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713900.0
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2023-12-11 00:00:00 UTC
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Norfolk Southern (NSC) to Provide Rail Service to Georgia
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DCOMP
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https://www.nasdaq.com/articles/norfolk-southern-nsc-to-provide-rail-service-to-georgia
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nan
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Norfolk Southern Corporation NSC announced that it will provide rail service to the Georgia Ports Authority's (GPA) new inland terminal in Gainesville, GA. The facility has been designed to lift 200,000 containers annually.
Norfolk Southern will link the Blue Ridge Connector inland terminal to GPA's Mason Mega Rail terminal in Savannah. Beginning in 2026, the new terminal will serve a wide range of industries, including consumer goods, heavy equipment, food and forest products. The Blue Ridge Connector will improve northeast Georgia's link to the global supply chain in concert with the Port of Savannah's 35 global container ship services.
NSC’s rail network reaches more than 50% of the U.S. population and is the broadest intermodal franchise in the eastern United States. Norfolk Southern chief marketing officer Ed Elkins stated. “The Georgia Ports Authority is an important partner to Norfolk Southern, a gateway for our customers, and an engine for economic growth. We look forward to building on our strong relationship and helping our mutual customers grow”.
This step is expected to aid faster transport of goods.
Zacks Rank and Stocks to Consider
Currently, NSC carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Norfolk Southern Corporation (NSC) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Norfolk Southern Corporation NSC announced that it will provide rail service to the Georgia Ports Authority's (GPA) new inland terminal in Gainesville, GA. Beginning in 2026, the new terminal will serve a wide range of industries, including consumer goods, heavy equipment, food and forest products. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Norfolk Southern Corporation NSC announced that it will provide rail service to the Georgia Ports Authority's (GPA) new inland terminal in Gainesville, GA. Norfolk Southern will link the Blue Ridge Connector inland terminal to GPA's Mason Mega Rail terminal in Savannah. Click to get this free report Norfolk Southern Corporation (NSC) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Norfolk Southern Corporation NSC announced that it will provide rail service to the Georgia Ports Authority's (GPA) new inland terminal in Gainesville, GA. Zacks Rank and Stocks to Consider Currently, NSC carries a Zacks Rank #3 (Hold). Click to get this free report Norfolk Southern Corporation (NSC) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Norfolk Southern Corporation NSC announced that it will provide rail service to the Georgia Ports Authority's (GPA) new inland terminal in Gainesville, GA. Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW. Millions of lithium batteries are being made & demand is expected to increase 889%.
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eef544cb-ee7c-451c-a9bd-4c46466f02ab
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713901.0
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2023-12-11 00:00:00 UTC
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Delta (DAL) Reveals Bullish Expectations for Winter Travel
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DCOMP
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https://www.nasdaq.com/articles/delta-dal-reveals-bullish-expectations-for-winter-travel
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nan
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Delta Air Lines DAL expects to attract huge traffic in the upcoming winter holiday period, just like it did in the Thanksgiving holiday period last month. Buoyed by the Thanksgiving traffic, November turned out to be the strongest month in 2023 for the carrier. A similar strong performance in the winter holidays would help DAL close the year on a healthy note.
Riding on the buoyant air-travel demand scenario, Delta expects 9 million people to avail of its flights during the winter holiday travel period (Dec 21, 2023-Jan 7, 2024). In the event of the air traffic projection coming true, Delta’s fourth-quarter 2023 results would be boosted. The airline company has added routes to broaden its network to meet the anticipated demand swell during winter.
In the 2023 Thanksgiving holiday period, 6.4 million customers flew on DAL flights between Nov 17 and Nov 28. The performance was in line with DAL’s expectation of attracting 6.2-6.4 million passengers to avail of its flights in the Nov 17-Nov 28 timeframe. During the period, there were five days when no flight operated by Delta and Delta Connection carriers were canceled. Such a day is known as brand day. There have been 30 brand days so far in the current year at DAL, with 10 of them being in November.
Driven by the upbeat air traffic scenario, DAL shares have gained 15.2% over the past month, outperforming its industry’s 11.3% uptick.
Image Source: Zacks Investment Research
Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Investors interested in the airline industry may consider some better-ranked stocks like Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for Air Canada’s 2023 and 2024 earnings has witnessed increases of 32.6% and 41.3% in the past 60 days, respectively.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet modernization efforts are commendable. The company’s initiatives to reward its shareholders also bode well.
The Zacks Consensus Estimate for SKYW’s current-year earnings has risen 38.9% in the past 60 days. The Zacks Consensus Estimate for next-year earnings has jumped 33.2% in the past 60 days.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Riding on the buoyant air-travel demand scenario, Delta expects 9 million people to avail of its flights during the winter holiday travel period (Dec 21, 2023-Jan 7, 2024). Driven by the upbeat air traffic scenario, DAL shares have gained 15.2% over the past month, outperforming its industry’s 11.3% uptick. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Delta Air Lines DAL expects to attract huge traffic in the upcoming winter holiday period, just like it did in the Thanksgiving holiday period last month. Riding on the buoyant air-travel demand scenario, Delta expects 9 million people to avail of its flights during the winter holiday travel period (Dec 21, 2023-Jan 7, 2024). Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Delta Air Lines DAL expects to attract huge traffic in the upcoming winter holiday period, just like it did in the Thanksgiving holiday period last month. Image Source: Zacks Investment Research Stocks to Consider The company currently carries a Zacks Rank #3 (Hold). Click to get this free report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Delta Air Lines DAL expects to attract huge traffic in the upcoming winter holiday period, just like it did in the Thanksgiving holiday period last month. Image Source: Zacks Investment Research Stocks to Consider The company currently carries a Zacks Rank #3 (Hold). Millions of lithium batteries are being made & demand is expected to increase 889%.
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e4e4c35e-8cd8-4efe-b245-c10a0573f522
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713902.0
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2023-12-11 00:00:00 UTC
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2 'Strong Buy' Warren Buffett Stocks to Invest In Now
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DCOMP
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https://www.nasdaq.com/articles/2-strong-buy-warren-buffett-stocks-to-invest-in-now
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nan
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nan
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Warren Buffett has a long history of successful investing. The legendary investor is known for his adherence to value investing principles, which involve looking for companies with solid fundamentals, competitive advantages, and wide economic moats.
These companies are often leaders in their industries, which reduces the relative risk associated with the investment. Moreover, a few of them also offer solid dividends. Therefore, adopting a strategy of investing in stocks within Berkshire Hathaway's (BRK.A) (BRK.B) portfolio, as curated by Buffett and his team, could prove to be a prudent approach for long-term wealth creation.
While Warren Buffett holds significant stakes in quite a few companies, including Apple (AAPL), I’ll focus here on two Buffett stocks analysts are particularly bullish about. Let's take a look.
Coca-Cola
Coca-Cola (KO) stock is Buffett’s fourth largest holding, as per the latest 13F filing. The stock accounts for 7.1% of Berkshire’s holdings. Coca-Cola benefits from strong underlying demand and the company’s solid execution. What stands out is the company’s pricing power that supports organic growth and cushions its earnings.
www.barchart.com
Despite macro headwinds, Coca-Cola achieved an impressive 11% organic revenue growth in the third quarter. This was driven by positive volume growth and higher pricing. The beverage giant expanded volume and value share in both at-home and away-from-home channels during the quarter. Additionally, its comparable gross margin increased by approximately 130 basis points for the period, reflecting higher organic sales and benefits from bottler refranchising.
Encouragingly, Coca-Cola raised its fiscal 2023 revenue and earnings guidance, projecting organic revenue growth of 10-11%, up from the earlier guidance of 8-9%. The company plans to invest further in marketing and digital initiatives to enhance the relevance of its brands to consumers. It is also prioritizing its eB2B (electronic business-to-business) platforms for better product customization, pricing optimization, and inventory management.
The company’s strong business momentum and robust balance sheet provide financial flexibility for continued reinvestment in the business and returning capital to shareholders. As a dividend king, Coca-Cola has increased its annual dividend for 61 consecutive years. The combination of steady growth, consistent dividend increases, and share buybacks positions Coca-Cola as an attractive long-term investment.
Analysts seem to concur, with the majority recommending a “Strong Buy" on KO. Among the 15 analysts covering the stock, 11 advocate a “Strong Buy,” one suggests a “Moderate Buy,” and three advise a “Hold.” Furthermore, the average price target of $64.80 implies approximately 8.4% upside potential from current levels.
www.barchart.com
Amazon
Amazon.com (AMZN) stock constitutes a small fraction of Buffet’s portfolio. However, Wall Street is quite optimistic about this e-commerce and cloud computing giant.
Despite facing macroeconomic challenges, Amazon's stock has racked up substantial gains this year, primarily propelled by the strength of its cloud computing arm, Amazon Web Services (AWS). Moreover, its focus on improving profitability, investments in artificial intelligence (AI), and sustained momentum in the advertising business further supported the rally in its share price.
www.barchart.com
AWS stands out as the key catalyst behind Amazon’s revenue and profitability. The segment’s revenue reached $23.1 billion in the third quarter, reflecting a 12% year-over-year increase. The ongoing migration of new workloads to the cloud contributes to the vertical’s growth. Its strong customer pipeline, improving cost structure, and AI-driven capabilities are expected to bolster AWS’ financial performance.
As for the advertising business, the segment holds significant potential for the company. The advertising division has consistently demonstrated over 20% revenue growth in recent quarters, and has been the key driver for Amazon’s free cash flow. In the third quarter, advertising revenues surged by over 25% to $12.1 billion. Moreover, the segment’s top line also improved sequentially.
Overall, the combined strength of Amazon’s cloud and advertising businesses, its leadership in the e-commerce sector, and a focus on improving profitability through cost reduction are expected to provide a solid foundation for the company’s financial performance.
Analysts echo this sentiment with a predominantly bullish outlook on the stock. Among the 40 analysts covering Amazon, 36 recommend a “Strong Buy,” three suggest a “Moderate Buy,” and one advises a "Hold." The average price target among analysts is $174.03, indicating approximately 16.7% upside potential from current levels.
www.barchart.com
On the date of publication, Sneha Nahata 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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Therefore, adopting a strategy of investing in stocks within Berkshire Hathaway's (BRK.A) (BRK.B) portfolio, as curated by Buffett and his team, could prove to be a prudent approach for long-term wealth creation. Additionally, its comparable gross margin increased by approximately 130 basis points for the period, reflecting higher organic sales and benefits from bottler refranchising. Overall, the combined strength of Amazon’s cloud and advertising businesses, its leadership in the e-commerce sector, and a focus on improving profitability through cost reduction are expected to provide a solid foundation for the company’s financial performance.
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Among the 15 analysts covering the stock, 11 advocate a “Strong Buy,” one suggests a “Moderate Buy,” and three advise a “Hold.” Furthermore, the average price target of $64.80 implies approximately 8.4% upside potential from current levels. Among the 40 analysts covering Amazon, 36 recommend a “Strong Buy,” three suggest a “Moderate Buy,” and one advises a "Hold." The average price target among analysts is $174.03, indicating approximately 16.7% upside potential from current levels.
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While Warren Buffett holds significant stakes in quite a few companies, including Apple (AAPL), I’ll focus here on two Buffett stocks analysts are particularly bullish about. Among the 15 analysts covering the stock, 11 advocate a “Strong Buy,” one suggests a “Moderate Buy,” and three advise a “Hold.” Furthermore, the average price target of $64.80 implies approximately 8.4% upside potential from current levels. Overall, the combined strength of Amazon’s cloud and advertising businesses, its leadership in the e-commerce sector, and a focus on improving profitability through cost reduction are expected to provide a solid foundation for the company’s financial performance.
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This was driven by positive volume growth and higher pricing. As for the advertising business, the segment holds significant potential for the company. Overall, the combined strength of Amazon’s cloud and advertising businesses, its leadership in the e-commerce sector, and a focus on improving profitability through cost reduction are expected to provide a solid foundation for the company’s financial performance.
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08e50772-5a42-4e81-b097-7d0fc52a0290
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713903.0
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2023-12-11 00:00:00 UTC
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Ambarella (AMBA) Launches Autonomous Driving Software Stack
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DCOMP
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https://www.nasdaq.com/articles/ambarella-amba-launches-autonomous-driving-software-stack
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nan
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nan
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Ambarella AMBA recently unveiled its autonomous driving (AD) software stack, which was developed by the company’s VisLab Automotive R&D Team and built upon years of investment in data collection through various vehicle fleets.
The standout feature of this new offering, the deep-learning-based planner, is a direct result of these investments. Ambarella’s R&D vehicle team is currently equipped with mono and stereo cameras, along with Ambarella’s Oculii 4D imaging radar, all processed by the CV3-AD system-on-chip (SoC).
Ambarella’s CV3-AD SoC and the AD software stack were designed to work in tandem. However, this does not hinder other automotive customers from utilizing their software intellectual property. It is highly adaptable, allowing automakers to integrate it with their software. AMBA has the capability to offer its complete tool chain to customers, including tools for data collection, simulation and annotation, streamlining development.
Ambarella, Inc. Price and Consensus
Ambarella, Inc. price-consensus-chart | Ambarella, Inc. Quote
Together, the CV3-AD SoC and the recently launched AD software stack deliver optimal performance per watt, utilizing only a small fraction of the SoC’s power while allowing ample room for additional third-party software. This efficiency also contributes to heat management and battery performance.
The AD software stack covers various aspects, from environmental perception to sensor fusion and vehicle path planning. Ambarella's AD software stack does not rely on pre-generated high-definition maps. Instead, it generates HD maps in real time using live data from the vehicle's sensors. This approach offers flexibility and reliability, especially in dynamic scenarios like commute and city-ride.
Ambarella's CV3 SoCs are built to handle demanding AI inference tasks, such as enabling partial or complete autonomy in vehicles. The CV3 SoCs leverage their third-generation AI inference technology for this purpose. These SoCs not only deliver perception processing for multiple camera inputs within a single chip but also enable central processing of low-radar data. This enhances overall perception capabilities in various applications, especially in autonomous vehicles. Ambarella has also gained renown for its top-of-the-line video processing SoCs, setting the benchmark in performance while consuming the least power in this space.
The company is consistently advancing in the creation and distribution of computer video solutions that rely on AI system-on-chips, known as CVFlow. The AI inference processors built on the CVFlow architecture, such as CV3, CV2, CV5, CV25 and CV22 SoCs, are receiving favorable responses from consumers.
Zacks Rank and Stocks to Consider
Ambarella currently carries a Zacks Rank #3 (Hold). Shares of AMBA have declined 24.8% year to date.
Some better-ranked stocks from the broader technology sector are MongoDB MDB, Cloudflare NET and Bel Fuse BELFB. While BELFB sports a Zacks Rank #1 (Strong Buy), MDB and NET carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MongoDB's fourth-quarter 2024 earnings has been revised 10 cents northward to 46 cents per share in the past 30 days. For fiscal 2024, earnings estimates have moved upward by 56 cents to $2.90 per share in the past 30 days.
MDB’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 277.91%. Shares of MDB have gained 108.9% year to date.
The Zacks Consensus Estimate for Clouflare's fourth-quarter 2023 earnings has moved northward by 2 cents to 12 cents in the past 60 days. For fiscal 2023, NET’s earnings estimates have been revised 9 cents upward to 46 cents per share in the past 60 days.
Cloudflare’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.22%. Shares of NET have climbed 77.8% year to date.
The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised upward by 38 cents to $1.44 per share in the past 60 days. For fiscal 2023, earnings estimates have been raised by 72 cents to $6.28 in the past 60 days.
Bel Fuse’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 56.92%. Shares of Bel Fuse have surged 89.2% year to date.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Bel Fuse Inc. (BELFB) : Free Stock Analysis Report
Ambarella, Inc. (AMBA) : Free Stock Analysis Report
MongoDB, Inc. (MDB) : Free Stock Analysis Report
Cloudflare, Inc. (NET) : 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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Ambarella AMBA recently unveiled its autonomous driving (AD) software stack, which was developed by the company’s VisLab Automotive R&D Team and built upon years of investment in data collection through various vehicle fleets. The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised upward by 38 cents to $1.44 per share in the past 60 days. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Ambarella AMBA recently unveiled its autonomous driving (AD) software stack, which was developed by the company’s VisLab Automotive R&D Team and built upon years of investment in data collection through various vehicle fleets. The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised upward by 38 cents to $1.44 per share in the past 60 days. Click to get this free report Bel Fuse Inc. (BELFB) : Free Stock Analysis Report Ambarella, Inc. (AMBA) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report Cloudflare, Inc. (NET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ambarella AMBA recently unveiled its autonomous driving (AD) software stack, which was developed by the company’s VisLab Automotive R&D Team and built upon years of investment in data collection through various vehicle fleets. Ambarella, Inc. Price and Consensus Ambarella, Inc. price-consensus-chart | Ambarella, Inc. Quote Together, the CV3-AD SoC and the recently launched AD software stack deliver optimal performance per watt, utilizing only a small fraction of the SoC’s power while allowing ample room for additional third-party software. Click to get this free report Bel Fuse Inc. (BELFB) : Free Stock Analysis Report Ambarella, Inc. (AMBA) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report Cloudflare, Inc. (NET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ambarella AMBA recently unveiled its autonomous driving (AD) software stack, which was developed by the company’s VisLab Automotive R&D Team and built upon years of investment in data collection through various vehicle fleets. Ambarella, Inc. Price and Consensus Ambarella, Inc. price-consensus-chart | Ambarella, Inc. Quote Together, the CV3-AD SoC and the recently launched AD software stack deliver optimal performance per watt, utilizing only a small fraction of the SoC’s power while allowing ample room for additional third-party software. Ambarella's CV3 SoCs are built to handle demanding AI inference tasks, such as enabling partial or complete autonomy in vehicles.
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f2e83470-4ca8-4c58-bc96-303ea4f2f81c
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713904.0
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2023-12-11 00:00:00 UTC
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Spain's Bizum in mobile payments deal with Italy's Bancomat, Portugal's SIBS
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DCOMP
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https://www.nasdaq.com/articles/spains-bizum-in-mobile-payments-deal-with-italys-bancomat-portugals-sibs
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nan
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nan
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MADRID/MILAN, Dec 14 (Reuters) - Three leading payments companies in Spain, Italy and Portugal on Thursday said they would team up to allow users in the three countries to make instant mobile payments, in a push to help to develop a unified European payments market.
The letter of intent for the accord was signed by Spanish mobile payment firm Bizum, Italy's ATM machine operator Bancomat, which runs online payment service Bancomat Pay, and Portugal's SIBS, owner of mobile payment supplier MB WAY.
The three companies jointly said their accord was open for other European payments providers to join in at a later stage.
Bizum, Bancomat Pay and MB WAY provide person-to-person and person-to-business payments to 42.7 million people in the three countries, who in 2023 made a total of 1.47 billion payments.
Europe's payments market is still fragmented and financial industry supervisors have been calling for more innovation and standardisation across countries.
European companies face competition from U.S. rivals, which include fintech giants such as PayPal or incumbents such as MasterCard MA.N and Visa V.N.
The three companies said that their goal was to allow users to make person-to-person payments already in 2024, and then expand the range of payments they provided through their systems.
Bizum CEO Angel Nigorra said in the statement that digital payments were spreading fast and that to address people's payment needs across countries "interoperability between markets" was essential.
EU electronic payments totalled 240 trillion euros ($258 trillion) in 2021 from 184.2 trillion euros in 2017, boosted by the COVID-19 pandemic, according to the European Commission.
"We hope that this is just the first step for users to have a ... universal mobile payment method for their everyday transactions," he added.
In Spain alone, Bizum has more than 25.3 million active users, with 38 affiliated banks such as Santander SAN.MC and BBVA BBVA.MC, and works with 52,400 outlets.
Highly dependent on consumer spending, the payments sector has seen investors grow increasingly cautious as Europe's economy weakened amid higher interest rates, with top player Worldline's WLN.PAregulatory woes also weighing.
(Reporting by Jesús Aguado and Valentina Za; Editing by Sharon Singleton)
((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.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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European companies face competition from U.S. rivals, which include fintech giants such as PayPal or incumbents such as MasterCard MA.N and Visa V.N. In Spain alone, Bizum has more than 25.3 million active users, with 38 affiliated banks such as Santander SAN.MC and BBVA BBVA.MC, and works with 52,400 outlets. Highly dependent on consumer spending, the payments sector has seen investors grow increasingly cautious as Europe's economy weakened amid higher interest rates, with top player Worldline's WLN.PAregulatory woes also weighing.
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The letter of intent for the accord was signed by Spanish mobile payment firm Bizum, Italy's ATM machine operator Bancomat, which runs online payment service Bancomat Pay, and Portugal's SIBS, owner of mobile payment supplier MB WAY. Bizum, Bancomat Pay and MB WAY provide person-to-person and person-to-business payments to 42.7 million people in the three countries, who in 2023 made a total of 1.47 billion payments. EU electronic payments totalled 240 trillion euros ($258 trillion) in 2021 from 184.2 trillion euros in 2017, boosted by the COVID-19 pandemic, according to the European Commission.
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MADRID/MILAN, Dec 14 (Reuters) - Three leading payments companies in Spain, Italy and Portugal on Thursday said they would team up to allow users in the three countries to make instant mobile payments, in a push to help to develop a unified European payments market. The letter of intent for the accord was signed by Spanish mobile payment firm Bizum, Italy's ATM machine operator Bancomat, which runs online payment service Bancomat Pay, and Portugal's SIBS, owner of mobile payment supplier MB WAY. Bizum, Bancomat Pay and MB WAY provide person-to-person and person-to-business payments to 42.7 million people in the three countries, who in 2023 made a total of 1.47 billion payments.
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Bizum, Bancomat Pay and MB WAY provide person-to-person and person-to-business payments to 42.7 million people in the three countries, who in 2023 made a total of 1.47 billion payments. Europe's payments market is still fragmented and financial industry supervisors have been calling for more innovation and standardisation across countries. The three companies said that their goal was to allow users to make person-to-person payments already in 2024, and then expand the range of payments they provided through their systems.
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63591a1f-3c0f-45dd-bdea-71ce3eb911d4
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713905.0
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2023-12-11 00:00:00 UTC
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Methanex (MEOH) Shares Up 16% YTD: What's Driving the Stock?
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DCOMP
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https://www.nasdaq.com/articles/methanex-meoh-shares-up-16-ytd%3A-whats-driving-the-stock
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nan
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Methanex Corporation’s MEOH shares have rallied 16.3% year to date. The stock outperformed the industry’s fall of 10.5% over the same time frame.
Image Source: Zacks Investment Research
Let’s look at the factors driving this Zacks Rank #2 (Buy) stock.
What’s Going in Methanex’s Favor?
Methanex is benefiting from an increase in methanol demand, which is attributed to the improved market environment and heightened activity in specific sectors, as witnessed during the third quarter. The company recorded a surge in demand in China, fueled by a growing interest in fuel applications. The Methanol-to-Olefins (MTO) sector also experienced improved demand dynamics, with several MTO plants commencing operations in the quarter.
Methanex made significant progress on the Geismar 3 project, aligning seamlessly with the company's outlined plan. This strategic initiative is expected to enhance Methanex's asset portfolio, future cash generation and deliver long-term value to shareholders. The effective management of potential risks is emphasized, with major equipment already on-site, addressing concerns related to supply chain disruptions and inflation.
The projected capital expenditures for the Geismar 3 project are estimated to be between $1.25 billion and $1.3 billion. Additional financial outlays of $140-$190 million have already been secured through available cash reserves. MEOH is optimistic about its robust liquidity position. It anticipates using its strong cash flow generation to fund the Geismar 3 project, with an expectation of timely completion within budget.
The company's proactive approach to capitalizing on rising methanol demand and the strategic advancement of the Geismar 3 project positions it favorably for sustained growth.
With a positive trajectory, the consensus estimate for earnings in the current year has been revised upward by 7% in the past 60 days. The Zacks Consensus Estimate for 2023 earnings is pegged at $2 per share.
Methanex Corporation Price and Consensus
Methanex Corporation price-consensus-chart | Methanex Corporation Quote
Zacks Rank & Other Key Picks
Some other top-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc HWKN and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AXTA’s current-year earnings is pegged at $1.58, indicating year-over-year growth of 6.8%. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 6.7%. The company’s shares have increased 29.9% in the past year.
The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 1.8% in the past 60 days. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 27.5% on average. The stock has rallied around 71.2% in a year.
The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents, indicating a year-over-year surge of 89.3%. AGI beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have surged 47.4% in the past year.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Methanex Corporation (MEOH) : Free Stock Analysis Report
Alamos Gold Inc. (AGI) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
Hawkins, Inc. (HWKN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Methanex is benefiting from an increase in methanol demand, which is attributed to the improved market environment and heightened activity in specific sectors, as witnessed during the third quarter. The effective management of potential risks is emphasized, with major equipment already on-site, addressing concerns related to supply chain disruptions and inflation. The company's proactive approach to capitalizing on rising methanol demand and the strategic advancement of the Geismar 3 project positions it favorably for sustained growth.
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Methanex Corporation Price and Consensus Methanex Corporation price-consensus-chart | Methanex Corporation Quote Zacks Rank & Other Key Picks Some other top-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc HWKN and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2. The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents, indicating a year-over-year surge of 89.3%. Click to get this free report Methanex Corporation (MEOH) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Methanex Corporation Price and Consensus Methanex Corporation price-consensus-chart | Methanex Corporation Quote Zacks Rank & Other Key Picks Some other top-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc HWKN and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 6.7%. Click to get this free report Methanex Corporation (MEOH) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It anticipates using its strong cash flow generation to fund the Geismar 3 project, with an expectation of timely completion within budget. With a positive trajectory, the consensus estimate for earnings in the current year has been revised upward by 7% in the past 60 days. Millions of lithium batteries are being made & demand is expected to increase 889%.
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2dd8381f-91ed-4f01-9227-246b1c95c7f7
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713906.0
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2023-12-11 00:00:00 UTC
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EQT Corp (EQT) to Divest Minority Stake in Marcellus Gas Wells
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https://www.nasdaq.com/articles/eqt-corp-eqt-to-divest-minority-stake-in-marcellus-gas-wells
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EQT Corporation EQT is considering the divestment of a portfolio of minority interests in wells located in Pennsylvania’s Marcellus shale formation, per a Reuters report. The value of this portfolio could exceed $3 billion.
The company is collaborating with an investment bank to conduct an auction for these stakes, commonly referred to as non-operating interests within the energy sector. Non-operating positions entitle holders to a share of the proceeds from the sale of hydrocarbons without assuming responsibility for drilling or other operational activities. However, they are required to contribute their portion of the associated costs.
EQT Corp intends to divest stakes in assets located throughout Northeast Pennsylvania, generating 700 million cubic feet per day in current production. Chesapeake Energy CHK is the operator of these assets, with EQT holding a 25% non-operating interest. Additionally, various other parties possess smaller ownership stakes in these assets.
EQT Corp’s effort to divest its position, primarily acquired through the $3-billion takeover of Alta Resources in 2021, is part of the company’s broader strategy to expedite the reduction of its $5.9-billion debt load and enhance shareholder returns.
The natural gas sector has seen limited deal activity due to subdued demand in the United States, leading to lower commodity prices and diminished confidence in pursuing acquisitions. However, analysts anticipate an uptick in deal flow next year, driven by increasing export demand that is expected to elevate valuations in the sector.
In October, United State-based natural gas producer Chesapeake Energy initiated discussions with rival gas producer Southwestern Energy SWN regarding a potential acquisition.
The discussions between Chesapeake Energy and Southwestern have been on and off for several months, and Chesapeake Energy is anticipated to explore various options, including potential acquisitions. There is also a consideration of pursuing alternative targets.
If negotiations between the two companies materialize, the resulting entity could surpass EQT to become the largest natural gas-focused exploration and production company in the United States in terms of market value.
Zacks Rank & Stocks to Consider
Currently, EQT carries a Zack Rank #3 (Hold).
Investors interested in the energy sector might look at the following companies that presently flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA’s MUSA unique high-volume, low-cost business model helps it retain high profitability, even in the fiercely competitive retail environment.
MUSA remains committed to returning excess cash to its shareholders through continued share buyback programs. As part of this initiative, the fuel retailer recently approved a repurchase authorization of up to $1.5 billion following the completion of the existing $1-billion mandate. The move underscores MUSA’s sound financial position and commitment to reward its shareholders.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report
EQT Corporation (EQT) : Free Stock Analysis Report
Southwestern Energy Company (SWN) : Free Stock Analysis Report
Murphy USA Inc. (MUSA) : 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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EQT Corp intends to divest stakes in assets located throughout Northeast Pennsylvania, generating 700 million cubic feet per day in current production. EQT Corp’s effort to divest its position, primarily acquired through the $3-billion takeover of Alta Resources in 2021, is part of the company’s broader strategy to expedite the reduction of its $5.9-billion debt load and enhance shareholder returns. The natural gas sector has seen limited deal activity due to subdued demand in the United States, leading to lower commodity prices and diminished confidence in pursuing acquisitions.
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Chesapeake Energy CHK is the operator of these assets, with EQT holding a 25% non-operating interest. In October, United State-based natural gas producer Chesapeake Energy initiated discussions with rival gas producer Southwestern Energy SWN regarding a potential acquisition. Click to get this free report Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report EQT Corporation (EQT) : Free Stock Analysis Report Southwestern Energy Company (SWN) : Free Stock Analysis Report Murphy USA Inc. (MUSA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In October, United State-based natural gas producer Chesapeake Energy initiated discussions with rival gas producer Southwestern Energy SWN regarding a potential acquisition. Zacks Rank & Stocks to Consider Currently, EQT carries a Zack Rank #3 (Hold). Click to get this free report Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report EQT Corporation (EQT) : Free Stock Analysis Report Southwestern Energy Company (SWN) : Free Stock Analysis Report Murphy USA Inc. (MUSA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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EQT Corp intends to divest stakes in assets located throughout Northeast Pennsylvania, generating 700 million cubic feet per day in current production. Chesapeake Energy CHK is the operator of these assets, with EQT holding a 25% non-operating interest. The natural gas sector has seen limited deal activity due to subdued demand in the United States, leading to lower commodity prices and diminished confidence in pursuing acquisitions.
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1d8b5481-bf4f-40a3-9fc7-5b96506371d7
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713907.0
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2023-12-11 00:00:00 UTC
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Why Medical Properties Trust Stock Is Soaring Today
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https://www.nasdaq.com/articles/why-medical-properties-trust-stock-is-soaring-today
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Shares of Medical Properties Trust (NYSE: MPW) were soaring 10.9% higher as of 10:59 a.m. ET on Thursday. This marked the second consecutive day of solid gains for the stock after the Federal Reserve indicated that interest rate cuts could be on the way next year.
Granted, this week's rebound doesn't come anywhere close to offsetting Medical Properties Trust's year-to-date decline of close to 50%. However, it's certainly welcome news for shareholders of the beaten-down stock.
Why investors are reconsidering Medical Properties Trust
There's a straightforward reason investors are now taking another look at Medical Properties Trust. The company is organized as a real estate investment trust (REIT). REITs are especially sensitive to interest rate moves. When rates go up, their costs of borrowing can increase, thereby impacting earnings and growth. When rates come down, borrowing costs can fall, boosting earnings and opening up opportunities for more robust growth.
It's also important to understand the dynamics between REITs and bonds. Both are top investment alternatives for income investors. When interest rates decline, bond yields also decline. That makes bonds less attractive to income investors and can make REIT stocks, such as Medical Properties Trust, more appealing.
Is Medical Properties Trust stock a buy?
Risk-averse investors will probably still want to avoid Medical Properties Trust for now. The healthcare REIT isn't out of the woods yet. Its hospital operator tenants continue to face financial challenges. There's also no guarantee the Fed will deliver the highly anticipated rate cuts in 2024.
However, I think Medical Properties Trust is a stock for more aggressive investors seeking income to consider seriously. Its dividend yield of nearly 10.9% is alluring. The company's dividend appears relatively safe after the big cut earlier this year. It's possible (and perhaps even likely) that the worst is over for Medical Properties Trust. If so, the stock could have plenty of room to run over the next few years.
Should you invest $1,000 in Medical Properties Trust right now?
Before you buy stock in Medical Properties Trust, consider this:
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See the 10 stocks
*Stock Advisor returns as of December 11, 2023
Keith Speights has positions in Medical Properties Trust. 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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This marked the second consecutive day of solid gains for the stock after the Federal Reserve indicated that interest rate cuts could be on the way next year. When rates come down, borrowing costs can fall, boosting earnings and opening up opportunities for more robust growth. However, I think Medical Properties Trust is a stock for more aggressive investors seeking income to consider seriously.
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When interest rates decline, bond yields also decline. That makes bonds less attractive to income investors and can make REIT stocks, such as Medical Properties Trust, more appealing. Before you buy stock in Medical Properties Trust, 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 Medical Properties Trust wasn't one of them.
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Why investors are reconsidering Medical Properties Trust There's a straightforward reason investors are now taking another look at Medical Properties Trust. Before you buy stock in Medical Properties Trust, 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 Medical Properties Trust wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 11, 2023 Keith Speights has positions in Medical Properties Trust.
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This marked the second consecutive day of solid gains for the stock after the Federal Reserve indicated that interest rate cuts could be on the way next year. Should you invest $1,000 in Medical Properties Trust right now? Before you buy stock in Medical Properties Trust, 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 Medical Properties Trust wasn't one of them.
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02c71bac-0257-470b-926a-96c11c06b887
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713908.0
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2023-12-11 00:00:00 UTC
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Congress passes $886 billion defense policy bill, Biden to sign into law
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https://www.nasdaq.com/articles/congress-passes-%24886-billion-defense-policy-bill-biden-to-sign-into-law
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Adds final vote count, background, paragraphs 2-5
WASHINGTON, Dec 14 (Reuters) - More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday governing a record $886 billion in annual military spending and authorizing policies such as aid for Ukraine and push back against China in the Indo-Pacific.
The House backed the National Defense Authorization Act, or NDAA, by 310 to 118, with strong support from Republicans and Democrats. It was more than the two-thirds majority required to pass the measure and send it to the White House for President Joe Biden to sign into law.
Separate from the appropriations bills that set government spending levels, the NDAA authorizes everything from pay raises for troops - this year's will be 5.2% - to purchases of ships, ammunition and aircraft.
Because it is one of the few major pieces of legislation that becomes law every year, members of Congress use it as a vehicle for a wide range of initiatives. It is also closely watched by major defense companies, such as Lockheed Martin LMT.N, RTX Corp RTX.N and other firms that receive Department of Defense contracts.
This year's bill is nearly 3,100 pages long, authorizing a record $886 billion, up 3% from last year.
(Reporting by Patricia Zengerle Editing by Bill Berkrot)
((patricia.zengerle@thomsonreuters.com, www.twitter.com/ReutersZengerle; 001-202-898-8390;))
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 final vote count, background, paragraphs 2-5 WASHINGTON, Dec 14 (Reuters) - More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday governing a record $886 billion in annual military spending and authorizing policies such as aid for Ukraine and push back against China in the Indo-Pacific. It was more than the two-thirds majority required to pass the measure and send it to the White House for President Joe Biden to sign into law. Separate from the appropriations bills that set government spending levels, the NDAA authorizes everything from pay raises for troops - this year's will be 5.2% - to purchases of ships, ammunition and aircraft.
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Adds final vote count, background, paragraphs 2-5 WASHINGTON, Dec 14 (Reuters) - More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday governing a record $886 billion in annual military spending and authorizing policies such as aid for Ukraine and push back against China in the Indo-Pacific. The House backed the National Defense Authorization Act, or NDAA, by 310 to 118, with strong support from Republicans and Democrats. Separate from the appropriations bills that set government spending levels, the NDAA authorizes everything from pay raises for troops - this year's will be 5.2% - to purchases of ships, ammunition and aircraft.
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Adds final vote count, background, paragraphs 2-5 WASHINGTON, Dec 14 (Reuters) - More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday governing a record $886 billion in annual military spending and authorizing policies such as aid for Ukraine and push back against China in the Indo-Pacific. Separate from the appropriations bills that set government spending levels, the NDAA authorizes everything from pay raises for troops - this year's will be 5.2% - to purchases of ships, ammunition and aircraft. This year's bill is nearly 3,100 pages long, authorizing a record $886 billion, up 3% from last year.
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Adds final vote count, background, paragraphs 2-5 WASHINGTON, Dec 14 (Reuters) - More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday governing a record $886 billion in annual military spending and authorizing policies such as aid for Ukraine and push back against China in the Indo-Pacific. The House backed the National Defense Authorization Act, or NDAA, by 310 to 118, with strong support from Republicans and Democrats. It was more than the two-thirds majority required to pass the measure and send it to the White House for President Joe Biden to sign into law.
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602d4be3-476a-4b94-9f4b-0b4c4fbd82ea
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713909.0
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2023-12-11 00:00:00 UTC
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Strength Seen in SoFi Technologies, Inc. (SOFI): Can Its 12.5% Jump Turn into More Strength?
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https://www.nasdaq.com/articles/strength-seen-in-sofi-technologies-inc.-sofi%3A-can-its-12.5-jump-turn-into-more-strength
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SoFi Technologies, Inc. (SOFI) shares ended the last trading session 12.5% higher at $8.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.3% gain over the past four weeks.
The price surge can be correlated to the recent announcement by the Federal Reserve holding rates steady right now and indicating three rate cuts in 2024. SoFi’s increasing deposit base provides the company with a more economical funding option for the rapidly expanding loan operations, all while optimizing the net interest margin. The CEO’s confidence in the company’s ability to maintain interest rates at elevated levels for an extended duration compared with competitors, aiming to secure a larger market share provides further assurance to investors.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $574.42 million, up 25.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For SoFi Technologies, Inc., the consensus EPS estimate for the quarter has been revised 100% 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 SOFI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
SoFi Technologies, Inc. is part of the Zacks Technology Services industry. Symbotic Inc. (SYM), another stock in the same industry, closed the last trading session 3% higher at $50.44. SYM has returned 36.4% in the past month.
For Symbotic Inc., the consensus EPS estimate for the upcoming report has changed +36.8% over the past month to -$0.05. This represents a change of +58.3% from what the company reported a year ago. Symbotic Inc. currently has a Zacks Rank of #3 (Hold).
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report
Symbotic Inc. (SYM) : 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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SoFi’s increasing deposit base provides the company with a more economical funding option for the rapidly expanding loan operations, all while optimizing the net interest margin. The CEO’s confidence in the company’s ability to maintain interest rates at elevated levels for an extended duration compared with competitors, aiming to secure a larger market share provides further assurance to investors. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> SoFi Technologies, Inc. is part of the Zacks Technology Services industry. Click to get this free report SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report Symbotic Inc. (SYM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> SoFi Technologies, Inc. is part of the Zacks Technology Services industry. Click to get this free report SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report Symbotic Inc. (SYM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> SoFi Technologies, Inc. is part of the Zacks Technology Services industry. For Symbotic Inc., the consensus EPS estimate for the upcoming report has changed +36.8% over the past month to -$0.05. Symbotic Inc. currently has a Zacks Rank of #3 (Hold).
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713910.0
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2023-12-11 00:00:00 UTC
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Integra (IART) to Advance ENT Division With New Buyout Deal
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https://www.nasdaq.com/articles/integra-iart-to-advance-ent-division-with-new-buyout-deal
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Integra Lifesciences Corporation IART signed a definitive agreement to acquire Acclarent for $275 million in cash at closure. The is subject to normal acquisition price adjustments and an additional $5 million upon the completion of specific regulatory milestones from Johnson & Johnson MedTech firm Ethicon.
It is worth mentioning that Integra will be among the top suppliers of ENT products and technologies following closure. Acclarent is a leading player in ENT procedures.
Financial Details
After the acquisition closes, Integra anticipates providing comprehensive guidance on its financial effects.
It is anticipated that the transaction will be concluded by the second quarter of 2024, subject to usual closing conditions and regulatory clearances. Transition services, including transition manufacturing services, will be offered for a maximum of four years after the closing.
Significance of the Acquisition
The transaction will be integrated into Integra's Codman Specialty Surgical (CSS) business unit. The neurosurgery section is greatly enhanced by the ear, nose and throat (ENT) category, which is a crucial area of strategic importance.
This acquisition presents Integra with a rare opportunity to become a key player in the ENT segment. The ENT segment is an anatomical adjacency to neurosurgery. The acquisition will offer opportunities for ENT and neurosurgeons to collaborate closely on tumor care using skull base approaches.
Image Source: Zacks Investment Research
The acquisition offers a unique chance to expand and take the lead in the desirable ENT device market thanks to Acclarent's well-established commercial scale, well-known brand, distinctive portfolio and active innovation pipeline.
Industry Prospects
Per a report by Grand View Research, the global ENT devices market size was valued at USD 23.0 billion in 2022 and is expected to witness a CAGR of 5.74% from 2023 to 2030. Increasing penetration of minimally invasive ENT procedures, growing prevalence of ENT-related disorders and rising geriatric population are key trends stimulating market growth. Technological advancements also play an important role in the market’s growth.
Progress Within the CSS Arm
Integra sees healthy demand for its industry-leading products within Codman Specialty Surgical (CSS). The segment is benefiting from growing market acceptance of the company’s global neurosurgery line-ups, including CSS management and neuromonitoring. Within CSS management, Integra is experiencing growth banking on strong market adoption of programmable valves and advanced energy (key revenue-generating products are CUSA Capital, Mayfield, DuraGen, Certas Plus programmable valves, Bactiseal catheters and instruments). The company expanded the international reach of the CUSA platform and registered DuraGen, DuraSeal, Mayfield and Duo LED lighting in EMEA and Latin America.
The company also launched DuraGen Plus in China. In CereLink, Integra made progress on resolving the electrical interference issue in its monitors and relaunched it in the international market in the third quarter of 2023. The company also filed an updated 510(k) in the United States in mid-September, with an expected launch of the product early in the first quarter of 2024. Overall, the CSS arm is expected to witness a revenue CAGR of 6.9% from 2021 through 2025.
Price Performance
In the past year, IART’s shares have declined 24.5% compared with the industry’s fall of 2.5%.
Zacks Rank and Key Picks
Integra carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 11.6% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. Shares of the company have plunged 40.9% in the past year compared with the industry’s decline of 7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 7.8% in the past year compared with the industry’s decline of 7.1%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Integra LifeSciences Holdings Corporation (IART) : Free Stock Analysis Report
Haemonetics Corporation (HAE) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: Zacks Investment Research The acquisition offers a unique chance to expand and take the lead in the desirable ENT device market thanks to Acclarent's well-established commercial scale, well-known brand, distinctive portfolio and active innovation pipeline. Industry Prospects Per a report by Grand View Research, the global ENT devices market size was valued at USD 23.0 billion in 2022 and is expected to witness a CAGR of 5.74% from 2023 to 2030. Increasing penetration of minimally invasive ENT procedures, growing prevalence of ENT-related disorders and rising geriatric population are key trends stimulating market growth.
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Within CSS management, Integra is experiencing growth banking on strong market adoption of programmable valves and advanced energy (key revenue-generating products are CUSA Capital, Mayfield, DuraGen, Certas Plus programmable valves, Bactiseal catheters and instruments). While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet presently sports a Zacks Rank #1 (Strong Buy). Click to get this free report Integra LifeSciences Holdings Corporation (IART) : Free Stock Analysis Report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research The acquisition offers a unique chance to expand and take the lead in the desirable ENT device market thanks to Acclarent's well-established commercial scale, well-known brand, distinctive portfolio and active innovation pipeline. Within CSS management, Integra is experiencing growth banking on strong market adoption of programmable valves and advanced energy (key revenue-generating products are CUSA Capital, Mayfield, DuraGen, Certas Plus programmable valves, Bactiseal catheters and instruments). Click to get this free report Integra LifeSciences Holdings Corporation (IART) : Free Stock Analysis Report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Industry Prospects Per a report by Grand View Research, the global ENT devices market size was valued at USD 23.0 billion in 2022 and is expected to witness a CAGR of 5.74% from 2023 to 2030. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days. Millions of lithium batteries are being made & demand is expected to increase 889%.
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237a8e53-adb3-4736-90a6-74d596f3177e
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713911.0
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2023-12-11 00:00:00 UTC
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Foodservice Unit Aids Tyson Foods (TSN), Soft Pork Sales Ail
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https://www.nasdaq.com/articles/foodservice-unit-aids-tyson-foods-tsn-soft-pork-sales-ail
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Tyson Foods Inc. TSN, which boasts a portfolio of impressive brands, is benefiting from its growing foodservice business. Management is undertaking several operational and supply chain efficiency programs to improve itself in the long run. However, TSN continues to battle softness in the Pork segment.
Let’s delve deeper.
Brand Strength & Foodservice Gains
Tyson Foods’ core business lines boast a portfolio of iconic retail brands, including Tyson, Jimmy Dean, Hillshire Farm and Ball Park. In the fourth quarter of fiscal 2023, such brands witnessed volume growth of 3.2% year over year, way ahead of other competitors. Management continues to see market share leadership across most retail categories in terms of pound and dollar share gains. The company intends to stay focused on merchandising and advertising to support its brands.
Speaking of the foodservice business, TSN continues to focus on six categories, including breakfast sausage, value-added chicken, dinner sausage, pepperoni pizza toppings, bacon and Philly Steak. These categories outpaced the broad-line industry in volume growth during the quarter. Management is impressed with its foodservice portfolio, which is likely to keep gaining momentum.
Image Source: Zacks Investment Research
What Else is Working in Tyson Foods’ Favor?
Tyson Foods is investing in capacity expansion and automation technology investments. In this regard, the company continues to accelerate digitalization via supply chain planning and execution processes to enhance customer service. Management is optimizing its plant network by adding fully-cooked capacity, converting plants for value-added production, executing plant flexibility and strengthening the portfolio mix. For the fiscal 2024, management projects capital expenditures to be nearly $1-$1.5 billion. These include spending related to capacity expansion, automation and product and brand innovation.
The company continues to evaluate its production footprint and network to fuel efficiencies. In this regard, management shut down six less efficient chicken plants. Tyson Foods also decided to shut down two smaller fresh meat case-ready value-added facilities.
TSN is focused on efforts to expand into the international markets as part of its strategic growth plan. Recently, management inaugurated a new fully-cooked food production facility in Danville, VA, worth $300 million. This move is in sync with Tyson Foods’ strategy to fuel sustained growth, enhance operational efficiency and invest in its poultry space.
Soft Pork Segment Hurts
Tyson Foods is facing weakness in the Pork segment stemming from supply-and-demand imbalances, which is affecting spreads. Although management is witnessing some improvement in spreads and reduced grain costs, it is still bearing the brunt of the imbalance between the supply and demand of pork. In the fourth quarter of fiscal 2023, sales in the Pork segment fell 7% on reduced pricing amid soft global demand. Segmental volumes dropped 0.2%, while the average price tumbled 6.7%.
TSN’s ongoing productivity initiatives based on procurement, logistics and digitalization are likely to solidify the company’s fundamentals. The Zacks Rank #3 (Hold) stock has gained 4.1% in the past six months against the industry’s decline of 11.2%.
Top-Ranked Staple Stocks
Pilgrim’s Pride PPC, which produces, processes, markets and distributes fresh, frozen and value-added chicken and pork products, sports a Zacks Rank #1 (Strong Buy). Pilgrim’s Pride delivered an earnings surprise of 13.7% in the last reported quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for PPC’s current financial year earnings suggests a decline of 54.2% from the year-ago reported number.
