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2023-12-07 00:00:00 UTC
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C3.ai (AI) Q2 2024 Earnings Call Transcript
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https://www.nasdaq.com/articles/c3.ai-ai-q2-2024-earnings-call-transcript
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Image source: The Motley Fool.
C3.ai (NYSE: AI)
Q2 2024 Earnings Call
Dec 06, 2023, 5:00 p.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good day and thank you for standing by. Welcome to the C3.ai second quarter fiscal year '24 conference call. At this time, all participants are in a listen-only mode. After the speakers' presentations, there'll be a question-and-answer session.
[Operator instructions] Please be advised that today's call is being recorded. I'll now turn the conference over to your host, Mr. Amit Berry. Please begin.
Amit Berry -- Investor Relations
Good afternoon and welcome to C3.ai'searnings callfor the second quarter of fiscal year 2024, which ended on October 31, 2023. My name is Amit Berry, and I lead investor relations at C3.ai. With me on the call today is Tom Siebel, chairman and chief executive officer; and Juho Parkkinen, chief financial officer. After the market closed today, we issued a press release with details regarding our second quarter results, as well as a supplemental to our results, both of which can be accessed through the investor relations section of our website at ir.c3.ai.
This call is being webcast, and a replay will be available on our IR website following the conclusion of the call. During today's call, we will make statements related to our business that may be considered forward-looking under federal securities laws. These statements reflect our views only as of today and should not be considered representative of our views as of any subsequent date. We disclaim any obligation to update any forward-looking statement or outlook.
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These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For a further discussion of the material risks and other important factors that could affect our actual results, please refer to our filings with the SEC. All figures will be discussed on a non-GAAP basis unless otherwise noted. Also, during the course of today's call, we will refer to certain non-GAAP financial measures.
A reconciliation of GAAP to non-GAAP measures is included in our press release. Finally, at times in our prepared remarks, in response to your questions, we may discuss metrics that are incremental to our usual presentation to give greater insight into the dynamics of our business or our quarterly results. Please be advised that we may or may not continue to provide this additional detail in the future. And with that, let me turn the call over to Tom.
Tom Siebel -- Chairman and Chief Executive Officer
Thank you, Amit. Good afternoon, everyone, and thank you for joining our call today. Results. Bottom line, we continue to accelerate our revenue growth and our customer engagement count and continue to gain traction with C3 Generative AI and our enterprise AI applications in the second quarter.
Total revenue for the second quarter was 73.2 million, an increase of 17% compared to 62.4 million one year ago and accelerating from an 11% increase in the first quarter. The total number of customer engagements was 404, an increase of 81% compared to 223 last quarter. North American revenue of 61.2 million increased 28% year over year, while EMEA revenue of 10.6 million decreased 11% year over year and federal revenue increased 100% year over year. Subscription revenue for the quarter was 66.4 million, constituting 91% of total revenue and increasing 12% from a year ago.
GAAP gross profit for the quarter was 41.1 million, representing a 56% gross margin. Our non-GAAP gross profit for the quarter was 50.4 million, representing a 69% non-GAAP gross margin. Our GAAP net loss per share was -- the loss was $0.59, and non-GAAP net loss per share was $0.13. We ended the quarter with 762.3 million in cash, cash equivalents, and investments.
C3.ai's partner ecosystem continues to drive significant growth. In Q2, the company can close -- the company closed 40 agreements through our partner network, including AWS, Booz Allen, Baker Hughes, Google Cloud, and Microsoft. The qualified opportunity pipeline with partners has increased by 75% in the past year. We signed new and expanded agreements with Nucor Corporation; Roche; Con Edison; Hewlett Packard Enterprise; GSK, formerly SmithKline; the United States Navy; the Administration for Children and Families, a division of Health and Human Services; Indorama; and First Bank, among others.
Over the past several months, C3.ai has helped Nucor, the largest steel producer in the United States, to better optimize caster production schedules, specifically to improve production levels and reduce cost levels in the steel casting process. C3.ai is now helping Nucor scale this across several additional mills. In Q2, C3.ai also kicked off two new additional use cases at Nucor, tackling process optimization and demand forecasting, and we also completed a C3 Generative AI pilot, targeting operational health and safety. GSK, formerly GlaxoSmithKline, is now using C3.ai supply chain suite to increase efficiency in its supply chain, using AI to optimize yield and improve demand forecasting processes.
Con Edison, a C3 customer since 2017, continues to expand its use of the C3.ai applications, most recently by adding C3 Generative AI. Con Ed is using C3 Generative AI to help workers quickly find answers to questions and analyses related to smart meters, service levels, and infrastructure data. In the second quarter, Con Edison completed two pilots of C3 Generative AI, which have now converted to production. We also continue to expand our footprint in state and local governments, with a particular interest in C3 AI Law Enforcement from San Mateo County, California, and C3 AI Residential Property Appraisal from Stark County, Ohio and Charlotte County, Florida.
Our federal business continues to show significant strength, with bookings up 187% year over year. We closed new and expanded deals with the United States Navy, the Intelligence Community, Joint Staff J8, the Defense Logistics Agency, and the Administration for Children and Families. We've talked many times about our success -- our successes in helping to monetize -- or to modernize, sorry, the Department of Defense, and we're proud now to say that our products are helping civilian government agencies as well. This quarter, we began work with the Administration for Children and Families, a division of the U.S.
Department of Health and Human Services. The agreement with C3.ai was part of their first order under a $90 million purchase -- blanket purchase agreement. And this part of AFC's -- ACF's work involves helping unaccompanied children who crossed the U.S. border find temporary shelter and permanent homes.
Our platform will be used in complex modeling and predictive analytics at ACF to help them keep track of the number of unaccompanied children in the agency's care, staffing needs, and determine how long these children are with their case managers, among other tasks. C3.ai continues to leverage its extensive commercial supply chain experience in the federal government. It is now applying this experience with the defense sector with the C3 AI Contested Logistics Application for TRANSCOM and for DLA. During the quarter, C3.ai converted two Defense Logistics Agency pilots into follow-on projects for the Department of Defense.
The first project delivers common operating picture of the supply chain for DOD and enables leaders at multiple echelons to see in near real time their global Class IX supply posture. The application unifies disparate supply data and provides the Defense Logistics Agency the ability to identify supply chain inefficiencies, forecast parts consumption and parts shortage, and conduct impact assessments and put into place mitigation plans. The second project supports DLA's energy directorate, leveraging C3.ai's commercial expertise in the oil and gas sector. The C3 AI Contested Logistics Application modernize -- modernizes and streamlines global fuel distribution for the Department of Defense.
Users can see global fuel inventories, anticipate fuel consumption, identify supply network risks, and create distribution and transportation plans to prevent disruption and ensure supply. These applications promise to significantly impact the efficiency of the Department of Defense logistics enterprise and improve readiness. Our partnership with AWS deepened with an expanded strategic collaboration agreement in the quarter, OK, and the availability of our new no-code, self-service generative AI applications, C3 Generative AI, now available on the AWS Marketplace. I think we announced that last week.
This new application allows customers -- users of all technical levels to begin using generative AI within minutes of signing up. And this application, C3 Generative AI, is now available to you on the AWS Marketplace under a 14-day free trial, and so I encourage you to take a look at it for those of you who are interested. Under the expanded collaboration agreement with AWS, we're focusing on offering advanced generative AI solutions, combined with what they're doing in Bedrock, OK, and other initiatives, for enterprises and for AI applications for customers in multiple verticals, including manufacturing, power and utilities, consumer packaged goods, state and local government, and the federal government. C3.ai and AWS' joint qualified pipeline has more than doubled year over year, with heightened interest in the C3 Generative AI suite.
In Q2, C3.ai has been recognized multiple times for its innovation in the AI space. We've been named to the Fortune 50 AI Innovators list, and the list kind of goes on and on. So, I'm not going to belabor that. We get recognized all the time.
Pilot growth, this is important. In Q2, we closed 62 agreements, including 36 pilots and trials. Our new pilot count is up 270% from a year ago. Notably, 20 of these were generative AI pilots, a 150% increase from Q1.
With the lower entry price points of our pilots, we are more easily able to land new accounts. With our pilots, we are engaging customers across a diverse set of industries. In this quarter, our pilots came from manufacturing, federal, defense, aerospace, pharmaceuticals, and other industries. Now, we did see sales headwinds in the quarter, OK? While the interest in AI applications, and especially generative AI, is growing substantially, we're also seeing, in many cases, lengthening decision cycles.
Virtually, every company, OK, in the last three to six months has created a new AI governance function as part of its decision-making process. These AI governance functions assess and approve those AI applications that will be allowed to be installed in the enterprise. This has candidly added a step to the decision process in AI. You might have heard it here first, OK, but you will be hearing this from every AI vendor, OK, in the next few quarters.
Take it to the bank. It has simply -- it has added a step in the process, it is -- and it is lengthening the normal sales cycle. So, it kind of -- so -- and so this had a -- you know, this provided a sales headwind in the quarter, OK? And while the increased scrutiny lengthens the sales process, we believe that this is a healthy process to ensure that companies are adopting safe and appropriate AI solutions. So, we're all for it, OK.
And, you know, did it, you know, move revenue, you know, a little bit, you know, a click below the center of the range? Yeah, it did, OK? But, you know, get over it. The world's a better place. People are making, you know, very careful, well-informed decisions. They have their best people on it, and we will all be happier for this in the long run.
OK. So, it did -- you know, that dynamic did provide an unexpected headwind to our Q2 sales revenue performance. In addition, our sales execution in Europe was candidly unacceptable, OK? And since then, we've taken -- we've been through our planning meetings and we've taken appropriate organizational steps to immediately improve sales execution in Europe. Now, let's take a look at -- and this is the big story.
This is the top line, OK? And really, what this whole story has been about for the last six or seven quarters has been from the transition from subscription-based pricing to consumption-based pricing. And before we switch to consumption-based pricing, you'll recall, the company was growing at quite a rapid growth rate, like I think seven quarters ago, order of, you know, 38% year-over-year growth rate. So, we were, you know, definitely in the top quartile, OK? And we announced the transition to consumption-based pricing that we believed would be and has become the standard in the industry. OK.
The consumption-based pricing is based upon per virtual CPU or virtual GPU hours, similar to the pricing at Snowflake, Google Cloud, AWS, Microsoft Azure, etc. Prior to this, we were doing large enterprise subscription deals of $1 million, $5 million, $20 million, $50 million. And, you know, it was a good business. That being said, the downside of that model was lumpiness in bookings, lengthy sales cycles, and low levels of revenue predictability.
We believe the transition from a primarily subscription-based pricing model to a consumption-based pricing model brought us into line with what we believe are today the industry standard cloud pricing standards, like making it easier and less costly for new customers to acquire solutions and then increase their spending as their usage and adoption increase. We anticipated and announced when we made that transition that it would have a short to medium negative effect on revenue growth, a long-term drag on RPO as the sales price was significantly reduced and the contracts often lacked a time certain multiperiod commitment. We believed when we made the announcement that the consumption-based pricing model would increase the number of customers and increase the total amount of system consumption, returning -- resulting in a return to increased revenue growth, increased customer growth, decreased average selling price, and decreased RPO over time. Now, while we were still in the process of working through -- completely through this transition to the new pricing model, the preliminary empirical results that we are seeing, evidenced by year-over-year growth rates, appear to be proving out exactly as expected and exactly as we predicted.
Since the transition, revenue growth initially decreased, then it flattened, OK. And now, it is increasing as the consumption-based pricing model take effects -- takes effect. Average selling price has decreased. RPO has decreased.
Customer engagement has increased substantially. OK. If we look back over the last, say, one, two, three, four quarters, four quarters ago, our revenue growth was negative 4% and then 0%. Last quarter, it was 11%.
Now, it's 17%. Bookings growth, 71% year over year -- I'm sorry, bookings growth 100% year over year. New contract growth, 148% year over year, OK. Pilot growth, 50% quarter over quarter, 170% year over year.
So, this is the -- basically the beginning, the middle, and the end of this story, OK? We announced six, seven quarters ago a transition to consumption-based pricing. We predicted that revenue would decline and then flatten and then increase, and we are now seeing these increases that we predicted. So, now, let's talk about generative AI. Generative AI simply changes everything.
OK. I believe that it more than doubles the size of our addressable market overnight. We've all seen the predictions, you know, from Bloomberg that predicts this is a 100 -- you know, this is a, you know, in excess of a trillion -- $1.3 trillion market by 2032. Goldman Sachs predicts that this could increase corporate profits by 30% in the next decade and that generative AI alone could raise the global GDP by 7%.
People, this is a big deal, OK? It is difficult to overestimate the levels of interest that we're seeing in the category of generative AI. Now, by combining our multibillion-dollar, say, 14-year investment in the C3.ai platform with the recent developments in large language models and retrieval-augmented generation, C3.ai is unique in the market in that we are able to solve the disqualifying hobgoblins that are preventing the adoption of generative AI in government, in defense, in intelligence, in the private sector. What are those hobgoblins, OK? Those are the facts that, you know, that the answers that come out of these large language models are stochastic. They're random.
They're not traceable. They -- we have this hallucination problem, which is extraordinarily problematic, OK? We have research, we -- none of our data access controls yet, be it DOD or Bank of America, are enforced. We have these problems with LLM cause data exfiltration, LLM cause cyberthreats and IP liability, OK? In addition, all the solutions that are out there -- almost all of those solutions, I would say, with the exception of AWS Bedrock, tend to be LLM-specific. And I don't think anybody wants to be LLM -- you know, hook their wagon onto any given LLM today with all the innovation that's going on in the market and to be dependent on any LLM provider that could, you know, make some announcement on Friday and be gone on Monday.
See OpenAI for details. So, you know, this is LLM agnostic [Inaudible] to the bottom line is our solution in the market addresses every one of those hobgoblins that prevent the installation of generative AI in the enterprise. And so, this is really unique, and it took 14 years and $2 billion worth of software engineering for us to be ready for this. This is why we can solve it.
So, while the rest of the world is playing catch up, OK, we're -- how about multimodal? I mean, we completely nail multimodal. We've been doing it for 14 years. Multimodal, what does this mean? Rather than -- all these LLM solutions basically handle text, OK? We handle text, we handle telemetry, we handle images, we handle signals. There is -- we handle enterprise data.
We have structured data. We have unstructured data. So, we are unique in the market, and the result is quite exciting. So, while the rest of the world is playing catch up and we have scores of, you know, start-ups, with, you know, three guys, four girls, and two cats in an apartment in San Francisco being -- getting a -- yeah, they're getting, you know, billion-dollar funding and, you know, multibillion-dollar market valuations, see PitchBook for details, OK, we have, you know, I don't know how many customers, we have order of a thousand employees, and I don't know how many countries, and we're delivering these solutions today.
OK And so, while the rest of the world is playing catch up, we're working closely with our customers and new customers to install high-value generative AI solutions that rapidly realize value to their organizations. OK. We believe that our strategic decision to invest in generative AI could address our addressable market opportunity. Our suite of 28, now I think 29, generative AI products wins on reliability, flexibility, adaptability, accuracy, and security, OK, all of the same qualities that are inherent in our enterprise AI platform.
Our vision to expand our customer base is working, OK? The idea, and this is very much the idea about the work that we're doing on the AWS Marketplace, is to go from eight customers to 80 customers to 8,000 customers to 80,000 customers, OK? So, what we're dealing with now is kind of a new game with massive market leverage, and we are the first to market, OK? And we -- so I think we have the opportunity here through our innovation, through our applications that will proliferate across the business. C3 Generative AI has enabled us to land high-caliber new customers and expand agreements with the current customers. The surge of interest led to our C3 Generative AI qualified pipeline increasing -- of new opportunities, increasing 55% sequentially quarter over quarter in the second quarter, representing the most rapid acceleration of all our product offerings. We expect this momentum to grow as we continue to innovate and build increasingly exciting products.
Our November announcement of the self-service C3 Generative AI on the AWS Marketplace plays a big part in this story, potentially expanding our addressable customer pool and our user base exponentially. This new application allows users of all technical levels to enroll in the application and begin productively using generative AI in minutes. OK. Again, this product is available today on the AWS Marketplace should you have interest.
As I introduced last quarter, we made a well-considered decision to seize the immediate and candidly staggering market opportunity and see -- that we see in generative AI. As such, we are making and increasing a sizable and timely investment in application development, model engineering, lead generation, branding, and market awareness to seize market share in generative AI as rapidly as possible. This will put short-term downward pressure on free cash flow and profitability. Closing thoughts.
The generative AI opportunity is staggering. We believe that it is in the best interest of our shareholders to further accelerate our investment in generative AI, deepening our investments in lead generation, branding, market awareness, and customer success. Given our substantial cash balance, we believe it is a strategic imperative to invest further in the generative AI opportunity at this time. Separately, now with the release of our platform version of our 8.3 product line, which is really quite remarkable in terms of the benefits that it brings to our customers and the increase in the performance that it brings to our customers, we have decided to further invest in our customer base to accelerate their upgrade from Version 7 to Version 8.3, which we believe will further increase our customer satisfaction levels that are already quite high.
We continue -- that being said, we continue to expect positive cash flow in Q4. And while we're not giving fiscal year '25 guidance yet, we continue to expect positive cash flow for full year fiscal year '25. C3.ai remains focused. We are one of the few AI software pure-plays that has established relationships; a tried, tested, and proven technology platform; and the reputational equity to capitalize on this generative AI market opportunity.
Now, I'll turn it over -- I'll turn the call over to Juho Parkkinen, our chief financial officer, to talk more about our financial performance and provide guidance for the remainder of the fiscal year. Juho.
Juho Parkkinen -- Chief Financial Officer
Thank you, Tom. I will now provide a recap of our Q2 financial results and some additional color on our consumption-based revenue model, which we introduced five quarters ago. Then I'll discuss factors that will drive our financials in the back half of the year. All figures are non-GAAP unless otherwise noted.
Total revenue for the second quarter increased 17.3% year over year to 73.2 million. Subscription revenue increased to 11.7% year over year to 66.4 million and represented 90.7% of total revenue. Professional services revenue was 6.8 million and represented at 9.3% of total revenue. Gross profit for the second quarter was 50.4 million and gross margin was 68.8%.
As a reminder, we continue to expect short-term pressure on our gross margins due to a higher mix of pilots, which carry a greater cost of revenue during the pilot phase of the customer life cycle. Operating loss for the quarter was negative 25 million, compared to our guidance range of negative 27 million to negative 40 million. The improvement in operating loss versus guidance was driven by timing and amounts of the generative AI-related investments we made to capture market share, as well as our team's ongoing focus on disciplined expense management. At the end of Q2, our accounts receivable was 143.2 million, including unbilled receivables of 104.8 million.
The general health of our accounts receivable remained strong. Now, turning to RPO and bookings. Reflecting our transition to consumption-based contracts, we reported second quarter GAAP RPO of 303.6 million, which is down 27.3% from last year; and current GAAP RPO of 170.2 million, which is up 3.5% from last year. We continue to see positive trends in the diversity of our pilot bookings, with 10 industry segments represented in Q2 pilots, as compared to eight in Q1.
Free cash flow for the quarter was negative 55.1 million. We continue to be very well capitalized and close the quarter with 762.3 million in cash, cash equivalents, and marketable securities. Now, I'll provide an update on our consumption business model for the second quarter. During the quarter, we started 36 pilots, a 50% increase from last quarter.
We are pleased to report that the actual vCPU consumption data that we're seeing from pilot activity has validated the assumptions we made when we transitioned to the consumption-based pricing model five quarters ago. Our pilot conversion rates are trending upwards, are getting close to our target of 70%. At quarter-end, we had cumulatively signed 109 pilots, of which, 103 are still active. This means they are still in their original three- to six-month term, extended for one to two months, converted to consumption or a licensed contract, or are currently being negotiated for a production license.
Finally, our customer engagement count for the quarter was 404, an 81% increase from 223 a year ago. Turning to guidance. As Tom mentioned, we expect Q revenue -- Q3 revenue to range from 74 million to 78 million, a non-GAAP loss from operations to range from negative 40 million to negative 46 million. We remain committed to delivering positive cash flow in Q4 FY '24 and for the full year of fiscal year '25 and non-GAAP profitability in the second half of fiscal '25.
For the full fiscal year '24, we are maintaining our previous revenue guidance in the range of 295 million to 320 million. We are increasing our non-GAAP loss from operations guidance to a range of negative 115 million to negative 135 million. I'd like to turn the call over to the operator to begin the Q&A session. Operator.
Operator.
Questions & Answers:
Operator
Our first question comes from the line of Timothy Horan of Oppenheimer. Your line is open.
Tim Horan -- Oppenheimer and Company -- Analyst
Thanks a lot, guys. Really appreciate the time. Can you give us a sense of what you're seeing with gen AI in terms of productivity improvements? And, you know, what is the major bottleneck that you think customers need to overcome to really start implementing services? Thanks.
Tom Siebel -- Chairman and Chief Executive Officer
I'm sorry. The question is related to gen AI?
Tim Horan -- Oppenheimer and Company -- Analyst
Yes, specifically on gen AI. You know, what type of productivity improvements do you think customers can see on specific applications and what is the major, you know, bottleneck for them adopting gen AI? Thanks.
Tom Siebel -- Chairman and Chief Executive Officer
The major bottleneck as it relates to generative AI relates to the problems that are inherent in these large language models, and they're very real. I mean, as you know, if you use ChatGPT or Google Bard, both of which are like excellent products, but the answers tend to be stochastic, OK? So, every time you ask a question, you get a different answer. The -- if it doesn't know the answer, it hallucinates. You know, the data access controls are not enforced, so the CEO and the person on the factory floor get access to the same information.
Or Carnegie Mellon and others are now identifying huge cybersecurity risks that are associated with these large language models to corporations and government entities. We have IP liability problems that people are concerned about because these large language models are trained on and have access to all the data on the internet. This is like weather, you know, stock prices, what have you. And those -- you know, somebody has the copyright to all those data, you know, be it The Weather Company or Bloomberg, and they want to get money.
So, you know, the Quinn Emanuels of the world are going to build big businesses, litigating these issues in the next 10 years. We have -- so there's very real issues. The other issues, it relates to almost all the solutions that are being offered are LLM-specific. And, you know, in, say, December 2023, to hook your wagon onto any specific LLM is kind of crazy because next week, somebody is going to leapfrog it by a factor of 10.
So, you need to be able to switch. You need to be LLM agnostic. So, I think those are really the hobgoblins, cybersecurity, hallucination, information security, that are basically making it -- so many organizations will not allow the -- any generative AI application to be installed. What's unique about the C3.ai solution is, and we can talk about this some other time or you can look it up on the internet, but by combining it with the 14 years of work that we did with the C3.ai platform, we've addressed all those problems: cybersecurity, data security, hallucination, what have you.
So, I think that's the hobgoblins. Now, the -- that's what slows things down, and people need to be satisfied until those issues are resolved. And if they're not resolved, you're not being installed in some -- at any reasonable organization like General Motors or, you know, JPMorgan Chase, or you name it, OK? Now, as it relates to the productivity increases, holy moly, they're going to be staggering, whether you're a lawyer, whether you're a realtor, whether you're a physician, or whether you're running a paper machine, or whether you're operating the infantry or the Space Command. I mean, you -- you know, if you do not have or are not being supercharged by, you know, generative AI, your competition will be.
OK. And if they are and you're not, they win, you lose hard stock.
Tim Horan -- Oppenheimer and Company -- Analyst
So, specifically to your customers, what do you think the bottleneck is for adoption? If you have -- it sounds like you have all these problems pretty much resolved for them. You know, what do you think they require at this point to really start adopting?
Tom Siebel -- Chairman and Chief Executive Officer
Well, you know, we just -- you know, our sales cycles are pretty fast. Our sales cycles in generative AI has been as close as 24 hours. And basically, our offering is, OK, we'll bring the application live, OK, in one or two months if you like it for, I don't know, $0.25 million or something. And if you like it, keep it.
So, this has to do with people evaluating bond portfolios, people running paper machines, people running steel mills, the Intelligence Community, Missile Defense Agency, others. So, we just -- you know, we -- many of them are existing C3 customers. Although, increasingly, we will be serving -- you know, nine out of 10 will not be existing C3 customers. But, you know, we have to address the concerns that I identified.
We seem to be able to address those. After that, we just bring the application live. We get it live in four to eight weeks, and if they like it, keep it. And so, it's a pretty short sales cycle for us, and you're seeing a very substantial increase in the pilots that we're deploying where you can expect -- we're expecting a pilot-to-production conversion rate of -- you know, it looks like about 70%.
And so, it does look like a big opportunity.
Tim Horan -- Oppenheimer and Company -- Analyst
Thank you.
Operator
Thank you. [Operator instructions] Our next question comes from the line of Mike Cikos of Needham. Your line is open.
Mike Cikos -- Needham and Company -- Analyst
Hey. Thanks for taking the questions here, guys. I wanted to ask first about the subscription gross margins, and this probably goes back to Juho's prepared remarks, but was good to see gross margins actually increase sequentially despite the increased pilot count. And I know that you guys are calling out the short-term pressure just based on the growing mix of pilots.
And so, can you help us think about like what was it that actually went better for you, guys, because I think we were expecting a little bit more degradation in the subscription gross margins versus how you guys -- how the quarter actually came through?
Juho Parkkinen -- Chief Financial Officer
Thanks, Mike. This is Juho. So, yeah, in the big picture, as we announced five quarters ago, as we're seeing, we are expecting the gross margin degradation for the subscription to continue. Now, in the -- in this particular quarter, we were very pleased to see some improvement on a sequential basis, but I think we would expect the flattening to down again on the next quarter as the piloting -- pilot count increases and is going to put pressure before the consumption amounts start picking up and offsetting that.
Mike Cikos -- Needham and Company -- Analyst
Got it. Thank you. If I just shift down to opex for a second as well, I guess a two-parter here. So, first, I know that you guys are increasing the anticipated operating losses here.
Last quarter, we had cited increased investment in like branding and lead gen and awareness, right? So, can you help us think through where you guys are doubling down? And then the second piece there, there was obviously that article that came out in Bloomberg, I think it was in mid to late November, citing headcount costs -- headcount cutting, I'm sorry. So, can you just comment on the validity of the Bloomberg article just because I think people are trying to see if you did make those headcount cuts, how much are we doubling down on these investments, or if that article proved to be false?
Tom Siebel -- Chairman and Chief Executive Officer
Hey, Mike. It's Tom. Doubling down -- we're doubling down on data scientists. We're doubling down on, you know, large language model engineers.
We're doubling down -- you know, a lot of it is going into engineering, but also candidly in lead generation. I mean, there's an opportunity now as we move to these marketplaces to be dealing transactions in hundreds to thousands to tens of thousands of units rather than scores. And that, I can assure you, it's the plan that we have. As it relates to -- I'm not familiar with the Bloomberg article that you talked about.
It sounds like somebody mentioned something that we did some layoffs in the quarter. Mike, we do performance-related layoffs every quarter, OK? And the -- you know, so we -- I think, last quarter, we had 42,000 job applicants. We -- how many people did we hire, Juho? Order of 100?
Juho Parkkinen -- Chief Financial Officer
That's right.
Tom Siebel -- Chairman and Chief Executive Officer
Order of 100. And these people, yes, they went to MIT, yes, they worked at Bank of America, yes, they went to Chicago GSB, and they command an F-18 squadron. And so, we're constantly upgrading our human capital, and, you know, we move underperformers out, you know, regularly. So, if somebody said that in a Bloomberg article -- I don't know what they said, what I told you is the truth.
Mike Cikos -- Needham and Company -- Analyst
Got it. Thank you. I'll turn it over to my colleagues, but thank you for the color there.
Operator
Thank you. One moment, please. Our next question comes from the line of Kingsley Crane of Canaccord Genuity. Your line is open.
Kingsley Crane -- Canaccord Genuity -- Analyst
Hi. Thanks for taking the question. I wanted to touch on the pilot program. You mentioned that you'd move to a lower entry price point for pilots.
Could you give us a sense of the magnitude of that change? And then has the minimum fee post-pilot also changed? I'm curious what kind of upsell you're seeing upon conversion, if any.
Tom Siebel -- Chairman and Chief Executive Officer
Hey, Kingsley. It's Tom. I think the standard pilot that we have with generative AI and the enterprise is like $250,000. But that being said, you can get the, you know, AWS -- generative AI for AWS, which basically handles documents like every other LLM.
It handles texts. It's not really multimodal. But that's free for 14 days. So, that would be pretty available.
Is there a question that you asked that I didn't answer?
Juho Parkkinen -- Chief Financial Officer
No, that's right, I think.
Tom Siebel -- Chairman and Chief Executive Officer
OK.
Kingsley Crane -- Canaccord Genuity -- Analyst
OK. Yes. Thank you. That's helpful.
And I just want to touch on opex as well. So, I think it makes sense that you want to invest more in both LLM engineers and lead gen and looks like that's particularly hitting harder in Q4 of this year. But as we think about fiscal '25, it seems like some of the nature of those investments would naturally continue as you scale in these some large opportunities. So, is it about timing in this year or are you expecting those to continue next year?
Tom Siebel -- Chairman and Chief Executive Officer
Well, Kingsley, I expect them to continue next year. But if you look at the guidance that we gave you in terms -- about six quarters ago, what we see is the consumption over the first 12 quarters in terms of CPU seconds per new customer. We just did an analysis of, Juho, I don't know, about 30 customers [Inaudible] customers --
Juho Parkkinen -- Chief Financial Officer
That's right. Yeah.
Tom Siebel -- Chairman and Chief Executive Officer
And that -- those data that we predicted, I think, six or seven quarters ago and provided you, it's uncanny in how accurate it is. It's basically plus or minus 10%. And so, if you look, as these things kick in in Quarter 5, 6, 7, and 8, the consumption numbers get pretty big. So, you can expect that you were -- we don't really need to cut back on the investments to get to the point of cash-positive and non-GAAP profitable.
So, the top line kind of takes care of that.
Kingsley Crane -- Canaccord Genuity -- Analyst
Makes perfect sense. Thanks, Tom.
Operator
Thank you. One moment, please. Our next question comes from the line of Sanjit Singh of Morgan Stanley. Your line is open.
Unknown speaker
Great. Thank you. This is [Inaudible] for Sanjit. Tom, maybe starting with you.
I mean, with a couple of quarters of the consumption model now under your belt, clearly, you're seeing a lot of sort of quantity of deals and pilots. Is there any way that you can frame or give us a sense of the quality of those customers that went with the consumption model early on, like, say, any sort of scale in terms of spending or growth profile that they're hitting now that you can kind of shed us some light and give us the quality piece where you've given us, I think, a lot on kind of the quantity piece of those deals? And then for Juho, maybe, could you just give us some color on the subscription revenue versus the services revenue this quarter and then also maybe the partner impact and sort of what that looks like on a go-forward basis? Thank you.
Tom Siebel -- Chairman and Chief Executive Officer
Hi, Sanjit. OK, regarding quality, I think there's only two ways to look at pilot quality. It's going to be what's the conversion rate, OK, and what's -- OK -- and what are they going to consume? OK. Based upon our best guess at this time, OK, based on looking at every pilot we have out there, going to look at what actually has converted and what we think we will convert, we think our estimate that we gave you six or seven quarters ago of 70% is about right.
So, there's one indication of quality. The other indication of quality is how many CPU seconds are they consuming, OK, over as you go from Quarter 0 to Quarter 12. And it's tracking right in line -- I mean, it varies a little bit from one quarter to another, but it's basically right in line with what we told you. The quality is pretty high.
Now, that being said, as we move now to mass markets and start dealing with hundreds or thousands of people just kind of ordering this online and playing with it, you can expect that conversion rate from that level of pilot to be, I would say -- I mean, the quality there will be much lower, OK? And I think we need to measure quality by conversion rate and consumption levels. A lot of those people will try it for five minutes and drop off, and that's just the way that it is with free stuff. Now, the rest of the question, I think, goes to Juho.
Juho Parkkinen -- Chief Financial Officer
Yeah. Right. So, your second part about subscription versus services, so we were 9.3% professional services this period, which is a little bit lighter than our expected long-term model of 10% to 20% on professional services. We continue to expect that we will be at that range on a go-forward basis.
And then I think you were asking about how we feel about the partners in a go-forward basis, and partners are hugely important for us, and we continue to believe that they're the key part of our go-to-market approach going forward.
Unknown speaker
Excellent. Thanks.
Operator
Thank you. It looks like we have time for one last question. Our last question will be from Pat Walravens of JMP Securities. Your line is open.
Owen Hobbs -- JMP Securities -- Analyst
Hey, everyone. Thanks taking for the question. This is Owen Hobbs on for Pat. I guess first one for Tom, what would you say are the top 1 or 2 federal use cases for generative AI that you're seeing with those new -- those five new federal generative AI deals this quarter?
Tom Siebel -- Chairman and Chief Executive Officer
Our largest federal use case, as you know, is predictive maintenance of the United States Air Force, OK. This was chosen by the chief of staff and the -- and we now are doing -- this is the PANDA system, which is the only AI system of record that we're aware of in all of DOD. So, this is the system of record for the Air Force for predictive maintenance for all assets. So far, we have loaded the data, I believe, from 22 weapon systems, F-15, F-16, F-18, F-35, KC-135, F-22, etc., into a unified federated image.
This is 100 terabytes of data, OK? Some of it is, you know, maintenance data, sorting data, inventory data, flight data, flight history, telemetry, and one aircraft like a B-50. Each B-1 bomber has 42,000 sensors on it, emitting telemetry, and I'm not sure what hertz cycles, but pretty fast. So, this is a stack of data, OK? I will be there on -- I will be -- in Monday -- on Monday. That is like next Monday.
I will be in Washington D.C., OK, showing this to our customers with a generative AI front-end. So, think about this as a Mosaic browser front-end where a general officer can ask any question about -- and this is a 100-terabyte production system. This is one of the largest production enterprise AI applications in existence, OK? And that person will be able to ask -- on Monday, OK, be able to ask any question that you could ask of the weapon system. For example, what aircraft are operative at Travis Air Force Base now? What is my cost of operating the B-1 bomber program in the last year? OK.
What is the -- as it relates to F-35, what -- where are my largest parts shortages? And rather than going through some, you know, Cold War era menu-based, you know, SAP or even Siebel-like, I don't want to take shots at SAP, you know, enterprise information system, user interface that kind of looks like your Bloomberg terminal, OK, which is -- I have one on my desk, it's unusable, OK. The -- you know, just be a Mosaic browser, you can ask any question and get the answer related to any one of these weapon systems in the United States Air Force against their production data, and we will show it on Monday, on Tuesday, on Wednesday. And I am telling you, we expect some light bulbs to flash.
Owen Hobbs -- JMP Securities -- Analyst
Great. Thank you. And if I could sneak one last one in for Juho, can you please explain the dynamic between the increase in accounts receivable from last quarter to this quarter despite revenues kind of staying flattish?
Juho Parkkinen -- Chief Financial Officer
Well, accounts receivable is timing of invoicing. So, obviously, when we drop an invoice, it shows up in the accounts receivable. So, it's just timing of invoicing.
Owen Hobbs -- JMP Securities -- Analyst
Great. Thank you, guys.
Operator
Thank you. I'd like to --
Tom Siebel -- Chairman and Chief Executive Officer
Ladies and gentlemen, I think we're at end of program. We appreciate your time and your attention and thank you very much, and we look forward to talking with you next quarter. Stand by. It does appear to be game on in the AI industry at global scale.
And I can assure you, we are very much in the game. So, thank you all, and we are signing off.
Operator
Thank you. [Operator signoff]
Duration: 0 minutes
Call participants:
Amit Berry -- Investor Relations
Tom Siebel -- Chairman and Chief Executive Officer
Juho Parkkinen -- Chief Financial Officer
Tim Horan -- Oppenheimer and Company -- Analyst
Mike Cikos -- Needham and Company -- Analyst
Kingsley Crane -- Canaccord Genuity -- Analyst
Unknown speaker
Owen Hobbs -- JMP Securities -- Analyst
More AI analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool recommends C3.ai. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We signed new and expanded agreements with Nucor Corporation; Roche; Con Edison; Hewlett Packard Enterprise; GSK, formerly SmithKline; the United States Navy; the Administration for Children and Families, a division of Health and Human Services; Indorama; and First Bank, among others. We anticipated and announced when we made that transition that it would have a short to medium negative effect on revenue growth, a long-term drag on RPO as the sales price was significantly reduced and the contracts often lacked a time certain multiperiod commitment. The improvement in operating loss versus guidance was driven by timing and amounts of the generative AI-related investments we made to capture market share, as well as our team's ongoing focus on disciplined expense management.
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The application unifies disparate supply data and provides the Defense Logistics Agency the ability to identify supply chain inefficiencies, forecast parts consumption and parts shortage, and conduct impact assessments and put into place mitigation plans. We believed when we made the announcement that the consumption-based pricing model would increase the number of customers and increase the total amount of system consumption, returning -- resulting in a return to increased revenue growth, increased customer growth, decreased average selling price, and decreased RPO over time. [Operator signoff] Duration: 0 minutes Call participants: Amit Berry -- Investor Relations Tom Siebel -- Chairman and Chief Executive Officer Juho Parkkinen -- Chief Financial Officer Tim Horan -- Oppenheimer and Company -- Analyst Mike Cikos -- Needham and Company -- Analyst Kingsley Crane -- Canaccord Genuity -- Analyst Unknown speaker Owen Hobbs -- JMP Securities -- Analyst More AI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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North American revenue of 61.2 million increased 28% year over year, while EMEA revenue of 10.6 million decreased 11% year over year and federal revenue increased 100% year over year. The surge of interest led to our C3 Generative AI qualified pipeline increasing -- of new opportunities, increasing 55% sequentially quarter over quarter in the second quarter, representing the most rapid acceleration of all our product offerings. [Operator signoff] Duration: 0 minutes Call participants: Amit Berry -- Investor Relations Tom Siebel -- Chairman and Chief Executive Officer Juho Parkkinen -- Chief Financial Officer Tim Horan -- Oppenheimer and Company -- Analyst Mike Cikos -- Needham and Company -- Analyst Kingsley Crane -- Canaccord Genuity -- Analyst Unknown speaker Owen Hobbs -- JMP Securities -- Analyst More AI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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Pilot growth, 50% quarter over quarter, 170% year over year. During the quarter, we started 36 pilots, a 50% increase from last quarter. [Operator signoff] Duration: 0 minutes Call participants: Amit Berry -- Investor Relations Tom Siebel -- Chairman and Chief Executive Officer Juho Parkkinen -- Chief Financial Officer Tim Horan -- Oppenheimer and Company -- Analyst Mike Cikos -- Needham and Company -- Analyst Kingsley Crane -- Canaccord Genuity -- Analyst Unknown speaker Owen Hobbs -- JMP Securities -- Analyst More AI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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9c32b593-3c0c-4768-8fa6-57d8ed34f73b
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714301.0
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2023-12-07 00:00:00 UTC
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2 Stocks That Could Create Lasting Generational Wealth
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https://www.nasdaq.com/articles/2-stocks-that-could-create-lasting-generational-wealth-1
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One of the best ways to earn millionaire-making returns is to identify future industry leaders while they're still small. The telltale sign of a future winner is growth and lots of it.
Let's take a look at two relatively small companies that are reporting high revenue growth. These companies' share prices trade at low valuations, potentially setting the stage for above-average returns over the long term.
1. Toast
Toast (NYSE: TOST) is a cloud-based technology platform for restaurants. It helps restaurant owners run their businesses more smoothly with fewer headaches from dealing with outdated legacy software systems. The company's incredible growth suggests it is tackling a massive opportunity that could make the stock a dream investment for retirement savers.
The company's revenue has more than doubled over the last two years, but the stock hasn't kept up with the company's progress. Wall Street continues to worry about near-term issues that don't really matter in the grand scheme of things.
For example, some investors are concerned about Toast's weakening transaction volume growth toward the end of the third quarter. However, Toast still reported revenue growth of 37% year over year as it continued adding new restaurant locations at a healthy clip.
Another reason these concerns are overblown is the stock's bargain valuation. The shares currently trade at a price-to-sales ratio of about 2.25, which is cheap for a fast-growing software company. The market is undervaluing the enormous advantage Toast has in winning over new customers. It added 6,500 new locations in Q3 as word continued to spread about the convenience of using Toast's timesaving software tools.
Toast is still a small business in a huge market. With only $1.2 billion in annualized recurring revenue, Toast can grow at high rates for a long time. There are 22 million restaurants globally, according to Euromonitor, and more restaurants are ramping up their spending on technology. Toast has a great opportunity to emerge as the top brand in the restaurant software market.
If you're looking for a growth stock that can compound in value for potentially decades, Toast is a prime candidate. The company is proving its value, but the stock is dirt cheap. Buying future industry leaders before Wall Street catches on is a recipe for wealth-building returns.
2. StoneCo
StoneCo (NASDAQ: STNE) is a leading fintech company based in Brazil that offers payment services, digital banking, and credit solutions to small businesses.
Brazil's digital payments market is booming and has fueled explosive growth for StoneCo in recent years. Revenue has more than doubled over the last two years, and it should continue to grow for years.
The total transaction value of digital payments in Brazil is expected to reach $108 billion this year, up from $37 billion in 2017. Stone is well positioned to capture this opportunity. Stone's strategy is centered around relationships with small businesses and expanding its range of financial services. It's building a durable competitive advantage, which explains why Warren Buffett's Berkshire Hathaway held $114 million worth of shares at the end of the third quarter.
Stone's 2021 acquisition of Linx stretched its opportunity into the retail software market, where the company is looking to integrate its financial products. This new market should continue to fuel its momentum.
Most importantly, Stone is growing profits through increasing margins. Adjusted net income increased by 35% last quarter, and management sees more opportunities to leverage operating costs and grow profits faster than revenue over the long term.
A big catalyst for the stock is management's guidance for 31% annual growth in adjusted net income through 2027. Investors can ride its future growth on the cheap, with the shares trading at a modest forward price-to-earnings ratio of just 18.5. Investors have an opportunity to buy a leading digital payments provider in one of the fastest-growing e-commerce markets at bargain prices.
10 stocks we like better than Toast
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 Toast 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
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway and StoneCo. The Motley Fool recommends Toast. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These companies' share prices trade at low valuations, potentially setting the stage for above-average returns over the long term. It's building a durable competitive advantage, which explains why Warren Buffett's Berkshire Hathaway held $114 million worth of shares at the end of the third quarter. Adjusted net income increased by 35% last quarter, and management sees more opportunities to leverage operating costs and grow profits faster than revenue over the long term.
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However, Toast still reported revenue growth of 37% year over year as it continued adding new restaurant locations at a healthy clip. Buying future industry leaders before Wall Street catches on is a recipe for wealth-building returns. StoneCo StoneCo (NASDAQ: STNE) is a leading fintech company based in Brazil that offers payment services, digital banking, and credit solutions to small businesses.
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The company's revenue has more than doubled over the last two years, but the stock hasn't kept up with the company's progress. However, Toast still reported revenue growth of 37% year over year as it continued adding new restaurant locations at a healthy clip. See the 10 stocks *Stock Advisor returns as of December 4, 2023 John Ballard has no position in any of the stocks mentioned.
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However, Toast still reported revenue growth of 37% year over year as it continued adding new restaurant locations at a healthy clip. Toast is still a small business in a huge market. The Motley Fool has positions in and recommends Berkshire Hathaway and StoneCo.
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8d785d3c-d54c-4981-a54e-db9beec99a32
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714302.0
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2023-12-07 00:00:00 UTC
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One Growth Stock I Like Better Than Starbucks (NASDAQ:SBUX)
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https://www.nasdaq.com/articles/one-growth-stock-i-like-better-than-starbucks-nasdaq%3Asbux
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Starbucks (NASDAQ:SBUX) has created massive wealth for long-term shareholders ever since the company went public in 1992. In the last 31 years, SBUX stock has returned a whopping 36,850% to shareholders after adjusting for dividends, easily crushing the S&P 500 (SPX), which has returned around 2,000% in dividend-adjusted gains.
Currently valued at $110 billion by market cap, Starbucks is a slow-moving giant. While it might still deliver outsized gains to shareholders, there are several other growth stocks operating in the coffee space, such as Dutch Bros (NYSE:BROS), which should outpace Starbucks from here.
I am bullish on Dutch Bros stock due to its compelling valuation, ability to enter new markets, and improving bottom line.
An Overview of Dutch Bros
Valued at $5 billion, Dutch Bros owns, operates, and franchises drive-thru shops that focus on serving quality hand-crafted beverages. Founded in 1992 by two brothers, the company first began with a single expresso machine and a pushcart in Oregon. It has since expanded its product portfolio to include other customizable beverages catering to a broad array of customers.
Dutch Bros ended Q3 with 794 locations in 16 U.S. states and recorded sales of $847.6 million in the last 12 months.
How Did Dutch Bros Perform in Q3 2023?
Dutch Bros is among the fastest-growing brands in the quick-service restaurants segment in the U.S. It opened 39 new stores in Q3 across 11 states, of which 37 stores were company-operated. It emphasized that all of the new stores continued to be led by regional operators.
A 23.9% increase in its store count allowed Dutch Bros to increase revenue by 33.2% year-over-year to $264.5 million. Further, same-store sales were up 4%, while company-operated store sales were up 36.3% at $236.5 million.
An expanding revenue base allowed Dutch Bros to increase its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) by 90.5% to $53 million, while adjusted net income rose to $22.4 million, up from $14.3 million in the year-ago period.
Dutch Bros’ growth in 2023 is quite impressive, given a sluggish macroeconomic backdrop and tepid consumer spending patterns. Comparatively, Starbucks increased revenue by 11% year-over-year in its most recent quarter, while earnings were up 31% at $1.06 per share.
Due to the massive brand image of Starbucks, it managed to increase same-store sales by 8% year-over-year on the back of higher footfalls.
The Bull Case for Dutch Bros Stock
Dutch Bros is expanding aggressively and expects to end 2023 with 150 new store locations. It eventually aims to open around 4,000 stores, indicating that the runway for long-term growth is massive, given that Starbucks operates around 18,000 stores in the U.S.
Driven by its expansion efforts, Dutch Bros estimates sales in 2023 to range between $950 million and $1 billion, up from $739 million in 2022. The company will invest between $225 million and $250 million in capital expenditures and has allocated about $20 million to a new roasting facility scheduled to open next year.
It's evident that Dutch Bros will have to shore up its balance sheet to fund its growth plans, as it has allocated 25% of sales toward capital expenditures in 2023. In the September quarter, it raised equity capital and increased the limit on its credit facility. Additionally, Dutch Bros improved its gross margin by 400 basis points to 24%, showcasing its pricing power while reducing operating expenses.
These stellar metrics have allowed Dutch Bros to more than double its operating cash flow to $94.9 million in the first nine months of 2023 compared to $42.76 million in the year-ago period. Its cash balance also rose to $149.8 million at the end of Q3, from just $34.56 million in the prior-year quarter, providing Dutch Bros with the liquidity to fuel its growth.
Despite single-digit growth at its existing locations, Dutch Bros reaffirmed its guidance for 2023, driving investor optimism higher.
Is BROS Stock a Buy, According to Analysts?
Out of the 10 analysts covering BROS stock, five recommend a Buy, five recommend a Hold, and none recommend a Sell. The average BROS stock price target is $34, which is 23.2% above the current price.
Dutch Bros is forecast to report revenue of $1.63 billion in 2024, while adjusted earnings should grow to $0.36 per share, according to analysts. Therefore, BROS stock is priced at three times forward sales and 76x forward earnings, which is quite steep. However, growth stocks command a premium valuation, and analysts expect Dutch Bros to expand earnings by over 47% annually in the next five years.
Comparatively, Starbucks stock is valued at 23.5x forward earnings, but its earnings are forecast to grow by "just" 17% annually in the next five years.
The Takeaway
Dutch Bros has the ability to deliver game-changing returns to long-term shareholders if it can grow its store count at a sustainable pace. The company will have to generate operating cash flows much higher than its annual capital expenditures to avoid raising equity or debt capital.
Currently, Dutch Bros is ticking most boxes for growth investors in terms of robust sales growth and improving profitability, making it a top investment choice right now.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It's evident that Dutch Bros will have to shore up its balance sheet to fund its growth plans, as it has allocated 25% of sales toward capital expenditures in 2023. Additionally, Dutch Bros improved its gross margin by 400 basis points to 24%, showcasing its pricing power while reducing operating expenses. The Takeaway Dutch Bros has the ability to deliver game-changing returns to long-term shareholders if it can grow its store count at a sustainable pace.
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A 23.9% increase in its store count allowed Dutch Bros to increase revenue by 33.2% year-over-year to $264.5 million. The Bull Case for Dutch Bros Stock Dutch Bros is expanding aggressively and expects to end 2023 with 150 new store locations. However, growth stocks command a premium valuation, and analysts expect Dutch Bros to expand earnings by over 47% annually in the next five years.
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While it might still deliver outsized gains to shareholders, there are several other growth stocks operating in the coffee space, such as Dutch Bros (NYSE:BROS), which should outpace Starbucks from here. An expanding revenue base allowed Dutch Bros to increase its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) by 90.5% to $53 million, while adjusted net income rose to $22.4 million, up from $14.3 million in the year-ago period. The Bull Case for Dutch Bros Stock Dutch Bros is expanding aggressively and expects to end 2023 with 150 new store locations.
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A 23.9% increase in its store count allowed Dutch Bros to increase revenue by 33.2% year-over-year to $264.5 million. Further, same-store sales were up 4%, while company-operated store sales were up 36.3% at $236.5 million. The company will invest between $225 million and $250 million in capital expenditures and has allocated about $20 million to a new roasting facility scheduled to open next year.
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dcb0510d-d7f9-4930-96ef-d43bbc839822
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714303.0
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2023-12-07 00:00:00 UTC
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ANALYSIS-Market bets for 2024 thrown into chaos by US recession conundrum
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https://www.nasdaq.com/articles/analysis-market-bets-for-2024-thrown-into-chaos-by-us-recession-conundrum
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By Naomi Rovnick
LONDON, Dec 7 (Reuters) - Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it.
The lack of consensus among forecasters is a stark contrast to a year ago, when most predicted a U.S. recession and rapid rate cuts that failed to materialise. The world's largest economy expanded by 5.2% in the third quarter of this year.
The divisions this year have produced a scattergram of projections for the U.S. interest rate path and how global assets that are influenced by the Federal Reserve's actions will perform.
Market participants are therefore bracing for a bumpy start to the new year after a strong rally last month for both stocks and bonds based on a short-term consensus that inflation and interest rates are on a firm downward path.
"Whether the U.S. has a hard landing or a soft landing will dominate the market," said Sonja Laud, chief investment officer at Legal & General Investment Management.
"The narrative isn't clear yet," she added, noting that if current interest rate forecasts "were to shift significantly that creates significant volatility" IRPR.
Options trading data shows that investors are becoming increasingly interested in protecting their portfolios from heightened stock market volatility ahead.
ALL TOGETHER...NOT
Economists polled by Reuters predict 1.2% U.S. GDP growth for 2024 on average.
But while forecasters are united that the Fed's most aggressive rate hiking cycle in decades will cause a slowdown, they are split on whether 2024 will also include a couple of quarters of economic contraction that may prompt rate cuts and weaken the dollar.
Amundi, Europe's largest asset manager, now expects a U.S. recession in the first half of 2024, meaning the group is negative on the dollar and likes emerging market assets.
In foreign exchange, Japan's yen will be the market's "bright spot" as the Bank of Japan is expected to finally move away from its ultra-easy monetary policy, said Amundi CIO Vincent Mortier.
The yen is trading around 147 per dollar JPY=EBS, not too far from 30-year lows.
Morgan Stanley, however, sees no recession and reckons the Fed may keep rates high well into next year. It views the dollar index =USD rising to 111 points from 104 currently, the euro EUR=EBS dropping to $1 and the yen recovering only moderately to 142 per dollar.
STOCKS, UP OR DOWN?
For U.S. stocks, which drive world equity markets, forecasters are divided between what Citi head of trading strategy Stuart Kaiser calls the "converts and disciples" of last year's strong recession consensus.
"Some bears are (still) very dedicated and believe that if it didn't happen this year it has to happen next year," Kaiser said.
Deutsche Bank predicts a mild U.S. recession in the first half of 2024 and a whopping 175 basis points of rate cuts, with lower borrowing costs driving the S&P 500 share index .SPX to 5,100 points. The S&P 500 has gained 19% this year to 4,567.
JP Morgan views a recession as possible and the S&P finishing the year at 4,200, while Goldman Sachs sees only limited recession risk.
Equity analysts' estimates of S&P 500 earnings are currently the most dispersed since the COVID-19 pandemic, according to Blackrock Investment Institute (BII).
LGIM, which manages roughly $1.5 trillion of assets, is underweight equities and expects a U.S. downturn, Laud said.
Some investors meanwhile had moved beyond the U.S. economy debate to seek other opportunities.
Luca Paolini, chief strategist at Pictet Asset Management, said the firm's big call was for gains in European equities, which they believed were undervalued .STOXX.
BONDS ARE BACK
Most economic forecasters agree that a global inflation surge is over. But whether this means dramatic rate cuts, which generally raise bond prices as yields fall, is not something investors agree on either.
Bond giant PIMCO puts the probability of a U.S. recession in 2024 at 50% and recommends government debt over equities.
