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713000.0
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2023-12-12 00:00:00 UTC
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US STOCKS-Wall St rises modestly after inflation data, Fed on tap
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-wall-st-rises-modestly-after-inflation-data-fed-on-tap
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nan
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nan
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By Chuck Mikolajczak
NEW YORK, Dec 12 (Reuters) - U.S. stocks edged higher on Tuesday to push the major indexes to new highs for the year, after inflation data did little to alter expectations for the timing of a rate cut by the Federal Reserve, as investors eyed the central bank's last policy decision of the year on Wednesday.
The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Core prices, excluding volatile items such as food and energy costs, also matched expectations, showing a 4% annual rise.
On a month-on-month basis, consumer prices ticked up 0.1% last month, compared with estimates of remaining unchanged.
Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
Expectations for a cut of at least 25 basis points in March fell to 43.7%, from about 50% before the data, according to the CME Group's FedWatch Tool. The market is now pricing in a chance of about 78% for a cut in May, up from about 75% on Monday.
"The market is certainly assuming that inflation is going to keep coming down, that earnings in this next year are going to show some decent growth and the Fed is going to cut rates," said Scott Wren, seniorglobal marketstrategist at the Wells Fargo Investment Institute in St. Louis.
"The market is counting on more of a soft landing that would allow the Fed to ease up."
The Dow Jones Industrial Average .DJI rose 113.66 points, or 0.31%, to 36,518.59, the S&P 500 .SPX gained 12.13 points, or 0.27%, to 4,634.71 and the Nasdaq Composite .IXIC gained 68.53 points, or 0.47 %, to 14,501.01.
Markets will get another look at inflation data in the form of the Producer Price Index (PPI) before all eyes turn to the Fed's policy announcement at the conclusion of its two-day meeting on Wednesday.
The European Central Bank and the Bank of England are also scheduled to deliver their policy verdicts later this week.
Oracle ORCL.N slumped 12.2% as the cloud services provider forecast third-quarter revenue below estimates on slowing demand for its cloud service.
Energy .SPNY was the worst-performing of the 11 major S&P sectors, falling more than 1% as crude prices slid. The tech sector, however, was among the best-performing, touching a record high as it is on track for its biggest yearly percentage gain since 2019.
Google-parent Alphabet GOOGL.O dipped 0.8%, after "Fortnite" maker Epic Games prevailed in its high-profile antitrust trial over the company.
Advancing issues were roughly even with decliners on the NYSE while declining issues outnumbered advancers by a 1.1-to-1 ratio on the Nasdaq.
The S&P 500 posted 69 new 52-week highs and 2 new lows while the Nasdaq recorded 171 new highs and 158 new lows.
Annual price changes for US consumers https://tmsnrt.rs/46TWOeO
(Reporting by Chuck Mikolajczak in New York Editing by Matthew Lewis)
((charles.mikolajczak@tr.com; @ChuckMik;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Core prices, excluding volatile items such as food and energy costs, also matched expectations, showing a 4% annual rise. "The market is certainly assuming that inflation is going to keep coming down, that earnings in this next year are going to show some decent growth and the Fed is going to cut rates," said Scott Wren, seniorglobal marketstrategist at the Wells Fargo Investment Institute in St. Louis. Markets will get another look at inflation data in the form of the Producer Price Index (PPI) before all eyes turn to the Fed's policy announcement at the conclusion of its two-day meeting on Wednesday.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks edged higher on Tuesday to push the major indexes to new highs for the year, after inflation data did little to alter expectations for the timing of a rate cut by the Federal Reserve, as investors eyed the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. On a month-on-month basis, consumer prices ticked up 0.1% last month, compared with estimates of remaining unchanged.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks edged higher on Tuesday to push the major indexes to new highs for the year, after inflation data did little to alter expectations for the timing of a rate cut by the Federal Reserve, as investors eyed the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks edged higher on Tuesday to push the major indexes to new highs for the year, after inflation data did little to alter expectations for the timing of a rate cut by the Federal Reserve, as investors eyed the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
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7501e9db-67a7-47cd-ba75-b7299a251af9
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713001.0
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2023-12-12 00:00:00 UTC
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Air New Zealand sees first-half earnings at lower end of forecast
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DCOMP
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https://www.nasdaq.com/articles/air-new-zealand-sees-first-half-earnings-at-lower-end-of-forecast
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nan
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nan
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Adds details on second-half earnings in paragraph 3, background in paragraph 4
Dec 13 (Reuters) - Air New Zealand AIR.NZ said on Wednesday it expects first-half earnings to be at the lower end of its forecast, due to weak travel demand and increased competition from U.S. carriers.
New Zealand's flagship carrier had earlier forecast earnings before tax for the six months ended Dec. 31 between NZ$180 million ($110.34 million) and NZ$230 million.
The company said it also expects the second half of the fiscal year to be "increasingly challenging".
Air NZ had said in October that financial impact from inspections of RTX's RTX.N Pratt & Whitney engines in the first half of 2024 is "expected to remain nominal".
It said it continues to address the ongoing impact from the engine issues on the business.
($1 = 1.6313 New Zealand dollars)
(Reporting by Echha Jain in Bengaluru; Editing by Shinjini Ganguli)
((Echha.Jain@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.
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Adds details on second-half earnings in paragraph 3, background in paragraph 4 Dec 13 (Reuters) - Air New Zealand AIR.NZ said on Wednesday it expects first-half earnings to be at the lower end of its forecast, due to weak travel demand and increased competition from U.S. carriers. Air NZ had said in October that financial impact from inspections of RTX's RTX.N Pratt & Whitney engines in the first half of 2024 is "expected to remain nominal". ($1 = 1.6313 New Zealand dollars) (Reporting by Echha Jain in Bengaluru; Editing by Shinjini Ganguli) ((Echha.Jain@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.
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Adds details on second-half earnings in paragraph 3, background in paragraph 4 Dec 13 (Reuters) - Air New Zealand AIR.NZ said on Wednesday it expects first-half earnings to be at the lower end of its forecast, due to weak travel demand and increased competition from U.S. carriers. New Zealand's flagship carrier had earlier forecast earnings before tax for the six months ended Dec. 31 between NZ$180 million ($110.34 million) and NZ$230 million. Air NZ had said in October that financial impact from inspections of RTX's RTX.N Pratt & Whitney engines in the first half of 2024 is "expected to remain nominal".
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Adds details on second-half earnings in paragraph 3, background in paragraph 4 Dec 13 (Reuters) - Air New Zealand AIR.NZ said on Wednesday it expects first-half earnings to be at the lower end of its forecast, due to weak travel demand and increased competition from U.S. carriers. New Zealand's flagship carrier had earlier forecast earnings before tax for the six months ended Dec. 31 between NZ$180 million ($110.34 million) and NZ$230 million. Air NZ had said in October that financial impact from inspections of RTX's RTX.N Pratt & Whitney engines in the first half of 2024 is "expected to remain nominal".
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Adds details on second-half earnings in paragraph 3, background in paragraph 4 Dec 13 (Reuters) - Air New Zealand AIR.NZ said on Wednesday it expects first-half earnings to be at the lower end of its forecast, due to weak travel demand and increased competition from U.S. carriers. New Zealand's flagship carrier had earlier forecast earnings before tax for the six months ended Dec. 31 between NZ$180 million ($110.34 million) and NZ$230 million. The company said it also expects the second half of the fiscal year to be "increasingly challenging".
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e7ef0d63-b8f0-4bdb-8fcd-81085c2187c3
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713002.0
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2023-12-12 00:00:00 UTC
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If You Invested $1,000 in Ripple (XRP) 3 Years Ago, This Is How Much You'd Have Now
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DCOMP
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https://www.nasdaq.com/articles/if-you-invested-%241000-in-ripple-xrp-3-years-ago-this-is-how-much-youd-have-now
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nan
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nan
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Imagine buying $1,000 of Ripple (CRYPTO: XRP) three years ago. That was before the Securities and Exchange Commission (SEC) filed a trade-stopping lawsuit that is still inching its way through the legal system. Before the latest cryptocurrency surge, and before the crypto winter that followed. Many digital currencies have soared over this period. For example, Bitcoin (CRYPTO: BTC) has gained 143% and Ethereum (CRYPTO: ETH) posted a $333% price increase. There was clearly some room for crypto gains in this time span.
So let's see. How would that $1,000 investment in Ripple (XRP) have performed over the past three years? Ah, yes -- here's the chart I was looking for:
XRP Price data by YCharts
That's a gain of 18% in three years, adding $180 to your hypothetical investment. The compound annual growth rate (CAGR) works out to 5.7%, trailing behind the S&P 500 (SNPINDEX: ^GSPC) stock market index's CAGR at 8%.
Why is Ripple lagging behind other cryptocurrencies?
First and foremost, Ripple investors pay close attention to the SEC lawsuit. The legal challenge knocked Ripple out of action in all U.S. cryptocurrency trading platforms for more than two years. The return to trading on services such as Coinbase was not a complete triumph, but a partial courtroom win with the potential to drag out across several years of appeals. How incomplete is the victory? Well, fairly rambunctious trading platforms like Robinhood (NASDAQ: HOOD) still aren't comfortable with Ripple's legal situation and have not yet enabled trading of the cryptocurrency.
So the current state of relative normalcy is just that -- a small step forward with miles left to go. Ripple investors are wise to keep a close eye on the initial decision, the upcoming trial, and whatever comes next. Nothing has been written in stone yet.
Apart from that, the Ripple Payments (formerly RippleNet) international payments network has shown some progress over the last few years. For example, the Republic of Palau is developing an official stablecoin based on Ripple's technology. European regulators are working closely with Ripple labs to develop a border-crossing payments framework, currently in an early testing phase. It's just not easy to focus global attention on these modest business improvements in the shadow of that potentially game-changing legal drama.
And now I'm back in a New York courtroom again. Alongside other Ripple investors, I pay attention to the developments in those halls of justice.
Where will Ripple go from here?
The final outcome in the SEC lawsuit holds a lot of power over Ripple's investment value. That's true in the short term, as SEC-related headlines continue to draw Ripple's price chart, and also for the long haul as Judge Torres (and perhaps the appellate courts of the future) build important regulatory principles from this case.
As it stands, the legal proceedings have suggested that at least some cryptocurrencies (such as Ripple) should not be treated as stock-like securities, and might therefore not be subject to the SEC's rulebook at all. That ruling applies when buyers and sellers are ordinary investors or simply users of the Ripple Payments transactional system. But even that verdict wasn't a complete win, giving the SEC room to treat Ripple like security when it's sold directly from Ripple Labs to institutional investors.
And it could take years to reach final clarity. The U.S. District Court for the Southern District of New York was just the first stop of perhaps many, maybe including the Court of Appeals and the Supreme Court. This early step is already three years in the making, and still ongoing with hearings and trials scheduled in 2024.
I'm not saying that the patent suit Oracle (NYSE: ORCL) filed against Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) in 2010 is a perfect example of what to expect, since one proceeding was a straightforward patent case involving two technology giants and the other is a government agency attempting to enforce its trading rules against the launch of a new digital currency.
The cases differ fundamentally in nature. Still, the showdown over Java code in Android phones showed how long a potentially game-changing legal proceeding can take, especially in pioneering domains like the early days of smartphones or the emerging cryptocurrency market. The Supreme Court slammed the final gavel for that drama in 2021, 11 years after the original complaint. While it's not possible to predict the exact timeline, cases like these can evidently span over a decade. The parties could also settle or stop pursuing appeals much earlier -- I'm just talking about the potential for a lengthy drama here.
In the meantime, I expect Ripple Labs to find some middle ground with U.S.-based cryptocurrency trading platforms and carry on its global business as usual. The American market is of essential importance, and the Ripple community would certainly welcome a favorable final verdict -- but again, this is a global project with inherently international ambitions.
That's why I think Ripple's price chart will eventually detach from the lawsuit progress in many ways. The cryptocurrency should eventually be valued by its acceptance and use in real-world international payment usage. In that field, Ripple keeps taking baby steps forward with no setbacks to speak of so far.
So Ripple's returns have not been inspiring over the last three years but I expect better days ahead. There's no source of immediate rocket fuel on the horizon quite yet, but those small steps can add up over time. In the end, I see Ripple as a solid choice for patient investors with a long-term mindset. Day traders and other short-term holders should probably look for more volatile ideas elsewhere.
Should you invest $1,000 in XRP right now?
Before you buy stock in XRP, 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 XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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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. Anders Bylund has positions in Alphabet, Bitcoin, Ethereum, and XRP. The Motley Fool has positions in and recommends Alphabet, Bitcoin, Ethereum, Oracle, and XRP. 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.
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European regulators are working closely with Ripple labs to develop a border-crossing payments framework, currently in an early testing phase. That's true in the short term, as SEC-related headlines continue to draw Ripple's price chart, and also for the long haul as Judge Torres (and perhaps the appellate courts of the future) build important regulatory principles from this case. Still, the showdown over Java code in Android phones showed how long a potentially game-changing legal proceeding can take, especially in pioneering domains like the early days of smartphones or the emerging cryptocurrency market.
|
First and foremost, Ripple investors pay close attention to the SEC lawsuit. But even that verdict wasn't a complete win, giving the SEC room to treat Ripple like security when it's sold directly from Ripple Labs to institutional investors. Before you buy stock in XRP, 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 XRP wasn’t one of them.
|
The legal challenge knocked Ripple out of action in all U.S. cryptocurrency trading platforms for more than two years. But even that verdict wasn't a complete win, giving the SEC room to treat Ripple like security when it's sold directly from Ripple Labs to institutional investors. Before you buy stock in XRP, 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 XRP wasn’t one of them.
|
First and foremost, Ripple investors pay close attention to the SEC lawsuit. Where will Ripple go from here? Before you buy stock in XRP, 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 XRP wasn’t one of them.
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ddfe106b-3886-4030-a171-84e4238f4625
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713003.0
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2023-12-12 00:00:00 UTC
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US FTC finalizes car-buying rules to rein in junk fees, bait-and-switch
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DCOMP
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https://www.nasdaq.com/articles/us-ftc-finalizes-car-buying-rules-to-rein-in-junk-fees-bait-and-switch
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nan
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nan
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Adds comment from NADA, Carvana
WASHINGTON, Dec 12 (Reuters) - Auto dealers will be barred from luring vehicle buyers with promises they do not keep and will not be able to charge junk fees - like a service contract for an oil change for an electric vehicle - under a new rule, the U.S. Federal Trade Commission said on Tuesday.
The rule could fundamentally change how millions of Americans buy vehicles annually by requiring up-front pricing in dealers' advertising and sales discussions, and bars the sale of add-on products or services that confer no benefit to consumers.
The FTC, in a rule finalized on Tuesday that was first announced in 2022, said it had been concerned about dealers that allegedly targeted young men and women in the military.
"By the age of 24, around 20% of young servicemembers have at least $20,000 in auto debt," the agency said in a statement which said that the rule "prohibits dealers from lying to servicemembers and other consumers about important cost and financing information."
Consumer Reports said the FTC proposal would bar "shady tactics" by car dealers that can boost the cost of new vehicles.
Sam Levine, director of the FTC's Bureau of Consumer Protection, said that consumers often begin car shopping by comparing prices before going to a dealer.
"The reality is once you actually get to the dealership, you find the car, you find the model you like, it's in stock, and you get closer to the end of the transaction, you realize that the price that's been advertised is not actually the price that you can drive away with the car with," he said.
The rule, which attracted sharp criticism from the National Automobile Dealers Association (NADA), takes aim at practices the FTC says costs consumers $3.4 billion annually and prolongs the vehicle-shopping process.
NADA President and CEO Mike Stanton said the rule was "heavy-handed bureaucratic overreach and redundancy at its worst, that will needlessly lengthen the car sales process by forcing new layers of disclosures and complexity into the transaction."
"We are exploring all options on how to keep this ill-conceived rule from taking effect," said Stanton in an email.
Carvana's CVNA.N Chief Brand Officer Ryan Keeton said the company has championed transparency. "We support efforts to introduce more transparency across the industry to help consumers make informed decisions on their own terms," Keeton said in an email comment.
While the FTC did not name any companies in its release, other of the biggest auto dealers include AutoNation AN.N, Penske PAG.N, Lithia Motors LAD.N, CarMax KMX.N, Group 1 Automotive GPI.N and Sonic Automotive SAH.N. None had an immediate comment.
The rule would specifically bar misrepresentations about price, cost and the total cost of the vehicle.
Dealers will also be required to obtain consent for any charges they add to a vehicle's price. They would be barred from charging for add-ons that are useless to the buyer, such as selling nitrogen-filled tires that contain no more nitrogen than normal air.
The Alliance for Automotive Innovation, representing General Motors GM.N, Toyota Motor 7203.T, Volkswagen VOWG_p.DE and other major automakers, raised concerns about the FTC plan and warned of "excessive regulation and micromanagement of the sales experience."
(Reporting by Diane Bartz and David Shepardson in Washington; Editing by Matthew Lewis, Mark Porter and Daniel Wallis)
((Diane.Bartz@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.
|
The rule, which attracted sharp criticism from the National Automobile Dealers Association (NADA), takes aim at practices the FTC says costs consumers $3.4 billion annually and prolongs the vehicle-shopping process. NADA President and CEO Mike Stanton said the rule was "heavy-handed bureaucratic overreach and redundancy at its worst, that will needlessly lengthen the car sales process by forcing new layers of disclosures and complexity into the transaction." "We support efforts to introduce more transparency across the industry to help consumers make informed decisions on their own terms," Keeton said in an email comment.
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Adds comment from NADA, Carvana WASHINGTON, Dec 12 (Reuters) - Auto dealers will be barred from luring vehicle buyers with promises they do not keep and will not be able to charge junk fees - like a service contract for an oil change for an electric vehicle - under a new rule, the U.S. Federal Trade Commission said on Tuesday. The rule could fundamentally change how millions of Americans buy vehicles annually by requiring up-front pricing in dealers' advertising and sales discussions, and bars the sale of add-on products or services that confer no benefit to consumers. NADA President and CEO Mike Stanton said the rule was "heavy-handed bureaucratic overreach and redundancy at its worst, that will needlessly lengthen the car sales process by forcing new layers of disclosures and complexity into the transaction."
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Adds comment from NADA, Carvana WASHINGTON, Dec 12 (Reuters) - Auto dealers will be barred from luring vehicle buyers with promises they do not keep and will not be able to charge junk fees - like a service contract for an oil change for an electric vehicle - under a new rule, the U.S. Federal Trade Commission said on Tuesday. The rule could fundamentally change how millions of Americans buy vehicles annually by requiring up-front pricing in dealers' advertising and sales discussions, and bars the sale of add-on products or services that confer no benefit to consumers. Consumer Reports said the FTC proposal would bar "shady tactics" by car dealers that can boost the cost of new vehicles.
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Adds comment from NADA, Carvana WASHINGTON, Dec 12 (Reuters) - Auto dealers will be barred from luring vehicle buyers with promises they do not keep and will not be able to charge junk fees - like a service contract for an oil change for an electric vehicle - under a new rule, the U.S. Federal Trade Commission said on Tuesday. Consumer Reports said the FTC proposal would bar "shady tactics" by car dealers that can boost the cost of new vehicles. "We support efforts to introduce more transparency across the industry to help consumers make informed decisions on their own terms," Keeton said in an email comment.
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3543118f-9027-48d0-accc-3bd140865e94
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713004.0
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2023-12-12 00:00:00 UTC
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Consumer Sector Update for 12/12/2023: FDX, LCID, SNCY, APO, HAS
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DCOMP
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https://www.nasdaq.com/articles/consumer-sector-update-for-12-12-2023%3A-fdx-lcid-sncy-apo-has
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nan
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nan
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Consumer stocks climbed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each adding 0.2%.
Redbook US same-store sales in the week ended Dec. 9 rose 3.4% from a year earlier after a 3% increase in the previous week.
In corporate news, FedEx (FDX) is expected to report "strong" fiscal Q2 results on Dec. 19 with sequential improvement in Ground line-haul cost savings actions and better performance in both Express and Freight services, UBS said in a note. The investment firm reiterated its buy rating on the company with a $323 price target. FedEx shares rose 0.8%.
Lucid (LCID) shares slumped 8.6%, a day after the company said Sherry House is stepping down as chief financial officer to pursue other opportunities, effective immediately.
Sun Country Airlines (SNCY) tumbled 6.4%, a day after announcing the pricing of a secondary public offering of 4 million common shares being sold by an affiliate of funds related to Apollo Global Management (APO).
Hasbro (HAS) was shedding 1.1% after saying in a regulatory filing that it expects to lay off about 900 employees, as an additional step in the company's efforts to revise its cost and organizational structure.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In corporate news, FedEx (FDX) is expected to report "strong" fiscal Q2 results on Dec. 19 with sequential improvement in Ground line-haul cost savings actions and better performance in both Express and Freight services, UBS said in a note. Lucid (LCID) shares slumped 8.6%, a day after the company said Sherry House is stepping down as chief financial officer to pursue other opportunities, effective immediately. Sun Country Airlines (SNCY) tumbled 6.4%, a day after announcing the pricing of a secondary public offering of 4 million common shares being sold by an affiliate of funds related to Apollo Global Management (APO).
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Consumer stocks climbed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each adding 0.2%. FedEx shares rose 0.8%. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Consumer stocks climbed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each adding 0.2%. In corporate news, FedEx (FDX) is expected to report "strong" fiscal Q2 results on Dec. 19 with sequential improvement in Ground line-haul cost savings actions and better performance in both Express and Freight services, UBS said in a note. Sun Country Airlines (SNCY) tumbled 6.4%, a day after announcing the pricing of a secondary public offering of 4 million common shares being sold by an affiliate of funds related to Apollo Global Management (APO).
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Consumer stocks climbed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each adding 0.2%. The investment firm reiterated its buy rating on the company with a $323 price target. FedEx shares rose 0.8%.
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e54b3eb9-c3c0-46af-a0a9-ff6ef8a38b4c
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713005.0
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2023-12-12 00:00:00 UTC
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Financial Sector Update for 12/12/2023: CG, KKR, CNC, BK
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DCOMP
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https://www.nasdaq.com/articles/financial-sector-update-for-12-12-2023%3A-cg-kkr-cnc-bk
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nan
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nan
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Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead by 0.6%.
The Philadelphia Housing Index climbed 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) edged up 0.1%.
Bitcoin (BTC-USD) was down fractionally to $41,220, and the yield for 10-year US Treasuries dropped 3 basis points to 4.21%.
In economic news, the US consumer price index rose by 0.1% in November, following a flat reading in October, Bureau of Labor Statistics data showed. Annually, inflation decelerated to 3.1% increase from a 3.2% rise in October.
In corporate news, Carlyle Group (CG) is exploring options to exit Acrotec, including a potential sale or listing of the luxury watch parts maker, Bloomberg reported Tuesday. Carlyle shares rose 0.4%.
KKR (KKR) is in talks to buy a 50% stake in health-care technology company Cotiviti from Veritas Capital, according to media reports. A potential deal would value Cotiviti at $10 billion to $11 billion, Bloomberg reported. Separately, KKR is in late-stage discussions for a potential acquisition of Iris Software in a deal that may value the UK software firm at about 3 billion pounds ($3.76 billion), Bloomberg reported. KKR shares were rising 0.6%.
Centene (CNC) affirmed its 2023 earnings outlook while raising profitability expectations for the upcoming year and announcing a $4 billion increase to its stock-repurchase program. Its shares gained 3%.
Bank of New York Mellon (BK) said Tuesday it is expanding its real estate presence in Lake Mary, Florida, with plans for a 300,000-square-foot campus across two locations. The bank advanced 0.6%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In economic news, the US consumer price index rose by 0.1% in November, following a flat reading in October, Bureau of Labor Statistics data showed. In corporate news, Carlyle Group (CG) is exploring options to exit Acrotec, including a potential sale or listing of the luxury watch parts maker, Bloomberg reported Tuesday. Bank of New York Mellon (BK) said Tuesday it is expanding its real estate presence in Lake Mary, Florida, with plans for a 300,000-square-foot campus across two locations.
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Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead by 0.6%. The Philadelphia Housing Index climbed 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) edged up 0.1%. A potential deal would value Cotiviti at $10 billion to $11 billion, Bloomberg reported.
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Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead by 0.6%. In corporate news, Carlyle Group (CG) is exploring options to exit Acrotec, including a potential sale or listing of the luxury watch parts maker, Bloomberg reported Tuesday. Separately, KKR is in late-stage discussions for a potential acquisition of Iris Software in a deal that may value the UK software firm at about 3 billion pounds ($3.76 billion), Bloomberg reported.
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Carlyle shares rose 0.4%. A potential deal would value Cotiviti at $10 billion to $11 billion, Bloomberg reported. KKR shares were rising 0.6%.
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d408f419-d00b-4436-b0ca-d7de358d91c3
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713006.0
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2023-12-12 00:00:00 UTC
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Technology Sector Update for 12/12/2023: AAPL, ORCL, GOOG, NVEE
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DCOMP
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https://www.nasdaq.com/articles/technology-sector-update-for-12-12-2023%3A-aapl-orcl-goog-nvee
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nan
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nan
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Tech stocks were mixed in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) down 0.3%.
The Philadelphia Semiconductor index added 0.7%.
In corporate news, Apple (AAPL) is offering to allow competitors access to its tap-and-go mobile payment systems, which are used in mobile wallets, Reuters reported Tuesday. The move may resolve EU antitrust charges and avert a possible large fine, the report said. Apple shares rose 0.6%.
Oracle (ORCL) shares tumbled 12%. Analysts cut their price targets for the company after its fiscal Q2 results late Monday showed revenue missed estimates.
Alphabet's (GOOG) Google lost an antitrust trial to Epic Games after a US court ruled Monday that the search giant was running an illegal monopoly with its app store and payment system. Alphabet shares fell 0.8%.
NV5 Global (NVEE) shares rose 1% after the company won a one-year $9 million contract from a Northern California utility to provide vegetation management services.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Analysts cut their price targets for the company after its fiscal Q2 results late Monday showed revenue missed estimates. Alphabet's (GOOG) Google lost an antitrust trial to Epic Games after a US court ruled Monday that the search giant was running an illegal monopoly with its app store and payment system. NV5 Global (NVEE) shares rose 1% after the company won a one-year $9 million contract from a Northern California utility to provide vegetation management services.
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Tech stocks were mixed in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) down 0.3%. In corporate news, Apple (AAPL) is offering to allow competitors access to its tap-and-go mobile payment systems, which are used in mobile wallets, Reuters reported Tuesday. Apple shares rose 0.6%.
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Tech stocks were mixed in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) down 0.3%. Alphabet's (GOOG) Google lost an antitrust trial to Epic Games after a US court ruled Monday that the search giant was running an illegal monopoly with its app store and payment system. NV5 Global (NVEE) shares rose 1% after the company won a one-year $9 million contract from a Northern California utility to provide vegetation management services.
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Tech stocks were mixed in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) down 0.3%. Apple shares rose 0.6%. Alphabet shares fell 0.8%.
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182327e6-5aa3-494b-bce9-c9d2ebfc4aa2
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713007.0
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2023-12-12 00:00:00 UTC
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Notable Tuesday Option Activity: DASH, SCHL, HASI
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DCOMP
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-dash-schl-hasi
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in DoorDash Inc (Symbol: DASH), where a total of 20,740 contracts have traded so far, representing approximately 2.1 million underlying shares. That amounts to about 44.4% of DASH's average daily trading volume over the past month of 4.7 million shares. Especially high volume was seen for the $70 strike call option expiring February 16, 2024, with 5,010 contracts trading so far today, representing approximately 501,000 underlying shares of DASH. Below is a chart showing DASH's trailing twelve month trading history, with the $70 strike highlighted in orange:
Scholastic Corp (Symbol: SCHL) options are showing a volume of 725 contracts thus far today. That number of contracts represents approximately 72,500 underlying shares, working out to a sizeable 44% of SCHL's average daily trading volume over the past month, of 164,920 shares. Particularly high volume was seen for the $50 strike call option expiring December 15, 2023, with 481 contracts trading so far today, representing approximately 48,100 underlying shares of SCHL. Below is a chart showing SCHL's trailing twelve month trading history, with the $50 strike highlighted in orange:
And Hannon Armstrong Sustainable Infrastructure Capital Inc (Symbol: HASI) options are showing a volume of 5,057 contracts thus far today. That number of contracts represents approximately 505,700 underlying shares, working out to a sizeable 43.9% of HASI's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $25 strike put option expiring December 20, 2024, with 4,700 contracts trading so far today, representing approximately 470,000 underlying shares of HASI. Below is a chart showing HASI's trailing twelve month trading history, with the $25 strike highlighted in orange:
For the various different available expirations for DASH options, SCHL options, or HASI options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
MLPI shares outstanding history
Top Ten Hedge Funds Holding SWC
ETFs Holding SCHW
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $70 strike call option expiring February 16, 2024, with 5,010 contracts trading so far today, representing approximately 501,000 underlying shares of DASH. Particularly high volume was seen for the $50 strike call option expiring December 15, 2023, with 481 contracts trading so far today, representing approximately 48,100 underlying shares of SCHL. Especially high volume was seen for the $25 strike put option expiring December 20, 2024, with 4,700 contracts trading so far today, representing approximately 470,000 underlying shares of HASI.
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Below is a chart showing DASH's trailing twelve month trading history, with the $70 strike highlighted in orange: Scholastic Corp (Symbol: SCHL) options are showing a volume of 725 contracts thus far today. That number of contracts represents approximately 72,500 underlying shares, working out to a sizeable 44% of SCHL's average daily trading volume over the past month, of 164,920 shares. That number of contracts represents approximately 505,700 underlying shares, working out to a sizeable 43.9% of HASI's average daily trading volume over the past month, of 1.2 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in DoorDash Inc (Symbol: DASH), where a total of 20,740 contracts have traded so far, representing approximately 2.1 million underlying shares. Particularly high volume was seen for the $50 strike call option expiring December 15, 2023, with 481 contracts trading so far today, representing approximately 48,100 underlying shares of SCHL. Below is a chart showing HASI's trailing twelve month trading history, with the $25 strike highlighted in orange: For the various different available expirations for DASH options, SCHL options, or HASI options, visit StockOptionsChannel.com.
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That number of contracts represents approximately 505,700 underlying shares, working out to a sizeable 43.9% of HASI's average daily trading volume over the past month, of 1.2 million shares. Below is a chart showing HASI's trailing twelve month trading history, with the $25 strike highlighted in orange: For the various different available expirations for DASH options, SCHL options, or HASI options, visit StockOptionsChannel.com. Today's Most Active Call & Put Options of the S&P 500 » Also see: MLPI shares outstanding history Top Ten Hedge Funds Holding SWC ETFs Holding SCHW The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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46003314-1001-4c72-865d-b4ba3621d812
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713008.0
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2023-12-12 00:00:00 UTC
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Noteworthy Tuesday Option Activity: KLAC, WEST, AIG
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-klac-west-aig
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in KLA Corp (Symbol: KLAC), where a total volume of 3,974 contracts has been traded thus far today, a contract volume which is representative of approximately 397,400 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42% of KLAC's average daily trading volume over the past month, of 947,075 shares. Especially high volume was seen for the $820 strike call option expiring June 21, 2024, with 789 contracts trading so far today, representing approximately 78,900 underlying shares of KLAC. Below is a chart showing KLAC's trailing twelve month trading history, with the $820 strike highlighted in orange:
Westrock Coffee Co (Symbol: WEST) options are showing a volume of 1,109 contracts thus far today. That number of contracts represents approximately 110,900 underlying shares, working out to a sizeable 41.7% of WEST's average daily trading volume over the past month, of 265,765 shares. Especially high volume was seen for the $9 strike put option expiring March 15, 2024, with 500 contracts trading so far today, representing approximately 50,000 underlying shares of WEST. Below is a chart showing WEST's trailing twelve month trading history, with the $9 strike highlighted in orange:
And American International Group Inc (Symbol: AIG) options are showing a volume of 13,313 contracts thus far today. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 41.4% of AIG's average daily trading volume over the past month, of 3.2 million shares. Especially high volume was seen for the $62.50 strike call option expiring December 15, 2023, with 5,044 contracts trading so far today, representing approximately 504,400 underlying shares of AIG. Below is a chart showing AIG's trailing twelve month trading history, with the $62.50 strike highlighted in orange:
For the various different available expirations for KLAC options, WEST options, or AIG options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
TQNT Insider Buying
ORCL shares outstanding history
VEEE 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.
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Especially high volume was seen for the $820 strike call option expiring June 21, 2024, with 789 contracts trading so far today, representing approximately 78,900 underlying shares of KLAC. Especially high volume was seen for the $9 strike put option expiring March 15, 2024, with 500 contracts trading so far today, representing approximately 50,000 underlying shares of WEST. Especially high volume was seen for the $62.50 strike call option expiring December 15, 2023, with 5,044 contracts trading so far today, representing approximately 504,400 underlying shares of AIG.
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Below is a chart showing KLAC's trailing twelve month trading history, with the $820 strike highlighted in orange: Westrock Coffee Co (Symbol: WEST) options are showing a volume of 1,109 contracts thus far today. That number of contracts represents approximately 110,900 underlying shares, working out to a sizeable 41.7% of WEST's average daily trading volume over the past month, of 265,765 shares. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 41.4% of AIG's average daily trading volume over the past month, of 3.2 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in KLA Corp (Symbol: KLAC), where a total volume of 3,974 contracts has been traded thus far today, a contract volume which is representative of approximately 397,400 underlying shares (given that every 1 contract represents 100 underlying shares). Especially high volume was seen for the $820 strike call option expiring June 21, 2024, with 789 contracts trading so far today, representing approximately 78,900 underlying shares of KLAC. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 41.4% of AIG's average daily trading volume over the past month, of 3.2 million shares.
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Especially high volume was seen for the $820 strike call option expiring June 21, 2024, with 789 contracts trading so far today, representing approximately 78,900 underlying shares of KLAC. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 41.4% of AIG's average daily trading volume over the past month, of 3.2 million shares. Below is a chart showing AIG's trailing twelve month trading history, with the $62.50 strike highlighted in orange: For the various different available expirations for KLAC options, WEST options, or AIG options, visit StockOptionsChannel.com.
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59ee9245-35fa-4ac0-80bf-aedf45197a1c
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713009.0
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2023-12-12 00:00:00 UTC
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Notable Tuesday Option Activity: WH, HRT, GOOG
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DCOMP
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-wh-hrt-goog
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Wyndham Hotels & Resorts Inc (Symbol: WH), where a total volume of 3,931 contracts has been traded thus far today, a contract volume which is representative of approximately 393,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.8% of WH's average daily trading volume over the past month, of 805,160 shares. Particularly high volume was seen for the $75 strike call option expiring December 15, 2023, with 1,737 contracts trading so far today, representing approximately 173,700 underlying shares of WH. Below is a chart showing WH's trailing twelve month trading history, with the $75 strike highlighted in orange:
HireRight Holdings Corp (Symbol: HRT) saw options trading volume of 1,878 contracts, representing approximately 187,800 underlying shares or approximately 48.8% of HRT's average daily trading volume over the past month, of 384,940 shares. Especially high volume was seen for the $12.50 strike put option expiring January 19, 2024, with 927 contracts trading so far today, representing approximately 92,700 underlying shares of HRT. Below is a chart showing HRT's trailing twelve month trading history, with the $12.50 strike highlighted in orange:
And Alphabet Inc (Symbol: GOOG) saw options trading volume of 100,604 contracts, representing approximately 10.1 million underlying shares or approximately 48.3% of GOOG's average daily trading volume over the past month, of 20.8 million shares. Particularly high volume was seen for the $134 strike call option expiring December 15, 2023, with 7,677 contracts trading so far today, representing approximately 767,700 underlying shares of GOOG. Below is a chart showing GOOG's trailing twelve month trading history, with the $134 strike highlighted in orange:
For the various different available expirations for WH options, HRT options, or GOOG options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Cathie Wood Stock Picks
TRUP Price Target
HNGR Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $75 strike call option expiring December 15, 2023, with 1,737 contracts trading so far today, representing approximately 173,700 underlying shares of WH. Especially high volume was seen for the $12.50 strike put option expiring January 19, 2024, with 927 contracts trading so far today, representing approximately 92,700 underlying shares of HRT. Particularly high volume was seen for the $134 strike call option expiring December 15, 2023, with 7,677 contracts trading so far today, representing approximately 767,700 underlying shares of GOOG.
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Particularly high volume was seen for the $75 strike call option expiring December 15, 2023, with 1,737 contracts trading so far today, representing approximately 173,700 underlying shares of WH. Below is a chart showing WH's trailing twelve month trading history, with the $75 strike highlighted in orange: HireRight Holdings Corp (Symbol: HRT) saw options trading volume of 1,878 contracts, representing approximately 187,800 underlying shares or approximately 48.8% of HRT's average daily trading volume over the past month, of 384,940 shares. Below is a chart showing HRT's trailing twelve month trading history, with the $12.50 strike highlighted in orange: And Alphabet Inc (Symbol: GOOG) saw options trading volume of 100,604 contracts, representing approximately 10.1 million underlying shares or approximately 48.3% of GOOG's average daily trading volume over the past month, of 20.8 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Wyndham Hotels & Resorts Inc (Symbol: WH), where a total volume of 3,931 contracts has been traded thus far today, a contract volume which is representative of approximately 393,100 underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing WH's trailing twelve month trading history, with the $75 strike highlighted in orange: HireRight Holdings Corp (Symbol: HRT) saw options trading volume of 1,878 contracts, representing approximately 187,800 underlying shares or approximately 48.8% of HRT's average daily trading volume over the past month, of 384,940 shares. Below is a chart showing HRT's trailing twelve month trading history, with the $12.50 strike highlighted in orange: And Alphabet Inc (Symbol: GOOG) saw options trading volume of 100,604 contracts, representing approximately 10.1 million underlying shares or approximately 48.3% of GOOG's average daily trading volume over the past month, of 20.8 million shares.
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Particularly high volume was seen for the $75 strike call option expiring December 15, 2023, with 1,737 contracts trading so far today, representing approximately 173,700 underlying shares of WH. Below is a chart showing WH's trailing twelve month trading history, with the $75 strike highlighted in orange: HireRight Holdings Corp (Symbol: HRT) saw options trading volume of 1,878 contracts, representing approximately 187,800 underlying shares or approximately 48.8% of HRT's average daily trading volume over the past month, of 384,940 shares. Below is a chart showing HRT's trailing twelve month trading history, with the $12.50 strike highlighted in orange: And Alphabet Inc (Symbol: GOOG) saw options trading volume of 100,604 contracts, representing approximately 10.1 million underlying shares or approximately 48.3% of GOOG's average daily trading volume over the past month, of 20.8 million shares.
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40d35e2e-d98e-4185-ab31-edfbd7dd161d
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713010.0
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2023-12-12 00:00:00 UTC
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Why Broadcom Stock Was Climbing Again Today
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DCOMP
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https://www.nasdaq.com/articles/why-broadcom-stock-was-climbing-again-today
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nan
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nan
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Shares of Broadcom (NASDAQ: AVGO), the semiconductor company known for networking and infrastructure solutions, were moving higher again today. This followed gains from a better-than-expected earnings report, the closure of its acquisition of VMware, and an analyst upgrade yesterday.
Today, the stock was gaining on news of a new partnership with Caltech. As a result, the stock was up 3.5% as of 1:30 p.m. ET.
Image source: Getty Images.
Broadcom jumps again
In a press release last night, Broadcom and Caltech announced a new multiyear partnership to advance quantum science research and discoveries to develop new innovative technologies and applications.
Broadcom will make a significant investment in the Broadcom Quantum Laboratory at Caltech, a physical space where experts in fields like quantum computing, quantum sensing, and quantum engineering, and the two partners will host an annual symposium on relevant research. CEO Hock Tan said, "This multiyear investment and engineering collaboration reinforces our continued commitment to supporting advanced R&D [research and development] and represents our relentless pursuit of innovation."
What the partnership means for Broadcom
Caltech is regarded as one the world's foremost institutions for quantum science, and the partnership could give Broadcom an edge in the emerging quantum computing field. Quantum computing uses the laws of quantum mechanics to solve problems that are too complex for traditional computers, and its use cases range from artificial intelligence (AI) to drug discovery.
The news, which comes shortly after the closure of the VMware acquisition, shows the company is still squarely focused on research and development, even as it will spend the next year integrating VMware and cutting costs at the new unit.
The partnership with Caltech could also give Broadcom a key pipeline to recruiting new researchers, which can be highly competitive in the tech sector. Given the number of ways this partnership can benefit Broadcom, it's not surprising investors are reacting positively to the news.
Should you invest $1,000 in Broadcom right now?
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*Stock Advisor returns as of December 11, 2023
Jeremy Bowman has positions in Broadcom. The Motley Fool recommends Broadcom. 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.
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Shares of Broadcom (NASDAQ: AVGO), the semiconductor company known for networking and infrastructure solutions, were moving higher again today. CEO Hock Tan said, "This multiyear investment and engineering collaboration reinforces our continued commitment to supporting advanced R&D [research and development] and represents our relentless pursuit of innovation." The partnership with Caltech could also give Broadcom a key pipeline to recruiting new researchers, which can be highly competitive in the tech sector.
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Broadcom jumps again In a press release last night, Broadcom and Caltech announced a new multiyear partnership to advance quantum science research and discoveries to develop new innovative technologies and applications. Broadcom will make a significant investment in the Broadcom Quantum Laboratory at Caltech, a physical space where experts in fields like quantum computing, quantum sensing, and quantum engineering, and the two partners will host an annual symposium on relevant research. Before you buy stock in Broadcom, 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 Broadcom wasn't one of them.
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Broadcom will make a significant investment in the Broadcom Quantum Laboratory at Caltech, a physical space where experts in fields like quantum computing, quantum sensing, and quantum engineering, and the two partners will host an annual symposium on relevant research. What the partnership means for Broadcom Caltech is regarded as one the world's foremost institutions for quantum science, and the partnership could give Broadcom an edge in the emerging quantum computing field. Before you buy stock in Broadcom, 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 Broadcom wasn't one of them.
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Today, the stock was gaining on news of a new partnership with Caltech. Before you buy stock in Broadcom, 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 Broadcom wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Jeremy Bowman has positions in Broadcom.
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89f42a2f-9a5b-4878-b2aa-3aed7e55e9e8
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713011.0
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2023-12-12 00:00:00 UTC
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Notable Tuesday Option Activity: KHC, LIN, PLNT
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DCOMP
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-khc-lin-plnt
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Kraft Heinz Co (Symbol: KHC), where a total of 35,641 contracts have traded so far, representing approximately 3.6 million underlying shares. That amounts to about 41% of KHC's average daily trading volume over the past month of 8.7 million shares. Especially high volume was seen for the $37.50 strike call option expiring December 15, 2023, with 22,279 contracts trading so far today, representing approximately 2.2 million underlying shares of KHC. Below is a chart showing KHC's trailing twelve month trading history, with the $37.50 strike highlighted in orange:
Linde PLC (Symbol: LIN) options are showing a volume of 6,647 contracts thus far today. That number of contracts represents approximately 664,700 underlying shares, working out to a sizeable 40.3% of LIN's average daily trading volume over the past month, of 1.6 million shares. Especially high volume was seen for the $420 strike put option expiring January 19, 2024, with 573 contracts trading so far today, representing approximately 57,300 underlying shares of LIN. Below is a chart showing LIN's trailing twelve month trading history, with the $420 strike highlighted in orange:
And Planet Fitness Inc (Symbol: PLNT) options are showing a volume of 4,344 contracts thus far today. That number of contracts represents approximately 434,400 underlying shares, working out to a sizeable 40.2% of PLNT's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $77.50 strike call option expiring January 19, 2024, with 640 contracts trading so far today, representing approximately 64,000 underlying shares of PLNT. Below is a chart showing PLNT's trailing twelve month trading history, with the $77.50 strike highlighted in orange:
For the various different available expirations for KHC options, LIN options, or PLNT options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Top Ten Hedge Funds Holding MZZ
FHN Stock Predictions
Funds Holding PED
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $37.50 strike call option expiring December 15, 2023, with 22,279 contracts trading so far today, representing approximately 2.2 million underlying shares of KHC. Especially high volume was seen for the $420 strike put option expiring January 19, 2024, with 573 contracts trading so far today, representing approximately 57,300 underlying shares of LIN. Especially high volume was seen for the $77.50 strike call option expiring January 19, 2024, with 640 contracts trading so far today, representing approximately 64,000 underlying shares of PLNT.
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Below is a chart showing KHC's trailing twelve month trading history, with the $37.50 strike highlighted in orange: Linde PLC (Symbol: LIN) options are showing a volume of 6,647 contracts thus far today. That number of contracts represents approximately 664,700 underlying shares, working out to a sizeable 40.3% of LIN's average daily trading volume over the past month, of 1.6 million shares. That number of contracts represents approximately 434,400 underlying shares, working out to a sizeable 40.2% of PLNT's average daily trading volume over the past month, of 1.1 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Kraft Heinz Co (Symbol: KHC), where a total of 35,641 contracts have traded so far, representing approximately 3.6 million underlying shares. Especially high volume was seen for the $37.50 strike call option expiring December 15, 2023, with 22,279 contracts trading so far today, representing approximately 2.2 million underlying shares of KHC. Especially high volume was seen for the $77.50 strike call option expiring January 19, 2024, with 640 contracts trading so far today, representing approximately 64,000 underlying shares of PLNT.
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Especially high volume was seen for the $37.50 strike call option expiring December 15, 2023, with 22,279 contracts trading so far today, representing approximately 2.2 million underlying shares of KHC. That number of contracts represents approximately 434,400 underlying shares, working out to a sizeable 40.2% of PLNT's average daily trading volume over the past month, of 1.1 million shares. Below is a chart showing PLNT's trailing twelve month trading history, with the $77.50 strike highlighted in orange: For the various different available expirations for KHC options, LIN options, or PLNT options, visit StockOptionsChannel.com.
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4fb2b3be-4829-4edf-8282-de3b448facd9
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713012.0
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2023-12-12 00:00:00 UTC
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Notable Tuesday Option Activity: DGX, NRG, FICO
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DCOMP
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-dgx-nrg-fico
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nan
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nan
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Quest Diagnostics, Inc. (Symbol: DGX), where a total volume of 3,994 contracts has been traded thus far today, a contract volume which is representative of approximately 399,400 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45.5% of DGX's average daily trading volume over the past month, of 877,510 shares. Particularly high volume was seen for the $140 strike call option expiring December 15, 2023, with 2,022 contracts trading so far today, representing approximately 202,200 underlying shares of DGX. Below is a chart showing DGX's trailing twelve month trading history, with the $140 strike highlighted in orange:
NRG Energy Inc (Symbol: NRG) saw options trading volume of 14,452 contracts, representing approximately 1.4 million underlying shares or approximately 42.3% of NRG's average daily trading volume over the past month, of 3.4 million shares. Particularly high volume was seen for the $48 strike call option expiring March 15, 2024, with 7,011 contracts trading so far today, representing approximately 701,100 underlying shares of NRG. Below is a chart showing NRG's trailing twelve month trading history, with the $48 strike highlighted in orange:
And Fair Isaac Corp (Symbol: FICO) options are showing a volume of 690 contracts thus far today. That number of contracts represents approximately 69,000 underlying shares, working out to a sizeable 41.9% of FICO's average daily trading volume over the past month, of 164,825 shares. Particularly high volume was seen for the $1130 strike call option expiring December 15, 2023, with 190 contracts trading so far today, representing approximately 19,000 underlying shares of FICO. Below is a chart showing FICO's trailing twelve month trading history, with the $1130 strike highlighted in orange:
For the various different available expirations for DGX options, NRG options, or FICO options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
LABP Historical Stock Prices
Top Ten Hedge Funds Holding AEP
Funds Holding VHC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $140 strike call option expiring December 15, 2023, with 2,022 contracts trading so far today, representing approximately 202,200 underlying shares of DGX. Particularly high volume was seen for the $48 strike call option expiring March 15, 2024, with 7,011 contracts trading so far today, representing approximately 701,100 underlying shares of NRG. Particularly high volume was seen for the $1130 strike call option expiring December 15, 2023, with 190 contracts trading so far today, representing approximately 19,000 underlying shares of FICO.
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Particularly high volume was seen for the $140 strike call option expiring December 15, 2023, with 2,022 contracts trading so far today, representing approximately 202,200 underlying shares of DGX. Below is a chart showing DGX's trailing twelve month trading history, with the $140 strike highlighted in orange: NRG Energy Inc (Symbol: NRG) saw options trading volume of 14,452 contracts, representing approximately 1.4 million underlying shares or approximately 42.3% of NRG's average daily trading volume over the past month, of 3.4 million shares. Particularly high volume was seen for the $1130 strike call option expiring December 15, 2023, with 190 contracts trading so far today, representing approximately 19,000 underlying shares of FICO.
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Quest Diagnostics, Inc. (Symbol: DGX), where a total volume of 3,994 contracts has been traded thus far today, a contract volume which is representative of approximately 399,400 underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing DGX's trailing twelve month trading history, with the $140 strike highlighted in orange: NRG Energy Inc (Symbol: NRG) saw options trading volume of 14,452 contracts, representing approximately 1.4 million underlying shares or approximately 42.3% of NRG's average daily trading volume over the past month, of 3.4 million shares. Particularly high volume was seen for the $1130 strike call option expiring December 15, 2023, with 190 contracts trading so far today, representing approximately 19,000 underlying shares of FICO.
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Below is a chart showing DGX's trailing twelve month trading history, with the $140 strike highlighted in orange: NRG Energy Inc (Symbol: NRG) saw options trading volume of 14,452 contracts, representing approximately 1.4 million underlying shares or approximately 42.3% of NRG's average daily trading volume over the past month, of 3.4 million shares. Particularly high volume was seen for the $1130 strike call option expiring December 15, 2023, with 190 contracts trading so far today, representing approximately 19,000 underlying shares of FICO. Below is a chart showing FICO's trailing twelve month trading history, with the $1130 strike highlighted in orange: For the various different available expirations for DGX options, NRG options, or FICO options, visit StockOptionsChannel.com.
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2023-12-12 00:00:00 UTC
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Johnson Controls International Plc (JCI) Q4 2023 Earnings Call Transcript
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DCOMP
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https://www.nasdaq.com/articles/johnson-controls-international-plc-jci-q4-2023-earnings-call-transcript
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Image source: The Motley Fool.
Johnson Controls International Plc (NYSE: JCI)
Q4 2023 Earnings Call
Dec 12, 2023, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and welcome to the Johnson Controls fourth quarter 2023earnings conference call All participants will be in listen-only mode. [Operator instructions] Please note, today's event is being recorded. I would now like to turn the conference over to Jim Lucas, vice president, investor relations.
Please go ahead.
Jim Lucas -- Vice President, Investor Relations
Good morning, and thank you for joining our conference call to discuss Johnson Controls' fourth quarter fiscal 2023 results. The press release and all related tables that were issued earlier this morning, as well as the conference call slide presentation, can be found on the investor relations portion of our website at johnsoncontrols.com. Joining me on the call today are Johnson Controls' chairman and chief executive officer, George Oliver; and chief financial officer, Olivier Leonetti. Before we begin, let me remind you that during our presentation today, we will make forward-looking statements.
Listeners are cautioned that these statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Johnson Controls. These risks and uncertainties can cause actual results to differ materially from our current expectations. We advise listeners to carefully review the risk factors and cautionary statements in our most recent Form 10-Q, Form 10-K, and today's release. We will also reference certain non-GAAP measures.
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Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are contained in the schedules attached to our press release and in the appendix to this presentation, both of which can be found on the investor relations section of Johnson Controls' website. I will now turn the call over to George.
George Oliver -- Chairman and Chief Executive Officer
Thanks, Jim, and good morning, everyone. Thank you for joining us on the call today. Before discussing our fourth quarter and fiscal 2023 results, I wanted to take a moment to thank all of our employees for their quick agile response to the cyber incident beginning in the last week of September. Our teams responded quickly and worked diligently to minimize the impact from the incident.
We greatly appreciate everyone's patience, from customers, to suppliers, to shareholders, as we work through our remediation efforts. We now have the incident behind us, and our operations are back to normal. Now, let's begin with Slide 3. We feel it is important to not lose sight of the strong year we had in fiscal 2023 regardless of the impact on our fourth quarter results from the cyber incident.
For the full year, we grew sales organically 8%, expanded segment margins 80 basis points to 15%, and delivered adjusted EPS growth of 17%. We saw continued strength in our service business as our efforts in maximizing our large installed base are coming to fruition. In fact, we grew service 10% for the year with solid order momentum ending the fiscal year. Our total backlog grew 9% to $12.1 billion as demand remains strong across our commercial building solutions offerings.
In fiscal 2023, we generated $1.8 billion in free cash flow, which represented 76% conversion. During the year, we returned $1.6 billion to shareholders via dividends and share repurchases. Our capital allocation strategy remains unchanged, targeting to return 100% of our free cash flow to shareholders through dividends and share repurchases. We have the highest conviction ever in our strategy to lead in building solutions and will continue to prioritize allocating capital accordingly toward that objective.
Overall, we are pleased with our continued execution despite macro-driven headwinds over the fiscal year and believe that we are well positioned heading into fiscal 2024 with our strong backlog and resilient service business. We are initiating guidance for fiscal 2024 for approximately mid single-digit sales and adjusted EPS growth, respectively, and for a free cash flow conversion of approximately 85%. Olivier will provide additional color on the guidance later in the call, but fiscal 2024 will show improvement following a seasonally slower first quarter. Now, turning to Slide 4.
Demand for our building solutions is accelerating with our customers around the globe as we are developing applied solutions to deliver outcomes that save energy and reduce emissions while improving the overall occupant experience. We are able to achieve these outcomes not only through our leading domain expertise in applied HVAC and control solutions, but also through world-class fire detection and protection, and smart security solutions, enabled by an industry-leading digital platform OpenBlue. All of our systems build in each other in a complementary components of our total solutions offering. The journey starts with our customer as we design, digitize, and deploy solutions that achieve efficiency, sustainability, and decarbonization.
This turnkey offering drives operations, service, and maintenance, which underpin our as-a-service offerings that make buildings smarter through our digital solutions. This helps our customers enable peak operating conditions, protect investments, and achieve the lowest lifecycle cost. Johnson Controls is unique with our value proposition to make buildings smarter through OpenBlue. Our comprehensive ecosystem of connected digital solutions for buildings can break down silos and connect building systems regardless of equipment OEM and make them interoperable to build resiliency and efficiency.
We were honored recently to be ranked No. 2 on the Guidehouse Insights Leaderboard in an assessment of leading energy service companies. The recognition underscores our commitment to excellence and sustainability on a global scale. It is a testament to our hard work and continued commitment to helping clients meet their sustainability goals.
Moving on to Slide 5. Fiscal 2023 saw continued strength in install orders, which creates a strong service opportunity over the life of the equipment. As we advance our digital strategy, including more than doubling our connected assets during the fiscal year, we are gathering more intelligence through data. This data allows us to better segment customer needs and create more proactive offerings across all of our domains, effectively utilizing our industry-leading service organization of over 20,000 professionals that make over 5.5 million visits annually.
With our large installed base, improved operations, and strong pipeline, we see a long runway of continued growth for our service business. Turning to Slide 6, our value creation framework remains unchanged. We truly believe we are well positioned to drive continued growth, delivering solutions across sustainable and healthy buildings while leveraging the increased adoption of OpenBlue to drive margin expansion. Our pipeline remains strong in our longer-cycle building solutions business as we continue to realize top-line growth.
Our shorter-cycle businesses and global products, primarily global residential HVAC and parts of fire and security, are stabilizing as the new fiscal year progresses. Converting our strong top-line growth into improved margins and cash flow is our top priority. We are beginning to see our gross margins improve as supply chain disruptions continue to lessen. Within building solutions, we are also seeing stronger margins in our record backlog.
And as service continues to accelerate, we should see favorable mix as well. Cash flow is a key area of focus for us. On the receivables front, we are making progress in improving the longer collection cycle, historically associated with our install business. Inventories in our short-cycle businesses continue to reduce as lead times normalize, and we are adding capacity to meet the strong demand in our applied HVAC business.
As you can see, we are very excited about the opportunity ahead. I will now turn the call over to Olivier to go through the financial details of the quarter. Olivier?
Olivier Leonetti -- Chief Financial Officer
Thanks, George, and good morning, everyone. Let me start with the summary on Slide 7. Total sales grew 3% to $6.9 billion, while organic sales increased 2% with another strong quarter from our service business, which grew 9% organically. The cyber incident was a 1% headwind in the quarter.
Adjusted segment EBITA was flat year over year with margins declining 50 basis points to 16%. Price cost was positive, and we delivered strong product productivity savings, achieving our $240 million target for the year. Turning to our EPS bridge on Slide 8, adjusted EPS of $1.05 increased 6% year over year and includes a $0.04 headwind from the cyber incident. Operations contributed $0.03 of the growth in the quarter, benefiting from positive price cost and our ongoing SG&A and COGS actions.
Below the line, we saw favorability from noncontrolling interest and a lower share count. Let's now discuss our segment results in more detail on Slides 9 to 12. Beginning on Slide 9, organic sales in our shorter-cycle global products business, excluding the 2% headwind from the cyber incident, were flat over year with price offsetting a decline in volume. Global products saw continued strength in commercial HVAC, which grew high single digits after growing meetings in the comparable period one year ago.
Demand remained strong, and our leading position in commercial HVAC was further extended in fiscal 2023. Fire and security declined low single digits as inventory further rebalanced as lead times improved materially year over year. Industrial refrigeration had another strong quarter, growing over 45% driven by EMEA/LA. Global residential decline high teens, driven by a greater than 30% decline in North America and a high single-digit decline in the rest of the world.
North America faced challenging year-over-year comparisons as we were still working out of a backlog from last fiscal year. In Europe, the heat pump market overall experienced lower growth than anticipated. As our book-to-bill business begins to normalize with improved lead times, our global products third-party backlog decreased 4% from the prior year to $2.5 billion and remained flat sequentially. Adjusted segment EBITA margins declined 85 basis points against a tough comparison to 21% as continued weakness in global residential offset positive price cost and productivity savings.
One of the biggest factor impacting our global products margin performance is due to lower absorption costs in global residential business. Moving to Slide 11 to discuss our building solutions performance. Although momentum remained strong with 9% growth, service orders grew 7% in the quarter and 11% for the full year as our transformation into a service led organization gains momentum. In-store orders increased 10%, led by double-digit orders in North America and EMEA/LA.
Organic sales grew 5%, driven by strong growth in service of 9%. In-store grew 2% organically against a tough comparison. The cyber incident was a 1% headwind in the quarter. Adjusted segment EBITA increased 5%, while margins declined 10 basis points as a higher mix of equipment installations and weakness in China offset positive price cost and saving from productivity initiatives.
Strong equipment sales are an important contributor to future higher-margin recurring service revenue. Building solutions backlog remains at record levels, growing 9% to $12.1 billion. Service backlog increased 12%, and install backlog grew 8% year over year. Let's discuss the building solutions performance by region on Slide 12.
Orders in North America increased 8% with continued strength across our HVAC and controls platform, up over 20% year over year. Overall, there was robust demand in our office, data center, healthcare, government, and manufacturing sectors. Install orders increased 11% year over year with solid growth in new construction. Sales in North America were up 8% organically with broad-based growth across the portfolio.
Our in-store business grew 9% with continued momentum in new construction, up 25% year over year. Organic sales in service grew 7% in the quarter and 8% for the full year, driven by a strong performance across our shorter-term transactional business, which is the direct result of having a large customer base. Sales across our HVAC and controls platform grew high teens year over year, while fire and security was flat. Segment margins expanded 70 basis points year over year to 15.4%, driven by ongoing productivity benefits, the continued execution of higher-margin backlog, and strength in our higher-margin service business.
Total backlog ended the quarter at $8.3 billion, up 10% year over year. In EMEA/LA, orders were up 16% with solid contributions of 16% growth from both service and install. Demand in commercial remained strong, growing 50% year over year, driven by HVAC and security. As the decarbonization efforts in Europe continue to gain momentum, our offerings in industrial refrigeration and HVAC and controls increased orders by over 20% across the industrial sector.
By region, order growth was broad-based. Sales in EMEA/LA, grew 3% organically, led by meeting growth in service with double-digit growth from both our recurring contracts and our shorter-cycle transactional business. Applied commercial HVAC and fire and security grow low single digits within the quarter. Segment EBITA margins declined 160 basis points to 7.8%, driven primarily by execution of lower-margin jobs within the backlog.
Backlog was up 10% year over year to $2.3 billion. In Asia-Pacific, orders grew 3%, driven by double-digit growth in service with healthy growth across our HVAC and controls platform. Overall, we saw strong demand in the institutional sector, growing over 30%. Sales in Asia-Pacific declined 6% as the installation business was impacted primarily by weakness in China.
Our service business continued the momentum of double-digit growth, increasing 11% in the quarter and 14% for the full year. Overall, fire and security grew mid single digits, while HVAC and controls declined high single digits. Segment EBITA margins declined 50 basis points to 13.5% as weakness in China offset ongoing productivity savings and positive price cost. Backlog of $1.5 billion is flat year over year.