MGP Ingredients, Inc. MGPI produces and markets ingredients and distillery products to the packaged goods industry. The company currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. MGPI has a trailing four-quarter earnings surprise of 16.2% on average.
Celsius Holdings CELH, which offers functional drinks and liquid supplements, carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.6% in the third quarter of 2023.
The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Tyson Foods, Inc. (TSN) : Free Stock Analysis Report
Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report
MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report
Celsius Holdings Inc. (CELH) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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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Top-Ranked Staple Stocks Pilgrim’s Pride PPC, which produces, processes, markets and distributes fresh, frozen and value-added chicken and pork products, sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers. Click to get this free report Tyson Foods, Inc. (TSN) : Free Stock Analysis Report Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Brand Strength & Foodservice Gains Tyson Foods’ core business lines boast a portfolio of iconic retail brands, including Tyson, Jimmy Dean, Hillshire Farm and Ball Park. Top-Ranked Staple Stocks Pilgrim’s Pride PPC, which produces, processes, markets and distributes fresh, frozen and value-added chicken and pork products, sports a Zacks Rank #1 (Strong Buy). Click to get this free report Tyson Foods, Inc. (TSN) : Free Stock Analysis Report Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Management is impressed with its foodservice portfolio, which is likely to keep gaining momentum. The company currently has a Zacks Rank #2 (Buy). Click to get this free report Tyson Foods, Inc. (TSN) : Free Stock Analysis Report Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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2e5c894a-1224-4079-800b-b099727d6319
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713912.0
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2023-12-11 00:00:00 UTC
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Adobe (ADBE) Q4 Earnings & Revenues Beat Estimates, Rise Y/Y
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DCOMP
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https://www.nasdaq.com/articles/adobe-adbe-q4-earnings-revenues-beat-estimates-rise-y-y-1
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Adobe Inc. ADBE released fourth-quarter fiscal 2023 non-GAAP earnings of $4.27 per share, beating the Zacks Consensus Estimate by 3.4%. The figure improved 18.6% on a year-over-year basis.
Total revenues were $5.05 billion, which beat the Zacks Consensus Estimate of $5.01 billion. The figure was up 12% on a reported basis and 13% on a constant currency basis from the year-ago quarter.
Top-line growth was driven by the strong performances of Adobe Creative Cloud, Document Cloud and Experience Cloud. Accelerating subscription revenues also contributed well.
Growing generative artificial intelligence efforts contributed well.
ADBE has gained 85.5% on a year-to-date basis, outperforming the industry’s growth of 56.2%.
Adobe Inc. Price, Consensus and EPS Surprise
Adobe Inc. price-consensus-eps-surprise-chart | Adobe Inc. Quote
Top Line in Detail
Adobe reports revenues under three categories — subscription, product and services & support.
Subscription revenues were $4.76 billion (accounting for 94.3% of total revenues), up 12.5% on a year-over-year basis.
Product revenues totaled $114 million (2.3% of total revenues), down 0.9% year over year.
Services & other revenues were $171 million (3.4% of total revenues), decreasing 3.9% from the prior-year quarter.
Segmental Details
Digital Media: The segment generated revenues of $3.72 billion, which improved 13% on a year-over-year basis. The figure surpassed the Zacks Consensus Estimate of $3.68 billion. The segment comprises Creative Cloud and Document Cloud. Digital Media’s annualized recurring revenues (ARR) increased to $15.2 billion, of which the net new ARR was $569 million.
Creative Cloud generated $3 billion in revenues, up 12% year over year. The figure came ahead of the Zacks Consensus Estimate of $2.98 billion. Creative ARR was $12.37 billion. This was driven by strong momentum across Firefly and Express offerings. The solid momentum of Creative Cloud All Apps subscription across various geographies and emerging markets contributed well. Also, strong sales of Creative Cloud single apps, including imaging photography, were positive. Strength in Frame.io and Adobe Stock was a plus. The company witnessed growing migrations to full-priced offerings by graduating students and back-to-school purchasing owing to rising demand in education.
Document Cloud’s revenues were $721 million, up 16% from the prior-year quarter. The figure came ahead of the consensus mark of $699 million. Document ARR was $2.81 billion. Solid momentum across the Acrobat ecosystem was a positive. Rising Acrobat subscription demand across various markets and geographies contributed well. The growing adoption of PDF link sharing and Sign was another positive. Strength in Acrobat mobile was a plus.
Digital Experience: The segment generated revenues of $1.27 billion, up 10% on a year-over-year basis and ahead of the $1.26 billion consensus mark. Experience Cloud subscription revenues were $1.12 billion, rising 12% from the year-ago quarter. Strong demand for AEP and native apps contributed well. Also, growing bookings across solutions, especially in North America, was a positive. Solid momentum across Data & Insights, Content and Workfront solutions drove top-line growth within the segment. Also, the pipeline for the new GenStudio solution remained a tailwind.
Operating Details
The gross margin was 87.4%, which remained flat on a year-over-year basis.
Adobe incurred operating expenses of $2.7 billion, reflecting an 8.9% year-over-year increase. As a percentage of the total revenues, the figure contracted 130 bps to 52.9%.
The adjusted operating margin was 46.4%, expanding 170 bps year over year.
Balance Sheet & Cash Flow
As of Dec 1, 2023, the cash and short-term investment balance was $7.8 billion, up from $7.5 billion as of Sep 1, 2023. Trade receivables were $2.22 billion, up from $1.85 billion in the fiscal third quarter.
Long-term debt was $3.634 billion at the end of the fiscal fourth quarter compared with $3.633 billion at the end of the fiscal third quarter.
Cash generated from operations was $1.6 billion in the fiscal fourth quarter versus $1.9 billion in the fiscal third quarter. In the reported quarter, the company repurchased 1.8 million shares.
Guidance
For first-quarter fiscal 2024, Adobe projects total revenues between $5.10 billion and $5.15 billion. The Zacks Consensus Estimate for the same is pegged at $5.09 billion.
Adobe expects Digital Media revenues between $3.77 billion and $3.80 billion. The Digital Experience segment’s revenues are expected to be between $1.27 billion and $1.29 billion.
Net new ARR in the Digital Media segment is projected to be $410 million. Subscription revenues of Digital Experience are anticipated to be between $1.14 and $1.16 billion.
Management expects non-GAAP earnings between $4.35 and $4.40 per share. The consensus mark for the same is pinned at $4.24.
For fiscal 2024, Adobe projects total revenues between $21.30 billion and $21.50 billion. The Zacks Consensus Estimate for the same is pegged at $21.62 billion.
Adobe expects Digital Media revenues between $15.75 billion and $15.85 billion. The Digital Experience segment’s revenues are expected to be between $5.275 billion and $5.375 billion.
Net new ARR in the Digital Media segment is projected to be $1.90 billion. Subscription revenues of Digital Experience are anticipated to be within $4.75-$4.80 billion.
Management expects non-GAAP earnings between $17.60 and $18.00 per share. The consensus mark for the same is pinned at $17.86.
Zacks Rank & Stocks to Consider
Currently, Adobe carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and NVIDIA NVDA. While Badger Meter currently sports a Zacks Rank #1 (Strong Buy), Arista Networks and NVIDIA each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 37.8% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Shares of Arista Networks have surged 75.9% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 19.77%.
Shares of NVIDIA have gained 167.4% in the year-to-date period. NVDA’s long-term earnings growth rate is currently projected at 13.5%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : 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 company witnessed growing migrations to full-priced offerings by graduating students and back-to-school purchasing owing to rising demand in education. Some better-ranked stocks in the broader technology sector are Badger Meter BMI, Arista Networks ANET and NVIDIA NVDA. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Segmental Details Digital Media: The segment generated revenues of $3.72 billion, which improved 13% on a year-over-year basis. While Badger Meter currently sports a Zacks Rank #1 (Strong Buy), Arista Networks and NVIDIA each carry a Zacks Rank #2 (Buy) at present. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Total revenues were $5.05 billion, which beat the Zacks Consensus Estimate of $5.01 billion. Digital Experience: The segment generated revenues of $1.27 billion, up 10% on a year-over-year basis and ahead of the $1.26 billion consensus mark. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Digital Experience: The segment generated revenues of $1.27 billion, up 10% on a year-over-year basis and ahead of the $1.26 billion consensus mark. Experience Cloud subscription revenues were $1.12 billion, rising 12% from the year-ago quarter. For fiscal 2024, Adobe projects total revenues between $21.30 billion and $21.50 billion.
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713913.0
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2023-12-11 00:00:00 UTC
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Expansion Efforts Aids Dave & Buster's (PLAY), High Costs Ail
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https://www.nasdaq.com/articles/expansion-efforts-aids-dave-busters-play-high-costs-ail
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Dave & Buster's Entertainment, Inc. PLAY is benefiting from robust expansion efforts and strategic initiatives. Also, the emphasis on digitalization and marketing efforts bodes well. However, high costs and economic risks are a concern.
On Dec 13, PLAY touched a new 52-week high of $48.75. The stock pulled back to end the trading session at $48.30, up 4.18% from the previous day’s closing price of $46.36. In the past three months, the stock has rallied 32% compared with the Zacks Retail – Restaurants industry’s 5.6% growth.
The Zacks Rank #3 (Hold) company’s earnings and sales in the fiscal 2024 are likely to witness growth of 13.1% and 14.3% year over year, respectively. Earnings estimates for the fiscal 2024 have increased in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Image Source: Zacks Investment Research
Let’s check the factors supporting positive investor sentiments amid ongoing headwinds.
Solid Expansion Efforts: PLAY maintains a focused approach to expanding its store presence in new and existing markets, leveraging the widespread popularity of its brand. During the third quarter of fiscal 2023, the company opened two new stores and one new Main Event store. Subsequent to quarter-end, the company opened new stores in Colorado Springs, CO, Lafayette, LA, and Pooler, GA. Following the openings, the company reported solid performances. In the fiscal 2023, the company intends to open 16 new stores (including 11 Dave & Buster's and 5 Main Event locations) and relocate Dave & Buster's Vernon Hills store.
To ensure a successful global expansion, the company announced two significant deals in India and Australia. The company recently inked a deal with the Malpani Group to open 15 new stores in India. It partnered with the NightOwl Entertainment Group to open five stores in Australia. These strategic moves mark the company’s second and third multi-store franchise agreements in the APAC and MEA regions, respectively. The move is in line with the commitment made during the global expansion plans announced in 2022.
Strategic Initiatives to Boost Sales: The company is committed to streamlining store operations, enhancing guest experiences and improving food, beverage and entertainment offerings for increased sales and profitability. The company actively organizes programmed events in specific markets to expand its entertainment options and plans to introduce new games. Additionally, strong mobile web adoption exceeded PLAY's expectations.
The company increased its focus on the menu with a multiphase approach. During the fiscal third quarter, it initiated the testing of Phase 2 of Dave & Buster's menu, focusing on operational execution (by removing unnecessary complexity) and speed of service improvement. During the testing period, the company reported a 5% increase in food and beverage revenue per check, a 100-basis point improvement in F&B cost of sales and improved speed of service. The company intends to launch the menu system-wide in April 2024. Also, the company initiated testing of Phase 3 to increase its F&B sales further. Backed by strong results, the company is optimistic and anticipates it will drive growth in the upcoming periods.
Focus on Digitalization: The company emphasizes its data and digital innovation capabilities to drive relevancy, media efficiency and tech-enabled hospitality. In November 2023, the company initiated the domestic rollout of OneDine server tablets. The initiative allows guest-facing team members to execute orders and the closing of transactions from the palm of their hands. By 2023-end, it intends to have 61 D&B stores with updated IT infrastructure and anticipates completing the rollout in the fiscal 2024.
The emphasis on the D&B loyalty program bodes well. The company anticipates the program will add relevance to its mobile app and drive higher engagement as it enables guests to complete challenges and earn rewards.
Concerns
A challenging macro environment, including inflationary pressures on labor and commodities, continues to affect it. The company anticipates headwinds to persist in the next few quarters. Industry players expect to witness higher costs for quite some time due to labor and supply-chain shortages. The company has been witnessing labor challenges in a handful of markets. In the first nine months of fiscal 2023, total operating expenses were $1,389.2 million, up from $1,215.4 million reported in the year-ago period.
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 12.4% 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 230.4% in the past year.
The Zacks Consensus Estimate for ANF’s 2023 sales and EPS suggests increases of 13.3% and 2,196%, 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 risen 37.6% in the past year.
The Zacks Consensus Estimate for BECN’s 2023 sales and EPS indicates 7.2% and 9% growth, respectively, from the year-ago period’s levels.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Dave & Buster's Entertainment, Inc. (PLAY) : 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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Solid Expansion Efforts: PLAY maintains a focused approach to expanding its store presence in new and existing markets, leveraging the widespread popularity of its brand. During the fiscal third quarter, it initiated the testing of Phase 2 of Dave & Buster's menu, focusing on operational execution (by removing unnecessary complexity) and speed of service improvement. The company anticipates the program will add relevance to its mobile app and drive higher engagement as it enables guests to complete challenges and earn rewards.
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In the fiscal 2023, the company intends to open 16 new stores (including 11 Dave & Buster's and 5 Main Event locations) and relocate Dave & Buster's Vernon Hills store. Strategic Initiatives to Boost Sales: The company is committed to streamlining store operations, enhancing guest experiences and improving food, beverage and entertainment offerings for increased sales and profitability. 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 Dave & Buster's Entertainment, Inc. (PLAY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank #3 (Hold) company’s earnings and sales in the fiscal 2024 are likely to witness growth of 13.1% and 14.3% year over year, respectively. In the fiscal 2023, the company intends to open 16 new stores (including 11 Dave & Buster's and 5 Main Event locations) and relocate Dave & Buster's Vernon Hills store. 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 Dave & Buster's Entertainment, Inc. (PLAY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank #3 (Hold) company’s earnings and sales in the fiscal 2024 are likely to witness growth of 13.1% and 14.3% year over year, respectively. During the fiscal third quarter, it initiated the testing of Phase 2 of Dave & Buster's menu, focusing on operational execution (by removing unnecessary complexity) and speed of service improvement. The company has been witnessing labor challenges in a handful of markets.
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2023-12-11 00:00:00 UTC
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Southwest (LUV) Stock Down 3.8% on High Fuel Price View for Q4
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DCOMP
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https://www.nasdaq.com/articles/southwest-luv-stock-down-3.8-on-high-fuel-price-view-for-q4
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Shares of Southwest Airlines Co. (LUV) declined 3.8% on Dec 13, closing the trading session at $29.15. The downside was owing to the unfavorable fuel price guidance provided by Southwest Airlines for the fourth quarter. Notably, LUV has raised its fourth-quarter economic fuel costs per gallon guidance to between $3.00 and $3.10 (prior view: $2.90 to $3.00).
LUV continues to expect the cost per available seat mile (CASM, excluding fuel, oil and profit-sharing expenses, and special items) to decrease 16-19% in the fourth quarter from the comparable period in 2022. Interest expenses are still expected to be $63 million in the fourth quarter.
On the contrary, LUV is enjoying favorable air travel demand and yield. The company has witnessed solid leisure demand with record revenues during the Thanksgiving holiday period and better-than-expected close-in bookings, including managed business bookings, during the months of November and December so far.
Backed by this uptick, Southwest Airlines now expects fourth-quarter unit revenues to improve to the better end of its previous guidance range. LUV continues to expect record fourth-quarter operating revenues and passengers.
Revenue per available seat mile (RASM) for the December quarter is now expected to decline 9-10% (prior view: 9-11%). LUV continues to expect its fourth-quarter available seat miles (ASMs or capacity) to improve 21% from the year-ago period.
Notably, the record-breaking traffic during the Thanksgiving period has provided a much-needed boost to the airline stock after a few tough months due to headwinds like high labor and fuel costs and a slowdown in domestic air travel demand.
For 2023, Southwest continues to expect capacity to improve 14-15% from the 2022 level.
Further, LUV continues to anticipate first-quarter 2024 capacity to register year-over-year growth of 10-12% and 2024 capacity to register growth of 6-8%.
Management expects capacity beyond 2024 to grow in the low to mid-single-digit range (in percentage terms), down from the earlier stated mid-single-digit rise. The change in expectation is aimed at aiding LUV’s long-term financial target to deliver after-tax return on invested capital well above the weighted average cost of capital.
Zacks Rank and Stocks to Consider
Currently, Southwest Airlines carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Transportation sector are Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation WAB and SkyWest, Inc. SKYW. Each stock presently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wabtec has an expected earnings growth rate of 22.02% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 5.1% over the past 90 days. Shares of WAB have gained 21.8% year to date.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s current-year earnings has improved 31.5% over the past 90 days. Shares of SKYW have surged 202.1% year to date.
SKYW delivered a trailing four-quarter earnings surprise of 32.57%, on average.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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Southwest Airlines Co. (LUV) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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LUV continues to expect the cost per available seat mile (CASM, excluding fuel, oil and profit-sharing expenses, and special items) to decrease 16-19% in the fourth quarter from the comparable period in 2022. Notably, the record-breaking traffic during the Thanksgiving period has provided a much-needed boost to the airline stock after a few tough months due to headwinds like high labor and fuel costs and a slowdown in domestic air travel demand. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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LUV continues to expect record fourth-quarter operating revenues and passengers. Some better-ranked stocks from the Zacks Transportation sector are Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation WAB and SkyWest, Inc. SKYW. Click to get this free report Southwest Airlines Co. (LUV) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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LUV continues to expect the cost per available seat mile (CASM, excluding fuel, oil and profit-sharing expenses, and special items) to decrease 16-19% in the fourth quarter from the comparable period in 2022. Zacks Rank and Stocks to Consider Currently, Southwest Airlines carries a Zacks Rank #3 (Hold). Click to get this free report Southwest Airlines Co. (LUV) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Notably, LUV has raised its fourth-quarter economic fuel costs per gallon guidance to between $3.00 and $3.10 (prior view: $2.90 to $3.00). Revenue per available seat mile (RASM) for the December quarter is now expected to decline 9-10% (prior view: 9-11%). For 2023, Southwest continues to expect capacity to improve 14-15% from the 2022 level.
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51560144-9813-44df-80e0-2853f7e5850e
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713915.0
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2023-12-11 00:00:00 UTC
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Strong Balance Sheet Aids Citizens Financial (CFG) Amid High Cost
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https://www.nasdaq.com/articles/strong-balance-sheet-aids-citizens-financial-cfg-amid-high-cost
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Citizens Financial Group, Inc. CFG has a healthy balance sheet position. The company’s balance sheet optimization (BSO) plans involve the reduction of its non-core loan portfolio to focus on relationship-based lending. Solid liquidity and a strong capital base indicate sustainable capital distributions. Yet, a rising cost base limits bottom-line growth. Also, the performance of the mortgage banking business is expected to be subdued in the near term.
Its loans and deposits saw a compound annual growth rate (CAGR) of 7.6% and 10.9%, respectively, over the last four years (2018-2022). However, both metrics declined in the first nine months of 2023. Nonetheless, the bank has been enhancing its deposit base by advancing its deposit-gathering capabilities.
Further, its BSO plan includes the reduction of its non-core loan portfolio from $12.3 billion as of the third-quarter 2023 end to $4.7 billion as of the 2025 end. The sale proceeds will be used to improve core liquidity and support organic relationship-based loan growth of its core portfolio. The company projects $11 billion and $9 billion in deposits and loans, respectively, over the medium term.
Also, the bank’s long-term strategy involves growth in wealth management offerings, improvement of capabilities in the high-net-worth segment and expansion into key markets. In October 2023, it launched the Citizens Private Bank, enhancing its operations in the wealth management space. The company plans to open six private banking offices in 2023 and throughout 2024. Management believes that Citizens Private Bank will reach breakeven in the second half of 2024 and will be accretive to earnings by 5% in 2025.
Citizens Financial’s focus on executing a series of revenue and efficiency initiatives led to the introduction of the “Tapping Our Potential” (TOP) program in late 2014. The company plans to launch its TOP 9 program, along with a major cost reduction initiative. The TOP 9 program will focus on the simplification of organizational structure and procurement efficiencies, and include artificial intelligence into its operations. Amid the weak macroeconomic conditions, efforts to augment efficiencies will preserve returns.
Escalating expenses are the key downsides for Citizens Financial. The company’s non-interest expenses witnessed a CAGR of 7.8% over the last four years (2018-2022), with the momentum continuing in the first nine months of 2023. Costs are likely to remain elevated in the upcoming period due to the opening of private banking offices, franchise expansion nationally and investments in newer technological advancements.
Uncertainty about the performance of Citizens Financial’s mortgage banking business is another concern. While the company’s mortgage banking fees increased in 2020, supported by low mortgage rates, the same witnessed a decline at a CAGR of 4.7% from 2019 to 2022, with the downtrend persisting in the first nine months of 2023. High mortgage rates have been adversely impacting mortgage origination volumes and refinancing activities. For 2023, we expect mortgage banking fees to decline 5.7%.
The loan portfolio of Citizens Financial contains a high amount of commercial loans (51.7% of the total loans and leases as of Sep 30, 2023). The current rapidly changing macroeconomic backdrop may put some strain on commercial lending. Thus, the lack of loan portfolio diversification is likely to hurt the company’s financials if the economic situation worsens.
Over the past six months, shares of this Zacks Rank #3 (Hold) company have rallied 32.3%, outperforming the industry's 13% rise.
Image Source: Zacks Investment Research
Bank Stocks Worth a Look
A couple of better-ranked stocks from the banking space are WSFS Financial Corporation WSFS and Byline Bancorp BY.
Earnings estimates for WSFS have been unchanged for 2023 over the past 30 days at $4.47. The company’s shares have gained 13.2% over the past six months. WSFS Financial currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Byline Bancorp’s earnings estimates have moved 1.4% north for the current year at $2.83 over the past 30 days. In six months’ time, BY’s shares have gained 18.8%. The company carries a Zacks Rank #2 at present.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
WSFS Financial Corporation (WSFS) : Free Stock Analysis Report
Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report
Byline Bancorp, Inc. (BY) : 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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Citizens Financial’s focus on executing a series of revenue and efficiency initiatives led to the introduction of the “Tapping Our Potential” (TOP) program in late 2014. Costs are likely to remain elevated in the upcoming period due to the opening of private banking offices, franchise expansion nationally and investments in newer technological advancements. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The company’s balance sheet optimization (BSO) plans involve the reduction of its non-core loan portfolio to focus on relationship-based lending. The sale proceeds will be used to improve core liquidity and support organic relationship-based loan growth of its core portfolio. Click to get this free report WSFS Financial Corporation (WSFS) : Free Stock Analysis Report Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report Byline Bancorp, Inc. (BY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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While the company’s mortgage banking fees increased in 2020, supported by low mortgage rates, the same witnessed a decline at a CAGR of 4.7% from 2019 to 2022, with the downtrend persisting in the first nine months of 2023. Image Source: Zacks Investment Research Bank Stocks Worth a Look A couple of better-ranked stocks from the banking space are WSFS Financial Corporation WSFS and Byline Bancorp BY. Click to get this free report WSFS Financial Corporation (WSFS) : Free Stock Analysis Report Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report Byline Bancorp, Inc. (BY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company’s balance sheet optimization (BSO) plans involve the reduction of its non-core loan portfolio to focus on relationship-based lending. The company plans to launch its TOP 9 program, along with a major cost reduction initiative. Image Source: Zacks Investment Research Bank Stocks Worth a Look A couple of better-ranked stocks from the banking space are WSFS Financial Corporation WSFS and Byline Bancorp BY.
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be8bc71d-add1-4d17-b2c1-f6115ff92226
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713916.0
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2023-12-11 00:00:00 UTC
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FDA Updates Labels of Esperion's (ESPR) Cholesterol-Lowering Drugs
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https://www.nasdaq.com/articles/fda-updates-labels-of-esperions-espr-cholesterol-lowering-drugs
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Shares of Esperion ESPR were up 4% in after-market trading on Dec 13 after it announced that the FDA updated the labels on its LDL-cholesterol (LDL-C) lowering drugs Nexletol and Nexlizet.
The updated labeling in both of Esperion’s drugs adds the treatment of primary hyperlipidemia (high cholesterol) as a qualifier for existing approved populations while removing the statin limitation. These updates to the Nexletol and Nexlizet labels are effective immediately.
The FDA also removed the prior limitation of use, stating ‘the effect of Nexlizet or Nexletol on cardiovascular morbidity and mortality has not been determined.’
Year to date, shares of Esperion have plunged 75.8% compared to the industry’s 5.9% fall.
Image Source: Zacks Investment Research
In June, Esperion submitted supplemental new drug applications (sNDAs) with the FDA seeking label expansion for Nexletol and Nexlizet in cardiovascular (CV) risk-reduction indications. A final decision is expected by Mar 31, 2024.
In Europe, Nexletol is available as Nilemdo and Nexlizet is marketed as Nustendi. Esperion has an agreement with Daiichi Sankyo Europe for commercialization rights to Nilemdo and Nustendi in Europe.
In June, regulatory filings were also submitted to the European Medicines Agency (EMA) seeking label expansion for Nilemdo and Nustendi in CV risk reduction indications. A final decision is expected in first-half 2024.
The submissions with the FDA and EMA are based on data from the phase III CLEAR Cardiovascular Outcomes study wherein treatment with bempedoic acid (which is contained in Nexletol and Nexlizet) can significantly reduce CV risk across a range of primary and second endpoints.
Esperion Therapeutics, Inc. Price
Esperion Therapeutics, Inc. price | Esperion Therapeutics, Inc. Quote
Zacks Rank & Key Picks
Esperion currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the overall healthcare sector include Galapagos GLPG, Novo Nordisk NVO, and Ocuphire Pharma OCUP, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, Galapagos’ estimates for 2023 have improved from a loss of $1.96 per share to 79 cents. During the same period, loss estimates per share for 2024 have narrowed from $3.22 to $1.68. Galapagos’ shares have lost 9.3% in the year-to-date period.
Galapagos’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 91.97%. In the last reported quarter, Galapagos’ earnings beat estimates by 140.78%.
In the past 60 days, 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 46.2% in the year-to-date period.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’s earnings beat estimates by 5.80%.
In the past 60 days, Ocuphire’s estimates for 2023 have improved from a loss of 60 cents per share to 42 cents. During the same period, loss estimates per share for 2024 have narrowed from 85 cents to 57 cents. Shares of Ocuphire have lost 23.8% in the year-to-date period.
Ocuphire’s earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an earnings surprise of 59.28%. In the last reported quarter, Ocuphire’s earnings beat estimates by 178.13%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Esperion Therapeutics, Inc. (ESPR) : Free Stock Analysis Report
Galapagos NV (GLPG) : Free Stock Analysis Report
Ocuphire Pharma, Inc. (OCUP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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 FDA also removed the prior limitation of use, stating ‘the effect of Nexlizet or Nexletol on cardiovascular morbidity and mortality has not been determined.’ Year to date, shares of Esperion have plunged 75.8% compared to the industry’s 5.9% fall. Image Source: Zacks Investment Research In June, Esperion submitted supplemental new drug applications (sNDAs) with the FDA seeking label expansion for Nexletol and Nexlizet in cardiovascular (CV) risk-reduction indications. The submissions with the FDA and EMA are based on data from the phase III CLEAR Cardiovascular Outcomes study wherein treatment with bempedoic acid (which is contained in Nexletol and Nexlizet) can significantly reduce CV risk across a range of primary and second endpoints.
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Image Source: Zacks Investment Research In June, Esperion submitted supplemental new drug applications (sNDAs) with the FDA seeking label expansion for Nexletol and Nexlizet in cardiovascular (CV) risk-reduction indications. Esperion Therapeutics, Inc. Price Esperion Therapeutics, Inc. price | Esperion Therapeutics, Inc. Quote Zacks Rank & Key Picks Esperion currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the overall healthcare sector include Galapagos GLPG, Novo Nordisk NVO, and Ocuphire Pharma OCUP, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Esperion Therapeutics, Inc. (ESPR) : Free Stock Analysis Report Galapagos NV (GLPG) : Free Stock Analysis Report Ocuphire Pharma, Inc. (OCUP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research In June, Esperion submitted supplemental new drug applications (sNDAs) with the FDA seeking label expansion for Nexletol and Nexlizet in cardiovascular (CV) risk-reduction indications. Esperion Therapeutics, Inc. Price Esperion Therapeutics, Inc. price | Esperion Therapeutics, Inc. Quote Zacks Rank & Key Picks Esperion currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the overall healthcare sector include Galapagos GLPG, Novo Nordisk NVO, and Ocuphire Pharma OCUP, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Esperion Therapeutics, Inc. (ESPR) : Free Stock Analysis Report Galapagos NV (GLPG) : Free Stock Analysis Report Ocuphire Pharma, Inc. (OCUP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research In June, Esperion submitted supplemental new drug applications (sNDAs) with the FDA seeking label expansion for Nexletol and Nexlizet in cardiovascular (CV) risk-reduction indications. In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.62. Millions of lithium batteries are being made & demand is expected to increase 889%.
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ce2e60f0-431c-4968-9b93-fede12f443ab
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713917.0
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2023-12-11 00:00:00 UTC
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Amgen's (AMGN) Tarlatamab BLA Gets FDA Priority Tag for SCLC
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https://www.nasdaq.com/articles/amgens-amgn-tarlatamab-bla-gets-fda-priority-tag-for-sclc
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Amgen Inc. AMGN announced that the FDA has accepted its biologics license application (BLA) seeking approval for investigational therapy, tarlatamab. for third-line treatment of advanced small cell lung cancer (SCLC).
With the FDA granting a priority review to BLA, a decision from the regulatory body is expected on Jun 12, 2024.
Tarlatamab is an investigational delta-like ligand 3 targeting Bispecific T-cell Engager (BiTE) therapy, which is being studied for the treatment of adult patients with advanced SCLC whose disease has progressed on or after treatment with platinum-based chemotherapy.
If approved for the given indication, tarlatamab is likely to become the first BiTE therapy to treat third-line advanced SCLC. Currently, there is no FDA-approved therapy for the given indication.
The above BLA was based on data from the phase II DeLLphi-301 study, which evaluated tarlatamab for treating patients with advanced-stage SCLC who had failed two or more prior lines of treatment.
Shares of Amgen have rallied 5.8% in the past year against the industry’s decline of 21.5%.
Image Source: Zacks Investment Research
In October 2023, Amgen announced data from the phase II DeLLphi-301 study. In a median follow-up of 10.6 months, an intention-to-treat analysis that included 100 patients at the selected 10 mg dose, tarlatamab demonstrated an objective response rate (ORR; primary endpoint) of 40%. For key secondary endpoints, median progression-free survival (mPFS) was 4.9 months and median overall survival (mOS) was 14.3 months.
Per the company, SCLC patients often experience aggressive recurrences despite showing strong response in first-line treatment, which adversely impacts long-term survival. Upon potential approval, tarlatamab is likely to offer a new treatment option for the given patient population.
The FDA has already granted Breakthrough Therapy designation to tarlatamab for advanced-stage SCLC.
Several studies are currently ongoing on tarlatamab both as monotherapy and in combination in earlier/second or later line setting in SCLC.
The phase Ib DeLLphi-302 study is evaluating tarlatamab in combination with an anti-PD-1 therapy in second-line or later SCLC. Another phase Ib DeLLphi-303 study is investigating tarlatamab in combination with standard-of-care therapies in first-line SCLC. The phase III DeLLphi-304 is evaluating tarlatamab monotherapy versus standard-of-care chemotherapy in second-line SCLC. The phase III DeLLphi-306 study is evaluating tarlatamab, following chemoradiotherapy in earlier settings of SCLC. Meanwhile, the phase Ib DeLLpro-300 is evaluating tarlatamab in de novo or treatment-emergent neuroendocrine prostate cancer.
Amgen also plans to initiate another phase III study of tarlatamab in first-line SCLC.
Zacks Rank & Stocks to Consider
Amgen currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Journey Medical Corporation DERM, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Journey Medical’s 2023 loss per share have narrowed from $1.28 to 16 cents. Meanwhile, loss per share estimates for 2024 have narrowed from 41 cents to 35 cents. In the past year, shares of DERM have surged 340.8%.
Earnings of Journey Medical beat estimates in one of the last four quarters while missing the same on the remaining three occasions. DERM delivered a four-quarter earnings surprise of 118.25%, on average.
In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $2.35 to $2.04. In the past year, shares of TRDA have decreased 32.6%.
Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 64 cents. In the past year, shares of PBYI have lost 18.5%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
Journey Medical Corporation (DERM) : Free Stock Analysis Report
Entrada Therapeutics, Inc. (TRDA) : 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 above BLA was based on data from the phase II DeLLphi-301 study, which evaluated tarlatamab for treating patients with advanced-stage SCLC who had failed two or more prior lines of treatment. In a median follow-up of 10.6 months, an intention-to-treat analysis that included 100 patients at the selected 10 mg dose, tarlatamab demonstrated an objective response rate (ORR; primary endpoint) of 40%. Some better-ranked stocks in the healthcare sector are Journey Medical Corporation DERM, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy).
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Another phase Ib DeLLphi-303 study is investigating tarlatamab in combination with standard-of-care therapies in first-line SCLC. Some better-ranked stocks in the healthcare sector are Journey Medical Corporation DERM, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Amgen Inc. (AMGN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Journey Medical Corporation (DERM) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Tarlatamab is an investigational delta-like ligand 3 targeting Bispecific T-cell Engager (BiTE) therapy, which is being studied for the treatment of adult patients with advanced SCLC whose disease has progressed on or after treatment with platinum-based chemotherapy. In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. Click to get this free report Amgen Inc. (AMGN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Journey Medical Corporation (DERM) : Free Stock Analysis Report Entrada Therapeutics, Inc. (TRDA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The phase Ib DeLLphi-302 study is evaluating tarlatamab in combination with an anti-PD-1 therapy in second-line or later SCLC. Another phase Ib DeLLphi-303 study is investigating tarlatamab in combination with standard-of-care therapies in first-line SCLC. In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents.
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8abcfc21-7a0b-45d9-bb09-8027ec65aeba
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713918.0
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2023-12-11 00:00:00 UTC
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Fed Sees Three Rate Cuts in 2024: 4 Homebuilding Stocks to Watch
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https://www.nasdaq.com/articles/fed-sees-three-rate-cuts-in-2024%3A-4-homebuilding-stocks-to-watch
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The housing market is finally catching a break. The recent decision by the Federal Reserve to keep key interest rates steady is a positive signal for the homebuilding sector, offering a breath of fresh air amid economic uncertainties. With the inflation rate showing signs of easing and the economy holding its ground, the Federal Open Market Committee's unanimous vote to maintain the benchmark in a targeted range between 5.25% and 5.5% provides stability for homebuilders.
Policymakers on the Federal Open Market Committee, anticipating further economic developments, have not only decided to hold the current interest rates but have also hinted at potential rate cuts in the coming year. The committee members expect at least three rate cuts in 2024.
The committee's graphical representation of individual members' expectations, known as the "dot plot," suggests an anticipated four additional rate cuts in 2025. Further, three more reductions projected for 2026 would potentially lower the fed funds rate to a range of 2%-2.25%, approaching the long-term outlook and providing a more optimistic outlook for the housing market compared to earlier indications.
These advancements unfold against an improving backdrop of the inflation scenario. The Consumer Price Index, a key indicator, rose 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported on Dec 12. Fed officials project a gradual decline in core inflation over the next few years, reaching the 2% target by 2026. This paints a brighter picture of the overall economic landscape and, in particular, the housing market.
How Builders Are Playing the Market
Homebuilders have been quick to adapt to the evolving market conditions. One significant strategy employed by many is offering mortgage rate buydowns, where builders cover upfront costs to lower loan rates. This approach not only attracts potential buyers but also aligns with the current low-rate environment, further fueling the demand for new homes.
Meanwhile, large public homebuilders, benefiting from their scale and capital advantages, continue to thrive, particularly in entry-level price points and urban fringe markets. The ability to build spec houses, even in the absence of a confirmed buyer, underscores the resilience of these industry giants.
Despite the challenges posed by high labor and land costs, homebuilders remain optimistic about expansion. Toll Brothers, Inc. TOL, a leading player in the market, has outlined plans to grow its communities by approximately 10% in 2024. The aim is to be well-prepared with inventory when a potential drop in rates coincides with the spring selling season, showcasing strategic foresight amid market fluctuations.
2024: A Promising Horizon for Housing Market
As we look ahead to 2024, the housing market stands on a more solid foundation, supported by the Federal Reserve's decision to maintain interest rates and its optimistic outlook on economic indicators. Homebuilders, armed with strategic moves and a keen eye on market dynamics, are poised to navigate challenges and capitalize on emerging opportunities, creating a promising horizon for the industry in the coming year.
Various homebuilding companies have been registering gains from the positive momentum of the industry. Notable among them are Dream Finders Homes, Inc. DFH, Lennar Corporation LEN, Toll Brothers and D.R. Horton DHI.
Key Homebuilding Stocks
Investors’ decision to keep a close eye on some homebuilding stocks seems to be a judicious move at this point, given solid demand and an improving macro scenario.
Dream Finders Homes: This Jacksonville, FL-based company’s land-light operating model and strategic position in high-growth markets, providing affordable homes to entry-level, first and second-time move-up homebuyers, are tailwinds. Also, the build-for-rent platform provides a consistent home deliveries pipeline, which is less susceptible to temporary changes in demand from individual homebuyers.
DFH — a Zacks Rank #2 (Buy) stock — has rallied 186.9% in the past year, outperforming the Zacks Building Products - Home Builders industry’s 65.2% jump. The Zacks Consensus Estimate for its 2024 earnings has been upwardly revised to $2.62 from $2.61 over the past 30 days. The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, the average being 131.6%.
Lennar: Based in Miami, FL, Lennar is engaged in homebuilding and financial services in the United States. The company is reaping the rewards of its digital marketing efforts and a flexible pricing approach. Additionally, its strategy of minimizing land holdings and implementing efficient cost-saving methods has been advantageous.
LEN — a Zacks Rank #2 stock — has gained 59.9% in the past year. Earnings estimates for fiscal 2024 have increased to $14.89 per share from $14.65 over the past seven days. The company’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 19.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Toll Brothers: This Fort Washington, PA-based homebuilder has been riding high, given strong market demand, combined with its policy of boosting its supply of spec homes and focus on operational efficiency. Also, the emphasis on affordable luxury communities and its build-to-order model bodes well.
TOL currently carries a Zacks Rank #3 (Hold). Shares of the company have rallied 91% in the past year. Earnings estimates for fiscal 2024 have increased to $12.13 per share from $12.09 over the past 30 days. The company’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 29.4%.
D.R. Horton: Based in Texas, this homebuilder enjoys one of the broadest geographic diversities in the industry and is not dependent on any particular market. With 82,917 homes closed during the 12 months ended Sep 30, 2023, D.R. Horton has positioned itself as one of the largest homebuilders in the United States.
D.R. Horton — a Zacks Rank #3 stock — has jumped 64.8% in the past year. DHI has seen an upward estimate revision for fiscal 2024 EPS to $14.18 from $14.02, over the past 60 days. Its earnings topped consensus estimates in all the trailing four quarters, with the average surprise being 28.9%. Again, it carries an impressive VGM Score of A. This helps to identify stocks with the most attractive value, growth and momentum.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Toll Brothers Inc. (TOL) : Free Stock Analysis Report
Lennar Corporation (LEN) : Free Stock Analysis Report
D.R. Horton, Inc. (DHI) : Free Stock Analysis Report
Dream Finders Homes, Inc. (DFH) : 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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With the inflation rate showing signs of easing and the economy holding its ground, the Federal Open Market Committee's unanimous vote to maintain the benchmark in a targeted range between 5.25% and 5.5% provides stability for homebuilders. Homebuilders, armed with strategic moves and a keen eye on market dynamics, are poised to navigate challenges and capitalize on emerging opportunities, creating a promising horizon for the industry in the coming year. Toll Brothers: This Fort Washington, PA-based homebuilder has been riding high, given strong market demand, combined with its policy of boosting its supply of spec homes and focus on operational efficiency.
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Notable among them are Dream Finders Homes, Inc. DFH, Lennar Corporation LEN, Toll Brothers and D.R. Click to get this free report Toll Brothers Inc. (TOL) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report Dream Finders Homes, Inc. (DFH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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DFH — a Zacks Rank #2 (Buy) stock — has rallied 186.9% in the past year, outperforming the Zacks Building Products - Home Builders industry’s 65.2% jump. Click to get this free report Toll Brothers Inc. (TOL) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report Dream Finders Homes, Inc. (DFH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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2024: A Promising Horizon for Housing Market As we look ahead to 2024, the housing market stands on a more solid foundation, supported by the Federal Reserve's decision to maintain interest rates and its optimistic outlook on economic indicators. Key Homebuilding Stocks Investors’ decision to keep a close eye on some homebuilding stocks seems to be a judicious move at this point, given solid demand and an improving macro scenario. TOL currently carries a Zacks Rank #3 (Hold).
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0e2a7e8c-c51d-47a7-a6d3-231030efcc88
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713919.0
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2023-12-11 00:00:00 UTC
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Centene (CNC) Ties Up to Aid Its Marketplace Members in Chicago
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https://www.nasdaq.com/articles/centene-cnc-ties-up-to-aid-its-marketplace-members-in-chicago
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The Health Insurance Marketplace product of Centene Corporation CNC, Ambetter of Illinois, recently teamed up with RUSH University System for Health in a bid to provide improved health outcomes for the health insurer’s Marketplace members across the Chicago area and Northwest Indiana. Access to 140 care locations of RUSH spread across the Chicagoland region has already been made available to the plan members.
Members merely need to log in to their accounts on the official website of Ambetter of Illinois to book an appointment, search for a provider or evaluate the benefits. The recent tie-up will allow the Marketplace members to avail top-notch specialty care and primary care services at the four hospitals of RUSH, which are RUSH University Medical Center, RUSH Copley Medical Center, RUSH Oak Park Hospital and Riverside Medical Center.
The facilities also deploy updated healthcare technology and resources, the resultant benefit of which is reaped by patients who can book same-day appointments and opt for the highly convenient virtual visits.
Under the recent partnership, Ambetter of Illinois members also have access to an expansive provider network of RUSH. The network encompasses more than 2,300 providers in more than 140 practices. The healthcare system also provides the facility of 500-plus providers, who speak Spanish, to provide enhanced services and assistance for Centene’s Marketplace members in the Chicago area, where one of the most widespread languages spoken is Spanish.
Therefore, offering increased choices that address the healthcare needs of members will inevitably bring about a higher degree of health equity across the targeted community. With bundled benefits offered through the hospital and physician network of RUSH, the collaboration may catalyze more individuals to opt for Centene’s Marketplace plans. A growing customer base fetches higher premiums, which are the most significant top-line contributor of any health insurer.
Also, providing medical benefits to the under-insured and uninsured populations that Centene serves through the Health Insurance Marketplace seems to be a commendable move. CNC remains active in expanding the reach of its Marketplace product, Ambetter Health, to different U.S. communities and subsequently, has been successful in establishing a robust Marketplace business.
Marketplace membership soared 76% year over year as of Sep 30, 2023, on the back of solid product positioning and overall market growth. Last year, Ambetter Health reached five new states. It was also rolled out in 274 new counties across 13 existing states.
As a means to attract new customers as well as retain existing ones, CNC has also taken the help of several established healthcare organizations to infuse lucrative benefits within the Marketplace plans. This December, Ambetter joined forces with Broward Health to enhance member access to quality healthcare services across Broward County.
Shares of Centene have gained 16% in the past six months compared with the industry’s 15.6% growth. CNC currently carries a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the Medical space are Amphastar Pharmaceuticals, Inc. AMPH, Integer Holdings Corporation ITGR and Novo Nordisk A/S NVO, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Amphastar Pharmacueticals’ earnings surpassed estimates in each of the last four quarters, the average beat being 52.06%. The Zacks Consensus Estimate for AMPH’s 2023 earnings indicates a surge of 62.9% from the year-ago reported figure. The consensus mark for revenues suggests an improvement of 28.4% from the year-ago reported figure. The consensus mark for AMPH’s 2023 earnings has moved 8.4% north in the past 30 days.
The bottom line of Integer outpaced estimates in each of the trailing four quarters, the average surprise being 11.98%. The Zacks Consensus Estimate for ITGR’s 2023 earnings indicates a rise of 18.6% from the year-ago reported figure. The consensus mark for revenues suggests an improvement of 14.9% from the year-ago reported figure. The consensus mark for ITGR’s 2023 earnings has moved 6.2% north in the past 60 days.
Novo Nordisk’s earnings surpassed estimates in two of the last four quarters, matched the mark once and missed the same in the remaining one occasion, the average beat being 0.58%. The Zacks Consensus Estimate for NVO’s 2023 earnings indicates a rise of 50.9% from the year-ago reported figure. The consensus mark for revenues suggests an improvement of 31.5% from the year-ago reported figure. The consensus mark for NVO’s 2023 earnings has moved 4.4% north in the past 60 days.
Shares of Amphastar Pharmaceuticals, Integer and Novo Nordisk have gained 18.2%, 12.6% and 21.4%, respectively, in the past six months.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report
Centene Corporation (CNC) : Free Stock Analysis Report
Integer Holdings Corporation (ITGR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The facilities also deploy updated healthcare technology and resources, the resultant benefit of which is reaped by patients who can book same-day appointments and opt for the highly convenient virtual visits. As a means to attract new customers as well as retain existing ones, CNC has also taken the help of several established healthcare organizations to infuse lucrative benefits within the Marketplace plans. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The Health Insurance Marketplace product of Centene Corporation CNC, Ambetter of Illinois, recently teamed up with RUSH University System for Health in a bid to provide improved health outcomes for the health insurer’s Marketplace members across the Chicago area and Northwest Indiana. Image Source: Zacks Investment Research Other Stocks to Consider Some other top-ranked stocks in the Medical space are Amphastar Pharmaceuticals, Inc. AMPH, Integer Holdings Corporation ITGR and Novo Nordisk A/S NVO, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report Centene Corporation (CNC) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Health Insurance Marketplace product of Centene Corporation CNC, Ambetter of Illinois, recently teamed up with RUSH University System for Health in a bid to provide improved health outcomes for the health insurer’s Marketplace members across the Chicago area and Northwest Indiana. The recent tie-up will allow the Marketplace members to avail top-notch specialty care and primary care services at the four hospitals of RUSH, which are RUSH University Medical Center, RUSH Copley Medical Center, RUSH Oak Park Hospital and Riverside Medical Center. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report Centene Corporation (CNC) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Health Insurance Marketplace product of Centene Corporation CNC, Ambetter of Illinois, recently teamed up with RUSH University System for Health in a bid to provide improved health outcomes for the health insurer’s Marketplace members across the Chicago area and Northwest Indiana. Last year, Ambetter Health reached five new states. Image Source: Zacks Investment Research Other Stocks to Consider Some other top-ranked stocks in the Medical space are Amphastar Pharmaceuticals, Inc. AMPH, Integer Holdings Corporation ITGR and Novo Nordisk A/S NVO, each sporting a Zacks Rank #1 (Strong Buy) at present.