HSBC fixed income strategists target a 3% yield for the benchmark 10-year U.S. Treasury by late 2024, down from about 4.3% currently US10YT=RR.
But Adrian Gray, global chief investment officer at Insight Investment Management, said government bond markets had moved too exuberantly already.
"We're seeing the Fed, the European Central Bank and the Bank of England all cutting (rates) from around Q3 next year," he said.
"Right now, government bond markets are pricing in more than that," he said, projecting yields would rise "a little," from here.
U.S. recession debate produces scattergram of 2024 forecasts https://tmsnrt.rs/3R91Vlq
US 10-year Treasury yield https://tmsnrt.rs/3NfBedT
US gross domestic product https://tmsnrt.rs/47LvsZc
(Reporting by Naomi Rovnick; editing by Dhara Ranasinghe and Emelia Sithole-Matarise)
((Naomi.Rovnick@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 Naomi Rovnick LONDON, Dec 7 (Reuters) - Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it. Market participants are therefore bracing for a bumpy start to the new year after a strong rally last month for both stocks and bonds based on a short-term consensus that inflation and interest rates are on a firm downward path. For U.S. stocks, which drive world equity markets, forecasters are divided between what Citi head of trading strategy Stuart Kaiser calls the "converts and disciples" of last year's strong recession consensus.
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By Naomi Rovnick LONDON, Dec 7 (Reuters) - Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it. But Adrian Gray, global chief investment officer at Insight Investment Management, said government bond markets had moved too exuberantly already. U.S. recession debate produces scattergram of 2024 forecasts https://tmsnrt.rs/3R91Vlq US 10-year Treasury yield https://tmsnrt.rs/3NfBedT US gross domestic product https://tmsnrt.rs/47LvsZc (Reporting by Naomi Rovnick; editing by Dhara Ranasinghe and Emelia Sithole-Matarise) ((Naomi.Rovnick@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 Naomi Rovnick LONDON, Dec 7 (Reuters) - Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it. Market participants are therefore bracing for a bumpy start to the new year after a strong rally last month for both stocks and bonds based on a short-term consensus that inflation and interest rates are on a firm downward path. For U.S. stocks, which drive world equity markets, forecasters are divided between what Citi head of trading strategy Stuart Kaiser calls the "converts and disciples" of last year's strong recession consensus.
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Amundi, Europe's largest asset manager, now expects a U.S. recession in the first half of 2024, meaning the group is negative on the dollar and likes emerging market assets. For U.S. stocks, which drive world equity markets, forecasters are divided between what Citi head of trading strategy Stuart Kaiser calls the "converts and disciples" of last year's strong recession consensus. "Right now, government bond markets are pricing in more than that," he said, projecting yields would rise "a little," from here.
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2023-12-07 00:00:00 UTC
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Australia's Santos, Woodside in early merger talks to form $52 bln oil giant
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https://www.nasdaq.com/articles/australias-santos-woodside-in-early-merger-talks-to-form-%2452-bln-oil-giant
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Dec 7 (Reuters) - Australian oil and gas giants Woodside Energy WDS.AX and Santos STO.AX are in preliminary discussions over a potential merger, the companies said on Thursday, in line with a global trend of consolidation among energy firms.
The combination of two of the country's largest listed oil and gas producers would create a merged energy behemoth with a market value of almost A$80 billion ($52.48 billion) amid rising pressures of decarbonisation, with both the firms facing hurdles around their growth projects.
Woodside said the discussions were confidential and incomplete and that there was no certainty if any transaction would eventuate.
There have been existing pressures to simplify the Australian oil and gas sector, which has seen two recent big-cap mergers with Woodside combining with BHP's petroleum division and Santos acquiring Oil Search.
The discussions between Woodside and Santos come less than 18 months after Woodside completed a merger with BHP Group's BHP.AX oil and gas business, while the company grapples in getting final approvals over its A$16.5 billion Scarborough venture in Western Australia, its biggest growth project.
Both Woodside and Santos had in their annual investor briefings flagged challenging near-term production prospects along with soaring capital expenditure and regulatory hurdles to their ongoing projects.
Santos wants to restart work on the Barossa project once it finishes a fresh round of talks with conventional landowners.
Firms trying to create value through better funding options and cost reductions amid depressed share prices could also be a potential factor behind the energy majors' possible merger.
Woodside has dropped 15.4% this year so far, whereas smaller rival Santos is down 4.3%.
($1 = 1.5244 Australian dollars)
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Rashmi Aich)
((Rishav.Chatterjee@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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Both Woodside and Santos had in their annual investor briefings flagged challenging near-term production prospects along with soaring capital expenditure and regulatory hurdles to their ongoing projects. Santos wants to restart work on the Barossa project once it finishes a fresh round of talks with conventional landowners. Firms trying to create value through better funding options and cost reductions amid depressed share prices could also be a potential factor behind the energy majors' possible merger.
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Adds details and background throughout Dec 7 (Reuters) - Australian oil and gas giants Woodside Energy WDS.AX and Santos STO.AX are in preliminary discussions over a potential merger, the companies said on Thursday, in line with a global trend of consolidation among energy firms. The combination of two of the country's largest listed oil and gas producers would create a merged energy behemoth with a market value of almost A$80 billion ($52.48 billion) amid rising pressures of decarbonisation, with both the firms facing hurdles around their growth projects. There have been existing pressures to simplify the Australian oil and gas sector, which has seen two recent big-cap mergers with Woodside combining with BHP's petroleum division and Santos acquiring Oil Search.
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Adds details and background throughout Dec 7 (Reuters) - Australian oil and gas giants Woodside Energy WDS.AX and Santos STO.AX are in preliminary discussions over a potential merger, the companies said on Thursday, in line with a global trend of consolidation among energy firms. There have been existing pressures to simplify the Australian oil and gas sector, which has seen two recent big-cap mergers with Woodside combining with BHP's petroleum division and Santos acquiring Oil Search. The discussions between Woodside and Santos come less than 18 months after Woodside completed a merger with BHP Group's BHP.AX oil and gas business, while the company grapples in getting final approvals over its A$16.5 billion Scarborough venture in Western Australia, its biggest growth project.
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The combination of two of the country's largest listed oil and gas producers would create a merged energy behemoth with a market value of almost A$80 billion ($52.48 billion) amid rising pressures of decarbonisation, with both the firms facing hurdles around their growth projects. Woodside said the discussions were confidential and incomplete and that there was no certainty if any transaction would eventuate. The discussions between Woodside and Santos come less than 18 months after Woodside completed a merger with BHP Group's BHP.AX oil and gas business, while the company grapples in getting final approvals over its A$16.5 billion Scarborough venture in Western Australia, its biggest growth project.
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2023-12-07 00:00:00 UTC
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Quanta (PWR) Hikes Dividend by 12.5% to Boost Investors' Value
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https://www.nasdaq.com/articles/quanta-pwr-hikes-dividend-by-12.5-to-boost-investors-value
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Quanta Services, Inc.’s PWR shares jumped 1.28% in the last trading session after it announced a 12.5% quarterly dividend hike to enhance its stockholders’ value.
The company boosted its quarterly dividend to 9 cents per share (36 cents annually) from 8 cents (32 cents annually). The hike was approved by the company’s board of directors and will be paid on Jan 12, 2024, to its stockholders of record as of Jan 2. The dividend yield, based on the latest payout and closing market price of $191.85 (as o Dec 6, 2023), is approximately 0.17%.
This hike is reflective of its confidence in the stability of the base business, long-term prospects and solid financial position. A dividend increase not only enhances shareholder returns but also raises a stock’s market value. In fact, companies often tend to attract new investors and retain the old ones through this strategy.
Image Source: Zacks Investment Research
The stock rose 27.6% in the past year compared with the Zacks Engineering - R and D Services industry’s 21.4% growth.
What Led to the Dividend Increase?
Quanta has been benefiting from the rising demand for sustainable energy solutions. The year 2024 exhibits continuous widespread growth opportunities for infrastructure solutions and increased project activity associated with renewable generation.
The company reported impressive earnings and revenues for third-quarter 2023, which increased 26.6% and 26%, respectively, year over year. The upside was backed by solid demand for its services driven by customers’ multi-year programs designed to modernize and harden utility infrastructure, increase renewable generation and transmission infrastructure and move toward a reduced-carbon economy.
This specialty contracting services provider achieved strong double-digit growth in adjusted EBITDA (up 26.8%) and adjusted earnings per share, which is reflective of the benefits of its operations portfolio strategy and strategic capital deployment.
It reported a 12-month backlog of $17.02 billion and a total backlog of $30.1 billion at September 2023-end, up from the year-ago figures of $12.43 billion and $20.87 billion, respectively. This compares favorably with the December 2022-end’s 12-month backlog of $13.79 billion and the total backlog of $24.09 billion.
The company has been capitalizing on megatrends to lead the energy transition and enable technological development. Initiatives toward a reduced-carbon economy continue to drive the demand for PWR’s services and depict incremental growth opportunities.
PWR has been banking on a solid project execution strategy and three pronged growth plans, which emphasize the timely delivery of projects to exceed customer expectations, leveraging the core business to expand in complementary adjacent service lines and consistently explore new service lines.
Backed by the above-mentioned tailwinds, Quanta raised its full-year guidance. It now expects revenues in the range of $20.1-$20.4 billion compared with the prior guidance of $19.6-$20 billion. The company now expects adjusted EPS (non-GAAP) in the range of $7.00-$7.20 compared with the previous projection of $6.90-$7.30. Adjusted EBITDA is now projected to be between $1.91 billion and $1.95 billion compared with the prior guidance of $1.88-$1.97 billion.
Zacks Rank & Key Picks
The company currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Construction sector have been discussed below.
Gates Industrial Corporation plc GTES manufactures engineered power transmission and fluid power solutions. GTES currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GTES’ expected earnings growth rate for 2023 is 10.5%. The consensus mark for GTES’ 2023 earnings has moved north to $1.26 per share from $1.21 in the past 30 days.
M-tron Industries, Inc. MPTI currently sports a Zacks Rank #1. MPTI delivered a trailing four-quarter average earnings surprise of 35.6%.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year's level.
Willdan Group, Inc. WLDN is a nationwide provider of professional, technical and consulting services to utilities, government agencies and private industry.
WLDN presently sports a Zacks Rank #1. Its expected earnings growth rate for 2023 is 50%.
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Quanta Services, Inc. (PWR) : 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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Quanta Services, Inc.’s PWR shares jumped 1.28% in the last trading session after it announced a 12.5% quarterly dividend hike to enhance its stockholders’ value. The year 2024 exhibits continuous widespread growth opportunities for infrastructure solutions and increased project activity associated with renewable generation. Willdan Group, Inc. WLDN is a nationwide provider of professional, technical and consulting services to utilities, government agencies and private industry.
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The upside was backed by solid demand for its services driven by customers’ multi-year programs designed to modernize and harden utility infrastructure, increase renewable generation and transmission infrastructure and move toward a reduced-carbon economy. Gates Industrial Corporation plc GTES manufactures engineered power transmission and fluid power solutions. Click to get this free report Quanta Services, Inc. (PWR) : Free Stock Analysis Report Willdan Group, Inc. (WLDN) : Free Stock Analysis Report Gates Industrial Corporation PLC (GTES) : 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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Image Source: Zacks Investment Research The stock rose 27.6% in the past year compared with the Zacks Engineering - R and D Services industry’s 21.4% growth. PWR has been banking on a solid project execution strategy and three pronged growth plans, which emphasize the timely delivery of projects to exceed customer expectations, leveraging the core business to expand in complementary adjacent service lines and consistently explore new service lines. Click to get this free report Quanta Services, Inc. (PWR) : Free Stock Analysis Report Willdan Group, Inc. (WLDN) : Free Stock Analysis Report Gates Industrial Corporation PLC (GTES) : 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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Image Source: Zacks Investment Research The stock rose 27.6% in the past year compared with the Zacks Engineering - R and D Services industry’s 21.4% growth. It now expects revenues in the range of $20.1-$20.4 billion compared with the prior guidance of $19.6-$20 billion. You can see the complete list of today’s Zacks #1 Rank stocks here.
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2023-12-07 00:00:00 UTC
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3 EV Stocks to Buy with Better Electric Trucks than Tesla
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https://www.nasdaq.com/articles/3-ev-stocks-to-buy-with-better-electric-trucks-than-tesla
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Tesla (NASDAQ:TSLA) finally began rolling out the long-awaited Cybertruck last week. After waiting for years to see the futuristic vehicle’s debut, fans and investors alike were excited to see it on the road.
However, Wall Street analysts predict that it won’t move the needle for TSLA stock and so far, they’ve been correct. That might be because the product isn’t living up to the expectations set by CEO Elon Musk. The Cybertruck’s promised range actually requires a separate battery pack that takes up space in the truck’s bed.
And as The Verge reports:
“Musk had no interest in turning the highly successful Model 3 into a truck. Instead, he wanted something straight out of Blade Runner. The result? Angular, dystopian, impractical, and depending on who you ask, kind of goofy-looking. The stainless steel body would emphasize every scratch and fingerprint. The misaligned panels were familiar to anyone who’s owned a Tesla. The truck bed couldn’t even hold that much stuff. And the windshield wiper… well, let’s just say it won’t be doing much wiping.”
Criticisms of the Cybertruck don’t stop there. Ryan Cooper of The American Prospect describes it as “just possibly the dumbest vehicle ever produced,” due to the many problems with its design that are likely to make scaling production difficult.
These scathing reviews are likely to steer potential buyers away from the Cybertruck and toward companies turning out better products. Thankfully for investors, several companies have well-established electric trucks that have already helped drive growth for EV stocks.
These companies have successfully held their own against Tesla. That’s not likely to change in the age of the Cybertruck.
Rivian (RIVN)
Source: Tada Images / Shutterstock.com
Rivian (NASDAQ:RIVN) is a company that has stood its ground in a volatile 2023. Shares are up more than 30% over the past six months, and Wall Street analysts remain bullish on it. Needham has been pounding the table on the company, describing Rivian as uniquely positioned to ride out the current market conditions.
While Rivian’s trucks are expensive, the company recently took a major step forward and made its R1T electric pickup available for leasing in 14 states. That could help get more trucks onto the road as more consumers become familiar with Rivian’s technology.
Additionally, Rivian is coming up on the end of its exclusivity contract with Amazon (NASDAQ:AMZN), which will enable it to make deals with new partners. As InvestorPlace contributor Vandita Jadeja sees it, this earns it a place among the best EV stocks to buy for the coming year.
Ford (F)
Source: D K Grove / Shutterstock.com
Following the recent United Auto Workers (UAW) strike, Ford (NYSE:F) is still struggling to regain lost ground. That doesn’t mean it won’t bounce back, though.
This respected legacy automaker has a wide array of vehicles, including the classic F-150 pickup truck which it has wisely taken electric. This model is well known to American buyers who have chosen to drive it for generations. Ford has allowed them to continue driving their favorite truck while saving on fuel costs. Reviews of the F-150 Lighting have been positive, especially as the truck’s functionality extends beyond on-road travel. Per WIRED:
“You can start to think of this as less of a truck, and more of a rolling battery bank for off-grid homes. For those with solar systems who might otherwise have shelled out tens of thousands of dollars on an equivalent amount of home battery storage, this is a mobile battery 10 times the size of a 13.5-kWh, $9,200 Tesla Powerwall … one that you can drive. For a certain type of buyer, that makes the F-150 Lighting a subsidy simply by existing.”
Despite its recent losses and production delays, Ford is well equipped to be back on track in 2024. At the same time, the UAW could be coming for Tesla, which might make it even harder for the company to meet its production goals for the Cybertruck and other vehicles. Snapping up F stock now while it is still trading at low levels could be an excellent move for investors who don’t mind waiting for EV market conditions to improve.
EV Stocks to Buy: General Motors (GM)
Source: Katherine Welles / Shutterstock.com
For decades, Ford’s biggest rival has been Chevrolet. And even in the age of electric vehicles, some things don’t change. Owned by General Motors (NYSE:GM), Chevy has followed Ford’s example with the 2024 Chevrolet Silverado EV Work Truck, the EV version of a truck that American drivers have long loved. “It’s designed for those who want to get the job done without buying extra features,” reports TechCrunch. But more than that, this new offering should give GM stock an important edge in 2024 as the company gears up for increasing competition.
That’s not the only electric truck that GM has to offer, though. Its brand portfolio also includes the GMC Hummer, which it took electric in 2021. In 2022, InvestorPlace‘s Luke Lango stated that the electric Hummer proved something important: The e best EV stocks to buy weren’t Tesla but the companies that could successfully chip away at Tesla’s market share. The problems regarding the Cybertruck suggest that this thesis will prove correct in the coming year.
On the publication date, Samuel O’Brient did not hold (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.
Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.
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The post 3 EV Stocks to Buy with Better Electric Trucks than Tesla 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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Ryan Cooper of The American Prospect describes it as “just possibly the dumbest vehicle ever produced,” due to the many problems with its design that are likely to make scaling production difficult. Snapping up F stock now while it is still trading at low levels could be an excellent move for investors who don’t mind waiting for EV market conditions to improve. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 EV Stocks to Buy with Better Electric Trucks than Tesla appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Tesla (NASDAQ:TSLA) finally began rolling out the long-awaited Cybertruck last week. EV Stocks to Buy: General Motors (GM) Source: Katherine Welles / Shutterstock.com For decades, Ford’s biggest rival has been Chevrolet. In 2022, InvestorPlace‘s Luke Lango stated that the electric Hummer proved something important: The e best EV stocks to buy weren’t Tesla but the companies that could successfully chip away at Tesla’s market share.
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Owned by General Motors (NYSE:GM), Chevy has followed Ford’s example with the 2024 Chevrolet Silverado EV Work Truck, the EV version of a truck that American drivers have long loved. In 2022, InvestorPlace‘s Luke Lango stated that the electric Hummer proved something important: The e best EV stocks to buy weren’t Tesla but the companies that could successfully chip away at Tesla’s market share. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 EV Stocks to Buy with Better Electric Trucks than Tesla appeared first on InvestorPlace.
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Thankfully for investors, several companies have well-established electric trucks that have already helped drive growth for EV stocks. That’s not the only electric truck that GM has to offer, though. In 2022, InvestorPlace‘s Luke Lango stated that the electric Hummer proved something important: The e best EV stocks to buy weren’t Tesla but the companies that could successfully chip away at Tesla’s market share.
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2023-12-07 00:00:00 UTC
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3 No-Brainer Stocks to Buy in December
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https://www.nasdaq.com/articles/3-no-brainer-stocks-to-buy-in-december
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Buying stocks has proved to be one of the best ways to generate wealth over time. The strategy has beat buying gold, bonds, real estate, and even cryptocurrencies. Deutsche Bank (NYSE: DB) analysts found that over the past 100 years, equities beat out gold by 5.6% per year, housing prices by 6.6%, Treasuries by 6.8%, and oil by 8.4%. If you want to become financially independent, the best chance you have is by investing in stocks.
But it’s not going to be a straight line to riches. You will encounter detours on the path in the form of corrections, crashes, and bear markets. However, smart investors understand every sharp price drop is an opportunity to buy stocks at a discount.
Although there have been 27 bear markets in the S&P 500 since 1928, there have been 28 bull markets that followed. On average stocks lose 35% during bear markets, but gain 111% during a bull run. Such downdrafts typically occur every 3.5 years (the last one ended in October 2022), but since World War II they have happened every five years.
That doesn’t mean we have a few years before the next one occurs. One can happen next week — or tomorrow! It does mean you shouldn’t be shaken from your belief to invest in stocks. There are bargains to be bought even if the market is rising now. What follows are three no-brainer stocks to buy in December regardless of how the market goes.
Consolidated Edison (ED)
Source: BrandonKleinPhoto / Shutterstock.com
A regional electric utility like Consolidated Edison (NYSE:ED) makes for a perfect no-brainer stock. ConEd, as it’s known, provides electricity, natural gas, and steam to New York state. Investors typically seek out utility stocks for their safety and their dividends and get both in droves from the New York power company.
ConEd has been in business for 200 years, has paid a dividend for 100 years, and has raised the payout for 49 straight years. That rock-solid track record puts it at the doorstep of being a Dividend King. It also gives ConEd the distinction of having the longest streak of dividend increases for any utility in the S&P 500. It’s why utilities were considered widows-and-orphans stocks. The payout is currently yielding 3.50% annually.
But the utility isn’t going to be a firebrand in your portfolio. It’s not a growth stock. You buy utilities for their reliability. ConEd isn’t able to raise rates at will but relies upon the fair-mindedness of regulators to increase them over time. Utilities need to invest not only in maintaining their infrastructure but also in upgrading and building new systems. They are also entitled to make a profit.
Although utilities used to be monopolies (they still are in many ways), there is more competition now in the energy sector. Still, it makes Consolidated Edison a good choice for the long-term section of your portfolio where a steady income stream can help juice returns.
Cardinal Health (CAH)
Source: Shutterstock
Another no-brainer dividend stock to buy is Cardinal Health (NYSE:CAH). The drug and medical products distributor is one of the largest in the country and serves nearly 90% of all U.S. hospitals, more than 60,000 U.S. pharmacies, and more than 10,000 specialty physician offices and clinics. It also provides more than 3.4 million patients with more than 46,000 home healthcare products.
Pharmaceuticals are its largest revenue source generating over $51 billion in fiscal first-quarter sales. That’s up 11% year over year. The segment is also Cardinal’s most profitable representing 88% of total operating income.
What makes Cardinal Health a no-brainer stock is healthcare is essentially non-negotiable no matter what economic conditions are like. Not only do individuals need their prescriptions, but medical facilities have to provide care and need the pharmaceuticals, equipment, and supplies to provide it. That’s not to say the stock will run in a straight run higher, though shares are up 53% from recent lows.
Cardinal just ran into a problem with its Monoject syringes where a rebranding changed their dimensions. That made them incompatible with infusion pumps from Becton Dickinson (NYSE:BDX) and could lead to injury or death. The Food & Drug Administration warned healthcare providers not to use the syringes after a recall was initiated. This is simply a hiccup on an otherwise profitable trajectory higher.
The distributor recently raised full-year earnings guidance on the strength of its pharmaceutical segment’s results. Cardinal Health expects even stronger profits from the business, which makes its stock an easy choice to recommend.
AeroVironment (AVAV)
Source: Pavel Kapysh / Shutterstock.com
War is an unfortunate global reality. AeroVironment (NASDAQ:AVAV) is a defense contractor whose unmanned vehicles will play an increasingly important role in such conflicts. Artificial intelligence (AI) will end up directing many of these clashes and AeroVironment’s acquisition of Tomahawk Robotics for $120 million shows it plans to be part of the revolution. Tomahawk is a leader in AI-enabled robotic control and integrated communications systems.
AeroVironment just released third-quarter results showing a 62% surge in sales, profits that quadrupled, and a funded backlog up 15% to $487 million. It indicates stronger growth to come in the future.
President and CEO Wahid Nawabi said, “Our optimism not only reflects near-term demand dynamics but also reflects an ongoing shift in battlefield priorities to the more frequent use of distributed, intelligent, multi-domain unmanned systems.”
AeroVironment’s technology will reduce the number of human combatants in future wars. Unfortunately, the civilian toll of war will remain unconscionable.
AeroVironment’s stock is not cheap. It trades at 60 times next year’s earnings and five times sales. As a premiere stock in the industry, though, it can grow into its valuation. I might not back up the truck on this defense stock at these prices, but I still see it as a no-brainer to buy in December.
On the date of publication, Rich Duprey held a LONG position in ED and CAH stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.
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The post 3 No-Brainer Stocks to Buy in December appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The drug and medical products distributor is one of the largest in the country and serves nearly 90% of all U.S. hospitals, more than 60,000 U.S. pharmacies, and more than 10,000 specialty physician offices and clinics. Artificial intelligence (AI) will end up directing many of these clashes and AeroVironment’s acquisition of Tomahawk Robotics for $120 million shows it plans to be part of the revolution. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 No-Brainer Stocks to Buy in December appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Buying stocks has proved to be one of the best ways to generate wealth over time. Consolidated Edison (ED) Source: BrandonKleinPhoto / Shutterstock.com A regional electric utility like Consolidated Edison (NYSE:ED) makes for a perfect no-brainer stock. Cardinal Health (CAH) Source: Shutterstock Another no-brainer dividend stock to buy is Cardinal Health (NYSE:CAH).
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Buying stocks has proved to be one of the best ways to generate wealth over time. ConEd has been in business for 200 years, has paid a dividend for 100 years, and has raised the payout for 49 straight years. Cardinal Health (CAH) Source: Shutterstock Another no-brainer dividend stock to buy is Cardinal Health (NYSE:CAH).
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What follows are three no-brainer stocks to buy in December regardless of how the market goes. ConEd has been in business for 200 years, has paid a dividend for 100 years, and has raised the payout for 49 straight years. It trades at 60 times next year’s earnings and five times sales.
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2023-12-07 00:00:00 UTC
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Why Palantir Technologies Stock Tanked as Much as 15% This Week
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https://www.nasdaq.com/articles/why-palantir-technologies-stock-tanked-as-much-as-15-this-week
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Shares of Palantir Technologies (NYSE: PLTR) fell like a rock this week, tumbling as much as 15.4%, according to data provided by S&P Global Market Intelligence. As of 11:59 a.m. ET on Thursday, the stock was still down 14.9%.
The catalyst that sent the artificial intelligence (AI) and data mining specialist lower were concerns raised by a Wall Street analyst.
A dire warning?
William Blair analyst and recent Palantir bear Louie DiPalma rocked the boat this week when he opined that one of the company's upcoming contract renewals could be disappointing. Palantir has a $458 million contract with the U.S. Army that is up for renewal later this month.
DiPalma suggested there's a "strong indication that Palantir's renewal contract in two weeks will be significantly less than the original $458 million." The analyst went on to speculate that the military contract could be reduced to two years and $116 million, with the total responsibilities being divided up between multiple vendors.
Similar concerns were raised by Barron's, which cited an Army presentation that suggested a disagreement over data ownership had led to a rift.
Here's why the stock is still a buy
It's important to note that the discussions are ongoing, and the contract hasn't yet been renewed. Investors will have to wait until an agreement has been reached between Palantir and the Army, and should refrain from passing judgment until a deal is done.
Palantir has a long and storied history of providing AI and data mining services to the U.S. government and its allies, and the loss or reduction of a contract is something investors should consider. That said, the company has been working to expand its commercial services, which represented 45% of total revenue in Palantir's fiscal 2024 third quarter (ended Sep. 30). Furthermore, its commercial business is growing more quickly, up 23% year over year, compared to government revenue, which grew 12%.
Palantir has been developing AI solutions for more than two decades, and its experience in the field represents a significant competitive advantage. I believe investors should ignore the noise and buy Palantir Technologies stock.
Should you invest $1,000 in Palantir Technologies right now?
Before you buy stock in Palantir Technologies, consider this:
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*Stock Advisor returns as of December 7, 2023
Danny Vena has positions in Palantir Technologies. 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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Shares of Palantir Technologies (NYSE: PLTR) fell like a rock this week, tumbling as much as 15.4%, according to data provided by S&P Global Market Intelligence. William Blair analyst and recent Palantir bear Louie DiPalma rocked the boat this week when he opined that one of the company's upcoming contract renewals could be disappointing. Palantir has a long and storied history of providing AI and data mining services to the U.S. government and its allies, and the loss or reduction of a contract is something investors should consider.
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Palantir has a long and storied history of providing AI and data mining services to the U.S. government and its allies, and the loss or reduction of a contract is something investors should consider. That said, the company has been working to expand its commercial services, which represented 45% of total revenue in Palantir's fiscal 2024 third quarter (ended Sep. 30). Before you buy stock in Palantir Technologies, 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 Palantir Technologies wasn't one of them.
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I believe investors should ignore the noise and buy Palantir Technologies stock. Before you buy stock in Palantir Technologies, 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 Palantir Technologies wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 7, 2023 Danny Vena has positions in Palantir Technologies.
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Palantir has a $458 million contract with the U.S. Army that is up for renewal later this month. Before you buy stock in Palantir Technologies, 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 Palantir Technologies wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 7, 2023 Danny Vena has positions in Palantir Technologies.
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b74ae929-5568-4221-bb91-c7b0777e1b46
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714309.0
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2023-12-07 00:00:00 UTC
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3 Energy Stocks to Buy Hand Over Fist in December
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https://www.nasdaq.com/articles/3-energy-stocks-to-buy-hand-over-fist-in-december
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nan
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The energy industry has been in a phase of transition over the past year as many high-flying pandemic stocks fall to earth and the market grapples with the future of electricity prices and electric vehicle sales. As we near 2024, I think there are some opportunities that the market is overlooking.
After a terrible 2023, renewable energy stocks SunPower (NASDAQ: SPWR) and NextEra Energy Partners (NYSE: NEP) are well positioned for a recovery in 2024, and even an oil company like ExxonMobil (NYSE: XOM) looks like a great buy. Here's why I like these stocks right now.
Image source: Getty Images.
1. SunPower
Higher interest rates hit the solar industry hard in 2023. As rates went up, it became more expensive to finance rooftop solar installations, and that meant companies like SunPower needed to either charge customers more for electricity over time or cut installation costs. Neither happened last year, and both installations and margins struggled as a result.
But 2024 may turn out a little differently. Interest rates have been dropping recently, and the market thinks short-term rates will fall as early as next spring. Inflation is also slowing, which will help both material and labor costs. We have also seen utility prices rise quickly because of inflation and higher commodity costs. According to the U.S. Energy Information Administration, residential utility bills jumped 13% last year, and regulators have approved further increases in 2023.
Add all of these trends up, and SunPower should see better economics in 2024. I think it will be one of the best-performing energy stocks as a result.
2. NextEra Energy Partners
The story for NextEra Energy Partners in 2023 was also about interest rates. The company has to refinance $2.2 billion of debt before 2026 and investors are worried that higher interest payments will lead to lower dividends.
But a recent look at rates shows that they're not rising as fast as you might think and the last few weeks have seen a big drop. NextEra Energy Partners could use this as an opportunistic time to refinance and lock in rates for a very long period.
10-Year Treasury Rate data by YCharts.
Management has also set payout targets that the market doesn't seem to believe right now. For 2023, they have said distributions will be $3.52 per share at an annualized rate by the end of the year, and distributions will grow 4% to 8% through at least 2026. Given the stock price of $25.41 per share, the dividend yield is 13.9%, and I think that's too good to pass up.
3. ExxonMobil
Renewable energy may be taking market share in energy, but the oil and gas business isn't going anywhere. ExxonMobil continues to be extremely profitable, and we have seen the industry overall be more conservative in how it's investing in new production.
That conservatism will help cash flow remain strong and could mean we avoid a massive downcycle when oil and natural gas prices fall during an economic downturn. I think that means ExxonMobil's cash flow will remain strong, and 11.3 times free cash flow is a great price for the stock.
XOM Free Cash Flow data by YCharts.
Note: The gap in the above chart represents negative cash flow.
As a diversified oil major, this is the safest of the three stocks I've covered, but it's a great stalwart to have in any energy portfolio.
Riding the energy tailwinds
The long-term trends are still clear for energy overall. Solar and renewables are taking market share, which should be bullish for SunPower and NextEra Energy Partners. But fossil fuels are also in a cash-generation cycle, and that will help ExxonMobil return cash to shareholders in the long term.
10 stocks we like better than ExxonMobil
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They just revealed what they believe are the ten best stocks for investors to buy right now... and ExxonMobil 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
Travis Hoium has positions in NextEra Energy Partners and SunPower. 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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According to the U.S. Energy Information Administration, residential utility bills jumped 13% last year, and regulators have approved further increases in 2023. The company has to refinance $2.2 billion of debt before 2026 and investors are worried that higher interest payments will lead to lower dividends. That conservatism will help cash flow remain strong and could mean we avoid a massive downcycle when oil and natural gas prices fall during an economic downturn.
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After a terrible 2023, renewable energy stocks SunPower (NASDAQ: SPWR) and NextEra Energy Partners (NYSE: NEP) are well positioned for a recovery in 2024, and even an oil company like ExxonMobil (NYSE: XOM) looks like a great buy. ExxonMobil Renewable energy may be taking market share in energy, but the oil and gas business isn't going anywhere. I think that means ExxonMobil's cash flow will remain strong, and 11.3 times free cash flow is a great price for the stock.
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After a terrible 2023, renewable energy stocks SunPower (NASDAQ: SPWR) and NextEra Energy Partners (NYSE: NEP) are well positioned for a recovery in 2024, and even an oil company like ExxonMobil (NYSE: XOM) looks like a great buy. NextEra Energy Partners The story for NextEra Energy Partners in 2023 was also about interest rates. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Travis Hoium has positions in NextEra Energy Partners and SunPower.
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Here's why I like these stocks right now. SunPower Higher interest rates hit the solar industry hard in 2023. We have also seen utility prices rise quickly because of inflation and higher commodity costs.
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8b9e5517-f9b1-4b34-bdcc-9e2dc81c1589
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714310.0
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2023-12-07 00:00:00 UTC
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Final Interest Rate Decision of 2023 in Focus Next Week
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DCOMP
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https://www.nasdaq.com/articles/final-interest-rate-decision-of-2023-in-focus-next-week
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nan
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The Federal Reserve's interest rate decision is due out next Wednesday, which, along with inflation data, will take up the bulk of investors' attention. On the earnings front, a handful of reports from the likes of Adobe (ADBE), Costco (COST), Darden Restaurants (DRI), and Oracle (ORCL) are on deck.
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
Monday, Dec. 11, starts the week off slow, with no economic data.
The consumer price index (CPI) and core CPI readings are due out on Tuesday, Dec. 12, along with the Federal budget balance
Wednesday, Dec. 13 features the producer price index (PPI) and core PPI, as well as the highly-anticipated interest rate decision from the Federal Reserve.
The usual jobless claims data is scheduled for Thursday, Dec. 14, along with retail sales, imports and exports, business inventories, and the Philadelphia Fed manufacturing survey.
The services purchasing managers' index (PMI) will highlight Friday, Dec. 15, while the New York State manufacturing survey and industrial production data are slated for release as well.
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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On the earnings front, a handful of reports from the likes of Adobe (ADBE), Costco (COST), Darden Restaurants (DRI), and Oracle (ORCL) are on deck. The usual jobless claims data is scheduled for Thursday, Dec. 14, along with retail sales, imports and exports, business inventories, and the Philadelphia Fed manufacturing survey. The services purchasing managers' index (PMI) will highlight Friday, Dec. 15, while the New York State manufacturing survey and industrial production data are slated for release as well.
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The Federal Reserve's interest rate decision is due out next Wednesday, which, along with inflation data, will take up the bulk of investors' attention. Monday, Dec. 11, starts the week off slow, with no economic data. The consumer price index (CPI) and core CPI readings are due out on Tuesday, Dec. 12, along with the Federal budget balance Wednesday, Dec. 13 features the producer price index (PPI) and core PPI, as well as the highly-anticipated interest rate decision from the Federal Reserve.
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The consumer price index (CPI) and core CPI readings are due out on Tuesday, Dec. 12, along with the Federal budget balance Wednesday, Dec. 13 features the producer price index (PPI) and core PPI, as well as the highly-anticipated interest rate decision from the Federal Reserve. The usual jobless claims data is scheduled for Thursday, Dec. 14, along with retail sales, imports and exports, business inventories, and the Philadelphia Fed manufacturing survey. The services purchasing managers' index (PMI) will highlight Friday, Dec. 15, while the New York State manufacturing survey and industrial production data are slated for release as well.
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The Federal Reserve's interest rate decision is due out next Wednesday, which, along with inflation data, will take up the bulk of investors' attention. On the earnings front, a handful of reports from the likes of Adobe (ADBE), Costco (COST), Darden Restaurants (DRI), and Oracle (ORCL) are on deck. Below is a list of key market events scheduled for the upcoming week.
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714311.0
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2023-12-07 00:00:00 UTC
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Veeva Systems (VEEV) Q3 2024 Earnings Call Transcript
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https://www.nasdaq.com/articles/veeva-systems-veev-q3-2024-earnings-call-transcript
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Image source: The Motley Fool.
Veeva Systems (NYSE: VEEV)
Q3 2024 Earnings Call
Dec 06, 2023, 5:00 p.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good day. My name is Krista, and I'll be your conference operator today. At this time, I would like to welcome everyone to Veeva Systems fiscal 2024 third-quarter results conference call. All lines have been placed on mute to prevent any background noise.
After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] Thank you. I will now turn the conference over to Gunnar Hansen, director, investor relations. Gunnar, you may begin your conference.
Gunnar Hansen -- Director, Investor Relations
Good afternoon and welcome to Veeva's fiscal 2024 third-quarterearnings conference callfor the quarter ended October 31st, 2023. As a reminder, we posted prepared remarks on Veeva's investor relations website just after 1 p.m. Pacific today. We hope you have had a chance to read them before the call.
Today's call will be used primarily for Q&A. With me today for Q&A are Peter Gassner, our chief executive officer; Paul Shawah, EVP, commercial strategy; and Brent Bowman, our chief financial officer. During this call, we may make forward-looking statements regarding trends, our strategies, and the anticipated performance of the business, including guidance regarding future financial results. These forward-looking statements will be based on our current views and expectations and are subject to various risks and uncertainties.
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*Stock Advisor returns as of December 4, 2023
Our actual results may differ materially. Please refer to the risks listed in our earnings release and the risk factors included in our most recent filing on Form 10-Q. Forward-looking statements made during the call are being made as of today, December 6th, 2023, based on the facts available to us today. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information.
Veeva disclaims any obligation to update or revise any forward-looking statements. We may discuss our guidance on today's call, but we will not provide any further guidance or updates on our performance during the quarter unless we do so in a public forum. On the call, we may also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. A reconciliation to comparable GAAP metrics can be found in today's earnings release and in the supplemental investor presentation, both of which are available on our website.
With that, thank you for joining us. And I'll turn the call over to Peter.
Peter Gassner -- Chief Executive Officer
Thank you, Gunnar, and welcome, everyone, to the call. We had a solid Q3 with revenue and operating income ahead of guidance, including total revenue of 617 million and non-GAAP operating income of 235 million. As I shared in our prepared remarks, we had a number of great milestones and new product announcements in the quarter as we progressed in building our industry cloud for life sciences. With the growing set of high-value applications, data, and services in R&D and commercial, we can help the industry become more efficient and effective across the even broader range of areas. We have a significant opportunity ahead, and with a focus on product excellence and customer success, we're becoming an essential, strategic partner to the industry.
Now, we'll open up the call to your questions.
Questions & Answers:
Operator
[Operator instructions] Your first question comes from the line of Ken Wong from Oppenheimer. Please go ahead.
Ken Wong -- Oppenheimer and Company -- Analyst
Fantastic. My first question is for Peter or maybe Paul. At Investor Day, you guys talked about getting an emotional commitment from -- from customers to -- to move over to Vault CRM. Looks like you got two written commitments now.
Maybe give us some color into what went into that decision-making process for these -- for these large enterprises. And what kind of signal do you think this might send to the rest of the industry that are potentially looking at Vault CRM?
Paul Shawah -- Executive Vice President, Commercial Strategy
Hey, Ken, thanks for the question. This is Paul. Yeah, so we're super excited about Bayer and GSK. You probably -- everybody on the call may have seen the press releases, but we also had them join us during the keynote and on the main stage at Europe summit, which was last week, super exciting.
So, they essentially answered your question on the main stage, which was why did they select Vault CRM. And it came for them. It came down to something very similar, which was innovation. They were -- they're thinking about the future.
They -- they're excited about the next generation of CRM. And for them, even I'll paraphrase what GSK said because he said it very concisely, it was this idea that, you know, pharma CRM is not a commodity, but it's a small problem, thanks to Veeva. And what that means is this is something that's very hard. It's difficult.
It's something that they've -- they've done multiple CRM implementations in the past, and it's not something they want to spend any energy on. They want a solution that -- that works and that's proven. And they want to be able to innovate and look forward. So, that, in a nutshell, is the reason it's innovation, it's looking forward, it's building for the future.
So, we're -- we're super excited to have -- have both Bayer and GSK talk about their selection.
Ken Wong -- Oppenheimer and Company -- Analyst
Got it. And then, the follow-up for -- for you, Brent. Just as we look at the -- the -- the billings number for -- for the year, you guys trimmed it 40 million. Any way to help us segment how much of that might be the services piece, the FX piece? And I think you kind of mentioned there's a little bit of maybe some combination of duration and timing involved, but would just love to, you know, kind of understand what the moving pieces are that got you to that 40.
Brent Bowman -- Chief Financial Officer
Yeah. Happy -- happy to, Ken. So, about half of it is related to services, so the services reduction we talked about on Investor Day. The balance of it is really split into a couple buckets.
One is on the proportion of quarterly billers versus annual billers in our new business. So, we add a higher mix of quarterly billers than we expected. And then, the other portion of that is related to timing of deals. So, some deals we expected to close in the Q4 time frame.
Now, it's going to be early fiscal year '25. And then, to a smaller extent, there was some FX headwinds as well, so relative to our prior expectations. So, those are the pieces of it, but the biggest portion of it was clearly services.
Ken Wong -- Oppenheimer and Company -- Analyst
OK. Perfect. Thank you.
Brent Bowman -- Chief Financial Officer
Sure.
Operator
Your next question comes from the line of Brian Peterson from Raymond James. Please go ahead.
Brian Peterson -- Raymond James -- Analyst
Hi, guys. Thanks for taking the question. So, I'll start with Brent. You know, I think there's been some debate in the past on how the services business correlates to subscription.
Is that a leading indicator or not? I've gotten the questions from investors, so I'd love any perspective you have on how we should think about the correlation between subscription and services.
Brent Bowman -- Chief Financial Officer
Yeah, services -- yeah, hey, Brian. Services is not a leading indicator. And there's a number of reasons. There's the timing of deals.
There's product requirements are different between the type of product you're buying, customer-specific requirements. So, that's not going to be a good leading indicator. And then, on the subscription side, you have things like ramping deals and pricing and the like. So, there's a number of reasons why those two don't directly correlate, and you shouldn't think of it that way.
Brian Peterson -- Raymond James -- Analyst
Great. And maybe just a follow-up on the marketing automation side. I thought there was an interesting part of the product announcements out at the Investor Day. You know, how do we think about the ramp of that product? And any early feedback or thought process and what your customers are using today? Thanks, guys.
Peter Gassner -- Chief Executive Officer
I'll take that one. The Lilly, we'll start the development of that next year in 2024. So, I think that's something you're seeing from Veeva as a strategic partner. We have a lot of products across R&D and commercial data, software, and services.
So, we're very strategic partner to our customers. So, in general, once we know we're going to do something, we let our customers know so that they can do long-range planning around that. So, in this case, you saw us announce that before -- before we established a development team, for example, for it. So, it's very very early and too early to say what the revenue ramp would be.
In terms of what most of our customers are using, they might use salesforce.com marketing cloud; they might use a product from Adobe. Some of the smaller customers will outsource this -- this to agencies, but those are probably the -- those are the predominant products that are used.
Brian Peterson -- Raymond James -- Analyst
Thank you.
Operator
Your next question comes from the line of Joe Vruwink from Baird. Please go ahead.
Joe Vruwink -- Robert W. Baird and Company -- Analyst
Great. Hi, everyone. You know, in years past, just in this 3Q period, I think Veeva has had a fair amount of visibility and inclination just on the upcoming year because of where Big Pharma customers stand in their budgeting process. I'm wondering if you can maybe compare current visibility on that FY '25 revenue target versus what's been the case over recent history.
And then, just related to that topic, since, you know, Brent, you are calling out some variables, just billings, and this year, you know, how do some of those things you called out maybe start to influence the puts and takes going into 2025?
Brent Bowman -- Chief Financial Officer
Hey, Joe, hi. So, we reiterated the $2.75 billion and -- and the visibility that we have. We -- every -- every day you move forward, you have better visibility. And we -- we have no less visibility than we had a year ago, so similar as we look out in front of us.
And some things to -- to contemplate is we have some multiyear ramping deals that will contribute, you know, a larger amount next year. That's something that comes into play. But we have a long runway for growth. Our visibility is not less than it has been historically.
It's at least as good, and we're confident in our ability to execute to the number.
Joe Vruwink -- Robert W. Baird and Company -- Analyst
That's great. Thanks. And then, I wanted to ask the -- the outlook for the commercial segment. It's gone up more than I expected over the course of this year.
And in the prepared remarks, I think you are referencing commercial content and Link. So, kind of a barbell in that, you have a very mature product growing nicely, and then it's still very early product growing nicely. You know, there's understandably been a lot of focus on CRM of late, but how would you kind of frame performance from the non-CRM piece of commercial and kind of what you're seeing in markets so far to drive what seems like has been upside to your original forecast?
Brent Bowman -- Chief Financial Officer
Yeah, this is Brent. I'll take that one as well. So, we have increased that commercial number through the course of the year. And you put it quite nicely in that it's a combination of our more established products continuing to contribute revenue growth like content.
And then, our newer products like Link really kicking in nicely. And we're still very early days there. And then, the data products, I think you saw in Peter's prepared remarks, really coming along nicely. We're very early days, but we're optimistic in a very long journey there. So, those are the things that we think about.
And Crossix is another one that's contributing, you know, nicely as well to our growth.
Joe Vruwink -- Robert W. Baird and Company -- Analyst
That's great. Thank you very much.
Operator
Your next question comes from the line of Dylan Becker from William Blair. Please go ahead.
Dylan Becker -- William Blair and Company -- Analyst
Hey, guys. Maybe picking on the theme of data here as well. Brent, you just called out Compass. Maybe for – for Paul on that side.
There's a lot of new customer momentum. I know we're releasing some new offerings there early next year, but how do you think about that -- that enthusiasm, maybe kind of validating the strategy and some of the encouraging momentum from customers around that strategy as we think about that -- that upcoming opportunity? I know it's -- it's beyond 2024, but -- but as we think about kind of the going -- or having that kind of full suite as we think about early next year.
Paul Shawah -- Executive Vice President, Commercial Strategy
Yeah. So, it is great validation of what we're doing, we have -- we're excited about. We have a very clear product strategy with what we're doing in data, more broadly, overall, with Data Cloud. We're building the modern data platform.
Compass is a key part of that. We started with patient data. We did announce the expansion of that portfolio at the beginning part of next year with Prescriber and National. So, with -- with those three products in Compass, we're well positioned to be the standard data provider for even the very largest of pharma companies.
And the momentum that you saw in the quarter is a good indicator for us. It's a good indicator that new customers are starting and trialing our data products, but that existing customers are expanding, where we started with one brand and then we expand to an additional brand. So, it is, in fact, a great validation of our product strategy, our commitment to getting the product excellence. So, we're on the right path with -- with Compass.
We feel good about that.
Dylan Becker -- William Blair and Company -- Analyst
Got it. And then, maybe for Peter too, right? As you think about that evolution of Data Cloud to R&D, obviously, a lot of kind of pertinent use cases there. But how do you think about that data standardization playing in with the kind of workflow or process standardization, some of the momentum you're seeing in that clinical suite today, and maybe what the value can accrue from having kind of both a connected workflow and standardized data as we think about development lifecycles as well? Thanks.
Peter Gassner -- Chief Executive Officer
Yeah, I'm really excited about -- about that. I think our clinical opportunity and data can be as large or maybe larger than our commercial one. It really can be large. Now, we're much earlier, so that has to all be proven out.
And there's a very strong, very strong synergy between our software and clinical and -- and the data products that we can build. So, if you look at a big picture, I think we've been working pretty hard at cleaning up the software side of life sciences over the last 15 years, and we've made a lot of progress. Still more to go with adoption, but we've clearly got a great footprint for it. Now, with Data Cloud, I see us cleaning up the industry data and harmonizing the industry data, and then we'll make our data and software work very well together.
So, that's really what -- what we're talking about at the for the Industry Cloud. It's a digital transformation, which is software and data all working together. So, I'm very excited about it. I think the special sauce on the clinical side is clinical data all on its own is not as valuable as clinical data that can work with clinical software.
And I think we're going to revolutionize that area. It'll just take some time.
Dylan Becker -- William Blair and Company -- Analyst
Great. Thank you.
Operator
Your next question comes from the line of Ryan MacDonald from Needham and Company. Please go ahead.
Ryan MacDonald -- Needham and Company -- Analyst
Thanks for taking my questions. This first one for Brent, talked about hiring fewer people in the quarter. And as we just look out into next year, what areas might you be adding still? And how you're thinking about the hiring environment or hiring plan, you know, given that we're starting now to see more and more companies rightsize their organization structure heading into next year again? Thanks.
Brent Bowman -- Chief Financial Officer
Yeah. So, overall, our hiring strategy hasn't -- hasn't changed. You know, we're focused on hiring for growth. And, you know, we're going to -- we're going to focus on areas where we can drive customer success and innovation.
So, that's always been our -- our approach. And we're going to do it in a disciplined way. You saw, in Q3, we had a lower hiring quarter than -- than you had seen in the recent past. And looking out to the balance of fiscal year '24, it's reasonable to expect that lower hiring rate continues.
I'm not going to get into fiscal year '25 at this point. In 90 days, we'll provide our traditional metrics, which would include operating income and margin. And obviously, headcount will be factored into that.
Ryan MacDonald -- Needham and Company -- Analyst
Super helpful. Appreciate the color. Peter, maybe just a follow-up for you. You talked about in the -- in the prepared remarks about some of the newer clinical data products around CDB, RTSM, ePRO.
And at your Analyst Day, you're talking about how this -- this really expands the TAM within that area. As you start to speak with customers -- or prospective customers about some of these newer products, you know, what sort of appetite are you seeing for -- from those customers around development or co-development on some of these newer areas, and sort of willingness to make some of those earlier investments with you in innovation on the product roadmap, you know, amid the evolving environment? Thanks.
Peter Gassner -- Chief Executive Officer
Yeah. A great question about the, you know, clinical data software. You have EDC, which is the core of it, the first thing, and then you have others; CDB, you have we have study, training, we have ePRO, and RTSM. Customers are generally going to be very conservative in that area.
So, really, we have to innovate first and then they will come -- come along, because these are their studies, right? And they've planned these studies for a long time, so they're going to be pretty, pretty conservative. So, I think it's an area that -- that starts slowly. But then it -- for the same reason why it starts slowly, and then it develops momentum. And if customers end up having something that they really like, boy, will they stick with it.
And right now, the industry is not well served. If you look at the sort of, I would say, the professionalism of the ePRO applications out there or the RTSM applications out there, they're not of the level of professionalism of Veeva, of what Veeva is doing. Our products are getting there. So, that's one thing, which is both the product and the services.
And then, I think the real topper is the integration, the process integration, for example, between our RTSM and our ePRO. I had a discussion last week with -- with some clinical leaders at a top 20 pharma. And when we were discussing the integration that we will do between our RTSM and our EDC and how that will affect the prescreening -- the screening process and the ability to get patients into the right trials, you know, this can be transformational. In some cases, when that workflow breaks down, you might lose six months exclusivity on a blockbuster product because the delay of a pivotal trial.
That's money you never get back. So, that's the criticality of these systems, and it causes a little bit of conservatism, right? Well, so I might use your RTSM. Who else is using our RTSM for all of your studies? Well, nobody is yet. You can be first, "Oh, well, hey, I'll just I'll wait and see you on that." So, it's that type of thing.
Hard to get in there. Really hard to get out if you're doing a good job.
Ryan MacDonald -- Needham and Company -- Analyst
Appreciate the color. Helpful anecdotes. Thanks.
Peter Gassner -- Chief Executive Officer
Thanks.
Operator
Your next question comes from the line of Jack Wallace from Guggenheim Securities. Please go ahead.
Jack Wallace -- Guggenheim Partners -- Analyst
Yeah. Thanks for taking my questions. Just wanted to ask about Compass and, you know, the event around science migrating to the Vault CRM platform. How much does Compass come up as a logical upsell here? And is it fair to think about the migration event being a natural upselling opportunity?
Peter Gassner -- Chief Executive Officer
It's a great question to ask about Compass, and I would say they're not the same at all. They're quite disconnected. Compass, in many ways, is a much more strategic decision because that really affects how you apply your resources and -- and Compass is where we're reinventing how you can do data. So, it's a much more strategic decision.
It's related to analytics, and it's purchased at the brand level for brand analytics. So, it has these dynamics. Also, for example, Compass is something we sell to companies that are two years sometimes away from having a field force. They're doing their planning involved, of their market potential.
So, it's quite disconnected versus where CRM is, hey, now you're ready to launch. You just need a system with the full functionality. That's kind of a solved problem. So, there's a Vault CRM playing into that.
On Compass, it's, well, gosh, we've been using IQVIA for 20 years. You're coming with a different approach. Well, hey, we're -- they're really out of phase and they don't depend on each other. Now, it's nice to have multiple products to be able to bring in to a customer so you can provide the full commercial solution, Vault CRM, commercial content, Crossix for your media measurement, Link for your deep data, Compass.
So, we have a lot of things that can fit together. And especially for a smaller company, they will look for that partner, you know, "Hey, I just I need to get all this in a hurry." But in general, those things aren't linked together, and I wouldn't view Vault CRM as a catalyst for Compass. Catalyst for Compass is going to be its product excellence and how we -- well we do on our launch of Prescriber and National anyway.
Jack Wallace -- Guggenheim Partners -- Analyst
Yeah. Thank you. That's helpful. And then, one for Brent around billings.
