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714400.0
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2023-12-06 00:00:00 UTC
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Oxford Industries (OXM) Q3 Earnings and Revenues Beat Estimates
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DCOMP
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https://www.nasdaq.com/articles/oxford-industries-oxm-q3-earnings-and-revenues-beat-estimates
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Oxford Industries (OXM) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.46 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4.12%. A quarter ago, it was expected that this owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines would post earnings of $3.46 per share when it actually produced earnings of $3.45, delivering a surprise of -0.29%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Oxford Industries, which belongs to the Zacks Textile - Apparel industry, posted revenues of $326.63 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.29%. This compares to year-ago revenues of $313.03 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Oxford Industries shares have lost about 5.7% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Oxford Industries?
While Oxford 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 Oxford 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 $2.23 on $406.23 million in revenues for the coming quarter and $10.38 on $1.57 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, Textile - Apparel is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Lululemon (LULU), is yet to report results for the quarter ended October 2023. The results are expected to be released on December 7.
This athletic apparel maker is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of +13.5%. The consensus EPS estimate for the quarter has been revised 0.4% higher over the last 30 days to the current level.
Lululemon's revenues are expected to be $2.19 billion, up 17.8% 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
Oxford Industries, Inc. (OXM) : Free Stock Analysis Report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
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 athletic apparel maker is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of +13.5%.
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Oxford Industries, which belongs to the Zacks Textile - Apparel industry, posted revenues of $326.63 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.29%. The current consensus EPS estimate is $2.23 on $406.23 million in revenues for the coming quarter and $10.38 on $1.57 billion in revenues for the current fiscal year. Click to get this free report Oxford Industries, Inc. (OXM) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Oxford Industries (OXM) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.97 per share. Oxford Industries, which belongs to the Zacks Textile - Apparel industry, posted revenues of $326.63 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.29%. Click to get this free report Oxford Industries, Inc. (OXM) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Oxford Industries (OXM) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.97 per share. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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c414926c-a233-425e-91fd-23dd70470896
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714401.0
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2023-12-06 00:00:00 UTC
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Semtech (SMTC) Tops Q3 Earnings Estimates
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DCOMP
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https://www.nasdaq.com/articles/semtech-smtc-tops-q3-earnings-estimates
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nan
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Semtech (SMTC) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.15 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 113.33%. A quarter ago, it was expected that this chipmaker would post earnings of $0.02 per share when it actually produced earnings of $0.11, delivering a surprise of 450%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Semtech, which belongs to the Zacks Semiconductor - Analog and Mixed industry, posted revenues of $200.9 million for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.02%. This compares to year-ago revenues of $177.62 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Semtech shares have lost about 41.9% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Semtech?
While Semtech 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 Semtech: 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 -$0.04 on $207.38 million in revenues for the coming quarter and -$0.07 on $883.08 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, Semiconductor - Analog and Mixed is currently in the bottom 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.
One other stock from the broader Zacks Computer and Technology sector, Ciena (CIEN), is yet to report results for the quarter ended October 2023. The results are expected to be released on December 7.
This developer of high-speed networking technology is expected to post quarterly earnings of $0.68 per share in its upcoming report, which represents a year-over-year change of +11.5%. The consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level.
Ciena's revenues are expected to be $1.1 billion, up 13.4% 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
Semtech Corporation (SMTC) : Free Stock Analysis Report
Ciena Corporation (CIEN) : 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 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 Computer and Technology sector, Ciena (CIEN), is yet to report results for the quarter ended October 2023. This developer of high-speed networking technology is expected to post quarterly earnings of $0.68 per share in its upcoming report, which represents a year-over-year change of +11.5%.
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Semtech, which belongs to the Zacks Semiconductor - Analog and Mixed industry, posted revenues of $200.9 million for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.02%. The current consensus EPS estimate is -$0.04 on $207.38 million in revenues for the coming quarter and -$0.07 on $883.08 million in revenues for the current fiscal year. Click to get this free report Semtech Corporation (SMTC) : Free Stock Analysis Report Ciena Corporation (CIEN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Semtech (SMTC) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.15 per share. Semtech, which belongs to the Zacks Semiconductor - Analog and Mixed industry, posted revenues of $200.9 million for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.02%. 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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Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. One other stock from the broader Zacks Computer and Technology sector, Ciena (CIEN), is yet to report results for the quarter ended October 2023.
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86c4dcb2-77dc-42f6-a655-dc0602f17bbd
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714402.0
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2023-12-06 00:00:00 UTC
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Chewy (CHWY) Q3 Earnings Beat Estimates
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DCOMP
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https://www.nasdaq.com/articles/chewy-chwy-q3-earnings-beat-estimates
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nan
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nan
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Chewy (CHWY) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this online pet store would post earnings of $0.11 per share when it actually produced earnings of $0.15, delivering a surprise of 36.36%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Chewy, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $2.74 billion for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.56%. This compares to year-ago revenues of $2.53 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Chewy shares have lost about 50.3% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Chewy?
While Chewy 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 Chewy: 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 $0.12 on $2.92 billion in revenues for the coming quarter and $0.57 on $11.24 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, Consumer Products - Staples is currently in the bottom 29% 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 broader Zacks Consumer Staples sector, Simply Good Foods (SMPL), has yet to report results for the quarter ended November 2023.
This nutritional foods company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of -4.8%. The consensus EPS estimate for the quarter has been revised 1.7% lower over the last 30 days to the current level.
Simply Good Foods' revenues are expected to be $308.62 million, up 2.6% 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
Chewy (CHWY) : Free Stock Analysis Report
The Simply Good Foods Company (SMPL) : 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 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. Another stock from the broader Zacks Consumer Staples sector, Simply Good Foods (SMPL), has yet to report results for the quarter ended November 2023. This nutritional foods company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of -4.8%.
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Chewy, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $2.74 billion for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.56%. The current consensus EPS estimate is $0.12 on $2.92 billion in revenues for the coming quarter and $0.57 on $11.24 billion in revenues for the current fiscal year. Click to get this free report Chewy (CHWY) : Free Stock Analysis Report The Simply Good Foods Company (SMPL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Chewy (CHWY) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.09 per share. Chewy, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $2.74 billion for the quarter ended October 2023, missing the Zacks Consensus Estimate by 0.56%. Click to get this free report Chewy (CHWY) : Free Stock Analysis Report The Simply Good Foods Company (SMPL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Chewy (CHWY) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.09 per share. 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, Consumer Products - Staples is currently in the bottom 29% of the 250 plus Zacks industries.
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0c19344f-9010-4040-9009-fcefe6378daf
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714403.0
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2023-12-06 00:00:00 UTC
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EXCLUSIVE-AbbVie nears roughly $8 billion deal for drug developer Cerevel-sources
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DCOMP
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https://www.nasdaq.com/articles/exclusive-abbvie-nears-roughly-%248-billion-deal-for-drug-developer-cerevel-sources
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By David Carnevali
NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday.
The acquisition would come just days after AbbVie agreed to buy cancer drug developer ImmunoGen Inc IMGN.O for $10.1 billion in cash, highlighting its appetite to place big bets on promising new medicines.
AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said.
If the negotiations conclude successfully, a deal could be announced as early as this week, the sources added, requesting anonymity because the matter is confidential.
AbbVie and Cerevel did not immediately respond to requests for comment.
Cerevel shares jumped 14% to $42.20 in afterhours trading in New York on Wednesday.
(Reporting by David Carnevali in New York Editing by Greg Roumeliotis)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Carnevali NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. The acquisition would come just days after AbbVie agreed to buy cancer drug developer ImmunoGen Inc IMGN.O for $10.1 billion in cash, highlighting its appetite to place big bets on promising new medicines. If the negotiations conclude successfully, a deal could be announced as early as this week, the sources added, requesting anonymity because the matter is confidential.
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By David Carnevali NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. Cerevel shares jumped 14% to $42.20 in afterhours trading in New York on Wednesday. (Reporting by David Carnevali in New York Editing by Greg Roumeliotis) ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Carnevali NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said. (Reporting by David Carnevali in New York Editing by Greg Roumeliotis) ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Carnevali NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. The acquisition would come just days after AbbVie agreed to buy cancer drug developer ImmunoGen Inc IMGN.O for $10.1 billion in cash, highlighting its appetite to place big bets on promising new medicines. AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said.
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bf963593-0033-4c4e-8d80-1bf550c6f5f6
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714404.0
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2023-12-06 00:00:00 UTC
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US STOCKS-S&P 500 end lower as investors weigh fresh employment data
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-sp-500-end-lower-as-investors-weigh-fresh-employment-data
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nan
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nan
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By Noel Randewich and Amruta Khandekar
Dec 6 (Reuters) - U.S. stocks ended down on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in megacaps and energy shares limited gains.
The ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000. That provided fresh evidence of labor market weakness, a day after news of a drop in October job openings.
The latest employment data reinforced expectations the Fed's rate-hike campaign is cooling the economy.
"Right now, it's consistent with the overall trajectory of softening job growth, and so far that's not problematic because the economy is still humming along," said Bill Merz, head of capital markets research at U.S. Bank Wealth Management in Minneapolis.
"What would be concerning is if that trend persists for too long, and it turns into large job losses."
Declines in energy stocks weighed on the major indexes, with oil prices dropping 4% as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries about fuel demand. O/R
Microsoft MSFT.O, Amazon AMZN.O and Nvidia NVDA.O also lost ground.
On Friday, the more comprehensive non-farm payrolls report for November will offer greater clarity on the state of the labor market.
Investors widely expect the Fed to hold rates steady at its meeting next week and potentially start cutting rates in March.
A slim majority of economists in a Reuters poll said they believe the Fed will leave rates unchanged at least until July, later than earlier thought.
Optimism about rate cuts helped push the S&P 500 .SPX up nearly 9% in November, and the benchmark is now down about 9% from its record high close in December 2021.
Unofficially, the S&P 500 declined 0.39% to end the session at 4,549.37 points.
The Nasdaq declined 0.58% to 14,146.71 points, while Dow Jones Industrial Average declined 0.19% to 36,054.76 points.
Plug PowerPLUG.O fell after Morgan Stanley downgraded the hydrogen fuel cell firm to "underweight" from "equal weight."
Tobacco giants Altria Group MO.N and Philip Morris International PM.N slipped after UK peer British American Tobacco BATS.L said it will take a $31.5 billion hit from writing down the value of some U.S. cigarette brands.
Campbell SoupCPB.N rallied after the food seller beat quarterly profit expectations, helped by higher prices for its packaged meals and snacks.
ADP https://tmsnrt.rs/47OJ3zh
S&P 500 trades https://tmsnrt.rs/46KQrum
(Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang)
((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in megacaps and energy shares limited gains. "Right now, it's consistent with the overall trajectory of softening job growth, and so far that's not problematic because the economy is still humming along," said Bill Merz, head of capital markets research at U.S. Bank Wealth Management in Minneapolis. Declines in energy stocks weighed on the major indexes, with oil prices dropping 4% as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries about fuel demand.
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By Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in megacaps and energy shares limited gains. The ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000. ADP https://tmsnrt.rs/47OJ3zh S&P 500 trades https://tmsnrt.rs/46KQrum (Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang) ((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in megacaps and energy shares limited gains. Investors widely expect the Fed to hold rates steady at its meeting next week and potentially start cutting rates in March. ADP https://tmsnrt.rs/47OJ3zh S&P 500 trades https://tmsnrt.rs/46KQrum (Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang) ((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in megacaps and energy shares limited gains. On Friday, the more comprehensive non-farm payrolls report for November will offer greater clarity on the state of the labor market. Investors widely expect the Fed to hold rates steady at its meeting next week and potentially start cutting rates in March.
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5d722426-5a88-42f6-bef0-94de2ef46bcb
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714405.0
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2023-12-06 00:00:00 UTC
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Transdigm Group Incorporated Shares Approach 52-Week High - Market Mover
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DCOMP
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https://www.nasdaq.com/articles/transdigm-group-incorporated-shares-approach-52-week-high-market-mover-2
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nan
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nan
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Transdigm Group Incorporated (TDG) shares closed today at 0.7% below its 52 week high of $980.00, giving the company a market cap of $53B. The stock is currently up 58.6% year-to-date, up 64.4% over the past 12 months, and up 230.7% 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 45.9% 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 , 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 115.6%
The company's stock price performance over the past 12 months beats the peer average by 90.7%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -564.3% 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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Transdigm Group Incorporated (TDG) shares closed today at 0.7% below its 52 week high of $980.00, giving the company a market cap of $53B. 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.
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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 , 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 115.6% The company's stock price performance over the past 12 months beats the peer average by 90.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -564.3% 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 , 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 115.6% The company's stock price performance over the past 12 months beats the peer average by 90.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -564.3% 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 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 115.6% The company's stock price performance over the past 12 months beats the peer average by 90.7% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is -564.3% higher than the average peer.
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99ef398c-19eb-4cdc-bb2b-77c9fb23bb46
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714406.0
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2023-12-06 00:00:00 UTC
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Rivian Stock Surged Today: Here's Why It Could Keep Soaring
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DCOMP
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https://www.nasdaq.com/articles/rivian-stock-surged-today%3A-heres-why-it-could-keep-soaring
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nan
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nan
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Rivian Automotive (NASDAQ: RIVN) stock surged on Wednesday, rallying 11.5% in early morning trading. In a fireside chat at the Barclays Global Automotive and Mobility Tech Conference, Rivian CFO Claire McDonough provided crucial insight into the electric vehicle (EV) maker's plans, including a big update that sent the markets into a tizzy today.
Rivian's new battery pack to lower EV cost
Rivian reiterated its goal to turn gross-margin-positive in 2024. Aside from moves to cut costs, Rivian expects to launch its standard battery pack in its R1 vehicles -- the R1S SUV and R1T pickup truck -- and believes this move could open up a large addressable market for the company.
The bigger update, though, is Rivian's plan to introduce a new battery aside from the standard pack for its R1 vehicles. McDonough said the simpler battery pack and module structure is not only easier to manufacture, but will also eliminate "thousands of dollars of costs."
That could mean more affordable Rivian EVs for customers and, therefore, higher sales for the company. Rivian's R1 EVs currently sell for a starting price of a little over $70,000 per unit. Its cost-efficient new battery technology should also likely play a key role in helping the EV maker achieve its gross margin goal.
With its new battery packs, Rivian hopes to provide its customers with more available options to boost sales. As it introduces the battery packs in R1 vehicles in 2024 and upgrades its assembly lines, Rivian expects production to take a hit in the second and third quarters.
Rivian is headed in the right direction, and its stock price could follow
Rivian has faced its fair share of challenges over the past couple of years or so ever since its first R1T pickup truck rolled off its production line in September 2021. Production delays and slow deliveries hit the company's bottom line and cash balances and made investors jittery.
Rivian's CFO, however, believes many of the challenges are behind the company; and she could be right. Rivian is finally ramping up production and recently increased its 2024 production outlook by 2,000 units to 54,000 units. Rivian is also focused on delivering 100,000 electric delivery vehicles to e-commerce giant Amazon.
In its third quarter, Rivian's revenue surged 149% while its operating loss narrowed by 19%, both year over year. Its gross profit per vehicle improved by $2,000 per unit sequentially, and the EV maker ended the quarter with nearly $9 billion in cash, cash equivalents, and short-term investments. Rivian expects to begin construction of its Georgia plant in early 2024 and start producing vehicles on its new platform, R2, by 2026.
Long story short, most of the numbers suggest that Rivian may have hit an inflection point, and there's possibly more upside to the battered EV stock than downside from here -- Rivian stock is still down almost 80% since its public debut in late 2021 as of this writing.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In a fireside chat at the Barclays Global Automotive and Mobility Tech Conference, Rivian CFO Claire McDonough provided crucial insight into the electric vehicle (EV) maker's plans, including a big update that sent the markets into a tizzy today. Its cost-efficient new battery technology should also likely play a key role in helping the EV maker achieve its gross margin goal. Production delays and slow deliveries hit the company's bottom line and cash balances and made investors jittery.
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Rivian Automotive (NASDAQ: RIVN) stock surged on Wednesday, rallying 11.5% in early morning trading. Rivian's new battery pack to lower EV cost Rivian reiterated its goal to turn gross-margin-positive in 2024. Aside from moves to cut costs, Rivian expects to launch its standard battery pack in its R1 vehicles -- the R1S SUV and R1T pickup truck -- and believes this move could open up a large addressable market for the company.
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Rivian's new battery pack to lower EV cost Rivian reiterated its goal to turn gross-margin-positive in 2024. Rivian is headed in the right direction, and its stock price could follow Rivian has faced its fair share of challenges over the past couple of years or so ever since its first R1T pickup truck rolled off its production line in September 2021. Long story short, most of the numbers suggest that Rivian may have hit an inflection point, and there's possibly more upside to the battered EV stock than downside from here -- Rivian stock is still down almost 80% since its public debut in late 2021 as of this writing.
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Rivian's new battery pack to lower EV cost Rivian reiterated its goal to turn gross-margin-positive in 2024. As it introduces the battery packs in R1 vehicles in 2024 and upgrades its assembly lines, Rivian expects production to take a hit in the second and third quarters. The Motley Fool has positions in and recommends Amazon.
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8bd16774-5285-4e91-9ed8-81a3b73468d8
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714407.0
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2023-12-06 00:00:00 UTC
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Caterpillar (CAT) Advances While Market Declines: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/caterpillar-cat-advances-while-market-declines%3A-some-information-for-investors
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nan
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The most recent trading session ended with Caterpillar (CAT) standing at $255.97, reflecting a +0.31% shift from the previouse trading day's closing. This change outpaced 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%.
The construction equipment company's shares have seen an increase of 8.63% 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 closely monitoring the performance of Caterpillar in its forthcoming earnings report. The company is predicted to post an EPS of $4.76, indicating a 23.32% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $17.26 billion, showing a 3.97% escalation compared to the year-ago quarter.
CAT's full-year Zacks Consensus Estimates are calling for earnings of $20.58 per share and revenue of $67.25 billion. These results would represent year-over-year changes of +48.7% and +13.16%, respectively.
Any recent changes to analyst estimates for Caterpillar should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research 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, 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. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. Caterpillar is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Caterpillar is presently being traded at a Forward P/E ratio of 12.4. This expresses a premium compared to the average Forward P/E of 9.42 of its industry.