Turning to our balance sheet and cash flow on Slide 13. We ended the fourth quarter with approximately $800 million in available cash. And net debt declined to 1.9 times, which is lower than our long term target range of 2 to 2.5 times. As George mentioned, during 2023, we returned $1.6 billion to our shareholders via dividends and share repurchases.
Our free cash flow conversion of 76% was better than our updated guidance. On the working capital front, our receivable collection has extended as our installation business critical to generate our service business has grown. We are making structural changes, such as more upfront payments, to improve our cash collection cycle in the installation business. While inventories remained elevated versus historical levels, primarily due to the challenges in our global residential businesses, we saw overall inventories improve five days sequentially in the fourth quarter.
We anticipate further improvement entering fiscal 2024. We have the fundamentals in place to be a 100% cash conversion company over time. However, continued growth investments and some further restructuring in fiscal 2024 will be headwinds in the fiscal year. Now, let's discuss our first quarter and fiscal 2024 guidance on Slide 14.
We are entering fiscal year 2024 with a backlog at historical levels, strong momentum in our industry-leading service business, and broad-based demand across end markets. We're introducing first quarter sales guidance of approximately flat year over year as we return to normalized seasonality. Our forecast includes a roughly 1% headwind from the cyber incident, as well as continued weakness anticipated in China. We expect building solutions momentum to continue, led by our resilient service business.
Global products faces a tough year-over-year comparison as we were working through elevated backlogs in the comparable quarter last year, especially in residential HVAC and certain fire and security indirect channels. For the first quarter, we expect segment EBITA margin to be approximately 13% and adjusted EPS to be in the range of $0.48 to $0.50. We're expecting a slower start of the year as we return to more normalized seasonality, including the negative impact from the cyber incident and anticipate continued weakness in China. For the full year, we anticipate global products to stabilize in the second half of 2024 as backlog continues to normalize and building solutions converts its higher-margin backlog.
We expect organic sales to grow approximately mid single digits, with building solutions leading the growth, particularly in service. Segment EBITA margins are expected to expand approximately 25 basis points or greater as price cost remains positive and mix improve throughout the year. Adjusted EPS should be in the range of approximately $3.65 to $3.80, representing growth of 4% to 9% year over year. For the first quarter, we anticipate our normal seasonal cash usage with incremental impact from the cyber incident.
We expect free cash flow conversion to be 85% for the full year. Our results and guidance reflect great progress advancing our service strategy, enabled by digital momentum in our commercial products offering. And we enter fiscal 2024 with strong order momentum and record backlog in our longer-cycle building solutions business. With that, operator, open up the lines for questions.
Questions & Answers:
Operator
[Operator instructions] And today's first question comes from Jeff Sprague with Vertical Research. Please go ahead.
Jeff Sprague -- Vertical Research -- Analyst
Hey, thank you. Good morning, everyone. Maybe we could just touch on cash flow a bit more. You know, A, you know, how much kind of recovery, you know, from the cyber incident do you kind of expect embedded in this 85% in 2024? And then, also, just it seems peculiar, Olivier.
Your net financial charges are going up to 420 million per year guide versus 280 last year. Is there something going on in the factoring, or something else, you know, in kind of the capital structure that would explain, you know, that sort of delta year over year?
Olivier Leonetti -- Chief Financial Officer
Thank you for your question, Jeff. Regarding the free cash flow, we had an impact in the first quarter, which we believe will be about $200 million. If you look at the guide for '24 at 85%, that includes two elements: one, some restructuring; and also some investments in capex to support the strong demand in our applied business. George mentioned that in his opening remarks.
If you look at the levers of improvement for free cash flow, we see, one, inventory reducing as we reduce our inventory in resi. Two, in receivables, we believe we're going to be able to demand more upfront payments as our lead time have improved. And also, we have implemented our supplier financing program across the network, and that will help further improve DPO. To go back to your net financing charge, it's the byproduct of higher interest rate.
We are going to refinance some debt. We have some commercial papers as well, which are going to be priced at the current higher interest rate. Factoring is a small proportion of the cost.
Jeff Sprague -- Vertical Research -- Analyst
And then separately, can you just address -- I mean, the orders obviously looked pretty solid in the quarter. Was there any impact from the cyber and the ability to kind of book orders, either as you ended, you know, the September quarter or as you've entered this particular quarter? Maybe just give us a, you know, a little bit more color on, you know, what the challenges were, you know, in the business as you work your way through this?
George Oliver -- Chairman and Chief Executive Officer
Yeah, so when we look at our orders, Jeff, you know, obviously, they continue very strong. And I think we're seeing strong growth in office data centers, healthcare, state and local government, education. We do see manufacturing industrial bookings continue at an elevated level after a strong growth in construction starts. it is focused on the EV and semiconductor manufacturing.
And then, when we look at our pipeline, it's very strong. And a lot of that pipeline is focused in these key verticals. I would say from a booking standpoint, we were tracking, prior to the cyber incident, a little bit better. And then, with the outage, you know, I think we're somewhat slowed a bit in that last week.
But I think as we look at, you know, first quarter and for the year with the pipeline that we have, we're going to see continued strong order growth. And I think when you look at our, you know, mainly around, you know, the commercial HVAC trends, it's clear that we're gaining share pretty much across all of the industries, thus creating, you know, significant equipment sales into our building solutions business, which is creating a really nice installed base that we're now capitalizing on the service opportunity. In building solutions, our applied orders were up about 20%. And then, you know, in the ducting space, when you take out resi, our commercial ducted was up, you know, over 50%.
So, you know, our portfolio of commercial HVAC is playing out strong, and that ultimately is what's driving, you know, the installed base within our commercial -- you know, within the commercial building solutions business.
Operator
Thank you. And our next question today comes from Joe Ritchie at Goldman Sachs. Please go ahead.
Joe Ritchie -- Goldman Sachs -- Analyst
Thanks. Good morning, everyone.
Olivier Leonetti -- Chief Financial Officer
Good morning.
Joe Ritchie -- Goldman Sachs -- Analyst
Hey, guys, can we start on just the mix impact this quarter? I was a little surprised to see the business solutions business see a $100 million impact from mix and also because it seems like your service business has fairly, you know, exceeded growth versus install this quarter. So, what exactly is going on within business solutions that's driving negative mix? And is that expected to reverse in 2024?
Olivier Leonetti -- Chief Financial Officer
So, if you look at the equipment sales today, particularly in the high end of our market, we are gaining share. This is a strong part of the market. This business is very attractive for us because for $1 of hardware, we typically generate, over the lifecycle of the equipment, another $9 of solutions, including $4 of services. And you saw also, Joe, in services today, we clearly have momentum.
Services is growing fast, enabled by digital. And as a reminder, services is twice the profit of the average of the company. So, this mix is based upon the equipment sales, which would generate attractive profit with the service and UTM solution annuity.
Joe Ritchie -- Goldman Sachs -- Analyst
OK, got it, understood. And I guess maybe my one follow-on question then would be on 1Q. And so, look, it's December 12th. We're clearly, you know, well into the quarter.
You've given a fairly, you know, narrow range for the first quarter. I guess I'm just trying to understand two things. Number one, you know, confidence that that will be the range when you report results. And then, secondly, just any help that you can give on the bridge? Because even if you adjust for the insurance settlement from last year, it seems like a relatively large decline in the first quarter despite, you know, flat organic sales expected this year.
Olivier Leonetti -- Chief Financial Officer
So, if you look at Q1, we see a strong order momentum continuing. If you look at, of course, the confidence, we have now a few days to go before the end of the quarter. So, that, by itself, answer the question. If you look at what is happening in Q1, we have strong momentum in our building solution business.
Service solution, powered by digital, is going fast. We see weaknesses in our global products division, particularly as it comes from resi. We have some impact also in China. Also, we have the impact of cyber, which is about 1% of the top line.
And it's difficult to dimensionalize exactly about $0.02 of EPS. And last but not least, GP now is going through a more normalized seasonality after a few years of supply chain impact.
Operator
Thank you. And our next question today comes from Scott Davis at Melius Research. Please go ahead.
Scott Davis -- Melius Research -- Analyst
Hey, good morning, guys.
Olivier Leonetti -- Chief Financial Officer
Good morning.
Scott Davis -- Melius Research -- Analyst
Can you guys give us -- kind of help us understand the materiality of data centers. It seems -- obviously, really bullish commentary we've heard from many folks. And don't always think about JCI in the data center business, but, certainly, you guys have a meaningful presence. So, can you help size that for us?
George Oliver -- Chairman and Chief Executive Officer
Yes, Scott, let me take that one. When you look at -- you know, as we look at data centers, we've been obviously reinvesting in all of our applied products to have the full portfolio to be able to capitalize on what we see to be incredible growth here over the decade. And so, when you look at a typical data centers, about -- let's take 100-megawatt data center. That requires roughly about 30,000 tons of cooling.
That can be served. Right now, the big trend is air-cooled chillers. We're the leader in the space with the investments that we've made and being able to deliver on those capabilities. And that's where we're seeing significant growth in serving that set of customers.
And so, it can either be air-cooled or water-cooled. Of course, water-cooled, we're in a strong position. So, roughly about 30,000 tons of cooling. So, when you look at the market in '24, we're projecting somewhere 15 to 20 gigawatts, which will amount to about five tons of cooling needs.
Now, because of our position with our strong portfolio of the full technology to serve these, we believe we're positioned to get, you know, let's say half of that volume going forward, which the overall volume would be greater than $2 billion. And so, for us, you know, this has been a position of incredible strength. A lot of that is because of our multi-generational developments we've made at our engineering center. Just a comment on that, we've -- just in the last 90 days, we've had customers representing over 20% of the U.S.
GDP at our technology center because as we're laying out long-term plans with our customers, we're making sure we're positioned with the applications that ultimately achieve their needs. And so, it is a very attractive space for us, Scott. And then, from a service standpoint, once we get that unit installed, we're getting very strong service growth on top of that, which will then be over the lifecycle of that installation.
Scott Davis -- Melius Research -- Analyst
That's helpful, George. And when you think about putting, you know, servicing and AI kind of heat-intensive data center, is that higher margin? A, is it a higher margin? But B, is it higher -- if it is, is it higher margin because of the complexity or because of just the scale that you're just getting so much more content into that facility?
George Oliver -- Chairman and Chief Executive Officer
Yeah, I think it's both. I mean, the criticality of the applications that we provide and then the ability to be able to operate within those conditions and then, from a data standpoint, making sure that we're secure relative to what we do and how we manage the data, that ultimately delivers the outcomes that we can deliver. You know, certainly the work that we've done around OpenBlue and in the cloud-based technology there, none of that was absolute -- you know, was not interrupted at all with our cyber incident. So, a lot of that is we believe it's high-margin service opportunity, not only at the equipment level, but then with the use of all of the data to enhance how that equipment is actually operated in their environment.
Operator
Thank you. And our next question today comes from Steve Tusa with JPMorgan. Please go ahead.
Steve Tusa -- JPMorgan Chase and Company -- Analyst
Hi, good morning.
Olivier Leonetti -- Chief Financial Officer
Good morning, Steve.
Steve Tusa -- JPMorgan Chase and Company -- Analyst
Can you provide a little bit more detail around the impact from the cyberattack? I mean, I think you said $0.04 in the fourth quarter, but it was kind of late in the fourth quarter. And then, in particular, you know, which businesses it impacted as kind of the mechanics of the thing. And then, just to clarify what you're saying, in the first quarter, I think you said $200 million in cash, but then $0.02 of earnings. I might have missed -- I'm not sure I can reconcile like all those numbers.
So, maybe just a little more mechanical detail on the impact of the cyberattack.
Olivier Leonetti -- Chief Financial Officer
Let me give you some of the numbers. In Q4, we believe that the impact on the top line was about 1%. It would be the same in Q1. What you have going on, Steve, I would go to the EPS impact in a second, is what you lose in Q4, you recover some of it in Q1, right? That's why you have those numbers going on.
So, 1% in revenue in Q4 and in Q1. The EPS impact in Q4 is about $0.04, and the impact in Q1, about $0.02. What is mainly impacted is everything which is short cycle. If you need to satisfy demand for something that you need to have in inventory, if you don't have it, you lose it.
That's where the impact will be. My 200 million impact in cash is lower collection in the first quarter because we're not able to build immediately. As we could not be immediately, then that has delayed collection. That's the 200 million, Steve.
Steve Tusa -- JPMorgan Chase and Company -- Analyst
OK.
George Oliver -- Chairman and Chief Executive Officer
Just when you look at the overall, you know, event, it did, you know, create significant distraction internally. We -- it wasn't one or two days, it actually was about three weeks, which was the better part of October. So, while we're able to quantify some of the impact, I think it's harder to put a number to the overall impact in October. As you -- as we -- although we maintained operations, we weren't necessarily operating at full efficiency.
But I would tell you, the way that our teams have responded and actually got back to operations have been remarkable. And so, I do believe, you know, just from an overall momentum standpoint, we lost a little bit of momentum in October. But I can tell you, in November and December, we've gained that back.
Steve Tusa -- JPMorgan Chase and Company -- Analyst
OK.
Olivier Leonetti -- Chief Financial Officer
Steve, as a final detail, we have substantial insurance coverage. And a large proportion of our costs, including business disruption, will be covered by insurance.
Steve Tusa -- JPMorgan Chase and Company -- Analyst
OK, and so I guess I'm just struggling to see how you get from like $0.50 in the first quarter, which seems like an operating base to, you know, I don't know, 375 for the year. That just seems like a pretty steep hill. And I mean, are you -- I know you're probably assuming that, you know, the comps maybe get a little bit easier in some of the products businesses. But I mean, are you assuming like recovery through kind of economic underlying recovery in some of those short-cycle businesses for the back half of the year?
Olivier Leonetti -- Chief Financial Officer
So, what we see happening is earning growth to return during Q2. What we see today is momentum in our building solution business. We talked about that at length. Equipment services enabled by digital are resonating with our customers.
We see GP stabilizing in Q2 and more normalized growth in the second half for our global product division. If you look at the theme for the year, commercial strength, service strength, with service, expected to grow high single digits plus in the year.
Operator
Thank you. And our next question today comes from Julian Mitchell with Barclays. Please go ahead.
Julian Mitchell -- Barclays -- Analyst
Hi, good morning. I just wanted to understand some of the -- the free cash flow moving parts again, maybe as we talk just dollars year on year is the easiest thing for 2024. So, I think you're guiding about $100 million of net income growth, about $300 million of free cash flow growth in 2024. So, just trying to understand that extra kind of 200 million in the free cash, you know, how much of that is sort of capex maybe coming down or working capital coming down substantially? I'm just trying to understand as well, what's the full year impact of cyber in the free cash year on year and if there's anything to be aware of factoring.
I know you mentioned supply chain finance. Thank you.
Olivier Leonetti -- Chief Financial Officer
So, if you look at the key driver of free cash flow, they're going to be around working capital, mainly in inventory. If you look at our level of inventory, we are at about -- we are going to close the year at about 54 days of inventory. We used to be, before, those supply chain events at about 45. A day of inventory is worth about, you know, quite a lot in terms of free cash flow.
So, inventory is going to be a key variable. Receivables also would be unchecked to declining as we are improving the way we manage that particular balance sheet line. Some of that will include upfront payments as our cycle has been improving to satisfy demand. We're able to demand for acceleration of products, we're able to demand more upfront payment.
And the final one would be supply chain financing, which we are now deploying across the world. Factoring would be flat year on year.
Julian Mitchell -- Barclays -- Analyst
Thanks, Olivier. And the cyber 200 million free cash headwind in Q1, is that like a headwind of 200 for the year as a whole? Or are you assuming you recapture most of that in cash flow in the balance of the year?
Olivier Leonetti -- Chief Financial Officer
It will be timing-related. We'll catch that up in the second quarter.
Julian Mitchell -- Barclays -- Analyst
And then, my follow-up question would just be on the pace of the EPS recovery through the year. You know, historically, I think Q2 is about 19% or so of full year earnings. Is that roughly what we should expect for 2024 in terms of the seasonality?
Olivier Leonetti -- Chief Financial Officer
We are going to go through a more normalized seasonality in terms of EPS performance as now the supply chain is going back to what we had pre-COVID. If you look at the themes for EPS, earnings growth expected in Q2, momentum in building solutions have indicated, GP stabilizing in Q2 and then going to an increase in profit contribution in the second half. Those would be the theme for the flow of EPS across the year.
Operator
Thank you. And our next question today comes from Nigel Coe with Wolfe Research. Please go ahead.
Nigel Coe -- Wolfe Research -- Analyst
Thanks. Good morning, everyone. Good morning. I know we've danced around this a fair amount here.
But on the 1Q guide, Olivier, I really struggle to get down to that range, you know, down in flat sales and the 13% segment EBITA margin. So, is there anything below the line from corporate timing, the, you know, interest, or anything? Anything below the line you need to think about there? Just any help, that would be helpful. And then, on the free cash flow, you know, the restructuring, I'm not sure if you did quantify that to Julian's question, but what sort of payback are we seeing on this restructuring action? You know, what should we dial in for structural cost savings in 2024?
Olivier Leonetti -- Chief Financial Officer
So, if you look -- let me start with the end. On free cash flow, we're going to have an impact of about 10 points of conversion to two elements. One is higher capex actually due to the demand we have, mainly in the data center. That's about three points of conversion.
And restructuring, we expect to have seven points of conversion due to restructuring. The impact -- the payback of those restructuring actions is about a year or below that. And we have actually quite a few projects to improve the profitability of our enterprise. On Q1, I go back to what I indicated earlier in the Q&A session, momentum in building solutions, that's what we see in Q1, weakness in global product due to the resi demand, some more normalized comp as the supply chain is normalizing for our global product division, and then, of course, the impact of cyber.
Nigel Coe -- Wolfe Research -- Analyst
OK, and just on the capex, it just seems like it's a $60 million increase. I just want to clarify that. But maybe you can talk -- can we just dig into the EMEA/LA segment? You know, the margins have been struggling for so long now. And you know, we've got installation growth in orders and backlog, but installation is down 5% this quarter.
So, I'm just wondering if you could just maybe talk about, you know, what's -- what the problems are in that region and what some of the fixes are.
Olivier Leonetti -- Chief Financial Officer
So, we see no structural reasons for the EMEA/LA margin to be double digits, and we expect margin to turn positive in Q2. Clearly, we have work to do in the region. The margin profile of the region is mainly due to the realization of lower-margin orders into the revenue. We see that turning the other way.
So, turning positive in Q2, Nigel.
Operator
Thank you. And our next question today comes from Andy Kaplowitz with Citigroup. Please go ahead.
Andy Kaplowitz -- Citi -- Analyst
Hey, good morning, everyone.
Olivier Leonetti -- Chief Financial Officer
Good morning.
Andy Kaplowitz -- Citi -- Analyst
So, your orders accelerated slightly actually in Q4, up 9%, I think, for building solutions led by North America. And I know you talked about the strength already in applied and in markets such as data centers. But as you know, some leading indicators and nonresi have been a little weaker. So, do you see order growth holding up here across your businesses throughout FY '24? And do you see your backlog staying around that $12.1 billion number, you know, for your long-cycle businesses in '24? I think any incremental color would be helpful.
George Oliver -- Chairman and Chief Executive Officer
Yeah, I do, Andy. And when we look at -- you know, we've got a pretty robust tracking across all of the critical markets across the regions. And we're tracking not only lead generation to conversion to where we're positioning to deploy our resources and differentiate and ultimately win. So, the pipeline generation continued to be very strong, and it's in line with what I previously discussed as far as the segments that are driving that.
And I think as we look at our service business, that's on the -- as -- when you think about new projects and new opportunities to build install. So, that has been very strong. And what we're also seeing is that on the service side, with the work that we've been doing, with not only, you know, going back into the installed base, getting connectivity, getting use of the data, and then bringing forward, you know, new value propositions, we're seeing significant pickup in our PSAs and being able to get longer-term contracts and build the base there. So, in spite of -- you know, when you look -- when you segment our building solutions, whether it be install, still strong, and then our ability to be able to even in an economic decline, we should -- with the value proposition that we're bringing to our customers within service, I believe that that's going to continue to hold up.
And so, right now, there's no -- even though we look at the same metrics you look at, you know, dodge starts and ABI and all of the key metrics being a little bit weaker, at the end of the day, with the way that we've prioritized our growth and how we're deploying our resources, we're positioned to capitalize on where the growth will occur.
Andy Kaplowitz -- Citi -- Analyst
That's very helpful. And maybe you could give us just a little more color on your expectations for global products. Do you see global residential markets, for instance, turning positive in the second half? And as a greater segment turns, you know, how are you thinking about the European heat pump market? I think you mentioned, you know, GP stabilizing overall in the second half. But maybe you can talk about your confidence level that destocking ends in the second quarter as you guys mentioned.
George Oliver -- Chairman and Chief Executive Officer
Let's start with resi. You know, as we look at the U.S. resi market, obviously, there were challenges that set up for resi in 2023, both in units, as well as overall sales, you know, with the recession. I think when we look at the reason for that, it's higher cost of equipment, it's weaker, you know, consumer spending, it's now people going back to work and reducing their home improvement spending.
So, a lot of contributors to that. I do believe that as we look at the transition here with the refrigerant changes, we get into more stabilization where, you know, although there'll be less units, certainly, with the new refrigerant launches, you know, that's going to demand more price because of the refrigerant. And so, on a sales basis, I think we're, you know, extremely well positioned now to be able to deliver our portfolio of refrigerant changes in time for the implementation on January 1st. We have pulled ahead our new product introductions by as much as two or three months to ensure that we're giving our distributors enough time to rebalance their inventory and ultimately restock with the new 454B refrigerant products.
And again, we're working with all of our constituents right from the suppliers, to our distributors, to partners to make sure we have a smooth transition. So, we do believe it normalizes and somewhat stabilizes going forward. And that's on the resi in North America. When you -- your question around heat pumps, I think we believe across our portfolio that that creates an incredible opportunity for us.
We believe it's about a $100 billion market that's growing mid single digits. And today, we assessed our portfolio. It's about -- a third of our sales within HVAC are heat pumps. And I do believe, although we've seen a pullback in Europe, and it's mainly around our JCH product that we were planning for a pretty significant pickup here in '23, which ultimately didn't materialize, that -- maybe that's just kind of pushed to the right a bit as some of the countries in Europe have pushed forward the implementation date and the like.
And then, as a result, I think consumers have pulled back and not ultimately capitalizing on the efficiency that the heat pumps represent to them. And so, we're watching that closely, but I do believe that over the next, you know, maybe 18 to 24 months, that'll come back and come back pretty strong. And then, on the commercial side, pretty much globally, you know, we do have a leading portfolio. We're understanding now, with the focus on decarbonization and sustainability, that we are uniquely positioned with low-GWP refrigerants across our portfolio that we're positioned to now capitalize on, that being a significant strength as we're, you know, capitalizing on some of the key markets globally.
So, that's kind of an assessment as I think about where we are with heat pumps.
Operator
Thank you. And our next question today comes from Noah Kaye with Oppenheimer. Please go ahead.
Noah Kaye -- Oppenheimer and Company -- Analyst
Good morning. Thanks for taking the questions. And it's really actually building on one of Nigel's earlier ones around restructuring and, more broadly, productivity gains. You know, you've got the 340 million of productivity savings for 2023.
Is it time for kind of an updated medium-term target around productivity? You know, and what do you see as the path forward to drive a stronger margin profile for the business? And how much does productivity play into that?
Olivier Leonetti -- Chief Financial Officer
So, we believe, Noah, that, fundamentally, we have the ability to be a 30% incremental company. We will achieve improvement in margin through two levers: one, gross margin as we improve our mix, as we improve our operations; and the second lever is going to be through opex as we keep standardizing and centralizing our operations. And we have, as we see, a strong portfolio of ideas and projects to improve the profitability of our enterprise. As I indicated earlier, typically, those projects have below one year payback.
We don't think we need to update today our productivity programs. I think you will see that being embedded in the guide, Noah.
George Oliver -- Chairman and Chief Executive Officer
And then, Noah, just to comment on that, as we have been able to strengthen our operating system globally, it has identified significant opportunities continuing so that we can capitalize on and ultimately continue to expand margins going forward to be able to get incremental 30% plus. And so, the payback that we're getting on the work that we're doing is within a year.
Noah Kaye -- Oppenheimer and Company -- Analyst
Yup, appreciate it. Maybe a little bit surprised positively, I would say, that the cyber incident didn't more significantly impact the service business. One, can you kind of explain why that was the case? And two, just talk about how you know the service and install operations, you know, performed during this challenging period for, you know, IT infrastructure for the company?
George Oliver -- Chairman and Chief Executive Officer
Noah, let me, you know, just comment on the cyber incident as a whole. You know, what we learned is we're not alone and this is more common phenomenon across companies like ours. Certainly, it was unfortunate. But what I would tell you, there was incredible, remarkable work by our team with our business continuity plans.
And so, as we, you know, were impacted, our teams really responded well, staying focused on customers, continuing to work and maintain operations with incredible speed and focus. And so, with that, we were obviously very proactive in how we've communicated with suppliers, customers, employees to maintain our operations. So, that is the foundation of what we were able to accomplish. What I would say is that the agility that we saw and the ability to be able to where we were where we did have some compromise, be able to get the proper set of data and make sure that we're continuing to serve across the board, we're able to maintain that and stay focused on what matters, which is ultimately delivering for our customers.
So, even though we had, you know, a little bit of disruption in the month of October, which we talked a little bit about earlier, I believe that the work that we've done really has positioned us strong going forward. And we've seen that momentum come back in November and December.
Operator
Thank you. And our next question today comes from Joe O'Dea with Wells Fargo. Please go ahead.
Joe O'Dea -- Wells Fargo Securities -- Analyst
Hi, good morning. First question, I just wanted to ask on channel inventory trends. I think that first emerged as a headwind in the third quarter. I believe you expected to see a more meaningful headwind in the fourth quarter.
And so, can you size what you believe you saw in the fourth quarter and then, within the guide, kind of what type of headwind would be embedded in sort of first quarter or even second quarter of '24?
George Oliver -- Chairman and Chief Executive Officer
When you look at our, you know, our global product book-to-bill businesses, that really depend on channel. You know, starting with rest. Certainly, we saw, you know, a pullback in resi, and that was obviously more so in the U.S. versus globally.
But overall, there was a decline within resi. So, we've been working to offset -- you know, obviously, offset the inventory and get position for what we believe the new demand to be. And I think as you look at the book-to-bill, it's getting more normalized relative to, you know, a go-forward basis that we've seen the adjustment. When we look -- when we track our inventories, I think we're back to where we were historically relative to what's in the channel with our distributors.
And so, I'm somewhat optimistic that that's stabilizing going forward. When you look at the rest of our book-to-bill businesses, and it's mainly, you know, around fire and security controls, the same holds true there. So, we think that we're through most of the headwind with the adjustment of inventory in the channel. We've also adjusted our inventory in line with what we believe the forward-looking demand to be.
And so, it's important that we're positioned to be able to support that demand on a real-time basis, which we are. And as we go through a review business by business, looking at what is actually happening, we are encouraged that now we're seeing orders across the board starting to build back our backlog so that we can be positioned here through the course of '24 to continue to, you know, build on the revenue base on a go-forward basis. So, I mean it's somewhat optimistic and I feel that we've, you know, the headwind that we saw in the, you know, second, third, fourth quarter, you know, some of that is now is normalizing, and we're back to seeing growth.
Joe O'Dea -- Wells Fargo Securities -- Analyst
And then, I just wanted to understand kind of project activity in the market. I think 2023 would have seen, you know, still a lot of constraints as it relates to labor availability for projects, supply chain availability. You know, what you're seeing on that front, kind of the smoothness of operating of projects at this point, whether labor still remains a constraint. And then, just related, I mean, you know, office strength does come across as a bit of a surprise.
And so, any additional color on kind of what you're seeing in North America office? You know, anything that that you're doing where you think you might be driving share gains there?
George Oliver -- Chairman and Chief Executive Officer
You know, I'll talk a little bit about operations. When you look at our building solutions across the globe, certainly, you know, there was significant disruption where, from a cycle time standpoint, some of our projects got extended a month or two. As we look at where we are today, we're back to almost where we were. And what we're believing now is our operational, our -- the operating system that we've deployed, we can create now cycle time as a competitive advantage and being able to respond with the improvements that we've made within our supply chain and within our factories and ultimately within the field and how we execute on projects.
So, I'm very confident now that that's going to be a critical strength of ours. Your question relative to resources, we have been very attractive in being able to recruit labor pretty much across the globe and have not been constrained by labor. Across both our project-based business, as well as our service business, and then in our critical factories, we've been able to recruit, retain, and develop the talent that's ultimately going to be critical to delivering on our capabilities. So, that feels very good.
As it relates to commercial buildings, you know, even though there's this, you know, a thought that maybe buildings there's going to be a pullback, the work that we're doing within buildings is differentiating. And so, as we go into a building now, especially with the focus on energy savings and decarbonization, there's no company that's consuming as much data as we are within the building. And so, because of that, we can actually do upgrades and deploy new technologies and utilize our data platform, consume all of the data within the building, and, in many cases, get a payback on what we do within the building. And so, that is our focus.
And now with building standards being implemented in many jurisdictions, not only here in North America but across the globe, we believe that that really presents a big opportunity for us in that space, especially with the focus on energy and decarbonization.
Operator
Thank you. And our next question today comes from Deane Dray with RBC Capital Markets. Please go ahead.
Deane Dray -- RBC Capital Markets -- Analyst
Thank you. Good morning, everyone. Just wanted to follow up on the potential timing of the insurance recovery, the business interruption insurance. Would that be a fiscal '24 event? And is that embedded in your guidance?
Olivier Leonetti -- Chief Financial Officer
The timing would be a '24 event. Some elements of our cost will actually be reimbursed, we believe, in Q1. That's the goal. So, we depend when the costs are incurred and when we are able to prepare our claims.
So, some of it will come in Q1, certainly, Deane, in this year.
Deane Dray -- RBC Capital Markets -- Analyst
OK, well, that's -- if you get that in the first quarter, that's pretty fast, so that's impressive. And then, just a second question on China, just it was called out several times as being a source of weakness, especially in building solutions. Any color there just in terms of, at the margin, what might be changing?
George Oliver -- Chairman and Chief Executive Officer
And so, as you know, as they went through different phases of COVID, we saw, you know, a pickup last year and capitalized on that opportunity. You know, we believe that we built a leading position in the higher end of the commercial market there and have a very large installed base that we're capitalizing on to be able to build our service business. We are concerned that the macro environment has continued to deteriorate, leading to concerns of the overall slowdown now accelerating. I think when we look at these macro trends, not only working against us but our competitors.
And as we have now studied the markets and looking at verticals or looking at the overall region, we are planning prudently for continued pressure in China. So, we're hoping we're a bit wrong and maybe, you know, it comes back a little bit stronger than we suspect right now, but that's really what's embedded in our guide.
Deane Dray -- RBC Capital Markets -- Analyst
Thank you.
Operator
And our next question today comes from Andrew Obin with Bank of America. Please go ahead.
Andrew Obin -- Bank of America Merrill Lynch -- Analyst
Thanks, guys. Good morning.
Olivier Leonetti -- Chief Financial Officer
Good morning, Andrew.
Andrew Obin -- Bank of America Merrill Lynch -- Analyst
Can I just -- I think -- you know, it seems that JCI is facing, you know, as we look more growth, more investment, more inflation, so more capex, more working capital. So, how do we think about this 100% cash conversion target going forward that we are in a more growth and more inflationary environment, right? How do you balance growth and growth opportunities and investment versus cash conversion?
Olivier Leonetti -- Chief Financial Officer
So, if you look at what we said in our prepared remarks, we believe that fundamentals to allow our company to be a 100% free cash flow company over time are there. Today, to your point, we are investing in some parts of the business to support the strong growth in high-end HVAC. We believe that the level of capex, at this level, will be what we need to support the growth we see in the coming few years. The big levers of improvement in free cash flow are going to be around working capital.
I mentioned inventory. Just a day of inventory is worth about 50 million of cash. And if you look at where we are at the end of FY '23 at about 54 days of inventory, we used to be at 45 days of inventory. You can do the math.
There is a big level of cash flow trapped in inventory. We are at it. Inventory are declining as we put in our prepared remarks. We see also the ability to reduce the collection cycle.
As our lead times are improving, we're going to be able to collect faster. And we are now -- because of the value proposition of our offering, we're able also to demand some prepayment. So, those are the levers. I mentioned supply chain financing as well.
So, that's basically, Andrew, what is explaining the view on free cash flow and the path to be, over time, a 100% free cash flow conversion company.
Andrew Obin -- Bank of America Merrill Lynch -- Analyst
Got you. And just to clarify if I got it wrong, I think you had 220 million in impairments and restructuring charges. Were there incremental impairments in that number? And if yes, what were they?
Olivier Leonetti -- Chief Financial Officer
Go again -- we had impairment charges, correct. Go again on the second part of your question.
Andrew Obin -- Bank of America Merrill Lynch -- Analyst
What assets do we impair?
Olivier Leonetti -- Chief Financial Officer
So, we had, first of all, some OpenBlue assets associated with the FM:Systems acquisition. Some of those assets are part of the FM portfolio. They are better. So, we're going to discontinue what we have in OpenBlue.
We had an impairment associated with a business we have in Argentina. This business is impacted by high hyperinflation. And also, we had some restructuring charges. Those are the three key levers.
Operator
Thank you. And our next question today comes from Brett Linzey with Mizuho Americas. Please go ahead.
Brett Linzey -- Mizuho Americas -- Analyst
Hey, good morning. Thanks. I just wanted to come back to price cost. You said positive for '24.
But can you just discuss the pricing component within that framework and how are you thinking about incremental price actions this year? I'm just curious, you know, did the cyber disruptions in any way limit your ability to capture price cost? Any color there?
Olivier Leonetti -- Chief Financial Officer
So, on price cost today, we see price cost to be positive. We believe, we're going to be able to keep the level of pricing we saw in the second half of the year.
George Oliver -- Chairman and Chief Executive Officer
And when you project the full year, you know, we see -- still see strong -- you know, with the value propositions that we're bringing to our customers in building solutions, strong value propositions that we're pricing to. And with the differentiation that we bring with our digital content, that really drives a margin. And then, on the product side, you know, we continue to have record launches of new product introductions, which ultimately we price to the value that we bring to the market. So, we're still seeing strong pricing across the portfolio.
Brett Linzey -- Mizuho Americas -- Analyst
OK, great. Thanks for that. And then, just quick follow-up on the capacity expansion, encouraging to hear. I guess maybe just a little bit more context, is it just simply targeted on data center, or are there other geographies? And is there any way to size what that investment was?
George Oliver -- Chairman and Chief Executive Officer
Yeah, it's -- I mean, let's -- there is a big segment here that's targeted on data centers because of the position that we have and the strength that we have earned with the products that we're bringing into that segment. So, as I talked with Scott earlier, you know, we see a significant demand here over the next multiple years that we're positioned now to capitalize on -- in line with the customer relationships that we have. So, that's going to continue. But when you look at applied, when you look at our overall commercial HVAC business, you know, when we -- what's happened is across the board with the secular trends around decarbonization, sustainability, efficiency, we are uniquely positioned with our technology and the way that we develop technology.
We engineer and design right from the compressor to the end market, making sure that our equipment is optimized for the application that we provide. As a result of that, that has a broad base to position us to be able to now capitalize on these secular trends' broad base. Not just within data centers, but across many of the other verticals. And so, as we think about the work that we've done to reinvest over the last three or four years in the position that we have, we have a very strong position across our applied portfolio that, I believe, beyond, you know, well above the economic growth, that we're going to now be able to capitalize on because of that, that increased demand.
So, it's pretty broad-based.
Operator
Thank you. This concludes our question-and-answer session. I'd like to turn the conference back over to George Oliver for any closing remarks.
George Oliver -- Chairman and Chief Executive Officer
Thank you all for your continued interest in supporting Johnson Controls. As we stand here today, we are set up for success through our strong foundation as we continue to build on opportunities to enhance our business from our margin profile, free cash flow generation, and growth through the digitization of our service offering. It is all about execution. As we look ahead, I am confident in our global team's ability to deliver value and results for our customers and shareholders as we enter fiscal year 2024.
So, with that, operator, that concludes our call today.
Operator
Thank you. This concludes today's conference call, and we thank you all for attending today's presentation. [Operator signoff]
Duration: 0 minutes
Call participants:
Jim Lucas -- Vice President, Investor Relations
George Oliver -- Chairman and Chief Executive Officer
Olivier Leonetti -- Chief Financial Officer
Jeff Sprague -- Vertical Research -- Analyst
Joe Ritchie -- Goldman Sachs -- Analyst
Scott Davis -- Melius Research -- Analyst
Steve Tusa -- JPMorgan Chase and Company -- Analyst
Julian Mitchell -- Barclays -- Analyst
Nigel Coe -- Wolfe Research -- Analyst
Andy Kaplowitz -- Citi -- Analyst
Noah Kaye -- Oppenheimer and Company -- Analyst
Joe O'Dea -- Wells Fargo Securities -- Analyst
Deane Dray -- RBC Capital Markets -- Analyst
Andrew Obin -- Bank of America Merrill Lynch -- Analyst
Brett Linzey -- Mizuho Americas -- Analyst
More JCI analysis
All earnings call transcripts
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Adjusted segment EBITA margins declined 85 basis points against a tough comparison to 21% as continued weakness in global residential offset positive price cost and productivity savings. Adjusted segment EBITA increased 5%, while margins declined 10 basis points as a higher mix of equipment installations and weakness in China offset positive price cost and saving from productivity initiatives. As we stand here today, we are set up for success through our strong foundation as we continue to build on opportunities to enhance our business from our margin profile, free cash flow generation, and growth through the digitization of our service offering.
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Adjusted segment EBITA margins declined 85 basis points against a tough comparison to 21% as continued weakness in global residential offset positive price cost and productivity savings. Adjusted segment EBITA increased 5%, while margins declined 10 basis points as a higher mix of equipment installations and weakness in China offset positive price cost and saving from productivity initiatives. [Operator signoff] Duration: 0 minutes Call participants: Jim Lucas -- Vice President, Investor Relations George Oliver -- Chairman and Chief Executive Officer Olivier Leonetti -- Chief Financial Officer Jeff Sprague -- Vertical Research -- Analyst Joe Ritchie -- Goldman Sachs -- Analyst Scott Davis -- Melius Research -- Analyst Steve Tusa -- JPMorgan Chase and Company -- Analyst Julian Mitchell -- Barclays -- Analyst Nigel Coe -- Wolfe Research -- Analyst Andy Kaplowitz -- Citi -- Analyst Noah Kaye -- Oppenheimer and Company -- Analyst Joe O'Dea -- Wells Fargo Securities -- Analyst Deane Dray -- RBC Capital Markets -- Analyst Andrew Obin -- Bank of America Merrill Lynch -- Analyst Brett Linzey -- Mizuho Americas -- Analyst More JCI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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George Oliver -- Chairman and Chief Executive Officer And when you project the full year, you know, we see -- still see strong -- you know, with the value propositions that we're bringing to our customers in building solutions, strong value propositions that we're pricing to. As we stand here today, we are set up for success through our strong foundation as we continue to build on opportunities to enhance our business from our margin profile, free cash flow generation, and growth through the digitization of our service offering. [Operator signoff] Duration: 0 minutes Call participants: Jim Lucas -- Vice President, Investor Relations George Oliver -- Chairman and Chief Executive Officer Olivier Leonetti -- Chief Financial Officer Jeff Sprague -- Vertical Research -- Analyst Joe Ritchie -- Goldman Sachs -- Analyst Scott Davis -- Melius Research -- Analyst Steve Tusa -- JPMorgan Chase and Company -- Analyst Julian Mitchell -- Barclays -- Analyst Nigel Coe -- Wolfe Research -- Analyst Andy Kaplowitz -- Citi -- Analyst Noah Kaye -- Oppenheimer and Company -- Analyst Joe O'Dea -- Wells Fargo Securities -- Analyst Deane Dray -- RBC Capital Markets -- Analyst Andrew Obin -- Bank of America Merrill Lynch -- Analyst Brett Linzey -- Mizuho Americas -- Analyst More JCI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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I was a little surprised to see the business solutions business see a $100 million impact from mix and also because it seems like your service business has fairly, you know, exceeded growth versus install this quarter. As we stand here today, we are set up for success through our strong foundation as we continue to build on opportunities to enhance our business from our margin profile, free cash flow generation, and growth through the digitization of our service offering. [Operator signoff] Duration: 0 minutes Call participants: Jim Lucas -- Vice President, Investor Relations George Oliver -- Chairman and Chief Executive Officer Olivier Leonetti -- Chief Financial Officer Jeff Sprague -- Vertical Research -- Analyst Joe Ritchie -- Goldman Sachs -- Analyst Scott Davis -- Melius Research -- Analyst Steve Tusa -- JPMorgan Chase and Company -- Analyst Julian Mitchell -- Barclays -- Analyst Nigel Coe -- Wolfe Research -- Analyst Andy Kaplowitz -- Citi -- Analyst Noah Kaye -- Oppenheimer and Company -- Analyst Joe O'Dea -- Wells Fargo Securities -- Analyst Deane Dray -- RBC Capital Markets -- Analyst Andrew Obin -- Bank of America Merrill Lynch -- Analyst Brett Linzey -- Mizuho Americas -- Analyst More JCI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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2023-12-12 00:00:00 UTC
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After-Hours Earnings Report for December 12, 2023 : MAMA, CSBR
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DCOMP
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https://www.nasdaq.com/articles/after-hours-earnings-report-for-december-12-2023-%3A-mama-csbr
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The following companies are expected to report earnings after hours on 12/12/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Mama's Creations, Inc. (MAMA)is reporting for the quarter ending October 31, 2023. The food company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.04. This value represents a 33.33% increase compared to the same quarter last year. In the past year MAMA has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 150%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for MAMA is 21.47 vs. an industry ratio of 2.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Champions Oncology, Inc. (CSBR)is reporting for the quarter ending October 31, 2023. The drug company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.17. This value represents a 0.00% decrease compared to the same quarter last year. The "days to cover" for this stock exceeds 13 days. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CSBR is -12.33 vs. an industry ratio of -0.70.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The food company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.04. Champions Oncology, Inc. (CSBR)is reporting for the quarter ending October 31, 2023. The drug company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.17.
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The food company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.04. Zacks Investment Research reports that the 2024 Price to Earnings ratio for MAMA is 21.47 vs. an industry ratio of 2.40, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CSBR is -12.33 vs. an industry ratio of -0.70.
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Mama's Creations, Inc. (MAMA)is reporting for the quarter ending October 31, 2023. Zacks Investment Research reports that the 2024 Price to Earnings ratio for MAMA is 21.47 vs. an industry ratio of 2.40, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CSBR is -12.33 vs. an industry ratio of -0.70.
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The following companies are expected to report earnings after hours on 12/12/2023. In the past year MAMA has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 150%.
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713015.0
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2023-12-12 00:00:00 UTC
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ON Semiconductor Corp. (ON) Stock Sinks As Market Gains: Here's Why
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https://www.nasdaq.com/articles/on-semiconductor-corp.-on-stock-sinks-as-market-gains%3A-heres-why
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ON Semiconductor Corp. (ON) closed the latest trading day at $78.39, indicating a -1.27% change from the previous session's end. This change lagged the S&P 500's 0.46% gain on the day. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, added 0.7%.
The the stock of semiconductor components maker has risen by 19.13% in the past month, leading the Computer and Technology sector's gain of 4.16% and the S&P 500's gain of 4.85%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. On that day, ON Semiconductor Corp. is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 8.33%. In the meantime, our current consensus estimate forecasts the revenue to be $2 billion, indicating a 4.82% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.13 per share and revenue of $8.24 billion, indicating changes of -3.75% and -0.99%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% lower within the past month. ON Semiconductor Corp. presently features a Zacks Rank of #4 (Sell).
From a valuation perspective, ON Semiconductor Corp. is currently exchanging hands at a Forward P/E ratio of 15.48. This indicates a discount in contrast to its industry's Forward P/E of 26.99.
One should further note that ON currently holds a PEG ratio of 3.84. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 3.84.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 18% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
ON Semiconductor Corporation (ON) : 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.
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In the meantime, our current consensus estimate forecasts the revenue to be $2 billion, indicating a 4.82% decline compared to the corresponding quarter of the prior year. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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ON Semiconductor Corp. (ON) closed the latest trading day at $78.39, indicating a -1.27% change from the previous session's end. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.13 per share and revenue of $8.24 billion, indicating changes of -3.75% and -0.99%, respectively, compared to the previous year. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 3.84.
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At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 18% of over 250 industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Click to get this free report ON Semiconductor Corporation (ON) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ON Semiconductor Corp. (ON) closed the latest trading day at $78.39, indicating a -1.27% change from the previous session's end. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 3.84. At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 18% of over 250 industries.
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713016.0
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2023-12-12 00:00:00 UTC
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TSMC (TSM) Beats Stock Market Upswing: What Investors Need to Know
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https://www.nasdaq.com/articles/tsmc-tsm-beats-stock-market-upswing%3A-what-investors-need-to-know
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In the latest trading session, TSMC (TSM) closed at $101.60, marking a +0.64% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.46% for the day. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.7%.
Shares of the chip company have appreciated by 4.7% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.16% and lagging the S&P 500's gain of 4.85%.
The investment community will be closely monitoring the performance of TSMC in its forthcoming earnings report. In that report, analysts expect TSMC to post earnings of $1.34 per share. This would mark a year-over-year decline of 26.37%. In the meantime, our current consensus estimate forecasts the revenue to be $18.99 billion, indicating a 4.71% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $66.45 billion. These totals would mark changes of -24.35% and -12.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for TSMC. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. TSMC presently features a Zacks Rank of #3 (Hold).
Digging into valuation, TSMC currently has a Forward P/E ratio of 20.31. This signifies no noticeable deviation in comparison to the average Forward P/E of 20.31 for its industry.
We can additionally observe that TSM currently boasts a PEG ratio of 2.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Semiconductor - Circuit Foundry industry had an average PEG ratio of 2.83.
The Semiconductor - Circuit Foundry industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : 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.
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In the meantime, our current consensus estimate forecasts the revenue to be $18.99 billion, indicating a 4.71% decline compared to the corresponding quarter of the prior year. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Shares of the chip company have appreciated by 4.7% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.16% and lagging the S&P 500's gain of 4.85%. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $66.45 billion. By the end of yesterday's trading, the Semiconductor - Circuit Foundry industry had an average PEG ratio of 2.83.
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $66.45 billion. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups.
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In the latest trading session, TSMC (TSM) closed at $101.60, marking a +0.64% move from the previous day. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
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713017.0
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2023-12-12 00:00:00 UTC
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Tesla (TSLA) Stock Falls Amid Market Uptick: What Investors Need to Know
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https://www.nasdaq.com/articles/tesla-tsla-stock-falls-amid-market-uptick%3A-what-investors-need-to-know
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Tesla (TSLA) closed the most recent trading day at $237.01, moving -1.14% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.46%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
Prior to today's trading, shares of the electric car maker had gained 7.17% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 8.55% and outpaced the S&P 500's gain of 4.85% in that time.
The upcoming earnings release of Tesla will be of great interest to investors. The company's upcoming EPS is projected at $0.74, signifying a 37.82% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $25.8 billion, up 6.09% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.17 per share and a revenue of $97.54 billion, indicating changes of -22.11% and +19.74%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.7% lower. Currently, Tesla is carrying a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Tesla is currently being traded at a Forward P/E ratio of 75.71. For comparison, its industry has an average Forward P/E of 9.94, which means Tesla is trading at a premium to the group.
It's also important to note that TSLA currently trades at a PEG ratio of 3.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.38 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 42% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Tesla, Inc. (TSLA) : 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.
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Prior to today's trading, shares of the electric car maker had gained 7.17% over the past month. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.38 based on yesterday's closing prices. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Tesla (TSLA) closed the most recent trading day at $237.01, moving -1.14% from the previous trading session. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 42% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups.
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Tesla (TSLA) closed the most recent trading day at $237.01, moving -1.14% from the previous trading session. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 42% echelons of all 250+ industries. Zacks Investment Research has just released an urgent special report to help you bank on this trend.
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3a6f50d5-4d6e-449f-b7b2-ce0104bdf912
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713018.0
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2023-12-12 00:00:00 UTC
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2 Cannabis Stocks Under $20 That Could Soar, According to Analysts
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https://www.nasdaq.com/articles/2-cannabis-stocks-under-%2420-that-could-soar-according-to-analysts
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Blame it on too much product, fierce competition, or the general economic haze - but 2023 was another tough year for cannabis stocks, with many start-ups in the weed niche now struggling just to stay afloat. That's why the proposal to reschedule marijuana at the federal level has been so closely watched in the industry; gaining more pharmaceutical credibility could unlock more favorable tax and employment regulations, as well as open up clinical testing possibilities - all factors that could give cannabis stocks a much-needed shot in the arm.
With marijuana already approved for recreational use in many states, 12 Democratic governors wrote the Biden administration earlier this month, urging the White House to reschedule weed by the end of the year. Their pitch? More jobs, tax cash, fewer folks behind bars, and a nod to fairness. Despite the plea, President Biden hasn't exactly put cannabis reform in the spotlight just yet.
While federal reclassification hangs in the balance, Wall Street analysts still like some of the smaller players in the cannabis space. Here are two top-rated pot stocks under $20 that could be worth adding to your portfolio.
GrowGeneration: A Leading Supplier of Hydroponic Equipment
GrowGeneration Corp. (GRWG) is a top spot in the U.S. for all things hydroponic and organic gardening, rocking a cool 50 stores spread across 18 states. From nutrients to grow lights and tents, they've got the whole shebang for both green-thumbed at-home enthusiasts and serious commercial cultivators.
GRWG is down 39% this year, which stands in stark contrast to the S&P 500 Index ($SPX) and its 20% gain. GRWG shares now trade around just $2.39, with a market cap of $155 million.
www.barchart.com
Financially, GRWG swung to a net loss of $7.4 million in Q3 2023, which was slightly wider than expected. Revenue took a hit too, down 21.4% to $55.7 million - but still narrowly beat Wall Street's expectations, even as same-store sales tumbled 14% from the prior year.
Looking ahead, analysts expect GRWG to narrow its bottom-line deficit in fiscal 2024. The consensus is calling for a full-year loss of $0.34 per share, compared to the expected $0.44 this year.
www.barchart.com
Overall, the analyst squad is leaning towards a “moderate buy,” with four screaming "strong buy" and two saying "hold." The average price target for GRWG is $4.42, hinting at expected upside of about 85%.
www.barchart.com
Green Thumb Industries: A Diversified Cannabis Operator
Green Thumb Industries Inc. (GTBIF) is a decent-sized player in the U.S. cannabis scene, with operations in 14 states. They sell and distribute cannabis in various formats - think flowers, edibles, vapes, concentrates, and topicals - through brands like Rythm and Dogwalkers, and you might have seen their retail stores, too, led by their RISE Dispensaries locations (including two new locations in Florida).
The over-the-counter traded GTBIF has been on the upswing, adding about 18.8% to nearly keep pace with the broader market. The shares currently trade just north of $10.
www.barchart.com
During Q3, GTBIF reported net income of $11 million, or $0.05 per share, while adjusted EBITDA rose to $83 million, or 30% of revenue. Revenue's booming too, up 38.4% to a stronger-than-forecast $275.4 million. Green Thumb also bought back $25 million worth of shares during the quarter.
In fiscal year 2024, Wall Street is targeting 25% EPS growth, with the consensus calling for a full-year profit of $0.25 per share.
www.barchart.com
GTBIF's valuation game is strong, too. The price-to-sales ratio of 2.49 and price-to-book ratio of 1.51 are both reasonable, considering long-term EPS growth projections of 52%.
Wall Street is giving Green Thumb stock a round of applause with a “Strong Buy” consensus – nine “Strong Buys” and two “Moderate Buys,” to be exact. And the average price target is $15.38 - a healthy 52% upside from current levels.
www.Barchart.com
On the date of publication, Ebube Jones did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Blame it on too much product, fierce competition, or the general economic haze - but 2023 was another tough year for cannabis stocks, with many start-ups in the weed niche now struggling just to stay afloat. That's why the proposal to reschedule marijuana at the federal level has been so closely watched in the industry; gaining more pharmaceutical credibility could unlock more favorable tax and employment regulations, as well as open up clinical testing possibilities - all factors that could give cannabis stocks a much-needed shot in the arm. With marijuana already approved for recreational use in many states, 12 Democratic governors wrote the Biden administration earlier this month, urging the White House to reschedule weed by the end of the year.
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www.barchart.com Green Thumb Industries: A Diversified Cannabis Operator Green Thumb Industries Inc. (GTBIF) is a decent-sized player in the U.S. cannabis scene, with operations in 14 states. In fiscal year 2024, Wall Street is targeting 25% EPS growth, with the consensus calling for a full-year profit of $0.25 per share. Wall Street is giving Green Thumb stock a round of applause with a “Strong Buy” consensus – nine “Strong Buys” and two “Moderate Buys,” to be exact.
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www.barchart.com Green Thumb Industries: A Diversified Cannabis Operator Green Thumb Industries Inc. (GTBIF) is a decent-sized player in the U.S. cannabis scene, with operations in 14 states. In fiscal year 2024, Wall Street is targeting 25% EPS growth, with the consensus calling for a full-year profit of $0.25 per share. Wall Street is giving Green Thumb stock a round of applause with a “Strong Buy” consensus – nine “Strong Buys” and two “Moderate Buys,” to be exact.
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GRWG shares now trade around just $2.39, with a market cap of $155 million. In fiscal year 2024, Wall Street is targeting 25% EPS growth, with the consensus calling for a full-year profit of $0.25 per share. For more information please view the Barchart Disclosure Policy here.
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2023-12-12 00:00:00 UTC
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The 7 Best Dividend Stocks to Buy in December
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https://www.nasdaq.com/articles/the-7-best-dividend-stocks-to-buy-in-december
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
One of the best ways to protect your portfolio, and generate consistent income, is with some of the best dividend stocks. Most notably, those with a strong history of dividend payouts, strong growth, and economic moats.
Look at Coca-Cola (NYSE:KO), for example. Not only has it paid out a consistent dividend for 61 years, but it also has a strong economic moat with exceptional demand. It also just declared a regular quarterly dividend of 46 cents per share, payable Dec. 15 to shareowners of record of the company as of the close of business Dec. 1. That and it doesn’t hurt it’s one of Warren Buffett’s favorite stocks.
Some of the other best dividend stocks to consider as we head into New Year 2024 include:
PepsiCo (PEP)
Source: 8ED8 / Shutterstock
Much like Coca-Cola, PepsiCo (NASDAQ:PEP) offers products that are in considerable demand. It also has a strong economic moat, and a good amount of growth ahead, and a 3.05% yield to boot.
Most recently, it declared a quarterly dividend of $1.265 per share — a 10% increase year-over-year (YOY). That’s payable on Jan. 5, 2024 to shareholders of record at the close of business on Dec. 1, 2023, and is also one of the best dividend stocks to own now.
Earnings have been solid, with PEP posting third-quarter earnings of $2.24 a share from $1.97 YOY. Revenue jumped to $23.45 billion from $21.97 billion. Core earnings were $2.25 a share. Analysts were looking for $2.15 a share on revenue of $23.41 billion. PEP also expects its annual core earnings to grow about 13% to $7.54 from prior expectations of 12%.
Lowe’s (LOW)
Source: Helen89 / Shutterstock.com
For the last 51 years, Lowe’s (NYSE:LOW) has been consistently paying out dividends. At the moment, it carries a yield of 2.12%, and just recently declared a quarterly cash dividend of $1.10 per share, payable Feb. 7, 2024, to shareholders of record as of Jan. 24, 2024.
Earnings have been okay. Most recently, LOW posted GAAP EPS of $3.06, which beat expectations by four cents. However, revenue of $20.47 billion was missed by $390 million. LOW also trimmed its forecast. For full-year 2023, it expects same-store sales to fall about 5%, as compared to earlier expectations for a decline of 2% to 4%. Overall sales are expected to fall to $86 billion, as compared to previous expectations for $87 billion to $89 billion.
That’s to be expected with a weaker housing market in 2023. However, with signs of improvement ahead, LOW should also see improvements with higher dividends.
AGNC Investment Corp. (AGNC)
Source: Shutterstock
There’s also monthly dividend stocks like AGNC Investment Corp. (NASDAQ:AGNC), a REIT that invests in residential mortgage-backed securities, where principal and interest payments are guaranteed by the U.S. government or a U.S. government agency.
Even better, the REIT carries a yield of about 16.4% and just declared a cash dividend of 12 cents per share. Helping, Bank of America analysts just raised their price target on AGNC to $8.75 from $7.50.
And, according to President and CEO Peter Federico, “As challenging as this period has been for all bond market participants, the current opportunity for both levered and unlevered investments in Agency MBS remains historically attractive on both an absolute and relative basis,” as quoted by Seeking Alpha.
Exxon Mobil (XOM)
Source: Jonathan Weiss / Shutterstock.com
With oil prices pulling back, another one of the best dividend stocks to buy is Exxon Mobil (NYSE:XOM). It slipped to a recent low of $99.55 — which puts it at strong support dating back to late 2022. Helping, the company just said it would boost its share buyback program to $20 billion once it closes its acquisition of Pioneer Natural Resources (NYSE:PXD). And, while we wait for the XOM stock to recover, we can collect its 3.82% yield.
When it comes to XOM, buy it and forget about it. The company will continue to be exceptionally profitable moving forward and is currently trading at less than 10x earnings. Better, analysts at TD Cowen recently raised their price target on XOM to $118 from $110, with a market perform rating.
Energy Transfer (ET)
Source: Casimiro PT / Shutterstock.com
With a yield of 9.4%, Energy Transfer (NYSE:ET) is a buy on the latest pullback to $13.30. The company, which owns and operates about 125,000 miles of pipeline and other energy assets across 41 states, also trades at just 8x forward earnings and about half of sales. ET is also benefiting from a tight natural gas market and the decline in Russian exports to Europe.
Earnings haven’t been too shabby either. While revenues declined by about 9.6% YOY to $20.74 billion, it still beat expectations by $350 million. Adjusted EBITDA was also up to $3.54 billion from $3.09 billion, YOY as well. Better, JP Morgan recently raised its price target on ET to $18 from $17, with an overweight rating.
Invesco S&P Small Cap Dividend Low Volatility ETF (XSHD)
Source: Shutterstock
Or, for even more safety and diversification at a low cost, there are exchange-traded funds like the Invesco S&P Small Cap Dividend Low Volatility ETF (CBOE:XSHD). With an expense ratio of 0.30%, the ETF tracks the S&P Small Cap 600 Low Volatility High Dividend Index and will invest about 90% of its total assets in the 60 securities on that index — all of which provide high dividend yields with low volatility. Better, the XSHD has a current annual yield of about 8% at the moment.
Some of its top holdings include Cal-Maine Foods (NASDAQ:CALM), Universal Corp (NYSE:UVV), Ready Capital (NYSE:RC), and New York Mortgage Trust (NASDAQ:NYMT) to name a few.
Global X Super Dividend ETF (SDIV)
Source: Eviart / Shutterstock.com
Another one of my favorite dividend-paying ETF, which I last mentioned on Nov. 27 is the Global X Super Dividend ETF (NYSEARCA:SDIV). With a 12.42% yield and an expense ratio of 0.58%, the ETF pays out a monthly dividend. It holds 103 stocks spread across mortgage REITs, financials, energy, materials, utilities, industrials, and consumer discretionary.
Holdings include Omega Healthcare (NYSE:OHI), Starwood Properties (NYSE:STWD), Arbor Realty Trust (NYSE:ABR), Annaly Capital (NYSE:NLY), and Medical Properties (NYSE:MPW) to name just a few.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.
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The post The 7 Best Dividend Stocks to Buy in December appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And, according to President and CEO Peter Federico, “As challenging as this period has been for all bond market participants, the current opportunity for both levered and unlevered investments in Agency MBS remains historically attractive on both an absolute and relative basis,” as quoted by Seeking Alpha. Helping, the company just said it would boost its share buyback program to $20 billion once it closes its acquisition of Pioneer Natural Resources (NYSE:PXD). The company, which owns and operates about 125,000 miles of pipeline and other energy assets across 41 states, also trades at just 8x forward earnings and about half of sales.
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Some of the other best dividend stocks to consider as we head into New Year 2024 include: PepsiCo (PEP) Source: 8ED8 / Shutterstock Much like Coca-Cola, PepsiCo (NASDAQ:PEP) offers products that are in considerable demand. AGNC Investment Corp. (AGNC) Source: Shutterstock There’s also monthly dividend stocks like AGNC Investment Corp. (NASDAQ:AGNC), a REIT that invests in residential mortgage-backed securities, where principal and interest payments are guaranteed by the U.S. government or a U.S. government agency. Invesco S&P Small Cap Dividend Low Volatility ETF (XSHD) Source: Shutterstock Or, for even more safety and diversification at a low cost, there are exchange-traded funds like the Invesco S&P Small Cap Dividend Low Volatility ETF (CBOE:XSHD).