Just to put a bow around the -- the change in terms -- in cadence of billings. If I -- help me with the math here. If we had a $12 million headwind in the third quarter, does that mean about 6 million of billings from the third quarter slipped into the first half of next year? And then, is that number, say, six to nine from the fourth, so add it all up above the 15 million or so that just due to billings cadence got pushed into '25?
Brent Bowman -- Chief Financial Officer
Yeah, I'm not going to break down to the specific numbers, but I can give you, like, the directional numbers around this. So, I said about half the services. And then, there is the duration piece of it, right? So, then the balance is split pretty much between two buckets with a little bit of FX. So, that duration piece, that's -- that's just a matter of over time, when is that going to -- when it's going to build.
So, we had more quarterly billers than we expected for our new business. So, that's about 25%-ish of -- of the residual. And then, the other piece was literally the timing of deals. Again, some of that was deals that pushed out from the back half of the year into the first part of the year.
So, that's, at the high level, how to break down the buckets. And that's been contemplated in our 2,750 million revenue number for -- for fiscal year '25.
Jack Wallace -- Guggenheim Partners -- Analyst
Got it. Thank you.
Brent Bowman -- Chief Financial Officer
Sure.
Operator
Your next question comes from the line of Stan Berenshteyn from Wells Fargo Securities. Please go ahead.
Stan Berenshteyn -- Wells Fargo Securities -- Analyst
Hi. Thanks for taking my questions. First, Peter, Paul, in the prepared remarks, it was mentioned you had solid bookings for Crossix, including brand expansions. I recall that Crossix has seen some choppy demand in prior quarters.
Is the read there that you're seeing a pickup of activity on this front?
Peter Gassner -- Chief Executive Officer
I guess the reasons are -- some of it is just timing, you know, how things laid out. Also, just solid execution by the Crossix team on the product and on the sales and marketing. And I think some of our competitors also last year sort of maybe oversold what they could actually deliver. So, we had a few potentials where the customers last year went for some things because they were -- they were promised quite a few things, the actual delivery didn't -- didn't match, and so, they -- they, in some cases, went -- came back to Crossix.
In some cases, they -- they went -- went to Crossix for the first time. So, really just solid execution and some timing.
Stan Berenshteyn -- Wells Fargo Securities -- Analyst
Got it. And then, maybe one for Brent. Services gross margin in the quarter, I think, was the highest in eight quarters or so. Is there anything to call out here besides hiring? And how should we think about the progression going forward? Thanks.
Brent Bowman -- Chief Financial Officer
Yeah. We're focused -- from quarter to quarter, you're going to see vacillation in services margins. If you look forward to Q4, Q4 is a lower-margin quarter because of holidays and you have less days to be utilized. But we're always going to focus on, you know, having the right amount of capacity to address the service demand we have.
And, you know, we did a nice job of executing to that in Q3. And you saw a little bit higher, you know, service margin in the quarter, you know. So, the range of margins you've seen over the last four to eight quarters, that's probably a reasonable amount to think about. We're not looking to maximize it to 50% or anything like that.
Operator
Your next question comes from the line of David Windley from Jefferies. Please go ahead.
David Windley -- Jefferies -- Analyst
Hi. Good evening. Thanks for taking my question. Pharma companies -- so, as backdrop, pharma companies have been trying to move clinical -- commercial -- excuse me -- commercial insights deeper into the clinical development stages of their R&D.
Veeva is unique in its span of solutions across clinical and commercial. I'm wondering how much you think about the integration of those solutions across clinical and commercial to drive stickiness of Veeva solutions. How important is the transition of Vault in that effort, and how important is data in that effort? Thank you.
Peter Gassner -- Chief Executive Officer
Hi, it's Peter. I'll take that one. I would say the most important thing that Veeva can deliver in that area is data, data on a common data platform, so enabling the pharma companies to have a common data architecture across specifically commercial and clinical. So, talk about product classes in the same way, disease areas, therapeutic areas in the same way, and so have a common vocabulary and common source of truth for the data on both sides and to be able to interact with key opinion leaders, the same view of a commercial key opinion leader with a -- with a clinical opinion.
That's a key thing, the most important thing that Veeva can do, and I think we're -- we're really the only one setting out to do that. The second one is enabling the process flow between commercial and clinical. So, the connection between, for example, our CTMS system and our CRM system, that's useful. And then, maybe potentially, the biggest barrier is process inside of pharmaceutical companies; do they have processes, do they have operating models, do they have responsibility for enabling that flow.
Our business consulting can really help there, especially as we're building up our business in consulting and clinical. I think we're going to be experts at helping companies with their business process because you're right, I do feel and I know most executives of large pharmaceutical companies feel that there's lost value because their integration process, integration between commercial and clinical, is not where they'd like it to be.
David Windley -- Jefferies -- Analyst
Thank you for that.
Peter Gassner -- Chief Executive Officer
And if --
David Windley -- Jefferies -- Analyst
Sorry. Go ahead.
Peter Gassner -- Chief Executive Officer
Sorry, I see one more. I don't -- I think you can't do that if you're not looking at a common view of the data. You won't be able to accomplish it. That's not sufficient to make that connection happen, but I don't -- but I think it's necessary to make it happen.
David Windley -- Jefferies -- Analyst
That's great. Thank you. As -- as follow-up and on a different topic, just in thinking about pipeline, funnel discussions for -- in your -- your sales team. I think you've talked over multiple quarters, as have others in life sciences, talked about slower decision-making, budget scrutiny.
You mentioned in your prepared remarks, IRA. Could -- could you shed -- I mean, not that you haven't talked about it before, but give us the most updated view on how these kind of macroeconomic and IRA-related effects are affecting decision-making. And do you feel like that is getting worse or getting better? Thank you.
Peter Gassner -- Chief Executive Officer
Yeah. In terms of the interest rates, IRA, global conflicts over the last 60 days, I don't view it as getting worse or better per se. It's kind of staying stable. It does result in questioning on decision-making, conservatism.
It -- it's kind of a damper on innovation for small biotechs who are, "Hey, maybe I'm going to start up a biotech company, I need to raise funding; oh, maybe I can't get funding now, so, I don't start that up. I don't I don't create that research." So, that's a little bit counter. One of the things that has been happening through COVID and this downturn is some -- some deferral things, right? Veeva is -- a lot of the things we do are core capabilities. You're trying to modernize your core capabilities.
During COVID, sometimes, you add other priorities. When there's uncertainty like conflict, interest rates, etc. -- interest rates, etc., OK, priorities shift a little bit. But I do feel there's more deferred maintenance building up, especially in the sort of top 100 life sciences companies, more deferred modernization of systems that -- that's going to have to be taken care of over the next, you know, two or three, four years.
So, I think there's some -- some demand starting to get pent up.
David Windley -- Jefferies -- Analyst
That's great. Thank you.
Operator
Your next question comes from the line of Tyler Radke. Please go ahead.
Tyler Radke -- Citi -- Analyst
Thanks for taking the question, and apologies if you covered this. I've been jumping around a few earnings calls tonight, but I wanted to touch on the top 20 pharmas that you did migrate over to Vault CRM. I'm just curious. Post that announcement, what's the interest in conversations been with others? And then, if you could just share any, you know, milestones or other goals that you have in terms of the number of pharmas that you hope to have, call it, over the next three quarters or years.
Paul Shawah -- Executive Vice President, Commercial Strategy
Yeah. Hey, Tyler, this is Paul. Yeah, so, in terms of -- you mentioned migrations. These companies have announced their selection.
The migration will follow. So, they'll -- they'll do a little bit of services work next year, but you can think of their migration starting in 2025. That's when we are -- we'll have early customers next year. You can think about that as a milestone where we'll have some early customers go through the migration process with us, treat it like an early adopter program like we do with any other product.
So, that's what we'll use next year for. And then, 2025, we'll be ready to scale. So, that's what's next for these companies. They've announced their selection.
They want to be able to communicate that internally and align their organization on what their -- their go-forward strategy is. That's really important for them to get organized and focused and aligned. So, they're -- they've shifted from decision mode to execution mode. Now, in terms of other companies, we're -- we're ready when -- when they are, right? I think this has created some additional urgency.
Our expanded -- our new commercial cloud has created some additional excitement and energy that moving to the Vault platform unlocked a lot of that innovation. But there's no timeline. We're not forcing our customers to go on any particular timeline. I do expect most will go, you know, starting in 2025, but, you know, 2026, '27, that's when you'll start to see the majority of customers moving.
Peter Gassner -- Chief Executive Officer
You know, I would -- if I can just chime in there, also a question about momentum. Our customer summit in Europe, Paul, is over a thousand people there, right? And Bayer were there and GSK were there, and they speak both in a large session and in smaller executive sessions. So, it's certainly a momentum builder, right? Not only that they're going to see the wealth theorem but why, and what was their thought process because these companies are kind of leading the charge. So, great reference selling.
They're also things like we demoed. We did a concept demo of Service Center for the first time live to the customers there. And I think that was very well received. So, the vision starts -- starts to get -- to get -- to get clear and it's building the momentum.
Tyler Radke -- Citi -- Analyst
Got it. And, yeah, sorry, I didn't mean migrations. That would've been impressive if you migrated those customers, and in weeks. I meant more -- the more the signings.
So -- so, good -- good to hear the excitement from other customers. Just as a follow-up, Brent, I know your -- your favorite topping -- topic here on billings, but I guess two quick clarifications. Number one, as we think about the updated normalized billings guide for this year, and you walk through some of the puts and takes that's driving it down, I guess the changes to billings terms and invoicing duration wouldn't -- wouldn't that be normalized, if you will, in the normalized billings, or is the normalization just for TFC? And then, I know you're not guiding the billings for FY '25, but just as we think about the historical relationship between revenue and billings and what does seem to be maybe some modest-duration headwinds, anything to keep in mind there? Thank you.
Brent Bowman -- Chief Financial Officer
Sure. On your first part of your question, so what we normalize is we normalize this for changes in our renewal base. So, if you have an existing customer renewal base, they change frequency or they change duration. We normalize that out.
So, we take the noise out. What we do for new business is we do our best effort to model what we expect the profile of that new business to come in. And so, what you're hearing me say is the expectation we had for new business, there was -- the actual fact pattern was a bit different, so we had more quarterly billers in that new business than we anticipated. We thought we'd have a bit more annual.
So, it's new business, not normalized. It's the renewal portion that we do normalize. And then, your second question is we've we contemplated in the billings, you know, that we are exiting fiscal year '24 in our reiterated fiscal year '25 total revenue number, so $2.75 billion. We feel good about our ability to execute against that.
Operator
Your next question comes from the line of Gabriela Borges from Goldman Sachs. Please go ahead.
Carolyn Valenti -- Goldman Sachs -- Analyst
Hi, this is Carolyn Valenti on for Gabriela. Just one for me and going to be again on the -- on the billings dynamic. But just related to the deals that you talked about being pushed from -- from the back half of this year into early next year, it was clearly a change versus your initial expectations. And I know you said there's nothing incremental in the past 90 days on macro, but can you help us reconcile those two comments a little bit?
Brent Bowman -- Chief Financial Officer
Yeah. I mean you're going to have -- it's going to be customer by customer, right? There is no exact pattern that you can say across the larger cohorts. And the first half of the year, I don't know if you recall, the actual, we had favorable linearity. So, from period to period, it's going to ebb and flow depending on the specific customer, you know, situation, what -- what approvals they require, the size and scale and the complexity of the deal.
So, you know, it's a continuation of what we've seen. Sometimes, it's in your favor; sometimes, it's not. And that's what we saw.
Carolyn Valenti -- Goldman Sachs -- Analyst
Thank you.
Brent Bowman -- Chief Financial Officer
OK. Thank you.
Operator
Your next question comes from the line of Kirk Materne from Evercore ISI. Please go ahead.
Kirk Materne -- Evercore ISI -- Analyst
Yeah. Thanks very much. Paul, just, you know, there's going to be a lot of discussion about migrations over the next couple of years. And how should we think about sort of the services work around all this? Meaning you're going to have a lot of customers obviously, going through the migration process.
How do you make sure that there's not sort of a bottleneck from a services perspective so that -- and maybe there's just not enough work, so it's not that big of a deal. But I was just kind of curious how do you make sure that, you know, the right customers, especially your big ones, are aligned with either your own services capabilities or your GSI partners? You know, just talk about that a little bit. Thanks.
Paul Shawah -- Executive Vice President, Commercial Strategy
Yeah, sure. And one of the things we're laser-focused on right now is making the migration as repeatable as possible. And that's going to include some product work that we're doing to automate some of the migration. But it also includes scaling out the -- the Vault CRM services team.
And we have people now dedicated and focused to that. Part of this is -- focus pays off. And this is -- this is the kind of thing that we think about, and we think about executing really well. Part of our strategy is to -- to execute really well in this area, and we're putting dedicated people on it.
And that's going to help us create the focus but also the team to expand and scale and support customers as they -- we know roughly what that timeline looks like. So, we'll be ready to support it. And I would say the third part of it is enabling our partner ecosystem. So, we are working closely to make sure that they know what our role is, and they know what their role is and how they can help us, and how we can help scale support customers really across the globe.
Remember, this is the U.S., it's Europe, it's Asia, it's Latam. So, we have a lot of customers and we're going to -- we're making sure that we're ready with our own tooling, our services, and our partners.
Kirk Materne -- Evercore ISI -- Analyst
Yeah. And you mentioned that --
Peter Gassner -- Chief Executive Officer
[Inaudible]
Kirk Materne -- Evercore ISI -- Analyst
Go ahead, please.
Peter Gassner -- Chief Executive Officer
I'll chime in there a little bit. One way to think about is you had a big -- big bolus of work around data and CRM here in between 2012 and 2017. Roughly speaking, maybe we move, you know, somewhere around half the market, a bit less than that from Siebel or CISM or some other things to be -- this year. And that was a big bowl of work that was done by Veeva Services and our partners like Accenture and regional partners over a five-year period.
Now, we have this five-year period from 2025 to 2030. We probably have about as much work to do. Now we have more movement to do because we have to move, you know, 90% of the industry over, but the effort is less -- less than -- significantly less than half of the -- of the effort. And certainly, in the migration, it's less than half.
So, we have to mobilize our own services and the partners to do that. But these are things that -- that we know how to do.
Kirk Materne -- Evercore ISI -- Analyst
That's helpful, Peter. Thanks for dimensionalizing that. And then, Brent, one more just on billings, you know, in terms of the -- the duration changes that you're seeing, are these bigger customers that just want to break it up into bite-sized pieces from a payments perspective, smaller customers just trying to save cash? I was just wondering if there's any commonality that -- that you're seeing that's -- that's sort of hitting duration right now. I realize it fluctuates, but has anything changed I guess, on that front? Thanks.
Brent Bowman -- Chief Financial Officer
Yes -- yeah, nothing fundamentally changed. That means, specifically, a couple of the larger items were simple co-terms. So, you have -- they're just co-terming to their -- the number of deals they have onto a common date. So, it's nothing more fundamental than that.
Kirk Materne -- Evercore ISI -- Analyst
Great. Thank you, all.
Brent Bowman -- Chief Financial Officer
Sure.
Operator
Your next question comes from the line of Jailendra Singh from Truist Securities. Please go ahead.
Jailendra Singh -- Truist Securities -- Analyst
Thank you and thanks for taking my questions. Given the sort of macro issues you guys have talked about, I was just curious how are price increase conversations trending so far, especially in an environment when macro has got a little challenging. So, making sure you guys still feel good about your 4% price increase expectations for next year.
Peter Gassner -- Chief Executive Officer
I can take that one. Overall, we're not doing price increases. We are doing -- we keep up with the CPI, and we're doing it in a very customer-friendly way. We're capping that by 4%, and we're doing that in arrears by giving the customers at least eight months' notice depending on when their order forms is.
So, no, it's going well, and I definitely don't view it as a price increase. It's very predictable from Veeva, so the macro is not really affecting that.
Jailendra Singh -- Truist Securities -- Analyst
OK, and then my follow-up is around the -- the comment you had in your prepared remarks about data marketing life science moving somewhat slower than the software market, and you called out anti-competitive behavior from one of your peers. Can you elaborate more on that? Is that something you have observed more recently after you push in this market? And how does -- those market dynamics impact your approach and generally just push in this market?
Peter Gassner -- Chief Executive Officer
Yeah, I called out the behavior of our competitor. I know that's not a dynamic -- decent dynamic. I've been aware of that for more than 10 years. And of course IQVIA has been in court multiple times for this.
So, it's not a -- it's just not a new dynamic. I just felt in the prepared remarks to call it out that, in data, it can be a bit slower moving because of the conservative in that area -- conservatism in that area. That's understandable. And then, the anti-competitive behavior of IQVIA also creates significant barriers there, because let's say the customer is using IQVIA data for one data product, and we're selling one data product.
And our services are necessary to -- to mix those two data products together to provide a solution for the customer as well, IQVIA is not going to allow us to do that. They're not going to grant, let's call, the third-party agreement. So, that's what slows things down. But we're making great progress, and it's easier for a small company when they start up.
So, I think, next year, you'll see some smaller companies commercializing for the first time that just decide, "Look, I'm going to be IQVIA-free for my whole life, and I'm going to start out that way. I don't I don't need to deal with that old stuff anymore." I think that's going to happen. But, you know, it's -- that's a long way from, hey, most of the top 20 using Veeva for most of their data products, for most of their brands, that's a -- that's a 15-year journey.
Jailendra Singh -- Truist Securities -- Analyst
Great. Thanks a lot.
Peter Gassner -- Chief Executive Officer
Thank you.
Operator
Thank you. Your next question comes from the line of Craig Hettenbach from Morgan Stanley. Please go ahead.
Craig Hettenbach -- Morgan Stanley -- Analyst
Thank you. Just following up on the Bayer and GSK commentary. Is there anything in particular about those customer relationships that made it logical for them to be early adopters on Vault CRM? And how are you thinking about the cadence for additional customers from an announcement perspective like next year?
Paul Shawah -- Executive Vice President, Commercial Strategy
Yeah, quite a good question. And every -- every customer is unique. They're all in their own different stages, whether that's things related to their business or their pipeline or when they may have product launches. GSK and Bayer, we have had good long -- long-standing partnerships with -- with both companies for a very long time.
And their thinking, they -- they both had this idea of -- of leading thinking. We want to put the decision-making process behind us and we want to start focus on executing. They were confident -- they did their due diligence. They very quickly became very confident in their answer and their approach.
So, they wanted to put a clear stake on the ground and make that decision and communicate it and now shift into execution mode. So, I would say, you know, just strong partnership. We've delivered very well and consistently for them for a very very long time. They trust Veeva, so they're ready to -- ready to move forward.
In terms of other customers and the rest of the market, we're certainly in conversations with the rest of top 20. All of the large enterprise companies, of course, our small and medium-sized customers, many of those conversations have started. It's not a mathematical thing. You won't see -- we know we have the next roughly five or six years, but it's not mathematical.
It's dependent upon many different factors and variables. So, I would think of it as we're in that early customer stage right now, and then, over time, you'll start to see it ramp. And yeah, you know, some of these you may not see announcements. I think the way to think about it is we'll -- we'll provide updates when there's kind of a material update to give. You may not see an announcement from -- for every customer, but it will -- when there's something material, we'll kind of let the -- let the Street know.
Craig Hettenbach -- Morgan Stanley -- Analyst
That's helpful. Thanks, Paul. And, Peter, you made a comment regarding the IRA in terms of small biotech innovation. That's certainly in focus here.
I'm curious, just your larger pharma companies, any feedback you're hearing from them, whether it's maybe trade-offs they're making as they kind of manage around this? Any feedback there?
Peter Gassner -- Chief Executive Officer
Yeah, they're looking at that in terms of their product planning; where will they invest, should they invest in that molecule, should they delay running a trial or accelerate running a trial. So, certainly, it affects their -- their planning. But, you know, pharma is good at that. They have to adjust to these factors -- these government factors around the globe.
And I think they're -- they're adjusting, and it may become the new -- new normal in a in a year or two. No -- no dramatic change, but it's just causing some adjustments.
Craig Hettenbach -- Morgan Stanley -- Analyst
Thank you.
Operator
Your next question comes from the line of Charles Rhyee from TD Cowen. Please go ahead.
Unknown speaker
Hi, this is Lucas on for Charles. I want to ask about the development cloud and the subscription growth framework you guys have going forward. If I look back at the Investor Day slides where you guys break out customers and products per customer, it shows that you guys are seeing fewer total products sold in the development cloud through fiscal first half. At the same time, you're guiding to 22% to 23% growth in 4Q after accounting for the impact of TFC, which is a step down from 3Q and 2Q.
You guys have noted that you're not seeing any impact from macro and subs quite yet, but this is a notable step down in growth. Is this an indication that the segment is starting to mature a bit, and that we should think about this category growing at a more mature rate going forward? And then, understanding that we'll get guidance at the next print, but is this 22% growth rate at TFC a good jumping-off point for R&D subs growth in fiscal '25?
Brent Bowman -- Chief Financial Officer
Yes, so to your point, we reiterated the fiscal year '25 guide at 2.75 billion. So, clearly, that factors in subscription and services in the mix underneath that. What we did see was timing when you talk about in the year. So, there's some timing that impact fiscal year '24 that will have less of an impact on fiscal year '25.
But importantly, we have a long runway for growth in front of us. You know, we're -- very early days and across the portfolio, specifically in R&D. And -- and to your point, we'll get into the details in about 90 days.
Unknown speaker
OK. Thanks.
Brent Bowman -- Chief Financial Officer
Thank you.
Operator
Your next question comes from the line of Brent Bracelin from Piper Sandler. Please go ahead.
Hannah Rudoff -- Piper Sandler -- Analyst
Hi, guys. This is Hannah Rudoff on for Brent. Thanks for taking my questions. Encouraged to hear about your early traction with Vault CRM.
For those six non-Vault Veeva CRM customers you landed in the quarter, do most of them plan to migrate to Vault CRM before that 2030 deadline, or is that even part of the discussion when you're signing with them?
Paul Shawah -- Executive Vice President, Commercial Strategy
Yeah. So, we did have -- we had a good strong quarter with CRM overall. So, we had nine wins. And you're right, some of them are on Veeva CRM.
And each of those is a discussion with the customer and what's right for them and -- based on their timing. And yes, of course, that's the -- that's the strategy is to they'll start on Veeva CRM, and then at some point before 2030, they'll -- they'll move over to Vault CRM. And certainly, for some of these -- these customers that are now doing Veeva CRM, that transition path becomes pretty clear and very very clean. So, they -- they have full awareness and knowledge, and that's part of the strategy.
Hannah Rudoff -- Piper Sandler -- Analyst
Great. Super helpful. And then, at your European commercial summit, other than Vault CRM, what commercial developments were customers most excited to hear about?
Paul Shawah -- Executive Vice President, Commercial Strategy
Yeah, gosh, you're asking me to pick one. We had -- we had a very lively Europe summit. So -- and part of that is related to, you know, we now have our commercial products, our software products that are moving in all part of the Vault platform. So, that unlocks a lot of potential for us.
So, we were able to announce quite a bit. One is that Peter alluded to the Service Center demo. Remember, we announced that five or six months ago at our U.S. summit, and now we demoed it live.
So, really strong execution that resonated really well. The announcements around marketing and patients -- patient CRM were certainly appreciated. And then, in the data space, we had a new data announcement around Pulse data. And Peter talked a lot about that during our Investor Day.
But more broadly, what we're doing in data, the innovation we're bringing, we're bringing in data by creating this common data architecture. So, you asked for one thing. I gave you four or five, but it was -- it was really a -- it's kind of an action-packed summit with lots of announcements. And we created a lot of momentum in multiple different areas.
Hannah Rudoff -- Piper Sandler -- Analyst
[Inaudible]
Peter Gassner -- Chief Executive Officer
I think that you hear -- hear a lot of -- there's a lot of excitement around modular content and the commercial content areas as well, right? That -- that track was very lively because we've done things over the last year in modular product content, and now it's sitting adopted in the field. So, there's great excitement over that one too.
Paul Shawah -- Executive Vice President, Commercial Strategy
For sure. And -- and that -- and just to -- to go into that a little bit deeper, we're executing really well on the commercial content side and modular content. But as we think about what Vault allows us to do, it's bringing that content closer to the engagement channel. It's a platform that uniquely supports both of those content and the engagement, whether it's the sales channel or field, medical, or even marketing in the future.
So, it's -- it's highly unique in that -- that we're in a -- we're in a unique position to be able to solve that -- that content distribution from -- the term you created, in a very modular, efficient way, all the way to the time it gets out to the end customer, whether it's a marketing channel or a sales channel. So, yeah, that was also another exciting announcement.
Hannah Rudoff -- Piper Sandler -- Analyst
Super helpful commentary. Thank you.
Operator
Your next question comes from the line of Brad Sills from Bank of America. Please go ahead.
Brad Sills -- Bank of America Merrill Lynch -- Analyst
Oh, great. Thank you so much. I wanted to ask about the comments on, you know, some of the deals flipping that affected the quarterly billings into next year. Any more color there? I mean, we typically hear about deals slipping and then -- and then they close in the subsequent quarter.
So, what -- what are the puts and takes that are impacting that? And what gives you that confidence that these will close next year? Thank you.
Peter Gassner -- Chief Executive Officer
I'll take that one. These deals are different, but I would say, by and large, just timing that gets pushed out by some random bounces of the ball and some conservatism and extra -- extra scrutiny. So, that's what it is. What gives us confidence is the competitive environment is stronger than ever, right? So, that's what gives us real confidence, both in each of our product areas, and then customers seeing that we can bring complete solutions across R&D and commercial software and data.
Also, the customers being slightly a bit more conservative. They're not -- customers are spending less on speculative projects, so they tend to go more toward Veeva and core capabilities. So, that's what gives me even more confidence about our strong market position. And then, since our products aren't optional, over time, I have a lot of -- I have a lot of confidence that our market share -- we're in a better market position than we were 12 months ago.
Brad Sills -- Bank of America Merrill Lynch -- Analyst
Wonderful. Thank you. And then, if you could comment, please, Peter, on just the clinical deal pipeline and how -- how that's been impacted. You know, it would seem less impacted by -- by the macro because it's trial-related.
But these are also big transformational projects if it's a new customer, for example. So, any -- any commentary or observations on how the macro is impacted that clinical business, which is such a critical growth driver? Thank you.
Peter Gassner -- Chief Executive Officer
Yeah, we have a small amount of our businesses in the clinical, and the very small customers maybe that have under 500 employees, under 300 employees. So, that's certainly impacted because sometimes people can't get the funding to do the trial or they go out of business. So, that's impacted specifically. Other than that, the general conservatism doesn't impact clinical any more than it would be regulatory or safety or quality.
These are -- these are large infrastructure projects. We know they're -- and -- and they're just having a bit more -- more scrutiny than they used to.
Brad Sills -- Bank of America Merrill Lynch -- Analyst
Understood. Thank you, Peter.
Operator
Your next question comes from the line of Richard Poland from RBC Capital Markets. Please go ahead.
Rishi Jaluria -- RBC Capital Markets -- Analyst
Yeah. Hey, this is actually Rishi Jaluria from RBC. Not sure why it's put my colleague's name, but thanks so much for taking my question. I actually wanted to ask two questions around generative AI.
First, I would love to maybe drill a little bit into kind of a theme that we've been hearing more as we've been doing our conversations in industry, which is that, as generative AI is working behind clinical trials, it is leading to maybe more of a tailwind toward personalized and precision medicine, which feels like not only should benefit your CMS platform, but even on the data side, what you have with Compass. Correct me if I'm wrong, it seems like it's maybe a little bit more tailored to that. So, maybe you could help us understand some of the trends that you're seeing out there and how that can play out. And then, I've got a quick follow-up.
Peter Gassner -- Chief Executive Officer
You know, in terms of a generative AI, honestly, I haven't seen a big impact in clinical. There was good experimentation and projects around helping to write or evaluate protocols, for example, but not using things like generative AI to do statistical analysis or predict where the patients are. I think they're the more appropriate tool which people are using and continue to use more and more of is data science, right, having the right data, running the right algorithms, being systematic about it. So, yeah, I just haven't seen that impact of generative AI.
You see it more in other areas that relate to content creation and -- and asking -- asking of questions, writing safety narratives, things like that.
Rishi Jaluria -- RBC Capital Markets -- Analyst
Got it. No, that's -- that's really helpful. And then, maybe just picking on -- on the theme of clinical and gen AI, well, coming off the EU commercial summit, I'm sure you heard a lot of use cases from customers that they want to explore around gen AI on the commercial side. I think a lot of those are very straightforward.
Maybe on the clinical side, right, I mean, we've talked a little bit about CMS, but I imagine there's a lot of data you had to find around content, including regulatory submissions to the FDA. You know, I imagine there's probably use cases around the type of language that people can use to expedite their approvals and so on and so forth. Maybe you could talk a little bit about what sort of use cases you're hearing from customers that they want you to be part of when it comes to the clinical side of the equation. That'd be really helpful.
Thank you.
Peter Gassner -- Chief Executive Officer
Yeah. Some are just very straightforward, what's called clinical master data, who are the investigators, who are in the sites around the world, and what is their patient characteristics like. That's hugely important for -- for site selection but also -- also for recording your internal operations, how efficient are you. Then so, that's what we've called open data clinical.
Site-based is the deep profiles around all the sites and investigators, all their specialties, all their -- all their activities. So, that's, again, for -- for more detailed site selection. And then clinical posts, that's something we've announced, which we'll be producing next year. And that's things like, OK, I'm a pharmaceutical company and I've picked these two milestones to measure, what's the -- what's the time between my -- my last patient visit and my -- lock of my clinical database.
And I'm a pharmaceutical company, what's my time there; OK, now, what's the industry's average time there so that I can start to see am I ahead behind there, what's my opportunity for improvement or not. And that's just one measurement. So, I think it's those three areas that customers are excited about from the Veeva clinical master data. The deep data specifically around site selection, critically important, and then the clinical pulse to optimize their internal business processes and benchmark against the industry.
Rishi Jaluria -- RBC Capital Markets -- Analyst
Wonderful. Thank you so much.
Operator
We have no further questions in our queue at this time. I will now turn the call over to Peter Gassner, chief executive officer, for closing remarks.
Peter Gassner -- Chief Executive Officer
I'd like to close by thanking our customers for their trust and partnership, and our employees for their continued commitment to our values and do the right thing; customer success, employee success, and speed. Thank you.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Gunnar Hansen -- Director, Investor Relations
Peter Gassner -- Chief Executive Officer
Ken Wong -- Oppenheimer and Company -- Analyst
Paul Shawah -- Executive Vice President, Commercial Strategy
Brent Bowman -- Chief Financial Officer
Brian Peterson -- Raymond James -- Analyst
Joe Vruwink -- Robert W. Baird and Company -- Analyst
Dylan Becker -- William Blair and Company -- Analyst
Ryan MacDonald -- Needham and Company -- Analyst
Jack Wallace -- Guggenheim Partners -- Analyst
Stan Berenshteyn -- Wells Fargo Securities -- Analyst
David Windley -- Jefferies -- Analyst
Tyler Radke -- Citi -- Analyst
Carolyn Valenti -- Goldman Sachs -- Analyst
Kirk Materne -- Evercore ISI -- Analyst
Jailendra Singh -- Truist Securities -- Analyst
Craig Hettenbach -- Morgan Stanley -- Analyst
Unknown speaker
Hannah Rudoff -- Piper Sandler -- Analyst
Brad Sills -- Bank of America Merrill Lynch -- Analyst
Rishi Jaluria -- RBC Capital Markets -- Analyst
More VEEV analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool has positions in and recommends Veeva Systems. 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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So, if you look at a big picture, I think we've been working pretty hard at cleaning up the software side of life sciences over the last 15 years, and we've made a lot of progress. First, I would love to maybe drill a little bit into kind of a theme that we've been hearing more as we've been doing our conversations in industry, which is that, as generative AI is working behind clinical trials, it is leading to maybe more of a tailwind toward personalized and precision medicine, which feels like not only should benefit your CMS platform, but even on the data side, what you have with Compass. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
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And you mentioned that -- Peter Gassner -- Chief Executive Officer [Inaudible] Kirk Materne -- Evercore ISI -- Analyst Go ahead, please. Hannah Rudoff -- Piper Sandler -- Analyst [Inaudible] Peter Gassner -- Chief Executive Officer I think that you hear -- hear a lot of -- there's a lot of excitement around modular content and the commercial content areas as well, right? Operator [Operator signoff] Duration: 0 minutes Call participants: Gunnar Hansen -- Director, Investor Relations Peter Gassner -- Chief Executive Officer Ken Wong -- Oppenheimer and Company -- Analyst Paul Shawah -- Executive Vice President, Commercial Strategy Brent Bowman -- Chief Financial Officer Brian Peterson -- Raymond James -- Analyst Joe Vruwink -- Robert W. Baird and Company -- Analyst Dylan Becker -- William Blair and Company -- Analyst Ryan MacDonald -- Needham and Company -- Analyst Jack Wallace -- Guggenheim Partners -- Analyst Stan Berenshteyn -- Wells Fargo Securities -- Analyst David Windley -- Jefferies -- Analyst Tyler Radke -- Citi -- Analyst Carolyn Valenti -- Goldman Sachs -- Analyst Kirk Materne -- Evercore ISI -- Analyst Jailendra Singh -- Truist Securities -- Analyst Craig Hettenbach -- Morgan Stanley -- Analyst Unknown speaker Hannah Rudoff -- Piper Sandler -- Analyst Brad Sills -- Bank of America Merrill Lynch -- Analyst Rishi Jaluria -- RBC Capital Markets -- Analyst More VEEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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I would say the most important thing that Veeva can deliver in that area is data, data on a common data platform, so enabling the pharma companies to have a common data architecture across specifically commercial and clinical. Hannah Rudoff -- Piper Sandler -- Analyst [Inaudible] Peter Gassner -- Chief Executive Officer I think that you hear -- hear a lot of -- there's a lot of excitement around modular content and the commercial content areas as well, right? Operator [Operator signoff] Duration: 0 minutes Call participants: Gunnar Hansen -- Director, Investor Relations Peter Gassner -- Chief Executive Officer Ken Wong -- Oppenheimer and Company -- Analyst Paul Shawah -- Executive Vice President, Commercial Strategy Brent Bowman -- Chief Financial Officer Brian Peterson -- Raymond James -- Analyst Joe Vruwink -- Robert W. Baird and Company -- Analyst Dylan Becker -- William Blair and Company -- Analyst Ryan MacDonald -- Needham and Company -- Analyst Jack Wallace -- Guggenheim Partners -- Analyst Stan Berenshteyn -- Wells Fargo Securities -- Analyst David Windley -- Jefferies -- Analyst Tyler Radke -- Citi -- Analyst Carolyn Valenti -- Goldman Sachs -- Analyst Kirk Materne -- Evercore ISI -- Analyst Jailendra Singh -- Truist Securities -- Analyst Craig Hettenbach -- Morgan Stanley -- Analyst Unknown speaker Hannah Rudoff -- Piper Sandler -- Analyst Brad Sills -- Bank of America Merrill Lynch -- Analyst Rishi Jaluria -- RBC Capital Markets -- Analyst More VEEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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We have a lot of products across R&D and commercial data, software, and services. So, they'll -- they'll do a little bit of services work next year, but you can think of their migration starting in 2025. Operator [Operator signoff] Duration: 0 minutes Call participants: Gunnar Hansen -- Director, Investor Relations Peter Gassner -- Chief Executive Officer Ken Wong -- Oppenheimer and Company -- Analyst Paul Shawah -- Executive Vice President, Commercial Strategy Brent Bowman -- Chief Financial Officer Brian Peterson -- Raymond James -- Analyst Joe Vruwink -- Robert W. Baird and Company -- Analyst Dylan Becker -- William Blair and Company -- Analyst Ryan MacDonald -- Needham and Company -- Analyst Jack Wallace -- Guggenheim Partners -- Analyst Stan Berenshteyn -- Wells Fargo Securities -- Analyst David Windley -- Jefferies -- Analyst Tyler Radke -- Citi -- Analyst Carolyn Valenti -- Goldman Sachs -- Analyst Kirk Materne -- Evercore ISI -- Analyst Jailendra Singh -- Truist Securities -- Analyst Craig Hettenbach -- Morgan Stanley -- Analyst Unknown speaker Hannah Rudoff -- Piper Sandler -- Analyst Brad Sills -- Bank of America Merrill Lynch -- Analyst Rishi Jaluria -- RBC Capital Markets -- Analyst More VEEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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2716e2aa-4223-4514-84ec-641a14664467
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714312.0
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2023-12-07 00:00:00 UTC
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Why ChargePoint Stock Jumped 11% on Thursday
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DCOMP
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https://www.nasdaq.com/articles/why-chargepoint-stock-jumped-11-on-thursday
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ChargePoint (NYSE: CHPT) stock ran ahead 11% through 11:40 a.m. ET on Thursday despite reporting disappointing earnings (losses, actually) last night, and a big miss on sales to boot.
Now, heading into fiscal Q3 2024, analysts had forecast that the provider of charging services for electric cars would lose $0.22 per share on sales of $122.4 million -- so Wall Street already wasn't feeling particularly optimistic about the quarter. And yet ChargePoint still managed to disappoint, reporting losses last night nearly twice as big as feared ($0.43 per share), as well as sales of only $110.3 million.
ChargePoint's Q3 earnings news
Those sales fell 10% year over year, by the way -- moving in the opposite direction from what you'd expect from a growth stock. Similarly, gross profit margins got worse, declining four full percentage points from a year ago, to -22%.
Really, about the only thing "growing" at ChargePoint, I fear, was losses. The $158.2 million in net losses on the bottom line was nearly twice as bad as the $84.5 million the company lost in fiscal Q3 2023.
If that's the case, though -- if the quarter was so lousy -- then it's worth asking why investors are buying ChargePoint stock today instead of selling it.
ChargePoint's Q4 guidance
The usual answer when a company reports lousy earnings but its stock goes up anyway is that the company must have given strong guidance for the coming quarter -- and that's true for ChargePoint today (sort of).
After laying out the bad news on Q3, CEO Rick Wilmer told investors he hopes to do considerably better in Q4, saying ChargePoint is "firmly committed to delivering positive non-GAAP (generally accepted accounting principles) adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) in the fourth quarter of calendar year 2024." If investors are taking this statement at face value, and interpreting "firm commitment" as a promise to turn around the business and deliver profits in Q4, that might explain their enthusiasm for the stock today.
But what is Wilmer really telling us here?
Non-GAAP earnings is a pro forma number that can mean basically whatever the company that invents it wants it to mean. In ChargePoint's case, non-GAAP losses in Q3 were only $106.3 million, nearly $52 million better than the company's actual GAAP loss for the quarter. Thus, even if ChargePoint does achieve positive "non-GAAP" earnings in Q4, it's entirely possible the company will still be unprofitable under GAAP.
And in fact, according to analysts polled by S&P Global Market Intelligence, this is exactly what you should expect to see: negative profits from ChargePoint in 2023, in 2024, and in 2025 -- in fact, negative profits all the way out to 2029, with the company only finally turning profitable (maybe) in 2030.
Long story short, no matter how many investors are buying ChargePoint stock today, in my book this stock is still a sell.
Should you invest $1,000 in ChargePoint right now?
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Rich Smith 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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Now, heading into fiscal Q3 2024, analysts had forecast that the provider of charging services for electric cars would lose $0.22 per share on sales of $122.4 million -- so Wall Street already wasn't feeling particularly optimistic about the quarter. After laying out the bad news on Q3, CEO Rick Wilmer told investors he hopes to do considerably better in Q4, saying ChargePoint is "firmly committed to delivering positive non-GAAP (generally accepted accounting principles) adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) in the fourth quarter of calendar year 2024." If investors are taking this statement at face value, and interpreting "firm commitment" as a promise to turn around the business and deliver profits in Q4, that might explain their enthusiasm for the stock today.
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After laying out the bad news on Q3, CEO Rick Wilmer told investors he hopes to do considerably better in Q4, saying ChargePoint is "firmly committed to delivering positive non-GAAP (generally accepted accounting principles) adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) in the fourth quarter of calendar year 2024." In ChargePoint's case, non-GAAP losses in Q3 were only $106.3 million, nearly $52 million better than the company's actual GAAP loss for the quarter. Before you buy stock in ChargePoint, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and ChargePoint wasn't one of them.
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ChargePoint's Q4 guidance The usual answer when a company reports lousy earnings but its stock goes up anyway is that the company must have given strong guidance for the coming quarter -- and that's true for ChargePoint today (sort of). Before you buy stock in ChargePoint, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and ChargePoint wasn't one of them. See the 10 stocks *Stock Advisor returns as of December 7, 2023 Rich Smith has no position in any of the stocks mentioned.
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After laying out the bad news on Q3, CEO Rick Wilmer told investors he hopes to do considerably better in Q4, saying ChargePoint is "firmly committed to delivering positive non-GAAP (generally accepted accounting principles) adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) in the fourth quarter of calendar year 2024." In ChargePoint's case, non-GAAP losses in Q3 were only $106.3 million, nearly $52 million better than the company's actual GAAP loss for the quarter. Before you buy stock in ChargePoint, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and ChargePoint wasn't one of them.
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b6e6068d-3a1a-47a3-a2db-a4d3b3418319
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714313.0
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2023-12-06 00:00:00 UTC
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Wearable Tech 2.0: 3 Companies Innovating Beyond the Smartwatch
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https://www.nasdaq.com/articles/wearable-tech-2.0%3A-3-companies-innovating-beyond-the-smartwatch
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
While the broader wearable technologies space has attracted legions of everyday consumers, smartwatch stocks deserve to be on your radar for one very simple reason: the massive total addressable market for innovations classified under wearable tech 2.0.
According to Grand View Research, the global wearable tech market reached a valuation of $61.3 billion last year. Further, experts project that by 2030, the sector will hit revenue of $186.14 billion. If so, this tally would represent a compound annual growth rate (CAGR) of 14.6%. That bodes well for wearable tech stocks. But that might be an underestimate.
If Mordor Intelligence’s report is to be believed, by 2028, this consumer innovation segment could see a valuation of over $419 billion. Of course, we won’t know until we know. However, just the prospect of such an expansive arena may entice speculators to investments targeting wearable tech 2.0.
On that note, it’s time to consider the below smartwatch stocks.
Garmin (GRMN)
Source: Karolis Kavolelis / Shutterstock.com
As one of the leaders in innovative solutions for the consumer market, Garmin (NYSE:GRMN) easily ranks among the top smartwatch stocks. Featuring a range of product offerings, Garmin caters to both the casual jogger and dedicated athletic professionals. Perhaps most notably, the company banks on its Fenix 7 Pro, its most advanced multi-sports watch to date.
Featuring excellent GPS and navigation tools, runners can go on long-distance trips and make their way back safely. That’s also a testament to the battery of up to 89 hours when using GPS. When on standby, battery lift can go up to 37 days. In addition, the Fenix 7 Pro offers biometric tracking along with an LED safety torch in case Murphy’s law happens to strike.
Financially, it’s hard to argue with Garmin’s robust financials. With a cash-to-debt ratio of 15.27x and excellent margins leading to consistent annual profitability, GRMN represents one of the most predictable wearable tech stocks. However, GRMN is already up about 33% so investors may want to wait a bit for a better entry.
Vuzix (VUZI)
Source: zixia / Shutterstock.com
Near the opposite end of the spectrum to Garmin is Vuzix (NASDAQ:VUZI), a multinational technology firm. Headquartered in Rochester, New York, Vuzix supplies wearable virtual reality (VR) and augmented reality (AR) display products. In addition to the obvious relevance to 3D gaming applications, the enterprise also serves in the fields of manufacturing training and military tactical operation.
Indeed, VUZI offers much more than your run-of-the-mill candidates for smartwatch stocks. Rather, through its augmented eyewear, on-the-job training protocols can be disseminated quickly and in a more productive manner. That’s because the underlying smart glasses provide visual cues to training seminars, making learning much more interactive. As well, the advancement carries strong implications for the medical field.
Undeniably, then, VUZI symbolizes one of the most exciting wearable tech stocks. Unfortunately, investors will be absorbing heavy risks, with shares down 40% since the January opener. Also, the company hasn’t posted an annual profit since 2012. Nevertheless, analysts rate shares a consensus moderate buy with a $7 price target, implying 224% upside.
Wearable Devices (WLDS)
Source: Apple Special Event September 10, 2019
Easily the riskiest idea on this list of investments related to wearable tech 2.0, Wearable Devices (NASDAQ:WLDS) represents a true nano-capitalization play. At the moment, the company carries a market value of only $8.3 million. As you might imagine, WLDS is a literal penny stock, trading hands at only 40 cents. While intriguing, you’ve got to be aware of the extreme volatility risks.
On the positive side, Wearable Devices legitimately offers a case (narrative-wise) as one of the most innovative smartwatch stocks. Practically speaking, one of the problems with smartwatches is that the display is incredibly small. Therefore, it’s tough to navigate through various menu items and features. That’s where Wearable’s proprietary Surface Nerve Conductance (SNC) tech comes in.
To make a long story short, the SNC translates thoughts and hand/finger motions into digital inputs. That makes modulating a smartwatch’s granular display functionality far easier. Of course, the big drawback is the underlying risk-reward profile.
Since its first public trading session, WLDS lost about 83% of equity value. No analyst will cover it, which is also concerning. Still, this is one of the most advanced wearable tech stocks you’ll find.
Penny Stocks
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, Josh Enomoto 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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.
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The post Wearable Tech 2.0: 3 Companies Innovating Beyond the Smartwatch 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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With a cash-to-debt ratio of 15.27x and excellent margins leading to consistent annual profitability, GRMN represents one of the most predictable wearable tech stocks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Wearable Tech 2.0: 3 Companies Innovating Beyond the Smartwatch appeared first on InvestorPlace.
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According to Grand View Research, the global wearable tech market reached a valuation of $61.3 billion last year. Wearable Devices (WLDS) Source: Apple Special Event September 10, 2019 Easily the riskiest idea on this list of investments related to wearable tech 2.0, Wearable Devices (NASDAQ:WLDS) represents a true nano-capitalization play. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Wearable Tech 2.0: 3 Companies Innovating Beyond the Smartwatch appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips While the broader wearable technologies space has attracted legions of everyday consumers, smartwatch stocks deserve to be on your radar for one very simple reason: the massive total addressable market for innovations classified under wearable tech 2.0. Wearable Devices (WLDS) Source: Apple Special Event September 10, 2019 Easily the riskiest idea on this list of investments related to wearable tech 2.0, Wearable Devices (NASDAQ:WLDS) represents a true nano-capitalization play. Penny Stocks On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips While the broader wearable technologies space has attracted legions of everyday consumers, smartwatch stocks deserve to be on your radar for one very simple reason: the massive total addressable market for innovations classified under wearable tech 2.0. That bodes well for wearable tech stocks. Penny Stocks On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day.
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9207638f-0245-4df0-aaad-b2e58a7c1ed0
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714314.0
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2023-12-06 00:00:00 UTC
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Ameriprise Financial Inc Shares Near 52-Week High - Market Mover
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https://www.nasdaq.com/articles/ameriprise-financial-inc-shares-near-52-week-high-market-mover-4
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Ameriprise Financial Inc (AMP) shares closed today at 1.5% below its 52 week high of $358.14, giving the company a market cap of $35B. The stock is currently up 14.3% year-to-date, up 10.6% over the past 12 months, and up 225.6% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 16.5% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.3.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -455.6%
The company's stock price performance over the past 12 months beats the peer average by -225.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 6.5% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Ameriprise Financial Inc (AMP) shares closed today at 1.5% below its 52 week high of $358.14, giving the company a market cap of $35B. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -455.6% The company's stock price performance over the past 12 months beats the peer average by -225.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 6.5% higher than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. MACD, a trend-following momentum indicator, indicates a downward trend. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -455.6% The company's stock price performance over the past 12 months beats the peer average by -225.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 6.5% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -455.6% The company's stock price performance over the past 12 months beats the peer average by -225.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 6.5% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -455.6% The company's stock price performance over the past 12 months beats the peer average by -225.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 6.5% higher than the average peer.
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7d534524-d137-4d8d-b27a-e279f6c8c6ce
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714315.0
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2023-12-06 00:00:00 UTC
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NVR Inc. Shares Approach 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/nvr-inc.-shares-approach-52-week-high-market-mover-1
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nan
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nan
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NVR Inc. (NVR) shares closed today at 1.2% below its 52 week high of $6525.00, giving the company a market cap of $20B. The stock is currently up 38.0% year-to-date, up 38.4% over the past 12 months, and up 155.4% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 37.6% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Consumer Discretionary industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by -56.8%
The company's stock price performance over the past 12 months lags the peer average by -54.6%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 3.0% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Discretionary industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -56.8% The company's stock price performance over the past 12 months lags the peer average by -54.6% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 3.0% higher than the average peer. This story was produced by the Kwhen Automated News Generator.
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NVR Inc. (NVR) shares closed today at 1.2% below its 52 week high of $6525.00, giving the company a market cap of $20B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Discretionary industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -56.8% The company's stock price performance over the past 12 months lags the peer average by -54.6% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 3.0% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Discretionary industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -56.8% The company's stock price performance over the past 12 months lags the peer average by -54.6% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 3.0% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Discretionary industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -56.8% The company's stock price performance over the past 12 months lags the peer average by -54.6% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 3.0% higher than the average peer.
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8f8fe066-ad71-4fc8-961f-b8bc26c7b323
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714316.0
|
2023-12-06 00:00:00 UTC
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General Dynamics Corp. Shares Close in on 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/general-dynamics-corp.-shares-close-in-on-52-week-high-market-mover-0
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nan
|
nan
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General Dynamics Corp. (GD) shares closed today at 0.5% below its 52 week high of $252.85, giving the company a market cap of $68B. The stock is currently up 3.9% year-to-date, up 3.9% over the past 12 months, and up 66.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 10.0% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.5.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by -74.1%
The company's stock price performance over the past 12 months lags the peer average by -80.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -231.4% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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General Dynamics Corp. (GD) shares closed today at 0.5% below its 52 week high of $252.85, giving the company a market cap of $68B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.5. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -74.1% The company's stock price performance over the past 12 months lags the peer average by -80.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -231.4% higher than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -74.1% The company's stock price performance over the past 12 months lags the peer average by -80.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -231.4% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -74.1% The company's stock price performance over the past 12 months lags the peer average by -80.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -231.4% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -74.1% The company's stock price performance over the past 12 months lags the peer average by -80.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -231.4% higher than the average peer.
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daf236fc-ae1f-4429-9dff-288b34f396e6
|
714317.0
|
2023-12-06 00:00:00 UTC
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Stantec Inc Shares Climb 0.1% Past Previous 52-Week High - Market Mover
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DCOMP
|
https://www.nasdaq.com/articles/stantec-inc-shares-climb-0.1-past-previous-52-week-high-market-mover
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nan
|
nan
|
Stantec Inc (STN) shares closed 0.1% higher than its previous 52 week high, giving the company a market cap of $8B. The stock is currently up 62.6% year-to-date, up 62.0% over the past 12 months, and up 256.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 20.9% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 482.0%
The company's stock price performance over the past 12 months beats the peer average by 365.6%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Stantec Inc (STN) shares closed 0.1% higher than its previous 52 week high, giving the company a market cap of $8B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8. The stock closed below its Bollinger band, indicating it may be oversold.
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Stantec Inc (STN) shares closed 0.1% higher than its previous 52 week high, giving the company a market cap of $8B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 482.0% The company's stock price performance over the past 12 months beats the peer average by 365.6%
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 482.0% The company's stock price performance over the past 12 months beats the peer average by 365.6% This story was produced by the Kwhen Automated News Generator. 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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Trading Activity Trading volume this week was 20.9% higher than the 20-day average. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 482.0% The company's stock price performance over the past 12 months beats the peer average by 365.6%
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f5837401-0c66-48b0-adb7-f5e23803d1be
|
714318.0
|
2023-12-06 00:00:00 UTC
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Wyndham Hotels & Resorts Inc Shares Close in on 52-Week High - Market Mover
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DCOMP
|
https://www.nasdaq.com/articles/wyndham-hotels-resorts-inc-shares-close-in-on-52-week-high-market-mover-0
|
nan
|
nan
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Wyndham Hotels & Resorts Inc (WH) shares closed today at 1.7% below its 52 week high of $79.82, giving the company a market cap of $6B. The stock is currently up 10.0% year-to-date, up 10.9% over the past 12 months, and up 66.4% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 22.1% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Communication Services industry sector , lags it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -162.5%
The company's stock price performance over the past 12 months beats the peer average by -167.2%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 24.9% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Wyndham Hotels & Resorts Inc (WH) shares closed today at 1.7% below its 52 week high of $79.82, giving the company a market cap of $6B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Communication Services industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -162.5% The company's stock price performance over the past 12 months beats the peer average by -167.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 24.9% higher than the average peer.
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Wyndham Hotels & Resorts Inc (WH) shares closed today at 1.7% below its 52 week high of $79.82, giving the company a market cap of $6B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Communication Services industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -162.5% The company's stock price performance over the past 12 months beats the peer average by -167.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 24.9% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Communication Services industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -162.5% The company's stock price performance over the past 12 months beats the peer average by -167.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 24.9% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Communication Services industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -162.5% The company's stock price performance over the past 12 months beats the peer average by -167.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 24.9% higher than the average peer.
