the deal happens, Prime Video will become the exclusive streaming platform for Diamond's extensive catalog of games of 40 major sports teams across the United States. Recently, the company introduced Thursday Night Football’s (“TNF”) weekly alternate stream called Prime Vision, which shows various graphics on the screen during the game to allow viewers to see real-time stats and analysis. Rising Competition Given the upbeat scenario, not only Amazon but also streaming giants, including Disney DIS, Comcast CMCSA and FuboTV FUBO, are some noteworthy players in this promising market. | Moreover, Diamond holds local rights to a substantial portion of Major League Baseball, the National Basketball Association, and National Hockey League teams. For instance, its ESPN+ streams tournaments like the UFC Lightweight Championship, Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, Italy’s Serie A soccer and live sporting events, original shows, series and documentaries. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Comcast Corporation (CMCSA) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report fuboTV Inc. (FUBO) : Free Stock Analysis Report To read this article on Zacks.com click here. | Reportedly, Amazon AMZN is in talks with Diamond Sports Group to expand sports content on Prime Video. For instance, its ESPN+ streams tournaments like the UFC Lightweight Championship, Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, Italy’s Serie A soccer and live sporting events, original shows, series and documentaries. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Comcast Corporation (CMCSA) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report fuboTV Inc. (FUBO) : Free Stock Analysis Report To read this article on Zacks.com click here. | Reportedly, Amazon AMZN is in talks with Diamond Sports Group to expand sports content on Prime Video. Moreover, Diamond holds local rights to a substantial portion of Major League Baseball, the National Basketball Association, and National Hockey League teams. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | dae92f7a-9706-4b85-8c7d-10c521a5aa6f |
710763.0 | 2023-12-16 00:00:00 UTC | Noteworthy ETF Outflows: XLB, SHW, APD, FCX | DCOMP | https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-xlb-shw-apd-fcx-1 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $377.0 million dollar outflow -- that's a 6.9% decrease week over week (from 64,920,000 to 60,470,000). Among the largest underlying components of XLB, in trading today Sherwin-Williams Co (Symbol: SHW) is up about 0.1%, Air Products & Chemicals Inc (Symbol: APD) is up about 0.3%, and Freeport-McMoran Copper & Gold (Symbol: FCX) is up by about 2.6%. For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average:
Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $85.44. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Top Stocks Held By Carl Icahn
CYTR Options Chain
Funds Holding VGR
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $377.0 million dollar outflow -- that's a 6.9% decrease week over week (from 64,920,000 to 60,470,000). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Click here to find out which 9 other ETFs experienced notable outflows » Also see: Top Stocks Held By Carl Icahn CYTR Options Chain Funds Holding VGR The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average: Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $85.44. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $377.0 million dollar outflow -- that's a 6.9% decrease week over week (from 64,920,000 to 60,470,000). For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average: Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $85.44. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Materials Select Sector SPDR Fund (Symbol: XLB) where we have detected an approximate $377.0 million dollar outflow -- that's a 6.9% decrease week over week (from 64,920,000 to 60,470,000). Among the largest underlying components of XLB, in trading today Sherwin-Williams Co (Symbol: SHW) is up about 0.1%, Air Products & Chemicals Inc (Symbol: APD) is up about 0.3%, and Freeport-McMoran Copper & Gold (Symbol: FCX) is up by about 2.6%. For a complete list of holdings, visit the XLB Holdings page » The chart below shows the one year price performance of XLB, versus its 200 day moving average: Looking at the chart above, XLB's low point in its 52 week range is $74.33 per share, with $85.90 as the 52 week high point — that compares with a last trade of $85.44. | 26a8bc6b-3027-4715-b254-c560f036291c |
710764.0 | 2023-12-16 00:00:00 UTC | Noteworthy ETF Outflows: QUAL, LULU, CMG, SRE | DCOMP | https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-qual-lulu-cmg-sre | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI USA Quality Factor ETF (Symbol: QUAL) where we have detected an approximate $294.6 million dollar outflow -- that's a 0.8% decrease week over week (from 248,650,000 to 246,650,000). Among the largest underlying components of QUAL, in trading today lululemon athletica inc (Symbol: LULU) is up about 0.9%, Chipotle Mexican Grill Inc (Symbol: CMG) is up about 0.8%, and Sempra (Symbol: SRE) is up by about 0.2%. For a complete list of holdings, visit the QUAL Holdings page » The chart below shows the one year price performance of QUAL, versus its 200 day moving average:
Looking at the chart above, QUAL's low point in its 52 week range is $112.07 per share, with $147.90 as the 52 week high point — that compares with a last trade of $147.82. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Cheap Healthcare Stocks
FSRV Options Chain
PRSS Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs experienced notable outflows » Also see: Cheap Healthcare Stocks FSRV Options Chain PRSS Videos The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For a complete list of holdings, visit the QUAL Holdings page » The chart below shows the one year price performance of QUAL, versus its 200 day moving average: Looking at the chart above, QUAL's low point in its 52 week range is $112.07 per share, with $147.90 as the 52 week high point — that compares with a last trade of $147.82. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Click here to find out which 9 other ETFs experienced notable outflows » Also see: Cheap Healthcare Stocks FSRV Options Chain PRSS Videos The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI USA Quality Factor ETF (Symbol: QUAL) where we have detected an approximate $294.6 million dollar outflow -- that's a 0.8% decrease week over week (from 248,650,000 to 246,650,000). For a complete list of holdings, visit the QUAL Holdings page » The chart below shows the one year price performance of QUAL, versus its 200 day moving average: Looking at the chart above, QUAL's low point in its 52 week range is $112.07 per share, with $147.90 as the 52 week high point — that compares with a last trade of $147.82. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI USA Quality Factor ETF (Symbol: QUAL) where we have detected an approximate $294.6 million dollar outflow -- that's a 0.8% decrease week over week (from 248,650,000 to 246,650,000). For a complete list of holdings, visit the QUAL Holdings page » The chart below shows the one year price performance of QUAL, versus its 200 day moving average: Looking at the chart above, QUAL's low point in its 52 week range is $112.07 per share, with $147.90 as the 52 week high point — that compares with a last trade of $147.82. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | bb1f4f47-6f9e-4656-8f4e-e22dff1c4c58 |
710765.0 | 2023-12-16 00:00:00 UTC | 2 Stocks Down 17% and 18% to Buy for 2024 | DCOMP | https://www.nasdaq.com/articles/2-stocks-down-17-and-18-to-buy-for-2024 | nan | nan | No stock can stave off the bearish whims of the market and rise constantly. Experienced investors are more than familiar with this fact and will often take advantage of the dips in quality stocks, picking up shares at a discount.
While the S&P 500 has roared 23% higher since the start of the year, there are some compelling stocks that haven't enjoyed similar performances. Bearing this in mind, two Fool.com contributors believe that patient investors on the prowl for solid stocks will be well served to consider oil supermajor Chevron (NYSE: CVX) and building automation specialist Johnson Controls (NYSE: JCI) right now despite their respective year-to-date declines of 17% and 18%.
A drop in energy prices provides a great opportunity to pick up Chevron
Scott Levine (Chevron): Despite a wave of market enthusiasm this year that has pushed a variety of stocks higher, Chevron has moved in the opposite direction. But it's not that all that surprising really. Because there's a close correlation between the movements of energy stocks and the price of energy, it's logical that a company that operates through the energy value chain like Chevron would also tumble since oil benchmarks West Texas Intermediate and Brent crude have fallen 11.5% and 8.5%, respectively, since the start of the year.
But this recent volatility belies the longer-term trend of Chevron's stock. Expanding their view to the recent 10-year period, for example, investors will find that while oil benchmarks have fallen, shares of Chevron have risen. Clearly, over the long term, clearer heads prevail, suggesting that investors who buy now and plan on holding for multiple years stand to prosper.
CVX data by YCharts.
A titan in the energy industry, Chevron has long been an attractive option, but its planned acquisition of Hess makes it even more appealing. After the transaction closes (presumably in the first half of 2024), Chevron will have a more robust upstream portfolio thanks to Hess' assets in Guyana, the Bakken, and the Gulf of Mexico. Management states that the acquisition will result in Chevron benefiting from $1 billion in annual synergies as well as generating "longer-term free cash flow growth." In fact, Chevron expects to hike its quarterly dividend 8% in January, thanks to the projected long-term free-cash-flow growth potential the Hess acquisition offers.
With the recent sell-off, shares of Chevron are attractively priced. Valued at 11.1 times trailing earnings, Chevron's stock is priced at a discount to its five-year average earnings multiple of 21.4. For investors who favor the cash-flow multiple, shares still seem like a bargain, valued at 7.9 times operating cash flow -- a discount to their five-year average cash-flow multiple of 9.4.
Johnson Controls can climb a wall of worry
Lee Samaha (Johnson Controls): Heating, ventilation, and air conditioning (HVAC), building controls, and fire and security products company Johnson Controls has work to do to rebuild confidence with investors. After disappointing investors in August with its fiscal third-quarter earnings report, management did the same again in the recent, delayed, fourth-quarter earnings report.
The results were delayed due to assessing the impact of a cyber attack on its operations, and there was an impact. Still, it wasn't enough to completely explain the revenue and earnings miss in the quarter. For example, management had guided toward adjusted earnings per share (EPS) of $1.10 in the fourth quarter only to deliver $1.05 with a $0.04 negative impact from the cyber attack. In addition, management's adjusted EPS guidance of $3.65 to $3.80 for fiscal 2024 was weaker than Wall Street analysts' consensus expectation of $3.96.
But here's the thing. It's not that Johnson Controls' growth isn't strong, it's more that it isn't quite as strong as management and the market had previously thought. For example, the midpoint of the 2024 earnings guidance puts the stock at 14 times earnings and around 16.5 times free cash flow (FCF).
Those are attractive multiples of a company growing revenue in the mid-single-digit range. In addition, the company's install orders grew by 9% in the quarter, taking the install backlog up 8% year over year. It's a key metric to follow because building solution equipment installations tend to lead to building solution services and global product sales.
That's positive news, but the company will still have to overcome the negative impact of the cyber attack in the first quarter, weak global product sales (as dealers continue to rebalance their inventory after building them up during the pandemic), and ongoing weakness in residential HVAC sales.
Still, there's an opportunity for Johnson Controls to regain the trust of investors by hitting its 2024 guidance. If it can do so, the stock could be notably higher this time next year.
Should you buy these stocks now?
For investors looking to power their portfolios with a leading energy dividend stock, Chevron is a great consideration -- one that's even more attractive with the Hess acquisition. Those uninterested in playing in the oil patch, however, should certainly give Johnson Controls, a leader in smart building solutions, a close look.
Should you invest $1,000 in Chevron right now?
Before you buy stock in Chevron, consider this:
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Lee Samaha has no position in any of the stocks mentioned. Scott Levine has no position in any of the stocks mentioned. The Motley Fool recommends Chevron. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Clearly, over the long term, clearer heads prevail, suggesting that investors who buy now and plan on holding for multiple years stand to prosper. Management states that the acquisition will result in Chevron benefiting from $1 billion in annual synergies as well as generating "longer-term free cash flow growth." In fact, Chevron expects to hike its quarterly dividend 8% in January, thanks to the projected long-term free-cash-flow growth potential the Hess acquisition offers. | Valued at 11.1 times trailing earnings, Chevron's stock is priced at a discount to its five-year average earnings multiple of 21.4. For investors who favor the cash-flow multiple, shares still seem like a bargain, valued at 7.9 times operating cash flow -- a discount to their five-year average cash-flow multiple of 9.4. It's a key metric to follow because building solution equipment installations tend to lead to building solution services and global product sales. | A drop in energy prices provides a great opportunity to pick up Chevron Scott Levine (Chevron): Despite a wave of market enthusiasm this year that has pushed a variety of stocks higher, Chevron has moved in the opposite direction. Before you buy stock in Chevron, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Chevron wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Lee Samaha has no position in any of the stocks mentioned. | For investors looking to power their portfolios with a leading energy dividend stock, Chevron is a great consideration -- one that's even more attractive with the Hess acquisition. Before you buy stock in Chevron, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Chevron wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Lee Samaha has no position in any of the stocks mentioned. | 7ffea861-4018-47e7-980e-f5ada88639bc |
710766.0 | 2023-12-16 00:00:00 UTC | General Electric's (GE) Unit Wins Wind Turbine Deal in Spain | DCOMP | https://www.nasdaq.com/articles/general-electrics-ge-unit-wins-wind-turbine-deal-in-spain | nan | nan | General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has recently inked a framework deal with Forestalia for the installation of onshore wind turbines across several upcoming project sites in Spain.
Per the deal, GE will supply approximately 693 megawatts (MW) of wind turbines in 16 different project sites across the country’s Aragon region. The company will install a total of 110 units of 6.1-158 wind turbines in the Zaragoza region in six phases. The first phase, which is already in progress, will see 33 units of wind turbines being constructed at five wind farms.
Out of the 110 GE turbines, 33 turbines will have a hub height of 101 meters and the rest will have a hub height of 120.9 meters. The delivery of the turbine units will be completed by 2024 end.
This deal supports Spain’s effort to shift toward renewable sources of energy and will attract similar projects in 2024.
The collaboration between General Electric and Forestalia is built on the prior deal signed in 2016. It also bolsters GE’s wind collaboration in the region.
Recently, General Electric has received a series of deals, which are likely to drive its growth. In November 2023, General Electric secured a deal from O2 Power Private Limited to deliver, install and commission 36 units of workhorse 2.7-132 onshore wind turbines. The turbine units will be installed at a 97 MW wind power project in Maharashtra, India.
In August, GE secured two orders from Royal Golden Eagle Group’s subsidiary East Asia Power (Yangjiang) Co., Ltd. and Beijing Energy International Holding Co., Ltd. to deliver four units of 6F.03 gas turbines.
Price Performance
In the past year, the GE stock has gained 54% against the industry’s 1.2% decrease.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked companies have been discussed below.
Federal Signal Corporation FSS presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 3.3%. The stock has gained 66.2% in the past year.
ITT Inc. ITT presently carries a Zacks Rank #2. It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have jumped 46.9% in the past year.
A. O. Smith Corporation AOS currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 4.4%. The stock has gained 41% in the past year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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General Electric Company (GE) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
ITT Inc. (ITT) : Free Stock Analysis Report
Federal Signal Corporation (FSS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Per the deal, GE will supply approximately 693 megawatts (MW) of wind turbines in 16 different project sites across the country’s Aragon region. In November 2023, General Electric secured a deal from O2 Power Private Limited to deliver, install and commission 36 units of workhorse 2.7-132 onshore wind turbines. In August, GE secured two orders from Royal Golden Eagle Group’s subsidiary East Asia Power (Yangjiang) Co., Ltd. and Beijing Energy International Holding Co., Ltd. to deliver four units of 6F.03 gas turbines. | Image Source: Zacks Investment Research Zacks Rank & Stocks to Consider General Electric currently carries a Zacks Rank #3 (Hold). Federal Signal Corporation FSS presently carries a Zacks Rank #2 (Buy). Click to get this free report General Electric Company (GE) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report To read this article on Zacks.com click here. | General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has recently inked a framework deal with Forestalia for the installation of onshore wind turbines across several upcoming project sites in Spain. Image Source: Zacks Investment Research Zacks Rank & Stocks to Consider General Electric currently carries a Zacks Rank #3 (Hold). Click to get this free report General Electric Company (GE) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report To read this article on Zacks.com click here. | General Electric Company’s GE unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has recently inked a framework deal with Forestalia for the installation of onshore wind turbines across several upcoming project sites in Spain. Federal Signal Corporation FSS presently carries a Zacks Rank #2 (Buy). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 9433e4e9-7d3e-4a4c-8470-6af9ed3a58aa |
710767.0 | 2023-12-16 00:00:00 UTC | Notable ETF Inflow Detected - IYW, ADI, PANW, APH | DCOMP | https://www.nasdaq.com/articles/notable-etf-inflow-detected-iyw-adi-panw-aph | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Technology ETF (Symbol: IYW) where we have detected an approximate $207.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 113,400,000 to 115,100,000). Among the largest underlying components of IYW, in trading today Analog Devices Inc (Symbol: ADI) is up about 0.3%, Palo Alto Networks, Inc (Symbol: PANW) is up about 0.8%, and Amphenol Corp. (Symbol: APH) is up by about 0.1%. For a complete list of holdings, visit the IYW Holdings page » The chart below shows the one year price performance of IYW, versus its 200 day moving average:
Looking at the chart above, IYW's low point in its 52 week range is $72.09 per share, with $122.77 as the 52 week high point — that compares with a last trade of $122.63. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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EFAV Videos
GFIG Split History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. Click here to find out which 9 other ETFs had notable inflows » Also see: Socially Responsible Preferreds EFAV Videos GFIG Split History The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IYW, in trading today Analog Devices Inc (Symbol: ADI) is up about 0.3%, Palo Alto Networks, Inc (Symbol: PANW) is up about 0.8%, and Amphenol Corp. (Symbol: APH) is up by about 0.1%. For a complete list of holdings, visit the IYW Holdings page » The chart below shows the one year price performance of IYW, versus its 200 day moving average: Looking at the chart above, IYW's low point in its 52 week range is $72.09 per share, with $122.77 as the 52 week high point — that compares with a last trade of $122.63. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Technology ETF (Symbol: IYW) where we have detected an approximate $207.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 113,400,000 to 115,100,000). For a complete list of holdings, visit the IYW Holdings page » The chart below shows the one year price performance of IYW, versus its 200 day moving average: Looking at the chart above, IYW's low point in its 52 week range is $72.09 per share, with $122.77 as the 52 week high point — that compares with a last trade of $122.63. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Technology ETF (Symbol: IYW) where we have detected an approximate $207.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 113,400,000 to 115,100,000). For a complete list of holdings, visit the IYW Holdings page » The chart below shows the one year price performance of IYW, versus its 200 day moving average: Looking at the chart above, IYW's low point in its 52 week range is $72.09 per share, with $122.77 as the 52 week high point — that compares with a last trade of $122.63. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | f5153188-c2cf-4942-a926-ea23786a9257 |
710768.0 | 2023-12-16 00:00:00 UTC | Jacobs (J) Selected as Technical Advisor by Cork County Council | DCOMP | https://www.nasdaq.com/articles/jacobs-j-selected-as-technical-advisor-by-cork-county-council | nan | nan | The Cork County Council appointed Jacobs Solutions Inc. J as the technical advisor for the M28 motorway project in County Cork, Ireland. The project involves linking the N40 South Ring Road to the Port of Cork in Ringaskiddy.
Jacobs will provide consultancy services throughout the design, construction and closeout phases of the motorway. The project focuses on enhancing around 7.5 miles (12 km) of the N28 National Primary Route to improve safety, capacity, and accessibility. Funded by Transport Infrastructure Ireland and integral to the Core Trans-European Transport Network, the initiative facilitates the strategic development of the Port of Cork in Ringaskiddy. The motorway, slated for completion by 2030, aims to support sustainable regional and national economic development.
This development, aligned with the government's Project Ireland 2040, aims to deliver safety and economic benefits. The plan encompasses active travel measures linked to the Lee to Sea greenway, along with extending the Ballybrack Valley Pedestrian and Cycle Scheme in Douglas.
With extensive experience in multi-disciplinary integration and project delivery for critical transportation infrastructure initiatives in Ireland and worldwide, J is focused on supporting the Cork County Council in enhancing a user-centric, sustainable road network.
Solid Backlog Driving Growth Prospects
Jacobs is experiencing a surge in demand for its consulting services across a wide range of sectors, including infrastructure, water management, environmental solutions, space exploration, broadband, cybersecurity and life sciences.
At the fiscal 2023 end, the company reported a backlog of $29.1 billion, up 4.5% year over year. This reflects persistent solid demand for Jacobs' consulting services. The company is expected to benefit from strong global trends in infrastructure modernization, energy transition, national security and a potential super-cycle in global supply-chain investments.
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Jacobs’ shares have increased 9.4% in the past six months compared with the Zacks Technology Services industry’s 19.1% growth. Even though the company’s shares underperformed the industry, its consistent contract wins on the back of efficient project execution are likely to boost growth prospects.
Zacks Rank & Key Picks
Jacobs currently carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks from the Zacks Business Services sector.
TriNet Group, Inc. TNET currently sports a Zacks Rank of 1 (Strong Buy). It has a trailing four-quarter earnings surprise of 77.4%, on average. The stock has hiked 93.3% in the past year. You can see the complete list of today’s Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for TNET’s 2023 sales indicates a decline of 2.7%, but earnings per share (EPS) suggests a rise of 4%, respectively, from the year-ago period’s levels.
FirstCash Holdings, Inc. FCFS currently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 7.9%, on average. The stock has gained 25.8% in the past year.
The Zacks Consensus Estimate for FCFS’ 2023 sales and EPS indicates a 15.8% and a 13.1% rise from the year-ago period’s levels.
Duolingo, Inc. DUOL sports a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 114%, on average. The stock has surged 229.2% in the past year.