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8393e46a-698c-40e6-8b2f-f83ef6707322
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713920.0
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2023-12-11 00:00:00 UTC
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IBM Improves NATO's Cybersecurity With Advanced Threat Management
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https://www.nasdaq.com/articles/ibm-improves-natos-cybersecurity-with-advanced-threat-management
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International Business Machines Corporation IBM announced that it has entered into an agreement with the NATO Communications and Information Agency to bolster NATO's cybersecurity defenses by enhancing security oversight and managing assets across all NATO networks.
Per the agreement, IBM's Cybersecurity Services will provide a customized Asset, Configuration, Patching and Vulnerability Management Service to NATO starting January 2024. The service is designed through NATO's updated procurement process involving regular workshops and close industry engagement and was chosen due to IBM's global security expertise and experience in securing complex and widespread infrastructures.
IBM Consulting will develop a personalized solution to provide a comprehensive view of NATO's security status. This involves deploying data analysis, asset discovery tools, integrations, and security experts to establish a unified platform presenting accurate information about assets, configurations, vulnerabilities, and patches throughout NATO's systems.
International Business Machines Corporation Price and Consensus
International Business Machines Corporation price-consensus-chart | International Business Machines Corporation Quote
The initiative aims to enhance NATO's awareness of cyber risks and enable efficient management of potential issues across its network. The service will serve as an interface for cybersecurity functions within NATO to access and query asset and configuration data.
Apart from this, the service will lay the groundwork for an enterprise framework supporting various critical functional areas like IT service management, finance, and auditing. This framework will adopt a federated approach by leveraging existing NATO assets, configuration, and patching solutions.
IBM is a leading provider of advanced information technology solutions, computer systems, quantum computing and super-computing solutions, enterprise software, storage systems and microelectronics. The company’s growth is expected to be driven primarily by analytics, cloud computing, and security in the long haul.
In the third quarter, Consulting revenues were $4,963 million, up from $4,700 million, led by pervasive growth driven by demand for digital transformation, increasing revenues across all business lines and regions.
IBM currently carries a Zacks Rank #3 (Hold). The stock has gained 14.9% over the past year compared with the industry’s growth of 10.6%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Pegasystems PEGA, Flex FLEX and Watts Water Technologies WTS. Pegasystems and Flex presently sport a Zacks Rank #1 (Strong Buy), whereas Watts Water Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Pegasystems’ 2023 EPS has improved 21.2% in the past 60 days to $1.77. PEGA delivered an average earnings surprise of 1,250.2% in the trailing four quarters. Shares of PEGA have soared 51% in the past year.
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has increased 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%.
Flex’s earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11%. Shares of the company have risen 19.8% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00. Watts Water’s long-term earnings growth rate is 7.8%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Flex Ltd. (FLEX) : Free Stock Analysis Report
Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report
Pegasystems Inc. (PEGA) : 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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IBM Consulting will develop a personalized solution to provide a comprehensive view of NATO's security status. This framework will adopt a federated approach by leveraging existing NATO assets, configuration, and patching solutions. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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International Business Machines Corporation Price and Consensus International Business Machines Corporation price-consensus-chart | International Business Machines Corporation Quote The initiative aims to enhance NATO's awareness of cyber risks and enable efficient management of potential issues across its network. Pegasystems and Flex presently sport a Zacks Rank #1 (Strong Buy), whereas Watts Water Technologies carries a Zacks Rank #2 (Buy). Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report Pegasystems Inc. (PEGA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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International Business Machines Corporation IBM announced that it has entered into an agreement with the NATO Communications and Information Agency to bolster NATO's cybersecurity defenses by enhancing security oversight and managing assets across all NATO networks. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the broader technology space are Pegasystems PEGA, Flex FLEX and Watts Water Technologies WTS. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report Pegasystems Inc. (PEGA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the broader technology space are Pegasystems PEGA, Flex FLEX and Watts Water Technologies WTS. Millions of lithium batteries are being made & demand is expected to increase 889%. Today, you can download 7 Best Stocks for the Next 30 Days.
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5b3c1544-2cd1-4b79-99ed-eac4d4aa06fa
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713921.0
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2023-12-11 00:00:00 UTC
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Why TopBuild (BLD) is a Top Value Stock for the Long-Term
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https://www.nasdaq.com/articles/why-topbuild-bld-is-a-top-value-stock-for-the-long-term-0
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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: TopBuild (BLD)
Headquartered in Daytona Beach, FL, TopBuild Corp. is an installer and distributor of insulation and other building products to the U.S. construction industry. TopBuild, which earlier operated as a subsidiary of Masco Corporation, provides insulation and building material services across the nation through TruTeam and Service Partners. The company started trading on the NYSE under the symbol “BLD" from Jul 1, 2015.
BLD is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 16.92; value investors should take notice.
For fiscal 2023, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.11 to $19.66 per share. BLD boasts an average earnings surprise of 14.3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BLD should be on investors' short list.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
TopBuild Corp. (BLD) : 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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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks. How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
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The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier. You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B.
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What are the Zacks Style Scores? That's where the Style Scores come in. BLD is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
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648b8b79-4d6c-447c-b27a-8f59ee75bcb5
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713922.0
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2023-12-11 00:00:00 UTC
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Toyota Motor Corporation (TM) is a Top-Ranked Value Stock: Should You Buy?
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DCOMP
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https://www.nasdaq.com/articles/toyota-motor-corporation-tm-is-a-top-ranked-value-stock%3A-should-you-buy
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nan
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Toyota Motor Corporation (TM)
Founded in 1973, Japan-based Toyota Motor Corporation is one of the leading automakers in the world in terms of sales and production. Its product portfolio consists of a full range of models from passenger cars and minivans to trucks as well as related parts and accessories. Apart from combustion-engine vehicles, the company is also working on fuel cell and automated vehicles. It plans to offer a committed electrified model or an electrified option for customers of Toyota or Lexus models by 2025. The company’s operations are classified into three segments — Automotive (91% of net revenues from external customers in fiscal 2023), Financial Services (7.5%) and All Other (3.3%).
TM is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.6; value investors should take notice.
For fiscal 2024, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $2.55 to $19.31 per share. TM boasts an average earnings surprise of 46.9%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, TM should be on investors' short list.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Toyota Motor Corporation (TM) : 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.
|
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. Its product portfolio consists of a full range of models from passenger cars and minivans to trucks as well as related parts and accessories. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days. How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
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How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. TM is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.
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713923.0
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2023-12-11 00:00:00 UTC
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Has APi Group (APG) Outpaced Other Business Services Stocks This Year?
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https://www.nasdaq.com/articles/has-api-group-apg-outpaced-other-business-services-stocks-this-year
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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is APi (APG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
APi is a member of our Business Services group, which includes 318 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. APi is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for APG's full-year earnings has moved 3.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, APG has gained about 70.8% so far this year. At the same time, Business Services stocks have gained an average of 21%. This means that APi is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is AirSculpt Technologies, Inc. (AIRS). The stock is up 77.6% year-to-date.
For AirSculpt Technologies, Inc. the consensus EPS estimate for the current year has increased 116.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, APi belongs to the Business - Services industry, a group that includes 24 individual companies and currently sits at #85 in the Zacks Industry Rank. Stocks in this group have gained about 21.5% so far this year, so APG is performing better this group in terms of year-to-date returns.
On the other hand, AirSculpt Technologies, Inc. belongs to the Technology Services industry. This 176-stock industry is currently ranked #74. The industry has moved +45.3% year to date.
APi and AirSculpt Technologies, Inc. could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
APi Group Corporation (APG) : Free Stock Analysis Report
AirSculpt Technologies, Inc. (AIRS) : 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 those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. APi is a member of our Business Services group, which includes 318 different companies and currently sits at #6 in the Zacks Sector Rank. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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To break things down more, APi belongs to the Business - Services industry, a group that includes 24 individual companies and currently sits at #85 in the Zacks Industry Rank. APi and AirSculpt Technologies, Inc. could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks. Click to get this free report APi Group Corporation (APG) : Free Stock Analysis Report AirSculpt Technologies, Inc. (AIRS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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To break things down more, APi belongs to the Business - Services industry, a group that includes 24 individual companies and currently sits at #85 in the Zacks Industry Rank. APi and AirSculpt Technologies, Inc. could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks. Click to get this free report APi Group Corporation (APG) : Free Stock Analysis Report AirSculpt Technologies, Inc. (AIRS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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APi is a member of our Business Services group, which includes 318 different companies and currently sits at #6 in the Zacks Sector Rank. One other Business Services stock that has outperformed the sector so far this year is AirSculpt Technologies, Inc. (AIRS). Stocks in this group have gained about 21.5% so far this year, so APG is performing better this group in terms of year-to-date returns.
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713924.0
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2023-12-11 00:00:00 UTC
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5 Stocks for Your 2024 Investing Game Plan
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https://www.nasdaq.com/articles/5-stocks-for-your-2024-investing-game-plan
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(0:30) - Where Should You Be Looking To Invest In 2024?
(5:50) - Breaking Down Microsoft Heading Into The New Year: Should You Be Investing?
(12:40) - Is Now A Good Time To Add More Growth To Your Portfolio?
(28:20) - Navigating The Problematic Industries: Are There Any Opportunities?
(43:10) - Episode Roundup: MSFT. META, DECK, URI, KEY, PNC, XOM, SBUX, BKNG
Podcast@Zacks.com
Welcome to Episode #384 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week, Tracey is going solo to talk about making an investing game plan for 2024. She focused on only stocks for this episode.
Growth stocks were the big winners of 2023, with the Magnificent 7 surging to new highs, pulling some of the major indexes along with them.
There was a bank crisis in the spring, and bank stocks have struggled all year, with some hitting multi-year lows this fall. But even the banks have staged a major rally as stocks posted one of their best Novembers in 20 years.
What now?
Every investor should have an investing game plan for the new year. Tracey shares some ideas in this final podcast of the year.
5 Stocks for Your 2024 Investing Game Plan
1. Microsoft Corp. (MSFT)
Microsoft was a winner among the Magnificent 7 in 2023 as it jumped quickly to the forefront in generative AI. Shares of Microsoft are up 56% year-to-date and are trading near all-time highs.
Microsoft has gotten pricey, however. It trades with a P/S ratio of 12, which is similar to the level in 2000 when the dot-com boom busted.
Does Microsoft, and the rest of the Mag 7, still have gas left in the tank for 2024?
2. Deckers Outdoor Corp. (DECK)
Deckers has not just one-billion-dollar brand in UGG, but it now has a second one in Hoka.
Shares of Deckers are up 80.2% year-to-date and are at new all-time highs. It’s not cheap, though. It trades with a forward P/E of 30. But earnings growth is looking solid for next year.
Should a hot retail stock like Deckers be on your short list?
3. United Rentals, Inc. (URI)
United Rentals is the largest equipment rental company in the United States. It is benefitting from the big infrastructure bill as projects are being undertaken across the economy, from EV battery plants to broadband expansion.
Shares of United Rentals are up 49% year-to-date to new highs but it’s still cheap with a PEG ratio of 0.8.
Is it too late to buy United Rentals for 2024?
4. Exxon Mobil Corp. (XOM)
Exxon Mobil, the oil giant, had been trading near its 52-week lows in 2023 as WTI crude fell under $70 again, at $68 a barrel.
Shares of Exxon Mobil are down 10.2% year-to-date. It is cheap, with a forward P/E of just 10.7. Exxon Mobil is also a dividend all-star with a dividend yielding 3.9%.
Oil stocks have had a terrible year. Is this a buying opportunity in Exxon Mobil?
5. The PNC Financial Services Group, Inc. (PNC)
PNC Financial is a large regional bank based in Pittsburgh. Shares of PNC Financial got hit during the banking crisis but have rebounded off their lows. However, they’re still down 7.4% year-to-date.
PNC Financial is cheap with a forward P/E of just 10.1 and a P/B ratio of 1.1. Bank analysts say you buy a bank with a P/B ratio of 1.0 and sell when it’s 2.0. PNC Financial also pays a dividend, yielding 4.4%.
Is it finally time for banks like PNC Financial to lead the market in 2024?
What Else do you Need to Know About Creating an Investing Game Plan for 2024?
Tune into this week’s podcast to find out.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Microsoft Corporation (MSFT) : Free Stock Analysis Report
The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
United Rentals, Inc. (URI) : 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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It is benefitting from the big infrastructure bill as projects are being undertaken across the economy, from EV battery plants to broadband expansion. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains. Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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United Rentals, Inc. (URI) United Rentals is the largest equipment rental company in the United States. The PNC Financial Services Group, Inc. (PNC) PNC Financial is a large regional bank based in Pittsburgh. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life. The PNC Financial Services Group, Inc. (PNC) PNC Financial is a large regional bank based in Pittsburgh. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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5 Stocks for Your 2024 Investing Game Plan 1. Shares of Microsoft are up 56% year-to-date and are trading near all-time highs. Shares of United Rentals are up 49% year-to-date to new highs but it’s still cheap with a PEG ratio of 0.8.
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2023-12-11 00:00:00 UTC
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Mattel (MAT) Unveils Tie-ups to Develop 'American Girl' Movie
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https://www.nasdaq.com/articles/mattel-mat-unveils-tie-ups-to-develop-american-girl-movie
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Mattel, Inc. MAT recently announced a collaboration with Paramount Pictures and Temple Hill Entertainment to create a live-action feature film based on the American Girl doll line.
The new project joins Mattel Films' extensive lineup, which includes around 14 live-action movies in the works, such as adaptations of Hot Wheels, Magic 8 Ball, Polly Pocket, Rock ‘Em Sock ’Em Robots and UNO.
American Girl (founded in 1986 by Pleasant T. Rowland) is renowned for its high-quality dolls and bestselling books, fostering creativity, learning and entertainment for children. The brand is dedicated to crafting culturally significant narratives that empower young girls with bravery and self-assurance.
The film adaptation of American Girl is being overseen by individuals from Mattel, Paramount Pictures and Temple Hill. At the same time, Lindsey Anderson Beer (screenplay wrtier and producer) is represented by CAA, Brillstein Entertainment Partners, Gang Tyre and Shelter PR. Beer emphasized the dolls' historically accurate backgrounds and intricate stories, ideally suited for cinematic adaptation. Beer anticipates creating a narrative that genuinely delves into the complexities of girlhood in an engaging and authentic manner.
Focus on Entertainment
The company emphasizes capturing the full value of its IP in its business verticals outside the toy aisle. The highly anticipated Barbie movie, which had its official release on Jul 21, 2023, witnessed great success globally. It underscores the potential of Mattel Films and the strides the company has achieved in maximizing the value of its intellectual property.
During the third quarter of 2023earnings call Mattel stated that it is well-positioned to grow its IP-driven toy business and expand its entertainment offering beyond 2023. In pursuit of this goal, the company revealed its collaboration with the Pokémon company, securing a multi-year license renewal for construction sets across all major markets. It emphasized a fresh multiyear deal with Netflix, securing exclusive content rights encompassing three original series. The company announced upcoming new seasons for Thomas & Friends, Polly Pocket and Fireman Sam.
Image Source: Zacks Investment Research
In the past year, shares of the company have gained 11.2% compared with the industry’s growth of 20%.
Zacks Rank & Key Picks
Mattel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector include
Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.3% on average. Shares of RCL have surged 120.4% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates a rise of 13.7% and 37.4%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. LYV flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 25.4% in the past year.
The Zacks Consensus Estimate for LYV’s 2024 sales and EPS indicates a rise of 8.1% and 54.6%, respectively, from the year-ago period’s levels.
JAKKS Pacific, Inc. JAKK sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 61.8% on average. Shares of JAKK have increased 94.5% in the past year.
The Zacks Consensus Estimate for JAKK’s 2024 sales indicate a rise of 3.5% from the year-ago period’s levels.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Mattel, Inc. (MAT) : Free Stock Analysis Report
JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Mattel, Inc. MAT recently announced a collaboration with Paramount Pictures and Temple Hill Entertainment to create a live-action feature film based on the American Girl doll line. American Girl (founded in 1986 by Pleasant T. Rowland) is renowned for its high-quality dolls and bestselling books, fostering creativity, learning and entertainment for children. At the same time, Lindsey Anderson Beer (screenplay wrtier and producer) is represented by CAA, Brillstein Entertainment Partners, Gang Tyre and Shelter PR.
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Mattel, Inc. MAT recently announced a collaboration with Paramount Pictures and Temple Hill Entertainment to create a live-action feature film based on the American Girl doll line. Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Mattel, Inc. (MAT) : Free Stock Analysis Report JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Mattel, Inc. MAT recently announced a collaboration with Paramount Pictures and Temple Hill Entertainment to create a live-action feature film based on the American Girl doll line. Zacks Rank & Key Picks Mattel currently carries a Zacks Rank #3 (Hold). Click to get this free report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report Mattel, Inc. (MAT) : Free Stock Analysis Report JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research In the past year, shares of the company have gained 11.2% compared with the industry’s growth of 20%. You can see the complete list of today’s Zacks #1 Rank stocks here. Live Nation Entertainment, Inc. LYV flaunts a Zacks Rank #1.
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713926.0
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2023-12-11 00:00:00 UTC
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Cognizant (CTSH) Boosts AI-Driven Automation With ServiceNow
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https://www.nasdaq.com/articles/cognizant-ctsh-boosts-ai-driven-automation-with-servicenow-0
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Cognizant Technology Solutions CTSH is set to acquire Thirdera, which will expand its ServiceNow NOW platform offerings.
Thirdera's global reach and proficiency in advisory and implementation solutions positions it as a formidable force within the ServiceNow ecosystem. This is a key development in Cognizant's digital strategy.
The anticipated closure of this acquisition in January 2024 marks a significant advancement for the company in delivering innovative solutions in the ever-evolving digital landscape.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
Strong Portfolio Aids Cognizant’s Prospects
Cognizant's growing expertise within the ServiceNow platform underscores its commitment to digital transformation. This involves adapting to evolving technology trends and delivering data-driven, tailored solutions that drive innovation across sectors.
The company’s collaboration with ServiceNow extends beyond the Thirdera acquisition through the launch of Telco Assurance 360, a cloud-based, AI-powered solution designed to revolutionize service management strategies for telecommunications companies in the AI era.
Cognizant leverages a robust partner base that includes Alphabet GOOGL and ServiceNow, emphasizing its collaborative strength within the industry.
In partnership with Alphabet’s cloud offering Google Cloud, Cognizant is supporting Bendigo and Adelaide Bank — a major Australian retail bank — in rebuilding its digital banking system as part of the bank's broader transformation program.
Cognizant partnered with Intrum to deliver end-to-end digital integration and core modernization services, aiming to reduce costs, accelerate integration platform modernization and enhance customer services across 20 European countries.
In response to the growing demand for data-driven solutions in education, Cognizant's collaboration with The University of Melbourne, utilizing Tealium CDP, reflects the company's strategic efforts to elevate personalized experiences for students, staff and alumni.
Cognizant collaborated with Alm. Brand Group to automate outsourced business processes, including insurance policies, enhancing efficiency and customer experience, with plans to consolidate operations in its Centre of Excellence in Vilnius, LTU, by 2024.
Q4 View Not So Rosy
Cognizant expects fourth-quarter 2023 revenues between $4.69 billion and $4.82 billion, indicating a decline of 3.1% to an increase of 0.3%.
The company is suffering from weakness in the Financial Services segment. It continues to expect the challenging macroeconomic environment to hurt spending rates and affect top-line growth.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $4.76 billion, indicating a year-over-year decline of 1.6%.
The consensus mark for earnings is pegged at $1.04 per share, unchanged in the past 30 days and indicating year-over-year growth of 2.97%.
Zacks Rank & Stocks to Consider
Currently, CTSH has Zacks Rank #3 (Hold).
The stock has returned 27.9% compared with the Zacks Computer & Technology sector’s rally of 47.8% year to date.
A better-ranked stock in the broader technology sector is Flex FLEX, which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flex’s shares have returned 22.5% on a year-to-date basis.
Long-term earnings growth rates for FLEX are pegged at 12.39%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Cognizant Technology Solutions Corporation (CTSH) : Free Stock Analysis Report
Flex Ltd. (FLEX) : Free Stock Analysis Report
ServiceNow, Inc. (NOW) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : 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 response to the growing demand for data-driven solutions in education, Cognizant's collaboration with The University of Melbourne, utilizing Tealium CDP, reflects the company's strategic efforts to elevate personalized experiences for students, staff and alumni. Brand Group to automate outsourced business processes, including insurance policies, enhancing efficiency and customer experience, with plans to consolidate operations in its Centre of Excellence in Vilnius, LTU, by 2024. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Cognizant Technology Solutions CTSH is set to acquire Thirdera, which will expand its ServiceNow NOW platform offerings. Cognizant Technology Solutions Corporation Price and Consensus Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote Strong Portfolio Aids Cognizant’s Prospects Cognizant's growing expertise within the ServiceNow platform underscores its commitment to digital transformation. Click to get this free report Cognizant Technology Solutions Corporation (CTSH) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Cognizant Technology Solutions Corporation Price and Consensus Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote Strong Portfolio Aids Cognizant’s Prospects Cognizant's growing expertise within the ServiceNow platform underscores its commitment to digital transformation. A better-ranked stock in the broader technology sector is Flex FLEX, which currently sports a Zacks Rank #1 (Strong Buy). Click to get this free report Cognizant Technology Solutions Corporation (CTSH) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Cognizant Technology Solutions CTSH is set to acquire Thirdera, which will expand its ServiceNow NOW platform offerings. Cognizant Technology Solutions Corporation Price and Consensus Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote Strong Portfolio Aids Cognizant’s Prospects Cognizant's growing expertise within the ServiceNow platform underscores its commitment to digital transformation. A better-ranked stock in the broader technology sector is Flex FLEX, which currently sports a Zacks Rank #1 (Strong Buy).
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713927.0
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2023-12-11 00:00:00 UTC
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KBR and DL E&C to Advance Sustainable Aviation Fuel Production
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https://www.nasdaq.com/articles/kbr-and-dl-ec-to-advance-sustainable-aviation-fuel-production
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KBR, Inc. KBR received a feasibility study contract from DL E&C Co., Ltd (“DL E&C”) for sustainable aviation fuel (SAF) production. Leveraging KBR's ATJ (Alcohol to Jet) technology — PureSAF — KBR and DL E&C are set to explore opportunities in the sustainable aviation fuel sector, marking the first stride toward expanding their market presence.
Per the agreement, DL E&C will oversee FEED, EPC (engineering, procurement, construction) and pre-commissioning of production plants. KBR, serving as the licensor, will manage the basic design stage, offering source technology and solutions for catalyst selection and maintenance. This strategic collaboration represents a significant milestone, with both companies aiming to deliver a complete and integrated solution for the entire SAF industry.
In response to the aviation industry's goal of achieving carbon neutrality by 2050, leading oil refineries are pursuing business development and technology R&D for SAF production. According to TMR, aglobal marketresearch firm, the estimated value of the global SAF market was $186.6 million (KRW 235.5 billion) in 2021. TMR projects a CAGR of 26.2%, projecting the market to reach $402 billion (KRW 508 trillion) by 2050.
Strategic Initiatives to Boost Backlog
KBR's determination to reduce emissions, diversify products, improve energy efficiency and implement more sustainable technologies and solutions have been driving its performance. The demand for the company’s technologies in ammonia for food production, olefins for non-single-use plastics and refining for product diversification and more green solutions to meet tighter environmental standards have been strong.
In November, KBR's Purifie ammonia technology was chosen by PT Pupuk Sriwidjaja Palembang (Pusri), a subsidiary of PT Pupuk Indonesia, for its upcoming Pusri 3B Ammonia Plant in South Sumatera Province. This marked KBR's 12th licensed ammonia plant for Pupuk Indonesia.
KBR is working on multiple initiatives and contracts to expand its low-carbon ammonia offerings for energy transition, which is a crucial step toward global decarbonization efforts. It has been a world leader in ammonia technology and has been at the forefront of innovation in the same market for decades. Since 1943, this Zacks Rank #3 (Hold) company has licensed, engineered and constructed more than 250 grassroots ammonia plants throughout the world.
As of Sep 29, 2023, the total backlog (including award options) of KBR was $21.8 billion compared with $19.76 billion at 2022-end. Of the total backlog, Government Solutions booked $12.28 billion and the Sustainable Technology Solutions segment contributed $4.98 billion.
Image Source: Zacks Investment Research
The stock has fallen 11% in the past three months against the Zacks Engineering - R and D Services industry’s 3.2% rise. Nevertheless, the company is likely to benefit from increased new contracts and on-contract growth within all Government Solutions business units and rising demand for the Sustainable Technology Solutions portfolio.
Key Picks
Some better-ranked stocks from the Zacks Construction sector are:
EMCOR Group, Inc. EME sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have surged 49.2% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels.
M-tron Industries, Inc. MPTI currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 206.9% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year.
AECOM ACM carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have surged 10.8% in the past year.
The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AECOM (ACM) : Free Stock Analysis Report
KBR, Inc. (KBR) : Free Stock Analysis Report
EMCOR Group, Inc. (EME) : Free Stock Analysis Report
M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks 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 response to the aviation industry's goal of achieving carbon neutrality by 2050, leading oil refineries are pursuing business development and technology R&D for SAF production. Strategic Initiatives to Boost Backlog KBR's determination to reduce emissions, diversify products, improve energy efficiency and implement more sustainable technologies and solutions have been driving its performance. KBR is working on multiple initiatives and contracts to expand its low-carbon ammonia offerings for energy transition, which is a crucial step toward global decarbonization efforts.
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This marked KBR's 12th licensed ammonia plant for Pupuk Indonesia. EMCOR Group, Inc. EME sports a Zacks Rank #1 (Strong Buy). Click to get this free report AECOM (ACM) : Free Stock Analysis Report KBR, Inc. (KBR) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Leveraging KBR's ATJ (Alcohol to Jet) technology — PureSAF — KBR and DL E&C are set to explore opportunities in the sustainable aviation fuel sector, marking the first stride toward expanding their market presence. The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels. Click to get this free report AECOM (ACM) : Free Stock Analysis Report KBR, Inc. (KBR) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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KBR, Inc. KBR received a feasibility study contract from DL E&C Co., Ltd (“DL E&C”) for sustainable aviation fuel (SAF) production. Since 1943, this Zacks Rank #3 (Hold) company has licensed, engineered and constructed more than 250 grassroots ammonia plants throughout the world. You can see the complete list of today’s Zacks #1 Rank stocks here.
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ce7394b1-97d8-4759-853c-d43858d8923b
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713928.0
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2023-12-11 00:00:00 UTC
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Canadian Solar (CSIQ) Up 11.8% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/canadian-solar-csiq-up-11.8-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for Canadian Solar (CSIQ). Shares have added about 11.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Canadian Solar due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Canadian Solar (CSIQ) Q3 Earnings Miss, Revenues Fall Y/Y
Canadian Solar reported third-quarter 2023 earnings of 32 cents per share, lagging the Zacks Consensus Estimate of 91 cents by 64.8%. The bottom line also declined 71.4% from the third-quarter 2022 reported figure.
Total Revenues
This solar cell manufacturer’s total revenues of $1,846.3 million lagged the Zacks Consensus Estimate of $1,994 million by 7.4%. The top line also decreased 4% from the $1,932.5 million reported in the third quarter of 2022.
Operational Update
Solar module shipments in the quarter totaled 8.3 gigawatts (GW), below the guidance range of 8.5-8.7 GW. This includes 82 megawatts (MW) of the company's utility-scale solar power projects. Total module shipments increased 39% on a year-over-year basis.
Canadian Solar’s gross margin was 16.7% in the quarter, below the guided range of 17.5-19.5%. Total operating expenses were $225 million, down 17.9% year over year.
Depreciation and amortization charges were $76 million, up from the $56 million recorded in the year-ago period.
Financial Update
As of Sep 30, 2023, Canadian Solar’s cash and cash equivalents totaled $1,921.1 million, up from $981.4 million on Dec 31, 2022.
Long-term borrowings as of Sep 30, 2023 were $1,071.8 million, up from $813.4 million on Dec 31, 2022.
Guidance
For the fourth quarter of 2023, Canadian Solar expects total module shipments in the range of 7.6-8.1 GW, including approximately 95 MW of module shipments for its projects. Total revenues are expected in the range of $1.6-$1.8 billion. The Zacks Consensus Estimate for fourth-quarter sales is pegged at $2.58 billion, higher than the midpoint of the company’s guided range. The gross margin is expected between 14% and 16%.
Total battery energy storage shipments by CSI Solar in the fourth quarter are expected between 1.4 gigawatt-hours (GWh) and 1.5 GWh.
For 2023, total module shipments are expected between 42 and 47 GW. Battery storage shipments are expected in the range of 6 GWh-6.5 GWh.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -106.81% due to these changes.
VGM Scores
Currently, Canadian Solar has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Canadian Solar has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Canadian Solar belongs to the Zacks Solar industry. Another stock from the same industry, Array Technologies, Inc. (ARRY), has gained 18.3% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Array Technologies, Inc. reported revenues of $350.44 million in the last reported quarter, representing a year-over-year change of -32%. EPS of $0.21 for the same period compares with $0.18 a year ago.
Array Technologies, Inc. is expected to post earnings of $0.12 per share for the current quarter, representing a year-over-year change of +20%. Over the last 30 days, the Zacks Consensus Estimate has changed -7.1%.
Array Technologies, Inc. has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
Array Technologies, Inc. (ARRY) : 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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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. The Zacks Consensus Estimate for fourth-quarter sales is pegged at $2.58 billion, higher than the midpoint of the company’s guided range. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Canadian Solar (CSIQ) Q3 Earnings Miss, Revenues Fall Y/Y Canadian Solar reported third-quarter 2023 earnings of 32 cents per share, lagging the Zacks Consensus Estimate of 91 cents by 64.8%. Guidance For the fourth quarter of 2023, Canadian Solar expects total module shipments in the range of 7.6-8.1 GW, including approximately 95 MW of module shipments for its projects. Click to get this free report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Array Technologies, Inc. (ARRY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Canadian Solar (CSIQ) Q3 Earnings Miss, Revenues Fall Y/Y Canadian Solar reported third-quarter 2023 earnings of 32 cents per share, lagging the Zacks Consensus Estimate of 91 cents by 64.8%. Total Revenues This solar cell manufacturer’s total revenues of $1,846.3 million lagged the Zacks Consensus Estimate of $1,994 million by 7.4%. Click to get this free report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Array Technologies, Inc. (ARRY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Canadian Solar (CSIQ). Canadian Solar (CSIQ) Q3 Earnings Miss, Revenues Fall Y/Y Canadian Solar reported third-quarter 2023 earnings of 32 cents per share, lagging the Zacks Consensus Estimate of 91 cents by 64.8%. Array Technologies, Inc. reported revenues of $350.44 million in the last reported quarter, representing a year-over-year change of -32%.
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e81e3a4d-7be0-4584-af77-3ee8a6406ed6
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713929.0
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2023-12-11 00:00:00 UTC
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Why Is Energizer (ENR) Down 5% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-energizer-enr-down-5-since-last-earnings-report
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nan
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A month has gone by since the last earnings report for Energizer Holdings (ENR). Shares have lost about 5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Energizer due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Energizer Q4 Earnings & Sales Beat Estimates, Up Y/Y
Energizer reported impressive results in fourth-quarter fiscal 2023, wherein its top and bottom lines surpassed the Zacks Consensus Estimate and grew year over year.
Q4 Metrics
Energizer’s adjusted earnings of $1.20 per share came ahead of the Zacks Consensus Estimate of $1.14 and increased 46.3% from the year-ago quarter’s reported figure.
ENR reported net sales of $811.1 million, which beat the Zacks Consensus Estimate of $791 million. The top line also increased by 2.6% from the year-ago quarter’s reading. Organic sales grew 2% in the fiscal fourth quarter.
The increase was driven by the continued benefit of global pricing actions in the battery and auto care businesses, which contributed approximately 1.5% to organic sales and an increase in battery volumes. The upside was partially offset by volume declines from lost battery distribution in international markets.
For fiscal 2023, the company’s adjusted earnings came in at $3.09 per share, up by a penny from the previous fiscal’s reported figure. For the fiscal year, net sales were $2,959.7 million, down 3% year over year.
Segments in Detail
On Oct 1, 2021, Energizer changed its segments from the two geographies of Americas and International to two reporting units, namely Battery & Lights and Auto Care. The move followed the acquisition of Spectrum Brands’ Battery and Auto Care units in the first quarter of fiscal 2022.
Energizer’s Batteries & Lights segment’s revenues increased from $639 million year over year to $656.1 million in fourth-quarter fiscal 2023 and beat our estimate of $639 million. Meanwhile, revenues in the Auto Care segment increased from $151.4 million to $155 million. In the quarter, we expected revenues of $150.3 million from the Auto Care segment.
Margins
In the fiscal fourth quarter, Energizer’s adjusted gross margin expanded 380 basis points to 40%, driven primarily by the Project Momentum savings of $19 million, continued gains from the pricing initiatives, lower product and other costs and positive currency impacts. The adjusted gross margin came in line with our estimate.
Excluding restructuring costs, this company’s adjusted selling, general and administrative (“SG&A”) costs, as a rate of net sales, was 14.2% compared with 15.1% recorded in the prior-year quarter. We had expected adjusted SG&A cost as a rate of net sales to be 14.1% in the quarter under review. On a dollar basis, SG&A cost declined from $119.2 million to $115.5 million due to Project Momentum savings. Adjusted EBITDA was $185.4 million, up 27% year over year.
Other Financial Details
As of Sep 30, 2023, Energizer’s cash and cash equivalents were $223.3 million, with long-term debt of $3,332.1 million and shareholders' equity of $210.7 million. In fiscal 2023, ENR paid down $225 million of debt. At the end of the fiscal fourth quarter, the company’s net debt to adjusted EBITDA was 5.2 times. In the reported quarter, it paid out a dividend of about $22 million.
The operating cash flow for fiscal 2023 was $395.2 million and free cash flow was $339.1 million.
Outlook
We note that Project Momentum is on track, delivering savings of more than $50 million in fiscal 2023. It anticipates to continue generating savings from the project going forward. The company is expected to focus on its strategic priorities, including gross margin restoration, free cash flow generation and paying down debt for fiscal 2024.
Management provided its organic revenue guidance for fiscal 2024. Energizer currently anticipates organic revenues to be flat to down in the low single digits. For fiscal 2024, adjusted earnings per share are expected in the band of $3.10-$3.30, while adjusted EBITDA is envisioned to be in the range of $600-$620 million.
For the first quarter of fiscal 2024, Energizer anticipates organic revenues to decline by 6-8% due to projected category trends and shifts in the timing of holiday orders in fourth-quarter fiscal 2023. For the quarter, adjusted earnings per share are envisioned in the band of 50 cents to 60 cents.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -27.48% due to these changes.
VGM Scores
Currently, Energizer has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Energizer has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Energizer is part of the Zacks Consumer Products - Staples industry. Over the past month, International Flavors (IFF), a stock from the same industry, has gained 6.4%. The company reported its results for the quarter ended September 2023 more than a month ago.
International Flavors reported revenues of $2.82 billion in the last reported quarter, representing a year-over-year change of -7.9%. EPS of $0.89 for the same period compares with $1.36 a year ago.
For the current quarter, International Flavors is expected to post earnings of $0.77 per share, indicating a change of -20.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.5% over the last 30 days.
International Flavors has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Energizer Holdings, Inc. (ENR) : Free Stock Analysis Report
International Flavors & Fragrances Inc. (IFF) : 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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Q4 Metrics Energizer’s adjusted earnings of $1.20 per share came ahead of the Zacks Consensus Estimate of $1.14 and increased 46.3% from the year-ago quarter’s reported figure. The company is expected to focus on its strategic priorities, including gross margin restoration, free cash flow generation and paying down debt for fiscal 2024. Additionally, the stock has a VGM Score of F. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Energizer Q4 Earnings & Sales Beat Estimates, Up Y/Y Energizer reported impressive results in fourth-quarter fiscal 2023, wherein its top and bottom lines surpassed the Zacks Consensus Estimate and grew year over year. Margins In the fiscal fourth quarter, Energizer’s adjusted gross margin expanded 380 basis points to 40%, driven primarily by the Project Momentum savings of $19 million, continued gains from the pricing initiatives, lower product and other costs and positive currency impacts. Click to get this free report Energizer Holdings, Inc. (ENR) : Free Stock Analysis Report International Flavors & Fragrances Inc. (IFF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Energizer Q4 Earnings & Sales Beat Estimates, Up Y/Y Energizer reported impressive results in fourth-quarter fiscal 2023, wherein its top and bottom lines surpassed the Zacks Consensus Estimate and grew year over year. Energizer’s Batteries & Lights segment’s revenues increased from $639 million year over year to $656.1 million in fourth-quarter fiscal 2023 and beat our estimate of $639 million. Click to get this free report Energizer Holdings, Inc. (ENR) : Free Stock Analysis Report International Flavors & Fragrances Inc. (IFF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Energizer Q4 Earnings & Sales Beat Estimates, Up Y/Y Energizer reported impressive results in fourth-quarter fiscal 2023, wherein its top and bottom lines surpassed the Zacks Consensus Estimate and grew year over year. ENR reported net sales of $811.1 million, which beat the Zacks Consensus Estimate of $791 million. For the first quarter of fiscal 2024, Energizer anticipates organic revenues to decline by 6-8% due to projected category trends and shifts in the timing of holiday orders in fourth-quarter fiscal 2023.
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9cc42b2e-5cea-4f48-9a32-edf7cd4796be
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713930.0
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2023-12-11 00:00:00 UTC
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Why Is Home Depot (HD) Up 11.4% Since Last Earnings Report?
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DCOMP
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https://www.nasdaq.com/articles/why-is-home-depot-hd-up-11.4-since-last-earnings-report
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nan
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nan
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A month has gone by since the last earnings report for Home Depot (HD). Shares have added about 11.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Home Depot due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Home Depot Beats on Q3 Earnings and Sales Estimates
Home Depot reported solid third-quarter fiscal 2023 results, wherein both the top and bottom lines exceeded the Zacks Consensus Estimate but declined year over year. Results gained from strength in categories associated with smaller projects. Meanwhile, continued pressure in certain big-ticket, discretionary categories acted as a deterrent.
Home Depot's earnings of $3.81 per share declined 10% from $4.24 registered in the year-ago quarter. However, the bottom line beat the Zacks Consensus Estimate of $3.76.
Net sales fell 3% to $37,710 million from $38,872 million in the year-ago quarter. However, the metric beat the Zacks Consensus Estimate of $37,523 million.
Home Depot's comparable sales fell 3.1% in the reported quarter. The company’s comparable sales in the United States declined 3.5%. Comps were impacted by a decrease in customer transactions and average tickets. Customer transactions declined 2.4% year over year, while the average ticket rose 0.3%. Sales per retail square foot were down 3.7%.
In dollar terms, the gross profit decreased 3.7% to $12,738 million from $13,224 million in the year-ago quarter. The operating income fell 12.1% year over year to $5,406 million.
SG&A expenses of $6,649 million grew 2.8% from the $6,468 million reported in the year-ago quarter.
Other Updates
Home Depot ended the third quarter of fiscal 2023 with cash and cash equivalents of $2,058 million, long-term debt (excluding current installments) of $40,567 million and shareholders' equity of $1,430 million. In the nine months ended Oct 29, 2023, the company generated $16,439 million of net cash from operations.
Fiscal 2023 View
Management narrowed its view for fiscal 2023. Home Depot now anticipates sales and comparable sales to decline in the range of 3-4% compared with the earlier guidance of a 2-5% year-over-year decline.
The company expects an effective tax rate of 24.5% in fiscal 2023. Interest expenses are likely to be $1.8 billion in fiscal 2023. HD estimates earnings per share to decline 9-11% compared with the previously communicated view of a 7-13% decrease year over year in fiscal 2023.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
VGM Scores
Currently, Home Depot has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Home Depot has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Home Depot belongs to the Zacks Building Products - Retail industry. Another stock from the same industry, Builders FirstSource (BLDR), has gained 20.4% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
Builders FirstSource reported revenues of $4.53 billion in the last reported quarter, representing a year-over-year change of -21.3%. EPS of $4.24 for the same period compares with $5.20 a year ago.
Builders FirstSource is expected to post earnings of $2.73 per share for the current quarter, representing a year-over-year change of -15%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%.
Builders FirstSource has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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 Home Depot, Inc. (HD) : Free Stock Analysis Report
Builders FirstSource, Inc. (BLDR) : 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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Will the recent positive trend continue leading up to its next earnings release, or is Home Depot due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Home Depot Beats on Q3 Earnings and Sales Estimates Home Depot reported solid third-quarter fiscal 2023 results, wherein both the top and bottom lines exceeded the Zacks Consensus Estimate but declined year over year. Builders FirstSource is expected to post earnings of $2.73 per share for the current quarter, representing a year-over-year change of -15%. Click to get this free report The Home Depot, Inc. (HD) : Free Stock Analysis Report Builders FirstSource, Inc. (BLDR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Home Depot Beats on Q3 Earnings and Sales Estimates Home Depot reported solid third-quarter fiscal 2023 results, wherein both the top and bottom lines exceeded the Zacks Consensus Estimate but declined year over year. Other Updates Home Depot ended the third quarter of fiscal 2023 with cash and cash equivalents of $2,058 million, long-term debt (excluding current installments) of $40,567 million and shareholders' equity of $1,430 million. Click to get this free report The Home Depot, Inc. (HD) : Free Stock Analysis Report Builders FirstSource, Inc. (BLDR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Home Depot (HD). Home Depot Beats on Q3 Earnings and Sales Estimates Home Depot reported solid third-quarter fiscal 2023 results, wherein both the top and bottom lines exceeded the Zacks Consensus Estimate but declined year over year. Home Depot's earnings of $3.81 per share declined 10% from $4.24 registered in the year-ago quarter.
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713931.0
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2023-12-11 00:00:00 UTC
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Kodiak Sciences Inc. (KOD) Up 43.6% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/kodiak-sciences-inc.-kod-up-43.6-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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A month has gone by since the last earnings report for Kodiak Sciences Inc. (KOD). Shares have added about 43.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Kodiak Sciences Inc. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Kodiak Beats Q3 Earnings
Kodiak Sciences reported third-quarter 2023 loss per share of 95 cents, narrower than the Zacks Consensus Estimate of a loss of $1.41. The company had incurred a loss of $1.47 per share in the year-ago quarter.
Currently, KOD does not have any approved products in its portfolio. As a result, it is yet to generate revenues.
Quarter in Detail
Research and development expenses were approximately $36.2 million in the reported quarter, down about 41% year over year. The decrease was due to the reduction in expense during the pause of the tarcocimab development program and equity award forfeitures related to the 2021 Long-Term Performance Incentive Plan.
General and administrative expenses were $18.3 million, marginally up on a year-over-year basis, primarily due to lower non-cash stock-based compensation expenses.
As of Sep 30, 2023, Kodiak had cash, cash equivalents and marketable securities worth $345.7 million compared with $378.7 million as of Jun 30, 2023.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted 23.24% due to these changes.
VGM Scores
At this time, Kodiak Sciences Inc. has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Kodiak Sciences Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Kodiak Sciences Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Geron (GERN), a stock from the same industry, has gained 7.7%. The company reported its results for the quarter ended September 2023 more than a month ago.
Geron reported revenues of $0.16 million in the last reported quarter, representing a year-over-year change of -46.7%. EPS of -$0.08 for the same period compares with -$0.10 a year ago.
Geron is expected to post a loss of $0.10 per share for the current quarter, representing no change from the year-ago quarter. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Geron. Also, the stock has a VGM Score of F.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Kodiak Sciences Inc. (KOD) : Free Stock Analysis Report
Geron Corporation (GERN) : 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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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. The decrease was due to the reduction in expense during the pause of the tarcocimab development program and equity award forfeitures related to the 2021 Long-Term Performance Incentive Plan. Also, the stock has a VGM Score of F. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Kodiak Beats Q3 Earnings Kodiak Sciences reported third-quarter 2023 loss per share of 95 cents, narrower than the Zacks Consensus Estimate of a loss of $1.41. Geron reported revenues of $0.16 million in the last reported quarter, representing a year-over-year change of -46.7%. Click to get this free report Kodiak Sciences Inc. (KOD) : Free Stock Analysis Report Geron Corporation (GERN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Kodiak Beats Q3 Earnings Kodiak Sciences reported third-quarter 2023 loss per share of 95 cents, narrower than the Zacks Consensus Estimate of a loss of $1.41. Geron reported revenues of $0.16 million in the last reported quarter, representing a year-over-year change of -46.7%. Click to get this free report Kodiak Sciences Inc. (KOD) : Free Stock Analysis Report Geron Corporation (GERN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Kodiak Sciences Inc. (KOD). Kodiak Beats Q3 Earnings Kodiak Sciences reported third-quarter 2023 loss per share of 95 cents, narrower than the Zacks Consensus Estimate of a loss of $1.41. Quarter in Detail Research and development expenses were approximately $36.2 million in the reported quarter, down about 41% year over year.
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2023-12-11 00:00:00 UTC
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EXCLUSIVE-Biden administration to recognize methodology favored by ethanol industry for SAF credits
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https://www.nasdaq.com/articles/exclusive-biden-administration-to-recognize-methodology-favored-by-ethanol-industry-for
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NEW YORK, Dec 14 (Reuters) - The Biden administration is expected this week to recognize a methodology favored by the ethanol industry that will offer guidance on how companies can gain access to credits for sustainable aviation fuel production, three sources familiar with the matter told Reuters.
For months the administration has been divided over whether to recognize the Department of Energy's Greenhouse Gases, Regulated Emissions and Energy Use in Technologies (GREET) model, which would enable ethanol-based SAF to qualify for tax credits under the Inflation Reduction Act, President Joe Biden's signature climate law.