We can additionally observe that CAT currently boasts a PEG ratio of 1.03. 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. CAT's industry had an average PEG ratio of 0.9 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 196, positioning it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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
Caterpillar Inc. (CAT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Simultaneously, our latest consensus estimate expects the revenue to be $17.26 billion, showing a 3.97% escalation compared to the year-ago quarter. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. 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 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. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Currently, this industry holds a Zacks Industry Rank of 196, positioning it in the bottom 23% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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Currently, this industry holds a Zacks Industry Rank of 196, positioning it in the bottom 23% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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aa85c012-27e5-4d86-99a6-f9c732768c3a
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714408.0
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2023-12-06 00:00:00 UTC
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Tesla (TSLA) Advances While Market Declines: Some Information for Investors
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DCOMP
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https://www.nasdaq.com/articles/tesla-tsla-advances-while-market-declines%3A-some-information-for-investors
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nan
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nan
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The most recent trading session ended with Tesla (TSLA) standing at $239.37, reflecting a +0.27% shift from the previouse trading day's closing. This change outpaced 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%.
The electric car maker's shares have seen an increase of 7.44% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 4.66% and the S&P 500's gain of 5.08%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is predicted to post an EPS of $0.74, indicating a 37.82% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $25.8 billion, showing a 6.09% escalation compared to the year-ago quarter.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $3.17 per share and revenue of $97.54 billion. These results would represent year-over-year changes of -22.11% and +19.74%, respectively.
Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research 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, 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. The Zacks Consensus EPS estimate has moved 2.7% lower within the past month. Tesla is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Tesla is presently being traded at a Forward P/E ratio of 75.39. This expresses a premium compared to the average Forward P/E of 9.63 of its industry.
We can additionally observe that TSLA currently boasts a PEG ratio of 3.77. 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. TSLA's industry had an average PEG ratio of 1.31 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 157, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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
Tesla, Inc. (TSLA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Simultaneously, our latest consensus estimate expects the revenue to be $25.8 billion, showing a 6.09% escalation compared to the year-ago quarter. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. 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 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. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Currently, this industry holds a Zacks Industry Rank of 157, positioning it in the bottom 38% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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Currently, this industry holds a Zacks Industry Rank of 157, positioning it in the bottom 38% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4e2e0b2a-3d1c-4e5c-939e-f040f6027d9a
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714409.0
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2023-12-06 00:00:00 UTC
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Here's Why IBM (IBM) Fell More Than Broader Market
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DCOMP
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https://www.nasdaq.com/articles/heres-why-ibm-ibm-fell-more-than-broader-market
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nan
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In the latest market close, IBM (IBM) reached $160.28, with a -0.69% movement compared to the previous day. 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%.
Coming into today, shares of the technology and consulting company had gained 8.44% in the past month. In that same time, the Computer and Technology sector gained 6.19%, while the S&P 500 gained 5.08%.
Investors will be eagerly watching for the performance of IBM in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.73, showcasing a 3.61% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $17.06 billion, indicating a 2.21% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.45 per share and revenue of $61.54 billion, indicating changes of +3.5% and +1.67%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for IBM. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.14% higher within the past month. Currently, IBM is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, IBM is presently being traded at a Forward P/E ratio of 17.07. This indicates a premium in contrast to its industry's Forward P/E of 15.79.
Meanwhile, IBM's PEG ratio is currently 4.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Integrated Systems industry stood at 2.55 at the close of the market yesterday.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% 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.
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
International Business Machines Corporation (IBM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alongside, our most recent consensus estimate is anticipating revenue of $17.06 billion, indicating a 2.21% upward movement from the same quarter last year. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. 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 market close, IBM (IBM) reached $160.28, with a -0.69% movement compared to the previous day. Alongside, our most recent consensus estimate is anticipating revenue of $17.06 billion, indicating a 2.21% upward movement from the same quarter last year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.45 per share and revenue of $61.54 billion, indicating changes of +3.5% and +1.67%, respectively, compared to the previous year.
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Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.45 per share and revenue of $61.54 billion, indicating changes of +3.5% and +1.67%, respectively, compared to the previous year. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% 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.
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In terms of valuation, IBM is presently being traded at a Forward P/E ratio of 17.07. 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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a4f80db3-2267-434f-b104-3876940d94cb
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714410.0
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2023-12-06 00:00:00 UTC
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Netflix (NFLX) Dips More Than Broader Market: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/netflix-nflx-dips-more-than-broader-market%3A-what-you-should-know
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nan
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nan
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Netflix (NFLX) closed at $446.73 in the latest trading session, marking a -1.85% 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%.
Prior to today's trading, shares of the internet video service had gained 4.73% over the past month. This has outpaced the Consumer Discretionary sector's gain of 3.9% and lagged 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 Netflix in its upcoming release. The company's earnings per share (EPS) are projected to be $2.18, reflecting a 1716.67% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $8.7 billion, reflecting a 10.86% rise from the equivalent quarter last year.
NFLX's full-year Zacks Consensus Estimates are calling for earnings of $12.07 per share and revenue of $33.6 billion. These results would represent year-over-year changes of +21.31% and +6.26%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Netflix. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Right now, Netflix possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Netflix is currently being traded at a Forward P/E ratio of 37.71. This valuation marks a premium compared to its industry's average Forward P/E of 13.07.
It is also worth noting that NFLX currently has a PEG ratio of 1.77. 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. The Broadcast Radio and Television industry had an average PEG ratio of 1.37 as trading concluded yesterday.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to 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
Netflix, Inc. (NFLX) : 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.
|
At the same time, our most recent consensus estimate is projecting a revenue of $8.7 billion, reflecting a 10.86% 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. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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Netflix (NFLX) closed at $446.73 in the latest trading session, marking a -1.85% move from the prior day. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Netflix, Inc. (NFLX) : 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 92, finds itself in the top 37% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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Netflix (NFLX) closed at $446.73 in the latest trading session, marking a -1.85% 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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f4272cf0-8d86-4f21-b510-89ff7307e38e
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714411.0
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2023-12-06 00:00:00 UTC
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American States Water (AWR) Up 1.6% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/american-states-water-awr-up-1.6-since-last-earnings-report%3A-can-it-continue
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It has been about a month since the last earnings report for American States Water (AWR). Shares have added about 1.6% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is American States Water due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
American States Water Q3 Earnings Beat, Sales Up Y/Y
American States Water Company reported third-quarter 2023 operating earnings per share (EPS) of 85 cents, which beat the Zacks Consensus Estimate of 82 cents by 3.7%. The bottom line increased 16.4% from the year-ago quarter’s 73 cents.
Total Revenues
Operating revenues came in at $151.7 million, missing the Zacks Consensus Estimate of $152 million by 0.2%. The top line increased 12.4% from $135 million in the prior-year period.
Operational Update
Operating expenses in the quarter were $99.9 million, up 5.6% from the year-ago quarter’s $94.6 million. This can be attributed to higher water and power purchases and higher maintenance expenses.
Operating income totaled $51.8 million, up 28.5% from $40.3 million recorded in the corresponding period of 2022.
Interest expenses were $11.7 million, up 60.3% year over year. Interest income totaled $2.1 million, up 228.6%.
Segmental Details
Earnings from the Water segment amounted to 72 cents per share, up 33.3% from 54 cents a year ago. This year-over-year improvement was due to rate increases.
Earnings from the Electric segment were recorded at 4 cents per share, which was flat year over year.
The same from the Contracted Services segment came in at 12 cents per share, which was consistent with the year-ago quarter’s figure.
The loss from AWR (Parent) was 2 cents per share, wider than a loss of 1 cent a year ago.
Financial Update
As of Sep 30, 2023, AWR’s cash and cash equivalents totaled $8.6 million compared with $5.9 million as of Dec 31, 2022.
As of Sep 30, 2023, the company’s long-term debt was $575.4 million compared with $446.5 million as of Dec 31, 2022.
Cash provided by operating activities for the nine months ended Sep 30, 2023, totaled $56.5 million compared with $89.9 million in the corresponding period of 2022.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
At this time, American States Water has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
American States Water has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
American States Water belongs to the Zacks Utility - Water Supply industry. Another stock from the same industry, California Water Service Group (CWT), has gained 3.7% over the past month. More than a month has passed since the company reported results for the quarter ended September 2023.
California Water Service Group reported revenues of $254.98 million in the last reported quarter, representing a year-over-year change of -4.3%. EPS of $0.60 for the same period compares with $1.03 a year ago.
For the current quarter, California Water Service Group is expected to post earnings of $1.50 per share, indicating a change of +328.6% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
California Water Service Group has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
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
American States Water Company (AWR) : Free Stock Analysis Report
California Water Service Group (CWT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Will the recent positive trend continue leading up to its next earnings release, or is American States Water due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. 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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American States Water Company reported third-quarter 2023 operating earnings per share (EPS) of 85 cents, which beat the Zacks Consensus Estimate of 82 cents by 3.7%. California Water Service Group reported revenues of $254.98 million in the last reported quarter, representing a year-over-year change of -4.3%. Click to get this free report American States Water Company (AWR) : Free Stock Analysis Report California Water Service Group (CWT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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American States Water Company reported third-quarter 2023 operating earnings per share (EPS) of 85 cents, which beat the Zacks Consensus Estimate of 82 cents by 3.7%. California Water Service Group reported revenues of $254.98 million in the last reported quarter, representing a year-over-year change of -4.3%. Click to get this free report American States Water Company (AWR) : Free Stock Analysis Report California Water Service Group (CWT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for American States Water (AWR). American States Water Company reported third-quarter 2023 operating earnings per share (EPS) of 85 cents, which beat the Zacks Consensus Estimate of 82 cents by 3.7%. Interest expenses were $11.7 million, up 60.3% year over year.
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5b4ee65d-8198-4d37-8199-3057c89416bd
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714412.0
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2023-12-06 00:00:00 UTC
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EXPLAINER-What is the border dispute between Venezuela and Guyana?
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https://www.nasdaq.com/articles/explainer-what-is-the-border-dispute-between-venezuela-and-guyana
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By Julia Symmes Cobb
Dec 6 (Reuters) - Tensions between neighbors Venezuela and Guyana have ratcheted up in recent weeks over a long-running territorial dispute.
At issue is a 160,000-square-km (62,000-square-mile) border territory around the Esequibo river, which is mostly jungle, and an offshore area where massive discoveries of oil and gas have been made.
Both countries claim ownership of the territory, which is sparsely populated and whose much-disputed border was agreed under a 1899 decision when Guyana was still part of the British Empire.
WHAT HAS SPARKED THE TENSIONS?
Venezuela reactivated its claim to the territory in recent years after the finding of some 11 billion barrels of recoverable oil and gas off Guyana's coast.
Caracas won backing in a referendum at the weekend to create a new state and President Nicolas Maduro has pledged oil and mining exploration in the claimed area.
Analysts and sources in Caracas have said the referendum, in which voters also rejected the International Court of Justice's (ICJ) jurisdiction over the case, will not translate to actual invasion. It is, they say, an attempt by Maduro to show strength and gauge support for his government ahead of 2024 presidential elections.
WHY IS THE TERRITORY IMPORTANT?
Though the onshore area of the Esequibo is largely undeveloped jungle, there have been major offshore discoveries of crude and gas nearby in recent years, putting Guyana on the world map of oil producers.
A consortium by Exxon Mobil XOM.N, China's CNOOC 0883.HK and U.S. Hess HES.N began oil production in Guyana in 2019.
Oil production is currently at some 400,000 barrels-per-day (bpd) of oil and gas and is expected to rise to more than 1 million bpd by 2027. It has sharply boosted Guyana's economy and promises huge income for the country over the coming years.
Though Venezuela sits on the world's largest crude reserves and also has massive deposits of natural gas, its production has fallen significantly in recent years on U.S. sanctions, alleged corruption and deteriorated infrastructure.
Maduro said on Tuesday he would authorize oil exploration in the Esequibo, with state oil company PDVSA and state iron-and-steel maker CVG creating divisions for the disputed region.
His office has said Guyana should not be allowed to grant concessions in "to-be demarcated" ocean areas.
It is not entirely clear which offshore areas Maduro is claiming for Venezuela, but he has said all companies already operating offshore Guyana have three months to leave. Exxon has said border disputes are for countries and relevant international bodies to solve.
WHAT HAS THE ICJ SAID?
Guyana had asked the ICJ to bar the referendum.
The court did not go that far in a ruling last week, but it prohibited Venezuela from taking any action that would change the status quo.
Maduro has repeatedly said the referendum is binding, though the vote was previously referred to by his government as "consultative."
WHAT HAS BEEN GUYANA'S RESPONSE?
Guyana's President Irfaan Ali said on Tuesday the country will report Maduro's comments about proposed oil development to the United Nations and the ICJ and that he has spoken with U.N. Secretary General Antonio Guterres.
His country's armed forces are on high alert, Ali added, saying Venezuela had declared itself an "outlaw nation" and blatantly disregard ICJ orders.
Ali also sought to calm potential investors, saying Guyana has been assured of support by partners and the international community.
Venezuela's foreign minister said on social media on Wednesday he spoke to his Guyanese counterpart about what he called Venezuela's "unappealable mandate".
Guyana's government has questioned turn-out figures given by Maduro's government for the referendum.
Electoral authorities on Sunday spoke about 10.5 million votes on the five referendum questions, but later said that figure referred to total voters. Reuters witnesses saw several poorly-attended polling places during the vote.
GRAPHIC on Guyana's offered offshore oil blocks https://graphics.reuters.com/GUYANA-OIL/CONFERENCE/gkplwdeddvb/
Blocks included in Guyana's 2023 licensing round https://tmsnrt.rs/3NevgKf
(Reporting by Julia Symmes Cobb, additional reporting by Deisy Buitrago, Marianna Parraga and Kiana Wilburg, Editing by Rosalba O'Brien)
((julia.cobb@thomsonreuters.com; +57-316-389-7187;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Though the onshore area of the Esequibo is largely undeveloped jungle, there have been major offshore discoveries of crude and gas nearby in recent years, putting Guyana on the world map of oil producers. Though Venezuela sits on the world's largest crude reserves and also has massive deposits of natural gas, its production has fallen significantly in recent years on U.S. sanctions, alleged corruption and deteriorated infrastructure. Guyana's President Irfaan Ali said on Tuesday the country will report Maduro's comments about proposed oil development to the United Nations and the ICJ and that he has spoken with U.N. Secretary General Antonio Guterres.
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Though the onshore area of the Esequibo is largely undeveloped jungle, there have been major offshore discoveries of crude and gas nearby in recent years, putting Guyana on the world map of oil producers. Maduro said on Tuesday he would authorize oil exploration in the Esequibo, with state oil company PDVSA and state iron-and-steel maker CVG creating divisions for the disputed region. GRAPHIC on Guyana's offered offshore oil blocks https://graphics.reuters.com/GUYANA-OIL/CONFERENCE/gkplwdeddvb/ Blocks included in Guyana's 2023 licensing round https://tmsnrt.rs/3NevgKf (Reporting by Julia Symmes Cobb, additional reporting by Deisy Buitrago, Marianna Parraga and Kiana Wilburg, Editing by Rosalba O'Brien) ((julia.cobb@thomsonreuters.com; +57-316-389-7187;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Venezuela reactivated its claim to the territory in recent years after the finding of some 11 billion barrels of recoverable oil and gas off Guyana's coast. Though the onshore area of the Esequibo is largely undeveloped jungle, there have been major offshore discoveries of crude and gas nearby in recent years, putting Guyana on the world map of oil producers. GRAPHIC on Guyana's offered offshore oil blocks https://graphics.reuters.com/GUYANA-OIL/CONFERENCE/gkplwdeddvb/ Blocks included in Guyana's 2023 licensing round https://tmsnrt.rs/3NevgKf (Reporting by Julia Symmes Cobb, additional reporting by Deisy Buitrago, Marianna Parraga and Kiana Wilburg, Editing by Rosalba O'Brien) ((julia.cobb@thomsonreuters.com; +57-316-389-7187;)) The views and 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 issue is a 160,000-square-km (62,000-square-mile) border territory around the Esequibo river, which is mostly jungle, and an offshore area where massive discoveries of oil and gas have been made. Venezuela reactivated its claim to the territory in recent years after the finding of some 11 billion barrels of recoverable oil and gas off Guyana's coast. Though the onshore area of the Esequibo is largely undeveloped jungle, there have been major offshore discoveries of crude and gas nearby in recent years, putting Guyana on the world map of oil producers.
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0b530439-5f54-4ca1-b4b0-6e1c2d0e935b
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714413.0
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2023-12-06 00:00:00 UTC
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AbbVie to buy drug developer Cerevel for $8.7 billion
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https://www.nasdaq.com/articles/abbvie-to-buy-drug-developer-cerevel-for-%248.7-billion
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Adds details on the deal and background
Dec 6 (Reuters) - AbbVie ABBV.N said on Wednesday it would buy Cerevel Therapeutics CERE.O for a total equity value of about $8.7 billion.
AbbVie would acquire all outstanding shares of Cerevel for $45 per share in cash, representing a premium of 22% to Wednesday's close.
Cerevel is developing drugs for diseases such as Alzheimer's disease, psychosis, epilepsy, panic disorder and Parkinson's. One of its lead drugs in clinical trials, Emraclidine, is aimed for people living with schizophrenia.
The Cambridge, Massachbussets-based firm was formed in 2018 when Pfizer Inc PFE.N carved out its division developing drugs for the central nervous system into a standalone company backed by a $350 million investment from Bain.
Cerevel listed in the New York stock market in 2020, and Bain and Pfizer hold stakes of about 36% and 15%, respectively.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Maju Samuel)
((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;))
The views and 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 the deal and background Dec 6 (Reuters) - AbbVie ABBV.N said on Wednesday it would buy Cerevel Therapeutics CERE.O for a total equity value of about $8.7 billion. One of its lead drugs in clinical trials, Emraclidine, is aimed for people living with schizophrenia. The Cambridge, Massachbussets-based firm was formed in 2018 when Pfizer Inc PFE.N carved out its division developing drugs for the central nervous system into a standalone company backed by a $350 million investment from Bain.
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AbbVie would acquire all outstanding shares of Cerevel for $45 per share in cash, representing a premium of 22% to Wednesday's close. Cerevel is developing drugs for diseases such as Alzheimer's disease, psychosis, epilepsy, panic disorder and Parkinson's. The Cambridge, Massachbussets-based firm was formed in 2018 when Pfizer Inc PFE.N carved out its division developing drugs for the central nervous system into a standalone company backed by a $350 million investment from Bain.
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AbbVie would acquire all outstanding shares of Cerevel for $45 per share in cash, representing a premium of 22% to Wednesday's close. Cerevel is developing drugs for diseases such as Alzheimer's disease, psychosis, epilepsy, panic disorder and Parkinson's. The Cambridge, Massachbussets-based firm was formed in 2018 when Pfizer Inc PFE.N carved out its division developing drugs for the central nervous system into a standalone company backed by a $350 million investment from Bain.
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Adds details on the deal and background Dec 6 (Reuters) - AbbVie ABBV.N said on Wednesday it would buy Cerevel Therapeutics CERE.O for a total equity value of about $8.7 billion. AbbVie would acquire all outstanding shares of Cerevel for $45 per share in cash, representing a premium of 22% to Wednesday's close. Cerevel is developing drugs for diseases such as Alzheimer's disease, psychosis, epilepsy, panic disorder and Parkinson's.