The Zacks Consensus Estimate for DUOL’s 2023 sales and EPS suggests an increase of 42.6% and 116.6%, respectively, from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Duolingo, Inc. (DUOL) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The plan encompasses active travel measures linked to the Lee to Sea greenway, along with extending the Ballybrack Valley Pedestrian and Cycle Scheme in Douglas. With extensive experience in multi-disciplinary integration and project delivery for critical transportation infrastructure initiatives in Ireland and worldwide, J is focused on supporting the Cork County Council in enhancing a user-centric, sustainable road network. Solid Backlog Driving Growth Prospects Jacobs is experiencing a surge in demand for its consulting services across a wide range of sectors, including infrastructure, water management, environmental solutions, space exploration, broadband, cybersecurity and life sciences. | With extensive experience in multi-disciplinary integration and project delivery for critical transportation infrastructure initiatives in Ireland and worldwide, J is focused on supporting the Cork County Council in enhancing a user-centric, sustainable road network. TriNet Group, Inc. TNET currently sports a Zacks Rank of 1 (Strong Buy). Click to get this free report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report TriNet Group, Inc. (TNET) : Free Stock Analysis Report Jacobs Solutions Inc. (J) : Free Stock Analysis Report Duolingo, Inc. (DUOL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Zacks Rank & Key Picks Jacobs currently carries a Zacks Rank #4 (Sell). As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Click to get this free report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report TriNet Group, Inc. (TNET) : Free Stock Analysis Report Jacobs Solutions Inc. (J) : Free Stock Analysis Report Duolingo, Inc. (DUOL) : Free Stock Analysis Report To read this article on Zacks.com click here. | With extensive experience in multi-disciplinary integration and project delivery for critical transportation infrastructure initiatives in Ireland and worldwide, J is focused on supporting the Cork County Council in enhancing a user-centric, sustainable road network. Jacobs’ shares have increased 9.4% in the past six months compared with the Zacks Technology Services industry’s 19.1% growth. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | a93feb36-ce3e-4629-8ac3-adff288bf00c |
710769.0 | 2023-12-16 00:00:00 UTC | Ionis (IONS) Out Licenses Europe Rights for HAE Drug to Otsuka | DCOMP | https://www.nasdaq.com/articles/ionis-ions-out-licenses-europe-rights-for-hae-drug-to-otsuka | nan | nan | Ionis Pharmaceuticals IONS signed a license agreement with Otsuka Pharmaceutical. Per the terms, Otsuka Pharmaceutical will acquire exclusive rights to market its investigational late-stage hereditary angioedema (HAE) therapy, donidalorsen, in Europe.
Per the agreement, Otsuka will be responsible for all regulatory filings and commercialization activities for the drug in Europe. Ionis will continue to maintain responsibility for the non-clinical and clinical development of donidalorsen
In consideration of granting these rights, Ionis will receive an upfront payment of $65 million and will also be eligible for milestone payments. Ionis will also be eligible to receive tiered royalties on the drug’s net sales, ranging from 20-30%.
One of Ionis’ wholly-owned pipeline candidates, donidalorsen, is being evaluated in an ongoing pivotal phase III study in HAE patients. Top-line data from this study is expected in the first half of 2024.
A rare genetic disease, HAE is marked by severe and potentially fatal swelling of the arms, legs, face and throat.
Last month, Ionis reported positive data from the two-year analysis of a phase II open-label expansion study evaluating donidalorsen in HAE patients. Data from the study showed that treatment with the drug led to a 96% overall sustained mean reduction in HAE attack rates across all dosing groups.
Year to date, Ionis’ shares have risen 34.3% against the industry’s 3.7% fall.
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Ionis intends to launch donidalorsen independently in the United States. If approved, the drug’s commercial launch is part of management's broad strategy to deliver a steady flow of wholly-owned medicines to patients.
Currently, Ionis’s pipeline consists of both partnered and wholly-owned candidates. The company has partnerships with big pharma companies like AstraZeneca AZN, Biogen BIIB, and Novartis NVS.
Biogen, AstraZeneca and Novartis are Ionis’ partners for tofersen, eplontersen and pelacarsen, respectively. Last year, AstraZeneca filed a new drug application (NDA) with the FDA seeking approval of eplontersen for polyneuropathy caused by hereditary TTR amyloidosis (ATTRv-PN). A final decision on the NDA is expected before the end of this week. Apart from ATTRv-PN, Ionis and AstraZeneca are evaluating eplontersen as a potential treatment for amyloid transthyretin cardiomyopathy (ATTR-CM) in the late-stage CARDIO-TTRansform study, which is on track for a data readout in first-half 2025.
Biogen and Ionis are developing advanced treatments for neurological disorders. Ionis licensed Spinraza to Biogen, which is approved for treating spinal muscular atrophy in pediatric and adult patients. While Biogen is responsible for commercializing Spinraza worldwide, Ionis receives royalties on Spinraza’s sales.
Ionis and Novartis are evaluating pelacarsen in the ongoing phase III cardiovascular outcome study, HORIZON, in patients with established cardiovascular disease and elevated lipoprotein(a) or Lp(a). Novartis is responsible for leading the candidate's global development and commercialization activities.
Ionis Pharmaceuticals, Inc. Price
Ionis Pharmaceuticals, Inc. price | Ionis Pharmaceuticals, Inc. Quote
Zacks Rank
Ionis currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last month, Ionis reported positive data from the two-year analysis of a phase II open-label expansion study evaluating donidalorsen in HAE patients. Last year, AstraZeneca filed a new drug application (NDA) with the FDA seeking approval of eplontersen for polyneuropathy caused by hereditary TTR amyloidosis (ATTRv-PN). Apart from ATTRv-PN, Ionis and AstraZeneca are evaluating eplontersen as a potential treatment for amyloid transthyretin cardiomyopathy (ATTR-CM) in the late-stage CARDIO-TTRansform study, which is on track for a data readout in first-half 2025. | One of Ionis’ wholly-owned pipeline candidates, donidalorsen, is being evaluated in an ongoing pivotal phase III study in HAE patients. Ionis Pharmaceuticals, Inc. Price Ionis Pharmaceuticals, Inc. price | Ionis Pharmaceuticals, Inc. Quote Zacks Rank Ionis currently carries a Zacks Rank #3 (Hold). Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Biogen Inc. (BIIB) : Free Stock Analysis Report Ionis Pharmaceuticals, Inc. (IONS) : Free Stock Analysis Report To read this article on Zacks.com click here. | Last month, Ionis reported positive data from the two-year analysis of a phase II open-label expansion study evaluating donidalorsen in HAE patients. Ionis Pharmaceuticals, Inc. Price Ionis Pharmaceuticals, Inc. price | Ionis Pharmaceuticals, Inc. Quote Zacks Rank Ionis currently carries a Zacks Rank #3 (Hold). Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Biogen Inc. (BIIB) : Free Stock Analysis Report Ionis Pharmaceuticals, Inc. (IONS) : Free Stock Analysis Report To read this article on Zacks.com click here. | Per the agreement, Otsuka will be responsible for all regulatory filings and commercialization activities for the drug in Europe. Novartis is responsible for leading the candidate's global development and commercialization activities. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | ac6409fb-ad49-4f42-af22-495548b6d09c |
710770.0 | 2023-12-16 00:00:00 UTC | Crane NXT (CXT) Moves 6.4% Higher: Will This Strength Last? | DCOMP | https://www.nasdaq.com/articles/crane-nxt-cxt-moves-6.4-higher%3A-will-this-strength-last | nan | nan | Crane NXT (CXT) shares soared 6.4% in the last trading session to close at $56.95. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.6% gain over the past four weeks.
The price appreciation seems to be driven by investor’s positive expectation from the company’s performance going further. Crane’s improved guidance for Q3 and full year 2023 are indications of such positive outlook. The upward revision in Adjusted EPS guidance to $4.00-$4.15, up from $3.85-$4.15, and the decrease in net non-operating expense to $45 million from $50 million, attributed to lower interest costs contribute to the company's anticipated gains.
This maker of engineered industrial products is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of -56.8%. Revenues are expected to be $354.5 million, down 57% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Crane NXT, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CXT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Crane NXT is part of the Zacks Technology Services industry. Spotify (SPOT), another stock in the same industry, closed the last trading session 0.5% higher at $193.04. SPOT has returned 9.2% in the past month.
For Spotify, the consensus EPS estimate for the upcoming report has changed -121.8% over the past month to -$0.08. This represents a change of +94.4% from what the company reported a year ago. Spotify currently has a Zacks Rank of #2 (Buy).
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Crane NXT, Co. (CXT) : Free Stock Analysis Report
Spotify Technology (SPOT) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This maker of engineered industrial products is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of -56.8%. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Crane NXT is part of the Zacks Technology Services industry. For Spotify, the consensus EPS estimate for the upcoming report has changed -121.8% over the past month to -$0.08. Click to get this free report Crane NXT, Co. (CXT) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. | While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Crane NXT is part of the Zacks Technology Services industry. Click to get this free report Crane NXT, Co. (CXT) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. | You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Crane NXT is part of the Zacks Technology Services industry. For Spotify, the consensus EPS estimate for the upcoming report has changed -121.8% over the past month to -$0.08. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 9dd7a2d6-b504-4370-b195-2aef6131cbfc |
710771.0 | 2023-12-16 00:00:00 UTC | Rayonier (RYN) Completes the Oregon Timberland Divestiture | DCOMP | https://www.nasdaq.com/articles/rayonier-ryn-completes-the-oregon-timberland-divestiture | nan | nan | Rayonier Inc. RYN completed the sale of 55,000 acres of timberland in Oregon to Manulife Investment Management for $242 million, approximately $4,400 per acre.
This transaction marks a significant milestone in RYN's asset disposition and capital structure realignment plan, aiming for $1 billion in select asset sales over 18 months, as announced on Nov 1.
The company utilized $150 million of the proceeds to reduce its only floating-rate debt. The company’s board of directors declared a one-time, special cash dividend of 20 cents per common share, payable on Jan 12, 2024, to shareholders of record on Dec 29, 2023. Approximately $30 million will be allocated for this special dividend. The remaining proceeds will be retained for additional debt reduction or other capital allocation purposes.
RYN is actively pursuing the sale of additional timberland assets to capitalize on the gap between public and private timberland values. This strategic effort is intended to position the balance sheet for a higher interest rate environment while simultaneously returning significant capital to shareholders.
Price Performance
Image Source: Zacks Investment Research
Shares of RYN fell 2% on Dec 18 during the after-hour trading session. The stock has gained 12.9% in the past three months compared with the Zacks Building Products - Wood industry’s growth of 11.2%. The company is well-positioned to benefit from its timberland portfolio in some of the most productive timber-growing regions of the United States South, the Pacific Northwest and New Zealand.
The lumber production and capacity in the U.S. South have grown substantially in the past few years. This positions Rayonier to capitalize on the favorable trend, given that 73% of its Southern timberlands are located in the top quartile markets.
In November, the company announced its capital structure realignment plan, through which it targets disposing of select assets totaling $1 billion over the next 18 months. This will enhance shareholders’ value and credit ratios, providing scope for greater capital allocation flexibility and improving CAD per share. It aims to maintain net debt to adjusted EBITDA within 3.0X compared with 4.5X targeted earlier.
Zacks Rank & Key Picks
Rayonier currently sports a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Construction sector are:
EMCOR Group, Inc. EME sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have surged 47.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels.
M-tron Industries, Inc. MPTI currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 252.3% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year’s levels.
AECOM ACM carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have surged 11% in the past year.
The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AECOM (ACM) : Free Stock Analysis Report
Rayonier Inc. (RYN) : Free Stock Analysis Report
EMCOR Group, Inc. (EME) : Free Stock Analysis Report
M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The company’s board of directors declared a one-time, special cash dividend of 20 cents per common share, payable on Jan 12, 2024, to shareholders of record on Dec 29, 2023. This strategic effort is intended to position the balance sheet for a higher interest rate environment while simultaneously returning significant capital to shareholders. The company is well-positioned to benefit from its timberland portfolio in some of the most productive timber-growing regions of the United States South, the Pacific Northwest and New Zealand. | This transaction marks a significant milestone in RYN's asset disposition and capital structure realignment plan, aiming for $1 billion in select asset sales over 18 months, as announced on Nov 1. The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels. Click to get this free report AECOM (ACM) : Free Stock Analysis Report Rayonier Inc. (RYN) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here. | Zacks Rank & Key Picks Rayonier currently sports a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels. Click to get this free report AECOM (ACM) : Free Stock Analysis Report Rayonier Inc. (RYN) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here. | You can see the complete list of today’s Zacks #1 Rank stocks here. M-tron Industries, Inc. MPTI currently sports a Zacks Rank of 1. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | a3bb9fe4-3181-4f4d-9f16-5ab890f67a7e |
710772.0 | 2023-12-16 00:00:00 UTC | Warner Bros. Discovery (WBD) Unveils Elf North Pole Workshop | DCOMP | https://www.nasdaq.com/articles/warner-bros.-discovery-wbd-unveils-elf-north-pole-workshop | nan | nan | Warner Bros. Discovery WBD recently unveiled Elf North Pole Workshop, an immersive Roblox RBLX experience built in collaboration with Fairview Portals and Supersocial. This comes as a tribute and marketing campaign on the completion of two decades of the Elf movie.
The new Roblox experience, Elf North Pole Workshop, allows fans to immerse themselves in the movie's world by choosing roles such as Toy Maker, Gift Wrapper and Wish Taker while working in Santa's workshop.
The participants will dress as elves and work together in teams to assist in Santa's Workshop. The teams' efforts and progress will show on the Clausometer, earning them digital wearables and other rewards. This immersive experience is open to participants of all ages.
Warner Bros. Discovery, Inc. Price and Consensus
Warner Bros. Discovery, Inc. price-consensus-chart | Warner Bros. Discovery, Inc. Quote
To preserve its originality, the experience features music by John Debney who composed the film's score. The Workshop's visuals replicate the stop-motion animation style from the movie. Both studios, Fairview and Supersocial, utilize special techniques, such as frame rate limiters, to achieve this on the Roblox platform.
The participants should expect to feel the same nostalgic vibe upon encountering Mr. Narwhal and Leon the Snowman within the experience amid desaturated environments and material-inspired textures replicating the acclaimed film's visuals. WBD has released a teaser showcasing the appearance of the experience.
Warner Bros. Discovery to Benefit From a Long Lineup of Shows
Since its release two decades ago, Elf has become one of the favorites among viewers, joining the ranks of Warner Bros.' top-of-the-line franchises such as Game of Thrones, Harry Potter, The Lord of the Rings, Looney Tunes, Tom and Jerry, Superman and many others.
Warner Bros. Discovery also has an extensive lineup of offerings scheduled for release between 2024 and 2025. This list includes True Detective: Night Country, The Regime, The Sympathizer and The Penguin, along with anticipated new seasons for House of the Dragon and Curb Your Enthusiasm, among others. In 2025, it expects The Last of Us, Euphoria and White Lotus.
A robust fan base, an extensive lineup of upcoming content offerings and complete ownership of storytelling intellectual property provide solid control over its content and revenue streams. This will aid the company in the long term. Our projection for the fiscal year 2023 estimates $41.32 billion in revenues, implying 22.2% year-over-year growth.
Zacks Rank and Stocks to Consider
WBD currently carries a Zacks Rank #3 (Hold). Shares have climbed 26.3% year to date.
Some better-ranked stocks from the broader Consumer Discretionary sector are Comcast CMCSA and AMC Networks AMCX, each carrying Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Comcast's fourth-quarter 2023 earnings has been revised by a penny northward to 81 cents per share in the past seven days. For fiscal 2023, earnings estimates have moved upward by a penny to $3.94 per share in the past seven days.
CMCSA’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 12.58%. Shares of Comcast have gained 27.8% year to date.
The Zacks Consensus Estimate for AMC Networks’ fourth-quarter 2023 earnings moved downward by 9 cents to 64 cents in the past 60 days. For fiscal 2023, AMCX’s earnings estimates have been revised 33 cents upward to $7.16 per share in the past 60 days.
AMC Networks’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 51.24%. Shares of AMCX have climbed 23.6% year to date.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Comcast Corporation (CMCSA) : Free Stock Analysis Report
Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report
AMC Networks Inc. (AMCX) : Free Stock Analysis Report
Roblox Corporation (RBLX) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Discovery WBD recently unveiled Elf North Pole Workshop, an immersive Roblox RBLX experience built in collaboration with Fairview Portals and Supersocial. The participants should expect to feel the same nostalgic vibe upon encountering Mr. Narwhal and Leon the Snowman within the experience amid desaturated environments and material-inspired textures replicating the acclaimed film's visuals. Discovery to Benefit From a Long Lineup of Shows Since its release two decades ago, Elf has become one of the favorites among viewers, joining the ranks of Warner Bros.' top-of-the-line franchises such as Game of Thrones, Harry Potter, The Lord of the Rings, Looney Tunes, Tom and Jerry, Superman and many others. | The Zacks Consensus Estimate for AMC Networks’ fourth-quarter 2023 earnings moved downward by 9 cents to 64 cents in the past 60 days. Click to get this free report Comcast Corporation (CMCSA) : Free Stock Analysis Report Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report AMC Networks Inc. (AMCX) : Free Stock Analysis Report Roblox Corporation (RBLX) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Consensus Estimate for Comcast's fourth-quarter 2023 earnings has been revised by a penny northward to 81 cents per share in the past seven days. Click to get this free report Comcast Corporation (CMCSA) : Free Stock Analysis Report Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report AMC Networks Inc. (AMCX) : Free Stock Analysis Report Roblox Corporation (RBLX) : Free Stock Analysis Report To read this article on Zacks.com click here. | Discovery WBD recently unveiled Elf North Pole Workshop, an immersive Roblox RBLX experience built in collaboration with Fairview Portals and Supersocial. Discovery also has an extensive lineup of offerings scheduled for release between 2024 and 2025. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | acb5338f-a542-479f-b62b-551f0b6df003 |
710773.0 | 2023-12-16 00:00:00 UTC | Here's Why One Should Retain American Airlines (AAL) Now | DCOMP | https://www.nasdaq.com/articles/heres-why-one-should-retain-american-airlines-aal-now | nan | nan | American Airlines Group Inc. AAL is benefiting from its strong air-travel demand and debt-reduction efforts.
Factors Favoring AAL
Continued recovery in air-travel demand, particularly on the domestic front, bodes well for American Airlines. Reflecting the boost in air-travel demand, consolidated traffic (measured in revenue passenger miles) rose 8.3% in the first nine months of 2023. To cater to this increased demand, capacity (measured in average seat miles) increased 7% in the same time period.
The carrier's debt-reduction efforts are impressive as well. Management aims to reduce its debt by $15 billion by the end of 2025. AAL aims to attain this objective through naturally occurring amortization. Also, it intends to utilize surplus cash and free cash flow to pay down prepayable debt. As of Sep 30, 2023, the carrier reduced its debt levels by more than $10 billion from peak levels in mid-2021.
Key Risks
American Airlines’ current ratio (a measure of liquidity) at the end of third-quarter 2023 stood at 0.69. A current ratio of less than 1 is not desirable as it implies that the company doesn't have enough liquid assets to cover its short-term liabilities.
Zacks Rank
AAL currently carries Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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American Airlines Group Inc. (AAL) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Factors Favoring AAL Continued recovery in air-travel demand, particularly on the domestic front, bodes well for American Airlines. Reflecting the boost in air-travel demand, consolidated traffic (measured in revenue passenger miles) rose 8.3% in the first nine months of 2023. Key Picks Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW. | Zacks Rank AAL currently carries Zacks Rank #3 (Hold). Air Canada currently sports a Zacks Rank #1 (Strong Buy). Click to get this free report American Airlines Group Inc. (AAL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. | Zacks Rank AAL currently carries Zacks Rank #3 (Hold). Key Picks Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW. Click to get this free report American Airlines Group Inc. (AAL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. | American Airlines Group Inc. AAL is benefiting from its strong air-travel demand and debt-reduction efforts. Management aims to reduce its debt by $15 billion by the end of 2025. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 12346427-926c-4d5b-8695-303fe349bd44 |
710774.0 | 2023-12-16 00:00:00 UTC | Kraft Heinz (KHC) Up on Transformation & Pricing Actions | DCOMP | https://www.nasdaq.com/articles/kraft-heinz-khc-up-on-transformation-pricing-actions | nan | nan | The Kraft Heinz Company KHC is progressing with its transformation to unleash its full potential. The consumer products company is benefiting from effective pricing strategies. The focus on strategic growth pillars is noteworthy.
The Zacks Rank #2 (Buy) company’s shares have increased 7.9% in the past three months against the industry’s 1.4% decline.
Let’s delve deeper.
Strategic Growth Efforts on Track
Kraft Heinz is committed to accelerating its profit and enhancing the long-term shareholders’ value. As part of its transformation phase, management unveiled AGILE@SCALE in February 2022. The strategy helps Kraft Heinz to improve its agile expertise and capabilities via partnerships with technology giants and cutting-edge innovators.
Management is on track to build its innovation pipeline aided by the Agile Innovation Engine. Strength in Kraft Heinz’s AGILE@SCALE and strategic partnerships are generating solutions throughout the value chain to drive growth and efficiency. As part of the AGILE@SCALE strategy, management is building digital-first solutions to fuel gross efficiencies.
Kraft Heinz is benefiting from strength in its three key pillars — Foodservice, Emerging Markets and U.S. Retail Grow platforms. In the Foodservice business, management prioritizes higher margin spaces and undertakes customer-friendly innovations to drive growth. Kraft Heinz’s data-driven and repeatable go-to-market model has been yielding across emerging markets. Strength in the company’s Heinz brand bodes well in such markets.
Image Source: Zacks Investment Research
Pricing Efforts: Key Driver
Kraft Heinz is undertaking strategic pricing initiatives to improve its performance. In fact, robust pricing strategies have been shielding margin performance amid inflation. In the third quarter of 2023, the company’s organic net sales increased 1.7% on favorable pricing to the tune of 7.1 percentage points — stemming from higher list prices to counter escalated input costs. Adjusted gross margin expanded 396 basis points (bps) to 34%, driven by pricing actions undertaken to offset inflation, solid gross supply chain efficiencies and a favorable mix in North America. Management expects an adjusted gross margin expansion of 200-250 bps, driven by pricing and efficiencies in 2023.