(Reporting by Stephanie Kelly and Jarrett Renshaw)
((Stephanie.Kelly@thomsonreuters.com; 646-737-4649; Reuters Messaging: stephanie.kelly.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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NEW YORK, Dec 14 (Reuters) - The Biden administration is expected this week to recognize a methodology favored by the ethanol industry that will offer guidance on how companies can gain access to credits for sustainable aviation fuel production, three sources familiar with the matter told Reuters. For months the administration has been divided over whether to recognize the Department of Energy's Greenhouse Gases, Regulated Emissions and Energy Use in Technologies (GREET) model, which would enable ethanol-based SAF to qualify for tax credits under the Inflation Reduction Act, President Joe Biden's signature climate law. (Reporting by Stephanie Kelly and Jarrett Renshaw) ((Stephanie.Kelly@thomsonreuters.com; 646-737-4649; Reuters Messaging: stephanie.kelly.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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NEW YORK, Dec 14 (Reuters) - The Biden administration is expected this week to recognize a methodology favored by the ethanol industry that will offer guidance on how companies can gain access to credits for sustainable aviation fuel production, three sources familiar with the matter told Reuters. For months the administration has been divided over whether to recognize the Department of Energy's Greenhouse Gases, Regulated Emissions and Energy Use in Technologies (GREET) model, which would enable ethanol-based SAF to qualify for tax credits under the Inflation Reduction Act, President Joe Biden's signature climate law. (Reporting by Stephanie Kelly and Jarrett Renshaw) ((Stephanie.Kelly@thomsonreuters.com; 646-737-4649; Reuters Messaging: stephanie.kelly.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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NEW YORK, Dec 14 (Reuters) - The Biden administration is expected this week to recognize a methodology favored by the ethanol industry that will offer guidance on how companies can gain access to credits for sustainable aviation fuel production, three sources familiar with the matter told Reuters. For months the administration has been divided over whether to recognize the Department of Energy's Greenhouse Gases, Regulated Emissions and Energy Use in Technologies (GREET) model, which would enable ethanol-based SAF to qualify for tax credits under the Inflation Reduction Act, President Joe Biden's signature climate law. (Reporting by Stephanie Kelly and Jarrett Renshaw) ((Stephanie.Kelly@thomsonreuters.com; 646-737-4649; Reuters Messaging: stephanie.kelly.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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NEW YORK, Dec 14 (Reuters) - The Biden administration is expected this week to recognize a methodology favored by the ethanol industry that will offer guidance on how companies can gain access to credits for sustainable aviation fuel production, three sources familiar with the matter told Reuters. For months the administration has been divided over whether to recognize the Department of Energy's Greenhouse Gases, Regulated Emissions and Energy Use in Technologies (GREET) model, which would enable ethanol-based SAF to qualify for tax credits under the Inflation Reduction Act, President Joe Biden's signature climate law. (Reporting by Stephanie Kelly and Jarrett Renshaw) ((Stephanie.Kelly@thomsonreuters.com; 646-737-4649; Reuters Messaging: stephanie.kelly.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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2023-12-11 00:00:00 UTC
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Here's Why You Should Retain OUTFRONT Media (OUT) Stock Now
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https://www.nasdaq.com/articles/heres-why-you-should-retain-outfront-media-out-stock-now
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OUTFRONT Media OUT is well-poised to benefit from its diversified portfolio of advertising sites, both geographical and industry-wise, in the key markets of the United States and Canada. Moreover, strategic investments and expansion efforts to enhance its digital-billboard portfolio augur well for its long-term growth opportunities. However, competition from other advertising channels and elevated expenses are worrisome for the company. A high interest rate environment adds to its concerns.
What’s Aiding It?
OUTFRONT Media’s advertising sites are geographically diversified, with their presence across the United States and Canada. The company’s large-scale presence paves the way for its clients to reach a national audience and provides the flexibility to tailor campaigns to specific regions or markets. Moreover, its portfolio is diversified industry-wise. The diversification makes its revenues less volatile in nature. We estimate a year-over-year increase of 2.4% and 2.9% in its total revenues for 2023 and 2024, respectively.
OUTFRONT Media has been making strategic investments in its digital billboard portfolio over the years and these investments have started reaping benefits. Its total digital billboard displays reached 2,105 at the end of the third quarter of 2023, increasing from 1,638 at the end of 2021. Moreover, the company’s efforts to convert its business from traditional static billboard advertising to digital displays help in the expansion of the number of new advertising relationships, in turn, providing scope to boost digital revenues. For 2023, we estimate a year-over-year increase of 4.6% in billboard revenues.
To enhance its portfolio, OUTFRONT Media has also capitalized on acquisitions. In the nine months ended Sep 30, 2023, the company acquired assets for around $30.7 million. Moreover, in 2022, it completed acquisitions worth $353.9 million. With such expansion efforts, it remains poised to grow over the long term.
Moreover, given the technological advancements and low-cost nature of out-of-home (OOH) advertising compared with other forms of media, it has been growing at a rapid pace and continues to increase its market share. In the upcoming years, higher technology investments are expected to provide further support to OOH advertising. Therefore, OUTFRONT Media’s efforts to provide a unique technology platform for marketers to tap into growth opportunities bode well.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have gained 20.9% compared with the industry’s growth of 3.9%.
Image Source: Zacks Investment Research
What’s Hurting It?
However, the company faces competition from other outdoor advertisers for customers, display locations and structures. It also competes with other media, including conventional platforms such as television, radio, print media, direct mail marketers and online, mobile & social media platforms. This is likely to weigh on the company’s pricing power in the market, affecting profitability.
Amid the current macroeconomic scenario, OUT is experiencing an increase in expenses. Management expects to continue incurring higher expenses for the remainder of 2023, which is likely to weigh upon the company’s bottom-line growth in the near term. Our estimate for its total operating expenses indicates a year-over-year increase of 7% in the current year.
A high interest rate environment will likely keep borrowing costs elevated for OUTFRONT Media, affecting its ability to purchase or develop real estate. Our estimate for the company’s 2023 net interest expenses indicates a rise of 21.3% year over year. Further, with high interest rates in place, the dividend payout may seem less attractive than the yields on fixed-income and money market accounts.
Stocks to Consider
Some better-ranked stocks from the REIT sector are Lamar Advertising LAMR, EastGroup Properties EGP and Stag Industrial STAG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Lamar Advertising’s current-year FFO per share has been raised 1.7% over the past two months to $7.31.
The Zacks Consensus Estimate for EastGroup Properties’ 2023 FFO per share has moved marginally north in the past two months to $7.70.
The Zacks Consensus Estimate for Stag Industrial’s ongoing year’s FFO per share has been raised 1.3% upward over the past two months to $2.28.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Lamar Advertising Company (LAMR) : Free Stock Analysis Report
Stag Industrial, Inc. (STAG) : Free Stock Analysis Report
EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report
OUTFRONT Media Inc. (OUT) : 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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OUTFRONT Media OUT is well-poised to benefit from its diversified portfolio of advertising sites, both geographical and industry-wise, in the key markets of the United States and Canada. The company’s large-scale presence paves the way for its clients to reach a national audience and provides the flexibility to tailor campaigns to specific regions or markets. Moreover, given the technological advancements and low-cost nature of out-of-home (OOH) advertising compared with other forms of media, it has been growing at a rapid pace and continues to increase its market share.
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OUTFRONT Media’s advertising sites are geographically diversified, with their presence across the United States and Canada. Stocks to Consider Some better-ranked stocks from the REIT sector are Lamar Advertising LAMR, EastGroup Properties EGP and Stag Industrial STAG, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Lamar Advertising Company (LAMR) : Free Stock Analysis Report Stag Industrial, Inc. (STAG) : Free Stock Analysis Report EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report OUTFRONT Media Inc. (OUT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Moreover, the company’s efforts to convert its business from traditional static billboard advertising to digital displays help in the expansion of the number of new advertising relationships, in turn, providing scope to boost digital revenues. Stocks to Consider Some better-ranked stocks from the REIT sector are Lamar Advertising LAMR, EastGroup Properties EGP and Stag Industrial STAG, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Lamar Advertising Company (LAMR) : Free Stock Analysis Report Stag Industrial, Inc. (STAG) : Free Stock Analysis Report EastGroup Properties, Inc. (EGP) : Free Stock Analysis Report OUTFRONT Media Inc. (OUT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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OUTFRONT Media has been making strategic investments in its digital billboard portfolio over the years and these investments have started reaping benefits. Our estimate for its total operating expenses indicates a year-over-year increase of 7% in the current year. Stocks to Consider Some better-ranked stocks from the REIT sector are Lamar Advertising LAMR, EastGroup Properties EGP and Stag Industrial STAG, each carrying a Zacks Rank #2 (Buy) at present.
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2023-12-11 00:00:00 UTC
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Medifast (MED) Collaborates With LifeMD, Discontinues Dividend
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Medifast, Inc. MED is committed to providing comprehensive health and wellness solutions to consumers throughout the United States. Management unveiled the first phase of its business transformation. As part of the transformation, Medifast will penetrate the medically supported weight loss market through a collaboration with LifeMD, Inc. (LFMD). LifeMD is a well-known provider of virtual primary care.
More on Headlines
The Zacks Rank #3 (Hold) company expects to make investments worth $20 million in LifeMD. The move integrates OPTAVIA’s personalized coach-guided and habit-based approach with LifeMD’s medical expertise and weight loss medications like GLP-1s. The collaboration, which is intended to create a comprehensive health solution, comes at a time when the obesity crisis and the need for medically-supported weight loss solutions are growing.
In December, Medifast introduced two product bundles for consumers who require medically supported weight loss. These products include ‘OPTAVIA Nutrition Kit for Medically Supported Weight Loss’ and ‘OPTAVIA Muscle Health Kit for Medically Supported Weight Loss’. MED’s strategic entry into the booming medically supported weight loss market holds promise. This space is likely to reach up to $100 billion by 2030.
Image Source: Zacks Investment Research
Discontinues Dividend
To adjust its capital allocation priorities, Medifast discontinued its quarterly cash dividend, effective immediately. The move will enable management to redirect capital towards technology and growth investments. This will help the company improve customer acquisition and experience to generate higher long-term stockholder returns. Talking about investments, the company designed a new marketing campaign to increase brand awareness and fuel customer adoption.
The discontinuation of dividends gives Medifast the flexibility to evolve its business model, as evidenced by the recent collaboration with LifeMD.
Shares of Medifast have declined 15.3% in the past three months compared with the industry’s 1.2% decline.
Top-Ranked Staple Stocks
MGP Ingredients, Inc. MGPI produces and markets ingredients and distillery products to the packaged goods industry. The company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. MGPI has a trailing four-quarter earnings surprise of 16.2% on average.
Celsius Holdings CELH, which offers functional drinks and liquid supplements, carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.6% in the third quarter of 2023.
The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers.
Vital Farms Inc. VITL offers a range of produced pasture-raised foods. It currently has a Zacks Rank #2. VITL has a trailing four-quarter earnings surprise of 145% on average.
The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
MEDIFAST INC (MED) : Free Stock Analysis Report
MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report
Celsius Holdings Inc. (CELH) : Free Stock Analysis Report
Vital Farms, Inc. (VITL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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 MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The Zacks Consensus Estimate for MGP Ingredients’ current financial year sales and earnings suggests growth of almost 6% and 14.2%, respectively, from the year-ago reported figures. The Zacks Consensus Estimate for Vital Farms’ current financial year sales suggests growth of 29.4% from the year-ago reported figure. Click to get this free report MEDIFAST INC (MED) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report Vital Farms, Inc. (VITL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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These products include ‘OPTAVIA Nutrition Kit for Medically Supported Weight Loss’ and ‘OPTAVIA Muscle Health Kit for Medically Supported Weight Loss’. The Zacks Consensus Estimate for Celsius Holdings’ current financial year sales and earnings suggests growth of 98.5% and 185.2%, respectively, from the year-ago reported numbers. Click to get this free report MEDIFAST INC (MED) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report Vital Farms, Inc. (VITL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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As part of the transformation, Medifast will penetrate the medically supported weight loss market through a collaboration with LifeMD, Inc. (LFMD). The company currently has a Zacks Rank #2 (Buy). Click to get this free report MEDIFAST INC (MED) : Free Stock Analysis Report MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report Celsius Holdings Inc. (CELH) : Free Stock Analysis Report Vital Farms, Inc. (VITL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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2023-12-11 00:00:00 UTC
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3 Stocks to Buy to Embrace a Soft Landing in 2024
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
As we get ready to start 2024, investors can’t turn on thefinancial newswithout hearing one or both sides of the soft landing debate. The question is whether the Federal Reserve can bring inflation down and cool down the economy without causing a recession. So, is it time to look for soft landing stocks, that is, stocks that will go up if this scenario comes to pass?
To answer that question, you must decide if the economy can achieve a soft landing. To be clear, I have an opinion, but so does everyone. It may be useful for investors to apply Occam’s razor principle. That is if you have two competing ideas to explain the same phenomenon, the simplest answer is probably right.
In this case, the simple answer is to look at what the data shows. And right now, that data is showing that the soft landing is more likely than not. You may disagree with that. I call it like I see it. What the data will say a month or three months from now may be completely different. But investing in this market requires you to be nimble. Here are three soft landing stocks to consider.
Walmart (WMT)
Source: fotomak / Shutterstock.com
When you’re looking for soft landing stocks, Walmart (NYSE:WMT) is a safe stock to start off your search. A soft landing may or may not lead to lower interest rates. With Walmart, lower interest rates aren’t your primary concern. The company hasn’t been immune from the impact of a weakening consumer. Still, revenue and earnings are positive year-over-year and analysts are forecasting high single-digit earnings growth over the next 12 months.
The company has been taking steps to have a larger omnichannel presence. The company’s buy online, pickup in-store (BOPUS) program is gaining momentum. And more importantly, the company is putting itself in a position to compete with Amazon (NASDAQ:AMZN) on more than just price.
Walmart stands to be a retail winner in the 2023 holiday season. Investors won’t get earnings results until February. But by that time, there may be more clarity as to the direction of the economy. At 22x forward earnings, the stock is reasonably valued.
D.R. Horton (DHI)
Source: Casimiro PT / Shutterstock.com
The surge in homebuilder stocks in 2023 has been a simple case of demand outpacing supply. The great relocation may be slowing down, but the transplants are still looking to plant roots in their new locations. D.R. Horton (NYSE:DHI) has been a standout performer.
The stock is up more than 65% for the year and recently made a new all-time high. There’s reason to believe that there could still be growth even if interest rates remain at their current level.
That being said, the stock is looking a little toppy. However, on December 13, DHI stock got a bullish price target increase from Barclays. The firm raised its target from $143 to $166.
One reason for the spike in D.R. Horton stock comes from the company’s solid fundamentals. Specifically, the company focuses on reducing the cycle times so they can turn homes faster and reduce their inventory levels. This allows them to align earnings per share (EPS) with cash flow more effectively.
Occidental Petroleum (OXY)
Source: T. Schneider / Shutterstock.com
Occidental Petroleum (NYSE:OXY) may seem like an odd candidate to appear with other soft-landing stocks. The conventional wisdom is that higher oil prices will signal the opposite of what the Federal Reserve is hoping for. It also tends to be negative for equities.
That may be true. However, some analysts believe that the yield on the 10-year Treasury bonds and the dollar will continue to weaken with or without rate cutting by the Federal Reserve. In that scenario, there’s room for oil prices to go higher without tanking the economy.
In that scenario, you’ll want oil stocks and Occidental is a good pick. OXY stock is at the lower end of its 52-week range.
In a year when many big oil companies are growing through acquisition, Occidental announced a deal to acquire CrownRock for $12 billion which will immediately improve the company’s free cash flow (FCF) accretion.
On the date of publication, Chris Markoch 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.
Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.
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The post 3 Stocks to Buy to Embrace a Soft Landing in 2024 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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Horton (DHI) Source: Casimiro PT / Shutterstock.com The surge in homebuilder stocks in 2023 has been a simple case of demand outpacing supply. 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 Stocks to Buy to Embrace a Soft Landing in 2024 appeared first on InvestorPlace.
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Walmart (WMT) Source: fotomak / Shutterstock.com When you’re looking for soft landing stocks, Walmart (NYSE:WMT) is a safe stock to start off your search. With Walmart, lower interest rates aren’t your primary concern. Occidental Petroleum (OXY) Source: T. Schneider / Shutterstock.com Occidental Petroleum (NYSE:OXY) may seem like an odd candidate to appear with other soft-landing stocks.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips As we get ready to start 2024, investors can’t turn on thefinancial newswithout hearing one or both sides of the soft landing debate. So, is it time to look for soft landing stocks, that is, stocks that will go up if this scenario comes to pass? Walmart (WMT) Source: fotomak / Shutterstock.com When you’re looking for soft landing stocks, Walmart (NYSE:WMT) is a safe stock to start off your search.
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So, is it time to look for soft landing stocks, that is, stocks that will go up if this scenario comes to pass? Here are three soft landing stocks to consider. Still, revenue and earnings are positive year-over-year and analysts are forecasting high single-digit earnings growth over the next 12 months.
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2023-12-11 00:00:00 UTC
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SoFi Stock Is Riding a Roller-Coaster But Gaining in 2023
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
After sinking to a low stock price of $4.50 at the start of 2023, SoFi Technologies (NASDAQ:SOFI) has made a decent comeback at $9.52, a respectable jump of 111%. It therefore has outpaced the S&P 500 that has spiked 20% this year through the start of December 2023. Nonetheless, analysts question whether SoFi’s stock is on target to keep rising while facing difficulty turning a profit.
SoFi, based in San Francisco, operates as an online financial services company, describing itself as “a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money.”
That fluctuating stock price happened despite improving results in the third quarter, when it had record revenue of $537 million, up 27% year over year from $423 million. CEO Anthony Noto noted that “Our record number of members and product additions, along with improving operating efficiency, reflect the benefits of our broad product suite.”
SoFi offers student loans, personal loans from $5,000 to $100,000, home improvement loans, mortgages, as well as family planning loans. It issues its own credit card with no annual fee and has an active rewards program. It’s trying to be an online, full-service JPMorgan Chase (NYSE:JPM).
So, if it was making more loans, operating efficiently, and attracting new members, why has its stock price not reached double digits, despite the spurt?
SOFI Stock Stuck in Single-Digit Range
Stated simply, SoFi Technologies has never turned a profit. Even when its revenue was rising in Q3, it still suffered a net loss of $266.68 million, greater than the $74.21 million loss the previous year.
About its outstanding third-quarter 2023 results, Michael Perito, a New York-based managing director and senior research analyst at Keefe, Bruyette & Woods, said that while results were “better than the Street expected, the quarter still had several things for both bulls and bears to highlight.” Despite SoFi indicating that it remains on track to sustain its earnings growth in the fourth quarter, Perito wasn’t convinced.
The analyst continues to question whether SoFi can “maintain growth without depleting capital.” His rating was “market perform,” as he noted that the SOFI stock price has hovered between $5 and $10. He called SoFi a “high-growth story” but cautioned that investors faced a “unique set of risks” at this early stage of growth.
He also had questions about its $15 million roster of personal loans. While SoFi maintains that each deal is different, Perito noted “we continue to be a bit cautious on the secondary market for personal loans.”
Perito characterized his target price of $7.50 for SoFi Technologies as revolving around “uncertainty around the bank’s long-term profitability, particularly around its cross-selling strategy.” He considers that strategy too costly, without providing enough revenue.
He also noted that if its acquisition strategy doesn’t come to fruition and meet its goals, “it could increase the platform’s need for external capital or debt to fund its operations.”
In fact, he observed that its current limited profitability “could hurt the company’s ability to generate capital in the future” if it fails to increase market share. In short, there’s not enough profit and SoFi faces several risks.
The Bottom Line
Perito paints a mixed portrait of what is going on with SoFi and whether to invest in it. What he sees, in essence, is SoFi making strides to turn things around and increase fourth-quarter profitability by improving efficiencies and increasing margins. Nonetheless, doubts linger of whether it can achieve these gains when it is still weighed down by intense competition and credit losses. Hence, his neutral rating of “market perform” remains.
On the date of publication, Gary Stern 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.
Gary Stern is a freelance financial writer and the co-author of From Scrappy to Self-Made: What Entrepreneurs Can Learn from an Ethiopian Refugee About Turning Roadblocks into an Empire (published by McGraw Hill, 2023).
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Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.
The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post SoFi Stock Is Riding a Roller-Coaster But Gaining in 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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SoFi, based in San Francisco, operates as an online financial services company, describing itself as “a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money.” That fluctuating stock price happened despite improving results in the third quarter, when it had record revenue of $537 million, up 27% year over year from $423 million. Gary Stern is a freelance financial writer and the co-author of From Scrappy to Self-Made: What Entrepreneurs Can Learn from an Ethiopian Refugee About Turning Roadblocks into an Empire (published by McGraw Hill, 2023). The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post SoFi Stock Is Riding a Roller-Coaster But Gaining in 2023 appeared first on InvestorPlace.
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Nonetheless, analysts question whether SoFi’s stock is on target to keep rising while facing difficulty turning a profit. SoFi, based in San Francisco, operates as an online financial services company, describing itself as “a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money.” That fluctuating stock price happened despite improving results in the third quarter, when it had record revenue of $537 million, up 27% year over year from $423 million. The analyst continues to question whether SoFi can “maintain growth without depleting capital.” His rating was “market perform,” as he noted that the SOFI stock price has hovered between $5 and $10.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips After sinking to a low stock price of $4.50 at the start of 2023, SoFi Technologies (NASDAQ:SOFI) has made a decent comeback at $9.52, a respectable jump of 111%. SoFi, based in San Francisco, operates as an online financial services company, describing itself as “a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money.” That fluctuating stock price happened despite improving results in the third quarter, when it had record revenue of $537 million, up 27% year over year from $423 million. While SoFi maintains that each deal is different, Perito noted “we continue to be a bit cautious on the secondary market for personal loans.” Perito characterized his target price of $7.50 for SoFi Technologies as revolving around “uncertainty around the bank’s long-term profitability, particularly around its cross-selling strategy.” He considers that strategy too costly, without providing enough revenue.
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Nonetheless, analysts question whether SoFi’s stock is on target to keep rising while facing difficulty turning a profit. The analyst continues to question whether SoFi can “maintain growth without depleting capital.” His rating was “market perform,” as he noted that the SOFI stock price has hovered between $5 and $10. He also had questions about its $15 million roster of personal loans.
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bf8d5414-d2d5-4a1a-8672-6fbf861600d2
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713937.0
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2023-12-11 00:00:00 UTC
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Dow Movers: TRV, WBA
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DCOMP
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https://www.nasdaq.com/articles/dow-movers%3A-trv-wba
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nan
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nan
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In early trading on Thursday, shares of Walgreens Boots Alliance topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. Year to date, Walgreens Boots Alliance has lost about 32.2% of its value.
And the worst performing Dow component thus far on the day is Travelers Companies, trading down 2.1%. Travelers Companies is lower by about 3.3% looking at the year to date performance.
Two other components making moves today are UnitedHealth Group, trading down 1.6%, and Intel, trading up 2.7% on the day.
VIDEO: Dow Movers: TRV, WBA
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 early trading on Thursday, shares of Walgreens Boots Alliance topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. And the worst performing Dow component thus far on the day is Travelers Companies, trading down 2.1%. Travelers Companies is lower by about 3.3% looking at the year to date performance.
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In early trading on Thursday, shares of Walgreens Boots Alliance topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. Year to date, Walgreens Boots Alliance has lost about 32.2% of its value. And the worst performing Dow component thus far on the day is Travelers Companies, trading down 2.1%.
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In early trading on Thursday, shares of Walgreens Boots Alliance topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. And the worst performing Dow component thus far on the day is Travelers Companies, trading down 2.1%. Two other components making moves today are UnitedHealth Group, trading down 1.6%, and Intel, trading up 2.7% on the day.
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Year to date, Walgreens Boots Alliance has lost about 32.2% of its value. And the worst performing Dow component thus far on the day is Travelers Companies, trading down 2.1%. VIDEO: Dow Movers: TRV, WBA 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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911577d1-51c7-4c98-bcc1-53c320935e57
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713938.0
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2023-12-11 00:00:00 UTC
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S&P 500 Movers: ADBE, MRNA
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DCOMP
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https://www.nasdaq.com/articles/sp-500-movers%3A-adbe-mrna
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nan
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nan
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In early trading on Thursday, shares of Moderna topped the list of the day's best performing components of the S&P 500 index, trading up 15.2%. Year to date, Moderna has lost about 49.6% of its value.
And the worst performing S&P 500 component thus far on the day is Adobe, trading down 6.9%. Adobe is showing a gain of 72.6% looking at the year to date performance.
Two other components making moves today are Cardinal Health, trading down 6.1%, and Align Technology, trading up 9.2% on the day.
VIDEO: S&P 500 Movers: ADBE, MRNA
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 the worst performing S&P 500 component thus far on the day is Adobe, trading down 6.9%. Adobe is showing a gain of 72.6% looking at the year to date performance. VIDEO: S&P 500 Movers: ADBE, MRNA 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 early trading on Thursday, shares of Moderna topped the list of the day's best performing components of the S&P 500 index, trading up 15.2%. Year to date, Moderna has lost about 49.6% of its value. And the worst performing S&P 500 component thus far on the day is Adobe, trading down 6.9%.
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In early trading on Thursday, shares of Moderna topped the list of the day's best performing components of the S&P 500 index, trading up 15.2%. And the worst performing S&P 500 component thus far on the day is Adobe, trading down 6.9%. Two other components making moves today are Cardinal Health, trading down 6.1%, and Align Technology, trading up 9.2% on the day.
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And the worst performing S&P 500 component thus far on the day is Adobe, trading down 6.9%. Adobe is showing a gain of 72.6% looking at the year to date performance. VIDEO: S&P 500 Movers: ADBE, MRNA 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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4e07826a-c10d-482b-919a-2759ae961acc
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713939.0
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2023-12-11 00:00:00 UTC
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Earnings Estimates Rising for Smartsheet (SMAR): Will It Gain?
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DCOMP
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https://www.nasdaq.com/articles/earnings-estimates-rising-for-smartsheet-smar%3A-will-it-gain
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nan
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nan
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Smartsheet (SMAR) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
The upward trend in estimate revisions for this maker of a cloud-based work-management platform reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Smartsheet, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.18 per share for the current quarter represents a change of +157.14% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Smartsheet has increased 24.86% because six estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the earnings estimate of $0.67 per share represents a change of +404.55% from the year-ago number.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, six estimates have moved up for Smartsheet versus no negative revisions. This has pushed the consensus estimate 16.03% higher.
Favorable Zacks Rank
Thanks to promising estimate revisions, Smartsheet currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Smartsheet have attracted decent investments and pushed the stock 8.4% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Smartsheet (SMAR) : 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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After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Current-Quarter Estimate Revisions The earnings estimate of $0.18 per share for the current quarter represents a change of +157.14% from the number reported a year ago. Over the last 30 days, the Zacks Consensus Estimate for Smartsheet has increased 24.86% because six estimates have moved higher compared to no negative revisions. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
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The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Over the last 30 days, the Zacks Consensus Estimate for Smartsheet has increased 24.86% because six estimates have moved higher compared to no negative revisions. Favorable Zacks Rank Thanks to promising estimate revisions, Smartsheet currently carries a Zacks Rank #2 (Buy).
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For Smartsheet, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year. Over the last 30 days, the Zacks Consensus Estimate for Smartsheet has increased 24.86% because six estimates have moved higher compared to no negative revisions. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
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cfd7b052-6f23-4ad3-a4d2-69f826de60d5
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713940.0
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2023-12-11 00:00:00 UTC
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Earnings Estimates Rising for Credo Technology Group Holding Ltd. (CRDO): Will It Gain?
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DCOMP
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https://www.nasdaq.com/articles/earnings-estimates-rising-for-credo-technology-group-holding-ltd.-crdo%3A-will-it-gain
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nan
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nan
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Credo Technology Group Holding Ltd. (CRDO) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Credo Technology Group Holding Ltd. Strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.03 per share for the current quarter represents a change of -40% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Credo Technology Group Holding Ltd. has increased 40% because two estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the earnings estimate of $0.07 per share represents a change of +40% from the year-ago number.
There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, three estimates have moved up for Credo Technology Group Holding Ltd. versus no negative revisions. This has pushed the consensus estimate 20% higher.
Favorable Zacks Rank
Thanks to promising estimate revisions, Credo Technology Group Holding Ltd. currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Credo Technology Group Holding Ltd. have attracted decent investments and pushed the stock 6.7% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Credo Technology Group Holding Ltd. (CRDO) : 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.
|
Credo Technology Group Holding Ltd. (CRDO) could be a solid choice for investors given the company's remarkably improving earnings outlook. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Over the last 30 days, the Zacks Consensus Estimate for Credo Technology Group Holding Ltd. has increased 40% because two estimates have moved higher compared to no negative revisions. Favorable Zacks Rank Thanks to promising estimate revisions, Credo Technology Group Holding Ltd. currently carries a Zacks Rank #2 (Buy). Click to get this free report Credo Technology Group Holding Ltd. (CRDO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Over the last 30 days, the Zacks Consensus Estimate for Credo Technology Group Holding Ltd. has increased 40% because two estimates have moved higher compared to no negative revisions. Favorable Zacks Rank Thanks to promising estimate revisions, Credo Technology Group Holding Ltd. currently carries a Zacks Rank #2 (Buy).
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For Credo Technology Group Holding Ltd. Strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year. Over the last 30 days, the Zacks Consensus Estimate for Credo Technology Group Holding Ltd. has increased 40% because two estimates have moved higher compared to no negative revisions. Favorable Zacks Rank Thanks to promising estimate revisions, Credo Technology Group Holding Ltd. currently carries a Zacks Rank #2 (Buy).
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1d48f0a8-573d-45b7-8175-e76b50755fec
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713941.0
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2023-12-11 00:00:00 UTC
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IJR, RMBS, ELF, FIX: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/ijr-rmbs-elf-fix%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 iShares Core S&P Small-Cap ETF (Symbol: IJR) where we have detected an approximate $385.3 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 699,850,000 to 703,550,000). Among the largest underlying components of IJR, in trading today Rambus Inc. (Symbol: RMBS) is up about 3.5%, e.l.f. Beauty Inc (Symbol: ELF) is up about 2.5%, and Comfort Systems USA Inc (Symbol: FIX) is up by about 1%. For a complete list of holdings, visit the IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average:
Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $106.72. 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:
Funds Holding HK
BOFI Insider Buying
VZ Dividend 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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Among the largest underlying components of IJR, in trading today Rambus Inc. (Symbol: RMBS) is up about 3.5%, e.l.f. 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: Funds Holding HK BOFI Insider Buying VZ Dividend 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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Among the largest underlying components of IJR, in trading today Rambus Inc. (Symbol: RMBS) is up about 3.5%, e.l.f. For a complete list of holdings, visit the IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average: Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $106.72. 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 iShares Core S&P Small-Cap ETF (Symbol: IJR) where we have detected an approximate $385.3 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 699,850,000 to 703,550,000). For a complete list of holdings, visit the IJR Holdings page » The chart below shows the one year price performance of IJR, versus its 200 day moving average: Looking at the chart above, IJR's low point in its 52 week range is $87.3201 per share, with $108.24 as the 52 week high point — that compares with a last trade of $106.72. 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 Core S&P Small-Cap ETF (Symbol: IJR) where we have detected an approximate $385.3 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 699,850,000 to 703,550,000). Among the largest underlying components of IJR, in trading today Rambus Inc. (Symbol: RMBS) is up about 3.5%, e.l.f. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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96115e33-3b09-45fe-8047-fd243fd20536
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713942.0
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2023-12-11 00:00:00 UTC
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Intel says dozens of PC makers are using its new AI-enabled chip
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DCOMP
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https://www.nasdaq.com/articles/intel-says-dozens-of-pc-makers-are-using-its-new-ai-enabled-chip
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nan
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nan
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By Stephen Nellis
Dec 14 (Reuters) - Intel INTC.O on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots.
At a press event in New York, Intel said the new offering will be available in laptops from Dell Technologies DELL.N, Microsoft MSFT.O, Lenovo Group 0992.HK and others that will go on sale on Thursday at Best Buy BBY.N in the U.S. and other global retailers including China's JD.com 9618.HK and Australia's Harvey Norman HVN.AX.
Intel shares rose as much as 3.6% after the news.
Intel's central processor units (CPUs) have long served as the brains of most personal computers. But the new chip that went by the code name "Meteor Lake" is Intel's first that will also contain what is called an neural processing unit (NPU), a section of the chip dedicated to handling artificial intelligence tasks.
Intel's pitch to consumers and businesses comes as it is fighting its way out of a post-pandemic PC slump where buyers who upgraded to work from home in 2020 have seen little reason to buy new equipment.
Intel Chief Executive Pat Gelsinger said during the event that Intel believes using its chips will make AI services cheaper, faster and more private than using services based in cloud data centers.
"That will be the star of the show in this coming year," Gelsinger said of AI on PCs. "You're unleashing this power for every person, every use case, every location in the future."
During a demonstration of the new chip in September, the company showed some examples of AI work that it hoped would spur interest, such as transcribing voice notes without having to send data to a third-party cloud provider or generating a song in the style of pop star Taylor Swift.
Intel on Thursday also showed what it said was the first working version of a chip called Gaudi 3, which it hopes will challenge NvidiaNVDA.O in the data center AI market.
(Reporting by Stephen Nellis in San Francisco; Editing by Jamie Freed)
((Stephen.Nellis@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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By Stephen Nellis Dec 14 (Reuters) - Intel INTC.O on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots. At a press event in New York, Intel said the new offering will be available in laptops from Dell Technologies DELL.N, Microsoft MSFT.O, Lenovo Group 0992.HK and others that will go on sale on Thursday at Best Buy BBY.N in the U.S. and other global retailers including China's JD.com 9618.HK and Australia's Harvey Norman HVN.AX. During a demonstration of the new chip in September, the company showed some examples of AI work that it hoped would spur interest, such as transcribing voice notes without having to send data to a third-party cloud provider or generating a song in the style of pop star Taylor Swift.
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Intel Chief Executive Pat Gelsinger said during the event that Intel believes using its chips will make AI services cheaper, faster and more private than using services based in cloud data centers. During a demonstration of the new chip in September, the company showed some examples of AI work that it hoped would spur interest, such as transcribing voice notes without having to send data to a third-party cloud provider or generating a song in the style of pop star Taylor Swift. Intel on Thursday also showed what it said was the first working version of a chip called Gaudi 3, which it hopes will challenge NvidiaNVDA.O in the data center AI market.
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By Stephen Nellis Dec 14 (Reuters) - Intel INTC.O on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots. Intel Chief Executive Pat Gelsinger said during the event that Intel believes using its chips will make AI services cheaper, faster and more private than using services based in cloud data centers. Intel on Thursday also showed what it said was the first working version of a chip called Gaudi 3, which it hopes will challenge NvidiaNVDA.O in the data center AI market.
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By Stephen Nellis Dec 14 (Reuters) - Intel INTC.O on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots. At a press event in New York, Intel said the new offering will be available in laptops from Dell Technologies DELL.N, Microsoft MSFT.O, Lenovo Group 0992.HK and others that will go on sale on Thursday at Best Buy BBY.N in the U.S. and other global retailers including China's JD.com 9618.HK and Australia's Harvey Norman HVN.AX. Intel on Thursday also showed what it said was the first working version of a chip called Gaudi 3, which it hopes will challenge NvidiaNVDA.O in the data center AI market.
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936b0732-5b0d-4022-981f-95e435db3d15
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713943.0
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2023-12-11 00:00:00 UTC
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Reinsurance Group (RGA) Rises 17% YTD: Will the Rally Last?
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DCOMP
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https://www.nasdaq.com/articles/reinsurance-group-rga-rises-17-ytd%3A-will-the-rally-last
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nan
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nan
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Reinsurance Group of America, Incorporated’s RGA shares have gained 17.2% year to date, outperforming the industry’s increase of 17.1% and the Finance sector’s rise of 11.1%. With a market capitalization of $11 billion, the average volume of shares traded in the last three months was 0.4 million.
Higher new business volumes, better pricing, favorable longevity experience, stronger invested asset base, business expansion in the pension risk transfer market, solid in-force business ensuring predictable long-term earnings and effective capital deployment continue to drive this Zacks Rank #2 (Buy) insurer.
This leading global provider of traditional life and health reinsurance and financial solutions has a decent surprise history, delivering an earnings surprise in the three reported quarters of 2023. Earnings of this insurer increased 16.5% in the last five years.
The Zacks Consensus Estimate for 2023 and 2024 earnings has moved 1.9% and 4.7% north, respectively, in the past 30 days, reflecting analysts’ optimism.
Reinsurance Group is poised for progress, which is evident from its favorable VGM Score of A. VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
Return on equity, reflecting how efficiently a company is utilizing shareholders’ funds, is 17.4%, better than the industry average of 14.8%.
Image Source: Zacks Investment Research
Will the Bull Run Continue?
Reinsurance Group boasts a leadership position in the United States, Latin America and Canada by virtue of its compelling product portfolio and operational expertise.
Significant value embedded in the in-force business is anticipated to generate predictable long-term earnings. Product line expansion contributes to risk diversification and matured individual mortality, providing a base for stable earnings and capital generation.
Longevity insurance provides a source of diversified income, as well as acts as a hedge to a large mortality position. Increasing demand for longevity insurance is expected to drive long-term growth for the product.
Life insurers are direct beneficiaries of an improving interest rate environment. RGA’s high-quality investment portfolio is well-positioned as it remains diversified across asset classes, sectors, issuers and geography. Though the Fed has stalled rate increases for some time, it has already made 11 hikes since 2022.
RGA’s solid capital position with excess capital of around $1.1 billion offers sufficient financial flexibility and supports effective capital deployment. While the insurer raised its dividend by 6.3% in August 2023, it also has $200 million remaining under its authorization.
The stocks are trading at a price to book value of 1.4, lower than the industry average of 1.7. It has a Value Score of A. This style score helps find the most attractive value stocks. Back-tested results have shown that stocks with a Value Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 offer better returns.
Other Stocks to Consider
Some other top-ranked stocks from the insurance space are American Equity Investment Life Holding AEL, Primerica PRI and Horace Mann Educators HMN, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Equity delivered a trailing four-quarter average earnings surprise of 13.53%. The stock has gained 21.6% year to date. The Zacks Consensus Estimate for AEL’s 2024 earnings has moved 2.8% higher in the past 30 days.
Primerica delivered a trailing four-quarter average earnings surprise of 7.87%. The stock has surged 50% year to date. The Zacks Consensus Estimate for PRI’s 2024 earnings has moved 0.2% higher in the past 30 days.
Horace Mann delivered a trailing four-quarter average earnings surprise of 19.30%. The stock has lost 9.6% year to date. The Zacks Consensus Estimate for HMN’s 2024 earnings indicates a 122.2% year-over-year increase.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
American Equity Investment Life Holding Company (AEL) : Free Stock Analysis Report
Reinsurance Group of America, Incorporated (RGA) : Free Stock Analysis Report
Primerica, Inc. (PRI) : Free Stock Analysis Report
Horace Mann Educators Corporation (HMN) : 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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Reinsurance Group of America, Incorporated’s RGA shares have gained 17.2% year to date, outperforming the industry’s increase of 17.1% and the Finance sector’s rise of 11.1%. Reinsurance Group boasts a leadership position in the United States, Latin America and Canada by virtue of its compelling product portfolio and operational expertise. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Higher new business volumes, better pricing, favorable longevity experience, stronger invested asset base, business expansion in the pension risk transfer market, solid in-force business ensuring predictable long-term earnings and effective capital deployment continue to drive this Zacks Rank #2 (Buy) insurer. Other Stocks to Consider Some other top-ranked stocks from the insurance space are American Equity Investment Life Holding AEL, Primerica PRI and Horace Mann Educators HMN, each carrying a Zacks Rank #2. Click to get this free report American Equity Investment Life Holding Company (AEL) : Free Stock Analysis Report Reinsurance Group of America, Incorporated (RGA) : Free Stock Analysis Report Primerica, Inc. (PRI) : Free Stock Analysis Report Horace Mann Educators Corporation (HMN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Higher new business volumes, better pricing, favorable longevity experience, stronger invested asset base, business expansion in the pension risk transfer market, solid in-force business ensuring predictable long-term earnings and effective capital deployment continue to drive this Zacks Rank #2 (Buy) insurer. Other Stocks to Consider Some other top-ranked stocks from the insurance space are American Equity Investment Life Holding AEL, Primerica PRI and Horace Mann Educators HMN, each carrying a Zacks Rank #2. Click to get this free report American Equity Investment Life Holding Company (AEL) : Free Stock Analysis Report Reinsurance Group of America, Incorporated (RGA) : Free Stock Analysis Report Primerica, Inc. (PRI) : Free Stock Analysis Report Horace Mann Educators Corporation (HMN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Reinsurance Group of America, Incorporated’s RGA shares have gained 17.2% year to date, outperforming the industry’s increase of 17.1% and the Finance sector’s rise of 11.1%. Earnings of this insurer increased 16.5% in the last five years. Other Stocks to Consider Some other top-ranked stocks from the insurance space are American Equity Investment Life Holding AEL, Primerica PRI and Horace Mann Educators HMN, each carrying a Zacks Rank #2.
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2a384ba7-e786-4cb4-ae36-2ef3cf970e38
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713944.0
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2023-12-11 00:00:00 UTC
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Are You Looking for a Top Momentum Pick? Why Deckers (DECK) is a Great Choice
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DCOMP
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https://www.nasdaq.com/articles/are-you-looking-for-a-top-momentum-pick-why-deckers-deck-is-a-great-choice
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nan
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nan
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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Deckers (DECK), a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Deckers currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if DECK is a promising momentum pick, let's examine some Momentum Style elements to see if this maker of Ugg footwear holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For DECK, shares are up 1.51% over the past week while the Zacks Retail - Apparel and Shoes industry is flat over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 13.75% compares favorably with the industry's 2.94% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of Deckers have risen 37.35%, and are up 84.41% in the last year. On the other hand, the S&P 500 has only moved 5.78% and 19.28%, respectively.
Investors should also take note of DECK's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, DECK is averaging 317,707 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with DECK.
Over the past two months, 10 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost DECK's consensus estimate, increasing from $22.40 to $23.47 in the past 60 days. Looking at the next fiscal year, 9 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that DECK is a #2 (Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Deckers on your short list.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Deckers Outdoor Corporation (DECK) : 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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It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Over the past two months, 10 earnings estimates moved higher compared to none lower for the full year.
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The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement.
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You can see the current list of Zacks #1 Rank Stocks here >>> Set to Beat the Market? Right now, DECK is averaging 317,707 shares for the last 20 days. Over the past two months, 10 earnings estimates moved higher compared to none lower for the full year.
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68f65e8e-09ce-47f7-b0b0-dc365267f058
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713945.0
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2023-12-11 00:00:00 UTC
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IWM, SMCI, SSD, LNW: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/iwm-smci-ssd-lnw%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 iShares Russell 2000 ETF (Symbol: IWM) where we have detected an approximate $174.2 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 299,900,000 to 300,800,000). Among the largest underlying components of IWM, in trading today Super Micro Computer Inc (Symbol: SMCI) is up about 3.6%, Simpson Manufacturing Co., Inc. (Symbol: SSD) is up about 1.9%, and Light & Wonder Inc (Symbol: LNW) is higher by about 1.3%. For a complete list of holdings, visit the IWM Holdings page » The chart below shows the one year price performance of IWM, versus its 200 day moving average:
Looking at the chart above, IWM's low point in its 52 week range is $161.67 per share, with $200.035 as the 52 week high point — that compares with a last trade of $197.91. 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:
Top Ten Hedge Funds Holding DFIV
CIM Historical Stock Prices
Funds Holding JRCC
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: Top Ten Hedge Funds Holding DFIV CIM Historical Stock Prices Funds Holding JRCC 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 IWM Holdings page » The chart below shows the one year price performance of IWM, versus its 200 day moving average: Looking at the chart above, IWM's low point in its 52 week range is $161.67 per share, with $200.035 as the 52 week high point — that compares with a last trade of $197.91. 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: Top Ten Hedge Funds Holding DFIV CIM Historical Stock Prices Funds Holding JRCC 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 Russell 2000 ETF (Symbol: IWM) where we have detected an approximate $174.2 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 299,900,000 to 300,800,000). For a complete list of holdings, visit the IWM Holdings page » The chart below shows the one year price performance of IWM, versus its 200 day moving average: Looking at the chart above, IWM's low point in its 52 week range is $161.67 per share, with $200.035 as the 52 week high point — that compares with a last trade of $197.91. 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 Russell 2000 ETF (Symbol: IWM) where we have detected an approximate $174.2 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 299,900,000 to 300,800,000). Among the largest underlying components of IWM, in trading today Super Micro Computer Inc (Symbol: SMCI) is up about 3.6%, Simpson Manufacturing Co., Inc. (Symbol: SSD) is up about 1.9%, and Light & Wonder Inc (Symbol: LNW) is higher by about 1.3%. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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84791c80-710d-4c9f-af3f-a6b247e0821d
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713946.0
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2023-12-11 00:00:00 UTC
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IWP, APO, DXCM, IDXX: Large Inflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/iwp-apo-dxcm-idxx%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 iShares Russell Mid-Cap Growth ETF (Symbol: IWP) where we have detected an approximate $173.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 136,650,000 to 138,350,000). Among the largest underlying components of IWP, in trading today Apollo Global Management Inc (new (Symbol: APO) is off about 0.8%, DexCom Inc (Symbol: DXCM) is up about 2.7%, and Idexx Laboratories, Inc. (Symbol: IDXX) is up by about 0.1%. For a complete list of holdings, visit the IWP Holdings page » The chart below shows the one year price performance of IWP, versus its 200 day moving average:
Looking at the chart above, IWP's low point in its 52 week range is $81.975 per share, with $103.93 as the 52 week high point — that compares with a last trade of $103.40. 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:
Live Ventures Historical Earnings
Funds Holding EXFO
RALS 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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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: Live Ventures Historical Earnings Funds Holding EXFO RALS 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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Among the largest underlying components of IWP, in trading today Apollo Global Management Inc (new (Symbol: APO) is off about 0.8%, DexCom Inc (Symbol: DXCM) is up about 2.7%, and Idexx Laboratories, Inc. (Symbol: IDXX) is up by about 0.1%. For a complete list of holdings, visit the IWP Holdings page » The chart below shows the one year price performance of IWP, versus its 200 day moving average: Looking at the chart above, IWP's low point in its 52 week range is $81.975 per share, with $103.93 as the 52 week high point — that compares with a last trade of $103.40. 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 iShares Russell Mid-Cap Growth ETF (Symbol: IWP) where we have detected an approximate $173.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 136,650,000 to 138,350,000). For a complete list of holdings, visit the IWP Holdings page » The chart below shows the one year price performance of IWP, versus its 200 day moving average: Looking at the chart above, IWP's low point in its 52 week range is $81.975 per share, with $103.93 as the 52 week high point — that compares with a last trade of $103.40. 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 Russell Mid-Cap Growth ETF (Symbol: IWP) where we have detected an approximate $173.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 136,650,000 to 138,350,000). Among the largest underlying components of IWP, in trading today Apollo Global Management Inc (new (Symbol: APO) is off about 0.8%, DexCom Inc (Symbol: DXCM) is up about 2.7%, and Idexx Laboratories, Inc. (Symbol: IDXX) is up by about 0.1%. 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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f2e89f45-72da-4d33-ad86-83a2898668b5
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713947.0
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2023-12-11 00:00:00 UTC
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DES, CEIX, EPR, CCOI: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/des-ceix-epr-ccoi%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 WisdomTree U.S. SmallCap Dividend Fund (Symbol: DES) where we have detected an approximate $191.1 million dollar inflow -- that's a 10.0% increase week over week in outstanding units (from 61,050,000 to 67,150,000). Among the largest underlying components of DES, in trading today CONSOL Energy Inc (Symbol: CEIX) is up about 1.1%, EPR Properties (Symbol: EPR) is up about 0.8%, and Cogent Communications Holdings, Inc. (Symbol: CCOI) is up by about 1.9%. For a complete list of holdings, visit the DES Holdings page » The chart below shows the one year price performance of DES, versus its 200 day moving average:
Looking at the chart above, DES's low point in its 52 week range is $26.4101 per share, with $32.31 as the 52 week high point — that compares with a last trade of $32.03. 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:
Institutional Holders of OSIZ
Top Ten Hedge Funds Holding HCMT
DS Split History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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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 WisdomTree U.S. SmallCap Dividend Fund (Symbol: DES) where we have detected an approximate $191.1 million dollar inflow -- that's a 10.0% increase week over week in outstanding units (from 61,050,000 to 67,150,000). 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: Institutional Holders of OSIZ Top Ten Hedge Funds Holding HCMT DS Split History The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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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 WisdomTree U.S. SmallCap Dividend Fund (Symbol: DES) where we have detected an approximate $191.1 million dollar inflow -- that's a 10.0% increase week over week in outstanding units (from 61,050,000 to 67,150,000). For a complete list of holdings, visit the DES Holdings page » The chart below shows the one year price performance of DES, versus its 200 day moving average: Looking at the chart above, DES's low point in its 52 week range is $26.4101 per share, with $32.31 as the 52 week high point — that compares with a last trade of $32.03. 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 WisdomTree U.S. SmallCap Dividend Fund (Symbol: DES) where we have detected an approximate $191.1 million dollar inflow -- that's a 10.0% increase week over week in outstanding units (from 61,050,000 to 67,150,000). For a complete list of holdings, visit the DES Holdings page » The chart below shows the one year price performance of DES, versus its 200 day moving average: Looking at the chart above, DES's low point in its 52 week range is $26.4101 per share, with $32.31 as the 52 week high point — that compares with a last trade of $32.03. 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 WisdomTree U.S. SmallCap Dividend Fund (Symbol: DES) where we have detected an approximate $191.1 million dollar inflow -- that's a 10.0% increase week over week in outstanding units (from 61,050,000 to 67,150,000). Among the largest underlying components of DES, in trading today CONSOL Energy Inc (Symbol: CEIX) is up about 1.1%, EPR Properties (Symbol: EPR) is up about 0.8%, and Cogent Communications Holdings, Inc. (Symbol: CCOI) is up by about 1.9%. 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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2638e1cd-493a-4f62-a757-fb3edd3053d1
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713948.0
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2023-12-11 00:00:00 UTC
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ARK Innovation ETF Experiences Big Outflow
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DCOMP
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https://www.nasdaq.com/articles/ark-innovation-etf-experiences-big-outflow-8
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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 ARK Innovation ETF (Symbol: ARKK) where we have detected an approximate $85.3 million dollar outflow -- that's a 1.0% decrease week over week (from 173,400,000 to 171,700,000). Among the largest underlying components of ARKK, in trading today Coinbase Global Inc (Symbol: COIN) is off about 0.5%, Roku Inc (Symbol: ROKU) is up about 4.8%, and UiPath Inc (Symbol: PATH) is higher by about 2.8%. For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average:
Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $52.50 as the 52 week high point — that compares with a last trade of $51.90. 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:
Auto Manufacturers Dividend Stocks
AVXL Historical Stock Prices
Funds Holding KVSB
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: Auto Manufacturers Dividend Stocks AVXL Historical Stock Prices Funds Holding KVSB 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 ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average: Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $52.50 as the 52 week high point — that compares with a last trade of $51.90. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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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 ARK Innovation ETF (Symbol: ARKK) where we have detected an approximate $85.3 million dollar outflow -- that's a 1.0% decrease week over week (from 173,400,000 to 171,700,000). For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average: Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $52.50 as the 52 week high point — that compares with a last trade of $51.90. 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 ARK Innovation ETF (Symbol: ARKK) where we have detected an approximate $85.3 million dollar outflow -- that's a 1.0% decrease week over week (from 173,400,000 to 171,700,000). For a complete list of holdings, visit the ARKK Holdings page » The chart below shows the one year price performance of ARKK, versus its 200 day moving average: Looking at the chart above, ARKK's low point in its 52 week range is $29.43 per share, with $52.50 as the 52 week high point — that compares with a last trade of $51.90. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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51deccf0-e1f4-44ee-83bc-ca78965bdb77
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713949.0
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2023-12-11 00:00:00 UTC
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Photronics (PLAB) Q4 Earnings Top Estimates, Revenues Up Y/Y
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DCOMP
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https://www.nasdaq.com/articles/photronics-plab-q4-earnings-top-estimates-revenues-up-y-y
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Photronics PLAB reported fourth-quarter fiscal 2023 non-GAAP earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate by 13.21% and increased 17.6% year over year.