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7eeb47a5-4904-415c-9499-d5d6dbb20a7a
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714414.0
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2023-12-06 00:00:00 UTC
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Sprinkler (CXM) Q3 Earnings and Revenues Top Estimates
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https://www.nasdaq.com/articles/sprinkler-cxm-q3-earnings-and-revenues-top-estimates
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Sprinkler (CXM) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 57.14%. A quarter ago, it was expected that this customer experience software developer would post earnings of $0.05 per share when it actually produced earnings of $0.10, delivering a surprise of 100%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Sprinkler, which belongs to the Zacks Technology Services industry, posted revenues of $186.33 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 3.46%. This compares to year-ago revenues of $157.25 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.
Sprinkler shares have added about 104.8% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Sprinkler?
While Sprinkler 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 Sprinkler: 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 $188.13 million in revenues for the coming quarter and $0.30 on $720.03 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.
DocuSign (DOCU), another stock in the same industry, has yet to report results for the quarter ended October 2023. The results are expected to be released on December 7.
This provider of electronic signature technology is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of +7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
DocuSign's revenues are expected to be $689.17 million, up 6.8% 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
Sprinklr, Inc. (CXM) : Free Stock Analysis Report
DocuSign (DOCU) : 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 provider of electronic signature technology is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of +7%.
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Sprinkler, which belongs to the Zacks Technology Services industry, posted revenues of $186.33 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 3.46%. The current consensus EPS estimate is $0.08 on $188.13 million in revenues for the coming quarter and $0.30 on $720.03 million in revenues for the current fiscal year. Click to get this free report Sprinklr, Inc. (CXM) : Free Stock Analysis Report DocuSign (DOCU) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Sprinkler (CXM) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.07 per share. Sprinkler, which belongs to the Zacks Technology Services industry, posted revenues of $186.33 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 3.46%. 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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Sprinkler, which belongs to the Zacks Technology Services industry, posted revenues of $186.33 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 3.46%. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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22a407a9-ee86-48f4-8a56-9cb3a223fa6e
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714415.0
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2023-12-06 00:00:00 UTC
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3 Stocks at the Cutting Edge of Blockchain Technology
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https://www.nasdaq.com/articles/3-stocks-at-the-cutting-edge-of-blockchain-technology
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Blockchain stocks should be on your radar. The halving is coming, and a Bitcoin (BTC-USD) ETF could soon become a reality. When writing, the digital gold trades for around $43,000, well below its all-time high of $68,000. With these powerful catalysts forming a backdrop, now might be a good time to start seriously investing in blockchain stocks as a long-term hold.
Some blockchain stocks are more ahead of the curve than others. This article will dissect the best of the best and illustrate how they plan to build on their progress.
So here are the best blockchain stocks to consider that are pushing the needle forward.
Nvidia (NVDA)
Source: Shutterstock
Nvidia (NASDAQ:NVDA) is a somewhat overlooked blockchain stock. It’s most well-known for its impressive GPUs and is equally well-known as an AI stock.
NVDA stock has a strong influence over the crypto industry due to its GPUs being able to mine most types of cryptocurrencies. The company has a powerful influence over so-called AI crypto tokens. In a sense, AI tokens like Fetch.ai (FET-USD) are correlated to the earnings and performance of companies like NVDA due to their enormous sway over the industry.
Now might be a good time to load up on shares for NVDA stock. One of the key reasons is that although its valuation remains rich at 60 times earnings on a trailing basis, its forward P/E is just 26.70, so Wall Street is certainly bullish on the continued growth of the company’s bottom line and stock price.
IBM (IBM)
Source: shutterstock.com/LCV
IBM (NYSE:IBM) is another one of those underappreciated titans in the blockchain industry. It has been working on its own enterprise blockchain solutions since the technology was popularized.
Recently it announced a new initiative and a new cryptographic technology designed for managing digital assets in cold storage. This technology, named the IBM Hyper Protect Offline Signing Orchestrator (OSO), improves the security of crypto assets held in cold storage.
Cold storage is the preferred method to store crypto assets due to the security benefits it provides to users. It’s far more secure than leaving coins on a website due to the user being in control of their key pairs and mobile apps that have been subject to hacks, backdoors, and security breaches over the years.
In short, OSO makes cold storage even more robust by introducing measures such as electronic transaction approval by several stakeholders. This helps mitigate some of the weaknesses of cold storage, as individuals may be forced to divulge their cold storage keys via coercion, social engineering, or other attacks that focus on manipulating the user.
The OSO technology is currently being utilized by Metaco, a custody firm owned by Ripple (XRP-USD) and a long-standing partner of IBM in the cryptocurrency space.
This development makes IBM one of those blockchain stocks for investors to consider closely.
Riot Platforms (RIOT)
Source: rafapress / Shutterstock.com
Riot Platforms (NASDAQ:RIOT) is my favorite pick for a pure-play blockchain stock.
The bull case for RIOT stock can be chalked up to a few factors, but most significantly, culminating in a very impressive previous quarter, which saw its share price rally 28%.
As a Bitcoin mining company, RIOT managed to significantly increase its mining power and reduce its cost of mining Bitcoin to almost zero. As The Motley Fool reported, a large part was due to its strategic power use and the power credits it arranges with energy companies. This allowed it to pay around $6,141 per Bitcoin and pocket the premium.
Its power management strategy is a defining competitive advantage, as much of the industry is criticized for its heavy electricity use and high operating costs.
The upcoming halving event is expected to increase the price of Bitcoin significantly. But this could also be a boon for RIOT in a more indirect way by inflating its book value per share. Its equity to book value per share is $1.34 billion, and it currently holds 7,345 in Bitcoin on its balance sheet.
With a higher book value and improved bullish sentiment around the coin, we could see investors flock to the highly efficient RIOT as the whole market rallies, which makes the company a strong buy in my view.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
More From InvestorPlace
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The post 3 Stocks at the Cutting Edge of Blockchain Technology 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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One of the key reasons is that although its valuation remains rich at 60 times earnings on a trailing basis, its forward P/E is just 26.70, so Wall Street is certainly bullish on the continued growth of the company’s bottom line and stock price. This technology, named the IBM Hyper Protect Offline Signing Orchestrator (OSO), improves the security of crypto assets held in cold storage. With a higher book value and improved bullish sentiment around the coin, we could see investors flock to the highly efficient RIOT as the whole market rallies, which makes the company a strong buy in my view.
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Nvidia (NVDA) Source: Shutterstock Nvidia (NASDAQ:NVDA) is a somewhat overlooked blockchain stock. Riot Platforms (RIOT) Source: rafapress / Shutterstock.com Riot Platforms (NASDAQ:RIOT) is my favorite pick for a pure-play blockchain stock. As a Bitcoin mining company, RIOT managed to significantly increase its mining power and reduce its cost of mining Bitcoin to almost zero.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Blockchain stocks should be on your radar. Riot Platforms (RIOT) Source: rafapress / Shutterstock.com Riot Platforms (NASDAQ:RIOT) is my favorite pick for a pure-play blockchain stock. As a Bitcoin mining company, RIOT managed to significantly increase its mining power and reduce its cost of mining Bitcoin to almost zero.
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This technology, named the IBM Hyper Protect Offline Signing Orchestrator (OSO), improves the security of crypto assets held in cold storage. As a Bitcoin mining company, RIOT managed to significantly increase its mining power and reduce its cost of mining Bitcoin to almost zero. He then started writing about Australian and U.S. equities for various publications.
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2023-12-06 00:00:00 UTC
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US STOCKS-Wall St ends lower as investors weigh fresh employment data
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https://www.nasdaq.com/articles/us-stocks-wall-st-ends-lower-as-investors-weigh-fresh-employment-data
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By Noel Randewich and Amruta Khandekar
Dec 6 (Reuters) - U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year.
The ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000. That provided fresh evidence of labor market weakness, a day after news of a drop in October job openings.
The latest employment data reinforced expectations the Fed's rate-hike campaign is cooling the economy.
"Right now, it's consistent with the overall trajectory of softening job growth, and so far that's not problematic because the economy is still humming along," said Bill Merz, head of capital markets research at U.S. Bank Wealth Management in Minneapolis.
"What would be concerning is if that trend persists for too long, and it turns into large job losses."
Declines in energy stocks weighed on the major indexes, with oil prices dropping 4% as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries about fuel demand. O/R
Of the 11 S&P 500 sector indexes, eight declined, led by energy .SPNY, down 1.64%, followed by a 0.93% loss in information technology .SPLRCT.
Nvidia NVDA.O fell 2.3%, while Microsoft MSFT.O and Amazon AMZN.O each lost more than 1%.
While the S&P 500 ended lower, advancing issues in the index .AD.SPX outnumbered decliners by a 1.3-to-one ratio.
On Friday, the more comprehensive non-farm payrolls report for November will offer greater clarity on the state of the labor market.
Investors widely expect the Fed to hold rates steady at its meeting next week and potentially start cutting rates in March.
A slim majority of economists in a Reuters poll said they believe the Fed will leave rates unchanged at least until July, later than earlier thought.
Optimism about rate cuts helped push the S&P 500 .SPX up nearly 9% in November, and the benchmark is now down about 9% below its record high close in December 2021.
The S&P 500 declined 0.39% to end at 4,549.34 points.
The Nasdaq Composite Index .IXIC fell 0.58% to 14,146.71, while the Dow Jones Industrial Average .DJI slid 0.19% to 36,054.43.
Volume on U.S. exchanges was relatively heavy, with 11.3 billion shares traded, compared to an average of 10.7 billion shares over the previous 20 sessions.
Plug PowerPLUG.O fell 5.9% after Morgan Stanley downgraded the hydrogen fuel cell firm to "underweight" from "equal weight."
Tobacco giants Altria Group MO.N and Philip Morris International PM.N slipped 2.8% and 1.6%, respectively, after UK peer British American Tobacco BATS.L said it will take a $31.5 billion hit from writing down the value of some U.S. cigarette brands.
Campbell SoupCPB.N rallied 7.1% after the food seller beat quarterly profit expectations, helped by higher prices for its packaged meals and snacks.
The S&P 500 posted 29 new highs and no new lows; the Nasdaq recorded 99 new highs and 93 new lows.
ADP https://tmsnrt.rs/47OJ3zh
S&P 500 trades https://tmsnrt.rs/46KQrum
(Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang)
((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year. "Right now, it's consistent with the overall trajectory of softening job growth, and so far that's not problematic because the economy is still humming along," said Bill Merz, head of capital markets research at U.S. Bank Wealth Management in Minneapolis. Declines in energy stocks weighed on the major indexes, with oil prices dropping 4% as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries about fuel demand.
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By Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year. The ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000. ADP https://tmsnrt.rs/47OJ3zh S&P 500 trades https://tmsnrt.rs/46KQrum (Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang) ((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year. Declines in energy stocks weighed on the major indexes, with oil prices dropping 4% as a larger-than-expected rise in U.S. gasoline inventories exacerbated worries about fuel demand. ADP https://tmsnrt.rs/47OJ3zh S&P 500 trades https://tmsnrt.rs/46KQrum (Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang) ((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year. O/R Of the 11 S&P 500 sector indexes, eight declined, led by energy .SPNY, down 1.64%, followed by a 0.93% loss in information technology .SPLRCT. Investors widely expect the Fed to hold rates steady at its meeting next week and potentially start cutting rates in March.
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2023-12-06 00:00:00 UTC
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Here’s How to Position Yourself Going Into 2024
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https://www.nasdaq.com/articles/heres-how-to-position-yourself-going-into-2024
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Editor’s Note: On Tuesday, December 12, at 7 p.m. Eastern time, Louis Navellier, Eric Fry and Luke Lango are gathering for a special event – the Early Warning Summit 2024 – to give you their investing game plan for 2024. It’s a strategy that could outperform the market by 5X or more next year, no matter what happens. Sign up and reserve your spot for the event here.
In preparation for that event, we recently recorded a few videos where we ask Louis, Luke, and Eric for their honest opinions on some of the most heated topics in today’s investing world. And over the next few days, InvestorPlace Editor in Chief Luis Hernandez is bringing those videos to you. Take it away, Luis.
*********
The year is quickly coming to a close. And what a year it’s been…
The regional banking crisis, the Israel-Hamas conflict and central bank action have rocked the stock market. Meanwhile, the artificial intelligence craze, the moderation in Treasury yields and energy stocks’ return to favor have supported higher stock prices.
But amid the volatility, InvestorPlace analysts Louis Navellier, Luke Lango and Eric Fry have been able to give their subscribers the best profit opportunities in the market.
They’ve stayed calm and watched for opportunities. Because the reality is that you can be successful no matter which way the market turns. You just need to find the right stocks and make the right moves.
Here’s what we mean…
In 2023 alone, Louis has booked some big winners, like a 4% gain on United Microelectronics (UMC)… a 147.1% gain on GasLog Partners LP (GLOP)… and a 338.2% gain on Enphase Energy, Inc. (ENPH)
Eric has made some great returns on LEAPS trades, including a 115% partial gain on DBC calls… a 116% partial gain on TLT puts… as well as a 9% profit on Eramet (ERMAY)
This year, Luke closed some big winners, including 313.2% on Fulgent Genetics, Inc. (FLGT)… 102.5% on CRISPR Therapeutics (CRSP)… 160.6% on Impinj, Inc. (PI)… and 340.5% on NVIDIA Corporation (NVDA).
Now as we head into 2024 the biggest question is: What’s next?
Louis, Luke and Eric all agree the market is at a turning point – and on a path higher as we head into the New Year.
That’s why they’ve combined their investing strategies and proprietary “quant” systems to end up with something incredible… which they will reveal at the Early Warning Summit 2024 on Tuesday, December 12, at 7 p.m. Eastern time. (Save your spot for that event by going here.)
As the Editor in Chief at InvestorPlace, I work every day with Louis, Luke and Eric to help them bring you the best independent investment analysis and recommendations in the world.
And that means I get to spend a lot of time on video calls talking to some of the world’s top investors in real time.
Today, I want to share what that’s like – by sharing a video call between Luke and me…
A Banner Year for Tech Stocks
2023 has been a banner year for tech stocks. The tech-heavy NASDAQ surged about 36% year-to-date – a far cry from its dismal performance in 2022, where the index plunged 33.1%.
The NASDAQ’s strong run this year is thanks in large part to the “Magnificent 7” – Alphabet Inc. (GOOG), Amazon.com Inc. (AMZN), Apple Inc. (AAPL), Meta Platforms Inc. (META), Microsoft Corp. (MSFT), NVIDIA Corporation (NVDA) and Tesla Inc. (TSLA) – as they prospered from the artificial intelligence craze.
Then, investors turned increasingly more bullish on tech after the Federal Reserve hit the pause button on its interest rate hike cycle. Finally, a recovering U.S. economy and cooling inflation are boosting the tech sector.
But, as we know, what goes up cannot stay up forever, so should we expect another big year from tech in 2024? And, more importantly, should we invest in tech next year?
Luke offers his thoughts in this special video call. Luke also shares his outlook on the crypto industry for next year, including the level he expects Bitcoin to hit next year. Click here or click the play button below to find out what Luke has to say. His answers might surprise you.
On Tuesday, December 12, at 7 p.m. Eastern time, during the Early Warning Summit 2024, Louis, Eric and Luke also plan to reveal three stocks that could soar in 2024, regardless of where the market turns next.
Sign up for the event here.
I look forward to seeing you there!
Regards,
Luis Hernandez
Editor in Chief, InvestorPlace
P.S. Tomorrow, I’ll share another one of my video calls. In this one, I ask Louis Navellier what he expects from the Fed next year – and he shares his views on earnings. See you then!
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. Here’s How to Get In.
The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post Here’s How to Position Yourself Going Into 2024 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In preparation for that event, we recently recorded a few videos where we ask Louis, Luke, and Eric for their honest opinions on some of the most heated topics in today’s investing world. That’s why they’ve combined their investing strategies and proprietary “quant” systems to end up with something incredible… which they will reveal at the Early Warning Summit 2024 on Tuesday, December 12, at 7 p.m. Eastern time. On Tuesday, December 12, at 7 p.m. Eastern time, during the Early Warning Summit 2024, Louis, Eric and Luke also plan to reveal three stocks that could soar in 2024, regardless of where the market turns next.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Editor’s Note: On Tuesday, December 12, at 7 p.m. Eastern time, Louis Navellier, Eric Fry and Luke Lango are gathering for a special event – the Early Warning Summit 2024 – to give you their investing game plan for 2024. Today, I want to share what that’s like – by sharing a video call between Luke and me… A Banner Year for Tech Stocks 2023 has been a banner year for tech stocks. On Tuesday, December 12, at 7 p.m. Eastern time, during the Early Warning Summit 2024, Louis, Eric and Luke also plan to reveal three stocks that could soar in 2024, regardless of where the market turns next.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Editor’s Note: On Tuesday, December 12, at 7 p.m. Eastern time, Louis Navellier, Eric Fry and Luke Lango are gathering for a special event – the Early Warning Summit 2024 – to give you their investing game plan for 2024. Here’s what we mean… In 2023 alone, Louis has booked some big winners, like a 4% gain on United Microelectronics (UMC)… a 147.1% gain on GasLog Partners LP (GLOP)… and a 338.2% gain on Enphase Energy, Inc. (ENPH) Eric has made some great returns on LEAPS trades, including a 115% partial gain on DBC calls… a 116% partial gain on TLT puts… as well as a 9% profit on Eramet (ERMAY) This year, Luke closed some big winners, including 313.2% on Fulgent Genetics, Inc. (FLGT)… 102.5% on CRISPR Therapeutics (CRSP)… 160.6% on Impinj, Inc. (PI)… and 340.5% on NVIDIA Corporation (NVDA). Today, I want to share what that’s like – by sharing a video call between Luke and me… A Banner Year for Tech Stocks 2023 has been a banner year for tech stocks.
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You just need to find the right stocks and make the right moves. Today, I want to share what that’s like – by sharing a video call between Luke and me… A Banner Year for Tech Stocks 2023 has been a banner year for tech stocks. But, as we know, what goes up cannot stay up forever, so should we expect another big year from tech in 2024?
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714418.0
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2023-12-06 00:00:00 UTC
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After Hours Most Active for Dec 6, 2023 : CCI, CHWY, BEKE, CNHI, AEO, BABA, QQQ, INTC, AAPL, GOOGL, PARA, MTCH
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https://www.nasdaq.com/articles/after-hours-most-active-for-dec-6-2023-%3A-cci-chwy-beke-cnhi-aeo-baba-qqq-intc-aapl-googl
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The NASDAQ 100 After Hours Indicator is down -3.98 to 15,784.07. The total After hours volume is currently 74,322,664 shares traded.