Final Thoughts
The company is battling high costs in some areas, although the inflation continues to moderate. It is focused on enhancing productivity throughout its value chain and channeling operational efficiencies into crucial areas. These investments are pivotal to KHC’s strategic framework. Strength in the company’s transformations and gains from sales growth in the company’s three key pillars bodes well.
Top 3 Staple Bets
MGP Ingredients, Inc. MGPI produces and markets ingredients and distillery products to the packaged goods industry. The company currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. MGPI has a trailing four-quarter earnings surprise of 16.2% on average.
Celsius Holdings CELH, which offers functional drinks and liquid supplements, carries a Zacks Rank #2. CELH has a trailing four-quarter earnings surprise of 110.9% on average.
The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers.
Vital Farms Inc. VITL offers a range of produced pasture-raised foods. It currently has a Zacks Rank #2. VITL has a trailing four-quarter earnings surprise of 145% on average.
The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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Kraft Heinz Company (KHC) : Free Stock Analysis Report
MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report
Celsius Holdings Inc. (CELH) : Free Stock Analysis Report
Vital Farms, Inc. (VITL) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers. The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure. | The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure. Click to get this free report Kraft Heinz Company (KHC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report Vital Farms, Inc. (VITL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Pricing Efforts: Key Driver Kraft Heinz is undertaking strategic pricing initiatives to improve its performance. The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. Click to get this free report Kraft Heinz Company (KHC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report Vital Farms, Inc. (VITL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Strength in Kraft Heinz’s AGILE@SCALE and strategic partnerships are generating solutions throughout the value chain to drive growth and efficiency. Image Source: Zacks Investment Research Pricing Efforts: Key Driver Kraft Heinz is undertaking strategic pricing initiatives to improve its performance. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | e867a01c-eb1a-40c4-b7ca-023c5251f07f |
710775.0 | 2023-12-16 00:00:00 UTC | Kohl's (KSS) Benefits From Home Business & Strategic Efforts | DCOMP | https://www.nasdaq.com/articles/kohls-kss-benefits-from-home-business-strategic-efforts | nan | nan | Focus on strategic priorities like improving customer experience and simplifying value strategies is working for Kohl’s Corporation KSS. The specialty department stores retailer is on track with building its home business, which represents a solid growth opportunity. Strength in omni-channel capabilities has been a key driver.
Let’s delve deeper.
Strategic Efforts on Track
Kohl’s is impressed with its progress toward key priorities, including improving customer experience, simplifying value strategies, undertaking disciplined inventory and expenses management and solidifying the balance sheet. In this regard, management is focused on driving growth in gifting, Sephora, impulse, home decor and longer-term new stores to enhance customer experience. The company's solid partnership with Sephora to create a new era of elevated Beauty at Kohl's is noteworthy and generates impressive results. Taking into account this success, management expects Sephora at Kohl's to be worth $2 billion by 2025.
Kohl's is growing its loyalty programs, including Kohl's Cash, Kohl's Rewards and private-label credit cards. In the second quarter of fiscal 2023, management launched a co-brand credit card, which gives consumers more ways to earn Kohl's Rewards. Kohl's is on track with managing costs, focusing on lowering the marketing spend ratio and bringing more extraordinary technology into its operations to enhance productivity.
Image Source: Zacks Investment Research
Growing Home Category
Kohl’s is committed to growing its home business. In this regard, the company has formed new vendor relationships and invested in merchandising organizations. In the third quarter of fiscal 2023, management started to flow new products into stores like wall art, glassware, ceramic home decor, barware, botanicals and lighting, among others. The home business outperformed in-stores, courtesy of impressive initial performance across new categories. KSS envisions growing this category significantly on the back of expanded assortments.
Omni-channel Strength
Kohl’s is focused on growing its store portfolio and accelerating digital business growth. The company has been expanding its footprint with new stores to drive long-term growth. During 2023, management opened six new stores and concluded one relocation while closing down one store.
Given the need of the hour, management has also been speeding up its digital marketing and enhancing its website to cater to customers’ needs. The company’s solid endeavors to boost mobile traffic have augmented the adoption of the Kohl app, making it a vital constituent of online sales. Although online sales have been under pressure recently, we expect it to be a driver in the long run.
Cost Concerns Stay
Kohl's has been witnessing higher selling, general and administrative (SG&A) expenses for a while now. In the third quarter of fiscal 2023, SG&A expenses inched up 1.9% to $1,360 million. As a percentage of total revenues, SG&A expenses rose 235 basis points (bps) to 33.5% on continued investments in Sephora shop openings, wages and other store-related expenses. Although the company’s gross margin expanded in the quarter, it continues to be affected by product cost inflation. That said, we believe that the upsides mentioned above are likely to keep narrating Kohl's growth story.
The Zacks Rank #3 (Hold) stock has increased 26.6% in the past six months compared with the industry’s growth of 22.1%.
3 Promising Stocks
We have highlighted three better-ranked stocks, namely Abercrombie & Fitch ANF, Gap GPS and American Eagle Outfitters AEO.
Abercrombie & Fitch, a leading casual apparel retailer, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial year sales indicates growth of 13.3% year over year. ANF delivered an earnings surprise of almost 713% in the last reported quarter.
Gap, a fashion retailer of apparel and accessories, currently flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 137.9%, on average.
The Zacks Consensus Estimate for Gap’s current financial year earnings per share indicates growth of 387.5% year over year.
American Eagle Outfitters, a retailer of casual apparel, accessories and footwear, currently carries a Zacks Rank #2 (Buy). AEO delivered a trailing four-quarter average earnings surprise of 23%.
The Zacks Consensus Estimate for American Eagle Outfitters’ current financial year sales and earnings suggests growth of almost 4% and 39.2%, respectively, from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Kohl's Corporation (KSS) : Free Stock Analysis Report
Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
The Gap, Inc. (GPS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Strategic Efforts on Track Kohl’s is impressed with its progress toward key priorities, including improving customer experience, simplifying value strategies, undertaking disciplined inventory and expenses management and solidifying the balance sheet. In the third quarter of fiscal 2023, management started to flow new products into stores like wall art, glassware, ceramic home decor, barware, botanicals and lighting, among others. The Zacks Consensus Estimate for American Eagle Outfitters’ current financial year sales and earnings suggests growth of almost 4% and 39.2%, respectively, from the year-ago period’s levels. | The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial year sales indicates growth of 13.3% year over year. The Zacks Consensus Estimate for American Eagle Outfitters’ current financial year sales and earnings suggests growth of almost 4% and 39.2%, respectively, from the year-ago period’s levels. Click to get this free report Kohl's Corporation (KSS) : Free Stock Analysis Report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report The Gap, Inc. (GPS) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Growing Home Category Kohl’s is committed to growing its home business. The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial year sales indicates growth of 13.3% year over year. Click to get this free report Kohl's Corporation (KSS) : Free Stock Analysis Report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report The Gap, Inc. (GPS) : Free Stock Analysis Report To read this article on Zacks.com click here. | In this regard, management is focused on driving growth in gifting, Sephora, impulse, home decor and longer-term new stores to enhance customer experience. Image Source: Zacks Investment Research Growing Home Category Kohl’s is committed to growing its home business. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 77d284ad-f99d-48a8-a6f3-22b44e28c6a9 |
710776.0 | 2023-12-16 00:00:00 UTC | U.S. Steel (X) Agrees to be Acquired by Nippon Steel for $14.1B | DCOMP | https://www.nasdaq.com/articles/u.s.-steel-x-agrees-to-be-acquired-by-nippon-steel-for-%2414.1b | nan | nan | United States Steel Corporation X and Nippon Steel Corporation (“NSC”) have officially entered into a definitive agreement. Per the terms, NSC will acquire U.S. Steel in an all-cash deal at $55 per share. This transaction — valued at approximately $14.1 billion-plus assumed debt and equating to a total enterprise value of $14.9 billion — represents a significant development in the steel industry.
The purchase price of $55 per share marks a substantial 40% premium over U.S. Steel's closing stock price as of Dec 15, 2023. The board of directors of HNSC and U.S. Steel have unanimously approved the transaction.
NSC's strategic move to acquire U.S. Steel is aimed at augmenting its global manufacturing and technology capabilities. The acquisition will facilitate an expansion of NSC's geographical reach, allowing it to better serve stakeholders, including customers and society at large. This strategic expansion will notably increase NSC's production in the United States, complementing its existing strongholds in Japan, ASEAN and India.
With the acquisition, NSC's anticipated total annual crude steel capacity is projected to reach 86 million tons, aligning with its strategic objective of achieving 100 million tons of global crude steel capacity annually.
The transaction is slated to conclude in the second or the third quarter of the calendar year 2024, subject to approval by U.S. Steel's shareholders, customary regulatory approvals and other standard closing conditions. NSC secured financing commitments from certain Japanese banks to fund the acquisition, with plans to proceed mainly through borrowings. The transaction is not contingent on any financing conditions, underscoring the confidence and commitment of NSC in finalizing this transformative deal.
United States Steel Corporation Price and Consensus
United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote
NSC underscored the synergies arising from the transaction, emphasizing the amalgamation of cutting-edge technologies and manufacturing capabilities. Commending U.S. Steel's technological prowess, historical legacy and skilled workforce, NSC expressed confidence in mutually elevated aspirations. The commitment to honor existing union contracts was reiterated. NSC looks forward to collaborative endeavors with U.S. Steel to solidify its position as the 'Best Steelmaker with World-Leading Capabilities.'
Emphasizing the transaction's strategic alignment with both companies' interests, NSC highlighted its immediate value for U.S. Steel shareholders and the prospective enhancement of long-term growth for NSC. The company expressed confidence in leveraging advancements in steelmaking to unlock potential and create enduring value for various stakeholders, encompassing customers, employees, suppliers, communities and shareholders.
Shares of U.S. Steel have surged 100.9% in the past year compared with a 32.1% rise of its industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
U.S. Steel currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc HWKN and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AXTA’s current-year earnings is pegged at $1.58, indicating year-over-year growth of 6.8%. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 6.7%. The company’s shares have increased 34.6% in the past year.
The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 1.8% in the past 60 days. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 27.5% on average. The stock has rallied around 80.8% in a year.
The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents, indicating a year-over-year surge of 89.3%. AGI beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have surged 43.5% in the past year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United States Steel Corporation (X) : Free Stock Analysis Report
Alamos Gold Inc. (AGI) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
Hawkins, Inc. (HWKN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This strategic expansion will notably increase NSC's production in the United States, complementing its existing strongholds in Japan, ASEAN and India. Commending U.S. Steel's technological prowess, historical legacy and skilled workforce, NSC expressed confidence in mutually elevated aspirations. The company expressed confidence in leveraging advancements in steelmaking to unlock potential and create enduring value for various stakeholders, encompassing customers, employees, suppliers, communities and shareholders. | With the acquisition, NSC's anticipated total annual crude steel capacity is projected to reach 86 million tons, aligning with its strategic objective of achieving 100 million tons of global crude steel capacity annually. United States Steel Corporation Price and Consensus United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote NSC underscored the synergies arising from the transaction, emphasizing the amalgamation of cutting-edge technologies and manufacturing capabilities. Click to get this free report United States Steel Corporation (X) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report To read this article on Zacks.com click here. | United States Steel Corporation Price and Consensus United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote NSC underscored the synergies arising from the transaction, emphasizing the amalgamation of cutting-edge technologies and manufacturing capabilities. Image Source: Zacks Investment Research Zacks Rank & Other Key Picks U.S. Steel currently carries a Zacks Rank #2 (Buy). Click to get this free report United States Steel Corporation (X) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report To read this article on Zacks.com click here. | NSC's strategic move to acquire U.S. Steel is aimed at augmenting its global manufacturing and technology capabilities. United States Steel Corporation Price and Consensus United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote NSC underscored the synergies arising from the transaction, emphasizing the amalgamation of cutting-edge technologies and manufacturing capabilities. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 48265797-e935-4f6c-a46e-d9f69dad35d6 |
710777.0 | 2023-12-16 00:00:00 UTC | US natgas prices ease on record output, milder weather view | DCOMP | https://www.nasdaq.com/articles/us-natgas-prices-ease-on-record-output-milder-weather-view | nan | nan | Dec 19 (Reuters) - U.S. natural gas prices eased on Tuesday on record output and forecasts for milder weather that should allow utilities to leave more gas in storage than usual through late December.
Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange (NYMEX) were down 7.9 cents, or 3.2%, lower at $2.42 per million British thermal units as of 10:01 a.m. EST, (1501 GMT). Prices were up for the last four sessions after being in oversold territory.
Financial firm LSEG said average gas output in the Lower 48 U.S. states has risen to 108.5 bcfd so far in December from a record 108.3 bcfd in November.
"Prices are falling because of abundance of supply and warmer weather than expected... Since the last few days, the market is in a consolidation phase where it may go sideways until we get more information about what kind of weather we're going to have in January," said Thomas Saal, senior vice president for energy at StoneX Financial.
LSEG forecast U.S. gas demand in the Lower 48, including exports, at 125.5 bcfd this week. However, demand was projected to slide to 120.9 bcfd during the next week when many businesses and government offices shut for the Christmas holiday.
Support from the weather factor has been limited with comparatively mild temperature views in key regions now extended into next month, analysts at energy advisory Ritterbusch and Associates said in a note.
"With each day that the temperature forecasts stretch further into January, the more important a supply surplus will become."
Record production and ample gas in storage prompted some traders to forecast that prices had already peaked this winter (November-March) in November.
Gas flows to the seven big U.S. LNG export plants have risen to an average of 14.7 bcfd so far in December, up from a record 14.3 bcfd in November.
Traders also were keeping an eye on reports that a number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.
Goldman Sachs noted that disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and liquefied natural gas (LNG) prices as vessel redirection opportunities imply that production should not be directly affected.
Several LNG vessels have changed course in recent days to avoid the Red Sea region.
Dutch and British gas prices fell, with healthy gas supply and weaker demand offsetting wider geopolitical concerns. NG/EU
Week ended Dec 15 Forecast
Week ended Dec 8 Actual
Year ago Dec 15
Five-year average
Dec 15
U.S. weekly natgas storage change (bcf):
-80
-55
-82
-107
U.S. total natgas in storage (bcf):
3,584
3,664
3,337
3,297
U.S. total storage versus 5-year average
8.7%
7.6%
Global Gas Benchmark Futures ($ per mmBtu)
Current Day
Prior Day
This Month Last Year
Prior Year Average 2022
Five Year Average (2017-2021)
Henry Hub NGc1
2.43
2.57
5.77
6.54
2.89
Title Transfer Facility (TTF) TRNLTTFMc1
10.49
11.23
36.68
40.50
7.49
Japan Korea Marker (JKM) JKMc1
12.40
11.77
32.34
34.11
8.95
LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days
Two-Week Total Forecast
Current Day
Prior Day
Prior Year
10-Year Norm
30-Year Norm
U.S. GFS HDDs
295
324
371
370
385
U.S. GFS CDDs
1
1
10
5
5
U.S. GFS TDDs
296
325
381
375
390
LSEG U.S. Weekly GFS Supply and Demand Forecasts
Prior Week
Current Week
Next Week
This Week Last Year
Five-Year (2018-2022) Average For Month
U.S. Supply (bcfd)
U.S. Lower 48 Dry Production
108.9
108.5
108.7
102.8
94.2
U.S. Imports from Canada8
8.6
8.5
9.0
10.0
9.1
U.S. LNG Imports
0.0
0.0
0.0
0.0
0.2
Total U.S. Supply
117.5
117
117.7
112.8
103.5
U.S. Demand (bcfd)
U.S. Exports to Canada
3.4
3.3
3.3
3.4
3.2
U.S. Exports to Mexico
3.8
3.8
4.4
5.2
5.0
U.S. LNG Exports
14.7
15.0
14.6
12.6
8.6
U.S. Commercial
13.8
13.9
13.0
15.4
14.6
U.S. Residential
22.3
22.4
20.9
25.8
24.7
U.S. Power Plant
34.1
34.2
32.7
30.4
28.6
U.S. Industrial
24.7
24.7
24.0
24.7
25.0
U.S. Plant Fuel
5.4
5.4
5.4
5.3
5.3
U.S. Pipe Distribution
2.7
2.8
2.6
2.7
2.9
U.S. Vehicle Fuel
0.1
0.1
0.1
0.1
0.1
Total U.S. Consumption
103.1
103.5
98.7
104.4
101.2
Total U.S. Demand
125.0
125.5
120.9
125.6
118.0
U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam
Current Day % of Normal Forecast
Prior Day % of Normal Forecast
2023
% of Normal Actual
2022 % of Normal Actual
2021 % of Normal Actual
Apr-Sep
82
83
83
107
81
Jan-Jul
81
81
77
102
79
Oct-Sep
81
82
76
103
81
U.S. weekly power generation percent by fuel - EIA
Week ended Dec 22
Week ended Dec 15
Week ended Dec 8
Week ended Dec 1
Week ended Nov 24
Wind
10
11
12
10
11
Solar
3
3
3
3
3
Hydro
6
6
5
6
6
Other
2
2
2
2
2
Petroleum
0
0
0
0
0
Natural Gas
42
41
40
42
39
Coal
18
17
17
17
16
Nuclear
20
20
21
20
22
SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu)
Hub
Current Day
Prior Day
Henry Hub NG-W-HH-SNL
2.59
2.44
Transco Z6 New York NG-CG-NY-SNL
2.21
1.64
PG&E Citygate NG-CG-PGE-SNL
3.97
3.93
Eastern Gas (old Dominion South) NG-PCN-APP-SNL
1.94
1.64
Chicago Citygate NG-CG-CH-SNL
2.26
2.20
Algonquin Citygate NG-CG-BS-SNL
2.86
1.88
SoCal Citygate NG-SCL-CGT-SNL
3.30
3.48
Waha Hub NG-WAH-WTX-SNL
1.73
1.96
AECO NG-ASH-ALB-SNL
1.85
1.76
SNL U.S. Power Next-Day Prices ($ per megawatt-hour)
Hub
Current Day
Prior Day
New England EL-PK-NPMS-SNL
33.00
27.00
PJM West EL-PK-PJMW-SNL
43.25
24.50
Ercot North EL-PK-ERTN-SNL
15.00
18.00
Mid C EL-PK-MIDC-SNL
50.00
62.68
Palo Verde EL-PK-PLVD-SNL
50.25
47.00
SP-15 EL-PK-SP15-SNL
51.50
43.50
(Reporting by Sherin Elizabeth Varghese and Ashitha Shivaprasad in Bengaluru; Editing by Paul Simao)