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Lowe’s (LOW) Source: Helen89 / Shutterstock.com For the last 51 years, Lowe’s (NYSE:LOW) has been consistently paying out dividends. Invesco S&P Small Cap Dividend Low Volatility ETF (XSHD) Source: Shutterstock Or, for even more safety and diversification at a low cost, there are exchange-traded funds like the Invesco S&P Small Cap Dividend Low Volatility ETF (CBOE:XSHD). With an expense ratio of 0.30%, the ETF tracks the S&P Small Cap 600 Low Volatility High Dividend Index and will invest about 90% of its total assets in the 60 securities on that index — all of which provide high dividend yields with low volatility.
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Lowe’s (LOW) Source: Helen89 / Shutterstock.com For the last 51 years, Lowe’s (NYSE:LOW) has been consistently paying out dividends. While revenues declined by about 9.6% YOY to $20.74 billion, it still beat expectations by $350 million. Invesco S&P Small Cap Dividend Low Volatility ETF (XSHD) Source: Shutterstock Or, for even more safety and diversification at a low cost, there are exchange-traded funds like the Invesco S&P Small Cap Dividend Low Volatility ETF (CBOE:XSHD).
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713020.0
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2023-12-12 00:00:00 UTC
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Ohio man asks appeals court to revive massive PFAS class action against 3M, DuPont
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https://www.nasdaq.com/articles/ohio-man-asks-appeals-court-to-revive-massive-pfas-class-action-against-3m-dupont
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By Clark Mindock
Dec 12 (Reuters) - An Ohio resident has told a U.S. appeals court its recent ruling putting an end to a massive class action lawsuit that accused 3M MMM.N, Corteva Inc CTVA.N subsidiary E.I. du Pont de Nemours and Co and other companies of putting people's health at risk by exposing them to toxic “forever chemicals” could send a dangerous message to chemical manufacturers facing similar claims, and deserves a second look.
Kevin Hardwick, the lead plaintiff in the lawsuit, on Monday asked the full 6th U.S. Circuit Court of Appeals to reconsider a November decision that dismantled the class action that would have allowed roughly all of Ohio's 11.8 million residents to sue the companies as a group.
Hardwick said the decision would allow companies to escape potential liability for per- and polyfluoroalkyl substances, or PFAS, pollution at early stages of litigation if numerous defendants produced the mostly identical chemicals allegedly causing harm.
He said the 6th Circuit's ruling incorrectly concluded he did not sufficiently trace his harms to the companies and the chemicals they produced, and said he provided enough evidence for the case to proceed.
“If the decision stands, the lesson is that companies should conspire together to poison people with the same poison and none of them can be held responsible,” Hardwick said.
PFAS are a family of thousands of chemicals that have been used in a wide range of products including non-stick pans and clothing, and have been tied to cancer and other diseases.
A 3M spokesperson said the company disagrees with Hardwick's arguments. A Corteva representative did not immediately respond to requests for comment on Tuesday.
A three-judge panel had found Hardwick filed too broad a complaint against the manufacturers, and had not shown that the PFAS found in his body could be traced directly to the defendants, noting there are potentially thousands of companies that have manufactured PFAS.
But Hardwick said that was not true, since there are just 10 companies that actually manufactured the specific PFAS at issue in the case. While many other companies may have sold products with the chemicals, each of the 10 defendants is ultimately responsible for contaminating Ohio residents’ blood with those PFAS, Hardwick said.
PFAS are often referred to as forever chemicals because they do not easily break down once released into the environment or absorbed into the human body.
The lawsuit seeks to establish a fund to monitor Ohio residents for health impacts from PFAS exposure, and other relief. It is among thousands that have been filed against 3M, DuPont and others in recent years over alleged PFAS contamination.
3M agreed in June to pay $10.3 billion to settle hundreds of claims the company polluted public drinking water with the chemicals, while Chemours Co CC.N DuPont de Nemours DD.N and Corteva reached a similar deal with U.S. water providers for $1.19 billion.
The U.S. Environmental Protection Agency has called PFAS an “urgent public health and environmental issue," and has taken steps to regulate PFAS, including in drinking water.
The case is Hardwick v. 3M Co, 6th U.S. Circuit Court of Appeals, No. 22-3765.
For Hardwick: Robert Bilott, Aaron Herzig and William Braff of Taft Stettinius & Hollister
For the chemical companies: Theodore Grossman, Louis Chaiten and James Saywell of Jones Day
Read more:
3M, DuPont defeat massive class action over forever chemicals
(Reporting by Clark Mindock)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Clark Mindock Dec 12 (Reuters) - An Ohio resident has told a U.S. appeals court its recent ruling putting an end to a massive class action lawsuit that accused 3M MMM.N, Corteva Inc CTVA.N subsidiary E.I. Circuit Court of Appeals to reconsider a November decision that dismantled the class action that would have allowed roughly all of Ohio's 11.8 million residents to sue the companies as a group. Hardwick said the decision would allow companies to escape potential liability for per- and polyfluoroalkyl substances, or PFAS, pollution at early stages of litigation if numerous defendants produced the mostly identical chemicals allegedly causing harm.
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By Clark Mindock Dec 12 (Reuters) - An Ohio resident has told a U.S. appeals court its recent ruling putting an end to a massive class action lawsuit that accused 3M MMM.N, Corteva Inc CTVA.N subsidiary E.I. 3M agreed in June to pay $10.3 billion to settle hundreds of claims the company polluted public drinking water with the chemicals, while Chemours Co CC.N DuPont de Nemours DD.N and Corteva reached a similar deal with U.S. water providers for $1.19 billion. For Hardwick: Robert Bilott, Aaron Herzig and William Braff of Taft Stettinius & Hollister For the chemical companies: Theodore Grossman, Louis Chaiten and James Saywell of Jones Day Read more: 3M, DuPont defeat massive class action over forever chemicals (Reporting by Clark Mindock) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A three-judge panel had found Hardwick filed too broad a complaint against the manufacturers, and had not shown that the PFAS found in his body could be traced directly to the defendants, noting there are potentially thousands of companies that have manufactured PFAS. While many other companies may have sold products with the chemicals, each of the 10 defendants is ultimately responsible for contaminating Ohio residents’ blood with those PFAS, Hardwick said. For Hardwick: Robert Bilott, Aaron Herzig and William Braff of Taft Stettinius & Hollister For the chemical companies: Theodore Grossman, Louis Chaiten and James Saywell of Jones Day Read more: 3M, DuPont defeat massive class action over forever chemicals (Reporting by Clark Mindock) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Clark Mindock Dec 12 (Reuters) - An Ohio resident has told a U.S. appeals court its recent ruling putting an end to a massive class action lawsuit that accused 3M MMM.N, Corteva Inc CTVA.N subsidiary E.I. He said the 6th Circuit's ruling incorrectly concluded he did not sufficiently trace his harms to the companies and the chemicals they produced, and said he provided enough evidence for the case to proceed. While many other companies may have sold products with the chemicals, each of the 10 defendants is ultimately responsible for contaminating Ohio residents’ blood with those PFAS, Hardwick said.
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713021.0
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2023-12-12 00:00:00 UTC
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Mama's Creations, Inc. (MAMA) Q3 Earnings and Revenues Top Estimates
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https://www.nasdaq.com/articles/mamas-creations-inc.-mama-q3-earnings-and-revenues-top-estimates
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Mama's Creations, Inc. (MAMA) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.05, delivering a surprise of 150%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Mama's Creations, Inc., which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $28.65 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 9.55%. This compares to year-ago revenues of $25.69 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Mama's Creations, Inc. Shares have added about 103.3% since the beginning of the year versus the S&P 500's gain of 20.4%.
What's Next for Mama's Creations, Inc.
While Mama's Creations, Inc. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Mama's Creations, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.05 on $27.41 million in revenues for the coming quarter and $0.17 on $101.46 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Miscellaneous is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Lamb Weston (LW), is yet to report results for the quarter ended November 2023. The results are expected to be released on January 4.
This frozen foods supplier is expected to post quarterly earnings of $1.40 per share in its upcoming report, which represents a year-over-year change of +9.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Lamb Weston's revenues are expected to be $1.69 billion, up 32.6% from the year-ago quarter.
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Mama's Creations, Inc. (MAMA) : Free Stock Analysis Report
Lamb Weston (LW) : 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.
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Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. This frozen foods supplier is expected to post quarterly earnings of $1.40 per share in its upcoming report, which represents a year-over-year change of +9.4%.
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Mama's Creations, Inc., which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $28.65 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 9.55%. The current consensus EPS estimate is $0.05 on $27.41 million in revenues for the coming quarter and $0.17 on $101.46 million in revenues for the current fiscal year. Click to get this free report Mama's Creations, Inc. (MAMA) : Free Stock Analysis Report Lamb Weston (LW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Mama's Creations, Inc. (MAMA) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. Mama's Creations, Inc., which belongs to the Zacks Food - Miscellaneous industry, posted revenues of $28.65 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 9.55%. Click to get this free report Mama's Creations, Inc. (MAMA) : Free Stock Analysis Report Lamb Weston (LW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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While Mama's Creations, Inc. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Ahead of this earnings release, the estimate revisions trend for Mama's Creations, Inc. Mixed.
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713022.0
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2023-12-12 00:00:00 UTC
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The 3 Most Undervalued Manufacturing Stocks to Buy in December
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https://www.nasdaq.com/articles/the-3-most-undervalued-manufacturing-stocks-to-buy-in-december
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Buying undervalued companies is an excellent way for investors to make steady returns over a long period of time. But it’s important to distinguish an undervalued stock that still has potential in the future and a company that has seen a considerable amount of sell-off due to issues that may lead the business into turmoil.
Some companies like the ones I mention below may not be desirable to investors in the moment because they are within an industry that is struggling. But, for those looking for long-term growth, companies like these are great picks due to the possible rebound in the future, and buying in at a low price will look like a great move.
LyondellBasell Industries (LYB)
Source: Flagmania / Shutterstock.com
LyondellBasell Industries (NYSE:LYB), headquartered in Houston, Texas, is a commodity chemical company serving Europe, Asia and North America. LyondellBasell’s chemicals are used in coatings, household goods, cleaners, fuels and automotive fluids. They are also a leading producer of industrial polymers such as polyolefins.
Over the past year, their share price has risen by 15%. They reported earnings for the third quarter of 2023, which stated that total revenue dropped by 13% and net income rose by 31% compared to the previous year. And they announced that $448 million was given back to shareholders in the form of share buybacks and dividends in the third quarter of 2023. On Dec. 8, LyondellBasell announced the Ethylene Oxide & Derivatives Business and corresponding facility to INEOS Oxide, a plastics manufacturer, for $700 million.
LyondellBasell also offers a strong dividend yield of 5.40% annually. And they have raised their dividend payout to investors for ten consecutive years. LYB distributes dividend payments quarterly, and its most recent dividend amount was $1.25 per share, which was paid to investors on Dec. 4. This essentially makes them a great buy due to their generous dividend yield. It’s important to consider that they have a much larger dividend yield than their peers, which can be positive or negative depending on how you look at it.
CNH Industrial (CNHI)
Source: Pavel Kapysh / Shutterstock.com
CNH Industrial (NYSE:CNHI), located in London, UK, is an agriculture and construction equipment manufacturer. They offer a wide range of equipment, such as tractors, combine harvesters, skid steers, bulldozers, excavators and backhoe loaders. CNH Industrial also provides its customers with financing options.
They have seen their share price fall by 31% year-to-date, primarily due to an overall downturn in the farming equipment industry and recent third-quarter earnings that have seen reduced income and a drop in future guidance.
On November 7, their third-quarter earnings for 2023 were released, stating that total revenue and net income remained practically unchanged compared to the previous year.
CNH Industrial offers a 3.57% dividend yield, distributed once per year, and their most recent dividend payment was $0.40 per share. With the downturn in the overall industry, this is a unique opportunity for investors to buy in at a reduced price.
Fluor (FLR)
Source: Trong Nguyen / Shutterstock.com
Fluor (NYSE:FLR), located in Irving, TX, is an engineering and construction equipment producer specializing in urban solutions. They provide management services for infrastructure development, energy solutions primarily regarding decarbonization and nuclear power services, and they also offer technical services to government and military organizations.
On Nov. 3, they reported earnings for the third quarter in which they reported total revenue that grew by 10% compared to the previous year. They reported a net loss of $24 million for Q3 2022 and a net income of $181 million for the third quarter of 2023. They also raised their company guidance for the remainder of 2023.
Year-to-date, they have seen an increase in their share price of 16% and still offer investors a decent option for an undervalued stock.
As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing with topics such as the stock market and financial news.
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The post The 3 Most Undervalued Manufacturing Stocks to Buy in December appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But it’s important to distinguish an undervalued stock that still has potential in the future and a company that has seen a considerable amount of sell-off due to issues that may lead the business into turmoil. They have seen their share price fall by 31% year-to-date, primarily due to an overall downturn in the farming equipment industry and recent third-quarter earnings that have seen reduced income and a drop in future guidance. On November 7, their third-quarter earnings for 2023 were released, stating that total revenue and net income remained practically unchanged compared to the previous year.
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LyondellBasell Industries (LYB) Source: Flagmania / Shutterstock.com LyondellBasell Industries (NYSE:LYB), headquartered in Houston, Texas, is a commodity chemical company serving Europe, Asia and North America. CNH Industrial (CNHI) Source: Pavel Kapysh / Shutterstock.com CNH Industrial (NYSE:CNHI), located in London, UK, is an agriculture and construction equipment manufacturer. They have seen their share price fall by 31% year-to-date, primarily due to an overall downturn in the farming equipment industry and recent third-quarter earnings that have seen reduced income and a drop in future guidance.
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LyondellBasell Industries (LYB) Source: Flagmania / Shutterstock.com LyondellBasell Industries (NYSE:LYB), headquartered in Houston, Texas, is a commodity chemical company serving Europe, Asia and North America. They have seen their share price fall by 31% year-to-date, primarily due to an overall downturn in the farming equipment industry and recent third-quarter earnings that have seen reduced income and a drop in future guidance. CNH Industrial offers a 3.57% dividend yield, distributed once per year, and their most recent dividend payment was $0.40 per share.
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They have seen their share price fall by 31% year-to-date, primarily due to an overall downturn in the farming equipment industry and recent third-quarter earnings that have seen reduced income and a drop in future guidance. CNH Industrial offers a 3.57% dividend yield, distributed once per year, and their most recent dividend payment was $0.40 per share. Year-to-date, they have seen an increase in their share price of 16% and still offer investors a decent option for an undervalued stock.
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713023.0
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2023-12-12 00:00:00 UTC
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3 Niche Stocks on the Rise: Why OC, LYB, and UAN Are Must-Buys
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https://www.nasdaq.com/articles/3-niche-stocks-on-the-rise%3A-why-oc-lyb-and-uan-are-must-buys
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investing in niche stocks can help unlock gains for your portfolio. These stocks often operate in specialized sectors or have unique business models that set them apart from mainstream companies.
Possibly carrying a higher risk due to their uniqueness, niche stocks can also play an important task in specialization that reduces the correlation of one’s overall portfolio to the broader indices.
So if you are looking for niche stocks that could surge in value, then read on. Let’s discuss three niche stocks to consider holding today.
Owens Corning (OC)
Source: TDKvisuals / Shutterstock.com
Owens Corning (NYSE:OC) manufactures insulation and roofing. Importantly, the housing and real estate market may be due for a correction due to the anticipated fall in interest rates next year. Therefore, many companies such as OC may be undervalued due to a depressed share price.
Additionally, OC stock has been growing its dividend and expanding its business operations. Recently, the company acquired Natural Polymers, manufacturer of spray polyurethane foam insulation.
Truly, this could be a wise move by Owen’s management team. Foam insulation and polyurethane products are higher margin segments, which could boost OC’s bottom line.
Also, it boosted its dividend per share, taking the dividend yield to 1.7%, in line with the industry average. Further, the dividend is well-covered by free cash flow. Also, its earnings potential is expected to be robust moving forward.
LyondellBasell (LYB)
Source: Shutterstock
Next, LyondellBasell (NYSE:LYB) is a major player in the specialty chemicals industry. Another company focusing on higher margin segments of its business, which could lead to future great efficiencies.
But for LYB stock, the attention on divestments or selling off parts of itself aren’t part of its core mission. Recently, this was achieved via its sale of Bayport, Texas-based Ethylene Oxide & Derivatives (EO&D) business and production facility to INEOS Oxide for $700 million. The deal is due to be closed sometime in the second quarter of next year.
And, this $700 million cash injection is significant. Some of that money will be used to compensate shareholders for holding its stock. LYB pays a significant dividend, with a yield of 5.39%, and its dividend was also recently increased. This cash injection may help provide a solid buffer to ensure it can keep ticking over for years to come.
CVR Partners LP (UAN)
Source: Fotokostic / Shutterstock.com
CVR Partners LP (NYSE:UAN) specializes in producing and distributing nitrogen-based fertilizer products.
UAN has made an impressive financial turnaround, as seen in its most recent quarterly report. It reported income net of $1 million. That number marks an improvement from a net loss of $20 million in the same quarter of the previous year.
These results were made possible via solid execution from management and strong demand for fall ammonia application, which is part of UAN’s key operating segments.
Plenty of reasons exist for UAN stock to continue to deliver solid returns to investors. Its dividend yield of 9.59% and dividend growth of 37.78% year over year (YOY) positions it competitively toward its peers.
Also, UAN has a low number of shares outstanding of just 10.57M. This translates into a strong upside potential as fertilizer products continue to make its cyclical rotation.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
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The post 3 Niche Stocks on the Rise: Why OC, LYB, and UAN Are Must-Buys appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Possibly carrying a higher risk due to their uniqueness, niche stocks can also play an important task in specialization that reduces the correlation of one’s overall portfolio to the broader indices. These results were made possible via solid execution from management and strong demand for fall ammonia application, which is part of UAN’s key operating segments. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Niche Stocks on the Rise: Why OC, LYB, and UAN Are Must-Buys appeared first on InvestorPlace.
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Owens Corning (OC) Source: TDKvisuals / Shutterstock.com Owens Corning (NYSE:OC) manufactures insulation and roofing. Foam insulation and polyurethane products are higher margin segments, which could boost OC’s bottom line. CVR Partners LP (UAN) Source: Fotokostic / Shutterstock.com CVR Partners LP (NYSE:UAN) specializes in producing and distributing nitrogen-based fertilizer products.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investing in niche stocks can help unlock gains for your portfolio. Its dividend yield of 9.59% and dividend growth of 37.78% year over year (YOY) positions it competitively toward its peers. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Niche Stocks on the Rise: Why OC, LYB, and UAN Are Must-Buys appeared first on InvestorPlace.
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These stocks often operate in specialized sectors or have unique business models that set them apart from mainstream companies. LYB pays a significant dividend, with a yield of 5.39%, and its dividend was also recently increased. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Niche Stocks on the Rise: Why OC, LYB, and UAN Are Must-Buys appeared first on InvestorPlace.
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153a699c-ce89-4d24-81da-66e65a180fd2
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713024.0
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2023-12-12 00:00:00 UTC
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Loop Media (LPTV) Reports Q4 Loss, Lags Revenue Estimates
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https://www.nasdaq.com/articles/loop-media-lptv-reports-q4-loss-lags-revenue-estimates
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Loop Media (LPTV) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.23 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -7.69%. A quarter ago, it was expected that this multichannel streaming platform would post a loss of $0.15 per share when it actually produced a loss of $0.15, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Loop Media, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $5.69 million for the quarter ended September 2023, missing the Zacks Consensus Estimate by 0.65%. This compares to year-ago revenues of $12.15 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Loop Media shares have lost about 80.4% since the beginning of the year versus the S&P 500's gain of 20.4%.
What's Next for Loop Media?
While Loop Media has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Loop Media: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.10 on $9.54 million in revenues for the coming quarter and -$0.37 on $39.8 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Broadcast Radio and Television is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Chicken Soup for the Soul Entertainment, Inc. (CSSE), has yet to report results for the quarter ended September 2023.
This company is expected to post quarterly loss of $1.21 per share in its upcoming report, which represents a year-over-year change of -7.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Chicken Soup for the Soul Entertainment, Inc.'s revenues are expected to be $100.99 million, up 39.5% from the year-ago quarter.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Loop Media, Inc. (LPTV) : Free Stock Analysis Report
Chicken Soup for the Soul Entertainment, Inc. (CSSE) : 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.
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While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. Another stock from the same industry, Chicken Soup for the Soul Entertainment, Inc. (CSSE), has yet to report results for the quarter ended September 2023. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Loop Media, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $5.69 million for the quarter ended September 2023, missing the Zacks Consensus Estimate by 0.65%. The current consensus EPS estimate is -$0.10 on $9.54 million in revenues for the coming quarter and -$0.37 on $39.8 million in revenues for the current fiscal year. Click to get this free report Loop Media, Inc. (LPTV) : Free Stock Analysis Report Chicken Soup for the Soul Entertainment, Inc. (CSSE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Loop Media (LPTV) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.13. Loop Media, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $5.69 million for the quarter ended September 2023, missing the Zacks Consensus Estimate by 0.65%. Click to get this free report Loop Media, Inc. (LPTV) : Free Stock Analysis Report Chicken Soup for the Soul Entertainment, Inc. (CSSE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Loop Media, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $5.69 million for the quarter ended September 2023, missing the Zacks Consensus Estimate by 0.65%. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock.
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94ad3a51-dd49-4072-8838-0e8fa2589adf
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713025.0
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2023-12-12 00:00:00 UTC
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ServiceNow (NOW) Outperforms Broader Market: What You Need to Know
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DCOMP
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https://www.nasdaq.com/articles/servicenow-now-outperforms-broader-market%3A-what-you-need-to-know
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nan
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ServiceNow (NOW) closed at $716.48 in the latest trading session, marking a +1.61% move from the prior day. This move outpaced the S&P 500's daily gain of 0.46%. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.7%.
The maker of software that automates companies' technology operations's shares have seen an increase of 10.45% over the last month, surpassing the Computer and Technology sector's gain of 4.16% and the S&P 500's gain of 4.85%.
The investment community will be paying close attention to the earnings performance of ServiceNow in its upcoming release. In that report, analysts expect ServiceNow to post earnings of $2.78 per share. This would mark year-over-year growth of 21.93%. Alongside, our most recent consensus estimate is anticipating revenue of $2.4 billion, indicating a 23.47% upward movement from the same quarter last year.
NOW's full-year Zacks Consensus Estimates are calling for earnings of $10.44 per share and revenue of $8.93 billion. These results would represent year-over-year changes of +37.55% and +23.27%, respectively.
Any recent changes to analyst estimates for ServiceNow should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, ServiceNow possesses a Zacks Rank of #2 (Buy).
In terms of valuation, ServiceNow is currently trading at a Forward P/E ratio of 67.55. For comparison, its industry has an average Forward P/E of 25.09, which means ServiceNow is trading at a premium to the group.
Also, we should mention that NOW has a PEG ratio of 2.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 2.39.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
ServiceNow, Inc. (NOW) : 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.
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Alongside, our most recent consensus estimate is anticipating revenue of $2.4 billion, indicating a 23.47% upward movement from the same quarter last year. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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As the market closed yesterday, the Computers - IT Services industry was having an average PEG ratio of 2.39. Want the latest recommendations from Zacks Investment Research? Click to get this free report ServiceNow, Inc. (NOW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Click to get this free report ServiceNow, Inc. (NOW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ServiceNow (NOW) closed at $716.48 in the latest trading session, marking a +1.61% move from the prior day. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries. Want the latest recommendations from Zacks Investment Research?
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5327f66a-c1c7-42e3-8a1d-ece0bbfa8363
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713026.0
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2023-12-12 00:00:00 UTC
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LLY Down as Patients Regain Weight After Stopping Zepbound
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https://www.nasdaq.com/articles/lly-down-as-patients-regain-weight-after-stopping-zepbound
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Shares of Eli Lilly LLY lost 2.3% on Monday after it announced detailed results from the phase III SURMOUNT-4 study, which showed that patients who stop using its obesity drug Zepbound (tirzepatide) for over a year might slowly regain their lost weight. These results were also published in the Journal of the American Medical Association (JAMA).
The SURMOUNT-4 study evaluated Zepbound against placebo in adults with obesity or overweight with weight-related comorbidities (excluding type 2 diabetes) for over 88 weeks.
As part of the SURMOUNT-4 study design, the enrolled patients were initially required to take Zepbound for 36 weeks (“lead-in period”). A total of 670 study participants completed the 36-week treatment period and achieved a mean weight reduction of 20.9%. Subsequently, these study participants were then randomized into two equal groups (n=335) to either continue receiving Zepbound or switch to a placebo for an additional 52 weeks (‘randomization period’).
Data from the SURMOUNT-4 study showed that those patients who continued to receive Zepbound achieved an additional mean weight loss of 5.5% over the randomization period. However, those randomized in the placebo group reported an average weight gain of 14%.
The overall mean weight reduction during the 88-week treatment period was 25.3% for Zepbound-administered patients compared with 9.9% for those receiving placebo. In addition, only 16.6% of patients who received a placebo maintained at least 80% of the weight loss achieved during the lead-in period compared with 89.5% of patients who were administered Zepbound.
Shares of Eli Lilly have surged 59.6% year to date compared with the industry’s 4.3% growth.
Image Source: Zacks Investment Research
Zepbound was approved by the FDA last month for chronic weight management in adults with obesity or overweight. It was launched by Lilly earlier this month. Tirzepatide was approved by the FDA last year under the trade name Mounjaro to treat adults with type 2 diabetes mellitus (“T2DM”).
Since its launch, Mounjaro has shown an impressive initial uptake, recording $1.4 billion in revenues in third-quarter 2023.Prior to Zepbound’s approval, Mounjaro was being used off-label for weight loss. Approval of the obesity indication would help Lilly rake in billions of dollars from tirzepatidesales.
Apart from Zepbound, Lilly is also evaluating other obesity candidates in its pipeline. The company’s pipeline currently also includes retatrutide (GGG tri-agonist) and orforglipron, which are being developed for type II diabetes and obesity. Earlier this August, Lilly acquired private biotech Versanis to strengthen its position in the obesity market further.
The obesity market has garnered much interest lately, ever since Novo Nordisk NVO received FDA approval for Wegovy. The FDA approved the Novo Nordisk drug in 2021 for chronic weight management in adults with obesity or overweight. Since approval, sales of the Novo Nordisk drug have been rising consistently, driven by increased demand for the drug. In October, Novo Nordisk raised its sales growth outlook for the full year 2023 to 32-38% at CER, compared to the previously issued guidance of 27-33%.
The obesity market is acquiring interest from other large-cap drug makers like AstraZeneca AZN and Roche RHHBY, who are also looking into options to enter the lucrative obesity space.
Earlier this month, Roche announced its foray into the obesity market when it entered into an agreement to acquire privately owned Carmot Therapeutics for $2.7 billion. The acquisition provides Roche access to Carmot’s differentiated portfolio of incretins, including lead assets CT-388, CT-996 and CT-868. Per Roche, the incretin-based portfolio could also be expanded to other indications where incretins play a role, including cardiovascular, retinal and neurodegenerative diseases.
Last month, AstraZeneca announced that it has entered into an exclusive deal with Chinese private biotech Eccogene to develop the latter’s oral drug, ECC5004, for treating obesity, type-II diabetes and other cardiometabolic conditions. With the agreement, AstraZeneca will get exclusive global development and commercialization rights to Eccogene in all territories except China. In China, Eccogene and AstraZeneca have joint rights.
Eli Lilly and Company Price
Eli Lilly and Company price | Eli Lilly and Company Quote
Zacks Rank
Eli Lilly currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
AstraZeneca PLC (AZN) : Free Stock Analysis Report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Eli Lilly and Company (LLY) : 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.
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Image Source: Zacks Investment Research Zepbound was approved by the FDA last month for chronic weight management in adults with obesity or overweight. Earlier this month, Roche announced its foray into the obesity market when it entered into an agreement to acquire privately owned Carmot Therapeutics for $2.7 billion. Last month, AstraZeneca announced that it has entered into an exclusive deal with Chinese private biotech Eccogene to develop the latter’s oral drug, ECC5004, for treating obesity, type-II diabetes and other cardiometabolic conditions.
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Image Source: Zacks Investment Research Zepbound was approved by the FDA last month for chronic weight management in adults with obesity or overweight. Eli Lilly and Company Price Eli Lilly and Company price | Eli Lilly and Company Quote Zacks Rank Eli Lilly currently carries a Zacks Rank #3 (Hold). Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Shares of Eli Lilly LLY lost 2.3% on Monday after it announced detailed results from the phase III SURMOUNT-4 study, which showed that patients who stop using its obesity drug Zepbound (tirzepatide) for over a year might slowly regain their lost weight. Eli Lilly and Company Price Eli Lilly and Company price | Eli Lilly and Company Quote Zacks Rank Eli Lilly currently carries a Zacks Rank #3 (Hold). Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Zepbound was approved by the FDA last month for chronic weight management in adults with obesity or overweight. Last month, AstraZeneca announced that it has entered into an exclusive deal with Chinese private biotech Eccogene to develop the latter’s oral drug, ECC5004, for treating obesity, type-II diabetes and other cardiometabolic conditions. Eli Lilly and Company Price Eli Lilly and Company price | Eli Lilly and Company Quote Zacks Rank Eli Lilly currently carries a Zacks Rank #3 (Hold).
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cf076a91-5baa-4250-904b-dadcac0ef78e
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713027.0
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2023-12-12 00:00:00 UTC
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Time Is Running Out: Contribute to Your 401(k) by the End of This Year
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DCOMP
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https://www.nasdaq.com/articles/time-is-running-out%3A-contribute-to-your-401k-by-the-end-of-this-year
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Your 401(k) can be an incredibly powerful tool for saving for your retirement. Between the automatic contributions from your paycheck, the possibility for an employer match, the tax benefits, and the fairly high annual investment limits, 401(k)s are very tough to beat.
Yet there is one key drawback to a 401(k) plan: Money in your 401(k) must be contributed directly from your paycheck, and it must be in the plan by December 31 to count as a contribution for 2023. As a result, time is running out. You must contribute to your 401(k) by the end of this year to have the money count toward your 2023 limits.
Image source: Getty Images
Why this matters so much
First and foremost, many employers use annual contribution amounts to determine how large your match will be. Match amounts vary by employer, but a typical match is 50% of the amount the employee contributes, up to 6% of that employee's salary. If you haven't hit your employer's match cap for 2023 yet, you might be able to reach it or at least get close with a December push. That match is money available to you that goes away forever if you don't contribute enough to your plan on time.
In addition to the match, each year has its own limits for 401(k) contributions. For 2023, the typical limit is $22,500 if you're under age 50 or $30,000 if you're 50 or up. If you don't hit your 2023 limit by Dec. 31, then any future money you contribute will count toward the limit of whatever year you do contribute it during.
Ultimately, though, the most important reason to get started now instead of waiting is because the longer you invest, the better your chances are of winding up with a decent sized nest egg. The table below shows how much you would end up with by investing $500 each month, depending on what rate of return you earn and how many years you keep up the investments.
YEARS OF INVESTING
10% ANNUAL RETURNS
8% ANNUAL RETURNS
6% ANNUAL RETURNS
4% ANNUAL RETURNS
45
$5,241,250.86
$2,637,269.95
$1,377,996.31
$754,734.87
40
$3,162,039.79
$1,745,503.92
$995,745.37
$590,980.67
35
$1,898,319.03
$1,146,941.24
$712,355.15
$456,865.47
30
$1,130,243.96
$745,179.72
$502,257.52
$347,024.70
25
$663,416.70
$475,513.20
$346,496.98
$257,064.77
20
$379,684.42
$294,510.21
$231,020.45
$183,387.31
15
$207,235.17
$173,019.11
$145,409.36
$123,045.24
Data source: author.
Whether you earn returns near the market's long-term historical 10% average, or whether future returns end up being lower, there is a huge benefit that comes from investing early and often. The sooner you start the payroll deductions that kick off your contributions to your 401(k), the more time you can potentially contribute to it.
With enough time on your side and reasonable returns, even $500 a month -- less than $17 per day -- invested into your 401(k) can be enough to get you to millionaire status by retirement. That's a compelling reason to start investing in your 401(k) now and let the automatic contributions continue to work for you over time.
Get started now
Whether it's because you want to maximize your match, get closer to your contribution limit for 2023, or start down the path of making regular investments for the future, time is running out. To have your 401(k) contribution count for 2023, you must have it deducted from your paycheck by December 31.
Many plans have processing times between when you fill out the paperwork and when you actually get your contributions flowing. As a result, to maximize your chances to get your contribution to count for 2023, make today the day you get your plan in place. Once you look back, decades from now, at the nest egg you've built thanks to making that decision, you'll very likely be happy you did.
The $21,756 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $21,756 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.
Chuck Saletta 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.
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Between the automatic contributions from your paycheck, the possibility for an employer match, the tax benefits, and the fairly high annual investment limits, 401(k)s are very tough to beat. Ultimately, though, the most important reason to get started now instead of waiting is because the longer you invest, the better your chances are of winding up with a decent sized nest egg. The $21,756 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings.
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Image source: Getty Images Why this matters so much First and foremost, many employers use annual contribution amounts to determine how large your match will be. Match amounts vary by employer, but a typical match is 50% of the amount the employee contributes, up to 6% of that employee's salary. If you don't hit your 2023 limit by Dec. 31, then any future money you contribute will count toward the limit of whatever year you do contribute it during.
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Yet there is one key drawback to a 401(k) plan: Money in your 401(k) must be contributed directly from your paycheck, and it must be in the plan by December 31 to count as a contribution for 2023. If you don't hit your 2023 limit by Dec. 31, then any future money you contribute will count toward the limit of whatever year you do contribute it during. Get started now Whether it's because you want to maximize your match, get closer to your contribution limit for 2023, or start down the path of making regular investments for the future, time is running out.
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You must contribute to your 401(k) by the end of this year to have the money count toward your 2023 limits. That match is money available to you that goes away forever if you don't contribute enough to your plan on time. Get started now Whether it's because you want to maximize your match, get closer to your contribution limit for 2023, or start down the path of making regular investments for the future, time is running out.
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2dc32506-992f-4f12-8906-96ca1d49ff9c
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713028.0
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2023-12-12 00:00:00 UTC
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Oracle's Q2 earnings report: Cloud highs, app lows
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DCOMP
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https://www.nasdaq.com/articles/oracles-q2-earnings-report%3A-cloud-highs-app-lows
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nan
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nan
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Oracle Corporation (NYSE: ORCL) is a giant in the technology sector and is known for its database and cloud computing solutions. The company saw its stock price drop in early morning trading today. This drop followed the release of the company's second-quarter earnings report, which fell short of analyst expectations regarding revenue growth.
A mixed bag with clouds on the horizon
Oracle's Q2 earnings report unveiled a mixed performance, depicting a company straddling the line between growth and stagnation. While revenue of $12.9 billion marked a 5.4% year-over-year increase, it fell short of the $13.05 billion analysts had anticipated. Despite meeting the company's own guidance, this revenue miss sent shockwaves through the market, causing the stock to drop.
Earnings, however, provided a silver lining. Adjusted earnings per share (EPS) came in at $1.34, exceeding the $1.33 analysts predicted and representing a healthy 19% increase over the same period last year. This suggests that Oracle still generates significant profits even as revenue growth slows.
The cloud business, a crucial driver of Oracle's future, presented a tale of two halves. Cloud infrastructure (OCI) revenue soared by a robust 52%, showcasing strong demand for Oracle's cloud computing solutions. This growth is encouraging, as it indicates that Oracle is successfully capturing a share of the rapidly expanding cloud market.
However, the cloud applications segment revealed a less rosy picture. Revenue growth for cloud applications was a more modest 15%, falling short of expectations and raising concerns about the competitiveness of Oracle's application offerings. This slower growth could indicate that Oracle is struggling to attract new customers and retain existing ones in the face of stiff competition from cloud-native rivals like Amazon Web Services and Microsoft Azure.
A perfect storm: A misstep, capacity concerns, and market jitters
Oracle's recent stock plunge was not a simple misstep. It was a perfect storm of circumstances that came together. The leading cause was a revenue shortfall. Investors were expecting stronger growth but were disappointed by the 5.4% year-over-year increase, particularly in the cloud applications segment, which saw a slowdown compared to previous quarters.
This disappointment was compounded by concerns surrounding the pace of Oracle Cloud Infrastructure (OCI) growth. While its 52% revenue surge is impressive, analysts expressed worries about potential limitations due to acknowledged capacity constraints. This uncertainty cast a shadow over Oracle's future cloud dominance.
Adding fuel to the fire were issues revolving around the 2022 acquisition of Cerner, the electronic health records company. While expected to be a significant contributor in the long run, it currently seems to be dragging down earnings, further impacting investor sentiment.
The overall market volatility played its part. With investors increasingly cautious due to recession fears and rising interest rates, Oracle's performance wasn't spared from the widespread anxiety.
Though each of these concerns is troubling, combined, they created a perfect storm that caused Oracle’s stock to plummet. Despite the company’s solid fundamentals and future potential, navigating this turbulent landscape will require addressing the underlying issues and reassuring investors that clear skies are still ahead.
Analysts' perspectives: The view from the tower
Despite the adverse stock reaction, some analysts remain optimistic about Oracle's long-term prospects. They highlight the company's strong balance sheet, healthy cash flow, and commitment to innovation, particularly in generative AI. Others, however, express concerns about the company's ability to maintain its high growth trajectory and compete effectively with cloud-native players like Amazon (NASDAQ: AMZN) Web Services and Microsoft (NASDAQ: MSFT) Azure.
Navigating turbulent skies: Oracle's key challenges
While the current clouds may be casting a shadow over Oracle's stock performance, its future success ultimately hinges on its ability to overcome critical challenges:
Accelerating OCI growth: The robust 52% year-over-year revenue increase in Oracle Cloud Infrastructure (OCI) is a promising sign. However, maintaining this momentum requires rapid expansion of its capacity. Addressing current limitations and proactively scaling infrastructure will be crucial to meeting increasing demand and fending off competition in the fiercely contested cloud market.
Rejuvenating cloud applications growth: While OCI thrives, the cloud applications segment saw a more sluggish 15% growth, raising concerns about its competitiveness. Oracle must make its cloud applications more compelling and attractive to customers to regain investor confidence. This might involve strategic partnerships, innovative product offerings, or enhanced customer service to gain an edge over established rivals like AWS and Azure.
Unlocking Cerner's potential: The acquisition of Cerner holds significant promise for Oracle's future in the healthcare sector. However, a seamless and successful integration is paramount to unlocking its full potential. Streamlining processes, optimizing workflows, and ensuring data security will transform Cerner into a valuable asset contributing to overall growth.
Weathering market volatility: The current market climate, characterized by recession anxieties and rising interest rates, presents an additional challenge. To navigate this turbulence, Oracle needs to prioritize operational efficiency and cost control. By optimizing its internal processes and minimizing unnecessary expenditures, it can demonstrate resilience in the face of external headwinds and reassure investors of its ability to thrive even in challenging market conditions.
Investors considering Oracle stocks should carefully evaluate the company's long-term prospects and weigh the risks and rewards before deciding. The company's strong fundamentals and innovative technologies present potential upside, but the current challenges and competitive landscape require careful consideration.
While the recent stock drop is concerning, it's important to remember that Oracle remains a major player in the software industry with a strong track record and significant growth potential. The company's ability to address its challenges and execute its growth strategy will ultimately determine its future success and stock price performance.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This slower growth could indicate that Oracle is struggling to attract new customers and retain existing ones in the face of stiff competition from cloud-native rivals like Amazon Web Services and Microsoft Azure. By optimizing its internal processes and minimizing unnecessary expenditures, it can demonstrate resilience in the face of external headwinds and reassure investors of its ability to thrive even in challenging market conditions. While the recent stock drop is concerning, it's important to remember that Oracle remains a major player in the software industry with a strong track record and significant growth potential.
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Cloud infrastructure (OCI) revenue soared by a robust 52%, showcasing strong demand for Oracle's cloud computing solutions. Navigating turbulent skies: Oracle's key challenges While the current clouds may be casting a shadow over Oracle's stock performance, its future success ultimately hinges on its ability to overcome critical challenges: Accelerating OCI growth: The robust 52% year-over-year revenue increase in Oracle Cloud Infrastructure (OCI) is a promising sign. The company's strong fundamentals and innovative technologies present potential upside, but the current challenges and competitive landscape require careful consideration.
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Revenue growth for cloud applications was a more modest 15%, falling short of expectations and raising concerns about the competitiveness of Oracle's application offerings. Navigating turbulent skies: Oracle's key challenges While the current clouds may be casting a shadow over Oracle's stock performance, its future success ultimately hinges on its ability to overcome critical challenges: Accelerating OCI growth: The robust 52% year-over-year revenue increase in Oracle Cloud Infrastructure (OCI) is a promising sign. Rejuvenating cloud applications growth: While OCI thrives, the cloud applications segment saw a more sluggish 15% growth, raising concerns about its competitiveness.
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This drop followed the release of the company's second-quarter earnings report, which fell short of analyst expectations regarding revenue growth. Navigating turbulent skies: Oracle's key challenges While the current clouds may be casting a shadow over Oracle's stock performance, its future success ultimately hinges on its ability to overcome critical challenges: Accelerating OCI growth: The robust 52% year-over-year revenue increase in Oracle Cloud Infrastructure (OCI) is a promising sign. Unlocking Cerner's potential: The acquisition of Cerner holds significant promise for Oracle's future in the healthcare sector.
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bc8381c5-e8af-43e3-a8c5-9ee9e19261dc
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713029.0
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2023-12-12 00:00:00 UTC
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iShares ESG MSCI USA Leaders ETF Experiences Big Outflow
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DCOMP
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https://www.nasdaq.com/articles/ishares-esg-msci-usa-leaders-etf-experiences-big-outflow
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares ESG MSCI USA Leaders ETF (Symbol: SUSL) where we have detected an approximate $102.3 million dollar outflow -- that's a 8.7% decrease week over week (from 14,450,000 to 13,200,000). Among the largest underlying components of SUSL, in trading today Coca-Cola Co (Symbol: KO) is up about 0.5%, American Express Co. (Symbol: AXP) is up about 0.5%, and Morgan Stanley (Symbol: MS) is higher by about 0.5%. For a complete list of holdings, visit the SUSL Holdings page » The chart below shows the one year price performance of SUSL, versus its 200 day moving average:
Looking at the chart above, SUSL's low point in its 52 week range is $64.98 per share, with $81.87 as the 52 week high point — that compares with a last trade of $81.87. 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:
Institutional Holders of EMX
ULE Options Chain
SLYV market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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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: Institutional Holders of EMX ULE Options Chain SLYV market cap history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For a complete list of holdings, visit the SUSL Holdings page » The chart below shows the one year price performance of SUSL, versus its 200 day moving average: Looking at the chart above, SUSL's low point in its 52 week range is $64.98 per share, with $81.87 as the 52 week high point — that compares with a last trade of $81.87. 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: Institutional Holders of EMX ULE Options Chain SLYV market cap history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares ESG MSCI USA Leaders ETF (Symbol: SUSL) where we have detected an approximate $102.3 million dollar outflow -- that's a 8.7% decrease week over week (from 14,450,000 to 13,200,000). For a complete list of holdings, visit the SUSL Holdings page » The chart below shows the one year price performance of SUSL, versus its 200 day moving average: Looking at the chart above, SUSL's low point in its 52 week range is $64.98 per share, with $81.87 as the 52 week high point — that compares with a last trade of $81.87. 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.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares ESG MSCI USA Leaders ETF (Symbol: SUSL) where we have detected an approximate $102.3 million dollar outflow -- that's a 8.7% decrease week over week (from 14,450,000 to 13,200,000). For a complete list of holdings, visit the SUSL Holdings page » The chart below shows the one year price performance of SUSL, versus its 200 day moving average: Looking at the chart above, SUSL's low point in its 52 week range is $64.98 per share, with $81.87 as the 52 week high point — that compares with a last trade of $81.87. 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.
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e981b07c-a82c-49a5-acba-ad559b55b79d
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713030.0
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2023-12-12 00:00:00 UTC
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DOMO's Strong Clientele & Partner Base Boost Portfolio
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DCOMP
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https://www.nasdaq.com/articles/domos-strong-clientele-partner-base-boost-portfolio
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nan
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nan
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Domo’s DOMO data experience platform has been chosen by Edify.ai to help its construction, mining, energy and manufacturing businesses with data safety and security.
Edify will benefit from the integration of Domo's technology in producing standard, branded dashboards, adapting them to certain consumer categories and including them in its offering.
The combination of Domo Everywhere and Domo.AI will enable Edify customers to receive data visualizations and actionable insights by speaking into the app and quickly accessing worksite data.
Domo’s AI and integrating capabilities will help Edify improve data on the field and in the front office.
Domo, Inc. Price and Consensus
Domo, Inc. price-consensus-chart | Domo, Inc. Quote
Domo Rides on Strong Portfolio
Domo is riding on its expanding clientele and AI-based software solutions. In the past month, the company’s shares have returned 6.6% compared with the Zacks Computer & Technology sector’s rise of 4.4%.
Its cloud amplifier enables companies to boost the impact of their business by combining data and reporting investments, harmonizing data governance and offering real-time data and insights.
Domo recently partnered with Google Cloud to provide its clients with the Google Cloud Ready - BigQuery designation, allowing them to instantly integrate with BigQuery and analyze data across various configurations.
Domo recently introduced a cloud amplifier to strengthen its multi-cloud data offerings.
It also announced a native interface with Dremio, which increases the flexibility of analytics, querying and transformations and gives users access to data on the Domo platform via mobile apps and Microsoft Office integrations. The company recently revealed numerous new capabilities targeted at improving the data experience for all employees, regardless of skill level, and assisting users in all phases of their data journey.
Domo’s platform provides low-code to pro-code options to enable collaboration and the creation of custom visualizations, as well as data-driven decision-making.
The company provides the security and governance that businesses need to keep complete control over their data.
Domo's top-line growth is expected to have been impacted by a challenging macroeconomic environment that has made the software sales process more complex, resulting in longer deal cycles and increased scrutiny of negotiations.
However, its ongoing efforts to bolster its portfolio are expected to drive the top line.
For the fourth quarter of 2024, Domo expects revenues between $79 million and $80 million. Non-GAAP net loss is expected in the range of 5 cents to 9 cents per share.
The Zacks Consensus Estimate for Domo’s revenues for the fourth quarter of 2024 is pegged at $79.46 million, indicating a decline of 0.2% year over year.
The consensus mark for the bottom line is pegged at a loss of 9 cents per share, narrower by a couple of cents over the past 30 days.
For fiscal 2024, Domo expects revenues between $317.8 million and $318.8 million. Non-GAAP net loss is expected between 24 cents and 28 cents per share.
The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $318.27 million, indicating 3.12% growth year over year.
The consensus mark for the fiscal 2024 bottom line is pegged at a loss of 37 cents per share.
Zacks Rank & Other Stocks to Consider
Currently, Domo carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Flex FLEX, Badger Meter BMI and NetEase NTES, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flex shares have gained 20.2% in the year-to-date period. Flex’s long-term earnings growth rate is currently projected at 12.4%.
Badger Meter’s shares have gained 38.8% in the year-to-date period. Badger Meter’s long-term earnings growth rate is currently projected at 20.4%.
NetEase shares have gained 44.5% in the year-to-date period. NetEase's long-term earnings growth rate is currently projected at 15.9%.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Flex Ltd. (FLEX) : Free Stock Analysis Report
NetEase, Inc. (NTES) : Free Stock Analysis Report
Domo, Inc. (DOMO) : 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.
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Edify will benefit from the integration of Domo's technology in producing standard, branded dashboards, adapting them to certain consumer categories and including them in its offering. It also announced a native interface with Dremio, which increases the flexibility of analytics, querying and transformations and gives users access to data on the Domo platform via mobile apps and Microsoft Office integrations. Domo's top-line growth is expected to have been impacted by a challenging macroeconomic environment that has made the software sales process more complex, resulting in longer deal cycles and increased scrutiny of negotiations.
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Its cloud amplifier enables companies to boost the impact of their business by combining data and reporting investments, harmonizing data governance and offering real-time data and insights. Some other top-ranked stocks in the broader technology sector are Flex FLEX, Badger Meter BMI and NetEase NTES, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report Domo, Inc. (DOMO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Domo’s DOMO data experience platform has been chosen by Edify.ai to help its construction, mining, energy and manufacturing businesses with data safety and security. Domo, Inc. Price and Consensus Domo, Inc. price-consensus-chart | Domo, Inc. Quote Domo Rides on Strong Portfolio Domo is riding on its expanding clientele and AI-based software solutions. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report Domo, Inc. (DOMO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Its cloud amplifier enables companies to boost the impact of their business by combining data and reporting investments, harmonizing data governance and offering real-time data and insights. The consensus mark for the fiscal 2024 bottom line is pegged at a loss of 37 cents per share. Some other top-ranked stocks in the broader technology sector are Flex FLEX, Badger Meter BMI and NetEase NTES, each sporting a Zacks Rank #1 (Strong Buy).
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196fb920-6fc3-46de-bade-c337d3773416
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713031.0
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2023-12-12 00:00:00 UTC
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Why Investors Should Retain Restaurant Brands (QSR) Stock Now
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DCOMP
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https://www.nasdaq.com/articles/why-investors-should-retain-restaurant-brands-qsr-stock-now
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nan
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nan
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Restaurant Brands International Inc. QSR is benefiting from strong comparable sales, ongoing expansion initiatives, menu innovations and robust digital sales. As a result, the company's stock has seen a 7% increase in the last three months, outperforming the industry's 1.8% growth. Despite these positive trends, the company remains cautious due to elevated costs.
This Zacks Rank #3 (Hold) company’s earnings and revenues in 2023 are likely to witness growth of 2.9% and 7.7%, year over year, respectively. In the past 30 days, earnings estimates for 2023 have witnessed upward revisions of 0.3%.
Growth Catalysts
The company impressed investors with solid comps. In third-quarter 2023, its consolidated comparable sales came in at 7% compared with 8.6% reported in the prior-year quarter. Comps in Tim Hortons, Burger King and Popeyes came in at 6.8%, 7.2% and 7% compared with 9.8%, 9.6% and 3.1%, respectively, reported in the prior-year quarter. The upside was primarily driven by higher traffic, strengthening of core offerings, enhanced restaurant operations and pricing initiatives.
The company is also focusing on expansion efforts to drive growth. Restaurant Brands believes that there is a huge opportunity to grow all its brands around the world by expanding its presence in existing markets and entering new markets. Currently, it has approximately 30,375 restaurants worldwide.
Restaurant Brands also continues to evaluate opportunities to speed up the international development of all three brands by establishing master franchisees with exclusive development rights and joint ventures with new and existing franchisees. During the third quarter of 2023, QSR opened 250 net new restaurants, contributing to 4.2% year-over-year growth in the overall restaurant count.
Restaurant Brands continues to focus on improving its level of service through comprehensive training, improved restaurant operations, reimaging efforts and attractive menu options to enhance overall guest satisfaction and thereby drive comps. The company has an unwavering focus on its goal to drive traffic and revenues at its restaurants through core product platforms, a continual focus on a balanced menu design, expansion of delivery business, promotional offerings, efforts to grow breakfast daypart and product launches.
On the other hand, the company continues to focus on expanding digital sales. During third-quarter 2023, digital sales increased more than 40% year over year, courtesy of strong contributions from kiosks and delivery. It showcased strong digitalization efforts and continued to drive growth for its Tim Hortons brand, with 5 million average monthly users and a consistent digital sales mix of approximately 30% in the quarter. It remains optimistic about the growth of digital sales in international markets, backed by various service modes.
Image Source: Zacks Investment Research
Concerns
The rise in labor and commodity costs continues to hurt the company. It has been witnessing labor challenges in a handful of markets. In third-quarter 2023, total costs of sales came in at $630 million, up 2.4% from $615 million reported in the prior-year quarter. The upside was mainly driven by an increase in commodity, labor and energy costs. The company remains cautious in this regard as further increases in inflation could result in foreign exchange volatility and rising interest rates, thereby adversely affecting the business and result of operations.
Key Picks
Some better-ranked stocks from the Zacks Retail-Wholesale sector are:
Brinker International, Inc. EAT currently sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 223.6%, on average. The stock has gained 15.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EAT’s 2024 sales and earnings per share (EPS) suggests a rise of 5.1% and 26.2%, respectively, from the year-ago period’s levels.
Abercrombie & Fitch Co. ANF flaunts a Zacks Rank #1 at present. It has a trailing four-quarter earnings surprise of 713%, on average. Shares of ANF have surged 253.1% in the past year.
The Zacks Consensus Estimate for ANF’s 2023 sales and EPS suggests increases of 12.8% and 2,088%, respectively, from the year-ago period’s levels.
Beacon Roofing Supply, Inc. BECN carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 11.1%, on average. Shares of BECN have gained 37.2% in the past year.
The Zacks Consensus Estimate for BECN’s 2023 sales and EPS indicates 7.2% and 8.2% growth, respectively, from the year-ago period’s levels.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
Brinker International, Inc. (EAT) : Free Stock Analysis Report
Beacon Roofing Supply, Inc. (BECN) : Free Stock Analysis Report
Restaurant Brands International Inc. (QSR) : 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.
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The upside was primarily driven by higher traffic, strengthening of core offerings, enhanced restaurant operations and pricing initiatives. Image Source: Zacks Investment Research Concerns The rise in labor and commodity costs continues to hurt the company. The Zacks Consensus Estimate for EAT’s 2024 sales and earnings per share (EPS) suggests a rise of 5.1% and 26.2%, respectively, from the year-ago period’s levels.
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The company has an unwavering focus on its goal to drive traffic and revenues at its restaurants through core product platforms, a continual focus on a balanced menu design, expansion of delivery business, promotional offerings, efforts to grow breakfast daypart and product launches. It showcased strong digitalization efforts and continued to drive growth for its Tim Hortons brand, with 5 million average monthly users and a consistent digital sales mix of approximately 30% in the quarter. Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report Brinker International, Inc. (EAT) : Free Stock Analysis Report Beacon Roofing Supply, Inc. (BECN) : Free Stock Analysis Report Restaurant Brands International Inc. (QSR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This Zacks Rank #3 (Hold) company’s earnings and revenues in 2023 are likely to witness growth of 2.9% and 7.7%, year over year, respectively. It showcased strong digitalization efforts and continued to drive growth for its Tim Hortons brand, with 5 million average monthly users and a consistent digital sales mix of approximately 30% in the quarter. Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report Brinker International, Inc. (EAT) : Free Stock Analysis Report Beacon Roofing Supply, Inc. (BECN) : Free Stock Analysis Report Restaurant Brands International Inc. (QSR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the past 30 days, earnings estimates for 2023 have witnessed upward revisions of 0.3%. It showcased strong digitalization efforts and continued to drive growth for its Tim Hortons brand, with 5 million average monthly users and a consistent digital sales mix of approximately 30% in the quarter. Image Source: Zacks Investment Research Concerns The rise in labor and commodity costs continues to hurt the company.
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e5c74094-0738-40fe-a350-c10d394c69a0
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713032.0
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2023-12-12 00:00:00 UTC
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SPLG, COST, ABBV, PEP: Large Inflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/splg-cost-abbv-pep%3A-large-inflows-detected-at-etf
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 ETF (Symbol: SPLG) where we have detected an approximate $279.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 432,250,000 to 437,400,000). Among the largest underlying components of SPLG, in trading today Costco Wholesale Corp (Symbol: COST) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 0.5%, and PepsiCo Inc (Symbol: PEP) is up by about 0.4%. For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average:
Looking at the chart above, SPLG's low point in its 52 week range is $44.07 per share, with $54.3713 as the 52 week high point — that compares with a last trade of $54.34. 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:
VERO YTD Return
Funds Holding BLTE
EXPL 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.
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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: VERO YTD Return Funds Holding BLTE EXPL 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.
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Among the largest underlying components of SPLG, in trading today Costco Wholesale Corp (Symbol: COST) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 0.5%, and PepsiCo Inc (Symbol: PEP) is up by about 0.4%. For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average: Looking at the chart above, SPLG's low point in its 52 week range is $44.07 per share, with $54.3713 as the 52 week high point — that compares with a last trade of $54.34. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 ETF (Symbol: SPLG) where we have detected an approximate $279.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 432,250,000 to 437,400,000). For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average: Looking at the chart above, SPLG's low point in its 52 week range is $44.07 per share, with $54.3713 as the 52 week high point — that compares with a last trade of $54.34. 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.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 ETF (Symbol: SPLG) where we have detected an approximate $279.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 432,250,000 to 437,400,000). Among the largest underlying components of SPLG, in trading today Costco Wholesale Corp (Symbol: COST) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 0.5%, and PepsiCo Inc (Symbol: PEP) is up by about 0.4%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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62edfaa0-7b36-4a74-ab0f-d93507394e35
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713033.0
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2023-12-12 00:00:00 UTC
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DIA, GS, HD, MCD: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/dia-gs-hd-mcd%3A-etf-inflow-alert
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Dow Jones Industrial Average ETF Trust (Symbol: DIA) where we have detected an approximate $638.2 million dollar inflow -- that's a 2.1% increase week over week in outstanding units (from 84,890,000 to 86,640,000). Among the largest underlying components of DIA, in trading today Goldman Sachs Group Inc (Symbol: GS) is off about 0.1%, Home Depot Inc (Symbol: HD) is up about 0.5%, and McDonald's Corp (Symbol: MCD) is higher by about 0.3%. For a complete list of holdings, visit the DIA Holdings page » The chart below shows the one year price performance of DIA, versus its 200 day moving average:
Looking at the chart above, DIA's low point in its 52 week range is $314.97 per share, with $365.66 as the 52 week high point — that compares with a last trade of $365.60. 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:
Cheap Shares To Watch
KOP Stock Predictions
Funds Holding FCTR
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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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: Cheap Shares To Watch KOP Stock Predictions Funds Holding FCTR The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For a complete list of holdings, visit the DIA Holdings page » The chart below shows the one year price performance of DIA, versus its 200 day moving average: Looking at the chart above, DIA's low point in its 52 week range is $314.97 per share, with $365.66 as the 52 week high point — that compares with a last trade of $365.60. 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: Cheap Shares To Watch KOP Stock Predictions Funds Holding FCTR The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Dow Jones Industrial Average ETF Trust (Symbol: DIA) where we have detected an approximate $638.2 million dollar inflow -- that's a 2.1% increase week over week in outstanding units (from 84,890,000 to 86,640,000). For a complete list of holdings, visit the DIA Holdings page » The chart below shows the one year price performance of DIA, versus its 200 day moving average: Looking at the chart above, DIA's low point in its 52 week range is $314.97 per share, with $365.66 as the 52 week high point — that compares with a last trade of $365.60. 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.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Dow Jones Industrial Average ETF Trust (Symbol: DIA) where we have detected an approximate $638.2 million dollar inflow -- that's a 2.1% increase week over week in outstanding units (from 84,890,000 to 86,640,000). For a complete list of holdings, visit the DIA Holdings page » The chart below shows the one year price performance of DIA, versus its 200 day moving average: Looking at the chart above, DIA's low point in its 52 week range is $314.97 per share, with $365.66 as the 52 week high point — that compares with a last trade of $365.60. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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ef7f8465-1fec-4494-9176-3c010864f104
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713034.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: KBR, Hillenbrand and Air Lease
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-kbr-hillenbrand-and-air-lease
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, KBR Inc (Symbol: KBR), Hillenbrand Inc (Symbol: HI), and Air Lease Corp (Symbol: AL) will all trade ex-dividend for their respective upcoming dividends. KBR Inc will pay its quarterly dividend of $0.135 on 1/16/24, Hillenbrand Inc will pay its quarterly dividend of $0.2225 on 12/29/23, and Air Lease Corp will pay its quarterly dividend of $0.21 on 1/10/24. As a percentage of KBR's recent stock price of $52.39, this dividend works out to approximately 0.26%, so look for shares of KBR Inc to trade 0.26% lower — all else being equal — when KBR shares open for trading on 12/14/23. Similarly, investors should look for HI to open 0.55% lower in price and for AL to open 0.53% lower, all else being equal.
Below are dividend history charts for KBR, HI, and AL, showing historical dividends prior to the most recent ones declared.
KBR Inc (Symbol: KBR):
Hillenbrand Inc (Symbol: HI):
Air Lease Corp (Symbol: AL):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.03% for KBR Inc, 2.18% for Hillenbrand Inc, and 2.12% for Air Lease Corp.