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9f18649b-55f9-4cd2-b877-6f6c85112221
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714319.0
|
2023-12-06 00:00:00 UTC
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Moelis & Co - Class A Shares Near 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/moelis-co-class-a-shares-near-52-week-high-market-mover
|
nan
|
nan
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Moelis & Co - Class A (MC) shares closed today at 0.3% below its 52 week high of $52.92, giving the company a market cap of $3B. The stock is currently up 41.6% year-to-date, up 33.4% over the past 12 months, and up 92.1% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 23.3% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.2.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 445.5%
The company's stock price performance over the past 12 months beats the peer average by 431.2%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 29147.3% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Moelis & Co - Class A (MC) shares closed today at 0.3% below its 52 week high of $52.92, giving the company a market cap of $3B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.2. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 445.5% The company's stock price performance over the past 12 months beats the peer average by 431.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 29147.3% higher than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Trading Activity Trading volume this week was 23.3% higher than the 20-day average. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 445.5% The company's stock price performance over the past 12 months beats the peer average by 431.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 29147.3% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 445.5% The company's stock price performance over the past 12 months beats the peer average by 431.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 29147.3% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 445.5% The company's stock price performance over the past 12 months beats the peer average by 431.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 29147.3% higher than the average peer.
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94574885-cd23-40c1-adf9-0a5d3edbe848
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714320.0
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2023-12-06 00:00:00 UTC
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Masco Corp. Shares Near 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/masco-corp.-shares-near-52-week-high-market-mover
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nan
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nan
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Masco Corp. (MAS) shares closed today at 0.6% below its 52 week high of $63.75, giving the company a market cap of $14B. The stock is currently up 38.1% year-to-date, up 33.1% over the past 12 months, and up 125.1% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 22.1% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.3.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by -3.1%
The company's stock price performance over the past 12 months lags the peer average by -7.7%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 16.1% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Masco Corp. (MAS) shares closed today at 0.6% below its 52 week high of $63.75, giving the company a market cap of $14B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.3. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -3.1% The company's stock price performance over the past 12 months lags the peer average by -7.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 16.1% higher than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -3.1% The company's stock price performance over the past 12 months lags the peer average by -7.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 16.1% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -3.1% The company's stock price performance over the past 12 months lags the peer average by -7.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 16.1% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -3.1% The company's stock price performance over the past 12 months lags the peer average by -7.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 16.1% higher than the average peer.
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66987614-38e2-47f4-8a7b-3213ee48105c
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714321.0
|
2023-12-06 00:00:00 UTC
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Amphenol Corp. - Class A Shares Close in on 52-Week High - Market Mover
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DCOMP
|
https://www.nasdaq.com/articles/amphenol-corp.-class-a-shares-close-in-on-52-week-high-market-mover-7
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nan
|
nan
|
Amphenol Corp. - Class A (APH) shares closed today at 0.2% below its 52 week high of $92.71, giving the company a market cap of $55B. The stock is currently up 22.1% year-to-date, up 19.1% over the past 12 months, and up 131.8% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 37.0% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.0.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -199.8%
The company's stock price performance over the past 12 months beats the peer average by -183.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 193.3% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Amphenol Corp. - Class A (APH) shares closed today at 0.2% below its 52 week high of $92.71, giving the company a market cap of $55B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.0. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -199.8% The company's stock price performance over the past 12 months beats the peer average by -183.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 193.3% higher than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Trading Activity Trading volume this week was 37.0% higher than the 20-day average. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -199.8% The company's stock price performance over the past 12 months beats the peer average by -183.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 193.3% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -199.8% The company's stock price performance over the past 12 months beats the peer average by -183.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 193.3% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , lags it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -199.8% The company's stock price performance over the past 12 months beats the peer average by -183.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 193.3% higher than the average peer.
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37550504-61e6-4536-8a00-6e89a652dd4c
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714322.0
|
2023-12-06 00:00:00 UTC
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Tri-Continental Corp. Shares Close in on 52-Week High - Market Mover
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DCOMP
|
https://www.nasdaq.com/articles/tri-continental-corp.-shares-close-in-on-52-week-high-market-mover-2
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nan
|
nan
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Tri-Continental Corp. (TY) shares closed today at 1.9% below its 52 week high of $28.24, giving the company a market cap of $1B. The stock is currently up 9.9% year-to-date, up 5.7% over the past 12 months, and up 45.9% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 27.9% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Tri-Continental Corp. (TY) shares closed today at 1.9% below its 52 week high of $28.24, giving the company a market cap of $1B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.
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Tri-Continental Corp. (TY) shares closed today at 1.9% below its 52 week high of $28.24, giving the company a market cap of $1B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis
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Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis This story was produced by the Kwhen Automated News Generator.
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Tri-Continental Corp. (TY) shares closed today at 1.9% below its 52 week high of $28.24, giving the company a market cap of $1B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.
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60f2fc99-cca0-4c3d-a268-2d42ad30b63e
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714323.0
|
2023-12-06 00:00:00 UTC
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IHS Holding Ltd Shares Fall 3.6% Below Previous 52-Week Low - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/ihs-holding-ltd-shares-fall-3.6-below-previous-52-week-low-market-mover
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nan
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nan
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IHS Holding Ltd (IHS) shares closed 3.6% lower than its previous 52 week low, giving the company a market cap of $1B. The stock is currently down 27.3% year-to-date, down 37.2% over the past 12 months, and down 73.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 24.3% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by -951.3%
The company's stock price performance over the past 12 months lags the peer average by 1001.1%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9. The stock closed below its Bollinger band, indicating it may be oversold. This story was produced by the Kwhen Automated News Generator.
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IHS Holding Ltd (IHS) shares closed 3.6% lower than its previous 52 week low, giving the company a market cap of $1B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -951.3% The company's stock price performance over the past 12 months lags the peer average by 1001.1%
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -951.3% The company's stock price performance over the past 12 months lags the peer average by 1001.1% This story was produced by the Kwhen Automated News Generator. 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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Trading Activity Trading volume this week was 24.3% lower than the 20-day average. Technical Indicators The Relative Strength Index (RSI) on the stock was under 30, indicating it may be underbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and lags it on a 5-year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -951.3% The company's stock price performance over the past 12 months lags the peer average by 1001.1%
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acb39a6c-5f3d-4dfe-80bd-d206811cb47b
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714324.0
|
2023-12-06 00:00:00 UTC
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Carlisle Companies Inc. Shares Climb 0.2% Past Previous 52-Week High - Market Mover
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DCOMP
|
https://www.nasdaq.com/articles/carlisle-companies-inc.-shares-climb-0.2-past-previous-52-week-high-market-mover
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nan
|
nan
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Carlisle Companies Inc. (CSL) shares closed 0.2% higher than its previous 52 week high, giving the company a market cap of $14B. The stock is currently up 24.8% year-to-date, up 16.7% over the past 12 months, and up 205.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 43.9% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.2.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 789.9%
The company's stock price performance over the past 12 months beats the peer average by 293.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 232.7% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Beta, a measure of the stock’s volatility relative to the overall market stands at 1.2. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 789.9% The company's stock price performance over the past 12 months beats the peer average by 293.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 232.7% higher than the average peer. This story was produced by the Kwhen Automated News Generator.
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Carlisle Companies Inc. (CSL) shares closed 0.2% higher than its previous 52 week high, giving the company a market cap of $14B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 789.9% The company's stock price performance over the past 12 months beats the peer average by 293.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 232.7% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 789.9% The company's stock price performance over the past 12 months beats the peer average by 293.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 232.7% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 789.9% The company's stock price performance over the past 12 months beats the peer average by 293.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 232.7% higher than the average peer.
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a684cce0-add4-4409-bf1e-da09f515072f
|
714325.0
|
2023-12-06 00:00:00 UTC
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Stewart Information Services Corp. Shares Climb 0.0% Past Previous 52-Week High - Market Mover
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DCOMP
|
https://www.nasdaq.com/articles/stewart-information-services-corp.-shares-climb-0.0-past-previous-52-week-high-market
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Stewart Information Services Corp. (STC) shares closed 0.0% higher than its previous 52 week high, giving the company a market cap of $1B. The stock is currently up 27.2% year-to-date, up 27.7% over the past 12 months, and up 48.2% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 72.3% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.0.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 75.7%
The company's stock price performance over the past 12 months beats the peer average by 69.1%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 248.4% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Stewart Information Services Corp. (STC) shares closed 0.0% higher than its previous 52 week high, giving the company a market cap of $1B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.0. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 75.7% The company's stock price performance over the past 12 months beats the peer average by 69.1% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 248.4% higher than the average peer.
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Stewart Information Services Corp. (STC) shares closed 0.0% higher than its previous 52 week high, giving the company a market cap of $1B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 75.7% The company's stock price performance over the past 12 months beats the peer average by 69.1% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 248.4% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 75.7% The company's stock price performance over the past 12 months beats the peer average by 69.1% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 248.4% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 75.7% The company's stock price performance over the past 12 months beats the peer average by 69.1% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 248.4% higher than the average peer.
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8368a4a0-7c83-4702-9132-57474ebe7730
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714326.0
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2023-12-06 00:00:00 UTC
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Aflac Inc. Shares Approach 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/aflac-inc.-shares-approach-52-week-high-market-mover-9
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nan
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Aflac Inc. (AFL) shares closed today at 1.7% below its 52 week high of $83.45, giving the company a market cap of $47B. The stock is currently up 16.3% year-to-date, up 17.7% over the past 12 months, and up 111.9% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 19.6% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.7.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 413.2%
The company's stock price performance over the past 12 months beats the peer average by -5591.2%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 4.1% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Aflac Inc. (AFL) shares closed today at 1.7% below its 52 week high of $83.45, giving the company a market cap of $47B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.7. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 413.2% The company's stock price performance over the past 12 months beats the peer average by -5591.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 4.1% higher than the average peer.
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Aflac Inc. (AFL) shares closed today at 1.7% below its 52 week high of $83.45, giving the company a market cap of $47B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 413.2% The company's stock price performance over the past 12 months beats the peer average by -5591.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 4.1% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 413.2% The company's stock price performance over the past 12 months beats the peer average by -5591.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 4.1% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 413.2% The company's stock price performance over the past 12 months beats the peer average by -5591.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 4.1% higher than the average peer.
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437e70b0-5083-4d5e-b313-7dae05e7b4c5
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714327.0
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2023-12-06 00:00:00 UTC
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3 Stocks AI Predicts Will Deliver 1,000% Gains by 2028
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DCOMP
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https://www.nasdaq.com/articles/3-stocks-ai-predicts-will-deliver-1000-gains-by-2028
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The hype around artificial intelligence continues to build as investors become more familiar with its capabilities. While AI is far from a crystal ball, it can be a valuable tool for identifying promising investment opportunities that may otherwise fly under the radar. Google’s (NASDAQ:GOOG, NASDAQ:GOOGL) Bard AI has proven particularly adept at stock picking, consistently outperforming rival AI models and even human experts in backtesting.
Intrigued by Bard’s aptitude for predicting outsized returns, I decided to leverage this technology to uncover three overlooked stocks that it believes can deliver 1,000% gains by 2028. Of course, I didn’t simply take Bard’s suggestions at face value. Once the AI pointed me in a promising direction, I conducted my own careful analysis of each pick, evaluating potential risks and rewards.
I aim to combine Bard’s computational screening abilities with old-fashioned human judgment and due diligence. AI excels at crunching vast datasets to surface insights we may miss. But evaluating an investment thesis requires nuanced reasoning no AI can match right now.
Remember, none of the following stocks are my own recommendations, even though I do have buy ratings on these stocks from many months ago. I will simply be providing perspective and commentary, using Bard’s argument as a base. If you want my own picks, I recommend you check out some of my other articles. Bard itself noted in its response, “Please note that these are just predictions from AI, and there is no guarantee that these stocks will actually achieve these gains.”
With that in mind, let’s start!
Lemonade (LMND)
Source: Piotr Swat / Shutterstock.com
Bard: Lemonade (NYSE:LMND) “is a homeowners and renters insurance company that uses artificial intelligence to underwrite and price policies. The company has been growing rapidly in recent years, and it is expected to continue to grow as more people adopt digital insurance products. AI predicts that Lemonade could reach a market capitalization of $100 billion by 2028, which would represent a 1,000% gain from its current market capitalization of $10 billion.”
Let’s put aside Bard’s messed-up numbers and look at the bigger picture. I agree that Lemonade has enormous long-term potential in disrupting the massive insurance industry. The company is still in hyper-growth mode, with revenue climbing from $67 million in 2019 to an expected $426 million this year. Unfortunately, losses are growing just as quickly, totaling $298 million last year.
With only $305 million in cash, Lemonade may have to rely heavily on share issuances to finance its cash burn. Therefore, I have doubts about the feasibility of reaching a $14.63 (1.33+1,000%) billion valuation in the next five years. The market rarely awards such high valuations to unprofitable companies lacking clear paths to profitability.
That said, Lemonade does have a unique value proposition with its AI-driven platform, targeting younger demographics that incumbents fail to engage. If the company can continue scaling while improving loss ratios, profitability could one day support a higher valuation. But it still seems like a stretch, and I would give LMND a “hold” rating at best right now.
Upstart Holdings (UPST)
Source: T. Schneider / Shutterstock.com
Bard: Upstart Holdings (NASDAQ:UPST) “is an artificial intelligence lending platform that provides personal loans to borrowers with non-traditional credit histories. The company’s AI underwriting model is able to approve more loans and at lower interest rates than traditional lenders. Upstart is expected to disrupt the personal lending market and reach a market capitalization of $50 billion by 2028, which would represent a 1,500% gain from its current market capitalization of $3.3 billion.”
I was bullish on Upstart earlier this year, with shares trading around the $14 level, thanks to its innovative underwriting models and massive addressable market. However, my outlook has become more cautious amid volatility in credit markets.
Of course, Upstart itself possesses a solid business model when credit conditions normalize. Its AI models approve loans faster and at better rates than traditional lenders. Revenue also grew explosively until 2022, when originations slowed. However, I believe the company’s growth rate should recover in calmer markets.
Indeed, today’s challenging credit environment creates unpredictable near-term headwinds. Banks have retrenched to shore up liquidity and capital. These cyclical economic impacts make modeling Upstart’s growth over a 5-year horizon exceptionally difficult.
Therefore, while I remain bullish over the long-term on Upstart from a fundamental perspective, I believe risks likely outweigh potential rewards over the next 12-18 months. Until underlying the health of the consumer and lending activity improves, I expect continued volatility that may provide better entry points down the road. Of course, Upstart could still generate outstanding returns for patient investors once macro conditions normalize. But anticipating a 1,000% upside amidst current uncertainties seems overly optimistic.
UiPath (PATH)
Source: dennizn / Shutterstock.com
Bard: UiPath (NYSE:PATH) “is a robotic process automation (RPA) software company that provides software that can automate repetitive tasks. The company’s software is used by businesses of all sizes to improve efficiency and reduce costs. UiPath is expected to become the dominant player in the RPA market and reach a market capitalization of $100 billion by 2028, which would represent a 1,000% gain from its current market capitalization of $10 billion.”
I also don’t fully agree this stock offers potential 1,000% returns. But I am more confident projecting massive gains for UiPath versus Lemonade and Upstart.
The difference lies in UiPath already sporting a solid business model and a clear path to profitability. Last quarter, the company delivered 24% revenue growth and 13% operating margins. The company now expects to produce more than $250 million of free cash flow this year. Unlike many AI software firms, UiPath generates profits by providing essential automation tools rather than speculative language models.
UiPath operates in a vast RPA market that could be worth over $66 billion by 2032 at a 38% compounded annual growth rate (CAGR), promising durable double-digit growth. Its net retention rates are at 123% with current customers.
In my view, these sustainable fundamentals support a reasonable upside if execution continues. That’s especially true as UiPath penetrates more complex markets.
On the date of publication, Omor Ibne Ehsan 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.
Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.
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The post 3 Stocks AI Predicts Will Deliver 1,000% Gains by 2028 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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Intrigued by Bard’s aptitude for predicting outsized returns, I decided to leverage this technology to uncover three overlooked stocks that it believes can deliver 1,000% gains by 2028. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Stocks AI Predicts Will Deliver 1,000% Gains by 2028 appeared first on InvestorPlace.
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AI predicts that Lemonade could reach a market capitalization of $100 billion by 2028, which would represent a 1,000% gain from its current market capitalization of $10 billion.” Let’s put aside Bard’s messed-up numbers and look at the bigger picture. Upstart Holdings (UPST) Source: T. Schneider / Shutterstock.com Bard: Upstart Holdings (NASDAQ:UPST) “is an artificial intelligence lending platform that provides personal loans to borrowers with non-traditional credit histories. Upstart is expected to disrupt the personal lending market and reach a market capitalization of $50 billion by 2028, which would represent a 1,500% gain from its current market capitalization of $3.3 billion.” I was bullish on Upstart earlier this year, with shares trading around the $14 level, thanks to its innovative underwriting models and massive addressable market.
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AI predicts that Lemonade could reach a market capitalization of $100 billion by 2028, which would represent a 1,000% gain from its current market capitalization of $10 billion.” Let’s put aside Bard’s messed-up numbers and look at the bigger picture. Upstart is expected to disrupt the personal lending market and reach a market capitalization of $50 billion by 2028, which would represent a 1,500% gain from its current market capitalization of $3.3 billion.” I was bullish on Upstart earlier this year, with shares trading around the $14 level, thanks to its innovative underwriting models and massive addressable market. UiPath is expected to become the dominant player in the RPA market and reach a market capitalization of $100 billion by 2028, which would represent a 1,000% gain from its current market capitalization of $10 billion.” I also don’t fully agree this stock offers potential 1,000% returns.
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Upstart is expected to disrupt the personal lending market and reach a market capitalization of $50 billion by 2028, which would represent a 1,500% gain from its current market capitalization of $3.3 billion.” I was bullish on Upstart earlier this year, with shares trading around the $14 level, thanks to its innovative underwriting models and massive addressable market. Of course, Upstart itself possesses a solid business model when credit conditions normalize. UiPath is expected to become the dominant player in the RPA market and reach a market capitalization of $100 billion by 2028, which would represent a 1,000% gain from its current market capitalization of $10 billion.” I also don’t fully agree this stock offers potential 1,000% returns.
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6002c053-55b4-43b9-bc6d-7abbd96abc8c
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714328.0
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2023-12-06 00:00:00 UTC
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7 Heavily De-Risked Tech Stocks Worth Another Look
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https://www.nasdaq.com/articles/7-heavily-de-risked-tech-stocks-worth-another-look
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With the Technology Select Sector SPDR Fund (NYSEARCA:XLK) running well above the equities benchmark index this year, it’s clear that the innovation space is humming strongly, which subsequently yields a case for de-risked tech stocks. Stated differently, these securities represent compelling enterprises that just haven’t enjoyed the success of other technology entities.
Primarily, a key reason to consider de-risked tech stocks is the practical case of mitigating risks of holding the bag. To be 100% clear, just because a publicly traded security prints red ink doesn’t mean that it can’t go anywhere lower. In many (and perhaps most cases), businesses that suffer severe volatility do so because of fundamental vulnerabilities. So, this contrarian approach presents high risks.
At the same time, it’s tough to pile into the usual suspects. Yes, prominent experts have voiced their opinions that the Federal Reserve may implement interest rate cuts next year. However, under basic economic principles, rate cuts usually happen when the economy is in recession.
With inflation still stubbornly high, I have doubts the Fed will want to undo its prior (painful) work. So, the most popular innovators still face concerns, which may bode favorably for these de-risked tech stocks.
Himax Technologies (HIMX)
Source: Mamat Suryadi / Shutterstock
A leading supplier and fabless semiconductor manufacturer, Taiwan-based Himax Technologies (NASDAQ:HIMX) is a key component of the global computer chip supply chain. Unfortunately, the market doesn’t quite see it that way. Over the trailing 52 weeks, HIMX incurred double-digit percentage losses. Still, an argument could be made that shares are stabilizing, suggesting that HIMX may rank among de-risked tech stocks.
Adding to this hypothesis, Wall Street analysts currently rate HIMX as a consensus moderate buy. To be fair, the consensus stems from only two experts. However, the average price target between the pair comes in at $7.50, implying a sizable upside from the time of writing. Also, the highest price target of the two calls for shares hitting $8.
That seems reasonable. After incurring some disappointing financial performances, the company posted sales growth of 11.6% in the third quarter. However, HIMX is trading at only 1.03x trailing-year revenue, far lower than the 2.96x sector median. Thus, it’s one of the de-risked tech stocks to put on your radar.
Allient (ALNT)
Source: Peshkova / Shutterstock
Based in Amherst, New York, Allient (NASDAQ:ALNT) produces precision and specialty motion control components and systems for commercial, industrial, medical, vehicle, aerospace and defense market. From a cynical perspective, the latter specialty could become extraordinarily relevant given the current geopolitical paradigm. However, the market hasn’t cooperated, with ALNT down sharply in the past one-year period.
Still, recent trading dynamics suggest that a bottom may have been printed. Interestingly, data from Fintel indicates that options sentiment may be quite bullish based on the underlying put/call ratio. Moreover, ALNT enjoys support from analysts, who peg shares a moderate buy. Again, the consensus stems from only two experts. However, the average price target lands at $40, projecting robust growth.
Also, the maximum price target – courtesy of Northland Securities – stands at $45. From the financials, Allient may be able to surprise some folks. After fading a bit in 2020, revenue has been surging higher. Even so, ALNT only trades at a sales multiple of 0.77x, below the underlying sector median of 1.49x.
AXT (AXTI)
Source: Shutterstock
Headquartered in Fremont, California, AXT (NASDAQ:AXTI) is a material science company. Per its website, it develops and manufactures high-performance compound and single-element semiconductor wafer substrates comprising indium phosphide (InP), gallium arsenide (GaAs), and germanium (Ge). Fundamentally, AXT offers behind-the-scenes relevance for the chip manufacturing space. However, shares suffered heavy losses since the January opener.
Usually, when entities bleed as much as AXT, we’re not talking about de-risked tech stocks; rather, we’re talking about super-risky enterprises you should probably run away from. However, AXTI has roughly stabilized in the trailing month, suggesting that it may be nearing a bottom. Also, analysts are somewhat optimistic about it, pegging shares a moderate buy.
Further, the average price target calls for $3.22, representing a conspicuous leap from the time of writing. Also, the high-side target hits $5, well more than double where shares trade today. In fairness, the market responded to AXT’s sharp erosion of the top line. Still, traders may be poised to bid up call options, which could lift AXTI.
MagnaChip (MX)
Source: Shutterstock
Another intriguing candidate for de-risked tech stocks for speculators, MagnaChip (NYSE:MX) designs and manufactures analog and mixed-signal semiconductor-based solutions. Why is that important? According to the company’s website, its innovations enable slimmer form factors, longer battery life, better performance, and amazing image quality. Still, Wall Street isn’t giving MX the benefit of the doubt, sending shares down sharply over the past 52 weeks.
Admittedly, it’s not entirely clear if MagnaChip represents one of the de-risked tech stocks at the moment. I say that because recent sessions have been quite volatile. Still, analysts peg MX a consensus moderate buy with an $11.50 average price target. That alone symbolizes a tremendous return. However, the max price target (within the past three months) comes from Needham at $13.
To be clear, MagnaChip has suffered a severe erosion of its top line, hence the negativity toward it. However, it’s also possible that the market has for the most part digested the bad news. Also, despite the ugliness in the financials (and the price chart), options traders may be bullish on MX. I’d keep an eye on it.
GDS Holdings (GDS)
Source: Golden Dayz / Shutterstock.com
Easily one of the riskiest de-risked tech stocks available, GDS Holdings (NASDAQ:GDS) should only be engaged with a clear understanding of the downside possibilities. For one thing, you must Google translate the company’s website (if you don’t speak Chinese). Doing that, we find that GDS represents one of China’s leading high-performance data center operators and service providers.
That seems powerfully relevant. Sadly, someone needs to tell the Street, which is absolutely skeptical about GDS. However, over the trailing half-year period, an argument can be made that shares have roughly stabilized. That might imply that the bears have been exhausted, possibly leading to a bullish comeback. Also, Jefferies analysts rate GDS a buy with a $17.75 price target.
Interestingly, since the beginning of the year, various analysts have posted price targets that imply a 200% upside or more. As for the financials, the company’s extreme growth phase appears to have subsided in favor of steady top-line expansion. The good news? GDS trades at 1.33x trailing revenue, lower than the sector median of 2.2x.
Alithya Group (ALYA)
Source: shutterstock.com/whiteMocca
Hailing from Alpharetta, Georgia, Alithya Group (NASDAQ:ALYA) represents a pure risk-on idea among de-risked tech stocks. Per its public profile, Alithya is a digital strategy and technologies firm that primarily covers the North American market. For additional insights, the company’s website claims that it helps advise its clients on their digital transformation journey. Still, it hasn’t convinced the Street yet, resulting in sharp losses for the year.
Another headwind that clouds the narrative is tech firms – despite the broader economic recovery narrative – are seeking ways to reduce costs. That includes layoffs and sunsetting unproductive business units. So, I understand the red ink. However, analysts still peg ALYA as a consensus moderate buy with a $2.06 average price target. What’s more, the high-side target lands at $2.59, more than doubling the current price level.
Financially, it’s a tough call, in part because investment data aggregator Gurufocus warns ALYA could be a value trap. It’s also seeing a flattening of its sales trajectory, which is distracting. Still, companies can’t afford to lose ground in the digital ecosystem. That’s probably why analysts are positive on ALYA despite the heavy risks.
Boxlight (BOXL)
Source: Pavel Kapysh / Shutterstock.com
Headquartered in Duluth, Georgia, Boxlight (NASDAQ:BOXL) bills itself as an innovative technology developer that inspires and drives success in all organizations. Aside from the ambiguous word salad, Boxlight offers an education technology (edtech) platform that helps accelerate learning in core academic cycles and provides training for various professional industries. Everyone understands the need for edtech but unfortunately, the Street doesn’t get BOXL.
Part of the problem is that Boxlight cratered horribly in the trailing month. Per TipRanks, the company posted a loss of $1.90 per share for its third quarter. However, analysts anticipated earnings of 34 cents per share. Also, revenue of $49.67 million was badly off the consensus target of $59.74 million.
Surprisingly, though, analysts rate BOXL a unanimous strong buy. Granted, we’re only talking about three experts. However, the average price target of $4.50 implies a quadrupling of market value. Even better, the high-side target calls for $6.
In full disclosure, Boxlight suffers from several red flags. But if you believe in the potential of edtech, BOXL could be one of the (relatively) de-risked tech stocks to gamble on.
On the date of publication, Josh Enomoto 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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.
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The post 7 Heavily De-Risked Tech Stocks Worth Another Look 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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Per its website, it develops and manufactures high-performance compound and single-element semiconductor wafer substrates comprising indium phosphide (InP), gallium arsenide (GaAs), and germanium (Ge). Aside from the ambiguous word salad, Boxlight offers an education technology (edtech) platform that helps accelerate learning in core academic cycles and provides training for various professional industries. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
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Himax Technologies (HIMX) Source: Mamat Suryadi / Shutterstock A leading supplier and fabless semiconductor manufacturer, Taiwan-based Himax Technologies (NASDAQ:HIMX) is a key component of the global computer chip supply chain. Adding to this hypothesis, Wall Street analysts currently rate HIMX as a consensus moderate buy. Alithya Group (ALYA) Source: shutterstock.com/whiteMocca Hailing from Alpharetta, Georgia, Alithya Group (NASDAQ:ALYA) represents a pure risk-on idea among de-risked tech stocks.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips With the Technology Select Sector SPDR Fund (NYSEARCA:XLK) running well above the equities benchmark index this year, it’s clear that the innovation space is humming strongly, which subsequently yields a case for de-risked tech stocks. GDS Holdings (GDS) Source: Golden Dayz / Shutterstock.com Easily one of the riskiest de-risked tech stocks available, GDS Holdings (NASDAQ:GDS) should only be engaged with a clear understanding of the downside possibilities. However, analysts still peg ALYA as a consensus moderate buy with a $2.06 average price target.
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Also, Jefferies analysts rate GDS a buy with a $17.75 price target. GDS trades at 1.33x trailing revenue, lower than the sector median of 2.2x. However, analysts still peg ALYA as a consensus moderate buy with a $2.06 average price target.
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c5efab36-a46a-495b-8c31-fed8ae625833
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714329.0
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2023-12-06 00:00:00 UTC
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Main Street Capital Corporation Shares Climb 0.3% Past Previous 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/main-street-capital-corporation-shares-climb-0.3-past-previous-52-week-high-market-mover
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nan
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Main Street Capital Corporation (MAIN) shares closed 0.3% higher than its previous 52 week high, giving the company a market cap of $3B. The stock is currently up 22.0% year-to-date, up 23.3% over the past 12 months, and up 59.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 9.1% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.7.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 252.3%
The company's stock price performance over the past 12 months beats the peer average by 263.2%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -63.4% lower than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Beta, a measure of the stock’s volatility relative to the overall market stands at 0.7. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 252.3% The company's stock price performance over the past 12 months beats the peer average by 263.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -63.4% lower than the average peer.
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Main Street Capital Corporation (MAIN) shares closed 0.3% higher than its previous 52 week high, giving the company a market cap of $3B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 252.3% The company's stock price performance over the past 12 months beats the peer average by 263.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -63.4% lower than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 252.3% The company's stock price performance over the past 12 months beats the peer average by 263.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -63.4% lower than the average peer. This story was produced by the Kwhen Automated News Generator. 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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Trading Activity Trading volume this week was 9.1% higher than the 20-day average. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 252.3% The company's stock price performance over the past 12 months beats the peer average by 263.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -63.4% lower than the average peer.
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8e6473d2-e8ac-41b7-a3ee-53046534dc01
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714330.0
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2023-12-06 00:00:00 UTC
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7 Dividend-Paying Healthcare Stocks for Income Investors
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https://www.nasdaq.com/articles/7-dividend-paying-healthcare-stocks-for-income-investors
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With the equities sector falling flat while the cryptocurrency arena skyrockets, the difficulties associated with planning next moves help drive the bullish case for dividend-paying healthcare stocks. As a defensive play, the broader wellness ecosystem should instill confidence. After all, regardless of economic conditions, people will need access to various medical services and products.
On a related note, healthcare stocks for income march higher based on a non-cyclical demand profile. Stated differently, this market subsegment isn’t heavily influenced by economic cycles. Rather, long-term trends such as the massive and aging baby boomer population along with the prevalence of chronic diseases should help feed consistently rising dollars into the space.
To be blunt, you’re probably not going to get rich with healthcare dividend stocks. Let’s face it: when companies decide to reward shareholders rather than expand their business footprint, you’re likely dealing with a mature enterprise within an established industry. Nevertheless, when faced with an ambiguous market backdrop, dependability should be a top priority.
On that note, below are the dividend-paying healthcare stocks to consider during these tough-to-decipher times.
UnitedHealth Group (UNH)
Source: Ken Wolter / Shutterstock.com
A multinational managed healthcare and insurance company, UnitedHealth Group (NYSE:UNH) represents the largest company of its kind by revenue. It’s also the biggest insurance company by net premiums. Since the beginning of the year, UNH returned a bit over 6%, which isn’t that remarkable. However, shares have moved up nearly 4% in the trailing five sessions, demonstrating a possible resurgence.
One critical factor that helps lift UNH as one of the dividend-paying healthcare stocks is its apparent insulation from rising prices. While inflation devasted other enterprises, UnitedHealth enjoys consistent revenue growth. In addition, the company’s gross profit margin has been steadily increasing since fiscal year 2021. That suggests the business commands pricing power, which makes sense given its underlying criticality.
Now, with all the inherent predictability of the business, UnitedHealth only features a modest forward yield of 1.37%. However, the payout ratio sits at 26.94%, implying supreme sustainability of the yield. Lastly, analysts rate shares a strong buy with a $592.50 average price target.
US Physical Therapy (USPH)
Source: Shutterstock
Based in Houston, Texas, US Physical Therapy (NYSE:USPH) bills itself as one of the largest publicly traded, pure-play operators of outpatient physical and computational therapy clinics. Further, the underlying clinics provide pre-and post-operative care for a variety of orthopedic-related disorders and sports-related injuries. Since the January opener, USPH gained almost 8%, which again isn’t that remarkable of a performance.
Still, it makes a case for dividend-paying healthcare stocks due to the underlying relevance. According to Grand View Research, the U.S. physical therapy services market reached a valuation of $44.8 billion last year. Further, experts project that the segment will gradually expand at a compound annual growth rate (CAGR) of 3.56% to 2030, culminating in sector revenue of $58.6 billion.
While it doesn’t have the most exceptional financials, US Physical Therapy posted at least 10 years of profits over the past decade. Subsequently, the company offers a forward yield of 1.96%, a bit above the sector average of 1.58%. Also, analysts unanimously peg USPH a strong buy with a $110 price target.
Select Medical (SEM)
Source: Shutterstock
One of the largest providers of critical illness recovery hospitals, Select Medical (NYSE:SEM) also specializes in inpatient rehabilitation hospitals, outpatient rehabilitation centers, and occupational health clinics in the U.S. To clarify, Select’s website states that it specializes in the continuum of care. In other words, following a critical illness or injury, the company works with patients to get them back to their normal lives.
In full disclosure, SEM ranks among the riskier ideas for healthcare stocks for income. Since the start of the year, SEM slipped more than 6%. However, investors may take confidence in the enterprise’s consistent profitability, along with better-than-average operating and net margins. Further, SEM trades at only 9.97x forward earnings, far lower than the sector median of 23.7x.
Looking at the passive income, Select carries a forward yield of 2.15%. While that’s not a blisteringly hot yield, the payout ratio sits at only 21.85%. Moreover, analysts rate SEM a strong buy with a $31 price target, making it a solid candidate for dividend-paying healthcare stocks.
CVS Health (CVS)
Source: Shutterstock
Best known for its retail pharmacy business, CVS Health (NYSE:CVS) also plies its trade in the pharmacy benefits manger and health insurance arenas. As a result, CVS ranks among the top healthcare dividend stocks. That said, the market hasn’t been too kind to the company’s shares, which lost almost 24% of equity value.
Fundamentally, CVS faces significant competitive headwinds and potential disruptions. A notable example is Amazon (NASDAQ:AMZN) and its PillPack unit, a certified U.S. retail pharmacy. Nevertheless, CVS benefits from entrenched brand awareness and loyalty. That may be particularly true of older demographics – the very cohort that drives the broader case for dividend-paying healthcare stocks.
Despite the obstacles, the company marches ahead, though I would like to see improvement in gross margins. On the positive side, CVS trades at a low forward earnings multiple of 8.35x. Right now, it offers a forward yield of 3.41% and a very sustainable payout ratio of 28.43%.
In closing, analysts peg CVS a strong buy with a $87.73 price target, making a solid case for healthcare stocks for income.
Premier (PINC)
Source: sfam_photo / Shutterstock.com
Labeling itself as a healthcare improvement company, Premier (NASDAQ:PINC) features an alliance of approximately 4,350 U.S. hospitals and health systems and more than 300,000 other providers and organizations. Per its website, Premier created one of the most comprehensive databases of actionable data, clinical best practices and efficiency improvement strategies. Though a relevant offering, PINC suffered a huge loss of more than 41% since the January opener.
Still, for those that can handle the heat, Premier might rank among the more compelling dividend-paying healthcare stocks. First, the enterprise enjoys a large total addressable market. Per Grand View Research, the global healthcare analytics market size will reach a valuation of $43.1 billion this year. By 2030, the sector could see revenue of $167 billion. That comes out to a CAGR of 21.1%.
Second, Premier enjoys a stable balance sheet and is consistently profitable. Naturally, the latter attribute helps fuel the forward yield of 4.05%. Also, the payout ratio comes in at a very reasonable 39.61%. Analysts rate PINC a moderate buy with a $24.67 price target, making an intriguing case for healthcare dividend stocks.
Spok Holdings (SPOK)
Source: metamorworks / Shutterstock
For those who want to dial up the risk-reward factor for their dividend-paying healthcare stocks, Spok Holdings (NASDAQ:SPOK) might be your ticket to the fast lane. According to its website, Spok specializes in delivering clinical information to care teams to help improve patient outcomes. Further, its secure platform automates clinical workflows for various activities, including patient alerts and test results.
While the business sounds compelling, SPOK lost more than 12% of equity value on Tuesday. That doesn’t take away from the incredibly robust return of nearly 75% since the January opener. Still, investors may want to wait out the volatility before considering moving in. One problem for investors could be that since 2011, the company suffered annual erosion of its top line.
Still, the trailing-12-month (TTM) sales is above 2022’s result, which might be an early sign of a recovery. Also, for the adventurous, the company offers a forward yield of 8.43% (though with a payout ratio of 122.55%).
Lastly, Lake Street’s Eric Martinuzzi pegs SPOK a buy with a $15.50 price target.
Walgreens Boots Alliance (WBA)
Source: saaton / Shutterstock.com
For the most contrarian of investors, Walgreens Boots Alliance (NASDAQ:WBA) represents a largely speculative idea among dividend-paying healthcare stocks. As an integrated healthcare, pharmacy and retail leader, Walgreens plays a vital role in the healthcare ecosystem. However, as mentioned with CVS, that dominance may suffer competitive challenges. Since the start of the year, WBA lost nearly 45% of equity value.
Unfortunately, no one really knows when the bottom will be printed. In the past 52 weeks, the red ink expands to a loss of over 49%. In the trailing five years, WBA is off the mark by almost 75%, a staggering figure. Again, it’s a good time to remind investors of Walgreens’ speculative nature. If that wasn’t bad enough, investment data aggregator warns that WBA could be a possible value trap.
However, I suppose if you’re looking for an extreme value proposition, it’d be difficult to outbid WBA. Currently, it runs a forward earnings multiple of 6.15x. Also, the market prices share at a revenue multiple of 0.13x. On the passive income front, Walgreens offers a forward yield of 9.36%. Also, the payout ratio isn’t terrible at 57.66%.
On the date of publication, Josh Enomoto 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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.
More From InvestorPlace
Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.
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 7 Dividend-Paying Healthcare Stocks for Income Investors 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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Rather, long-term trends such as the massive and aging baby boomer population along with the prevalence of chronic diseases should help feed consistently rising dollars into the space. In closing, analysts peg CVS a strong buy with a $87.73 price target, making a solid case for healthcare stocks for income. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
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According to Grand View Research, the U.S. physical therapy services market reached a valuation of $44.8 billion last year. Select Medical (SEM) Source: Shutterstock One of the largest providers of critical illness recovery hospitals, Select Medical (NYSE:SEM) also specializes in inpatient rehabilitation hospitals, outpatient rehabilitation centers, and occupational health clinics in the U.S. To clarify, Select’s website states that it specializes in the continuum of care. Walgreens Boots Alliance (WBA) Source: saaton / Shutterstock.com For the most contrarian of investors, Walgreens Boots Alliance (NASDAQ:WBA) represents a largely speculative idea among dividend-paying healthcare stocks.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips With the equities sector falling flat while the cryptocurrency arena skyrockets, the difficulties associated with planning next moves help drive the bullish case for dividend-paying healthcare stocks. Walgreens Boots Alliance (WBA) Source: saaton / Shutterstock.com For the most contrarian of investors, Walgreens Boots Alliance (NASDAQ:WBA) represents a largely speculative idea among dividend-paying healthcare stocks. 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 7 Dividend-Paying Healthcare Stocks for Income Investors appeared first on InvestorPlace.
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However, investors may take confidence in the enterprise’s consistent profitability, along with better-than-average operating and net margins. CVS Health (CVS) Source: Shutterstock Best known for its retail pharmacy business, CVS Health (NYSE:CVS) also plies its trade in the pharmacy benefits manger and health insurance arenas. As a result, CVS ranks among the top healthcare dividend stocks.
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276aa269-a2fb-4d17-82f2-0462954f8ec5
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714331.0
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2023-12-06 00:00:00 UTC
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Visa Inc - Class A Shares Close in on 52-Week High - Market Mover
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https://www.nasdaq.com/articles/visa-inc-class-a-shares-close-in-on-52-week-high-market-mover-0
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Visa Inc - Class A (V) shares closed today at 0.6% below its 52 week high of $257.39, giving the company a market cap of $480B. The stock is currently up 23.4% year-to-date, up 22.6% over the past 12 months, and up 87.0% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 36.9% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by -17.4%
The company's stock price performance over the past 12 months beats the peer average by 2.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 21.8% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Visa Inc - Class A (V) shares closed today at 0.6% below its 52 week high of $257.39, giving the company a market cap of $480B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -17.4% The company's stock price performance over the past 12 months beats the peer average by 2.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 21.8% higher than the average peer.
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Visa Inc - Class A (V) shares closed today at 0.6% below its 52 week high of $257.39, giving the company a market cap of $480B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -17.4% The company's stock price performance over the past 12 months beats the peer average by 2.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 21.8% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -17.4% The company's stock price performance over the past 12 months beats the peer average by 2.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 21.8% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -17.4% The company's stock price performance over the past 12 months beats the peer average by 2.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 21.8% higher than the average peer.
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2023-12-06 00:00:00 UTC
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SoftBank-backed Klook raises $210 mln in travel rebound
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https://www.nasdaq.com/articles/softbank-backed-klook-raises-%24210-mln-in-travel-rebound
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Updates with details and background in paragraphs 2-6
Dec 7 (Reuters) - Klook Travel Technologies, backed by SoftBank Group Corp 9984.T, said in a statement on Thursday it raised $210 million in a funding round as the booking service provider seeks to expand its footprint following the COVID-19 pandemic.
The equity round was led by Bessemer Venture Partners, said Klook, which achieved profitability for the first time this year and also turned cash-flow positive.
Private-equity firm BPEA EQT and SMIC SG Holdings participated in the equity-raising round, the Hong Kong-based startup added.
"With Asia in the early stages of post-COVID recovery, upcoming global events like the Paris Olympics 2024 and Osaka World Expo 2025, along with rising expenditures and digital adoption, the industry outlook in Asia is exceptionally positive," said Klook CEO and co-founder Ethan Lin.
The firm will use the funds to focus on three core growth areas - product innovation, boosting social and digital marketing coupled with AI integration.
Klook, which was founded in 2014, provides various booking services to travellers across a range of locations globally and competes with other experience booking services providers such as TripAdvisor TRIP.O and Airbnb ABNB.O.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)
((Rishav.Chatterjee@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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Updates with details and background in paragraphs 2-6 Dec 7 (Reuters) - Klook Travel Technologies, backed by SoftBank Group Corp 9984.T, said in a statement on Thursday it raised $210 million in a funding round as the booking service provider seeks to expand its footprint following the COVID-19 pandemic. The equity round was led by Bessemer Venture Partners, said Klook, which achieved profitability for the first time this year and also turned cash-flow positive. The firm will use the funds to focus on three core growth areas - product innovation, boosting social and digital marketing coupled with AI integration.
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Updates with details and background in paragraphs 2-6 Dec 7 (Reuters) - Klook Travel Technologies, backed by SoftBank Group Corp 9984.T, said in a statement on Thursday it raised $210 million in a funding round as the booking service provider seeks to expand its footprint following the COVID-19 pandemic. "With Asia in the early stages of post-COVID recovery, upcoming global events like the Paris Olympics 2024 and Osaka World Expo 2025, along with rising expenditures and digital adoption, the industry outlook in Asia is exceptionally positive," said Klook CEO and co-founder Ethan Lin. Klook, which was founded in 2014, provides various booking services to travellers across a range of locations globally and competes with other experience booking services providers such as TripAdvisor TRIP.O and Airbnb ABNB.O.
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Updates with details and background in paragraphs 2-6 Dec 7 (Reuters) - Klook Travel Technologies, backed by SoftBank Group Corp 9984.T, said in a statement on Thursday it raised $210 million in a funding round as the booking service provider seeks to expand its footprint following the COVID-19 pandemic. "With Asia in the early stages of post-COVID recovery, upcoming global events like the Paris Olympics 2024 and Osaka World Expo 2025, along with rising expenditures and digital adoption, the industry outlook in Asia is exceptionally positive," said Klook CEO and co-founder Ethan Lin. Klook, which was founded in 2014, provides various booking services to travellers across a range of locations globally and competes with other experience booking services providers such as TripAdvisor TRIP.O and Airbnb ABNB.O.
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Updates with details and background in paragraphs 2-6 Dec 7 (Reuters) - Klook Travel Technologies, backed by SoftBank Group Corp 9984.T, said in a statement on Thursday it raised $210 million in a funding round as the booking service provider seeks to expand its footprint following the COVID-19 pandemic. The equity round was led by Bessemer Venture Partners, said Klook, which achieved profitability for the first time this year and also turned cash-flow positive. Private-equity firm BPEA EQT and SMIC SG Holdings participated in the equity-raising round, the Hong Kong-based startup added.
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2023-12-06 00:00:00 UTC
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Australia's Perpetual jumps 10% on bidding war prospect
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https://www.nasdaq.com/articles/australias-perpetual-jumps-10-on-bidding-war-prospect
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By Scott Murdoch
SYDNEY, Dec 7 (Reuters) - Australian fund manager Perpetual Ltd PPT.AX shares rose 10% in early trade on Thursday after it rejected a A$3.1 billion ($2 billion) takeover offer from its largest investor, raising the prospect of a bidding war for the firm.
Perpetual stock hit the highest level in four months at A$25.93 after the company turned down Washington H Soul Pattinson's (WHSP) SOL.AX bid valuing it at A$27 a share.
The bid, which would see Perpetual's asset management business spun off, came hours after Perpetual announced a strategic review to examine a similar move.
WHSP's offer was the second Perpetual has rejected in just over a year after it turned down a A$33 per share offer from Barings Private Equity Asia (BPEA) and Regal PartnersRPL.AX.
"It now seems to be in play. With one bid on the table, we would be surprised if further bids did not appear," Bell Potter analyst Marcus Barnard wrote in a note to clients.
The A$3.1 billion offer would consist of A$1.06 billion worth of WHSP scrip and A$2 billion worth of Perpetual Asset Management scrip as part of the spin off of that business.
"An opportunistic offer, we expect Perpetual shares will price in the likelihood of an enhanced bid along with potential third-party interest from the strategic review," UBS analyst Shreyas Patel wrote.
WHSP shares were down 2.1% early Thursday.
($1 = 1.5270 Australian dollars)
(Reporting by Scott Murdoch; Editing by Stephen Coates)
((Scott.Murdoch@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 Scott Murdoch SYDNEY, Dec 7 (Reuters) - Australian fund manager Perpetual Ltd PPT.AX shares rose 10% in early trade on Thursday after it rejected a A$3.1 billion ($2 billion) takeover offer from its largest investor, raising the prospect of a bidding war for the firm. Perpetual stock hit the highest level in four months at A$25.93 after the company turned down Washington H Soul Pattinson's (WHSP) SOL.AX bid valuing it at A$27 a share. "An opportunistic offer, we expect Perpetual shares will price in the likelihood of an enhanced bid along with potential third-party interest from the strategic review," UBS analyst Shreyas Patel wrote.
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By Scott Murdoch SYDNEY, Dec 7 (Reuters) - Australian fund manager Perpetual Ltd PPT.AX shares rose 10% in early trade on Thursday after it rejected a A$3.1 billion ($2 billion) takeover offer from its largest investor, raising the prospect of a bidding war for the firm. The bid, which would see Perpetual's asset management business spun off, came hours after Perpetual announced a strategic review to examine a similar move. The A$3.1 billion offer would consist of A$1.06 billion worth of WHSP scrip and A$2 billion worth of Perpetual Asset Management scrip as part of the spin off of that business.
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By Scott Murdoch SYDNEY, Dec 7 (Reuters) - Australian fund manager Perpetual Ltd PPT.AX shares rose 10% in early trade on Thursday after it rejected a A$3.1 billion ($2 billion) takeover offer from its largest investor, raising the prospect of a bidding war for the firm. The A$3.1 billion offer would consist of A$1.06 billion worth of WHSP scrip and A$2 billion worth of Perpetual Asset Management scrip as part of the spin off of that business. "An opportunistic offer, we expect Perpetual shares will price in the likelihood of an enhanced bid along with potential third-party interest from the strategic review," UBS analyst Shreyas Patel wrote.
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By Scott Murdoch SYDNEY, Dec 7 (Reuters) - Australian fund manager Perpetual Ltd PPT.AX shares rose 10% in early trade on Thursday after it rejected a A$3.1 billion ($2 billion) takeover offer from its largest investor, raising the prospect of a bidding war for the firm. Perpetual stock hit the highest level in four months at A$25.93 after the company turned down Washington H Soul Pattinson's (WHSP) SOL.AX bid valuing it at A$27 a share. "An opportunistic offer, we expect Perpetual shares will price in the likelihood of an enhanced bid along with potential third-party interest from the strategic review," UBS analyst Shreyas Patel wrote.
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714334.0
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2023-12-06 00:00:00 UTC
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Highly Ranked Stocks Poised to Move Higher in December
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https://www.nasdaq.com/articles/highly-ranked-stocks-poised-to-move-higher-in-december
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Quite a few top-rated Zacks stocks are near or at their 52-week highs and may be able to lead what is hopefully an end-of-the-year rally among the broader market.
Belonging to the Zacks Rank #1 (Strong Buy) list here are three of these highly ranked stocks to consider as we get closer to rounding out 2023.
Royal Caribbean RCL: Starting with Royal Caribbean, the post-pandemic recovery of the popular cruise operator is reaching new heights going into 2024.
With annual earnings now expected to climb swing to $6.59 per share compared to an adjusted loss of -$7.50 a share in 2022 projections of 37% EPS growth next year suggest Royal Caribbean’s immense probability is back. To that point, FY24 EPS projections of $9.05 a share would only be 5% below pre-pandemic earnings of $9.54 a share in 2019.
As you can imagine, Royal Caribbean’s stock has soared and is now up +139% this year after hitting 52-week highs of $119 a share on Wednesday.
Image Source: Zacks Investment Research
JPMorgan Chase JPM: CEO Jamie Dimon’s wit stood out in today’s annual oversight meeting for the Senate Committee on Banking, Housing, and Urban Affairs.
Dimon appeared to have a lot of the right or rather correct responses to the Senate’s questions and there is strong reason to believe JPMorgan's stock may eclipse 52-week highs of $159 a share in July. Only 2% from its highs, JPM shares are up a very respectable +16% YTD and annual EPS estimates are nicely up over the last 60 days for fiscal 2023 and FY24.
JPMorgan’s stock also trades at a reasonable 9.3X forward earnings multiple and investors are collecting a generous 2.6% annual dividend yield.
Image Source: Zacks Investment Research
FirstCash FCFS: FirstCash Holdings is starting to give investors the steady growth they look for in the portfolio as an operator of pawn stores and a provider of technology-driven point-of-sale payment solutions.
FirstCash shares briefly hit 52-week highs of $115 in today’s trading session and another move higher looks likely with annual earnings forecasted to be up 13% this year and climb another 22% in FY24 to $7.15 a share. Fiscal 2024 projections would also represent 137% EPS growth over the last five years with earnings at $3.01 a share in 2020.
Plus, total sales are expected to expand 16% in FY23 and climb another 8% next year to $3.4 billion. In correlation with such expansive growth, FirstCash shares have risen +65% over the last three years and have soared +30% YTD while offering investors a 1.23% annual dividend yield at the moment.
Image Source: Zacks Investment Research
Bottom Line
The plausibility of more upside looks likely for Royal Caribbean, JPMorgan, and FirstCash stock as we round out the year. They are shaping up to be viable investments for 2023 and beyond and now looks like a good time to buy with all three stocks on the cusp of higher 52-week highs.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
FirstCash Holdings, Inc. (FCFS) : 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 JPMorgan Chase JPM: CEO Jamie Dimon’s wit stood out in today’s annual oversight meeting for the Senate Committee on Banking, Housing, and Urban Affairs. Dimon appeared to have a lot of the right or rather correct responses to the Senate’s questions and there is strong reason to believe JPMorgan's stock may eclipse 52-week highs of $159 a share in July. Image Source: Zacks Investment Research Bottom Line The plausibility of more upside looks likely for Royal Caribbean, JPMorgan, and FirstCash stock as we round out the year.
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Image Source: Zacks Investment Research JPMorgan Chase JPM: CEO Jamie Dimon’s wit stood out in today’s annual oversight meeting for the Senate Committee on Banking, Housing, and Urban Affairs. Image Source: Zacks Investment Research FirstCash FCFS: FirstCash Holdings is starting to give investors the steady growth they look for in the portfolio as an operator of pawn stores and a provider of technology-driven point-of-sale payment solutions. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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With annual earnings now expected to climb swing to $6.59 per share compared to an adjusted loss of -$7.50 a share in 2022 projections of 37% EPS growth next year suggest Royal Caribbean’s immense probability is back. Image Source: Zacks Investment Research Bottom Line The plausibility of more upside looks likely for Royal Caribbean, JPMorgan, and FirstCash stock as we round out the year. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report FirstCash Holdings, Inc. (FCFS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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With annual earnings now expected to climb swing to $6.59 per share compared to an adjusted loss of -$7.50 a share in 2022 projections of 37% EPS growth next year suggest Royal Caribbean’s immense probability is back. FirstCash shares briefly hit 52-week highs of $115 in today’s trading session and another move higher looks likely with annual earnings forecasted to be up 13% this year and climb another 22% in FY24 to $7.15 a share. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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2023-12-06 00:00:00 UTC
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Snap (SNAP) Gains As Market Dips: What You Should Know
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https://www.nasdaq.com/articles/snap-snap-gains-as-market-dips%3A-what-you-should-know-8
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Snap (SNAP) ended the recent trading session at $14.77, demonstrating a +1.16% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.39%. Elsewhere, the Dow saw a downswing of 0.19%, while the tech-heavy Nasdaq depreciated by 0.59%.