((Ashitha.Shivaprasad@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange (NYMEX) were down 7.9 cents, or 3.2%, lower at $2.42 per million British thermal units as of 10:01 a.m. EST, (1501 GMT). Support from the weather factor has been limited with comparatively mild temperature views in key regions now extended into next month, analysts at energy advisory Ritterbusch and Associates said in a note. Goldman Sachs noted that disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and liquefied natural gas (LNG) prices as vessel redirection opportunities imply that production should not be directly affected. | NG/EU Week ended Dec 15 Forecast Week ended Dec 8 Actual Year ago Dec 15 Five-year average Dec 15 U.S. weekly natgas storage change (bcf): -80 -55 -82 -107 U.S. total natgas in storage (bcf): 3,584 3,664 3,337 3,297 U.S. total storage versus 5-year average 8.7% 7.6% Global Gas Benchmark Futures ($ per mmBtu) Current Day Prior Day This Month Last Year Prior Year Average 2022 Five Year Average (2017-2021) Henry Hub NGc1 2.43 2.57 5.77 6.54 2.89 Title Transfer Facility (TTF) TRNLTTFMc1 10.49 11.23 36.68 40.50 7.49 Japan Korea Marker (JKM) JKMc1 12.40 11.77 32.34 34.11 8.95 LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days Two-Week Total Forecast Current Day Prior Day Prior Year 10-Year Norm 30-Year Norm U.S. GFS HDDs 295 324 371 370 385 U.S. GFS CDDs 1 1 10 5 5 U.S. GFS TDDs 296 325 381 375 390 LSEG U.S. Weekly GFS Supply and Demand Forecasts Prior Week Current Week Next Week This Week Last Year Five-Year (2018-2022) Average For Month U.S. Supply (bcfd) U.S. Lower 48 Dry Production 108.9 108.5 108.7 102.8 94.2 U.S. Imports from Canada8 8.6 8.5 9.0 10.0 9.1 U.S. LNG Imports 0.0 0.0 0.0 0.0 0.2 Total U.S. Supply 117.5 117 117.7 112.8 103.5 U.S. Demand (bcfd) U.S. Exports to Canada 3.4 3.3 3.3 3.4 3.2 U.S. Exports to Mexico 3.8 3.8 4.4 5.2 5.0 U.S. LNG Exports 14.7 15.0 14.6 12.6 8.6 U.S. Commercial 13.8 13.9 13.0 15.4 14.6 U.S. Consumption 103.1 103.5 98.7 104.4 101.2 Total U.S. Demand 125.0 125.5 120.9 125.6 118.0 U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam Current Day % of Normal Forecast Prior Day % of Normal Forecast 2023 % of Normal Actual 2022 % of Normal Actual 2021 % of Normal Actual Apr-Sep 82 83 83 107 81 Jan-Jul 81 81 77 102 79 Oct-Sep 81 82 76 103 81 U.S. weekly power generation percent by fuel - EIA Week ended Dec 22 Week ended Dec 15 Week ended Dec 8 Week ended Dec 1 Week ended Nov 24 Wind 10 11 12 10 11 Solar 3 3 3 3 3 Hydro 6 6 5 6 6 Other 2 2 2 2 2 Petroleum 0 0 0 0 0 Natural Gas 42 41 40 42 39 Coal 18 17 17 17 16 Nuclear 20 20 21 20 22 SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu) Hub Current Day Prior Day Henry Hub NG-W-HH-SNL 2.59 2.44 Transco Z6 New York NG-CG-NY-SNL 2.21 1.64 PG&E Citygate NG-CG-PGE-SNL 3.97 3.93 Eastern Gas (old Dominion South) NG-PCN-APP-SNL 1.94 1.64 Chicago Citygate NG-CG-CH-SNL 2.26 2.20 Algonquin Citygate NG-CG-BS-SNL 2.86 1.88 SoCal Citygate NG-SCL-CGT-SNL 3.30 3.48 Waha Hub NG-WAH-WTX-SNL 1.73 1.96 1.85 1.76 SNL U.S. Power Next-Day Prices ($ per megawatt-hour) Hub Current Day Prior Day New England EL-PK-NPMS-SNL 33.00 27.00 PJM West EL-PK-PJMW-SNL 43.25 24.50 Ercot North EL-PK-ERTN-SNL 15.00 18.00 Mid C EL-PK-MIDC-SNL 50.00 62.68 Palo Verde EL-PK-PLVD-SNL 50.25 47.00 | Dec 19 (Reuters) - U.S. natural gas prices eased on Tuesday on record output and forecasts for milder weather that should allow utilities to leave more gas in storage than usual through late December. NG/EU Week ended Dec 15 Forecast Week ended Dec 8 Actual Year ago Dec 15 Five-year average Dec 15 U.S. weekly natgas storage change (bcf): -80 -55 -82 -107 U.S. total natgas in storage (bcf): 3,584 3,664 3,337 3,297 U.S. total storage versus 5-year average 8.7% 7.6% Global Gas Benchmark Futures ($ per mmBtu) Current Day Prior Day This Month Last Year Prior Year Average 2022 Five Year Average (2017-2021) Henry Hub NGc1 2.43 2.57 5.77 6.54 2.89 Title Transfer Facility (TTF) TRNLTTFMc1 10.49 11.23 36.68 40.50 7.49 Japan Korea Marker (JKM) JKMc1 12.40 11.77 32.34 34.11 8.95 LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days Two-Week Total Forecast Current Day Prior Day Prior Year 10-Year Norm 30-Year Norm U.S. GFS HDDs 295 324 371 370 385 U.S. GFS CDDs 1 1 10 5 5 U.S. GFS TDDs 296 325 381 375 390 LSEG U.S. Weekly GFS Supply and Demand Forecasts Prior Week Current Week Next Week This Week Last Year Five-Year (2018-2022) Average For Month U.S. Supply (bcfd) U.S. Lower 48 Dry Production 108.9 108.5 108.7 102.8 94.2 U.S. Imports from Canada8 8.6 8.5 9.0 10.0 9.1 U.S. LNG Imports 0.0 0.0 0.0 0.0 0.2 Total U.S. Supply 117.5 117 117.7 112.8 103.5 U.S. Demand (bcfd) U.S. Exports to Canada 3.4 3.3 3.3 3.4 3.2 U.S. Exports to Mexico 3.8 3.8 4.4 5.2 5.0 U.S. LNG Exports 14.7 15.0 14.6 12.6 8.6 U.S. Commercial 13.8 13.9 13.0 15.4 14.6 U.S. Consumption 103.1 103.5 98.7 104.4 101.2 Total U.S. Demand 125.0 125.5 120.9 125.6 118.0 U.S. Northwest River Forecast Center (NWRFC) at The Dalles Dam Current Day % of Normal Forecast Prior Day % of Normal Forecast 2023 % of Normal Actual 2022 % of Normal Actual 2021 % of Normal Actual Apr-Sep 82 83 83 107 81 Jan-Jul 81 81 77 102 79 Oct-Sep 81 82 76 103 81 U.S. weekly power generation percent by fuel - EIA Week ended Dec 22 Week ended Dec 15 Week ended Dec 8 Week ended Dec 1 Week ended Nov 24 Wind 10 11 12 10 11 Solar 3 3 3 3 3 Hydro 6 6 5 6 6 Other 2 2 2 2 2 Petroleum 0 0 0 0 0 Natural Gas 42 41 40 42 39 Coal 18 17 17 17 16 Nuclear 20 20 21 20 22 SNL U.S. Natural Gas Next-Day Prices ($ per mmBtu) Hub Current Day Prior Day Henry Hub NG-W-HH-SNL 2.59 2.44 Transco Z6 New York NG-CG-NY-SNL 2.21 1.64 PG&E Citygate NG-CG-PGE-SNL 3.97 3.93 Eastern Gas (old Dominion South) NG-PCN-APP-SNL 1.94 1.64 Chicago Citygate NG-CG-CH-SNL 2.26 2.20 Algonquin Citygate NG-CG-BS-SNL 2.86 1.88 SoCal Citygate NG-SCL-CGT-SNL 3.30 3.48 Waha Hub NG-WAH-WTX-SNL 1.73 1.96 | LSEG forecast U.S. gas demand in the Lower 48, including exports, at 125.5 bcfd this week. Gas flows to the seven big U.S. LNG export plants have risen to an average of 14.7 bcfd so far in December, up from a record 14.3 bcfd in November. NG/EU Week ended Dec 15 Forecast Week ended Dec 8 Actual Year ago Dec 15 Five-year average Dec 15 U.S. weekly natgas storage change (bcf): -80 -55 -82 -107 U.S. total natgas in storage (bcf): 3,584 3,664 3,337 3,297 U.S. total storage versus 5-year average 8.7% 7.6% Global Gas Benchmark Futures ($ per mmBtu) Current Day Prior Day This Month Last Year Prior Year Average 2022 Five Year Average (2017-2021) Henry Hub NGc1 2.43 2.57 5.77 6.54 2.89 Title Transfer Facility (TTF) TRNLTTFMc1 10.49 11.23 36.68 40.50 7.49 Japan Korea Marker (JKM) JKMc1 12.40 11.77 32.34 34.11 8.95 LSEG Heating (HDD), Cooling (CDD) and Total (TDD) Degree Days Two-Week Total Forecast Current Day Prior Day Prior Year 10-Year Norm 30-Year Norm U.S. GFS HDDs 295 324 371 370 385 U.S. GFS CDDs 1 1 10 5 5 U.S. GFS TDDs 296 325 381 375 390 LSEG U.S. Weekly GFS Supply and Demand Forecasts Prior Week Current Week Next Week This Week Last Year Five-Year (2018-2022) Average For Month U.S. Supply (bcfd) U.S. Lower 48 Dry Production 108.9 108.5 108.7 102.8 94.2 U.S. Imports from Canada8 8.6 8.5 9.0 10.0 9.1 U.S. LNG Imports 0.0 0.0 0.0 0.0 0.2 Total U.S. Supply 117.5 117 117.7 112.8 103.5 U.S. Demand (bcfd) U.S. Exports to Canada 3.4 3.3 3.3 3.4 3.2 U.S. Exports to Mexico 3.8 3.8 4.4 5.2 5.0 U.S. LNG Exports 14.7 15.0 14.6 12.6 8.6 U.S. Commercial 13.8 13.9 13.0 15.4 14.6 U.S. | b1487e38-ef72-47c8-88ec-8300ceec5a20 |
710778.0 | 2023-12-16 00:00:00 UTC | 5 Secret Santa Stocks to Pop Surprise Returns | DCOMP | https://www.nasdaq.com/articles/5-secret-santa-stocks-to-pop-surprise-returns | nan | nan | Wall Street has been sizzling hot this holiday season, with the three major U.S. bourses extending the seven-week solid momentum. Speculation that the Fed is done with interest rate hikes is the major catalyst. The solid trend is likely to continue, given that the Santa Claus rally is on the way.
Santa Claus rally refers to the increase in stock prices in the final week of the calendar year (i.e., between Christmas and New Year’s Day) that extends into the first two days of the New Year. This looks more real this year, given that the Fed has boosted optimism in the stock market by indicating deeper rate cuts than expected for the next year.
Against such a backdrop, there are some hidden gems, or Secret Santa as we call them, that could surprise investors with big returns this Christmas. We have chosen five stocks that have underperformed this year but have a Zacks Rank #1 (Strong Buy) or 2 (Buy) with a Momentum Score of B or higher. Some of these are Enanta Pharmaceuticals, Inc. ENTA, OneConnect Financial Technology Co. OCFT, KNOT Offshore Partners LP KNOP, Hippo Holdings Inc. HIPO and H World Group Limited HTHT from different segments of the market. You can see the complete list of today’s Zacks #1 Rank stocks here.
Good Tidings Flow
With inflation easing and the economy holding up better, the Fed has shifted to a dovish view. The central bank expects the federal funds rate to fall to a range of 4.4-4.9% in 2024, down from the current 5.25% to 5.50%. Markets have been pricing in a nearly 60% chance that the Fed will begin to cut rates at its March meeting, up from 40% the day prior, per the data from CME Group.
Americans are feeling more confident about the economy than they did over the past few months, heading into Christmas. Consumer sentiment rebounded sharply in early December as worries about inflation receded. Retail sales also posted surprise growth in November after declining in the prior month. The data points to resilient consumers and a strong start to the holiday season, indicating that Santa is on the way.
Though good tidings have already started flowing in, thanks to the Fed, year-end seasonal factors such as holiday optimism, tax-related affairs, investment of Christmas bonuses, mutual fund manager window dressing, and the “January effect” will continue to push stocks higher.
Since 1950, the S&P 500 has risen 1.3% on average over the final five trading days of December and the first two days of January, according to the Stock Trader’s Almanac. The Santa Claus rally has occurred in 59 years since 1950, including 2022-23, when the S&P 500 rose 0.8% over the seven trading days.
Here Comes Secret Santa!
Enanta Pharmaceuticals is a biotechnology company that is engaged in the research and development of molecule drugs for the treatment of infectious diseases such as hepatitis C virus, respiratory tract infections, and intravenous and oral treatments.
Enanta Pharmaceuticals has plunged about 80% this year and carries a Zacks Rank #2. It belongs to a top-ranked industry (in the top 30%) and has a Momentum Score of B.
OneConnect Financial is engaged in providing cloud-native technology solutions to financial institutions, primarily in China. With a market cap of $112.3 million, the stock belongs to a top-ranked industry (in the top 30%).
OneConnect Financial carries a Zacks Rank #2 and has a Momentum Score of A. The stock is down about 56% this year.
KNOT Offshore is engaged in owning, acquiring and operating shuttle tankers designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. It has a market cap of $197.1 million.
KNOT Offshore has lost 38.5% this month. It belongs to an industry that is ranked in the top 21%. It has a Zacks Rank #1 and a Momentum Score of B.
Hippo Holdings offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. It has a market cap of $2.9 billion.
Hippo Holdings has plunged 40.5% so far this year and carries a Zacks Rank #2. It belongs to a top-ranked industry (in the top 12%) and has a Momentum Score of B.
H World Group is involved in the hotel industry. Its brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. The stock has declined 19% this year.
With a market cap of $1.7 billion, H World Group Limited has a solid Zacks Industry rank in the top 37%. HTHT has a Zacks Rank #1 and a Momentum Score of A.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some of these are Enanta Pharmaceuticals, Inc. ENTA, OneConnect Financial Technology Co. OCFT, KNOT Offshore Partners LP KNOP, Hippo Holdings Inc. HIPO and H World Group Limited HTHT from different segments of the market. Markets have been pricing in a nearly 60% chance that the Fed will begin to cut rates at its March meeting, up from 40% the day prior, per the data from CME Group. Though good tidings have already started flowing in, thanks to the Fed, year-end seasonal factors such as holiday optimism, tax-related affairs, investment of Christmas bonuses, mutual fund manager window dressing, and the “January effect” will continue to push stocks higher. | Some of these are Enanta Pharmaceuticals, Inc. ENTA, OneConnect Financial Technology Co. OCFT, KNOT Offshore Partners LP KNOP, Hippo Holdings Inc. HIPO and H World Group Limited HTHT from different segments of the market. Click to get this free report H World Group Limited Sponsored ADR (HTHT) : Free Stock Analysis Report Enanta Pharmaceuticals, Inc. (ENTA) : Free Stock Analysis Report KNOT Offshore Partners LP (KNOP) : Free Stock Analysis Report OneConnect Financial Technology Co., Ltd. Sponsored ADR (OCFT) : Free Stock Analysis Report Hippo Holdings Inc. (HIPO) : Free Stock Analysis Report To read this article on Zacks.com click here. | Santa Claus rally refers to the increase in stock prices in the final week of the calendar year (i.e., between Christmas and New Year’s Day) that extends into the first two days of the New Year. HTHT has a Zacks Rank #1 and a Momentum Score of A. Zacks Naming Top 10 Stocks for 2024 Want to be tipped off early to our 10 top picks for the entirety of 2024? Click to get this free report H World Group Limited Sponsored ADR (HTHT) : Free Stock Analysis Report Enanta Pharmaceuticals, Inc. (ENTA) : Free Stock Analysis Report KNOT Offshore Partners LP (KNOP) : Free Stock Analysis Report OneConnect Financial Technology Co., Ltd. | Enanta Pharmaceuticals has plunged about 80% this year and carries a Zacks Rank #2. Hippo Holdings has plunged 40.5% so far this year and carries a Zacks Rank #2. With a market cap of $1.7 billion, H World Group Limited has a solid Zacks Industry rank in the top 37%. | b39f9cad-d09d-4057-9638-7cf87a801d60 |
710779.0 | 2023-12-16 00:00:00 UTC | Here's Why You Should Invest in Penumbra (PEN) Stock Now | DCOMP | https://www.nasdaq.com/articles/heres-why-you-should-invest-in-penumbra-pen-stock-now | nan | nan | Penumbra, Inc. PEN is gaining as vascular and neuro businesses are showcasing encouraging growth trends. The Immersive Healthcare business is making significant progress as well. Yet, currency movements and a challenging competitive landscape affect the top line.
Year-to-date, the Zacks Rank #2 (Buy) stock has gained 11.2% compared with the industry’s 1.7% rise and the S&P 500’s 23.4% rise.
The global healthcare provider company has a market capitalization of $9.55 billion. It surpassed estimates in the trailing four quarters, the average surprise being 56.7%.
Key Growth Catalysts
Robust Vascular Business Growth: Penumbra is demonstrating strong growth within the Vascular business, banking on the rapid increase in sales of the company’s vascular thrombectomy products in the United States. In this region, the company is benefiting from sales of new products and further market penetration of existing products. Added to this, the company successfully launched the Lightning Bolt 7 arterial thrombectomy system in June following its FDA clearance in March 2023. Lightning Flash and Lightning Bolt are also accelerating Penumbra’s U.S. vascular thrombectomy franchise, up 42% year over year in the third quarter. The company expects to see a robust growth trajectory in the Vascular arm in the next five years and beyond.
Improving Neuro Trend: Within the Neuro franchise, Penumbra is witnessing an acceleration in the company’s stroke business. According to Penumbra, these products and the recently launched BMX81 will continue to increase the company’s growth and market share in Neuro as physicians continue to realize the trade-off with oversized aspiration catheters in the market in the past several years.
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In the third quarter, a strong increase in the company’s Neuro product sales was driven by an increase in sales of neuro thrombectomy products and neuro access products.
Stable Solvency Structure: Penumbra exited the third quarter of 2023 with cash and cash equivalents of $249 million compared with $221 million at the end of the second quarter of 2023. Total debt was $24 million, much lower than the corresponding cash and cash equivalent level. Also, it has no short-term-payable debt on its balance sheet. This is good news in terms of the company’s solvency position, particularly during a global inflationary situation and supply halt issues.
At the end of the third quarter of 2023, total debt-to-capital was low at 2.1%. This compares to 2.2% in the second quarter. The industry’s debt-to-capital ratio of 30.8% stands significantly higher than that of the company.
Downsides
Foreign Exchange Impacts Sales: A significant portion of Penumbra’s sales and costs are exposed to changes in foreign exchange rates. In 2022, approximately 30.2% of the company's consolidated revenues came from the non-U.S. markets. The company’s operations use multiple foreign currencies, including the euro and Japanese yen. Changes in those currencies relative to the U.S. dollar will impact sales, cost of sales and expenses, and, consequently, net income.
Tough Competitive Landscape: The medical device industry is intensely competitive, subject to rapid change and affected by new product introductions and other market activities of industry participants. Penumbra competes with a number of manufacturers and distributors of neuro and vascular medical devices.
Estimate Trends
In the past 90 days, the Zacks Consensus Estimate for its fiscal 2023 earnings has moved up 17.2% to $2.04.
The Zacks Consensus Estimate for fiscal 2023 revenues is pegged at $1.06 billion, indicating a 25.3% rise from the year-ago reported number.
Key Picks
Some other top-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. While Haemonetics and DexCom each carry a Zacks Rank #2, Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 11.6% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have increased 8.9% in the past year compared with the industry’s rise of 1.7%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Added to this, the company successfully launched the Lightning Bolt 7 arterial thrombectomy system in June following its FDA clearance in March 2023. Key Picks Some other top-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. | Key Growth Catalysts Robust Vascular Business Growth: Penumbra is demonstrating strong growth within the Vascular business, banking on the rapid increase in sales of the company’s vascular thrombectomy products in the United States. Image Source: Zacks Investment Research In the third quarter, a strong increase in the company’s Neuro product sales was driven by an increase in sales of neuro thrombectomy products and neuro access products. Click to get this free report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report Penumbra, Inc. (PEN) : Free Stock Analysis Report To read this article on Zacks.com click here. | Key Growth Catalysts Robust Vascular Business Growth: Penumbra is demonstrating strong growth within the Vascular business, banking on the rapid increase in sales of the company’s vascular thrombectomy products in the United States. Image Source: Zacks Investment Research In the third quarter, a strong increase in the company’s Neuro product sales was driven by an increase in sales of neuro thrombectomy products and neuro access products. Click to get this free report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report Penumbra, Inc. (PEN) : Free Stock Analysis Report To read this article on Zacks.com click here. | Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days. Shares of the company have increased 8.9% in the past year compared with the industry’s rise of 1.7%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 0ad1afaf-c2aa-4159-8fe7-98c2179f0c29 |
710780.0 | 2023-12-16 00:00:00 UTC | Affirm (AFRM) & Liberty Travel Partner to Expand Payment Options | DCOMP | https://www.nasdaq.com/articles/affirm-afrm-liberty-travel-partner-to-expand-payment-options | nan | nan | Affirm Holdings, Inc. AFRM recently announced its partnership with a travel platform — Liberty Travel. The deal enables Affirm to provide flexible payment options, like buy now pay later (BNPL), to consumers for travel bookings, which will boost its transaction volumes.
The deal comes at an opportune time for AFRM as demand for flexible payment options in travel booking is rapidly increasing. The company’s travel and ticketing purchase volume surged 60% year over year in the September quarter. The latest move is expected to make Affirm’s payment options available at the checkout for qualifying Liberty Travel customers. Customers will be able to divide the total cost into monthly payments for purchases of more than $250.
This move adds Liberty Travel to Affirm’s network of more than 266,000 merchants.The massive network includes merchants like Great Wolf Lodge, American Airlines, CheapOair and many others. The collaboration is expected to boost Liberty Travel sales, provide flexible payment options, increase average order value and improve conversion rates. As Affirm will not charge late and hidden fees, it is expected to witness significant demand growth.
Per a recent Affirm research, more than 50% of people look for BNPL options while checking out. Liberty Travel and Affirm’s partnership is expected to cater to travelers’ needs for such a solution. As travel is expected to rise in the coming year, BNPL options are expected to increase the purchasing power of travelers. Increased active merchants, gross merchandise volume and transactions are aiding AFRM’s results.
Partnerships like this will aid the company in achieving its goal of reaching profitability in fiscal 2024 on an adjusted operating income basis. Also, the adjusted operating margin is expected to be more than 2% in fiscal 2024, indicating a significant improvement from the negative 4.6% witnessed in fiscal 2023.
Price Performance
Over the past year, shares of Affirm have surged 362.9% compared with the 24.2% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Affirm currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader Business Services space are FirstCash Holdings, Inc. FCFS, Shift4 Payments, Inc. FOUR and RB Global, Inc. RBA. While FirstCash and Shift4 Payments currently sport a Zacks Rank #1 (Strong Buy) each, RB Global carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FirstCash’s current-year bottom line indicates 13.1% year-over-year growth. Headquartered in Fort Worth, TX, FCFS beat earnings estimates in all the past four quarters, with an average surprise of 7.9%.
The Zacks Consensus Estimate for Shift4 Payments’ current-year earnings is pegged at $2.92 per share, which indicates 110.1% year-over-year growth. Allentown, PA-based FOUR beat earnings estimates in all the past four quarters, with an average surprise of 25%.