The following are the most active stocks for the after hours session:
Crown Castle Inc. (CCI) is unchanged at $117.09, with 3,131,154 shares traded. CCI's current last sale is 105.96% of the target price of $110.5.
Chewy, Inc. (CHWY) is -1.55 at $17.80, with 2,951,069 shares traded. Smarter Analyst Reports: Chewy Posts Wider-Than-Expected Q3 Loss; Shares Fall
KE Holdings Inc (BEKE) is +0.16 at $15.55, with 2,701,927 shares traded. As reported by Zacks, the current mean recommendation for BEKE is in the "buy range".
CNH Industrial N.V. (CNHI) is unchanged at $10.96, with 2,608,207 shares traded. CNHI's current last sale is 72.53% of the target price of $15.11.
American Eagle Outfitters, Inc. (AEO) is unchanged at $19.95, with 2,311,399 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2024. The consensus EPS forecast is $0.43. AEO's current last sale is 105% of the target price of $19.
Alibaba Group Holding Limited (BABA) is +0.03 at $71.52, with 2,166,317 shares traded., following a 52-week high recorded in today's regular session.
Invesco QQQ Trust, Series 1 (QQQ) is -0.14 at $384.91, with 1,871,367 shares traded. This represents a 48.2% increase from its 52 Week Low.
Intel Corporation (INTC) is -0.03 at $41.24, with 1,591,257 shares traded. INTC's current last sale is 108.53% of the target price of $38.
Apple Inc. (AAPL) is -0.12 at $192.21, with 1,409,357 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Alphabet Inc. (GOOGL) is -0.14 at $129.88, with 1,304,098 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
Paramount Global (PARA) is unchanged at $15.22, with 1,217,300 shares traded. PARA's current last sale is 121.76% of the target price of $12.5.
Match Group, Inc. (MTCH) is unchanged at $32.85, with 1,136,207 shares traded. As reported by Zacks, the current mean recommendation for MTCH is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Smarter Analyst Reports: Chewy Posts Wider-Than-Expected Q3 Loss; Shares Fall Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2024. Alibaba Group Holding Limited (BABA) is +0.03 at $71.52, with 2,166,317 shares traded., following a 52-week high recorded in today's regular session.
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As reported by Zacks, the current mean recommendation for BEKE is in the "buy range". As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
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The total After hours volume is currently 74,322,664 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2024. Match Group, Inc. (MTCH) is unchanged at $32.85, with 1,136,207 shares traded.
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The NASDAQ 100 After Hours Indicator is down -3.98 to 15,784.07. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2024. INTC's current last sale is 108.53% of the target price of $38.
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3ff60d9b-6413-4aad-a0f5-e38aef770fe4
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714419.0
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2023-12-06 00:00:00 UTC
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7 High-Dividend Stocks to Buy for a Lifetime of Passive Income
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DCOMP
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https://www.nasdaq.com/articles/7-high-dividend-stocks-to-buy-for-a-lifetime-of-passive-income
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
As investors, we always strive to build a well-balanced portfolio that can provide stability through various economic cycles. While high-flying growth stocks generate all the hype these days (and deservedly so), defensive dividend stocks remain essential to provide a steady stream of income, as well as stability. That’s particularly true when markets become volatile. And let’s face it, with inflation proving stickier than hoped and various global tensions simmering, we could see increased volatility ahead.
But this doesn’t have to derail our portfolios if we hold the right mix of stocks. Even in turbulent times, plenty of stalwart, cash-rich companies with established track records have kept increasing their dividends year after year. I’m talking about the Dividend Aristocrats, and other S-tier stocks that represent some of the most reliable long-term holds out there. These are the types of stocks you can confidently buy and forget about, all while your dividend distributions roll in.
I’ll highlight seven generous dividend stocks perfectly suited for building a lifetime of passive income. Additionally, I’ll explore some lesser-known names throwing off juicy yields and a few dividend stalwarts you likely already know. This also includes some undervalued dividend stocks you can snap up for a bargain after their selloffs. Let’s start!
Public Storage (PSA)
Source: Ken Wolter / Shutterstock.com
At first glance, Public Storage (NYSE:PSA) may appear like a risky option in the world of real estate investment trusts (REITs). However, this self-storage stalwart operates with far less volatility than most commercial or residential real estate funds. Demand for storage has grown steadily amid a booming U.S. economy and population growth. Physical storage needs will only intensify in the coming decades as more blue-collar sectors thrive.
Public Storage is perfectly positioned to capitalize as a leading storage provider. Shares have declined 40% from their peak, creating substantial upside from the stock’s current $269 price tag. The company’s generous 4.5% dividend yield also leaves income potential. Payouts should continue rising, given impressive profitability and growth trends. Thus, Public Storage represents a relatively safe, growing business that is undeserving of its selloff. The predictable nature of self-storage stands out against a turbulent real estate backdrop. Steady demand and pricing power should continue driving predictable cash flows. Therefore, the bottom appears to be in for this dividend stalwart.
Innovative Industrial Properties (IIPR)
Source: gvictoria / Shutterstock.com
Like Public Storage, Innovative Industrial Properties’ (NYSE:IIPR) cannabis-linked real estate focus makes it appear riskier than typical REITs. However, leasing industrial space to pot growers somewhat insulates IIPR from traditional property market swings. Highly volatile cannabis stocks dominate the headlines, but IIPR’s indirect approach looks opportunistic after its 75% plunge.
The REIT’s jaw-dropping yield says markets expect tenants to miss rent payments. But the trust’s substantial collection rate and rising payouts signal otherwise. While challenges exist industrywide, top multi-state operators seem to be on solid enough ground to easily cover rent. Preferred access to specialized growing facilities also gives tenants a major incentive to pay IIPR before other expenses.
Ultimately, fears around this stock appear to be overblown, given reasonable rent coverage ratios for most tenants. Providing an 8.25% yield effectively compensates investors for the risk they’re taking. Accordingly, from my perspective, this stock’s return profile looks very attractive for long-term, income-focused investors.
AT&T (T)
Source: Shutterstock
AT&T (NYSE:T) seems poised for a long-awaited breakout after years of declines. While the telecom giant has constantly frustrated shareholders with drama and distractions, improving wireless and fiber trends signal a coming wave of growth and value creation. Trading at less than 7-times earnings, I believe T stock pricing largely reflects the negatives rather than enormous untapped potential.
The company’s generous 6.5% dividend yield adds stability for patient investors until catalysts gain traction. AT&T continues expanding its next-generation 5G and fiber networks to meet surging data demand. As those capital-intensive investments moderate, cash generation may explode higher. The company also expects to achieve $2 billion in cost savings within three years.
I believe AT&T makes for an ideal recovery and turnaround candidate at current levels. Management aims to pay down debt and return excess cash to shareholders once it hits target leverage ratios. With wireless competition easing and years of underperformance baked in, this telecom titan is positioned to deliver sustained capital appreciation alongside a rock-solid dividend.
Watsco (WSO)
Source: Casimiro PT / Shutterstock.com
Watsco’s (NYSE:WSO) modest 2.5% dividend yield seems relatively low at first glance. However, in my view, the stock remains a compelling buy based on its standout capital appreciation potential. Watsco has emerged as one of the strongest performers across the entire market, with WSO stock surging 55% this year. Strength is owed partly to the record summer heat, which drove demand for air conditioning products.
Looking ahead, climate change trends point towards sustaining tailwinds regardless of one’s views. Analysts also forecast healthy, accelerating long-term growth for Watsco’s niche AC distribution business. Thus, I believe the company’s modest starting yield could grow into a significant income stream when combined with an ongoing upside in stock prices. Of course, risks exist, but WSO seems poised to continue capitalizing on natural tailwinds from rising temperatures.
Watsco’s dividend growth and stock appreciation potential make it well worth holding for the long-run.
AbbVie (ABBV)
Source: Piotr Swat / Shutterstock.com
As one of the pharmaceutical sector’s largest players, AbbVie (NYSE:ABBV) provides immense dividend reliability. Unlike more speculative names listed here, this stock prioritizes dividends over capital gains. After all, few industries boast cash flow consistency comparable to biopharma companies with diverse drug portfolios. Even with the U.S. Humira patent expiration in play, AbbVie has only strengthened its cash generation capabilities.
With its high 4.3% forward yield and Dividend King status, AbbVie seems poised to deliver years of payout growth ahead. Healthcare tends to endure recessions better than other sectors as well. Therefore, while the upside appears limited, I believe AbbVie remains a low-volatility, high-yield pick suitable for nearly any dividend-focused portfolio. AbbVie looks like an ideal pick for income and stability. The days of sky-high growth may have passed, but strong and growing dividends seem highly sustainable for long-term investors.
Enterprise Products Partners (EPD)
Source: Casimiro PT / Shutterstock.com
No energy stock provides immunity from oil and gas volatility, as recent years have repeatedly proven. Nonetheless, Enterprise Products Partners (NYSE:EPD) is slowly recovering to pre-pandemic valuation levels. Enterprise Products has delivered slow but steady share price progress since initial 2020 lows. And with revenue basically doubling from 2020 to 2022, the company’s operating business shows momentum that looks sustainable as well. Despite a projected 2023 revenue pullback, analysts’ models see top-line growth resuming in 2024 and beyond as higher oil prices persist.
EPD stock features a 7.5% dividend yield, which also leads its midstream peer group. With 26 consecutive annual payout hikes, the company clearly prioritizes dividend distributions through ups and downs. Ultimately, Enterprise Products’ combination of cash flow consistency, yield magnitude, and conservative operations warrant income investor consideration. In my view, Enterprise Products Partners remains a rock-solid midstream pick as energy markets stabilize.
Tyson Foods (TSN)
Source: rblfmr / Shutterstock.com
Like many food producers, Tyson Foods (NYSE:TSN) has battled agricultural commodity volatility in recent years. Following a surge in meat and poultry prices, the company now contends with falling prices and resulting profit pressures. However, with shares having priced in the deceleration of earnings, Tyson seems poised to provide some nice upside as demand recovers.
The company’s valuation also looks highly attractive, with Tyson’s forward price-earnings ratio sitting below 12-times. Tyson also pays 4% dividend yield after 12 consecutive annual hikes, providing income as investors wait. So, while macro uncertainty lingers, I believe the stock’s risk/reward profile skews positively for long-term investors right now. Tyson boasts a diversified protein portfolio, economies of scale, and agora-food demand tailwinds that should ultimately drive a rebound over time.
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.
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. Here’s How to Get In.
The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post 7 High-Dividend Stocks to Buy for a Lifetime of Passive Income appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While the telecom giant has constantly frustrated shareholders with drama and distractions, improving wireless and fiber trends signal a coming wave of growth and value creation. With wireless competition easing and years of underperformance baked in, this telecom titan is positioned to deliver sustained capital appreciation alongside a rock-solid dividend. Enterprise Products Partners (EPD) Source: Casimiro PT / Shutterstock.com No energy stock provides immunity from oil and gas volatility, as recent years have repeatedly proven.
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Innovative Industrial Properties (IIPR) Source: gvictoria / Shutterstock.com Like Public Storage, Innovative Industrial Properties’ (NYSE:IIPR) cannabis-linked real estate focus makes it appear riskier than typical REITs. Watsco (WSO) Source: Casimiro PT / Shutterstock.com Watsco’s (NYSE:WSO) modest 2.5% dividend yield seems relatively low at first glance. Enterprise Products Partners (EPD) Source: Casimiro PT / Shutterstock.com No energy stock provides immunity from oil and gas volatility, as recent years have repeatedly proven.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips As investors, we always strive to build a well-balanced portfolio that can provide stability through various economic cycles. While high-flying growth stocks generate all the hype these days (and deservedly so), defensive dividend stocks remain essential to provide a steady stream of income, as well as stability. Thus, I believe the company’s modest starting yield could grow into a significant income stream when combined with an ongoing upside in stock prices.
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That’s particularly true when markets become volatile. Public Storage is perfectly positioned to capitalize as a leading storage provider. In my view, Enterprise Products Partners remains a rock-solid midstream pick as energy markets stabilize.
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bffa2cb0-1c64-432a-8320-19b7b680efc5
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714420.0
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2023-12-06 00:00:00 UTC
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GameStop misses revenue estimates on faltering videogame demand
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DCOMP
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https://www.nasdaq.com/articles/gamestop-misses-revenue-estimates-on-faltering-videogame-demand
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nan
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Adds earnings details in paragraph 3, updates shares in paragraph 8
Dec 6 (Reuters) - GameStop GME.N missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model.
Sticky inflation and high borrowing costs have led to uneven spending in the gaming industry. Recently, two major players, including Take-Two Interactive Software TTWO.O, gave an underwhelming forecast.
GameStop, however, managed to post adjusted breakeven earnings per share for the third quarter, compared with estimates of a loss of 9 cents per share, according to LSEG data.
Its results are the first since top investor Ryan Cohen joined as CEO and chairman in late September, tightening his grip on the ailing company.
Cohen, who had initially tried to steer GameStop aggressively towards e-commerce, has backtracked on some of the plans and relied more on brick-and-mortar stores, using them as places where customers can pick up online orders.
GameStop reported revenue of $1.08 billion for the third quarter, compared with estimates of $1.18 billion, according to five analysts polled by LSEG.
Shares of the company fell nearly 1% in extended trading.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shinjini Ganguli)
((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds earnings details in paragraph 3, updates shares in paragraph 8 Dec 6 (Reuters) - GameStop GME.N missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model. Its results are the first since top investor Ryan Cohen joined as CEO and chairman in late September, tightening his grip on the ailing company. Cohen, who had initially tried to steer GameStop aggressively towards e-commerce, has backtracked on some of the plans and relied more on brick-and-mortar stores, using them as places where customers can pick up online orders.
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Adds earnings details in paragraph 3, updates shares in paragraph 8 Dec 6 (Reuters) - GameStop GME.N missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model. GameStop, however, managed to post adjusted breakeven earnings per share for the third quarter, compared with estimates of a loss of 9 cents per share, according to LSEG data. GameStop reported revenue of $1.08 billion for the third quarter, compared with estimates of $1.18 billion, according to five analysts polled by LSEG.
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Adds earnings details in paragraph 3, updates shares in paragraph 8 Dec 6 (Reuters) - GameStop GME.N missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model. GameStop, however, managed to post adjusted breakeven earnings per share for the third quarter, compared with estimates of a loss of 9 cents per share, according to LSEG data. GameStop reported revenue of $1.08 billion for the third quarter, compared with estimates of $1.18 billion, according to five analysts polled by LSEG.
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Sticky inflation and high borrowing costs have led to uneven spending in the gaming industry. Recently, two major players, including Take-Two Interactive Software TTWO.O, gave an underwhelming forecast. GameStop, however, managed to post adjusted breakeven earnings per share for the third quarter, compared with estimates of a loss of 9 cents per share, according to LSEG data.
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714421.0
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2023-12-06 00:00:00 UTC
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Mobileye, Goodyear Among Top Picks as Deutsche Bank Assesses Auto Stocks
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https://www.nasdaq.com/articles/mobileye-goodyear-among-top-picks-as-deutsche-bank-assesses-auto-stocks
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The auto industry has had its ups and downs lately, which has made it a bumpy run for car stocks so far in 2023.
Covering the scene for Deutsche Bank, analyst Emmanuel Rosner has taken a ‘powertrain agnostic’ approach; that is, he’s looking at the peripherals. Rosner sees openings for investors in the automotive equipment markets, noting that even in an economic downturn, our cars will still need add-ons in safety tech and basics like tires.
Describing the industry’s condition, Rosner writes, “After lots of ups and downs for the sector in 2023, including some positive momentum on volume recovery, high hopes for EV adoption, resilient vehicle pricing, but also UAW labor negotiation and strikes, and EV/AV slowdown, we do not expect the 2024 environment to become materially easier.”
He goes on to add some specifics for investors to consider, saying, “We view the lack of LVP growth and often adverse vehicle mix, cuts to EV expectations, and large labor cost inflation as top of mind heading into 2024. As such, among OEMs and suppliers, we favor names that are powertrain agnostic, and with strong self-help, broader diversification in customer mix, geographical and end market exposure.”
We’re taking Rosner’s advice, and following his recommendations on two particular auto stocks, which he classes as ‘top picks’ for Deutsche Bank.
In fact, Rosner is not the only one singing these stocks’ praises. According to the TipRanks platform – they are rated as Strong Buys by the Street’s analysts. Let’s take a closer look.
Don’t miss
Here Are 3 Favorite Stock Ideas From Deutsche Bank — Including One With 60% Upside Potential
Bank of America Says the S&P 500 Will Hit a New Record High in 2024 — Here Are 2 Stocks to Play That Bullish Sentiment
These 3 stocks are Cowen’s best ideas for 2024 including AstraZeneca and Datadog
Mobileye Global (MBLY)
First up is Mobileye, a tech company that has built itself into the gold standard for automotive sensor and driver assistance technologies. Mobileye’s sensors can be either factory installed or retro-fitted to existing vehicles; either way, the system helps drivers maintain a safe distance from potential road hazards, everything from other cars to lane markers, road shoulders, and crash barriers. The company has working arrangements with over 50 of the industry’s original equipment manufacturers, and Mobileye sensors are installed on more than 125 million vehicles globally.
The basic idea behind Mobileye’s system was simple: high-end digital cameras could become the ‘eyes’ of the car, and the central feature of a life-saving driver-assistance technology. That idea has borne fruit, leading to a line of Mobileye products scalable for vehicles of all sizes and purposes. The company has really come into its own in the autonomous vehicle niche, where the Mobileye sensor systems are used to provide a superior level of 360-degree, all-condition vision for self-driving cars.
For customers, the system offers options to fit the skill levels and preferences of all drivers. Customers can choose front and rear cameras, 360-degree vision coverage, and LiDAR sensors for improved vision at night and in adverse weather conditions.
Demand for improved safety technology is up in the automotive industry, and Mobileye has been driving that toward improved revenue and earnings over the past several quarters. In the company’s last quarterly financial release for 3Q23, the top-line revenue came to $530 million; this beat the forecast by $2.12 million and also grew by nearly 18% year-over-year. At the bottom line, Mobileye brought in a non-GAAP earnings per share of 22 cents, scoring 5 cents ahead of the pre-release estimates. For 2023, through the end of Q3, Mobileye reported a sound balance sheet, generating $285 million in net cash from operations and finishing the third quarter with $1.2 billion in cash and liquid assets – and no debt.