The company behind Snapchat's stock has climbed by 33.21% in the past month, exceeding the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08%.
The upcoming earnings release of Snap will be of great interest to investors. The company's upcoming EPS is projected at $0.05, signifying a 64.29% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.36 billion, showing a 4.34% escalation compared to the year-ago quarter.
SNAP's full-year Zacks Consensus Estimates are calling for earnings of $0.05 per share and revenue of $4.6 billion. These results would represent year-over-year changes of -70.59% and -0.01%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Snap. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 1.97% rise in the Zacks Consensus EPS estimate. Snap presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Snap is presently being traded at a Forward P/E ratio of 271.63. This expresses a premium compared to the average Forward P/E of 37.28 of its industry.
It's also important to note that SNAP currently trades at a PEG ratio of 19.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.72.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 34, placing it within the top 14% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Snap Inc. (SNAP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Snap Inc. (SNAP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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At present, this industry carries a Zacks Industry Rank of 34, placing it within the top 14% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Click to get this free report Snap Inc. (SNAP) : Free Stock Analysis Report To read this article on Zacks.com click here.
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At present, this industry carries a Zacks Industry Rank of 34, placing it within the top 14% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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2023-12-06 00:00:00 UTC
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AbbVie To Acquire Cerevel Therapeutics In $8.7 Bln Deal
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https://www.nasdaq.com/articles/abbvie-to-acquire-cerevel-therapeutics-in-%248.7-bln-deal
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(RTTNews) - AbbVie Inc. (ABBV) agreed to acquire Cerevel Therapeutics (CERE) for $45.00 per share in cash, valuing the company at about $8.7 billion.
CERE closed Wednesday's regular trading at $36.93 up $1.34 or 3.77%. In the after-hours trading, the stock further gained $5.82 or 15.76%.
AbbVie will acquire Cerevel Therapeutics' neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson's disease (PD), and mood disorders.
The boards of directors of both companies have approved the transaction. The transaction is expected to close in the middle of 2024.
AbbVie expects the proposed transaction to be accretive to adjusted earnings per share beginning in 2030.
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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(RTTNews) - AbbVie Inc. (ABBV) agreed to acquire Cerevel Therapeutics (CERE) for $45.00 per share in cash, valuing the company at about $8.7 billion. AbbVie will acquire Cerevel Therapeutics' neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson's disease (PD), and mood disorders. AbbVie expects the proposed transaction to be accretive to adjusted earnings per share beginning in 2030.
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(RTTNews) - AbbVie Inc. (ABBV) agreed to acquire Cerevel Therapeutics (CERE) for $45.00 per share in cash, valuing the company at about $8.7 billion. CERE closed Wednesday's regular trading at $36.93 up $1.34 or 3.77%. AbbVie will acquire Cerevel Therapeutics' neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson's disease (PD), and mood disorders.
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(RTTNews) - AbbVie Inc. (ABBV) agreed to acquire Cerevel Therapeutics (CERE) for $45.00 per share in cash, valuing the company at about $8.7 billion. AbbVie will acquire Cerevel Therapeutics' neuroscience pipeline of multiple clinical-stage and preclinical candidates with potential across several diseases including schizophrenia, Parkinson's disease (PD), and mood disorders. AbbVie expects the proposed transaction to be accretive to adjusted earnings per share beginning in 2030.
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(RTTNews) - AbbVie Inc. (ABBV) agreed to acquire Cerevel Therapeutics (CERE) for $45.00 per share in cash, valuing the company at about $8.7 billion. CERE closed Wednesday's regular trading at $36.93 up $1.34 or 3.77%. The transaction is expected to close in the middle of 2024.
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2023-12-06 00:00:00 UTC
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The 3 Best Defense Stocks to Buy in December
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https://www.nasdaq.com/articles/the-3-best-defense-stocks-to-buy-in-december
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors got a jolt back to reality about the volatile geopolitical landscape after the Hamas attacks on Israel. When the news broke, the best defense stocks rallied. However, despite those gains, most defense stocks are still underperforming the S&P 500 year-to-date.
First, the Russian-Ukraine war has triggered an increase in defense spending worldwide. Notably, military spending hit record highs in 2022, fueled by European spending. After years of underinvestment, these nations recognized the risks and increased spending by 13%.
Secondly, the United States and several European nations have provided Ukraine with substantial military equipment and weaponry aid. Therefore, they must replenish their inventory from now on, providing a revenue tailwind for defense stocks. Furthermore, Ukraine still needs critical arms to continue its resistance against the Russian invasion.
Given the geopolitical landscape, there has never been a better time to buy the top defense stocks. Military budgets in the U.S. and among its allies are rising. Here are some of the best defense stocks that are undervalued.
Lockheed Martin (LMT)
Source: Ken Wolter / Shutterstock.com
This defense contractor is famous for its F-35 fighter jets. Indeed, today, Lockheed Martin’s (NYSE:LMT) fighter jets are an integral part of Israel’s defense operations as it pursues Hamas and defends itself. Over the next decade, the company will benefit from increasing military budgets.
With conflicts in the Middle East and Ukraine as well as a looming China-Taiwan war, its technologies have never been more critical. Its fighter jets, mainly the F-35, are crucial to deter enemy combatants and take offensive actions.
The F-35 program is the largest revenue source, accounting for 27% of total sales. Additionally, the company sells air and missile defense systems, helicopters and satellite defense systems.
Amidst the elevated global tensions, backlog was $156 billion by the end of third quarter of fiscal year 2023. In addition to the U.S., allies like Denmark, Czech Republic and South Korea are signing up for F-35 jets. In July, Israel approved an additional purchase of 25 F-35s, bringing its total fleet to 75.
Another big win for Lockheed came in August when it was selected as a strategic partner for Australia’s Air 6500 program Phase 1. Using its proven technology, the company will help connect Australian defense systems and platforms that operate across air, space, land, sea and cyber domains.
Over the past two decades, Lockheed Martin has been central to U.S. and allied defenses. Notably, this relationship has provided a steady source of revenues and hence shareholder returns.
Notably, Lockheed has spent $26.6 billion on buybacks and paid $23 billion in dividends over the last ten fiscal years. Year-to-date, it has generated $4.5 billion in free cash flow and returned $2.2 billion in dividends and $3 billion in repurchases. Buy one of the best defense stocks today for growth and increasing shareholder returns.
L3Harris Technologies (LHX)
Source: JennLShoots / Shutterstock.com
According to Raymond James, L3Harris Technologies (NYSE:LHX) is one of the most undervalued defense stocks. On October 30, the firm upgraded the stock to “outperform,” setting a price target of $210. After underperforming peers due to under-earning, the company will close the gap as earnings normalize.
The company is now in the fifth year of the merger between L3 and Harris. Despite the earlier challenges in merger integration, the company is finally returning to solid execution. Now, with the combination, it can compete with other large defense primes.
Amidst the geopolitical conflicts, L3Harris is proving to be a crucial defense supplier to deter aggression. The U.S. and its allies rely on its intelligence, surveillance and reconnaissance systems. These capabilities support departments like the U.S. Air Force and Navy.
The company also provides avionic systems and advanced wireless and cyber solutions for defense and intelligence customers. Additionally, the company offers tactical communications to defense customers.
Besides improvement in the traditional defense business, the recently closed Aerojet Rocketdyne acquisition will be an earnings driver. Already, Aerojet has won $200 million in awards from the Defense Production Act this year. Moreover, management expects $40 to 50 million in cost savings.
Regarding overall results, L3 Harris is experiencing robust top-line growth, achieving 16% growth in the latest quarter. For the full fiscal year 2023, management expects to deliver double-digit growth supported by demand from the Department of Defense and international. At 15 times forward earnings, LHX stock is one of the best defense stocks to buy.
Kratos Defense & Security Solutions (KTOS)
Source: Michael Vi / Shutterstock.com
Given the secular tailwinds, Kratos Defense & Security Solutions (NASDAQ:KTOS) might be one of the best defense stocks to buy. Demand for unmanned systems is soaring, driving up the company’s revenues.
As the third quarter results revealed, the firm is seeing healthy demand. Revenue growth accelerated to 20% YOY compared to 14.5% in the second quarter. The company is benefiting from increased target drone-related activity. As of October 1, it had a funded backlog of $850.9 million and an unfunded backlog of $314.1 million.
Looking at segment performance, Government Solutions Segment reported $217.9 million in revenues, a 22% organic growth. Sales increased across Space, Satellite and Cyber, C5ISR, Microwave Electronics Products, Turbine Technologies and Training Solutions businesses.
On the other hand, the Unmanned Systems Segment (KUS) saw 13.4% growth. This segment will drive growth from now on. Its revenues for the quarter were only $56.7 million, but significant growth lies ahead. The total backlog for the segment was $227.8 million at the end of the quarter.
Overall, management is optimistic and has increased FY2023 guidance. Additionally, they expect 10% revenue growth in 2024 after excluding tactical drone production orders. With a total funded backlog of $850.9 million, management expects a solid 2024. With increased use of unmanned systems in wars, Kratos is one of the best stocks to buy.
On the date of publication, Charles Munyi did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. He has written for a wide variety of financial websites including Benzinga, The Balance and Investopedia.
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The post The 3 Best Defense Stocks to Buy in December appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Indeed, today, Lockheed Martin’s (NYSE:LMT) fighter jets are an integral part of Israel’s defense operations as it pursues Hamas and defends itself. Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. 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 The 3 Best Defense Stocks to Buy in December appeared first on InvestorPlace.
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Indeed, today, Lockheed Martin’s (NYSE:LMT) fighter jets are an integral part of Israel’s defense operations as it pursues Hamas and defends itself. Buy one of the best defense stocks today for growth and increasing shareholder returns. Kratos Defense & Security Solutions (KTOS) Source: Michael Vi / Shutterstock.com Given the secular tailwinds, Kratos Defense & Security Solutions (NASDAQ:KTOS) might be one of the best defense stocks to buy.
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Additionally, the company sells air and missile defense systems, helicopters and satellite defense systems. Buy one of the best defense stocks today for growth and increasing shareholder returns. Kratos Defense & Security Solutions (KTOS) Source: Michael Vi / Shutterstock.com Given the secular tailwinds, Kratos Defense & Security Solutions (NASDAQ:KTOS) might be one of the best defense stocks to buy.
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Buy one of the best defense stocks today for growth and increasing shareholder returns. At 15 times forward earnings, LHX stock is one of the best defense stocks to buy. The total backlog for the segment was $227.8 million at the end of the quarter.
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2023-12-06 00:00:00 UTC
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Sixth Street Specialty Lending Inc Shares Near 52-Week High - Market Mover
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https://www.nasdaq.com/articles/sixth-street-specialty-lending-inc-shares-near-52-week-high-market-mover-3
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Sixth Street Specialty Lending Inc (TSLX) shares closed today at 0.8% below its 52 week high of $21.14, giving the company a market cap of $1B. The stock is currently up 27.6% year-to-date, up 29.7% over the past 12 months, and up 83.4% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 14.8% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 342.8%
The company's stock price performance over the past 12 months beats the peer average by 363.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -64.9% lower than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Sixth Street Specialty Lending Inc (TSLX) shares closed today at 0.8% below its 52 week high of $21.14, giving the company a market cap of $1B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 342.8% The company's stock price performance over the past 12 months beats the peer average by 363.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -64.9% lower than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Trading Activity Trading volume this week was 14.8% lower than the 20-day average. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 342.8% The company's stock price performance over the past 12 months beats the peer average by 363.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -64.9% lower than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 342.8% The company's stock price performance over the past 12 months beats the peer average by 363.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -64.9% lower than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 342.8% The company's stock price performance over the past 12 months beats the peer average by 363.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -64.9% lower than the average peer.
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714339.0
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2023-12-06 00:00:00 UTC
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The Telehealth Revolution: 3 Stocks Leading the Charge
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https://www.nasdaq.com/articles/the-telehealth-revolution%3A-3-stocks-leading-the-charge
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Most business economists are optimistic that the U.S. economy will avoid a recession in 2024. This is true despite potential challenges in the job market due to higher interest rates. The Federal Reserve has a strategy of using elevated interest rates to control inflation while sustaining economic growth. This is central to this positive outlook, with only 24% of surveyed economists foreseeing a recession. While an uptick in unemployment is expected, the majority anticipates it remaining below 5%. This reflects a general confidence in the economy’s resilience. All of this means now is the time to get into companies that will skyrocket in the coming year. These telehealth stocks will give your portfolio enormous value, but, only if you invest now.
Teledoc Health Inc. (TDOC)
Source: Piotr Swat / Shutterstock.com
Teledoc Health Inc. (NYSE:TDOC) is a global telemedicine company that offers telehealth, medical opinions, AI and analytics services, and telehealth devices. TDOC is down 18.02% YTD, at $18.51 per share. WSJ analysts give TDOC 6 ‘Buy’ ratings. They also forecast a median 12-month price target of $21.50. This ranges from a high of $34.00 to a low of $16.00.
The global telehealth market is forecasted to grow at a CAGR of 19.7%, valued at $142.96 billion in 2023. It is expected to grow to $504.24 billion by 2030. With the expansion of AI into the medical market, the telehealth market is gaining significant traction. Many people in underdeveloped countries are deprived of quality healthcare due to living in rural areas. This is why governments are taking action. Governments are providing virtual care platforms to ensure that everyone has access to the healthcare they need.
Furthermore, Teledoc Health Inc. reported steady Q3 financials. This waswith an 8% YoY growth in revenue to $660.2 million and FCF of $68 million. For the first nine months of 2023, international revenue grew 21% to $269.1 million. Also, the U.S. revenue grew 8% to $1672.8 million.TDOC’s Health Integrated Care segment revenue increased 9% to $374.4 million in Q3. Finally, the BetterHelp segment revenue increased 8% to $285.8 million.
TDOC partners and innovates through multiple partnerships with the largest healthcare payers globally. The company’s main goal, as addressed in Q3, is to offer better health available to more than 90 million members through a broad range of integrated health services available virtually. Jason Gorevic, CEO of TDOC, also said that the company will further advance virtual care in 2024 through its highly successful Unified app, which enables members to access complex states of care from a single device.
CrowdStrike Holdings (CRWD)
Source: Michael Vi / Shutterstock
CrowdStrike Holdings (NASDAQ: CRWD) is a cyber security-based SaaS firm providing AI-powered endpoint cyber security for databases and servers. It has seen consistent growth over the past few years, with a 131% YTD growth rate, and a current stock price of $238.97.
Yahoo! Finance! has 43 analysts predicting a mean price of $233.23, with a high of $275.00, and a low of $172.00 per share.
The use of AI in cybersecurity and a specific focus on endpoint security makes CrowdStrike stand out. The company reported a Q3 2023 revenue of $786 million, with a YoY growth of 35%. Subscription earnings were $733.5 million, with a YoY growth of 34%. According to CrowdStrike, GAAP income from operations was $3.2 million, significantly beating last year’s income, which was negative.
A few reasons for the company’s growth include high ratings in cybersecurity evaluations and an array of new product releases. CrowdStrike achieved perfect 100% coverage scores across protection, visibility, and analytic detections in MITRE Engenuity ATT&CK®: Evaluations Enterprise Round 5, an industry-first. It also released a new version of CrowdStrike Falcon® Go, meeting the cybersecurity needs of small and medium-sized companies. At the Fal. Con Cybersecurity Conference, CrowdStrike also announced data protection, exposure management, and IT automation innovations, along with the next version of their Falcon platform, Raptor.
With these innovations, CrowdStrike became the first independent software vendor to exceed $1 billion in software sales through AWS Marketplace. This software can be implemented very successfully in the telehealth industry as it will allow for the implementation of patient record storage and an analysis of health issues.
CRWD is a strong buy due to its steady revenue stream and innovative product releases.
Predictmedix AI (PMED)
Source: fizkes/ShutterStock.com
Predictmedix AI Inc. (NASDAQ:PMED) emerges as a leading provider of global rapid health screening and remote patient care solutions. The company’s innovative Safe Entry Stations, fueled by proprietary artificial intelligence (AI), employ multispectral cameras to analyze physiological data patterns. These stations can predict a range of health issues, encompassing 19 physiological vital parameters, impairment due to drugs or alcohol, fatigue and various mental illnesses.
In its latest press release this month, PMED unveiled its cutting-edge Safe Entry Stations at the D-30 event in New Delhi, India, attended by delegates from 30 countries. This event marks a significant stride in the global battle against drug addiction and the disabilities resulting from substance abuse. It signifies the collaborative efforts of 30 nations acknowledged by the United Nations for their dedicated initiatives to combat drug addiction on a worldwide scale.
According to analysts at Yahoo! Finance, PMED is perceived as having substantial value for future growth, as every analyst designates it as a “Buy.” Despite PMED’s current stock price of $0.05, many believe it is undervalued. The recent event positions PMED for significant growth, given its current undervaluation and the potential for future expansion. In the continuously thriving Biotech sector, PMED stands out, having already secured an advantageous position through strategic partnerships and robust financials.
On the date of publication, Michael Que 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.
The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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The post The Telehealth Revolution: 3 Stocks Leading the Charge 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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CrowdStrike achieved perfect 100% coverage scores across protection, visibility, and analytic detections in MITRE Engenuity ATT&CK®: Evaluations Enterprise Round 5, an industry-first. The company’s innovative Safe Entry Stations, fueled by proprietary artificial intelligence (AI), employ multispectral cameras to analyze physiological data patterns. These stations can predict a range of health issues, encompassing 19 physiological vital parameters, impairment due to drugs or alcohol, fatigue and various mental illnesses.
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Teledoc Health Inc. (TDOC) Source: Piotr Swat / Shutterstock.com Teledoc Health Inc. (NYSE:TDOC) is a global telemedicine company that offers telehealth, medical opinions, AI and analytics services, and telehealth devices. CrowdStrike Holdings (CRWD) Source: Michael Vi / Shutterstock CrowdStrike Holdings (NASDAQ: CRWD) is a cyber security-based SaaS firm providing AI-powered endpoint cyber security for databases and servers. Predictmedix AI (PMED) Source: fizkes/ShutterStock.com Predictmedix AI Inc. (NASDAQ:PMED) emerges as a leading provider of global rapid health screening and remote patient care solutions.
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Teledoc Health Inc. (TDOC) Source: Piotr Swat / Shutterstock.com Teledoc Health Inc. (NYSE:TDOC) is a global telemedicine company that offers telehealth, medical opinions, AI and analytics services, and telehealth devices. Predictmedix AI (PMED) Source: fizkes/ShutterStock.com Predictmedix AI Inc. (NASDAQ:PMED) emerges as a leading provider of global rapid health screening and remote patient care solutions. Finance, PMED is perceived as having substantial value for future growth, as every analyst designates it as a “Buy.” Despite PMED’s current stock price of $0.05, many believe it is undervalued.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Most business economists are optimistic that the U.S. economy will avoid a recession in 2024. Teledoc Health Inc. (TDOC) Source: Piotr Swat / Shutterstock.com Teledoc Health Inc. (NYSE:TDOC) is a global telemedicine company that offers telehealth, medical opinions, AI and analytics services, and telehealth devices. It has seen consistent growth over the past few years, with a 131% YTD growth rate, and a current stock price of $238.97.
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2023-12-06 00:00:00 UTC
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The Investor’s Wishlist: 3 Dividend Stocks to Buy for a Prosperous New Year
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https://www.nasdaq.com/articles/the-investors-wishlist%3A-3-dividend-stocks-to-buy-for-a-prosperous-new-year
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Discerning investors seek stable yet promising income options to bolster their portfolios in the investment landscape. Delving into the strategies of the listed companies in the article reveals intriguing insights into their strategic prowess and financial fortitude. These are our top dividend stocks to buy.
As technology advances, two leading telecom giants strategically position themselves with 5G innovations, evident in their revenue surges and market dominance. Meanwhile, a real estate stalwart showcases an impressive portfolio expansion strategy and financial resilience, enhancing its attractiveness to investors.
The spotlight on the first one on the list reveals a deliberate focus on 5G and fiber technology, translating into revenue upticks and solidifying its position in the market. Through astute financial management and market segmentation, the second demonstrates robust growth in wireless services and a disciplined approach to capital allocation. The third one, with its strategic acquisitions and merger synergies, presents a compelling case for sustained growth and investor confidence in the real estate domain.
Read more to dive into strategic cues from these dividend titans, guiding investors toward potentially prosperous ventures in the ever-dynamic market landscape.
Top Dividend Stocks to Buy: AT&T (T)
Source: Lester Balajadia / Shutterstock.com
AT&T (NYSE:T) is offering a dividend yield of 6.45%, and it strategically focuses on investments in 5G and fiber technology, which have yielded tangible results. For instance, a 1% increase in consolidated revenues will be driven primarily by wireless service and fiber revenue growth in Q3 2023. The company’s focus on advancing these next-generation technologies positions it for sustained growth.
To begin with, the wireless segment has been a significant driver of growth. It showcases impressive figures such as 468K postpaid phone net adds and a 2% revenue increase. AT&T has a consistent approach to catering to high-value subscribers through competitive deals and network quality. Hence, this has led to notable outcomes, including increased customer retention, higher average revenue per user (ARPU), and minimal churn rates.
On the other hand, AT&T’s focus on expanding its fiber network has resulted in steady growth. As a result, 296K fiber customers were added in Q3, and an approximate 9% increase in fiber ARPU year-over-year. The fiber investments signify AT&T’s lead in addressing consumer preferences for high-speed internet solutions. The company focuses on offering superior broadband services that have fueled customer acquisition. Thus, it boosted revenue streams and significantly increased ARPU, showcasing a robust market demand for such services.
Lastly, AT&T’s emphasis on operational efficiency, cost-saving initiatives, and margin improvements has positively impacted financial performance. AT&T focuses on generating incremental cost savings and aligning operations with the evolving 5G and fiber networks. Finally, the company reduced its net debt by more $3 billion in Q3. It remains on track to achieve its adjusted EBITDA target.
Verizon (VZ)
Source: Ken Wolter / Shutterstock.com
Verizon (NYSE:VZ) provides a dividend yield of 6.92%, showcasing robust growth in key financial metrics. For instance, in Q3 2023, there was a 2.9% year-over-year increase in wireless service revenue and an adjusted EBITDA of $12.2 billion, surpassing previous quarters. The growth underscores the effectiveness of Verizon’s strategic initiatives, emphasizing expanded customer relationships and disciplined financial management.
Moreover, the year-to-date free cash flow of $14.6 billion exceeds the 2022 full-year cash flow. This highlights Verizon’s efficient cash generation capabilities, driving confidence in its dividend stability and value growth potential.
Additionally, Verizon’s net debt reduction focuses on maintaining healthy dividend coverage. The prudent financial management strategies indicate its dedication to enhancing shareholder value while ensuring sustainable dividend growth. Thus, the company has a healthy free cash flow dividend payout ratio of approximately 56%. Hence, this suggests improved financial health and disciplined capital allocation, supporting growth initiatives.
Furthermore, Verizon’s solid leads in the consumer mobility segment stem from its segmented market approach, prioritizing customer choice and flexibility. As a result, there is a growth in postpaid phone net ads and reduced promotional costs. Similarly, in the business domain, Verizon Business Group has consistent growth in postpaid phone net adds, 151K in Q3, with a ninth consecutive quarter above 125K. This illustrates its adeptness in addressing distinct market segments while maintaining profitability, a critical factor in sustaining long-term growth.
Verizon’s focus on operational efficiency is reflected in its emphasis on profitability while optimizing network infrastructure. The company’s cost-efficiency program is on track to meet savings goals ($2 billion to $3 billion annually by 2025). This highlights its ability to generate operational efficiencies across various business domains. Finally, the raised 2023 free cash flow guidance of more $18 billion demonstrates Verizon’s confidence in sustaining robust financial performance and operational growth. This one easily earned its spot on our list of the top dividend stocks to buy.
Realty Income (O)
Source: Shutterstock
Realty Income (NYSE:O) is offering a 5.59% yield, and its strategic prowess in investment deployment is evident through the quarter’s $2 billion investment in high-quality acquisitions. The substantial investments, particularly the $1.4 billion derived from international business, will yield a 6.9% yield in Q3 2023.
Diverse transaction types, such as sale-leaseback deals and larger transactions, are also included, underscoring the company’s flexibility and capability to navigate less conventional investment avenues. Therefore, Realty Income has a distinct competitive advantage in identifying and executing transactions that might not be as prevalent among other net lease companies.
Additionally, the impressive rent recapture rates of 106.9% on new and renewed leases underline Realty Income’s negotiation strength. Also, it highlights the company’s capability to secure favorable terms with tenants. Notably, a same-store rent growth of 2.2% surpassed expectations. It also led to an upward revision of full-year guidance to around 1.5%. Fundamentally, the company’s emphasis on leases with robust rent escalators has proven to be a strategic advantage in driving higher average rent escalators.
Despite challenging capital market conditions, Realty Income delivered a solid performance. The company had a 4.1% growth in Adjusted Funds From Operations (AFFO) per share and an annualized total operational return of approximately 9%. The growth, coupled with the announced merger agreement with Spirit Realty (NYSE:SRC), valued at $9.3 billion, is anticipated to boost AFFO per share immediately. Overall, the anticipated synergies from the merger emphasize the company’s vision to augment AFFO per share growth. It will also allow the company to access capital markets more efficiently. If you are looking for dividend stocks to buy, start here.
As of this writing, Yiannis Zourmpanos held long positions in T and VZ. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.
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The post The Investor’s Wishlist: 3 Dividend Stocks to Buy for a Prosperous New 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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Hence, this has led to notable outcomes, including increased customer retention, higher average revenue per user (ARPU), and minimal churn rates. Finally, the raised 2023 free cash flow guidance of more $18 billion demonstrates Verizon’s confidence in sustaining robust financial performance and operational growth. The growth, coupled with the announced merger agreement with Spirit Realty (NYSE:SRC), valued at $9.3 billion, is anticipated to boost AFFO per share immediately.
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Through astute financial management and market segmentation, the second demonstrates robust growth in wireless services and a disciplined approach to capital allocation. Finally, the raised 2023 free cash flow guidance of more $18 billion demonstrates Verizon’s confidence in sustaining robust financial performance and operational growth. Realty Income (O) Source: Shutterstock Realty Income (NYSE:O) is offering a 5.59% yield, and its strategic prowess in investment deployment is evident through the quarter’s $2 billion investment in high-quality acquisitions.
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Top Dividend Stocks to Buy: AT&T (T) Source: Lester Balajadia / Shutterstock.com AT&T (NYSE:T) is offering a dividend yield of 6.45%, and it strategically focuses on investments in 5G and fiber technology, which have yielded tangible results. Verizon (VZ) Source: Ken Wolter / Shutterstock.com Verizon (NYSE:VZ) provides a dividend yield of 6.92%, showcasing robust growth in key financial metrics. Finally, the raised 2023 free cash flow guidance of more $18 billion demonstrates Verizon’s confidence in sustaining robust financial performance and operational growth.
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Through astute financial management and market segmentation, the second demonstrates robust growth in wireless services and a disciplined approach to capital allocation. Top Dividend Stocks to Buy: AT&T (T) Source: Lester Balajadia / Shutterstock.com AT&T (NYSE:T) is offering a dividend yield of 6.45%, and it strategically focuses on investments in 5G and fiber technology, which have yielded tangible results. Finally, the raised 2023 free cash flow guidance of more $18 billion demonstrates Verizon’s confidence in sustaining robust financial performance and operational growth.
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2023-12-06 00:00:00 UTC
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Performance Food Group Company Shares Approach 52-Week High - Market Mover
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https://www.nasdaq.com/articles/performance-food-group-company-shares-approach-52-week-high-market-mover-2
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Performance Food Group Company (PFGC) shares closed today at 1.4% below its 52 week high of $67.14, giving the company a market cap of $10B. The stock is currently up 11.3% year-to-date, up 8.1% over the past 12 months, and up 92.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 98.0% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -154.8%
The company's stock price performance over the past 12 months beats the peer average by -131.3%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 34.0% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -154.8% The company's stock price performance over the past 12 months beats the peer average by -131.3% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 34.0% higher than the average peer.
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Performance Food Group Company (PFGC) shares closed today at 1.4% below its 52 week high of $67.14, giving the company a market cap of $10B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -154.8% The company's stock price performance over the past 12 months beats the peer average by -131.3% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 34.0% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -154.8% The company's stock price performance over the past 12 months beats the peer average by -131.3% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 34.0% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -154.8% The company's stock price performance over the past 12 months beats the peer average by -131.3% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 34.0% higher than the average peer.
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2023-12-06 00:00:00 UTC
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Chewy (CHWY) Q3 2023 Earnings Call Transcript
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https://www.nasdaq.com/articles/chewy-chwy-q3-2023-earnings-call-transcript
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Image source: The Motley Fool.
Chewy (NYSE: CHWY)
Q3 2023 Earnings Call
Dec 06, 2023, 5:00 p.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Hello, everyone. Thank you for attending today's Chewy third quarter 2023earnings call My name is Ciara, and I'll be your moderator today. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end.
[Operator instructions] I would like to pass the conference over to our host, Jen Hsu, with Chewy. Please proceed.
Jen Hsu -- Vice President and Head of Investor Relations
Thank you for joining us on the call today to discuss our third quarter 2023 results. Joining me are Chewy's CEO, Sumit Singh; and interim CFO, Stacy Bowman. Our earnings release and letter to shareholders, which were filed with the SEC earlier today, have been posted to the investor relations section of our website, investor.chewy.com. On our call today, we will be making forward-looking statements, including statements concerning Chewy's future prospects, financial results, strategies and investments, industry trends, and our ability to successfully respond to business risks.
Such statements are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995 and are subject to certain risks, uncertainties, and other factors described in the section titled Risk Factors in our annual report on Form 10-K and other subsequent quarterly reports, which could cause actual results to differ materially from those contemplated by our forward-looking statements. Reported results should not be considered an indication of future performance. Also, note that the forward-looking statements on this call are based on information available to us as of today's date. We disclaim any obligation to update any forward-looking statements except as required by law.
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Also, during this call, we will discuss certain non-GAAP financial measures. Reconciliations of these non-GAAP items to the most directly comparable GAAP financial measures are provided on our investor relations website and in our earnings release and letter to shareholders, which were filed with the SEC today. These non-GAAP measures are not intended as a substitute for GAAP results. Additionally, unless otherwise noted, results discussed today refer to the third quarter of 2023 and all comparisons are accordingly against the third quarter of 2022.
Finally, this call in its entirety is being webcast on our investor relations website. A replay of this call will also be available on our investor relations website shortly. I'd now like to turn the call over to Sumit.
Sumit Singh -- Chief Executive Officer
Thanks, Jen, and thank you all for joining us on the call today. Before we jump in, as we have previously announced, we will be hosting our inaugural Investor Day next week on Thursday, December 14th. We look forward to seeing many of you in person and encourage everyone to tune in to the live webcast, which can be found on our investor relations website. I am excited to introduce you to our broader senior leadership team next week.
We plan to provide a comprehensive update on our strategic road map, including a deep dive into our Chewy Health business, and we'll share refreshed long-term financial targets. In light of our Investor Day next week, we will streamline today's call to focus on this quarter's results and a few notable recent updates. We will leave most strategy and innovation topics for next week. Now, let's review Q3.
Chewy continues to outperform and gain market share through the present environment. We reported $2.74 billion in net sales this quarter, up 8% against an industry that grew in the low single digits, with pet inflation continuing to return to historical levels. Additionally, the team is executing admirably against controllable factors, as reflected by another strong quarter of 3% adjusted EBITDA margin. Consistent with the expectation we shared on our lastearnings call active customers declined marginally on a sequential basis.
Looking beyond the near term, we believe we remain well-positioned to drive improved active customer trends as the macro environment and pet household formation trends recover. Notably, we yet again demonstrated our ability to grow wallet share with our customers as net sales per active customer, or NSPAC, exceeded $540, up nearly 14%. Throughout the third quarter, customer engagement remained strong. Our industry-leading mix of nondiscretionary consumables and health, bolstered by our Autoship subscription service, continues to reinforce the structural soundness and defensible nature of our business model.
The loyalty and spending resiliency of our Autoship customers remains unabated, with no changes to their ordering behavior. Additionally, our conversion of new customers into Autoship continues at a healthy rate. As a result, Autoship customer sales continued to outpace overall top-line growth and were up nearly 13% in the quarter and represented over 76% of net sales. Nondiscretionary consumables and health categories anchor our business, collectively representing approximately 85% of third quarter net sales.
Pharmacy continued to grow at a premium to the overall company and now represents north of $1 billion business for us based on trailing 12-month net sales. At this scale, Chewy is the No. 1 pet pharmacy in America. We look forward to sharing more with you about the financial performance and strategic direction of our health business holistically at next week's Investor Day.
As anticipated, we launched Chewy Canada at the end of September, bringing Chewy's compelling value proposition to millions of pet parents in Canada. Initial customer demand has been strong. Autoship sign-up rates are healthy, our delivery experience is compelling, and customer satisfaction is high. While it is early, we are pleased with our progress in market thus far, with key indicators of success pointing toward a bullish future.
Turning to profitability. We reported gross margin of 28.5%, which is a new record in itself. Strength in gross margins reflects mix/rate benefits, tightly managing promotional spend, and strong performance in logistics by our team. Finally, adjusted EBITDA margin came in at 3% for the quarter, even during a period in which we had planned pronounced growth investment.
Shifting gears from end-quarter results. I'd now like to provide some commentary on how we performed on Black Friday and Cyber Monday of this year. We observed strong customer purchasing intent during this important holiday shopping week. Traffic and sales exceeded our expectation across all categories, including hard goods, and conversion rates were up year over year.
New customer acquisition was 40% higher than our Q3 weekly average. While we have seen trends return to pre-holiday levels, our Black Friday and Cyber Monday performance is encouraging. Specifically, while consumer spending behavior remains opportunistic in the current environment, our results illustrate that Chewy's value proposition continues to resonate loudly and will prevail when consumer demand and industry inputs improve. Before I turn the call over to Stacy, I would like to share some context regarding a couple of important companywide developments.
In November, as part of our 2024 strategic planning process, we implemented actions to reduce our headcount in certain areas of the organization. This decision was carefully considered as part of our ongoing focus on becoming an ever more agile and disciplined company and aligns our efforts into priorities, which we believe will gain us the most significant customer wins and generate the highest business returns. While we consolidated some roles within the organization, we continue to invest in other high-priority areas. As we head into 2024, we expect these actions to create room for us to continue investing behind our growth initiatives.
We are incredibly grateful to our team members for their contributions and remain committed to supporting them during this transition. Lastly, I am excited to announce that David Reeder will be joining us as Chewy's new chief financial officer starting early in 2024. Dave joins us from GlobalFoundries, where he is currently CFO. He brings with him extensive experience across a multitude of operational and financial roles at GlobalFoundries, Lexmark, Cisco, and Broadcom, among others.
I look forward to working with Dave as we continue to execute against the many compelling growth and margin opportunities across our ecosystem. I would also like to thank Stacy for all that she has done to support me and the Chewy team in her role as interim CFO. Following Dave's start date, Stacy will continue to serve as our chief accounting officer. With that, I will turn the call over to Stacy.
Stacy Bowman -- Interim Chief Financial Officer
Thank you, Sumit, and thank you all for joining us today. In the third quarter, net sales grew 8.2% to 2.74 billion. Autoship customer sales growth outpaced total net sales growth by almost 460 basis points and came in at 2.09 billion in Q3, up 12.8%. Autoship customer sales now represent 76.4% of total net sales.
We ended the third quarter with 20.3 million active customers. Our primary measure of customer engagement, NSPAC, grew 13.8% year over year to $543, yet again reaching a new record high. As we move down the P&L, please note that my discussion of financials, where applicable, refers to metrics excluding share-based compensation expense and related taxes, as well as certain other adjustments disclosed in our SEC filings where relevant. The same applies to my discussion of guidance and financial outlook.
Gross margin reached 28.5% in Q3. Our Q3 gross margin highlights our ability to deliver steady margin accretion in this part of the P&L, and we continue to believe there is meaningful room for continued gross margin expansion over time. Continuing on to opex. SG&A totaled 545.9 million, or 19.9% of net sales, deleveraging 30 basis points compared to the third quarter of 2022.
This increase was largely driven by investments related to our growth initiatives. Q3 advertising and marketing expense was 179.2 million, or 6.5% of net sales, consistent with our expectation of 6% to 7% of net sales. Third quarter adjusted net income was 63 million, an increase of 14.6 million. Third quarter adjusted EBITDA reached 82.1 million, up 11.7 million, implying an adjusted EBITDA margin of 3%.
Third quarter free cash flow of 48.5 million continues to be strong, reflecting 80.2 million in net cash provided by operating activities and 31.7 million in capital expenditures. Our third quarter trailing 12-month free cash flow was over 300 million and demonstrates our ability to execute sharply and generate meaningful cash flow through all economic environments. Capital expenditures continue to be comprised primarily of automated fulfillment center investments and ongoing technology projects. As planned, our capex spend tapered this quarter following above-average capex intensity in the second quarter, and we expect 2023 capex to remain in the range of 1.5% to 2% of net sales, consistent with past investment levels.
We finished Q3 with 957.2 million in cash and cash equivalents and marketable securities, nearly 351 million higher than the balance at this time last year, and we remain debt-free. At the end of Q3, between cash on hand, marketable securities, and availability on our ABL, our liquidity stood at 1.7 billion. That concludes my recap of our third quarter results. So, now, let me cover our fourth quarter and full year 2023 guidance.
While we remain confident in the overall resilience of the pet category, as well as Chewy's ability to deliver growth above industry average, in light of the near-term macro environment, we are updating our top-line guidance as we head into year-end. We expect fourth quarter net sales to be between 2.78 billion and 2.8 billion, representing year-over-year growth of approximately 3%. We are narrowing and revising our full year 2023 net sales outlook to be between 11.08 billion and 11.1 billion, representing growth of approximately 10% compared to full year 2022. We are reiterating our full year 2023 adjusted EBITDA margin outlook of 3%.
As you update your models, also note that we expect our free cash flow for full year 2023 to be in excess of 2.5 times the free cash flow we generated in full year 2022, implying an adjusted EBITDA to free cash flow conversion rate north of 80%. Our third quarter results once again demonstrate Chewy's unique ability to deliver strong results in the current environment. We expect to continue taking share and expanding profitability while the pet industry works its way back toward steady-state trends, and we remain highly encouraged by the various strategic opportunities that lie ahead. We look forward to seeing many of you next week.
With that, I will turn the call over to the operator for questions.
Questions & Answers:
Operator
Thank you. [Operator instructions] Our first question today comes from Eric Sheridan with Goldman Sachs. Please proceed.
Eric Sheridan -- Goldman Sachs -- Analyst
Thank you so much for taking the question. I just want to come back to the Q4 guidance on the revenue side. Can you walk through some of the headwinds and tailwinds we should be thinking about in terms of the revenue build for Q4 and how much of this is down to broader promotional or competitive intensity versus elements of the macro environment and basket size or just the lapping effect of inflation from a year ago? Thanks so much.
Sumit Singh -- Chief Executive Officer
Hey, Eric. This is Sumit. So, I'll speak to it. Our guidance reflects sales growth that is expected to outpace the industry, first of all.
So, we're continuing to see changes happen post our commentaries from the July, August time frame when we last spoke. So, here's -- here are a couple of main points. When you look year over year, the revenue composition is shifting out of pricing and more into structural unit and attach. So, there is little or no benefit from pricing from a comp point of view.
That, combined with continuing lower mix of hard goods and discretionary this year relative to last year, explained sort of the year-over-year comps that you're seeing. As it relates to guidance, the softness that we called out last quarter that we started seeing in the July, August time frame has persisted. We're seeing the impact of this softness most materially in the non-Autoship portion of our business, so the 25% of the business that doesn't go to Autoship, and primarily across highly discretionary components, some consumable components. This is related and coupled with the impact of the newer customer cohorts that we talked about last time where loyalty is still continuing to be earned, right? These customers are early tenure, and we're taking steps to engage with them and making forecasting a little bit difficult across the macro that is keeping discretionary soft and over-on spending patterns a little bit opportunistic.
So, you know -- so that is all reflected in the new guidance that we're providing. We came out of last quarter starting to see these trends. The trends have sort of persisted. So, this time was the right time to make the call to update the guidance as we're seeing it at this time.
You know, having said all this, you know, we have a moat in the Autoship portion of the business that remains strong and has proven to be resilient through to the current macro per se. I'm happy to take a follow-up. And I just want to reiterate that at the midpoint of our '23 net sales guidance, we will deliver approximately 10% growth year over year, which is share-gaining. And then next week's Investor Day, we intend to share additional perspective on our long-term growth algorithm and expectations.
Eric Sheridan -- Goldman Sachs -- Analyst
Great. Thanks for the color, Sumit.
Sumit Singh -- Chief Executive Officer
Sure.
Operator
Our next question comes from Doug Anmuth with J.P. Morgan. Please proceed.
Doug Anmuth -- JPMorgan Chase and Company -- Analyst
Thanks for taking the questions. Sumit, I got the color there on 4Q revenue. Can you just help us square a little bit the strong Black Friday and Cyber Monday performance you called out with the rest of the outlook for 4Q? Is that just purely promotional-driven, and I guess why does that give you some degree of longer-term confidence? And then second, perhaps you can just provide a little bit of color on how you're thinking about gross margins in 4Q. Obviously, the EBITDA -- implied EBITDA guidance is down.
You mentioned a few things there on revenue. But is that related to promotions, normalizing inflation, some seasonality, any other factors we should think about?
Sumit Singh -- Chief Executive Officer
Sure. There's a lot there nicely [Inaudible] there's a lot there. So, let me decouple it one by one and Stacy can jump in at any point if I miss anything. So, first of all, you know, promotional activity during Black Friday was slightly steeper than prior year, although it remained broadly rational.
So, what we are essentially calling out is the way that we went to market, the specific offers that we took to market, the way customers engaged with the overall proposition. Our existing customers engaging, along with some -- along with the healthy mix of new customers that we picked up, essentially signals to the fact that, structurally, right, the business is sound, and when stimulated the right way and customers being in the right mind frame, they do respond. So, it sort of speaks to the tenability of the industry rebalancing, you know, once customer pressure sort of abates. That's the reason we provided those commentaries.
We thought it would be helpful. Overall, the way that we're thinking about gross margin, we expect to hold within the 28% range, you know, that we've been communicating so far. So, we don't expect an impact to gross margin because, you know, we expect a promotional environment moving forward to remain rational with typical seasonal guardrails similar to what we've observed over other Black Fridays, Cyber Mondays. Happy to provide more promotional color in the way that we've played through Q4.
So, all of the Q3 implied EBITDA that you're seeing is essentially as a result of incremental dollars spent during this Black Friday, which was roughly approximately 30 basis points higher than last year. So, that component is building in. And then two, our growth investments started flowing through in Q3 and are continuing to flow through to Q4. So, if you normalize for that, it essentially gets you back to the healthy levels of EBITDA that we've delivered in the front half of the year.
Anything to add, Stacy?
Stacy Bowman -- Interim Chief Financial Officer
Yeah. I would just reiterate that our Q4 profitability reflects the usual seasonal impact of holiday promotional activity. But as Sumit just mentioned, it was largely rational and within our expectations, and we will see some investment behind our growth investments. So, that flows through to the adjusted EBITDA.
But I do want to reiterate that we are really proud that we're able to self-fund our growth, and so we continue to do so throughout the year.
Doug Anmuth -- JPMorgan Chase and Company -- Analyst
Thank you, both.
Sumit Singh -- Chief Executive Officer
Sure.
Operator
Our next question comes from Lauren Schenk with Morgan Stanley. Please proceed.
Nathan Feather -- Morgan Stanley -- Analyst
Hey, everyone. Thanks for taking my question. This is Nathan Feather on for Lauren. Can you dig a bit more into the direct impact of macro across each of gross adds, churn, and NSPAC? And then is the embedded macro environment in the 4Q guide worsening for 3Q or is it just largely stable? Thank you.
Sumit Singh -- Chief Executive Officer
Hey, Nathan. This is Sumit. So, on the macro, it is -- you know, the trends that we started seeing coming out of Q3 have largely persisted, right? For the most part, you're seeing discretionary -- the spending in discretionary being low persisting, you're seeing a shift out of that into drive persisting. So, nothing has broadly changed.
We're not seeing broad trade-downs happen on our side. So, you know, customers that are engaging with premiumized assortment aren't the ones essentially trading down. So, loyalty within core consumables categories and customers' general reluctance to switch from a proven food that works well for their pet, that is pretty intact. The power of the Autoship model, which facilitates the stickiness and behavior, is intact.
And all of the softness that we're seeing is primarily in our non-Autoship-driven businesses, which are more egregiously weighted toward, you know, discretionary, including categories such as treats per se. You had a second part to your question, I think.
Nathan Feather -- Morgan Stanley -- Analyst
Additional commentary on NSPAC, gross adds.
Sumit Singh -- Chief Executive Officer
Our commentary on customers hasn't necessarily changed. You know, we guided in Q3 that we expect a wider outcome. You know, if you can -- I mean, of course, we've been about roughly 100,000, 150,000 customers down on a year-over-year basis, on an average, 100,000 customers. We don't expect to make that up.
And our customer sentiment doesn't change, you know, up until sort of the macro starts resolving. We're happy with the way that we played through Black Friday, Cyber Monday. We're happy with the way customers are responding to us across our consumables, Autoship, health type categories. Our reactivation rate remains pretty strong.
So, all of those are positive trends. Q4 typically comes with a very high mix of seasonal discretionary categories. And if you look at it from a year-over-year perspective, it's down relative to last year. But compared to 2021, discretionary is down roughly on a mix basis, roughly 15%.
And that, definitely, has an impact.
Stacy Bowman -- Interim Chief Financial Officer
Yeah. I would just go back to the NSPAC point as well. We continue to meaningfully expand our wallet share. So, it continues to show our loyal customer base, and they continue to penetrate into other categories such as our high-margin health category and whatnot.
So, we are seeing some growth there, as demonstrated over -- by our record high this quarter.
Nathan Feather -- Morgan Stanley -- Analyst
Great. Thank you.
Operator
Our next question comes from Anna Andreeva with Needham. Please proceed.
Anna Andreeva -- Needham and Company -- Analyst
Great. Thanks so much. Good afternoon. A couple from us.
I guess, as we continue to see inflation as is the state into next year and the consumer remains pretty price-sensitive, how do you think about the trade-down for Chewy in margins versus top line? I guess, in other words, would you pull back on promotions to this non-Autoship customer to preserve margins or not necessarily? And secondly, just to follow up on Canada, did you break out Canada in terms of net adds and sales during the quarter and are you seeing similar consumer behavior with trade-down to value in the region as well? Thanks so much.
Sumit Singh -- Chief Executive Officer
Sure. Hi, Anna. So, first of all, our discounting/promo spend isn't materially elevated. From the beginning of this year, we had said that, you know, there's an opportunity that we might spend up to 30 basis points higher in promotions on a year-over-year basis.
And so far, you know, we would -- we had not seen, you know, the environment where that spend had come true, and we've seen it only during the holiday period, where our discounting/promotional spend was roughly 30 basis points higher than last year. And beyond that, we've gone back to our normal levels of discounting, which may be very slightly elevated now, just responding to seasonal patterns. But broadly speaking, promotionality, you know, remains relatively rational from our vantage point. Also, we want to make sure that it is clear that, you know, our ability to navigate through kind of the promotional variability, you know, however small it might be, is reflected in -- you know, reflected through the continuous kind of strong gross margin performances.
And last, I would say, you know, we continue to work closely with our supplier partners, you know, to ensure a high degree of MAP compliance, which essentially protects prices and large variability in the pet space. And we expect MAP discipline to be enforced by the overall market as we continue to move through Q4 and beyond. So, that was the first part of your answer. Number two, in Canada, yes, we liked the business the way it's performing.
We're continuing to add assortment and open up, you know, geography, which we will come talk to you here in the next one to two quarters, alongside, overall, in FY '23, the business has not a material impact. So, we'll stay away from providing numbers or guidances accordingly. And we're seeing consumers respond well to promotions around the Boxing Day time frame. And even there, we've actually pulled back and gone back to leading our businesses or building it via a recurring theme in mind.
So, we are heavier on Autoship and not so much on non-Autoship-type transactional offers.
Anna Andreeva -- Needham and Company -- Analyst
All right. Fair enough. Thanks so much.
Sumit Singh -- Chief Executive Officer
Sure.
Operator
Our next question comes from Rick Patel with Raymond James. Please proceed.
Rick Patel -- Raymond James -- Analyst
Thank you. Good afternoon, everyone. I just had a question on active customers. So, to what extent are you still being impacted by churn of COVID cohorts in terms of the headwind? And as we think beyond macro and pet household formation, can you talk about the levers you have to accelerate new customers that are under your control? I'm curious if you would consider leaning more into discounting or marketing to get more consumers into your ecosystem.
Sumit Singh -- Chief Executive Officer
Sure. So, our COVID cohorts, I'm just looking at the data here, they continue to settle out well, and the highest amount of churn that we're seeing is actually in the near-term cohorts. So, I provided a little bit of color on this in my -- in the last quarter's earnings script around customers that were picked up in the '22 or the near-term cohort that were demonstrating more discretionary-type behavior. Beyond that, our COVID cohorts continue to settle out well and churn rate there, you know, has continued to stabilize now that we're past the two-year mark for the 2020 cohort and the '21 -- for the most part, '21 cohort as well.
And so, just to be sure, you know, we've been consistent in saying that their retention was, you know, just low single-digit percentage point lower than our classic kind of best high-quality legacy cohorts, and that theme has essentially stayed consistent as well. The second part of your question is what levers do you have to accelerate new customer growth? Will you lean into discounts on marketing? So, marketing, our philosophy, as you know, is not to govern ourselves with a specific dollar amount, rather to essentially spend up to the point where we see profitable returns. So, it's a more fluid budget, and our marketing teams are fully empowered. You know, a large portion of our spend is lower funnel, with healthy mixes into mid and upper funnel.
So, while upper funnel budget is less flexible, you know, on a lower funnel basis, we react based on how we see market demand and consumer kind of predictive lifetime value per se. So, we're optimizing there appropriately, in our opinion. You know, the discretionary that actually drives a very healthy level of customer acquisition into the platform, of course, is muted, and the gaps that we're seeing primarily from a historical point of view are all deltas that are coming from those categories, primarily our premium businesses, you know, continue to outpace historical acquisition rates, which we're happy about because they build high-quality cohorts. In terms of discounting, we've always believed in building, you know, a high-quality recurring business, less so a transactional business.
We leaned into, you know, discounting tactics early in '23 and late in '22, and that is part of the reason why we believe these cohorts are not as sticky as our legacy cohort. So, that's a good lesson learned. Even though our intuition was true, you know, we went out, tested it, found it to be true again, and we've pulled back on that pretty dramatically. We don't expect to bring that back.
Yeah, happy to take a follow-up.
Rick Patel -- Raymond James -- Analyst
Thanks very much.
Sumit Singh -- Chief Executive Officer
Sure.
Operator
Our next question comes from Steven Zaccone with Citi. Please proceed.
Steve Zaccone -- Citi -- Analyst
Great. Good afternoon. Thank you very much for taking the question. I wanted to follow up on the pricing discussion.
So, it sounds like the fourth quarter outlook embeds that pricing will basically be flat year over year. Is that the right way to think about your initial outlook for '24? You know, we've heard more about pet food supply coming to the market, so I'm just curious how you think pricing trends into next year.
Sumit Singh -- Chief Executive Officer
Yeah. It's a good question. So, a couple of points there. First, you know, from our vantage point, we do not expect deflationary pressure in the consumables or the health categories.
You know, we -- we've heard certain questions or acknowledged that there's been commentary out in the market around potential food deflation in the near term. You know, we do not believe that deflationary pressure, which may exist or impact traditional grocery and food players, will translate into the pet category, right? There's a -- consumables in pet category are branded. Our vendors have significantly invested. And jointly, you know, we are motivated in protecting MAP pricing framework, which, broadly speaking, does not exist in conventional grocery per se, which is nonbranded.
So, anyway, so that's the comment there. Second, you know, pet inflation continues to come down, and this quarter, running at mid-single digits. You know, ultimately, we believe this will very quickly come down to low single-digit levels and there will be no impact of pricing or no benefit for pricing as we get into next year. You might see a little bit of pricing benefit getting into Q1 based on kind of how the cost price increases came in through '22, '23, but you will not see any impact or any benefit of pricing as we move out of our Q1 quarter.
So, you know, what does that mean? It means that as the pricing environment continues to normalize, structural unit growth is -- will essentially drive the majority of the overall top-line growth, and we expect Chewy to remain in share-gain position in 2024 as well.