In Tuesday trading, KBR Inc shares are currently up about 0.3%, Hillenbrand Inc shares are trading flat, and Air Lease Corp shares are off about 0.2% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Stocks Where Yields Got More Juicy
QSII market cap history
Institutional Holders of FXCO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 1.03% for KBR Inc, 2.18% for Hillenbrand Inc, and 2.12% for Air Lease Corp. dividend stocks should be on your radar screen » Also see: Stocks Where Yields Got More Juicy QSII market cap history Institutional Holders of FXCO The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, KBR Inc (Symbol: KBR), Hillenbrand Inc (Symbol: HI), and Air Lease Corp (Symbol: AL) will all trade ex-dividend for their respective upcoming dividends. KBR Inc will pay its quarterly dividend of $0.135 on 1/16/24, Hillenbrand Inc will pay its quarterly dividend of $0.2225 on 12/29/23, and Air Lease Corp will pay its quarterly dividend of $0.21 on 1/10/24. KBR Inc (Symbol: KBR): Hillenbrand Inc (Symbol: HI): Air Lease Corp (Symbol: AL): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, KBR Inc (Symbol: KBR), Hillenbrand Inc (Symbol: HI), and Air Lease Corp (Symbol: AL) will all trade ex-dividend for their respective upcoming dividends. KBR Inc will pay its quarterly dividend of $0.135 on 1/16/24, Hillenbrand Inc will pay its quarterly dividend of $0.2225 on 12/29/23, and Air Lease Corp will pay its quarterly dividend of $0.21 on 1/10/24. As a percentage of KBR's recent stock price of $52.39, this dividend works out to approximately 0.26%, so look for shares of KBR Inc to trade 0.26% lower — all else being equal — when KBR shares open for trading on 12/14/23.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, KBR Inc (Symbol: KBR), Hillenbrand Inc (Symbol: HI), and Air Lease Corp (Symbol: AL) will all trade ex-dividend for their respective upcoming dividends. As a percentage of KBR's recent stock price of $52.39, this dividend works out to approximately 0.26%, so look for shares of KBR Inc to trade 0.26% lower — all else being equal — when KBR shares open for trading on 12/14/23. This can help in judging whether the most recent dividends from these companies are likely to continue.
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933fdf3e-e190-4d1b-9797-7c0477e36bf8
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713035.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: Kforce, Enersys and GATX
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-kforce-enersys-and-gatx
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Kforce Inc. (Symbol: KFRC), Enersys (Symbol: ENS), and GATX Corp (Symbol: GATX) will all trade ex-dividend for their respective upcoming dividends. Kforce Inc. will pay its quarterly dividend of $0.36 on 12/29/23, Enersys will pay its quarterly dividend of $0.225 on 12/29/23, and GATX Corp will pay its quarterly dividend of $0.55 on 12/31/23. As a percentage of KFRC's recent stock price of $69.92, this dividend works out to approximately 0.51%, so look for shares of Kforce Inc. to trade 0.51% lower — all else being equal — when KFRC shares open for trading on 12/14/23. Similarly, investors should look for ENS to open 0.24% lower in price and for GATX to open 0.48% lower, all else being equal.
Below are dividend history charts for KFRC, ENS, and GATX, showing historical dividends prior to the most recent ones declared.
Kforce Inc. (Symbol: KFRC):
Enersys (Symbol: ENS):
GATX Corp (Symbol: GATX):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.06% for Kforce Inc., 0.97% for Enersys, and 1.93% for GATX Corp.
In Tuesday trading, Kforce Inc. shares are currently up about 1.2%, Enersys shares are up about 0.3%, and GATX Corp shares are up about 0.7% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Top Dividend Stocks
Top Ten Hedge Funds Holding GWL
Top Ten Hedge Funds Holding UUP
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 2.06% for Kforce Inc., 0.97% for Enersys, and 1.93% for GATX Corp. dividend stocks should be on your radar screen » Also see: Top Dividend Stocks Top Ten Hedge Funds Holding GWL Top Ten Hedge Funds Holding UUP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Kforce Inc. (Symbol: KFRC), Enersys (Symbol: ENS), and GATX Corp (Symbol: GATX) will all trade ex-dividend for their respective upcoming dividends. Kforce Inc. (Symbol: KFRC): Enersys (Symbol: ENS): GATX Corp (Symbol: GATX): In general, dividends are not always predictable, following the ups and downs of company profits over time. dividend stocks should be on your radar screen » Also see: Top Dividend Stocks Top Ten Hedge Funds Holding GWL Top Ten Hedge Funds Holding UUP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Kforce Inc. (Symbol: KFRC), Enersys (Symbol: ENS), and GATX Corp (Symbol: GATX) will all trade ex-dividend for their respective upcoming dividends. Kforce Inc. will pay its quarterly dividend of $0.36 on 12/29/23, Enersys will pay its quarterly dividend of $0.225 on 12/29/23, and GATX Corp will pay its quarterly dividend of $0.55 on 12/31/23. Kforce Inc. (Symbol: KFRC): Enersys (Symbol: ENS): GATX Corp (Symbol: GATX): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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As a percentage of KFRC's recent stock price of $69.92, this dividend works out to approximately 0.51%, so look for shares of Kforce Inc. to trade 0.51% lower — all else being equal — when KFRC shares open for trading on 12/14/23. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.06% for Kforce Inc., 0.97% for Enersys, and 1.93% for GATX Corp.
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1ffb43f3-882f-43be-9a8f-8e07591a3236
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713036.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: Telephone & Data Systems, Marten Transport and Leidos Holdings
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-telephone-data-systems-marten-transport-and-leidos-holdings
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Telephone & Data Systems Inc (Symbol: TDS), Marten Transport Ltd (Symbol: MRTN), and Leidos Holdings Inc (Symbol: LDOS) will all trade ex-dividend for their respective upcoming dividends. Telephone & Data Systems Inc will pay its quarterly dividend of $0.185 on 12/29/23, Marten Transport Ltd will pay its quarterly dividend of $0.06 on 12/29/23, and Leidos Holdings Inc will pay its quarterly dividend of $0.38 on 12/29/23. As a percentage of TDS's recent stock price of $18.40, this dividend works out to approximately 1.01%, so look for shares of Telephone & Data Systems Inc to trade 1.01% lower — all else being equal — when TDS shares open for trading on 12/14/23. Similarly, investors should look for MRTN to open 0.31% lower in price and for LDOS to open 0.35% lower, all else being equal.
Below are dividend history charts for TDS, MRTN, and LDOS, showing historical dividends prior to the most recent ones declared.
Telephone & Data Systems Inc (Symbol: TDS):
Marten Transport Ltd (Symbol: MRTN):
Leidos Holdings Inc (Symbol: LDOS):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 4.02% for Telephone & Data Systems Inc, 1.24% for Marten Transport Ltd, and 1.40% for Leidos Holdings Inc.
In Tuesday trading, Telephone & Data Systems Inc shares are currently down about 1%, Marten Transport Ltd shares are up about 1%, and Leidos Holdings Inc shares are down about 0.2% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
IONS shares outstanding history
Funds Holding HTGY
XPOF Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 4.02% for Telephone & Data Systems Inc, 1.24% for Marten Transport Ltd, and 1.40% for Leidos Holdings Inc. dividend stocks should be on your radar screen » Also see: IONS shares outstanding history Funds Holding HTGY XPOF Insider Buying The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Telephone & Data Systems Inc (Symbol: TDS), Marten Transport Ltd (Symbol: MRTN), and Leidos Holdings Inc (Symbol: LDOS) will all trade ex-dividend for their respective upcoming dividends. Telephone & Data Systems Inc will pay its quarterly dividend of $0.185 on 12/29/23, Marten Transport Ltd will pay its quarterly dividend of $0.06 on 12/29/23, and Leidos Holdings Inc will pay its quarterly dividend of $0.38 on 12/29/23. Telephone & Data Systems Inc (Symbol: TDS): Marten Transport Ltd (Symbol: MRTN): Leidos Holdings Inc (Symbol: LDOS): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Telephone & Data Systems Inc (Symbol: TDS), Marten Transport Ltd (Symbol: MRTN), and Leidos Holdings Inc (Symbol: LDOS) will all trade ex-dividend for their respective upcoming dividends. Telephone & Data Systems Inc will pay its quarterly dividend of $0.185 on 12/29/23, Marten Transport Ltd will pay its quarterly dividend of $0.06 on 12/29/23, and Leidos Holdings Inc will pay its quarterly dividend of $0.38 on 12/29/23. Telephone & Data Systems Inc (Symbol: TDS): Marten Transport Ltd (Symbol: MRTN): Leidos Holdings Inc (Symbol: LDOS): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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As a percentage of TDS's recent stock price of $18.40, this dividend works out to approximately 1.01%, so look for shares of Telephone & Data Systems Inc to trade 1.01% lower — all else being equal — when TDS shares open for trading on 12/14/23. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 4.02% for Telephone & Data Systems Inc, 1.24% for Marten Transport Ltd, and 1.40% for Leidos Holdings Inc.
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5f1d4860-29fd-4aa1-9d86-1518ae35cd29
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713037.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: Federal Agricultural Mortgage, Hamilton Lane and Enterprise Financial Services
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-federal-agricultural-mortgage-hamilton-lane-and-enterprise-financial
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Federal Agricultural Mortgage Corp (Symbol: AGM), Hamilton Lane Incorporated - Class A (Symbol: HLNE), and Enterprise Financial Services Corp (Symbol: EFSC) will all trade ex-dividend for their respective upcoming dividends. Federal Agricultural Mortgage Corp will pay its quarterly dividend of $1.10 on 12/29/23, Hamilton Lane Incorporated - Class A will pay its quarterly dividend of $0.445 on 1/5/24, and Enterprise Financial Services Corp will pay its quarterly dividend of $0.25 on 12/29/23. As a percentage of AGM's recent stock price of $170.85, this dividend works out to approximately 0.64%, so look for shares of Federal Agricultural Mortgage Corp to trade 0.64% lower — all else being equal — when AGM shares open for trading on 12/14/23. Similarly, investors should look for HLNE to open 0.42% lower in price and for EFSC to open 0.60% lower, all else being equal.
Below are dividend history charts for AGM, HLNE, and EFSC, showing historical dividends prior to the most recent ones declared.
Federal Agricultural Mortgage Corp (Symbol: AGM):
Hamilton Lane Incorporated - Class A (Symbol: HLNE):
Enterprise Financial Services Corp (Symbol: EFSC):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.58% for Federal Agricultural Mortgage Corp, 1.70% for Hamilton Lane Incorporated - Class A, and 2.39% for Enterprise Financial Services Corp.
In Tuesday trading, Federal Agricultural Mortgage Corp shares are currently down about 0.7%, Hamilton Lane Incorporated - Class A shares are up about 1.2%, and Enterprise Financial Services Corp shares are trading flat on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Top Ten Hedge Funds Holding FOR
ACN Average Annual Return
TBTC Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As a percentage of AGM's recent stock price of $170.85, this dividend works out to approximately 0.64%, so look for shares of Federal Agricultural Mortgage Corp to trade 0.64% lower — all else being equal — when AGM shares open for trading on 12/14/23. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. dividend stocks should be on your radar screen » Also see: Top Ten Hedge Funds Holding FOR ACN Average Annual Return TBTC Insider Buying The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Federal Agricultural Mortgage Corp (Symbol: AGM), Hamilton Lane Incorporated - Class A (Symbol: HLNE), and Enterprise Financial Services Corp (Symbol: EFSC) will all trade ex-dividend for their respective upcoming dividends. Federal Agricultural Mortgage Corp will pay its quarterly dividend of $1.10 on 12/29/23, Hamilton Lane Incorporated - Class A will pay its quarterly dividend of $0.445 on 1/5/24, and Enterprise Financial Services Corp will pay its quarterly dividend of $0.25 on 12/29/23. Federal Agricultural Mortgage Corp (Symbol: AGM): Hamilton Lane Incorporated - Class A (Symbol: HLNE): Enterprise Financial Services Corp (Symbol: EFSC): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Federal Agricultural Mortgage Corp (Symbol: AGM), Hamilton Lane Incorporated - Class A (Symbol: HLNE), and Enterprise Financial Services Corp (Symbol: EFSC) will all trade ex-dividend for their respective upcoming dividends. Federal Agricultural Mortgage Corp will pay its quarterly dividend of $1.10 on 12/29/23, Hamilton Lane Incorporated - Class A will pay its quarterly dividend of $0.445 on 1/5/24, and Enterprise Financial Services Corp will pay its quarterly dividend of $0.25 on 12/29/23. Federal Agricultural Mortgage Corp (Symbol: AGM): Hamilton Lane Incorporated - Class A (Symbol: HLNE): Enterprise Financial Services Corp (Symbol: EFSC): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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As a percentage of AGM's recent stock price of $170.85, this dividend works out to approximately 0.64%, so look for shares of Federal Agricultural Mortgage Corp to trade 0.64% lower — all else being equal — when AGM shares open for trading on 12/14/23. Federal Agricultural Mortgage Corp (Symbol: AGM): Hamilton Lane Incorporated - Class A (Symbol: HLNE): Enterprise Financial Services Corp (Symbol: EFSC): In general, dividends are not always predictable, following the ups and downs of company profits over time. If they do continue, the current estimated yields on annualized basis would be 2.58% for Federal Agricultural Mortgage Corp, 1.70% for Hamilton Lane Incorporated - Class A, and 2.39% for Enterprise Financial Services Corp.
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d41fceb8-0603-4de5-95e5-5eae83d13646
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713038.0
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2023-12-12 00:00:00 UTC
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Bristol Myers (BMY) Partners With SystImmune for Oncology Drug
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DCOMP
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https://www.nasdaq.com/articles/bristol-myers-bmy-partners-with-systimmune-for-oncology-drug
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nan
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nan
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Bristol Myers Squibb BMY has entered an exclusive license and collaboration agreement with Redmond-based clinical-stage biopharmaceutical company SystImmune to jointly develop and commercialize oncology candidate BL-B01D1 in the United States.
SystImmune’s BL-B01D1, a potentially first-in-class EGFRxHER3 bispecific antibody-drug conjugate (“ADC”), is currently being evaluated in a global multi-center early-stage study for the safety and efficacy in individuals with metastatic or unresectable non-small cell lung cancer (NSCLC).
The candidate has also shown potential in breast cancer and can also be evaluated for additional tumor types.
Per the terms, Bristol Myers will make an upfront payment of $800 million to SystImmune. Both companies will share certain global development expenses and profits and losses in the United States.
SystImmune is entitled to get up to $500 million in contingent near-term payments and is also eligible to receive additional milestone payments of up to $7.1 billion upon the achievement of certain development, regulatory and sales performance milestones for a total potential consideration of up to $8.4 billion.
While SystImmune retains exclusive development and commercialization rights in Mainland China, Bristol Myers Squibb will receive a royalty on net sales. Bristol Myers Squibb will assume sole responsibility for development and commercialization of the candidate in the rest of the world. SystImmune will receive a tiered royalty on net sales outside the United States and Mainland China.
The collaboration with SystImmune diversifies Bristol Myers Squibb’s oncology portfolio and strengthens its presence in the ADC space.
BMY shares have lost 30.3% year to date compared with the industry's decline of 19.8%.
Image Source: Zacks Investment Research
The company has been looking to strengthen its portfolio/pipeline through strategic agreements and collaborations.
Bristol Myers recently expanded its collaboration with Avidity Biosciences, Inc. RNA. The expanded collaboration will focus on the discovery, development and commercialization of up to five cardiovascular targets leveraging Avidity's proprietary antibody oligonucleotide conjugates platform technology, with potential cumulative payments of up to $2.3 billion. The company announced an upfront cash payment of $60 million to Avidity. BMY will also purchase approximately $40 million of Avidity’s common stock at a price of $7.88 per share.
In October 2023, Bristol Myers announced that it would acquire commercial-stage oncology company Mirati Therapeutics, Inc. MRTX for $58.00 per share in cash, amounting to a total equity value of $4.8 billion. The total equity value corresponds to an enterprise value of $3.7 billion, which accounts for $1.1 billion of cash held by Mirati.
The acquisition will add Mirati’s lung cancer drug Krazati (adagrasib) to BMY’s strong oncology portfolio. The FDA approved Krazati in December 2022 for the treatment of adult patients with KRAS-mutated locally advanced or metastatic NSCLC who have received at least one prior systemic therapy.
Bristol Myers is looking to offset its declining revenues from the blockbuster multiple myeloma drug Revlimid and the blood thinner medicine Eliquis due to generic competition.
Meanwhile, Bristol Myers and partner 2seventy bio, Inc. TSVT announced results from the preplanned final progression-free survival analysis of the phase III KarMMa-3 study at the 65th American Society of Hematology Annual Meeting and Exposition.
The late-stage study is evaluating CAR T cell therapy Abecma (idecabtagene vicleucel) compared with standard combination regimens in adults with relapsed and refractory multiple myeloma (“RRMM”) after two to four prior lines of therapy, including an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 monoclonal antibody (triple-class exposed), who were refractory to their last regimen. At a median follow-up of more than 30 months, Abecma maintained a 51% reduction in risk of disease progression or death with a median progression-free survival of 13.8 months compared with 4.4 months for standard regimens.
Bristol Myers and 2seventy bio earlier faced a setback when the FDA informed the companies that the regulatory body would not be able to give a decision on the supplemental biologics license application (“sBLA”) for Abecma by the original target date of Dec 16, 2023.
The sBLA is seeking approval for Abecma for earlier lines of triple-class exposed RRMM based on results from the phase III KarMMa-3 study.
BMY currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
Avidity Biosciences, Inc. (RNA) : Free Stock Analysis Report
Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report
2seventy bio, Inc. (TSVT) : 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.
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Bristol Myers Squibb BMY has entered an exclusive license and collaboration agreement with Redmond-based clinical-stage biopharmaceutical company SystImmune to jointly develop and commercialize oncology candidate BL-B01D1 in the United States. SystImmune’s BL-B01D1, a potentially first-in-class EGFRxHER3 bispecific antibody-drug conjugate (“ADC”), is currently being evaluated in a global multi-center early-stage study for the safety and efficacy in individuals with metastatic or unresectable non-small cell lung cancer (NSCLC). Bristol Myers and 2seventy bio earlier faced a setback when the FDA informed the companies that the regulatory body would not be able to give a decision on the supplemental biologics license application (“sBLA”) for Abecma by the original target date of Dec 16, 2023.
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While SystImmune retains exclusive development and commercialization rights in Mainland China, Bristol Myers Squibb will receive a royalty on net sales. The late-stage study is evaluating CAR T cell therapy Abecma (idecabtagene vicleucel) compared with standard combination regimens in adults with relapsed and refractory multiple myeloma (“RRMM”) after two to four prior lines of therapy, including an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 monoclonal antibody (triple-class exposed), who were refractory to their last regimen. Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Avidity Biosciences, Inc. (RNA) : Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report 2seventy bio, Inc. (TSVT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Bristol Myers Squibb BMY has entered an exclusive license and collaboration agreement with Redmond-based clinical-stage biopharmaceutical company SystImmune to jointly develop and commercialize oncology candidate BL-B01D1 in the United States. In October 2023, Bristol Myers announced that it would acquire commercial-stage oncology company Mirati Therapeutics, Inc. MRTX for $58.00 per share in cash, amounting to a total equity value of $4.8 billion. Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Avidity Biosciences, Inc. (RNA) : Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report 2seventy bio, Inc. (TSVT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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SystImmune is entitled to get up to $500 million in contingent near-term payments and is also eligible to receive additional milestone payments of up to $7.1 billion upon the achievement of certain development, regulatory and sales performance milestones for a total potential consideration of up to $8.4 billion. The company announced an upfront cash payment of $60 million to Avidity. Want the latest recommendations from Zacks Investment Research?
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615b2de5-3593-40a9-9e6a-546c7fcb684d
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713039.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: Rayonier, Comerica and Simmons First National
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-rayonier-comerica-and-simmons-first-national
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Rayonier Inc. (Symbol: RYN), Comerica, Inc. (Symbol: CMA), and Simmons First National Corp (Symbol: SFNC) will all trade ex-dividend for their respective upcoming dividends. Rayonier Inc. will pay its quarterly dividend of $0.285 on 12/29/23, Comerica, Inc. will pay its quarterly dividend of $0.71 on 1/1/24, and Simmons First National Corp will pay its quarterly dividend of $0.20 on 1/2/24. As a percentage of RYN's recent stock price of $32.12, this dividend works out to approximately 0.89%, so look for shares of Rayonier Inc. to trade 0.89% lower — all else being equal — when RYN shares open for trading on 12/14/23. Similarly, investors should look for CMA to open 1.42% lower in price and for SFNC to open 1.13% lower, all else being equal.
Below are dividend history charts for RYN, CMA, and SFNC, showing historical dividends prior to the most recent ones declared.
Rayonier Inc. (Symbol: RYN):
Comerica, Inc. (Symbol: CMA):
Simmons First National Corp (Symbol: SFNC):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.55% for Rayonier Inc., 5.69% for Comerica, Inc., and 4.52% for Simmons First National Corp.
Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Rayonier Inc. shares are currently up about 2.2%, Comerica, Inc. shares are off about 0.2%, and Simmons First National Corp shares are down about 0.5% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Average Annual Return
IWY Videos
NTCT market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 3.55% for Rayonier Inc., 5.69% for Comerica, Inc., and 4.52% for Simmons First National Corp. Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, Rayonier Inc. shares are currently up about 2.2%, Comerica, Inc. shares are off about 0.2%, and Simmons First National Corp shares are down about 0.5% on the day. dividend stocks should be on your radar screen » Also see: Average Annual Return IWY Videos NTCT market cap history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Rayonier Inc. (Symbol: RYN), Comerica, Inc. (Symbol: CMA), and Simmons First National Corp (Symbol: SFNC) will all trade ex-dividend for their respective upcoming dividends. Rayonier Inc. will pay its quarterly dividend of $0.285 on 12/29/23, Comerica, Inc. will pay its quarterly dividend of $0.71 on 1/1/24, and Simmons First National Corp will pay its quarterly dividend of $0.20 on 1/2/24. Rayonier Inc. (Symbol: RYN): Comerica, Inc. (Symbol: CMA): Simmons First National Corp (Symbol: SFNC): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Rayonier Inc. (Symbol: RYN), Comerica, Inc. (Symbol: CMA), and Simmons First National Corp (Symbol: SFNC) will all trade ex-dividend for their respective upcoming dividends. Rayonier Inc. will pay its quarterly dividend of $0.285 on 12/29/23, Comerica, Inc. will pay its quarterly dividend of $0.71 on 1/1/24, and Simmons First National Corp will pay its quarterly dividend of $0.20 on 1/2/24. If they do continue, the current estimated yields on annualized basis would be 3.55% for Rayonier Inc., 5.69% for Comerica, Inc., and 4.52% for Simmons First National Corp. Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, Rayonier Inc. shares are currently up about 2.2%, Comerica, Inc. shares are off about 0.2%, and Simmons First National Corp shares are down about 0.5% on the day.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Rayonier Inc. (Symbol: RYN), Comerica, Inc. (Symbol: CMA), and Simmons First National Corp (Symbol: SFNC) will all trade ex-dividend for their respective upcoming dividends. As a percentage of RYN's recent stock price of $32.12, this dividend works out to approximately 0.89%, so look for shares of Rayonier Inc. to trade 0.89% lower — all else being equal — when RYN shares open for trading on 12/14/23. Rayonier Inc. (Symbol: RYN): Comerica, Inc. (Symbol: CMA): Simmons First National Corp (Symbol: SFNC): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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7a557a00-4a3f-482f-9e48-a1964b25b295
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713040.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: PotlatchDeltic, Iron Mountain and BCE
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-potlatchdeltic-iron-mountain-and-bce
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, PotlatchDeltic Corp (Symbol: PCH), Iron Mountain Inc (Symbol: IRM), and BCE Inc (Symbol: BCE) will all trade ex-dividend for their respective upcoming dividends. PotlatchDeltic Corp will pay its quarterly dividend of $0.45 on 12/29/23, Iron Mountain Inc will pay its quarterly dividend of $0.65 on 1/4/24, and BCE Inc will pay its quarterly dividend of $0.9675 on 1/15/24. As a percentage of PCH's recent stock price of $45.13, this dividend works out to approximately 1.00%, so look for shares of PotlatchDeltic Corp to trade 1.00% lower — all else being equal — when PCH shares open for trading on 12/14/23. Similarly, investors should look for IRM to open 0.99% lower in price and for BCE to open 2.40% lower, all else being equal.
Below are dividend history charts for PCH, IRM, and BCE, showing historical dividends prior to the most recent ones declared.
PotlatchDeltic Corp (Symbol: PCH):
Iron Mountain Inc (Symbol: IRM):
BCE Inc (Symbol: BCE):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.99% for PotlatchDeltic Corp, 3.95% for Iron Mountain Inc, and 9.58% for BCE Inc.
In Tuesday trading, PotlatchDeltic Corp shares are currently up about 0.3%, Iron Mountain Inc shares are up about 0.7%, and BCE Inc shares are off about 0.5% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Low Priced Dividend Stocks
CSAN Stock Predictions
SATS Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As a percentage of PCH's recent stock price of $45.13, this dividend works out to approximately 1.00%, so look for shares of PotlatchDeltic Corp to trade 1.00% lower — all else being equal — when PCH shares open for trading on 12/14/23. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 3.99% for PotlatchDeltic Corp, 3.95% for Iron Mountain Inc, and 9.58% for BCE Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, PotlatchDeltic Corp (Symbol: PCH), Iron Mountain Inc (Symbol: IRM), and BCE Inc (Symbol: BCE) will all trade ex-dividend for their respective upcoming dividends. PotlatchDeltic Corp will pay its quarterly dividend of $0.45 on 12/29/23, Iron Mountain Inc will pay its quarterly dividend of $0.65 on 1/4/24, and BCE Inc will pay its quarterly dividend of $0.9675 on 1/15/24. PotlatchDeltic Corp (Symbol: PCH): Iron Mountain Inc (Symbol: IRM): BCE Inc (Symbol: BCE): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, PotlatchDeltic Corp (Symbol: PCH), Iron Mountain Inc (Symbol: IRM), and BCE Inc (Symbol: BCE) will all trade ex-dividend for their respective upcoming dividends. PotlatchDeltic Corp will pay its quarterly dividend of $0.45 on 12/29/23, Iron Mountain Inc will pay its quarterly dividend of $0.65 on 1/4/24, and BCE Inc will pay its quarterly dividend of $0.9675 on 1/15/24. PotlatchDeltic Corp (Symbol: PCH): Iron Mountain Inc (Symbol: IRM): BCE Inc (Symbol: BCE): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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As a percentage of PCH's recent stock price of $45.13, this dividend works out to approximately 1.00%, so look for shares of PotlatchDeltic Corp to trade 1.00% lower — all else being equal — when PCH shares open for trading on 12/14/23. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.99% for PotlatchDeltic Corp, 3.95% for Iron Mountain Inc, and 9.58% for BCE Inc.
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b5bf5c9f-5c34-405c-861e-cc97e1721698
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713041.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: Crown Castle, Hanover Insurance Group and Stewart Information Services
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-crown-castle-hanover-insurance-group-and-stewart-information
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Crown Castle Inc (Symbol: CCI), Hanover Insurance Group Inc (Symbol: THG), and Stewart Information Services Corp (Symbol: STC) will all trade ex-dividend for their respective upcoming dividends. Crown Castle Inc will pay its quarterly dividend of $1.565 on 12/29/23, Hanover Insurance Group Inc will pay its quarterly dividend of $0.85 on 12/29/23, and Stewart Information Services Corp will pay its quarterly dividend of $0.475 on 12/29/23. As a percentage of CCI's recent stock price of $114.52, this dividend works out to approximately 1.37%, so look for shares of Crown Castle Inc to trade 1.37% lower — all else being equal — when CCI shares open for trading on 12/14/23. Similarly, investors should look for THG to open 0.66% lower in price and for STC to open 0.88% lower, all else being equal.
Below are dividend history charts for CCI, THG, and STC, showing historical dividends prior to the most recent ones declared.
Crown Castle Inc (Symbol: CCI):
Hanover Insurance Group Inc (Symbol: THG):
Stewart Information Services Corp (Symbol: STC):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 5.47% for Crown Castle Inc, 2.66% for Hanover Insurance Group Inc, and 3.52% for Stewart Information Services Corp.
In Tuesday trading, Crown Castle Inc shares are currently off about 1.3%, Hanover Insurance Group Inc shares are up about 0.8%, and Stewart Information Services Corp shares are up about 0.3% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
CBD Videos
LAW YTD Return
Cincinnati Financial DMA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 5.47% for Crown Castle Inc, 2.66% for Hanover Insurance Group Inc, and 3.52% for Stewart Information Services Corp. dividend stocks should be on your radar screen » Also see: CBD Videos LAW YTD Return Cincinnati Financial DMA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Crown Castle Inc (Symbol: CCI), Hanover Insurance Group Inc (Symbol: THG), and Stewart Information Services Corp (Symbol: STC) will all trade ex-dividend for their respective upcoming dividends. Crown Castle Inc will pay its quarterly dividend of $1.565 on 12/29/23, Hanover Insurance Group Inc will pay its quarterly dividend of $0.85 on 12/29/23, and Stewart Information Services Corp will pay its quarterly dividend of $0.475 on 12/29/23. Crown Castle Inc (Symbol: CCI): Hanover Insurance Group Inc (Symbol: THG): Stewart Information Services Corp (Symbol: STC): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Crown Castle Inc (Symbol: CCI), Hanover Insurance Group Inc (Symbol: THG), and Stewart Information Services Corp (Symbol: STC) will all trade ex-dividend for their respective upcoming dividends. Crown Castle Inc will pay its quarterly dividend of $1.565 on 12/29/23, Hanover Insurance Group Inc will pay its quarterly dividend of $0.85 on 12/29/23, and Stewart Information Services Corp will pay its quarterly dividend of $0.475 on 12/29/23. Crown Castle Inc (Symbol: CCI): Hanover Insurance Group Inc (Symbol: THG): Stewart Information Services Corp (Symbol: STC): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Crown Castle Inc (Symbol: CCI), Hanover Insurance Group Inc (Symbol: THG), and Stewart Information Services Corp (Symbol: STC) will all trade ex-dividend for their respective upcoming dividends. As a percentage of CCI's recent stock price of $114.52, this dividend works out to approximately 1.37%, so look for shares of Crown Castle Inc to trade 1.37% lower — all else being equal — when CCI shares open for trading on 12/14/23. If they do continue, the current estimated yields on annualized basis would be 5.47% for Crown Castle Inc, 2.66% for Hanover Insurance Group Inc, and 3.52% for Stewart Information Services Corp.
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5a39ea4c-7bc3-41f8-8a7c-d9bc0de05cf5
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713042.0
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2023-12-12 00:00:00 UTC
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Ex-Dividend Reminder: Chubb, Extra Space Storage and Community Bank System
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DCOMP
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https://www.nasdaq.com/articles/ex-dividend-reminder%3A-chubb-extra-space-storage-and-community-bank-system
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nan
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nan
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Chubb Ltd (Symbol: CB), Extra Space Storage Inc (Symbol: EXR), and Community Bank System Inc (Symbol: CBU) will all trade ex-dividend for their respective upcoming dividends. Chubb Ltd will pay its quarterly dividend of $0.86 on 1/5/24, Extra Space Storage Inc will pay its quarterly dividend of $1.62 on 12/29/23, and Community Bank System Inc will pay its quarterly dividend of $0.45 on 1/10/24. As a percentage of CB's recent stock price of $224.47, this dividend works out to approximately 0.38%, so look for shares of Chubb Ltd to trade 0.38% lower — all else being equal — when CB shares open for trading on 12/14/23. Similarly, investors should look for EXR to open 1.17% lower in price and for CBU to open 0.92% lower, all else being equal.
Below are dividend history charts for CB, EXR, and CBU, showing historical dividends prior to the most recent ones declared.
Chubb Ltd (Symbol: CB):
Extra Space Storage Inc (Symbol: EXR):
Community Bank System Inc (Symbol: CBU):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.53% for Chubb Ltd, 4.69% for Extra Space Storage Inc, and 3.70% for Community Bank System Inc.
Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Chubb Ltd shares are currently up about 0.7%, Extra Space Storage Inc shares are off about 0.4%, and Community Bank System Inc shares are off about 0.1% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Construction Dividend Stocks
Institutional Holders of NBEV
EVE market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 1.53% for Chubb Ltd, 4.69% for Extra Space Storage Inc, and 3.70% for Community Bank System Inc. Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, Chubb Ltd shares are currently up about 0.7%, Extra Space Storage Inc shares are off about 0.4%, and Community Bank System Inc shares are off about 0.1% on the day. dividend stocks should be on your radar screen » Also see: Construction Dividend Stocks Institutional Holders of NBEV EVE market cap history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Chubb Ltd (Symbol: CB), Extra Space Storage Inc (Symbol: EXR), and Community Bank System Inc (Symbol: CBU) will all trade ex-dividend for their respective upcoming dividends. Chubb Ltd will pay its quarterly dividend of $0.86 on 1/5/24, Extra Space Storage Inc will pay its quarterly dividend of $1.62 on 12/29/23, and Community Bank System Inc will pay its quarterly dividend of $0.45 on 1/10/24. Chubb Ltd (Symbol: CB): Extra Space Storage Inc (Symbol: EXR): Community Bank System Inc (Symbol: CBU): In general, dividends are not always predictable, following the ups and downs of company profits over time.
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Looking at the universe of stocks we cover at Dividend Channel, on 12/14/23, Chubb Ltd (Symbol: CB), Extra Space Storage Inc (Symbol: EXR), and Community Bank System Inc (Symbol: CBU) will all trade ex-dividend for their respective upcoming dividends. Chubb Ltd will pay its quarterly dividend of $0.86 on 1/5/24, Extra Space Storage Inc will pay its quarterly dividend of $1.62 on 12/29/23, and Community Bank System Inc will pay its quarterly dividend of $0.45 on 1/10/24. If they do continue, the current estimated yields on annualized basis would be 1.53% for Chubb Ltd, 4.69% for Extra Space Storage Inc, and 3.70% for Community Bank System Inc. Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, Chubb Ltd shares are currently up about 0.7%, Extra Space Storage Inc shares are off about 0.4%, and Community Bank System Inc shares are off about 0.1% on the day.
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As a percentage of CB's recent stock price of $224.47, this dividend works out to approximately 0.38%, so look for shares of Chubb Ltd to trade 0.38% lower — all else being equal — when CB shares open for trading on 12/14/23. Chubb Ltd (Symbol: CB): Extra Space Storage Inc (Symbol: EXR): Community Bank System Inc (Symbol: CBU): In general, dividends are not always predictable, following the ups and downs of company profits over time. If they do continue, the current estimated yields on annualized basis would be 1.53% for Chubb Ltd, 4.69% for Extra Space Storage Inc, and 3.70% for Community Bank System Inc. Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, Chubb Ltd shares are currently up about 0.7%, Extra Space Storage Inc shares are off about 0.4%, and Community Bank System Inc shares are off about 0.1% on the day.
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b5e6476f-196d-47d5-9cc5-c0ff685eedff
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713043.0
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2023-12-12 00:00:00 UTC
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Good Stocks To Buy Right Now? 2 Dividend Stocks To Know
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DCOMP
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https://www.nasdaq.com/articles/good-stocks-to-buy-right-now-2-dividend-stocks-to-know
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nan
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nan
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Dividends are a portion of a company’s earnings paid out to shareholders, typically regularly. They are one-way companies reward investors for holding their stock. Dividend stocks are shares in companies that regularly distribute dividends. These stocks are often from well-established, profitable companies with a history of stable earnings.
Investing in dividend stocks offers several advantages. They provide a steady income stream, which can be particularly appealing for long-term investors and those seeking income, like retirees. Dividend stocks are often less volatile than non-dividend-paying stocks. This can make them a safer investment during market downturns. However, there are also disadvantages. High dividend payouts can sometimes indicate a lack of opportunities for a company to reinvest in its growth. This could mean slower capital appreciation of the stock.
Moreover, tax implications of dividend income can vary depending on the investor’s tax situation. It’s essential to consider this when investing in dividend stocks. Also, investors should not overlook a company’s overall financial health just for attractive dividend yields. A well-rounded approach, considering both dividend yield and company fundamentals, is crucial. Considering this, here are two dividend stocks to watch in the stock market today.
Dividend Stocks To Invest In [Or Avoid] Now
Chevron Corporation (NYSE: CVX)
The Procter & Gamble Company (NYSE: PG)
Chevron Corporation (CVX Stock)
Leading off, Chevron Corporation (CVX) is one of the world’s leading integrated energy companies, engaged in every aspect of the oil and natural gas industry. Chevron’s operations range from exploration and production to refining, marketing, and transportation. The company is also involved in chemical manufacturing and power generation. Today, Chevron has an annual dividend yield of 4.21%.
In late October, Chevron announced its Q3 2023 financial results. Diving in, the company posted Q3 2023 earnings of $3.05 per share, with revenue of $54.08 billion. This was compared to analysts’ consensus estimates for the quarter which were an EPS of $3.68 and revenue estimates of $50.24 billion.
Over the last five trading days, shares of CVX stock have started to recover by 1.09%. Meanwhile, during Tuesday’s mid-morning trading session, Chevron stock is trading red on the day by 0.64% so far, trading at $143.47 a share.
[Read More] Best Stocks To Buy In December 2023? 3 Mag 7 Stocks To Watch
The Procter & Gamble Company (PG Stock)
Next, The Procter & Gamble Company (PG) is a multinational consumer goods corporation known for its wide range of personal care, hygiene, and household products. Procter & Gamble, commonly known as P&G, offers brands that have become household names across the globe. Currently, PG shareholders get an annual dividend yield of 2.59%.
Back in October, Procter & Gamble Co. reported its Q1 2024 financial results. In detail, the company reported Q1 2024 earnings of $1.83 per share, on revenue of $21.87 billion. This was versus Wall Street’s estimates for the quarter which were an EPS of $1.71 per share, with revenue estimates of $21.56 billion. Additionally, revenue increased by 6.11% compared to the same period, the previous year.
In the past five trading days, shares of PG stock are trading down modestly by 0.97%. Moreover, during Tuesday’s mid-morning trading session, Procter & Gamble stock is red on the day by 0.19% so far, trading at $145.56 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.
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Dividend Stocks To Invest In [Or Avoid] Now Chevron Corporation (NYSE: CVX) The Procter & Gamble Company (NYSE: PG) Chevron Corporation (CVX Stock) Leading off, Chevron Corporation (CVX) is one of the world’s leading integrated energy companies, engaged in every aspect of the oil and natural gas industry. 3 Mag 7 Stocks To Watch The Procter & Gamble Company (PG Stock) Next, The Procter & Gamble Company (PG) is a multinational consumer goods corporation known for its wide range of personal care, hygiene, and household products. If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel.
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Dividend Stocks To Invest In [Or Avoid] Now Chevron Corporation (NYSE: CVX) The Procter & Gamble Company (NYSE: PG) Chevron Corporation (CVX Stock) Leading off, Chevron Corporation (CVX) is one of the world’s leading integrated energy companies, engaged in every aspect of the oil and natural gas industry. Meanwhile, during Tuesday’s mid-morning trading session, Chevron stock is trading red on the day by 0.64% so far, trading at $143.47 a share. 3 Mag 7 Stocks To Watch The Procter & Gamble Company (PG Stock) Next, The Procter & Gamble Company (PG) is a multinational consumer goods corporation known for its wide range of personal care, hygiene, and household products.
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Dividend stocks are shares in companies that regularly distribute dividends. Dividend Stocks To Invest In [Or Avoid] Now Chevron Corporation (NYSE: CVX) The Procter & Gamble Company (NYSE: PG) Chevron Corporation (CVX Stock) Leading off, Chevron Corporation (CVX) is one of the world’s leading integrated energy companies, engaged in every aspect of the oil and natural gas industry. 3 Mag 7 Stocks To Watch The Procter & Gamble Company (PG Stock) Next, The Procter & Gamble Company (PG) is a multinational consumer goods corporation known for its wide range of personal care, hygiene, and household products.
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Also, investors should not overlook a company’s overall financial health just for attractive dividend yields. Considering this, here are two dividend stocks to watch in the stock market today. 3 Mag 7 Stocks To Watch The Procter & Gamble Company (PG Stock) Next, The Procter & Gamble Company (PG) is a multinational consumer goods corporation known for its wide range of personal care, hygiene, and household products.
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bf1df748-748c-478d-86f7-e345bc2a02c1
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713044.0
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2023-12-12 00:00:00 UTC
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XLK, ACN, CSCO, AMD: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/xlk-acn-csco-amd%3A-etf-inflow-alert
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Technology Select Sector SPDR Fund (Symbol: XLK) where we have detected an approximate $818.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 298,960,000 to 303,310,000). Among the largest underlying components of XLK, in trading today Accenture plc (Symbol: ACN) is trading flat, Cisco Systems Inc (Symbol: CSCO) is down about 0.3%, and Advanced Micro Devices Inc (Symbol: AMD) is up by about 1.2%. For a complete list of holdings, visit the XLK Holdings page » The chart below shows the one year price performance of XLK, versus its 200 day moving average:
Looking at the chart above, XLK's low point in its 52 week range is $120.81 per share, with $188.46 as the 52 week high point — that compares with a last trade of $188.28. 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:
Historical EPS
GSE Options Chain
Top Ten Hedge Funds Holding NVAC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Technology Select Sector SPDR Fund (Symbol: XLK) where we have detected an approximate $818.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 298,960,000 to 303,310,000). 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 had notable inflows » Also see: Historical EPS GSE Options Chain Top Ten Hedge Funds Holding NVAC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of XLK, in trading today Accenture plc (Symbol: ACN) is trading flat, Cisco Systems Inc (Symbol: CSCO) is down about 0.3%, and Advanced Micro Devices Inc (Symbol: AMD) is up by about 1.2%. For a complete list of holdings, visit the XLK Holdings page » The chart below shows the one year price performance of XLK, versus its 200 day moving average: Looking at the chart above, XLK's low point in its 52 week range is $120.81 per share, with $188.46 as the 52 week high point — that compares with a last trade of $188.28. 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''.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Technology Select Sector SPDR Fund (Symbol: XLK) where we have detected an approximate $818.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 298,960,000 to 303,310,000). For a complete list of holdings, visit the XLK Holdings page » The chart below shows the one year price performance of XLK, versus its 200 day moving average: Looking at the chart above, XLK's low point in its 52 week range is $120.81 per share, with $188.46 as the 52 week high point — that compares with a last trade of $188.28. 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.
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Technology Select Sector SPDR Fund (Symbol: XLK) where we have detected an approximate $818.8 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 298,960,000 to 303,310,000). For a complete list of holdings, visit the XLK Holdings page » The chart below shows the one year price performance of XLK, versus its 200 day moving average: Looking at the chart above, XLK's low point in its 52 week range is $120.81 per share, with $188.46 as the 52 week high point — that compares with a last trade of $188.28. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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175eae0a-7fbf-4759-a216-4358d3bd5a26
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713045.0
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2023-12-12 00:00:00 UTC
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H&E Equipment (HEES) Inks Deal to Acquire Precision Rentals
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DCOMP
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https://www.nasdaq.com/articles/he-equipment-hees-inks-deal-to-acquire-precision-rentals
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nan
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nan
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H&E Equipment Services HEES has entered into an agreement to acquire Phoenix, AZ-based Precision Rentals. The company continues to expand its branch network both organically as well as through acquisitions, with 17 branches already integrated in November. This current deal will add two branches on closing.
The deal is expected to close during the first quarter of 2024, following regulatory approvals and other customary closing conditions.
Since 2006, Precision Rentals has grown its equipment rental business and offers reliability, fleet diversity and exceptional customer service. Precision Rentals brings to HEES a mix of general rental assets with a total fleet size (as measured by original equipment cost) of approximately $70 million and an attractive average fleet age of 37 months.
The company’s branch operations in Phoenix, Aurora and Colorado are in cities with strong construction activity and solid potential, including several mega projects.
Branch expansion and fleet growth have been contributing to H&E Equipment's earnings performance in the past few quarters. The company’s adjusted EBITDA was a record $189.1 million in the third quarter of 2023, marking an increase of 36.2% year over year.
Average rental rates increased 4.9% compared with the third quarter of 2022 and 1.2% compared with the second quarter of 2023. In the nine months ended Sep 30, 2023, HEES’ rental rates increased 7.0% year over year.
The company's fleet investment in the first nine months of 2023 was a record $595.2 million. Its fleet size was higher than $2.7 billion as of Sep 30, 2023. It boasts the youngest fleet in the industry, with an average rental fleet age of 41.1 months as of Sep 30, 2023 (versus the industry’s 49.2 months).
To capitalize on the solid customer demand, HEES has raised its gross fleet investment target to a range of $650 million to $700 million for 2023, up from the previously stated range of $600 million to $650 million.
Price Performance
Shares of the company have gained 4.8% in the past year compared with the industry’s 11.4% growth.
Image Source: Zacks Investment Research
Zacks Rank and Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company CR, Applied Industrial Technologies AIT and A. O. Smith Corporation AOS.
CR currently sports a Zacks Rank #1 (Strong Buy) and AIT and AOS each carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Crane Company’s 2023 earnings per share is pegged at $4.18. The consensus estimate for 2023 earnings has remained unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 29.8%. Shares of CR have rallied 33.7% in a year.
Applied Industrial has an average trailing four-quarter earnings surprise of 15%. The Zacks Consensus Estimate for AIT’s 2023 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have moved up 4% in the past 60 days. The company’s shares have gained 27.2% in a year.
The Zacks Consensus Estimate for A. O. Smith’s 2023 earnings is pegged at $3.77 per share. The consensus estimate for 2023 earnings has moved 5% north in the past 60 days and suggests year-over-year growth of 20.1%. The company has a trailing four-quarter average earnings surprise of 14%. AOS shares have gained 29.4% in a year.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report
Crane Company (CR) : 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.
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H&E Equipment Services HEES has entered into an agreement to acquire Phoenix, AZ-based Precision Rentals. The company’s branch operations in Phoenix, Aurora and Colorado are in cities with strong construction activity and solid potential, including several mega projects. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Some better-ranked stocks from the Industrial Products sector are Crane Company CR, Applied Industrial Technologies AIT and A. O. Smith Corporation AOS. CR currently sports a Zacks Rank #1 (Strong Buy) and AIT and AOS each carry a Zacks Rank #2 (Buy). Click to get this free report A. O. Smith Corporation (AOS) : Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report Crane Company (CR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Precision Rentals brings to HEES a mix of general rental assets with a total fleet size (as measured by original equipment cost) of approximately $70 million and an attractive average fleet age of 37 months. Image Source: Zacks Investment Research Zacks Rank and Stocks to Consider The company currently carries a Zacks Rank #3 (Hold). Click to get this free report A. O. Smith Corporation (AOS) : Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report Crane Company (CR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the nine months ended Sep 30, 2023, HEES’ rental rates increased 7.0% year over year. Price Performance Shares of the company have gained 4.8% in the past year compared with the industry’s 11.4% growth. The Zacks Consensus Estimate for Crane Company’s 2023 earnings per share is pegged at $4.18.
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b201ea1a-0621-4c6c-bea0-9a56e73d4207
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713046.0
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2023-12-12 00:00:00 UTC
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Southwest Airlines (LUV) Sees Poor Tidings on Labor Front
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DCOMP
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https://www.nasdaq.com/articles/southwest-airlines-luv-sees-poor-tidings-on-labor-front
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nan
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Southwest Airlines LUV flight attendants turned down a tentative contract pertaining to pay hikes and better working conditions. The Dallas-based carrier’s flight attendants are represented by the Transport Workers Union Local 556. In the voting procedure, 64% of flight attendants voted against the proposed five-year deal.
The contract, which was voted down, had proposed a 20% pay raise beginning next month in addition to a 3% annual hike in 2025, 2026, 2027 and 2028, per a CNBC report. Had the deal materialized, it would have resulted in a 36% pay increase for flight attendants at the top of the scale (throughout the contract) and up to 90% for other seniorities. Apart from pay raises, the provisional agreement also had provisions pertaining to paid parental and maternity leave with insurance coverage.
It seems that the provisions failed to meet the expectations of the flight attendants, as reflected by the union’s statement, “This proposed contract is not going to heal the hurt.” Following the rejection, the union will restart negotiations with the company to arrive at a mutually acceptable deal.
With U.S. airlines grappling with labor shortage in the post-COVID-19 high-travel demand scenario, the bargaining power of various labor groups has naturally increased. As a result, we have seen many labor deals being negotiated in the industry in the post-Covid scenario. Southwest Airlines’ flight attendants, too, are probably hoping to reach a better deal that makes them eligible for higher pay than what was proposed.
Other notable U.S. airlines like American Airlines AAL and United Airlines UAL are also involved in talks with flight attendants to arrive at acceptable deals. Delta Air Lines’ DAL flight attendants are not unionized.
Reflecting the increased bargaining power of labor groups in the post-Covid era, pilots of AAL, UAL and DAL have secured lucrative pay raises lately. Southwest Airlines is yet to reach a deal with its pilots.
Each of the above-mentioned stocks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
Southwest Airlines Co. (LUV) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : 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.
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Southwest Airlines LUV flight attendants turned down a tentative contract pertaining to pay hikes and better working conditions. Southwest Airlines’ flight attendants, too, are probably hoping to reach a better deal that makes them eligible for higher pay than what was proposed. Reflecting the increased bargaining power of labor groups in the post-Covid era, pilots of AAL, UAL and DAL have secured lucrative pay raises lately.
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Other notable U.S. airlines like American Airlines AAL and United Airlines UAL are also involved in talks with flight attendants to arrive at acceptable deals. Reflecting the increased bargaining power of labor groups in the post-Covid era, pilots of AAL, UAL and DAL have secured lucrative pay raises lately. Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Southwest Airlines Co. (LUV) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It seems that the provisions failed to meet the expectations of the flight attendants, as reflected by the union’s statement, “This proposed contract is not going to heal the hurt.” Following the rejection, the union will restart negotiations with the company to arrive at a mutually acceptable deal. Other notable U.S. airlines like American Airlines AAL and United Airlines UAL are also involved in talks with flight attendants to arrive at acceptable deals. Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Southwest Airlines Co. (LUV) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Southwest Airlines LUV flight attendants turned down a tentative contract pertaining to pay hikes and better working conditions. It seems that the provisions failed to meet the expectations of the flight attendants, as reflected by the union’s statement, “This proposed contract is not going to heal the hurt.” Following the rejection, the union will restart negotiations with the company to arrive at a mutually acceptable deal. Want the latest recommendations from Zacks Investment Research?
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7c7f5fa8-868b-43a4-9b26-0a2e750349a3
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713047.0
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2023-12-12 00:00:00 UTC
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If You Invested $1,000 in Advanced Micro Devices in 2015, This Is How Much You Would Have Today
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DCOMP
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https://www.nasdaq.com/articles/if-you-invested-%241000-in-advanced-micro-devices-in-2015-this-is-how-much-you-would-have
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nan
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nan
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Chipmaker Advanced Micro Devices (NASDAQ: AMD) has flourished over the past eight years thanks to several industries blossoming, including gaming, data center and cloud, and personal computing.
Had you invested just $1,000 in AMD stock in December 2015, it would have grown to $58,960 today, a remarkable 59-fold return in under a decade.
The world relies on technology more than ever, but the competitive landscape is also different than it was just a few years ago. So what can investors expect next from AMD?
Data center growth should continue
The key to AMD's ascension was its successful breakthrough into the data center business. Years ago, AMD's focus on the gaming and personal computer markets limited it to playing a backseat role to Intel. In a November 2022 interview, AMD CEO Lisa Su described how she decided some six years or so ago that she wanted to shift the company's strategy to focus on high-computing data center applications.
That successful pivot to higher-end chips has reaped rewards for AMD. Its revenue has risen roughly five-fold over the past eight years.
AMD Revenue (TTM) data by YCharts.
How it extends its data center growth from here will be a crucial factor in AMD's investment returns. Rival Nvidia has won the early battle for market share in AI chips, but AMD is not sitting on its hands. The company recently unveiled its Instinct MI300X, a GPU chip designed for AI-purposed servers.
The chip's specifications are allegedly better than those of Nvidia's H100 chip, but the lead will likely shift back and forth as each vendor's new chips outshine the prior versions over the coming years. Importantly, AMD has made early progress with some key customers. Microsoft and Meta Platforms have agreed to use the MI300X.
Su believes the AI chip market could grow to over $400 billion within five years. And as was the case when it was vying with Intel years back, AMD doesn't have to dominate Nvidia. All it must do is carve out a solid piece of a massive market, and AMD could handsomely reward long-term investors.
Can AMD replicate its massive share price gains?
Those previous 59x returns pushed AMD's market cap above $200 billion, into the rarefied realm of the megacap stocks. Such a massive company can't be expected to expand at anywhere like that prior pace. However, it can still be a potential market-beating investment. Analysts believe AMD's earnings can grow at a compound annual rate of roughly 30%.
Its shares trade at a forward price-to-earnings ratio of 49, which isn't a crazy valuation given AMD's growth potential. Its price/earnings-to-growth ratio of 1.5 isn't a bargain, but the business can grow into it over the next few years if AMD hits these growth estimates.
AMD EPS LT Growth Estimates data by YCharts.
A Citi Bank estimate pegged AMD's long-term market share as high as 10% of that forecast $400 billion AI chip market. That would be $40 billion -- double the company's total sales over the past year. That's a wide-open opportunity for AMD to grow from here, and the stock's reasonable valuation means that a good chunk of that growth would be reflected by share price gains.
While AMD's period of delivering life-changing returns to long-term investors is probably behind it, the company could still help shareholders achieve some serious gains -- if it's up to the task of competing in the rapidly growing AI chip market.
Should you invest $1,000 in Advanced Micro Devices right now?
Before you buy stock in Advanced Micro Devices, 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 Advanced Micro Devices 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 7, 2023
Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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. Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends Intel and recommends the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, and short February 2024 $47 calls on Intel. 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.
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Chipmaker Advanced Micro Devices (NASDAQ: AMD) has flourished over the past eight years thanks to several industries blossoming, including gaming, data center and cloud, and personal computing. In a November 2022 interview, AMD CEO Lisa Su described how she decided some six years or so ago that she wanted to shift the company's strategy to focus on high-computing data center applications. While AMD's period of delivering life-changing returns to long-term investors is probably behind it, the company could still help shareholders achieve some serious gains -- if it's up to the task of competing in the rapidly growing AI chip market.
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Before you buy stock in Advanced Micro Devices, 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 Advanced Micro Devices wasn't one of them. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends Intel and recommends the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, and short February 2024 $47 calls on Intel.
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Chipmaker Advanced Micro Devices (NASDAQ: AMD) has flourished over the past eight years thanks to several industries blossoming, including gaming, data center and cloud, and personal computing. While AMD's period of delivering life-changing returns to long-term investors is probably behind it, the company could still help shareholders achieve some serious gains -- if it's up to the task of competing in the rapidly growing AI chip market. Before you buy stock in Advanced Micro Devices, 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 Advanced Micro Devices wasn't one of them.
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Su believes the AI chip market could grow to over $400 billion within five years. See the 10 stocks *Stock Advisor returns as of December 7, 2023 Citigroup is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, and Nvidia.
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7b4f0742-3e14-43e6-88fa-812fcb7c915f
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713048.0
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2023-12-12 00:00:00 UTC
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Why Sirius XM Holdings Stock Triumphed on Tuesday
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DCOMP
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https://www.nasdaq.com/articles/why-sirius-xm-holdings-stock-triumphed-on-tuesday
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nan
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nan
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For investors, it's usually quite a relief when one of their companies simplifies its ownership structure. That was the dynamic behind satellite radio broadcaster Sirius XM Holdings' (NASDAQ: SIRI) nearly 3% gain in stock price on Tuesday. That improvement was much better than the 0.5% gain of the S&P 500 index on the day.
The new Sirius will have a simplified ownership structure
Before market open, Sirius and its majority shareholder Liberty Media (NASDAQ: LSXMA)(NASDAQ: LSXMB)(NASDAQ: LSXMK) announced the move in a joint press release. The two have signed definitive agreements under which they will be combined into a new, publicly traded entity. This, in addition to the blended company's broadcasting operations, will be known as SiriusXM.
The new-look Sirius will have one outstanding series of common stock, which is expected to trade under the current entity's ticker symbol of SIRI. All told, there will be just under 3.4 billion shares outstanding of the future company. Sirius and Liberty Media said that the latter's investors will hold roughly 81% of the business.
The arrangement doesn't seem as if it'll affect the current Sirius' strategy. The two media companies quoted Sirius CEO Jennifer Witz as saying that
We have built a profitable business that is poised for continued success. With our strong foundation and as we roll out our next generation platform, we are transforming SiriusXM to drive long-term growth and stockholder value creation.
Taking it positively, at least for the moment
Liberty Media's ownership structures are notoriously complicated, so any simplification of Sirius' is more than welcome. That doesn't necessarily mean it'll transform into something ultrastraightforward, however, and it raises a question mark about whether Sirius will subsequently be inserted into its partner's numerous other ventures in some fashion. For now, though, Sirius investors are taking it as a positive development.
Should you invest $1,000 in Sirius XM right now?
Before you buy stock in Sirius XM, 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 Sirius XM 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
Eric Volkman 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.
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The new-look Sirius will have one outstanding series of common stock, which is expected to trade under the current entity's ticker symbol of SIRI. The two media companies quoted Sirius CEO Jennifer Witz as saying that We have built a profitable business that is poised for continued success. That doesn't necessarily mean it'll transform into something ultrastraightforward, however, and it raises a question mark about whether Sirius will subsequently be inserted into its partner's numerous other ventures in some fashion.
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That was the dynamic behind satellite radio broadcaster Sirius XM Holdings' (NASDAQ: SIRI) nearly 3% gain in stock price on Tuesday. Taking it positively, at least for the moment Liberty Media's ownership structures are notoriously complicated, so any simplification of Sirius' is more than welcome. Before you buy stock in Sirius XM, 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 Sirius XM wasn't one of them.
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The new Sirius will have a simplified ownership structure Before market open, Sirius and its majority shareholder Liberty Media (NASDAQ: LSXMA)(NASDAQ: LSXMB)(NASDAQ: LSXMK) announced the move in a joint press release. Before you buy stock in Sirius XM, 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 Sirius XM wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Eric Volkman has no position in any of the stocks mentioned.
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That was the dynamic behind satellite radio broadcaster Sirius XM Holdings' (NASDAQ: SIRI) nearly 3% gain in stock price on Tuesday. The new Sirius will have a simplified ownership structure Before market open, Sirius and its majority shareholder Liberty Media (NASDAQ: LSXMA)(NASDAQ: LSXMB)(NASDAQ: LSXMK) announced the move in a joint press release. Before you buy stock in Sirius XM, 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 Sirius XM wasn't one of them.
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13a35c07-1f4c-43fe-85a3-277fef13c627
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713049.0
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2023-12-12 00:00:00 UTC
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The 3 Most Undervalued Cryptos to Buy in December
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DCOMP
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https://www.nasdaq.com/articles/the-3-most-undervalued-cryptos-to-buy-in-december
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The recent uptrend in the crypto market is undoubtedly a great opportunity to take advantage of the potential of certain projects within the ecosystem. Among the wide variety of projects, these three undervalued cryptos have a great potential to take advantage of this month. If you do not want to miss the wave, these three cryptos to buy in December are a good option to analyze and consider adding to your portfolio.
VeChain (VET)
Source: Shutterstock
VeChain (VET-USD) is like the unsung hero of the cryptocurrency world, a versatile platform born in 2015 that revolves around smart contracts.
It started as a private blockchain helping large companies dive into blockchain and went public in 2018 as VET.
The magic happens on VechainThor, its public blockchain, with two key players — VET, the holder of value and champion of transfers and VTHO, the one covering the costs of the network. It’s like a power couple that ensures everything runs smoothly without breaking the bank.
VeChain has proven itself by driving efficiency and transparency, even working on projects that align with the U.N.’s sustainable goals, making it something of a hero in solving real-world problems.
In a recent twist, VeChain’s Professor Qi Ge partnered with a classic car restoration company at an auto show, placing the VeChain logo on iconic cars like the Mini Cooper S Rally and Shelby Cobra.
It’s not just an aesthetic makeover but a green makeover of these classics, and the whole process will be shown in a TV series in 2024. They are also preparing for a technology upgrade in 2024 with a new wallet called VeWorld, including features like a dApp browser, Coinbase (NASDAQ:COIN) gateway and NFT viewer.
When the transition to VeWorld begins on Dec. 31, the old VechainThor wallet will be in storage-only mode, ensuring that community assets remain secure. With these moves, VeChain looks like a cryptocurrency worth paying attention to, an undervalued gem in the world of digital currencies.
Hedera (HBAR)
Source: Shutterstock
Hedera (HBAR-USD), launched in 2019 through a fancy ICO, is not your typical blockchain. It’s faster, more efficient and has this cool native token called HBAR that does double duty by powering services and keeping the grid secure through staking.
What’s really exciting is its collaboration with Électricité de France, a large company in the electricity sector. They are working together to revolutionize renewable energy certificates (RECs), making it easier for citizens to demonstrate they care about using clean energy.
It’s all about transparency and efficiency in the renewable energy market.
In August 2023, Hedera went a step further by adopting JSON-RPC, a communication protocol for blockchain developers.
That move is like giving them a supercharged toolkit, making it very easy to build on Hedera and even play nice with the Ethereum Virtual Machine (EVM). It’s all about making life easier for developers.