The Zacks Consensus Estimate for RB Global’s current-year bottom line suggests 15.4% year-over-year growth. Based in Westchester, IL, RBA beat earnings estimates in each of the past four quarters, with an average surprise of 18.9%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report
RB Global, Inc. (RBA) : Free Stock Analysis Report
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Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The deal enables Affirm to provide flexible payment options, like buy now pay later (BNPL), to consumers for travel bookings, which will boost its transaction volumes. The deal comes at an opportune time for AFRM as demand for flexible payment options in travel booking is rapidly increasing. The collaboration is expected to boost Liberty Travel sales, provide flexible payment options, increase average order value and improve conversion rates. | The collaboration is expected to boost Liberty Travel sales, provide flexible payment options, increase average order value and improve conversion rates. The Zacks Consensus Estimate for RB Global’s current-year bottom line suggests 15.4% year-over-year growth. Click to get this free report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report RB Global, Inc. (RBA) : Free Stock Analysis Report Shift4 Payments, Inc. (FOUR) : Free Stock Analysis Report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report To read this article on Zacks.com click here. | As travel is expected to rise in the coming year, BNPL options are expected to increase the purchasing power of travelers. Image Source: Zacks Investment Research Zacks Rank & Other Key Picks Affirm currently has a Zacks Rank #2 (Buy). Click to get this free report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report RB Global, Inc. (RBA) : Free Stock Analysis Report Shift4 Payments, Inc. (FOUR) : Free Stock Analysis Report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report To read this article on Zacks.com click here. | The latest move is expected to make Affirm’s payment options available at the checkout for qualifying Liberty Travel customers. As travel is expected to rise in the coming year, BNPL options are expected to increase the purchasing power of travelers. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 51fa4c39-a89b-4cd6-910e-75623ab57d57 |
710781.0 | 2023-12-16 00:00:00 UTC | TreeHouse Foods' (THS) Pricing & Operational Excellence Aid | DCOMP | https://www.nasdaq.com/articles/treehouse-foods-ths-pricing-operational-excellence-aid | nan | nan | TreeHouse Foods, Inc. THS is benefiting from its effective pricing strategies. The company saw a positive contribution from Price Net of Commodities in the third quarter of fiscal 2023 as it continued to recover from inflation.
The company concentrates on several strategies, including leading in popular product categories, strengthening customer relationships with private brand offerings, building a solid supply chain, focusing on efficient operations, attracting top talent, and being careful in financial management.
At the same time, THS prioritizes providing excellent service and high-quality products to not just meet but exceed customer expectations. These continuous efforts highlight TreeHouse Foods' strategy in the private brand marketplace.
Image Source: Zacks Investment Research
Pricing Acts as a Driver
In the fiscal third quarter, TreeHouse Foods experienced a 3.6% year-over-year increase in its top line to $863.3 million. This upside was primarily attributed to the company's effective pricing strategies. Notably, pricing rose 3.2% in the quarter, gearing toward mitigating commodity inflation.
Adjusted EBITDA from continuing operations saw a notable rise, reaching $89.9 million in the fiscal third quarter from $79.6 million in the prior-year quarter. This increase is largely credited to the success of TreeHouse Foods' pricing initiatives, setting a positive trajectory for sales benefits throughout 2023.
Strategic Portfolio Management
The company's focus on high-growth, high-margin categories and divestiture of non-core businesses shows strategic portfolio management aimed at enhancing profitability. The completion of the $61-million transaction, involving the sale of its Lakeville, MN-based facility and the Snack Bars division, is in line with the company's strategy to concentrate on sectors with the highest potential for growth.
TreeHouse Foods is on track to acquire the Bick's pickle brand in Canada for an estimated $20 million. This acquisition is anticipated to bolster the company's presence in the pickle market and extend its reach within Canada.
Scheduled for completion in the fourth quarter of fiscal 2023, this acquisition is expected to strengthen TreeHouse Foods' operational capabilities and build upon the existing co-packing arrangement with Bick's. The deal will introduce additional production volume, which is projected to have a positive impact on the company's profit margins.
Supply-Chain Initiatives Bode Well
Treehouse Foods' supply-chain initiatives aim to achieve $250 million in savings over three years, supporting long-term growth. Key strategies include implementing the Treehouse Management Operating System across manufacturing networks, improving overall equipment effectiveness, and optimizing logistics and distribution networks.
These measures have been contributing significantly to financial performance, with operations and supply-chain improvements adding $4 million year over year in the fiscal third quarter.
Driven by these factors, the company has outlined a comprehensive growth strategy for 2024-2027. THS’ objectives encompass achieving net sales growth of 3-5%, attaining adjusted EBITDA growth of 8-10% and generating a free cash flow in excess of $200 million.
Downward Outlook
Despite TreeHouse Foods' strategic focus on high-margin private-label snacking and beverage categories for 2023, there are some challenges ahead. The company revised its net sales outlook for fiscal 2023 downward in its fiscal third-quarter report.
For fiscal 2023, TreeHouse Foods expects year-over-year adjusted net sales growth of 4.5% to $3.4-$3.5 billion, down from previously stated growth of 7.5-9.5% to $3.71-$3.78 billion.
For the fourth quarter of fiscal 2023, revenues are projected to be $910-$940 million, implying a 3% year-over-year decline at the mid-point primarily due to an anticipated decline from a voluntary product recall and a specific supply-chain disruption.
Shares of this Zacks Rank #3 (Hold) company have lost 9.7% in the past three months compared with the industry’s decline of 0.9%.
3 Hot Stocks to Consider
We have highlighted three better-ranked stocks, namely MGP Ingredients, Inc. MGPI, Celsius Holdings CELH and The Kraft Heinz Company KHC.
MGP Ingredients produces and markets ingredients and distillery products to the packaged goods industry. The company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and EPS suggests growth of 6% and 14.2%, respectively, from the year-ago reported figures. MGPI has a trailing four-quarter earnings surprise of 16.2%, on average.
Celsius Holdings, which offers functional drinks and liquid supplements, currently carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.6% in the third quarter of 2023.
The Zacks Consensus Estimate for Celsius Holdings’ current financial-year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers. CELH has a trailing four-quarter earnings surprise of 110.9%, on average.
The Kraft Heinz Company is one of the largest consumer packaged food and beverage companies. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for The Kraft Heinz Company’s current financial-year sales and earnings suggests growth of 1% and 6.5%, respectively, from the year-ago reported numbers. KHC has a trailing four-quarter earnings surprise of 9.9%, on average.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report
Kraft Heinz Company (KHC) : Free Stock Analysis Report
MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report
Celsius Holdings Inc. (CELH) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The company concentrates on several strategies, including leading in popular product categories, strengthening customer relationships with private brand offerings, building a solid supply chain, focusing on efficient operations, attracting top talent, and being careful in financial management. Image Source: Zacks Investment Research Pricing Acts as a Driver In the fiscal third quarter, TreeHouse Foods experienced a 3.6% year-over-year increase in its top line to $863.3 million. The completion of the $61-million transaction, involving the sale of its Lakeville, MN-based facility and the Snack Bars division, is in line with the company's strategy to concentrate on sectors with the highest potential for growth. | The Zacks Consensus Estimate for Celsius Holdings’ current financial-year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers. The Zacks Consensus Estimate for The Kraft Heinz Company’s current financial-year sales and earnings suggests growth of 1% and 6.5%, respectively, from the year-ago reported numbers. Click to get this free report TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report Kraft Heinz Company (KHC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Pricing Acts as a Driver In the fiscal third quarter, TreeHouse Foods experienced a 3.6% year-over-year increase in its top line to $863.3 million. The Zacks Consensus Estimate for The Kraft Heinz Company’s current financial-year sales and earnings suggests growth of 1% and 6.5%, respectively, from the year-ago reported numbers. Click to get this free report TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report Kraft Heinz Company (KHC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here. | The company saw a positive contribution from Price Net of Commodities in the third quarter of fiscal 2023 as it continued to recover from inflation. 3 Hot Stocks to Consider We have highlighted three better-ranked stocks, namely MGP Ingredients, Inc. MGPI, Celsius Holdings CELH and The Kraft Heinz Company KHC. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 80595f5a-644b-48b6-88f6-d8a0186a2fa7 |
710782.0 | 2023-12-16 00:00:00 UTC | Dow Movers: UNH, NKE | DCOMP | https://www.nasdaq.com/articles/dow-movers%3A-unh-nke-1 | nan | nan | In early trading on Tuesday, shares of Nike topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. Year to date, Nike registers a 4.7% gain.
And the worst performing Dow component thus far on the day is UnitedHealth Group, trading down 0.6%. UnitedHealth Group is lower by about 1.2% looking at the year to date performance.
Two other components making moves today are International Business Machines, trading down 0.6%, and Boeing, trading up 0.9% on the day.
VIDEO: Dow Movers: UNH, NKE
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In early trading on Tuesday, shares of Nike topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. And the worst performing Dow component thus far on the day is UnitedHealth Group, trading down 0.6%. UnitedHealth Group is lower by about 1.2% looking at the year to date performance. | In early trading on Tuesday, shares of Nike topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. Year to date, Nike registers a 4.7% gain. And the worst performing Dow component thus far on the day is UnitedHealth Group, trading down 0.6%. | In early trading on Tuesday, shares of Nike topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. And the worst performing Dow component thus far on the day is UnitedHealth Group, trading down 0.6%. Two other components making moves today are International Business Machines, trading down 0.6%, and Boeing, trading up 0.9% on the day. | And the worst performing Dow component thus far on the day is UnitedHealth Group, trading down 0.6%. UnitedHealth Group is lower by about 1.2% looking at the year to date performance. VIDEO: Dow Movers: UNH, NKE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 6fd9ad71-0138-4e73-8681-0547219c1578 |
710783.0 | 2023-12-16 00:00:00 UTC | Alaska Airlines (ALK) Launches Nine New Routes This Winter | DCOMP | https://www.nasdaq.com/articles/alaska-airlines-alk-launches-nine-new-routes-this-winter | nan | nan | To expand international travel, Alaska Air Group, Inc. ALK announced that it is launching nine new non-stop routes to grab the popular leisure destinations this winter. New routes include flights to the Bahamas and Guatemala. A new service has also started between Las Vegas and two cities in Mexico. Also, a seasonal flight has begun connecting Palm Springs and New York City.
Kirsten Amrine, vice president of revenue management and network planning for Alaska Airlines, stated, “We're also now flying our guests to countries we've never served before as we increase our international service. The Bahamas off the coast of South Florida offer pristine islands and turquoise waters, and Guatemala in Central America excites with adventure, history and culture.”
New routes have been functional since Dec 14, 2023. All the routes will continue operating till Apr 15, 2024, except flights connecting Los Angeles with Guatemala City and Nassau (functional throughout the year).
Such lucrative steps of adding new routes are expected to attract more traffic and boost the top line.
Zacks Rank
Alaska Airlines carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | To expand international travel, Alaska Air Group, Inc. ALK announced that it is launching nine new non-stop routes to grab the popular leisure destinations this winter. Kirsten Amrine, vice president of revenue management and network planning for Alaska Airlines, stated, “We're also now flying our guests to countries we've never served before as we increase our international service. The Bahamas off the coast of South Florida offer pristine islands and turquoise waters, and Guatemala in Central America excites with adventure, history and culture.” | To expand international travel, Alaska Air Group, Inc. ALK announced that it is launching nine new non-stop routes to grab the popular leisure destinations this winter. Zacks Rank Alaska Airlines carries a Zacks Rank #3 (Hold). Click to get this free report Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. | All the routes will continue operating till Apr 15, 2024, except flights connecting Los Angeles with Guatemala City and Nassau (functional throughout the year). Zacks Rank Alaska Airlines carries a Zacks Rank #3 (Hold). Click to get this free report Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. | New routes include flights to the Bahamas and Guatemala. Air Canada currently sports a Zacks Rank #1 (Strong Buy). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | de44f91e-8c81-4e45-b908-a8037c0d8658 |
710784.0 | 2023-12-16 00:00:00 UTC | Green Dot (GDOT) Rises 17% in a Month: Here's What to Know | DCOMP | https://www.nasdaq.com/articles/green-dot-gdot-rises-17-in-a-month%3A-heres-what-to-know | nan | nan | Green Dot Corporation GDOT has had an impressive run over the past month. The stock has gained 17.1%, significantly outperforming the 4.6% rise of the industry it belongs to and the 3.4% rally of the Zacks S&P 500 composite.
Factors That Augur Well
Green Dot remains focused on ensuring the long-term growth of its businesses. The company’s efforts toward the acquisition of long-term users of its products, improving brands and image, building market adoption and awareness of products, and increasing card usage and customer retention have been positive. Its sales and marketing efforts remain focused on a broad group, ranging from never-banked to fully-banked consumers.
Green Dot Corporation Price
Green Dot Corporation price | Green Dot Corporation Quote
Green Dot is expanding its addressable market with the help of its BaaS account programs. The company partnered with some top consumer and technology companies, including Amazon and Apple, to design and develop their fintech banking solutions through its BaaS platform. These solutions are then made available by these companies to their consumers and partners again through integration with the program, eventually expanding the company’s spectrum of consumers.
Green Dot’s long-standing relationship with Walmartremains a key driver of its operating revenues. It designs and delivers Walmart MoneyCard products and provides program support that includes network IT, website functionality, regulatory and legal compliance, customer service and loss management. It also sells certain Walmart-branded open-loop gift cards. Walmart provides Green Dot with shelf space to offer Green Dot-branded and GoBank checking account products.
The company’s operating revenues derived from products and services offered through Walmart represented 21%, 24% and 27% of total operating revenues for 2022, 2021 and 2020, respectively.
Zacks Rank and Stocks to Consider
Green Dot currently carries a Zacks Rank #3 (Hold).
Investors can consider the following better-ranked stocks:
Rollins ROL currently carries a Zacks Rank #2 (Buy). For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents, indicating year-over-year growth of 17.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%.
FTI Consulting FCN also carries a Zacks Rank #2 at present. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
FTI Consulting, Inc. (FCN) : Free Stock Analysis Report
Green Dot Corporation (GDOT) : Free Stock Analysis Report
Rollins, Inc. (ROL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It designs and delivers Walmart MoneyCard products and provides program support that includes network IT, website functionality, regulatory and legal compliance, customer service and loss management. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | Green Dot Corporation Price Green Dot Corporation price | Green Dot Corporation Quote Green Dot is expanding its addressable market with the help of its BaaS account programs. ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%. Click to get this free report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Green Dot Corporation (GDOT) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Green Dot Corporation Price Green Dot Corporation price | Green Dot Corporation Quote Green Dot is expanding its addressable market with the help of its BaaS account programs. Zacks Rank and Stocks to Consider Green Dot currently carries a Zacks Rank #3 (Hold). Click to get this free report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Green Dot Corporation (GDOT) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Green Dot Corporation Price Green Dot Corporation price | Green Dot Corporation Quote Green Dot is expanding its addressable market with the help of its BaaS account programs. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Green Dot Corporation (GDOT) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here. | b56ff289-5e3e-402b-a67c-e16524382eb5 |
710785.0 | 2023-12-16 00:00:00 UTC | Pfizer (PFE) Stock Rises on FDA Nod for Expanded Use of Padcev | DCOMP | https://www.nasdaq.com/articles/pfizer-pfe-stock-rises-on-fda-nod-for-expanded-use-of-padcev | nan | nan | Pfizer’s PFE shares were up around 1.6% on Monday after the FDA approved the expanded use of Padcev, an antibody-drug conjugate (ADC) added from its recently closed acquisition of Seagen.
The FDA approved Padcev in combination with Merck’s MRK Keytruda for the treatment of adult patients with locally advanced or metastatic urothelial cancer (la/mUC). This marked the first approval for a combination of an ADC product plus PD-L1 inhibitor for the treatment of advanced bladder cancer, offering an alternative to platinum-containing chemotherapy, the current standard of care in first-line la/mUC, for years.
Antibody-drug conjugates are considered a disruptive innovation in the pharmaceutical industry as these are expected to enable better treatment of cancer by harnessing the targeting power of antibodies to deliver cytotoxic molecule drugs to tumors. These are poised to replace chemotherapy in many tumor types.
The approval was based on data from the phase III EV-302 (also known as KEYNOTE-A39) study. Data from the study showed that Padcev plus Keytruda nearly doubled the median overall survival (OS) and median progression-free survival (PFS) in the abovementioned advanced bladder cancer patient group compared to platinum-containing chemotherapy. Treatment with the combination led to a 53% reduction in the risk of death (OS) and a 55% reduction in the risk of cancer progression or death (PFS). Pfizer believes the survival benefit seen in the study shows the potential of Padcev plus Keytruda for the first-line treatment of patients with la/mUC.
At present, Padcev, in combination with Keytruda, is approved, on an accelerated basis, for treating la/mUC in adult patients who are not eligible to receive cisplatin-containing chemotherapy. The EV-302 study was the confirmatory study for converting this accelerated approval to full approval. With the latest approval, Padcev in combination with Keytruda is eligible for expanded use in patients with la/mUC who are eligible to receive cisplatin chemotherapy.
Pfizer’s stock has declined 47.3% so far this year against an increase of 3.9% for the industry.
Image Source: Zacks Investment Research
Pfizer’s acquisition of Seagen closed on Dec 14. Pfizer had offered to buy cancer drugmaker Seagen for approximately $43 billion in March. Seagen’s acquisition has strengthened Pfizer’s portfolio of cancer drugs by adding a class of ADCs. Seagen is a pioneer in ADC technology. Seagen currently markets four cancer drugs — Adcetris, Padcev, Tukysa and Tivdak. Pfizer expects the acquisition to double the size of its early-stage oncology pipeline over the long term. In 2024, Pfizer expects revenues of $3.1 billion from Seagen.
Zacks Rank & Stocks to Consider
Pfizer currently has a Zacks Rank #3 (Hold).
Some better-ranked drug/biotech companies worth considering are Novo Nordisk NVO and Puma Biotech PBYI, sporting a Zacks Rank #1 (Strong Buy) each currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.57 to $2.61 over the past 60 days. Estimates for 2024 have jumped from $2.99 per share to $3.10 over the same timeframe. NVO’s stock has surged 46.3% year to date.
Earnings of Novo Nordisk beat estimates in two of the last four quarters, missed in one and matched estimates in one, delivering an earnings surprise of 0.58% on average.
Estimates for Puma Biotech’s 2023 earnings per share have increased from 67 cents to 72 cents over the past 60 days. Estimates for 2024 have jumped from 56 cents per share to 64 cents over the same timeframe. PBYI’s stock has declined 6.7% year to date.
Earnings of Puma Biotech beat estimates in three of the last four quarters and missed in one, delivering an earnings surprise of 76.55% on average.
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Pfizer Inc. (PFE) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Merck & Co., Inc. (MRK) : Free Stock Analysis Report
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Pfizer’s PFE shares were up around 1.6% on Monday after the FDA approved the expanded use of Padcev, an antibody-drug conjugate (ADC) added from its recently closed acquisition of Seagen. This marked the first approval for a combination of an ADC product plus PD-L1 inhibitor for the treatment of advanced bladder cancer, offering an alternative to platinum-containing chemotherapy, the current standard of care in first-line la/mUC, for years. Antibody-drug conjugates are considered a disruptive innovation in the pharmaceutical industry as these are expected to enable better treatment of cancer by harnessing the targeting power of antibodies to deliver cytotoxic molecule drugs to tumors. | Pfizer’s PFE shares were up around 1.6% on Monday after the FDA approved the expanded use of Padcev, an antibody-drug conjugate (ADC) added from its recently closed acquisition of Seagen. Data from the study showed that Padcev plus Keytruda nearly doubled the median overall survival (OS) and median progression-free survival (PFS) in the abovementioned advanced bladder cancer patient group compared to platinum-containing chemotherapy. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report To read this article on Zacks.com click here. | Pfizer’s PFE shares were up around 1.6% on Monday after the FDA approved the expanded use of Padcev, an antibody-drug conjugate (ADC) added from its recently closed acquisition of Seagen. Data from the study showed that Padcev plus Keytruda nearly doubled the median overall survival (OS) and median progression-free survival (PFS) in the abovementioned advanced bladder cancer patient group compared to platinum-containing chemotherapy. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report To read this article on Zacks.com click here. | Seagen’s acquisition has strengthened Pfizer’s portfolio of cancer drugs by adding a class of ADCs. Some better-ranked drug/biotech companies worth considering are Novo Nordisk NVO and Puma Biotech PBYI, sporting a Zacks Rank #1 (Strong Buy) each currently. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | b0f4740e-f977-41cb-9712-01d37e91899b |
710786.0 | 2023-12-16 00:00:00 UTC | 4 Health Insurers Likely to Maintain Winning Streak in 2024 | DCOMP | https://www.nasdaq.com/articles/4-health-insurers-likely-to-maintain-winning-streak-in-2024 | nan | nan | The U.S. health insurance industry, referred to as Health Maintenance Organization (HMO), benefited from contract wins, an expanding membership base and an aging U.S. population this year. However, Medicaid eligibility redeterminations, continued staffing shortage and inflationary headwinds put pressure on the performance of the industry players.
The Zacks Medical-HMO industry has gained 14.2% in the past six months compared with the S&P 500’s rally of 6.3%. The Medical sector has declined 4.6% in the same time frame.
The HMO industry participants are direct beneficiaries of growing health insurance premiums. Apart from affordability, health insurers infuse attractive features within their plans to expand their reach across U.S. communities. The lucrativeness of the plans often fetches federal or state contracts for industry players, thereby boosting membership growth.
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The industry participants resorted to mergers and acquisitions (M&As) in 2023 to upgrade their capabilities and achieve diversification benefits, which are necessary to gain a competitive edge over industry peers. They also welcomed digitization with open arms and made investments in technology to include telehealth services.