Steve Zaccone -- Citi -- Analyst
OK. Understood. I do have a brief follow-up. So, the announcement around some of the cost savings, just to be clear, do you expect those savings to flow to the bottom line or will you need to reinvest those savings in other initiatives?
Sumit Singh -- Chief Executive Officer
Not need to. We will choose to reinvest. The answer is yes to both. Yes, some of that will flow to the bottom line, so we will drive leverage as a result of these actions, which we will quantify more when we talk to you about 2024 guidance.
And we will also prudently invest back in what we consider A-list priorities for the company that are poised for new customer acquisition and growth in the future.
Steve Zaccone -- Citi -- Analyst
OK. Thanks. See you next week.
Sumit Singh -- Chief Executive Officer
Thank you.
Operator
Our next question comes from Brian Fitzgerald with Wells Fargo. Please proceed.
Brian Fitzgerald -- Wells Fargo Securities -- Analyst
Thanks. Maybe two broader ones. What are you seeing in the broader pet household market in the U.S. and Canada? Are there differences between the two? What about shelters and rescue adoption levels, bringbacks? Any color on the market for pet households? And then can you give us an update on your advertising initiatives and what you're seeing and doing there? Thank you.
Sumit Singh -- Chief Executive Officer
Hey, Brian. Lots of questions. Let's unpack them one by one. Broader pet household markets in the U.S.
and Canada, I talked about customer behavior through the holiday period, which is the most recent period that we were playing through. Similar participation rates. Canadian customers love the brand. The customer centricity, delivery experience, overall proposition, wow experiences, etc.
are resonating very loudly there. So, we're happy to see that. Differences that we're seeing, you know, slightly higher population of our mix of cat relative to dog. As a result, we're going to see, obviously, slightly lower AOVs.
Not a surprise. This is something that we knew going in, studying the Canadian market. We're happy to see the mix that is playing through right now. As we ramp -- continue to ramp up premium assortment that pushes through from Q4 into Q1, we're going to see that premium mix jump even more.
Also, not a surprise. So, overall, I would say broadly, and just so you know, we haven't yet turned on marketing in Canada. We're playing through some basic, you know, cold start marketing, as you would expect a start-up to do. And so, we're essentially actively learning the market as we do, you know, in a humble and curious manner.
But we're poised to receive the signals, and we like the signals that we're receiving right now. Number two, any trends. Adoptions are down 16% year over year, relinquishments are down 3% year over year. So, what that tells you is that broader trends of pet adoptions being down hasn't reversed.
At the same time, fewer pets were returned back to shelters to the tune of 3%. So, overall, you know, the trend hasn't broadly reversed. What else? Advertising -- update on advertising initiatives. We are pleased with the ramp.
We have essentially released more supply. Our commitment was to start ramping this up in the back half of this year, and we've ramped up incredibly. The gross margins, strong performance that we're -- that we are seeing. We didn't actively put this in the script.
It is a combination of the discipline from the team in execution and the two line items that are playing through are contribution of adds, as well as our work through supply chain and to logistics, where we're seeing a better benefit come through. So, overall, we're happy. Suppliers -- we're out in front of suppliers now as we, you know, get down into annual vendor negotiations. We're having good conversations, listening to the right type of feedback, and we're poised to ramp this up in 2024.
Brian Fitzgerald -- Wells Fargo Securities -- Analyst
Got it. Thank you. Appreciate it.
Sumit Singh -- Chief Executive Officer
Sure. No problem. Thank you.
Operator
Our next question comes from Steve Forbes with Guggenheim. Please proceed.
Steve Forbes -- Guggenheim Partners -- Analyst
Good morning, Sumit, Stacy. Sumit, I wanted to start on pharmacy sales. You mentioned achieving $1 billion on an LTM basis. So, sort of a two-part question.
One, what was the growth rate during the quarter and sort of any context around gross margin benefit from that mix in isolation? And then two, I know, Sumit, we've talked in the past about share of pharmacy within your pharmacy customer base. What does that $1 billion represent in terms of share?
Sumit Singh -- Chief Executive Officer
Yeah. Steve, nice to hear from you. We will satisfy more of your curiosity next week when we see you at Investor Day. In terms of, you know, mix and gross margin, we -- obviously, you know, pharmacy delivers premium gross margins, as we've said in the past.
And essentially, what we saw in Q3 is pharmacy over-delivering through gross margin, offsetting all of the decline that we saw from the higher margin hard goods businesses, which are obviously slower given the discretionary pressures that we're seeing. So, for now, I'll give you -- I'll leave you with that qualitative commentary. And in terms of presenting CAGRs and growth rates and share positions, we will talk about that more next week.
Steve Forbes -- Guggenheim Partners -- Analyst
OK. And maybe just a quick follow-up, right, I think we noticed some shipping threshold changes during the quarter. I don't know if you can maybe just help frame to the group here, you know, why did you test lower threshold, sort of what drove you to that decision, and what its learnings informed you about that part of the value proposition in the current backdrop?
Sumit Singh -- Chief Executive Officer
Yeah. You know, it's all -- it's -- I like your framing, right, what did you learn because it is all part of our continuous test and learn in how to add more value from the platform into the customer. And there are a couple of ways you can add value. You can price discount brands transactionally.
And that, to us, sometimes becomes brand dilutive and you don't really drive, you know, recurring sort of behavior shifts. The other one is, you know, testing or lowering barriers for customers. And so, in this particular way, you know, we're testing if shipping across certain categories or certain classes or certain segments of customers, you know, is a barrier and how we essentially pass value directly back to the customer without -- while at the same time, protecting you know, our vendor partner brands, you know, that we've so proudly built on our platform. So, you know, this is something that you will continue to see from us.
You know, if we signal any broad shifts, we'll be transparent around that. For the most part, you know, we're liking, you know, some of the elasticity that we're seeing around seasonal trends. On others, you know, we've always been proud of the fact that customers build really healthy baskets with us. So, you know, what some other brands might feel as barriers, you know, are not always barriers when you interact with Chewy.
So, it's a healthy set of learnings that we're playing through.
Steve Forbes -- Guggenheim Partners -- Analyst
Thank you.
Operator
Our next question comes from Lee Horowitz with Deutsche Bank. Please proceed.
Lee Horowitz -- Deutsche Bank -- Analyst
Hi. Thanks for the question. A couple if I could. I guess with user pressures persisting longer than you guys would have thought entering the year, how do you get comfortable with the idea that Chewy can, in fact, grow users even if pet household formation remains under pressure for a sustained period of time? And then secondly, I know this is a topic that we'll dive deeper on next week, but can you comment at all on how CarePlus adoption or customer adoption rates have materialized in the back half of this year? And perhaps, how do you guys think about driving greater adoption of Chewy services broadly? Thanks so much.
Sumit Singh -- Chief Executive Officer
Sure. The second part of your question around CarePlus and driving services adoption, we will answer more holistically next week. We promise to bring you a really engaging and comprehensive update there. So, thank you for your patience on that.
On the first part of your question around how do we get comfortable with the idea that Chewy can still grow active customers? So, I will say two things. First of all, you know, we are a -- we're a young player, right? We are a 12-year-old company. So, we're obviously learning through a lot of these trends. But we have the benefit of having strategic relationships with our vendor partners who've played through the pet category for decades.
And so, when we sit with them and understand historical data, you know, times that the pet industry has been pressured and break down the components of pet growth, tonnage growth, ASP growth, etc., etc., you know, everything points to the fact that pet ultimately comes out resilient. Right now, pet household formation is muted, and it's muted because of the high kind of pressures that consumers are seeing from every direction. But it is expected that this will abate or no reason to believe why this will not abate. In fact, you know, in 2006 recession, or '06 to '08, you know, when overall CPG spending was down 2%, pet was actually up 6% during that time.
And, you know, there's this element of companionship that continues to play through. If you look at the last 10 years, premiumization has had a big impact. So, the humanization and premiumization trends are expected to continue. The difference in '06 versus -- 2006 to '08 versus now is that the level of inflations that are passed through the system have been unprecedented.
So, it's taking -- you know, recovery that usually takes four to six quarters has essentially taken a bit longer. But ultimately, it's expected to return back to normal levels. So, that's sort of one industry context. The second reason why we feel confident is because the structural value proposition that is fueled both by new customer acquisition but also growing share of wallet is highly, highly, you know, sound at Chewy.
The way that we acquire and then build baskets with you, the complementarity of features that we put on top of, you know, consumables and getting you into healthcare and then selling you an insurance and building your share of wallets, which, by the way, we will provide more intuition into next week when we see you for Investor Day, you know, allows us to sit back and evaluate the long-term trajectory of our consumer being highly recurring in nature and highly profit-contributing to the bottom line. So, I think with the two flywheels, the acquisition and the share of wallet growth, it provides us, you know, a defensible moat around models that primarily have either fixed subscription service on one side or that must acquire customers to continue delivering top-line algorithm growth.
Lee Horowitz -- Deutsche Bank -- Analyst
Helpful. Thank you so much.
Sumit Singh -- Chief Executive Officer
Sure.
Operator
Our last question today comes from Rupesh Parikh with Oppenheimer. Please proceed.
Rupesh Parikh -- Oppenheimer and Company -- Analyst
Good afternoon. Thanks for taking our question. So, just going back to Canada, your commentary there was very upbeat. Just any surprises thus far in terms of how that launch is going?
Sumit Singh -- Chief Executive Officer
It's a very good question. You know, our surprises are always around how could we have moved faster? So, no particular surprises. It's just, you know, learnings that we sort of internally ramp up to ourselves. You know, how can we move faster, expanding regions? How do we double down on ramping more assortment up? How do we understand consumer behavior better? So, it's just all of those areas that we're focused on.
I would say all the right things per se. But it's a good one. I'll give the surprise a little more thought and perhaps we can talk next week when we see each other great.
Rupesh Parikh -- Oppenheimer and Company -- Analyst
Great. Thank you.
Operator
Thank you for your question.
Sumit Singh -- Chief Executive Officer
We really appreciate your time, and we hope to see you all next week. Thank you.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Jen Hsu -- Vice President and Head of Investor Relations
Sumit Singh -- Chief Executive Officer
Stacy Bowman -- Interim Chief Financial Officer
Eric Sheridan -- Goldman Sachs -- Analyst
Doug Anmuth -- JPMorgan Chase and Company -- Analyst
Nathan Feather -- Morgan Stanley -- Analyst
Anna Andreeva -- Needham and Company -- Analyst
Rick Patel -- Raymond James -- Analyst
Steve Zaccone -- Citi -- Analyst
Brian Fitzgerald -- Wells Fargo Securities -- Analyst
Steve Forbes -- Guggenheim Partners -- Analyst
Lee Horowitz -- Deutsche Bank -- Analyst
Rupesh Parikh -- Oppenheimer and Company -- Analyst
More CHWY analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool has positions in and recommends Chewy. 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 decision was carefully considered as part of our ongoing focus on becoming an ever more agile and disciplined company and aligns our efforts into priorities, which we believe will gain us the most significant customer wins and generate the highest business returns. While we remain confident in the overall resilience of the pet category, as well as Chewy's ability to deliver growth above industry average, in light of the near-term macro environment, we are updating our top-line guidance as we head into year-end. Can you walk through some of the headwinds and tailwinds we should be thinking about in terms of the revenue build for Q4 and how much of this is down to broader promotional or competitive intensity versus elements of the macro environment and basket size or just the lapping effect of inflation from a year ago?
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On our call today, we will be making forward-looking statements, including statements concerning Chewy's future prospects, financial results, strategies and investments, industry trends, and our ability to successfully respond to business risks. As you update your models, also note that we expect our free cash flow for full year 2023 to be in excess of 2.5 times the free cash flow we generated in full year 2022, implying an adjusted EBITDA to free cash flow conversion rate north of 80%. Operator [Operator signoff] Duration: 0 minutes Call participants: Jen Hsu -- Vice President and Head of Investor Relations Sumit Singh -- Chief Executive Officer Stacy Bowman -- Interim Chief Financial Officer Eric Sheridan -- Goldman Sachs -- Analyst Doug Anmuth -- JPMorgan Chase and Company -- Analyst Nathan Feather -- Morgan Stanley -- Analyst Anna Andreeva -- Needham and Company -- Analyst Rick Patel -- Raymond James -- Analyst Steve Zaccone -- Citi -- Analyst Brian Fitzgerald -- Wells Fargo Securities -- Analyst Steve Forbes -- Guggenheim Partners -- Analyst Lee Horowitz -- Deutsche Bank -- Analyst Rupesh Parikh -- Oppenheimer and Company -- Analyst More CHWY analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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As a result, Autoship customer sales continued to outpace overall top-line growth and were up nearly 13% in the quarter and represented over 76% of net sales. You know, the discretionary that actually drives a very healthy level of customer acquisition into the platform, of course, is muted, and the gaps that we're seeing primarily from a historical point of view are all deltas that are coming from those categories, primarily our premium businesses, you know, continue to outpace historical acquisition rates, which we're happy about because they build high-quality cohorts. Operator [Operator signoff] Duration: 0 minutes Call participants: Jen Hsu -- Vice President and Head of Investor Relations Sumit Singh -- Chief Executive Officer Stacy Bowman -- Interim Chief Financial Officer Eric Sheridan -- Goldman Sachs -- Analyst Doug Anmuth -- JPMorgan Chase and Company -- Analyst Nathan Feather -- Morgan Stanley -- Analyst Anna Andreeva -- Needham and Company -- Analyst Rick Patel -- Raymond James -- Analyst Steve Zaccone -- Citi -- Analyst Brian Fitzgerald -- Wells Fargo Securities -- Analyst Steve Forbes -- Guggenheim Partners -- Analyst Lee Horowitz -- Deutsche Bank -- Analyst Rupesh Parikh -- Oppenheimer and Company -- Analyst More CHWY analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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So, what we are essentially calling out is the way that we went to market, the specific offers that we took to market, the way customers engaged with the overall proposition. I'll give the surprise a little more thought and perhaps we can talk next week when we see each other great. Operator [Operator signoff] Duration: 0 minutes Call participants: Jen Hsu -- Vice President and Head of Investor Relations Sumit Singh -- Chief Executive Officer Stacy Bowman -- Interim Chief Financial Officer Eric Sheridan -- Goldman Sachs -- Analyst Doug Anmuth -- JPMorgan Chase and Company -- Analyst Nathan Feather -- Morgan Stanley -- Analyst Anna Andreeva -- Needham and Company -- Analyst Rick Patel -- Raymond James -- Analyst Steve Zaccone -- Citi -- Analyst Brian Fitzgerald -- Wells Fargo Securities -- Analyst Steve Forbes -- Guggenheim Partners -- Analyst Lee Horowitz -- Deutsche Bank -- Analyst Rupesh Parikh -- Oppenheimer and Company -- Analyst More CHWY analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
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c7e33f51-2aef-4250-bdd2-092cdf8efe07
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714343.0
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2023-12-06 00:00:00 UTC
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China's Nov iron ore imports stay at elevated level on improving margins
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DCOMP
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https://www.nasdaq.com/articles/chinas-nov-iron-ore-imports-stay-at-elevated-level-on-improving-margins
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Adds details and background
BEIJING, Dec 7 (Reuters) - China's iron ore imports in November climbed 3.4% from October, customs data showed on Thursday, as improved steel mill margins and an appreciating yuan underpinned buying of the key steelmaking ingredient.
The world's largest iron ore consumer brought in 102.74 million metric tons of the key steelmaking ingredient last month, up from 99.39 million tons in October, data from the country's General Administration of Customs showed.
The volume compared to 98.85 million tons imported in November 2022.
The November imports stayed at an elevated level for the fourth consecutive month, and came as more than a third of steel mills surveyed were operating at a profit by the end of the month, versus less than one-fifth in late October, data from consultancy Mysteel showed.
"While consumption exhibited monthly decline, inventories at mills increased thanks to restocking," said Chu Xinli, a Shanghai-based analyst at China Futures.
Iron ore inventories at mills surveyed jumped by 3.5% on the month to 93.02 million tons in late November, although the daily average hot metal output among mills surveyed declined by 3% on the month to 2.37 million tons last month, Mysteel data showed.
China's yuan CNY=CFXS appreciated 2.5% against the U.S. dollar in November.
China's iron ore imports in the first 11 months of 2023 jumped 6.2% to 1.08 billion tons, the customs data also showed.
China's exports of steel products in November rose 43.3% from the prior year to 8.01 million tons, and 0.88% higher from 7.94 million tons shipped abroad in October, customs data showed.
Total steel exports from the world's largest steel producer were 82.66 million tons from January to November, a rise of 35.6% year-on-year.
China imported 614,000 tons of steel products last month, down from 750,000 tons in November 2022, with the total over the January-November period at 6.98 million tons, down 29.2% from a year earlier, according to the customs data.
(Reporting by Amy Lv and Dominique Patton in Beijing; Editing by Jamie Freed)
((Amy.Lv@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details and background BEIJING, Dec 7 (Reuters) - China's iron ore imports in November climbed 3.4% from October, customs data showed on Thursday, as improved steel mill margins and an appreciating yuan underpinned buying of the key steelmaking ingredient. "While consumption exhibited monthly decline, inventories at mills increased thanks to restocking," said Chu Xinli, a Shanghai-based analyst at China Futures. China's iron ore imports in the first 11 months of 2023 jumped 6.2% to 1.08 billion tons, the customs data also showed.
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Adds details and background BEIJING, Dec 7 (Reuters) - China's iron ore imports in November climbed 3.4% from October, customs data showed on Thursday, as improved steel mill margins and an appreciating yuan underpinned buying of the key steelmaking ingredient. The world's largest iron ore consumer brought in 102.74 million metric tons of the key steelmaking ingredient last month, up from 99.39 million tons in October, data from the country's General Administration of Customs showed. Iron ore inventories at mills surveyed jumped by 3.5% on the month to 93.02 million tons in late November, although the daily average hot metal output among mills surveyed declined by 3% on the month to 2.37 million tons last month, Mysteel data showed.
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Iron ore inventories at mills surveyed jumped by 3.5% on the month to 93.02 million tons in late November, although the daily average hot metal output among mills surveyed declined by 3% on the month to 2.37 million tons last month, Mysteel data showed. China's exports of steel products in November rose 43.3% from the prior year to 8.01 million tons, and 0.88% higher from 7.94 million tons shipped abroad in October, customs data showed. China imported 614,000 tons of steel products last month, down from 750,000 tons in November 2022, with the total over the January-November period at 6.98 million tons, down 29.2% from a year earlier, according to the customs data.
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The world's largest iron ore consumer brought in 102.74 million metric tons of the key steelmaking ingredient last month, up from 99.39 million tons in October, data from the country's General Administration of Customs showed. Iron ore inventories at mills surveyed jumped by 3.5% on the month to 93.02 million tons in late November, although the daily average hot metal output among mills surveyed declined by 3% on the month to 2.37 million tons last month, Mysteel data showed. China imported 614,000 tons of steel products last month, down from 750,000 tons in November 2022, with the total over the January-November period at 6.98 million tons, down 29.2% from a year earlier, according to the customs data.
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d75aa2ac-071d-4d79-9908-bec075121e8c
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714344.0
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2023-12-06 00:00:00 UTC
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Sanofi Says Developing 12 Experimental Medicines
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DCOMP
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https://www.nasdaq.com/articles/sanofi-says-developing-12-experimental-medicines
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nan
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(RTTNews) - Sanofi (SNYNF, SNY) shared information about the development status and target indications of its pipeline, which consists of 12 potential blockbuster assets in immunology and vaccines.
It includes its three 'pipeline-in-a-product' assets, amlitelimab, frexalimab and SAR441566 (Oral TNFR1si), each with a peak sales potential of over 5 billion euros, as well as treatments for multiple sclerosis (tolebrutinib), asthma (lunsekimig, rilzabrutinib), inflamatory bowel disease (Anti-TL1A), atopic dermatitis (IRAK4 degrader), and COPD (itepekimab). Additional potential blockbusters include vaccines against acne, extraintestinal pathogenic E. coli, and RSV in older adults.
Sanofi expects that recently launched and future pharma assets will generate over 10 billion euros of annual sales by 2030, driven by late-stage pipeline assets such as amlitelimab, frexalimab, itepekimab, and tolebrutinib, as well as recently launched products including ALTUVIIIO, Sarclisa, and Tzield.
In Dupixent, the company anticipates maintaining strong performance and achieving a low double-digit net sales growth Compound Annual Growth Rate (CAGR) from 2023 to 2030. This growth is supported by expected new indications such as chronic obstructive pulmonary disease (COPD) as well as greater penetration in approved indications.
Sanofi reiterated its expectation to achieve over 10 billion euros in annual sales by 2030 for vaccines, including the recent launch of Beyfortus.
Sanofi said that its Research and Development will lead to a 50% increase in the number of Phase 3 studies between 2023 and 2025. The company's commitment to R&D will also support an expected 25 mid- to late-stage read-outs and up to 19 regulatory submissions for its pharma assets in the next two years.
For More Such Health News, visit rttnews.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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(RTTNews) - Sanofi (SNYNF, SNY) shared information about the development status and target indications of its pipeline, which consists of 12 potential blockbuster assets in immunology and vaccines. It includes its three 'pipeline-in-a-product' assets, amlitelimab, frexalimab and SAR441566 (Oral TNFR1si), each with a peak sales potential of over 5 billion euros, as well as treatments for multiple sclerosis (tolebrutinib), asthma (lunsekimig, rilzabrutinib), inflamatory bowel disease (Anti-TL1A), atopic dermatitis (IRAK4 degrader), and COPD (itepekimab). Sanofi reiterated its expectation to achieve over 10 billion euros in annual sales by 2030 for vaccines, including the recent launch of Beyfortus.
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Additional potential blockbusters include vaccines against acne, extraintestinal pathogenic E. coli, and RSV in older adults. Sanofi expects that recently launched and future pharma assets will generate over 10 billion euros of annual sales by 2030, driven by late-stage pipeline assets such as amlitelimab, frexalimab, itepekimab, and tolebrutinib, as well as recently launched products including ALTUVIIIO, Sarclisa, and Tzield. Sanofi reiterated its expectation to achieve over 10 billion euros in annual sales by 2030 for vaccines, including the recent launch of Beyfortus.
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It includes its three 'pipeline-in-a-product' assets, amlitelimab, frexalimab and SAR441566 (Oral TNFR1si), each with a peak sales potential of over 5 billion euros, as well as treatments for multiple sclerosis (tolebrutinib), asthma (lunsekimig, rilzabrutinib), inflamatory bowel disease (Anti-TL1A), atopic dermatitis (IRAK4 degrader), and COPD (itepekimab). Sanofi expects that recently launched and future pharma assets will generate over 10 billion euros of annual sales by 2030, driven by late-stage pipeline assets such as amlitelimab, frexalimab, itepekimab, and tolebrutinib, as well as recently launched products including ALTUVIIIO, Sarclisa, and Tzield. Sanofi reiterated its expectation to achieve over 10 billion euros in annual sales by 2030 for vaccines, including the recent launch of Beyfortus.
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(RTTNews) - Sanofi (SNYNF, SNY) shared information about the development status and target indications of its pipeline, which consists of 12 potential blockbuster assets in immunology and vaccines. Sanofi expects that recently launched and future pharma assets will generate over 10 billion euros of annual sales by 2030, driven by late-stage pipeline assets such as amlitelimab, frexalimab, itepekimab, and tolebrutinib, as well as recently launched products including ALTUVIIIO, Sarclisa, and Tzield. Sanofi reiterated its expectation to achieve over 10 billion euros in annual sales by 2030 for vaccines, including the recent launch of Beyfortus.
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9a7dc9d1-c3dd-4f66-96c7-89b9700e7f3c
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714345.0
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2023-12-06 00:00:00 UTC
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ServiceNow Inc Shares Approach 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/servicenow-inc-shares-approach-52-week-high-market-mover-2
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nan
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ServiceNow Inc (NOW) shares closed today at 1.1% below its 52 week high of $695.39, giving the company a market cap of $140B. The stock is currently up 76.7% year-to-date, up 76.3% over the past 12 months, and up 265.8% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 30.0% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.6.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Information Technology industry sector , beats it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by 98.4%
The company's stock price performance over the past 12 months beats the peer average by 129.2%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 190.2% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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ServiceNow Inc (NOW) shares closed today at 1.1% below its 52 week high of $695.39, giving the company a market cap of $140B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.6. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.
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ServiceNow Inc (NOW) shares closed today at 1.1% below its 52 week high of $695.39, giving the company a market cap of $140B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 98.4% The company's stock price performance over the past 12 months beats the peer average by 129.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 190.2% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 98.4% The company's stock price performance over the past 12 months beats the peer average by 129.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 190.2% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 98.4% The company's stock price performance over the past 12 months beats the peer average by 129.2% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 190.2% higher than the average peer.
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23f19aef-21bc-44ba-8e8e-35c863f2c170
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714346.0
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2023-12-06 00:00:00 UTC
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Gildan Activewear Inc Shares Close in on 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/gildan-activewear-inc-shares-close-in-on-52-week-high-market-mover-4
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nan
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nan
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Gildan Activewear Inc (GIL) shares closed today at 1.2% below its 52 week high of $37.65, giving the company a market cap of $6B. The stock is currently up 38.3% year-to-date, up 32.4% over the past 12 months, and up 20.1% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 43.3% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 1.1.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -326.7%
The company's stock price performance over the past 12 months beats the peer average by -258.9%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -355.4% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Gildan Activewear Inc (GIL) shares closed today at 1.2% below its 52 week high of $37.65, giving the company a market cap of $6B. Beta, a measure of the stock’s volatility relative to the overall market stands at 1.1. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -326.7% The company's stock price performance over the past 12 months beats the peer average by -258.9% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -355.4% higher than the average peer.
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This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -326.7% The company's stock price performance over the past 12 months beats the peer average by -258.9% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -355.4% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -326.7% The company's stock price performance over the past 12 months beats the peer average by -258.9% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -355.4% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Consumer Staples industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by -326.7% The company's stock price performance over the past 12 months beats the peer average by -258.9% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -355.4% higher than the average peer.
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f1b43e4e-dd3a-4284-bea4-b36d258de496
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714347.0
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2023-12-06 00:00:00 UTC
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Why Advanced Micro Devices (AMD) Dipped More Than Broader Market Today
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DCOMP
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https://www.nasdaq.com/articles/why-advanced-micro-devices-amd-dipped-more-than-broader-market-today
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nan
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nan
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Advanced Micro Devices (AMD) closed the latest trading day at $116.82, indicating a -1.32% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the chipmaker had gained 4.35% over the past month, lagging the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08% in that time.
Investors will be eagerly watching for the performance of Advanced Micro Devices in its upcoming earnings disclosure. The company is expected to report EPS of $0.77, up 11.59% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $6.11 billion, showing a 9.2% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.65 per share and a revenue of $22.63 billion, indicating changes of -24.29% and -4.13%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Advanced Micro Devices. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. As of now, Advanced Micro Devices holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Advanced Micro Devices has a Forward P/E ratio of 44.69 right now. This indicates a premium in contrast to its industry's Forward P/E of 26.57.
Meanwhile, AMD's PEG ratio is currently 4.56. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. AMD's industry had an average PEG ratio of 4.14 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Advanced Micro Devices, Inc. (AMD) : 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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Advanced Micro Devices (AMD) closed the latest trading day at $116.82, indicating a -1.32% change from the previous session's end. Simultaneously, our latest consensus estimate expects the revenue to be $6.11 billion, showing a 9.2% escalation compared to the year-ago quarter. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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Advanced Micro Devices (AMD) closed the latest trading day at $116.82, indicating a -1.32% change from the previous session's end. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.65 per share and a revenue of $22.63 billion, indicating changes of -24.29% and -4.13%, respectively, from the former year. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Advanced Micro Devices (AMD) closed the latest trading day at $116.82, indicating a -1.32% change from the previous session's end. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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d6a4ebed-76e2-4145-9c73-6c46db5a2c7f
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714348.0
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2023-12-06 00:00:00 UTC
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Assured Guaranty Ltd Shares Close in on 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/assured-guaranty-ltd-shares-close-in-on-52-week-high-market-mover-1
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nan
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nan
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Assured Guaranty Ltd (AGO) shares closed today at 1.4% below its 52 week high of $69.21, giving the company a market cap of $3B. The stock is currently up 10.7% year-to-date, up 4.8% over the past 12 months, and up 85.7% over the past five years. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%.
Trading Activity
Trading volume this week was 13.4% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date lags the peer average by -10.6%
The company's stock price performance over the past 12 months lags the peer average by -71.0%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 46.8% higher than the average peer.
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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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Assured Guaranty Ltd (AGO) shares closed today at 1.4% below its 52 week high of $69.21, giving the company a market cap of $3B. Beta, a measure of the stock’s volatility relative to the overall market stands at 0.8. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -10.6% The company's stock price performance over the past 12 months lags the peer average by -71.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 46.8% higher than the average peer.
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Assured Guaranty Ltd (AGO) shares closed today at 1.4% below its 52 week high of $69.21, giving the company a market cap of $3B. This week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -10.6% The company's stock price performance over the past 12 months lags the peer average by -71.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 46.8% higher than the average peer.
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Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -10.6% The company's stock price performance over the past 12 months lags the peer average by -71.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 46.8% higher than the average peer. This story was produced by the Kwhen Automated News Generator. 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 week, the Dow Jones Industrial Average rose 1.9%, and the S&P 500 rose 0.0%. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70. Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , lags it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -10.6% The company's stock price performance over the past 12 months lags the peer average by -71.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 46.8% higher than the average peer.
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4efa1f13-c365-4c48-a2fc-a9fb58f02c30
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714349.0
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2023-12-06 00:00:00 UTC
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Why the Market Dipped But Kimberly-Clark (KMB) Gained Today
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DCOMP
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https://www.nasdaq.com/articles/why-the-market-dipped-but-kimberly-clark-kmb-gained-today-0
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nan
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nan
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The most recent trading session ended with Kimberly-Clark (KMB) standing at $122.45, reflecting a +0.82% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the maker of consumer products such as Huggies diapers and Kleenex tissue had gained 0.86% over the past month. This has lagged the Consumer Staples sector's gain of 2.27% and the S&P 500's gain of 5.08% in that time.
Market participants will be closely following the financial results of Kimberly-Clark in its upcoming release. The company's upcoming EPS is projected at $1.53, signifying a 0.65% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.01 billion, indicating a 0.84% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.59 per share and a revenue of $20.47 billion, signifying shifts of +17.05% and +1.45%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Kimberly-Clark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Right now, Kimberly-Clark possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Kimberly-Clark is currently exchanging hands at a Forward P/E ratio of 18.43. This denotes a premium relative to the industry's average Forward P/E of 17.28.
Also, we should mention that KMB has a PEG ratio of 2.23. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Consumer Products - Staples industry had an average PEG ratio of 2.15 as trading concluded yesterday.
The Consumer Products - Staples industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kimberly-Clark Corporation (KMB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Prior to today's trading, shares of the maker of consumer products such as Huggies diapers and Kleenex tissue had gained 0.86% over the past month. For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.59 per share and a revenue of $20.47 billion, signifying shifts of +17.05% and +1.45%, respectively, from the last year. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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The most recent trading session ended with Kimberly-Clark (KMB) standing at $122.45, reflecting a +0.82% shift from the previouse trading day's closing. For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.59 per share and a revenue of $20.47 billion, signifying shifts of +17.05% and +1.45%, respectively, from the last year. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward.
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The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 29% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups.
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The most recent trading session ended with Kimberly-Clark (KMB) standing at $122.45, reflecting a +0.82% shift from the previouse trading day's closing. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 29% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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819b0907-9ad4-4d45-b424-e570621406ab
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714350.0
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2023-12-06 00:00:00 UTC
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Greif (GEF) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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DCOMP
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https://www.nasdaq.com/articles/greif-gef-q4-earnings%3A-taking-a-look-at-key-metrics-versus-estimates
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nan
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nan
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For the quarter ended October 2023, Greif (GEF) reported revenue of $1.31 billion, down 12.5% over the same period last year. EPS came in at $1.56, compared to $1.83 in the year-ago quarter.
The reported revenue represents a surprise of -0.23% over the Zacks Consensus Estimate of $1.31 billion. With the consensus EPS estimate being $1.30, the EPS surprise was +20.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Greif performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Global Industrial Packaging: $721 million versus $750.52 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -12.6% change.
Net Sales- Land Management: $5.80 million compared to the $5.26 million average estimate based on two analysts. The reported number represents a change of +9.4% year over year.
Net Sales- Paper Packaging & Services: $581.60 million versus the two-analyst average estimate of $555.68 million. The reported number represents a year-over-year change of -12.6%.
Adjusted EBITDA- Global Industrial Packaging: $104.20 million versus the two-analyst average estimate of $103.74 million.
Adjusted EBITDA- Land Management: $2.50 million versus $2.03 million estimated by two analysts on average.
Adjusted EBITDA- Paper Packaging & Services: $92.50 million versus the two-analyst average estimate of $84.15 million.
View all Key Company Metrics for Greif here>>>
Shares of Greif have returned +8.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Greif, Inc. (GEF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Here is how Greif performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Global Industrial Packaging: $721 million versus $750.52 million estimated by two analysts on average. Net Sales- Paper Packaging & Services: $581.60 million versus the two-analyst average estimate of $555.68 million. Adjusted EBITDA- Global Industrial Packaging: $104.20 million versus the two-analyst average estimate of $103.74 million.
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Here is how Greif performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Global Industrial Packaging: $721 million versus $750.52 million estimated by two analysts on average. Adjusted EBITDA- Global Industrial Packaging: $104.20 million versus the two-analyst average estimate of $103.74 million. Adjusted EBITDA- Paper Packaging & Services: $92.50 million versus the two-analyst average estimate of $84.15 million.
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Here is how Greif performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Global Industrial Packaging: $721 million versus $750.52 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -12.6% change. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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379d90bb-4979-4601-9fa8-be6fa040440c
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714351.0
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2023-12-06 00:00:00 UTC
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Abbott (ABT) Advances While Market Declines: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/abbott-abt-advances-while-market-declines%3A-some-information-for-investors
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nan
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nan
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Abbott (ABT) closed the latest trading day at $104.94, indicating a +0.57% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 10.07% in the past month. In that same time, the Medical sector gained 3.38%, while the S&P 500 gained 5.08%.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company's upcoming EPS is projected at $1.19, signifying a 15.53% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.14 billion, up 0.49% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.44 per share and revenue of $40.01 billion, indicating changes of -16.85% and -8.35%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Abbott is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 23.5. This represents a premium compared to its industry's average Forward P/E of 19.55.
Also, we should mention that ABT has a PEG ratio of 2.61. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Medical - Products industry stood at 2.59 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 143, placing it within the bottom 44% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Abbott Laboratories (ABT) : 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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Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 10.07% in the past month. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Abbott (ABT) closed the latest trading day at $104.94, indicating a +0.57% change from the previous session's end. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.44 per share and revenue of $40.01 billion, indicating changes of -16.85% and -8.35%, respectively, compared to the previous year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. At present, this industry carries a Zacks Industry Rank of 143, placing it within the bottom 44% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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At present, this industry carries a Zacks Industry Rank of 143, placing it within the bottom 44% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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fcf2208e-d68a-430f-ae7a-ced82f8464b2
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714352.0
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2023-12-06 00:00:00 UTC
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Wealth Builders: 3 Stocks with Potential to Get Rich
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DCOMP
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https://www.nasdaq.com/articles/wealth-builders%3A-3-stocks-with-potential-to-get-rich
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s the ultimate dream of an investor to hold stocks with millionaire-maker potential. In general, the stocks to get rich can be found among growth stocks. But for those investors on the hunt, there are two secrets to building massive wealth you should know.
First, you’re tasked with identifying the right opportunity before the market does and buying the stock at a potential valuation gap. Second, you’ll reap higher rewards if you have the patience to hold for the long term. Over the past year, the investment horizon has declined for investors, one significant reason why big wealth creation is not seen often.
The focus of this column is therefore on three growth stocks that have good fundamentals. Additionally, the picks are positioned to benefit from positive industry tailwinds that may hold momentum until 2030. In my view, these stocks are likely to deliver 10-bagger returns by the end of the decade.
Let’s discuss the factors that make these names worth considering for the long-term portfolio as your picks for stocks to get rich.
Leonardo DRS (DRS)
Source: Nesterenko Maxym / Shutterstock.com
Global defense spending touched new highs of $2.24 trillion last year, and Leonardo DRS (NASDAQ:DRS) is possibly the best-emerging name among defense stocks. Encouragingly, given the multiple points of global friction, it’s likely that defense spending will continue to increase. This sets Leonardo ahead as a defense stock with potential multibagger returns.
As an overview, Leonardo is a provider of defense electronic products and systems. The Company was formed after the merger of Leonardo with Rada Electronic. As of Q3 2023, Leonardo reported an order backlog of $4.7 billion. The order intake has been robust with a year-on-year (YoY) growth in backlog of 50%. After Q3, the Company was awarded an order of $3 billion for electric power and propulsion system. A swelling backlog provides visibility for potential revenue acceleration and EBITDA upside.
I like the fact that Leonardo has been working on pursuing a technological edge. Recently, the company received an order worth $134 million from the U.S. Army for next-generation thermal weapon sights. The uncooled thermal imaging technology claims to have the most advanced weapon sight system on the battlefield.
All factors considered, Leonardo makes my list of stocks to get rich by.
Eve Holding (EVEX)
Source: Chesky / Shutterstock
It’s been a good year for flying car stocks, and Eve Holdings (NYSE:EVEX) is positioned to reap the benefits. As several companies near commercialization, the eVTOL market is expected to get bigger in the coming decades. By 2050, the market size is expected at $9 trillion. Therefore, the sector is likely to be a massive wealth creator. After being the company has been sideways for year-to-date, a big breakout rally seems likely.
The current year has been characterized by order book building. In June, Voar Aviation signed an agreement with the Company for the purchase of 70 eVTOL aircraft. Further, Eve has signed agreements for the sale and operation of eVTOL in the Scandinavian region and Europe. Over the next 24 to 36 months, these agreements will translate into revenue growth.
In 2022, United Airlines (NASDAQ:UAL) announced an agreement to purchase 200 eVTOLs, with an option to purchase another 200. It’s worth noting that United Airlines has also invested $15 million in Eve Holdings. The agreement with an airline major underscores the company’s credibility. With a potential rally on the horizon, Eve joins my list of stocks to get rich by.
Lithium Americas (LAC)
Source: Wirestock Creators / Shutterstock.com
While recent reports indicate that lithium shortage can come as early as 2025, lithium prices have plunged in the current year and lithium stocks have not been spared. However, considering the long-term outlook, I believe that this correction is a golden opportunity to accumulate quality lithium miners. Undoubtedly, Lithium Americas (NYSE:LAC) is one stock that deserves a place in the portfolio.
For Lithium Americas, the Thacker Pass project is a likely game changer. With a mine life of 40 years and an after-tax net present value of $5.7 billion, the asset is a cash flow machine. Over the life of the asset, Lithium Americas estimates an average annual EBITDA of $1.1 billion. And certainly, if lithium prices surge higher, free cash flow estimates will be robust.
Further, General Motors (NYSE:GM) has backed financing the project, and the offtake agreement is a bonus. With these positives, I am surprised that the company trades at a valuation of $1 billion. A breakout on the upside is likely relatively soon, making LAC the final addition to my list of stocks to get rich by.
On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.
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The post Wealth Builders: 3 Stocks with Potential to Get Rich 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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Over the past year, the investment horizon has declined for investors, one significant reason why big wealth creation is not seen often. Let’s discuss the factors that make these names worth considering for the long-term portfolio as your picks for stocks to get rich. On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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Leonardo DRS (DRS) Source: Nesterenko Maxym / Shutterstock.com Global defense spending touched new highs of $2.24 trillion last year, and Leonardo DRS (NASDAQ:DRS) is possibly the best-emerging name among defense stocks. Eve Holding (EVEX) Source: Chesky / Shutterstock It’s been a good year for flying car stocks, and Eve Holdings (NYSE:EVEX) is positioned to reap the benefits. Lithium Americas (LAC) Source: Wirestock Creators / Shutterstock.com While recent reports indicate that lithium shortage can come as early as 2025, lithium prices have plunged in the current year and lithium stocks have not been spared.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s the ultimate dream of an investor to hold stocks with millionaire-maker potential. Leonardo DRS (DRS) Source: Nesterenko Maxym / Shutterstock.com Global defense spending touched new highs of $2.24 trillion last year, and Leonardo DRS (NASDAQ:DRS) is possibly the best-emerging name among defense stocks. Lithium Americas (LAC) Source: Wirestock Creators / Shutterstock.com While recent reports indicate that lithium shortage can come as early as 2025, lithium prices have plunged in the current year and lithium stocks have not been spared.
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In general, the stocks to get rich can be found among growth stocks. With a potential rally on the horizon, Eve joins my list of stocks to get rich by. Lithium Americas (LAC) Source: Wirestock Creators / Shutterstock.com While recent reports indicate that lithium shortage can come as early as 2025, lithium prices have plunged in the current year and lithium stocks have not been spared.
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714353.0
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2023-12-06 00:00:00 UTC
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Chinese e-commerce platform Temu drawing shoppers from US dollar stores -data
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https://www.nasdaq.com/articles/chinese-e-commerce-platform-temu-drawing-shoppers-from-us-dollar-stores-data
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By Arriana McLymore and Granth Vanaik
NEW YORK, Dec 6 (Reuters) - Temu, the fast-growing Chinese e-commerce platform selling $4 home decor and $10 shirts, is successfully taking on U.S. dollar stores including industry leader Dollar General DG.N, according to the latest market share data.
As of last month, Temu accounted for nearly 17% of market share in the United States within the discount stores categories, according to data analytics firm Earnest Analytics. That compares to 8% for the dollar chain Five Below FIVE.O, 43% for Dollar General DG.N and 28% for Dollar Tree.
Temu launched in the United States in September 2022 and quickly became popular through its use of social-media influencers to tout its merchandise as better and more affordable than traditional stores.
"Its (Temu) low prices on household goods and consumer staples makes it more of a threat to brick-and-mortar discounters like the dollar stores than other online marketplaces," said Michael Maloof, head of marketing at Earnest Analytics.
Temu sells apparel including $12 dresses and $20 sneakers, while also offering similar holiday decor, storage containers and toys as dollar stores. Analysts expect it to generate more than $16 billion in revenue this year as it expands internationally.
"Temu has the advantage of novelty and excitement that is hard to re-create for staid low-end discount retail brands," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors.
Temu, Dollar General, Dollar Tree and Five Below did not respond to requests for comments on the research. The U.S. dollar stores have said previously they do not see an effect from Temu on their sales because of relatively smaller online presences and differing customers.
While dollar stores have maintained strength among customers buying necessities like food, beverages and items like detergent, they are dealing with a shift in consumer demand and also struggling with operational missteps.
Dollar General has cut its annual profit forecast three times this year as budget-conscious shoppers have cut spending on higher-margin discretionary goods and shifted to buying more lower-margin consumable goods.
Margins have also fallen at dollar stores because they are marking down merchandise to clear excess inventory and like many retailers are also being hurt by retail theft.
Tennessee-based Dollar General has seen the steepest decline in market share compared to competitors, according to Earnest Analytics. It held a 43% market share in November, down from about 57% in January. Dollar Tree's share slid nearly four percentage points from 32% in January to 28% in November.
Temu is benefiting from shopper fatigue with high prices and inflation, said Peter Earle, an economist at the American Institute for Economic Research, a libertarian, free-market think tank. Temu's parent company PDD Group PDD.O said revenue rose by 94% to 68.84 billion yuan ($9.62 billion) in the quarter ended Sept. 30 from a year ago.
Temu uses a network of China-based manufacturers of cheap personal electronics, clothes and home goods. Factories and merchants on Temu send merchandise directly to Temu shoppers, using a trade exemption that allows shipments under $800 to enter the U.S. duty-free.
"Temu with their 'shop like a billionaire' slogan has mastered gamification and rewards to make online shopping fun, easy, and cheaper than the dollar stores," Running Point's Schulman said.
(Reporting by Arriana McLymore in New York City and Granth Vanaik in Bengaluru; Editing by Jamie Freed)
((arriana.mclymore@thomsonreuters.com; 917-667-8733; Reuters Messaging: Twitter: @Arriana))
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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"Its (Temu) low prices on household goods and consumer staples makes it more of a threat to brick-and-mortar discounters like the dollar stores than other online marketplaces," said Michael Maloof, head of marketing at Earnest Analytics. "Temu has the advantage of novelty and excitement that is hard to re-create for staid low-end discount retail brands," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors. While dollar stores have maintained strength among customers buying necessities like food, beverages and items like detergent, they are dealing with a shift in consumer demand and also struggling with operational missteps.
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As of last month, Temu accounted for nearly 17% of market share in the United States within the discount stores categories, according to data analytics firm Earnest Analytics. Temu, Dollar General, Dollar Tree and Five Below did not respond to requests for comments on the research. "Temu with their 'shop like a billionaire' slogan has mastered gamification and rewards to make online shopping fun, easy, and cheaper than the dollar stores," Running Point's Schulman said.
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By Arriana McLymore and Granth Vanaik NEW YORK, Dec 6 (Reuters) - Temu, the fast-growing Chinese e-commerce platform selling $4 home decor and $10 shirts, is successfully taking on U.S. dollar stores including industry leader Dollar General DG.N, according to the latest market share data. That compares to 8% for the dollar chain Five Below FIVE.O, 43% for Dollar General DG.N and 28% for Dollar Tree. "Its (Temu) low prices on household goods and consumer staples makes it more of a threat to brick-and-mortar discounters like the dollar stores than other online marketplaces," said Michael Maloof, head of marketing at Earnest Analytics.
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By Arriana McLymore and Granth Vanaik NEW YORK, Dec 6 (Reuters) - Temu, the fast-growing Chinese e-commerce platform selling $4 home decor and $10 shirts, is successfully taking on U.S. dollar stores including industry leader Dollar General DG.N, according to the latest market share data. As of last month, Temu accounted for nearly 17% of market share in the United States within the discount stores categories, according to data analytics firm Earnest Analytics. Tennessee-based Dollar General has seen the steepest decline in market share compared to competitors, according to Earnest Analytics.
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cdd36d1a-897c-4d7d-9e57-257f1d1e2ef5
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714354.0
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2023-12-06 00:00:00 UTC
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Here's Why Alcoa (AA) Fell More Than Broader Market
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https://www.nasdaq.com/articles/heres-why-alcoa-aa-fell-more-than-broader-market
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The most recent trading session ended with Alcoa (AA) standing at $25.12, reflecting a -0.48% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
The bauxite, alumina and aluminum products company's stock has dropped by 1.17% in the past month, falling short of the Industrial Products sector's gain of 4.21% and the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Alcoa in its upcoming earnings disclosure. In that report, analysts expect Alcoa to post earnings of -$0.82 per share. This would mark a year-over-year decline of 17.14%. Alongside, our most recent consensus estimate is anticipating revenue of $2.62 billion, indicating a 1.66% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.39 per share and a revenue of $10.67 billion, signifying shifts of -149.48% and -14.3%, respectively, from the last year.
Any recent changes to analyst estimates for Alcoa should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.42% upward. Currently, Alcoa is carrying a Zacks Rank of #4 (Sell).
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AA in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alcoa (AA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alongside, our most recent consensus estimate is anticipating revenue of $2.62 billion, indicating a 1.66% downward movement from the same quarter last year. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.39 per share and a revenue of $10.67 billion, signifying shifts of -149.48% and -14.3%, respectively, from the last year. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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The most recent trading session ended with Alcoa (AA) standing at $25.12, reflecting a -0.48% shift from the previouse trading day's closing. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.39 per share and a revenue of $10.67 billion, signifying shifts of -149.48% and -14.3%, respectively, from the last year. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% echelons of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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The most recent trading session ended with Alcoa (AA) standing at $25.12, reflecting a -0.48% shift from the previouse trading day's closing. This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% echelons of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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5981a77e-7de7-4ff3-b031-65c1943e2802
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714355.0
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2023-12-06 00:00:00 UTC
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AMD forecasts $45 billion AI chip market this year, $2 billion in sales in 2024
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https://www.nasdaq.com/articles/amd-forecasts-%2445-billion-ai-chip-market-this-year-%242-billion-in-sales-in-2024
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By Max A. Cherney
Dec 6 (Reuters) - AMD AMD.O estimated there was a $45 billion market for its data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday.
The total addressable market forecast is up from AMD's $30 billion estimate in June.
Advanced Micro Devices announced two new AI data center chips from its MI300 lineup: one focused on generative AI applications, and a second chip geared toward supercomputers. The version of the processor for generative AI, the MI300X, includes advanced high-bandwidth memory that improves performance.
For next year, AMD has a "significant" supply of AI chips that is "well above" $2 billion worth, CEO Lisa Su said at a press briefing. "So there's a lot of supply that we have - let's call it reserved - and we have a lot of customers, well above the $2 billion as well," Su said.
As AMD launched the new processors, company executives outlined how rapidly demand for AI chips has increased. The company said it now expects the market for data center AI chips to grow to roughly $400 billion by 2027.
Analysts estimate that Nvidia NVDA.O has captured roughly 80% of the AI chip market, when including the custom processors built by companies such as Alphabet's Google GOOGL.O and Microsoft MSFT.O. Nvidia does not break out its AI revenue, but a significant portion is captured in the company's data center segment. So far this year, Nvidia has reported data center revenue of $29.12 billion.
AMD's MI300 series launched on Wednesday is positioned to compete with Nvidia's flagship AI processors.
AMD also unveiled a new version of the software necessary to deploy the chips for AI.
(Reporting by Max A. Cherney in San Francisco; Editing by Leslie Adler and Lisa Shumaker)
((Max.Cherney@thomsonreuters.com; 415-404-2697;))
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 Max A. Cherney Dec 6 (Reuters) - AMD AMD.O estimated there was a $45 billion market for its data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday. For next year, AMD has a "significant" supply of AI chips that is "well above" $2 billion worth, CEO Lisa Su said at a press briefing. Analysts estimate that Nvidia NVDA.O has captured roughly 80% of the AI chip market, when including the custom processors built by companies such as Alphabet's Google GOOGL.O and Microsoft MSFT.O.
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By Max A. Cherney Dec 6 (Reuters) - AMD AMD.O estimated there was a $45 billion market for its data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday. Analysts estimate that Nvidia NVDA.O has captured roughly 80% of the AI chip market, when including the custom processors built by companies such as Alphabet's Google GOOGL.O and Microsoft MSFT.O. So far this year, Nvidia has reported data center revenue of $29.12 billion.
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By Max A. Cherney Dec 6 (Reuters) - AMD AMD.O estimated there was a $45 billion market for its data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday. Advanced Micro Devices announced two new AI data center chips from its MI300 lineup: one focused on generative AI applications, and a second chip geared toward supercomputers. The company said it now expects the market for data center AI chips to grow to roughly $400 billion by 2027.
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By Max A. Cherney Dec 6 (Reuters) - AMD AMD.O estimated there was a $45 billion market for its data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday. The version of the processor for generative AI, the MI300X, includes advanced high-bandwidth memory that improves performance. Analysts estimate that Nvidia NVDA.O has captured roughly 80% of the AI chip market, when including the custom processors built by companies such as Alphabet's Google GOOGL.O and Microsoft MSFT.O.
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ae800c60-f95f-47c5-9e03-ebca08546b2d
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714356.0
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2023-12-06 00:00:00 UTC
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C3.ai, Inc. (AI) Reports Q2 Loss, Lags Revenue Estimates
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https://www.nasdaq.com/articles/c3.ai-inc.-ai-reports-q2-loss-lags-revenue-estimates
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C3.ai, Inc. (AI) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 31.58%. A quarter ago, it was expected that this company would post a loss of $0.17 per share when it actually produced a loss of $0.09, delivering a surprise of 47.06%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
C3.ai, Inc., which belongs to the Zacks Computers - IT Services industry, posted revenues of $73.23 million for the quarter ended October 2023, missing the Zacks Consensus Estimate by 1.70%. This compares to year-ago revenues of $62.41 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
C3.ai, Inc. Shares have added about 168.5% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for C3.ai, Inc.
While C3.ai, Inc. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for C3.ai, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.09 on $77.85 million in revenues for the coming quarter and -$0.42 on $307.65 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the top 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, SecureWorks (SCWX), has yet to report results for the quarter ended October 2023. The results are expected to be released on December 7.
This information security services provider is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +56.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
SecureWorks' revenues are expected to be $87.98 million, down 20.7% from the year-ago quarter.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
C3.ai, Inc. (AI) : Free Stock Analysis Report
SecureWorks Corp. (SCWX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. This information security services provider is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +56.3%. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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C3.ai, Inc., which belongs to the Zacks Computers - IT Services industry, posted revenues of $73.23 million for the quarter ended October 2023, missing the Zacks Consensus Estimate by 1.70%. The current consensus EPS estimate is -$0.09 on $77.85 million in revenues for the coming quarter and -$0.42 on $307.65 million in revenues for the current fiscal year. Click to get this free report C3.ai, Inc. (AI) : Free Stock Analysis Report SecureWorks Corp. (SCWX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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C3.ai, Inc., which belongs to the Zacks Computers - IT Services industry, posted revenues of $73.23 million for the quarter ended October 2023, missing the Zacks Consensus Estimate by 1.70%. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. The current consensus EPS estimate is -$0.09 on $77.85 million in revenues for the coming quarter and -$0.42 on $307.65 million in revenues for the current fiscal year.