So, if you’re thinking about diversifying your cryptocurrency portfolio, Hedera is the most modern, efficient and green option. It’s not just about the technology; it’s about making blockchain accessible and doing interesting things, like transforming the energy market and simplifying development for creative minds.
Stacks (STX)
Source: Ivan Babydov / Shutterstock
Stacks (STX-USD) is like a tech-savvy middleman for smart contracts, making it friends with Bitcoin (BTC-USD). It’s not just about making transactions; it’s about unlocking the $500 billion in Bitcoin capital for decentralized applications to play with.
Thanks to its Clarity language and Proof of Transfer magic, Stacks is basically the go-to guy who can read everything that’s going on in the Bitcoin world whenever you need him to.
What’s cool is that every move Stacks makes is automatically recorded and sits on the Bitcoin mainstage, secured by the strong arm of 100% Bitcoin hashpower.
It’s as if Stacks is hosting a party, and Bitcoin is the doorman making sure everything is in order. For developers dreaming of a booming decentralized financial world (DeFi) in Bitcoin, Stacks is the toolbox full of reliable oracles, bridges connecting different chains and solutions for liquidity.
In the latest scoop, Stacks developers now have a new tool, Pyth price feeds. These feeds bring real-time prices for more than 300 different financial products and digital assets.
It’s not just about numbers; it’s about making DeFi applications in Stacks even more elegant, with better order books and loan and borrowing setups. Teams like ALEX, Arkadiko, Hermetica and Zest are already enhancing their applications with these fonts, and everyone is eager to see how they develop.
They’re not sitting idly by; they’re working to speed things up, ensuring rock-solid reliability with a 100% Bitcoin guarantee, and even introducing a 1:1 Bitcoin-backed asset that can dance seamlessly between the different layers of Stacks.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.
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The post The 3 Most Undervalued Cryptos to Buy in December appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They are also preparing for a technology upgrade in 2024 with a new wallet called VeWorld, including features like a dApp browser, Coinbase (NASDAQ:COIN) gateway and NFT viewer. For developers dreaming of a booming decentralized financial world (DeFi) in Bitcoin, Stacks is the toolbox full of reliable oracles, bridges connecting different chains and solutions for liquidity. They’re not sitting idly by; they’re working to speed things up, ensuring rock-solid reliability with a 100% Bitcoin guarantee, and even introducing a 1:1 Bitcoin-backed asset that can dance seamlessly between the different layers of Stacks.
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VeChain (VET) Source: Shutterstock VeChain (VET-USD) is like the unsung hero of the cryptocurrency world, a versatile platform born in 2015 that revolves around smart contracts. Hedera (HBAR) Source: Shutterstock Hedera (HBAR-USD), launched in 2019 through a fancy ICO, is not your typical blockchain. For developers dreaming of a booming decentralized financial world (DeFi) in Bitcoin, Stacks is the toolbox full of reliable oracles, bridges connecting different chains and solutions for liquidity.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips The recent uptrend in the crypto market is undoubtedly a great opportunity to take advantage of the potential of certain projects within the ecosystem. Stacks (STX) Source: Ivan Babydov / Shutterstock Stacks (STX-USD) is like a tech-savvy middleman for smart contracts, making it friends with Bitcoin (BTC-USD). What’s cool is that every move Stacks makes is automatically recorded and sits on the Bitcoin mainstage, secured by the strong arm of 100% Bitcoin hashpower.
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VeChain (VET) Source: Shutterstock VeChain (VET-USD) is like the unsung hero of the cryptocurrency world, a versatile platform born in 2015 that revolves around smart contracts. It’s all about transparency and efficiency in the renewable energy market. It’s not just about making transactions; it’s about unlocking the $500 billion in Bitcoin capital for decentralized applications to play with.
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087362ca-ef9d-4eab-b622-24f22f70892a
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713050.0
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2023-12-12 00:00:00 UTC
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Caterpillar (CAT) Rises But Trails Market: What Investors Should Know
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DCOMP
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https://www.nasdaq.com/articles/caterpillar-cat-rises-but-trails-market%3A-what-investors-should-know
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In the latest trading session, Caterpillar (CAT) closed at $261.43, marking a +0.2% move from the previous day. This move lagged the S&P 500's daily gain of 0.46%. Meanwhile, the Dow experienced a rise of 0.48%, and the technology-dominated Nasdaq saw an increase of 0.7%.
The construction equipment company's stock has climbed by 7.97% in the past month, exceeding the Industrial Products sector's gain of 6.59% and the S&P 500's gain of 4.85%.
The upcoming earnings release of Caterpillar will be of great interest to investors. The company is expected to report EPS of $4.76, up 23.32% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.26 billion, up 3.97% from the prior-year quarter.
CAT's full-year Zacks Consensus Estimates are calling for earnings of $20.58 per share and revenue of $67.25 billion. These results would represent year-over-year changes of +48.7% and +13.16%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Caterpillar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.47% higher. Caterpillar is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Caterpillar is currently trading at a Forward P/E ratio of 12.68. This expresses a premium compared to the average Forward P/E of 9.25 of its industry.
It's also important to note that CAT currently trades at a PEG ratio of 1.06. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Manufacturing - Construction and Mining industry stood at 0.93 at the close of the market yesterday.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 230, finds itself in the bottom 9% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Caterpillar Inc. (CAT) : 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.
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To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The average PEG ratio for the Manufacturing - Construction and Mining industry stood at 0.93 at the close of the market yesterday. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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In the latest trading session, Caterpillar (CAT) closed at $261.43, marking a +0.2% move from the previous day. The average PEG ratio for the Manufacturing - Construction and Mining industry stood at 0.93 at the close of the market yesterday. Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The construction equipment company's stock has climbed by 7.97% in the past month, exceeding the Industrial Products sector's gain of 6.59% and the S&P 500's gain of 4.85%. This industry, currently bearing a Zacks Industry Rank of 230, finds itself in the bottom 9% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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Within the past 30 days, our consensus EPS projection has moved 0.47% higher. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Want the latest recommendations from Zacks Investment Research?
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e4cef7c0-cfce-46a2-a725-123946f841ac
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713051.0
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2023-12-12 00:00:00 UTC
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CANADA STOCKS-Toronto market skids as oil prices tumble
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https://www.nasdaq.com/articles/canada-stocks-toronto-market-skids-as-oil-prices-tumble
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By Fergal Smith and Nivedita Balu
Dec 12 (Reuters) - Canada's main stock index fell on Tuesday as a drop in oil prices weighed on energy shares and investors assessed the latest U.S. inflation data for clues on the Federal Reserve's policy outlook.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 84.52 points, or 0.4%, at 20,233.84, its lowest since Dec. 1.
"The obvious culprit is the energy group and that's on the back of significant decline in oil prices," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.
The energy sector was down 2.3% as the price of oil fell to a 5-1/2-month low, pressured by growing concerns of oversupply. U.S. crude futures CLc1 were down 3.6% at 68.7 a barrel.[O/R]
"We've had a strong run (for the TSX) since the beginning of November," Picardo said. "Hopes are still pinned on a soft landing in the U.S. Tomorrow's FOMC announcement will be crucial in setting the tone for the rest of the year."
The Fed is expected to leave its policy rate on hold on Wednesday and is seen holding off on any interest-rate cuts until at least May of next year, after a government report on Tuesday showed consumer prices unexpectedly edged back up in November.
The materials group, which includes precious and base metals miners and fertilizer companies, was also a drag, losing 1.9%.
Cogeco CommunicationsCCA.TO fell 6% after Rogers Communications RCIb.TO sold its stake in the company to Canada's second-largest pension fund Caisse de depot et placement du Quebec.
Stelco Holdings STLC.TO, Canada's biggest steelmaker, was a bright spot. Its shares gained 7.8% after J.P.Morgan upgraded the stock to "overweight" from "neutral".
Manulife Financial CorpMFC.TO shares added 1.6%, notching a 15-year high, as Canada's top insurer moved to further de-risk its long-term care business.
(Reporting by Fergal Smith and Nivedita Balu in Toronto and Shashwat Chauhan in Bengaluru; Editing by Ravi Prakash Kumar and Marguerita Choy)
((fergal.smith@thomsonreuters.com; +1 647 480 7446))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Fergal Smith and Nivedita Balu Dec 12 (Reuters) - Canada's main stock index fell on Tuesday as a drop in oil prices weighed on energy shares and investors assessed the latest U.S. inflation data for clues on the Federal Reserve's policy outlook. "The obvious culprit is the energy group and that's on the back of significant decline in oil prices," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth. Cogeco CommunicationsCCA.TO fell 6% after Rogers Communications RCIb.TO sold its stake in the company to Canada's second-largest pension fund Caisse de depot et placement du Quebec.
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By Fergal Smith and Nivedita Balu Dec 12 (Reuters) - Canada's main stock index fell on Tuesday as a drop in oil prices weighed on energy shares and investors assessed the latest U.S. inflation data for clues on the Federal Reserve's policy outlook. The energy sector was down 2.3% as the price of oil fell to a 5-1/2-month low, pressured by growing concerns of oversupply. (Reporting by Fergal Smith and Nivedita Balu in Toronto and Shashwat Chauhan in Bengaluru; Editing by Ravi Prakash Kumar and Marguerita Choy) ((fergal.smith@thomsonreuters.com; +1 647 480 7446)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Fergal Smith and Nivedita Balu Dec 12 (Reuters) - Canada's main stock index fell on Tuesday as a drop in oil prices weighed on energy shares and investors assessed the latest U.S. inflation data for clues on the Federal Reserve's policy outlook. "The obvious culprit is the energy group and that's on the back of significant decline in oil prices," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth. The Fed is expected to leave its policy rate on hold on Wednesday and is seen holding off on any interest-rate cuts until at least May of next year, after a government report on Tuesday showed consumer prices unexpectedly edged back up in November.
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By Fergal Smith and Nivedita Balu Dec 12 (Reuters) - Canada's main stock index fell on Tuesday as a drop in oil prices weighed on energy shares and investors assessed the latest U.S. inflation data for clues on the Federal Reserve's policy outlook. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 84.52 points, or 0.4%, at 20,233.84, its lowest since Dec. 1. The energy sector was down 2.3% as the price of oil fell to a 5-1/2-month low, pressured by growing concerns of oversupply.
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4510e7c3-44e2-4365-a87f-e310019ab15d
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713052.0
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2023-12-12 00:00:00 UTC
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Rambus (RMBS) Stock Declines While Market Improves: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/rambus-rmbs-stock-declines-while-market-improves%3A-some-information-for-investors
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The most recent trading session ended with Rambus (RMBS) standing at $67.38, reflecting a -1.29% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.46%. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.7%.
Prior to today's trading, shares of the memory chip designer had gained 9.02% over the past month. This has outpaced the Computer and Technology sector's gain of 4.16% and the S&P 500's gain of 4.85% in that time.
Investors will be eagerly watching for the performance of Rambus in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.45, marking a 4.26% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $134.01 million, showing a 13.71% drop compared to the year-ago quarter.
RMBS's full-year Zacks Consensus Estimates are calling for earnings of $1.76 per share and revenue of $556.63 million. These results would represent year-over-year changes of +0.57% and -2.64%, respectively.
Investors might also notice recent changes to analyst estimates for Rambus. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Rambus is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Rambus is at present trading with a Forward P/E ratio of 38.9. This valuation marks a premium compared to its industry's average Forward P/E of 27.4.
Investors should also note that RMBS has a PEG ratio of 2.77 right now. 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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 4.21.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Rambus, Inc. (RMBS) : 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.
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Prior to today's trading, shares of the memory chip designer had gained 9.02% over the past month. Simultaneously, our latest consensus estimate expects the revenue to be $134.01 million, showing a 13.71% drop compared to the year-ago quarter. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 4.21. Click to get this free report Rambus, Inc. (RMBS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups.
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This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Want the latest recommendations from Zacks Investment Research?
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6fbff96a-363a-481e-a082-5f2cf0a5092e
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713053.0
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2023-12-12 00:00:00 UTC
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Carnival (CCL) Outpaces Stock Market Gains: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/carnival-ccl-outpaces-stock-market-gains%3A-what-you-should-know-8
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Carnival (CCL) closed at $17.82 in the latest trading session, marking a +1.08% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.46% for the day. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.7%.
Shares of the cruise operator witnessed a gain of 37.95% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 6.68% and the S&P 500's gain of 4.85%.
The investment community will be paying close attention to the earnings performance of Carnival in its upcoming release. On that day, Carnival is projected to report earnings of -$0.14 per share, which would represent year-over-year growth of 83.53%. Simultaneously, our latest consensus estimate expects the revenue to be $5.31 billion, showing a 38.27% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Carnival. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.73% decrease. As of now, Carnival holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Carnival has a Forward P/E ratio of 19.39 right now. This indicates a discount in contrast to its industry's Forward P/E of 21.67.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Carnival Corporation (CCL) : 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.
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Simultaneously, our latest consensus estimate expects the revenue to be $5.31 billion, showing a 38.27% escalation compared to the year-ago quarter. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries. Want the latest recommendations from Zacks Investment Research? Click to get this free report Carnival Corporation (CCL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Click to get this free report Carnival Corporation (CCL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The investment community will be paying close attention to the earnings performance of Carnival in its upcoming release. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries. Want the latest recommendations from Zacks Investment Research?
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92d58c6c-4fbe-40a1-ad02-7f3a94a684ce
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713054.0
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2023-12-12 00:00:00 UTC
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Why Cosmos Hub and Other Altcoins Were Soaring Today
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DCOMP
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https://www.nasdaq.com/articles/why-cosmos-hub-and-other-altcoins-were-soaring-today
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Given their increasingly long-tail rally heading into the holiday season, cryptocurrencies probably didn't need another springboard bouncing them even higher. Yet on Tuesday, that's exactly what happened when the latest macroeconomic data hit the headlines.
In response, an impressive variety and number of coins and tokens leaped skyward in price. Cosmos Hub (CRYPTO: ATOM) was one of them, advancing by 19% in midafternoon trading. Joining the starry crypto was KuCoin (CRYPTO: KCS), which rose by roughly the same percentage; Aptos (CRYPTO: APT) with a 14% gain; and Fantom (CRYPTO: FTM) with a relatively light yet still solid boost of 7%.
Inflation melted a little more
The data that made crypto investors happy concerned that current global albatross, inflation. Early Tuesday, the government's Labor Department unveiled November figures for the U.S. Consumer Price Index (CPI), a closely tracked gauge of the costs of key goods (and therefore a yardstick for inflation). These data reveal that the CPI crept up by 3.1% year over year and 0.1% over the October level.
While this more or less met estimates from economists, it was seen by many as a sign that inflation continues to cool. After all, the October year-over-year increase was 3.2%. Although such a cooling doesn't mean inflation is fully tamed, it's a good sign that it continues to head in the right direction.
Inflation's trajectory matters to crypto investors for a number of reasons. Chiefly, if it's stagnant or falling, this -- theoretically, anyway -- reduces the Federal Reserve's eagerness to keep raising its key interest rates. In the best-case scenario, if inflation continues to fade, the Fed might even consider cutting said rates.
All things being equal, riskier investments like cryptos become more attractive as interest rates fall (since competing "safe" investments like bonds start to pay out less). Enough investors feel like we're heading into this scenario to drive up prices of the Cosmoses and KuCoins of this world.
Buyer beware -- especially now
This is one of those environments that could easily turn nervy. These cryptos all have their merits and boast convincing use cases; however, even some of their dodgy brethren are enjoying leaps in price as the market continues to pile in. One big piece of negative economic news could potentially start bringing the house down. It's happened before.
So I'd say now is the time for the crypto-curious to be careful; it pays to be selective and invest in only the best and most high-potential currencies in this always-offbeat group of investments. Even at the best of times, they are volatile assets.
Should you invest $1,000 in Cosmos right now?
Before you buy stock in Cosmos, 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 Cosmos wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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See the 10 stocks
*Stock Advisor returns as of December 11, 2023
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cosmos. 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.
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Early Tuesday, the government's Labor Department unveiled November figures for the U.S. Consumer Price Index (CPI), a closely tracked gauge of the costs of key goods (and therefore a yardstick for inflation). Chiefly, if it's stagnant or falling, this -- theoretically, anyway -- reduces the Federal Reserve's eagerness to keep raising its key interest rates. These cryptos all have their merits and boast convincing use cases; however, even some of their dodgy brethren are enjoying leaps in price as the market continues to pile in.
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Inflation melted a little more The data that made crypto investors happy concerned that current global albatross, inflation. Before you buy stock in Cosmos, 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 Cosmos wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Eric Volkman has no position in any of the stocks mentioned.
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Joining the starry crypto was KuCoin (CRYPTO: KCS), which rose by roughly the same percentage; Aptos (CRYPTO: APT) with a 14% gain; and Fantom (CRYPTO: FTM) with a relatively light yet still solid boost of 7%. Inflation melted a little more The data that made crypto investors happy concerned that current global albatross, inflation. Before you buy stock in Cosmos, 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 Cosmos wasn't one of them.
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Inflation's trajectory matters to crypto investors for a number of reasons. Should you invest $1,000 in Cosmos right now? Before you buy stock in Cosmos, 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 Cosmos wasn't one of them.
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713055.0
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2023-12-12 00:00:00 UTC
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3 Battery Stocks to Turn $10,000 Into $1 Million: December 2023
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DCOMP
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https://www.nasdaq.com/articles/3-battery-stocks-to-turn-%2410000-into-%241-million%3A-december-2023
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Battery stocks present somewhat overlooked opportunities amid the world’s transition to clean energy sources. While some of these companies are marquee brands, others don’t receive the attention they deserve, as battery stocks are part of a complex ecosystem that makes trends like the electrification of vehicles possible.
So in this article, we’ll detail three of the best battery stocks that investors should pay attention to. These companies have bright futures ahead of them due to their high margins and optimistic analyst ratings.
Here are the three stocks to consider.
Tesla (TSLA)
Source: Roschetzky Photography / Shutterstock.com
Tesla’s (NASDAQ:TSLA) advancements in battery technology could make it a strong contender in the battery market. Indeed, there have been some developments to suggest that this could be the case.
TSLA produces about 80 MWh worth of 4680 battery cells per week, which is enough to potentially power over 1,200 vehicles weekly. The 4680 battery cell is crucial for powering some of its newer models, such as its Cybertruck.
TSLA is one of those battery stocks to consider because it’s heavily bringing down its cost basis to produce these batteries. Some analysis predicts that it could halve its cost basis as production ramps up, due to the fixed costs of production being spread over more units.
At the same time, the company also released information that suggests that its batteries are also very robust at maintaining power levels, losing only about 12% of capacity after 200,000 miles on average.
Tesla is then one of those battery stocks leading the way in efficiency and longevity.
Contemporary Amperex Technology (CATL)
Source: Olivier Le Moal/ShutterStock.com
Contemporary Amperex Technology (OTCMKTS:CATL) is a Chinese company and one of the largest manufacturers of lithium-ion batteries for electric vehicles.
CATL, too, is making significant developments as a robust battery stock in the Asian market. Its strength comes from its Shenxing battery, which features fast charging capabilities. CATL’s batteries are made with lithium iron phosphate (LFP) and can reportedly drive 400 kilometers on a 10-minute charge and 700 kilometers on a full charge.
These batteries would give them a significant leg up over their peers due to providing quicker charging times and longer driving ranges. The company gave guidance that the batteries could become commercially available as soon as 2024.
While the battery production is poised to be conducted in China, CATL is investing over HK$1 billion (US$128 million) in a new headquarters and research and development center in Hong Kong. The R&D center will focus on developing patents that can be licensed to other companies. This is expected to accelerate its own efforts in developing market-leading batteries but could also open up new streams of revenues as well.
Panasonic (PCRFY)
Source: testing/Shutterstock.com
Panasonic (OTCMKTS:PCRFY) has long been a battery industry player, especially known for its collaboration with Tesla. But not to be overshadowed by its partnership with the automaker, Panasonic is making some serious moves in the market on its own accord.
Specifically, the company announced plans to significantly increase its annual production capacity for EV battery cells, aiming to reach 200 7GWh by March 2031. This would effectively quadruple its battery production. The growing EV market was cited as one tailwind, but Panasonic is also exploring other battery solutions, including cobalt-free options and cells with an energy density of 1,000 Wh/l.
With this development in mind, there’s good reason to suggest that Panasonic could be trading at undervalued levels. Its margins are robust, with an EBITDA margin of 9.32% on 58.10B of annual revenue.
If it maintains the same profitability level while boosting its top line, there could be a significant implied upside for its stock price as it trades at only 7.51 times earnings.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
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The post 3 Battery Stocks to Turn $10,000 Into $1 Million: December 2023 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While some of these companies are marquee brands, others don’t receive the attention they deserve, as battery stocks are part of a complex ecosystem that makes trends like the electrification of vehicles possible. While the battery production is poised to be conducted in China, CATL is investing over HK$1 billion (US$128 million) in a new headquarters and research and development center in Hong Kong. The growing EV market was cited as one tailwind, but Panasonic is also exploring other battery solutions, including cobalt-free options and cells with an energy density of 1,000 Wh/l.
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Contemporary Amperex Technology (CATL) Source: Olivier Le Moal/ShutterStock.com Contemporary Amperex Technology (OTCMKTS:CATL) is a Chinese company and one of the largest manufacturers of lithium-ion batteries for electric vehicles. Panasonic (PCRFY) Source: testing/Shutterstock.com Panasonic (OTCMKTS:PCRFY) has long been a battery industry player, especially known for its collaboration with Tesla. Specifically, the company announced plans to significantly increase its annual production capacity for EV battery cells, aiming to reach 200 7GWh by March 2031.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Battery stocks present somewhat overlooked opportunities amid the world’s transition to clean energy sources. Tesla (TSLA) Source: Roschetzky Photography / Shutterstock.com Tesla’s (NASDAQ:TSLA) advancements in battery technology could make it a strong contender in the battery market. TSLA is one of those battery stocks to consider because it’s heavily bringing down its cost basis to produce these batteries.
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Here are the three stocks to consider. Tesla (TSLA) Source: Roschetzky Photography / Shutterstock.com Tesla’s (NASDAQ:TSLA) advancements in battery technology could make it a strong contender in the battery market. CATL, too, is making significant developments as a robust battery stock in the Asian market.
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2023-12-12 00:00:00 UTC
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What's the Fed Going to Say About All This Bullishness?
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https://www.nasdaq.com/articles/whats-the-fed-going-to-say-about-all-this-bullishness
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Another strong performance on the major stock market indices again brings us to new 52-week highs on the Dow, S&P 500 and Nasdaq. Following a favorable Consumer Price Index (CPI) report before today’s opening bell and ahead of the Fed’s decision on interest rates tomorrow afternoon, the Dow gained another +173 points, +0.48%, the S&P +0.46%, and the Nasdaq won the session, +100 points or +0.70%. Only the small-cap Russell 2000 was down -0.1% on the day.
The slowly moderating CPI results demonstrate an economy on a trajectory toward a “soft landing” at some point in 2024, with the year-over-year Inflation Rate back down to +3.1% and core CPI year over year steady at +4.0%. Energy prices have come down -5.4% and used cars -3.8%; food was up less high than we’ve seen — +2.9% — and shelter was the only sticking point: +6.5%. We’re back down to August levels, with hopes we can see an Inflation Rate sub-3% sometime in the next few months.
Oil prices are continuing to slide currently, with spot WTI crude prices back below $70 per barrel today. We also see this in new 52-week lows for ExxonMobil XOM, as the U.S. continues to feed the global oil supplies as OPEC+ makes half-hearted attempts to slow the spigots. But the worst-performing stock on the S&P today was Oracle ORCL, -12% following its revenue miss and cloud-based lag on fiscal Q2 results yesterday afternoon.
Elsewhere, the sun is shining: JPMorgan JPM and Visa V are enjoying new 52-week highs, as are Boeing BA and IBM IBM, among others. The Airline industry is up, and so are Chipmakers. The Fed had promised us “higher for longer” interest rates, and it appears that — contrary to the doom and gloom many analysts predicted upon such a scenario — industries nearly across the board are living through it just fine.
If anything, this positivity — and its bullish sentiment in the markets for the past six weeks or so — may give Fed Chair Jerome Powell pause when he addresses his press conference following the FOMC announcement that the Fed funds rate will remain in the 5.25-5.50% range. For instance, part of this market ebullience is more firmly being based around the Fed making interest rate cuts no later than June of 2024. Powell might make quick work of this notion in a mere phrase or two. What becomes of these somewhat overbought indices then?
Ahead of tomorrow’s open, CPI sister report Producer Price Index (PPI) will be coming out. This has been the most inflation resistant of all major economic prints over the last several months; analysts will look to see if core PPI year over year will come in beneath last month’s +2.9%. Also, we’ll get Adobe ADBE earnings reported after tomorrow’s close. Will the party still be going on when those numbers hit?
Questions or comments about this article and/or author? Click here>>
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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 Boeing Company (BA) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Visa Inc. (V) : Free Stock Analysis Report
International Business Machines Corporation (IBM) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
Oracle Corporation (ORCL) : Free Stock Analysis Report
Adobe Inc. (ADBE) : 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.
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We also see this in new 52-week lows for ExxonMobil XOM, as the U.S. continues to feed the global oil supplies as OPEC+ makes half-hearted attempts to slow the spigots. But the worst-performing stock on the S&P today was Oracle ORCL, -12% following its revenue miss and cloud-based lag on fiscal Q2 results yesterday afternoon. The Fed had promised us “higher for longer” interest rates, and it appears that — contrary to the doom and gloom many analysts predicted upon such a scenario — industries nearly across the board are living through it just fine.
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Following a favorable Consumer Price Index (CPI) report before today’s opening bell and ahead of the Fed’s decision on interest rates tomorrow afternoon, the Dow gained another +173 points, +0.48%, the S&P +0.46%, and the Nasdaq won the session, +100 points or +0.70%. Ahead of tomorrow’s open, CPI sister report Producer Price Index (PPI) will be coming out. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Following a favorable Consumer Price Index (CPI) report before today’s opening bell and ahead of the Fed’s decision on interest rates tomorrow afternoon, the Dow gained another +173 points, +0.48%, the S&P +0.46%, and the Nasdaq won the session, +100 points or +0.70%. In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Following a favorable Consumer Price Index (CPI) report before today’s opening bell and ahead of the Fed’s decision on interest rates tomorrow afternoon, the Dow gained another +173 points, +0.48%, the S&P +0.46%, and the Nasdaq won the session, +100 points or +0.70%. Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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2023-12-12 00:00:00 UTC
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Time to Buy These Top-Rated Stocks with Dividend Yields over 5%
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https://www.nasdaq.com/articles/time-to-buy-these-top-rated-stocks-with-dividend-yields-over-5
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As we progress through December and round out what has been a magnificent year for the stock market there appears to be more opportunity ahead.
Notably, several top-rated Zacks stocks are standing out as they appear to be poised for more upside while offering dividend yields over 5% as well. Considering this scenario here is a look at three of these intriguing stocks that are shaping up to be nice income options in the portfolio.
The Williams Companies (WMB)
Among the Zacks Oils and Energy sector, The Williams Companies stock looks very compelling at the moment and boasts a Zacks Rank #1 (Strong Buy).
Only 7% from its 52-week highs of just over $37 a share seen earlier in the month, the recent pullback in Williams stock appears to be a buying opportunity. Although natural gas prices have remained lower in 2023, Williams is one of the largest domestic transporters of the commodity and a premier energy infrastructure provider in North America.
Over the last 60 days, annual earnings estimates for fiscal 2023 are now up 8% from $1.93 a share to $2.09 per share. Plus, FY24 EPS estimates are up 8% as well and Williams’ stock trades at a reasonable 16.6X forward earnings multiple which is slightly below its industry average and the S&P 500’s 21.6X. Add in a 5.13% annual dividend yield at the moment, and owning Williams’ stock makes a lot of sense right now as any rebound in natural gas prices would only brighten the picture.
Image Source: Zacks Investment Research
3M MMM
One multi-sector conglomerate that looks attractive right now is 3M which currently sports a Zacks Rank #2 (Buy). As a diversified technology company, 3M is a global manufacturer of electronics, industrial, home improvement, and transportation products along with health information systems and other medical solutions.
3M’s bottom line remains robust as annual earnings are projected to dip -10% this year but rebound and rise 9% in FY24 to $9.92 per share. Furthermore, 3M’s stock trades at 11.3X forward earnings with earnings estimates for FY23 and FY24 remaining higher over the last 60 days making its P/E valuation more attractive. The cherry on top is 3M’s 5.82% annual dividend yield with the company raising its payout for over 60 years classifying it as a dividend aristocrat (25 consecutive years) and a dividend king (50 consecutive years).
Image Source: Zacks Investment Research
Rio Tinto RIO
Out of the Basic Materials sector, Rio Tinto is an international mining company that investors will want to consider with its stock sporting a Zacks Rank #2 (Buy). Rio Tinto has diverse interests in mining for a multitude of commodities including aluminum, copper, and gold with operations in New Zealand, Australia, South Africa, Europe, and Canada.
With a 5.11% annual dividend yield Rio Tinto’s annual earnings are forecasted to dip -11% in FY23 but rebound and climb 15% in FY24 to $8.38 per share. More intriguing, FY23 earnings estimates have risen 4% in the last 30 days while FY24 EPS estimates have soared 18% with it being noteworthy that Rio Tinto’s stock trades at just 9.3X forward earnings.
Image Source: Zacks Investment Research
Bottom Line
Considering their lofty dividends and reasonable valuations, rising earnings estimates make The Williams Companies, 3M, and Rio Tinto’s stock very attractive. This combination is certainly reassuring to investors making now an ideal time to buy.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report
3M Company (MMM) : Free Stock Analysis Report
Rio Tinto PLC (RIO) : 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.
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Add in a 5.13% annual dividend yield at the moment, and owning Williams’ stock makes a lot of sense right now as any rebound in natural gas prices would only brighten the picture. Rio Tinto has diverse interests in mining for a multitude of commodities including aluminum, copper, and gold with operations in New Zealand, Australia, South Africa, Europe, and Canada. Image Source: Zacks Investment Research Bottom Line Considering their lofty dividends and reasonable valuations, rising earnings estimates make The Williams Companies, 3M, and Rio Tinto’s stock very attractive.
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The Williams Companies (WMB) Among the Zacks Oils and Energy sector, The Williams Companies stock looks very compelling at the moment and boasts a Zacks Rank #1 (Strong Buy). Image Source: Zacks Investment Research Bottom Line Considering their lofty dividends and reasonable valuations, rising earnings estimates make The Williams Companies, 3M, and Rio Tinto’s stock very attractive. Click to get this free report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Rio Tinto PLC (RIO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Williams Companies (WMB) Among the Zacks Oils and Energy sector, The Williams Companies stock looks very compelling at the moment and boasts a Zacks Rank #1 (Strong Buy). Image Source: Zacks Investment Research Bottom Line Considering their lofty dividends and reasonable valuations, rising earnings estimates make The Williams Companies, 3M, and Rio Tinto’s stock very attractive. Click to get this free report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Rio Tinto PLC (RIO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Williams Companies (WMB) Among the Zacks Oils and Energy sector, The Williams Companies stock looks very compelling at the moment and boasts a Zacks Rank #1 (Strong Buy). Rio Tinto RIO Out of the Basic Materials sector, Rio Tinto is an international mining company that investors will want to consider with its stock sporting a Zacks Rank #2 (Buy). Image Source: Zacks Investment Research Bottom Line Considering their lofty dividends and reasonable valuations, rising earnings estimates make The Williams Companies, 3M, and Rio Tinto’s stock very attractive.
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2023-12-12 00:00:00 UTC
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Snap (SNAP) Laps the Stock Market: Here's Why
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DCOMP
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https://www.nasdaq.com/articles/snap-snap-laps-the-stock-market%3A-heres-why
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Snap (SNAP) closed the latest trading day at $15.85, indicating a +0.63% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.46%. Meanwhile, the Dow experienced a rise of 0.48%, and the technology-dominated Nasdaq saw an increase of 0.7%.
Coming into today, shares of the company behind Snapchat had gained 39.38% in the past month. In that same time, the Computer and Technology sector gained 4.16%, while the S&P 500 gained 4.85%.
The investment community will be paying close attention to the earnings performance of Snap in its upcoming release. The company is forecasted to report an EPS of $0.05, showcasing a 64.29% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.36 billion, up 4.34% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.05 per share and a revenue of $4.6 billion, signifying shifts of -70.59% and -0.01%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Snap. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.55% higher. Snap is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Snap is at present trading with a Forward P/E ratio of 293.02. For comparison, its industry has an average Forward P/E of 37.51, which means Snap is trading at a premium to the group.
Investors should also note that SNAP has a PEG ratio of 21.23 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Software industry stood at 1.73 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 29, finds itself in the top 12% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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 Inc. (SNAP) : 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.
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For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.05 per share and a revenue of $4.6 billion, signifying shifts of -70.59% and -0.01%, respectively, from the last year. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Snap (SNAP) closed the latest trading day at $15.85, indicating a +0.63% change from the previous session's end. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Click to get this free report Snap Inc. (SNAP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry, currently bearing a Zacks Industry Rank of 29, finds itself in the top 12% echelons of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Click to get this free report Snap Inc. (SNAP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Snap (SNAP) closed the latest trading day at $15.85, indicating a +0.63% change from the previous session's end. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.55% higher. Zacks Investment Research has just released an urgent special report to help you bank on this trend.
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2023-12-12 00:00:00 UTC
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Freeport-McMoRan (FCX) Stock Falls Amid Market Uptick: What Investors Need to Know
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https://www.nasdaq.com/articles/freeport-mcmoran-fcx-stock-falls-amid-market-uptick%3A-what-investors-need-to-know
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The latest trading session saw Freeport-McMoRan (FCX) ending at $37.42, denoting a -1.19% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.46% for the day. At the same time, the Dow added 0.48%, and the tech-heavy Nasdaq gained 0.7%.
Heading into today, shares of the mining company had gained 13.28% over the past month, outpacing the Basic Materials sector's gain of 5.86% and the S&P 500's gain of 4.85% in that time.
Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is expected to report EPS of $0.32, down 38.46% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $5.82 billion, indicating a 1.16% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and a revenue of $22.85 billion, representing changes of -36.89% and +0.32%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Freeport-McMoRan. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.3% increase. At present, Freeport-McMoRan boasts a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 24.62. This denotes a premium relative to the industry's average Forward P/E of 17.12.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Freeport-McMoRan Inc. (FCX) : 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.
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Meanwhile, the latest consensus estimate predicts the revenue to be $5.82 billion, indicating a 1.16% increase compared to the same quarter of the previous year. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Heading into today, shares of the mining company had gained 13.28% over the past month, outpacing the Basic Materials sector's gain of 5.86% and the S&P 500's gain of 4.85% in that time. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. Click to get this free report Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Click to get this free report Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 250+ industries. Zacks Investment Research has just released an urgent special report to help you bank on this trend. Want the latest recommendations from Zacks Investment Research?
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9d4e325f-3625-4a6a-8e1e-8c60cd1287d6
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713060.0
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2023-12-12 00:00:00 UTC
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Ericsson (ERIC) Rises Higher Than Market: Key Facts
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DCOMP
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https://www.nasdaq.com/articles/ericsson-eric-rises-higher-than-market%3A-key-facts
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Ericsson (ERIC) closed the latest trading day at $5.72, indicating a +0.7% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.46% for the day. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.7%.
Shares of the telecommunications equipment provider have appreciated by 24.02% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.16% and the S&P 500's gain of 4.85%.
Investors will be eagerly watching for the performance of Ericsson in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.14, signifying a 30% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $7.04 billion, down 12.28% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.34 per share and a revenue of $24.95 billion, representing changes of -44.26% and -6.68%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ericsson. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.75% higher. Ericsson is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Ericsson is at present trading with a Forward P/E ratio of 16.83. This denotes a premium relative to the industry's average Forward P/E of 14.96.
It's also important to note that ERIC currently trades at a PEG ratio of 11.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry had an average PEG ratio of 1.29 as trading concluded yesterday.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Ericsson (ERIC) : 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.
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As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Shares of the telecommunications equipment provider have appreciated by 24.02% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.16% and the S&P 500's gain of 4.85%. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.34 per share and a revenue of $24.95 billion, representing changes of -44.26% and -6.68%, respectively, from the prior year. Click to get this free report Ericsson (ERIC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% echelons of all 250+ industries. Zacks Investment Research has just released an urgent special report to help you bank on this trend. Want the latest recommendations from Zacks Investment Research?
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1686237c-e9f3-4a10-9f13-855fd8389304
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713061.0
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2023-12-12 00:00:00 UTC
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United Parcel Service (UPS) Stock Dips While Market Gains: Key Facts
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DCOMP
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https://www.nasdaq.com/articles/united-parcel-service-ups-stock-dips-while-market-gains%3A-key-facts
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United Parcel Service (UPS) ended the recent trading session at $155.37, demonstrating a -0.26% swing from the preceding day's closing price. This change lagged the S&P 500's 0.46% gain on the day. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, added 0.7%.
Shares of the package delivery service witnessed a gain of 12.74% over the previous month, beating the performance of the Transportation sector with its gain of 8.66% and the S&P 500's gain of 4.85%.
The upcoming earnings release of United Parcel Service will be of great interest to investors. The company's earnings report is expected on January 30, 2024. The company is predicted to post an EPS of $2.47, indicating a 31.77% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $25.41 billion, indicating a 5.99% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.80 per share and a revenue of $91.45 billion, signifying shifts of -31.99% and -8.85%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for United Parcel Service. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.19% lower within the past month. Right now, United Parcel Service possesses a Zacks Rank of #3 (Hold).
In the context of valuation, United Parcel Service is at present trading with a Forward P/E ratio of 17.71. This denotes a premium relative to the industry's average Forward P/E of 16.32.
We can also see that UPS currently has a PEG ratio of 1.77. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.77.
The Transportation - Air Freight and Cargo industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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 Parcel Service, Inc. (UPS) : 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.
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United Parcel Service (UPS) ended the recent trading session at $155.37, demonstrating a -0.26% swing from the preceding day's closing price. In the meantime, our current consensus estimate forecasts the revenue to be $25.41 billion, indicating a 5.99% decline compared to the corresponding quarter of the prior year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.80 per share and a revenue of $91.45 billion, signifying shifts of -31.99% and -8.85%, respectively, from the last year.
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For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.80 per share and a revenue of $91.45 billion, signifying shifts of -31.99% and -8.85%, respectively, from the last year. As of the close of trade yesterday, the Transportation - Air Freight and Cargo industry held an average PEG ratio of 1.77. Click to get this free report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Click to get this free report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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United Parcel Service (UPS) ended the recent trading session at $155.37, demonstrating a -0.26% swing from the preceding day's closing price. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries. Want the latest recommendations from Zacks Investment Research?
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68fdf9c9-adec-4eb4-a0a7-df91ef398f4e
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713062.0
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2023-12-12 00:00:00 UTC
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Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/amgen-amgn-outpaces-stock-market-gains%3A-what-you-should-know-10
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In the latest trading session, Amgen (AMGN) closed at $273.99, marking a +0.68% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.46%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
Heading into today, shares of the world's largest biotech drugmaker had gained 2.04% over the past month, lagging the Medical sector's gain of 4.8% and the S&P 500's gain of 4.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.67, indicating a 14.18% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.07 billion, indicating a 18.01% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.62 per share and a revenue of $28.12 billion, demonstrating changes of +5.26% and +6.83%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Amgen is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Amgen is currently trading at a Forward P/E ratio of 14.61. This denotes a discount relative to the industry's average Forward P/E of 16.2.
Meanwhile, AMGN's PEG ratio is currently 2.6. 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. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Amgen Inc. (AMGN) : 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.
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Alongside, our most recent consensus estimate is anticipating revenue of $8.07 billion, indicating a 18.01% upward movement from the same quarter last year. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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For the full year, the Zacks Consensus Estimates project earnings of $18.62 per share and a revenue of $28.12 billion, demonstrating changes of +5.26% and +6.83%, respectively, from the preceding year. 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. Click to get this free report Amgen Inc. (AMGN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 24% echelons of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Click to get this free report Amgen Inc. (AMGN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential. This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 24% echelons of all 250+ industries. Want the latest recommendations from Zacks Investment Research?
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ac52ef3b-afac-463b-a351-6d99598312df
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713063.0
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2023-12-12 00:00:00 UTC
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Kimberly-Clark (KMB) Laps the Stock Market: Here's Why
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DCOMP
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https://www.nasdaq.com/articles/kimberly-clark-kmb-laps-the-stock-market%3A-heres-why
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Kimberly-Clark (KMB) closed the most recent trading day at $121.77, moving +0.66% from the previous trading session. This change outpaced the S&P 500's 0.46% gain on the day. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
The the stock of maker of consumer products such as Huggies diapers and Kleenex tissue has fallen by 0.21% in the past month, lagging the Consumer Staples sector's gain of 3.12% and the S&P 500's gain of 4.85%.
The investment community will be closely monitoring the performance of Kimberly-Clark in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.53, reflecting a 0.65% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.01 billion, up 0.84% from the prior-year quarter.
KMB's full-year Zacks Consensus Estimates are calling for earnings of $6.59 per share and revenue of $20.47 billion. These results would represent year-over-year changes of +17.05% and +1.45%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Kimberly-Clark. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Kimberly-Clark is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Kimberly-Clark is currently exchanging hands at a Forward P/E ratio of 18.36. This signifies no noticeable deviation in comparison to the average Forward P/E of 18.36 for its industry.
We can also see that KMB currently has a PEG ratio of 2.22. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Consumer Products - Staples industry had an average PEG ratio of 2.15 as trading concluded yesterday.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Kimberly-Clark Corporation (KMB) : 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.
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As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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KMB's full-year Zacks Consensus Estimates are calling for earnings of $6.59 per share and revenue of $20.47 billion. The Consumer Products - Staples industry had an average PEG ratio of 2.15 as trading concluded yesterday. Click to get this free report Kimberly-Clark Corporation (KMB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The the stock of maker of consumer products such as Huggies diapers and Kleenex tissue has fallen by 0.21% in the past month, lagging the Consumer Staples sector's gain of 3.12% and the S&P 500's gain of 4.85%. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Click to get this free report Kimberly-Clark Corporation (KMB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The investment community will be closely monitoring the performance of Kimberly-Clark in its forthcoming earnings report. This group has a Zacks Industry Rank of 170, putting it in the bottom 33% of all 250+ industries. Zacks Investment Research has just released an urgent special report to help you bank on this trend.
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8c89863d-7299-4969-8de5-4e958e3b6eff
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713064.0
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2023-12-12 00:00:00 UTC
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Moderna (MRNA), Merck Start 2nd Late-Study on Cancer Therapy
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DCOMP
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https://www.nasdaq.com/articles/moderna-mrna-merck-start-2nd-late-study-on-cancer-therapy
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Moderna MRNA and partner Merck MRK have initiated the pivotal phase III INTerpath-002 study evaluating their individualized neoantigen therapy (INT) candidate, V940 (mRNA-4157), in non-small cell lung cancer (NSCLC) indication.
The INTerpath-002 study is evaluating V940 combined with Merck’s blockbuster immuno-oncology drug Keytruda, compared with Keytruda alone, as an adjuvant treatment in adults with completely resected Stage II, IIIA or IIIB (with nodal involvement [N2]) NSCLC. The study has started global recruitment, having enrolled the first participants in Australia.
The primary endpoint of the late-stage study is disease-free survival (DFS). Secondary endpoints consist of overall survival (OS), distant metastasis-free survival (DMFS), lung cancer specific survival (LCSS), safety and quality of life.
The INTerpath-002 study is Moderna/Merck’s second clinical study in the INTerpath program evaluating V940 in multiple cancer indications. In July, Moderna/Merck initiated the phase III INTerpath-001 study evaluating V940 plus Keytruda in melanoma patients.
The initiations of both studies in the INTerpath program are based on data from the phase IIb KEYNOTE-942 study on the V940-Keytruda combination in melanoma indication, reported in first-half 2023. The study achieved its primary and key secondary endpoints, thereby demonstrating the meaningful benefit of combining V940 with Keytruda compared with Keytruda alone.
Over time, Moderna and Merck intend to expand V940 in other oncology indications.
Year to date, the stock has lost 54.4% compared with the industry’s 20.4% fall.
Image Source: Zacks Investment Research
Merck and Moderna entered a strategic partnership in 2016 to develop and commercialize mRNA-based therapeutics to treat various types of cancer. Last year, Merck exercised its option to develop V940 with Moderna. Per the terms of the collaboration, the companies will share costs and profits equally.
Unlike other therapies that are uniformly designed to treat all patients, INT aims to bring individualized treatment to cancer patients. V940 is tailored for each patient based on the unique mutational signature of a patient's tumor.
As opposed to traditional medications, mRNA-based therapies teach the body how to make a specific protein that can help your immune system prevent or treat certain diseases.The COVID-19 pandemic further demonstrated the significant potential of mRNA-based therapeutics. By way of COVID-19 vaccines, mRNA vaccines have generated immune responses against the virus at record-high levels compared with traditional protein-based and adeno-based vaccines.
Moderna, Inc. Price
Moderna, Inc. price | Moderna, Inc. Quote
Zacks Rank & Stocks to Consider
Moderna currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the overall healthcare sector include CytomX Therapeutics CTMX and Novo Nordisk NVO, 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, CytomX Therapeutics’ estimates for 2023 have improved from a loss of 37 cents per share to earnings of 2 cents. During the same period, loss estimates per share for 2024 have narrowed from 51 cents to 6 cents. Shares of CytomX have lost 13.1% in the year-to-date period.
CytomX Therapeutics’ 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 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.62. During the same period, the earnings estimates for 2024 have risen from $2.95 to $3.14. Shares of NVO have surged 42.8% 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 earnings surprise of 0.58%. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 5.80%.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Merck & Co., Inc. (MRK) : Free Stock Analysis Report
Moderna, Inc. (MRNA) : Free Stock Analysis Report
CytomX Therapeutics, Inc. (CTMX) : 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.
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Moderna MRNA and partner Merck MRK have initiated the pivotal phase III INTerpath-002 study evaluating their individualized neoantigen therapy (INT) candidate, V940 (mRNA-4157), in non-small cell lung cancer (NSCLC) indication. Image Source: Zacks Investment Research Merck and Moderna entered a strategic partnership in 2016 to develop and commercialize mRNA-based therapeutics to treat various types of cancer. A couple of better-ranked stocks in the overall healthcare sector include CytomX Therapeutics CTMX and Novo Nordisk NVO, each sporting a Zacks Rank #1 (Strong Buy).
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Moderna MRNA and partner Merck MRK have initiated the pivotal phase III INTerpath-002 study evaluating their individualized neoantigen therapy (INT) candidate, V940 (mRNA-4157), in non-small cell lung cancer (NSCLC) indication. Moderna, Inc. Price Moderna, Inc. price | Moderna, Inc. Quote Zacks Rank & Stocks to Consider Moderna currently carries a Zacks Rank #3 (Hold). Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Moderna MRNA and partner Merck MRK have initiated the pivotal phase III INTerpath-002 study evaluating their individualized neoantigen therapy (INT) candidate, V940 (mRNA-4157), in non-small cell lung cancer (NSCLC) indication. Moderna, Inc. Price Moderna, Inc. price | Moderna, Inc. Quote Zacks Rank & Stocks to Consider Moderna currently carries a Zacks Rank #3 (Hold). Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Moderna MRNA and partner Merck MRK have initiated the pivotal phase III INTerpath-002 study evaluating their individualized neoantigen therapy (INT) candidate, V940 (mRNA-4157), in non-small cell lung cancer (NSCLC) indication. In July, Moderna/Merck initiated the phase III INTerpath-001 study evaluating V940 plus Keytruda in melanoma patients. Image Source: Zacks Investment Research Merck and Moderna entered a strategic partnership in 2016 to develop and commercialize mRNA-based therapeutics to treat various types of cancer.
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68283afd-9457-4071-8155-0878a0caed38
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713065.0
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2023-12-12 00:00:00 UTC
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Here's Why Procter & Gamble (PG) Gained But Lagged the Market Today
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DCOMP
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https://www.nasdaq.com/articles/heres-why-procter-gamble-pg-gained-but-lagged-the-market-today
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nan
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nan
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The most recent trading session ended with Procter & Gamble (PG) standing at $145.94, reflecting a +0.08% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.46% for the day. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, added 0.7%.
Heading into today, shares of the world's largest consumer products maker had lost 4.36% over the past month, lagging the Consumer Staples sector's gain of 3.12% and the S&P 500's gain of 4.85% in that time.
The investment community will be closely monitoring the performance of Procter & Gamble in its forthcoming earnings report. The company's upcoming EPS is projected at $1.71, signifying a 7.55% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $21.81 billion, up 4.97% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.42 per share and revenue of $85.27 billion. These totals would mark changes of +8.81% and +3.98%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Procter & Gamble. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.07% rise in the Zacks Consensus EPS estimate. Procter & Gamble is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Procter & Gamble has a Forward P/E ratio of 22.7 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 22.7.
It is also worth noting that PG currently has a PEG ratio of 3.02. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Soap and Cleaning Materials industry stood at 3.18 at the close of the market yesterday.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 25, this industry ranks in the top 10% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Procter & Gamble Company (The) (PG) : 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.
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.42 per share and revenue of $85.27 billion. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.42 per share and revenue of $85.27 billion. The average PEG ratio for the Soap and Cleaning Materials industry stood at 3.18 at the close of the market yesterday. Click to get this free report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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With its current Zacks Industry Rank of 25, this industry ranks in the top 10% of all industries, numbering over 250. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Click to get this free report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Heading into today, shares of the world's largest consumer products maker had lost 4.36% over the past month, lagging the Consumer Staples sector's gain of 3.12% and the S&P 500's gain of 4.85% in that time. The investment community will be closely monitoring the performance of Procter & Gamble in its forthcoming earnings report. With its current Zacks Industry Rank of 25, this industry ranks in the top 10% of all industries, numbering over 250.
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1fe3fe52-a1ca-42c1-9085-2eabd7bba4c0
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713066.0
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2023-12-12 00:00:00 UTC
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IBM (IBM) Exceeds Market Returns: Some Facts to Consider
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DCOMP
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https://www.nasdaq.com/articles/ibm-ibm-exceeds-market-returns%3A-some-facts-to-consider-0
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nan
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nan
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The most recent trading session ended with IBM (IBM) standing at $164.71, reflecting a +0.73% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.46%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.7%.
The technology and consulting company's stock has climbed by 10.4% in the past month, exceeding the Computer and Technology sector's gain of 4.16% and the S&P 500's gain of 4.85%.
Analysts and investors alike will be keeping a close eye on the performance of IBM in its upcoming earnings disclosure. The company is predicted to post an EPS of $3.73, indicating a 3.61% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $17.06 billion, up 2.21% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.45 per share and revenue of $61.54 billion, indicating changes of +3.5% and +1.67%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for IBM. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. At present, IBM boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, IBM is currently exchanging hands at a Forward P/E ratio of 17.3. This valuation marks a premium compared to its industry's average Forward P/E of 16.75.
One should further note that IBM currently holds a PEG ratio of 4.45. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 2.64 based on yesterday's closing prices.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
International Business Machines Corporation (IBM) : 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.
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To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 2.64 based on yesterday's closing prices. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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The most recent trading session ended with IBM (IBM) standing at $164.71, reflecting a +0.73% shift from the previouse trading day's closing. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Computer - Integrated Systems stocks are, on average, holding a PEG ratio of 2.64 based on yesterday's closing prices.
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The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups.
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The most recent trading session ended with IBM (IBM) standing at $164.71, reflecting a +0.73% shift from the previouse trading day's closing. Investors should also note any recent changes to analyst estimates for IBM. Want the latest recommendations from Zacks Investment Research?
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8fba8c85-e0d1-40ee-98f0-251c9bf6b9dc
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713067.0
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2023-12-12 00:00:00 UTC
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Noteworthy Tuesday Option Activity: REVG, CYTK, PRGO
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-revg-cytk-prgo
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in REV Group Inc (Symbol: REVG), where a total of 962 contracts have traded so far, representing approximately 96,200 underlying shares. That amounts to about 69.7% of REVG's average daily trading volume over the past month of 137,970 shares. Particularly high volume was seen for the $15 strike put option expiring December 15, 2023, with 460 contracts trading so far today, representing approximately 46,000 underlying shares of REVG. Below is a chart showing REVG's trailing twelve month trading history, with the $15 strike highlighted in orange:
Cytokinetics Inc (Symbol: CYTK) options are showing a volume of 10,096 contracts thus far today. That number of contracts represents approximately 1.0 million underlying shares, working out to a sizeable 67.4% of CYTK's average daily trading volume over the past month, of 1.5 million shares. Especially high volume was seen for the $60 strike call option expiring January 19, 2024, with 2,021 contracts trading so far today, representing approximately 202,100 underlying shares of CYTK. Below is a chart showing CYTK's trailing twelve month trading history, with the $60 strike highlighted in orange:
And Perrigo Company plc (Symbol: PRGO) options are showing a volume of 11,638 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 62.6% of PRGO's average daily trading volume over the past month, of 1.9 million shares. Especially high volume was seen for the $35 strike call option expiring May 17, 2024, with 10,149 contracts trading so far today, representing approximately 1.0 million underlying shares of PRGO. Below is a chart showing PRGO's trailing twelve month trading history, with the $35 strike highlighted in orange:
For the various different available expirations for REVG options, CYTK options, or PRGO options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Dividend Stock Screener
GRWG Videos
Institutional Holders of LUXX
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $15 strike put option expiring December 15, 2023, with 460 contracts trading so far today, representing approximately 46,000 underlying shares of REVG. Especially high volume was seen for the $60 strike call option expiring January 19, 2024, with 2,021 contracts trading so far today, representing approximately 202,100 underlying shares of CYTK. Especially high volume was seen for the $35 strike call option expiring May 17, 2024, with 10,149 contracts trading so far today, representing approximately 1.0 million underlying shares of PRGO.
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Below is a chart showing REVG's trailing twelve month trading history, with the $15 strike highlighted in orange: Cytokinetics Inc (Symbol: CYTK) options are showing a volume of 10,096 contracts thus far today. That number of contracts represents approximately 1.0 million underlying shares, working out to a sizeable 67.4% of CYTK's average daily trading volume over the past month, of 1.5 million shares. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 62.6% of PRGO's average daily trading volume over the past month, of 1.9 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in REV Group Inc (Symbol: REVG), where a total of 962 contracts have traded so far, representing approximately 96,200 underlying shares. That number of contracts represents approximately 1.0 million underlying shares, working out to a sizeable 67.4% of CYTK's average daily trading volume over the past month, of 1.5 million shares. Especially high volume was seen for the $35 strike call option expiring May 17, 2024, with 10,149 contracts trading so far today, representing approximately 1.0 million underlying shares of PRGO.
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Particularly high volume was seen for the $15 strike put option expiring December 15, 2023, with 460 contracts trading so far today, representing approximately 46,000 underlying shares of REVG. Especially high volume was seen for the $35 strike call option expiring May 17, 2024, with 10,149 contracts trading so far today, representing approximately 1.0 million underlying shares of PRGO. Below is a chart showing PRGO's trailing twelve month trading history, with the $35 strike highlighted in orange: For the various different available expirations for REVG options, CYTK options, or PRGO options, visit StockOptionsChannel.com.
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bfc777df-66dc-4412-a110-6372307c55a0
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713068.0
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2023-12-12 00:00:00 UTC
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Pfizer (PFE) Stock Sinks As Market Gains: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/pfizer-pfe-stock-sinks-as-market-gains%3A-what-you-should-know-14
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nan
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nan
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The latest trading session saw Pfizer (PFE) ending at $28.58, denoting a -0.21% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.46%. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.7%.
The drugmaker's stock has dropped by 1.17% in the past month, falling short of the Medical sector's gain of 4.8% and the S&P 500's gain of 4.85%.
The investment community will be paying close attention to the earnings performance of Pfizer in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.16, reflecting a 114.04% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.58 billion, down 39.98% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.54 per share and revenue of $58.83 billion, indicating changes of -76.6% and -41.37%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Pfizer. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1% decrease. Pfizer is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Pfizer is currently trading at a Forward P/E ratio of 18.56. This signifies a premium in comparison to the average Forward P/E of 15.47 for its industry.
Also, we should mention that PFE has a PEG ratio of 1.86. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Large Cap Pharmaceuticals was holding an average PEG ratio of 2.13 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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
Pfizer Inc. (PFE) : 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.
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The latest trading session saw Pfizer (PFE) ending at $28.58, denoting a -0.21% adjustment from its last day's close. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.54 per share and revenue of $58.83 billion, indicating changes of -76.6% and -41.37%, respectively, compared to the previous year. The Large Cap Pharmaceuticals was holding an average PEG ratio of 2.13 at yesterday's closing price. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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The latest trading session saw Pfizer (PFE) ending at $28.58, denoting a -0.21% adjustment from its last day's close. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250. Want the latest recommendations from Zacks Investment Research?
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3452ef70-80eb-4316-bb57-3c4886246454
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713069.0
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2023-12-12 00:00:00 UTC
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Health Care Sector Update for 12/12/2023: CCCC, TARO, ICVX, ADTX, MRK
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DCOMP
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https://www.nasdaq.com/articles/health-care-sector-update-for-12-12-2023%3A-cccc-taro-icvx-adtx-mrk
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nan
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nan
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Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) climbing 0.5%.
The iShares Biotechnology ETF (IBB) gained 1.2%.
In corporate news, C4 Therapeutics (CCCC) shares more than doubled after the company announced a license and research collaboration agreement with Merck (MRK) to develop degrader-antibody conjugates. Merck was fractionally higher.
Aditxt (ADTX) shares soared 67% after it agreed to acquire Evofem, which owns the hormone-free contraceptive gel Phexxi, in a deal valued at about $100 million.
Icosavax (ICVX) surged 50% after AstraZeneca (AZN) agreed to buy the company for up to $1.1 billion.
Taro Pharmaceutical Industries (TARO) shares jumped 8.7% after it said in a regulatory filing Monday that a special committee of its board has agreed in principle with a revised proposal by controlling shareholder Sun Pharmaceutical Industries to buy the remaining shares of Taro it doesn't already own.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In corporate news, C4 Therapeutics (CCCC) shares more than doubled after the company announced a license and research collaboration agreement with Merck (MRK) to develop degrader-antibody conjugates. Aditxt (ADTX) shares soared 67% after it agreed to acquire Evofem, which owns the hormone-free contraceptive gel Phexxi, in a deal valued at about $100 million. Icosavax (ICVX) surged 50% after AstraZeneca (AZN) agreed to buy the company for up to $1.1 billion.
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Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) climbing 0.5%. Icosavax (ICVX) surged 50% after AstraZeneca (AZN) agreed to buy the company for up to $1.1 billion. Taro Pharmaceutical Industries (TARO) shares jumped 8.7% after it said in a regulatory filing Monday that a special committee of its board has agreed in principle with a revised proposal by controlling shareholder Sun Pharmaceutical Industries to buy the remaining shares of Taro it doesn't already own.
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Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) climbing 0.5%. In corporate news, C4 Therapeutics (CCCC) shares more than doubled after the company announced a license and research collaboration agreement with Merck (MRK) to develop degrader-antibody conjugates. Taro Pharmaceutical Industries (TARO) shares jumped 8.7% after it said in a regulatory filing Monday that a special committee of its board has agreed in principle with a revised proposal by controlling shareholder Sun Pharmaceutical Industries to buy the remaining shares of Taro it doesn't already own.
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Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the Health Care Select Sector SPDR Fund (XLV) climbing 0.5%. The iShares Biotechnology ETF (IBB) gained 1.2%. In corporate news, C4 Therapeutics (CCCC) shares more than doubled after the company announced a license and research collaboration agreement with Merck (MRK) to develop degrader-antibody conjugates.
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7f60202a-9f9b-4f8c-b594-8a2e880c36f7
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713070.0
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2023-12-12 00:00:00 UTC
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Pre-Market Earnings Report for December 13, 2023 : PLAB, REVG, VBNK
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DCOMP
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https://www.nasdaq.com/articles/pre-market-earnings-report-for-december-13-2023-%3A-plab-revg-vbnk-0
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nan
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nan
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The following companies are expected to report earnings prior to market open on 12/13/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Photronics, Inc. (PLAB)is reporting for the quarter ending October 31, 2023. The capital goods company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.53. This value represents a 11.67% decrease compared to the same quarter last year. PLAB missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -1.92%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for PLAB is 11.07 vs. an industry ratio of 13.10.
REV Group, Inc. (REVG)is reporting for the quarter ending October 31, 2023. The transportation services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.34. This value represents a 36.00% increase compared to the same quarter last year. In the past year REVG has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 47.62%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for REVG is 17.13 vs. an industry ratio of 12.20, implying that they will have a higher earnings growth than their competitors in the same industry.
VersaBank (VBNK)is reporting for the quarter ending October 31, 2023. The bank (foreign) company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.32. This value represents a 88.24% increase compared to the same quarter last year. VBNK missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -9.68%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for VBNK is 7.11 vs. an industry ratio of 11.70.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The capital goods company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.53. The transportation services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.34. The bank (foreign) company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.32.