Revenues of $227.5 million inched up 1.5% year over year.
Quarter Details
Integrated Circuit revenues climbed 1% sequentially and 5% year over year to $164.5 million. The top line benefited from the strong revenue performance of high-end IC masks (using 28 nanometer and smaller technology), which jumped 27% sequentially. However, mainstream revenues decreased 9%.
FPD revenues rose 17% year over year to $63 million. Sequentially, revenues increased 3%. Photronics’ high-end revenues increased 7%.
China revenues declined from 53% of total revenues in the fiscal third quarter to 44% in the reported quarter.
Photronics, Inc. Price, Consensus and EPS Surprise
Photronics, Inc. price-consensus-eps-surprise-chart | Photronics, Inc. Quote
Fourth-quarter fiscal 2023 gross margin expanded 150 basis points (bps) year over year to 37.3%.
Research & development expenses, as a percentage of revenues, decreased 30 bps year over year to 1.5%. However, sales and marketing expenses, as a percentage of revenues, increased 40 bps year over year to 7.4%.
Operating income was $64.8 million, up 7% year over year. Operating margin expanded 150 bps year over year to 28.5%.
Balance Sheet & Cash Flow
As of Oct 31, 2023, cash and cash equivalents were $512.2 million, while long-term debt was $18 million.
Cash generated from operating activities was $106.6 million and cash invested in organic growth through capital expenditures was $52.5 million.
Guidance
For the first quarter of fiscal 2024, Photronics expects revenues between $217 million and $225 million.
Earnings are expected between 45 cents and 53 cents per share.
Zacks Rank & Stocks to Consider
Photronics currently has a Zacks Rank #3 (Hold).
Flex FLEX, Badger Meter BMI and Ceridian HCM CDAY are some better-ranked stocks in the broader sector, each currently 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 5.8% in the past three months. The long-term earnings growth rate is pegged at 12.39%.
Badger Meter shares have declined 1.7% in the past three months. The long-term earnings growth rate is pegged at 20.39%.
Ceridian shares have lost 2.4% over the same timeframe. The long-term earnings growth rate is pegged at 44.15%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Photronics, Inc. (PLAB) : Free Stock Analysis Report
Ceridian HCM (CDAY) : 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 top line benefited from the strong revenue performance of high-end IC masks (using 28 nanometer and smaller technology), which jumped 27% sequentially. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains. Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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Photronics PLAB reported fourth-quarter fiscal 2023 non-GAAP earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate by 13.21% and increased 17.6% year over year. Flex FLEX, Badger Meter BMI and Ceridian HCM CDAY are some better-ranked stocks in the broader sector, each currently 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 Photronics, Inc. (PLAB) : Free Stock Analysis Report Ceridian HCM (CDAY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Photronics PLAB reported fourth-quarter fiscal 2023 non-GAAP earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate by 13.21% and increased 17.6% year over year. Revenues of $227.5 million inched up 1.5% year over year. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Flex Ltd. (FLEX) : Free Stock Analysis Report Photronics, Inc. (PLAB) : Free Stock Analysis Report Ceridian HCM (CDAY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Photronics PLAB reported fourth-quarter fiscal 2023 non-GAAP earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate by 13.21% and increased 17.6% year over year. Guidance For the first quarter of fiscal 2024, Photronics expects revenues between $217 million and $225 million. Earnings are expected between 45 cents and 53 cents per share.
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c42f1889-2c1e-4871-92df-695e10732061
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713950.0
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2023-12-11 00:00:00 UTC
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US STOCKS-Wall St rises on Fed's rate-cut signal; Apple scales record high
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-wall-st-rises-on-feds-rate-cut-signal-apple-scales-record-high
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By Shristi Achar A and Johann M Cherian
Dec 14 (Reuters) - Wall Street's main indexes rose on Thursday, with tech giant Apple notching up a record high, a day after the Federal Reserve hinted an end to its aggressive rate-hike campaign and signaled that borrowing costs would be lower next year.
The Fed left interest rates unchanged on Wednesday, as expected, with Chair Jerome Powell saying the historic tightening of monetary policy was likely over, as inflation falls faster than expected, and discussions on cuts in borrowing costs were coming "into view".
The Fed has raised its policy rate by a market-punishing 525 basis points since March 2022 in an effort to curb decades-high inflation. On Wednesday, 17 of 19 Fed officials projected the policy rate would be lower by end-2024.
The dovish pivot in the central bank's statement triggered a rally in equities, with the Dow Jones Industrial Average Index .DJI clocking fresh intra-day record highs on Thursday.
"The fact that we're not at a point where rates are being lowered because of some economic weakness, (but) rather the Fed re-calibrating its policy - markets seem to like that message," said George Mateyo, chief investment officer at Key Private Bank.
Money markets now see an 83.7% chance of at least a 25-basis-point rate cut in March 2024, up from about 50% before the policy decision, while almost fully pricing in another cut in May, according to CME's FedWatch tool.
Yield on the benchmark 10-year Treasury note US10YT=RR slipped further, to 3.9152%, while the dollar =USD tumbled to fresh four-month lows. US/USD/
Meanwhile, Apple's shares AAPL.Orose to anintra-day record high of $199.62, surpassing their July peak, and were last up 0.2%.
Seven of the S&P 500's 11 sectors advanced, led by a 2.4% rise in real estate stocks .SPLRCR, while the small-caps Russell 2000 index .RUT surged 2.5% to hit its strongest level since early February.
At 11:26 a.m. ET, the Dow Jones Industrial Average .DJI was up 68.34 points, or 0.18%, at 37,158.58, the S&P 500 .SPX was up 10.97 points, or 0.23%, at 4,718.06, and the Nasdaq Composite .IXIC was up 18.05 points, or 0.12%, at 14,752.02.
AdobeADBE.O shed 5.5% after the Photoshop maker forecast annual and quarterly revenue below estimates.
ModernaMRNA.Ojumped 11.7% after an experimental messenger RNA cancer vaccine it co-developed with Merck MRK.N cut the chance of recurrence or death from melanoma by half after three years, when paired with Merck's Keytruda drug.
Occidental PetroleumOXY.N added 3.4% after Warren Buffett's Berkshire Hathaway BRKa.N acquired nearly 10.5 million shares of the oil giant for about $588.7 million.
Foot Locker FL.N rose 7.9% after Piper Sandler upgraded the sportswear retailer to "overweight" from "neutral".
Advancing issues outnumbered decliners by a 5.21-to-1 ratio on the NYSE and by a 2.80-to-1 ratio on the Nasdaq.
The S&P index recorded 87 new 52-week highs and no new lows, while the Nasdaq recorded 235 new highs and 40 new lows.
Fed rate cut expectations https://tmsnrt.rs/41oElWr
(Reporting by Shristi Achar A and Johann M Cherian in Bengaluru; Editing by Pooja Desai)
((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar;))
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 Shristi Achar A and Johann M Cherian Dec 14 (Reuters) - Wall Street's main indexes rose on Thursday, with tech giant Apple notching up a record high, a day after the Federal Reserve hinted an end to its aggressive rate-hike campaign and signaled that borrowing costs would be lower next year. The dovish pivot in the central bank's statement triggered a rally in equities, with the Dow Jones Industrial Average Index .DJI clocking fresh intra-day record highs on Thursday. "The fact that we're not at a point where rates are being lowered because of some economic weakness, (but) rather the Fed re-calibrating its policy - markets seem to like that message," said George Mateyo, chief investment officer at Key Private Bank.
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By Shristi Achar A and Johann M Cherian Dec 14 (Reuters) - Wall Street's main indexes rose on Thursday, with tech giant Apple notching up a record high, a day after the Federal Reserve hinted an end to its aggressive rate-hike campaign and signaled that borrowing costs would be lower next year. The dovish pivot in the central bank's statement triggered a rally in equities, with the Dow Jones Industrial Average Index .DJI clocking fresh intra-day record highs on Thursday. Fed rate cut expectations https://tmsnrt.rs/41oElWr (Reporting by Shristi Achar A and Johann M Cherian in Bengaluru; Editing by Pooja Desai) ((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar;)) 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 Shristi Achar A and Johann M Cherian Dec 14 (Reuters) - Wall Street's main indexes rose on Thursday, with tech giant Apple notching up a record high, a day after the Federal Reserve hinted an end to its aggressive rate-hike campaign and signaled that borrowing costs would be lower next year. The S&P index recorded 87 new 52-week highs and no new lows, while the Nasdaq recorded 235 new highs and 40 new lows. Fed rate cut expectations https://tmsnrt.rs/41oElWr (Reporting by Shristi Achar A and Johann M Cherian in Bengaluru; Editing by Pooja Desai) ((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar;)) 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 Shristi Achar A and Johann M Cherian Dec 14 (Reuters) - Wall Street's main indexes rose on Thursday, with tech giant Apple notching up a record high, a day after the Federal Reserve hinted an end to its aggressive rate-hike campaign and signaled that borrowing costs would be lower next year. The Fed has raised its policy rate by a market-punishing 525 basis points since March 2022 in an effort to curb decades-high inflation. The S&P index recorded 87 new 52-week highs and no new lows, while the Nasdaq recorded 235 new highs and 40 new lows.
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6fadec1e-bbab-4203-ab57-eb3fca203add
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713951.0
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2023-12-11 00:00:00 UTC
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WRB or CNA: Which P&C Insurer Should You Buy for Higher Returns?
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DCOMP
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https://www.nasdaq.com/articles/wrb-or-cna%3A-which-pc-insurer-should-you-buy-for-higher-returns
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Increased exposure, streamlined operations, global presence, better pricing, solid underwriting and a strong capital position have helped the Zacks Property and Casualty Insurance industry perform well. The industry has risen 7.9% in the past six months compared with the Zacks S&P 500 composite’s rise of 5.6%.
The performance of non-life insurers is affected by catastrophes. Per Gallagher Re, total economic losses were estimated to be $290 billion for the first nine months of 2023. AM Best reported a total net underwriting loss of $24.5 billion in the first half of 2023, much higher than $6.6 billion incurred in the year-ago period, largely attributable to a rise in loss costs, above-average catastrophe activity and adverse trends in personal auto. The combined ratio was 104.5 for the same time frame per the credit rating giant, to which catastrophe losses added 960 basis points.
An increase in catastrophe activities leads to a change in pricing. Global commercial insurance prices rose for 24 straight quarters, though the magnitude has slowed down, per Marsh Global Insurance Market Index. Improved pricing drives higher premiums, ensuring smooth claims settlement.
AM Best stated that U.S. P&C industry premiums, net of reinsurance, grew 9.7% in the first six months of 2023. Per Deloitte Insights, gross premiums are estimated to increase about six-fold to $722 billion by 2030. China and North America should account for more than two-thirds of theglobal market per the report.
The insurance industry benefits from a rising rate environment. The Fed made four hikes in 2023, taking the tally to 11 since March 2022. Long-tail insurers are poised to benefit more.
The industry is continually undergoing technological developments to improve scale and efficiencies. While a solid policyholders’ surplus helps the industry absorb losses, a sturdy capital level supports inorganic expansion, investment in growth initiatives and capital payout to shareholders.
Here, we focus on two property and casualty insurers, namely W.R. Berkley Corp. WRB and CNA Financial Corporation CNA. W.R. Berkley, with a market capitalization of $18.8 billion, is one of the nation’s largest commercial lines property casualty insurance providers. CNA Financial, with a market capitalization of $11.4 billion, mainly offers commercial P&C insurance products. The companies sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Let’s now see how these P&C insurers fare in terms of some of the key metrics.
Price Performance
W.R. Berkley has gained 0.3% year to date versus CNA Financial’s decline of 0.1%. The industry has risen 12.8% in the said time frame.
Return on Equity
W.R. Berkley has a return on equity (“ROE”) of 18.5%, which exceeds CNA Financial’s ROE of 13.8% and the industry average of 7.2%.
Dividend Yield
CNA Financial’s dividend yield of 4% exceeds W.R. Berkley’s dividend yield of 0.6% and the industry average of 0.3%.
Debt-to-Equity
W.R. Berkley’s debt-to-equity ratio of 40.9 is higher than the industry average of 24 as well as CNA Financial’s reading of 38.2.
Growth Projection
The Zacks Consensus Estimate for WRB’s 2024 earnings indicates a 20.2% increase from the year-ago reported figure, while that for CNA implies a year-over-year increase of 7.4%.
The expected long-term earnings growth rate for WRB is 9%, while that for CNA is 5%.
Combined Ratio
The combined ratio represents the underwriting profitability of an insurer. WRB’s combined ratio for the first nine months of 2023 was 90.1, while the same for CNA was 94.
Net Margin
WRB’s proforma net margin for the trailing 12 months is 10.7%, higher than CNA’s reading of 9.3%.
To Conclude
Our comparative analysis shows that WRB has the edge over CNA with respect to price performance, return on equity, combined ratio, net margin and growth projection. CNA outpaces WRB in terms of dividend yield and leverage.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
W.R. Berkley Corporation (WRB) : Free Stock Analysis Report
CNA Financial Corporation (CNA) : 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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Increased exposure, streamlined operations, global presence, better pricing, solid underwriting and a strong capital position have helped the Zacks Property and Casualty Insurance industry perform well. To Conclude Our comparative analysis shows that WRB has the edge over CNA with respect to price performance, return on equity, combined ratio, net margin and growth projection. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Increased exposure, streamlined operations, global presence, better pricing, solid underwriting and a strong capital position have helped the Zacks Property and Casualty Insurance industry perform well. Dividend Yield CNA Financial’s dividend yield of 4% exceeds W.R. Berkley’s dividend yield of 0.6% and the industry average of 0.3%. Click to get this free report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report CNA Financial Corporation (CNA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Increased exposure, streamlined operations, global presence, better pricing, solid underwriting and a strong capital position have helped the Zacks Property and Casualty Insurance industry perform well. Here, we focus on two property and casualty insurers, namely W.R. Berkley Corp. WRB and CNA Financial Corporation CNA. Click to get this free report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report CNA Financial Corporation (CNA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Increased exposure, streamlined operations, global presence, better pricing, solid underwriting and a strong capital position have helped the Zacks Property and Casualty Insurance industry perform well. Here, we focus on two property and casualty insurers, namely W.R. Berkley Corp. WRB and CNA Financial Corporation CNA. WRB’s combined ratio for the first nine months of 2023 was 90.1, while the same for CNA was 94.
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c5f6b998-4b3f-4ec9-a573-f9aa0a9a7f09
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713952.0
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2023-12-11 00:00:00 UTC
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Why UPS Stock Popped on Thursday
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DCOMP
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https://www.nasdaq.com/articles/why-ups-stock-popped-on-thursday
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nan
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nan
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Just in time for Christmas -- and for the second time in a week -- analysts are raising price targets on United Parcel Services (NYSE: UPS) stock, which enjoyed a modest 2.7% bump in share price through 11 a.m. ET this morning.
Last week saw Bank of America raise its target on UPS to $164 per share. Today, investment bank Oppenheimer is going BofA four better, raising its price target to $168 per share, as The Fly just reported. What's more, whereas BofA assigns UPS stock only a "neutral" rating, Oppenheimer thinks the stock will "outperform."
Two views on UPS
UPS has apparently been making the rounds on Wall Street lately, with both investment banks citing separate "investor meetings" with the company as prompting their price target revisions.
Last week, BofA's takeaway from its meeting is that UPS is off to a "solid" start to peak shipping season this year -- but that UPS seems to be trending toward the low end of its forecasted 3% to 8% volume growth in Q4 2023. The banker responded by cutting its estimate of earnings growth at UPS by 2% in both 2023 and 2024, raising its price target but keeping its rating at neutral.
Oppenheimer is a bit more optimistic, thinking that UPS is both increasing shipping volumes and also winning back customers it lost during the period of uncertainty when UPS was negotiating with its union, and the Teamsters were threatening to strike. (This process ended in July, with a new contract being signed shortly thereafter.) The analyst added that it sees UPS making progress on optimizing "network flow" and cutting costs, which might help to stabilize the company's profit margin.
Is UPS stock a buy?
It remains to be seen how big those margin improvements will be, however, or whether they will be good enough to justify UPS's current valuation of 16 times earnings, as well as earnings trending lower.
On the plus side, 3% or 4% volume growth, plus a dividend yield of 4.1%, get UPS about halfway to justifying the stock's modest 16x P/E ratio. That being said, profit margins are wrapping up their second straight year of post-pandemic declines, yet still have a ways to fall if they're going to return to pre-pandemic levels. In 2019, for example, UPS scored a 6% net profit margin, which more than doubled to 13% in 2021, and has only fallen back to about 9% at last report, according to data from S&P Global Market Intelligence.
Falling margins mean that 2023 will probably mark a near-term nadir in UPS's profits -- as much as 36% below 2022 levels. Granted, higher revenue growth may counteract weak margins going forward. But even so, most analysts don't see UPS returning to 2022 levels of profitability until 2028 at the earliest.
Long story short: Valuing UPS stock on a level of earnings that it's unlikely to be "earning" again for several years is a strategy likely to turn the stock into a value trap for investors. UPS stock looks cheap for a reason right now and may not be safe to buy.
Should you invest $1,000 in United Parcel Service right now?
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See the 10 stocks
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Bank of America is an advertising partner of The Ascent, a Motley Fool company. Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America. The Motley Fool recommends United Parcel Service. 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 banker responded by cutting its estimate of earnings growth at UPS by 2% in both 2023 and 2024, raising its price target but keeping its rating at neutral. The analyst added that it sees UPS making progress on optimizing "network flow" and cutting costs, which might help to stabilize the company's profit margin. In 2019, for example, UPS scored a 6% net profit margin, which more than doubled to 13% in 2021, and has only fallen back to about 9% at last report, according to data from S&P Global Market Intelligence.
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Just in time for Christmas -- and for the second time in a week -- analysts are raising price targets on United Parcel Services (NYSE: UPS) stock, which enjoyed a modest 2.7% bump in share price through 11 a.m. Before you buy stock in United Parcel Service, 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 United Parcel Service wasn't one of them. The Motley Fool recommends United Parcel Service.
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Just in time for Christmas -- and for the second time in a week -- analysts are raising price targets on United Parcel Services (NYSE: UPS) stock, which enjoyed a modest 2.7% bump in share price through 11 a.m. Long story short: Valuing UPS stock on a level of earnings that it's unlikely to be "earning" again for several years is a strategy likely to turn the stock into a value trap for investors. Before you buy stock in United Parcel Service, 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 United Parcel Service wasn't one of them.
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Two views on UPS UPS has apparently been making the rounds on Wall Street lately, with both investment banks citing separate "investor meetings" with the company as prompting their price target revisions. Before you buy stock in United Parcel Service, 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 United Parcel Service wasn't one of them. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.
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6f679552-0e54-49f1-bf0d-8be8d8c1158d
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713953.0
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2023-12-11 00:00:00 UTC
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Notable ETF Inflow Detected - IWF, NOW, AMAT, LMT
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DCOMP
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https://www.nasdaq.com/articles/notable-etf-inflow-detected-iwf-now-amat-lmt
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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 Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $255.2 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 267,050,000 to 267,900,000). Among the largest underlying components of IWF, in trading today ServiceNow Inc (Symbol: NOW) is off about 3.2%, Applied Materials, Inc. (Symbol: AMAT) is up about 1.9%, and Lockheed Martin Corp (Symbol: LMT) is lower by about 1.6%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average:
Looking at the chart above, IWF's low point in its 52 week range is $209.27 per share, with $301.615 as the 52 week high point — that compares with a last trade of $299.70. 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:
S&P 500 Components Hedge Funds Are Buying
BBCP YTD Return
Top Ten Hedge Funds Holding IBTG
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: S&P 500 Components Hedge Funds Are Buying BBCP YTD Return Top Ten Hedge Funds Holding IBTG 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 IWF, in trading today ServiceNow Inc (Symbol: NOW) is off about 3.2%, Applied Materials, Inc. (Symbol: AMAT) is up about 1.9%, and Lockheed Martin Corp (Symbol: LMT) is lower by about 1.6%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $209.27 per share, with $301.615 as the 52 week high point — that compares with a last trade of $299.70. 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 iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $255.2 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 267,050,000 to 267,900,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $209.27 per share, with $301.615 as the 52 week high point — that compares with a last trade of $299.70. 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 Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $255.2 million dollar inflow -- that's a 0.3% increase week over week in outstanding units (from 267,050,000 to 267,900,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $209.27 per share, with $301.615 as the 52 week high point — that compares with a last trade of $299.70. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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5376e115-70b2-43e3-b0d1-7b07c13a687d
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713954.0
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2023-12-11 00:00:00 UTC
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PICK, NUE, STLD, CLF: ETF Outflow Alert
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DCOMP
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https://www.nasdaq.com/articles/pick-nue-stld-clf%3A-etf-outflow-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 iShares MSCI Global Metals & Mining Producers ETF (Symbol: PICK) where we have detected an approximate $67.9 million dollar outflow -- that's a 5.2% decrease week over week (from 32,000,000 to 30,350,000). Among the largest underlying components of PICK, in trading today Nucor Corp. (Symbol: NUE) is up about 0.9%, Steel Dynamics Inc. (Symbol: STLD) is up about 2.8%, and Cleveland-Cliffs Inc (Symbol: CLF) is up by about 4.7%. For a complete list of holdings, visit the PICK Holdings page » The chart below shows the one year price performance of PICK, versus its 200 day moving average:
Looking at the chart above, PICK's low point in its 52 week range is $36.2055 per share, with $47.70 as the 52 week high point — that compares with a last trade of $42.06. 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 experienced notable outflows »
Also see:
Funds Holding GIGA
HHT YTD Return
Top 10 Hedge Funds Holding Republic 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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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: Funds Holding GIGA HHT YTD Return Top 10 Hedge Funds Holding Republic 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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For a complete list of holdings, visit the PICK Holdings page » The chart below shows the one year price performance of PICK, versus its 200 day moving average: Looking at the chart above, PICK's low point in its 52 week range is $36.2055 per share, with $47.70 as the 52 week high point — that compares with a last trade of $42.06. 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: Funds Holding GIGA HHT YTD Return Top 10 Hedge Funds Holding Republic 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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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI Global Metals & Mining Producers ETF (Symbol: PICK) where we have detected an approximate $67.9 million dollar outflow -- that's a 5.2% decrease week over week (from 32,000,000 to 30,350,000). For a complete list of holdings, visit the PICK Holdings page » The chart below shows the one year price performance of PICK, versus its 200 day moving average: Looking at the chart above, PICK's low point in its 52 week range is $36.2055 per share, with $47.70 as the 52 week high point — that compares with a last trade of $42.06. 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 MSCI Global Metals & Mining Producers ETF (Symbol: PICK) where we have detected an approximate $67.9 million dollar outflow -- that's a 5.2% decrease week over week (from 32,000,000 to 30,350,000). Among the largest underlying components of PICK, in trading today Nucor Corp. (Symbol: NUE) is up about 0.9%, Steel Dynamics Inc. (Symbol: STLD) is up about 2.8%, and Cleveland-Cliffs Inc (Symbol: CLF) is up by about 4.7%. 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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e66ec7f2-d049-4b37-8115-da0fc0f56f3a
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713955.0
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2023-12-11 00:00:00 UTC
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Lithium Americas (LAAC) Upgraded to Buy: Here's What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/lithium-americas-laac-upgraded-to-buy%3A-heres-what-you-should-know
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nan
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nan
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Lithium Americas (LAAC) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
As such, the Zacks rating upgrade for Lithium Americas is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Lithium Americas, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Lithium Americas
For the fiscal year ending December 2023, this metals and mining company is expected to earn $0.20 per share, which is a change of 123.5% from the year-ago reported number.
Analysts have been steadily raising their estimates for Lithium Americas. Over the past three months, the Zacks Consensus Estimate for the company has increased 42.9%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Lithium Americas to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Lithium Americas (Argentina) Corp. (LAAC) : 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 these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of Lithium Americas to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Lithium Americas to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Earnings Estimate Revisions for Lithium Americas For the fiscal year ending December 2023, this metals and mining company is expected to earn $0.20 per share, which is a change of 123.5% from the year-ago reported number. You can learn more about the Zacks Rank here >>> The upgrade of Lithium Americas to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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35bc1e19-33fa-4061-8f41-acd2b657f0c1
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713956.0
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2023-12-11 00:00:00 UTC
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Yara (YARIY) Buys Agribios Organic-Based Fertilizer Business
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DCOMP
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https://www.nasdaq.com/articles/yara-yariy-buys-agribios-organic-based-fertilizer-business
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nan
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nan
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Yara International ASA YARIY completed its acquisition of the organic-based fertilizer business of Agribios Italiana, marking the second strategic buyout to bolster its organic strategy in Europe. This acquisition underscores Yara's dedication to expanding its offerings in support of regenerative agriculture and soil health improvement, complementing its existing mineral fertilizers.
The integration of Agribios' expertise in high-quality organic based fertilizers in Italy with Yara's extensive scale and reach across Europe will enable it to cater to the diverse needs of European farmers, irrespective of their farming methods. The move aligns with Yara's commitment to contribute to the European Union's ambition of increasing farmland under organic farming practices.
Yara expressed enthusiasm about the acquisition, emphasizing the importance of soil health for resilient crop production and sustainable farming. The aim is to enhance soil health, support regenerative agriculture and contribute to a nature-positive food future by expanding the crop nutrition portfolio in Italy.
The acquisition enables Yara to maximize synergies between organic-based and mineral fertilizers, which is crucial for regenerative agriculture. Combining organic and mineral nutrients enhances soil health, improves resource use efficiency and increases crops' resilience to climate change, aligning with Yara's commitment to balanced crop nutrition and sustainable practices.
Yara International ASA Price and Consensus
Yara International ASA price-consensus-chart | Yara International ASA Quote
Agribios Italiana stated the significance of this collaboration, expressing excitement about bringing its expertise to the European stage. Agribios, with a broad portfolio of organic-based fertilizers, contributes to the circular economy and reduces environmental impact. It also caters to organic and conventional farming.
Agribios, with a market share of around 10% in Italy's organic-based fertilizer market, will provide Yara with a strong foothold in Italy. The country is the second-largest market for such fertilizers in Europe. Yara aims to increase sales in the organic-based fertilizer market in Italy and neighboring countries by approximately 30% within the next three years.
This acquisition positions Yara to leverage its established sales and distribution platform in Europe to offer Agribios' products to customers outside Italy. With the organic fertilizer market in Europe expected to grow significantly, Yara continues its commitment to sustainable agriculture, building on its previous acquisition of Ecolan in 2021.
Yara’s shares have lost 21.9% in the past year against a 30.6% fall of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Yara currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc HWKN and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AXTA’s current-year earnings is pegged at $1.58, indicating year-over-year growth of 6.8%. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 6.7%. The company’s shares have increased 23.8% in the past year.
The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 1.8% in the past 60 days. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 27.5% on average. The stock has rallied around 61.4% in a year.
The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents, indicating a year-over-year surge of 89.3%. AGI beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have surged 33% in the past year.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Yara International ASA (YARIY) : Free Stock Analysis Report
Alamos Gold Inc. (AGI) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
Hawkins, Inc. (HWKN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Yara International ASA YARIY completed its acquisition of the organic-based fertilizer business of Agribios Italiana, marking the second strategic buyout to bolster its organic strategy in Europe. The integration of Agribios' expertise in high-quality organic based fertilizers in Italy with Yara's extensive scale and reach across Europe will enable it to cater to the diverse needs of European farmers, irrespective of their farming methods. With the organic fertilizer market in Europe expected to grow significantly, Yara continues its commitment to sustainable agriculture, building on its previous acquisition of Ecolan in 2021.
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Yara International ASA Price and Consensus Yara International ASA price-consensus-chart | Yara International ASA Quote Agribios Italiana stated the significance of this collaboration, expressing excitement about bringing its expertise to the European stage. Some better-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. AXTA, sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc HWKN and Alamos Gold Inc. AGI, each carrying a Zacks Rank #2 (Buy). Click to get this free report Yara International ASA (YARIY) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Yara International ASA Price and Consensus Yara International ASA price-consensus-chart | Yara International ASA Quote Agribios Italiana stated the significance of this collaboration, expressing excitement about bringing its expertise to the European stage. Image Source: Zacks Investment Research Zacks Rank & Key Picks Yara currently carries a Zacks Rank #4 (Sell). Click to get this free report Yara International ASA (YARIY) : Free Stock Analysis Report Alamos Gold Inc. (AGI) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Hawkins, Inc. (HWKN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Yara International ASA YARIY completed its acquisition of the organic-based fertilizer business of Agribios Italiana, marking the second strategic buyout to bolster its organic strategy in Europe. Agribios, with a market share of around 10% in Italy's organic-based fertilizer market, will provide Yara with a strong foothold in Italy. With the organic fertilizer market in Europe expected to grow significantly, Yara continues its commitment to sustainable agriculture, building on its previous acquisition of Ecolan in 2021.
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a18e9ebe-4788-4b5d-b561-359343cc5abd
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713957.0
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2023-12-11 00:00:00 UTC
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Tandem Diabetes (TNDM) Avails Tandem Source in the United States
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DCOMP
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https://www.nasdaq.com/articles/tandem-diabetes-tndm-avails-tandem-source-in-the-united-states
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nan
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nan
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Tandem Diabetes Care, Inc. TNDM recently announced the full U.S. launch of its diabetes management platform, Tandem Source. The global data management application targets clinicians and expands the capabilities of the Tandem Diabetes’ t:connect data management application available for customers in the United States.
The innovation enhances clinical data visualization and provides added interface customization for health care providers (HCPs) to manage their patient's care better, whether remotely or in person. The platform is available for all Tandem pump users and their HCPs in the United States, with international availability expected in 2024.
News in Detail
Tandem Source is designed to integrate the features of Tandem’s legacy t:connect, t:connect HCP and t:connect Portal offerings with new comprehensive data reporting in one central, scalable platform. The company began a scaled global launch of Tandem Source earlier in the second quarter of 2023. Feedback from the early adopters of the application in the United States has been overwhelmingly positive.
Image Source: Zacks Investment Research
The platform provides access to important therapy data and introduces convenient ways for pump users to reorder supplies and update their pump software. For HCPs, Tandem Source provides the tools necessary to seamlessly view critical patient data, identify trends and help their patients better manage their diabetes. Both HCPs and pump users also have access to three new Tandem Source reports in the platform.
Tandem Source features a new web-based pump uploader that offers faster data transfers to the cloud with no computer software to install or update. It automatically transfers data from users’ pumps using the t:connect mobile app, keeps online data current and removes the need for manual pump uploads. Tandem Source offers three easy-to-use reports that consolidate all the information required for HCPs to make impactful clinical recommendations.
Industry Prospects
Per a Research report, the AID system market was valued at $749.2 million in 2022 and is expected to witness a CAGR of 9.8% by 2030.
Other Notable Highlights
It has been a transitional time for Tandem Diabetes, preparing for the next phase of growth through an innovative portfolio that reduces the burden of diabetes management. The company is executing multiple near-term product launches while implementing scalable systems and processes to support its global operations and leverage the infrastructure.
Last week, TNDM introduced the highly-anticipated t:slim X2 insulin pump software with Dexcom G7 Continuous Glucose Monitoring (CGM) integration in the United States. The company’s number-one rated automated insulin delivery (AID) system with Control-IQ technology is the only AID option in the world today to use Dexcom’s most advanced CGM technology.
In July 2023, Tandem Mobi, distinguished as the world’s smallest durable AID system, received FDA clearance. Mobi sets a new paradigm with the features of multiple wearability options, detachable infusion sets and the discretion of its mobile app operation. A limited release of Tandem Mobi is expected to start in late 2023, with full commercial availability planned for early 2024.
Price Performance
In the past six months, TNDM’s shares have declined 6.6% compared with the industry’s fall of 9.5%.
Zacks Rank and Key Picks
Tandem Diabetes Care currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’stock has increased 13.9% in the past year. Earnings estimates for Haemoneticshave increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.80 to $1.91 in the past 30 days. Shares of the company have dropped 33.6% in the past year compared with the industry’s decline of 6%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.5%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.43 to $1.44 in the past 30 days. Shares of the company have increased 5.3% in the past year against the industry’s decline of 2.5%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Haemonetics Corporation (HAE) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
Tandem Diabetes Care, Inc. (TNDM) : 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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Tandem Source features a new web-based pump uploader that offers faster data transfers to the cloud with no computer software to install or update. The company is executing multiple near-term product launches while implementing scalable systems and processes to support its global operations and leverage the infrastructure. Last week, TNDM introduced the highly-anticipated t:slim X2 insulin pump software with Dexcom G7 Continuous Glucose Monitoring (CGM) integration in the United States.
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Tandem Diabetes Care, Inc. TNDM recently announced the full U.S. launch of its diabetes management platform, Tandem Source. The global data management application targets clinicians and expands the capabilities of the Tandem Diabetes’ t:connect data management application available for customers in the United States. Click to get this free report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report Tandem Diabetes Care, Inc. (TNDM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Tandem Diabetes Care, Inc. TNDM recently announced the full U.S. launch of its diabetes management platform, Tandem Source. News in Detail Tandem Source is designed to integrate the features of Tandem’s legacy t:connect, t:connect HCP and t:connect Portal offerings with new comprehensive data reporting in one central, scalable platform. Click to get this free report Haemonetics Corporation (HAE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report Tandem Diabetes Care, Inc. (TNDM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Tandem Diabetes Care, Inc. TNDM recently announced the full U.S. launch of its diabetes management platform, Tandem Source. The global data management application targets clinicians and expands the capabilities of the Tandem Diabetes’ t:connect data management application available for customers in the United States. Estimates for DexCom’s 2023 earnings per share have increased from $1.43 to $1.44 in the past 30 days.
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647c04fc-07af-42cf-8d85-75abae573e50
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713958.0
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2023-12-11 00:00:00 UTC
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CoStar (CSGP) Completes OnTheMarket Deal, Expands in the U.K.
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DCOMP
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https://www.nasdaq.com/articles/costar-csgp-completes-onthemarket-deal-expands-in-the-u.k.
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nan
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nan
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CoStar Group CSGP completed the previously announced acquisition of OnTheMarket plc, one of the U.K.’s three most visited residential property portals.
The acquisition expands CoStar’s footprint in the United Kingdom. OnTheMarket has more than 13,000 agent advertisers and attracts high-intent leads at a fraction of the cost of other U.K. portals.
CoStar benefits from an expanding global addressable market for real estate information and marketplaces, which is estimated to be greater than $100 billion. The company is expanding its international footprint. It already has operations in 15 countries globally, including the United Kingdom, Spain, Germany and France.
CoStar is also gaining market share in North America. It estimates the total North American addressable market to be roughly $40 billion. Market share for CoStar, Apartments.com, LoopNet, Homes.com and TenX is estimated to be $4 billion, $9 billion, $5 billion, greater than $15 billion and $6 billion, respectively.
CoStar Group, Inc. Price and Consensus
CoStar Group, Inc. price-consensus-chart | CoStar Group, Inc. Quote
CoStar’s Prospects Ride on Increasing Traffic
CoStar shares have returned 5.2% in the past three months, outperforming the Zacks Computer & Technology sector’s growth of 5%.
CoStar is benefiting from increasing traffic at its sites, including Apartments.com (45 million average monthly unique), LoopNet (14 million unique visitors worldwide), Homes.com (more than 100 million monthly unique visitors) and a strong subscriber base at CoStar (more than 180K).
Thanks to Apartments.com’s growing traffic, the company expects Multifamily's year-over-year revenue growth rate to accelerate for 2023. Moreover, Apartments.com is currently the largest business by revenue and is on track to reach a billion dollars in revenue run rate in the first quarter of 2024.
Guidance Positive
CoStar expects 2023 revenues between $2.445 billion and $2.450 billion, indicating year-over-year growth of approximately 12% at the midpoint. The Zacks Consensus Estimate for revenues is pegged at $2.45 billion, indicating 12.29% growth from 2022.
Commercial information and marketplace business is expected to deliver revenue growth of 14% for 2023.
Moreover, fourth-quarter 2023 revenues are expected to be between $630 million and $635 million, indicating growth of approximately 10% at the mid-point. The consensus mark for revenues is pegged at $633.06 million, suggesting 10.41% year-over-year growth.
Commercial information and marketplace business is expected to deliver 12% year-over-year revenue growth in the fourth quarter of 2023.
Earnings are expected between $1.21 and $1.22 per share for 2023. Moreover, earnings are projected to be between 31 cents and 32 cents per share for the fourth quarter.
The Zacks Consensus Estimate for 2023 earnings is pegged at $1.21 per share, unchanged over the past 30 days. The consensus mark for fourth-quarter 2023 is pegged at 32 cents per share, unchanged over the same timeframe.
Zacks Rank & Stocks to Consider
CoStar currently has a Zacks Rank #4 (Sell).
Intel INTC, Badger Meter BMI and Ceridian HCM CDAY are some better-ranked stocks in the broader sector, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intel shares have gained 14% in the past three months. The long-term earnings growth rate is pegged at 14.18%.
Badger Meter shares have declined 4.8% in the past three months. The long-term earnings growth rate is pegged at 20.39%.
Ceridian shares have lost 9.3% over the same timeframe. The long-term earnings growth rate is pegged at 44.15%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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
Intel Corporation (INTC) : Free Stock Analysis Report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
CoStar Group, Inc. (CSGP) : Free Stock Analysis Report
Ceridian HCM (CDAY) : 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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CoStar benefits from an expanding global addressable market for real estate information and marketplaces, which is estimated to be greater than $100 billion. Intel INTC, Badger Meter BMI and Ceridian HCM CDAY are some better-ranked stocks in the broader sector, each currently sporting a Zacks Rank #1 (Strong Buy). Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
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CoStar is benefiting from increasing traffic at its sites, including Apartments.com (45 million average monthly unique), LoopNet (14 million unique visitors worldwide), Homes.com (more than 100 million monthly unique visitors) and a strong subscriber base at CoStar (more than 180K). Commercial information and marketplace business is expected to deliver 12% year-over-year revenue growth in the fourth quarter of 2023. Click to get this free report Intel Corporation (INTC) : Free Stock Analysis Report Badger Meter, Inc. (BMI) : Free Stock Analysis Report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report Ceridian HCM (CDAY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Market share for CoStar, Apartments.com, LoopNet, Homes.com and TenX is estimated to be $4 billion, $9 billion, $5 billion, greater than $15 billion and $6 billion, respectively. CoStar Group, Inc. Price and Consensus CoStar Group, Inc. price-consensus-chart | CoStar Group, Inc. Quote CoStar’s Prospects Ride on Increasing Traffic CoStar shares have returned 5.2% in the past three months, outperforming the Zacks Computer & Technology sector’s growth of 5%. Click to get this free report Intel Corporation (INTC) : Free Stock Analysis Report Badger Meter, Inc. (BMI) : Free Stock Analysis Report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report Ceridian HCM (CDAY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for revenues is pegged at $2.45 billion, indicating 12.29% growth from 2022. Earnings are expected between $1.21 and $1.22 per share for 2023. Download FREE: How To Profit From Trillions On Spending For Infrastructure >> Want the latest recommendations from Zacks Investment Research?
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a465798a-c0a7-43ef-b41a-a64c2c7237e7
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713959.0
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2023-12-11 00:00:00 UTC
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Caesarstone (CSTE) to Close Richmond Hill Manufacturing Facility
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DCOMP
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https://www.nasdaq.com/articles/caesarstone-cste-to-close-richmond-hill-manufacturing-facility
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Caesarstone Ltd. CSTE announced the closure of its Richmond Hill manufacturing facility, effective from mid-January 2024, consistent with its restructuring plan initiated in mid-2023. This is likely to contribute $20 million in annual savings by optimizing its manufacturing footprint.
CSTE expects to incur restructuring expenses and a one-time non-cash impairment charge of $45-$55 million in fourth-quarter 2023. Total cash costs related to operations through 2024 are projected to be $3-$5 million.
Additionally, the company noted that the Australian federal, state and territory governments banned the use, supply and manufacture of engineered stone slabs containing crystalline silica (including its quartz-based products) in the country starting Jul 1, 2024. The decision is expected to negatively impact sales in the near term. The Australian market accounted for approximately 18% of total revenues in the first nine months of 2023.
On the contrary, CSTE disagrees with the decision and has appealed its position to the Australian government. It believes that its installed products were never an issue and that the products are safe to fabricate under safe working practices. The company believes that the focus should be aimed at improving occupational health and safety.
The stock plunged 9.74% in the day trading session on Dec 13 post the news release.
Yos Shiran, chief executive officer of Caesarstone, stated, “The Caesarstone brand is well known in Australia and its products have earned tremendous success over the years. We are already taking steps to supply our Australian market with alternative products while maintaining our strong market presence.”
In the third quarter, total revenues fell 21.2% on a reported basis and 20.3% on a constant currency basis due to lower volumes. Volumes were primarily impacted by global economic headwinds, particularly in renovation and remodeling channels, across the regions and the competitive landscape, resulting in lower demand. Australia unit revenues declined 12.4% year over year and 8.4% on a constant currency basis.
The adjusted gross margin of 19.8% was also down from the 23.1% reported in the prior-year quarter on lower revenues and increased manufacturing unit costs due to lower fixed cost absorption related to lower capacity utilization. Adjusted EBITDA was $1.9 million in the same period compared with the $13.4 million reported in the previous year.
Image Source: Zacks Investment Research
Year to date, shares of the company have declined 33.5% against the Zacks Building Products - Miscellaneous industry’s 50.2% growth.
Zacks Rank & Key Picks
CSTE currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks that warrant a look in the same industry are Frontdoor, Inc. FTDR, Knife River Corporation KNF and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Frontdoor: Based in Memphis, TN, the company provides home service plans in the United States. The company is benefiting from impressive customer retention rates. Thanks to the robust awareness of the Frontdoor brand, it has been shifting its attention toward capitalizing on customer demand. This strategic move allows FTDR to redirect its marketing investments toward expanding its Direct-to-Consumer channel under the American Home Shield brand. Looking ahead, the company is committed to establishing a solid foundation by investing in its brand, technology infrastructure and enhancing productivity throughout the organization.
Frontdoor has seen an upward estimate revision of 23% and 23.8% for 2023 and 2024 earnings over the past 60 days to $2.03 and $2.34 per share, respectively. The estimated figure indicates 59.8% and 15.1% year-over-year growth for 2023 and 2024, respectively. The company’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 163.7%.
Knife River: Headquartered in Bismarck, ND, this firm offers construction materials and contracting services throughout the United States, specializing in aggregates-based solutions. Knife River has effectively implemented its EDGE plan to enhance Adjusted EBITDA margins and achieve strategic objectives. A crucial component of this strategy involves optimizing pricing to fully capture the value of core products, including aggregates, ready-mix concrete, asphalt and contracting services. The company has adopted a more judicious approach in selecting higher-margin projects within its contracting services division. Despite challenges, Knife River maintains a positive outlook on the long-term market strength, anticipating favorable impacts from local, state and federal funding.
Knife River has seen an upward estimate revision of 30.2% for 2023 earnings over the past 60 days to $3.15 per share. The company’s earnings surpassed the Zacks Consensus Estimate in the last reported quarter by 41%.
James Hardie Industries: The company pioneered the development of fiber cement technology in the 1980s. JHX has many product applications, including external siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes.