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Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the top 22% of the 250 plus Zacks industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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14c80129-3bbc-448c-a869-594ce5eca2c2
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714357.0
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2023-12-06 00:00:00 UTC
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Wolfspeed (WOLF) Dips More Than Broader Market: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/wolfspeed-wolf-dips-more-than-broader-market%3A-what-you-should-know
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Wolfspeed (WOLF) closed at $38.25 in the latest trading session, marking a -0.68% move from the prior day. This move lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the maker of energy-efficient lighting have appreciated by 14.41% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of Wolfspeed in its upcoming release. In that report, analysts expect Wolfspeed to post earnings of -$0.64 per share. This would mark a year-over-year decline of 481.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $205.94 million, down 4.7% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.40 per share and a revenue of $884.69 million, indicating changes of -65.52% and -4.04%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wolfspeed (WOLF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Shares of the maker of energy-efficient lighting have appreciated by 14.41% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08%. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.40 per share and a revenue of $884.69 million, indicating changes of -65.52% and -4.04%, respectively, from the former year. Click to get this free report Wolfspeed (WOLF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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Wolfspeed (WOLF) closed at $38.25 in the latest trading session, marking a -0.68% move from the prior day. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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514ea186-93a0-4d38-8d24-1d917fb639bc
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714358.0
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2023-12-06 00:00:00 UTC
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United Rentals (URI) Advances While Market Declines: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/united-rentals-uri-advances-while-market-declines%3A-some-information-for-investors
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nan
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nan
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United Rentals (URI) ended the recent trading session at $476.44, demonstrating a +0.2% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.39%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.59%.
The equipment rental company's stock has climbed by 7.98% in the past month, falling short of the Construction sector's gain of 8.8% and outpacing the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of United Rentals in its upcoming earnings disclosure. The company is expected to report EPS of $11.42, up 17.25% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $3.64 billion, showing a 10.3% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $40.90 per share and a revenue of $14.22 billion, indicating changes of +25.85% and +22.18%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for United Rentals. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% increase. Right now, United Rentals possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United Rentals has a Forward P/E ratio of 11.63 right now. This represents a discount compared to its industry's average Forward P/E of 17.15.
We can additionally observe that URI currently boasts a PEG ratio of 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.78.
The Building Products - Miscellaneous industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United 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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United Rentals (URI) ended the recent trading session at $476.44, demonstrating a +0.2% swing from the preceding day's closing price. Analysts and investors alike will be keeping a close eye on the performance of United Rentals in its upcoming earnings disclosure. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $40.90 per share and a revenue of $14.22 billion, indicating changes of +25.85% and +22.18%, respectively, from the former year. As of the close of trade yesterday, the Building Products - Miscellaneous industry held an average PEG ratio of 1.78. Click to get this free report United Rentals, Inc. (URI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Click to get this free report United Rentals, Inc. (URI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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United Rentals (URI) ended the recent trading session at $476.44, demonstrating a +0.2% swing from the preceding day's closing price. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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2f3d0c5c-ea2e-4c96-8fb0-9341b39d25ea
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714359.0
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2023-12-06 00:00:00 UTC
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Sprinkler (CXM) Reports Q3 Earnings: What Key Metrics Have to Say
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DCOMP
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https://www.nasdaq.com/articles/sprinkler-cxm-reports-q3-earnings%3A-what-key-metrics-have-to-say
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nan
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nan
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For the quarter ended October 2023, Sprinkler (CXM) reported revenue of $186.33 million, up 18.5% over the same period last year. EPS came in at $0.11, compared to $0.02 in the year-ago quarter.
The reported revenue represents a surprise of +3.46% over the Zacks Consensus Estimate of $180.09 million. With the consensus EPS estimate being $0.07, the EPS surprise was +57.14%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Sprinkler performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gross Margin - Professional Services: -4% versus the five-analyst average estimate of -16.4%.
Gross Margin - Subscription: 82% compared to the 82.7% average estimate based on five analysts.
Revenue- Subscription: $170.46 million versus the six-analyst average estimate of $165.07 million. The reported number represents a year-over-year change of +21.8%.
Revenue- Professional Services: $15.86 million versus the six-analyst average estimate of $15.02 million. The reported number represents a year-over-year change of -8.6%.
View all Key Company Metrics for Sprinkler here>>>
Shares of Sprinkler have returned +14.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sprinklr, Inc. (CXM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Here is how Sprinkler performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross Margin - Professional Services: -4% versus the five-analyst average estimate of -16.4%. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Here is how Sprinkler performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross Margin - Professional Services: -4% versus the five-analyst average estimate of -16.4%. Revenue- Subscription: $170.46 million versus the six-analyst average estimate of $165.07 million. Revenue- Professional Services: $15.86 million versus the six-analyst average estimate of $15.02 million.
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The reported revenue represents a surprise of +3.46% over the Zacks Consensus Estimate of $180.09 million. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Sprinkler performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross Margin - Professional Services: -4% versus the five-analyst average estimate of -16.4%.
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The reported revenue represents a surprise of +3.46% over the Zacks Consensus Estimate of $180.09 million. Here is how Sprinkler performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross Margin - Professional Services: -4% versus the five-analyst average estimate of -16.4%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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5b9481a5-0b89-4f8d-8fe2-544ce48561b8
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714360.0
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2023-12-06 00:00:00 UTC
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Prologis (PLD) Increases Despite Market Slip: Here's What You Need to Know
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DCOMP
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https://www.nasdaq.com/articles/prologis-pld-increases-despite-market-slip%3A-heres-what-you-need-to-know
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nan
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nan
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Prologis (PLD) closed the most recent trading day at $119.05, moving +0.34% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the industrial real estate developer witnessed a gain of 13.84% over the previous month, beating the performance of the Finance sector with its gain of 5.92% and the S&P 500's gain of 5.08%.
Investors will be eagerly watching for the performance of Prologis in its upcoming earnings disclosure. On that day, Prologis is projected to report earnings of $1.26 per share, which would represent year-over-year growth of 1.61%. Simultaneously, our latest consensus estimate expects the revenue to be $1.78 billion, showing a 12.15% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.60 per share and revenue of $6.85 billion, indicating changes of +8.53% and +39.36%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Prologis should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Prologis holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Prologis is holding a Forward P/E ratio of 21.19. This expresses a premium compared to the average Forward P/E of 10.91 of its industry.
Also, we should mention that PLD has a PEG ratio of 2.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other industry had an average PEG ratio of 2.24 as trading concluded yesterday.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 41% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Prologis, Inc. (PLD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Simultaneously, our latest consensus estimate expects the revenue to be $1.78 billion, showing a 12.15% escalation compared to the year-ago quarter. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Prologis, Inc. (PLD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 41% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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On that day, Prologis is projected to report earnings of $1.26 per share, which would represent year-over-year growth of 1.61%. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 41% echelons of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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a1c33b40-3561-4208-ad73-79a220e721a6
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714361.0
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2023-12-06 00:00:00 UTC
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General Dynamics (GD) Gains As Market Dips: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/general-dynamics-gd-gains-as-market-dips%3A-what-you-should-know-11
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nan
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nan
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In the latest trading session, General Dynamics (GD) closed at $251.95, marking a +0.42% move from the previous day. This move outpaced the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the defense contractor have appreciated by 3.36% over the course of the past month, underperforming the Aerospace sector's gain of 6.06% and the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of General Dynamics in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.21, showcasing a 17.6% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $12.48 billion, up 15.02% from the prior-year quarter.
GD's full-year Zacks Consensus Estimates are calling for earnings of $12.58 per share and revenue of $42.99 billion. These results would represent year-over-year changes of +3.2% and +9.1%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for General Dynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. General Dynamics currently has a Zacks Rank of #3 (Hold).
With respect to valuation, General Dynamics is currently being traded at a Forward P/E ratio of 19.94. Its industry sports an average Forward P/E of 17.25, so one might conclude that General Dynamics is trading at a premium comparatively.
One should further note that GD currently holds a PEG ratio of 2.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.93 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
General Dynamics Corporation (GD) : 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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Analysts and investors alike will be keeping a close eye on the performance of General Dynamics in its upcoming earnings disclosure. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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In the latest trading session, General Dynamics (GD) closed at $251.95, marking a +0.42% move from the previous day. GD's full-year Zacks Consensus Estimates are calling for earnings of $12.58 per share and revenue of $42.99 billion. Click to get this free report General Dynamics Corporation (GD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Click to get this free report General Dynamics Corporation (GD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the latest trading session, General Dynamics (GD) closed at $251.95, marking a +0.42% move from the previous day. General Dynamics currently has a Zacks Rank of #3 (Hold). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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93cbf2fb-0efe-416b-a215-7ede614cc107
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714362.0
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2023-12-06 00:00:00 UTC
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KeyCorp (KEY) Ascends While Market Falls: Some Facts to Note
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DCOMP
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https://www.nasdaq.com/articles/keycorp-key-ascends-while-market-falls%3A-some-facts-to-note
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nan
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nan
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KeyCorp (KEY) closed the latest trading day at $12.96, indicating a +0.15% change from the previous session's end. This change outpaced the S&P 500's 0.39% loss on the day. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
The company's stock has climbed by 14.51% in the past month, exceeding the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of KeyCorp in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company's upcoming EPS is projected at $0.25, signifying a 34.21% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.56 billion, showing a 17.36% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.11 per share and a revenue of $6.41 billion, indicating changes of -42.19% and -11.46%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KeyCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.62% decrease. KeyCorp is currently a Zacks Rank #3 (Hold).
Digging into valuation, KeyCorp currently has a Forward P/E ratio of 11.62. This expresses a premium compared to the average Forward P/E of 9.13 of its industry.
We can additionally observe that KEY currently boasts a PEG ratio of 2.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
KeyCorp (KEY) : Free Stock Analysis Report
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.
|
Simultaneously, our latest consensus estimate expects the revenue to be $1.56 billion, showing a 17.36% drop compared to the year-ago quarter. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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KeyCorp (KEY) closed the latest trading day at $12.96, indicating a +0.15% change from the previous session's end. Simultaneously, our latest consensus estimate expects the revenue to be $1.56 billion, showing a 17.36% drop compared to the year-ago quarter. Click to get this free report KeyCorp (KEY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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KeyCorp (KEY) closed the latest trading day at $12.96, indicating a +0.15% change from the previous session's end. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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0d1c9921-579d-4dd8-a6ff-9eba7763504d
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714363.0
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2023-12-06 00:00:00 UTC
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The PNC Financial Services Group, Inc (PNC) Ascends While Market Falls: Some Facts to Note
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DCOMP
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https://www.nasdaq.com/articles/the-pnc-financial-services-group-inc-pnc-ascends-while-market-falls%3A-some-facts-to-note
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nan
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nan
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The PNC Financial Services Group, Inc (PNC) closed at $139.36 in the latest trading session, marking a +0.5% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 14.8% over the past month, outpacing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08% in that time.
The upcoming earnings release of The PNC Financial Services Group, Inc will be of great interest to investors. The company's earnings report is expected on January 16, 2024. The company is expected to report EPS of $3.01, down 13.75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $5.27 billion, indicating an 8.59% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.88 per share and a revenue of $21.42 billion, signifying shifts of -0.57% and +1.44%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for The PNC Financial Services Group, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.09% upward. The PNC Financial Services Group, Inc is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that The PNC Financial Services Group, Inc has a Forward P/E ratio of 9.99 right now. This indicates a premium in contrast to its industry's Forward P/E of 9.13.
It is also worth noting that PNC currently has a PEG ratio of 1.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the meantime, our current consensus estimate forecasts the revenue to be $5.27 billion, indicating an 8.59% decline compared to the corresponding quarter of the prior year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.88 per share and a revenue of $21.42 billion, signifying shifts of -0.57% and +1.44%, respectively, from the last year. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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The PNC Financial Services Group, Inc (PNC) closed at $139.36 in the latest trading session, marking a +0.5% move from the prior day. Heading into today, shares of the company had gained 14.8% over the past month, outpacing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08% in that time. Click to get this free report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The PNC Financial Services Group, Inc is currently a Zacks Rank #3 (Hold). The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Click to get this free report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The PNC Financial Services Group, Inc is currently a Zacks Rank #3 (Hold). This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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e9b52319-155d-4f2b-b8b8-b61caa2c62fc
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714364.0
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2023-12-06 00:00:00 UTC
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Wednesday Sector Leaders: Services, Materials
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https://www.nasdaq.com/articles/wednesday-sector-leaders%3A-services-materials-0
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The best performing sector as of midday Wednesday is the Services sector, higher by 0.9%. Within that group, Carnival Corp (Symbol: CCL) and Walgreens Boots Alliance Inc (Symbol: WBA) are two large stocks leading the way, showing a gain of 5.7% and 5.0%, respectively. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is up 0.7% on the day, and up 28.31% year-to-date. Carnival Corp, meanwhile, is up 118.87% year-to-date, and Walgreens Boots Alliance Inc, is down 36.96% year-to-date. CCL makes up approximately 0.2% of the underlying holdings of IYC.
The next best performing sector is the Materials sector, up 0.9%. Among large Materials stocks, Albemarle Corp. (Symbol: ALB) and Sealed Air Corp (Symbol: SEE) are the most notable, showing a gain of 5.7% and 3.4%, respectively. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is up 0.3% in midday trading, and up 6.46% on a year-to-date basis. Albemarle Corp., meanwhile, is down 43.63% year-to-date, and Sealed Air Corp, is down 33.21% year-to-date. Combined, ALB and SEE make up approximately 4.7% of the underlying holdings of XLB.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday. As you can see, eight sectors are up on the day, while one sector is down.
SECTOR % CHANGE
Services +0.9%
Materials +0.9%
Consumer Products +0.8%
Healthcare +0.8%
Industrial +0.8%
Utilities +0.7%
Financial +0.2%
Technology & Communications +0.1%
Energy -1.3%
25 Dividend Giants Widely Held By ETFs »
Also see:
Top Stocks Held By Ray Dalio
TECS Average Annual Return
LIFE Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Combined, ALB and SEE make up approximately 4.7% of the underlying holdings of XLB. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday. Services +0.9% Materials +0.9% Consumer Products +0.8% Healthcare +0.8% Industrial +0.8% Utilities +0.7% Financial +0.2% Technology & Communications +0.1% Energy -1.3% 25 Dividend Giants Widely Held By ETFs » Also see: Top Stocks Held By Ray Dalio TECS Average Annual Return LIFE Historical Stock Prices The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Within that group, Carnival Corp (Symbol: CCL) and Walgreens Boots Alliance Inc (Symbol: WBA) are two large stocks leading the way, showing a gain of 5.7% and 5.0%, respectively. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is up 0.7% on the day, and up 28.31% year-to-date. Among large Materials stocks, Albemarle Corp. (Symbol: ALB) and Sealed Air Corp (Symbol: SEE) are the most notable, showing a gain of 5.7% and 3.4%, respectively.
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Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is up 0.7% on the day, and up 28.31% year-to-date. One ETF closely tracking Materials stocks is the Materials Select Sector SPDR ETF (XLB), which is up 0.3% in midday trading, and up 6.46% on a year-to-date basis. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Wednesday.
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The best performing sector as of midday Wednesday is the Services sector, higher by 0.9%. Among the largest ETFs, one ETF closely following services stocks is the iShares U.S. Consumer Services ETF (Symbol: IYC), which is up 0.7% on the day, and up 28.31% year-to-date. Among large Materials stocks, Albemarle Corp. (Symbol: ALB) and Sealed Air Corp (Symbol: SEE) are the most notable, showing a gain of 5.7% and 3.4%, respectively.
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08377e88-a05b-417c-8f6c-8d09f6eef5da
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714365.0
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2023-12-06 00:00:00 UTC
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Why MongoDB Stock Dropped Today
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DCOMP
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https://www.nasdaq.com/articles/why-mongodb-stock-dropped-today
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Shares of MongoDB (NASDAQ: MDB) are down 7.8% as of 1:45 p.m. ET Wednesday despite an impressive quarterly report from the NoSQL database platform provider.
For MongoDB's fiscal third quarter ended Oct. 31, 2023, revenue grew 30% year over year to $432.9 million, translating to adjusted (non-GAAP) net income of $79.1 million, or $0.96 per share. By comparison, most analysts were modeling earnings of $0.50 per share on revenue of $404 million.
MongoDB Atlas continues to shine
Within MongoDB's top line, revenue from MongoDB Atlas -- its fully managed cloud database platform -- grew 36% year over year to comprise 66% of total quarterly revenue. MongoDB saw continued momentum in customer growth as well, with its total number of customers up 18.7% year over year to over 46,400. The number of customers generating annual recurring revenue of at least $100,000 grew 28% year over year to 1,972.
"We are pleased by our success in winning new workloads from both new and existing customers across verticals, geographies, and customer segments," stated MongoDB CEO Dev Ittycheria. "MongoDB has clearly established itself as an indispensable part of the tech stack of any organization focused on building durable competitive differentiation through software development."
MongoDB also reached a significant milestone by achieving cash-flow positivity; the company generated cash flow from operations of $38.4 million, and free cash flow of $35 million this quarter, swinging from negative free cash flow of $8.4 million in the same year-ago period.
What's next for MongoDB stock?
For the current fiscal fourth quarter ending in January, MongoDB expects revenue of $429 million to $433 million, and adjusted net income per share of $0.44 to $0.46. Both ranges were comfortably above consensus estimates for fiscal Q4 earnings of $0.37 per share on revenue closer to $414 million.
Finally, MongoDB also raised its full fiscal-year outlook to call for revenue of $1.654 billion to $1.658 billion (up from $1.596 billion to $1.608 billion before), and adjusted net income per share of $2.89 to $2.91 (increased from $2.27 to $2.35 previously).
For perspective, even after today's pullback MongoDB stock is still up 176% over the past year, including a roughly 110% rally so far in calendar year 2023. Perhaps this pullback is more of a healthy pause, then, that could help MongoDB stock gather a solid base before it resumes its rally. Given its solid beat-and-raise performance today, I'm perfectly content continuing to hold my shares.
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Steve Symington has positions in MongoDB. The Motley Fool has positions in and recommends MongoDB. 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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"MongoDB has clearly established itself as an indispensable part of the tech stack of any organization focused on building durable competitive differentiation through software development." Both ranges were comfortably above consensus estimates for fiscal Q4 earnings of $0.37 per share on revenue closer to $414 million. Perhaps this pullback is more of a healthy pause, then, that could help MongoDB stock gather a solid base before it resumes its rally.
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For MongoDB's fiscal third quarter ended Oct. 31, 2023, revenue grew 30% year over year to $432.9 million, translating to adjusted (non-GAAP) net income of $79.1 million, or $0.96 per share. MongoDB also reached a significant milestone by achieving cash-flow positivity; the company generated cash flow from operations of $38.4 million, and free cash flow of $35 million this quarter, swinging from negative free cash flow of $8.4 million in the same year-ago period. For the current fiscal fourth quarter ending in January, MongoDB expects revenue of $429 million to $433 million, and adjusted net income per share of $0.44 to $0.46.
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For MongoDB's fiscal third quarter ended Oct. 31, 2023, revenue grew 30% year over year to $432.9 million, translating to adjusted (non-GAAP) net income of $79.1 million, or $0.96 per share. MongoDB Atlas continues to shine Within MongoDB's top line, revenue from MongoDB Atlas -- its fully managed cloud database platform -- grew 36% year over year to comprise 66% of total quarterly revenue. MongoDB also reached a significant milestone by achieving cash-flow positivity; the company generated cash flow from operations of $38.4 million, and free cash flow of $35 million this quarter, swinging from negative free cash flow of $8.4 million in the same year-ago period.
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For MongoDB's fiscal third quarter ended Oct. 31, 2023, revenue grew 30% year over year to $432.9 million, translating to adjusted (non-GAAP) net income of $79.1 million, or $0.96 per share. What's next for MongoDB stock? For the current fiscal fourth quarter ending in January, MongoDB expects revenue of $429 million to $433 million, and adjusted net income per share of $0.44 to $0.46.
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714366.0
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2023-12-06 00:00:00 UTC
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Lakeland Industries (LAKE) Beats Q3 Earnings and Revenue Estimates
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https://www.nasdaq.com/articles/lakeland-industries-lake-beats-q3-earnings-and-revenue-estimates
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Lakeland Industries (LAKE) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 25.93%. A quarter ago, it was expected that this safety garments manufacturer would post earnings of $0.23 per share when it actually produced earnings of $0.32, delivering a surprise of 39.13%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Lakeland Industries, which belongs to the Zacks Security and Safety Services industry, posted revenues of $31.68 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 2.52%. This compares to year-ago revenues of $28.39 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Lakeland Industries shares have added about 9.4% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Lakeland Industries?
While Lakeland Industries has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Lakeland Industries: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.28 on $31.3 million in revenues for the coming quarter and $1.05 on $124 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Security and Safety Services is currently in the top 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Johnson Controls (JCI), has yet to report results for the quarter ended September 2023. The results are expected to be released on December 12.
This diversified technology and industrial company is expected to post quarterly earnings of $1.09 per share in its upcoming report, which represents a year-over-year change of +10.1%. The consensus EPS estimate for the quarter has been revised 1.5% lower over the last 30 days to the current level.
Johnson Controls' revenues are expected to be $7.09 billion, up 5.5% from the year-ago quarter.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lakeland Industries, Inc. (LAKE) : Free Stock Analysis Report
Johnson Controls International plc (JCI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. This diversified technology and industrial company is expected to post quarterly earnings of $1.09 per share in its upcoming report, which represents a year-over-year change of +10.1%.
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Lakeland Industries, which belongs to the Zacks Security and Safety Services industry, posted revenues of $31.68 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 2.52%. The current consensus EPS estimate is $0.28 on $31.3 million in revenues for the coming quarter and $1.05 on $124 million in revenues for the current fiscal year. Click to get this free report Lakeland Industries, Inc. (LAKE) : Free Stock Analysis Report Johnson Controls International plc (JCI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Lakeland Industries (LAKE) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.27 per share. Lakeland Industries, which belongs to the Zacks Security and Safety Services industry, posted revenues of $31.68 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 2.52%. Click to get this free report Lakeland Industries, Inc. (LAKE) : Free Stock Analysis Report Johnson Controls International plc (JCI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Lakeland Industries (LAKE) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.27 per share. Lakeland Industries, which belongs to the Zacks Security and Safety Services industry, posted revenues of $31.68 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 2.52%. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
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714367.0
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2023-12-06 00:00:00 UTC
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3 Stocks Capitalizing on the Global Shift to Plant-Based Foods
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https://www.nasdaq.com/articles/3-stocks-capitalizing-on-the-global-shift-to-plant-based-foods
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Plant-based food stocks once captured Wall Street’s imagination, symbolizing a shift towards sustainable eating habits. The sector was initially met with a wave of investor enthusiasm, marked by a series of high-profile initial public offerings. However, as the market faced headwinds last year, the initial hype around these stocks cooled.
Nonetheless, recent trends suggest a resurgence. Future Market Insights projects significant growth for the plant-based food market, forecasting a jump from $11.3 billion in 2023 to $35.9 billion by 2033, with a robust compound annual growth rate (CAGR) of 12.2%.
Additionally, this growth is propelled by increasing environmental consciousness and animal welfare concerns, pushing plant-based foods to the forefront of consumer choices. The escalating issue of food insecurity also plays a crucial role in boosting market prospects.
Moreover, manufacturers are rigorously investing in research and development, focusing on products that parallel the taste and texture of animal-based foods. That commitment to innovation positions these three plant-based food stocks as promising prospects for long-term investment.
Oatly Group (OTLY)
Source: Katrinshine / Shutterstock.com
Oatly Group (NASDAQ:OTLY), renowned as the pioneer and largest oat drink company globally, offers a diverse range of plant-based dairy alternatives.
Notably, in 2022, Oatly introduced a plant-based milk alternative on German trains and incorporated electric trucks into its North American transport fleet. Additionally, in January 2023, it announced the launch of climate footprint labels for select products in North America, reinforcing its commitment to sustainability.
Financially, the company reported GAAP earnings per share of a negative seven cents, beating estimates by five cents, yet its revenue of $187.6 million, a 2.5% year-over-year increase, fell short of estimates by $5.66 million. However, the silver lining lies in its improved adjusted EBITDA, with a loss of $36.0 million — an upswing of $46.7 million compared to the previous year.
Despite experiencing a 22% dip in stock value year-over-year, the oat milk market presents significant potential for future gains, with its projected growth exceeding 6% through 2033.
Ingredion (INGR)
Source: JHVEPhoto / Shutterstock.com
Ingredion (NYSE:INGR), a global leader in ingredient solutions, has made significant strides in the food industry. The company stands out for its diverse product range, serving various industries across continents. Notably, in mid-2021, it launched North America’s first facility dedicated to producing pea protein isolate and pea starch, marking a significant milestone with a 22% bump in market capitalization to $6.43 billion.
Moreover, in the third quarter, its non-GAAP earnings per share of $2.33 exceeded expectations by 38 cents, although its revenue of $2.03 billion was slightly below forecasts. Impressively, the company’s forward operating cash flow has grown 29.83%, outperforming the sector median of 5.84% by a stellar 411%.
Furthermore, its pea protein isolate, with a high 85% protein content, is ideal for enhancing various plant-based foods and beverages. Similarly, the company’s pea starch finds versatile applications, including in the production of plant-based cheeses, aligning with evolving consumer trends toward health-conscious eating.
Nomad Foods (NOMD)
Source: defotoberg / Shutterstock.com
Nomad Foods (NYSE:NOMD), with a commanding $3 billion market capitalization, dominates the European frozen food market with leading brands such as Birds Eye and Findus. Positioned as a top plant-based food stock for 2024, its offerings extend beyond just frozen vegetables. As a retailer of plant-based meat alternatives, it provides popular items like plant-based chicken nuggets and fish sticks, broadening its appeal in the market.
Financially, the company outperforms with its earnings per share of 46 cents, exceeding expectations by six cents. Revenue growth is equally striking at $814.14 million, an 8.5% increase year-over-year, surpassing estimates by $8.65 million. Astonishingly, it achieved a remarkable year-over-year operating cash flow growth of 88.6%, a whopping 407% above the sector median of 17.46%.
Despite a 3% year-over-year dip in stock value, TipRanks analysts assign a Strong Buy rating, foreseeing a 35.5% upside potential. This optimism underscores confidence in Nomad Foods’ positioning as a compelling player in the food industry.
On the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
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The post 3 Stocks Capitalizing on the Global Shift to Plant-Based Foods 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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Additionally, this growth is propelled by increasing environmental consciousness and animal welfare concerns, pushing plant-based foods to the forefront of consumer choices. Similarly, the company’s pea starch finds versatile applications, including in the production of plant-based cheeses, aligning with evolving consumer trends toward health-conscious eating. The #1 AI Investment Might Be This Company You’ve Never Heard Of The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Stocks Capitalizing on the Global Shift to Plant-Based Foods appeared first on InvestorPlace.
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Oatly Group (OTLY) Source: Katrinshine / Shutterstock.com Oatly Group (NASDAQ:OTLY), renowned as the pioneer and largest oat drink company globally, offers a diverse range of plant-based dairy alternatives. Despite experiencing a 22% dip in stock value year-over-year, the oat milk market presents significant potential for future gains, with its projected growth exceeding 6% through 2033. Nomad Foods (NOMD) Source: defotoberg / Shutterstock.com Nomad Foods (NYSE:NOMD), with a commanding $3 billion market capitalization, dominates the European frozen food market with leading brands such as Birds Eye and Findus.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Plant-based food stocks once captured Wall Street’s imagination, symbolizing a shift towards sustainable eating habits. Future Market Insights projects significant growth for the plant-based food market, forecasting a jump from $11.3 billion in 2023 to $35.9 billion by 2033, with a robust compound annual growth rate (CAGR) of 12.2%. Nomad Foods (NOMD) Source: defotoberg / Shutterstock.com Nomad Foods (NYSE:NOMD), with a commanding $3 billion market capitalization, dominates the European frozen food market with leading brands such as Birds Eye and Findus.
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That commitment to innovation positions these three plant-based food stocks as promising prospects for long-term investment. Despite experiencing a 22% dip in stock value year-over-year, the oat milk market presents significant potential for future gains, with its projected growth exceeding 6% through 2033. Notably, in mid-2021, it launched North America’s first facility dedicated to producing pea protein isolate and pea starch, marking a significant milestone with a 22% bump in market capitalization to $6.43 billion.
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714368.0
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2023-12-06 00:00:00 UTC
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Here's What Key Metrics Tell Us About G-III Apparel (GIII) Q3 Earnings
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DCOMP
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https://www.nasdaq.com/articles/heres-what-key-metrics-tell-us-about-g-iii-apparel-giii-q3-earnings
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nan
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For the quarter ended October 2023, G-III Apparel Group (GIII) reported revenue of $1.07 billion, down 1% over the same period last year. EPS came in at $2.78, compared to $1.35 in the year-ago quarter.
The reported revenue represents a surprise of -5.62% over the Zacks Consensus Estimate of $1.13 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +33.65%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how G-III Apparel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Retail: $32.71 million versus the three-analyst average estimate of $29.98 million.
Net Sales- Wholesale: $1.05 billion versus the three-analyst average estimate of $1.12 billion.
Net Sales- Elimination: -$19.90 million versus the three-analyst average estimate of -$21.45 million.
Operating profit (loss)- Retail: -$8.09 million versus the three-analyst average estimate of -$9.14 million.
Operating profit (loss)- Wholesale: $198.38 million compared to the $154.04 million average estimate based on three analysts.
View all Key Company Metrics for G-III Apparel here>>>
Shares of G-III Apparel have returned +6.7% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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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For the quarter ended October 2023, G-III Apparel Group (GIII) reported revenue of $1.07 billion, down 1% over the same period last year. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Here is how G-III Apparel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Retail: $32.71 million versus the three-analyst average estimate of $29.98 million. Net Sales- Wholesale: $1.05 billion versus the three-analyst average estimate of $1.12 billion. Operating profit (loss)- Retail: -$8.09 million versus the three-analyst average estimate of -$9.14 million.
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As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how G-III Apparel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Retail: $32.71 million versus the three-analyst average estimate of $29.98 million. 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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Here is how G-III Apparel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Retail: $32.71 million versus the three-analyst average estimate of $29.98 million. View all Key Company Metrics for G-III Apparel here>>> Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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57b00d7f-39be-4994-9f26-da3cc955399c
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714369.0
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2023-12-06 00:00:00 UTC
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PNM Resources (PNM) Raises Annual Dividend Rate by 5.4%
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DCOMP
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https://www.nasdaq.com/articles/pnm-resources-pnm-raises-annual-dividend-rate-by-5.4
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nan
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nan
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PNM Resources, Inc.’s PNM board of directors approved an increase in the quarterly dividend rate by 2 cents. The revised quarterly dividend will be 38.75 cents, payable on Feb 16, 2024, to shareholders of record at the close of business on Feb 2, 2014.
The annualized dividend of the company will come to $1.55, up 5.4% from the prior rate. The current annualized dividend yield is 3.68%, slightly higher than the industry average of 3.52%.
PNM Resources’ dividend payout ratio after the increment was 55.9%. The company targets a dividend payout ratio in the band of 50-60% over the long term.
The company generally reviews its dividend rate once a year and its board takes into consideration, among other things, factors like the sustainability of the dividend, funds required for capital investments and industry standards before approving a hike.
Can PNM Resources Sustain the Dividend?
PNM Resources is working on developing its infrastructure and providing better services to its customers. The company plans to invest $5.9 billion over the 2023-2027 time frame. The company is expanding its operations through organic and inorganic means. The capital investment plan will support an average rate base CAGR of 10.6% during the 2023-2027 period.
PNM Resources has been a consistent performer, with its earnings beating the Zacks Consensus Estimate in three out of the last four quarters. The long-term objective of the company is to ensure earnings growth of 5% over a period of five years (2020 being the base year) and to maintain a competitive dividend payout.
Cash flow from operating activities at the end of the first nine months of 2023 was $412.6 million and during the same period, the company utilized $95 million for dividend payouts. The company's strong cash flow-generating capability will aid it in funding incremental dividends.
Utilities Continue to Reward Shareholders
Domestic-focused, rate-regulated utilities are stable performers, which allows them to reward shareholders through dividend hikes and share buybacks. Other utilities like UGI Corporation UGI, Atmos Energy Corporation ATO and Southern Company SO have raised dividend rates during 2023. The above-mentioned utilities have raised annual dividend rates for more than the past two decades.
The current dividend yields of UGI, Atmos Energy and Southern Company are 6.58%, 2.8% and 3.93%, respectively, which is better than Zacks S&P 500 Composite’s yield of 1.68%.
Price Performance
Shares of PNM Resources have underperformed the industry in the last six months.
Image Source: Zacks Investment Research
Zacks Rank
PNM Resources currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Southern Company (The) (SO) : Free Stock Analysis Report
Atmos Energy Corporation (ATO) : Free Stock Analysis Report
UGI Corporation (UGI) : Free Stock Analysis Report
PNM Resources, Inc. (PNM) : 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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PNM Resources has been a consistent performer, with its earnings beating the Zacks Consensus Estimate in three out of the last four quarters. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Other utilities like UGI Corporation UGI, Atmos Energy Corporation ATO and Southern Company SO have raised dividend rates during 2023. Image Source: Zacks Investment Research Zacks Rank PNM Resources currently has a Zacks Rank #3 (Hold). Click to get this free report Southern Company (The) (SO) : Free Stock Analysis Report Atmos Energy Corporation (ATO) : Free Stock Analysis Report UGI Corporation (UGI) : Free Stock Analysis Report PNM Resources, Inc. (PNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company generally reviews its dividend rate once a year and its board takes into consideration, among other things, factors like the sustainability of the dividend, funds required for capital investments and industry standards before approving a hike. Image Source: Zacks Investment Research Zacks Rank PNM Resources currently has a Zacks Rank #3 (Hold). Click to get this free report Southern Company (The) (SO) : Free Stock Analysis Report Atmos Energy Corporation (ATO) : Free Stock Analysis Report UGI Corporation (UGI) : Free Stock Analysis Report PNM Resources, Inc. (PNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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PNM Resources, Inc.’s PNM board of directors approved an increase in the quarterly dividend rate by 2 cents. PNM Resources’ dividend payout ratio after the increment was 55.9%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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b54ec9b0-6f74-4bd5-85b4-5753d9501f4d
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714370.0
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2023-12-06 00:00:00 UTC
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Unum (UNM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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DCOMP
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https://www.nasdaq.com/articles/unum-unm-sees-a-more-significant-dip-than-broader-market%3A-some-facts-to-know
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nan
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nan
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In the latest trading session, Unum (UNM) closed at $42.34, marking a -0.42% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.39% for the day. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
The the stock of insurance company has fallen by 2.54% in the past month, lagging the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Unum in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.87, reflecting a 30.77% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $3.13 billion, up 4.4% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.74 per share and a revenue of $12.4 billion, indicating changes of +24.64% and +3.27%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Unum. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% upward. Unum presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Unum is presently being traded at a Forward P/E ratio of 5.5. This expresses a discount compared to the average Forward P/E of 12.24 of its industry.
We can also see that UNM currently has a PEG ratio of 0.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Accident and Health industry had an average PEG ratio of 1.4 as trading concluded yesterday.
The Insurance - Accident and Health industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Unum Group (UNM) : 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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Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.74 per share and a revenue of $12.4 billion, indicating changes of +24.64% and +3.27%, respectively, from the former year. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Click to get this free report Unum Group (UNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 18% of over 250 industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups.
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In the latest trading session, Unum (UNM) closed at $42.34, marking a -0.42% move from the previous day. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 18% of over 250 industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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e9f10788-8f2e-4708-aab3-a3ef152e1133
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714371.0
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2023-12-06 00:00:00 UTC
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Here's What Key Metrics Tell Us About Verint (VRNT) Q3 Earnings
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DCOMP
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https://www.nasdaq.com/articles/heres-what-key-metrics-tell-us-about-verint-vrnt-q3-earnings
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nan
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nan
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For the quarter ended October 2023, Verint Systems (VRNT) reported revenue of $218.67 million, down 3.1% over the same period last year. EPS came in at $0.65, compared to $0.69 in the year-ago quarter.
The reported revenue represents a surprise of +1.08% over the Zacks Consensus Estimate of $216.33 million. With the consensus EPS estimate being $0.54, the EPS surprise was +20.37%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Verint performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Perpetual revenue - non-GAAP: $24.56 million versus $22.30 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
Revenue- Professional services revenue - non-GAAP: $32.87 million versus $23.42 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +23.8% change.
Revenue- Support revenue - non-GAAP: $33.62 million compared to the $31.06 million average estimate based on three analysts. The reported number represents a change of -21.8% year over year.
View all Key Company Metrics for Verint here>>>
Shares of Verint have returned +14.6% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Verint Systems Inc. (VRNT) : 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.
|
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Here is how Verint performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenue- Perpetual revenue - non-GAAP: $24.56 million versus $22.30 million estimated by three analysts on average. Revenue- Professional services revenue - non-GAAP: $32.87 million versus $23.42 million estimated by three analysts on average. Click to get this free report Verint Systems Inc. (VRNT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The reported revenue represents a surprise of +1.08% over the Zacks Consensus Estimate of $216.33 million. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Verint performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenue- Perpetual revenue - non-GAAP: $24.56 million versus $22.30 million estimated by three analysts on average.
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The reported revenue represents a surprise of +1.08% over the Zacks Consensus Estimate of $216.33 million. Here is how Verint performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenue- Perpetual revenue - non-GAAP: $24.56 million versus $22.30 million estimated by three analysts on average. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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0d36d85f-7119-40a1-b39d-27d11318ba24
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714372.0
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2023-12-06 00:00:00 UTC
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Why the Market Dipped But Extreme Networks (EXTR) Gained Today
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DCOMP
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https://www.nasdaq.com/articles/why-the-market-dipped-but-extreme-networks-extr-gained-today
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nan
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nan
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The latest trading session saw Extreme Networks (EXTR) ending at $16.14, denoting a +0.19% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.39% for the day. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the maker of network infrastructure equipment witnessed a loss of 4.96% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.19% and the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Extreme Networks in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.30, signifying a 11.11% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $323.3 million, reflecting a 1.55% rise from the equivalent quarter last year.
EXTR's full-year Zacks Consensus Estimates are calling for earnings of $1.40 per share and revenue of $1.38 billion. These results would represent year-over-year changes of +28.44% and +5.31%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Extreme Networks. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Extreme Networks presently features a Zacks Rank of #4 (Sell).
From a valuation perspective, Extreme Networks is currently exchanging hands at a Forward P/E ratio of 11.51. Its industry sports an average Forward P/E of 11.51, so one might conclude that Extreme Networks is trading at no noticeable deviation comparatively.
It's also important to note that EXTR currently trades at a PEG ratio of 0.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Networking was holding an average PEG ratio of 0.68 at yesterday's closing price.
The Computer - Networking industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Extreme Networks, Inc. (EXTR) : 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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Analysts and investors alike will be keeping a close eye on the performance of Extreme Networks in its upcoming earnings disclosure. At the same time, our most recent consensus estimate is projecting a revenue of $323.3 million, reflecting a 1.55% rise from the equivalent quarter last year. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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The latest trading session saw Extreme Networks (EXTR) ending at $16.14, denoting a +0.19% adjustment from its last day's close. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Click to get this free report Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 16% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups.
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The Computer - Networking was holding an average PEG ratio of 0.68 at yesterday's closing price. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 16% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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0d150779-f9b4-488a-b196-0be185063580
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714373.0
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2023-12-06 00:00:00 UTC
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Amgen (AMGN) Registers a Bigger Fall Than the Market: Important Facts to Note
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DCOMP
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https://www.nasdaq.com/articles/amgen-amgn-registers-a-bigger-fall-than-the-market%3A-important-facts-to-note
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nan
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nan
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In the latest trading session, Amgen (AMGN) closed at $269.35, marking a -0.56% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
The world's largest biotech drugmaker's shares have seen a decrease of 0.09% over the last month, not keeping up with the Medical sector's gain of 3.38% and the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.67, indicating a 14.18% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $8.07 billion, reflecting a 18.01% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.62 per share and revenue of $28.12 billion, indicating changes of +5.26% and +6.83%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Amgen. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. As of now, Amgen holds a Zacks Rank of #3 (Hold).
Looking at valuation, Amgen is presently trading at a Forward P/E ratio of 14.55. Its industry sports an average Forward P/E of 15.35, so one might conclude that Amgen is trading at a discount comparatively.
Meanwhile, AMGN's PEG ratio is currently 2.59. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.61.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amgen Inc. (AMGN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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At the same time, our most recent consensus estimate is projecting a revenue of $8.07 billion, reflecting a 18.01% rise from the equivalent quarter last year. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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In the latest trading session, Amgen (AMGN) closed at $269.35, marking a -0.56% move from the previous day. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.62 per share and revenue of $28.12 billion, indicating changes of +5.26% and +6.83%, respectively, compared to the previous year. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.61.
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The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups.
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In the latest trading session, Amgen (AMGN) closed at $269.35, marking a -0.56% move from the previous day. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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2d988c82-d880-4791-baf6-142bfaf57e40
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714374.0
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2023-12-06 00:00:00 UTC
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Covenant Logistics (CVLG) Suffers a Larger Drop Than the General Market: Key Insights
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DCOMP
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https://www.nasdaq.com/articles/covenant-logistics-cvlg-suffers-a-larger-drop-than-the-general-market%3A-key-insights
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nan
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nan
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Covenant Logistics (CVLG) closed the latest trading day at $42.22, indicating a -1.97% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Coming into today, shares of the truckload transportation services provider had gained 6.98% in the past month. In that same time, the Transportation sector gained 7%, while the S&P 500 gained 5.08%.
Market participants will be closely following the financial results of Covenant Logistics in its upcoming release. The company's earnings per share (EPS) are projected to be $1.07, reflecting a 21.9% decrease from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Covenant Logistics. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Covenant Logistics presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Covenant Logistics is presently trading at a Forward P/E ratio of 10.32. Its industry sports an average Forward P/E of 24.1, so one might conclude that Covenant Logistics is trading at a discount comparatively.
The Transportation - Truck industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Covenant Logistics Group, Inc. (CVLG) : 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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Covenant Logistics (CVLG) closed the latest trading day at $42.22, indicating a -1.97% change from the previous session's end. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Covenant Logistics (CVLG) closed the latest trading day at $42.22, indicating a -1.97% change from the previous session's end. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Covenant Logistics Group, Inc. (CVLG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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Covenant Logistics (CVLG) closed the latest trading day at $42.22, indicating a -1.97% change from the previous session's end. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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09c5ff98-60d5-49c8-bcd2-3880c4810cf4
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714375.0
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2023-12-06 00:00:00 UTC
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U.S. Bancorp (USB) Falls More Steeply Than Broader Market: What Investors Need to Know
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DCOMP
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https://www.nasdaq.com/articles/u.s.-bancorp-usb-falls-more-steeply-than-broader-market%3A-what-investors-need-to-know
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nan
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nan
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U.S. Bancorp (USB) ended the recent trading session at $39.08, demonstrating a -0.81% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 13.19% over the past month, outpacing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08% in that time.
The investment community will be paying close attention to the earnings performance of U.S. Bancorp in its upcoming release. The company is slated to reveal its earnings on January 17, 2024. The company is predicted to post an EPS of $0.99, indicating a 17.5% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.83 billion, indicating a 7.82% increase compared to the same quarter of the previous year.
USB's full-year Zacks Consensus Estimates are calling for earnings of $4.32 per share and revenue of $28.15 billion. These results would represent year-over-year changes of -2.92% and +16.4%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for U.S. Bancorp. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. U.S. Bancorp is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, U.S. Bancorp currently has a Forward P/E ratio of 9.13. This represents no noticeable deviation compared to its industry's average Forward P/E of 9.13.
It is also worth noting that USB currently has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
U.S. Bancorp (USB) : 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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U.S. Bancorp (USB) ended the recent trading session at $39.08, demonstrating a -0.81% swing from the preceding day's closing price. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report U.S. Bancorp (USB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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U.S. Bancorp (USB) ended the recent trading session at $39.08, demonstrating a -0.81% swing from the preceding day's closing price. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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145f0dad-924c-4f0d-ba42-a8f32f829928
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714376.0
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2023-12-06 00:00:00 UTC
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Hubbell (HUBB) Rises As Market Takes a Dip: Key Facts
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DCOMP
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https://www.nasdaq.com/articles/hubbell-hubb-rises-as-market-takes-a-dip%3A-key-facts
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nan
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nan
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The latest trading session saw Hubbell (HUBB) ending at $303.41, denoting a +1.2% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
The electrical products manufacturer's shares have seen an increase of 7.61% over the last month, surpassing the Industrial Products sector's gain of 4.21% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of Hubbell in its upcoming release. In that report, analysts expect Hubbell to post earnings of $3.56 per share. This would mark year-over-year growth of 36.92%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.31 billion, indicating a 7.63% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.19 per share and a revenue of $5.34 billion, indicating changes of +43.03% and +7.92%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Hubbell. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Hubbell is currently a Zacks Rank #3 (Hold).
In terms of valuation, Hubbell is currently trading at a Forward P/E ratio of 19.74. This signifies no noticeable deviation in comparison to the average Forward P/E of 19.74 for its industry.
Investors should also note that HUBB has a PEG ratio of 1.97 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Electrical Utilities industry had an average PEG ratio of 1.97.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hubbell Inc (HUBB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Meanwhile, the latest consensus estimate predicts the revenue to be $1.31 billion, indicating a 7.63% increase compared to the same quarter of the previous year. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Meanwhile, the latest consensus estimate predicts the revenue to be $1.31 billion, indicating a 7.63% increase compared to the same quarter of the previous year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.19 per share and a revenue of $5.34 billion, indicating changes of +43.03% and +7.92%, respectively, from the former year. By the end of yesterday's trading, the Manufacturing - Electrical Utilities industry had an average PEG ratio of 1.97.
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In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.19 per share and a revenue of $5.34 billion, indicating changes of +43.03% and +7.92%, respectively, from the former year. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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Hubbell is currently a Zacks Rank #3 (Hold). This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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9532f4fa-fb7d-48b0-b5a4-dc0b762cf81c
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714377.0
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2023-12-06 00:00:00 UTC
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The 3 Best Hanukkah Stocks to Buy
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DCOMP
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https://www.nasdaq.com/articles/the-3-best-hanukkah-stocks-to-buy
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nan
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nan
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With Black Friday and Cyber Monday behind us, it's time to focus on a festive and lucrative time of year - Hanukkah, which starts at sundown on Thursday. The best stocks to buy on Hanukkah will be the ones that provide value and growth year-round but can also get a nice boost during the holiday shopping season.
During these troubling times, we can still dust off the menorah, celebrate with family, and honor our traditions. At the same time, we can consider a variety of opportunities to grow our portfolios with three Hanukkah-themed investments that could gift us with profits throughout 2024.
Mattel (NASDAQ:MAT)
Shoppers are spending huge quantities of money on Hanukkah gifts this holiday season. Sure, they already bought gifts for children on Black Friday and Cyber Monday, but not everyone planned their shopping ahead of time. Besides, Hanukkah requires not just one gift, but eight of them, so don't assume that the toy-buying spree is over yet.
Two giant toy manufacturers that should generate powerful profits in December are Hasbro (NASDAQ:HAS) and Mattel. To hedge your bets and diversify your portfolio a bit, you could consider a share position in both companies.
Yet, a head-to-head comparison leans toward Mattel over Hasbro. As we'll see in a moment, Mattel is heavily favored by the analyst community. Meanwhile, analysts generally consider Hasbro stock a Moderate Buy, which isn't bad, but it's not anything to write home about.
Mattel, in contrast, looks like a huge potential winner because of Barbie's recent resurgence. Kids and adults flocked to the Barbie movie, and this translated to a bump in quarterly doll sales. So, MAT stock could be a high-growth runner as parents scramble to get last-minute gifts for their kids, and maybe even for themselves as well.
What is the Price Target for Mattel Stock?
On TipRanks, MAT is a Strong Buy based on eight unanimous Buy ratings assigned in the past three months. The average Mattel stock price target is $24.14, implying 27.25% upside potential.
Hershey (NYSE:HSY)
I must admit that one of my favorite things about Hanukkah has always been those foil-wrapped chocolate coins. Sure, they're available online year-round, but Hanukkah gives me an excuse to unwrap and eat them to my heart's content.
Thinking of this turns my attention to chocolate makers as a possible investment. I've heard it said that companies like Cadbury chocolate manufacturer Mondelez International (NASDAQ:MDLZ) and Hershey tend to be recession-proof, or at least recession-resistant.
Hence, it's fine to consider both of these companies, but I'm picking Hershey stock as my favorite for several reasons. First and foremost, I checked Hershey's earnings and revenue history chart and observed consistent growth in the company's revenue and earnings.
Speaking of earnings, Hershey has a terrific track record of beating Wall Street's consensus quarterly EPS forecasts. On top of all that, Hershey offers a nice gift every three months in the form of dividend distributions. Specifically, the company's dividend yield of 2.33% exceeds the sector average yield, so I invite you to consider collecting some tasty dividends with HSY stock.
What is the Price Target for Hershey Stock?
On TipRanks, HSY is a Moderate Buy based on six Buys and 11 Hold ratings given in the past three months. The average Hershey stock price target is $213.65, implying 12.92% upside potential.
Walmart (NYSE:WMT)
Other ideas for Hanukkah stocks might include candle makers or olive oil producers since we light the menorah with olive oil. However, the businesses that manufacture these products aren't typically listed on a major U.S. stock exchange. On the other hand, legions of shoppers will buy these items at the big-box behemoth, Walmart.
It's possible to purchase candles, olive oil, and other Hanukkah-associated goods online, but many people would prefer to simply pick them up locally at Walmart. Why fight this trend as an investor?
Moreover, Walmart usually beats analysts' quarterly consensus EPS estimates and is known to slowly but surely increase its dividend payouts. Also, bear in mind that Walmart owns Sam's Club, where shoppers look for prime deals for Hanukkah and throughout the year.
Like Hershey stock, Walmart stock is generally low-volatility and somewhat recession-resistant. Therefore, I'm considering a share stake in Walmart for December as well as for the coming year.
What is the Price Target for Walmart Stock?
On TipRanks, WMT comes in as a Strong Buy, based on 25 Buys and five Hold ratings. The average Walmart stock price target is $180.79, implying 17.4% upside potential.
The Takeaway
From Mattel to Hershey and even Walmart, the brands that remain strong during the eight days of Hanukkah are resilient in all seasons. It just goes to show that a solid business can offer value and growth regardless of the time of year.
Nonetheless, Hanukkah is a time for joy and reflection, and it's also a great time to re-evaluate your portfolio's holdings. Feel free to light that first candle, then, and consider adding a few shares of MAT, HSY, and WMT stock for the holidays and beyond.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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I've heard it said that companies like Cadbury chocolate manufacturer Mondelez International (NASDAQ:MDLZ) and Hershey tend to be recession-proof, or at least recession-resistant. Speaking of earnings, Hershey has a terrific track record of beating Wall Street's consensus quarterly EPS forecasts. It's possible to purchase candles, olive oil, and other Hanukkah-associated goods online, but many people would prefer to simply pick them up locally at Walmart.
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The average Mattel stock price target is $24.14, implying 27.25% upside potential. The average Hershey stock price target is $213.65, implying 12.92% upside potential. The average Walmart stock price target is $180.79, implying 17.4% upside potential.
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Walmart (NYSE:WMT) Other ideas for Hanukkah stocks might include candle makers or olive oil producers since we light the menorah with olive oil. Like Hershey stock, Walmart stock is generally low-volatility and somewhat recession-resistant. The average Walmart stock price target is $180.79, implying 17.4% upside potential.
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The best stocks to buy on Hanukkah will be the ones that provide value and growth year-round but can also get a nice boost during the holiday shopping season. Mattel (NASDAQ:MAT) Shoppers are spending huge quantities of money on Hanukkah gifts this holiday season. Meanwhile, analysts generally consider Hasbro stock a Moderate Buy, which isn't bad, but it's not anything to write home about.
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7cdd3298-f029-4716-977a-f7b1825d32da
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714378.0
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2023-12-06 00:00:00 UTC
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Lam Research (LRCX) Stock Moves -0.33%: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/lam-research-lrcx-stock-moves-0.33%3A-what-you-should-know
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nan
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nan
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Lam Research (LRCX) closed the latest trading day at $694.87, indicating a -0.33% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
Coming into today, shares of the semiconductor equipment maker had gained 8.71% in the past month. In that same time, the Computer and Technology sector gained 6.19%, while the S&P 500 gained 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Lam Research in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $7.05, marking a 34.17% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $3.71 billion, down 29.72% from the year-ago period.
LRCX's full-year Zacks Consensus Estimates are calling for earnings of $27.65 per share and revenue of $14.66 billion. These results would represent year-over-year changes of -19.08% and -15.9%, respectively.
Investors might also notice recent changes to analyst estimates for Lam Research. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Lam Research presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Lam Research is presently trading at a Forward P/E ratio of 25.21. This valuation marks a premium compared to its industry's average Forward P/E of 22.47.