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Zacks Investment Research reports that the 2023 Price to Earnings ratio for PLAB is 11.07 vs. an industry ratio of 13.10. Zacks Investment Research reports that the 2023 Price to Earnings ratio for REVG is 17.13 vs. an industry ratio of 12.20, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2023 Price to Earnings ratio for VBNK is 7.11 vs. an industry ratio of 11.70.
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PLAB missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -1.92%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for REVG is 17.13 vs. an industry ratio of 12.20, implying that they will have a higher earnings growth than their competitors in the same industry. VBNK missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -9.68%.
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PLAB missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -1.92%. In the past year REVG has beat the expectations every quarter. VBNK missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -9.68%.
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0d8df657-2451-4e73-8ff6-7e6f6958b5e2
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713071.0
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2023-12-12 00:00:00 UTC
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Why Rivian Stock Dropped Today
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DCOMP
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https://www.nasdaq.com/articles/why-rivian-stock-dropped-today-5
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Investors had some conflicting feelings about the future of Rivian Automotive (NASDAQ: RIVN) stock today. But there's a good explanation for why its shares plunged and then recovered from their lows.
Rivian shares sank by more than 6% this morning, but recovered some of that drop by mid-afternoon. As of 3:30 p.m. ET, Rivian stock was still lower by 3.9%.
Good news, but bad news
The big news that drove Rivian stock movements today was that Ford announced plans to slash its production estimates in half for the electric F-150 Lightening next year. Instead of planning for a production volume of 3,200 Lightening pickup trucks per week, Ford now expects to make about 1,600 per week starting in January.
Considering the Lightening is currently the closest available competitor to Rivian's R1T fully electric pickup truck, that could mean more business for Rivian next year. But Ford said it is cutting manufacturing volume "to match production with customer demand." That could mean that Rivian's pickup trucks may also face demand headwinds.
Rivian may be top dog
Rivian hopes to produce about 54,000 total electric vehicles (EVs) this year. That's across its three-vehicle lineup consisting of the pickup truck, the R1S SUV, and an electric commercial delivery van. The company hasn't announced its volume plans for 2024 yet, but it will need to meaningfully increase production and sales to stem its losses.
Ford's announcement means it should now produce about 80,000 F-150 Lightening trucks next year. That production adjustment is significant unit volume when considering Rivian's capacity.
That leaves investors with one of two thought processes looking into 2024. Either Rivian's trucks are dominating the market and siphoning expected demand from Ford, or overall demand for electric pickup trucks could be diving.
Investors today seem to be betting the latter may be more likely, especially with other signs of EV demand decreasing. That's the more conservative investing approach, of course. But if Rivian's trucks don't end up seeing the demand drop that Ford is seeing, Rivian could show that it is the top dog for EV trucks next year. That could move the stock higher in 2024.
Should you invest $1,000 in Rivian Automotive right now?
Before you buy stock in Rivian Automotive, consider this:
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See the 10 stocks
*Stock Advisor returns as of December 11, 2023
Howard Smith has positions in Rivian Automotive. 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.
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Investors had some conflicting feelings about the future of Rivian Automotive (NASDAQ: RIVN) stock today. That's across its three-vehicle lineup consisting of the pickup truck, the R1S SUV, and an electric commercial delivery van. The company hasn't announced its volume plans for 2024 yet, but it will need to meaningfully increase production and sales to stem its losses.
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Good news, but bad news The big news that drove Rivian stock movements today was that Ford announced plans to slash its production estimates in half for the electric F-150 Lightening next year. Instead of planning for a production volume of 3,200 Lightening pickup trucks per week, Ford now expects to make about 1,600 per week starting in January. Before you buy stock in Rivian Automotive, 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 Rivian Automotive wasn't one of them.
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Good news, but bad news The big news that drove Rivian stock movements today was that Ford announced plans to slash its production estimates in half for the electric F-150 Lightening next year. But if Rivian's trucks don't end up seeing the demand drop that Ford is seeing, Rivian could show that it is the top dog for EV trucks next year. Before you buy stock in Rivian Automotive, 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 Rivian Automotive wasn't one of them.
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But if Rivian's trucks don't end up seeing the demand drop that Ford is seeing, Rivian could show that it is the top dog for EV trucks next year. Before you buy stock in Rivian Automotive, 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 Rivian Automotive wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Howard Smith has positions in Rivian Automotive.
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dc02a321-c3d9-42dc-8d7e-99bce5da07cf
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713072.0
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2023-12-12 00:00:00 UTC
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US STOCKS-Wall St advances after inflation data with Fed on deck
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https://www.nasdaq.com/articles/us-stocks-wall-st-advances-after-inflation-data-with-fed-on-deck
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By Chuck Mikolajczak
NEW YORK, Dec 12 (Reuters) - U.S. stocks closed higher on Tuesday as the major indexes hit fresh highs for the year, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday.
The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Core prices, excluding volatile items such as food and energy costs, also matched expectations, showing a 4% annual rise.
On a month-on-month basis, consumer prices ticked up 0.1% last month, compared with estimates of remaining unchanged.
Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
Expectations for a cut of at least 25 basis points in March fell to 43.7%, from about 50% before the data, according to the CME Group's FedWatch Tool. The market is now pricing in a chance of about 78% for a cut in May, up from about 75% on Monday.
"The market is certainly assuming that inflation is going to keep coming down, that earnings in this next year are going to show some decent growth and the Fed is going to cut rates," said Scott Wren, seniorglobal marketstrategist at the Wells Fargo Investment Institute in St. Louis.
"The market is counting on more of a soft landing that would allow the Fed to ease up."
According to preliminary data, the S&P 500 .SPX gained 21.15 points, or 0.46%, to end at 4,643.59 points, while the Nasdaq Composite .IXIC gained 99.83 points, or 0.69%, to 14,532.31. The Dow Jones Industrial Average .DJI rose 172.09 points, or 0.47%, to 36,574.35.
Wren also said stocks were facing resistance at their highs of the year, with a strong push to the upside unlikely for the near-to-intermediate term.
Another factor dampening volatility could be an options expiration at the end of the week with the S&P 500 not having registered a 1% move in either direction for 18 straight sessions, the longest such streak since August.
Markets will get another look at inflation data in the form of the Producer Price Index (PPI) before all eyes turn to the Fed's policy announcement at the conclusion of its two-day meeting on Wednesday.
The European Central Bank and the Bank of England are also scheduled to deliver their policy verdicts later this week.
Oracle ORCL.N slumped as the cloud services provider forecast third-quarter revenue below estimates on slowing demand for its cloud service.
Energy .SPNY was the worst-performing of the 11 major S&P sectors, falling about 1% as crude prices settled down nearly 4%. The tech sector .SPLRCT, however, was among the best-performing, touching a record high as it is on track for its biggest yearly percentage gain since 2019.
Google-parent Alphabet GOOGL.O dipped after "Fortnite" maker Epic Games prevailed in its high-profile antitrust trial over the company.
Annual price changes for US consumers https://tmsnrt.rs/46TWOeO
(Reporting by Chuck Mikolajczak in New York Editing by Matthew Lewis)
((charles.mikolajczak@tr.com; @ChuckMik;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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"The market is certainly assuming that inflation is going to keep coming down, that earnings in this next year are going to show some decent growth and the Fed is going to cut rates," said Scott Wren, seniorglobal marketstrategist at the Wells Fargo Investment Institute in St. Louis. Another factor dampening volatility could be an options expiration at the end of the week with the S&P 500 not having registered a 1% move in either direction for 18 straight sessions, the longest such streak since August. Markets will get another look at inflation data in the form of the Producer Price Index (PPI) before all eyes turn to the Fed's policy announcement at the conclusion of its two-day meeting on Wednesday.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks closed higher on Tuesday as the major indexes hit fresh highs for the year, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. According to preliminary data, the S&P 500 .SPX gained 21.15 points, or 0.46%, to end at 4,643.59 points, while the Nasdaq Composite .IXIC gained 99.83 points, or 0.69%, to 14,532.31.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks closed higher on Tuesday as the major indexes hit fresh highs for the year, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks closed higher on Tuesday as the major indexes hit fresh highs for the year, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday. Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022. According to preliminary data, the S&P 500 .SPX gained 21.15 points, or 0.46%, to end at 4,643.59 points, while the Nasdaq Composite .IXIC gained 99.83 points, or 0.69%, to 14,532.31.
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2ce0679a-15b2-4073-b094-7c5be5645ed0
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713073.0
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2023-12-12 00:00:00 UTC
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3 Mid-Cap Stocks to Buy for Their Big-Time Dividends
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https://www.nasdaq.com/articles/3-mid-cap-stocks-to-buy-for-their-big-time-dividends
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Are you looking for mid-cap dividend stocks to buy? If so, you’re in luck.
I recently read about a mutual fund managed by Fenimore Asset Management, a company I haven’t heard from in some time. Based in Cobleskill, New York, a small town about 50 miles southwest of Albany, it manages $3.7 billion for individuals, institutions, and mutual funds.
The mutual fund discussed in the Nov. 29 Barron’s article was the FAM Dividend Focus Fund (MUTF:FAMEX), which focuses on mid-cap stocks paying significant dividends.
The actively managed fund currently has $628 million in net assets invested across 28 stocks, many of which I’d have no problem owning. The top 10 holdings account for 54% of the portfolio. Morningstar.com gives it a five-star rating. It is undoubtedly a fund worth considering if you’re open to investing in mutual funds.
However, this is an article about mid-cap dividend-paying stocks. Here are three of FAMEX’s stocks to buy now.
Arthur J. Gallagher & Company (AJG)
Arthur J. Gallagher & Company (NYSE:AJG) sounds like a generic name of an accounting or advertising firm. It’s a Chicago-based property & casualty insurance broker with nearly 50,000 employees providing services in 130 countries worldwide.
The company is the largest position in FAMEX with a weight of 8.0%. Earlier in 2023, I recommended AJG stock and six other dividend stocks to buy to retire rich. I pointed out that Patrick Gallagher, the founder’s grandson, has run the company since 1995, delivering nearly a 2,400% return.
Over the same 28 years in charge, the CEO has grown the firm from $200 million in 1995 revenue to $8.41 billion in 2022. He’s done that through a combination of organic growth and acquisitions.
On Dec. 7, it announced that it had acquired Australian-based My Plan Manager, a provider of plan management services for Australians eligible for the National Disability Insurance Scheme (NDIS), which provides disability support for the 4.3 million disabled Australians. My Plan Manager is Australia’s largest provider of plan management services. No terms were released.
Gallagher’s current annual dividend rate is $2.20, yielding 0.9%.
Broadridge Financial Solutions (BR)
Broadridge Financial Solutions (NYSE:BR) is a financial services company that spends most of its time in the background providing services to the investment industry, including investor communications, securities processing and transaction clearing.
Broadridge most recently increased its quarterly dividend by 10.3% with the October 2023 payment to $0.80 a share from $0.725. The annual rate of $3.20 yields 1.7%.
In a good call from April, InvestorPlace’s Ian Bezek recommended Broadridge stock, suggesting that Morningstar valued its shares at $185, $40 more than its share price. Since then, the company’s share price has gained 32%. Over the past five years, they’re up 98%, 21 percentage points higher than the S&P 500.
The beauty of Broadridge’s business is that a significant portion of its revenue is recurring. In Q1 2024, its total revenue was $1.43 billion, 59% recurring, with $199 million in adjusted operating income, 33% higher than a year earlier. Its adjusted operating margin in the first quarter was 13.9%, 220 basis points higher than Q1 2023.
For 2024, it expects recurring revenues to grow by 7.5% at the midpoint of its guidance, new annual recurring revenue generated of $300 million, and a 20% adjusted operating margin, considerably higher than in the first quarter.
Pool Corporation (POOL)
As its name implies, Pool Corporation (NASDAQ:POOL) distributes pool supplies. However, it’s not some mom-and-pop operation. It is the world’s largest wholesale distributor of swimming pool equipment, parts, and supplies, operating more than 420 locations worldwide.
It operates in the U.S., Canada, Mexico, France, the UK, other EU countries, and Australia, with over 125,000 customers, including installers of new swimming pools, retail stores selling outdoor living products, pool and hot maintenance companies, and landscape and irrigation contractors.
Pool is one of those stocks I’ve recommended regularly over the years. In October 2020, I suggested it was a small cap worth owning. Earlier in 2020, I argued that it should be in the S&P 500. It was added to the index on Oct. 1, 2020.
I love the business because the recurring revenue is tremendous. Sure, in economic downturns, it will lose business from companies building new pools, but those maintaining pools with weekly or bi-weekly service will still need pool supplies.
Analysts are lukewarm on its stock. Of the 12 that cover it, six rate it a Buy, with a $372.50 target price. Despite its shares moving sideways since August 2022, they are up 141% over the past five years, nearly double the S&P 500.
Long-term, its chances of continuing to outperform the index are excellent.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.
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The post 3 Mid-Cap Stocks to Buy for Their Big-Time Dividends appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Based in Cobleskill, New York, a small town about 50 miles southwest of Albany, it manages $3.7 billion for individuals, institutions, and mutual funds. It is the world’s largest wholesale distributor of swimming pool equipment, parts, and supplies, operating more than 420 locations worldwide. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires.
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Arthur J. Gallagher & Company (AJG) Arthur J. Gallagher & Company (NYSE:AJG) sounds like a generic name of an accounting or advertising firm. Broadridge Financial Solutions (BR) Broadridge Financial Solutions (NYSE:BR) is a financial services company that spends most of its time in the background providing services to the investment industry, including investor communications, securities processing and transaction clearing. In Q1 2024, its total revenue was $1.43 billion, 59% recurring, with $199 million in adjusted operating income, 33% higher than a year earlier.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Are you looking for mid-cap dividend stocks to buy? The mutual fund discussed in the Nov. 29 Barron’s article was the FAM Dividend Focus Fund (MUTF:FAMEX), which focuses on mid-cap stocks paying significant dividends. Pool Corporation (POOL) As its name implies, Pool Corporation (NASDAQ:POOL) distributes pool supplies.
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However, this is an article about mid-cap dividend-paying stocks. Earlier in 2023, I recommended AJG stock and six other dividend stocks to buy to retire rich. In Q1 2024, its total revenue was $1.43 billion, 59% recurring, with $199 million in adjusted operating income, 33% higher than a year earlier.
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236e26a7-8f19-4390-8d34-f4608468108b
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2023-12-12 00:00:00 UTC
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Li Auto Stock: Buy Every Dip for Ridiculous Returns
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https://www.nasdaq.com/articles/li-auto-stock%3A-buy-every-dip-for-ridiculous-returns
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
If you’re going to invest in clean-energy vehicles, I invite you to expand your horizons beyond U.S. borders. China-based electric vehicle (EV) manufacturer Li Auto (NASDAQ:LI) is a fast-growing company that some financial traders haven’t caught on to yet. That’s perfectly fine, as LI stock will rocket higher when the retail trading crowd finally sees Li Auto’s full potential.
Bear in mind there’s a major event coming up for Li Auto. The company is set to begin mass production of its first fully electric cars in February 2024. Yet, that’s not the only notable news for Li Auto, so start building your share position now if you want to get in the fast lane.
Don’t Skip the Dip With LI Stock
Li Auto stock fell from $42 to $35 recently, but don’t get shaken out of the trade. This is the time to get on board, not run for cover.
After all, smart investors are thinking long-term with Li Auto and aren’t too worried about short-term share-price moves. They’re focused on Li Auto’s strategies to secure a leadership position in the global new-energy vehicle industry.
For example, Li Auto is hiring workers in Singapore to build automotive chips in-house. That’s a savvy strategy as it will enable Li Auto to gain control over the company’s supply chain.
Furthermore, Li Auto is working diligently to develop autonomous driving technology. Li Auto CEO Xiang Li revealed that the company’s AD Max 3.0 platform “will provide full scenario autonomous driving (Navigation on ADAS [advanced driver-assistance systems]) and assisted driving (lane change control) functions.” Stay tuned for further developments as Li Auto rapidly advances toward a full rollout of the AD Max 3.0 autonomous driving platform.
You Can’t Argue With Li Auto’s Delivery Figures
It’s surprising that LI stock isn’t much higher than its current price right now. Just take a glance at Li Auto’s third-quarter 2023 results. Amazingly, the company’s vehicle deliveries surged 296.3% year over year.
In case that’s not enough to convince the skeptics, Li Auto posted astounding stats for the month of November. On a year-over-year basis, the company’s vehicle deliveries grew 172.9% to 41,030 units.
Consequently, Li Auto reached a significant milestone earlier than expected. At the end of November 2023, Li Auto’s cumulative year-to-date vehicle deliveries totaled 325,677; thus, the company has already reached its full-year 2023 target of 300,000 vehicle deliveries.
Moreover, Li (the company’s CEO) pointed out that Li Auto’s “monthly deliveries have exceeded 40,000 vehicles for two consecutive months.” This is the “highest among Chinese emerging new energy automakers and premium brands in China.”
As the old saying goes, it’s not bragging if it’s true. These vehicle delivery figures should persuade any reluctant investor to give LI stock a try with a small share position.
Li Auto Stock: Any Pullback Is a Gift
When a stock representing an innovative, fast-growing company dips, the best response is to pick up a few shares. Therefore, today, you have a prime opportunity to buy Li Auto stock at a discount.
Or, you can hesitate and just watch Li Auto get bigger and better from the sidelines. Then, you might end up buying LI stock at a higher price and wishing you had heeded my dip-buying advice.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
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The post Li Auto Stock: Buy Every Dip for Ridiculous Returns appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These vehicle delivery figures should persuade any reluctant investor to give LI stock a try with a small share position. David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Li Auto Stock: Buy Every Dip for Ridiculous Returns appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips If you’re going to invest in clean-energy vehicles, I invite you to expand your horizons beyond U.S. borders. Li Auto CEO Xiang Li revealed that the company’s AD Max 3.0 platform “will provide full scenario autonomous driving (Navigation on ADAS [advanced driver-assistance systems]) and assisted driving (lane change control) functions.” Stay tuned for further developments as Li Auto rapidly advances toward a full rollout of the AD Max 3.0 autonomous driving platform. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Li Auto Stock: Buy Every Dip for Ridiculous Returns appeared first on InvestorPlace.
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China-based electric vehicle (EV) manufacturer Li Auto (NASDAQ:LI) is a fast-growing company that some financial traders haven’t caught on to yet. Don’t Skip the Dip With LI Stock Li Auto stock fell from $42 to $35 recently, but don’t get shaken out of the trade. Li Auto CEO Xiang Li revealed that the company’s AD Max 3.0 platform “will provide full scenario autonomous driving (Navigation on ADAS [advanced driver-assistance systems]) and assisted driving (lane change control) functions.” Stay tuned for further developments as Li Auto rapidly advances toward a full rollout of the AD Max 3.0 autonomous driving platform.
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At the end of November 2023, Li Auto’s cumulative year-to-date vehicle deliveries totaled 325,677; thus, the company has already reached its full-year 2023 target of 300,000 vehicle deliveries. These vehicle delivery figures should persuade any reluctant investor to give LI stock a try with a small share position. On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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2023-12-12 00:00:00 UTC
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Tuesday 12/12 Insider Buying Report: NEE, HI
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https://www.nasdaq.com/articles/tuesday-12-12-insider-buying-report%3A-nee-hi
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At NextEra Energy, a filing with the SEC revealed that on Friday, Director Nicole S. Arnaboldi purchased 8,500 shares of NEE, for a cost of $59.59 each, for a total investment of $506,515. NextEra Energy is trading off about 1% on the day Tuesday. This purchase marks the first one filed by Arnaboldi in the past year.
And at Hillenbrand, there was insider buying on Thursday, by CEO Kimberly K. Ryan who purchased 3,156 shares at a cost of $39.54 each, for a trade totaling $124,788. This purchase marks the first one filed by Ryan in the past year. Hillenbrand is trading down about 0.8% on the day Tuesday. Ryan was up about 3.1% on the buy at the high point of today's trading session, with HI trading as high as $40.77 in trading on Tuesday.
VIDEO: Tuesday 12/12 Insider Buying Report: NEE, HI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. At NextEra Energy, a filing with the SEC revealed that on Friday, Director Nicole S. Arnaboldi purchased 8,500 shares of NEE, for a cost of $59.59 each, for a total investment of $506,515. And at Hillenbrand, there was insider buying on Thursday, by CEO Kimberly K. Ryan who purchased 3,156 shares at a cost of $39.54 each, for a trade totaling $124,788.
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At NextEra Energy, a filing with the SEC revealed that on Friday, Director Nicole S. Arnaboldi purchased 8,500 shares of NEE, for a cost of $59.59 each, for a total investment of $506,515. Ryan was up about 3.1% on the buy at the high point of today's trading session, with HI trading as high as $40.77 in trading on Tuesday. VIDEO: Tuesday 12/12 Insider Buying Report: NEE, HI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. And at Hillenbrand, there was insider buying on Thursday, by CEO Kimberly K. Ryan who purchased 3,156 shares at a cost of $39.54 each, for a trade totaling $124,788. Ryan was up about 3.1% on the buy at the high point of today's trading session, with HI trading as high as $40.77 in trading on Tuesday.
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At NextEra Energy, a filing with the SEC revealed that on Friday, Director Nicole S. Arnaboldi purchased 8,500 shares of NEE, for a cost of $59.59 each, for a total investment of $506,515. And at Hillenbrand, there was insider buying on Thursday, by CEO Kimberly K. Ryan who purchased 3,156 shares at a cost of $39.54 each, for a trade totaling $124,788. Ryan was up about 3.1% on the buy at the high point of today's trading session, with HI trading as high as $40.77 in trading on Tuesday.
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11979792-91d2-4652-9af3-19d2f7d8bde4
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713076.0
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2023-12-12 00:00:00 UTC
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X's 2023 ad sales to slump to $2.5 billion - Bloomberg News
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https://www.nasdaq.com/articles/xs-2023-ad-sales-to-slump-to-%242.5-billion-bloomberg-news
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Adds comment from X in paragraph 3, details from report in paragraphs 5,6, background on X's ad revenue in paragraph 7
Dec 12 (Reuters) - Elon Musk's social media platform X's 2023 ad sales are projected to fall to about $2.5 billion, Bloomberg News reported on Tuesday.
Musk had last month cursed out advertisers that have left his social media platform over antisemitic content.
A representative for X told Reuters the report "presents an incomplete view of our entire business, as the sources Bloomberg relied on for information are not providing accurate and comprehensive details".
Several companies including Comcast CMCSA.O and Walt Disney DIS.N paused their advertisements on the platform after Musk last month agreed with a post on X that claimed Jewish people were stoking hatred against white people.
X, formerly known as Twitter, generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, the Bloomberg report added citing people familiar with the matter.
Ad sales currently make up between 70% and 75% of X's total revenue, according to the report.
(Reporting by Arsheeya Bajwa in Bengaluru and Sheila Dang in Dallas; Editing by Krishna Chandra Eluri)
((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Musk had last month cursed out advertisers that have left his social media platform over antisemitic content. A representative for X told Reuters the report "presents an incomplete view of our entire business, as the sources Bloomberg relied on for information are not providing accurate and comprehensive details". X, formerly known as Twitter, generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, the Bloomberg report added citing people familiar with the matter.
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Adds comment from X in paragraph 3, details from report in paragraphs 5,6, background on X's ad revenue in paragraph 7 Dec 12 (Reuters) - Elon Musk's social media platform X's 2023 ad sales are projected to fall to about $2.5 billion, Bloomberg News reported on Tuesday. Musk had last month cursed out advertisers that have left his social media platform over antisemitic content. X, formerly known as Twitter, generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, the Bloomberg report added citing people familiar with the matter.
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Adds comment from X in paragraph 3, details from report in paragraphs 5,6, background on X's ad revenue in paragraph 7 Dec 12 (Reuters) - Elon Musk's social media platform X's 2023 ad sales are projected to fall to about $2.5 billion, Bloomberg News reported on Tuesday. Several companies including Comcast CMCSA.O and Walt Disney DIS.N paused their advertisements on the platform after Musk last month agreed with a post on X that claimed Jewish people were stoking hatred against white people. X, formerly known as Twitter, generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, the Bloomberg report added citing people familiar with the matter.
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Adds comment from X in paragraph 3, details from report in paragraphs 5,6, background on X's ad revenue in paragraph 7 Dec 12 (Reuters) - Elon Musk's social media platform X's 2023 ad sales are projected to fall to about $2.5 billion, Bloomberg News reported on Tuesday. Musk had last month cursed out advertisers that have left his social media platform over antisemitic content. A representative for X told Reuters the report "presents an incomplete view of our entire business, as the sources Bloomberg relied on for information are not providing accurate and comprehensive details".
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f7adbfd8-6618-48c5-88a1-043aaf0617e7
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713077.0
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2023-12-12 00:00:00 UTC
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Massive News for ChargePoint Stock Investors!
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https://www.nasdaq.com/articles/massive-news-for-chargepoint-stock-investors-0
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Fool.com contributor Parkev Tatevosian highlights how ChargePoint's (NYSE: CHPT) new CEO aims to get the company on a sustainable path. The EV charging company is losing significant sums of money on the bottom line.
*Stock prices used were the afternoon prices of Dec. 10, 2023. The video was published on Dec. 12, 2023.
Should you invest $1,000 in ChargePoint right now?
Before you buy stock in ChargePoint, 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 ChargePoint 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
Parkev Tatevosian, CFA 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.
Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fool.com contributor Parkev Tatevosian highlights how ChargePoint's (NYSE: CHPT) new CEO aims to get the company on a sustainable path. The EV charging company is losing significant sums of money on the bottom line. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services.
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Before you buy stock in ChargePoint, 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 ChargePoint wasn't one of them. 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 Parkev Tatevosian, CFA has no position in any of the stocks mentioned.
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Before you buy stock in ChargePoint, 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 ChargePoint 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 Parkev Tatevosian, CFA has no position in any of the stocks mentioned.
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Before you buy stock in ChargePoint, 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 ChargePoint wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Parkev Tatevosian, CFA has no position in any of the stocks mentioned. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services.
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c5511d32-b2de-4b66-8e61-93be0afb0db3
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713078.0
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2023-12-12 00:00:00 UTC
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Archer Aviation Stock: Aim for the Skies, But Have an Exit Parachute Ready
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https://www.nasdaq.com/articles/archer-aviation-stock%3A-aim-for-the-skies-but-have-an-exit-parachute-ready
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Archer Aviation (NYSE:ACHR) stands out as an early mover in a high-potential industry. Consequently, the sky is the limit for ACHR stock — but then, it could also have a crash landing. Even if you strongly believe in Archer Aviation’s future prospects, you’ll definitely want to have an exit strategy in place.
Archer Aviation manufactures flying taxis, more formally known as electric vertical takeoff and landing (eVTOL) aircraft. Someday, the skies could be filled with these flying vehicles. There are no guarantees, however, so it’s wise to hedge your bets with Archer Aviation stock.
Archer Aviation’s Forward-Looking Strategy
In terms of its adoption curve, the eVTOL industry has similarities with the electric vehicle (EV) market. To facilitate faster and wider adoption, it certainly helps if there’s an interoperable vehicle charging system in place.
Clearly, Archer Aviation’s management understands this concept. The company announced that it “purchased several units of” BETA Technologies’ “interoperable and multimodal fast-charging system” for eVTOL aircraft.
According to the press release, this charging system “employs the Combined Charging Standard (CCS) utilized by top original equipment manufacturers (OEMs) in the electric aviation industry.” Currently, BETA Technologies’ charging systems are in use at 14 locations in the eastern region of the U.S.
The skeptics might say that these are just baby steps. That’s a fair assessment, but it’s a start, and it’s encouraging to see Archer Aviation taking the initiative. Over time, the company could be a pioneer in developing an interoperable fast-charging system for eVTOL aircraft.
ACHR Stock Is a Wager on International eVTOL Industry Development
If you’re going to invest in Archer Aviation stock, there are certain things you need to be aware of. Notably, Archer Aviation operates at a financial loss. In fact, the company reported a GAAP-measured net earnings loss of $51.6 million in 2023’s third quarter.
In other words, ACHR stock involves certain risks. Investors will have to hope that the flying taxi industry develops quickly over the next few years. Otherwise, Archer Aviation could dig itself into a deep financial hole that the company can’t get out of.
On the other hand, Archer Aviation could generate significant revenue from certain regions of the world. In particular, Archer Aviation has ambitions to bring eVTOL aircraft to India and the United Arab Emirates (UAE) in 2026.
Don’t get the wrong idea. Archer Aviation also operates in the U.S. Indeed, the company secured an eVTOL manufacturing deal with the U.S. Air Force that will be worth up to $142 million for Archer Aviation. Still, it’s exciting to consider that Archer Aviation might blaze a trail for the flying taxi market on more than one continent.
Archer Aviation Stock: What’s Your Exit Plan?
If you’re going to fly in a small aircraft, it’s not a bad idea to have a parachute ready. Similarly, you’ll want to have an exit plan in place just in case Archer Aviation stock starts to crash.
The best hedging strategy is to simply take a very small share position in Archer Aviation. It’s also possible to purchase put options in order to limit your potential losses with ACHR stock.
Additionally, you can use a stop-loss strategy by determining a price at which you would sell your Archer Aviation stock if it crashes. Either way, just be sure to have a financial parachute ready if you choose to invest your hard-earned capital in Archer Aviation.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
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The post Archer Aviation Stock: Aim for the Skies, But Have an Exit Parachute Ready appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Archer Aviation’s Forward-Looking Strategy In terms of its adoption curve, the eVTOL industry has similarities with the electric vehicle (EV) market. David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Archer Aviation Stock: Aim for the Skies, But Have an Exit Parachute Ready appeared first on InvestorPlace.
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Archer Aviation manufactures flying taxis, more formally known as electric vertical takeoff and landing (eVTOL) aircraft. The company announced that it “purchased several units of” BETA Technologies’ “interoperable and multimodal fast-charging system” for eVTOL aircraft. Similarly, you’ll want to have an exit plan in place just in case Archer Aviation stock starts to crash.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Archer Aviation (NYSE:ACHR) stands out as an early mover in a high-potential industry. ACHR Stock Is a Wager on International eVTOL Industry Development If you’re going to invest in Archer Aviation stock, there are certain things you need to be aware of. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Archer Aviation Stock: Aim for the Skies, But Have an Exit Parachute Ready appeared first on InvestorPlace.
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Consequently, the sky is the limit for ACHR stock — but then, it could also have a crash landing. Archer Aviation manufactures flying taxis, more formally known as electric vertical takeoff and landing (eVTOL) aircraft. Notably, Archer Aviation operates at a financial loss.
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a217932d-bd14-4e96-8e2c-61cbce2c7d09
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713079.0
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2023-12-12 00:00:00 UTC
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US STOCKS-Wall St hits fresh 2023 highs after inflation data; Fed on deck
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https://www.nasdaq.com/articles/us-stocks-wall-st-hits-fresh-2023-highs-after-inflation-data-fed-on-deck
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By Chuck Mikolajczak
NEW YORK, Dec 12 (Reuters) - U.S. stocks closed at fresh highs of the year on Tuesday, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday.
The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Core prices, excluding volatile items such as food and energy costs, also matched expectations, showing a 4% annual rise.
On a month-on-month basis, consumer prices ticked up 0.1% last month, compared with estimates of remaining unchanged.
Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
Expectations for a cut of at least 25 basis points in March fell to 43.7%, from about 50% before the data, according to the CME Group's FedWatch Tool. The market is now pricing in a chance of about 78% for a cut in May, up from about 75% on Monday.
"The market is certainly assuming that inflation is going to keep coming down, that earnings in this next year are going to show some decent growth and the Fed is going to cut rates," said Scott Wren, seniorglobal marketstrategist at the Wells Fargo Investment Institute in St. Louis.
"The market is counting on more of a soft landing that would allow the Fed to ease up."
The Dow Jones Industrial Average .DJI rose 173.01 points, or 0.48%, to 36,577.94, the S&P 500 .SPX gained 21.26 points, or 0.46%, to 4,643.70 and the Nasdaq Composite .IXIC gained 100.91 points, or 0.70%, to 14,533.40.
The Dow closed at its highest level since Jan. 4, 2022, the S&P 500 its highest close since Jan. 14, 2022, and the Nasdaq its highest closing level since March 29, 2022.
Wren also said stocks were facing resistance at their highs of the year, with a strong push to the upside unlikely for the near-to-intermediate term.
Another factor dampening volatility could be an options expiration at the end of the week, with the S&P 500 not registering a move of 1% in either direction for 19 straight sessions, the longest such streak since August.
Markets will get another look at inflation data in the form of the Producer Price Index (PPI) before all eyes turn to the Fed's policy announcement at the conclusion of its two-day meeting on Wednesday.
The European Central Bank and the Bank of England are also scheduled to deliver their policy verdicts later this week.
Oracle ORCL.N slumped 12.44% as the cloud services provider forecast third-quarter revenue below estimates on slowing demand for its cloud service.
Energy .SPNY was the worst-performing of the 11 major S&P sectors, falling 1.35% as crude prices settled down nearly 4%. The tech sector .SPLRCT, however, was among the best-performing, rising for a fourth straight session to close at a record high of 3,344.07, on track for its biggest yearly percentage gain since 2019.
Google-parent Alphabet GOOGL.O dipped 0.58% after "Fortnite" maker Epic Games prevailed in its high-profile antitrust trial over the company.
Advancing issues were roughly even with decliners on the NYSE while declining issues outnumbered advancers by a 1.3-to-1 ratio on the Nasdaq.
The S&P 500 posted 74 new 52-week highs and 2 new lows while the Nasdaq recorded 198 new highs and 187 new lows.
Volume on U.S. exchanges was 10.52 billion shares, compared with the 10.95 billion average for the full session over the last 20 trading days.
Annual price changes for US consumers https://tmsnrt.rs/46TWOeO
(Reporting by Chuck Mikolajczak in New York Editing by Matthew Lewis)
((charles.mikolajczak@tr.com; @ChuckMik;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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"The market is certainly assuming that inflation is going to keep coming down, that earnings in this next year are going to show some decent growth and the Fed is going to cut rates," said Scott Wren, seniorglobal marketstrategist at the Wells Fargo Investment Institute in St. Louis. Markets will get another look at inflation data in the form of the Producer Price Index (PPI) before all eyes turn to the Fed's policy announcement at the conclusion of its two-day meeting on Wednesday. The tech sector .SPLRCT, however, was among the best-performing, rising for a fourth straight session to close at a record high of 3,344.07, on track for its biggest yearly percentage gain since 2019.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks closed at fresh highs of the year on Tuesday, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. The Dow closed at its highest level since Jan. 4, 2022, the S&P 500 its highest close since Jan. 14, 2022, and the Nasdaq its highest closing level since March 29, 2022.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks closed at fresh highs of the year on Tuesday, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday. The November Consumer Price Index (CPI) rose 3.1% on an annual basis, in line with estimates from economists polled by Reuters, as a drop in gasoline prices was overshadowed by a rise in rents. Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022.
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By Chuck Mikolajczak NEW YORK, Dec 12 (Reuters) - U.S. stocks closed at fresh highs of the year on Tuesday, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve, as investors awaited the central bank's last policy decision of the year on Wednesday. Markets had recently been pricing in a rate cut by the Federal Reserve as soon as March, but traders pared those bets and are now targeting May for the first rate cut after the central bank began its hiking cycle in March 2022. The tech sector .SPLRCT, however, was among the best-performing, rising for a fourth straight session to close at a record high of 3,344.07, on track for its biggest yearly percentage gain since 2019.
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713080.0
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2023-12-12 00:00:00 UTC
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After Hours Most Active for Dec 12, 2023 : AAPL, HST, CRH, COTY, MSFT, CCCC, BMY, QQQ, BAC, COMP, CMCSA, F
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https://www.nasdaq.com/articles/after-hours-most-active-for-dec-12-2023-%3A-aapl-hst-crh-coty-msft-cccc-bmy-qqq-bac-comp
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The NASDAQ 100 After Hours Indicator is up 7.82 to 16,362.07. The total After hours volume is currently 94,543,373 shares traded.
The following are the most active stocks for the after hours session:
Apple Inc. (AAPL) is +0.03 at $194.74, with 4,650,705 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Host Hotels & Resorts, Inc. (HST) is unchanged at $18.61, with 3,764,737 shares traded. As reported in the last short interest update the days to cover for HST is 8.579568; this calculation is based on the average trading volume of the stock.
CRH PLC (CRH) is unchanged at $65.63, with 3,126,439 shares traded. As reported by Zacks, the current mean recommendation for CRH is in the "buy range".
Coty Inc. (COTY) is -0.01 at $11.90, with 2,565,817 shares traded. COTY's current last sale is 99.17% of the target price of $12.
Microsoft Corporation (MSFT) is +0.33 at $374.71, with 2,550,001 shares traded. As reported by Zacks, the current mean recommendation for MSFT is in the "buy range".
C4 Therapeutics, Inc. (CCCC) is +0.16 at $2.50, with 2,548,117 shares traded. As reported in the last short interest update the days to cover for CCCC is 8.628582; this calculation is based on the average trading volume of the stock.
Bristol-Myers Squibb Company (BMY) is unchanged at $50.51, with 2,537,442 shares traded. BMY's current last sale is 84.18% of the target price of $60.
Invesco QQQ Trust, Series 1 (QQQ) is +0.53 at $399.20, with 2,526,748 shares traded., following a 52-week high recorded in today's regular session.
Bank of America Corporation (BAC) is +0.02 at $30.76, with 2,472,337 shares traded. BAC's current last sale is 91.82% of the target price of $33.5.
Compass, Inc. (COMP) is +0.03 at $2.72, with 2,439,574 shares traded. COMP's current last sale is 95.44% of the target price of $2.85.
Comcast Corporation (CMCSA) is unchanged at $42.67, with 2,201,272 shares traded. As reported by Zacks, the current mean recommendation for CMCSA is in the "buy range".
Ford Motor Company (F) is +0.01 at $11.17, with 1,891,448 shares traded. F's current last sale is 79.79% of the target price of $14.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Host Hotels & Resorts, Inc. (HST) is unchanged at $18.61, with 3,764,737 shares traded. As reported in the last short interest update the days to cover for HST is 8.579568; this calculation is based on the average trading volume of the stock. As reported in the last short interest update the days to cover for CCCC is 8.628582; this calculation is based on the average trading volume of the stock.
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The total After hours volume is currently 94,543,373 shares traded. As reported in the last short interest update the days to cover for HST is 8.579568; this calculation is based on the average trading volume of the stock. As reported in the last short interest update the days to cover for CCCC is 8.628582; this calculation is based on the average trading volume of the stock.
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The total After hours volume is currently 94,543,373 shares traded. CRH PLC (CRH) is unchanged at $65.63, with 3,126,439 shares traded. Coty Inc. (COTY) is -0.01 at $11.90, with 2,565,817 shares traded.
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The following are the most active stocks for the after hours session: Bristol-Myers Squibb Company (BMY) is unchanged at $50.51, with 2,537,442 shares traded. Comcast Corporation (CMCSA) is unchanged at $42.67, with 2,201,272 shares traded.
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2cadc1a4-e388-4a08-bb36-f575eb7c4374
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713081.0
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2023-12-12 00:00:00 UTC
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Brandywine Realty Trust (BDN) Moves 6.4% Higher: Will This Strength Last?
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DCOMP
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https://www.nasdaq.com/articles/brandywine-realty-trust-bdn-moves-6.4-higher%3A-will-this-strength-last
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Brandywine Realty Trust (BDN) shares rallied 6.4% in the last trading session to close at $5.53. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 20.4% gain over the past four weeks.
After 11 interest rate hikes, the Fed's decision to pause rate hikes for the third month drove bullish sentiments across markets amid the optimism of easing inflation pressures. With this, the interest rates remain at a 22-year high of 5.25-5.5%. Further, the central bank indicated three interest rate cuts by 2024-end. These developments turned investor sentiment bullish on REIT stocks, as low rates are likely to make REITs funding cost more affordable. Hence, the BDN stock gained.
This real estate investment trust is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of -9.4%. Revenues are expected to be $134.08 million, up 4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Brandywine Realty Trust, the consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on BDN 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 >>>>
Brandywine Realty Trust is part of the Zacks REIT and Equity Trust - Other industry. Crown Castle (CCI), another stock in the same industry, closed the last trading session 1.9% lower at $114.55. CCI has returned 13.1% in the past month.
Crown Castle's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.78. Compared to the company's year-ago EPS, this represents a change of -3.8%. Crown Castle currently boasts a Zacks Rank of #3 (Hold).
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.
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Brandywine Realty Trust (BDN) : Free Stock Analysis Report
Crown Castle Inc. (CCI) : 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.
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This real estate investment trust is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of -9.4%. For Brandywine Realty Trust, the consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Brandywine Realty Trust is part of the Zacks REIT and Equity Trust - Other industry. Crown Castle's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.78. Click to get this free report Brandywine Realty Trust (BDN) : Free Stock Analysis Report Crown Castle Inc. (CCI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Brandywine Realty Trust is part of the Zacks REIT and Equity Trust - Other industry. Click to get this free report Brandywine Realty Trust (BDN) : Free Stock Analysis Report Crown Castle Inc. (CCI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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For Brandywine Realty Trust, the consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Brandywine Realty Trust is part of the Zacks REIT and Equity Trust - Other industry. Crown Castle's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.78.
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621b8220-4ec6-4b39-8a79-c9b858c0d64a
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2023-12-12 00:00:00 UTC
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TJX Companies (TJX) Exhibits Bright Prospects Amid Headwinds
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https://www.nasdaq.com/articles/tjx-companies-tjx-exhibits-bright-prospects-amid-headwinds
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The TJX Companies, Inc. TJX has been witnessing strength in its Marmaxx (U.S.) segment. In the third quarter of fiscal 2024, net sales came in at $8,107 million, up 9% year over year in the Marmaxx (U.S.) division.
U.S. comparable store sales grew 7% in Marmaxx, buoyed by solid apparel and home categories’ sales. Customer traffic remained the key driver behind comparable store sales growth. Also, solid momentum in its HomeGoods (U.S.) division, driven by a rise in customer traffic, remains a tailwind.
The company has been benefiting from its solid store and e-commerce growth efforts. It has been rapidly expanding its footprint in the United States, Europe, Canada and Australia. It plans to add net new stores in the near term, taking its year-end total to roughly 5,000 stores. With an increasing number of consumers resorting to online shopping, TJX has undertaken several initiatives to boost online sales and strengthen its e-commerce business.
The TJX Companies also remains committed to rewarding shareholders through dividend payouts and share buybacks. For instance, in the fiscal third quarter, it paid out dividends of $380 million and repurchased shares worth $650 million. The company expects to repurchase shares worth $2.25-$2.5 billion in fiscal 2024.
Driven by strength across its businesses, the company raised its outlook for fiscal 2024. For the fiscal year, it currently expects overall comparable store sales to grow by 4-5%. Consolidated sales are now envisioned in the band of $53.7-$53.9 billion, suggesting 7.5-8% year-over-year growth. For the fiscal fourth quarter, comparable store sales are expected to rise by 3-4% and consolidated sales are expected to increase by approximately 10% to $15.9-$16.1 billion.
Image Source: Zacks Investment Research
The Zacks Rank #3 (Hold) company’s shares have gained 12% in the past six months compared with the industry’s growth of 12.7%.
Despite the positives, TJX has been encountering escalating operating costs and expenses. In the fiscal third quarter, its cost of sales grew 6% while selling, general and administrative expenses increased by 18%. The company expects incremental wage and payroll costs to remain hurdles in the rest of fiscal 2024.
The company’s high debt profile poses a concern as well. Exiting third-quarter fiscal 2024, its long-term debt (including long-term operating lease liabilities) totaled $10.8 billion, reflecting an increase of 1.9% from the end of fiscal 2023. Further, an increase in debt levels can raise its financial obligations and hurt profitability.
Key Picks
We have highlighted three better-ranked stocks, namely Abercrombie & Fitch ANF, American Eagle Outfitters AEO and Gap GPS.
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 implies growth of 13.3% year over year. ANF delivered an earnings surprise of 713% in the last reported quarter.
Gap, a fashion retailer of apparel and accessories, currently sports 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 (“EPS”) indicates growth of 387.5% year over year.
American Eagle Outfitters, a retailer of casual apparel, accessories and footwear, currently has 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 EPS implies growth of 4% and 39.2%, respectively, from that reported a year ago.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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 TJX Companies, Inc. (TJX) : 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.
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Key Picks We have highlighted three better-ranked stocks, namely Abercrombie & Fitch ANF, American Eagle Outfitters AEO and Gap GPS. Abercrombie & Fitch, a leading casual apparel retailer, currently sports a Zacks Rank #1 (Strong Buy). So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
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The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial year sales implies growth of 13.3% year over year. The Zacks Consensus Estimate for American Eagle Outfitters’ current financial year sales and EPS implies growth of 4% and 39.2%, respectively, from that reported a year ago. Click to get this free report The TJX Companies, Inc. (TJX) : 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.
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The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial year sales implies growth of 13.3% year over year. The Zacks Consensus Estimate for American Eagle Outfitters’ current financial year sales and EPS implies growth of 4% and 39.2%, respectively, from that reported a year ago. Click to get this free report The TJX Companies, Inc. (TJX) : 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.
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In the third quarter of fiscal 2024, net sales came in at $8,107 million, up 9% year over year in the Marmaxx (U.S.) division. The company expects to repurchase shares worth $2.25-$2.5 billion in fiscal 2024. Image Source: Zacks Investment Research The Zacks Rank #3 (Hold) company’s shares have gained 12% in the past six months compared with the industry’s growth of 12.7%.
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2023-12-12 00:00:00 UTC
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MillerKnoll (MLKN) to Report Q2 Earnings: What's in Store?
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MillerKnoll, Inc. MLKN is scheduled to report its second-quarter fiscal 2024 results on Dec 20, after market close.
In the last reported quarter, the company’s earnings and net sales topped the Zacks Consensus Estimate by 76.2% and 1.9%, respectively. However, the top and bottom lines declined year over year.
MillerKnoll’s earnings topped the consensus mark in each of the last four quarters, the average surprise being 32.3%.
How are Estimates Placed?
The Zacks Consensus Estimate for the company's fiscal second-quarter 2024 earnings per share (EPS) has remained unchanged at 55 cents over the past 30 days. The current estimate suggests 19.6% growth from the year-ago quarter’s reported earnings value of 46 cents per share.
MillerKnoll, Inc. Price and EPS Surprise
MillerKnoll, Inc. price-eps-surprise | MillerKnoll, Inc. Quote
The consensus mark for net sales is pegged at $968.6 million, suggesting a decline of 9.2% from the year-ago reported figure of $1.07 billion.
Key Factors to Consider
MillerKnoll’s net sales for the to-be-reported quarter are expected to have declined year over year due to a notable decline in sales volume on the back of the soft North American housing market along with challenging macroeconomic conditions in Europe and China. The ongoing uncertainty in the economy is likely to have decreased the contributions from the company’s Global Retail, International & Specialty, and Americas segments, thus affecting its top line.
For fiscal second-quarter 2024, the company expects net sales to range between $950 million and $990 million, down on a year-over-year basis. That said, favorable price increases and incremental discounting are likely to have partially offset the aforesaid headwinds.
Meanwhile, MillerKnoll is expected to have witnessed bottom-line growth given its focus on the realization of price increases, ongoing benefits from integration-related synergies and positive shifts in product and channel mix. For the to-be-reported quarter, the company’s cost of sales is likely to have declined, and the gross margin is expected to have expanded year over year.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for MillerKnoll this time around. The company does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: MLKN has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Key Picks
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector.
Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank of 1. You can see the complete list of today’s Zacks Rank #1 stocks here.
It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has surged 127.3% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and EPS suggests rises of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. LYV currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 37.5%, on average. The stock has gained 34.2% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a 28.6% and 132.8% rise, respectively, from the year-ago period’s levels.
Grand Canyon Education, Inc. LOPE currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 9.9%, on average. The stock has gained 32.7% in the past year.
The Zacks Consensus Estimate for LOPE’s 2023 sales and EPS suggests an improvement of 7.1% and 17.1%, respectively, from the year-ago period’s levels.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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 >>
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
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
Grand Canyon Education, Inc. (LOPE) : Free Stock Analysis Report
MillerKnoll, Inc. (MLKN) : 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.
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The Zacks Consensus Estimate for the company's fiscal second-quarter 2024 earnings per share (EPS) has remained unchanged at 55 cents over the past 30 days. The ongoing uncertainty in the economy is likely to have decreased the contributions from the company’s Global Retail, International & Specialty, and Americas segments, thus affecting its top line. Meanwhile, MillerKnoll is expected to have witnessed bottom-line growth given its focus on the realization of price increases, ongoing benefits from integration-related synergies and positive shifts in product and channel mix.
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In the last reported quarter, the company’s earnings and net sales topped the Zacks Consensus Estimate by 76.2% and 1.9%, respectively. MillerKnoll, Inc. Price and EPS Surprise MillerKnoll, Inc. price-eps-surprise | MillerKnoll, Inc. Quote The consensus mark for net sales is pegged at $968.6 million, suggesting a decline of 9.2% from the year-ago reported figure of $1.07 billion. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report Grand Canyon Education, Inc. (LOPE) : Free Stock Analysis Report MillerKnoll, Inc. (MLKN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the last reported quarter, the company’s earnings and net sales topped the Zacks Consensus Estimate by 76.2% and 1.9%, respectively. The company does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat. Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report Grand Canyon Education, Inc. (LOPE) : Free Stock Analysis Report MillerKnoll, Inc. (MLKN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the last reported quarter, the company’s earnings and net sales topped the Zacks Consensus Estimate by 76.2% and 1.9%, respectively. However, the top and bottom lines declined year over year. The Zacks Consensus Estimate for the company's fiscal second-quarter 2024 earnings per share (EPS) has remained unchanged at 55 cents over the past 30 days.
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2023-12-12 00:00:00 UTC
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3 Stocks Leading the Quantum Computing Revolution
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In recent times, the fascination with quantum computing has surged, driven by technological advancements and a notable uptick in investments. More and more companies and institutes are performing a comprehensive exploration of the quantum-computing landscape and searching for use cases. Along these lines, investors are seeking to better understand quantum computing stocks and how they will affect various sectors.
For instance, there has been a lot of focus on the pharmaceutical industry in recent years. This industry has been affected by quantum computing through the recruitment of quantum scientists. They have set out to explore potential applications like quantum simulation in drug design.
Moreover, quantum technology holds significant implications for the financial-services sector. Particularly in the realm of security, signifying its potential to reshape how businesses and industries operate.
Here are three leading quantum computing stocks that could lead the next tech revolution.
International Business Machines (IBM)
Source: JHVEPhoto / Shutterstock.com
International Business Machines (NASDAQ:IBM) is probably the safest bet on quantum computing. And arguably one of the top quantum computation stocks one should own. IBM operates in various domains, including cloud computing, artificial intelligence and data analytics.
With a global presence, IBM provides solutions and services to enterprises, leveraging its expertise in cutting-edge technologies. Most recently, the company has increased its focus on AI and machine learning applications.
Through the IBM Quantum Network, the company collaborates with over 250 Fortune 500 companies, universities, labs. and startups. The network fosters partnerships and providing exclusive access to meetings and channels. In addition, it also facilitates collaborative efforts and close interactions with IBM’s internal experts.
Most recently, IBM introduced the IBM Quantum Heron, marking the first in a new series of utility-scale quantum processors. Engineered over four years, it boasts IBM’s highest performance metrics and lowest error rates among its quantum processors.
Furthermore, IBM unveiled the Quantum System Two, its inaugural modular quantum computer. The system is operational with three IBM Heron processors and associated control electronics, representing a significant step in IBM’s quantum-centric supercomputing architecture.
Quantum Computing (QUBT)
Source: Bartlomiej K. Wroblewski / Shutterstock.com
Quantum Computing (NASDAQ:QUBT) is the pure-play name to own in the quantum computing sector. QUBT aims to provide widely accessible and cost-effective quantum solutions for real-world business applications.
The company’s model is based on vendor-neutral software and ready-to-run systems. These offer business users immediate access to various quantum processing units and quantum technologies.
The acquisition of QPhoton, a quantum photonics innovation company, enhances QUBT’s capabilities with a series of quantum photonic systems (QPS). The integration of Quantum’s flagship software, Qatalyst, with QPhoton’s QPS positions the company to provide a widely accessible and cost-effective quantum solution.
Quantum achieved a significant milestone recently in commercializing its cutting-edge computing technologies, securing hardware sales of its Reservoir Computer and Quantum Random Number Generator. The Reservoir Computer reportedly exhibits exceptional speed and efficiency. These properties allows it to enhance data analysis and machine learning as well as other applications.
In Q3 2023, QUBT reported an earnings per share negative 11 cents. While this metric was up over 50% year-over-year, the aforementioned technological milestones are anticipated to bring a further boost to EPS, and QUBT’s future prospects overall.
Microsoft (MSFT)
Source: Asif Islam / Shutterstock.com
The Redmond-based tech titan has made significant efforts in the last decade to diversify its product family and become less dependent on the sales of software products. In addition to cloud, gaming and AI, Microsoft (NASDAQ:MSFT) has also made significant strides to improve its understanding of quantum computing technology.
For instance, the company works to highlight its work on Azure Quantum. Azure’s aim is to achieve scalability towards the realization of a general-purpose quantum computer. Along these lines, Azure Quantum applications are crafted to empower quantum chemists and scientists in their research endeavors.
More precisely, the tech giant says it is actively working to achieve quantum at scale by developing a stable qubit, and introducing a comprehensive, fault-tolerant quantum machine to Azure. To aid these efforts MSFT is working with a long-term approach through its lab at the University of Sydney. The lab is trying to develop quantum computers at the scale needed for applications with real impact. The project is headed by Dr. David Reilly, who has already developed a cryogenic quantum control platform.
On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.
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The post 3 Stocks Leading the Quantum Computing Revolution appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Engineered over four years, it boasts IBM’s highest performance metrics and lowest error rates among its quantum processors. In addition to cloud, gaming and AI, Microsoft (NASDAQ:MSFT) has also made significant strides to improve its understanding of quantum computing technology. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Stocks Leading the Quantum Computing Revolution appeared first on InvestorPlace.
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International Business Machines (IBM) Source: JHVEPhoto / Shutterstock.com International Business Machines (NASDAQ:IBM) is probably the safest bet on quantum computing. QUBT aims to provide widely accessible and cost-effective quantum solutions for real-world business applications. Quantum achieved a significant milestone recently in commercializing its cutting-edge computing technologies, securing hardware sales of its Reservoir Computer and Quantum Random Number Generator.
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Furthermore, IBM unveiled the Quantum System Two, its inaugural modular quantum computer. Quantum Computing (QUBT) Source: Bartlomiej K. Wroblewski / Shutterstock.com Quantum Computing (NASDAQ:QUBT) is the pure-play name to own in the quantum computing sector. Quantum achieved a significant milestone recently in commercializing its cutting-edge computing technologies, securing hardware sales of its Reservoir Computer and Quantum Random Number Generator.
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Along these lines, investors are seeking to better understand quantum computing stocks and how they will affect various sectors. Through the IBM Quantum Network, the company collaborates with over 250 Fortune 500 companies, universities, labs. Quantum Computing (QUBT) Source: Bartlomiej K. Wroblewski / Shutterstock.com Quantum Computing (NASDAQ:QUBT) is the pure-play name to own in the quantum computing sector.
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2023-12-12 00:00:00 UTC
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Devon Energy Is Great. Here's Why You Shouldn't Buy The Stock.
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https://www.nasdaq.com/articles/devon-energy-is-great.-heres-why-you-shouldnt-buy-the-stock.
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Devon Energy (NYSE: DVN) is an onshore U.S. energy producer with a 6.5% dividend yield. That may lead income investors to consider the stock, given that the average energy stock, using Vanguard Energy Index ETF (NYSEMKT: VDE) as a proxy, has a yield of just 3.5%. Only there's an important thing to consider about Devon Energy before you buy it if you are looking to live off of the income your portfolio generates.
Devon Energy has a lot of positives
One of the first things that investors need to understand about Devon Energy is that it is solely focused on the upstream portion of the oil industry. So unlike an integrated energy company such as ExxonMobil, which has assets across the energy value chain, Devon only owns oil and gas production assets. That's the upstream sector, and it means that energy prices are effectively the driving force behind the company's financial results.
Image source: Getty Images.
Oil and natural gas are commodities and are prone to dramatic and often rapid price changes. So Devon's financial results can sometimes swing pretty wildly. As an example, in the third quarter of 2023, Devon's adjusted earnings were $1.62 per share. That was up from $1.18 in Q2. That's a big change in just a single quarter and it was largely driven by a spike in oil prices. But it gets more interesting because in Q3 of 2022, Devon's adjusted earnings were $2.18 per share, with the difference again driven by the prices of the commodities it produces.
Devon's stock price will roughly track energy prices, as the chart below shows, which might actually be what you want as an investor. And Devon is a well-respected energy producer. Notably, it has a roughly $40-per-barrel break-even point, which is strong. And it has over 10 years' worth of drilling inventory ahead of it. So far, so good, assuming you want to own an energy stock. The potential problem is that lofty dividend yield.
DVN data by YCharts
Devon's earnings and dividends go hand in hand
What's not to like about a solid energy company with an above-average dividend yield? The answer is the dividend policy, which is variable. Over the past two years, the dividend has been as high as $1.55 per share in the third quarter of 2022 and as low as $0.49 in Q3 of 2023. The dividend yield that you see listed for the stock really isn't a reliable gauge of the income you can expect to receive. If you are looking to create a consistent income stream off of which you can live in retirement, Devon Energy is probably best avoided.
That said, there is one situation where it might make sense to own Devon Energy. The company's dividend will, more or less, track the price of energy. So, when oil and natural gas are rising, the dividend will likely increase, and vice versa. That means you will collect more income from Devon just as you are facing higher costs for things like gasoline and heating fuel. Thus, it could be considered a hedge against real-world energy costs.
Not the best option for most investors
Although Devon's ability to help hedge real-world energy costs with its variable dividend policy is interesting, most investors probably don't think about investing in this way. As such, despite the company being a perfectly good upstream energy stock, most folks will probably want to err on the side of caution in this volatile sector and pick an energy option that offers a less volatile income stream. An integrated energy giant like ExxonMobil would likely be a better starting point, as it has increased its dividend annually for over four decades.
Should you invest $1,000 in Devon Energy right now?
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. 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
Reuben Gregg Brewer 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.
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Only there's an important thing to consider about Devon Energy before you buy it if you are looking to live off of the income your portfolio generates. That's the upstream sector, and it means that energy prices are effectively the driving force behind the company's financial results. That means you will collect more income from Devon just as you are facing higher costs for things like gasoline and heating fuel.
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Devon's stock price will roughly track energy prices, as the chart below shows, which might actually be what you want as an investor. Not the best option for most investors Although Devon's ability to help hedge real-world energy costs with its variable dividend policy is interesting, most investors probably don't think about investing in this way. 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.
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That may lead income investors to consider the stock, given that the average energy stock, using Vanguard Energy Index ETF (NYSEMKT: VDE) as a proxy, has a yield of just 3.5%. Devon Energy has a lot of positives One of the first things that investors need to understand about Devon Energy is that it is solely focused on the upstream portion of the oil industry. 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.
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Devon's stock price will roughly track energy prices, as the chart below shows, which might actually be what you want as an investor. Not the best option for most investors Although Devon's ability to help hedge real-world energy costs with its variable dividend policy is interesting, most investors probably don't think about investing in this way. 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.
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2023-12-12 00:00:00 UTC
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Costco Wholesale (COST) Q1 2024 Earnings Call Transcript
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Image source: The Motley Fool.
Costco Wholesale (NASDAQ: COST)
Q1 2024 Earnings Call
Dec 14, 2023, 5:00 p.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good day, everyone, and welcome to the Costco Wholesale Corporation fiscal first-quarter 2024earnings call Today's call is being recorded and all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] I would now like to turn the call over to Richard Galanti, chief financial officer.
Please go ahead, sir.
Richard Galanti -- Chief Financial Officer
Thank you, Lisa, and good afternoon to everyone. I will start by stating that these discussions will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual events, results, and/or performance to differ materially -- excuse me -- differ materially from those indicated by such statements. The risks and uncertainties include, but are not limited to, those outlined in today's call as well as other risks identified from time to time in the company's public statements and reports filed with the SEC.
Forward-looking statements speak only as of the date they are made, and the company does not undertake to update these statements except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with GAAP. In today's release, we reported operating results for the first quarter of fiscal '24 the 12 weeks ended November 26th. Reported net income for the 12-week first quarter came in at $1.589 billion, or $3.58 per share, up from $1.364 billion, or $3.07 per share in the 12-week first quarter last year. This year's results included a tax benefit of $44 million, or $0.10 a share, related to stock-based compensation. Last year's results included a tax benefit of $53 million, or $0.12 per share, related to stock-based compensation and also included a charge of 93 million pre-tax, or $0.15 per share, primarily related to downsizing our charter shipping activities. Net sales for the first quarter were $56.72 billion, a 6.1% increase over last year's first quarter $53.44 billion.