JHX has seen an upward estimate revision of 0.6% and 1.2% for fiscal 2024 and 2025 earnings over the past seven days to $1.58 per share and $1.66 per share, respectively. The estimated figure indicates 16.2% and 5.1% year-over-year growth for fiscal 2024 and 2025, respectively.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
James Hardie Industries PLC. (JHX) : Free Stock Analysis Report
Caesarstone Ltd. (CSTE) : Free Stock Analysis Report
Frontdoor Inc. (FTDR) : Free Stock Analysis Report
Knife River Corporation (KNF) : 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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Additionally, the company noted that the Australian federal, state and territory governments banned the use, supply and manufacture of engineered stone slabs containing crystalline silica (including its quartz-based products) in the country starting Jul 1, 2024. A crucial component of this strategy involves optimizing pricing to fully capture the value of core products, including aggregates, ready-mix concrete, asphalt and contracting services. JHX has many product applications, including external siding, trim and fascia, ceiling lining and flooring, partitioning, decorative columns, fencing and drainage pipes.
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The adjusted gross margin of 19.8% was also down from the 23.1% reported in the prior-year quarter on lower revenues and increased manufacturing unit costs due to lower fixed cost absorption related to lower capacity utilization. Some better-ranked stocks that warrant a look in the same industry are Frontdoor, Inc. FTDR, Knife River Corporation KNF and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy) at present. (JHX) : Free Stock Analysis Report Caesarstone Ltd. (CSTE) : Free Stock Analysis Report Frontdoor Inc. (FTDR) : Free Stock Analysis Report Knife River Corporation (KNF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Year to date, shares of the company have declined 33.5% against the Zacks Building Products - Miscellaneous industry’s 50.2% growth. Some better-ranked stocks that warrant a look in the same industry are Frontdoor, Inc. FTDR, Knife River Corporation KNF and James Hardie Industries plc JHX, each sporting a Zacks Rank #1 (Strong Buy) at present. (JHX) : Free Stock Analysis Report Caesarstone Ltd. (CSTE) : Free Stock Analysis Report Frontdoor Inc. (FTDR) : Free Stock Analysis Report Knife River Corporation (KNF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Adjusted EBITDA was $1.9 million in the same period compared with the $13.4 million reported in the previous year. Image Source: Zacks Investment Research Year to date, shares of the company have declined 33.5% against the Zacks Building Products - Miscellaneous industry’s 50.2% growth. Millions of lithium batteries are being made & demand is expected to increase 889%.
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c66f6041-9248-4f1e-912c-afa8bf783d73
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713960.0
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2023-12-11 00:00:00 UTC
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Here's Why Investors Should Retain Azul (AZUL) Stock Now
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DCOMP
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https://www.nasdaq.com/articles/heres-why-investors-should-retain-azul-azul-stock-now
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Azul S.A. AZUL is benefiting from a steady recovery in air travel demand, especially on the international front.
Factors Favoring AZUL
Azul is seeing a steady rebound in air travel demand, particularly in its domestic markets. Mainly owing to this improvement in international traffic, consolidated traffic, measured in revenue passenger kilometers (RPKs), rose 12% (up 4.2% in domestic and 45.8% on the international front) year over year in third-quarter 2023. Consolidated available seat kilometers (ASK), measuring an airline's passenger-carrying capacity, increased 11.5% from the year-ago quarter’s levels, with a 4.2% rise in domestic capacity and a 46.2% increase in international capacity. With more people taking to the skies, Azul’s passenger revenues, contributing 93.1% to the top line, up 12.4% year over year (on higher total capacity).
Declining operating expenses should boost AZUL's bottom line. Total operating expenses fell marginally from its year-ago levels in third-quarter 2023. The downside was caused by a 28.1% reduction in fuel prices, cost-reduction initiatives and productivity gains. Cost per available seat kilometer (CASK) also fell 10.7% year over year in the third quarter.
Key Risks
AZUL's liquidity position is a concern. Cash and cash equivalent of $136 million at the end of 2022 was lower than the $1,454 million of long-term debt. This implies that the company does not have enough cash to meet the debt burden.
Zacks Rank
AZUL currently carries Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
AZUL (AZUL) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Key Picks Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW. The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Mainly owing to this improvement in international traffic, consolidated traffic, measured in revenue passenger kilometers (RPKs), rose 12% (up 4.2% in domestic and 45.8% on the international front) year over year in third-quarter 2023. Zacks Rank AZUL currently carries Zacks Rank #3 (Hold). Click to get this free report SkyWest, Inc. (SKYW) : Free Stock Analysis Report AZUL (AZUL) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Mainly owing to this improvement in international traffic, consolidated traffic, measured in revenue passenger kilometers (RPKs), rose 12% (up 4.2% in domestic and 45.8% on the international front) year over year in third-quarter 2023. Zacks Rank AZUL currently carries Zacks Rank #3 (Hold). Click to get this free report SkyWest, Inc. (SKYW) : Free Stock Analysis Report AZUL (AZUL) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Mainly owing to this improvement in international traffic, consolidated traffic, measured in revenue passenger kilometers (RPKs), rose 12% (up 4.2% in domestic and 45.8% on the international front) year over year in third-quarter 2023. Key Picks Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW. Millions of lithium batteries are being made & demand is expected to increase 889%.
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9368abc7-5183-4565-b91a-9db028bbb84f
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713961.0
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2023-12-11 00:00:00 UTC
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REITs Rejoice as the Fed Indicates Three Rate Cuts in 2024
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DCOMP
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https://www.nasdaq.com/articles/reits-rejoice-as-the-fed-indicates-three-rate-cuts-in-2024
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nan
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After having a lot to worry about rate hikes in the past several months, real estate investment trust (REIT) investors now have enough reasons to rejoice. The Fed officials have held the benchmark rate steady, a move that was widely anticipated. But what was more encouraging was the signal from the Fed that it is done with rate hikes this time around and forecasting three rate cuts for next year. The dot plot further indicates another four rate cuts in 2025, lowering the rate by a full percentage point.
These rate-cut projections bring REITs to the forefront. The FTSE NAREIT U.S. Real Estate Index for all equity REITs gained 3.71% yesterday. There were increases across all asset types, with office, industrial and retail categories registering decent gains.
Notably, almost all REIT stocks, big or small and from different asset categories, including Prologis PLD, Alexandria Real Estate Equities Inc. ARE, The Macerich Company MAC and Innovative Industrial Properties, Inc. IIPR, moved higher.
REITs’ dependence on debt for business keeps investors optimistic about their performances in a rate-cut environment as the companies benefit from lower borrowing costs. Moreover, low interest rates contribute to higher valuations. Also, their dividend yield grabs investors’ attention more than yields on fixed-income and money market accounts in times like these.
Specifically, the Fed officials’ median projections for the federal funds rate by the end of December 2024 is 4.6%, down from the 5.1% stated earlier, suggesting the comfort of the Fed officials with the easing of the inflation rate and the economy holding on well. With a full percentage point decline expected in 2025 and another spate of reductions in 2026, the median projection for the federal funds rate by the end of December 2026 is pegged at 2.9%, which is close to the long-run outlook.
The revised outlook also indicates reduced inflation for the current and upcoming years, with the Fed's preferred price index increasing 2.4% in 2024, excluding food and energy.
Moreover, the projections for the U.S. GDP growth rate have been upgraded to 2.6% from the 2.1% stated in September. While the GDP is expected to grow 1.4% in 2024, close to the 1.5% mentioned earlier, the projections for unemployment have been unchanged.
There are pockets of strength amid this scenario, with the REIT industry offering a real-estate structure for several economic activities — real or virtual. Investors should keep a close watch on the REIT stocks to grab solid opportunities in this special hybrid asset class.
Presently, Innovative Industrial Properties carries a Zacks Rank #2 (Buy), while Prologis, Alexandria Real Estate and Macerich carry a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Prologis, Inc. (PLD) : Free Stock Analysis Report
Macerich Company (The) (MAC) : Free Stock Analysis Report
Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report
Innovative Industrial Properties, Inc. (IIPR) : 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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Notably, almost all REIT stocks, big or small and from different asset categories, including Prologis PLD, Alexandria Real Estate Equities Inc. ARE, The Macerich Company MAC and Innovative Industrial Properties, Inc. IIPR, moved higher. With a full percentage point decline expected in 2025 and another spate of reductions in 2026, the median projection for the federal funds rate by the end of December 2026 is pegged at 2.9%, which is close to the long-run outlook. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Notably, almost all REIT stocks, big or small and from different asset categories, including Prologis PLD, Alexandria Real Estate Equities Inc. ARE, The Macerich Company MAC and Innovative Industrial Properties, Inc. IIPR, moved higher. Presently, Innovative Industrial Properties carries a Zacks Rank #2 (Buy), while Prologis, Alexandria Real Estate and Macerich carry a Zacks Rank of 3 (Hold). Click to get this free report Prologis, Inc. (PLD) : Free Stock Analysis Report Macerich Company (The) (MAC) : Free Stock Analysis Report Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Notably, almost all REIT stocks, big or small and from different asset categories, including Prologis PLD, Alexandria Real Estate Equities Inc. ARE, The Macerich Company MAC and Innovative Industrial Properties, Inc. IIPR, moved higher. Specifically, the Fed officials’ median projections for the federal funds rate by the end of December 2024 is 4.6%, down from the 5.1% stated earlier, suggesting the comfort of the Fed officials with the easing of the inflation rate and the economy holding on well. Click to get this free report Prologis, Inc. (PLD) : Free Stock Analysis Report Macerich Company (The) (MAC) : Free Stock Analysis Report Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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But what was more encouraging was the signal from the Fed that it is done with rate hikes this time around and forecasting three rate cuts for next year. Notably, almost all REIT stocks, big or small and from different asset categories, including Prologis PLD, Alexandria Real Estate Equities Inc. ARE, The Macerich Company MAC and Innovative Industrial Properties, Inc. IIPR, moved higher. Specifically, the Fed officials’ median projections for the federal funds rate by the end of December 2024 is 4.6%, down from the 5.1% stated earlier, suggesting the comfort of the Fed officials with the easing of the inflation rate and the economy holding on well.
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5ddd3f86-d567-4a0f-a869-b8ec1c995d18
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713962.0
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2023-12-11 00:00:00 UTC
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WisdomTree U.S. MidCap Dividend Fund Experiences Big Inflow
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DCOMP
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https://www.nasdaq.com/articles/wisdomtree-u.s.-midcap-dividend-fund-experiences-big-inflow
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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 WisdomTree U.S. MidCap Dividend Fund (Symbol: DON) where we have detected an approximate $313.9 million dollar inflow -- that's a 9.2% increase week over week in outstanding units (from 76,250,000 to 83,250,000). Among the largest underlying components of DON, in trading today Vistra Corp (Symbol: VST) is off about 0.6%, Watsco Inc. (Symbol: WSO) is up about 0.9%, and Chesapeake Energy Corp. (Symbol: CHK) is higher by about 1.2%. For a complete list of holdings, visit the DON Holdings page » The chart below shows the one year price performance of DON, versus its 200 day moving average:
Looking at the chart above, DON's low point in its 52 week range is $38.51 per share, with $46.04 as the 52 week high point — that compares with a last trade of $45.83. 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:
Canadian Stocks Where Yields Got More Juicy
EPAM shares outstanding history
PD 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 today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the WisdomTree U.S. MidCap Dividend Fund (Symbol: DON) where we have detected an approximate $313.9 million dollar inflow -- that's a 9.2% increase week over week in outstanding units (from 76,250,000 to 83,250,000). 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: Canadian Stocks Where Yields Got More Juicy EPAM shares outstanding history PD 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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Among the largest underlying components of DON, in trading today Vistra Corp (Symbol: VST) is off about 0.6%, Watsco Inc. (Symbol: WSO) is up about 0.9%, and Chesapeake Energy Corp. (Symbol: CHK) is higher by about 1.2%. For a complete list of holdings, visit the DON Holdings page » The chart below shows the one year price performance of DON, versus its 200 day moving average: Looking at the chart above, DON's low point in its 52 week range is $38.51 per share, with $46.04 as the 52 week high point — that compares with a last trade of $45.83. 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 WisdomTree U.S. MidCap Dividend Fund (Symbol: DON) where we have detected an approximate $313.9 million dollar inflow -- that's a 9.2% increase week over week in outstanding units (from 76,250,000 to 83,250,000). For a complete list of holdings, visit the DON Holdings page » The chart below shows the one year price performance of DON, versus its 200 day moving average: Looking at the chart above, DON's low point in its 52 week range is $38.51 per share, with $46.04 as the 52 week high point — that compares with a last trade of $45.83. 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 WisdomTree U.S. MidCap Dividend Fund (Symbol: DON) where we have detected an approximate $313.9 million dollar inflow -- that's a 9.2% increase week over week in outstanding units (from 76,250,000 to 83,250,000). For a complete list of holdings, visit the DON Holdings page » The chart below shows the one year price performance of DON, versus its 200 day moving average: Looking at the chart above, DON's low point in its 52 week range is $38.51 per share, with $46.04 as the 52 week high point — that compares with a last trade of $45.83. 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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ad17b93c-e71e-4a05-838b-440a53c18a22
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713963.0
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2023-12-11 00:00:00 UTC
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Deutsche Bank (DB) Rewards Investors, Completes Share Buyback Plan
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DCOMP
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https://www.nasdaq.com/articles/deutsche-bank-db-rewards-investors-completes-share-buyback-plan
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nan
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Deutsche Bank AG DB has announced the completion of its share repurchase program. On Jul 25, 2023, Deutsche Bank received supervisory approvals for share repurchases of up to €450 million by 2023 end, which was 50% higher than in 2022.
Under the said plan, DB repurchased 45.5 million shares at a weighted average price of €9.88 per share between Aug 2 and Dec 8 of 2023.
Before this €450 million plan, Deutsche Bank had authorized a share repurchase program of up to €300 million on Jan 26, 2022. On Apr 25, 2023, it completed buybacks under the said program by repurchasing around 26.5 million shares at an average price of €11.3079 per share.
Apart from successful share repurchases, the company pays dividends to enhance shareholder value. Although the company did not pay any dividends in 2020 and 2019, it plans to return excess capital to shareholders through dividends and share buybacks in the near term. Management paid a dividend per share of 30 cents for the year 2022 in May 2023. This aggregated €0.6 billion and represented a hike of 50% from the prior payout.
Combining the dividend payments and share repurchases undertaken in 2023, DB returned more than €1 billion to shareholders in capital distributions. Also, the total capital distributions in 2023 and 2022 aggregated to approximately €1.77 billion.
Further, the management of Deutsche Bank expects to hike dividends by 50% in 2023 and 2024 each and achieve a payout ratio of 50% from 2025 onward. Such capital distributions are in line with the management’s intention to return around €8 billion to shareholders through the financial years 2021-2025.
Supported by its strong balance sheet position and favorable payout rate compared with the respective industry, Deutsche Bank is expected to continue with efficient capital distribution activities. Such consistent distributions will likely stoke investors’ confidence in the stock.
DB shares have gained 21.4% on the NYSE over the past six months compared with the industry’s 7.9% growth.
Image Source: Zacks Investment Research
Currently, DB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Finance Firms with New Share Repurchase Plans
Earlier this month, several companies rewarded shareholders with new share repurchase programs. Two of them are as follows:
Byline Bancorp, Inc. BY authorized the repurchase of up to 1.25 million shares. The program will commence on Jan 1, 2024, and expire on Dec 31, 2024. The repurchase authorization represents 2.9% of Byline’s outstanding common stock.
Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.”
Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025.
David Brown, chairman and CEO of VCTR, commented, “This new repurchase authorization allows us to remain flexible and opportunistic with our capital allocation.”
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report
Byline Bancorp, Inc. (BY) : Free Stock Analysis Report
Victory Capital Holdings, Inc. (VCTR) : 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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Supported by its strong balance sheet position and favorable payout rate compared with the respective industry, Deutsche Bank is expected to continue with efficient capital distribution activities. Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.” Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025. David Brown, chairman and CEO of VCTR, commented, “This new repurchase authorization allows us to remain flexible and opportunistic with our capital allocation.” The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Before this €450 million plan, Deutsche Bank had authorized a share repurchase program of up to €300 million on Jan 26, 2022. Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.” Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025. Click to get this free report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report Byline Bancorp, Inc. (BY) : Free Stock Analysis Report Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Before this €450 million plan, Deutsche Bank had authorized a share repurchase program of up to €300 million on Jan 26, 2022. Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.” Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025. Click to get this free report Deutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report Byline Bancorp, Inc. (BY) : Free Stock Analysis Report Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Before this €450 million plan, Deutsche Bank had authorized a share repurchase program of up to €300 million on Jan 26, 2022. Two of them are as follows: Byline Bancorp, Inc. BY authorized the repurchase of up to 1.25 million shares. Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.” Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025.
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764050f6-3604-4290-af75-4103cab6b514
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713964.0
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2023-12-11 00:00:00 UTC
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G-III Apparel Group (GIII) is a Great Momentum Stock: Should You Buy?
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DCOMP
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https://www.nasdaq.com/articles/g-iii-apparel-group-giii-is-a-great-momentum-stock%3A-should-you-buy
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nan
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nan
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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at G-III Apparel Group (GIII), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. G-III Apparel Group currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for GIII that show why this clothing and accessories maker shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For GIII, shares are up 8.81% over the past week while the Zacks Textile - Apparel industry is flat over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 22.88% compares favorably with the industry's 4.41% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of G-III Apparel Group have risen 35.24%, and are up 140.93% in the last year. In comparison, the S&P 500 has only moved 5.78% and 19.28%, respectively.
Investors should also take note of GIII's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, GIII is averaging 590,915 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with GIII.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost GIII's consensus estimate, increasing from $3.27 to $3.79 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that GIII is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep G-III Apparel Group on your short list.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
G-III Apparel Group, LTD. (GIII) : 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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It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. Click to get this free report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement.
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You can see the current list of Zacks #1 Rank Stocks here >>> Set to Beat the Market? Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost GIII's consensus estimate, increasing from $3.27 to $3.79 in the past 60 days.
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c88b6980-c5ca-4499-8096-32bf9c02ae55
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713965.0
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2023-12-11 00:00:00 UTC
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Unity Software Inc. (U) Upgraded to Buy: What Does It Mean for the Stock?
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DCOMP
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https://www.nasdaq.com/articles/unity-software-inc.-u-upgraded-to-buy%3A-what-does-it-mean-for-the-stock
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nan
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nan
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Unity Software Inc. (U) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Unity Software Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Unity Software Inc. imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Unity Software Inc.
This company is expected to earn $0.71 per share for the fiscal year ending December 2023, which represents a year-over-year change of 273.2%.
Analysts have been steadily raising their estimates for Unity Software Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 22.6%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Unity Software Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Unity Software Inc. (U) : 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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They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Unity Software Inc. imply an improvement in the company's underlying business.
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Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of Unity Software Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Unity Software Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
|
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Earnings Estimate Revisions for Unity Software Inc.
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f29a64e5-694d-48b2-8ccc-c2c1347c343b
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713966.0
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2023-12-11 00:00:00 UTC
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All You Need to Know About First Watch Restaurant Group, Inc. (FWRG) Rating Upgrade to Buy
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DCOMP
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https://www.nasdaq.com/articles/all-you-need-to-know-about-first-watch-restaurant-group-inc.-fwrg-rating-upgrade-to-buy
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nan
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nan
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First Watch Restaurant Group, Inc. (FWRG) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for First Watch Restaurant Group, Inc. basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For First Watch Restaurant Group, Inc. rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for First Watch Restaurant Group, Inc.
This company is expected to earn $0.42 per share for the fiscal year ending December 2023, which represents a year-over-year change of 281.8%.
Analysts have been steadily raising their estimates for First Watch Restaurant Group, Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 16.6%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of First Watch Restaurant Group, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
First Watch Restaurant Group, Inc. (FWRG) : 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.
|
Therefore, the Zacks rating upgrade for First Watch Restaurant Group, Inc. basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
|
Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of First Watch Restaurant Group, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of First Watch Restaurant Group, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
|
Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Earnings Estimate Revisions for First Watch Restaurant Group, Inc. You can learn more about the Zacks Rank here >>> The upgrade of First Watch Restaurant Group, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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8d2769f4-ca52-44aa-ad7f-f896dcf6dfd4
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713967.0
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2023-12-11 00:00:00 UTC
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Are You Looking for a Top Momentum Pick? Why Martin Marietta (MLM) is a Great Choice
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DCOMP
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https://www.nasdaq.com/articles/are-you-looking-for-a-top-momentum-pick-why-martin-marietta-mlm-is-a-great-choice-0
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nan
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nan
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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Martin Marietta (MLM), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Martin Marietta currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if MLM is a promising momentum pick, let's examine some Momentum Style elements to see if this seller of granite, limestone, sand and gravel holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For MLM, shares are up 0.44% over the past week while the Zacks Building Products - Concrete and Aggregates industry is flat over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.24% compares favorably with the industry's 6.27% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Martin Marietta have risen 15.89%, and are up 33.39% in the last year. In comparison, the S&P 500 has only moved 5.78% and 19.28%, respectively.
Investors should also pay attention to MLM's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MLM is currently averaging 306,316 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with MLM.
Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MLM's consensus estimate, increasing from $17.46 to $18.44 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been 1 downward revision in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that MLM is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Martin Marietta on your short list.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Martin Marietta Materials, Inc. (MLM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
|
We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year.
|
The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Earnings Outlook The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement.
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Below, we take a look at Martin Marietta (MLM), which currently has a Momentum Style Score of B. Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. MLM is currently averaging 306,316 shares for the last 20 days.
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a7d2f1be-96c9-4f31-aefe-004974c8f05a
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713968.0
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2023-12-11 00:00:00 UTC
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Anterix (ATEX) Upgraded to Buy: What Does It Mean for the Stock?
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DCOMP
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https://www.nasdaq.com/articles/anterix-atex-upgraded-to-buy%3A-what-does-it-mean-for-the-stock
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Anterix (ATEX) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Anterix is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Anterix imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Anterix
This wireless communications company is expected to earn -$1.53 per share for the fiscal year ending March 2024, which represents a year-over-year change of 34.3%.
Analysts have been steadily raising their estimates for Anterix. Over the past three months, the Zacks Consensus Estimate for the company has increased 30.2%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Anterix to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Anterix Inc. (ATEX) : 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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They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
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Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of Anterix to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Anterix to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. You can learn more about the Zacks Rank here >>> The upgrade of Anterix to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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54e53b9a-7a85-43b6-b3e4-19b101cefeeb
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713969.0
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2023-12-11 00:00:00 UTC
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Varonis (VRNS) Moves to Buy: Rationale Behind the Upgrade
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DCOMP
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https://www.nasdaq.com/articles/varonis-vrns-moves-to-buy%3A-rationale-behind-the-upgrade
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nan
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nan
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Varonis Systems (VRNS) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Varonis basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For Varonis, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Varonis
This data-management software company is expected to earn $0.30 per share for the fiscal year ending December 2023, which represents a year-over-year change of 66.7%.
Analysts have been steadily raising their estimates for Varonis. Over the past three months, the Zacks Consensus Estimate for the company has increased 12.1%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Varonis to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
Varonis Systems, Inc. (VRNS) : 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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Therefore, the Zacks rating upgrade for Varonis basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. The New Gold Rush: How Lithium Batteries Will Make Millionaires As the electric vehicle revolution expands, investors have a chance to target huge gains.
|
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision.
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Most Powerful Force Impacting Stock Prices The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can learn more about the Zacks Rank here >>> The upgrade of Varonis to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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A company's changing earnings picture is at the core of the Zacks rating. Therefore, the Zacks rating upgrade for Varonis basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. Harnessing the Power of Earnings Estimate Revisions Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision.
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49bacd90-df07-40cd-8247-43ac7b110af8
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713970.0
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2023-12-07 00:00:00 UTC
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3 Undervalued Dividend Aristocrat Giants To Buy Before It's Too Late
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DCOMP
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https://www.nasdaq.com/articles/3-undervalued-dividend-aristocrat-giants-to-buy-before-its-too-late-0
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nan
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nan
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Are you still struggling with building your retirement portfolio? Well, you are not alone. Almost every American has heard of the concept of investing for retirement. Yet, one of the most difficult parts is finding where to start. It can be hard to figure things out if you don’t have a background in finance. The great thing is that the stock market has some tried-and-true routes that anyone can take at any time, regardless of prior knowledge. For example, let’s look at Dividend Aristocrats.
Dividend Aristocrats are stocks listed on the S&P 500 that have consistently increased their dividends for the past 25 years. They are often trusted household names, beloved by income investors for the strength of the business, resilience during economic downturns, and predictable dividends. They can easily fit into any portfolio and provide reliable income streams.
This article will look at three undervalued dividend Aristocrats you can check out.
International Business Machines Corporation (IBM)
International Business Machines Corporation is a tech company making IT-related products and services. Actually, it's one of the biggest players in the current tech race. The company is known for its resiliency and ability to reinvent itself in different technology eras. These days, IBM is focused on mainstream development and application of AI, quantum computing, and cloud computing. One of its latest announcements detailed the release of “Quantum Heron,” which offers a five-fold error reduction improvement from its predecessor. Today, the company is currently offering a 4.11% dividend yield.
IBM’s financial performance is also on a roll, with its earnings continuously beating analyst estimates for the third consecutive quarter. Reported revenue also showed a 4.6% YoY increase due to the performance of its consulting and software segments, which grew 6% and 8%, respectively. The company has been increasing its foothold on AI and hybrid cloud capabilities through acquisitions and strategic investments in research and development. Its participation in AI and cloud computing makes IBM an excellent prospect for long-term investors looking to invest in their later years.
Analyst Ratings
Analysts rate IBM as a “Hold” based on 2 Strong Buy, 1 Moderate Buy, 6 Holds, and 1 Strong Sell. Its mean target price is $144.22, and its high target price is $179.00, an upside of 11.68%.
Realty Income Corporation (O)
The second stock in our list is Realty Income Corporation, a real estate investment trust. The company specializes in acquiring and managing commercial properties for long-term net lease agreements. Realty Income Corp leases properties spanning 84 industries in the U.S., U.K., Italy, and Puerto Rico. O has a long history of providing shareholder value, and it's dividends currently pay a 5.56% yield. The company’s recent increase marks its 104th consecutive quarterly dividend increase.
O’s 3rd quarter gave us a glimpse of its strong financials. The company reported a rent recapture rate of 106.9% for its re-leased properties, $4.5 billion in liquidity, and an occupancy rate of 98.8%. Reported EPS also beat analyst earnings estimates by 2%. Furthermore, the pending merger agreement with Spirit Realty Capital Inc., expected to close in the first quarter of 2024, will help boost the company’s growth. Its strong focus on investing in high-quality real estate, ample liquidity, and growth plans make O an excellent choice for long-term investors.
Analyst Ratings
O is currently rated as a “Moderate Buy” by analysts based on 4 Strong Buys, 1 Moderate Buy, and 8 Hold recommendations. The mean target for O is $60.73, and the high target price is $74.00, an upside of 35.26%.
3M Company (MMM)
3M Company is a consumer goods conglomerate that manufactures various products for industries like health care, consumer services, transportation, electronics, safety, and industrials. Americans would know it for its post-it notes, adhesives, stationeries, bandages, and respirators. The company has been in a strong down-trend this year due to the and has been slowly regaining its lost price performance following the news about its earplug settlement. Today, 3M currently offers investors a very attractive 5.9% dividend yield.
MMM’s latest quarterly results showed how big names are resilient even in uncertain market conditions. The company beat analyst earnings estimates by 14.53% despite the impact of the settlement. 3M is firmly focused on driving its operational performance with strategic initiatives and the strength of its operational segments. Based on its year-to-date performance, the company has raised its outlook for full-year adjusted EPS, cash flow, and free cash flow. Its strong management and predictable income make it one of the must-have stocks in a long-term portfolio.
Analyst Ratings
The last Dividend Aristocrat on our list is also rated as a “Hold” by analysts based on 1 Strong Buy, 11 Holds, and 2 Strong Sell recommendations. Its mean target price is $109.00, and the high target price is $159.00, an upside of 54.68%.
Final Thoughts
Investing long-term is one of the best strategies for investors looking for a secure retirement. While there are no fool-proof ways to get rich, the strategy helps to mitigate long-term risk by looking at companies with a proven track record of predictable income streams and resiliency during economic downturns.
On the date of publication, Rick Orford 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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They are often trusted household names, beloved by income investors for the strength of the business, resilience during economic downturns, and predictable dividends. Its strong focus on investing in high-quality real estate, ample liquidity, and growth plans make O an excellent choice for long-term investors. While there are no fool-proof ways to get rich, the strategy helps to mitigate long-term risk by looking at companies with a proven track record of predictable income streams and resiliency during economic downturns.
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International Business Machines Corporation (IBM) International Business Machines Corporation is a tech company making IT-related products and services. Analyst Ratings Analysts rate IBM as a “Hold” based on 2 Strong Buy, 1 Moderate Buy, 6 Holds, and 1 Strong Sell. Analyst Ratings The last Dividend Aristocrat on our list is also rated as a “Hold” by analysts based on 1 Strong Buy, 11 Holds, and 2 Strong Sell recommendations.
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Analyst Ratings Analysts rate IBM as a “Hold” based on 2 Strong Buy, 1 Moderate Buy, 6 Holds, and 1 Strong Sell. Analyst Ratings O is currently rated as a “Moderate Buy” by analysts based on 4 Strong Buys, 1 Moderate Buy, and 8 Hold recommendations. Analyst Ratings The last Dividend Aristocrat on our list is also rated as a “Hold” by analysts based on 1 Strong Buy, 11 Holds, and 2 Strong Sell recommendations.
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Reported EPS also beat analyst earnings estimates by 2%. Its strong management and predictable income make it one of the must-have stocks in a long-term portfolio. Analyst Ratings The last Dividend Aristocrat on our list is also rated as a “Hold” by analysts based on 1 Strong Buy, 11 Holds, and 2 Strong Sell recommendations.
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dba7195e-5313-4208-8402-15300e4a6712
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713971.0
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2023-12-07 00:00:00 UTC
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Airbnb, Inc. (ABNB) Is a Trending Stock: Facts to Know Before Betting on It
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DCOMP
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https://www.nasdaq.com/articles/airbnb-inc.-abnb-is-a-trending-stock%3A-facts-to-know-before-betting-on-it-6
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nan
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nan
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Airbnb, Inc. (ABNB) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Over the past month, shares of this company have returned +15%, compared to the Zacks S&P 500 composite's +4.4% change. During this period, the Zacks Internet - Content industry, which Airbnb, Inc. falls in, has gained 10.3%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Airbnb, Inc. is expected to post earnings of $0.70 per share for the current quarter, representing a year-over-year change of +45.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.1%.
For the current fiscal year, the consensus earnings estimate of $7.97 points to a change of +185.7% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $4.37 indicates a change of -45.1% from what Airbnb, Inc. is expected to report a year ago. Over the past month, the estimate has changed -0.3%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Airbnb, Inc. is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth Forecast
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Airbnb, Inc. the consensus sales estimate of $2.15 billion for the current quarter points to a year-over-year change of +13.2%. The $9.86 billion and $11.04 billion estimates for the current and next fiscal years indicate changes of +17.4% and +11.9%, respectively.
Last Reported Results and Surprise History
Airbnb, Inc. reported revenues of $3.4 billion in the last reported quarter, representing a year-over-year change of +17.8%. EPS of $2.39 for the same period compares with $1.79 a year ago.
Compared to the Zacks Consensus Estimate of $3.36 billion, the reported revenues represent a surprise of +0.98%. The EPS surprise was +14.9%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
Valuation
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Airbnb, Inc. is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Airbnb, Inc. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
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Airbnb, Inc. (ABNB) : 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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Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements. Conclusion The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Airbnb, Inc.
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Last Reported Results and Surprise History Airbnb, Inc. reported revenues of $3.4 billion in the last reported quarter, representing a year-over-year change of +17.8%. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
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Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Airbnb, Inc. is rated Zacks Rank #3 (Hold). While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
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EPS of $2.39 for the same period compares with $1.79 a year ago. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
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f6494bdb-ac73-4eb2-a56b-1a2ef55f62ed
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713972.0
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2023-12-07 00:00:00 UTC
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Why AI Will Drive Major PC Market Growth Next Year
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DCOMP
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https://www.nasdaq.com/articles/why-ai-will-drive-major-pc-market-growth-next-year
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Back in the 1990s, at the dawn of the internet, computer makers like Dell (DELL) and HP (HPQ) were the hottest stocks on Wall Street. During that time, the PC market grew like wildfire as consumers rushed to buy computers and get connected to the internet.
But by the 2010s, the market became saturated. Most people already had a desktop computer… and a laptop… and a tablet.
So, the market stopped growing. Global PC sales have been flat since about 2015. As a result, PC stocks have been flat, too.
In other words, over the past decade, the PC market hit a wall – and those stocks have gone absolutely nowhere.
But we could be looking at the start of a PC upgrade “supercycle” in 2024 and ’20’25, which could – for the first time in over 20 years – make PC stocks the hottest stocks on Wall Street again.
It may finally be time for those “old school” stocks to soar once again.
And it’s all thanks to AI.
An AI-Driven PC Boom?
In 2024, both Dell and HP plan to launch the first generation of what they’re calling “AI PCs” – PCs with artificial intelligence built into them.
They’ll come with the standard Central Processing Unit (CPUs) and Graphics Processing Unit (GPUs) that all advanced computers are outfitted with today. But they’ll also have Neural Processing Units (NPUs), which allow for AI to be run locally on the computers themselves.
And we’re confident that these next-gen PCs will unlock the next wave of AI productivity benefits.
Today, the only way to access AI is through the cloud. Users go to a website or mobile application, and a third-party cloud service provider delivers the AI service. This is called the AI-as-a-Service (AIaaS) model.
Typically, in this model, the cloud service provider gains access to users’ data and charges a fee for them to use that service regularly. Not to mention, it also requires the internet to use it.
But with AI PCs, there won’t be any data-sharing or recurring fees. Users will have artificial intelligence running locally and privately on their own computer. And they’ll be able to use it whenever, wherever – even without an internet connection.
Imagine being on your computer, pulling up Microsoft Office or Excel, and boom; there’s an AI assistant right there to help you craft whatever document or spreadsheet you’re working on.
You don’t need to open a separate window for ChatGPT or download and pay for Copilot. You just tap into the AI that is already built into your computer.
That is the widely-accessible future that AI PCs will usher in next year.
And we think this future has huge economic potential.
The PC Market Could Turn Red-Hot in a Flash
Obviously, on the consumer side of things, it’s easy to see how these AI PCs become ubiquitous. One person buys one. Then everyone around them realizes how cool it is to have artificial intelligence built into your own computer. And suddenly, we see a major snowball effect, where everyone wants and gets their own AI PC.
But the bigger potential here lies on the enterprise side of things – because that’s where the benefits of these next-gen PCs will really shine.
It’s costly for a company to buy every employee a license to ChatGPT or Copilot. It’s also scary to openly share all your data with cloud AI platforms. But at the same time, it’s now absolutely necessary for companies to get the power of artificial intelligence into their employees’ hands.
And the only way to deploy artificial intelligence while minimizing cost and protecting data is to use AI PCs.
Therefore, we believe that when Dell and HP launch their AI PCs in 2024 and ‘25, companies across America will go on an AI PC shopping spree. It’s very likely that your next company laptop will be an AI PC.
What does that mean for the sleepy PC market?
Explosive growth for the first time in 20 years.
The Final Word
According to research firm Canalys, the global PC market is set to grow by 8% in 2024 after contracting in both 2022 and ‘23. Then it’s expected to rise another ~20% in 2025.
And this coming AI PC supercycle is creating some compelling opportunities in PC stocks.
DELL only trades at 9.8X next year’s earnings estimates. HPQ trades at 8X next year’s earnings.
Those are dirt-cheap multiples. They only make sense if Dell and HP aren’t going to grow over the next few years. But both companies could grow by more than 10% over the next two years.
Therefore, DELL and HPQ offer two underrated and undervalued ways to play the AI Boom.
I wouldn’t be surprised if these AI PC stocks go parabolic next year and end up being some of the market’s biggest winners.
But in fact, these AI PC stocks aren’t my favorite way to play the AI trend in 2024.
Rather, that spot is reserved for a different stock – one that is trading for just over $3 per share and could easily soar above $30 next year.
Uncover the full details about that tiny stock before it skyrockets.
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The post Why AI Will Drive Major PC Market Growth Next Year 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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Imagine being on your computer, pulling up Microsoft Office or Excel, and boom; there’s an AI assistant right there to help you craft whatever document or spreadsheet you’re working on. The PC Market Could Turn Red-Hot in a Flash Obviously, on the consumer side of things, it’s easy to see how these AI PCs become ubiquitous. The Final Word According to research firm Canalys, the global PC market is set to grow by 8% in 2024 after contracting in both 2022 and ‘23.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Back in the 1990s, at the dawn of the internet, computer makers like Dell (DELL) and HP (HPQ) were the hottest stocks on Wall Street. But we could be looking at the start of a PC upgrade “supercycle” in 2024 and ’20’25, which could – for the first time in over 20 years – make PC stocks the hottest stocks on Wall Street again. In 2024, both Dell and HP plan to launch the first generation of what they’re calling “AI PCs” – PCs with artificial intelligence built into them.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Back in the 1990s, at the dawn of the internet, computer makers like Dell (DELL) and HP (HPQ) were the hottest stocks on Wall Street. Therefore, we believe that when Dell and HP launch their AI PCs in 2024 and ‘25, companies across America will go on an AI PC shopping spree. 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 Why AI Will Drive Major PC Market Growth Next Year appeared first on InvestorPlace.
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And it’s all thanks to AI. In 2024, both Dell and HP plan to launch the first generation of what they’re calling “AI PCs” – PCs with artificial intelligence built into them. But both companies could grow by more than 10% over the next two years.
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713973.0
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2023-12-07 00:00:00 UTC
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3 Standout Blockchain Stocks to Buy Ahead of Bitcoin's Big Year
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https://www.nasdaq.com/articles/3-standout-blockchain-stocks-to-buy-ahead-of-bitcoins-big-year
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Bitcoin (BTCUSD) has been on an absolute tear in 2023, with prices rising more than 160% year-to-date. Valued at over $850 billion by market cap, the world’s largest cryptocurrency is now among the top 10 most valuable assets globally.
Despite its astonishing rise this year, BTC prices are still down over 30% from all-time highs. But there are several key drivers for Bitcoin in the near term which should allow it to deliver outsized gains in 2024.
www.barchart.com
First is the possible launch of several spot exchange-traded funds (ETFs) by institutions such as BlackRock (BLK), Invesco (IVZ), and Ark Invest. The inflow of institutional funds should drive demand for the digital asset, allowing it to gain momentum before the halving event expected during the second quarter of 2024. The amount of rewards distributed to miners is reduced by 50% every four years, and this “halving” event has historically resulted in a massive spike in prices.
Keeping these factors in mind, here are three standout blockchain stocks to buy ahead of Bitcoin’s big year.
Bit Digital Stock
Valued at $273 million by market cap, Bit Digital (BTBT) is a Bitcoin mining and Ethereum (ETHUSD) staking company. It reported revenue of $11.6 million in Q3 after mining 403.1 Bitcoins in the quarter. It also earned close to 140 Ethereum tokens via staking.
Bit Digital ended the quarter with $22.1 million in cash and $108.7 million in total assets. Its treasury holdings of BTC have grown to 802.8 or $22.1 million, while its ETH position stands at 13,783.4 or $23 million as of Q3.
The two analysts covering BTBT both have a “strong buy” rating, with an average price target of $4.75 - indicating an upside potential of 38% from current levels.
www.barchart.com
Cipher Mining Stock
Cipher Mining (CIFR) develops and operates bitcoin mining data centers and aims to strengthen the network’s critical infrastructure. It completed the build-out of a facility at Odessa, deploying up to 7.2 EH/s of self-mining capacity across four data centers.
Cipher also executed an agreement to acquire a new site in Texas with approval for up to 300 MW of energy consumption. Moreover, the company purchased 1.2 EH/s worth of Bitmain S21 rigs for $14/TH for delivery beginning in Q1 of 2024.
Out of the seven analysts covering CIFR, five recommend “strong buy,” one recommends “moderate buy,” and one recommends “hold.” The average target price for CIFR is $5.17, indicating an upside potential of 93.6%.
www.barchart.com
Bitfarms Stock
The final Bitcoin stock on my list is Bitfarms (BITF), valued at $634 million by market cap. In Q3 of 2023, the company reported revenue of $35 million, an adjusted EBITDA (earnings before interest, tax, depreciation and amortization) of $7 million, and a net loss of $19 million.
It sold 1,018 BTC at an average price of $27,900 for total proceeds of $28 million, a portion of which was used to reduce balance sheet debt of $6 million. It also fully utilized miner manufacturer credits of $19 million with the purchase of hydro containers and miners.
Over the years, Bitfarms has invested in new facilities and miner upgrades, allowing it to expand mining capacities. The introduction of higher-efficiency, lower-priced miners should help it capitalize on competitive pricing for equipment upgrades.
Out of the four analysts covering BITF, three recommend a “strong buy,” and one recommends a “moderate buy.” The average target price for BITF is $3.69, indicating an upside potential of 79%.
www.barchart.com
On the date of publication, Aditya Raghunath 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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But there are several key drivers for Bitcoin in the near term which should allow it to deliver outsized gains in 2024. www.barchart.com First is the possible launch of several spot exchange-traded funds (ETFs) by institutions such as BlackRock (BLK), Invesco (IVZ), and Ark Invest. The inflow of institutional funds should drive demand for the digital asset, allowing it to gain momentum before the halving event expected during the second quarter of 2024. The two analysts covering BTBT both have a “strong buy” rating, with an average price target of $4.75 - indicating an upside potential of 38% from current levels.
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Bit Digital Stock Valued at $273 million by market cap, Bit Digital (BTBT) is a Bitcoin mining and Ethereum (ETHUSD) staking company. Out of the seven analysts covering CIFR, five recommend “strong buy,” one recommends “moderate buy,” and one recommends “hold.” The average target price for CIFR is $5.17, indicating an upside potential of 93.6%. Out of the four analysts covering BITF, three recommend a “strong buy,” and one recommends a “moderate buy.” The average target price for BITF is $3.69, indicating an upside potential of 79%.
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Bit Digital Stock Valued at $273 million by market cap, Bit Digital (BTBT) is a Bitcoin mining and Ethereum (ETHUSD) staking company. Out of the seven analysts covering CIFR, five recommend “strong buy,” one recommends “moderate buy,” and one recommends “hold.” The average target price for CIFR is $5.17, indicating an upside potential of 93.6%. In Q3 of 2023, the company reported revenue of $35 million, an adjusted EBITDA (earnings before interest, tax, depreciation and amortization) of $7 million, and a net loss of $19 million.
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Bit Digital Stock Valued at $273 million by market cap, Bit Digital (BTBT) is a Bitcoin mining and Ethereum (ETHUSD) staking company. www.barchart.com Bitfarms Stock The final Bitcoin stock on my list is Bitfarms (BITF), valued at $634 million by market cap. Over the years, Bitfarms has invested in new facilities and miner upgrades, allowing it to expand mining capacities.
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713974.0
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2023-12-07 00:00:00 UTC
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Canadian National (CNI) to Expand Via Iowa Northern Buyout
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https://www.nasdaq.com/articles/canadian-national-cni-to-expand-via-iowa-northern-buyout
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Canadian National CNI announced that it has signed and closed an agreement to acquire Iowa Northern Railway or IANR. IANR operates approximately 275 track miles in Iowa, connecting to the U.S. rail network of Canadian National.
The transaction, whose terms have not been disclosed, closed into an independent voting trust pending regulatory review by the U.S. Surface Transportation Board (STB). A decision from STB regarding the transaction is expected in 2024.
IANR provides service to the upper Midwest agricultural and industrial markets and covers goods like biofuels and grain. The transaction offers a meaningful opportunity to support growth of local businesses by creating single-line service to North American destinations.
Expressing delight at the transaction, Tracy Robinson, president and CEO of Canadian National, said, “We are delighted to have reached an agreement with Iowa Northern Railway. We look forward to the opportunities our combined network will provide customers, farmers, and our partners to respond to the needs of their existing and new markets. By enabling all of us to play an even more important role in this critical supply chain and densifying our southern network, we are accelerating sustainable, profitable growth.”
This move to buy IANR is a prudent one as it will expand the former’s network considerably in the event of a successful outcome of the STB review. We note that CNI shares have declined 6.5% in a year against the industry’s 0.9% growth.
Image Source: Zacks Investment Research
Headwinds like supply-chain woes, network fluidity challenges and weak intermodal scenario are hurting Canadian National's performance.
Zacks Rank & Key Picks
Canadian National currently carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Transportation sector may consider some better-ranked stocks like Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for current-year earnings has jumped 32.6% in the past 60 days.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Canadian National Railway Company (CNI) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Canadian National CNI announced that it has signed and closed an agreement to acquire Iowa Northern Railway or IANR. The transaction offers a meaningful opportunity to support growth of local businesses by creating single-line service to North American destinations. Image Source: Zacks Investment Research Headwinds like supply-chain woes, network fluidity challenges and weak intermodal scenario are hurting Canadian National's performance.
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Zacks Rank & Key Picks Canadian National currently carries a Zacks Rank #3 (Hold). Click to get this free report Canadian National Railway Company (CNI) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Zacks Rank & Key Picks Canadian National currently carries a Zacks Rank #3 (Hold). Investors interested in the Zacks Transportation sector may consider some better-ranked stocks like Air Canada ACDVF and SkyWest SKYW. Click to get this free report Canadian National Railway Company (CNI) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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IANR operates approximately 275 track miles in Iowa, connecting to the U.S. rail network of Canadian National. Thousands have taken advantage of this opportunity. See Stocks Now >> Want the latest recommendations from Zacks Investment Research?
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576eabd0-8984-479b-9fb3-52e3680f0a0b
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713975.0
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2023-12-07 00:00:00 UTC
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Strategic Collaborations Aid Genpact (G) Amid Rising Costs
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https://www.nasdaq.com/articles/strategic-collaborations-aid-genpact-g-amid-rising-costs
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Genpact Limited’s G growth is fueled by strategic collaborations, such as the AWS and Amazon Business collaborations, which transform property loss management and financial crime operations. Shareholder value is prioritized through substantial share repurchases and dividends. The integration of generative AI into the Enterprise360 platform enhances operational efficiency, thus exemplifying Genpact's commitment to transformative change.
How is Genpact Doing?
Genpact's commitment to delivering value to shareholders is evident through its strategic initiatives, particularly in share repurchases and dividend payments. In 2022, the company repurchased shares totaling $214.1 million, following repurchases of $298.2 million in 2021 and $137.1 million in 2020. Additionally, Genpact distributed dividends of $91.8 million, $80.5 million, and $74.2 million to shareholders in 2022, 2021 and 2020, respectively. These shareholder-friendly actions not only showcase Genpact's dedication to creating value but also reflect its confidence in the strength of its business.
Genpact Limited Revenue (TTM)
Genpact Limited revenue-ttm | Genpact Limited Quote
Artificial Intelligence (AI) presents a significant growth opportunity for Genpact. Genpact has integrated generative AI into its Enterprise360 intelligence platform, enhancing operational efficiency for clients globally. The platform combines digital tools and standardized processes, empowering businesses to address operational issues and optimize performance.