All in all, Rosner points out that Mobileye’s solutions are a perfect fit for the likely evolution of the auto industry, and he writes, “We believe MBLY is one of the ‘last man’ standing in vehicle autonomy, with solutions essentially powertrain-agnostic and equal CPV in an EV or ICE alike. Indeed, as Cruise’s fallout demonstrates the reality of challenging commercialization of true robotaxis, we believe MBLY’s modular and scalable approach to higher ADAS in a cost effective manner may become increasingly appetizing to global OEMs. The company has indicated that it is speaking to 10 OEMs that represent 34% of global production, and has high confidence that several of these programs will be converted to firm orders in the next 5-6 months.”
“As customer design wins are expected to come in the next few months, we believe the company has large potential positive catalysts on the near horizon to demonstrate its considerable potential for long-term growth,” Rosner added.
Looking ahead, the Deutsche Bank analyst sees this stock fit for a Buy rating, with a $50 price target to imply a 25% upside in the next 12 months. (To watch Rosner’s track record, click here)
Overall, the Strong Buy consensus rating here is based on 14 analyst reviews, with a lopsided ratio of 13 Buy recommendations to 1 Hold recommendation. The shares are currently trading at $39.89, and the average price target of $50.50 suggests a potential gain of 27% in the coming year. (See Mobileye stock forecast)
Goodyear Tire (GT)
The second stock we’ll look at here, Goodyear Tire, is one of the world’s iconic brands, known for its quality products – and for its eponymous Goodyear Blimp that has long been a staple at sporting events and parades. Goodyear got its start ‘way back in 1898, and over the past 125 years, the firm’s operations have grown to encompass 57 facilities in 23 countries, employing some 74,000 people. Goodyear has long been the largest tire company in the US market and is consistently ranked among the top five tire companies globally.
Goodyear’s business benefits from two underlying facts of all modern vehicles: that they won’t go anywhere without good tires, and that those tires will wear out and need replacing. This makes Goodyear’s chief product an essential item in much of the world, with a large and expanding market. In dollar terms, the automotive tire market was valued at $126 billion in 2022, and that number is expected to reach $176 billion by 2027. That’s a large market, and growth of $10 billion annually gives plenty of room to grow with the market.
In addition to the natural growth of the tire industry, Goodyear is finding support from an unexpected direction – the push to expand the role of EVs on our roads. Due to their large battery packs, EVs are typically heavier than combustion-engine vehicles in the same class, which means they wear out their tires faster and require a more rapid replacement cycle – and that in turn means increased business for tire companies like Goodyear.
When we look at Goodyear’s last few years’ worth of revenue data, we find that the company’s top line has been remarkably stable – at or near $5 billion per quarter – and that makes sense in light of the steady demand for car tires. Earnings have been more volatile, responding to shifts in product pricing and availability and costs of raw materials. A look at the last quarter reported, 3Q23, shows that Goodyear brought in $5.14 billion at the top line; this was 3% below the year-ago figure and almost $140 million under the forecast. The bottom line came to 36 cents per share by non-GAAP measures, beating the estimates by 17 cents per share.
Shares in GT are up 39% so far this year, and have been trending upward since early November. The stock got a boost in part from Deutsche Bank’s assessment, that the rally will likely continue, and analyst Rosner explains the bank’s position, saying, “With a credible operational turnaround path, strategic portfolio optimization through large noncore divestitures, and new leadership coming in to execute, we see strong potential for the company to improve its profitability and narrow the gap with its peers through self-help, de-leverage its balance sheet, and unlock large shareholder value.”
In fact, Rosner believes that Goodyear is uniquely positioned to deliver strong growth, and he doesn’t hold back form describing that potential: “Indeed, after years of chronic underperformance, we believe Goodyear has the potential to become one of more compelling investments in US autos over the next year, reflecting its idiosyncratic opportunity to fix profitability and cut leverage through well-identified self-help actions, under new leadership. Goodyear also is a powertrain-agnostic turnaround story, without the uncertainty of an EV slow-down.”
The analyst goes on to rate GT shares as a Buy, and he sets a $21 price target that points toward a 49% upside for the stock on the one-year horizon. (To watch Rosner’s track record, click here)
Overall, this is a stock that has slipped under the radar a bit, it only has 4 recent analyst reviews, but those reviews have a 3 to 1 split favoring Buys against Holds for a Strong Buy consensus. The average target price here, $17.95, implies a 27% one-year increase from the current share price of $14.09. (See Goodyear stock forecast)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As such, among OEMs and suppliers, we favor names that are powertrain agnostic, and with strong self-help, broader diversification in customer mix, geographical and end market exposure.” We’re taking Rosner’s advice, and following his recommendations on two particular auto stocks, which he classes as ‘top picks’ for Deutsche Bank. Indeed, as Cruise’s fallout demonstrates the reality of challenging commercialization of true robotaxis, we believe MBLY’s modular and scalable approach to higher ADAS in a cost effective manner may become increasingly appetizing to global OEMs. The stock got a boost in part from Deutsche Bank’s assessment, that the rally will likely continue, and analyst Rosner explains the bank’s position, saying, “With a credible operational turnaround path, strategic portfolio optimization through large noncore divestitures, and new leadership coming in to execute, we see strong potential for the company to improve its profitability and narrow the gap with its peers through self-help, de-leverage its balance sheet, and unlock large shareholder value.” In fact, Rosner believes that Goodyear is uniquely positioned to deliver strong growth, and he doesn’t hold back form describing that potential: “Indeed, after years of chronic underperformance, we believe Goodyear has the potential to become one of more compelling investments in US autos over the next year, reflecting its idiosyncratic opportunity to fix profitability and cut leverage through well-identified self-help actions, under new leadership.
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Describing the industry’s condition, Rosner writes, “After lots of ups and downs for the sector in 2023, including some positive momentum on volume recovery, high hopes for EV adoption, resilient vehicle pricing, but also UAW labor negotiation and strikes, and EV/AV slowdown, we do not expect the 2024 environment to become materially easier.” He goes on to add some specifics for investors to consider, saying, “We view the lack of LVP growth and often adverse vehicle mix, cuts to EV expectations, and large labor cost inflation as top of mind heading into 2024. Looking ahead, the Deutsche Bank analyst sees this stock fit for a Buy rating, with a $50 price target to imply a 25% upside in the next 12 months. (See Goodyear stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
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Don’t miss Here Are 3 Favorite Stock Ideas From Deutsche Bank — Including One With 60% Upside Potential Bank of America Says the S&P 500 Will Hit a New Record High in 2024 — Here Are 2 Stocks to Play That Bullish Sentiment These 3 stocks are Cowen’s best ideas for 2024 including AstraZeneca and Datadog Mobileye Global (MBLY) First up is Mobileye, a tech company that has built itself into the gold standard for automotive sensor and driver assistance technologies. (See Mobileye stock forecast) Goodyear Tire (GT) The second stock we’ll look at here, Goodyear Tire, is one of the world’s iconic brands, known for its quality products – and for its eponymous Goodyear Blimp that has long been a staple at sporting events and parades. The stock got a boost in part from Deutsche Bank’s assessment, that the rally will likely continue, and analyst Rosner explains the bank’s position, saying, “With a credible operational turnaround path, strategic portfolio optimization through large noncore divestitures, and new leadership coming in to execute, we see strong potential for the company to improve its profitability and narrow the gap with its peers through self-help, de-leverage its balance sheet, and unlock large shareholder value.” In fact, Rosner believes that Goodyear is uniquely positioned to deliver strong growth, and he doesn’t hold back form describing that potential: “Indeed, after years of chronic underperformance, we believe Goodyear has the potential to become one of more compelling investments in US autos over the next year, reflecting its idiosyncratic opportunity to fix profitability and cut leverage through well-identified self-help actions, under new leadership.
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The company has really come into its own in the autonomous vehicle niche, where the Mobileye sensor systems are used to provide a superior level of 360-degree, all-condition vision for self-driving cars. Goodyear has long been the largest tire company in the US market and is consistently ranked among the top five tire companies globally. Goodyear also is a powertrain-agnostic turnaround story, without the uncertainty of an EV slow-down.” The analyst goes on to rate GT shares as a Buy, and he sets a $21 price target that points toward a 49% upside for the stock on the one-year horizon.
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714422.0
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2023-12-06 00:00:00 UTC
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Veeva Systems (VEEV) Q3 Earnings and Revenues Top Estimates
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DCOMP
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https://www.nasdaq.com/articles/veeva-systems-veev-q3-earnings-and-revenues-top-estimates
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Veeva Systems (VEEV) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4.69%. A quarter ago, it was expected that this provider of cloud-based software services for the life sciences industry would post earnings of $1.12 per share when it actually produced earnings of $1.21, delivering a surprise of 8.04%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Veeva, which belongs to the Zacks Internet - Software industry, posted revenues of $616.51 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.10%. This compares to year-ago revenues of $552.35 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.
Veeva shares have added about 10.3% since the beginning of the year versus the S&P 500's gain of 19%.
What's Next for Veeva?
While Veeva 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 Veeva: 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 $1.26 on $623.04 million in revenues for the coming quarter and $4.68 on $2.36 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, Internet - Software is currently in the top 14% 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.
Smartsheet (SMAR), another stock in the same industry, has yet to report results for the quarter ended October 2023. The results are expected to be released on December 7.
This maker of a cloud-based work-management platform is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +900%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Smartsheet's revenues are expected to be $241.1 million, up 20.8% 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
Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
Smartsheet (SMAR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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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 maker of a cloud-based work-management platform is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +900%.
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Veeva, which belongs to the Zacks Internet - Software industry, posted revenues of $616.51 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.10%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Click to get this free report Veeva Systems Inc. (VEEV) : Free Stock Analysis Report Smartsheet (SMAR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Veeva Systems (VEEV) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.28 per share. Veeva, which belongs to the Zacks Internet - Software industry, posted revenues of $616.51 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.10%. Click to get this free report Veeva Systems Inc. (VEEV) : Free Stock Analysis Report Smartsheet (SMAR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Veeva Systems (VEEV) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.28 per share. Veeva, which belongs to the Zacks Internet - Software industry, posted revenues of $616.51 million for the quarter ended October 2023, surpassing the Zacks Consensus Estimate by 0.10%. 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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2023-12-06 00:00:00 UTC
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Q4 Earnings: What Can Investors Expect?
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DCOMP
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https://www.nasdaq.com/articles/q4-earnings%3A-what-can-investors-expect-0
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nan
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Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Here are the key points:
Q4 earnings for the S&P 500 index are currently expected to be up +0.1% from the year-earlier level on +2.3% higher revenues, which would follow the +3.4% earnings growth in 2023 Q3 on +2.0% higher revenues.
Earnings estimates for Q4 have been steadily coming down since the quarter got underway, with the current +0.1% growth pace down from +5.5% in early October. This is a bigger decline in earnings estimates compared to what we saw in the comparable periods for the first three quarters of 2023.
The negative revisions trend for Q4 is fairly broad-based, with earnings estimates for 12 of the 16 Zacks sectors coming down since the quarter got underway.
The Q3 earnings season isn’t officially finished yet, with results from 6 S&P 500 members still awaited. Earnings growth turned positive in Q3 after three back-to-back quarters of declines.
The Q3 earnings season showed that the overall earnings picture was stable and largely positive. Earnings growth for the S&P 500 index, which was negative for three back-to-back quarters, turned positive in Q3.
One major sector whose results really stood out in Q3 was the Tech sector, whose earnings increased +24.5% from the same period last year on +4.7% higher revenues. The sector had been going through a profitability drought since the start of 2022, but appears on track to resume its traditional growth attributes going forward, with double-digit earnings growth expected in each of the coming quarters.
For the current period (2023 Q4), the expectation is for S&P 500 earnings to be up +0.1% from the same period last year on +2.3% higher revenues.
The chart below shows how estimates for 2023 Q4 have evolved since the quarter got underway.
Image Source: Zacks Investment Research
This is a bigger decline in quarterly estimates compared to what we had seen in the comparable periods to either of the preceding two quarters. This is a reversal of the favorable revisions trend we have spotlighted in this space since April 2023.
Not only is there a bigger magnitude of cuts to Q4 estimates, but the pressure is also widespread, with estimates for 12 of the 16 Zacks getting cut since the start of October. The most significant cuts to estimates have been for the Autos, Medical, Consumer Discretionary, Transportation, and Basic Materials sectors.
We noted Disney DIS from the Consumer Discretionary sector and United Airlines UAL from the Transportation sector as examples of the aforementioned negative revisions trend.
The current Q4 Zacks Consensus EPS for Disney of $1.04 is down from $1.13 a month ago and $1.39 two months back. Disney shares were up following last week’s better-than-expected results, but the company’s near-term earnings outlook is under pressure.
The negative revisions trend is even more pronounced for United Airlines, which is currently expected to bring in $1.73 per share, down from $2.46 per share in the year-earlier period. United’s $1.73 estimate is down from $2.33 two months ago and $2.94 three months back.
You can see the pressure on full-year 2024 earnings estimates in the chart below, which shows the aggregate earnings estimates for the S&P 500 index since mid-May 2024.
Image Source: Zacks Investment Research
The chart below shows the overall earnings picture on a quarterly basis.
Image Source: Zacks Investment Research
As you can see from these quarterly earnings-growth expectations, the long-feared recession doesn’t appear in this near-term earnings outlook.
Below, we show the overall earnings picture for the S&P 500 index on an annual basis.
Image Source: Zacks Investment Research
This big-picture view of corporate profitability doesn’t leave much room for that development either, as shown in the chart above. That said, we know that macroeconomic growth is moderating, which should have a negative impact on estimates. We showed earlier how estimates for the current and coming periods have started coming down lately, a trend that will most likely remain in place for some time.
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 Airlines Holdings Inc (UAL) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The negative revisions trend for Q4 is fairly broad-based, with earnings estimates for 12 of the 16 Zacks sectors coming down since the quarter got underway. Image Source: Zacks Investment Research As you can see from these quarterly earnings-growth expectations, the long-feared recession doesn’t appear in this near-term earnings outlook. Image Source: Zacks Investment Research This big-picture view of corporate profitability doesn’t leave much room for that development either, as shown in the chart above.
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Image Source: Zacks Investment Research This is a bigger decline in quarterly estimates compared to what we had seen in the comparable periods to either of the preceding two quarters. We noted Disney DIS from the Consumer Discretionary sector and United Airlines UAL from the Transportation sector as examples of the aforementioned negative revisions trend. Click to get this free report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>> Here are the key points: Q4 earnings for the S&P 500 index are currently expected to be up +0.1% from the year-earlier level on +2.3% higher revenues, which would follow the +3.4% earnings growth in 2023 Q3 on +2.0% higher revenues. The negative revisions trend for Q4 is fairly broad-based, with earnings estimates for 12 of the 16 Zacks sectors coming down since the quarter got underway. You can see the pressure on full-year 2024 earnings estimates in the chart below, which shows the aggregate earnings estimates for the S&P 500 index since mid-May 2024.
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The negative revisions trend for Q4 is fairly broad-based, with earnings estimates for 12 of the 16 Zacks sectors coming down since the quarter got underway. Image Source: Zacks Investment Research The chart below shows the overall earnings picture on a quarterly basis. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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714424.0
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2023-12-06 00:00:00 UTC
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EXCLUSIVE-AbbVie nears roughly $8 billion for drug developer Cerevel-sources
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DCOMP
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https://www.nasdaq.com/articles/exclusive-abbvie-nears-roughly-%248-billion-for-drug-developer-cerevel-sources
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nan
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nan
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NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday.
AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said.
If the negotiations conclude successfully, a deal could be announced as early as this week, the sources added, requesting anonymity because the matter is confidential.
AbbVie and Cerevel did not immediately respond to requests for comment.
(Reporting by David Carnevali in New York Editing by Greg Roumeliotis)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said. If the negotiations conclude successfully, a deal could be announced as early as this week, the sources added, requesting anonymity because the matter is confidential.
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NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. AbbVie and Cerevel did not immediately respond to requests for comment. (Reporting by David Carnevali in New York Editing by Greg Roumeliotis) ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said. (Reporting by David Carnevali in New York Editing by Greg Roumeliotis) ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEW YORK, Dec 6 (Reuters) - AbbVie Inc ABBV.N is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc CERE.O, a developer of drugs for neurological conditions such as Parkinson's, people familiar with the matter said on Wednesday. AbbVie is in talks to pay around $45 per share for Cerevel, which is backed by private equity firm Bain Capital, the sources said. If the negotiations conclude successfully, a deal could be announced as early as this week, the sources added, requesting anonymity because the matter is confidential.
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d42f1760-e248-437e-982e-df726580eb38
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714425.0
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2023-12-06 00:00:00 UTC
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ASML (ASML) Stock Moves -0.35%: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/asml-asml-stock-moves-0.35%3A-what-you-should-know
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nan
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The most recent trading session ended with ASML (ASML) standing at $692.08, reflecting a -0.35% shift from the previouse trading day's closing. This change was narrower than 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%.
Shares of the equipment supplier to semiconductor makers witnessed a gain of 9.15% over the previous month, beating 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 ASML in its upcoming earnings disclosure. The company's upcoming EPS is projected at $5.10, signifying an 8.51% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $7.34 billion, reflecting a 11.76% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $20.75 per share and revenue of $28.82 billion, indicating changes of +39.36% and +24.91%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for ASML. 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 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, 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 has shifted 0.63% upward. Right now, ASML possesses a Zacks Rank of #3 (Hold).
In terms of valuation, ASML is presently being traded at a Forward P/E ratio of 33.47. This expresses a premium compared to the average Forward P/E of 22.47 of its industry.
Also, we should mention that ASML has a PEG ratio of 1.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.59.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
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
ASML Holding N.V. (ASML) : 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 $7.34 billion, reflecting a 11.76% rise from the equivalent quarter last year. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.59.
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The most recent trading session ended with ASML (ASML) standing at $692.08, reflecting a -0.35% shift from the previouse trading day's closing. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.59. Click to get this free report ASML Holding N.V. (ASML) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The most recent trading session ended with ASML (ASML) standing at $692.08, reflecting a -0.35% shift from the previouse trading day's closing. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
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The most recent trading session ended with ASML (ASML) standing at $692.08, reflecting a -0.35% shift from the previouse trading day's closing. This industry currently has a Zacks Industry Rank of 92, which puts 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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bcefcc1f-423d-41c4-8d29-1c129f649a6c
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714426.0
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2023-12-06 00:00:00 UTC
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Small Cap, Big Potential: 3 Russell 2000 Stocks to Watch
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https://www.nasdaq.com/articles/small-cap-big-potential%3A-3-russell-2000-stocks-to-watch
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Small-cap stocks are a good option for investors looking to gain exposure to typically newer companies offering niche products and services that may have the potential for massive share price appreciation. But, these companies are also risky because they are more susceptible to collapse from financial instability, mismanagement and an economic downturn. Investors need to understand their risk tolerance and whether buying shares in small-cap companies is worth it.
The three stocks I discuss below are all within the Russell 2000, a stock market index comprised of 2000 small-cap stocks. These Russell 2000 stocks have had large growth in 2023 so far and are poised to keep that momentum moving forward.