Should you invest $1,000 in Costco Wholesale right now?
Before you buy stock in Costco Wholesale, 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 Costco Wholesale 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
Net sales were benefited by approximately one-half to 1% in the U.S. and worldwide from the shift of the fiscal calendar as a result of the 53rd week in fiscal 2023. The following comparable sales reflect comparable locations year over year and comparable retail weeks. In the U.S., reported 2% comp sales; ex-gas deflation and FX, 2.6%.
Canada reported 6.4%; ex-gas and FX, 8.2%. Other international reported 11.2; ex-gas and FX, 7.1%. For total company reported 3.8 and a 3.9 excluding those two items. E-commerce which was reported as a 6.3 came in at a 6.1 excluding FX.
Overall, for the first fiscal quarter, fresh foods were relatively strong once again with food and sundries right behind. Non-food showed improvement over the September, October, and November time frame as did e-comm sales. In terms of Q1 comp sales metrics, traffic or shopping frequency increased 4.7% worldwide and 3.6% in the United States. Our average transaction was down 9/10 of a percent worldwide and down 1.6% in the U.S. Foreign currencies relative to the U.S.
dollar positively impacted sales by approximately 4/10 of a percent, while gasoline price deflation negatively impacted sales by approximately 6/10 of a percent. I've gotten more than a few calls in the past few weeks as to how many pies we sold in the U.S. leading up to the Thanksgiving holiday. In the U.S., in the three days leading up to Thanksgiving, we sold 2.9 million of our famous pumpkin pies along with 1.3 million apple and pecan pies, so over 4 million pies in total during the three days. Back to the income statement here, and next on the income statements.
Membership fee income in the quarter, we reported $1.082 billion, or 1.91%. That's an 82 million or eight -- 8.2% increase and a four-basis-point increase over the first quarter last year. In terms of renewal rates, at first quarter end, our U.S. and Canada renewal rate stood at 92.8%, while the worldwide rate came in at 90.5%.
Both of these rates were up one-tenth of 1% from those numbers 12 weeks earlier at the end of the fourth quarter. Membership growth continues. We ended Q1 with 72.0 million paid household numbers, up 7.6% versus last year, and 129.5 million cardholders, up 7.1% with consistent growth throughout the quarters. At Q1 end, we had 33.2 million paid executive members, an increase of 939,000 during the 12 weeks since Q4 end. Executive members now represent a little over 46% of our paid members and a little over 73% of worldwide sales. Moving down the income statement, next is our gross margin.
Our reported gross margin in the fourth quarter was higher year over year by 43 basis points, coming in at -- excuse me -- coming in at 11.04%, up from Q1 of last year at 10.61. That 43-basis-point reported number ex-gas deflation would be plus 36 basis points. As I normally do here, we write down two columns and six line items. The first column is reported in the first quarter.
The second column is the margins excluding gas deflation. It's the year-over-year change in the first quarter. On our core -- core merchandise, plus three basis points reported, minus three basis points ex-deflation; ancillary and other businesses plus 24 reported and plus-22 ex-deflation -- gas deflation; 2% reward, lower year over year, minus four basis points reported and minus three ex-gas deflation; LIFO, plus three and plus-three; and other, plus-17 and plus-17, for a total, again, reported year over year up 43 basis points and ex-gas deflation up 36 basis points. Starting with the core.
Again, it was a -- total company, it was plus three and minus three reported an ex-gas deflation. In terms of core margin on their own sales, or core-on-core margins, were up by five basis points year over year. Ancillary and other business gross margin, again, higher by 24 and higher by 22 ex-deflation -- gas deflation. This increase was driven largely by gas and e-comm. Our 2% reward, higher by four, and higher by three ex-deflation, reflecting higher sales penetration coming from our executive members.
LIFO, plus three basis points. We had a $15 million LIFO credit in the first quarter of this year. This compared to a very small half-million-dollar charge in Q1 a year ago. And then the other line item, that 17 basis points to the positive, as was mentioned earlier, last year in Q1, there was a 17-basis-point impact from a $93 million pre-tax charge, primarily related -- primarily for the downsizing of our charter shipping activities. Moving on to SG&A. We reported SG&A of 9.45%, higher by 25 basis points than last year's 9.20%.
Again, in Q1, we'll write down the two columns, reported and without gas deflation: operations, minus 18 and minus 14 basis points, minus being -- meaning it's higher year over year; central, minus two and minus one; stock compensation, minus three and minus two; pre-opening expense, minus two and minus two, again for a total reported margin, higher minus 25 year over year. And -- I'm sorry, SG&A, not margin, 25; and without gas inflation by -- higher by 19 basis points. The core, again, was higher by 18 and higher by 14 excluding the impact from gas. This included 12 weeks of this past March as extra top-of-scale increase in our wages, which we -- which represents an estimated two-basis-point hit. And as of September 18th, we raised the starting wage in the U.S.
and Canada. That estimated impact from the -- those new wages to be roughly two basis points as well. Again, central nothing much to say other than it's one basis point higher excluding gas deflation; again with stock comps to minus two ex-gas deflation; and pre-opening, we did have a couple of more openings this year in the quarter than we did last year, and that was higher by two basis points. Below the operating income line, interest expense was 38 basis points -- $38 million this year, 4 million higher than last year's $34 million figure. Interest income and other for the quarter was higher by $107 million, coming in at 160 million this year versus 53 million last year.
This was driven largely by the increase in interest income, about 100 million of that 107 million, due to higher interest rates as well as higher cash balances. The -- the small additional impact was a favorable FX year over year. In terms of income taxes, our tax rate in the first quarter was 24.5%. This compares to 23% a year ago, or 1.5 percentage points higher this year than last year. The increase in our rate as of Q1 -- in Q1 is primarily attributable to lower benefit from the stock-based compensation from a year ago. Overall reported net income was up 16.5% year over year in the quarter.
A few other items of note, in terms of warehouse expansion, in the first quarter, we opened 10 locations including one relo, so a net of nine increases that those nine included eight in the U.S. and one in Canada. For the full year of fiscal '24, we estimate opening -- we're planning to open 33 locations, including two relos, so for a net increase of 31 new warehouses. That would be up from 23 that we opened in fiscal '23.
For Q2 fiscal '24, we plan four new locations, including our sixth building in China early in the calendar year. Regarding capital expenditures, the first-quarter capital expenditure spend was approximately 1.04 billion. We estimate that fiscal '24 capex will be in the $4.4 billion to $4.6 billion range. That's up from 4.3 billion we had in fiscal '23, reflecting a continued increase in the number of the expansion that we're doing.
In terms of e-commerce business, e-comm sales in Q1 ex-FX increased 6.1%, the first quarterly year-over-year increase in five fiscal quarters and trended well during the three reporting periods of September, October, and November. E-comm showed strength in several areas. And food, things like eGift cards, pet items, snack items, we're up in the mid-teens. Appliances, we're up year over year in the mid-20s.
TVs was actually in the high singles despite the challenges with other aspects of consumer electronics like computers. And tires were up in the low teens. So, overall, a pretty good showing there. As well, Costco Logistics enjoyed record-breaking deliveries in the first quarter of fiscal '24. We completed over 800,000 deliveries, which were up 17% versus the comparable quarter last year.
And some fun, wow items in the quarter in e-commerce, you've probably read about the fact that we're selling one-ounce gold bars. We sold over $100 million of gold during the quarter. We sold a Babe Ruth autographed index card for $20,000. And in addition to eGift cards on everything from restaurants to golf to airlines, we just, in the last couple of weeks, launched a Disney eGift card valued at $250 for $224.99. And for you, last-minute shoppers out there, there's a Mickey Mantle autographed 1951 rookie card in nearly perfect condition, and it's on sale -- sale online for $250,000.
Next, good progress continues to be made with our e-comm, mobile, and digital efforts. No big enhancements and changes to the site leading up to the holidays, mostly holiday prep. We did have 100% site availability during Cyber Week. And sales for the five Cyber Days, Thanksgiving, Black Friday, Saturday, Sunday, and Cyber Monday were up year over year in the mid-teens. Our app downloads during the quarter were 2.75 million, so total app downloads are -- now stand at 30.5 million, or a 10% increase during the quarter.
And that's after being over 40% increase in all of fiscal '23 versus the prior year. Our site traffic, approaching a half a billion, and just under 10% increase in the average order value being up about 2.5%. So, continue to make progress there. Next couple of comments regarding inflation.
Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range. A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related.
TVs, the average sale prices have been lower while units have been higher. And in talking to the buyers overall, our inventories and our SKU counts are in good shape across all channels. And so, far, we've had a good seasonal sell-through during the quarter. Lastly, as you saw in this afternoon's press release, we declared a $15 per share special cash dividend. This is our fifth special dividend in 11 years.
The total payout will be about just under $6.7 billion and will be funded using existing cash and not accompanied by any issuance of debt. The special cash dividend will be paid on January 12th to shareholders of record on December 28th. Finally, in terms of upcoming releases, we will announce our December sales results for the five weeks ending Sunday, December 31st, on Thursday, January 4th, after market close. With that, I will turn it back for Q&A to Lisa and be happy to answer any questions.
Questions & Answers:
Operator
Thank you. [Operator instructions] We'll take our first question from Michael Lasser with UBS.
Michael Lasser -- UBS -- Analyst
Good evening. Thank you so much for taking my question. Richard, you had indicated over the last year and a half or so that Costco had been raising prices faster than it had throughout its history. So, now, with -- with prices coming down, what is going to be the posture on passing along those savings? You already noted that inflation is flat to up 1%.
So, do you expect inflation, especially on the food side, as you get through the next couple of quarters?
Richard Galanti -- Chief Financial Officer
Well, talking to the buyers, we've seen -- you know, even during the quarter, we saw the trend toward that zero versus the one. But -- but at the end of the day, we don't -- the buyers are looking at three to six months. They have, on the fresh food side, commodities-wise, they haven't seen a lot. There are a few things that are up and a few things are down but no giant trend either way. Look, as you know us for a long time, we want to be the first to lower prices.
We're out there pressing our vendors as we see different commodity components come down and, certainly on the non-food side, as we saw shipping costs come down, things like that. And so, you -- probably a little more than less, but we'll have to wait and see. We don't know.
Michael Lasser -- UBS -- Analyst
And my follow-up is another point that you've made for a long time is that [Inaudible] is going to draft off the profitability of the broader retail sector. If you compare Costco's operating margin over the last 12 months versus where it was prior to the pandemic, its 300 to 400 basis points higher, and yet across retail, there are signs that profitability is coming down. So, now, what would seem in the ways of Costco either maintaining the existing rate of operating profit margins or even further growing from here? Is it just simply going to be a function of your ability to drive further sales growth in the consistently mid -- mid to single-digit range or better?
Richard Galanti -- Chief Financial Officer
Sure. Well, happily I'm able to say that that's -- you get to figure that one out. You know, at the end of the day, we're -- as you've known for a long time, we're a top-line company. We want to drive sales.
Certainly, as there's been deflation in certain products, we've seen units go up. You know, I'm looking at one example here. Just in the last month, $100-plus million of KS nut items where sales were flat to down a couple percent, while units were up in the mid-teens. That takes a little more labor to do. But at the end of the day, that's what we want to do: We want to drive people and frequency.
And I think as long as we see, you know, renewal rates continue to do what they do, as long as we see new signups continue to what they do, and hopefully, continue to get people to do, you know, convert to executive as well, and constantly driving the best value out there, we'll be in good stead. And so far, we've been able to do that, and I think we'll continue to be able to do that.
Michael Lasser -- UBS -- Analyst
Thank you very much and have a good holiday.
Richard Galanti -- Chief Financial Officer
You too.
Operator
We'll take our next question from Simeon Gutman with Morgan Stanley.
Jackie Sussman -- Morgan Stanley -- Analyst
Hi there. This is Jackie Sussman on for Simeon. Thank you so much for taking our question. The core-on-core margin was up modestly this quarter, and it seems like it moderated sequentially.
Looking forward to the balance of the year, it seems like the comparison gets a bit tougher. I guess how should we think about your core-on-core margin? Could it stay expanding and positive for the rest of the year? Or any color on that would be helpful. Thank you so much.
Richard Galanti -- Chief Financial Officer
You know, there's so many different moving parts to it. You know, as you've heard me say and I say in the last several years, we want to drive top line first. We're also pragmatic. We want -- we recognize we're for-profit company, and we'll continue to work hard to do both.
I wouldn't read much into any number going up a little or down a little, frankly. It fluctuates and there's lots of different components to it.
Jackie Sussman -- Morgan Stanley -- Analyst
Gotcha. Thanks so much. And just a quick follow-up, was the Black Friday and Cyber Monday gains that you had better than what you were expecting internally? Thanks so much.
Richard Galanti -- Chief Financial Officer
They were a little better than we were expecting, but we were ready for it.
Operator
We'll take our next question from Chuck Grom with Gordon Haskett.
Chuck Grom -- Gordon Haskett -- Analyst
Hey, how's it going, Richard? Good afternoon. I wanted to just dive into the core margins a little bit more and see if you could flush out some of the category color. If you said it, I missed it, but food, sundries, fresh, and on the hard lines parts of the business.
Richard Galanti -- Chief Financial Officer
Well, without giving you specific basis points, you know, food and sundries was slightly down -- very slightly down. Non-food was actually up. Some of that relates to the fact that we're comparing against last year when we had higher freight costs and trying to drive business. And fresh was down a little bit. So, nothing earth-shattering in either -- either of those directions.
Chuck Grom -- Gordon Haskett -- Analyst
OK, and then on the ancillary, up 22 basis points, I think we all get the gas component, but can you just talk about why the e-commerce margins were so much better in the quarter?
Richard Galanti -- Chief Financial Officer
I think -- well, first of all, part of just ancillary, in general, is a sales penetration issue without going into it that, you know, the fact that it showed more -- sometimes we look back over the quarters, they -- they go -- they go in opposite directions, the core on core and then the -- the other businesses. And so, given that you had higher sales penetration in both -- in -- in e-comm, that helped you. In e-comm, we had a lot of strength. We're doing a lot of big and bulky, and we're driving that business.
Chuck Grom -- Gordon Haskett -- Analyst
OK, great. And, you know, just bigger picture, you know, I just have a question on the change at the -- at the COC with Ron starting in a few weeks and, you know, replacing Craig who replaced Jim. You know, you've had the fortunate opportunity to work with all three. And I guess I'm curious what change, if any, you think we could see from a -- from an operating standpoint moving forward.
Richard Galanti -- Chief Financial Officer
Yeah, well, I always joke I'm up for review, so I'm going to say nice things. But no, at the end of the day, the reality is we're staying the course. You know, I remember questions were asked 12-plus years ago when Craig became president, and two years later, Jim retired and Craig became CEO and president. And what's going to -- you know, who can replace Jim, and I think the same questions asked today who can replace Craig, and it really is a seamless transition. You have somebody retiring that's been here 40-ish years and that's been in the business both on operations and merchandising for a successful number of years in both. And you've got Ron who's coming in, who started when he was 17 at a price club in Arizona, and he already has his 40-year gold patch, and again, 30-ish years in operations, a year in real estate traveling the world, and then seven -- or six or seven years in merchandising.
So, I think it is pretty seamless. And to see them -- the two of them work together over the last two years -- almost two years since Ron became president, it's very similar to what, you know, I saw during those two years when -- when Craig became president. And then, two years later, Jim retired and Craig took on the CEO role as well. And so, that's pretty much steady as she goes.
Chuck Grom -- Gordon Haskett -- Analyst
Gotcha. Great. Happy holidays. Thanks.
Richard Galanti -- Chief Financial Officer
Thanks.
Operator
We'll take our next question from Scott Mushkin with R5 Capital.
Scott Mushkin -- R5 Capital -- Analyst
Hey, Richard, I guess I just wanted to think about the potential clubs in the U.S. I know this comes up sometimes, but obviously, you added eight. And it just seems like there's maybe more runway even here in the U.S., and I wonder if you had any thoughts on that. And then, I had a quick follow-up.
Richard Galanti -- Chief Financial Officer
Sure. Well, you know, if -- if we were to open the 31 this year, that would be somewhere in the low 20s, 23, 24 in the U.S.. And now, recognize a few of those are business centers, which is we continue to add as well as regular warehouse -- you know, most of them are regular warehouses. And I would say that -- you know, I guess the story I'd share with you is, you know, six or eight years ago when it was roughly 60-40 or 70-30, U.S.
Canada versus the international -- other international, and we were asked what would it be by today, I'd say, well, by today, it'll be 50-50. Well, today, you're asking the same question, it's 60-40 or 70-30 today, what will it be -- and I think it'll trend that way over time. But we are finding more opportunities in the U.S. Clearly, our average sales volume per location is higher today than we would have expected ourselves, thankfully, you know, six, seven years ago, what would it be by now, and we are finding those opportunities.
So, I view that as good news. We still -- you know, we've got a lot of things going on to -- to drive international. But, you know, international'll be, you know, six or seven years -- this year, and -- and that opportunity to grow. Last year, international was nine -- nine or 10, and it's more of a timing issue.
Scott Mushkin -- R5 Capital -- Analyst
So, then my follow-up is around traffic and also, like, the growth you had in appliances and TVs. You're just kind of going in a different direction than a lot of people. So, what's driving the share gains in those categories? But also, are you guys doing anything specifically different to drive the traffic numbers you're seeing? Because I mean, they're pretty -- pretty amazing given, you know, the environment.
Richard Galanti -- Chief Financial Officer
Yeah, well, look, I always said I think the -- the biggest attribute of value is the lowest price on a given quantity and quality of a good or service and -- and then certainly add to that the trust that our members have. I think as it relates to specific things, like I pointed out, like appliances and even tires, it's value. We -- and the combination -- and, you know, having acquired, you know, Innovel three or four years ago, now called Costco Logistics. We're doing a lot of business there.
And I think we've gotten a better job -- better job of communicating what the value is, not just showing what the price of the exact item is at some of the other big retail competitors on some of these big items. But then, you add in delivery, take away the old -- use the installation delivery, take away the old product for disposition. it's significant savings. Go do a price check of some of those things compared to our competition, that's where you see the strength.
Scott Mushkin -- R5 Capital -- Analyst
Perfect. Thanks.
Operator
We'll take our next question from John Heinbockel with Guggenheim.
John Heinbockel -- Guggenheim Partners -- Analyst
So, Richard, I'm wondering if one of the things you may do differently here, we've talked about this before, is leaning into personalization more; and where you are on that -- on that journey, particularly with Ron coming in.
Richard Galanti -- Chief Financial Officer
Right. Well, you know, first order of business was fixing the foundation. We're in the middle of replatforming our e-commerce. It's not a big thing where we're going to split the switch one day.
We're bringing things over, and that's in progress. It was -- I think I mentioned last -- probably last quarter, it's a two-year roadmap on that, and we're halfway through that. And so, I -- I say very little so far. If we were -- you know, if we were in the second inning, maybe we're in the third inning now, but we -- a lot of the focus has been on, first of all, making sure doing small improvements.
We certainly got the, you know, the -- on the five-star rating, you know, got up north of 4.5 on that, and we're getting better at the site every time. But I think you would see personalization -- first of all, targeting and then personalization more over the next couple of years, honestly. And we're fine with that. We're -- the first order of business is getting the foundation right.
And we've made a lot of progress as -- I didn't spend a lot of time on this call talking about the -- the new things, the enhancements we've made to the mobile site and the e-comm site, but we've done a lot.
John Heinbockel -- Guggenheim Partners -- Analyst
And maybe as a follow-up, right, you talked about the international opportunity, and it's still, you know, very well underdeveloped. So, what the -- the hindrance to getting to, because you're in a lot of countries now, 15 to 20 annual openings? Maybe that's -- that's a big ask, but, you know, is it just quality of real estate? Because I would imagine, operationally, it's not a -- it's not a human resource issue. Is it -- is it purely a real estate issue?
Richard Galanti -- Chief Financial Officer
I would say it's a combination of issues. In some countries, I mean, if you look at Korea, Taiwan, where we have whatever, 15 or 16 locations in each country, very successful. It's a little harder to find the next location just from a real estate standpoint. You know, we -- if you look in Japan where we have plenty of future opportunity, we've got 30-plus now and -- but again, it's a little bit of real estate.
If you look at places like China or Spain, one of the challenges is you want -- you like to be able to ideally bring over more than a handful of people from the existing location to the new one. It's a very hands-on operation. I think one of the things that we felt we mentioned that we had success when we first opened our first unit in Shanghai is we had at least 60 or 70 people moved there from Taiwan for promotions and for interactions, not just in the office and the buying offices, but even in the key, you know, supervisor and manager positions within the warehouse. And so, it takes a little longer, and -- but we're -- we're working hard at it. But it's a very hands-on experience.
John Heinbockel -- Guggenheim Partners -- Analyst
Thank you.
Operator
We'll take our next question from Kelly Bania with BMO Capital Markets.
Kelly Bania -- BMO Capital Markets -- Analyst
Hi, Richard. Thanks for taking our questions. Just wanted to kind of follow up on Scott's question. I think your average sales per club in the U.S.
and Canada is around 300 million at this point. And just curious on the status of how many clubs are doing kind of well over that and are maybe in some need some of -- relief in the form of self-cannibalization and more clubs nearby. And follow-up as well on international, just as we think about the next maybe three to five years, are there any countries that might be disproportionately getting some more of the growth here?
Richard Galanti -- Chief Financial Officer
OK, what was the first part of the question again?
Unknown speaker
The average sale.
Kelly Bania -- BMO Capital Markets -- Analyst
Yeah average per club.
Richard Galanti -- Chief Financial Officer
Average sales, yeah. The average, I don't know, I don't have the numbers in front of me, but I know, in fiscal '23, we had something like 25 or so locations that did over 400 million and another 160 or so that did 300 million to 400 million. Those are huge numbers. And certainly, as we get to 350-plus -- and one of them, by the way, they did over 400 -- did a few million, over 600 million. So -- and so, generally, when it starts getting -- when it starts having a three in front of it, certainly a 350 million, we want to start looking to see what we can do to -- to -- to cannibalize it, frankly, and to have more growth in that market.
And so, you know, hopefully, that's our -- one of our bigger problems and challenges that we have more of those each year. So, I think that'll continue. Again, if I look back five, eight years ago, even assuming whatever inflation number you want to assume, I think we've done a little better than that in terms of the sales volumes. And so, that's good news for us that we'll -- we'll continue to do that. Internationally, again, I'm just looking at the -- the map of where we are. Certainly, you know, we only have four locations in Spain.
We actually have added a few on a base of 30-plus in the U.K. We think we have more opportunity in Mexico. In Japan, where we have something in the low 30s, certainly it's done well there, and there's many more markets in population there that we can go to. Australia, you know, is whatever, two-thirds -- there's a little under two-thirds the size of Canada where we have 105 or so locations.
And in Australia, we have 15. Yeah, 15. I'm not suggesting we're going to have two-thirds of 105 there anytime soon. It takes us, you know, 35-plus years to get there in Canada, and -- but we think that those are the opportunities.
It's not like we're looking for a lot of other new countries at this juncture. We've done a few new countries, though, single locations like in Sweden and Iceland and Auckland, all being somewhat managed buying-wise and somewhat operationally by a host country. In the case of Scandinavia, by the U.K.; in the case of Auckland, by Australia.
Kelly Bania -- BMO Capital Markets -- Analyst
Thank you.
Operator
We'll take our next question from Scot Ciccarelli with Truist.
Scot Ciccarelli -- Truist Securities -- Analyst
Good afternoon, guys. So, Richard, last quarter, you talked a bit about Costco Next, and I guess my question is how big of an impact is that program having on your e-comm sales at this point, number one. Number two, kind of related to that, any change in your vetting of what vendors operate on that program, just thinking about the quality control aspect. Thank you.
Richard Galanti -- Chief Financial Officer
Well, first of all, it's -- it's still very small relative to our company. And the fact is -- is that the Costco net sales currently are not in our sales. It's -- it's there, we get a commission. So, it's kind of like 3P, if you will, 3P sales.
And at some juncture, some of their rules -- accounting rules of where you can include it in sales based on what risk and what ownership level you have in the items. But at this juncture, those sales, it's more of a -- the, you know, market value and just the commission in our number. You know, in terms of how we vet, we do it the same way we vet items. We want items that make sense to provide value.
And we have a team that -- that is here that are vetting -- vetting every each and every one of those. I think we're up to about 70 -- about 65 current suppliers on there, and we'll certainly have many more as we go forward.
Scot Ciccarelli -- Truist Securities -- Analyst
So, presumably, if that program keeps growing, should that be a natural gross margin driver for you over time? I know it's small now, but if you're just collecting the commission, you know, presumably, that's kind of 100% margin, right?
Richard Galanti -- Chief Financial Officer
Essentially, yes, much like the travel business.
Scot Ciccarelli -- Truist Securities -- Analyst
Got it. OK. Thank you.
Unknown speaker
Mostly.
Operator
We'll take our next question from Greg Melich with Evercore ISI.
Greg Melich -- Evercore ISI -- Analyst
Hi, thanks. Richard, wanted to follow up on the membership fee hike as I think, now, we're in extra time, and I wonder how much does the growth and mix and executive membership driving that high single-digit growth. Is that what means that you don't have to increase it and you could keep waiting, or is there something else?
Richard Galanti -- Chief Financial Officer
I think it's just us. I mean, you know, again, if I look at the -- if you -- if you ask the question, what are the variables we would look at, we would want to look at strong renewal rates, strong new signups, strong loyalty, and we have all that. So, I think it's -- the question is we -- we haven't needed to do it. We like providing extreme value. Certainly, while we've gone a little longer than the average increase, we feel we certainly have driven more value to the membership.
So, you know, I'll use my standby answer, my pat answer, it's a question of when, not if. But at this juncture, we feel pretty good about what we're doing.
Greg Melich -- Evercore ISI -- Analyst
And a follow-up on inflation, I just want to make sure I got that right. You said zero to one for the quarter. Did it trend toward zero? Did we exit near the bottom? And -- and you mentioned some categories that were deflationary. Which ones are stubborn in terms of inflation, where it's hardest to get it out?
Richard Galanti -- Chief Financial Officer
Which inflation -- which -- which categories are stubborn in inflation?
Greg Melich -- Evercore ISI -- Analyst
Yeah, yeah, where you get that.
Richard Galanti -- Chief Financial Officer
CPG brands.
Greg Melich -- Evercore ISI -- Analyst
Mostly? All the branded packaged stuff?
Richard Galanti -- Chief Financial Officer
There wasn't a big trend. I think, at the end, it was a little lower than the beginning but not a big trend.
Greg Melich -- Evercore ISI -- Analyst
OK. So, it's not like we exited zero; we're still slightly positive.
Richard Galanti -- Chief Financial Officer
Right. But recognize, the life of charge is an inventory cost-of-sales charge.
Unknown speaker
[Inaudible]
Richard Galanti -- Chief Financial Officer
Right. The zero to one is from the beginning of the fiscal year -- oh, now, it's from -- I'm sorry, the beginning -- the zero to one is versus a year ago.
Greg Melich -- Evercore ISI -- Analyst
A year over year. Got it.
Richard Galanti -- Chief Financial Officer
Yeah, yeah.
Greg Melich -- Evercore ISI -- Analyst
OK, great. And then, just last, what is the auto-renewal rate now?
Unknown speaker
[Inaudible]
Richard Galanti -- Chief Financial Officer
In the U.S., it's around 60%.
Greg Melich -- Evercore ISI -- Analyst
Perfect, thanks. Have a great holiday, guys.
Richard Galanti -- Chief Financial Officer
You too.
Operator
We'll take our next question from Rupesh Parikh with Oppenheimer.
Rupesh Parikh -- Oppenheimer and Company -- Analyst
Good afternoon and thanks for taking my question. So, I just wanted to go to operating expense growth. So, operating expense growth is still high. Would you expect the growth rates to moderate once you lap that March wage increase? And then, anything unusual within that line item that's still driving a pretty high growth?
Richard Galanti -- Chief Financial Officer
There's not a lot unusual. I think it gets back to that question of low inflation, which creates a little bit more of a challenge, right? You know, my -- and again, that was a very extreme example I gave you on nuts, but you know, when you had a zero -- slight, you know, 0% to 2% decline in sales and a 14% increase in units, you got more labor involved, more hours stock on the shelf. I mean that's, you know, the 40,000-foot level, and that's an extreme example, but I think, overall, it is sales base. You should also remember -- if you remember, going back to fiscal '19, in the first part of fiscal '20 before COVID, you know, our SG&A percent was -- for all of '19, it was a 10 04. In the first quarter of 2020, it was a 10 34.
And for the whole year, it was 10 04, for both of those two years. And we used to think to ourselves, "Will we ever be able to get it back below 10?" And in 2022, which was the kind of month seven through '18, if you will, that 12-month period after that full fiscal year for us of COVID, we were -- we reported an 8 88 for that year. So, even at the 9 45 that we just reported, we're still quite a bit lower than we had been historically, a function of a lot of things, including higher sales productivity and all that. So, I think we're doing pretty well. I think, certainly, that's the -- that's the challenge: How do we -- how do we -- how do we reduce that and how do we -- how do we manage that? And certainly, the biggest way to manage it is driving more sales.
Rupesh Parikh -- Oppenheimer and Company -- Analyst
Great, and then maybe just one follow-up question. So, just curious how you're feeling about the health of your consumer. So, it was interesting to hear that TVs were -- you know, did well this past quarter.
Richard Galanti -- Chief Financial Officer
Look, I think when we're asked that question, we're fortunate to answer it that we're, first of all, looking at the consumer through somewhat, you know, rose-colored glasses here. The -- you know, we have enjoyed great value. And again, we're convinced it's value. We've gotten, I think on -- on the -- on the margin, there's a few extra things that that we've done. We've improved the site of the website.
We've gotten a little better communicating stuff. Not completely, but I think overall, it's -- and we've been good merchants. I think the merchants have done a great job of bringing in new stuff and -- and not being -- and not being shy when we see an industry category down a lot that we can still -- if we're driving people in, we've got a better chance of getting them to buy something.
Rupesh Parikh -- Oppenheimer and Company -- Analyst
Thank you. Happy holidays.
Richard Galanti -- Chief Financial Officer
Thanks.
Operator
We'll take our next question from Oliver Chen with TD Cowen.
Tom Nass -- TD Cowen Research -- Analyst
Hi, this is Tom Nass on for Oliver. Just a quick question on the trend of Kirkland relative to last year. If you could just remind us how that's trending maybe across categories, and then if you have any notable callouts, any recent innovations. Just curious if this is essentially driving any efficiencies in supplier negotiations, that could position Costco for stronger gross margin ahead.
Richard Galanti -- Chief Financial Officer
Well, I would say allowing us to get better deals, which means lower prices. But, you know, look, I think we're -- Kirkland Signature relative to non-gas sales is in the high 20s. And I think it was probably a good year ago when inflation was in the eight and nine range, if you will -- if you remember. And we talked about that, year over year, we saw probably the biggest increase penetration of KS at Costco. It was -- it was one -- 1.5 percentage points when, historically, it had been 25 to 50 basis points a year.
I think we're back to that, but we've maintained that higher level. And -- and we're back to seeing smaller increases in penetration every year, but nonetheless, still driving that business. But we've got -- yeah, I think that helps with some of the deflationary stuff. Certainly, with KS stuff, we're closer to the supplier. We're not the only -- we're the only customer buying that item, and – and -- and we can drive a little bit more business.
And so, I think it just continues to work that way for us.
Tom Nass -- TD Cowen Research -- Analyst
Great. And then, just a quick follow-up on any notable behavioral trends you've seen in consumer shopping this holiday season.
Richard Galanti -- Chief Financial Officer
Some colleague in my room said they're buying gold, but no, that's actually online, mostly. But no, I think -- again, I think the traffic thing is the thing that we're happily surprised about that we're continuing to drive people in on an increasing basis, you know. We -- we know we benefited during those -- kind of those two years. Kind of, you know, March, April of '20 to March, April of '22, the kind of the two years of COVID, we benefited in many ways from more members and more volumes. And we've not only kept it; we're continuing now to add to those levels.
So, we feel very fortunate in that regard.
Tom Nass -- TD Cowen Research -- Analyst
Thanks.
Richard Galanti -- Chief Financial Officer
One of my colleagues here just mentioned that discretionary merchandise trends are getting a little better, and that's not only on big ticket but in general non-food kind of stuff. I think that -- that corresponds with my comment earlier that we feel good about, you know, the seasonal -- how we've done seasonally.
Tom Nass -- TD Cowen Research -- Analyst
OK, great. Thanks.
Operator
We'll take our next question -- thank you. We'll take our next question from Mark Astrachan with Stifel.
Mark Astrachan -- Stifel Financial Corp. -- Analyst
Yeah, thanks. Good afternoon, everyone. I guess I wanted to ask on -- on the Kirkland products, specifically maybe on the CPG that you mentioned, how have pricing -- or how has prices trended on those versus the branded products? Have you seen any deviation there given your closure, or are you able to lower prices? I suppose, to the extent that that has happened, do you notice any more market share changes within those CPG categories?
Richard Galanti -- Chief Financial Officer
I think -- I think it's slightly -- it's deflationary -- it's a little more deflationary in the KS than in the CPG, but we're -- we're -- which drives more value to KS, frankly. But we're seeing some -- some -- our ability to work with our CPG suppliers as well but just a little stronger ability to do that with KS.
Mark Astrachan -- Stifel Financial Corp. -- Analyst
Got it.
Richard Galanti -- Chief Financial Officer
And then -- and it is -- again, a comment in the room here, we've had -- it's allowed us to do some new item introductions on the KS side as well.
Mark Astrachan -- Stifel Financial Corp. -- Analyst
Great. And then, just following up on the last question, anything you can -- you can call out among the newer memberships cohorts in terms of renewal rates versus the average?
Richard Galanti -- Chief Financial Officer
Generally speaking, you know, if you compare -- everybody's always concerned, I remember, 10-plus years ago, people would ask, "How are you going after millennials?" And then, it's how we get after the next gen or whatever -- the Gen Z's or whatever. At the end of the day, when we look at the different cohorts, if you just change the names, the curve seems to be about the same in terms of getting new younger members. They buy less, and they buy more as they get older into that 40- to 55-year-old sweet spot. And I don't know in terms of -- in terms of renewal rates, I think the rates are -- our overall rates are improving. So, I think we're probably doing a better job there.
Certainly, things like -- frankly, auto renewal help that as well.
Mark Astrachan -- Stifel Financial Corp. -- Analyst
Got it. Thank you. Happy holidays.
Richard Galanti -- Chief Financial Officer
Same to you.
Operator
We'll take our next question from Corey Tarlowe with Jeffries.
Corey Tarlowe -- Jefferies -- Analyst
Hi, good afternoon. Thank you for taking my questions. Richard, you mentioned about the wage increases that you've taken recently. I'm curious to get your thoughts about the wage increases that you've taken within the context of now the lower inflation that you're seeing, as well as what could be potential deflation further ahead. So, I'm curious about the ability for Costco to maybe maintain a more nimble margin structure amid what could be some volatility on the pricing side.
Richard Galanti -- Chief Financial Officer
You know, we -- frankly, we look at the wages in a vacuum, and we want to do as much as we can for our employees. And -- and certainly, you know, there were several increases starting with the -- the -- the front-line worker premium during the initial year of COVID. We kept half of that in there, which -- you know, we kept one of those $2 an hour in there, which was like $400 -- 400 million a year. Again, we've also benefited from stronger sales and productivity, so we were able to afford that.
But we look at them independently, and we'll continue to do that -- to -- to look at it. And to the extent inflationary pressures are down, that means there's probably a little less inflationary pressure on wages. But we give -- you know, over half of our employees are top of scale, and they're getting increases, irrespective of some of the extra things we've talked about every March. And then, as you go from a new employee over the first 9,000 or 10,000 hours, you're getting constant increases that are more -- significantly more.
Corey Tarlowe -- Jefferies -- Analyst
Understood. And then, just piggybacking off of that, and I understand it may be difficult to attribute a cause-and-effect relationship to this, but do you think that perhaps the moderating inflation that we've seen in the need-based categories like fresh and food and sundries may have unlocked a little bit of extra wallet to spend in the non-food category and may have driven some of the momentum that you've seen In categories like TVs and others?
Richard Galanti -- Chief Financial Officer
I think it can't hurt, you know, even with gas prices have come down a little bit. You know, that's top of mind every week when somebody fills up their tank. So, those things help. I think -- I'm sure, on a macro basis, that's the case, but it's a guess on our part.
Corey Tarlowe -- Jefferies -- Analyst
Understood. Great. Thank you very much and best of luck.
Richard Galanti -- Chief Financial Officer
Thank you.
Operator
We'll take our next question from Dean Rosenblum with Bernstein.
Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst
Hey, Richard, guys. Thanks for taking my questions. There's really two big debates that clients are asking us about. First one is on gross margins and in particular the potential for a gross margin impact from mix shift back toward things like appliances and TVs, which are notoriously lower gross margin, at least in the marketplace, versus fresh and food and sundries.
As you see the -- the sort of big-ticket discretionary starting to come back a little bit, do you expect any overall impact on gross margins from that mix shift away from food and sundries to big ticket discretionary?
Richard Galanti -- Chief Financial Officer
You know, first of all, our -- our margin range is so much more compacted than traditional retail -- you know, different categories of traditional retail. I mean, if you think about it, we have, what, a 12%, 13% gross margin?
Unknown speaker
[Inaudible]
Richard Galanti -- Chief Financial Officer
Eleven? I'm thinking marks up, you know. And -- and in theory, it ranges from zero to 15. In reality, it's -- there's a very few things that are below five, and a lot of things hover around the 8% to 12% range. And -- and -- and so, I don't think it's as big an impact to us in terms of those mix changes.
And, you know, and I got to say -- I got to say it's always -- that old saying it's always something -- there's always something that hurts you and there's another thing that helps you. And it's -- it's a really -- it's a mixture.
Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst
So, true. And then, the other -- the other big debate that clients are asking about is the relative profitability of new stores versus existing stores. And there's sort of two themes there. One is new U.S.
versus existing U.S., and then the relative profitability of new stores internationally. I was wondering if you could speak to that a bit.
Richard Galanti -- Chief Financial Officer
Well, first of all, you know, when you're looking, like, at an ROI, the I -- the denominator on an older building is a lower I, you know. If -- 10 years ago, the typical building in the United States land, you know, property, equipment, and building and fixtures, I'm shooting from the hip here, was -- was 30 million to 35 million, and now it's 45 million to 50 million. So, you've got a different I. But generally speaking, when we -- when -- when we look at the ROI of each of our eight U.S. regions, our two Canadian regions, new units come in and start a little lower and get up there over time.
You'll have some outliers because of some units that are 30 and 40 years old even with the I increase because we expanded the unit and upgraded it and remodeled it. The fact of the matter is -- is those higher volumes really shine through there. On an international standpoint, we've always, I think, talked about the fact that there's a few different things that the -- the ROI and some of these other countries tend to be a little higher. The return on sales tends to be even more -- even higher than that in some of these countries because a combination of -- very little related to gross margin.
Some related to -- to membership fees, some related to wages, and some related to benefits -- health benefits. You know, U.S. healthcare costs dwarf every other country that we're in.
Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst
Got it. Thanks so much. I appreciate it. Good holidays and thanks for the pie.
Richard Galanti -- Chief Financial Officer
Thank you.
Operator
We'll take our next question from Joe Feldman with Telsey Advisory Group.
Joe Feldman -- Telsey Advisory Group -- Analyst
Hey, guys. Thanks for taking the question. I wanted to first ask on, executive member penetration seems like it continues to inch higher. And I'm just wondering how you guys think about that, and, like, how high should that be? I mean, presumably, you'd want everybody to be an executive member, but is there, like, kind of a natural level where you think it can still go from here beyond the 46%?
Richard Galanti -- Chief Financial Officer
I think, well, there's -- there's always going to be another country or two we add. You need a certain number -- in our view, we've always done it after there's 15 or so warehouses in the country, so that'll add to a little bit. But no, we -- I think some of the increase, it's kind of like getting up to that asymptotic line when you -- you know, one of the things that drove it in the last few years, one, we have done a better job in the last several years of -- of -- of selling it to you, as well as auto renewal. When people come in now or sign up online, they're signing up, do they want to put their credit or debit card in there, and they can opt out, they can opt into -- to doing it online, do -- do a lot of renewal. So -- so, I think those things have pushed it along with us, you know, being so wonderful, but I think you'll still see come up a little bit, but probably, that rate of increase will slow over time.
Joe Feldman -- Telsey Advisory Group -- Analyst
Got it. OK. And then, maybe just a quick follow-up. Anything to talk about on shrink? Because I know that, you know, there was an issue with strength even for you guys at one point.
And I know you guys have cracked down on, you know, making sure members are showing their cards when they walk in the store, and obviously, that when you leave with your goods, they're -- they're checking your receipts. But anything we should think about with regard to shrink going forward and recent trends?
Richard Galanti -- Chief Financial Officer
Nothing -- thankfully, nothing at all.
Joe Feldman -- Telsey Advisory Group -- Analyst
OK, good.
Richard Galanti -- Chief Financial Officer
It's really, you know -- you know, I think all we talked about was, you know, a combination of as we went into some self-checkout over the last several years and then perhaps more recent things that you read about in the paper, we get less impacted by the latter as well. Maybe we saw a couple of basis point delta upward on a very low number of basis points to start with. So, we're fortunate in that regard.
Joe Feldman -- Telsey Advisory Group -- Analyst
Got it. Thank you and happy holidays, guys.
Richard Galanti -- Chief Financial Officer
Same to you. Thank you. Thank you.
Operator
We'll take our next question from Laura Champine with Loop Capital.
Laura Champine -- Loop Capital -- Analyst
Thanks for taking my question. I wanted to dig in a little bit more into some of those numbers on the column. The ancillary profit improvement, I think that's where you're -- I'm just wondering what drove that. And on the operations line, it sounds like that -- that pressure in SG&A didn't come mostly from wages, and I'm wondering where it did come from.
Unknown speaker
[Inaudible]
Richard Galanti -- Chief Financial Officer
Yeah. Yeah, yeah, on the ancillary line, it's gas and e-comm, and it's a combination of increased sales penetration and increased margins within those businesses. You know, the thing about gas is, I think everybody out there that has gas stations, what we have found is we've been able to see improved profitability, not just in the last quarter or two, but over the last few years -- last three to five years, improved profitability in gas because others are making more and we're allowed to make a little more. When we do our competitive price shops on gas, which we do weekly at every gas station we operate with our -- with neighboring competitive gas stations, our value proposition is actually increased -- increased number of cents per gallon than we've ever seen.
So, that's been, if you will, a win-win for us. On the -- on the e-comm side, I think driving more sales has helped us in the margins there as well.
Laura Champine -- Loop Capital -- Analyst
Thanks. And then, just on the operations and wages.
Richard Galanti -- Chief Financial Officer
On the wages -- yeah, on the wages, well, we pointed out -- I pointed out on the call, I think there's, like, four or so basis points in total from those two distinct increases. We do other increases, like, over half of our employees are top of scale. They get an increase every March. That's -- that's significant as well -- significant relative to basis points when you have, you know, lower sales -- lower sales figures.
Everything -- and it's -- the rest of it is all the other line items, like energy costs and the like.
Laura Champine -- Loop Capital -- Analyst
Got it. So, most of the pressure is probably coming from wages, not just those two discrete callouts you had?
Richard Galanti -- Chief Financial Officer
It's more than half. I don't have the exact figures with me.
Laura Champine -- Loop Capital -- Analyst
Got it. Thank you.
Operator
Thank you. And there are no further questions at this time. I'd like to turn the call back over to Richard Galanti for any additional or closing remarks.
Richard Galanti -- Chief Financial Officer
Well, thank you, Lisa, and thank you, everyone on the call. We're around to answer questions, and have a happy holiday. And I think this is a record time of finishing this call. So, enjoy the holidays.
Thank you very much.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Richard Galanti -- Chief Financial Officer
Michael Lasser -- UBS -- Analyst
Jackie Sussman -- Morgan Stanley -- Analyst
Chuck Grom -- Gordon Haskett -- Analyst
Scott Mushkin -- R5 Capital -- Analyst
John Heinbockel -- Guggenheim Partners -- Analyst
Kelly Bania -- BMO Capital Markets -- Analyst
Unknown speaker
Scot Ciccarelli -- Truist Securities -- Analyst
Greg Melich -- Evercore ISI -- Analyst
Rupesh Parikh -- Oppenheimer and Company -- Analyst
Tom Nass -- TD Cowen Research -- Analyst
Mark Astrachan -- Stifel Financial Corp. -- Analyst
Corey Tarlowe -- Jefferies -- Analyst
Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst
Joe Feldman -- Telsey Advisory Group -- Analyst
Laura Champine -- Loop Capital -- Analyst
More COST analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool has positions in and recommends Costco Wholesale. 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.
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If you compare Costco's operating margin over the last 12 months versus where it was prior to the pandemic, its 300 to 400 basis points higher, and yet across retail, there are signs that profitability is coming down. Richard Galanti -- Chief Financial Officer Yeah, well, look, I always said I think the -- the biggest attribute of value is the lowest price on a given quantity and quality of a good or service and -- and then certainly add to that the trust that our members have. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
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On our core -- core merchandise, plus three basis points reported, minus three basis points ex-deflation; ancillary and other businesses plus 24 reported and plus-22 ex-deflation -- gas deflation; 2% reward, lower year over year, minus four basis points reported and minus three ex-gas deflation; LIFO, plus three and plus-three; and other, plus-17 and plus-17, for a total, again, reported year over year up 43 basis points and ex-gas deflation up 36 basis points. Again, in Q1, we'll write down the two columns, reported and without gas deflation: operations, minus 18 and minus 14 basis points, minus being -- meaning it's higher year over year; central, minus two and minus one; stock compensation, minus three and minus two; pre-opening expense, minus two and minus two, again for a total reported margin, higher minus 25 year over year. Operator [Operator signoff] Duration: 0 minutes Call participants: Richard Galanti -- Chief Financial Officer Michael Lasser -- UBS -- Analyst Jackie Sussman -- Morgan Stanley -- Analyst Chuck Grom -- Gordon Haskett -- Analyst Scott Mushkin -- R5 Capital -- Analyst John Heinbockel -- Guggenheim Partners -- Analyst Kelly Bania -- BMO Capital Markets -- Analyst Unknown speaker Scot Ciccarelli -- Truist Securities -- Analyst Greg Melich -- Evercore ISI -- Analyst Rupesh Parikh -- Oppenheimer and Company -- Analyst Tom Nass -- TD Cowen Research -- Analyst Mark Astrachan -- Stifel Financial Corp. -- Analyst Corey Tarlowe -- Jefferies -- Analyst Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst Joe Feldman -- Telsey Advisory Group -- Analyst Laura Champine -- Loop Capital -- Analyst More COST analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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On our core -- core merchandise, plus three basis points reported, minus three basis points ex-deflation; ancillary and other businesses plus 24 reported and plus-22 ex-deflation -- gas deflation; 2% reward, lower year over year, minus four basis points reported and minus three ex-gas deflation; LIFO, plus three and plus-three; and other, plus-17 and plus-17, for a total, again, reported year over year up 43 basis points and ex-gas deflation up 36 basis points. Again, in Q1, we'll write down the two columns, reported and without gas deflation: operations, minus 18 and minus 14 basis points, minus being -- meaning it's higher year over year; central, minus two and minus one; stock compensation, minus three and minus two; pre-opening expense, minus two and minus two, again for a total reported margin, higher minus 25 year over year. Operator [Operator signoff] Duration: 0 minutes Call participants: Richard Galanti -- Chief Financial Officer Michael Lasser -- UBS -- Analyst Jackie Sussman -- Morgan Stanley -- Analyst Chuck Grom -- Gordon Haskett -- Analyst Scott Mushkin -- R5 Capital -- Analyst John Heinbockel -- Guggenheim Partners -- Analyst Kelly Bania -- BMO Capital Markets -- Analyst Unknown speaker Scot Ciccarelli -- Truist Securities -- Analyst Greg Melich -- Evercore ISI -- Analyst Rupesh Parikh -- Oppenheimer and Company -- Analyst Tom Nass -- TD Cowen Research -- Analyst Mark Astrachan -- Stifel Financial Corp. -- Analyst Corey Tarlowe -- Jefferies -- Analyst Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst Joe Feldman -- Telsey Advisory Group -- Analyst Laura Champine -- Loop Capital -- Analyst More COST analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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So, Richard, last quarter, you talked a bit about Costco Next, and I guess my question is how big of an impact is that program having on your e-comm sales at this point, number one. And for the whole year, it was 10 04, for both of those two years. Operator [Operator signoff] Duration: 0 minutes Call participants: Richard Galanti -- Chief Financial Officer Michael Lasser -- UBS -- Analyst Jackie Sussman -- Morgan Stanley -- Analyst Chuck Grom -- Gordon Haskett -- Analyst Scott Mushkin -- R5 Capital -- Analyst John Heinbockel -- Guggenheim Partners -- Analyst Kelly Bania -- BMO Capital Markets -- Analyst Unknown speaker Scot Ciccarelli -- Truist Securities -- Analyst Greg Melich -- Evercore ISI -- Analyst Rupesh Parikh -- Oppenheimer and Company -- Analyst Tom Nass -- TD Cowen Research -- Analyst Mark Astrachan -- Stifel Financial Corp. -- Analyst Corey Tarlowe -- Jefferies -- Analyst Dean Rosenblum -- Bernstein Investment Research and Management -- Analyst Joe Feldman -- Telsey Advisory Group -- Analyst Laura Champine -- Loop Capital -- Analyst More COST analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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713087.0
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2023-12-12 00:00:00 UTC
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3 Best Stocks to Buy Now, 12/15/2023, According to Top Analysts
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DCOMP
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https://www.nasdaq.com/articles/3-best-stocks-to-buy-now-12-15-2023-according-to-top-analysts
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Which stocks are best to buy now? According to Top Wall Street Analysts, the three stocks listed below are Strong Buys. Each stock received a new Buy rating recently and has a significant upside as well.
To find more stocks like these, take a look at TipRanks’ Analyst Top Stocks tool. It shows you a real-time list of all stocks that have been recently rated by Top-ranking Analysts.
Here are today’s top stock picks, according to analysts. Click on any ticker to thoroughly research the stock before you decide whether to add it to your portfolio.
Crocs (NASDAQ:CROX) – Crocs is an American footwear company. Yesterday, Stifel Nicolaus analyst Jim Duffy reiterated a Buy rating on the stock with a price target of $132. Interestingly, seven out of the eight Top Analysts who rated the stock gave it a Buy. Collectively, their 12-month price targets imply an upside of nearly 20%.
Coterra Energy (NYSE:CTRA) – This company engages in the development, exploitation, and exploration of oil and gas properties. Yesterday, Wells Fargo analyst Roger Read upgraded the stock’s rating to Buy with a price target of $30 per share. In the last three months, eight out of the ten Top Analysts covering the stock have rated it a Buy. Collectively, their 12-month price targets imply an upside of nearly 28%.
Opera (NASDAQ:OPRA) – Opera is a provider of web browsers for Windows, iOS, and Linux computers, and mobile apps. Yesterday, B.Riley Financial analyst Naved Khan initiated coverage on the stock with a Buy rating and a price target of $20. Interestingly, all three Top Analysts who recently rated the stock gave it a Buy. Taken together, their 12-month price targets imply an upside of about 58%.
Who are the Top Analysts?
TipRanks ranks financial analysts according to the success rates of their ratings and the average return on each of their ratings. The Top Analysts have each earned a five-star ranking, thanks to the accuracy and profitability of their ratings over time.
See real-time analyst rankings and learn more about the performance of Top Analysts on TipRanks’ Top Wall Street Analysts page.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Yesterday, Stifel Nicolaus analyst Jim Duffy reiterated a Buy rating on the stock with a price target of $132. Coterra Energy (NYSE:CTRA) – This company engages in the development, exploitation, and exploration of oil and gas properties. Yesterday, Wells Fargo analyst Roger Read upgraded the stock’s rating to Buy with a price target of $30 per share.
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According to Top Wall Street Analysts, the three stocks listed below are Strong Buys. Interestingly, all three Top Analysts who recently rated the stock gave it a Buy. See real-time analyst rankings and learn more about the performance of Top Analysts on TipRanks’ Top Wall Street Analysts page.
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Yesterday, B.Riley Financial analyst Naved Khan initiated coverage on the stock with a Buy rating and a price target of $20. Interestingly, all three Top Analysts who recently rated the stock gave it a Buy. See real-time analyst rankings and learn more about the performance of Top Analysts on TipRanks’ Top Wall Street Analysts page.
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Which stocks are best to buy now? Interestingly, seven out of the eight Top Analysts who rated the stock gave it a Buy. Who are the Top Analysts?
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713088.0
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2023-12-12 00:00:00 UTC
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3 No-Brainer Healthcare Stocks to Buy Right Now
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DCOMP
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https://www.nasdaq.com/articles/3-no-brainer-healthcare-stocks-to-buy-right-now
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Earlier in the pandemic, coronavirus products boosted the revenue and the stock prices of companies selling those products. But these days, those products actually have done just the opposite, dragging down performance.
It's important to keep in mind, though, that some of these players offer (or are set to offer) revenue growth well beyond the coronavirus portfolio. So right now, with their shares trading at bargain prices, they've become no-brainer buys.
Which companies am I talking about? Coronavirus testing giant Abbott Laboratories (NYSE: ABT) and vaccine leaders Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE). Let's take a closer look at each of these stocks as possible buys right now.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Labs became a coronavirus testing giant during the pandemic. But this company has four strong units that continue to deliver growth, even as demand for coronavirus testing declines.
The healthcare giant's diagnostics, medical devices, established pharmaceuticals, and nutrition businesses each grew in the double digits in the most recent quarter if we exclude coronavirus tests from the calculations. And these businesses together, excluding COVID tests, generated sales growth of more than 13% to $10 billion.
The company also has grown profit into the billions of dollars over time, thanks to its strengths across these businesses, and remains a giant in the area of diabetes care. Abbott sells one the of the leading continuous glucose monitors, the FreeStyle Libre, which reported a sales increase of 30% in the recent quarter.
You'll like Abbott for its solid earnings track record, its four strong businesses -- and one other thing -- its dividend. Abbott is a Dividend King, meaning it's increased payments for more than 50 straight years, so you can count on this company for passive income growth.
Trading at 24x forward earnings estimates, this stock is a must-buy right now.
2. Moderna
Moderna took center stage as it brought its coronavirus vaccine from the drawing board to market in less than a year -- and the vaccine generated billions of dollars in earnings as the biotech's first and only product. Those earnings helped Moderna build up cash and fund other programs in the pipeline.
Today, even though vaccine demand is on the decline, Moderna's future looks bright. First, vaccine demand isn't what it was at the height of the pandemic but isn't disappearing. Seasonal vaccination should represent significant recurring revenue for Moderna. And the company is developing a combined COVID/flu candidate that may become a popular product as it could interest the population that generally goes for an annual flu shot.
Second, Moderna may not be a single-product company for long. The biotech says it aims to launch 15 new products within the coming five years. Even if it only wins approval for a few, it still could deliver impressive growth.
That's why, trading at 8.5x forward earnings estimates, Moderna looks like a bargain you don't want to miss.
3. Pfizer
Like Moderna, Pfizer sells one of the leading coronavirus vaccines -- and Pfizer sells a billion-dollar coronavirus treatment, Paxlovid. Also, like Moderna, Pfizer faces declines in sales of these products. On top of that, some of Pfizer's other blockbusters outside of the coronavirus program are facing patent expirations later this decade -- and this should lead to a drop in sales.
Why should you buy this stock? Because Pfizer is prepared to compensate for those losses -- and go on to grow over the long term, thanks to new products. The company aims to launch 19 new products or indications during an 18-month period, and has already released 13. So it's well on its way to meeting the goal.
Pfizer also pays a dividend, with a yield that beats that of the S&P 500, and has put the focus on dividend growth. So, you can count on this company for passive income while you wait for the return to earnings growth.
For all of this, 18x forward earnings estimates seems a reasonable price to pay, making this stock a no-brainer to add to your portfolio right now.
Should you invest $1,000 in Abbott Laboratories right now?
Before you buy stock in Abbott Laboratories, 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 Abbott Laboratories 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
Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories and Pfizer. The Motley Fool recommends Moderna. 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.
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The healthcare giant's diagnostics, medical devices, established pharmaceuticals, and nutrition businesses each grew in the double digits in the most recent quarter if we exclude coronavirus tests from the calculations. The company also has grown profit into the billions of dollars over time, thanks to its strengths across these businesses, and remains a giant in the area of diabetes care. Abbott is a Dividend King, meaning it's increased payments for more than 50 straight years, so you can count on this company for passive income growth.
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Coronavirus testing giant Abbott Laboratories (NYSE: ABT) and vaccine leaders Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE). Pfizer Like Moderna, Pfizer sells one of the leading coronavirus vaccines -- and Pfizer sells a billion-dollar coronavirus treatment, Paxlovid. Before you buy stock in Abbott Laboratories, 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 Abbott Laboratories wasn't one of them.
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Moderna Moderna took center stage as it brought its coronavirus vaccine from the drawing board to market in less than a year -- and the vaccine generated billions of dollars in earnings as the biotech's first and only product. Pfizer Like Moderna, Pfizer sells one of the leading coronavirus vaccines -- and Pfizer sells a billion-dollar coronavirus treatment, Paxlovid. Before you buy stock in Abbott Laboratories, 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 Abbott Laboratories wasn't one of them.
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Earlier in the pandemic, coronavirus products boosted the revenue and the stock prices of companies selling those products. But this company has four strong units that continue to deliver growth, even as demand for coronavirus testing declines. Before you buy stock in Abbott Laboratories, 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 Abbott Laboratories wasn't one of them.
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671187f7-b75e-4856-97b7-4d735f6f2862
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713089.0
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2023-12-12 00:00:00 UTC
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RTL to sell Dutch subsidiary to DPG Media for 1.1 bln euros in cash
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https://www.nasdaq.com/articles/rtl-to-sell-dutch-subsidiary-to-dpg-media-for-1.1-bln-euros-in-cash
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BERLIN, Dec 15 (Reuters) - European broadcaster RTL Group said on Friday that it would sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media in a deal worth 1.1 billion euros ($1.21 billion) that will also see the two companies enter into a strategic partnership.
"The sale to DPG Media is the best strategic option for RTL Nederland and all its stakeholders" after RTL's planned acquisition of rival Talpa was blocked by Dutch competition authorities in January, said RTL Group CEO Thomas Rabe.
Subject to regulatory approvals, the all-cash transaction is expected to close around mid-2024 and will result in a profit of approximately 800 million euros, according to the RTL Group.
As part of the sale, the companies will form a strategic partnership in the areas of advertising and streaming technology, international advertising sales and content.
"Together with our leading TV brands VTM and RTL Belgium, we will be able to build a group that has the necessary scale to invest in the digital transformation of television," said DPG Media Group executive chairman Christian Van Thillo.
DPG Media controls several national and regional Dutch newspapers and also owns the top-selling Donald Duck comic, as well as a number of popular women's magazines.
($1 = 0.9098 euros)
(Reporting by Klaus Lauer and Toby Sterling, Writing by Miranda Murray, Editing by Rachel More)
((Miranda.Murray@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.
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BERLIN, Dec 15 (Reuters) - European broadcaster RTL Group said on Friday that it would sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media in a deal worth 1.1 billion euros ($1.21 billion) that will also see the two companies enter into a strategic partnership. Subject to regulatory approvals, the all-cash transaction is expected to close around mid-2024 and will result in a profit of approximately 800 million euros, according to the RTL Group. DPG Media controls several national and regional Dutch newspapers and also owns the top-selling Donald Duck comic, as well as a number of popular women's magazines.
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BERLIN, Dec 15 (Reuters) - European broadcaster RTL Group said on Friday that it would sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media in a deal worth 1.1 billion euros ($1.21 billion) that will also see the two companies enter into a strategic partnership. "The sale to DPG Media is the best strategic option for RTL Nederland and all its stakeholders" after RTL's planned acquisition of rival Talpa was blocked by Dutch competition authorities in January, said RTL Group CEO Thomas Rabe. "Together with our leading TV brands VTM and RTL Belgium, we will be able to build a group that has the necessary scale to invest in the digital transformation of television," said DPG Media Group executive chairman Christian Van Thillo.
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BERLIN, Dec 15 (Reuters) - European broadcaster RTL Group said on Friday that it would sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media in a deal worth 1.1 billion euros ($1.21 billion) that will also see the two companies enter into a strategic partnership. "The sale to DPG Media is the best strategic option for RTL Nederland and all its stakeholders" after RTL's planned acquisition of rival Talpa was blocked by Dutch competition authorities in January, said RTL Group CEO Thomas Rabe. "Together with our leading TV brands VTM and RTL Belgium, we will be able to build a group that has the necessary scale to invest in the digital transformation of television," said DPG Media Group executive chairman Christian Van Thillo.