Genpact's playbook, "FMOps – The Generative AI Imperative for Production," offers practical guidelines for building ethical and scalable generative AI solutions, facilitating the transition from pilot projects to production. This initiative reflects Genpact's commitment to driving transformative change and delivering value through the strategic integration of generative AI across sectors.
Genpact's current ratio at the end of second-quarter 2023 was pegged at 1.91, higher than the current ratio of 1.88 reported at the end of prior-quarter and the year-ago quarter’s 1.08. Increasing current ratio bodes well as it indicates that the company will have no problem meeting its short-term debt obligations.
Genpact encounters notable client concentration in terms of geographical distribution. In 2022, more than half of its revenues came from clients in India, and more than 20% from North and Latin America. Moreover, more than 35% of revenues in 2022 were from clients in the High Tech and Manufacturing industry. This industry-specific reliance may pose long-term concerns for investors.
The outsourcing industry is labor-intensive and heavily dependent on foreign talent. Rising talent costs due to competition could curb the industry’s growth. Genpact, being one of the companies in the industry, is likely to be affected.
G currently has Zacks Rank #4 (Sell).
Stocks to Consider
Here are a few better-ranked stocks from the Business Services sector:
Gartner IT: The Zacks Consensus Estimate of Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure while earnings are expected to decline 1.9%. The company has beaten the consensus estimate in all four quarters, with an average surprise of 34.4%.
IT sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
FTI Consulting FCN: The Zacks Consensus Estimate of FCN’s 2023 revenues indicates 12.1% growth from the year-ago figure, while earnings are expected to grow 3.4%. The company has beaten the consensus estimate in three of the four quarters and missed on one instance, the average surprise being 8.5%.
FCN currently has a Zacks Rank #2 (Buy).
Broadridge Financial Solutions BR: The Zacks Consensus Estimate of Broadridge’s 2023 revenues indicates 7.7% growth from the year-ago figure while earnings are expected to grow 10.1%. The company has beaten the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR presently carries a Zacks Rank of 2.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
FTI Consulting, Inc. (FCN) : Free Stock Analysis Report
Genpact Limited (G) : Free Stock Analysis Report
Gartner, Inc. (IT) : 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 integration of generative AI into the Enterprise360 platform enhances operational efficiency, thus exemplifying Genpact's commitment to transformative change. The platform combines digital tools and standardized processes, empowering businesses to address operational issues and optimize performance. This initiative reflects Genpact's commitment to driving transformative change and delivering value through the strategic integration of generative AI across sectors.
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Stocks to Consider Here are a few better-ranked stocks from the Business Services sector: Gartner IT: The Zacks Consensus Estimate of Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure while earnings are expected to decline 1.9%. Broadridge Financial Solutions BR: The Zacks Consensus Estimate of Broadridge’s 2023 revenues indicates 7.7% growth from the year-ago figure while earnings are expected to grow 10.1%. Click to get this free report Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Genpact Limited (G) : Free Stock Analysis Report Gartner, Inc. (IT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Genpact Limited Revenue (TTM) Genpact Limited revenue-ttm | Genpact Limited Quote Artificial Intelligence (AI) presents a significant growth opportunity for Genpact. Stocks to Consider Here are a few better-ranked stocks from the Business Services sector: Gartner IT: The Zacks Consensus Estimate of Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure while earnings are expected to decline 1.9%. Click to get this free report Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Genpact Limited (G) : Free Stock Analysis Report Gartner, Inc. (IT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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How is Genpact Doing? Genpact, being one of the companies in the industry, is likely to be affected. Stocks to Consider Here are a few better-ranked stocks from the Business Services sector: Gartner IT: The Zacks Consensus Estimate of Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure while earnings are expected to decline 1.9%.
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713976.0
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2023-12-07 00:00:00 UTC
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Is It Too Late to Buy Palantir Technologies Stock?
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https://www.nasdaq.com/articles/is-it-too-late-to-buy-palantir-technologies-stock-3
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Palantir Technologies (NYSE: PLTR) has been one of the standout performers on the stock market in 2023, with huge gains of 180% so far. Artificial intelligence (AI) has been one of the key reasons behind the stock's terrific surge, as the company is expected to win big from the fast-growing adoption of this technology.
However, Palantir's revenue growth has been impacted this year by a slowdown in government spending, which may be a point of concern for investors given the stock's rich valuation. Does this mean that Palantir stock isn't a worthy investment anymore? Or, will artificial intelligence accelerate its growth and help justify the valuation?
The stock is richly valued, but that's half the story
Palantir is now trading at an expensive 19 times sales, which is nearly triple the company's price-to-sales ratio at the end of 2022. Also, its trailing earnings multiple stands at 262. However, the surge in the company's stock price has mostly been driven by its prospects in the AI software market, not by its financial growth, which slowed in 2023.
Palantir's revenue in the first nine months of 2023 increased 15% year over year to $1.6 billion. The company forecasts 2023 revenue to land at $2.22 billion, which would be a 16% jump over 2022's top line. That would be slower than the 24% jump in Palantir's revenue in 2022.
PLTR PS Ratio data by YCharts
Palantir's growth this year has been affected by a slowdown in government spending. The company got 55% of its revenue in the third quarter by selling its software platform to government agencies. However, Palantir's government-related revenue increased just 12% year over year to $308 million. The company's total revenue during the quarter was up 17% year over year to $558 million.
The good part is that Palantir management expects government spending to pick up. Management pointed out on the company's November earnings conference call that it has started winning new government contracts, thanks mainly to the growing adoption of AI and machine learning.
A study by Stanford University notes that the U.S. government spent $3.3 billion on AI contracts in 2022, up 22% from the previous year. Looking ahead, global spending on AI hardware, software, and services is anticipated to jump to $300 billion in 2026 from this year's estimate of $154 billion. As a result, Palantir could land more federal contracts as governments around the globe integrate AI into their functions.
The growth of the AI software market will also have a positive impact on Palantir's commercial business. The company's commercial revenue was up 23% year over year in Q3 to $251 million. Palantir's total customer count increased an impressive 34% last quarter to 453, driven by a 45% year-over-year jump in the number of commercial customers to 330.
AI can help Palantir sustain the growth in its customer base thanks to the rapidly growing adoption of its Artificial Intelligence Platform (AIP). Management remarked on theearnings callthat Palantir "almost tripled the number of AIP users last quarter, and nearly 300 distinct organizations have used AIP since our launch just five months ago."
With the AI software market set to grow at an annual rate of 31% through 2027, Palantir could witness an acceleration in growth as it attracts more customers looking to use AI, while also benefiting from higher spending from its existing customers.
All this explains why Palantir's growth is expected to accelerate over the next couple of years.
PLTR Revenue Estimates for Current Fiscal Year data by YCharts
What should investors do?
AI played a central role in Palantir's surge this year, and it could continue to be a catalyst for the stock as it is considered to be one of the leading players in AI software. So, investors who already hold Palantir stock could continue to hold it in anticipation of that boost. But if someone is looking to buy the stock now, they will have to pay a rich multiple to do so.
However, an acceleration in Palantir's growth should help justify the company's valuation, which is why its forward-looking multiples are lower than the trailing multiples.
PLTR PS Ratio (Forward 1y) data by YCharts
What's more, analysts are expecting Palantir's earnings to increase at an annual rate of 85% over the next five years. That would be a huge improvement over the past five years, when the company's bottom line has shrunk at a rate of almost 8% a year. Growth-oriented investors can still consider buying Palantir despite its valuation since it seems built for more upside -- thanks to a big catalyst in the form of AI.
10 stocks we like better than Palantir Technologies
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Palantir Technologies wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of November 29, 2023
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Palantir Technologies. 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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Artificial intelligence (AI) has been one of the key reasons behind the stock's terrific surge, as the company is expected to win big from the fast-growing adoption of this technology. The stock is richly valued, but that's half the story Palantir is now trading at an expensive 19 times sales, which is nearly triple the company's price-to-sales ratio at the end of 2022. Management pointed out on the company's November earnings conference call that it has started winning new government contracts, thanks mainly to the growing adoption of AI and machine learning.
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PLTR PS Ratio data by YCharts Palantir's growth this year has been affected by a slowdown in government spending. The good part is that Palantir management expects government spending to pick up. PLTR PS Ratio (Forward 1y) data by YCharts What's more, analysts are expecting Palantir's earnings to increase at an annual rate of 85% over the next five years.
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However, Palantir's revenue growth has been impacted this year by a slowdown in government spending, which may be a point of concern for investors given the stock's rich valuation. Palantir's revenue in the first nine months of 2023 increased 15% year over year to $1.6 billion. AI played a central role in Palantir's surge this year, and it could continue to be a catalyst for the stock as it is considered to be one of the leading players in AI software.
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However, Palantir's revenue growth has been impacted this year by a slowdown in government spending, which may be a point of concern for investors given the stock's rich valuation. Palantir's revenue in the first nine months of 2023 increased 15% year over year to $1.6 billion. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Palantir Technologies wasn't one of them!
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713977.0
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2023-12-07 00:00:00 UTC
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Why QuantumScape Stock Surged 22% in November
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DCOMP
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https://www.nasdaq.com/articles/why-quantumscape-stock-surged-22-in-november
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nan
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nan
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After losing nearly 61% of their value between August and October, shares of QuantumScape (NYSE: QS) rebounded in November and surged 21.5%, according to data provided by S&P Global Market Intelligence. Investors saw an opportunity to buy the battered electric vehicle (EV) battery stock after it lowered losses and provided an encouraging product update.
QuantumScape's announces impressive battery testing result
QuantumScape announced its third-quarter numbers in late October. While the company is still developing solid-state lithium-metal batteries and is yet to generate any revenue, it reported a net loss of only $0.23 per share in Q3, versus $0.27 a share in the year-ago quarter, and that number handily beat analysts' estimates. QuantumScape's loss narrowed because of higher interest income and a one-time unrealized gain on marketable securities.
QuantumScape's numbers, however, don't matter as much right now as the company's progress toward the commercialization of its technology. While commercialization could still be years away, QuantumScape often shares testing data from third parties, and its latest update looks particularly interesting.
During its latest earnings release, QuantumScape said its best-performing A0 prototype cell had achieved more than 1,000 full-cycle equivalents with over 95% discharge energy retention at a prospective customer's battery testing lab. That result surpasses QuantumScape's commercial target of 800 cycles with 80% energy retention, and is meaningful since the A0 prototype uses the same proprietary format as QuantumScape's first commercial product, QSE-5.
QSE-5 is a solid-state 5 Amp-hours battery. QuantumScape is already collaborating with a prospective automotive customer for the commercial launch of QSE-5 and also entered a technology evaluation agreement with a "leading global consumer electronics player" in Q3.
Is it time to buy QuantumScape stock?
Solid-state battery is a promising technology, and QuantumScape is one of the front-runners. With its prototype exceeding testing targets, investors' expectations from the young company just got a boost. Meanwhile, the Department of Energy (DOE) earmarked up to $3.5 billion in funding in November to boost domestic production of batteries and battery materials as a step toward the Biden administration's target of a net-zero emissions economy by 2050. Electric vehicles should play a key role, as the administration expects EVs to make up 50% of all new light-duty vehicle sales by 2030.
Also, although QuantumScape is burning cash, it ended the third quarter with more than $1.1 billion in liquidity and believes it is enough to fund operations through 2026. Young companies in the development stage are often cash-strapped, so finding an exception in QuantumScape is one of the reasons why investors are betting on the EV stock.
That said, it's still a long road ahead for QuantumScape as it builds batteries and commercializes them, and a lot could go wrong in between. This means QuantumScape stock is a buy only if you're willing to speculate on the company's success and take a risk.
10 stocks we like better than QuantumScape
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and QuantumScape wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 4, 2023
Neha Chamaria 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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After losing nearly 61% of their value between August and October, shares of QuantumScape (NYSE: QS) rebounded in November and surged 21.5%, according to data provided by S&P Global Market Intelligence. During its latest earnings release, QuantumScape said its best-performing A0 prototype cell had achieved more than 1,000 full-cycle equivalents with over 95% discharge energy retention at a prospective customer's battery testing lab. QuantumScape is already collaborating with a prospective automotive customer for the commercial launch of QSE-5 and also entered a technology evaluation agreement with a "leading global consumer electronics player" in Q3.
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Investors saw an opportunity to buy the battered electric vehicle (EV) battery stock after it lowered losses and provided an encouraging product update. QuantumScape's announces impressive battery testing result QuantumScape announced its third-quarter numbers in late October. With its prototype exceeding testing targets, investors' expectations from the young company just got a boost.
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QuantumScape's announces impressive battery testing result QuantumScape announced its third-quarter numbers in late October. That result surpasses QuantumScape's commercial target of 800 cycles with 80% energy retention, and is meaningful since the A0 prototype uses the same proprietary format as QuantumScape's first commercial product, QSE-5. 10 stocks we like better than QuantumScape When our analyst team has a stock tip, it can pay to listen.
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QuantumScape's numbers, however, don't matter as much right now as the company's progress toward the commercialization of its technology. While commercialization could still be years away, QuantumScape often shares testing data from third parties, and its latest update looks particularly interesting. That's right -- they think these 10 stocks are even better buys.
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dd06b2d6-3946-4686-9900-0890c1e4422d
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713978.0
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2023-12-07 00:00:00 UTC
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Dollar General (DG) Q3 Earnings Beat Estimates, Decline Y/Y
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DCOMP
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https://www.nasdaq.com/articles/dollar-general-dg-q3-earnings-beat-estimates-decline-y-y
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nan
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nan
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Dollar General Corporation DG came up with third-quarter fiscal 2023 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Net sales grew year over year while earnings declined. This Goodlettsville, TN-based company witnessed a same-store sales decline in the quarter.
Let’s Delve Deeper
The quarterly earnings came in at $1.26 per share, which beat the Zacks Consensus Estimate of $1.19 per share but decreased 45.9% from the prior-year period.
Net sales of $9,694.1 million rose 2.4% from the prior-year period on sales contributions from new stores, partly offset by a fall in same-store sales and the impact of store closures. The top line came ahead of the Zacks Consensus Estimate of $9,646 million.
Dollar General’s same-store sales fell 1.3% year over year, owing to a lower average transaction amount, partly offset by an increase in customer traffic. Same-store sales reflected declines in the home, seasonal, consumable and apparel categories.
Sales increased 3.6% year over year to $ 7,940.5 million for Consumables. However, sales declined 0.2% to $940.6 million for Seasonal, 7% to $534.5 million for Home Products and 1.5% to $278.5 million for the Apparel category.
Gross profit dipped 2.5% to $2,812.5 million in the reported quarter and the gross margin decreased 147 basis points to 29%. The decline in the gross margin can be attributed to lower inventory markups, increased shrink and higher markdowns, partly offset by a lower LIFO provision and decreased transportation costs.
SG&A expenses, as a percentage of net sales, increased 183 basis points to 24.5% in the quarter. Operating profit declined 41.1% to $433.5 million.
Store Update
In the third quarter of fiscal 2023, Dollar General opened 263 stores, remodeled 545 stores and relocated 44 stores. In fiscal 2024, the company anticipates carrying out 2,385 real estate projects, including 800 store openings, 1,500 remodels and 85 store relocations.
Dollar General Corporation Price, Consensus and EPS Surprise
Dollar General Corporation price-consensus-eps-surprise-chart | Dollar General Corporation Quote
Other Financial Details
Dollar General ended the quarter with cash and cash equivalents of $365.4 million, long-term obligations of $6,440.8 million and shareholders’ equity of $6,451.9 million.
Management incurred capital expenditures of $1.2 billion during the 39-week period ended Nov 3. For fiscal 2023, the company still anticipates capital expenditures in the band of $1.6-$1.7 billion.
During the third quarter of fiscal 2023, Dollar General did not repurchase shares. The company had $1.4 billion remaining under its authorization at the end of the quarter. It currently predicts no share repurchases for the fiscal year. On Dec 6, 2023, the firm announced a quarterly dividend of 59 cents per share, payable on or before Jan 23, 2024, to shareholders of record as of Jan 9, 2024.
Outlook
The company has been taking actions to accelerate the pace of inventory-reduction efforts and additional investments in planned areas like retail labor to elevate the in-store experience.
For fiscal 2023, management now projects net sales growth to be in the band of 1.5-2.5% versus the previous expectation of 1.3-3.3%. This includes a negative impact of about two percentage points owing to the lapping fiscal 2022 53rd week. Same-store sales growth is likely to come in the range of a decline of about 1% to flat against the previous guidance range of a 1% decline to 1% growth.
For fiscal 2023, the company now expects earnings per share to be $7.10-$7.60 or a decrease of 29-34% versus the prior expectation of about a 22-34% decline. This view includes the adverse impact of nearly four percentage points owing to higher interest expense.
Shares of this Zacks Rank #4 (Sell) company have gained 5.3% in the past three months compared with the industry’s growth of 6.5%.
3 Red-Hot Stocks
Some better-ranked stocks are MINISO Group Holding Limited MNSO, Deckers Outdoor Corporation DECK and MarineMax HZO. While MINISO Group sports a Zacks Rank #1 (Strong Buy), Deckers Outdoor and MarineMax, each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MINISO Group operates as a retailer and wholesaler of lifestyle products. The Zacks Consensus Estimate for MNSO’s current financial-year earnings per share and sales suggests growth of 43.6% and 29.9%, respectively, from the corresponding year-ago reported figures.
Deckers Outdoor is a leading producer and brand manager of innovative, niche footwear and accessories. The Zacks Consensus Estimate for Deckers’ current fiscal-year earnings and sales indicates growth of 20.9% and 11.4%, respectively, from the previous year’s reported figures. DECK has a trailing four-quarter earnings surprise of 26.3% on average.
MarineMax is a recreational boat and yacht retailer and a superyacht services company. MarineMax’s earnings came in line with the Zacks Consensus Estimate in the last reported quarter. The Zacks Consensus Estimate for HZO’s current financial year sales suggests growth of 3.1% from the year-ago period’s figures.
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Dollar General Corporation (DG) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
MarineMax, Inc. (HZO) : Free Stock Analysis Report
MINISO Group Holding Limited Unsponsored ADR (MNSO) : 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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Dollar General Corporation DG came up with third-quarter fiscal 2023 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Outlook The company has been taking actions to accelerate the pace of inventory-reduction efforts and additional investments in planned areas like retail labor to elevate the in-store experience. The Zacks Consensus Estimate for MNSO’s current financial-year earnings per share and sales suggests growth of 43.6% and 29.9%, respectively, from the corresponding year-ago reported figures.
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Dollar General Corporation Price, Consensus and EPS Surprise Dollar General Corporation price-consensus-eps-surprise-chart | Dollar General Corporation Quote Other Financial Details Dollar General ended the quarter with cash and cash equivalents of $365.4 million, long-term obligations of $6,440.8 million and shareholders’ equity of $6,451.9 million. 3 Red-Hot Stocks Some better-ranked stocks are MINISO Group Holding Limited MNSO, Deckers Outdoor Corporation DECK and MarineMax HZO. Click to get this free report Dollar General Corporation (DG) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report MarineMax, Inc. (HZO) : Free Stock Analysis Report MINISO Group Holding Limited Unsponsored ADR (MNSO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Net sales of $9,694.1 million rose 2.4% from the prior-year period on sales contributions from new stores, partly offset by a fall in same-store sales and the impact of store closures. Dollar General Corporation Price, Consensus and EPS Surprise Dollar General Corporation price-consensus-eps-surprise-chart | Dollar General Corporation Quote Other Financial Details Dollar General ended the quarter with cash and cash equivalents of $365.4 million, long-term obligations of $6,440.8 million and shareholders’ equity of $6,451.9 million. Click to get this free report Dollar General Corporation (DG) : Free Stock Analysis Report Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report MarineMax, Inc. (HZO) : Free Stock Analysis Report MINISO Group Holding Limited Unsponsored ADR (MNSO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Net sales grew year over year while earnings declined. Dollar General’s same-store sales fell 1.3% year over year, owing to a lower average transaction amount, partly offset by an increase in customer traffic. Sales increased 3.6% year over year to $ 7,940.5 million for Consumables.
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18a0d0b0-844d-4962-864b-3b984f51c215
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713979.0
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2023-12-07 00:00:00 UTC
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IVW, BX, SNPS, CDNS: ETF Outflow Alert
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DCOMP
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https://www.nasdaq.com/articles/ivw-bx-snps-cdns%3A-etf-outflow-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 iShares S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $104.6 million dollar outflow -- that's a 0.3% decrease week over week (from 493,700,000 to 492,250,000). Among the largest underlying components of IVW, in trading today Blackstone Inc (Symbol: BX) is up about 1.4%, Synopsys Inc (Symbol: SNPS) is up about 1.2%, and Cadence Design Systems Inc (Symbol: CDNS) is up by about 0.4%. For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average:
Looking at the chart above, IVW's low point in its 52 week range is $57.19 per share, with $73.125 as the 52 week high point — that compares with a last trade of $72.77. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Top Ten Hedge Funds Holding RECS
STAA Stock Predictions
Funds Holding PAMC
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: Top Ten Hedge Funds Holding RECS STAA Stock Predictions Funds Holding PAMC 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 IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $57.19 per share, with $73.125 as the 52 week high point — that compares with a last trade of $72.77. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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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 S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $104.6 million dollar outflow -- that's a 0.3% decrease week over week (from 493,700,000 to 492,250,000). For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $57.19 per share, with $73.125 as the 52 week high point — that compares with a last trade of $72.77. 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 S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $104.6 million dollar outflow -- that's a 0.3% decrease week over week (from 493,700,000 to 492,250,000). For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $57.19 per share, with $73.125 as the 52 week high point — that compares with a last trade of $72.77. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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19c193d9-87b1-486a-be0d-9515f69f3d85
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713980.0
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2023-12-07 00:00:00 UTC
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VB, TRGP, PTC, ATO: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/vb-trgp-ptc-ato%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 Vanguard Small-Cap ETF (Symbol: VB) where we have detected an approximate $391.7 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 230,697,736 to 232,672,484). Among the largest underlying components of VB, in trading today Targa Resources Corp (Symbol: TRGP) is down about 0.1%, PTC Inc (Symbol: PTC) is up about 1.2%, and Atmos Energy Corp. (Symbol: ATO) is relatively unchanged. For a complete list of holdings, visit the VB Holdings page » The chart below shows the one year price performance of VB, versus its 200 day moving average:
Looking at the chart above, VB's low point in its 52 week range is $174.84 per share, with $210 as the 52 week high point — that compares with a last trade of $199.13. 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:
TRIL Videos
ISH Videos
RETA Price Target
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: TRIL Videos ISH Videos RETA Price Target 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 VB, in trading today Targa Resources Corp (Symbol: TRGP) is down about 0.1%, PTC Inc (Symbol: PTC) is up about 1.2%, and Atmos Energy Corp. (Symbol: ATO) is relatively unchanged. For a complete list of holdings, visit the VB Holdings page » The chart below shows the one year price performance of VB, versus its 200 day moving average: Looking at the chart above, VB's low point in its 52 week range is $174.84 per share, with $210 as the 52 week high point — that compares with a last trade of $199.13. Click here to find out which 9 other ETFs had notable inflows » Also see: TRIL Videos ISH Videos RETA Price Target 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 Vanguard Small-Cap ETF (Symbol: VB) where we have detected an approximate $391.7 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 230,697,736 to 232,672,484). For a complete list of holdings, visit the VB Holdings page » The chart below shows the one year price performance of VB, versus its 200 day moving average: Looking at the chart above, VB's low point in its 52 week range is $174.84 per share, with $210 as the 52 week high point — that compares with a last trade of $199.13. 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 Vanguard Small-Cap ETF (Symbol: VB) where we have detected an approximate $391.7 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 230,697,736 to 232,672,484). For a complete list of holdings, visit the VB Holdings page » The chart below shows the one year price performance of VB, versus its 200 day moving average: Looking at the chart above, VB's low point in its 52 week range is $174.84 per share, with $210 as the 52 week high point — that compares with a last trade of $199.13. 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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e68f5d1b-9116-4d36-8595-a9fd998bb476
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713981.0
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2023-12-07 00:00:00 UTC
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Why Nikola Stock Tumbled Today
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DCOMP
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https://www.nasdaq.com/articles/why-nikola-stock-tumbled-today
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nan
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nan
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Investors are punishing Nikola (NASDAQ: NKLA) today, plunging the stock below $1 per share. A company announcement has investors losing confidence in the electric heavy-truck maker's chances for survival. The stock plummeted 23.5% in early trading before settling in with a decline of 17.6% as of 10:40 a.m. ET.
Yet another fundraiser
The drop is due to Nikola's latest announcement that it is seeking to raise more money through new offerings of both common stock and convertible senior notes. The company expects to raise $100 million through the stock sale and another $200 million from the sale of convertible bonds.
Current shareholders will own less of the company as a result of the capital raise just announced. And it comes after Nikola already diluted shareholders in the third quarter through other fundraising moves. Some of the need for more capital comes after a recall of about 200 of its battery-electric trucks cost the company $62 million.
Counting on hydrogen
Nikola says the funds will be used for working capital and other business needs. Those needs will surely be focused on the recent launch and needed production ramp for Nikola's hydrogen fuel cell-powered trucks. The company will still make battery-electric models, but it has been prioritizing its fuel-cell electric vehicles (FCEVs).
At the end of the third quarter, Nikola had nonbinding orders for almost 300 of its FCEVs from 35 customers. Those trucks and the needed hydrogen-fuel infrastructure are likely the only hope for Nikola's long-term survival. Investors must realize that's the bet they are making if they buy this stock, even while it's down.
10 stocks we like better than Nikola
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Nikola wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 4, 2023
Howard Smith has positions in Nikola. 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 are punishing Nikola (NASDAQ: NKLA) today, plunging the stock below $1 per share. A company announcement has investors losing confidence in the electric heavy-truck maker's chances for survival. Yet another fundraiser The drop is due to Nikola's latest announcement that it is seeking to raise more money through new offerings of both common stock and convertible senior notes.
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The company expects to raise $100 million through the stock sale and another $200 million from the sale of convertible bonds. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Howard Smith has positions in Nikola.
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Yet another fundraiser The drop is due to Nikola's latest announcement that it is seeking to raise more money through new offerings of both common stock and convertible senior notes. 10 stocks we like better than Nikola When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Howard Smith has positions in Nikola.
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Current shareholders will own less of the company as a result of the capital raise just announced. The company will still make battery-electric models, but it has been prioritizing its fuel-cell electric vehicles (FCEVs). * They just revealed what they believe are the ten best stocks for investors to buy right now... and Nikola wasn't one of them!
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7c2e78ca-54d7-4525-a510-19418c8ddacd
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713982.0
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2023-12-07 00:00:00 UTC
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OIH, SLB, HAL, BKR: Large Outflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/oih-slb-hal-bkr%3A-large-outflows-detected-at-etf-1
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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 Oil Services ETF (Symbol: OIH) where we have detected an approximate $88.4 million dollar outflow -- that's a 4.2% decrease week over week (from 7,150,543 to 6,850,543). Among the largest underlying components of OIH, in trading today Schlumberger Ltd (Symbol: SLB) is off about 0.5%, Halliburton Company (Symbol: HAL) is off about 0.1%, and Baker Hughes Company (Symbol: BKR) is up by about 0.3%. For a complete list of holdings, visit the OIH Holdings page » The chart below shows the one year price performance of OIH, versus its 200 day moving average:
Looking at the chart above, OIH's low point in its 52 week range is $246.04 per share, with $364.08 as the 52 week high point — that compares with a last trade of $295.51. 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:
KFY Stock Predictions
EBTC shares outstanding history
Institutional Holders of TAGG
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: KFY Stock Predictions EBTC shares outstanding history Institutional Holders of TAGG 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 OIH Holdings page » The chart below shows the one year price performance of OIH, versus its 200 day moving average: Looking at the chart above, OIH's low point in its 52 week range is $246.04 per share, with $364.08 as the 52 week high point — that compares with a last trade of $295.51. 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: KFY Stock Predictions EBTC shares outstanding history Institutional Holders of TAGG 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 Oil Services ETF (Symbol: OIH) where we have detected an approximate $88.4 million dollar outflow -- that's a 4.2% decrease week over week (from 7,150,543 to 6,850,543). For a complete list of holdings, visit the OIH Holdings page » The chart below shows the one year price performance of OIH, versus its 200 day moving average: Looking at the chart above, OIH's low point in its 52 week range is $246.04 per share, with $364.08 as the 52 week high point — that compares with a last trade of $295.51. 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 Oil Services ETF (Symbol: OIH) where we have detected an approximate $88.4 million dollar outflow -- that's a 4.2% decrease week over week (from 7,150,543 to 6,850,543). For a complete list of holdings, visit the OIH Holdings page » The chart below shows the one year price performance of OIH, versus its 200 day moving average: Looking at the chart above, OIH's low point in its 52 week range is $246.04 per share, with $364.08 as the 52 week high point — that compares with a last trade of $295.51. 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).
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27b5a8ac-894f-4fc4-a09c-d33af6b119db
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713983.0
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2023-12-07 00:00:00 UTC
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IWB, LOW, BKNG, ELV: Large Outflows Detected at ETF
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DCOMP
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https://www.nasdaq.com/articles/iwb-low-bkng-elv%3A-large-outflows-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 iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $237.8 million dollar outflow -- that's a 0.8% decrease week over week (from 124,950,000 to 124,000,000). Among the largest underlying components of IWB, in trading today Lowe's Companies Inc (Symbol: LOW) is trading flat, Booking Holdings Inc (Symbol: BKNG) is up about 2.3%, and Elevance Health Inc (Symbol: ELV) is lower by about 0.5%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average:
Looking at the chart above, IWB's low point in its 52 week range is $206.23 per share, with $252.935 as the 52 week high point — that compares with a last trade of $251.91. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Top 10 Hedge Funds Holding Whirlpool
CATC Dividend History
TREC 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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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: Top 10 Hedge Funds Holding Whirlpool CATC Dividend History TREC 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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Among the largest underlying components of IWB, in trading today Lowe's Companies Inc (Symbol: LOW) is trading flat, Booking Holdings Inc (Symbol: BKNG) is up about 2.3%, and Elevance Health Inc (Symbol: ELV) is lower by about 0.5%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $206.23 per share, with $252.935 as the 52 week high point — that compares with a last trade of $251.91. 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).
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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 Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $237.8 million dollar outflow -- that's a 0.8% decrease week over week (from 124,950,000 to 124,000,000). For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $206.23 per share, with $252.935 as the 52 week high point — that compares with a last trade of $251.91. 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 Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $237.8 million dollar outflow -- that's a 0.8% decrease week over week (from 124,950,000 to 124,000,000). Among the largest underlying components of IWB, in trading today Lowe's Companies Inc (Symbol: LOW) is trading flat, Booking Holdings Inc (Symbol: BKNG) is up about 2.3%, and Elevance Health Inc (Symbol: ELV) is lower by about 0.5%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $206.23 per share, with $252.935 as the 52 week high point — that compares with a last trade of $251.91.
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08802fea-14e7-4e23-89d4-cb367eac4720
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713984.0
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2023-12-07 00:00:00 UTC
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Noteworthy ETF Outflows: VPU, SRE, AEP, EXC
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-vpu-sre-aep-exc
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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 Vanguard Utilities ETF (Symbol: VPU) where we have detected an approximate $99.7 million dollar outflow -- that's a 2.0% decrease week over week (from 35,432,499 to 34,707,849). Among the largest underlying components of VPU, in trading today Sempra (Symbol: SRE) is up about 0.1%, American Electric Power Co Inc (Symbol: AEP) is up about 0.3%, and Exelon Corp (Symbol: EXC) is up by about 0.3%. For a complete list of holdings, visit the VPU Holdings page » The chart below shows the one year price performance of VPU, versus its 200 day moving average:
Looking at the chart above, VPU's low point in its 52 week range is $118.8064 per share, with $160.71 as the 52 week high point — that compares with a last trade of $137.66. 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 experienced notable outflows »
Also see:
Electronics Stores Dividend Stocks
Funds Holding XPEL
Funds Holding TPS
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: Electronics Stores Dividend Stocks Funds Holding XPEL Funds Holding TPS 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 VPU Holdings page » The chart below shows the one year price performance of VPU, versus its 200 day moving average: Looking at the chart above, VPU's low point in its 52 week range is $118.8064 per share, with $160.71 as the 52 week high point — that compares with a last trade of $137.66. 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: Electronics Stores Dividend Stocks Funds Holding XPEL Funds Holding TPS 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 Vanguard Utilities ETF (Symbol: VPU) where we have detected an approximate $99.7 million dollar outflow -- that's a 2.0% decrease week over week (from 35,432,499 to 34,707,849). For a complete list of holdings, visit the VPU Holdings page » The chart below shows the one year price performance of VPU, versus its 200 day moving average: Looking at the chart above, VPU's low point in its 52 week range is $118.8064 per share, with $160.71 as the 52 week high point — that compares with a last trade of $137.66. 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 Vanguard Utilities ETF (Symbol: VPU) where we have detected an approximate $99.7 million dollar outflow -- that's a 2.0% decrease week over week (from 35,432,499 to 34,707,849). Among the largest underlying components of VPU, in trading today Sempra (Symbol: SRE) is up about 0.1%, American Electric Power Co Inc (Symbol: AEP) is up about 0.3%, and Exelon Corp (Symbol: EXC) is up by about 0.3%. 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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f8fff54c-b482-4be1-b198-834328aa06cd
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713985.0
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2023-12-07 00:00:00 UTC
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Is Lululemon Athletica (LULU) a Buy Ahead of Q3 Earnings Announcement?
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DCOMP
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https://www.nasdaq.com/articles/is-lululemon-athletica-lulu-a-buy-ahead-of-q3-earnings-announcement
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nan
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nan
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Athletic apparel company Lululemon Athletica LULU is set to report third-quarter earnings results on Thursday after the closing bell. The Vancouver-based company encourages a healthy, fitness-based lifestyle that promotes activities such as yoga, running, and training. Lululemon has surpassed earnings estimates in each of the past 13 quarters; can LULU make it 14 in a row?
Lululemon is expected to deliver a third-quarter profit of $2.27/share, which reflects growth of 13.5% versus the same quarter last year. Revenues are projected to increase 17.8% to $2.19 billion.
The company has posted a trailing four-quarter average earnings surprise of 6.8%. LULU stock is currently a Zacks Rank #3 (Hold). Our proprietary Zacks Earnings ESP predicts another beat for the upcoming earnings announcement.
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Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
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lululemon athletica inc. (LULU) : 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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Athletic apparel company Lululemon Athletica LULU is set to report third-quarter earnings results on Thursday after the closing bell. The Vancouver-based company encourages a healthy, fitness-based lifestyle that promotes activities such as yoga, running, and training. Lululemon is expected to deliver a third-quarter profit of $2.27/share, which reflects growth of 13.5% versus the same quarter last year.
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Athletic apparel company Lululemon Athletica LULU is set to report third-quarter earnings results on Thursday after the closing bell. Click to get this free report lululemon athletica inc. (LULU) : 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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Athletic apparel company Lululemon Athletica LULU is set to report third-quarter earnings results on Thursday after the closing bell. Our proprietary Zacks Earnings ESP predicts another beat for the upcoming earnings announcement. Click to get this free report lululemon athletica inc. (LULU) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Athletic apparel company Lululemon Athletica LULU is set to report third-quarter earnings results on Thursday after the closing bell. Lululemon has surpassed earnings estimates in each of the past 13 quarters; can LULU make it 14 in a row? See Stocks Now >> Want the latest recommendations from Zacks Investment Research?
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157a644b-d4c1-4339-9076-42ddc536956c
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713986.0
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2023-12-07 00:00:00 UTC
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Old Dominion (ODFL) Posts LTL Unit Performance for November
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DCOMP
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https://www.nasdaq.com/articles/old-dominion-odfl-posts-ltl-unit-performance-for-november
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nan
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nan
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Old Dominion Freight Line, Inc. ODFL provided an update on the performance of its less-than-truckload (LTL) segment, which is its primary revenue generator, in November.
Old Dominion's revenue per day fell 0.9% year over year in November 2023, owing to a 2.3% decrease in LTL tons per day, partially offset by an increase in LTL revenue per hundredweight. The downfall in LTL tons per day was attributable to a 2.9% decline in LTL weight per shipment, partially offset by a 0.6% increase in LTL shipments per day.
Quarter to date, ODFL’s LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, jumped 3.1% and 7.6% year over year, respectively.
Marty Freeman, president and chief executive officer of Old Dominion, stated, "The decrease in our November revenue reflects continued softness in the domestic economy. We were pleased, however, to see both the continued improvement in our yield metrics and a slight increase in our LTL shipments per day. We will continue to focus on delivering superior service at a fair price to support our consistent, cost-based approach to yield management. Our ability to execute on this fundamental element of our long-term strategic plan has created an unmatched value proposition in our industry, which we believe will also continue to support our ongoing ability to win long-term market share”.
Zacks Rank and Stocks to Consider
Currently, Old Dominion carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Old Dominion Freight Line, Inc. ODFL provided an update on the performance of its less-than-truckload (LTL) segment, which is its primary revenue generator, in November. Marty Freeman, president and chief executive officer of Old Dominion, stated, "The decrease in our November revenue reflects continued softness in the domestic economy. We will continue to focus on delivering superior service at a fair price to support our consistent, cost-based approach to yield management.
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Old Dominion's revenue per day fell 0.9% year over year in November 2023, owing to a 2.3% decrease in LTL tons per day, partially offset by an increase in LTL revenue per hundredweight. The downfall in LTL tons per day was attributable to a 2.9% decline in LTL weight per shipment, partially offset by a 0.6% increase in LTL shipments per day. Click to get this free report Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Old Dominion's revenue per day fell 0.9% year over year in November 2023, owing to a 2.3% decrease in LTL tons per day, partially offset by an increase in LTL revenue per hundredweight. Zacks Rank and Stocks to Consider Currently, Old Dominion carries a Zacks Rank #3 (Hold). Click to get this free report Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report SkyWest, Inc. (SKYW) : Free Stock Analysis Report Air Canada (ACDVF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Old Dominion's revenue per day fell 0.9% year over year in November 2023, owing to a 2.3% decrease in LTL tons per day, partially offset by an increase in LTL revenue per hundredweight. Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and SkyWest SKYW. Air Canada currently sports a Zacks Rank #1 (Strong Buy).
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6f63b5d5-f8ac-44df-9d79-f3ed410ba9fe
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713987.0
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2023-12-07 00:00:00 UTC
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Alphabet (GOOGL) to Aid Chrome Users With New AI Feature
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DCOMP
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https://www.nasdaq.com/articles/alphabet-googl-to-aid-chrome-users-with-new-ai-feature
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nan
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nan
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Alphabet’s GOOGL Google is leaving no stone unturned to bolster its products and services on the back of generative AI-induced capabilities.
Notably, Google is set to introduce AI-powered “Help me write” feature to Chrome for Desktop use.
Further, this new AI feature will be available in Chrome's autofill popup, providing context on text content rather than relying solely on the prompt.
Moreover, the new feature can adjust its writing style, including "Shorten" or "Elaborate" options, as well as "Casual" or "Formal" options, with fewer options than Docs or Messages.
Alphabet is expected to gain solid traction across Chrome users on the back of its latest move.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Enhancing Google Services With Generative AI
Apart from the latest move, Google is set to add an AI feature called "Help me create a list" to its Keep Notes app for Android, assisting users in generating lists for various tasks, including planning, packing, grocery shopping, and task completion.
Further, Google introduced AI-powered features to YouTube, including Dream Screen for seamless video backgrounds, production tools for quick editing, and YouTube Create, a mobile app for AI-enabled video production.
We believe that all the above-mentioned endeavors will likely strengthen Alphabet’s presence in the booming generative AI space.
Per a Fortune Business Insights report, the global generative AI market size is expected to reach $667.96 billion by 2030, witnessing a CAGR of 47.5% between 2023 and 2030.
Strength in the promising generative AI market will likely aid the company in instilling investors’ optimism in the stock.
Alphabet has gained 55.2% on a year-to-date basis compared with the industry’s rise of 54.7%.
Moreover, the aforementioned launches are expected to aid the Google Services segment’s performance, which constitutes the majority of total revenues.
In third-quarter 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of total revenues.
Our model projects fourth-quarter 2023 Google Services revenues at $72.79 billion, indicating growth of 7.3% from 2022.
Competition Scenario
We note that this announcement will allow this Zacks Rank #3 (Hold) to compete well with some notable industry peers like Microsoft MSFT, Adobe ADBE, and Meta Platforms META, who are also expanding themselves in the generative AI space.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, Microsoft announced OpenAI's DALL-E 3 AI image-synthesis model, fully integrated with ChatGPT, which challenges previous models by rendering images with complex descriptions and handling in-image text generation.
In addition, Microsoft’s integration of OpenAI’s next-generation large language model — GPT-4 — into its search engine Bing and browser Edge to deliver a ChatGPT-like experience to users remains noteworthy.
Meanwhile, Adobe launched Photoshop for the web, incorporating Firefly-powered AI tools like generative fill and generative expand, leveraging generative AI capabilities into its products.
Further, Adobe introduced new Firefly Models, including Image 2 and Vector, to improve imaging creative control and quality, enabling instant template design in Adobe Express.
Meta Platforms, on the other hand, launched an open-source AI tool called "AudioCraft," which can generate music and audio based on text prompts using three models.
Further, its release of CM3leon, a multimodal model that performs both text-to-image and image-to-text generation, is a notable addition to the generative AI space.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Per a Fortune Business Insights report, the global generative AI market size is expected to reach $667.96 billion by 2030, witnessing a CAGR of 47.5% between 2023 and 2030. In addition, Microsoft’s integration of OpenAI’s next-generation large language model — GPT-4 — into its search engine Bing and browser Edge to deliver a ChatGPT-like experience to users remains noteworthy. Meta Platforms, on the other hand, launched an open-source AI tool called "AudioCraft," which can generate music and audio based on text prompts using three models.
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Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Enhancing Google Services With Generative AI Apart from the latest move, Google is set to add an AI feature called "Help me create a list" to its Keep Notes app for Android, assisting users in generating lists for various tasks, including planning, packing, grocery shopping, and task completion. Competition Scenario We note that this announcement will allow this Zacks Rank #3 (Hold) to compete well with some notable industry peers like Microsoft MSFT, Adobe ADBE, and Meta Platforms META, who are also expanding themselves in the generative AI space. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Enhancing Google Services With Generative AI Apart from the latest move, Google is set to add an AI feature called "Help me create a list" to its Keep Notes app for Android, assisting users in generating lists for various tasks, including planning, packing, grocery shopping, and task completion. Meanwhile, Adobe launched Photoshop for the web, incorporating Firefly-powered AI tools like generative fill and generative expand, leveraging generative AI capabilities into its products. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Notably, Google is set to introduce AI-powered “Help me write” feature to Chrome for Desktop use. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Notably, Microsoft announced OpenAI's DALL-E 3 AI image-synthesis model, fully integrated with ChatGPT, which challenges previous models by rendering images with complex descriptions and handling in-image text generation.
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921c1acc-753a-4a8c-a3c3-88e323aef4b7
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713988.0
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2023-12-07 00:00:00 UTC
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Comerica (CMA) Reports Decline in Average Loans & Deposits
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DCOMP
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https://www.nasdaq.com/articles/comerica-cma-reports-decline-in-average-loans-deposits
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nan
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nan
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Comerica Incorporated CMA provided an update on its fourth-quarter guidance at a recent investor conference.
From the start of the quarter through Nov 30, average loans aggregated $53 billion, down from $54 billion as of the third-quarter end. This decline was primarily attributed to mortgage banker, equity funds services, corporate banking and middle market, while increases in commercial real estate and national dealer services offset the declines to some extent.
Due to increased selectivity, CMA expects lower average loan balances than the prior fourth-quarter guidance of a sequential decline of 1%.
Similarly, from the start of the quarter through Nov 30, average deposits aggregated $65.8 billion, down from $65.9 billion as of the third-quarter end. The company saw a $1-billion increase in interest-bearing deposits, while non-interest-bearing deposits decreased by the same amount. Also, an increase in middle-market lending, retail and TLS was offset by a decline in brokered CDs and mortgage banker finance.
Relative to the third quarter, the average deposit balance is anticipated to be in the higher end of flat to down 1%.
Nonetheless, the company has reiterated its net interest income (NII) projections and expects the same to decline 5-6% sequentially.
We remain optimistic about Comerica’s income-generation capability, given its loan growth. The metric witnessed a five-year compound annual growth rate (CAGR) of 0.9% (ended 2022), with the momentum continuing in the first nine months of 2023. Given the decent loan pipeline, a similar trend is expected to continue in the near term. Management expects average loans to grow 7% in 2023.
Improvement in Comerica’s NII over the years has supported top-line growth. The metric witnessed a three-year CAGR of 13.6% (ended 2022), with the rising trend persisting in the first nine months of 2023. With expectations of the Federal Reserve keeping interest rates high in the near term, NII and net interest margin are expected to continue witnessing growth, while a rise in funding costs will weigh on both. NII is anticipated to increase 1-2%, reflecting the impacts of loan growth, partially offset by the impacts of higher funding costs.
The bank expects $109 million in FDIC special assessment in fourth-quarter 2023. With this, non-interest expenses are forecast to rise 3%. Also, management expects expenses to rise 11% in 2023. Such rising costs are likely to hinder bottom-line growth in the upcoming quarters.
Shares of this Zacks Rank #3 (Hold) bank have gained 1.9% in the past three months compared with the industry’s growth of 9.4%.
Image Source: Zacks Investment Research
Bank Stocks Worth a Look
A couple of better-ranked stocks from the banking space are JPMorgan Chase & Co. JPM and Park National Corporation PRK, currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
JPM’s earnings estimates for 2023 have been revised 4.9% upward over the past 60 days. In the past three months, its shares have gained 8%.
The Zacks Consensus Estimate for PRK’s current-year earnings has been revised 6.2% upward over the past 30 days. Its shares have gained 15.7% in the past three months.
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Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
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JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Comerica Incorporated (CMA) : Free Stock Analysis Report
Park National Corporation (PRK) : 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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Due to increased selectivity, CMA expects lower average loan balances than the prior fourth-quarter guidance of a sequential decline of 1%. Also, an increase in middle-market lending, retail and TLS was offset by a decline in brokered CDs and mortgage banker finance. The metric witnessed a five-year compound annual growth rate (CAGR) of 0.9% (ended 2022), with the momentum continuing in the first nine months of 2023.
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NII is anticipated to increase 1-2%, reflecting the impacts of loan growth, partially offset by the impacts of higher funding costs. Image Source: Zacks Investment Research Bank Stocks Worth a Look A couple of better-ranked stocks from the banking space are JPMorgan Chase & Co. JPM and Park National Corporation PRK, currently sporting a Zacks Rank #1 (Strong Buy). Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Comerica Incorporated (CMA) : Free Stock Analysis Report Park National Corporation (PRK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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With expectations of the Federal Reserve keeping interest rates high in the near term, NII and net interest margin are expected to continue witnessing growth, while a rise in funding costs will weigh on both. Image Source: Zacks Investment Research Bank Stocks Worth a Look A couple of better-ranked stocks from the banking space are JPMorgan Chase & Co. JPM and Park National Corporation PRK, currently sporting a Zacks Rank #1 (Strong Buy). Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Comerica Incorporated (CMA) : Free Stock Analysis Report Park National Corporation (PRK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This decline was primarily attributed to mortgage banker, equity funds services, corporate banking and middle market, while increases in commercial real estate and national dealer services offset the declines to some extent. Due to increased selectivity, CMA expects lower average loan balances than the prior fourth-quarter guidance of a sequential decline of 1%. Image Source: Zacks Investment Research Bank Stocks Worth a Look A couple of better-ranked stocks from the banking space are JPMorgan Chase & Co. JPM and Park National Corporation PRK, currently sporting a Zacks Rank #1 (Strong Buy).