Sprouts Farmers Market (SFM)
Source: Ken Wolter / Shutterstock.com
Sprouts Farmers Market (NASDAQ:SFM), headquartered in Phoenix, Arizona, is a food retailer that supplies its customers with fresh, natural and organic food products such as produce, meat, baked goods, supplements, frozen foods and health products. The company has over 400 stores in 23 states, 10 of which were opened during the third quarter.
Over the last year, the company saw a 34% increase in its share price. That was due to share buybacks, new store locations and improved finances. On October 31, Sprouts released its earnings results for Q3 2023. It reported a revenue increase of 8%, and its net income remained relatively unchanged compared to 2022. Sprouts also repurchased 831,000 shares during the third quarter of this year.
SFM is a great stock with steady growth and a firm placement in the growing trend of consumers turning to healthier food options. It partnered with DoorDash (NASDAQ:DASH) back in 2022 to allow on-demand grocery delivery from Sprouts Farmers Market locations. That move greatly improved Sprouts’ positive outlook for the future.
ImmunoGen (IMGN)
Source: shutterstock.com/Romix Image
ImmunoGen (NASDAQ:IMGN) is a biotech company located in Waltham, Massachusetts, that produces therapies like anti-body drug conjugates that target cancer cells.
ImmunoGen’s share price skyrocketed by 83% following the news that AbbVie will acquire the company (NYSE:ABBV) — one of the largest healthcare companies — in an all-stock transaction totaling just over $10 billion. AbbVie will also acquire ImmunoGen’s late-stage cancer drug Elahere, which will improve its tumor treatment portfolio.
The company’s third-quarter earnings report showed total revenue grew sevenfold compared to the year before. Due to a combination of acquisition news and positive earnings, InmmunoGen has seen its share price surge over 450% within the last year.
Duolingo (DUOL)
Source: dennizn / Shutterstock
Duolingo (NASDAQ:DUOL), located in Pittsburgh, Pennsylvania, is an education service provider with a popular language learning platform primarily through its mobile app. It provides courses teaching roughly 40 languages. Recently, it has expanded into offering music and updated math courses through its mobile app.
Throughout 2023, Duolingo has been soaring; its share price has more than tripled year-to-date due to improved financial results and a substantial increase in its user base. On November 8, it posted earnings for the third quarter, showing total revenue increased by 43%. Duolingo’s paid subscribers and daily active users grew by over 60% compared to the year before. And Duolingo announced raised full-year guidance due to their very positive metrics.
Duolingo owns the most popular language-learning mobile app, with nearly 25 million daily active users. With the company’s expansion into other subjects, the significant growth will likely be with paid subscribers, which sits at roughly 6 million, and its net income growth. That sets up Duolingo for a great future.
As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing with topics such as the stock market andfinancial news
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The post Small Cap, Big Potential: 3 Russell 2000 Stocks to Watch 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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SFM is a great stock with steady growth and a firm placement in the growing trend of consumers turning to healthier food options. He’s worked with Investopedia dealing with topics such as the stock market andfinancial news More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. 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 Small Cap, Big Potential: 3 Russell 2000 Stocks to Watch appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Small-cap stocks are a good option for investors looking to gain exposure to typically newer companies offering niche products and services that may have the potential for massive share price appreciation. Sprouts Farmers Market (SFM) Source: Ken Wolter / Shutterstock.com Sprouts Farmers Market (NASDAQ:SFM), headquartered in Phoenix, Arizona, is a food retailer that supplies its customers with fresh, natural and organic food products such as produce, meat, baked goods, supplements, frozen foods and health products. The company’s third-quarter earnings report showed total revenue grew sevenfold compared to the year before.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Small-cap stocks are a good option for investors looking to gain exposure to typically newer companies offering niche products and services that may have the potential for massive share price appreciation. Sprouts Farmers Market (SFM) Source: Ken Wolter / Shutterstock.com Sprouts Farmers Market (NASDAQ:SFM), headquartered in Phoenix, Arizona, is a food retailer that supplies its customers with fresh, natural and organic food products such as produce, meat, baked goods, supplements, frozen foods and health products. ImmunoGen’s share price skyrocketed by 83% following the news that AbbVie will acquire the company (NYSE:ABBV) — one of the largest healthcare companies — in an all-stock transaction totaling just over $10 billion.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Small-cap stocks are a good option for investors looking to gain exposure to typically newer companies offering niche products and services that may have the potential for massive share price appreciation. Over the last year, the company saw a 34% increase in its share price. Throughout 2023, Duolingo has been soaring; its share price has more than tripled year-to-date due to improved financial results and a substantial increase in its user base.
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f56a0db2-2843-463c-86c6-0554c4b90835
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714427.0
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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: OZK, PYPL, LULU
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-ozk-pypl-lulu
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Bank OZK (Symbol: OZK), where a total volume of 10,930 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 145.4% of OZK's average daily trading volume over the past month, of 751,805 shares. Especially high volume was seen for the $40 strike put option expiring February 16, 2024, with 4,012 contracts trading so far today, representing approximately 401,200 underlying shares of OZK. Below is a chart showing OZK's trailing twelve month trading history, with the $40 strike highlighted in orange:
PayPal Holdings Inc (Symbol: PYPL) saw options trading volume of 214,371 contracts, representing approximately 21.4 million underlying shares or approximately 143.2% of PYPL's average daily trading volume over the past month, of 15.0 million shares. Especially high volume was seen for the $61 strike call option expiring December 08, 2023, with 14,708 contracts trading so far today, representing approximately 1.5 million underlying shares of PYPL. Below is a chart showing PYPL's trailing twelve month trading history, with the $61 strike highlighted in orange:
And lululemon athletica inc (Symbol: LULU) options are showing a volume of 18,811 contracts thus far today. That number of contracts represents approximately 1.9 million underlying shares, working out to a sizeable 138.5% of LULU's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $415 strike put option expiring December 08, 2023, with 642 contracts trading so far today, representing approximately 64,200 underlying shares of LULU. Below is a chart showing LULU's trailing twelve month trading history, with the $415 strike highlighted in orange:
For the various different available expirations for OZK options, PYPL options, or LULU options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Ken Fisher Stock Picks
AFAM Insider Buying
Institutional Holders of EWEM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $40 strike put option expiring February 16, 2024, with 4,012 contracts trading so far today, representing approximately 401,200 underlying shares of OZK. Especially high volume was seen for the $61 strike call option expiring December 08, 2023, with 14,708 contracts trading so far today, representing approximately 1.5 million underlying shares of PYPL. Particularly high volume was seen for the $415 strike put option expiring December 08, 2023, with 642 contracts trading so far today, representing approximately 64,200 underlying shares of LULU.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Bank OZK (Symbol: OZK), where a total volume of 10,930 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing OZK's trailing twelve month trading history, with the $40 strike highlighted in orange: PayPal Holdings Inc (Symbol: PYPL) saw options trading volume of 214,371 contracts, representing approximately 21.4 million underlying shares or approximately 143.2% of PYPL's average daily trading volume over the past month, of 15.0 million shares. Especially high volume was seen for the $61 strike call option expiring December 08, 2023, with 14,708 contracts trading so far today, representing approximately 1.5 million underlying shares of PYPL.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Bank OZK (Symbol: OZK), where a total volume of 10,930 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing OZK's trailing twelve month trading history, with the $40 strike highlighted in orange: PayPal Holdings Inc (Symbol: PYPL) saw options trading volume of 214,371 contracts, representing approximately 21.4 million underlying shares or approximately 143.2% of PYPL's average daily trading volume over the past month, of 15.0 million shares. Especially high volume was seen for the $61 strike call option expiring December 08, 2023, with 14,708 contracts trading so far today, representing approximately 1.5 million underlying shares of PYPL.
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Below is a chart showing OZK's trailing twelve month trading history, with the $40 strike highlighted in orange: PayPal Holdings Inc (Symbol: PYPL) saw options trading volume of 214,371 contracts, representing approximately 21.4 million underlying shares or approximately 143.2% of PYPL's average daily trading volume over the past month, of 15.0 million shares. That number of contracts represents approximately 1.9 million underlying shares, working out to a sizeable 138.5% of LULU's average daily trading volume over the past month, of 1.4 million shares. Below is a chart showing LULU's trailing twelve month trading history, with the $415 strike highlighted in orange: For the various different available expirations for OZK options, PYPL options, or LULU options, visit StockOptionsChannel.com.
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9506b2dc-e985-4cbb-8c45-ef1e579d0c22
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714428.0
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2023-12-06 00:00:00 UTC
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AECOM Shares Approach 52-Week High - Market Mover
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https://www.nasdaq.com/articles/aecom-shares-approach-52-week-high-market-mover-2
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AECOM (ACM) shares closed today at 0.3% below its 52 week high of $91.80, giving the company a market cap of $12B. The stock is currently up 7.9% year-to-date, up 7.5% over the past 12 months, and up 213.8% 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 33.8% 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 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 , 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 lags the peer average by -37.8%
The company's stock price performance over the past 12 months lags the peer average by -31.5%
The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 954.7% 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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AECOM (ACM) shares closed today at 0.3% below its 52 week high of $91.80, giving the company a market cap of $12B. 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 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 lags the peer average by -37.8% The company's stock price performance over the past 12 months lags the peer average by -31.5% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 954.7% 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 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 lags the peer average by -37.8% The company's stock price performance over the past 12 months lags the peer average by -31.5% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 954.7% 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 , 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 lags the peer average by -37.8% The company's stock price performance over the past 12 months lags the peer average by -31.5% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 954.7% 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 , 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 lags the peer average by -37.8% The company's stock price performance over the past 12 months lags the peer average by -31.5% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 954.7% higher than the average peer.
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339214f0-ee86-49eb-86f9-ea050fa0bc04
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714429.0
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2023-12-06 00:00:00 UTC
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Nuclear backers pressure Biden to include industry in hydrogen tax break
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https://www.nasdaq.com/articles/nuclear-backers-pressure-biden-to-include-industry-in-hydrogen-tax-break
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nan
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By Nicole Jao and Timothy Gardner
NEW YORK/WASHINGTON, Dec 6 (Reuters) - The U.S. nuclear power industry is pressuring the administration of President Joe Biden to include existing reactors in a subsidy program for hydrogen, arguing that U.S. goals to jumpstart a "clean hydrogen" economy could fail without them.
The lobbying push reflects the big stakes for the nuclear industry, which has been struggling for years amid an upswing in low-cost electricity from natural gas-fired power plants and rapidly expanding wind and solar.
The U.S. Treasury is expected to issue guidance later this month on a hydrogen tax credit known as 45V that was outlined in the Inflation Reduction Act. The agency declined to comment.
So-called "green hydrogen" is a fuel made from water using electrolyzers; industry and government officials say it can be considered “clean” if its production is powered by virtually carbon-free energy sources like solar, wind, and nuclear.
Virtually no green hydrogen is produced now due to high costs. The Biden administration sees clean hydrogen as vital to tackling hard-to-decarbonize industries like aluminum and cement, and is offering production subsidies of $3 per kilogram through the Inflation Reduction Act.
The Treasury is weighing the details of the 45V credit, including a so-called "additionality" proposal backed by groups that support renewable energy that would make the perks available only to hydrogen producers that power their facilities with new, instead of existing, low-carbon energy sources.
A decision is expected later this month.
Deputy Secretary of Energy David Turk said at the COP28 summit in Dubai that agencies are split over the design of 45V. "It's a big tax credit. We have to get it right," Turk said.
RAISING THE STAKES
Proponents of additionality say diverting existing nuclear electricity from the power grid to produce hydrogen would leave a gap in power generation that would have to be made up by burning fossil fuels that cause climate change.
U.S. electricity grids will still need power if nuclear power is diverted to produce hydrogen, said Julie McNamara, deputy policy director with the Climate & Energy program at the Union of Concerned Scientists, a science-based advocacy group.
With the renewable energy capacity still nascent, this "means that the only thing that has the capacity to ramp up when that nuclear power is diverted for electrolysis is coal plants and gas plants," she said.
But nuclear industry backers say a more flexible approach is needed to make a hydrogen economy work.
“Allowing existing nuclear reactors to qualify will help ensure that clean hydrogen is available and affordable enough to be used by customers across a wide range of industries," Senator Tom Carper, a Democrat, said in a recent letter to Treasury Secretary Janet Yellen.
"It would be a huge unforced error to exclude existing nuclear from eligibility,” said Doug Vine, director of energy analysis at the environmental policy think tank the Center for Climate and Energy Solutions. Nuclear power is efficient at producing hydrogen as opposed to solar and wind power which is intermittent, Vine said.
Raising the stakes, the Department of Energy in October awarded $7 billion in grants to seven proposed clean hydrogen hubs as part of its strategy to jumpstart production. Three of the hubs plan to use existing nuclear.
Constellation CEG.O, a nuclear power plant operator, says it plans to build a $900 million clean hydrogen facility at its LaSalle plant in Illinois with a portion of the $1 billion hydrogen hub award it received for the Midwest.
"The economics of the project are such that you really need... access to the tax credit in order to make it work," said Mason Emnett, Constellation's senior vice president of public policy.
Xcel Energy XEL.O, a nuclear plant operator also set to receive money from the hub program, said in a recent letter to the Treasury that excluding existing facilities would limit the industry's ability to develop hydrogen.
(Reporting by Nicole Jao and Timothy Gardner; additional reporting by Valerie Volcovici; Editing by Aurora Ellis)
((Nicole.Jao@thomsonreuters.com; Timothy.Gardner@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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The lobbying push reflects the big stakes for the nuclear industry, which has been struggling for years amid an upswing in low-cost electricity from natural gas-fired power plants and rapidly expanding wind and solar. “Allowing existing nuclear reactors to qualify will help ensure that clean hydrogen is available and affordable enough to be used by customers across a wide range of industries," Senator Tom Carper, a Democrat, said in a recent letter to Treasury Secretary Janet Yellen. Xcel Energy XEL.O, a nuclear plant operator also set to receive money from the hub program, said in a recent letter to the Treasury that excluding existing facilities would limit the industry's ability to develop hydrogen.
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By Nicole Jao and Timothy Gardner NEW YORK/WASHINGTON, Dec 6 (Reuters) - The U.S. nuclear power industry is pressuring the administration of President Joe Biden to include existing reactors in a subsidy program for hydrogen, arguing that U.S. goals to jumpstart a "clean hydrogen" economy could fail without them. U.S. electricity grids will still need power if nuclear power is diverted to produce hydrogen, said Julie McNamara, deputy policy director with the Climate & Energy program at the Union of Concerned Scientists, a science-based advocacy group. Xcel Energy XEL.O, a nuclear plant operator also set to receive money from the hub program, said in a recent letter to the Treasury that excluding existing facilities would limit the industry's ability to develop hydrogen.
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By Nicole Jao and Timothy Gardner NEW YORK/WASHINGTON, Dec 6 (Reuters) - The U.S. nuclear power industry is pressuring the administration of President Joe Biden to include existing reactors in a subsidy program for hydrogen, arguing that U.S. goals to jumpstart a "clean hydrogen" economy could fail without them. The Treasury is weighing the details of the 45V credit, including a so-called "additionality" proposal backed by groups that support renewable energy that would make the perks available only to hydrogen producers that power their facilities with new, instead of existing, low-carbon energy sources. Constellation CEG.O, a nuclear power plant operator, says it plans to build a $900 million clean hydrogen facility at its LaSalle plant in Illinois with a portion of the $1 billion hydrogen hub award it received for the Midwest.
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By Nicole Jao and Timothy Gardner NEW YORK/WASHINGTON, Dec 6 (Reuters) - The U.S. nuclear power industry is pressuring the administration of President Joe Biden to include existing reactors in a subsidy program for hydrogen, arguing that U.S. goals to jumpstart a "clean hydrogen" economy could fail without them. So-called "green hydrogen" is a fuel made from water using electrolyzers; industry and government officials say it can be considered “clean” if its production is powered by virtually carbon-free energy sources like solar, wind, and nuclear. Constellation CEG.O, a nuclear power plant operator, says it plans to build a $900 million clean hydrogen facility at its LaSalle plant in Illinois with a portion of the $1 billion hydrogen hub award it received for the Midwest.
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418bddf1-a6e2-47f7-97d0-38fff5447f28
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714430.0
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2023-12-06 00:00:00 UTC
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Consumer Sector Update for 12/06/2023: WBUY, MCD, BF.A, BF.B, CPB
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DCOMP
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https://www.nasdaq.com/articles/consumer-sector-update-for-12-06-2023%3A-wbuy-mcd-bf.a-bf.b-cpb
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nan
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nan
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Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%.
In corporate news, Webuy Global (WBUY) shares plunged 61% after it said Wednesday it signed a non-binding agreement to buy a 51% stake in Indonesian fruit importer and wholesaler Tiga Sakti Utama for 800,000 of the company's ordinary shares with a lockup arrangement.
McDonald's (MCD) said it is targeting net new restaurant unit growth at 4% in 2024 and 4% to 5% annually afterward until reaching 50,000 restaurants globally by the end of 2027. Its shares were fractionally higher.
Brown-Forman's (BF.A, BF.B) class A and B shares fell around 10% after the company's fiscal Q2 sales fell short of market expectations, and the company lowered its fiscal 2024 outlook.
Campbell Soup's (CPB) shares jumped almost 7% after fiscal Q1 fiscal adjusted earnings topped estimates by analysts.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%. In corporate news, Webuy Global (WBUY) shares plunged 61% after it said Wednesday it signed a non-binding agreement to buy a 51% stake in Indonesian fruit importer and wholesaler Tiga Sakti Utama for 800,000 of the company's ordinary shares with a lockup arrangement. Brown-Forman's (BF.A, BF.B) class A and B shares fell around 10% after the company's fiscal Q2 sales fell short of market expectations, and the company lowered its fiscal 2024 outlook.
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Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%. McDonald's (MCD) said it is targeting net new restaurant unit growth at 4% in 2024 and 4% to 5% annually afterward until reaching 50,000 restaurants globally by the end of 2027. Brown-Forman's (BF.A, BF.B) class A and B shares fell around 10% after the company's fiscal Q2 sales fell short of market expectations, and the company lowered its fiscal 2024 outlook.
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Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%. In corporate news, Webuy Global (WBUY) shares plunged 61% after it said Wednesday it signed a non-binding agreement to buy a 51% stake in Indonesian fruit importer and wholesaler Tiga Sakti Utama for 800,000 of the company's ordinary shares with a lockup arrangement. Brown-Forman's (BF.A, BF.B) class A and B shares fell around 10% after the company's fiscal Q2 sales fell short of market expectations, and the company lowered its fiscal 2024 outlook.