However, the announcement made by a UnitedHealth Group UNH official this June about the resumption of elective procedures acted as a headwind to the price performance of health insurers in the first half of 2023. Soon after the announcement, shares of major health insurers like UNH, Humana Inc. HUM, Centene Corporation CNC and Molina Healthcare MOH witnessed a decline.
Though the industry challenges persist, stocks such as UNH, HUM, CNC and MOH seem to have recovered in the second half of 2023.
Outline for 2024
A growing customer base, attributable to lucrative plan features, is expected to drive premiums in 2024, the most significant contributor to a health insurer’s top line. An aging U.S. population is likely to sustain the solid demand for Medicare plans (meant for 65 years and above) in the days ahead.
Owing to the convenience and affordability that telehealth services provide, the related platforms are expected to fetch a steady flow of revenues next year.
An increase in elective surgeries, which had been delayed due to the pandemic, will increase medical costs for health insurers in 2024. Additionally, the HMO industry has been suffering from an acute shortage of nurses and other medical personnel for quite some time. This can dampen a hospital’s ability to deliver quality care services to health insurers’ plan members and adversely impact their customer base in the days ahead.
The commencement of the Medicaid redetermination process from Apr 1, 2023 has been putting pressure on commercial enrollment growth and the trend is likely to continue in 2024 as well. Molina Healthcare expects to lose around 60% of the 800,000 Medicaid members it gained since the beginning of the pandemic. Nevertheless, a well-diversified portfolio should enable health insurers to cope with the loss of membership.
4 Stocks to Watch
Here, we have picked four HMO stocks that carry either a Zacks Rank #2 (Buy) or a Zacks Rank #3 (Hold) and have the potential to retain their purple patch going forward. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth Group: Headquartered in Minnesota, this health insurer is likely to benefit from solid contributions from its UnitedHealthcare and Optum businesses in 2024. The UnitedHealthcare unit devises lucrative Medicare and Medicaid plans and upgrades them from time to time. Management estimates overall revenues to be within $400-$403 billion in 2024. A strong financial position provides a cushion for UNH to pursue an active M&A strategy.
UnitedHealth Group’s earnings surpassed estimates in each of the last four quarters, the average surprise being 2.74%. The Zacks Consensus Estimate for UNH’s 2024 earnings is pegged at $27.88 per share, which indicates an improvement of 11.8% from the 2023 estimate. UNH currently carries a Zacks Rank #3. Its shares have gained 12.2% in the past six months.
Humana: Based in Kentucky, Humana gains on the back of an expanding customer base and the resultant benefit of higher premiums. An aging U.S. population is likely to sustain the solid demand for Humana's Medicare plans. In 2024, Humana aims to introduce its Medicare Advantage plans across 39 U.S. counties. In order to cater to the aging population effectively, HUM has the CenterWell brand in place.
The Zacks Consensus Estimate for Humana’s 2024 earnings is pegged at $31.42 per share, indicating a 11.1% improvement from the 2023 estimate. HUM’s earnings surpassed estimates in each of the last four quarters, the average being 5.47%. HUM currently carries a Zacks Rank #3. Its shares have gained 3% in the past six months.
Centene: Based in Missouri, Centene is aided by strength in its Medicaid and Medicare businesses that may fetch contract wins and lead to membership growth in the year ahead. U.S. states like Louisiana, Indiana and Missouri, among others, awarded Centene Medicaid contracts in 2023. CNC follows an inorganic growth route in the form of acquisitions and provider collaborations, which, in turn, bolster its capabilities, diversify its portfolio and solidify its nationwide presence.
The Zacks Consensus Estimate for Centene’s 2024 earnings is pegged at $6.70 per share, which suggests a 0.6% rise from the 2023 estimate. CNC’s earnings outpaced estimates in two of the last four quarters and missed the mark twice, the average being 5.62%. CNC currently carries a Zacks Rank #2. Its shares have gained 13.4% in the past six months.
Molina Healthcare: This California-based health insurer gains from an expanding customer base and higher premium revenues, which it earns through distributing Medicare and Medicaid plans across different U.S. communities. These plans fetch numerous contract wins and are likely to contribute to premium growth. A series of acquisitions undertaken over the years has upgraded its capabilities and diversified revenue streams.
Molina Healthcare’s earnings surpassed estimates in each of the last four quarters, the average surprise being 7.46%. The Zacks Consensus Estimate for MOH’s 2024 earnings is pegged at $23.76 per share, which indicates an improvement of 14.1% from the 2023 estimate. MOH currently carries a Zacks Rank #3. Its shares have gained 31.3% in the past six months.
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UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report
Humana Inc. (HUM) : Free Stock Analysis Report
Molina Healthcare, Inc (MOH) : Free Stock Analysis Report
Centene Corporation (CNC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Outline for 2024 A growing customer base, attributable to lucrative plan features, is expected to drive premiums in 2024, the most significant contributor to a health insurer’s top line. This can dampen a hospital’s ability to deliver quality care services to health insurers’ plan members and adversely impact their customer base in the days ahead. Molina Healthcare: This California-based health insurer gains from an expanding customer base and higher premium revenues, which it earns through distributing Medicare and Medicaid plans across different U.S. communities. | Soon after the announcement, shares of major health insurers like UNH, Humana Inc. HUM, Centene Corporation CNC and Molina Healthcare MOH witnessed a decline. Molina Healthcare: This California-based health insurer gains from an expanding customer base and higher premium revenues, which it earns through distributing Medicare and Medicaid plans across different U.S. communities. Click to get this free report UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report Humana Inc. (HUM) : Free Stock Analysis Report Molina Healthcare, Inc (MOH) : Free Stock Analysis Report Centene Corporation (CNC) : Free Stock Analysis Report To read this article on Zacks.com click here. | 4 Stocks to Watch Here, we have picked four HMO stocks that carry either a Zacks Rank #2 (Buy) or a Zacks Rank #3 (Hold) and have the potential to retain their purple patch going forward. Molina Healthcare: This California-based health insurer gains from an expanding customer base and higher premium revenues, which it earns through distributing Medicare and Medicaid plans across different U.S. communities. Click to get this free report UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report Humana Inc. (HUM) : Free Stock Analysis Report Molina Healthcare, Inc (MOH) : Free Stock Analysis Report Centene Corporation (CNC) : Free Stock Analysis Report To read this article on Zacks.com click here. | The U.S. health insurance industry, referred to as Health Maintenance Organization (HMO), benefited from contract wins, an expanding membership base and an aging U.S. population this year. Soon after the announcement, shares of major health insurers like UNH, Humana Inc. HUM, Centene Corporation CNC and Molina Healthcare MOH witnessed a decline. Molina Healthcare: This California-based health insurer gains from an expanding customer base and higher premium revenues, which it earns through distributing Medicare and Medicaid plans across different U.S. communities. | 5d4ff5f5-0266-4fcc-b741-dcb8bae829bc |
710787.0 | 2023-12-16 00:00:00 UTC | Italian fund F2i ready to raise 1 bln euros to invest in TIM's grid-source | DCOMP | https://www.nasdaq.com/articles/italian-fund-f2i-ready-to-raise-1-bln-euros-to-invest-in-tims-grid-source | nan | nan | MILAN, Dec 19 (Reuters) - Italian infrastructure fund F2i is ready to set up a vehicle to invest about 1 billion euros ($1.1 billion) alongside U.S.fund KKR KKR.N in Telecom Italia's (TIM) TLIT.MI landline grid, a source with knowledge of the matter said on Tuesday.
F2i is set to give its formal approval on Wednesday to the vehicle and will ask a group of investors, including several Italian professional social security funds as well as banking foundations, to confirm their commitment before the end of the year, the source said.
Last month TIM agreed to sell the former phone monopoly's most valuable asset to U.S. fund KKR KKR.N as part of a plan championed by Chief Executive Pietro Labriola to revive the group and slash its debt pile.
The deal has been endorsed by Prime Minister Giorgia Meloni's administration, which authorised the Treasury to take a 20% stake in the grid for up to 2.2 billion euros to oversee an asset deemed as strategic.
F2i is expected to control a stake of about 10% in the network venture, the source said, bringing the holding in Italian hands to around 30%.
($1 = 0.9114 euros)
(Reporting by Elvira Pollina Editing by Keith Weir)
((elvira.pollina@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | F2i is set to give its formal approval on Wednesday to the vehicle and will ask a group of investors, including several Italian professional social security funds as well as banking foundations, to confirm their commitment before the end of the year, the source said. Last month TIM agreed to sell the former phone monopoly's most valuable asset to U.S. fund KKR KKR.N as part of a plan championed by Chief Executive Pietro Labriola to revive the group and slash its debt pile. The deal has been endorsed by Prime Minister Giorgia Meloni's administration, which authorised the Treasury to take a 20% stake in the grid for up to 2.2 billion euros to oversee an asset deemed as strategic. | MILAN, Dec 19 (Reuters) - Italian infrastructure fund F2i is ready to set up a vehicle to invest about 1 billion euros ($1.1 billion) alongside U.S.fund KKR KKR.N in Telecom Italia's (TIM) TLIT.MI landline grid, a source with knowledge of the matter said on Tuesday. Last month TIM agreed to sell the former phone monopoly's most valuable asset to U.S. fund KKR KKR.N as part of a plan championed by Chief Executive Pietro Labriola to revive the group and slash its debt pile. The deal has been endorsed by Prime Minister Giorgia Meloni's administration, which authorised the Treasury to take a 20% stake in the grid for up to 2.2 billion euros to oversee an asset deemed as strategic. | MILAN, Dec 19 (Reuters) - Italian infrastructure fund F2i is ready to set up a vehicle to invest about 1 billion euros ($1.1 billion) alongside U.S.fund KKR KKR.N in Telecom Italia's (TIM) TLIT.MI landline grid, a source with knowledge of the matter said on Tuesday. F2i is set to give its formal approval on Wednesday to the vehicle and will ask a group of investors, including several Italian professional social security funds as well as banking foundations, to confirm their commitment before the end of the year, the source said. Last month TIM agreed to sell the former phone monopoly's most valuable asset to U.S. fund KKR KKR.N as part of a plan championed by Chief Executive Pietro Labriola to revive the group and slash its debt pile. | MILAN, Dec 19 (Reuters) - Italian infrastructure fund F2i is ready to set up a vehicle to invest about 1 billion euros ($1.1 billion) alongside U.S.fund KKR KKR.N in Telecom Italia's (TIM) TLIT.MI landline grid, a source with knowledge of the matter said on Tuesday. F2i is set to give its formal approval on Wednesday to the vehicle and will ask a group of investors, including several Italian professional social security funds as well as banking foundations, to confirm their commitment before the end of the year, the source said. Last month TIM agreed to sell the former phone monopoly's most valuable asset to U.S. fund KKR KKR.N as part of a plan championed by Chief Executive Pietro Labriola to revive the group and slash its debt pile. | bd8fc771-eab1-4a2b-9688-cb0df25d3196 |
710788.0 | 2023-12-16 00:00:00 UTC | Merck (MRK) Gets EU Nod for Expanded Use in Gastric Cancer | DCOMP | https://www.nasdaq.com/articles/merck-mrk-gets-eu-nod-for-expanded-use-in-gastric-cancer | nan | nan | Merck MRK announced that the European Commission (EC) approved its blockbuster drug Keytruda for two new indications in gastrointestinal cancers.
The EC approved Keytruda, combined with fluoropyrimidine- and platinum-containing chemotherapy, for first-line treatment of adult patients with locally advanced unresectable or metastatic HER2-negative gastric or gastroesophageal junction (GEJ) adenocarcinoma.
The EC also approved Keytruda, combined with gemcitabine and cisplatin, for the first-line treatment of adult patients with locally advanced unresectable or metastatic biliary tract carcinoma (BTC).
These approvals were expected as the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending Keytruda’s approval in the indications in the past two months.
The EC and CHMP decisions on the GEJ and BTC indications are based on data from the phase III KEYNOTE-859 and KEYNOTE-966 studies, respectively. Data from respective studies show that patients treated with the Keytruda combination demonstrated a statistically significant improvement in overall survival compared with patients who only received chemotherapy.
Following these approvals, a combination therapy involving Keytruda will be available to patients with HER2-negative and HER2-positive advanced gastric or GEJ adenocarcinoma. The approvals mark the sixth and seventh indications for Keytruda in gastrointestinal cancers in the European Union. Overall, Keytruda is approved for 26 indications in the region.
Last month, Merck announced that the FDA approved Keytruda in the indications mentioned above.
Merck’s shares have lost 4.4% year to date against the industry’s 3.9% growth.
Image Source: Zacks Investment Research
An anti-PD-1 therapy, Keytruda is Merck’s blockbuster oncology drug approved for several types of cancer, contributing around 46% to total revenues in the first nine months of 2023. Merck continue to boost Keytruda across new indications and markets globally. Sales of the drug are gaining from continued strong momentum in metastatic indications and rapid uptake across recent earlier-stage launches.
Merck is evaluating Keytruda across many indications that are progressing well. Keytruda is being studied for more than 30 types of cancer indications in more than 1600 studies, including combination studies. If approved, label expansions for new cancer indications can further boost sales.
Merck & Co., Inc. Price
Merck & Co., Inc. price | Merck & Co., Inc. Quote
Zacks Rank & Stocks to Consider
Merck currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include Galapagos GLPG, Novo Nordisk NVO and Ocuphire Pharma OCUP. While Galapagos and Ocuphire Pharma sport a Zacks Rank #1 (Strong Buy) at present, Novo Nordisk carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, Galapagos’ estimates for 2023 have improved from a loss of $1.96 per share to 79 cents. During the same period, loss estimates per share for 2024 have narrowed from $3.22 to $1.68. Galapagos’ shares have lost 11.5% in the year-to-date period.
Galapagos’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 91.97%. In the last reported quarter, Galapagos’ earnings beat estimates by 140.78%.
In the past 60 days, Ocuphire’s estimates for 2023 have improved from a loss of 60 cents per share to 42 cents. During the same period, loss estimates per share for 2024 have narrowed from 85 cents to 57 cents. Ocuphire’s shares have lost 26.1% in the year-to-date period.
Ocuphire’s earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an earnings surprise of 59.28%. In the last reported quarter, Ocuphire’s earnings beat estimates by 178.13%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.61. During the same period, the earnings estimates for 2024 have risen from $2.95 to $3.10. Shares of NVO have surged 46.3% in the year-to-date period.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 5.80%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Merck & Co., Inc. (MRK) : Free Stock Analysis Report
Galapagos NV (GLPG) : Free Stock Analysis Report
Ocuphire Pharma, Inc. (OCUP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The EC approved Keytruda, combined with fluoropyrimidine- and platinum-containing chemotherapy, for first-line treatment of adult patients with locally advanced unresectable or metastatic HER2-negative gastric or gastroesophageal junction (GEJ) adenocarcinoma. The EC also approved Keytruda, combined with gemcitabine and cisplatin, for the first-line treatment of adult patients with locally advanced unresectable or metastatic biliary tract carcinoma (BTC). Image Source: Zacks Investment Research An anti-PD-1 therapy, Keytruda is Merck’s blockbuster oncology drug approved for several types of cancer, contributing around 46% to total revenues in the first nine months of 2023. | Some better-ranked stocks in the overall healthcare sector include Galapagos GLPG, Novo Nordisk NVO and Ocuphire Pharma OCUP. While Galapagos and Ocuphire Pharma sport a Zacks Rank #1 (Strong Buy) at present, Novo Nordisk carries a Zacks Rank #2 (Buy). Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Galapagos NV (GLPG) : Free Stock Analysis Report Ocuphire Pharma, Inc. (OCUP) : Free Stock Analysis Report To read this article on Zacks.com click here. | Merck & Co., Inc. Price Merck & Co., Inc. price | Merck & Co., Inc. Quote Zacks Rank & Stocks to Consider Merck currently carries a Zacks Rank #3 (Hold). Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Galapagos NV (GLPG) : Free Stock Analysis Report Ocuphire Pharma, Inc. (OCUP) : Free Stock Analysis Report To read this article on Zacks.com click here. | Merck MRK announced that the European Commission (EC) approved its blockbuster drug Keytruda for two new indications in gastrointestinal cancers. In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.61. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 0a9e8fa8-97ee-4a65-a6a1-fda41f336a6a |
710789.0 | 2023-12-16 00:00:00 UTC | Align's (ALGN) Invisalign Palatal Expander System Gets FDA Nod | DCOMP | https://www.nasdaq.com/articles/aligns-algn-invisalign-palatal-expander-system-gets-fda-nod | nan | nan | Align Technology, Inc. ALGN announced the FDA clearance for Align’s Invisalign Palatal Expander System for commercial availability in the United States. The FDA 510(k) clearance is for broad patient applicability, including growing children, teens and adults (with surgery or other techniques).
The Invisalign Palatal Expander System is only accessible in Canada and the United States on a limited basis. It is likely to be offered in other areas beginning in 2024, subject to regulatory approvals.
More on Invisalign Palatal Expander System
The Invisalign Palatal Expander System, previously announced at the Align Technology Investor Day in September 2023, is a modern and unique direct 3D printed device based on proprietary and patented technology.
The Invisalign Palatal Expander is Align's first direct 3D printed orthodontic device, and it offers a safe, pleasant, and clinically effective alternative to traditional palatal expanders, which need the patient to physically spin a screw in the device in the mouth every day to accomplish expansion.
Invisalign Palatal Expanders, when combined with Invisalign FirstTM aligners, provide clinicians with a complete early intervention treatment solution for Phase 1 therapy, an early interceptive orthodontic treatment for young patients.
Benefits of Invisalign Palatal Expander System
The most recent advancement in digital orthodontics is the Invisalign Palatal Expander System, which is built on patented and proprietary technology. It is intended for treating children and teenagers, such as Invisalign First aligners and Mandibular Advancement treatment.
Image Source: Zacks Investment Research
With the Invisalign Palatal Expanders, a patient's narrow maxilla can be expanded to a position specified by their treating physician through a succession of detachable devices that are staged in tiny movement increments. Utilizing an iTeroTM intraoral digital scan, each direct 3D printed device is tailored to the specific anatomy of the patient.
Physicians can address the most common skeletal and dental malocclusions in growing children with the use of Invisalign Palatal Expanders in conjunction with Invisalign First aligners. When it comes to addressing skeletal and dental imbalances, jaw correction and bite correction for their growing teenage patients, doctors now have additional alternatives thanks to the mandibular advancement capabilities included in Invisalign aligners.
Industry Prospects
Per a report by Precedence Research, the global orthodontics market size was valued at USD 16.90 billion in 2022 and is expected to reach more than $53.78 billion by 2032 and poised to witness a CAGR of 12.3% from 2023 to 2032. The market is primarily driven by the growing prevalence of malocclusion, rising awareness regarding dental problems, technological advancements in orthodontic treatments and a surging number of dentists across the globe.
Progress Within Invisalign Portfolio
In the third quarter of 2023, the company successfully continued to roll out the Invisalign Comprehensive Three and Three product in APAC, where it is now available in China, Hong Kong, Korea, Taiwan and India. Instead of unlimited additional aligners within five years of the treatment end date, the latest configuration offers Invisalign comprehensive treatment with three additional aligners included within three years of the treatment end date.
Align Technology also launched the Invisalign Palatal Expander System, an advanced direct 3D printed device based on a proprietary and patented technology.
Price Performance
In the past year, ALGN’s shares have gained 30.4% compared with the industry’s rise of 10.9%.
Zacks Rank and Key Picks
Align Technology currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ shares have increased 11.6% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. The stock has fallen 7.8% in the past year compared with the industry’s decline of 7.1%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Align Technology, Inc. (ALGN) : Free Stock Analysis Report
Haemonetics Corporation (HAE) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Utilizing an iTeroTM intraoral digital scan, each direct 3D printed device is tailored to the specific anatomy of the patient. The market is primarily driven by the growing prevalence of malocclusion, rising awareness regarding dental problems, technological advancements in orthodontic treatments and a surging number of dentists across the globe. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | Instead of unlimited additional aligners within five years of the treatment end date, the latest configuration offers Invisalign comprehensive treatment with three additional aligners included within three years of the treatment end date. Align Technology also launched the Invisalign Palatal Expander System, an advanced direct 3D printed device based on a proprietary and patented technology. Click to get this free report Align Technology, Inc. (ALGN) : Free Stock Analysis Report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report To read this article on Zacks.com click here. | More on Invisalign Palatal Expander System The Invisalign Palatal Expander System, previously announced at the Align Technology Investor Day in September 2023, is a modern and unique direct 3D printed device based on proprietary and patented technology. The Invisalign Palatal Expander is Align's first direct 3D printed orthodontic device, and it offers a safe, pleasant, and clinically effective alternative to traditional palatal expanders, which need the patient to physically spin a screw in the device in the mouth every day to accomplish expansion. Click to get this free report Align Technology, Inc. (ALGN) : Free Stock Analysis Report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Physicians can address the most common skeletal and dental malocclusions in growing children with the use of Invisalign Palatal Expanders in conjunction with Invisalign First aligners. Align Technology also launched the Invisalign Palatal Expander System, an advanced direct 3D printed device based on a proprietary and patented technology. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 81602722-5276-4fd6-8d63-b6681c7998eb |
710790.0 | 2023-12-16 00:00:00 UTC | Choice Hotels (CHH) Boosts Extended Stay Line-up With New Hotel | DCOMP | https://www.nasdaq.com/articles/choice-hotels-chh-boosts-extended-stay-line-up-with-new-hotel-0 | nan | nan | Choice Hotels International, Inc. CHH recently announced the opening of its Suburban Studios hotel in Bloomington, MN. This marks the company’s 100th hotel opening.