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BERLIN, Dec 15 (Reuters) - European broadcaster RTL Group said on Friday that it would sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media in a deal worth 1.1 billion euros ($1.21 billion) that will also see the two companies enter into a strategic partnership. "The sale to DPG Media is the best strategic option for RTL Nederland and all its stakeholders" after RTL's planned acquisition of rival Talpa was blocked by Dutch competition authorities in January, said RTL Group CEO Thomas Rabe. Subject to regulatory approvals, the all-cash transaction is expected to close around mid-2024 and will result in a profit of approximately 800 million euros, according to the RTL Group.
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713090.0
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2023-12-12 00:00:00 UTC
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34% of Cathie Wood's Ark Innovation ETF Is Invested in Just 4 Stocks
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https://www.nasdaq.com/articles/34-of-cathie-woods-ark-innovation-etf-is-invested-in-just-4-stocks
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The Ark Innovation ETF (NYSEMKT: ARKK) managed by Cathie Wood is one of the most closely followed actively managed funds in the world.
Wood rose to prominence in 2020 when all six of Ark Invest's active exchange-traded funds (ETFs) saw their prices soar more than 100%. The flagship Ark Innovation ETF climbed 148.7% that year. Wood and her team seek out companies developing disruptive technologies in the areas of genomics, automation, artificial intelligence (AI), and finance, among others, for the Ark Innovation fund.
But just four stocks out of 33 total holdings make up the bulk of the fund's investments. These are Ark Invest's biggest bets. And if Wood is right, these four could turn out to become much bigger companies than they already are today. Let's find out a bit more about these four stocks.
1. Coinbase: 10.6% of holdings
Coinbase Global (NASDAQ: COIN) has grown to become Ark Invest's biggest holding across several of its ETFs. The company is the leading U.S.-based cryptocurrency exchange, and it's a big beneficiary of the increased adoption of Bitcoin.
As a result, its stock price tends to move in coordination with the price of Bitcoin. Bitcoin's price has climbed over 163% so far in 2023, including a recent rally this month, pushing the price higher by 16%. Investors responded, pushing Coinbase stock 289% higher so far this year, including a 63% increase since reporting better-than-expected third-quarter earnings.
Coinbase has improved its net losses in 2023, producing positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). That's due in large part to reducing costs. Management slashed its operating expenses by 34% year over year in the third quarter. Meanwhile, revenue grew just 8%, including a 21% decline in transaction revenue. It's unlikely Coinbase can sustain its improvements in profits going forward.
Ark Invest has been selling off some of its shares of Coinbase recently, not necessarily because it's soured on the long-term prospects of the company, but because the stock's recent rally has pushed the weighting so high.
2. Roku: 8.4% of holdings
Roku (NASDAQ: ROKU) is a favorite of Cathie Wood and her teams in the connected-TV and streaming space. Ark analysts published a financial model last year, indicating their belief that Roku stock could reasonably reach $605 per share by 2026. With the stock currently trading at just over $100 per share, Ark still sees a lot of upside.
There's a lot to like about Roku. It's seeing strong momentum in active user growth and streaming hours on its platform. And while revenue growth has been slow amid a weak advertising spend environment, the growing and increasingly engaged user base is a stronger indication of long-term potential for the company.
After falling below EBITDA profitability in 2022, the company returned to the black last quarter on the back of cost-cutting and restructuring. Management is committed to full-year EBITDA profitability for 2024.
With the recent strength in Roku's stock price, Ark has been selling shares. Still, it remains one of its biggest holdings across multiple funds, and with expectations for the stock price to climb significantly higher in the long run, it'd be a big surprise if Ark changed channels midstream.
3. UiPath: 7.8% of holdings
UiPath (NYSE: PATH) is not just one of the biggest holdings in the Ark Innovation ETF, it's one of the biggest holdings in all six of Ark's active ETFs. The team seems to believe UiPath's robotic process automation (RPA) has the potential to span just about every industry, making it the biggest AI stock in Ark's holdings.
UiPath benefits from more and more businesses looking to cut overhead. With fewer employees, businesses need to automate more tasks. UiPath steps in, uses its AI to find tasks that can be automated, and then implements a solution for the business. As a result, it saw its annual recurring revenue improve 24% year over year last quarter.
That's a notable slowdown from the 30% growth in recurring revenue UiPath produced in 2022, and management expects a further slowdown in the fourth quarter. That said, the growing scale of the business has led to substantial improvements in operating margin, and the company should be able to produce stronger margins by implementing more AI solutions for each customer.
It does face much bigger competitors in the space, including Microsoft, which has its finger on the pulse of AI through OpenAI and its Azure cloud computing business. But if it can fend off its bigger competitors, it's in a strong position to keep growing at a rapid pace.
Ark has been trimming its position in UiPath as the stock price climbs. But considering it's still held across every single one of its funds, the managers' commitment to the stock can't be questioned.
4. Tesla: 7.5% of holdings
Tesla (NASDAQ: TSLA) has long been a favorite of Cathie Wood and the team at Ark Invest. It was previously the fund's No. 1 holding, but has now fallen to fourth despite strong price performance in 2023. Wood sold off a significant number of shares this summer following the stock's strong run, and shares have since pulled back slightly in price.
Still, Wood's belief that Tesla is at the forefront of autonomous vehicle technology is unwavering. She sees the biggest challenge for solving autonomous driving as collecting enough data, and basically, every Tesla vehicle in operation is feeding data into the company's algorithms.
Ark's financial model published earlier this year sees Tesla shares climbing to $2,000 per share by 2027 for its base case, with an upside of $2,500 per share. The model is heavily reliant on Tesla launching autonomous vehicles in the very near future and a robotaxi service using those vehicles.
Musk has continuously fallen short of his promises of delivering fully autonomous vehicles. Many believe Tesla's approach to eschew lidar and mapping systems like other autonomous vehicle companies will ultimately result in it falling short of achieving full autonomy capable of providing a robotaxi service.
Meanwhile, Tesla has been susceptible to pricing pressure and the macroeconomic environment has curbed new auto sales. That's seen in Tesla's margins, which have come under pressure this year.
Nonetheless, Wood believes Tesla has the foundational technology that will transform transportation. In fact, she recently told CNBC she thinks it will remain a top-five holding for the Ark Innovation fund for a long time.
Should you invest $1,000 in Ark ETF Trust-Ark Innovation ETF right now?
Before you buy stock in Ark ETF Trust-Ark Innovation ETF, 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 Ark ETF Trust-Ark Innovation ETF 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
Adam Levy has positions in Bitcoin, Microsoft, and Roku. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, Microsoft, Roku, Tesla, and UiPath. 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.
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And while revenue growth has been slow amid a weak advertising spend environment, the growing and increasingly engaged user base is a stronger indication of long-term potential for the company. Still, it remains one of its biggest holdings across multiple funds, and with expectations for the stock price to climb significantly higher in the long run, it'd be a big surprise if Ark changed channels midstream. Many believe Tesla's approach to eschew lidar and mapping systems like other autonomous vehicle companies will ultimately result in it falling short of achieving full autonomy capable of providing a robotaxi service.
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Ark analysts published a financial model last year, indicating their belief that Roku stock could reasonably reach $605 per share by 2026. Ark's financial model published earlier this year sees Tesla shares climbing to $2,000 per share by 2027 for its base case, with an upside of $2,500 per share. Before you buy stock in Ark ETF Trust-Ark Innovation ETF, 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 Ark ETF Trust-Ark Innovation ETF wasn't one of them.
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Still, it remains one of its biggest holdings across multiple funds, and with expectations for the stock price to climb significantly higher in the long run, it'd be a big surprise if Ark changed channels midstream. UiPath: 7.8% of holdings UiPath (NYSE: PATH) is not just one of the biggest holdings in the Ark Innovation ETF, it's one of the biggest holdings in all six of Ark's active ETFs. Before you buy stock in Ark ETF Trust-Ark Innovation ETF, 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 Ark ETF Trust-Ark Innovation ETF wasn't one of them.
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Coinbase: 10.6% of holdings Coinbase Global (NASDAQ: COIN) has grown to become Ark Invest's biggest holding across several of its ETFs. UiPath steps in, uses its AI to find tasks that can be automated, and then implements a solution for the business. Tesla: 7.5% of holdings Tesla (NASDAQ: TSLA) has long been a favorite of Cathie Wood and the team at Ark Invest.
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2023-12-12 00:00:00 UTC
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Meet the 1 Stock Warren Buffett Is Virtually Guaranteed to Be Buying Throughout 2024
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https://www.nasdaq.com/articles/meet-the-1-stock-warren-buffett-is-virtually-guaranteed-to-be-buying-throughout-2024
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For the better part of the past six decades, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett has been running circles around Wall Street. The Oracle of Omaha, as he's affably known, has overseen a nearly 20% annualized return in his company's Class A shares (BRK.A) since taking the CEO role in the mid-1960s. On an aggregate basis, we're talking about a gain of 4,355,584%, as of the closing bell on Dec. 8.
When you double up the annualized total return of the benchmark S&P 500 over nearly 60 years, you're going to get noticed. It's why professional and everyday investors closely monitor Berkshire Hathaway's quarterly 13F filings to uncover which stocks the Oracle of Omaha and his team of investors have been buying and selling.
As we prepare to close the curtain on 2023 in roughly two weeks, it's readily apparent that one highly regarded stock is a virtual lock to be purchased by Warren Buffett throughout 2024.
Image source: The Motley Fool.
Buffett and his team are piling into some familiar names
A quick look at Berkshire Hathaway's 13Fs over the past couple of years reveal some popular names that Buffett and his investing lieutenants, Todd Combs and Ted Weschler, have piled into.
Tech stock Apple (NASDAQ: AAPL) is an ideal example of a great business that Buffett and his aides have the utmost faith in. Apple accounts for nearly half of Berkshire's $365.5 billion investment portfolio.
Since opening a position in Apple during the first quarter of 2016, Buffett and his team have added to their stake on numerous occasions. In fact, Buffett stated during Berkshire's annual shareholder meeting in May that Apple is "a better business than any we own." It's an incredibly strong statement, given that Berkshire owns well-regarded insurer GEICO and highly successful railroad BNSF, among roughly five dozen other businesses.
Buffett's belief that Apple is Berkshire's best business likely has to do with the company's innovation-driven operating model. It's consistently No. 1 in U.S. smartphone market share, and it has a loyal base of consumers that were drawn in by its physical products (iPhone, Mac, and iPad). To boot, CEO Tim Cook is overseeing a natural evolution of the company's operating model that will have Apple focused on higher-margin subscription services.
The Oracle of Omaha is also, undoubtedly, a huge fan of Apple's capital-return program. The largest publicly traded company by market cap in the U.S. is returning $15 billion a year to shareholders via its dividend, and it's repurchased more than $600 billion worth of its common stock since the start of 2013. These buybacks are increasing Berkshire's stake in Apple without Buffett or his "lieutenants" having to lift a finger.
Another familiar name Warren Buffett and his team have been piling into is energy stock Occidental Petroleum (NYSE: OXY). Since the start of 2022, Berkshire Hathaway has added more than 228 million common shares of Occidental. This is on top of the $10 billion in preferred stock in Occidental (yielding 8%) Buffett's company received in 2019.
Having close to $13 billion invested in Occidental common stock is a pretty clear indication that Buffett and his closest investing confidants believe the spot price of oil will remain elevated or head even higher. Russia's ongoing war with Ukraine, along with multiple years of reduced capital investment by energy majors because of the COVID-19 pandemic, has led to tight oil supply worldwide. Anytime the supply of a major commodity is constrained, there's a good likelihood the price of said commodity will increase.
What's noteworthy about Occidental Petroleum compared to other integrated oil and gas operators is that it generates most of its revenue from its drilling operations. This is to say that its operating performance is considerably more sensitive to changes in the spot price of crude oil than other integrated energy companies. If the spot price of crude oil remains high, Occidental will disproportionately benefit from it.
Image source: Getty Images.
Meet the one stock Warren Buffett is virtually guaranteed to buy in 2024
Over the past two years, Apple and Occidental Petroleum have been regularly purchased stocks for Buffett and his team. But if I had to wager on which stock is likeliest to be bought by Warren Buffett in 2024, neither of these two companies would top the list.
Interestingly enough, the stock Warren Buffett is virtually guaranteed to buy in 2024 isn't going to be found on Berkshire Hathaway's quarterly 13Fs. Instead, you'll find evidence of these purchases toward the tail end of the company's quarterly operating results. That's right -- the company that's a practical lock to be bought by Buffett in 2024 is... Berkshire Hathaway.
Prior to July 17, 2018, Berkshire Hathaway had a share repurchase policy in place that only allowed for buybacks if Berkshire's stock fell to or below 120% of book value (i.e., no more than 20% above stated book value). At no point for well over a half-decade prior to this date did Berkshire Hathaway's stock reach this threshold. As a result, Buffett was never able to pull the trigger on any buybacks.
On July 17, 2018, Berkshire's board passed new measures that allowed its dynamic duo -- Warren Buffett and the late, great Charlie Munger -- to get off the proverbial bench and repurchase their company's stock more frequently. In order for buybacks to take place:
Berkshire Hathaway needed to have at least $30 billion in combined cash, cash equivalents, and U.S. Treasuries on its balance sheet; and
Warren Buffett and Charlie Munger needed to agree that Berkshire's stock was intrinsically cheap.
Admittedly, I'm not entirely certain who, if anyone, will step in and play the sidekick role to Warren Buffett when it comes to share repurchases moving forward. What I do know is that the Oracle of Omaha has overseen the repurchase of more than $72 billion worth of Berkshire Hathaway stock since July 2018. Further, Buffett has bought back his own company's stock for 21 consecutive quarters, through September 2023.
As of the end of the most recent quarter, Berkshire's cash position ballooned to an all-time record $157.2 billion. With little in the way of value tickling the fancy of Buffett, Weschler, or Combs, it's a virtual guarantee that at least some of this cash will be deployed to repurchase Berkshire's common stock in 2024.
To add, Berkshire Hathaway doesn't pay a dividend. The way Buffett regularly rewards his long-term shareholders is through buybacks. Reducing the number of outstanding shares over time should increase the ownership stakes of Berkshire's shareholders, much in the same way that Apple's buyback program has grown Berkshire's stake in the company.
Furthermore, reducing the outstanding share count of a company with steady or growing net income can increase earnings per share (EPS) over time. This helps Berkshire Hathaway become even more fundamentally attractive to value-seeking investors.
Should you invest $1,000 in Berkshire Hathaway right now?
Before you buy stock in Berkshire Hathaway, 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 Berkshire Hathaway 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 7, 2023
Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool recommends Occidental Petroleum. 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.
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As we prepare to close the curtain on 2023 in roughly two weeks, it's readily apparent that one highly regarded stock is a virtual lock to be purchased by Warren Buffett throughout 2024. Russia's ongoing war with Ukraine, along with multiple years of reduced capital investment by energy majors because of the COVID-19 pandemic, has led to tight oil supply worldwide. On July 17, 2018, Berkshire's board passed new measures that allowed its dynamic duo -- Warren Buffett and the late, great Charlie Munger -- to get off the proverbial bench and repurchase their company's stock more frequently.
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Meet the one stock Warren Buffett is virtually guaranteed to buy in 2024 Over the past two years, Apple and Occidental Petroleum have been regularly purchased stocks for Buffett and his team. Prior to July 17, 2018, Berkshire Hathaway had a share repurchase policy in place that only allowed for buybacks if Berkshire's stock fell to or below 120% of book value (i.e., no more than 20% above stated book value). Before you buy stock in Berkshire Hathaway, 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 Berkshire Hathaway wasn't one of them.
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Meet the one stock Warren Buffett is virtually guaranteed to buy in 2024 Over the past two years, Apple and Occidental Petroleum have been regularly purchased stocks for Buffett and his team. In order for buybacks to take place: Berkshire Hathaway needed to have at least $30 billion in combined cash, cash equivalents, and U.S. Treasuries on its balance sheet; and Warren Buffett and Charlie Munger needed to agree that Berkshire's stock was intrinsically cheap. Before you buy stock in Berkshire Hathaway, 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 Berkshire Hathaway wasn't one of them.
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Meet the one stock Warren Buffett is virtually guaranteed to buy in 2024 Over the past two years, Apple and Occidental Petroleum have been regularly purchased stocks for Buffett and his team. Should you invest $1,000 in Berkshire Hathaway right now? Before you buy stock in Berkshire Hathaway, 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 Berkshire Hathaway wasn't one of them.
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2023-12-12 00:00:00 UTC
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Tesla Stock Can Soar in 2024 if It Does These 3 Things
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https://www.nasdaq.com/articles/tesla-stock-can-soar-in-2024-if-it-does-these-3-things
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Tesla (NASDAQ: TSLA) stock has crushed the market so far this year. However, it's still down over 40% from its all-time high during a time when many other mega-cap growth stocks, like Microsoft, Apple, and Nvidia, are making new all-time highs.
Tesla has what it takes to continue its hot streak going into 2024. But it has to execute across some key aspects of its business. Here's what to watch next year and what the electric car stock needs to do to justify a higher valuation.
Image source: Getty Images.
Managing margins
In hindsight, it's easy to see why Tesla hit an all-time high in early 2022. The once-unprofitable company shocked the investing world with quarter after quarter of consistent profits paired with high revenue growth and high margins.
Tesla carried its torrid growth pace into 2022 -- posting a banner year across the board. But Tesla's margins have since come down, and its top- and bottom-line growth rates have slowed.
Over the last year, Tesla's trailing-12-month revenue has grown by only 17.8%, while its net income is down 14.3%, and its operating margin has fallen by over a third to 11.2%. The following chart does a good job of showing Tesla's massive growth, followed by this year's deceleration.
TSLA Operating Margin (TTM) data by YCharts
Price cuts and lower growth contributed to Tesla's margin decline this year. However, its margins could be lower in the future as Tesla tries to unlock entry into the coveted mass-market electric vehicle market, which would shift the company's strategy toward higher volume, lower-priced vehicles.
In its third-quarter earnings presentation, the company reiterated its goal of a 50% long-term production compound annual growth rate. It would be a worthy trade-off if Tesla achieves solid revenue and earnings growth at the expense of a lower margin.
In the short term, be on the lookout to see if Tesla can improve its operating margin. Longer-term, the challenge will be finding the sweet spot between revenue growth and profitability.
Monetizing AI and robotics
Tesla has done an impeccable job of becoming a profitable and (generally) high-growth electric vehicle company. But it has yet to monetize its artificial intelligence (AI) and robotics ventures -- mainly fully autonomous self-driving vehicles.
For several years now, Tesla has been flaunting its self-driving software. It got to the point where Tesla was thinking far too long-term and had to reel itself in and focus on generating positive cash flow from the Model 3 and then the Model Y. Thankfully, Tesla did that. But the company has a history of throwing money at projects that either pan out later than expected or don't pan out at all.
Tesla has an extremely attractive portfolio of AI and robotics ideas. Cracking the code on vehicles that can safely drive themselves would open the door to electric robotaxis -- an idea integral to the ultra-bullish investment thesis held by Cathie Wood and others.
While you could argue that Tesla could have made a lot more money if it hadn't spent so many resources on self-driving, the long-tail potential is too appealing to ignore. If you invest in Tesla, you have to accept that this will simply be a part of the company's budget and that it may not prove to be a worthwhile investment for some time.
Preserving the balance sheet
Tesla has done an excellent job of keeping debt off of its balance sheet and relying on cash flows to fund both short- and long-term investments. The company has $15.9 billion in cash and equivalents on its balance sheet and just $3.7 billion in long-term debt.
It is impressive that Tesla can keep a largely debt-free balance sheet despite being in the capital-intensive auto industry and supporting expensive long-term projects. One of the biggest things Tesla investors should watch in the coming years is how the quality of the balance sheet responds if there is a prolonged slowdown in demand or if Tesla tries to invest even during a downturn in the business cycle. In other words, what is the extent of the damage to the balance sheet if expenses stay the same or increase, but cash flows decline?
The stock market can be overly focused on the short term. If Tesla barrels ahead full throttle on its multidecade plans even as growth slows, its performance deteriorates, and its leverage increases, then the stock could sell off. Even if investing throughout the market cycle is the right long-term move, it's vital to recognize that the market may be unwilling to think so long-term during a broad sell-off.
Know what you're getting into before you invest
If you invest in Tesla, it's important to understand that the company will probably stick to its long-term plans even at the expense of its short-term performance and the wishes of Wall Street. This mindset is why Tesla stock can suffer steep sell-offs and meteoric gains. When the stars align, Tesla looks like it can do no wrong. But when Tesla stubbornly pursues its goals no matter the market cycle, it can look reckless and borderline irresponsible.
Tesla is one of those companies where understanding the long-term investment thesis and what can move the stock in the short term are equally important. That way, you aren't caught off guard if the stock moves to the upside or the downside.
If Tesla improves its top- and bottom-line growth rates, bolsters its margins, charts a path toward monetizing AI and robotics, and maintains or improves its rock-solid balance sheet, the stock could surpass a new all-time high in 2024. But there's also a good chance that Tesla needs more time to return to the growth that investors have come to expect.
In sum, Tesla has the makings of an excellent long-term investment and is certainly worth holding or even buying a small position in. But there's no rush to dive in headfirst and buy the stock hand over first at this time.
Where to invest $1,000 right now
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for two decades, Motley Fool Stock Advisor, has more than tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Tesla made the list -- but there are 9 other stocks you may be overlooking.
See the 10 stocks
*Stock Advisor returns as of December 11, 2023
Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, 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.
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Cracking the code on vehicles that can safely drive themselves would open the door to electric robotaxis -- an idea integral to the ultra-bullish investment thesis held by Cathie Wood and others. It is impressive that Tesla can keep a largely debt-free balance sheet despite being in the capital-intensive auto industry and supporting expensive long-term projects. If Tesla barrels ahead full throttle on its multidecade plans even as growth slows, its performance deteriorates, and its leverage increases, then the stock could sell off.
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However, it's still down over 40% from its all-time high during a time when many other mega-cap growth stocks, like Microsoft, Apple, and Nvidia, are making new all-time highs. The once-unprofitable company shocked the investing world with quarter after quarter of consistent profits paired with high revenue growth and high margins. If Tesla improves its top- and bottom-line growth rates, bolsters its margins, charts a path toward monetizing AI and robotics, and maintains or improves its rock-solid balance sheet, the stock could surpass a new all-time high in 2024.
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One of the biggest things Tesla investors should watch in the coming years is how the quality of the balance sheet responds if there is a prolonged slowdown in demand or if Tesla tries to invest even during a downturn in the business cycle. Tesla is one of those companies where understanding the long-term investment thesis and what can move the stock in the short term are equally important. If Tesla improves its top- and bottom-line growth rates, bolsters its margins, charts a path toward monetizing AI and robotics, and maintains or improves its rock-solid balance sheet, the stock could surpass a new all-time high in 2024.
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Even if investing throughout the market cycle is the right long-term move, it's vital to recognize that the market may be unwilling to think so long-term during a broad sell-off. Tesla is one of those companies where understanding the long-term investment thesis and what can move the stock in the short term are equally important. If Tesla improves its top- and bottom-line growth rates, bolsters its margins, charts a path toward monetizing AI and robotics, and maintains or improves its rock-solid balance sheet, the stock could surpass a new all-time high in 2024.
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92365d40-68fc-4f4b-90fd-39d9ef794fd2
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713093.0
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2023-12-12 00:00:00 UTC
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The Crypto Winter Is Finally Over. Here's What to Buy Now
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DCOMP
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https://www.nasdaq.com/articles/the-crypto-winter-is-finally-over.-heres-what-to-buy-now
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nan
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nan
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Historically, the crypto market has been highly cyclical. Long bull market rallies are followed by long bear market reversals, and then the cycle repeats again. That appears to be what is happening right now -- after a long crypto winter led to widespread carnage in the crypto market in 2022, we're seeing the signs of an extended crypto market rally in 2023.
The big question, of course, is what happens in 2024. If the "crypto winter" phase of the cycle is finally over, it could mean the arrival of "crypto spring." Let's take a closer look at what that means for your portfolio.
The Bitcoin halving
As Wall Street firm Morgan Stanley recently pointed out to its wealth management clients, a number of different factors could signal the arrival of crypto spring. The most important of these is the upcoming Bitcoin (CRYPTO: BTC) halving. This event, which takes place only once every four years, is scheduled for April 2024. There have been three previous Bitcoin halvings (in 2012, 2016, and 2020), and each one led to a huge rally in the price of Bitcoin.
While some may say that this is just an interesting historical coincidence, or that past performance is no guarantee of future performance, there are several good reasons the halving seems to have such a strong impact on the price of Bitcoin. Most importantly, the halving introduces an element of scarcity to Bitcoin. It also makes Bitcoin more deflationary over time.
Image source: Getty Images.
In a halving event, the rate of new Bitcoin production is cut in half. Currently, Bitcoin miners receive a reward of 6.25 Bitcoins for every block they create for the blockchain. In 2024, that figure will shift to 3.125 Bitcoins. And there's nothing that anyone can do to stop this -- it's literally controlled by an algorithm, which is what makes Bitcoin unique. As the scarcity of Bitcoin increases, the price should go up.
What to buy after the crypto winter
If crypto spring is indeed on its way (or perhaps already here), then what should you be buying? The obvious answer, of course, is Bitcoin. If you buy into the idea of the Bitcoin halving cycle, then it makes sense to start buying Bitcoin now. As Morgan Stanley points out, the biggest gains for Bitcoin have always come in a 12-to-18-month window right around the halving. This is the "growing season" (Morgan Stanley's words, not mine) for Bitcoin. If you get in during this season, you can let the market take care of the rest.
The next most obvious answer is: any stock that is highly leveraged to the price of Bitcoin. This includes companies such as MicroStrategy (NASDAQ: MSTR), which has a balance sheet stuffed with Bitcoin. And it includes companies such as cryptocurrency exchange Coinbase Global (NASDAQ: COIN). Currently, Bitcoin accounts for approximately one-third of all trading volume on the Coinbase platform.
And to a lesser extent, it includes Bitcoin mining stocks. On the surface, the Bitcoin halving might sound like a fantastic catalyst for companies such as Marathon Digital Holdings (NASDAQ: MARA) or Riot Platforms (NASDAQ: RIOT). The problem, though, is that the Bitcoin halving results in the mining rewards they receive being cut in half. Even if they run their Bitcoin mining facilities at 100% capacity, and crank up all their mining rigs to 10, they are almost certain to see a direct hit to their profitability unless the price of Bitcoin doubles. So, if you choose to invest in a Bitcoin mining stock, caveat emptor.
Options beyond Bitcoin
Historically, any rally in Bitcoin brings along the entire crypto market. This means that other cryptocurrencies beyond just Bitcoin could start to rally as well. Prime candidates include the likes of Solana (CRYPTO: SOL), which is up a sizzling 575% in 2023.
So, to use the "growing season" analogy used by Morgan Stanley, it might make sense to plant a few seedlings of these cryptos as well. It really depends on your risk tolerance. Obviously, these cryptos are a lot riskier than Bitcoin, but the potential upside could be much higher.
Where are we in the cycle?
Whether or not you fully buy into the idea of the Bitcoin halving, there's no question that crypto is highly cyclical. Morgan Stanley refers to the "four seasons" for crypto. It's your task to figure out which season we're in and adjust your portfolio accordingly.
As for me, I'm fully convinced that crypto winter is over and crypto spring is on the way. The weather outside may be getting colder, but my portfolio is starting to heat up. From my perspective, the Bitcoin halving event in April could be just the catalyst the crypto market needs to break out of its long winter slump.
Should you invest $1,000 in Bitcoin right now?
Before you buy stock in Bitcoin, 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 Bitcoin 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
Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, and Solana. 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.
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The Bitcoin halving As Wall Street firm Morgan Stanley recently pointed out to its wealth management clients, a number of different factors could signal the arrival of crypto spring. So, to use the "growing season" analogy used by Morgan Stanley, it might make sense to plant a few seedlings of these cryptos as well. From my perspective, the Bitcoin halving event in April could be just the catalyst the crypto market needs to break out of its long winter slump.
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If you buy into the idea of the Bitcoin halving cycle, then it makes sense to start buying Bitcoin now. Whether or not you fully buy into the idea of the Bitcoin halving, there's no question that crypto is highly cyclical. Before you buy stock in Bitcoin, 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 Bitcoin wasn't one of them.
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If you buy into the idea of the Bitcoin halving cycle, then it makes sense to start buying Bitcoin now. Options beyond Bitcoin Historically, any rally in Bitcoin brings along the entire crypto market. Before you buy stock in Bitcoin, 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 Bitcoin wasn't one of them.
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If you buy into the idea of the Bitcoin halving cycle, then it makes sense to start buying Bitcoin now. Before you buy stock in Bitcoin, 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 Bitcoin wasn't one of them. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, and Solana.
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12e72455-f17e-414a-b2ee-cbbfeefc1d61
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713094.0
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2023-12-12 00:00:00 UTC
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5 Top Tech Stocks to Buy Now, According to Analysts – December 2023
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DCOMP
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https://www.nasdaq.com/articles/5-top-tech-stocks-to-buy-now-according-to-analysts-december-2023
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nan
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nan
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The prospects for the technology sector are shaping well as the economy enters 2024 with cooling inflation, forecasts of several interest rate cuts, and improved consumer spending. To top this, the ongoing artificial intelligence (AI) race continues to push tech firms to innovate new products, which appears to be promising for the expansion of the industry. Therefore, investors with a long-term investment horizon could consider investing in the tech sector.
Leveraging the TipRanks Stock Screener tool, we have shortlisted stocks with the potential to outperform the market averages. These five stocks have received a Strong Buy rating from analysts and have an Outperform Smart Score (i.e., 8, 9, or 10) on TipRanks. Moreover, the analysts’ price targets reflect an upside potential of more than 20%.
Here are the five key stocks from the tech sector that investors can consider.
Nvidia (NASDAQ:NVDA) – This software company manufactures computer graphics processors, chipsets, and related multimedia software. The stock’s price forecast of $661 implies a 36.7% upside potential. NVDA stock has a Smart Score of “Perfect 10.” This week, two analysts rated the stock a Buy.
Nice (NASDAQ:NICE) – NICE specializes in customer relations management software, AI, digital, and workforce engagement management solutions. Analysts currently see an upside potential of 28.6% in NICE stock. Also, it has a Smart Score of “Perfect 10.”
Smartsheet (NYSE:SMAR) – The company designs and develops a cloud-based platform for work management. The stock’s price forecast of $55.21 implies a nearly 22% upside. SMAR stock has a top-notch Smart Score of “Perfect 10.” Following upbeat Q2 results released on December 8, six analysts rated the stock a Buy.
Braze (NASDAQ:BRZE) – Braze is a customer engagement platform that powers customer-centric interactions between consumers and brands. BRZE stock has an analyst consensus upside of 24% and a Smart Score of nine. The company reported better-than-expected fiscal Q3 results on December 7, after which 15 analysts rated the stock a Buy.
Axcelis Technologies (NASDAQ:ACLS) – Axcelis manufactures dry strips, ion implantation, and other processing equipment used in the fabrication of semiconductor chips. ACLS stock’s average price target implies a consensus upside of 29.8%. Moreover, it has an outperforming Smart Score of eight.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The prospects for the technology sector are shaping well as the economy enters 2024 with cooling inflation, forecasts of several interest rate cuts, and improved consumer spending. To top this, the ongoing artificial intelligence (AI) race continues to push tech firms to innovate new products, which appears to be promising for the expansion of the industry. Also, it has a Smart Score of “Perfect 10.” Smartsheet (NYSE:SMAR) – The company designs and develops a cloud-based platform for work management.
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Nice (NASDAQ:NICE) – NICE specializes in customer relations management software, AI, digital, and workforce engagement management solutions. Axcelis Technologies (NASDAQ:ACLS) – Axcelis manufactures dry strips, ion implantation, and other processing equipment used in the fabrication of semiconductor chips. ACLS stock’s average price target implies a consensus upside of 29.8%.
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These five stocks have received a Strong Buy rating from analysts and have an Outperform Smart Score (i.e., 8, 9, or 10) on TipRanks. NVDA stock has a Smart Score of “Perfect 10.” This week, two analysts rated the stock a Buy. SMAR stock has a top-notch Smart Score of “Perfect 10.” Following upbeat Q2 results released on December 8, six analysts rated the stock a Buy.
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NVDA stock has a Smart Score of “Perfect 10.” This week, two analysts rated the stock a Buy. The stock’s price forecast of $55.21 implies a nearly 22% upside. BRZE stock has an analyst consensus upside of 24% and a Smart Score of nine.
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7e4ccdaf-7d48-4c5f-b7db-f98147925fb7
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713095.0
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2023-12-12 00:00:00 UTC
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Never Mind the FAANG Stocks; Buy the GHOST Stocks Before 2024
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DCOMP
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https://www.nasdaq.com/articles/never-mind-the-faang-stocks-buy-the-ghost-stocks-before-2024
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nan
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nan
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Given its widespread use, most investors are likely familiar with FAANG, a well-worn acronym that refers to some of the best-performing companies of the past decade:
Facebook, which rebranded as Meta Platforms
Apple
Amazon
Netflix
Google, now known as Alphabet
Each of these companies dominates its respective industry, outflanking rivals and providing a windfall for long-term investors over the past 10 years.
Meta Platforms has three of the top five social media platforms worldwide under its umbrella. Apple boasts eight of the top 10 best-selling smartphones of 2022. Amazon controls nearly half of all e-commerce spending in the U.S. Netflix continues to be the largest subscription streaming service by a wide margin. Google search is unmatched, with 92% of the market.
Investors that held these stocks for the past decade have enjoyed a veritable windfall, with gains ranging from 392% and 871% -- even in the wake of last year's historic downturn (as of market close on Tuesday).
Data by YCharts
Yet it's also clear that each of these pioneers is getting a little long in the tooth and growth has slowed in recent years. Investors are beginning to look for the next generation of industry leaders that will blaze the trail over the coming decade.
With that in mind, I created the GHOST acronym a year or so ago with a roster of companies that could lead the way in 2024 and beyond.
Global-e Online
Last year was a tough one for online retailers, but the macroeconomic challenges that held them back are waning. Global e-commerce sales are expected to grow from $3 trillion in 2023 to $5 trillion by 2028, according to data compiled by Statista. Cross-border sales will likely lead the way, thanks to Global-e Online (NASDAQ: GLBE).
The company makes short work of the pitfalls inherent in cross-border retail. This includes inter-country regulatory compliance, currency exchange, customs and duties, foreign languages, local payment methods, and more. This gives merchants the tools they need to do business in the lucrative global marketplace.
That's why Shopify has a strategic partnership with Global-e, while also owning a 13% stake in the company, worth more than $775 million as of Tuesday's market close. Shopify has roughly 1.7 million merchants, and Global-e is the company's exclusive provider of cross-border services -- a huge vote of confidence from the world's largest provider of e-commerce tools.
For the first nine months of 2023, Global-e generated revenue of $385 million, which grew 43% year over year, while also cutting its loss based on generally accepted accounting principles (GAAP) by 36%. The company continues to generate strong operating cash flow on the way to consistent profitability.
As digital retail recovers from the economic downturn, Global-e Online is well positioned to benefit.
Image source: Getty Images.
HubSpot
While HubSpot (NYSE: HUBS) pioneered inbound marketing, the company has expanded into a full-service customer relationship management (CRM) provider focusing on small and medium-sized businesses. The company now offers marketing, sales, service, content management, operations, and commerce products, all from a single dashboard.
In the third quarter, HubSpot generated total revenue of $558 million, up 28% year over year, while cutting its net loss by 82%. The company has yet to generate a profit on a GAAP basis, but the combination of declining losses and consistent cash flow suggests profits are on the horizon.
Customers continue to flock to the platform, up 22% year over year, while the average subscription revenue per customer edged 3% higher.
As HubSpot increased its offerings, its opportunity has increased as well. Management estimates its current total addressable market (TAM) of $51 billion will climb to $77 billion by 2028. When viewed in the context of its 2022 revenue of $1.7 billion, the runway ahead seems long.
HubSpot's cloud-native platform is leading the CRM space for the next generation.
Okta
When I first picked Okta (NASDAQ: OKTA) more than a year ago, the premise was simple: The company's cloud-based identity verification and access management products were unmatched. Since then, however, the company's reputation has fallen into question. Just last month, Okta revealed that hackers had accessed a report with the names and email addresses of all the users of its customer support system. Not a good look for a company focused on cybersecurity.
Its embarrassment notwithstanding, I believe Okta can come back from this, as the need for its services remains. Businesses everywhere must ensure that employees, customers, and contractors have the required credentials to access sensitive business systems.
In its fiscal 2024 third quarter (ended Oct. 31), Okta grew revenue by 21% year over year to $584 million, while its current backlog of $1.8 billion grew 16%. It's optimal for the backlog to grow as fast or faster than current revenue, which is an indicator of strengthening demand.
This suggests that there's some (understandable) hesitancy on the part of businesses to hitch their wagon to Okta in light of recent events. That's also reflected in management's outlook for fiscal 2025, which is guiding for revenue growth of 10%, a significant deceleration from its current level.
Don't get me wrong; Okta has much work to do to repair the damage done to its reputation and earn back customer trust. That said, I believe management is up to the task, though the issue certainly bears watching.
Snowflake
While corporate server rooms and IT departments were once the keepers of data, applications, and other computer systems, the digital transformation is causing a paradigm shift, moving much of that to the cloud. The downside is that much of the information comes from disparate systems, making the extraction of actionable data challenging.
That's where Snowflake (NYSE: SNOW) comes in. The company not only has the ability to store data and systems on its cloud-native system, but also provides a broad range of services to gather and analyze data, resulting in meaningful intelligence.
In its fiscal 2024 third quarter (ended Oct. 31), revenue grew 32% year over year, fueled by product revenue that also grew 34%. While the company has yet to report a profit, Snowflake generates strong operating and free cash flow of $102 million and $111 million, respectively, which suggests it's merely a matter of time before the company is delivering continuing profitability.
Snowflake's customer metrics help tell the tale. The company's customer count grew 24%, but for its most lucrative clients -- those spending $1 million or more in the trailing-12-month period -- revenue grew 52%, which is elevating its growth. Furthermore, the company's net revenue retention rate of 135% shows that existing customers tend to spend more over time.
As more workloads move to the cloud, Snowflake has the solutions that businesses need to make the digital transformation a reality.
The Trade Desk
When the economy turned south, digital advertising fell like a stone, as marketers scrambled to shore up their financial positions. As a result, several of the world's largest online advertisers suffered year-over-year revenue declines. One notable exception was The Trade Desk (NASDAQ: TTD). While its advertising growth slowed, not only did the company continue to post gains, it also took market share at the expense of its big-name rivals.
Don't take my word for it. Earlier this year, CEO Jeff Green said, "Our relative outperformance over the last few quarters means we have gained more market share than in any other period in our company's history."
He went on to note that as advertisers became "more deliberate" in their spending, The Trade Desk attracted new converts by giving marketers a greater return on their marketing investment. The company is not only attracting new clients; it's also encouraging more spending from existing users.
One key attraction is The Trade Desk's relentless pursuit of improvement. Over the past year, the company released Solimar -- its latest platform upgrade -- which allows marketers to deploy first-party data to improve targeted advertising results.
In the third quarter of 2023, The Trade Desk grew revenue 23% year over year to $1.3 billion, while its adjusted earnings per share of $0.84 grew 27%. Furthermore, customer retention remained above 95%, as it has for each and every quarter going back nine years. This is partially the result of the company's transparent pricing, which should help it continue to steal market share for years to come.
Should you invest $1,000 in Global-e Online right now?
Before you buy stock in Global-e Online, 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 Global-e Online 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
Suzanne Frey, an executive at Alphabet, 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. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Danny Vena has positions in Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk. 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.
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Snowflake While corporate server rooms and IT departments were once the keepers of data, applications, and other computer systems, the digital transformation is causing a paradigm shift, moving much of that to the cloud. Danny Vena has positions in Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk.
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Given its widespread use, most investors are likely familiar with FAANG, a well-worn acronym that refers to some of the best-performing companies of the past decade: Facebook, which rebranded as Meta Platforms Apple Amazon Netflix Google, now known as Alphabet Each of these companies dominates its respective industry, outflanking rivals and providing a windfall for long-term investors over the past 10 years. Danny Vena has positions in Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk.
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Given its widespread use, most investors are likely familiar with FAANG, a well-worn acronym that refers to some of the best-performing companies of the past decade: Facebook, which rebranded as Meta Platforms Apple Amazon Netflix Google, now known as Alphabet Each of these companies dominates its respective industry, outflanking rivals and providing a windfall for long-term investors over the past 10 years. In its fiscal 2024 third quarter (ended Oct. 31), Okta grew revenue by 21% year over year to $584 million, while its current backlog of $1.8 billion grew 16%. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk.
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Cross-border sales will likely lead the way, thanks to Global-e Online (NASDAQ: GLBE). In its fiscal 2024 third quarter (ended Oct. 31), Okta grew revenue by 21% year over year to $584 million, while its current backlog of $1.8 billion grew 16%. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Global-e Online, HubSpot, Meta Platforms, Netflix, Okta, Shopify, Snowflake, and The Trade Desk.
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227f64e5-76cf-4f0b-9b6d-173de357dd8b
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713096.0
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2023-12-12 00:00:00 UTC
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Data Centers Are Driving Demand for This Dividend Stock
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DCOMP
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https://www.nasdaq.com/articles/data-centers-are-driving-demand-for-this-dividend-stock
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nan
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nan
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American Electric Power (NASDAQ: AEP), also known as AEP, is a traditional regulated utility. It is kind of a boring company in many ways, even though its 4.3% yield and an over-decade-long streak of annual dividend hikes might be particularly attractive to conservative income investors. However, there is an interesting trend taking shape that is legitimately exciting when it comes to electricity demand. Here's what's going on and why it should be on your radar.
Big and boring with a focus on reliable
With a market cap of $42 billion, AEP is one of the largest publicly traded utilities in the United States. It serves close to 5.6 million customers across 11 states, including Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia, and West Virginia. As a regulated utility, AEP has a monopoly in the areas it serves, but it has to have its rate increases and investment plans approved by the government.
Image source: Getty Images.
There's a trade-off here. Generally speaking, regulated utilities grow slowly because of government oversight. But the growth is fairly predictable, as the spending and rate increases tend to occur no matter what is happening on Wall Street or in the economy once they are approved. The key to all of this is that regulators want to ensure that the utility provides its customers with reliable and affordable power.
There are a number of factors that go into achieving that. On a basic level, AEP has to ensure the assets it owns are in working order with basic maintenance. Then it has to monitor customer levels since more customers means more demand. That could require the utility to build new power plants. And third, and more recent, it needs to keep up with the world's shift toward cleaner energy. All of these factors are easy wins when it comes to getting spending approved.
But there's a fourth issue that's been popping up lately: increasing use from certain types of customers. In the case of AEP, commercial customers. It's a pretty exciting development.
The internet is a hungry beast
Residential demand in AEP's business was down roughly 0.9% through the first three quarters of 2023. That's not great, but it tracks with two trends. Longer-term, there has been a shift toward more efficient use of electricity (think LED lighting), and shorter term, more people are switching from "work from home" to "work from work," which inherently reduces residential electricity use. Industrial demand was up roughly 1.3% through the first nine months, helping to offset the drop in residential demand.
But the big change was in commercial demand, which rose a huge 7.7%. Part of that is more people working from work, but there's another piece that investors will want to monitor closely. In fact, at least partly thanks to this one factor, demand is expected to be three times greater than originally projected in 2023. The cause of this big upside surprise? Commercial demand from data centers, specifically in Ohio, Texas, and Indiana.
Data centers are the backbone of the internet and help support the increasingly mobile world. As more people stream video on the go through their mobile devices, demand for data centers is likely to increase even more. Also pushing up demand for data centers is the headline-grabbing artificial intelligence trend. Data centers use a lot of electricity to both operate the technology inside the building and to cool it. It is highly likely that demand will continue to grow as the world gets more and more digital in the future. So there's potentially even more upside here in the years ahead.
AEP could see good news for years
More demand means more revenue for AEP right away. It also means more capital spending, which supports higher rate growth over time. So data centers are really a big win for the utility. With the pullback in AEP's stock since interest rates started to rise roughly a year ago, conservative investors might want to take a closer look while it appears to be on the sale rack (shares are lower by around 25% from their 2022 highs).
Indeed, there are some exciting things taking place within the areas the utility serves. This could lead to an uptick in demand for the power it sells and, in turn, that should result in ongoing strong business performance. Solid dividend growth, which has averaged in the mid-single digits over the past decade, is the likely outcome, which conservative income-oriented shareholders should greatly appreciate.
Should you invest $1,000 in American Electric Power right now?
Before you buy stock in American Electric Power, 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 American Electric Power 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
Reuben Gregg Brewer 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.
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It is kind of a boring company in many ways, even though its 4.3% yield and an over-decade-long streak of annual dividend hikes might be particularly attractive to conservative income investors. Big and boring with a focus on reliable With a market cap of $42 billion, AEP is one of the largest publicly traded utilities in the United States. With the pullback in AEP's stock since interest rates started to rise roughly a year ago, conservative investors might want to take a closer look while it appears to be on the sale rack (shares are lower by around 25% from their 2022 highs).
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American Electric Power (NASDAQ: AEP), also known as AEP, is a traditional regulated utility. It serves close to 5.6 million customers across 11 states, including Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia, and West Virginia. Before you buy stock in American Electric Power, 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 American Electric Power wasn't one of them.
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American Electric Power (NASDAQ: AEP), also known as AEP, is a traditional regulated utility. AEP could see good news for years More demand means more revenue for AEP right away. Before you buy stock in American Electric Power, 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 American Electric Power wasn't one of them.
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Then it has to monitor customer levels since more customers means more demand. Data centers are the backbone of the internet and help support the increasingly mobile world. So data centers are really a big win for the utility.
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504fdfe3-405c-401a-811c-e8b4bbe48f20
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713097.0
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2023-12-12 00:00:00 UTC
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Where Will RTX Be in 1 Year?
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DCOMP
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https://www.nasdaq.com/articles/where-will-rtx-be-in-1-year
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The aerospace and defense giant disappointed investors in 2023. Still, a snapshot of RTX (NYSE: RTX) at the end of 2024 could show a company in much better shape than it is now. If so, the stock could bounce back strongly next year. Here's what you need to know before buying the stock.
RTX stock in 2024
There are two key issues and questions that will drive RTX's share price in the coming year:
What will be the final financial impact of inspecting and removing commercial airplane engines potentially manufactured with contaminated powder metal?
When will the supply chain and labor issues ease in the defense businesses to enable margin expansion as RTX executes on its record backlog?
The two questions are critical for the company's progression toward its revised target of $7.5 billion in free cash flow (FCF) in 2025. As previously discussed, penciling in a valuation of 20 times FCF, a reasonable valuation for a mature industrial company, and the $7.5 billion leads to a price target of around $104 compared with the current price of $81.32, implying an annual return of 13% over the next two years. Include the dividend that currently yields 2.9%, and it comes to nearly 16%.
Engine inspections
The returns we've discussed are obviously attractive. Still, there's no guarantee that RTX will hit them. That said, investors should get more color on the first question -- engine inspections -- in the first half, while the latter issue will take longer to resolve.
Back in mid-September, management updated investors on the potential financial impact of the engine inspections between 2023 and 2026. Management continues to expect $3 billion in cash headwinds over the period.
While the inspections will run on over the next few years, two-thirds of the 600 to 700 incremental shop visits will occur in 2023 and "relatively early in '24," according to RTX COO Chris Calio on the last earnings call. Consequently, investors can expect an update on the inspections issue in the first half of 2024, something that will build confidence in the 2025 FCF projections.
Image source: Getty Images.
Defense industry woes
For the second consecutive year, RTX's defense businesses are set to deliver profits lower than management's expectations at the start of the year. The issue isn't backlog or orders. In fact, the former stands at a record, with $50 billion in backlog at the defense-focused Raytheon segment and its year-to-date book-to-bill stands at 1.17, implying strong growth in the coming year.
Instead, as CFO Neil Mitchill noted on the earnings call: "Raytheon continues to have productivity and mix challenges. This stemmed from a combination of the fixed-price development programs we have previously discussed as well as higher production costs." These issues are common in the industry, with Boeing also reporting similar issues. Defense companies have been saddled with margin compression on fixed-price programs, signed in less inflationary times, as soaring costs have hurt defense contractors.
Unfortunately, these issues won't moderate soon, and Mitchill talked of "persistently high" pockets of inflation in its cost base. As such, Raytheon is implementing "additional strategic initiatives to offset the pressure we expect to see in 2024."
What to expect from RTX in 2024
Investors can expect an update on the engine inspections in the first half of the year. Hopefully, what it says will strengthen the framework around the $7.5 billion in FCF in 2025 target. In addition, as the commercial aerospace recovery spreads to long-haul international routes, RTX should see the benefit in the lucrative widebody aftermarket.
Image source: Getty Images.
Turning to defense, the supply chain issues are clearing, just not at the rate that most expected in 2023. That could change in 2024, particularly as market expectations for a recovery in defense company margins are probably low after a disappointing 2023.
RTX remains an attractive stock for investors, including income-seeking ones, but it's a stock for the patient. Unfortunately, there's no quick fix to the supply chain issues. Until the data from the bulk of the engine inspections is in, there's always a shadow of uncertainty around the issue.
That said, RTX is moving in the right direction and there's good reason to believe it will be in a stronger position at the end of the year. The potential stock return from hitting its FCF target makes the stock attractive for value investors.
Should you invest $1,000 in RTX right now?
Before you buy stock in RTX, 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 RTX 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
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends RTX. 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.
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When will the supply chain and labor issues ease in the defense businesses to enable margin expansion as RTX executes on its record backlog? While the inspections will run on over the next few years, two-thirds of the 600 to 700 incremental shop visits will occur in 2023 and "relatively early in '24," according to RTX COO Chris Calio on the last earnings call. In addition, as the commercial aerospace recovery spreads to long-haul international routes, RTX should see the benefit in the lucrative widebody aftermarket.
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As previously discussed, penciling in a valuation of 20 times FCF, a reasonable valuation for a mature industrial company, and the $7.5 billion leads to a price target of around $104 compared with the current price of $81.32, implying an annual return of 13% over the next two years. Back in mid-September, management updated investors on the potential financial impact of the engine inspections between 2023 and 2026. The potential stock return from hitting its FCF target makes the stock attractive for value investors.
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RTX stock in 2024 There are two key issues and questions that will drive RTX's share price in the coming year: What will be the final financial impact of inspecting and removing commercial airplane engines potentially manufactured with contaminated powder metal? What to expect from RTX in 2024 Investors can expect an update on the engine inspections in the first half of the year. Before you buy stock in RTX, 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 RTX wasn't one of them.
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The issue isn't backlog or orders. What to expect from RTX in 2024 Investors can expect an update on the engine inspections in the first half of the year. The potential stock return from hitting its FCF target makes the stock attractive for value investors.
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0678bfb7-94be-4c68-8b77-cc7b730e3b8a
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713098.0
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2023-12-12 00:00:00 UTC
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Spot copper fees drop 25% from September on supply tightness
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DCOMP
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https://www.nasdaq.com/articles/spot-copper-fees-drop-25-from-september-on-supply-tightness
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nan
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nan
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HANOI/BEIJING Dec 15 (Reuters) - Fees to process copper concentrate in the Chinese spot market have fallen by a quarter in less than three months to stand below $70 a metric ton on Friday, fanned by worries over tight supply.
The spot copper concentrate treatment charges (TC) in China, as assessed by information provider Shanghai Metals Market (SMM), hit $69.48 a ton, down 25% from $93.23 a ton on Sept. 28.
Such treatment charges, one of the main sources of income for smelters, fall when less copper concentrate is available, and vice versa.
"The expected shortage of copper concentrate may lead to a rapid decline in spot processing fees," SMM said in a note.
Chinese smelters were unable to buy enough copper concentrate, with some experiencing passive production cuts due to insufficient operating rates, it added.
SMM flipped its copper concentrate market balance forecast to a deficit of 200,000 tons to 300,000 tons for 2024, from a previous projection of a surplus of 70,000 tons.
Consultancy CRU Group also switched its forecast for 2024 to a deficit of 174,000 tons, from a previous 260,000-ton surplus projection.
Supply of copper concentrate next year turned tight after Panama's president ordered the closure of First Quantum's FM.TO Cobre mine. Miner Anglo American AAL.L also cuts its production guidance by 20% for 2024 and by 18% for 2025.
"Panama disruption is the main driver of the fees falling, right at the time Chinese smelters are stockpiling for the new year," said a source at a Chinese smelter.
However, trading volume on the spot concentrate market was tepid, as smelters were reluctant to accept lower fees and traders sought to hold back stocks or offer lower fees, accentuating supply tightness, another smelter source said.
CRU halved its output forecast for Cobre Panama mine to 50,000 tons in the fourth quarter of 2023, from 102,000 tons. The mine's output will drop to zero in the first quarter of 2024, it said, adding that more than half usually goes to China.
The disruption in Panama was a key reason behind the drop in the annual TC benchmark for 2024 to $80 a ton, with smelters accepting the first fee drop in three years on fear of supply tightness.
China's biggest copper smelter, Jiangxi Copper 60362.SS, saw increasing challenges ahead for the country's smelters in securing copper concentrate, a company official said last month.
(Reporting by Mai Nguyen in Hanoi and Siyi Liu in Beijing; Editing by Clarence Fernandez)
((mai.nguyen@thomsonreuters.com; Reuters Messaging: mai.nguyen.thomsonreuters.com@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.
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HANOI/BEIJING Dec 15 (Reuters) - Fees to process copper concentrate in the Chinese spot market have fallen by a quarter in less than three months to stand below $70 a metric ton on Friday, fanned by worries over tight supply. Chinese smelters were unable to buy enough copper concentrate, with some experiencing passive production cuts due to insufficient operating rates, it added. Supply of copper concentrate next year turned tight after Panama's president ordered the closure of First Quantum's FM.TO Cobre mine.
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HANOI/BEIJING Dec 15 (Reuters) - Fees to process copper concentrate in the Chinese spot market have fallen by a quarter in less than three months to stand below $70 a metric ton on Friday, fanned by worries over tight supply. The spot copper concentrate treatment charges (TC) in China, as assessed by information provider Shanghai Metals Market (SMM), hit $69.48 a ton, down 25% from $93.23 a ton on Sept. 28. SMM flipped its copper concentrate market balance forecast to a deficit of 200,000 tons to 300,000 tons for 2024, from a previous projection of a surplus of 70,000 tons.
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HANOI/BEIJING Dec 15 (Reuters) - Fees to process copper concentrate in the Chinese spot market have fallen by a quarter in less than three months to stand below $70 a metric ton on Friday, fanned by worries over tight supply. SMM flipped its copper concentrate market balance forecast to a deficit of 200,000 tons to 300,000 tons for 2024, from a previous projection of a surplus of 70,000 tons. China's biggest copper smelter, Jiangxi Copper 60362.SS, saw increasing challenges ahead for the country's smelters in securing copper concentrate, a company official said last month.
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"Panama disruption is the main driver of the fees falling, right at the time Chinese smelters are stockpiling for the new year," said a source at a Chinese smelter. CRU halved its output forecast for Cobre Panama mine to 50,000 tons in the fourth quarter of 2023, from 102,000 tons. The disruption in Panama was a key reason behind the drop in the annual TC benchmark for 2024 to $80 a ton, with smelters accepting the first fee drop in three years on fear of supply tightness.
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9733e020-bf90-4a0c-96f8-533d2e3386db
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713099.0
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2023-12-12 00:00:00 UTC
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3 Must-Buy Stocks to Round Off a Successful 2023
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DCOMP
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https://www.nasdaq.com/articles/3-must-buy-stocks-to-round-off-a-successful-2023
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The stock market is having a great 2023. And what better way to start off 2024 right than to secure your portfolio with some promising end-of-year stock choices. The S&P 500 is up 21% this year, though that’s mostly on the backs of the so-called Magnificent 7 stocks. Combined, those stocks are up around 70% year-to-date. Eliminate them and the popular index is only 6% higher for the year.
Despite the lopsided returns, there are plenty of must-buy stocks to pick up now to close out the trading year. Even amongst the Mag 7 there are stocks worth buying although their valuations rocketed this year. With that in mind what follows are end-of-year stock choices that you can buy now to round out a successful 2023.
Amazon (AMZN)
Source: Tada Images / Shutterstock.com
Right out of the gate I’ll point to Amazon (NASDAQ:AMZN) as a must-buy stock for year-end investing. The e-commerce giant wasn’t the best-performing Magnificent 7 stock, but with shares up 75% with two weeks to go in 2023, it’s doing pretty well.
There are three distinct reasons to add Amazon to your portfolio, e-commerce, cloud computing and digital advertising. These, of course, are the core of Amazon’s business and the juggernaut will keep them expanding even if some are growing at a slower rate.
That was the reason Amazon’s stock got cut in half in 2022. Fears that slowing online sales would cause the business to fall apart had investors fleeing the stock. What they ended up discovering was artificial intelligence actually made the e-commerce business more relevant than ever. Amazon just deployed AI tools for third-party sellers to help them write better, more engaging product descriptions. Marketers also will be able to use the tools to create better, more effective ads.
That brings up the advertising component. Digital ads are growing again after advertisers reined in spending. Amazon reported ad revenue was up 25% in the third quarter year-over-year. Look for it to grow this segment even more over the coming years.
Cloud services are also a growing operation, though more slowly than in the past. It still commands the largest share of the market and it added AI tools for cloud customers too. It all means there is lots more growth in store.
Costco (COST)
Source: ilzesgimene / Shutterstock.com
Warehouse club leader Costco (NASDAQ:COST) needs to be on your end-of-year shopping list. The economy is acting a lot like the S&P 500 index. It gives off signs of broad-based growth, but really we’re experiencing just pockets of excellence.
Consumers are growing increasingly defensive about their spending. No longer flush with cash from stimulus checks, they’re focused on making every purchase count. That means they’re primarily buying everyday essentials, which is where Costco excels. It makes bulk-buying of basic goods a smart, money-saving strategy and customers are responding.
Comparable store sales grew 11.2% globally in Q1 2024, though were softer in the U.S., up just 2%. Yet the retailer saw more customer traffic even as they made smaller purchases. Because Costco operates on high volume, low margin purchases this worked to the retailer’s advantage. Profits soared 16% year over year.
That could happen again next year too. Costco hasn’t increased its membership fees in quite a few years and says it’s not merely a matter of if it does so again, but rather when. 2024 seems the logical choice because it would be in line with its historical trend and the increased fees will go right to Costco’s bottom line.
Since Costco members are insanely loyal to the retailer it won’t have to worry about losing many because membership is becoming too expensive. Even better, Costco recently entered China, the biggest consumer market. It only has five stores there now suggesting it has a massive opportunity that investors should capitalize on by buying in now.
Coca-Cola (KO)
Source: Jonathan Weiss / Shutterstock
Coca-Cola (NYSE:KO) remains one of the top 10 brands globally and is the most valuable food and beverage company in the world. Marketing analysts at Interbrand peg Coke’s value north of $58 billion, up 1% from 2022. Although its value suffered over the past decade as consumer preferences have changed around soda, that it’s able to maintain its status indicates just how powerful the brand is.
And Coke is changing with the times too. It is adding more health minded beverages to its lineup, including juice, dairy, tea, water and more. It resonates with consumers, too, as organic sales grew 11% and earnings per share were up 9%. That’s one of the reasons Warren Buffett bought the stock decades ago and never sold. It’s a cash-generating machine.
That also makes Coca-Cola a reliable dividend stock. It has paid a dividend every quarter since 1920 and raised the payout every year since 1963. That 60-year track record put Coke into the elite group of dividend kings, or companies that annually hike their payout for 50 years or more. Few companies have as long of a history of raising their dividend as Coca-Cola, which currently yields 3% annually.
Coca-Cola shares are down 6% in 2023 making the iconic brand one of the best ideal end-of-year stock choices.
On the date of publication, Rich Duprey held a LONG position in KO stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.
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The post 3 Must-Buy Stocks to Round Off a Successful 2023 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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That 60-year track record put Coke into the elite group of dividend kings, or companies that annually hike their payout for 50 years or more. More From InvestorPlace The #1 AI Investment Might Be This Company You’ve Never Heard Of Musk’s “Project Omega” May Be Set to Mint New Millionaires. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Must-Buy Stocks to Round Off a Successful 2023 appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips The stock market is having a great 2023. It still commands the largest share of the market and it added AI tools for cloud customers too. Comparable store sales grew 11.2% globally in Q1 2024, though were softer in the U.S., up just 2%.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips The stock market is having a great 2023. Amazon (AMZN) Source: Tada Images / Shutterstock.com Right out of the gate I’ll point to Amazon (NASDAQ:AMZN) as a must-buy stock for year-end investing. Rich Duprey has written about stocks and investing for the past 20 years.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips The stock market is having a great 2023. With that in mind what follows are end-of-year stock choices that you can buy now to round out a successful 2023. Profits soared 16% year over year.
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