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Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%. In corporate news, Webuy Global (WBUY) shares plunged 61% after it said Wednesday it signed a non-binding agreement to buy a 51% stake in Indonesian fruit importer and wholesaler Tiga Sakti Utama for 800,000 of the company's ordinary shares with a lockup arrangement. McDonald's (MCD) said it is targeting net new restaurant unit growth at 4% in 2024 and 4% to 5% annually afterward until reaching 50,000 restaurants globally by the end of 2027.
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51f9c6a6-39d0-44a8-a76f-47ff2d494823
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714431.0
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2023-12-06 00:00:00 UTC
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Financial Sector Update for 12/06/2023: BXMT, BLK, MA, JPM, GS, MS, CG, C
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DCOMP
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https://www.nasdaq.com/articles/financial-sector-update-for-12-06-2023%3A-bxmt-blk-ma-jpm-gs-ms-cg-c
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nan
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nan
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Financial stocks eased in late Wednesday afternoon trading with the NYSE Financial Index down 0.3%, erasing earlier gains, and the Financial Select Sector SPDR Fund (XLF) off 0.5%.
The Philadelphia Housing Index climbed 1.5% and the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.3%.
Bitcoin (BTC-USD) was little changed at $44,079, and the yield for 10-year US Treasuries dropped 5 basis points to 4.12%.
In economic news, ADP's monthly measure of private payrolls showed an increase of 103,000 in November, below expectations compiled by Bloomberg for a 130,000 gain and following a downwardly revised expansion of 106,000 in October.
In corporate news, Blackstone Mortgage Trust (BXMT) is expected to cut its quarterly dividend by at least half as soon as H2 2024 as a number of borrowers are likely to be unable to refinance and repay the company, short seller Muddy Waters Research said Wednesday. Blackstone dismissed the report as "misleading". Blackstone Mortgage Trust shares fell 8.5%.
BlackRock (BLK) is set to introduce generative artificial intelligence tools to clients next month, the Financial Times reported Wednesday. BlackRock shares fell 0.8%.
Mastercard (MA) rose 0.4% after the compnay said late Tuesday its board approved a new stock buyback program of up to $11 billion of its common shares and a 16% increase in quarterly dividend.
CEOs including JPMorgan's (JPM) Jamie Dimon, Morgan Stanley's (MS) James Gorman, Goldman Sach's (GS) David Soloman and Citigroup's (C) Jane Fraser testified on Wednesday to the Senate Banking, Housing, and Urban Affairs Committee regarding banking regulation and the resilience of the US financial system. Topics discussed included cryptocurrencies, the FedNow instant payment service, and whether the carried interest loophole should be closed.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In economic news, ADP's monthly measure of private payrolls showed an increase of 103,000 in November, below expectations compiled by Bloomberg for a 130,000 gain and following a downwardly revised expansion of 106,000 in October. In corporate news, Blackstone Mortgage Trust (BXMT) is expected to cut its quarterly dividend by at least half as soon as H2 2024 as a number of borrowers are likely to be unable to refinance and repay the company, short seller Muddy Waters Research said Wednesday. Mastercard (MA) rose 0.4% after the compnay said late Tuesday its board approved a new stock buyback program of up to $11 billion of its common shares and a 16% increase in quarterly dividend.
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Financial stocks eased in late Wednesday afternoon trading with the NYSE Financial Index down 0.3%, erasing earlier gains, and the Financial Select Sector SPDR Fund (XLF) off 0.5%. The Philadelphia Housing Index climbed 1.5% and the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.3%. Blackstone Mortgage Trust shares fell 8.5%.
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Financial stocks eased in late Wednesday afternoon trading with the NYSE Financial Index down 0.3%, erasing earlier gains, and the Financial Select Sector SPDR Fund (XLF) off 0.5%. In corporate news, Blackstone Mortgage Trust (BXMT) is expected to cut its quarterly dividend by at least half as soon as H2 2024 as a number of borrowers are likely to be unable to refinance and repay the company, short seller Muddy Waters Research said Wednesday. CEOs including JPMorgan's (JPM) Jamie Dimon, Morgan Stanley's (MS) James Gorman, Goldman Sach's (GS) David Soloman and Citigroup's (C) Jane Fraser testified on Wednesday to the Senate Banking, Housing, and Urban Affairs Committee regarding banking regulation and the resilience of the US financial system.
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Financial stocks eased in late Wednesday afternoon trading with the NYSE Financial Index down 0.3%, erasing earlier gains, and the Financial Select Sector SPDR Fund (XLF) off 0.5%. Blackstone Mortgage Trust shares fell 8.5%. BlackRock (BLK) is set to introduce generative artificial intelligence tools to clients next month, the Financial Times reported Wednesday.
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c6394423-3486-475a-8ee1-2bde4db7b798
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714432.0
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2023-12-06 00:00:00 UTC
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Energy Sector Update for 12/06/2023: NPWR, FLNC, OSG, XOM
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DCOMP
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https://www.nasdaq.com/articles/energy-sector-update-for-12-06-2023%3A-npwr-flnc-osg-xom
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nan
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nan
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Energy stocks declined late Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1.4%.
The Philadelphia Oil Service Sector Index slumped 2.4%, while the Dow Jones US Utilities Index rose 1.2%.
US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1, following an increase of 1.9 million barrels in the previous week.
West Texas Intermediate crude tumbled 4.1% to $69.39 a barrel, while global benchmark Brent slid 3.7% to $74.33 a barrel. Henry Hub natural gas futures plunged 5.2% to $2.57 per 1 million BTU.
In corporate news, NET Power (NPWR) shares jumped 7% after it said Wednesday it signed a supply deal under which Lummus Technology will design and provide NET Power with heat exchangers for its power plants.
Fluence Energy (FLNC) fell 13% after some controlling stockholders launched a secondary offering of shares.
Overseas Shipholding Group (OSG) shares rose 2.6% after its board declared the first dividend since the spinoff of the international division in 2016 and authorized a boost in a stock buyback plan.
Exxon Mobil (XOM) said it updated its corporate plan through 2027, including a target for an additional $6 billion in structural cost reductions, bringing total cost savings to about $15 billion compared with 2019. The shares fell 1.4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Henry Hub natural gas futures plunged 5.2% to $2.57 per 1 million BTU. Fluence Energy (FLNC) fell 13% after some controlling stockholders launched a secondary offering of shares. Overseas Shipholding Group (OSG) shares rose 2.6% after its board declared the first dividend since the spinoff of the international division in 2016 and authorized a boost in a stock buyback plan.
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Energy stocks declined late Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1.4%. US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1, following an increase of 1.9 million barrels in the previous week. In corporate news, NET Power (NPWR) shares jumped 7% after it said Wednesday it signed a supply deal under which Lummus Technology will design and provide NET Power with heat exchangers for its power plants.
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Energy stocks declined late Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1.4%. US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1, following an increase of 1.9 million barrels in the previous week. In corporate news, NET Power (NPWR) shares jumped 7% after it said Wednesday it signed a supply deal under which Lummus Technology will design and provide NET Power with heat exchangers for its power plants.
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Energy stocks declined late Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1.4%. US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1, following an increase of 1.9 million barrels in the previous week. In corporate news, NET Power (NPWR) shares jumped 7% after it said Wednesday it signed a supply deal under which Lummus Technology will design and provide NET Power with heat exchangers for its power plants.
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f3d78b5e-ed3d-4475-97e7-a3cb873ea1e7
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714433.0
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2023-12-06 00:00:00 UTC
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Nio Stock Analysis: Is Nio Stock a Buy, Sell, or Hold?
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DCOMP
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https://www.nasdaq.com/articles/nio-stock-analysis%3A-is-nio-stock-a-buy-sell-or-hold
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nan
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nan
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Fool.com contributor Parkev Tatevosian reviews Nio's (NYSE: NIO) latest quarterly earnings update, which included a significant strategy shift. Additionally, Parkev answers whether he thinks Nio stock is a buy right now.
*Stock prices used were the afternoon prices of Dec. 5, 2023. The video was published on Dec. 6, 2023.
10 stocks we like better than Nio
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 Nio 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
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nio. The Motley Fool has a disclosure policy.
Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel.
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Fool.com contributor Parkev Tatevosian reviews Nio's (NYSE: NIO) latest quarterly earnings update, which included a significant strategy shift. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Parkev Tatevosian, CFA has no position in any of the stocks mentioned.
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10 stocks we like better than Nio 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. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Parkev Tatevosian, CFA has no position in any of the stocks mentioned.
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Additionally, Parkev answers whether he thinks Nio stock is a buy right now. That's right -- they think these 10 stocks are even better buys. His opinions remain his own and are unaffected by The Motley Fool.
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f48e9647-9343-42a9-93a7-50016ec7359a
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714434.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: VEEV, RCL, LOVE
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DCOMP
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-veev-rcl-love
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Veeva Systems Inc (Symbol: VEEV), where a total of 11,316 contracts have traded so far, representing approximately 1.1 million underlying shares. That amounts to about 79.4% of VEEV's average daily trading volume over the past month of 1.4 million shares. Particularly high volume was seen for the $200 strike call option expiring June 21, 2024, with 1,922 contracts trading so far today, representing approximately 192,200 underlying shares of VEEV. Below is a chart showing VEEV's trailing twelve month trading history, with the $200 strike highlighted in orange:
Royal Caribbean Group (Symbol: RCL) options are showing a volume of 20,723 contracts thus far today. That number of contracts represents approximately 2.1 million underlying shares, working out to a sizeable 75.2% of RCL's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $110 strike put option expiring June 21, 2024, with 2,208 contracts trading so far today, representing approximately 220,800 underlying shares of RCL. Below is a chart showing RCL's trailing twelve month trading history, with the $110 strike highlighted in orange:
And Lovesac Co (Symbol: LOVE) saw options trading volume of 2,457 contracts, representing approximately 245,700 underlying shares or approximately 70.5% of LOVE's average daily trading volume over the past month, of 348,485 shares. Particularly high volume was seen for the $25 strike call option expiring December 15, 2023, with 495 contracts trading so far today, representing approximately 49,500 underlying shares of LOVE. Below is a chart showing LOVE's trailing twelve month trading history, with the $25 strike highlighted in orange:
For the various different available expirations for VEEV options, RCL options, or LOVE options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
MAIN Split History
SZK Average Annual Return
QKOR Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $200 strike call option expiring June 21, 2024, with 1,922 contracts trading so far today, representing approximately 192,200 underlying shares of VEEV. Particularly high volume was seen for the $110 strike put option expiring June 21, 2024, with 2,208 contracts trading so far today, representing approximately 220,800 underlying shares of RCL. Particularly high volume was seen for the $25 strike call option expiring December 15, 2023, with 495 contracts trading so far today, representing approximately 49,500 underlying shares of LOVE.
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Particularly high volume was seen for the $200 strike call option expiring June 21, 2024, with 1,922 contracts trading so far today, representing approximately 192,200 underlying shares of VEEV. Below is a chart showing VEEV's trailing twelve month trading history, with the $200 strike highlighted in orange: Royal Caribbean Group (Symbol: RCL) options are showing a volume of 20,723 contracts thus far today. Below is a chart showing RCL's trailing twelve month trading history, with the $110 strike highlighted in orange: And Lovesac Co (Symbol: LOVE) saw options trading volume of 2,457 contracts, representing approximately 245,700 underlying shares or approximately 70.5% of LOVE's average daily trading volume over the past month, of 348,485 shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Veeva Systems Inc (Symbol: VEEV), where a total of 11,316 contracts have traded so far, representing approximately 1.1 million underlying shares. Below is a chart showing RCL's trailing twelve month trading history, with the $110 strike highlighted in orange: And Lovesac Co (Symbol: LOVE) saw options trading volume of 2,457 contracts, representing approximately 245,700 underlying shares or approximately 70.5% of LOVE's average daily trading volume over the past month, of 348,485 shares. Below is a chart showing LOVE's trailing twelve month trading history, with the $25 strike highlighted in orange: For the various different available expirations for VEEV options, RCL options, or LOVE options, visit StockOptionsChannel.com.
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Particularly high volume was seen for the $200 strike call option expiring June 21, 2024, with 1,922 contracts trading so far today, representing approximately 192,200 underlying shares of VEEV. Below is a chart showing RCL's trailing twelve month trading history, with the $110 strike highlighted in orange: And Lovesac Co (Symbol: LOVE) saw options trading volume of 2,457 contracts, representing approximately 245,700 underlying shares or approximately 70.5% of LOVE's average daily trading volume over the past month, of 348,485 shares. Below is a chart showing LOVE's trailing twelve month trading history, with the $25 strike highlighted in orange: For the various different available expirations for VEEV options, RCL options, or LOVE options, visit StockOptionsChannel.com.
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33c386d6-8fdd-4771-8d57-381ebd8de42b
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714435.0
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2023-12-06 00:00:00 UTC
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Why Lucid Stock Surged on Wednesday
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DCOMP
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https://www.nasdaq.com/articles/why-lucid-stock-surged-on-wednesday
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nan
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nan
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Shares of Lucid Group (NASDAQ: LCID) surged on Wednesday, soaring 12.4% at its highest point in trading earlier in the day after the electric vehicle (EV) stock's latest updates about its 2024 Air model lineup raised investors' hopes of a turnaround.
Lucid upgrades Air models and cuts prices
In a bid to boost sales, Lucid is trying to make its cars more competitive, and will now provide customers with greater flexibility to configure their vehicles, especially for its Pure and Touring versions.
Lucid is doing two things here: It has added new features to make its Pure and Touring models more alluring, and has cut starting prices as well to make them more affordable. While Air Pure now starts from $77,400 per unit, Air Touring will start at $85,900 per unit. The luxury EV maker will also add features and cut the starting price of its Air Grand Touring sedan in 2024.
Does that make the battered EV stock a buy?
How important are these updates to Lucid's stock price, you may ask? Well, for a company that has struggled to produce and sell EVs at scale so far and has watched its reservation numbers fall, any move to boost sales in a highly competitive market is welcome.
To put some numbers to that, consider that Lucid produced 1,550 vehicles and delivered 1,457 units in its third quarter. Lucid last reported reservations of around 28,000 cars in February, and that number was falling consistently for some quarters. Worse yet, Lucid slashed its 2023 production guidance last quarter from 10,000 cars to 8,000 to 8,500 vehicles.
Not surprisingly, Lucid's stellar start to 2023 amid a rebound in growth stocks lasted only so long -- the EV stock is now down more than 60% since February this year. Given Lucid's lingering challenges, I wouldn't be surprised if the market's euphoria that was on display today doesn't last, either.
10 stocks we like better than Lucid Group
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 Lucid Group wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 4, 2023
Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Shares of Lucid Group (NASDAQ: LCID) surged on Wednesday, soaring 12.4% at its highest point in trading earlier in the day after the electric vehicle (EV) stock's latest updates about its 2024 Air model lineup raised investors' hopes of a turnaround. The luxury EV maker will also add features and cut the starting price of its Air Grand Touring sedan in 2024. Well, for a company that has struggled to produce and sell EVs at scale so far and has watched its reservation numbers fall, any move to boost sales in a highly competitive market is welcome.
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Shares of Lucid Group (NASDAQ: LCID) surged on Wednesday, soaring 12.4% at its highest point in trading earlier in the day after the electric vehicle (EV) stock's latest updates about its 2024 Air model lineup raised investors' hopes of a turnaround. While Air Pure now starts from $77,400 per unit, Air Touring will start at $85,900 per unit. Well, for a company that has struggled to produce and sell EVs at scale so far and has watched its reservation numbers fall, any move to boost sales in a highly competitive market is welcome.
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Lucid upgrades Air models and cuts prices In a bid to boost sales, Lucid is trying to make its cars more competitive, and will now provide customers with greater flexibility to configure their vehicles, especially for its Pure and Touring versions. Not surprisingly, Lucid's stellar start to 2023 amid a rebound in growth stocks lasted only so long -- the EV stock is now down more than 60% since February this year. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Neha Chamaria has no position in any of the stocks mentioned.
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Lucid upgrades Air models and cuts prices In a bid to boost sales, Lucid is trying to make its cars more competitive, and will now provide customers with greater flexibility to configure their vehicles, especially for its Pure and Touring versions. Lucid last reported reservations of around 28,000 cars in February, and that number was falling consistently for some quarters. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Lucid Group wasn't one of them!
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fda0a4f6-549f-472d-b0a6-ac55fc01d8ba
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714436.0
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2023-12-06 00:00:00 UTC
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Last Chance Buys: 3 Stocks to Snap Up Before Quarter’s End
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DCOMP
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https://www.nasdaq.com/articles/last-chance-buys%3A-3-stocks-to-snap-up-before-quarters-end
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The tight monetary policies, high inflation and low consumer spending led to a massive correction in the stock market this year. Several companies suffered from rising interest rates, but the recent quarterly earnings season has shown mixed results. This takes us to choosing stocks to buy now that have the potential to thrive in 2024.
If you have started to build a portfolio for the coming year, consider the companies that can report impressive fourth-quarter numbers. This will lead to higher growth and steady returns as we approach a new year. Based on the recent financials, these are the three stocks to buy now.
Amazon (AMZN)
Source: Tada Images / Shutterstock.com
E-commerce giant Amazon (NASDAQ:AMZN) is ready to enjoy some of its best days again. The king of e-commerce offers a diverse range of products, including cloud services and streaming services. The company struggled earlier in the year, but it is rebounding now.
The one big reason to bet on Amazon is its growing market share. It is enjoying a lead over competitors and has rapidly expanded its presence. The upcoming holiday season could be huge for the company. Investing in the stock before the end of the quarter will mean significant gains when the company announces the next quarterly results. In the third quarter, Amazon beat analyst expectations and saw a 13% rise in net sales to reach $143.1 billion. Even the net income hit $9.9 billion in the quarter.
Amazon Web Services (AWS) is an important aspect of the business that continues to grow. This segment continues to drive revenue and growth, with a 12% year-over-year increase in sales in the third quarter. There was a minor decline in growth in AWS since consumers cut their budgets due to inflation, but there is a high possibility of acceleration in the coming months. The company has invested in artificial intelligence (AI) for a while and has introduced generative AI services for AWS, which will show results in the coming quarter.
Besides AWS, Amazon has several revenue-generating businesses that are highly reliable. Trading at $146 today, the stock is up 71% year to date and very close to the 52-week high of $149. Load up on this stock before the end of the quarter and take home significant gains as the company reports the fourth quarter results next year.
Nvidia (NVDA)
Source: sdx15 / Shutterstock.com
Nvidia (NASDAQ:NVDA) is a semiconductor giant at the forefront of tech stocks this year. The company had massive revenue growth due to the rise of artificial intelligence. Known for maintaining a gold standard in developing graphics processing units, Nvidia is at the forefront of the AI race, and its financials have proved that the momentum will keep going.