Suburban Studios caters to the needs of long-term travelers by offering spacious rooms, in-room kitchens, contemporary design, discounted rates for longer stays and flexible booking options. It also provides state-of-the-art cloud-based solutions and learning resources to maximize success from the initial stages of opening and beyond.
Ron Burgett, senior vice president of extended stay development at Choice Hotels, expressed excitement about reaching this milestone and highlighted the brand's innovative approach that combines swift conversions with a robust business strategy.
Converting preexisting properties into Suburban Studios within a rapid three- to four-month period has played a crucial role in the brand's success. This strategy is in sync with the growing need for extended-stay lodgings, an area where Choice Hotels has taken the lead, effectively leveraging opportunities for conversions.
A key factor in this success has been Choice Hotels' introduction of the "Kitchen in a Box," an adaptable kitchen design package tailored for Suburban Studios. This modular approach has attracted developers, with a majority adopting this system to enter the extended-stay market. As of Sep 30, 2023, the domestic extended-stay pipeline increased 12% year over year to more than 47,000 rooms.
Despite challenges like higher interest rates, CHH remains optimistic about its pipeline of extended-stay projects. The growth in extended-stay hotel openings and a robust domestic pipeline underline the appeal and strength of the firm’s extended-stay platform.
Price Performance
Image Source: Zacks Investment Research
In the past six months, shares of Choice Hotels have gained 0.7% compared with the industry’s 17% growth.
A volatile macroeconomic environment primarily caused the downside. The company believes that if inflation rates rise moderately, it will likely lead to comparable or even higher increases in hotel room rates. CHH is monitoring future inflation trends and assessing any potential impacts.
Nevertheless, the company is optimistic about synergies through the Radisson Hotels Americas integration and momentum in the pipeline of conversion projects. Also, the focus on continual expansion strategies through acquisitions and franchise agreements bodes well.
Going forward, the company will focus on expansion strategies, enhancement of the mid-scale brands and transformation and advancement of the Comfort brands to drive growth. Earnings estimates for 2024 have increased in the past 30 days, depicting analyst optimism regarding the stock’s growth potential.
Zacks Rank & Key Picks
Choice Hotels currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector include:
Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 28.3%, on average. Shares of RCL have surged 138% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates a rise of 13.7% and 38.1%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. LYV flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5%, on average. Shares of LYV have increased 35.8% in the past year.
The Zacks Consensus Estimate for LYV’s 2024 sales and EPS indicates a rise of 8.2% and 61.1%, respectively, from the year-ago period’s levels.
JAKKS Pacific, Inc. JAKK sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 61.8%, on average. Shares of JAKK have increased 127.9% in the past year.
The Zacks Consensus Estimate for JAKK’s 2024 sales indicates a rise of 3.6% from the year-ago period’s levels.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report
Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Suburban Studios caters to the needs of long-term travelers by offering spacious rooms, in-room kitchens, contemporary design, discounted rates for longer stays and flexible booking options. Ron Burgett, senior vice president of extended stay development at Choice Hotels, expressed excitement about reaching this milestone and highlighted the brand's innovative approach that combines swift conversions with a robust business strategy. Converting preexisting properties into Suburban Studios within a rapid three- to four-month period has played a crucial role in the brand's success. | Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). JAKKS Pacific, Inc. JAKK sports a Zacks Rank #1. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research In the past six months, shares of Choice Hotels have gained 0.7% compared with the industry’s 17% growth. Zacks Rank & Key Picks Choice Hotels currently carries a Zacks Rank #3 (Hold). Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here. | This marks the company’s 100th hotel opening. Earnings estimates for 2024 have increased in the past 30 days, depicting analyst optimism regarding the stock’s growth potential. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 9f68d4f2-7fe3-4982-ae63-aa93498042c5 |
710791.0 | 2023-12-16 00:00:00 UTC | Nasdaq 100 Movers: NVDA, ENPH | DCOMP | https://www.nasdaq.com/articles/nasdaq-100-movers%3A-nvda-enph | nan | nan | In early trading on Tuesday, shares of Enphase Energy topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.8%. Year to date, Enphase Energy has lost about 49.5% of its value.
And the worst performing Nasdaq 100 component thus far on the day is NVIDIA, trading down 1.6%. NVIDIA is showing a gain of 237.0% looking at the year to date performance.
Two other components making moves today are Costco Wholesale, trading down 1.2%, and Illumina, trading up 3.1% on the day.
VIDEO: Nasdaq 100 Movers: NVDA, ENPH
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And the worst performing Nasdaq 100 component thus far on the day is NVIDIA, trading down 1.6%. NVIDIA is showing a gain of 237.0% looking at the year to date performance. VIDEO: Nasdaq 100 Movers: NVDA, ENPH The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In early trading on Tuesday, shares of Enphase Energy topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.8%. Year to date, Enphase Energy has lost about 49.5% of its value. And the worst performing Nasdaq 100 component thus far on the day is NVIDIA, trading down 1.6%. | In early trading on Tuesday, shares of Enphase Energy topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.8%. And the worst performing Nasdaq 100 component thus far on the day is NVIDIA, trading down 1.6%. Two other components making moves today are Costco Wholesale, trading down 1.2%, and Illumina, trading up 3.1% on the day. | In early trading on Tuesday, shares of Enphase Energy topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.8%. And the worst performing Nasdaq 100 component thus far on the day is NVIDIA, trading down 1.6%. VIDEO: Nasdaq 100 Movers: NVDA, ENPH The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 7441679d-2a90-4fe9-8b89-e04f038c419d |
710792.0 | 2023-12-16 00:00:00 UTC | LPL Financial's (LPLA) November Metrics Rise on Upbeat Markets | DCOMP | https://www.nasdaq.com/articles/lpl-financials-lpla-november-metrics-rise-on-upbeat-markets | nan | nan | LPL Financial's LPLA total brokerage and advisory assets were $1.30 trillion at the end of November 2023, increasing 6.6% from the prior month and 14.5% year over year. The rise in the company’s asset balance was mainly due to solid market performance.
Of LPLA’s total assets, brokerage assets were $598.2 billion and advisory assets amounted to $702.3 billion. Brokerage assets increased 5.7% from October 2023 and 11.4% year over year. Advisory assets gained 7.5% from the prior month and 17.2% from November 2022.
Total net new assets (NNAs) were $8.4 billion in the reported month. NNAs were $7.2 billion and $5.6 billion in October 2023 and November 2022, respectively.
The company reported $47.3 billion of total client cash balance, up 0.9% from October 2023 but down 24.3% from November 2022. Of the total balance, $33.8 billion was insured cash and $8.9 billion was deposit cash, while the remaining was money-market and client-cash balance.
LPL Financial’s recruiting efforts and solid advisor productivity will likely keep supporting advisory revenues. The company is expected to keep expanding through strategic buyouts with a robust balance sheet position. However, the challenging operating backdrop remains a major near-term headwind.
Over the past three months, shares of LPLA have declined 11.5% against the industry’s growth of 8%.
Image Source: Zacks Investment Research
LPLA currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Competitive Landscape
A couple of other brokerage firms that have come out with monthly data for November are Interactive Brokers Group IBKR and Charles Schwab SCHW.
Interactive Brokers released its Electronic Brokerage segment’s performance metrics for November 2023. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a decline in client Daily Average Revenue Trades (DARTs) on a sequential and year-over-year basis.
For IBKR, total client DARTs for the month were 1,898,000, declining 2% from the October 2023 level and 3% year over year.
Schwab released its monthly activity report for November 2023.
The company’s core net new assets of $21.7 billion jumped 92% from the previous month’s levels but declined 34% from the prior-year month’s figures. SCHW’s total client assets in November 2023 were $8.18 trillion, up 7% from October 2023 levels and 12% from November 2022 levels.
Client assets receiving ongoing advisory services were $4.16 trillion, rising 7% from the prior month and 10% year over year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A Competitive Landscape A couple of other brokerage firms that have come out with monthly data for November are Interactive Brokers Group IBKR and Charles Schwab SCHW. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." | LPL Financial's LPLA total brokerage and advisory assets were $1.30 trillion at the end of November 2023, increasing 6.6% from the prior month and 14.5% year over year. A Competitive Landscape A couple of other brokerage firms that have come out with monthly data for November are Interactive Brokers Group IBKR and Charles Schwab SCHW. Click to get this free report The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report To read this article on Zacks.com click here. | LPL Financial's LPLA total brokerage and advisory assets were $1.30 trillion at the end of November 2023, increasing 6.6% from the prior month and 14.5% year over year. Of LPLA’s total assets, brokerage assets were $598.2 billion and advisory assets amounted to $702.3 billion. Click to get this free report The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report To read this article on Zacks.com click here. | The company reported $47.3 billion of total client cash balance, up 0.9% from October 2023 but down 24.3% from November 2022. For IBKR, total client DARTs for the month were 1,898,000, declining 2% from the October 2023 level and 3% year over year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | 2f5621a3-2e7b-45d2-ad3a-3ed585d03599 |
710793.0 | 2023-12-16 00:00:00 UTC | AngloGold Ashanti Adds 6% On Decision To Invest $$$ In G2 Goldfields | DCOMP | https://www.nasdaq.com/articles/anglogold-ashanti-adds-6-on-decision-to-invest-%24%24%24-in-g2-goldfields | nan | nan | (RTTNews) - Shares of AngloGold Ashanti plc (AU) are trading 6% higher Tuesday morning following the company's decision to invest in G2 Goldfields Inc.
The company intends to buy 24.5 million shares of G2 for C$0.90 per share for total consideration of C$22.05 million.
Commenting on the Subscription, Alberto Calderon, CEO of AngloGold Ashanti said, "This strategic investment in G2 will provide us with a strong position in one of the world's key gold provinces with significant potential for new discoveries. We look forward to G2's continued exploration success as the Guiana Shield continues to develop."
G2 is actively exploring in Guyana, which is host to a number of significant deposits including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu (7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz) mines in Suriname; and the Montagne d'Or (3.9Moz) and Camp Caiman (2.9Moz) deposits in French Guiana.
AU is at $19.01 currently. It has traded in the range of $14.91 - $30.27 in the last 1 year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Shares of AngloGold Ashanti plc (AU) are trading 6% higher Tuesday morning following the company's decision to invest in G2 Goldfields Inc. Commenting on the Subscription, Alberto Calderon, CEO of AngloGold Ashanti said, "This strategic investment in G2 will provide us with a strong position in one of the world's key gold provinces with significant potential for new discoveries. G2 is actively exploring in Guyana, which is host to a number of significant deposits including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu (7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz) mines in Suriname; and the Montagne d'Or (3.9Moz) and Camp Caiman (2.9Moz) deposits in French Guiana. | (RTTNews) - Shares of AngloGold Ashanti plc (AU) are trading 6% higher Tuesday morning following the company's decision to invest in G2 Goldfields Inc. We look forward to G2's continued exploration success as the Guiana Shield continues to develop." G2 is actively exploring in Guyana, which is host to a number of significant deposits including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu (7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz) mines in Suriname; and the Montagne d'Or (3.9Moz) and Camp Caiman (2.9Moz) deposits in French Guiana. | (RTTNews) - Shares of AngloGold Ashanti plc (AU) are trading 6% higher Tuesday morning following the company's decision to invest in G2 Goldfields Inc. Commenting on the Subscription, Alberto Calderon, CEO of AngloGold Ashanti said, "This strategic investment in G2 will provide us with a strong position in one of the world's key gold provinces with significant potential for new discoveries. G2 is actively exploring in Guyana, which is host to a number of significant deposits including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu (7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz) mines in Suriname; and the Montagne d'Or (3.9Moz) and Camp Caiman (2.9Moz) deposits in French Guiana. | (RTTNews) - Shares of AngloGold Ashanti plc (AU) are trading 6% higher Tuesday morning following the company's decision to invest in G2 Goldfields Inc. We look forward to G2's continued exploration success as the Guiana Shield continues to develop." G2 is actively exploring in Guyana, which is host to a number of significant deposits including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu (7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz) mines in Suriname; and the Montagne d'Or (3.9Moz) and Camp Caiman (2.9Moz) deposits in French Guiana. | 86d3d14f-615e-449f-a9b3-d9427ed332b0 |
710794.0 | 2023-12-16 00:00:00 UTC | Adobe Ends Its Pursuit of Figma -- Is Adobe Stock a Buy for 2024? | DCOMP | https://www.nasdaq.com/articles/adobe-ends-its-pursuit-of-figma-is-adobe-stock-a-buy-for-2024 | nan | nan | Numerous regulatory objections were piling up for Adobe's (NASDAQ: ADBE) blockbuster $20 billion acquisition of fast-growing start-up Figma. And it's now official. With "no clear path" to satisfying regulatory concerns in Europe and the U.K., Adobe is walking away from the Figma tie-up.
To be clear, Adobe is going to be absolutely fine. It's still in pole position in all things creative software. But after an epic year of AI-fueled growth comes to a close, Adobe is facing tougher growth comparisons without the inclusion of its hoped-for Figma prize. Is the stock a buy for 2024 anyway?
No Figma means Adobe is $1 billion poorer
In September 2022, Adobe said it would acquire Figma for $20 billion, half in new stock and half in cash (much of that cash funded with new debt). It was a sky-high valuation for Figma, which was on track to reach $400 million in annualized sales at the end of 2022, double that of 2021. But with lots of young creators flocking to Figma's collaborative design software, it seemed clear Adobe wanted to purchase Figma to stave off a potential future threat to its creative software empire.
I wasn't particularly enthralled with the proposed purchase when the deal was announced, but I decided to hold on to my Adobe stock at that time. A few months later early in 2023, after mulling over the implications of the merger, I decided to sell Adobe. I'm not sorry. I reallocated some of the proceeds into Salesforce (NYSE: CRM), which, just my luck, has outperformed Adobe stock in 2023.
Data by YCharts.
At any rate, though Adobe will be just fine without Figma, there could be some lumps ahead. As part of the original deal, Adobe will have to pay a $1 billion acquisition termination fee to Figma. Adobe is good for the cash, but it isn't chump change, either. Adobe had $7.8 billion in cash and short-term investments on hand at the beginning of December 2023, offset by total debt of $3.6 billion.
Adobe is a great company, but is it a buy now?
Adobe is coming off a solid 2023, one in which it outperformed thanks in no small part to its quick rollout of new generative AI tools. Nevertheless, there were headwinds as many of its customers pared back new spending amid uncertain economic times. Full-year revenue gained 10% to $19.4 billion, and earnings per share (EPS) -- both on a GAAP and adjusted basis -- rose 17%.
But slower growth (relative to years past when it grew revenue at a high-teens to low 20s percentage rate) is still clearly hitting Adobe right now. For fiscal 2024, management said revenue is expected to increase to as much as $21.5 billion, implying year-over-year sales growth shy of 11%. GAAP and adjusted EPS are expected to rise as much as 17% and 12%, respectively.
To be clear, these are solid numbers, boosted by Adobe's high rate of profitability which it uses to repurchase ample amounts of stock. But the valuation is also quite high after all that 2023 AI hype. Shares trade for 42 times the high end of expected 2024 EPS, or 33 times the expected high end of 2024 adjusted EPS.
If you own Adobe stock right now, there's no reason to fret. Though the Figma transaction has fallen through, Adobe remains one of the most powerful software companies around. It no doubt has some other tricks up its sleeve to continue its steady and profitable growth. But for those looking at making a buy in 2024, there could be cloud and AI stocks with a better valuation to give a closer look right now. I, for one, still like Salesforce's momentum headed into the new year.
Should you invest $1,000 in Adobe right now?
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Nicholas Rossolillo and his clients have positions in Salesforce. The Motley Fool has positions in and recommends Adobe and Salesforce. The Motley Fool recommends the following options: long January 2024 $420 calls on Adobe and short January 2024 $430 calls on Adobe. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Numerous regulatory objections were piling up for Adobe's (NASDAQ: ADBE) blockbuster $20 billion acquisition of fast-growing start-up Figma. But slower growth (relative to years past when it grew revenue at a high-teens to low 20s percentage rate) is still clearly hitting Adobe right now. To be clear, these are solid numbers, boosted by Adobe's high rate of profitability which it uses to repurchase ample amounts of stock. | Shares trade for 42 times the high end of expected 2024 EPS, or 33 times the expected high end of 2024 adjusted EPS. Before you buy stock in Adobe, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Adobe wasn't one of them. The Motley Fool has positions in and recommends Adobe and Salesforce. | No Figma means Adobe is $1 billion poorer In September 2022, Adobe said it would acquire Figma for $20 billion, half in new stock and half in cash (much of that cash funded with new debt). Before you buy stock in Adobe, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Adobe wasn't one of them. The Motley Fool recommends the following options: long January 2024 $420 calls on Adobe and short January 2024 $430 calls on Adobe. | Shares trade for 42 times the high end of expected 2024 EPS, or 33 times the expected high end of 2024 adjusted EPS. Before you buy stock in Adobe, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Adobe wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 18, 2023 Nicholas Rossolillo and his clients have positions in Salesforce. | 9a3ee09e-fee8-4cd2-806a-9f8514775c2d |
710795.0 | 2023-12-16 00:00:00 UTC | CEE MARKETS-Forint weakens a touch in thin trading after rate decision | DCOMP | https://www.nasdaq.com/articles/cee-markets-forint-weakens-a-touch-in-thin-trading-after-rate-decision | nan | nan | By 1446 GMT the Hungarian forint EURHUF= was 0.07% weaker on the day to the euro at 384.45, after having firmed in the morning.
Central Bank Vice-Governor Barnabas Virag said rate cuts will continue in a data-driven manner and that the base rate will enter into single-digit territory sometime in the near future.
Meanwhile, the Czech crown EURCZK= slipped 0.2% to 24.54 per euro, having retreated steadily since late November, and traded close to its weakest levels in almost a month.
Elsewhere the Polish zloty EURPLN= traded at 4.34 per euro, holding flat slightly off of its strongest standing since March 2020.
"For the rest of the year, the EURPLN exchange rate will remain stable around the level of 4.33 with low volatility," Bank Millennium analysts wrote in a comment.
"Emotions will probably return only at the beginning of 2024, when macroeconomic data will build expectations regarding the decisions of the largest central banks."
Poland's new government adopted its draft budget for 2024 on Tuesday, with a deficit of 184 billion zlotys ($46.44 billion), higher than previously forecast as the new administration implements policies such as public sector pay rises.
"Even though next year's borrowing needs in the previous government's (budget) draft were nominally record-breaking, the cost of fulfilling the coalition's election promises will further increase them," Bank Millennium economists said.
CEE MARKETS
SNAPSHOT
AT 1546 CET
CURRENCIES
Latest
Previous
Daily
Change
bid
close
change
in 2023
EURCZK=
Czech crown
EURCZK=
24.5380
24.5000
-0.15%
-1.55%
EURHUF=
Hungary forint
EURHUF=
384.4500
384.7000
+0.07%
+3.90%
EURPLN=
Polish zloty
EURPLN=
4.3370
4.3300
-0.16%
+8.13%
EURRON=
Romanian leu
EURRON=
4.9720
4.9695
-0.05%
-0.59%
EURRSD=
Serbian dinar
EURRSD=
117.1400
117.1800
+0.03%
+0.14%
Note: daily change
calculated from
1800 CET
Latest
Previous
Daily
Change
close
change
in 2023
.PX
Prague
.PX
1380.35
1381.8400
-0.11%
+14.86%
.BUX
Budapest
.BUX
60686.97
60538.62
+0.25%
+38.57%
.WIG20
Warsaw
.WIG20
2366.63
2334.50
+1.38%
+32.07%
.BETI
Bucharest
.BETI
15510.53
15472.07
+0.25%
+32.98%
Spread
Daily
vs Bund
change in
Czech Republic
spread
CZ2YT=RR
2-year
CZ2YT=RR
4.6680
-0.1410
+214bps
-12bps
CZ5YT=RR
5-year
CZ5YT=RR
3.7080
-0.0300
+171bps
+1bps
CZ10YT=RR
10-year
CZ10YT=RR
3.7960
-0.0170
+178bps
+4bps
Poland
PL2YT=RR
2-year
PL2YT=RR
4.9730
-0.0420
+245bps
-2bps
PL5YT=RR
5-year
PL5YT=RR
4.8110
-0.0510
+281bps
-1bps
PL10YT=RR
10-year
PL10YT=RR
5.0520
-0.0830
+303bps
-3bps
FORWARD
3x6
6x9
9x12
3M interbank
Czech Rep
CZKFRAPRIBOR=
6.16
5.00
3.91
6.99
Hungary
HUFFRABUBOR=
8.59
6.64
5.64
10.12
Poland
PLNFRAWIBOR=
5.50
4.95
4.47
5.86
Note: FRA quotes
are for ask prices
**************************************************************
(Reporting by Karol Badohal in Warsaw and Boldizsar Gyori in Budapest; Editing by Shailesh Kuber)
((karl.badohal@thomsonreuters.comboldizsar.gyori@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Meanwhile, the Czech crown EURCZK= slipped 0.2% to 24.54 per euro, having retreated steadily since late November, and traded close to its weakest levels in almost a month. "For the rest of the year, the EURPLN exchange rate will remain stable around the level of 4.33 with low volatility," Bank Millennium analysts wrote in a comment. "Even though next year's borrowing needs in the previous government's (budget) draft were nominally record-breaking, the cost of fulfilling the coalition's election promises will further increase them," Bank Millennium economists said. | "Even though next year's borrowing needs in the previous government's (budget) draft were nominally record-breaking, the cost of fulfilling the coalition's election promises will further increase them," Bank Millennium economists said. Latest Previous Daily Change bid close change in 2023 Latest Previous Daily Change close change in 2023 | Poland's new government adopted its draft budget for 2024 on Tuesday, with a deficit of 184 billion zlotys ($46.44 billion), higher than previously forecast as the new administration implements policies such as public sector pay rises. Latest Previous Daily Change close change in 2023 5.50 4.95 4.47 5.86 Note: FRA quotes are for ask prices ************************************************************** (Reporting by Karol Badohal in Warsaw and Boldizsar Gyori in Budapest; Editing by Shailesh Kuber) ((karl.badohal@thomsonreuters.comboldizsar.gyori@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Poland's new government adopted its draft budget for 2024 on Tuesday, with a deficit of 184 billion zlotys ($46.44 billion), higher than previously forecast as the new administration implements policies such as public sector pay rises. Hungary forint 15510.53 15472.07 +0.25% +32.98% Spread Daily vs Bund change in Czech Republic spread | 8df9893d-6c43-4382-afda-0e70b364c0a0 |
710796.0 | 2023-12-16 00:00:00 UTC | AECOM's (ACM) Prosperity JV Selected by Australia's Sunwater | DCOMP | https://www.nasdaq.com/articles/aecoms-acm-prosperity-jv-selected-by-australias-sunwater | nan | nan | AECOM’s ACM joint venture (JV) with Jacobs Solutions Inc. J has been selected by Australia’s Sunwater as the Engineering and Professional Services Partner for the Queensland bulk water service provider.