It's also important to note that LRCX currently trades at a PEG ratio of 4.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. LRCX's industry had an average PEG ratio of 3.59 as of yesterday's close.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LRCX in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lam Research Corporation (LRCX) : 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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Lam Research (LRCX) closed the latest trading day at $694.87, indicating a -0.33% change from the previous session's end. Analysts and investors alike will be keeping a close eye on the performance of Lam Research in its upcoming earnings disclosure. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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Lam Research (LRCX) closed the latest trading day at $694.87, indicating a -0.33% change from the previous session's end. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Click to get this free report Lam Research Corporation (LRCX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Click to get this free report Lam Research Corporation (LRCX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Lam Research (LRCX) closed the latest trading day at $694.87, indicating a -0.33% change from the previous session's end. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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22d1a64e-6d8b-41fd-97fe-7c2fd9eb327c
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714379.0
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2023-12-06 00:00:00 UTC
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Freeport-McMoRan (FCX) Suffers a Larger Drop Than the General Market: Key Insights
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DCOMP
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https://www.nasdaq.com/articles/freeport-mcmoran-fcx-suffers-a-larger-drop-than-the-general-market%3A-key-insights-0
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nan
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nan
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The latest trading session saw Freeport-McMoRan (FCX) ending at $36.25, denoting a -0.88% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.39%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the mining company had gained 7.37% over the past month. This has outpaced the Basic Materials sector's gain of 2.7% and the S&P 500's gain of 5.08% in that time.
The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. In that report, analysts expect Freeport-McMoRan to post earnings of $0.30 per share. This would mark a year-over-year decline of 42.31%. Our most recent consensus estimate is calling for quarterly revenue of $5.75 billion, down 0.19% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.45 per share and a revenue of $22.8 billion, indicating changes of -40.57% and +0.07%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.5% downward. Freeport-McMoRan is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 25.22. Its industry sports an average Forward P/E of 17.1, so one might conclude that Freeport-McMoRan is trading at a premium comparatively.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.45 per share and a revenue of $22.8 billion, indicating changes of -40.57% and +0.07%, respectively, from the former year. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Click to get this free report Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 6% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups.
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The latest trading session saw Freeport-McMoRan (FCX) ending at $36.25, denoting a -0.88% adjustment from its last day's close. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 6% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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00417ae8-dd52-4924-a471-47633a92acf0
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714380.0
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2023-12-06 00:00:00 UTC
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Worthington Industries (WOR) Advances While Market Declines: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/worthington-industries-wor-advances-while-market-declines%3A-some-information-for-investors
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nan
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nan
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Worthington Industries (WOR) closed the most recent trading day at $51.62, moving +0.25% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
The the stock of metal manufacturer has fallen by 17.19% in the past month, lagging the Industrial Products sector's gain of 4.21% and the S&P 500's gain of 5.08%.
The investment community will be closely monitoring the performance of Worthington Industries in its forthcoming earnings report. The company is scheduled to release its earnings on December 19, 2023. The company is expected to report EPS of $0.81, up 84.09% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.04 billion, showing a 11.96% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.60 per share and revenue of $4.9 billion. These totals would mark changes of -4.44% and -0.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Worthington Industries. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.9% upward. As of now, Worthington Industries holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Worthington Industries has a Forward P/E ratio of 9.19 right now. This expresses a discount compared to the average Forward P/E of 13.52 of its industry.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Worthington Enterprises, Inc. (WOR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.60 per share and revenue of $4.9 billion. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Worthington Industries (WOR) closed the most recent trading day at $51.62, moving +0.25% from the previous trading session. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.60 per share and revenue of $4.9 billion. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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As of now, Worthington Industries holds a Zacks Rank of #3 (Hold). This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.60 per share and revenue of $4.9 billion. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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9ab7c2e3-db7c-4ae1-9a2d-e75c49374bd9
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714381.0
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2023-12-06 00:00:00 UTC
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PPG Industries (PPG) Increases Despite Market Slip: Here's What You Need to Know
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DCOMP
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https://www.nasdaq.com/articles/ppg-industries-ppg-increases-despite-market-slip%3A-heres-what-you-need-to-know
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nan
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nan
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The most recent trading session ended with PPG Industries (PPG) standing at $142.70, reflecting a +0.04% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Coming into today, shares of the paint and coatings maker had gained 11.61% in the past month. In that same time, the Basic Materials sector gained 2.7%, while the S&P 500 gained 5.08%.
Investors will be eagerly watching for the performance of PPG Industries in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.49, indicating a 22.13% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.27 billion, indicating a 1.92% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $7.64 per share and a revenue of $18.17 billion, demonstrating changes of +26.28% and +2.94%, respectively, from the preceding year.
Any recent changes to analyst estimates for PPG Industries should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, PPG Industries holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PPG Industries has a Forward P/E ratio of 18.67 right now. This represents a premium compared to its industry's average Forward P/E of 16.76.
One should further note that PPG currently holds a PEG ratio of 1.2. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Chemical - Specialty industry currently had an average PEG ratio of 2.73 as of yesterday's close.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PPG Industries, Inc. (PPG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Meanwhile, the latest consensus estimate predicts the revenue to be $4.27 billion, indicating a 1.92% increase compared to the same quarter of the previous year. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Meanwhile, the latest consensus estimate predicts the revenue to be $4.27 billion, indicating a 1.92% increase compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates project earnings of $7.64 per share and a revenue of $18.17 billion, demonstrating changes of +26.28% and +2.94%, respectively, from the preceding year. Click to get this free report PPG Industries, Inc. (PPG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Click to get this free report PPG Industries, Inc. (PPG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Chemical - Specialty industry currently had an average PEG ratio of 2.73 as of yesterday's close. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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99811350-9876-483f-a4a5-392bbaf1ffbe
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714382.0
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2023-12-06 00:00:00 UTC
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Why the Market Dipped But TSMC (TSM) Gained Today
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DCOMP
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https://www.nasdaq.com/articles/why-the-market-dipped-but-tsmc-tsm-gained-today
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nan
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nan
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In the latest trading session, TSMC (TSM) closed at $97.85, marking a +1.2% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.39%. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
The the stock of chip company has risen by 4.63% in the past month, lagging the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08%.
The upcoming earnings release of TSMC will be of great interest to investors. The company's upcoming EPS is projected at $1.34, signifying a 26.37% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $18.99 billion, down 4.71% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $66.45 billion. These totals would mark changes of -24.35% and -12.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for TSMC. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, TSMC holds a Zacks Rank of #3 (Hold).
In terms of valuation, TSMC is currently trading at a Forward P/E ratio of 19.45. For comparison, its industry has an average Forward P/E of 19.45, which means TSMC is trading at no noticeable deviation to the group.
It is also worth noting that TSM currently has a PEG ratio of 2.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Semiconductor - Circuit Foundry industry had an average PEG ratio of 2.71.
The Semiconductor - Circuit Foundry industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $66.45 billion. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $66.45 billion. By the end of yesterday's trading, the Semiconductor - Circuit Foundry industry had an average PEG ratio of 2.71. Click to get this free report Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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In the latest trading session, TSMC (TSM) closed at $97.85, marking a +1.2% move from the previous day. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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96d131ab-4102-4fa9-a335-100ea499a5d1
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714383.0
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2023-12-06 00:00:00 UTC
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Here's Why Exxon Mobil (XOM) Fell More Than Broader Market
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DCOMP
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https://www.nasdaq.com/articles/heres-why-exxon-mobil-xom-fell-more-than-broader-market
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nan
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nan
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In the latest market close, Exxon Mobil (XOM) reached $99.11, with a -1.32% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the oil and natural gas company had lost 3.62% over the past month, lagging the Oils-Energy sector's loss of 3.15% and the S&P 500's gain of 5.08% in that time.
Investors will be eagerly watching for the performance of Exxon Mobil in its upcoming earnings disclosure. In that report, analysts expect Exxon Mobil to post earnings of $2.14 per share. This would mark a year-over-year decline of 37.06%. In the meantime, our current consensus estimate forecasts the revenue to be $92.85 billion, indicating a 2.71% decline compared to the corresponding quarter of the prior year.
XOM's full-year Zacks Consensus Estimates are calling for earnings of $9.24 per share and revenue of $352.04 billion. These results would represent year-over-year changes of -34.28% and -14.9%, respectively.
It is also important to note the recent changes to analyst estimates for Exxon Mobil. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.79% lower. Exxon Mobil currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Exxon Mobil is currently trading at a Forward P/E ratio of 10.88. This represents a premium compared to its industry's average Forward P/E of 6.75.
We can additionally observe that XOM currently boasts a PEG ratio of 3.63. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.82 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Exxon Mobil Corporation (XOM) : 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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Heading into today, shares of the oil and natural gas company had lost 3.62% over the past month, lagging the Oils-Energy sector's loss of 3.15% and the S&P 500's gain of 5.08% in that time. In the meantime, our current consensus estimate forecasts the revenue to be $92.85 billion, indicating a 2.71% decline compared to the corresponding quarter of the prior year. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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Heading into today, shares of the oil and natural gas company had lost 3.62% over the past month, lagging the Oils-Energy sector's loss of 3.15% and the S&P 500's gain of 5.08% in that time. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.82 at yesterday's closing price. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Exxon Mobil currently has a Zacks Rank of #3 (Hold). This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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9e80cff8-e5e6-4d89-9f35-1b9be2231886
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714384.0
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2023-12-06 00:00:00 UTC
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Procter & Gamble (PG) Stock Moves -0.07%: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/procter-gamble-pg-stock-moves-0.07%3A-what-you-should-know
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nan
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nan
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Procter & Gamble (PG) closed the most recent trading day at $146.65, moving -0.07% from the previous trading session. This change was narrower than the S&P 500's 0.39% loss on the day. Elsewhere, the Dow saw a downswing of 0.19%, while the tech-heavy Nasdaq depreciated by 0.59%.
The world's largest consumer products maker's shares have seen a decrease of 2.54% over the last month, not keeping up with the Consumer Staples sector's gain of 2.27% and the S&P 500's gain of 5.08%.
Investors will be eagerly watching for the performance of Procter & Gamble in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.71, indicating a 7.55% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.81 billion, up 4.97% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.42 per share and a revenue of $85.27 billion, representing changes of +8.81% and +3.98%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Procter & Gamble. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. Procter & Gamble is currently a Zacks Rank #2 (Buy).
In the context of valuation, Procter & Gamble is at present trading with a Forward P/E ratio of 22.84. This denotes no noticeable deviation relative to the industry's average Forward P/E of 22.84.
We can also see that PG currently has a PEG ratio of 3.04. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Soap and Cleaning Materials industry currently had an average PEG ratio of 3.2 as of yesterday's close.
The Soap and Cleaning Materials industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 12, finds itself in the top 5% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PG in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Procter & Gamble Company (The) (PG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Procter & Gamble (PG) closed the most recent trading day at $146.65, moving -0.07% from the previous trading session. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.42 per share and a revenue of $85.27 billion, representing changes of +8.81% and +3.98%, respectively, from the prior year. Click to get this free report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This industry, currently bearing a Zacks Industry Rank of 12, finds itself in the top 5% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Click to get this free report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Procter & Gamble is currently a Zacks Rank #2 (Buy). This industry, currently bearing a Zacks Industry Rank of 12, finds itself in the top 5% echelons of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4b20dadb-cc21-404e-84bc-5178b923b66d
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714385.0
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2023-12-06 00:00:00 UTC
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Oxford Industries (OXM) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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DCOMP
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https://www.nasdaq.com/articles/oxford-industries-oxm-q3-earnings%3A-how-key-metrics-compare-to-wall-street-estimates
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nan
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nan
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For the quarter ended October 2023, Oxford Industries (OXM) reported revenue of $326.63 million, up 4.3% over the same period last year. EPS came in at $1.01, compared to $1.46 in the year-ago quarter.
The reported revenue represents a surprise of +0.29% over the Zacks Consensus Estimate of $325.7 million. With the consensus EPS estimate being $0.97, the EPS surprise was +4.12%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Oxford Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Emerging Brands: $31.20 million versus the three-analyst average estimate of $27.91 million.
Net Sales- Johnny Was: $49.10 million versus $51.17 million estimated by three analysts on average.
Net Sales- Tommy Bahama: $170.10 million versus the three-analyst average estimate of $163.48 million. The reported number represents a year-over-year change of -4.8%.
Net Sales- Lilly Pulitzer: $76.30 million versus $80.75 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -9.3% change.
Net Sales- Corporate and Other: -$0.10 million versus the two-analyst average estimate of $0.80 million. The reported number represents a year-over-year change of -112.5%.
View all Key Company Metrics for Oxford Industries here>>>
Shares of Oxford Industries have returned +2.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Oxford Industries, Inc. (OXM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Oxford Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Emerging Brands: $31.20 million versus the three-analyst average estimate of $27.91 million. Click to get this free report Oxford Industries, Inc. (OXM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Here is how Oxford Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Emerging Brands: $31.20 million versus the three-analyst average estimate of $27.91 million. Net Sales- Johnny Was: $49.10 million versus $51.17 million estimated by three analysts on average. Click to get this free report Oxford Industries, Inc. (OXM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The reported revenue represents a surprise of +0.29% over the Zacks Consensus Estimate of $325.7 million. Here is how Oxford Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Sales- Emerging Brands: $31.20 million versus the three-analyst average estimate of $27.91 million. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4b3c23cb-a46a-4ba7-b555-0334933f7394
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714386.0
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2023-12-06 00:00:00 UTC
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Lovesac (LOVE) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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https://www.nasdaq.com/articles/lovesac-love-q3-earnings%3A-how-key-metrics-compare-to-wall-street-estimates
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For the quarter ended October 2023, Lovesac (LOVE) reported revenue of $154.04 million, up 14.3% over the same period last year. EPS came in at -$0.15, compared to -$0.55 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $153.67 million, representing a surprise of +0.24%. The company delivered an EPS surprise of +51.61%, with the consensus EPS estimate being -$0.31.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Lovesac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ending Showroom Count: 230 versus 229 estimated by two analysts on average.
Comparable showroom sales: 2% versus the two-analyst average estimate of 12.5%.
Net Sales- Other: $15.35 million versus $13.73 million estimated by two analysts on average.
Net Sales- Internet: $40.02 million versus $38.73 million estimated by two analysts on average.
Net Sales- Showrooms: $98.66 million compared to the $101.26 million average estimate based on two analysts.
View all Key Company Metrics for Lovesac here>>>
Shares of Lovesac have returned +20.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Lovesac Company (LOVE) : 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.
|
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Here is how Lovesac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Ending Showroom Count: 230 versus 229 estimated by two analysts on average. Net Sales- Internet: $40.02 million versus $38.73 million estimated by two analysts on average. Net Sales- Showrooms: $98.66 million compared to the $101.26 million average estimate based on two analysts.
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Here is how Lovesac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Ending Showroom Count: 230 versus 229 estimated by two analysts on average. Net Sales- Internet: $40.02 million versus $38.73 million estimated by two analysts on average. Net Sales- Showrooms: $98.66 million compared to the $101.26 million average estimate based on two analysts.
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Here is how Lovesac performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Ending Showroom Count: 230 versus 229 estimated by two analysts on average. Net Sales- Internet: $40.02 million versus $38.73 million estimated by two analysts on average. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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d314b331-469c-4d5a-b85d-7c29bb8615a5
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714387.0
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2023-12-06 00:00:00 UTC
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Australian shares retreat from 2-month high as financials weigh
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https://www.nasdaq.com/articles/australian-shares-retreat-from-2-month-high-as-financials-weigh
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Dec 7 (Reuters) - Australian shares retreated on Thursday from a two-month high clocked in the previous session, with financials and energy stocks weighing the most, even as investors were hopeful to an end to the central bank's monetary policy tightening.
The S&P/ASX 200 index .AXJO was down 0.2% at 7,167.50 points, as of 2330 GMT. The benchmark closed 1.7% higher on Wednesday.
Data from the Australian Bureau of Statistics on Wednesday showed that real gross domestic product (GDP) rose 0.2% in the September quarter, short of the 0.4% estimate and the slowest growth in a year.
Softness in GDP growth over the past two quarters is of more importance, which reflects a broader slowing in the economy to a below trend pace of growth, analysts at ANZ wrote on Wednesday.
ANZ analysts view the economic growth data "as adding to the case that the cash rate will remain at 4.35% for some time."
Heavyweight financials .AXFJ were leading the losses in the benchmark with a 0.6% drop, with ANZ Group ANZ.AX and National Australia Bank NAB.AX down 0.5% each.
Energy stocks .AXEJ fell 1.6%, hitting their lowest level since Sept. 26, 2022, as oil prices dropped on increased worries over global fuel demand. O/R
Shares of Woodside Energy WDS.AX and Santos STO.AX fell 2.9% and 1.9%, respectively.
Gold stocks .AXGD slipped 0.6%, with Northern Star Resources NST.AX down 0.8%, while Evolution Mining EVN.AX fell 0.14%.
Bucking the trend, the metals and mining index .AXMM rose 0.6%, tracking higher global iron ore prices on positive economic data and strong demand. IRONORE/
Mining behemoths Fortescue FMG.AX and Rio Tinto RIO.AX dropped 1.5% and 1%, respectively.
In company news, BHP Group appointed Vandita Pant as its new chief financial officer. Shares of the miner were flat.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was listless at 11,453.71 points.
Shares of Fonterra Co-operative FCG.NZ jumped nearly 1% as the dairy company increased its fiscal 2024 earnings and farmgate milk price forecasts on Thursday.
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Sherry Jacob-Phillips)
((Adwitiya.Srivastava@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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Dec 7 (Reuters) - Australian shares retreated on Thursday from a two-month high clocked in the previous session, with financials and energy stocks weighing the most, even as investors were hopeful to an end to the central bank's monetary policy tightening. Data from the Australian Bureau of Statistics on Wednesday showed that real gross domestic product (GDP) rose 0.2% in the September quarter, short of the 0.4% estimate and the slowest growth in a year. Bucking the trend, the metals and mining index .AXMM rose 0.6%, tracking higher global iron ore prices on positive economic data and strong demand.
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ANZ analysts view the economic growth data "as adding to the case that the cash rate will remain at 4.35% for some time." Energy stocks .AXEJ fell 1.6%, hitting their lowest level since Sept. 26, 2022, as oil prices dropped on increased worries over global fuel demand. Bucking the trend, the metals and mining index .AXMM rose 0.6%, tracking higher global iron ore prices on positive economic data and strong demand.
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Dec 7 (Reuters) - Australian shares retreated on Thursday from a two-month high clocked in the previous session, with financials and energy stocks weighing the most, even as investors were hopeful to an end to the central bank's monetary policy tightening. Energy stocks .AXEJ fell 1.6%, hitting their lowest level since Sept. 26, 2022, as oil prices dropped on increased worries over global fuel demand. Bucking the trend, the metals and mining index .AXMM rose 0.6%, tracking higher global iron ore prices on positive economic data and strong demand.
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ANZ analysts view the economic growth data "as adding to the case that the cash rate will remain at 4.35% for some time." Energy stocks .AXEJ fell 1.6%, hitting their lowest level since Sept. 26, 2022, as oil prices dropped on increased worries over global fuel demand. New Zealand's benchmark S&P/NZX 50 index .NZ50 was listless at 11,453.71 points.
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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: COF, CAR, WMT
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-cof-car-wmt
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Capital One Financial Corp (Symbol: COF), where a total volume of 24,293 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 102.8% of COF's average daily trading volume over the past month, of 2.4 million shares. Particularly high volume was seen for the $130 strike call option expiring January 19, 2024, with 5,216 contracts trading so far today, representing approximately 521,600 underlying shares of COF. Below is a chart showing COF's trailing twelve month trading history, with the $130 strike highlighted in orange:
Avis Budget Group Inc (Symbol: CAR) saw options trading volume of 3,799 contracts, representing approximately 379,900 underlying shares or approximately 101.8% of CAR's average daily trading volume over the past month, of 373,185 shares. Especially high volume was seen for the $200 strike call option expiring January 19, 2024, with 700 contracts trading so far today, representing approximately 70,000 underlying shares of CAR. Below is a chart showing CAR's trailing twelve month trading history, with the $200 strike highlighted in orange:
And Walmart Inc (Symbol: WMT) saw options trading volume of 93,513 contracts, representing approximately 9.4 million underlying shares or approximately 100.1% of WMT's average daily trading volume over the past month, of 9.3 million shares. Especially high volume was seen for the $155 strike call option expiring December 15, 2023, with 7,997 contracts trading so far today, representing approximately 799,700 underlying shares of WMT. Below is a chart showing WMT's trailing twelve month trading history, with the $155 strike highlighted in orange:
For the various different available expirations for COF options, CAR options, or WMT options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
GHVI YTD Return
MOAT Average Annual Return
AMTX 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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Particularly high volume was seen for the $130 strike call option expiring January 19, 2024, with 5,216 contracts trading so far today, representing approximately 521,600 underlying shares of COF. Especially high volume was seen for the $200 strike call option expiring January 19, 2024, with 700 contracts trading so far today, representing approximately 70,000 underlying shares of CAR. Especially high volume was seen for the $155 strike call option expiring December 15, 2023, with 7,997 contracts trading so far today, representing approximately 799,700 underlying shares of WMT.
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Particularly high volume was seen for the $130 strike call option expiring January 19, 2024, with 5,216 contracts trading so far today, representing approximately 521,600 underlying shares of COF. Below is a chart showing COF's trailing twelve month trading history, with the $130 strike highlighted in orange: Avis Budget Group Inc (Symbol: CAR) saw options trading volume of 3,799 contracts, representing approximately 379,900 underlying shares or approximately 101.8% of CAR's average daily trading volume over the past month, of 373,185 shares. Below is a chart showing CAR's trailing twelve month trading history, with the $200 strike highlighted in orange: And Walmart Inc (Symbol: WMT) saw options trading volume of 93,513 contracts, representing approximately 9.4 million underlying shares or approximately 100.1% of WMT's average daily trading volume over the past month, of 9.3 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Capital One Financial Corp (Symbol: COF), where a total volume of 24,293 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing COF's trailing twelve month trading history, with the $130 strike highlighted in orange: Avis Budget Group Inc (Symbol: CAR) saw options trading volume of 3,799 contracts, representing approximately 379,900 underlying shares or approximately 101.8% of CAR's average daily trading volume over the past month, of 373,185 shares. Below is a chart showing CAR's trailing twelve month trading history, with the $200 strike highlighted in orange: And Walmart Inc (Symbol: WMT) saw options trading volume of 93,513 contracts, representing approximately 9.4 million underlying shares or approximately 100.1% of WMT's average daily trading volume over the past month, of 9.3 million shares.
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Below is a chart showing COF's trailing twelve month trading history, with the $130 strike highlighted in orange: Avis Budget Group Inc (Symbol: CAR) saw options trading volume of 3,799 contracts, representing approximately 379,900 underlying shares or approximately 101.8% of CAR's average daily trading volume over the past month, of 373,185 shares. Especially high volume was seen for the $200 strike call option expiring January 19, 2024, with 700 contracts trading so far today, representing approximately 70,000 underlying shares of CAR. Below is a chart showing CAR's trailing twelve month trading history, with the $200 strike highlighted in orange: And Walmart Inc (Symbol: WMT) saw options trading volume of 93,513 contracts, representing approximately 9.4 million underlying shares or approximately 100.1% of WMT's average daily trading volume over the past month, of 9.3 million shares.
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2023-12-06 00:00:00 UTC
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3 Russell 2000 Stock Gems That Are Beating Expectations
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https://www.nasdaq.com/articles/3-russell-2000-stock-gems-that-are-beating-expectations
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
After a November rally, December is off to a slow start. With earnings season winding down and investors engaging in tax-loss harvesting and profit-taking, the next opportunity for stocks will likely be a January effect. But will that rally broaden out to include Russell 2000 stocks? Certainly, that would be welcome news to many small-cap investors.
The Russell 2000 focuses on smaller companies. Typically, this means that there is a level of volatility with these stocks. Historically, small-cap stocks lead market rallies. With this in mind, they are likely to be where the most significant growth will come from if the market rally expands in 2024.
Investing in Russell 2000 stocks is not for investors with a low-risk tolerance. In fact, it’s best if these stocks only make up a small portion of your portfolio. But if you have an appetite for risk, here are three Russell 2000 stocks that are outperforming the market now — and look primed to do so in the future.
Holley (HLLY)
Source: Pixel B / Shutterstock.com
Many Russell 2000 stocks include under-the-radar companies, and Holley (NYSE:HLLY) fits that description. The company manufactures and distributes high-performance autoparts for car and truck enthusiasts. To be clear: this is not your weekend do-it-yourself market. It’s a company that’s in touch with an audience that is looking to get the most from their modern or classic cars.
The stock is up 98% in 2023, and there are strong fundamentals that back that growth up. The company just recorded its third consecutive profitable quarter. Also in that quarter, the company reported strong year-over-year growth in net sales, gross margin, adjusted EBITDA, and free cash flow.
Holley has a $500 million market cap as of this writing. This is a small company, and the price movement is likely to be volatile. But if you have an appetite for risk, HLLY stock may be a nice fit. For those that place stock in such things, the company’s CEO recently purchased 25,000 shares of HLLY stock bringing his total stake in the company to 2%.
Wingstop (WING)
Source: Ken Wolter / Shutterstock.com
In a year when many restaurant stocks are facing difficult comps to 2022, Wingstop (NASDAQ:WING) stands out. In its most recent quarter, Wingstop beat revenue and earnings on the top and bottom lines. Not surprisingly, WING stock is up 18% in the month since that earnings report.
The numbers were even more impressive on a year-over-year basis. Revenue was up 26% compared to the same period in 2022, and earnings were up even more at approximately 60%. The company also continues to deliver year-over-year same-store sales growth.
With that said, WING stock is up 78% in 2023. Now around $244, the stock is trading above the consensus price target of 17 analysts that have issued a price target in the last three months.
Analysts are expecting growth to come from international markets. That will take time to be reflected in the company’s numbers. That means it wouldn’t be unheard of for WING stock to experience a sharp pullback, but that looks like a buyable dip.
Uranium Energy (UEC)
Source: shutterstock.com/RHJPhtotoandilustration
The clean energy revolution is facing the harsh realities of global macroeconomics. Many clean energy stocks have significantly underperformed the market in 2023. Luckily, Uranium Energy (NYSEAMERICAN:UEC) is a notable exception. UEC stock is up 73% in 2023 including 13% in the 30 days ending December 4, 2023.
The catalyst is a spike in the spot price of uranium. At $81 per pound as of this writing, uranium is valued at levels that investors haven’t seen since 2008. The shift to clean energy is beginning to include nuclear energy. And this is creating a supply-demand imbalance which is bullish for prices to go higher.
Fundamentally, Uranium Energy has no debt, but it also has yet to mine for any uranium. Prior to uranium’s recent surge, uranium prices were stagnant which made it inefficient to mine. If uranium prices stabilize, that dynamic will change and Uranium Energy would be a beneficiary. As evidence of that, the company recently entered a memorandum of understanding (MOU) with Wyoming-based TerraPower to supply uranium to the company’s first-of-its-kind Natrium reactor and energy storage system.
UEC stock is trading at its highest level since 2011. The consensus price target of analysts only suggests a 5% increase in the stock price. However, the long-term outlook for uranium makes the stock one of the Russell 2000 stocks to watch closely.
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 Russell 2000 Stock Gems That Are Beating Expectations 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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Also in that quarter, the company reported strong year-over-year growth in net sales, gross margin, adjusted EBITDA, and free cash flow. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Russell 2000 Stock Gems That Are Beating Expectations appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips After a November rally, December is off to a slow start. Holley (HLLY) Source: Pixel B / Shutterstock.com Many Russell 2000 stocks include under-the-radar companies, and Holley (NYSE:HLLY) fits that description. In its most recent quarter, Wingstop beat revenue and earnings on the top and bottom lines.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips After a November rally, December is off to a slow start. For those that place stock in such things, the company’s CEO recently purchased 25,000 shares of HLLY stock bringing his total stake in the company to 2%. However, the long-term outlook for uranium makes the stock one of the Russell 2000 stocks to watch closely.
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But will that rally broaden out to include Russell 2000 stocks? Not surprisingly, WING stock is up 18% in the month since that earnings report. Fundamentally, Uranium Energy has no debt, but it also has yet to mine for any uranium.
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2023-12-06 00:00:00 UTC
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Chevron increases project spending budget 11% for 2024
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https://www.nasdaq.com/articles/chevron-increases-project-spending-budget-11-for-2024
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By Sabrina Valle
Dec 6 (Reuters) - Oil major Chevron Corp CVX.N said on Wednesday that it expects to spend between $18.5 billion and $19.5 billion next year on new oil and gas projects, an 11% increased compared to this year.
Its 2024 budget and that of Exxon Mobil reflect the industry's continuing rebound after pandemic-influenced pullbacks last decade, recent acquisitions and carbon reduction initiatives. Exxon outlined its plan to spend between $22 billion and $27 billion annually through 2027.
While both are spending more, the combined sums are less than half the combined $84 billion Exxon and Chevron spent in 2013, when oil prices often traded above $100 per barrel. The two are benefiting from higher energy prices and pandemic cost-cuts.
Chevron's figure excludes any impact from its proposed acquisition of rival Hess Corp HES.N. That deal, which is expected to close next year, will push capital expenditures to between $19 billion and $22 billion, it said.
Chevron in October agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil's XOM.N massive Guyana offshore oil discoveries.
Wednesday's disclosures did not include a new forecast for oil production next year. Chevron previously said the two deals would bring total oil and gas output to about 3.7 million barrels per day.
Chevron plans to spend about $9 billion of its current budget in the U.S., as oil companies move investments to the Americas to reduce costs and pare geopolitical risks.
Of the total projected budget, about $5 billion will be devoted to its fast-growing Permian shale production operation, and another $1.5 billion to other shale and tight oil businesses. The shale and tight oil spending increases reflect its acquisition of PDC Energy earlier this year.
Projects in the Gulf of Mexico will take up about $3.5 billion, with production from a new oil platform, Anchor, expected to start next year.About 80% of its expenditures next year on refining and chemicals will also be in the U.S., it said.
The company intends to increase share repurchases by $2.5 billion to the top end of its guidance range of $20 billion per year once the Hess deal closes.
Nearly half of a $3 billion budget for its affiliates are planned for the company's Tengizchevroil project in Kazakhstan, it said.
(Reporting by Arunima Kumar in Bengaluru and Sabrina Vale in Houston; Editing by Shailesh Kuber)
((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))
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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Its 2024 budget and that of Exxon Mobil reflect the industry's continuing rebound after pandemic-influenced pullbacks last decade, recent acquisitions and carbon reduction initiatives. Chevron plans to spend about $9 billion of its current budget in the U.S., as oil companies move investments to the Americas to reduce costs and pare geopolitical risks. Projects in the Gulf of Mexico will take up about $3.5 billion, with production from a new oil platform, Anchor, expected to start next year.About 80% of its expenditures next year on refining and chemicals will also be in the U.S., it said.
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By Sabrina Valle Dec 6 (Reuters) - Oil major Chevron Corp CVX.N said on Wednesday that it expects to spend between $18.5 billion and $19.5 billion next year on new oil and gas projects, an 11% increased compared to this year. While both are spending more, the combined sums are less than half the combined $84 billion Exxon and Chevron spent in 2013, when oil prices often traded above $100 per barrel. The shale and tight oil spending increases reflect its acquisition of PDC Energy earlier this year.
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By Sabrina Valle Dec 6 (Reuters) - Oil major Chevron Corp CVX.N said on Wednesday that it expects to spend between $18.5 billion and $19.5 billion next year on new oil and gas projects, an 11% increased compared to this year. Chevron in October agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil's XOM.N massive Guyana offshore oil discoveries. Of the total projected budget, about $5 billion will be devoted to its fast-growing Permian shale production operation, and another $1.5 billion to other shale and tight oil businesses.
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By Sabrina Valle Dec 6 (Reuters) - Oil major Chevron Corp CVX.N said on Wednesday that it expects to spend between $18.5 billion and $19.5 billion next year on new oil and gas projects, an 11% increased compared to this year. Exxon outlined its plan to spend between $22 billion and $27 billion annually through 2027. The shale and tight oil spending increases reflect its acquisition of PDC Energy earlier this year.
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2023-12-06 00:00:00 UTC
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Truist Financial Corporation (TFC) Stock Moves -0.33%: What You Should Know
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https://www.nasdaq.com/articles/truist-financial-corporation-tfc-stock-moves-0.33%3A-what-you-should-know
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In the latest trading session, Truist Financial Corporation (TFC) closed at $33.04, marking a -0.33% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
The company's shares have seen an increase of 8.62% over the last month, surpassing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08%.
Analysts and investors alike will be keeping a close eye on the performance of Truist Financial Corporation in its upcoming earnings disclosure. The company's earnings report is set to go public on January 18, 2024. On that day, Truist Financial Corporation is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 32.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.63 billion, down 9.25% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.76 per share and revenue of $24.61 billion, indicating changes of -24.19% and +6.84%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Truist Financial Corporation should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.2% higher. Truist Financial Corporation is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Truist Financial Corporation is at present trading with a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average Forward P/E of 9.13.
It's also important to note that TFC currently trades at a PEG ratio of 1.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Banks - Major Regional industry stood at 1.47 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Truist Financial Corporation (TFC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the latest trading session, Truist Financial Corporation (TFC) closed at $33.04, marking a -0.33% move from the previous day. Analysts and investors alike will be keeping a close eye on the performance of Truist Financial Corporation in its upcoming earnings disclosure. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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In the latest trading session, Truist Financial Corporation (TFC) closed at $33.04, marking a -0.33% move from the previous day. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Click to get this free report Truist Financial Corporation (TFC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Click to get this free report Truist Financial Corporation (TFC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the latest trading session, Truist Financial Corporation (TFC) closed at $33.04, marking a -0.33% move from the previous day. On that day, Truist Financial Corporation is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 32.31%. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
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3e77cb2d-e1f6-440c-8dc7-46046a4a19ca
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714392.0
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2023-12-06 00:00:00 UTC
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Ericsson (ERIC) Increases Despite Market Slip: Here's What You Need to Know
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DCOMP
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https://www.nasdaq.com/articles/ericsson-eric-increases-despite-market-slip%3A-heres-what-you-need-to-know
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nan
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nan
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In the latest market close, Ericsson (ERIC) reached $5.55, with a +1.65% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
Heading into today, shares of the telecommunications equipment provider had gained 18.44% over the past month, outpacing the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08% in that time.
The investment community will be closely monitoring the performance of Ericsson in its forthcoming earnings report. The company is forecasted to report an EPS of $0.14, showcasing a 30% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $7.06 billion, reflecting a 12.04% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.15 per share and a revenue of $24.96 billion, demonstrating changes of -75.41% and -6.64%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Ericsson. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.32% upward. Right now, Ericsson possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Ericsson is holding a Forward P/E ratio of 35.46. Its industry sports an average Forward P/E of 14.37, so one might conclude that Ericsson is trading at a premium comparatively.
Meanwhile, ERIC's PEG ratio is currently 17.38. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.26 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ericsson (ERIC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Heading into today, shares of the telecommunications equipment provider had gained 18.44% over the past month, outpacing the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08% in that time. For the full year, the Zacks Consensus Estimates project earnings of $0.15 per share and a revenue of $24.96 billion, demonstrating changes of -75.41% and -6.64%, respectively, from the preceding year. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.26 based on yesterday's closing prices.
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With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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At the same time, our most recent consensus estimate is projecting a revenue of $7.06 billion, reflecting a 12.04% fall from the equivalent quarter last year. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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29578f42-9056-4621-ad4b-35d8632f6124
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714393.0
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2023-12-06 00:00:00 UTC
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Pfizer (PFE) Declines More Than Market: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/pfizer-pfe-declines-more-than-market%3A-some-information-for-investors
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nan
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nan
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Pfizer (PFE) closed at $28.79 in the latest trading session, marking a -1.03% move from the prior day. This change lagged the S&P 500's 0.39% loss on the day. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Prior to today's trading, shares of the drugmaker had lost 6.91% over the past month. This has lagged the Medical sector's gain of 3.38% and the S&P 500's gain of 5.08% in that time.
The investment community will be closely monitoring the performance of Pfizer in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.16, marking a 114.04% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $14.58 billion, indicating a 39.98% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.54 per share and a revenue of $58.83 billion, demonstrating changes of -76.6% and -41.37%, respectively, from the preceding year.
Any recent changes to analyst estimates for Pfizer should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1% decrease. Right now, Pfizer possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Pfizer is at present trading with a Forward P/E ratio of 18.85. For comparison, its industry has an average Forward P/E of 15.73, which means Pfizer is trading at a premium to the group.
We can additionally observe that PFE currently boasts a PEG ratio of 1.88. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 2.03.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pfizer Inc. (PFE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Meanwhile, the latest consensus estimate predicts the revenue to be $14.58 billion, indicating a 39.98% decrease compared to the same quarter of the previous year. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Meanwhile, the latest consensus estimate predicts the revenue to be $14.58 billion, indicating a 39.98% decrease compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates project earnings of $1.54 per share and a revenue of $58.83 billion, demonstrating changes of -76.6% and -41.37%, respectively, from the preceding year. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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Pfizer (PFE) closed at $28.79 in the latest trading session, marking a -1.03% move from the prior day. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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fe6a1056-699a-4047-8b5d-dd837cd408c4
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714394.0
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2023-12-06 00:00:00 UTC
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Greif (GEF) Q4 Earnings Surpass Estimates
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DCOMP
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https://www.nasdaq.com/articles/greif-gef-q4-earnings-surpass-estimates
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nan
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nan
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Greif (GEF) came out with quarterly earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.83 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this industrial packaging company would post earnings of $1.56 per share when it actually produced earnings of $1.75, delivering a surprise of 12.18%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Greif, which belongs to the Zacks Containers - Paper and Packaging industry, posted revenues of $1.31 billion for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.23%. This compares to year-ago revenues of $1.5 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Greif shares have added about 4.7% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Greif?
While Greif has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Greif: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.24 on $1.18 billion in revenues for the coming quarter and $5.85 on $5.36 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Containers - Paper and Packaging is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
MSC Industrial (MSM), another stock in the broader Zacks Industrial Products sector, has yet to report results for the quarter ended November 2023.
This distributor of industrial tools and supplies is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of -11.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
MSC Industrial's revenues are expected to be $972.11 million, up 1.5% from the year-ago quarter.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Greif, Inc. (GEF) : Free Stock Analysis Report
MSC Industrial Direct Company, Inc. (MSM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. This distributor of industrial tools and supplies is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of -11.5%.
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Greif, which belongs to the Zacks Containers - Paper and Packaging industry, posted revenues of $1.31 billion for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.23%. The current consensus EPS estimate is $1.24 on $1.18 billion in revenues for the coming quarter and $5.85 on $5.36 billion in revenues for the current fiscal year. Click to get this free report Greif, Inc. (GEF) : Free Stock Analysis Report MSC Industrial Direct Company, Inc. (MSM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Greif (GEF) came out with quarterly earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.30 per share. Greif, which belongs to the Zacks Containers - Paper and Packaging industry, posted revenues of $1.31 billion for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.23%. Click to get this free report Greif, Inc. (GEF) : Free Stock Analysis Report MSC Industrial Direct Company, Inc. (MSM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Greif (GEF) came out with quarterly earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.30 per share. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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c6adc81e-6616-4408-bcf8-7f7781b1ba98
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714395.0
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2023-12-06 00:00:00 UTC
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Braze, Inc. (BRZE) Reports Q3 Loss, Tops Revenue Estimates
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DCOMP
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https://www.nasdaq.com/articles/braze-inc.-brze-reports-q3-loss-tops-revenue-estimates-0
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nan
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nan
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Braze, Inc. (BRZE) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 61.54%. A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.04, delivering a surprise of 71.43%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Braze, Inc., which belongs to the Zacks Technology Services industry, posted revenues of $123.96 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 5.89%. This compares to year-ago revenues of $93.13 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Braze, Inc. Shares have added about 108.3% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Braze, Inc.
While Braze, Inc. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Braze, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.07 on $119.31 million in revenues for the coming quarter and -$0.38 on $453.4 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Veradigm (MDRX), another stock in the same industry, has yet to report results for the quarter ended September 2023.
This electronic health records company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -4.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Veradigm's revenues are expected to be $160.23 million, up 5.5% from the year-ago quarter.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Braze, Inc. (BRZE) : Free Stock Analysis Report
Veradigm Inc. (MDRX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. This electronic health records company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -4.4%. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Braze, Inc., which belongs to the Zacks Technology Services industry, posted revenues of $123.96 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 5.89%. The current consensus EPS estimate is -$0.07 on $119.31 million in revenues for the coming quarter and -$0.38 on $453.4 million in revenues for the current fiscal year. Click to get this free report Braze, Inc. (BRZE) : Free Stock Analysis Report Veradigm Inc. (MDRX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Braze, Inc., which belongs to the Zacks Technology Services industry, posted revenues of $123.96 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 5.89%. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Click to get this free report Braze, Inc. (BRZE) : Free Stock Analysis Report Veradigm Inc. (MDRX) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. In terms of the Zacks Industry Rank, Technology Services is currently in the top 35% of the 250 plus Zacks industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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9b9ce9f6-974c-48b7-8390-f24d46b67abc
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714396.0
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2023-12-06 00:00:00 UTC
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Air Industries (AIRI) Reports Q3 Loss, Tops Revenue Estimates
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DCOMP
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https://www.nasdaq.com/articles/air-industries-airi-reports-q3-loss-tops-revenue-estimates
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nan
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nan
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Air Industries (AIRI) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -150%. A quarter ago, it was expected that this maker of parts for the aerospace industry and defense contractors would post earnings of $0.03 per share when it actually produced a loss of $0.12, delivering a surprise of -500%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Air Industries, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $12.29 million for the quarter ended September 2023, surpassing the Zacks Consensus Estimate by 0.35%. This compares to year-ago revenues of $13.28 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Air Industries shares have lost about 30% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Air Industries?
While Air Industries has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Air Industries: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $14 million in revenues for the coming quarter and -$0.55 on $52 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Aerospace sector, Heico Corporation (HEI), is yet to report results for the quarter ended October 2023.
This company is expected to post quarterly earnings of $0.69 per share in its upcoming report, which represents a year-over-year change of -1.4%. The consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level.
Heico Corporation's revenues are expected to be $899.21 million, up 47.5% from the year-ago quarter.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Air Industries Group (AIRI) : Free Stock Analysis Report
Heico Corporation (HEI) : 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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A quarter ago, it was expected that this maker of parts for the aerospace industry and defense contractors would post earnings of $0.03 per share when it actually produced a loss of $0.12, delivering a surprise of -500%. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. One other stock from the broader Zacks Aerospace sector, Heico Corporation (HEI), is yet to report results for the quarter ended October 2023.
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Air Industries, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $12.29 million for the quarter ended September 2023, surpassing the Zacks Consensus Estimate by 0.35%. The current consensus EPS estimate is -$0.08 on $14 million in revenues for the coming quarter and -$0.55 on $52 million in revenues for the current fiscal year. Click to get this free report Air Industries Group (AIRI) : Free Stock Analysis Report Heico Corporation (HEI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Air Industries (AIRI) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.16. Air Industries, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $12.29 million for the quarter ended September 2023, surpassing the Zacks Consensus Estimate by 0.35%. Click to get this free report Air Industries Group (AIRI) : Free Stock Analysis Report Heico Corporation (HEI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Air Industries, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $12.29 million for the quarter ended September 2023, surpassing the Zacks Consensus Estimate by 0.35%. The company has topped consensus revenue estimates just once over the last four quarters. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock.
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97bd7586-d700-4ad5-91af-6644241adfe5
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714397.0
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2023-12-06 00:00:00 UTC
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Pet products retailer Chewy cuts annual sales forecast, appoints new CFO
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DCOMP
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https://www.nasdaq.com/articles/pet-products-retailer-chewy-cuts-annual-sales-forecast-appoints-new-cfo
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nan
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nan
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Adds details on results
Dec 6 (Reuters) - Chewy CHWY.N on Wednesday cut its annual sales forecast on weakening demand for pet products, and named David Reeder as its chief financial officer.
Shares of Chewy slid 9.20% in extended trading after the company said it now expects annual net sales between $11.08 billion and $11.10 billion, down from $11.15 billion to $11.35 billion it forecast previously.
The company has been grappling with softening sales as inflation-hit customers trade down from wet pet food to dry pet food.
Reeder will join Chewy next year February and replace interim CFO Stacy Bowman who will continue to serve as chief accounting officer.
Reeder has most recently served as CFO at GlobalFoundries GFS.O and was the CEO of Tower Hill Insurance Group before that.
(Reporting by Annett Mary Manoj; Editing by Shailesh Kuber and Shinjini Ganguli)
((AnnettMary.Manoj@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details on results Dec 6 (Reuters) - Chewy CHWY.N on Wednesday cut its annual sales forecast on weakening demand for pet products, and named David Reeder as its chief financial officer. Reeder will join Chewy next year February and replace interim CFO Stacy Bowman who will continue to serve as chief accounting officer. Reeder has most recently served as CFO at GlobalFoundries GFS.O and was the CEO of Tower Hill Insurance Group before that.
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Adds details on results Dec 6 (Reuters) - Chewy CHWY.N on Wednesday cut its annual sales forecast on weakening demand for pet products, and named David Reeder as its chief financial officer. Shares of Chewy slid 9.20% in extended trading after the company said it now expects annual net sales between $11.08 billion and $11.10 billion, down from $11.15 billion to $11.35 billion it forecast previously. The company has been grappling with softening sales as inflation-hit customers trade down from wet pet food to dry pet food.
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Adds details on results Dec 6 (Reuters) - Chewy CHWY.N on Wednesday cut its annual sales forecast on weakening demand for pet products, and named David Reeder as its chief financial officer. Shares of Chewy slid 9.20% in extended trading after the company said it now expects annual net sales between $11.08 billion and $11.10 billion, down from $11.15 billion to $11.35 billion it forecast previously. (Reporting by Annett Mary Manoj; Editing by Shailesh Kuber and Shinjini Ganguli) ((AnnettMary.Manoj@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details on results Dec 6 (Reuters) - Chewy CHWY.N on Wednesday cut its annual sales forecast on weakening demand for pet products, and named David Reeder as its chief financial officer. Shares of Chewy slid 9.20% in extended trading after the company said it now expects annual net sales between $11.08 billion and $11.10 billion, down from $11.15 billion to $11.35 billion it forecast previously. The company has been grappling with softening sales as inflation-hit customers trade down from wet pet food to dry pet food.
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9821d8fa-023b-4142-aeaf-bcd65a2910d4
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714398.0
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2023-12-06 00:00:00 UTC
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Here's What Key Metrics Tell Us About Veeva (VEEV) Q3 Earnings
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DCOMP
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https://www.nasdaq.com/articles/heres-what-key-metrics-tell-us-about-veeva-veev-q3-earnings
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nan
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nan
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For the quarter ended October 2023, Veeva Systems (VEEV) reported revenue of $616.51 million, up 11.6% over the same period last year. EPS came in at $1.34, compared to $1.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $615.88 million, representing a surprise of +0.10%. The company delivered an EPS surprise of +4.69%, with the consensus EPS estimate being $1.28.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Non-GAAP Gross Margin- Subscription services: 85.5% compared to the 85.4% average estimate based on seven analysts.
Non-GAAP Gross Margin- Professional Services and other: 34.1% compared to the 30.7% average estimate based on six analysts.
Revenues- Subscription services: $494.91 million versus the 11-analyst average estimate of $493.70 million. The reported number represents a year-over-year change of +12.1%.
Revenues- Professional services and other: $121.59 million versus the 11-analyst average estimate of $122.08 million. The reported number represents a year-over-year change of +9.8%.
Revenues- Professional services and other- Veeva R&D Solutions: $73.69 million versus the six-analyst average estimate of $74.31 million.
Revenues- Subscription services- Veeva R&D Solutions: $243.75 million compared to the $245.20 million average estimate based on six analysts.
Revenues- Subscription services- Veeva Commercial Solutions: $251.17 million compared to the $247.78 million average estimate based on six analysts.
Revenues- Professional services and other- Veeva Commercial Solutions: $47.90 million versus the six-analyst average estimate of $48.47 million.
View all Key Company Metrics for Veeva here>>>
Shares of Veeva have returned -8.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Veeva Systems Inc. (VEEV) : 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.
|
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
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Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Non-GAAP Gross Margin- Subscription services: 85.5% compared to the 85.4% average estimate based on seven analysts. Revenues- Subscription services- Veeva Commercial Solutions: $251.17 million compared to the $247.78 million average estimate based on six analysts. Revenues- Professional services and other- Veeva Commercial Solutions: $47.90 million versus the six-analyst average estimate of $48.47 million.
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Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Non-GAAP Gross Margin- Subscription services: 85.5% compared to the 85.4% average estimate based on seven analysts. Revenues- Subscription services- Veeva R&D Solutions: $243.75 million compared to the $245.20 million average estimate based on six analysts. Revenues- Subscription services- Veeva Commercial Solutions: $251.17 million compared to the $247.78 million average estimate based on six analysts.
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The reported revenue compares to the Zacks Consensus Estimate of $615.88 million, representing a surprise of +0.10%. Here is how Veeva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Non-GAAP Gross Margin- Subscription services: 85.5% compared to the 85.4% average estimate based on seven analysts. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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9f23556e-3d72-4e42-b739-ddc3c6dc070e
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714399.0
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2023-12-06 00:00:00 UTC
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4 Active REIT ETFs for 2024
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DCOMP
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https://www.nasdaq.com/articles/4-active-reit-etfs-for-2024
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nan
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nan
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Active REIT ETFs are a strong choice for 2024 as they can potentially offer uncorrelated returns to portfolios.
REIT ETFs allow investors to gain exposure to the real estate market via a tax- and cost-efficient, highly liquid vehicle. REIT exposure can help advisors build diversified portfolios and improve risk/return fundamentals for clients.
1. ALPS Active REIT ETF (REIT)
REIT is leading the active REIT ETFs segment by year-to-date returns. The fund is up 6.0% year to date as of December 5.
REIT comprises common equity securities of U.S. REITs but may also include common equity of U.S. real estate operating companies that are not structured as REITs, preferred equity of U.S. REITs, and real estate operating companies, as well as cash and cash equivalents.
The fund’s proprietary methodology gives it an advantage over other funds. In selecting its constituents, REIT considers the intrinsic value of the underlying properties held by REITs as well as the corresponding intrinsic value of the REITs in which the fund seeks to invest.
2. Invesco Active U.S. Real Estate Fund (PSR)
PSR takes second place among the active real estate ETFs, up 2.7% year to date.
The fund offers exposure to REITs within the U.S. equity market. It structures and selects its investments primarily from a universe of securities that are included within the FTSE NAREIT All Equity REITs Index, which has just fewer than 50 holdings diversified primarily across mid- and large-cap equities.
The fund’s selection methodology uses quantitative and statistical metrics to identify attractively priced securities and manage risk
3. Avantis Real Estate ETF (AVRE)
AVRE is slightly lagging PSR, having climbed 2.5% year to date. The ETF invests in global real estate stocks that are expected to have higher returns or better risk characteristics, similar to BLDG.
The fund holds real estate companies across a variety of property sectors, including REITs and REIT-like entities, located in countries included in its benchmark index, the S&P Global REIT Index.
4. Cambria Global Real Estate ETF (BLDG)
BLDG, which has declined 2.8%, is the only fund posting negative returns year to date.
The fund provides global exposure to a basket of real estate securities, including REITs and real estate management and development firms. It allocates 40% of its assets in equities listed outside of the U.S. and targets a total of 50-100 securities with equal weightings.
For more news, information, and analysis, visit the ETF Building Blocks Channel.
Read more on ETFTrends.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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REIT ETFs allow investors to gain exposure to the real estate market via a tax- and cost-efficient, highly liquid vehicle. The fund’s selection methodology uses quantitative and statistical metrics to identify attractively priced securities and manage risk 3. The ETF invests in global real estate stocks that are expected to have higher returns or better risk characteristics, similar to BLDG.
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REIT comprises common equity securities of U.S. REITs but may also include common equity of U.S. real estate operating companies that are not structured as REITs, preferred equity of U.S. REITs, and real estate operating companies, as well as cash and cash equivalents. Invesco Active U.S. Real Estate Fund (PSR) PSR takes second place among the active real estate ETFs, up 2.7% year to date. The fund provides global exposure to a basket of real estate securities, including REITs and real estate management and development firms.
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ALPS Active REIT ETF (REIT) REIT is leading the active REIT ETFs segment by year-to-date returns. REIT comprises common equity securities of U.S. REITs but may also include common equity of U.S. real estate operating companies that are not structured as REITs, preferred equity of U.S. REITs, and real estate operating companies, as well as cash and cash equivalents. The fund provides global exposure to a basket of real estate securities, including REITs and real estate management and development firms.
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REIT comprises common equity securities of U.S. REITs but may also include common equity of U.S. real estate operating companies that are not structured as REITs, preferred equity of U.S. REITs, and real estate operating companies, as well as cash and cash equivalents. The fund offers exposure to REITs within the U.S. equity market. The fund provides global exposure to a basket of real estate securities, including REITs and real estate management and development firms.
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3c5a424e-9ff5-496b-b5dd-8318ac37e157
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