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65ac8f4e-568c-4cce-842c-0dc8dad32c31
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713989.0
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2023-12-07 00:00:00 UTC
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Century (IPSC) Up 36% on FDA Nod to Begin Phase I Lupus Study
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DCOMP
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https://www.nasdaq.com/articles/century-ipsc-up-36-on-fda-nod-to-begin-phase-i-lupus-study
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Century Therapeutics IPSC announced FDA clearance of its investigational new drug (IND) application for CNTY-101 for an autoimmune and inflammatory disease indication. This IND clearance allows IPSC to initiate an early-stage study to assess the drug in patients with moderate to severe systemic lupus erythematosus (SLE), who have failed at least two standard immunosuppressive therapies.
Century expects to initiate the early-stage study of CNTY-101 in SLE in the first half of 2024. Initial data readout from the phase I study is anticipated by 2024-end.
The planned phase I study will evaluate safety, tolerability, pharmacokinetics, and clinical response of CNTY-101 in. The study will administer one to two cycles of three weekly doses of CNTY-101 in the enrolled patient population.
The stock rallied 36.1% in the last trading session as investors cheered the regulatory update for CNTY-101. Year to date, shares of Century have plunged 58.1% compared with the industry’s 9.1% decline.
Image Source: Zacks Investment Research
Century’s lead drug, CNTY-101, is anallogeneic, off-the-shelf iPSC-derived CD19-targeted CAR NK cell therapy product candidate. It is developed using IPSC’s proprietary gene-editing technology, Allo-Evasion. CNTY-101 is the first cell therapy product candidate engineered with six precision gene edits.
IND clearance for treatment of SLE marks the second IND clearance for CNTY-101 and the first in an autoimmune and inflammatory disease indication.
Century had previously received IND clearance for CNTY-101 for treatment of relapsed/refractory B-cell malignancies. A phase I ELiPSE-1 study is currently evaluating CNTY-101 in patients with relapsed or refractory CD19-positive B-cell lymphomas.
Per Century, currently available SLE therapies lack efficacy. New B-cell-directed autologous CAR T cell treatment options have demonstrated efficacy inducing durable remissions.
IPSC looks to quench the unmet medical need with CNTY-101 which has a novel mechanism of action that could provide multiple potential treatment advantages.
Century Therapeutics, Inc. Price and Consensus
Century Therapeutics, Inc. price-consensus-chart | Century Therapeutics, Inc. Quote
Zacks Rank and Stocks to Consider
Century currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth mentioning are Puma Biotechnology, Inc. PBYI, ADMA Biologics ADMA and Agenus AGEN. While PBYI sports a Zacks Rank #1 (Strong Buy), ADMA and AGEN carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, the Zacks Consensus Estimate for Puma Biotech’s 2023 earnings per share has remained constant at 72 cents. During the same time frame, the consensus estimate for Puma Biotech’s 2024 earnings per share has increased from 62 cents to 64 cents. Year to date, shares of PBYI have lost 7.8%.
PBYI’s earnings beat estimates in three of the last four quarters while missing on one occasion, delivering a four-quarter average earnings surprise of 76.55%.
In the past 30 days, the Zacks Consensus Estimate for ADMA Biologics’ 2023 loss per share has narrowed from 6 cents to 3 cents. The consensus estimate for ADMA Biologics’ 2024 earnings per share is pegged at 16 cents. Year to date, shares of ADMA have lost 1.5%.
ADMA beat estimates in three of the trailing four quarters and matched in one, delivering an average earnings surprise of 63.57%.
In the past 30 days, the Zacks Consensus Estimate for Agenus’ 2023 loss per share has narrowed from 77 cents to 63 cents. During the same time frame, the consensus estimate for Agenus’ 2024 loss per share has narrowed from 70 cents to 45 cents. Year to date, shares of AGEN have plunged 67.4%.
AGEN beat estimates in one of the trailing four quarters, matching in one and missing the mark on the other two occasions, delivering an average earnings surprise of 0.49%.
Only $1 to See All Zacks' Buys and Sells
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Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Agenus Inc. (AGEN) : Free Stock Analysis Report
Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report
ADMA Biologics Inc (ADMA) : Free Stock Analysis Report
Century Therapeutics, Inc. (IPSC) : 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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Century Therapeutics IPSC announced FDA clearance of its investigational new drug (IND) application for CNTY-101 for an autoimmune and inflammatory disease indication. This IND clearance allows IPSC to initiate an early-stage study to assess the drug in patients with moderate to severe systemic lupus erythematosus (SLE), who have failed at least two standard immunosuppressive therapies. Image Source: Zacks Investment Research Century’s lead drug, CNTY-101, is anallogeneic, off-the-shelf iPSC-derived CD19-targeted CAR NK cell therapy product candidate.
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Century Therapeutics, Inc. Price and Consensus Century Therapeutics, Inc. price-consensus-chart | Century Therapeutics, Inc. Quote Zacks Rank and Stocks to Consider Century currently carries a Zacks Rank #3 (Hold). In the past 30 days, the Zacks Consensus Estimate for ADMA Biologics’ 2023 loss per share has narrowed from 6 cents to 3 cents. Click to get this free report Agenus Inc. (AGEN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Century Therapeutics, Inc. (IPSC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Century Therapeutics, Inc. Price and Consensus Century Therapeutics, Inc. price-consensus-chart | Century Therapeutics, Inc. Quote Zacks Rank and Stocks to Consider Century currently carries a Zacks Rank #3 (Hold). In the past 30 days, the Zacks Consensus Estimate for ADMA Biologics’ 2023 loss per share has narrowed from 6 cents to 3 cents. Click to get this free report Agenus Inc. (AGEN) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Century Therapeutics, Inc. (IPSC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Century’s lead drug, CNTY-101, is anallogeneic, off-the-shelf iPSC-derived CD19-targeted CAR NK cell therapy product candidate. Century Therapeutics, Inc. Price and Consensus Century Therapeutics, Inc. price-consensus-chart | Century Therapeutics, Inc. Quote Zacks Rank and Stocks to Consider Century currently carries a Zacks Rank #3 (Hold). The consensus estimate for ADMA Biologics’ 2024 earnings per share is pegged at 16 cents.
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a1f683e5-48ce-4c60-9f82-1c3f1159aa6f
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713990.0
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2023-12-07 00:00:00 UTC
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Noteworthy ETF Outflows: SMH, TSM, ASML, KLAC
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-smh-tsm-asml-klac
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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 Semiconductor ETF (Symbol: SMH) where we have detected an approximate $590.6 million dollar outflow -- that's a 5.4% decrease week over week (from 69,191,874 to 65,441,874). Among the largest underlying components of SMH, in trading today Taiwan Semiconductor Manufacturing Co., Ltd. (Symbol: TSM) is up about 1.1%, ASML Holding NV (Symbol: ASML) is up about 0.8%, and KLA Corp (Symbol: KLAC) is higher by about 1.5%. For a complete list of holdings, visit the SMH Holdings page » The chart below shows the one year price performance of SMH, versus its 200 day moving average:
Looking at the chart above, SMH's low point in its 52 week range is $98.2675 per share, with $165.44 as the 52 week high point — that compares with a last trade of $159.75. 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 experienced notable outflows »
Also see:
WNS Average Annual Return
ALRS Split History
Funds Holding UPWK
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: WNS Average Annual Return ALRS Split History Funds Holding UPWK 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 SMH, in trading today Taiwan Semiconductor Manufacturing Co., Ltd. (Symbol: TSM) is up about 1.1%, ASML Holding NV (Symbol: ASML) is up about 0.8%, and KLA Corp (Symbol: KLAC) is higher by about 1.5%. For a complete list of holdings, visit the SMH Holdings page » The chart below shows the one year price performance of SMH, versus its 200 day moving average: Looking at the chart above, SMH's low point in its 52 week range is $98.2675 per share, with $165.44 as the 52 week high point — that compares with a last trade of $159.75. 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).
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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 Semiconductor ETF (Symbol: SMH) where we have detected an approximate $590.6 million dollar outflow -- that's a 5.4% decrease week over week (from 69,191,874 to 65,441,874). For a complete list of holdings, visit the SMH Holdings page » The chart below shows the one year price performance of SMH, versus its 200 day moving average: Looking at the chart above, SMH's low point in its 52 week range is $98.2675 per share, with $165.44 as the 52 week high point — that compares with a last trade of $159.75. 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 Semiconductor ETF (Symbol: SMH) where we have detected an approximate $590.6 million dollar outflow -- that's a 5.4% decrease week over week (from 69,191,874 to 65,441,874). Among the largest underlying components of SMH, in trading today Taiwan Semiconductor Manufacturing Co., Ltd. (Symbol: TSM) is up about 1.1%, ASML Holding NV (Symbol: ASML) is up about 0.8%, and KLA Corp (Symbol: KLAC) is higher by about 1.5%. 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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40bd5820-f75f-473a-aabe-b127e777d37f
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713991.0
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2023-12-07 00:00:00 UTC
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VIG, UNH, JPM, ABT: ETF Inflow Alert
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DCOMP
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https://www.nasdaq.com/articles/vig-unh-jpm-abt%3A-etf-inflow-alert
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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 Vanguard Dividend Appreciation ETF (Symbol: VIG) where we have detected an approximate $619.0 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 428,308,525 to 432,067,546). Among the largest underlying components of VIG, in trading today UnitedHealth Group Inc (Symbol: UNH) is off about 0.5%, JPMorgan Chase & Co (Symbol: JPM) is up about 0.5%, and Abbott Laboratories (Symbol: ABT) is lower by about 0.4%. For a complete list of holdings, visit the VIG Holdings page » The chart below shows the one year price performance of VIG, versus its 200 day moving average:
Looking at the chart above, VIG's low point in its 52 week range is $146.17 per share, with $167.33 as the 52 week high point — that compares with a last trade of $165.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
CEW shares outstanding history
La-Z-Boy Historical PE Ratio
GRMN shares outstanding 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 had notable inflows » Also see: CEW shares outstanding history La-Z-Boy Historical PE Ratio GRMN shares outstanding 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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Among the largest underlying components of VIG, in trading today UnitedHealth Group Inc (Symbol: UNH) is off about 0.5%, JPMorgan Chase & Co (Symbol: JPM) is up about 0.5%, and Abbott Laboratories (Symbol: ABT) is lower by about 0.4%. For a complete list of holdings, visit the VIG Holdings page » The chart below shows the one year price performance of VIG, versus its 200 day moving average: Looking at the chart above, VIG's low point in its 52 week range is $146.17 per share, with $167.33 as the 52 week high point — that compares with a last trade of $165.12. Click here to find out which 9 other ETFs had notable inflows » Also see: CEW shares outstanding history La-Z-Boy Historical PE Ratio GRMN shares outstanding 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 Vanguard Dividend Appreciation ETF (Symbol: VIG) where we have detected an approximate $619.0 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 428,308,525 to 432,067,546). For a complete list of holdings, visit the VIG Holdings page » The chart below shows the one year price performance of VIG, versus its 200 day moving average: Looking at the chart above, VIG's low point in its 52 week range is $146.17 per share, with $167.33 as the 52 week high point — that compares with a last trade of $165.12. 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).
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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 Vanguard Dividend Appreciation ETF (Symbol: VIG) where we have detected an approximate $619.0 million dollar inflow -- that's a 0.9% increase week over week in outstanding units (from 428,308,525 to 432,067,546). For a complete list of holdings, visit the VIG Holdings page » The chart below shows the one year price performance of VIG, versus its 200 day moving average: Looking at the chart above, VIG's low point in its 52 week range is $146.17 per share, with $167.33 as the 52 week high point — that compares with a last trade of $165.12. 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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b18d3376-d61c-47dc-b4a1-a33fa6bbadf8
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713992.0
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2023-12-07 00:00:00 UTC
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ExxonMobil (XOM) Expects Raised Earnings & Oil Production
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DCOMP
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https://www.nasdaq.com/articles/exxonmobil-xom-expects-raised-earnings-oil-production
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Exxon Mobil Corporation XOM has revealed plans for increased earnings and production expansion.
Earnings
ExxonMobil expects a substantial rise in its earnings potential through 2027, with upstream earnings projected to more than double from the 2019 reported level. The outlook is underpinned by robust production growth in the Permian Basin and Guyana.
XOM mentioned that effective implementation of its strategic initiatives since 2019 enhanced its earnings capacity, contributing about $10 billion to its annual earnings and cash flow at a real Brent price of $60 per barrel. The company is progressing toward achieving an additional $14 billion in earnings and cash flow growth potential over the next four years.
Capital Spending
ExxonMobil expects an annual total of $23-$25 billion in capital expenditure and exploration expenses. The company aims to allocate $22-$27 billion annually to project spending through 2027. Additionally, there are plans to increase spending on emerging lithium and low-carbon ventures by 18% over this period.
The expenditure forecast involves a heightened commitment to its energy transition division, known as Low Carbon Solutions. The budget for Low Carbon Solutions is set to increase from $17 billion to $20 billion from 2022 to 2027. However, it is important to note that this increased spending will be contingent on government support.
Share Buyback
ExxonMobil plans to raise its annual share buybacks to $20 billion through 2025, up from the current $17.5 billion, following the completion of the Pioneer merger. The company will also persist in its ongoing divestment strategy for its refining operations.
Production
The company predicts a production increase to 3.8 million barrels of oil equivalent per day (Boe/d) in 2024, up from this year’s 3.7 million Boe/d, as it places its confidence in growth from the Permian shale basin and Guyana.
XOM indicated that it anticipates maintaining a flat production until the end of this year, standing at 3.7 million Boe/d primarily due to its withdrawal from Russia.
Emission Targets
ExxonMobil has reported progress in its efforts to achieve a 40-50% reduction in upstream-operated greenhouse gas emissions intensity by 2030 from the 2016 reported level. The company has already accomplished half of this reduction target.
Additionally, ExxonMobil is pursuing more than $20 billion worth of lower-emission opportunities until 2027. These opportunities encompass various areas, such as lithium, hydrogen, biofuels, and carbon capture and storage.
Zacks Rank & Stocks to Consider
ExxonMobil currently carries a Zack Rank #3 (Hold).
Investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
EOG Resources EOG boasts an appealing growth profile, delivers upper-quartile returns and is guided by a disciplined management team.
EOG Resources has a strong focus on returning capital to shareholders. From 1999 through 2024, the company is committed to raising its regular dividend at a compound annual growth rate of 21%. EOG has never suspended or lowered its dividend, even during business turmoil, reflecting solid underlying business.
Liberty Energy LBRT offers hydraulic fracturing services to onshore upstream energy companies across multiple basins in North America.
Liberty’s board of directors announced a cash dividend of seven cents per common share, payable Dec 20, 2023, to stockholders of record as of Dec 6, 2023. This dividend reflects a 40% rise from the previous quarter’s level. As part of its shareholder return policy, LBRT repurchased shares worth $29 million at an average price of $16.38 per share.
PBF Energy Inc. PBF has one of the most complex refining systems in the United States, boasting a high Nelson Complexity Index of 12.7.
Compared with composite stocks belonging to the industry, the company’s debt-to-capitalization ratio has been consistently lower over the past few years. PBF boasts a robust liquidity position, with a cash balance of $1.9 billion, which is more than sufficient to cover its long-term debt of $1.2 billion.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
Liberty Energy Inc. (LBRT) : 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 company is progressing toward achieving an additional $14 billion in earnings and cash flow growth potential over the next four years. XOM indicated that it anticipates maintaining a flat production until the end of this year, standing at 3.7 million Boe/d primarily due to its withdrawal from Russia. Compared with composite stocks belonging to the industry, the company’s debt-to-capitalization ratio has been consistently lower over the past few years.
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Capital Spending ExxonMobil expects an annual total of $23-$25 billion in capital expenditure and exploration expenses. Share Buyback ExxonMobil plans to raise its annual share buybacks to $20 billion through 2025, up from the current $17.5 billion, following the completion of the Pioneer merger. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Share Buyback ExxonMobil plans to raise its annual share buybacks to $20 billion through 2025, up from the current $17.5 billion, following the completion of the Pioneer merger. Production The company predicts a production increase to 3.8 million barrels of oil equivalent per day (Boe/d) in 2024, up from this year’s 3.7 million Boe/d, as it places its confidence in growth from the Permian shale basin and Guyana. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report EOG Resources, Inc. (EOG) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Exxon Mobil Corporation XOM has revealed plans for increased earnings and production expansion. The company is progressing toward achieving an additional $14 billion in earnings and cash flow growth potential over the next four years. Production The company predicts a production increase to 3.8 million barrels of oil equivalent per day (Boe/d) in 2024, up from this year’s 3.7 million Boe/d, as it places its confidence in growth from the Permian shale basin and Guyana.
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5c0d4c77-a413-4509-8179-7ab1376c61b5
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713993.0
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2023-12-07 00:00:00 UTC
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Solid as a Rock: 3 Blue-Chip Stocks for a Stable Portfolio
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DCOMP
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https://www.nasdaq.com/articles/solid-as-a-rock%3A-3-blue-chip-stocks-for-a-stable-portfolio
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s understandable if you have whiplash from market moves this year. We’ve seen stocks surge, fall and surge again on the heels of the current Santa rally. But, though investors are flocking to small-caps and growth stocks, blue-chip stocks might be the best bet for your portfolio.
We aren’t out of the woods economically. Not by a long shot. And it’ll just take one bad catalyst to push speculative stocks back into the gutter. To that end, you should be looking for opportunities to snag undervalued stocks that represent stability and maturity. In other words, you’re looking at these three blue-chip stocks to buy as the best bet to position yourself for a solid 2024.
AT&T (T)
Source: Roman Tiraspolsky / Shutterstock.com
AT&T (NYSE:T) is the quintessential blue-chip stock. Though the company dipped this summer on the heels of the lead shielding debacle, shares are rebounding as the issue appears far less serious than initially thought. In the meantime, shares remain undervalued at about 10% below their early-2023 pricing, meaning there’s still time to ride the blue-chip stock back to the top.
Though blue-chip stocks in general, and utilities specifically, usually lack innovation that growth stocks exhibit, AT&T stands in stark contrast. This week, the company announced a new network expansion to save money and improve user experience. The emerging tech will service 70% of AT&T’s U.S. wireless traffic by 2026. Willingness to expand is a hallmark of stable blue-chip stocks, as many are often rewarded for playing it safe. But AT&T is willing to go out on a limb, as also evidenced by its recent partnership with AST SpaceMobile (NASDAQ:ASTS) to explore low-earth satellite communications.
Of course, another hallmark of blue-chip stocks is their dividend yield, and AT&T meets this mark and then some. Its current dividend yield is 6.62%, combined with a 55% payout ratio, which means stability and income opportunity for investors.
Medtronic (MDT)
Source: JHVEPhoto / Shutterstock.com
It’s hard to beat tech or healthcare stocks if you invest for the long haul. Luckily, Medtronic (NYSE:MDT) combines both with a blue-chip sensibility that’s hard to beat. The company posted a few rocky quarters amid the pandemic.
The poor performance mostly came from slowed elective and non-emergent surgery rates, but as that front stabilizes, Medtronic is posting a rapid turnaround. Its most recent earnings report saw Medtronic’s revenue climb 5% year-over-year, and management pushed its annual forecast higher.
Medtronic stands at a unique intersection between healthcare (an ever-growing industry) and tech. The company is collaborating with Nvidia (NASDAQ:NVDA), for example, to develop next-gen, AI-enabled diagnostic tools. Like AT&T, this willingness to innovate bodes well for Medtronic’s future while it retains blue-chip maturity and status.
Medtronic offers a 3.66% total yield, and shares remain undervalued by nearly every measure despite a recent resurgence.
RTX (RTX)
Source: JHVEPhoto / Shutterstock.com
RTX (NYSE:RTX) is another blue-chip winner that saw some turbulence before mounting a comeback in recent months. Shares remain 17% down year-to-date but have bounced more than 15% since October, indicating its current run still has legs.
The company’s recent earnings sparked renewed enthusiasm as management reported expectation-beating top and bottom line numbers. The firm also announced a massive $10 billion buyback program that gave shareholders much to be happy about alongside the current 2.82% dividend yield.
The company seems to be beyond past troubles with engine coating contamination. The firm did a whirlwind global tour to examine, diagnose, and repair airplane engine issues resulting from the contamination. Investors rightfully feared that costs could spiral out of control if the issue proved more prevalent than initially thought.
But, in the recent call, company management assured investors there wouldn’t be unforeseen expenses. CEO Greg Hayes told investors, “We have made significant progress on our assessment of the Pratt & Whitney powder metal manufacturing matter and expect the financial impact to be in line with the previously disclosed charge.” This means there won’t be as much uncertainty surrounding RTX’s prospects, boding well for this blue-chip stock.
On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy’s work can also be found at www.jeremyflint.work.
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The post Solid as a Rock: 3 Blue-Chip Stocks for a Stable Portfolio 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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CEO Greg Hayes told investors, “We have made significant progress on our assessment of the Pratt & Whitney powder metal manufacturing matter and expect the financial impact to be in line with the previously disclosed charge.” This means there won’t be as much uncertainty surrounding RTX’s prospects, boding well for this blue-chip stock. Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. 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 Solid as a Rock: 3 Blue-Chip Stocks for a Stable Portfolio appeared first on InvestorPlace.
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Medtronic (MDT) Source: JHVEPhoto / Shutterstock.com It’s hard to beat tech or healthcare stocks if you invest for the long haul. Source: JHVEPhoto / Shutterstock.com RTX (NYSE:RTX) is another blue-chip winner that saw some turbulence before mounting a comeback in recent months. 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 Solid as a Rock: 3 Blue-Chip Stocks for a Stable Portfolio appeared first on InvestorPlace.
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But, though investors are flocking to small-caps and growth stocks, blue-chip stocks might be the best bet for your portfolio. Though blue-chip stocks in general, and utilities specifically, usually lack innovation that growth stocks exhibit, AT&T stands in stark contrast. 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 Solid as a Rock: 3 Blue-Chip Stocks for a Stable Portfolio appeared first on InvestorPlace.
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In the meantime, shares remain undervalued at about 10% below their early-2023 pricing, meaning there’s still time to ride the blue-chip stock back to the top. Medtronic (MDT) Source: JHVEPhoto / Shutterstock.com It’s hard to beat tech or healthcare stocks if you invest for the long haul. 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 Solid as a Rock: 3 Blue-Chip Stocks for a Stable Portfolio appeared first on InvestorPlace.
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2023-12-07 00:00:00 UTC
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Analyzing Affirm (AFRM) Stock: Is Buy Strategy the Right Move?
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https://www.nasdaq.com/articles/analyzing-affirm-afrm-stock%3A-is-buy-strategy-the-right-move
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Affirm Holdings, Inc. AFRM exhibits strong growth potential, driven by increasing active merchant numbers, a flourishing buy now, pay later (BNPL) landscape and a rising Gross Merchandise Volume (“GMV”). The company's robust transaction volumes and interest income contribute significantly to its positive outlook. The stock has experienced an impressive 70.9% surge in the past three months, surpassing the industryaverage of 2.6%.
Affirm — with a market cap of almost $11.6 billion — is a platform for digital and mobile-first commerce that offers financial products. With promising prospects and a Zacks Rank #2 (Buy), this stock presents an attractive investment opportunity for your portfolio now.
Let’s delve deeper.
The Zacks Consensus Estimate for AFRM’s current-year earnings indicates a 111.7% year-over-year improvement. The stock has witnessed three upward estimate revisions in the past 30 days against none in the opposite direction. Affirm beat on earnings in two of the last four quarters and missed twice. This is depicted in the graph below.
Affirm Holdings, Inc. Price and EPS Surprise
Affirm Holdings, Inc. price-eps-surprise | Affirm Holdings, Inc. Quote
The company anticipates reaching a notable milestone by achieving full fiscal year 2024 profitability on an adjusted operating income basis. The adjusted operating margin is anticipated to be more than 5% for fiscal year 2024, marking a massive improvement from a year ago.
Fiscal year 2024 revenues, as a percentage of GMV, are expected to align closely with the fiscal 2023 level of 7.9%. The consensus mark for current-year revenues is pegged at nearly $2 billion, suggesting a 25.4% rise from the prior year’s reported number. The expected growth will be supported by increasing GMV and transaction volumes. Management is optimistic about achieving a fiscal 2024 GMV surpassing $24.25 billion, signifying notable growth from the previous year's $20.2 billion.
A report on BNPL trends from Adobe Analytics showed that in November, purchases made with BNPL services have fueled online spending. The deferred payment financial service is playing a major role in consumer spending resilience observed in recent times. AFRM is expected to continue riding this momentum in the coming days.
Consistent and disciplined performance in recent quarters has become a catalyst for Affirm's network growth. Per the Zacks Consensus Estimate, AFRM is poised for robust 14.8% year-over-year growth in merchant network revenues for the current year. Additionally, the consensus projection for card network revenues in the same period anticipates a significant 12.7% increase compared to the previous year. These positive estimates underscore the company's ability to capitalize on its operational strengths and market positioning.
Affirm continues to reap the rewards of a high interest environment, contributing to its positive top-line performance. In the preceding year, the interest income metric surged by an impressive 29.8%, reaching $685.2 million. The Zacks Consensus Estimate for the current year reinforces this trend, indicating a 53% year-over-year upswing in interest income.
Key Risks
However, there are a few factors that investors should keep an eye on. Growing competition in the BNPL sector and higher funding costs, driven by factors like high interest rates and limited consumer loan demand in the secondary market, pose challenges to Affirm's growth. Nevertheless, we believe that a systematic and strategic plan of action will drive its performance in the long term.
Other Key Picks in Business Services
Some other top-ranked stocks in the broader Business Services space are FirstCash Holdings, Inc. FCFS, Shift4 Payments, Inc. FOUR and RB Global, Inc. RBA. While FirstCash and Shift4 Payments each currently sport a Zacks Rank #1 (Strong Buy), RB Global carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FirstCash’s current year bottom line indicates 13.1% year-over-year growth. Headquartered in Fort Worth, TX, FCFS beat earnings estimates in all the past four quarters, with an average surprise of 7.9%.
The Zacks Consensus Estimate for Shift4 Payments’ current year earnings is pegged at $2.92 per share, which calls for 110.1% year-over-year growth. Allentown, PA-based FOUR beat earnings estimates in all the past four quarters, with an average surprise of 25%.
The Zacks Consensus Estimate for RB Global’s current year bottom line suggests 12.5% year-over-year growth. Based in Westchester, IL, RBA beat earnings estimates in each of the past four quarters, with an average surprise of 18.9%.
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FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report
RB Global, Inc. (RBA) : Free Stock Analysis Report
Shift4 Payments, Inc. (FOUR) : Free Stock Analysis Report
Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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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Affirm Holdings, Inc. AFRM exhibits strong growth potential, driven by increasing active merchant numbers, a flourishing buy now, pay later (BNPL) landscape and a rising Gross Merchandise Volume (“GMV”). The deferred payment financial service is playing a major role in consumer spending resilience observed in recent times. Growing competition in the BNPL sector and higher funding costs, driven by factors like high interest rates and limited consumer loan demand in the secondary market, pose challenges to Affirm's growth.
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Affirm Holdings, Inc. Price and EPS Surprise Affirm Holdings, Inc. price-eps-surprise | Affirm Holdings, Inc. Quote The company anticipates reaching a notable milestone by achieving full fiscal year 2024 profitability on an adjusted operating income basis. The Zacks Consensus Estimate for RB Global’s current year bottom line suggests 12.5% year-over-year growth. Click to get this free report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report RB Global, Inc. (RBA) : Free Stock Analysis Report Shift4 Payments, Inc. (FOUR) : Free Stock Analysis Report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Affirm Holdings, Inc. Price and EPS Surprise Affirm Holdings, Inc. price-eps-surprise | Affirm Holdings, Inc. Quote The company anticipates reaching a notable milestone by achieving full fiscal year 2024 profitability on an adjusted operating income basis. Per the Zacks Consensus Estimate, AFRM is poised for robust 14.8% year-over-year growth in merchant network revenues for the current year. Click to get this free report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report RB Global, Inc. (RBA) : Free Stock Analysis Report Shift4 Payments, Inc. (FOUR) : Free Stock Analysis Report Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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With promising prospects and a Zacks Rank #2 (Buy), this stock presents an attractive investment opportunity for your portfolio now. The Zacks Consensus Estimate for AFRM’s current-year earnings indicates a 111.7% year-over-year improvement. Per the Zacks Consensus Estimate, AFRM is poised for robust 14.8% year-over-year growth in merchant network revenues for the current year.
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713995.0
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2023-12-07 00:00:00 UTC
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Byline (BY) Rewards Shareholders With New Repurchase Plan
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https://www.nasdaq.com/articles/byline-by-rewards-shareholders-with-new-repurchase-plan
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Byline Bancorp, Inc. BY announced a new share repurchase plan. The company’s board of directors has authorized the repurchase of up to 1.25 million shares. The program will commence on Jan 1, 2024, and expire on Dec 31, 2024.
The repurchase authorization represents 2.9% of Byline’s outstanding common stock.
Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.”
The company has been rewarding shareholders through efficient capital distribution activities, including share repurchases and dividend payments.
On Dec 12, 2022, BY's board of directors approved a share repurchase program authorizing the company to buy back up to 1.25 million shares, starting Jan 1, 2023, until Dec 31, 2023.
Since the company did not repurchase any shares under the plan during the nine months ended Sep 30, 2023, the entire authorization remained available for repurchase at the end of the third quarter of 2023.
Also, the company has been paying regular quarterly dividends. A cash dividend of 9 cents per share was paid out on Nov 21, 2023, to stockholders of record as of Nov 7, 2023.
BY has a payout ratio of 13% and announced two dividend hikes in the last five years.
The company's new share buyback plan, along with the payment of regular quarterly dividends, makes it an attractive choice for investors. Through efficient capital distributions, BY is expected to continue to enhance shareholder value.
Over the past six months, shares of Byline have gained 11.2% compared with 6.3% growth of the industry it belongs to.
Image Source: Zacks Investment Research
Currently, Byline carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Finance Firms Taking Similar Actions
Over the past couple of months, several companies have rewarded shareholders with new share repurchase programs.
Recently, Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025.
David Brown, chairman and CEO of VCTR, commented, “This new repurchase authorization allows us to remain flexible and opportunistic with our capital allocation.”
VCTR has an existing share repurchase program in place. This March, the board of directors of this San Antonio, TX-based company authorized the repurchase of up to $100 million of common stock through Mar 31, 2025. As of Sep 30, 2023, $51.9 million worth of shares were left to be repurchased under this authorization.
Likewise, Raymond James RJF announced a new share buyback program. Its board authorized the repurchase of its shares of common stock, aggregating to $1.5 billion, with no expiration date. This replaces the previous buyback program of $1.5 billion announced last December. Under the previous program, around $700 million remained available for repurchase as of Nov 30, 2023.
Also, RJF's board of directors declared a quarterly cash dividend of 45 cents per share, representing an increase of 7.1% from the prior payout. The new dividend will be paid out on Jan 16, 2024, to shareholders of record as of Jan 2, 2024.
Only $1 to See All Zacks' Buys and Sells
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Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
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Raymond James Financial, Inc. (RJF) : Free Stock Analysis Report
Byline Bancorp, Inc. (BY) : Free Stock Analysis Report
Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Roberto R. Herencia, the executive chairman and CEO of BY, stated, “The new share buyback authorization, which we believe is consistent with our disciplined approach, demonstrates our continued commitment to using this tool as part of our capital management strategy.” Finance Firms Taking Similar Actions Over the past couple of months, several companies have rewarded shareholders with new share repurchase programs. Recently, Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025.
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On Dec 12, 2022, BY's board of directors approved a share repurchase program authorizing the company to buy back up to 1.25 million shares, starting Jan 1, 2023, until Dec 31, 2023. Recently, Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025. Click to get this free report Raymond James Financial, Inc. (RJF) : Free Stock Analysis Report Byline Bancorp, Inc. (BY) : Free Stock Analysis Report Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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On Dec 12, 2022, BY's board of directors approved a share repurchase program authorizing the company to buy back up to 1.25 million shares, starting Jan 1, 2023, until Dec 31, 2023. Since the company did not repurchase any shares under the plan during the nine months ended Sep 30, 2023, the entire authorization remained available for repurchase at the end of the third quarter of 2023. Click to get this free report Raymond James Financial, Inc. (RJF) : Free Stock Analysis Report Byline Bancorp, Inc. (BY) : Free Stock Analysis Report Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Byline Bancorp, Inc. BY announced a new share repurchase plan. Recently, Victory Capital Holdings, Inc. VCTR announced that its board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025. Also, RJF's board of directors declared a quarterly cash dividend of 45 cents per share, representing an increase of 7.1% from the prior payout.
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713996.0
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2023-12-07 00:00:00 UTC
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Here's Why Casey's General Stores (CASY) is a Strong Growth Stock
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https://www.nasdaq.com/articles/heres-why-caseys-general-stores-casy-is-a-strong-growth-stock-2
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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Casey's General Stores (CASY)
Founded in 1959 and based in Ankeny, IA, Casey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. As of Jul 31, 2023, there were a total of 2,536 stores in operation.
CASY is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. CASY has a Growth Style Score of A, forecasting year-over-year earnings growth of 1.5% for the current fiscal year.
One analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.31 to $11.77 per share. CASY boasts an average earnings surprise of 17.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, CASY should be on investors' short list.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services likeSurprise Trader, Stocks Under $10, Technology Innovators,and more. They've already closed 162 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
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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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
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Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor. Stock to Watch: Casey's General Stores (CASY) Founded in 1959 and based in Ankeny, IA, Casey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. Click to get this free report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor. Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days. The Style Scores are broken down into four categories: Value Score Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value.
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What are the Zacks Style Scores? That's where the Style Scores come in. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B.
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713997.0
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2023-12-07 00:00:00 UTC
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Apple-backed study finds rise in data breaches as iPhone maker defends encryption stance
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https://www.nasdaq.com/articles/apple-backed-study-finds-rise-in-data-breaches-as-iphone-maker-defends-encryption-stance
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By Stephen Nellis
Dec 7 (Reuters) - In the first nine months of 2023, U.S. data breaches increased by 20% compared to the full year 2022, according to a new study that was commissioned by Apple AAPL.O.
The iPhone maker paid for the study, which was conducted by Massachusetts Institute of Technology Professor Stuart E. Madnick, about a year after it rolled out a new feature to expand end-to-end encryption for data stored in its iCloud service. The study, which does not include any findings of data breaches at Apple itself, argues that breaches are becoming so commonplace that the only feasible way to protect consumer data is wider use of end-to-end encryption.
Such encryption makes it impossible for the company that stores the data - or anyone who might hack its servers - to unscramble a user's data without also possessing additional information, such as the passcode for one of the user's personal devices. But that encryption approach also makes it impossible for law enforcement officials to access the data without the user's knowledge and has long been a friction point between technologists and government officials.
Britain is considering a law that would mandate access to private messages and has encouraged companies such as Meta Platforms META.O
The Apple-backed study, however, found that technology companies are frequently attacked by hackers because they provide services to valuable targets. Microsoft MSFT.O, for example, was hit by Chinese hackers this year, who managed to steal tens of thousands of U.S. State Department emails.
The study said that 98% of organizations have a relationship with at least one technology vendor that experienced a data breach in the previous two years.
"In today’s interconnected world, virtually every organization relies on a wide range of vendors and software. As a result, hackers only need to exploit vulnerabilities in third-party software or a vendor’s system to gain access to the data stored by every organization that relies on that vendor," the study said.
(Reporting by Stephen Nellis in San Francisco; Editing by Chizu Nomiyama)
((Stephen.Nellis@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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By Stephen Nellis Dec 7 (Reuters) - In the first nine months of 2023, U.S. data breaches increased by 20% compared to the full year 2022, according to a new study that was commissioned by Apple AAPL.O. The iPhone maker paid for the study, which was conducted by Massachusetts Institute of Technology Professor Stuart E. Madnick, about a year after it rolled out a new feature to expand end-to-end encryption for data stored in its iCloud service. Microsoft MSFT.O, for example, was hit by Chinese hackers this year, who managed to steal tens of thousands of U.S. State Department emails.
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Such encryption makes it impossible for the company that stores the data - or anyone who might hack its servers - to unscramble a user's data without also possessing additional information, such as the passcode for one of the user's personal devices. But that encryption approach also makes it impossible for law enforcement officials to access the data without the user's knowledge and has long been a friction point between technologists and government officials. As a result, hackers only need to exploit vulnerabilities in third-party software or a vendor’s system to gain access to the data stored by every organization that relies on that vendor," the study said.
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The study, which does not include any findings of data breaches at Apple itself, argues that breaches are becoming so commonplace that the only feasible way to protect consumer data is wider use of end-to-end encryption. Such encryption makes it impossible for the company that stores the data - or anyone who might hack its servers - to unscramble a user's data without also possessing additional information, such as the passcode for one of the user's personal devices. As a result, hackers only need to exploit vulnerabilities in third-party software or a vendor’s system to gain access to the data stored by every organization that relies on that vendor," the study said.
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The iPhone maker paid for the study, which was conducted by Massachusetts Institute of Technology Professor Stuart E. Madnick, about a year after it rolled out a new feature to expand end-to-end encryption for data stored in its iCloud service. Such encryption makes it impossible for the company that stores the data - or anyone who might hack its servers - to unscramble a user's data without also possessing additional information, such as the passcode for one of the user's personal devices. The study said that 98% of organizations have a relationship with at least one technology vendor that experienced a data breach in the previous two years.
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7723e7ed-a47b-4e86-81e3-c0b54bd87cde
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713998.0
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2023-12-07 00:00:00 UTC
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India, De Beers seek clarity, flexibility on G7's Russian diamond ban
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DCOMP
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https://www.nasdaq.com/articles/india-de-beers-seek-clarity-flexibility-on-g7s-russian-diamond-ban
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nan
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nan
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By Rajendra Jadhav, Polina Devitt and Clara Denina
MUMBAI/LONDON, Dec 7 (Reuters) - India, home to 90% of the world's diamond cutting and polishing industry, and De Beers, the top global rough diamonds producer by value, are seeking clarity and flexibility from G7 countries in implementing a ban on imports of Russian gems.
The Group of Seven countries on Wednesday announced a direct ban on Russian diamonds starting Jan. 1 followed by phased-in restrictions on indirect imports of Russian gems from around March 1. Russia is the world's biggest producer of rough diamonds by volume with a 30% share of the market.
The implementation will depend heavily on India, which wants to minimise potential disruptions for small diamond firms employing millions of people.
"We are not happy with the announced timeline for implementation of restrictions," said Vipul Shah, chairman of the Gem Jewellery Export Promotion Council (GJEPC), a leading Indian trade body.
"Recognising the diversity of our industry, we believe there should be more flexibility in these timelines," he said in a statement.
The G7's plan has sparked a debate inside the sector as it risks complicating supply chains when demand is under pressure. India's April-October polished diamond exports are down 29% to $10 billion.
"The G7 is essentially saying it is still a work in progress but here is a framework with a timeline," diamond analyst Paul Zimnisky said.
But "if Indian companies want to continue doing business with the G7 nations, then they are going to have to do their part," he added.
The G7 plans to introduce a traceability-based verification for rough diamonds by September, but for now two main questions of the plan remain unsolved: how a diamond's country of origin should be checked and where it should be done.
Belgium supports the idea of checks in Antwerp, the world's main diamond hub. Some in the industry are concerned that this would create supply chain bottlenecks, additional costs and hamper African production's access to the G7 markets.
"It is currently unclear what exactly will be involved at each stage, so we will seek further clarification before being able to consider impacts," De Beers, a unit of Anglo American AAL.L, said.
"If the intent is to apply a purely technological certification system and to channel all rough imports to the G7 through Belgium, this will be to the detriment of responsible African producers, to all those who depend on the artisanal mining sector, and to the wider industry," De Beers added.
Russian state-controlled diamond producer Alrosa ALRS.MM declined to comment.
(Reporting by Rajendra Jadhav in Mumbai and Polina Devitt and Clara Denina in London; Editing by Toby Chopra and Emelia Sithole-Matarise)
((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.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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The implementation will depend heavily on India, which wants to minimise potential disruptions for small diamond firms employing millions of people. "We are not happy with the announced timeline for implementation of restrictions," said Vipul Shah, chairman of the Gem Jewellery Export Promotion Council (GJEPC), a leading Indian trade body. "If the intent is to apply a purely technological certification system and to channel all rough imports to the G7 through Belgium, this will be to the detriment of responsible African producers, to all those who depend on the artisanal mining sector, and to the wider industry," De Beers added.
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By Rajendra Jadhav, Polina Devitt and Clara Denina MUMBAI/LONDON, Dec 7 (Reuters) - India, home to 90% of the world's diamond cutting and polishing industry, and De Beers, the top global rough diamonds producer by value, are seeking clarity and flexibility from G7 countries in implementing a ban on imports of Russian gems. "If the intent is to apply a purely technological certification system and to channel all rough imports to the G7 through Belgium, this will be to the detriment of responsible African producers, to all those who depend on the artisanal mining sector, and to the wider industry," De Beers added. (Reporting by Rajendra Jadhav in Mumbai and Polina Devitt and Clara Denina in London; Editing by Toby Chopra and Emelia Sithole-Matarise) ((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.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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By Rajendra Jadhav, Polina Devitt and Clara Denina MUMBAI/LONDON, Dec 7 (Reuters) - India, home to 90% of the world's diamond cutting and polishing industry, and De Beers, the top global rough diamonds producer by value, are seeking clarity and flexibility from G7 countries in implementing a ban on imports of Russian gems. The G7 plans to introduce a traceability-based verification for rough diamonds by September, but for now two main questions of the plan remain unsolved: how a diamond's country of origin should be checked and where it should be done. "If the intent is to apply a purely technological certification system and to channel all rough imports to the G7 through Belgium, this will be to the detriment of responsible African producers, to all those who depend on the artisanal mining sector, and to the wider industry," De Beers added.
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By Rajendra Jadhav, Polina Devitt and Clara Denina MUMBAI/LONDON, Dec 7 (Reuters) - India, home to 90% of the world's diamond cutting and polishing industry, and De Beers, the top global rough diamonds producer by value, are seeking clarity and flexibility from G7 countries in implementing a ban on imports of Russian gems. The Group of Seven countries on Wednesday announced a direct ban on Russian diamonds starting Jan. 1 followed by phased-in restrictions on indirect imports of Russian gems from around March 1. The G7's plan has sparked a debate inside the sector as it risks complicating supply chains when demand is under pressure.
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a4c53022-cf7b-4d33-9f2d-b1fcae5bb777
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713999.0
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2023-12-07 00:00:00 UTC
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Taking a Closer Look at MarketAxess' (MKTX) 9.8% 2-Day Rally
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DCOMP
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https://www.nasdaq.com/articles/taking-a-closer-look-at-marketaxess-mktx-9.8-2-day-rally
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nan
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nan
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MarketAxess Holdings Inc. MKTX shares jumped 9.8% in the past couple of days as investors recognized its growth potential, thanks to bullish November trading statistics and a positive analyst move. Bond trading at the company’s platform is picking up due to lower-than-expected inflation.
Let’s delve deeper.
MarketAxess witnessed a notable 9.3% year-over-year jump in total credit average daily trading volume for November, reaching $14.3 billion. The growth was driven by solid performance across the company’s credit products. Its total credit trading volume rose to $303.3 billion.
Additionally, MKTX achieved record trading volumes in Eurobonds, reaching $43.7 billion, and municipal bonds, reaching $12.6 billion. With lower-than-expected inflation, rate hikes are expected to stay paused, and if the inflation figures continue to cool down, we might even see rate cuts in the coming days. In anticipation of lower rates in the future, investors are flocking to current debt securities, such as bonds, to secure high payouts now.
Also, Citigroup’s analyst, Chris Allen, raised his price target on the MarketAxess stock to $300 per share, up from the earlier figure of $270. The stock closed at $262.05 on Dec 06, 2023. Given the ongoing increase in client engagement in MKTX’s trading platforms, the company is well-poised for growth.
Enhanced trading velocity, facilitated by increased trading automation and the All-to-All Open Trading platform, is expected to contribute to the company’s improving performance. The Open Trading platform generates substantial transaction cost savings for the company.
Price Performance
MarketAxess shares have increased 15.6% in the past three months compared with the 11% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
MarketAxess currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Finance space are Cboe Global Markets, Inc. CBOE, Coinbase Global, Inc. COIN and Capital Southwest Corporation CSWC. While Cboe Global sports a Zacks Rank #1 (Strong Buy) now, Coinbase and Capital Southwest carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Cboe Global’s current-year earnings indicates a 9.4% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 4.1%. Also, the consensus mark for CBOE’s 2023 revenues suggests 9.8% year-over-year growth.
The Zacks Consensus Estimate for Coinbase’s current-year earnings implies a 91.7% year-over-year improvement. It has witnessed one upward estimate revision against none in the opposite direction during the past month. COIN beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 63%.
The consensus mark for Capital Southwest’s current-year earnings indicates a 16.6% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 6.6%. Furthermore, the consensus estimate for CSWC’s 2023 revenues suggests 46.4% year-over-year growth.
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Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report
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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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MarketAxess Holdings Inc. MKTX shares jumped 9.8% in the past couple of days as investors recognized its growth potential, thanks to bullish November trading statistics and a positive analyst move. MarketAxess witnessed a notable 9.3% year-over-year jump in total credit average daily trading volume for November, reaching $14.3 billion. Also, Citigroup’s analyst, Chris Allen, raised his price target on the MarketAxess stock to $300 per share, up from the earlier figure of $270.
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MarketAxess witnessed a notable 9.3% year-over-year jump in total credit average daily trading volume for November, reaching $14.3 billion. Image Source: Zacks Investment Research Zacks Rank & Key Picks MarketAxess currently has a Zacks Rank #3 (Hold). Click to get this free report Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report MarketAxess Holdings Inc. (MKTX) : Free Stock Analysis Report Capital Southwest Corporation (CSWC) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Zacks Rank & Key Picks MarketAxess currently has a Zacks Rank #3 (Hold). While Cboe Global sports a Zacks Rank #1 (Strong Buy) now, Coinbase and Capital Southwest carry a Zacks Rank #2 (Buy) each. Click to get this free report Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report MarketAxess Holdings Inc. (MKTX) : Free Stock Analysis Report Capital Southwest Corporation (CSWC) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Zacks Rank & Key Picks MarketAxess currently has a Zacks Rank #3 (Hold). While Cboe Global sports a Zacks Rank #1 (Strong Buy) now, Coinbase and Capital Southwest carry a Zacks Rank #2 (Buy) each. The Zacks Consensus Estimate for Cboe Global’s current-year earnings indicates a 9.4% year-over-year increase.
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9419b0d7-2899-41af-9dc1-c2d6f488fde7
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