This AECOM and Jacobs JV will support and advise Sunwater in attaining strategic and operational objectives regarding water management through a long-term sole partnership. Currently, Sunwater’s dams and pipelines deliver more than 1.3 million megaliters of water for commercial purposes in Queensland annually, which is about 40% of the total water usage.
This Prosperity JV will help the Australian water service provider build, operate, and maintain water infrastructure assets that are essential to Queensland’s economy. Furthermore, this collaboration will also help Sunwater expand its capacity and capability to meet the current as well as future demand for engineering and professional services.
Following the announcement, AECOM’s shares gained 0.7% during the trading hours on Dec 18.
Strong Backlog & Pipelines Bode Well
AECOM is witnessing robust prospects in each of its segments. Currently, it has a good visibility of a strong backlog and pipelines for the upcoming quarters. The company’s solid backlog levels, which are a key indicator of future revenue growth, indicate significant opportunities in the forthcoming quarters.
Owing to the improvement in the global economic scenario, the company is expecting better infrastructural prospects in the Americas and the international market. AECOM’s pipeline of opportunities is up in double digits in the Americas design business. Based on clients' strengthening funding backdrop, including benefits from the $ 1.2 trillion infrastructure bill in the United States, it expects the backlog to grow further. Also, the company has been benefiting from solid infrastructure spending in the United Kingdom, Canada, Hong Kong and Australia.
In the fourth quarter of fiscal 2023-end, AECOM’s total backlog was $41.17 billion compared with $40.18 billion reported in the prior-year period. The current backlog level includes 54.8% contracted backlog growth. The design contracted backlog in the fiscal 2023 was up 15% year over year. Overall, the company’s performance demonstrates that it has been outgrowing the industry organically and capturing market share.
Image Source: Zacks Investment Research
Thanks to the aforementioned tailwinds, shares of this professional, technical and management solutions provider gained 11.2% in the past three months, outperforming the Zacks Engineering - R and D Services industry’s 7.1% growth.
Zacks Rank
AECOM currently carries a Zacks Rank #2 (Buy).
About Jacobs Solutions
Jacobs is one of the leading providers of professional, technical and construction services to industrial, commercial and governmental clients. The company operates in four operating segments, which are Critical Mission Solutions, People & Places Solutions, its business unit Divergent Solutions and its majority investment in PA Consulting. At the end of fiscal 2023, the company had a backlog of $29.1 billion, up 4% from a year ago.
Jacobs currently carries a Zacks Rank #4 (Sell). J delivered a trailing four-quarter negative earnings surprise of 0.4%, on average. The Zacks Consensus Estimate for J’s fiscal 2024 sales and earnings per share (EPS) indicates growth of 4.8% and 11.8%, respectively, from the previous year’s reported levels.
Other Key Picks
Here are some other top-ranked stocks from the Construction sector.
EMCOR Group, Inc. EME presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have soared 47.9% in the past year. The Zacks Consensus Estimate for EME’s 2023 sales and EPS indicates an improvement of 12% and 52.8%, respectively, from the year-ago levels.
M-tron Industries, Inc. MPTI currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 252.2% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AECOM (ACM) : Free Stock Analysis Report
EMCOR Group, Inc. (EME) : Free Stock Analysis Report
Jacobs Solutions Inc. (J) : Free Stock Analysis Report
M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This AECOM and Jacobs JV will support and advise Sunwater in attaining strategic and operational objectives regarding water management through a long-term sole partnership. Based on clients' strengthening funding backdrop, including benefits from the $ 1.2 trillion infrastructure bill in the United States, it expects the backlog to grow further. The Zacks Consensus Estimate for J’s fiscal 2024 sales and earnings per share (EPS) indicates growth of 4.8% and 11.8%, respectively, from the previous year’s reported levels. | The current backlog level includes 54.8% contracted backlog growth. Zacks Rank AECOM currently carries a Zacks Rank #2 (Buy). Click to get this free report AECOM (ACM) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Jacobs Solutions Inc. (J) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Thanks to the aforementioned tailwinds, shares of this professional, technical and management solutions provider gained 11.2% in the past three months, outperforming the Zacks Engineering - R and D Services industry’s 7.1% growth. The Zacks Consensus Estimate for J’s fiscal 2024 sales and earnings per share (EPS) indicates growth of 4.8% and 11.8%, respectively, from the previous year’s reported levels. Click to get this free report AECOM (ACM) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Jacobs Solutions Inc. (J) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here. | Image Source: Zacks Investment Research Thanks to the aforementioned tailwinds, shares of this professional, technical and management solutions provider gained 11.2% in the past three months, outperforming the Zacks Engineering - R and D Services industry’s 7.1% growth. The Zacks Consensus Estimate for J’s fiscal 2024 sales and earnings per share (EPS) indicates growth of 4.8% and 11.8%, respectively, from the previous year’s reported levels. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? | bb0f8cce-1437-4c0b-955f-44ccc517ea1e |
710797.0 | 2023-12-16 00:00:00 UTC | Here's Why Sprouts Farmers (SFM) is Staying Ahead of Industry | DCOMP | https://www.nasdaq.com/articles/heres-why-sprouts-farmers-sfm-is-staying-ahead-of-industry | nan | nan | Sprouts Farmers Market, Inc. SFM, one of the recognized names in the grocery space, has exhibited an impressive run on the bourses in the past six months on strategies, such as enhancing omni-channel solutions, a widening customer base and emphasizing private-label products. Shares of this Zacks Rank #3 (Hold) company have gained 44.5% in the past six months compared with the industry’s growth of 25.4%.
An uptrend in the Zacks Consensus Estimate echoes the same sentiment. The consensus estimates for current financial year 2023 and 2024 have increased 1.5% and 0.4% to $2.79 and $2.82, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Let’s Dig in Deeper
Sprouts Farmers is actively working to enhance and integrate its customer experience broadly. The company's strategy to grow its customer base involves a combination of product innovation, improved customer experiences, targeted marketing with competitive pricing and technological improvements.
To cater to the increasing preference for convenience, the company is broadening its range of products to include items that are ready-to-eat, ready-to-heat and ready-to-cook. Additionally, Sprouts Farmers is boosting its private-label offerings across various categories.
Through strategic partnerships with Instacart and DoorDash, the company has accessed new markets, significantly boosting its e-commerce sector. This approach has paid off, as evidenced by a notable 16% year-over-year increase in e-commerce sales in the third quarter of 2023, accounting for 12.1% of the total sales.
In an aggressive push for revenue growth, Sprouts Farmers Market opened 10 stores in the third quarter. In its last reported quarter’searnings call management highlighted that it would open 30 stores in 2023 and an additional 35 in 2024, mostly in the latter half of the year.
The company is focusing on smaller store formats, a strategic decision aimed at increasing profitability, especially in key areas like produce and frozen goods. This strategy is in line with Sprouts Farmers' goal of achieving a 10% annual growth rate in units starting in 2024.
Positive Prospects - Another Key Factor
Courtesy of a solid momentum, Sprouts Farmers appears well-positioned. The company expects a 3% rise in comparable store sales and a solid 6.5-7% increase in net sales in 2023. Consequently, the management recently raised its 2023 adjusted earnings before interest and taxes forecast to $387-$393 million, up from the previously mentioned $378-$390 million.
This revised forecast suggests 8.6% year-over-year growth in adjusted operating income. Additionally, Sprouts Farmers anticipates its full-year adjusted earnings per share to reach $2.77-$2.81, suggesting a significant jump from the $2.39 reported in 2022.
3 Promising Stocks
We have highlighted three better-ranked stocks, namely Casey's General Stores, Inc. CASY, Ollie's Bargain Outlet Holdings, Inc. OLLI and Sovos Brands Inc. SOVO.
Casey's offers a comprehensive range of products and services to meet the needs of its customers. The company currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Casey's current fiscal-year sales and EPS suggests growth of 0.7% and 6.2%, respectively, from the year-ago reported figures. CASY has a trailing four-quarter earnings surprise of 17.8%, on average.
Ollie's Bargain Outlet is a value retailer of brand-name merchandise at drastically reduced prices. The company currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Ollie's Bargain Outlet’s current fiscal-year sales and EPS suggests growth of 14.8% and 72.8%, respectively, from the year-ago reported figures. OLLI has a trailing four-quarter earnings surprise of 7%, on average.
Sovos Brands is a food company. Its brand portfolio includes Rao's, a premium line of pasta sauces, pizza sauces, dry pastas, frozen entrees and soups. The company currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Sovos Brands’ current financial-year sales and earnings suggests growth of 13.4% and 25%, respectively, from the year-ago reported numbers. SOVO has a trailing four-quarter earnings surprise of 21.9%, on average.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
Sprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report
Ollie's Bargain Outlet Holdings, Inc. (OLLI) : Free Stock Analysis Report
Sovos Brands, Inc. (SOVO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sprouts Farmers Market, Inc. SFM, one of the recognized names in the grocery space, has exhibited an impressive run on the bourses in the past six months on strategies, such as enhancing omni-channel solutions, a widening customer base and emphasizing private-label products. Image Source: Zacks Investment Research Let’s Dig in Deeper Sprouts Farmers is actively working to enhance and integrate its customer experience broadly. The company is focusing on smaller store formats, a strategic decision aimed at increasing profitability, especially in key areas like produce and frozen goods. | 3 Promising Stocks We have highlighted three better-ranked stocks, namely Casey's General Stores, Inc. CASY, Ollie's Bargain Outlet Holdings, Inc. OLLI and Sovos Brands Inc. SOVO. The Zacks Consensus Estimate for Ollie's Bargain Outlet’s current fiscal-year sales and EPS suggests growth of 14.8% and 72.8%, respectively, from the year-ago reported figures. Click to get this free report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report Sprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report Ollie's Bargain Outlet Holdings, Inc. (OLLI) : Free Stock Analysis Report Sovos Brands, Inc. (SOVO) : Free Stock Analysis Report To read this article on Zacks.com click here. | The Zacks Consensus Estimate for Ollie's Bargain Outlet’s current fiscal-year sales and EPS suggests growth of 14.8% and 72.8%, respectively, from the year-ago reported figures. The Zacks Consensus Estimate for Sovos Brands’ current financial-year sales and earnings suggests growth of 13.4% and 25%, respectively, from the year-ago reported numbers. Click to get this free report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report Sprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report Ollie's Bargain Outlet Holdings, Inc. (OLLI) : Free Stock Analysis Report Sovos Brands, Inc. (SOVO) : Free Stock Analysis Report To read this article on Zacks.com click here. | Shares of this Zacks Rank #3 (Hold) company have gained 44.5% in the past six months compared with the industry’s growth of 25.4%. 3 Promising Stocks We have highlighted three better-ranked stocks, namely Casey's General Stores, Inc. CASY, Ollie's Bargain Outlet Holdings, Inc. OLLI and Sovos Brands Inc. SOVO. The Zacks Consensus Estimate for Sovos Brands’ current financial-year sales and earnings suggests growth of 13.4% and 25%, respectively, from the year-ago reported numbers. | 0f0cca0c-b192-44af-bac0-da90f90924a5 |
710798.0 | 2023-12-16 00:00:00 UTC | Where Will Toast Stock Be in 3 Years? | DCOMP | https://www.nasdaq.com/articles/where-will-toast-stock-be-in-3-years | nan | nan | It hasn't been easy at all to be a Toast (NYSE: TOST) shareholder. Since going public during a market boom in the fall of 2021, the stock has cratered. As of Dec. 15, it's 74% below its peak price. But that doesn't mean investors should completely avoid this restaurant-focused software and service business.
There are some favorable attributes that can't be ignored. Toast might've been a poor investment in the past, but over the next three years, it could be a winner. Here's why.
Growth is key to the story
Toast's revenue went from $665 million in 2019 to $3.6 billion in the trailing 12 months. Clearly, rapidly rising sales are the most important aspect of this company's story right now. And it makes sense why.
It all starts with Toast's customer value proposition. The business provides various mission-critical services for roughly 100,000 restaurant locations in the U.S., like payment processing, online ordering, delivery and takeout, inventory tracking, and staff management.
Toast offers an end-to-end solution that focuses intensely on the user experience and makes life easier for restaurant owners and operators. The fact that Toast is growing so much is proof that it's catering to a need in the industry.
There's no doubt that over the next three years, this company is poised to be much larger than it is today. This means a bigger customer base and greater revenue.
In the third quarter, Toast generated $1.2 billion of annual recurring run rate (ARR) revenue. This is a critical metric that management follows as it showcases the stickiness of customer relationships via subscriptions. The leadership team believes the ARR total addressable market, just in the U.S., is estimated to be $55 billion. So, there is obviously a massive runway to capture in the years ahead.
Toast can also become more successful by keeping its attention on innovation. Introducing new product and service features will not only satisfy existing restaurant clients, but this strategy can also make it easier to bring on new ones.
Show me the profits
For a company that is focused on growth above all else, it shouldn't be surprising that profitability has been elusive. In 2022, the business posted a net loss of $275 million. And through the first nine months of 2023, this figure totaled $210 million.
You would assume that investors would let this unfavorable situation slide in favor of market share gains. This was certainly the case in a lower interest rate environment.
But we are in different economic times right now. Investors might seem to care more about positive profits when the state of the economy is uncertain. And if this is the case in the next few years, Toast's income statement better get in the black sooner rather than later.
To its credit, Toast's Q3 net loss of $31 million was much lower compared to the year-ago period. You should hope that management isn't sacrificing its growth opportunities by trying to be too efficient.
Perhaps as the business continues to scale up, it can show signs of operating leverage and an improving bottom line. I think this could work wonders for the stock price.
Add in a valuation tailwind
There's another factor that could prove to be a nice tailwind for investors over the next three years: the valuation. All else equal, it's always better to pay less for a company, as it creates the potential for higher returns.
Since the stock has gotten so crushed, it's not expensive right now. Shares trade at a price-to-sales (P/S) ratio of 2.5, which is about half the historical average valuation.
Should Toast continue on its path of growth, while at the same time inching closer to consistent net income, the P/S multiple should get a boost. And shareholders, no doubt, will be very happy.
Should you invest $1,000 in Toast right now?
Before you buy stock in Toast, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Toast wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.
See the 10 stocks
*Stock Advisor returns as of December 11, 2023
Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool recommends Toast. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The business provides various mission-critical services for roughly 100,000 restaurant locations in the U.S., like payment processing, online ordering, delivery and takeout, inventory tracking, and staff management. Toast offers an end-to-end solution that focuses intensely on the user experience and makes life easier for restaurant owners and operators. Should Toast continue on its path of growth, while at the same time inching closer to consistent net income, the P/S multiple should get a boost. | To its credit, Toast's Q3 net loss of $31 million was much lower compared to the year-ago period. Before you buy stock in Toast, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Toast wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Neil Patel and his clients have no position in any of the stocks mentioned. | Before you buy stock in Toast, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Toast wasn't one of them. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Neil Patel and his clients have no position in any of the stocks mentioned. | Growth is key to the story Toast's revenue went from $665 million in 2019 to $3.6 billion in the trailing 12 months. Before you buy stock in Toast, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Toast wasn't one of them. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. | 956a2d89-cb05-49ed-99e6-eba0fd14d750 |
710799.0 | 2023-12-16 00:00:00 UTC | Brazil airlines shares rise on relief amid Lula push for lower ticket prices | DCOMP | https://www.nasdaq.com/articles/brazil-airlines-shares-rise-on-relief-amid-lula-push-for-lower-ticket-prices | nan | nan | By Gabriel Araujo
SAO PAULO, Dec 19 (Reuters) - Shares of Brazilian airlines rose on Tuesday on investor relief that a government deal to lower ticket prices was not as heavy-handed as some expected, amid President Luiz Inacio Lula da Silva's personal campaign to make airfare more affordable.
Carrier Azul AZUL4.SA rose over 4% in Sao Paulo trading, while rival Gol GOLL4.SA gained more than 3%, among the top gainers on benchmark stock index Bovespa .BVSP, which was up 0.6%.
Both agreed with Lula's government on Monday to cap prices for millions of domestic tickets.
"Our view is the market expected something worse," analysts at Genial Investimentos told clients in a note, adding that the price-capped fares should not "significantly" reduce 2024 yields, an industry pricing gauge.
Still, the Ports and Airports Ministry called the pricing agreement the "first step" of a program to bring down fares, and Lula floated the prospect of legislative action to tackle air travel costs at a 14-year high.
"That is something both government and Senate will have to address, so that we can try and find a solution," the leftist president told an event late on Monday. "There is no explanation for the prices of airfare in this country."
Airlines say the local market reflects a global trend, with heated demand for air travel after the pandemic and supply chain issues affecting planemakers' ability to deliver new aircraft that would increase capacity.
"I'm being called to Brasilia every week because of ticket prices," Azul Chief Executive John Rodgerson told reporters last week. "But ticket prices are based on demand, and the only way to deal with it is bringing in more supply."
In Monday's deal with the government, Azul agreed to sell 10 million tickets for less than 800 reais ($163) next year. Gol will offer 15 million seats for under 700 reais each and Latam LTM.SN pledged to increase its supply of flights in Brazil.
Industry observers are skeptical about how much that will change Brazil's average airfare, currently around 750 reais, the highest since 2009, according to data from local regulator ANAC.
"Customer response to current tariff levels remains positive, with no sign of slowing demand," BTG Pactual analysts said in a note after hosting Azul's management for a meeting, adding the carrier "anticipates no major tariff adjustments."
Both Azul and Gol last month reduced their outlook for total seats available this year.
Azul expects to add 19 new aircraft to its fleet next year but acknowledges that planemakers around the world face major engine supply hurdles, which also increases maintenance costs for carriers.
Gol had a similar complaint last week, blaming the delay in deliveries of Boeing's BA.N 737 MAX aircraft for limiting the carrier's growth and putting pressure on its maintenance team.
($1 = 4.8967 reais)
(Reporting by Gabriel Araujo Editing by Brad Haynes and Alistair Bell)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Gabriel Araujo SAO PAULO, Dec 19 (Reuters) - Shares of Brazilian airlines rose on Tuesday on investor relief that a government deal to lower ticket prices was not as heavy-handed as some expected, amid President Luiz Inacio Lula da Silva's personal campaign to make airfare more affordable. Still, the Ports and Airports Ministry called the pricing agreement the "first step" of a program to bring down fares, and Lula floated the prospect of legislative action to tackle air travel costs at a 14-year high. Airlines say the local market reflects a global trend, with heated demand for air travel after the pandemic and supply chain issues affecting planemakers' ability to deliver new aircraft that would increase capacity. | By Gabriel Araujo SAO PAULO, Dec 19 (Reuters) - Shares of Brazilian airlines rose on Tuesday on investor relief that a government deal to lower ticket prices was not as heavy-handed as some expected, amid President Luiz Inacio Lula da Silva's personal campaign to make airfare more affordable. "Our view is the market expected something worse," analysts at Genial Investimentos told clients in a note, adding that the price-capped fares should not "significantly" reduce 2024 yields, an industry pricing gauge. In Monday's deal with the government, Azul agreed to sell 10 million tickets for less than 800 reais ($163) next year. | By Gabriel Araujo SAO PAULO, Dec 19 (Reuters) - Shares of Brazilian airlines rose on Tuesday on investor relief that a government deal to lower ticket prices was not as heavy-handed as some expected, amid President Luiz Inacio Lula da Silva's personal campaign to make airfare more affordable. In Monday's deal with the government, Azul agreed to sell 10 million tickets for less than 800 reais ($163) next year. Azul expects to add 19 new aircraft to its fleet next year but acknowledges that planemakers around the world face major engine supply hurdles, which also increases maintenance costs for carriers. | "But ticket prices are based on demand, and the only way to deal with it is bringing in more supply." In Monday's deal with the government, Azul agreed to sell 10 million tickets for less than 800 reais ($163) next year. Gol will offer 15 million seats for under 700 reais each and Latam LTM.SN pledged to increase its supply of flights in Brazil. | 7a971672-b9bd-4529-92ca-66dc85f23606 |
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