Nvidia’s AI success increased the shares from $148 in January to $465 today. The stock is up 191% year to date and is hitting new highs each quarter. While it may not be possible for the company to repeat this success, it still has a chance to grow stronger.
Several companies depend on Nvidia GPUs, and with a strong chip demand, Nvidia had solid revenue growth. In the third quarter, its revenue of $18.2 billion was a 206% year-over-year rise. This was driven by the 279% year-over-year rise in data center sales, which reached $14.5 billion.
Nvidia has what it needs to succeed, and the revenue jump is due to the rise in the demand for chips that meet the changing needs of AI applications. Due to U.S. government restrictions, the company might see a dip in sales in the fourth quarter, but the demand for its chips remains strong. In the fourth quarter, the company expects $20 billion in revenue. It has beaten revenue expectations, and I believe it will do so again.
No, the stock isn’t cheap and might not dip anytime soon. If you want to join the AI hype, this is one of the best stocks to buy now.
McDonald’s (MCD)
Source: 8th.creator / Shutterstock.com
McDonald’s (NYSE:MCD), a restaurant stock set to boom with increased consumer spending, has become a household name. Investing in the stock will not disappoint you. It managed to thrive even in inflation when consumers opted for their burgers instead of spending on dining out. As consumer spending improves and the holiday season approaches, we can see MCD report even better numbers.
The company’s strength is its franchise business, which helps keep operating expenses low while steadily generating revenue. It currently has over 40,000 locations in over 100 countries and is still growing. Out of all these locations, it only operates close to 2,000, which means the rest are franchisees. If you look at the financials, the company generated a revenue of $5.9 billion in the first quarter, $6.5 billion in the second quarter, and $6.69 billion in the third quarter, totaling $19.09 in nine months.
With McDonald’s, there is a low-risk, high-reward possibility, and you can enjoy passive income through regular dividends. The company has a dividend yield of 2.33% and a quarterly dividend of $1.67. It also has enough cash to keep rewarding the shareholders, and I believe you will never regret holding this stock long term. It is trading at $286 today and is up 8% year to date. The upcoming holiday season could be solid for the company. Grab the stock before it skyrockets in 2024.
On the date of publication, Vandita Jadeja 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.
Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.
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The post Last Chance Buys: 3 Stocks to Snap Up Before Quarter’s End 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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There was a minor decline in growth in AWS since consumers cut their budgets due to inflation, but there is a high possibility of acceleration in the coming months. Known for maintaining a gold standard in developing graphics processing units, Nvidia is at the forefront of the AI race, and its financials have proved that the momentum will keep going. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Last Chance Buys: 3 Stocks to Snap Up Before Quarter’s End appeared first on InvestorPlace.
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Amazon (AMZN) Source: Tada Images / Shutterstock.com E-commerce giant Amazon (NASDAQ:AMZN) is ready to enjoy some of its best days again. Nvidia (NVDA) Source: sdx15 / Shutterstock.com Nvidia (NASDAQ:NVDA) is a semiconductor giant at the forefront of tech stocks this year. Several companies depend on Nvidia GPUs, and with a strong chip demand, Nvidia had solid revenue growth.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips The tight monetary policies, high inflation and low consumer spending led to a massive correction in the stock market this year. Load up on this stock before the end of the quarter and take home significant gains as the company reports the fourth quarter results next year. If you look at the financials, the company generated a revenue of $5.9 billion in the first quarter, $6.5 billion in the second quarter, and $6.69 billion in the third quarter, totaling $19.09 in nine months.
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The company has invested in artificial intelligence (AI) for a while and has introduced generative AI services for AWS, which will show results in the coming quarter. Nvidia’s AI success increased the shares from $148 in January to $465 today. As consumer spending improves and the holiday season approaches, we can see MCD report even better numbers.
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6945aefc-aade-487f-af69-dfff4770fa7a
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714437.0
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2023-12-06 00:00:00 UTC
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The EV Elite: 3 Stocks Charging Ahead of the Competition
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https://www.nasdaq.com/articles/the-ev-elite%3A-3-stocks-charging-ahead-of-the-competition
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Although a lucrative industry, the electric vehicle space is highly competitive. But industry crowding is typical, especially during the earlier stages of development. We’ll probably see some consolidation in the next few years, whereby some EV companies will separate themselves from the pack and others fall out of favor.
Moreover, capital expenditure roadmaps could shift to acquisition-based strategies instead of purely investing in research and development. Therefore, a focus on market share is becoming increasingly important.
I delved into the EV stock landscape to identify three best-in-class assets. Keeping my base case from above, I decided to look at companies that may increase their market share in the coming years. Moreover, I phased out poorly valued stocks to ensure my picks host embedded value.
Herewith are my EV stock picks.
EVgo (EVGO)
Source: Felipe Sanchez / Shutterstock.com
EVgo (NASDAQ:EVGO) is operational in more than 30 states and hosts more than 950 fueling stations. The company’s stations are compatible with all major EV manufacturers, providing it with a significant end market.
Uniform data regarding the company’s market share has yet to emerge. However, EVgo’s historical 3-year compound annual growth rate of 1.09x speaks volumes about what is achievable. The firm is early-to-market and can undoubtedly benefit from an industry forecasted to grow at an annualized rate of 45% until 2027.
The company’s most recent fiscal report is telling. EVgo delivered $35.1 million in third-quarter revenue, a 243.3% year-over-year increase. Much of EVgo’s quarterly success derived from a 106,000 increase in customer accounts and a 206% increase in network gigawatt-hours throughput. Sure, profitability remains of concern as EVgo’s third quarter communicated a $28.3 million loss. However, consider that EVgo is an early-stage company with an aggressive reinvestment policy. As such, profitability will likely occur at a later stage.
Another noteworthy qualitative consideration is EVgo’s recent funding round. The company raised $12.7 million in preliminary awards from the National Electric Vehicle Infrastructure formula program. The funds will be used to roll out additional fast chargers, meaning EVgo’s next CapEx cycle is largely secured.
EVGO stock has a price-to-sales ratio of 1.98x, which I deem favorable given the company is in hypergrowth mode. Moreover, EVGO stock is backed by big-time investors such as The Vanguard Group, Invesco Capital Management and Van Eck Associates Corporation. As such, it is meaningful to conclude that EVgo looks solid from a market-based perspective and not just from a fundamental vantage point.
Tesla (TSLA)
Source: Arina P Habich / Shutterstock.com
I admit that TSLA (NASDAQ:TSLA) stock is an obvious pick. However, let’s not disregard it simply because coverage is widely dispensed. In fact, it would’ve been naive of me to exclude TSLA stock from today’s list as Tesla’s market share of 17% warrants a mention.
TSLA stock has surged by approximately 120% year-to-date amid a recovery in high-beta securities. The stock’s momentum may continue in 2024 as a potential interest rate pivot will lead to lower consumer financing costs. Furthermore, Tesla’s earnings before interest and tax margin of 11.81% looks set to expand due to lower manufacturing input costs, lending investors the opportunity to secure enhanced residual value.
A bottom-up analysis provides additional substance to a bullish argument. Tesla’s YTD wobbles are typical as automakers usually struggle to cope with economic softening. However, recent events suggest an inflection point has emerged. For example, Tesla’s China sales jumped by 14% in November, indicating that regional consumer sentiment is improving. In addition, Wall Street is excited about Tesla’s cyber truck rollout, with HSBC (NYSE:HSBC) analyst Michael Tyndall stating that the product line will enhance Tesla’s “brand appeal.” At the same time, Wedbush’s Dan Ives thinks the launch will contribute to a “broader growth story.”
Tesla’s price-to-sales ratio of 7.88x is at a 25.43% discount to its 5-year average, and its enterprise value-to-earnings before interest and tax ratio of 69.17x is at a near 74% discount. Thus, key metrics suggest TSLA stock is undervalued despite its year-to-date surge.
BYD Company (BYDDF)
Source: T. Schneider / Shutterstock
BYDDF (OTCMKTS:BYDDF) stock offers investors geographic diversification. Although Tesla has exposure to China, its 8% regional market share doesn’t compare to BYD Company’s 35%. Moreover, BYD’s primary listing is in China, meaning its U.S.-listed security is influenced by non-U.S. stock market variables such as Chinese equity risk premiums.
Let’s set BYD stock’s diversification benefits aside for a moment and focus on its fundamentals.
A fundamental catalyst has emerged whereby BYD has, for the first time, officially outsold Nissan in a calendar month. Significant EV uptake in China has resulted in robust industry trend growth, leading BYD to 301,833 unit sales in October. BYD’s sales momentum will likely be sustained for now as China’s economy is expected to expand by 4% next year after slumping into negative growth territory earlier this year. I believe robust GDP growth will add a pull factor to BYD’s product line, resulting in exponential sales growth.
Furthermore, BYD Corporation’s return on invested capital of 11.26% speaks volumes. A high ROIC usually means a corporation is at a competitive advantage because a low amount of invested capital is required to monetize its business model. On top of that, BYD’s return on equity of 23.7% echoes the abundance of value passed down to the firm’s equity investors.
BYDDF stock has shed roughly 15% of its market value in the past six months. However, I am willing to bet on a recovery, which I base on the firm’s fundamental aspects paired with its favorable price-to-earnings-growth ratio of 0.11x.
On the date of publication, Steve Booyens 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.
Steve Booyens co-founded Pearl Gray Equity and Research in 2020 and has been responsible for institutional equity research and PR ever since. Before founding the firm, Steve spent time working in various finance roles in London and South Africa. He holds an MSc in Investment Banking from Queen Mary – University of London. Furthermore, Steve has passed CFA Levels 1 & 2 and is working toward his Ph.D. in Finance. His articles are published on various reputable web pages such as Seeking Alpha, TipRanks, Yahoo Finance, and Benzinga. Steve’s articles on InvestorPlace form an interesting juxtaposition between mainstream opinion and objective theory. Readers can expect coverage on frequently traded stocks, REITs, fixed-income funds, CEFs, and ETFs.
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The post The EV Elite: 3 Stocks Charging Ahead of the Competition 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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Furthermore, Tesla’s earnings before interest and tax margin of 11.81% looks set to expand due to lower manufacturing input costs, lending investors the opportunity to secure enhanced residual value. Moreover, BYD’s primary listing is in China, meaning its U.S.-listed security is influenced by non-U.S. stock market variables such as Chinese equity risk premiums. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post The EV Elite: 3 Stocks Charging Ahead of the Competition appeared first on InvestorPlace.
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The stock’s momentum may continue in 2024 as a potential interest rate pivot will lead to lower consumer financing costs. BYD Company (BYDDF) Source: T. Schneider / Shutterstock BYDDF (OTCMKTS:BYDDF) stock offers investors geographic diversification. Significant EV uptake in China has resulted in robust industry trend growth, leading BYD to 301,833 unit sales in October.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although a lucrative industry, the electric vehicle space is highly competitive. EVgo (EVGO) Source: Felipe Sanchez / Shutterstock.com EVgo (NASDAQ:EVGO) is operational in more than 30 states and hosts more than 950 fueling stations. In addition, Wall Street is excited about Tesla’s cyber truck rollout, with HSBC (NYSE:HSBC) analyst Michael Tyndall stating that the product line will enhance Tesla’s “brand appeal.” At the same time, Wedbush’s Dan Ives thinks the launch will contribute to a “broader growth story.” Tesla’s price-to-sales ratio of 7.88x is at a 25.43% discount to its 5-year average, and its enterprise value-to-earnings before interest and tax ratio of 69.17x is at a near 74% discount.
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Herewith are my EV stock picks. EVgo (EVGO) Source: Felipe Sanchez / Shutterstock.com EVgo (NASDAQ:EVGO) is operational in more than 30 states and hosts more than 950 fueling stations. However, recent events suggest an inflection point has emerged.
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99d7dab4-63c7-495d-811f-2094c59b7a35
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714438.0
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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: HOOD, SPG, RKT
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-hood-spg-rkt
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Robinhood Markets Inc (Symbol: HOOD), where a total volume of 443,041 contracts has been traded thus far today, a contract volume which is representative of approximately 44.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 325.3% of HOOD's average daily trading volume over the past month, of 13.6 million shares. Especially high volume was seen for the $13 strike call option expiring January 19, 2024, with 25,230 contracts trading so far today, representing approximately 2.5 million underlying shares of HOOD. Below is a chart showing HOOD's trailing twelve month trading history, with the $13 strike highlighted in orange:
Simon Property Group, Inc. (Symbol: SPG) options are showing a volume of 29,036 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 210.1% of SPG's average daily trading volume over the past month, of 1.4 million shares. Especially high volume was seen for the $125 strike call option expiring December 15, 2023, with 5,676 contracts trading so far today, representing approximately 567,600 underlying shares of SPG. Below is a chart showing SPG's trailing twelve month trading history, with the $125 strike highlighted in orange:
And Rocket Companies Inc Class A (Symbol: RKT) options are showing a volume of 35,336 contracts thus far today. That number of contracts represents approximately 3.5 million underlying shares, working out to a sizeable 192.3% of RKT's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $10 strike call option expiring December 08, 2023, with 8,407 contracts trading so far today, representing approximately 840,700 underlying shares of RKT. Below is a chart showing RKT's trailing twelve month trading history, with the $10 strike highlighted in orange:
For the various different available expirations for HOOD options, SPG options, or RKT options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $13 strike call option expiring January 19, 2024, with 25,230 contracts trading so far today, representing approximately 2.5 million underlying shares of HOOD. Especially high volume was seen for the $125 strike call option expiring December 15, 2023, with 5,676 contracts trading so far today, representing approximately 567,600 underlying shares of SPG. Especially high volume was seen for the $10 strike call option expiring December 08, 2023, with 8,407 contracts trading so far today, representing approximately 840,700 underlying shares of RKT.
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Below is a chart showing HOOD's trailing twelve month trading history, with the $13 strike highlighted in orange: Simon Property Group, Inc. (Symbol: SPG) options are showing a volume of 29,036 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 210.1% of SPG's average daily trading volume over the past month, of 1.4 million shares. That number of contracts represents approximately 3.5 million underlying shares, working out to a sizeable 192.3% of RKT's average daily trading volume over the past month, of 1.8 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Robinhood Markets Inc (Symbol: HOOD), where a total volume of 443,041 contracts has been traded thus far today, a contract volume which is representative of approximately 44.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 210.1% of SPG's average daily trading volume over the past month, of 1.4 million shares. That number of contracts represents approximately 3.5 million underlying shares, working out to a sizeable 192.3% of RKT's average daily trading volume over the past month, of 1.8 million shares.
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Especially high volume was seen for the $13 strike call option expiring January 19, 2024, with 25,230 contracts trading so far today, representing approximately 2.5 million underlying shares of HOOD. That number of contracts represents approximately 3.5 million underlying shares, working out to a sizeable 192.3% of RKT's average daily trading volume over the past month, of 1.8 million shares. Below is a chart showing RKT's trailing twelve month trading history, with the $10 strike highlighted in orange: For the various different available expirations for HOOD options, SPG options, or RKT options, visit StockOptionsChannel.com.
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03243d5d-9266-4884-b0b9-6529232d3cfd
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714439.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: AUPH, MS, ALGM
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DCOMP
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-auph-ms-algm
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Aurinia Pharmaceuticals Inc (Symbol: AUPH), where a total volume of 18,264 contracts has been traded thus far today, a contract volume which is representative of approximately 1.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 86.5% of AUPH's average daily trading volume over the past month, of 2.1 million shares. Especially high volume was seen for the $7 strike put option expiring January 19, 2024, with 4,049 contracts trading so far today, representing approximately 404,900 underlying shares of AUPH. Below is a chart showing AUPH's trailing twelve month trading history, with the $7 strike highlighted in orange:
Morgan Stanley (Symbol: MS) options are showing a volume of 61,120 contracts thus far today. That number of contracts represents approximately 6.1 million underlying shares, working out to a sizeable 82.3% of MS's average daily trading volume over the past month, of 7.4 million shares. Especially high volume was seen for the $95 strike put option expiring January 19, 2024, with 14,820 contracts trading so far today, representing approximately 1.5 million underlying shares of MS. Below is a chart showing MS's trailing twelve month trading history, with the $95 strike highlighted in orange:
And Allegro MicroSystems Inc (Symbol: ALGM) saw options trading volume of 9,372 contracts, representing approximately 937,200 underlying shares or approximately 82.3% of ALGM's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $32.50 strike call option expiring January 19, 2024, with 9,005 contracts trading so far today, representing approximately 900,500 underlying shares of ALGM. Below is a chart showing ALGM's trailing twelve month trading history, with the $32.50 strike highlighted in orange:
For the various different available expirations for AUPH options, MS options, or ALGM options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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That number works out to 86.5% of AUPH's average daily trading volume over the past month, of 2.1 million shares. Especially high volume was seen for the $7 strike put option expiring January 19, 2024, with 4,049 contracts trading so far today, representing approximately 404,900 underlying shares of AUPH. Especially high volume was seen for the $32.50 strike call option expiring January 19, 2024, with 9,005 contracts trading so far today, representing approximately 900,500 underlying shares of ALGM.
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Especially high volume was seen for the $7 strike put option expiring January 19, 2024, with 4,049 contracts trading so far today, representing approximately 404,900 underlying shares of AUPH. Below is a chart showing AUPH's trailing twelve month trading history, with the $7 strike highlighted in orange: Morgan Stanley (Symbol: MS) options are showing a volume of 61,120 contracts thus far today. Especially high volume was seen for the $95 strike put option expiring January 19, 2024, with 14,820 contracts trading so far today, representing approximately 1.5 million underlying shares of MS. Below is a chart showing MS's trailing twelve month trading history, with the $95 strike highlighted in orange: And Allegro MicroSystems Inc (Symbol: ALGM) saw options trading volume of 9,372 contracts, representing approximately 937,200 underlying shares or approximately 82.3% of ALGM's average daily trading volume over the past month, of 1.1 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Aurinia Pharmaceuticals Inc (Symbol: AUPH), where a total volume of 18,264 contracts has been traded thus far today, a contract volume which is representative of approximately 1.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number of contracts represents approximately 6.1 million underlying shares, working out to a sizeable 82.3% of MS's average daily trading volume over the past month, of 7.4 million shares. Especially high volume was seen for the $95 strike put option expiring January 19, 2024, with 14,820 contracts trading so far today, representing approximately 1.5 million underlying shares of MS. Below is a chart showing MS's trailing twelve month trading history, with the $95 strike highlighted in orange: And Allegro MicroSystems Inc (Symbol: ALGM) saw options trading volume of 9,372 contracts, representing approximately 937,200 underlying shares or approximately 82.3% of ALGM's average daily trading volume over the past month, of 1.1 million shares.
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Especially high volume was seen for the $7 strike put option expiring January 19, 2024, with 4,049 contracts trading so far today, representing approximately 404,900 underlying shares of AUPH. That number of contracts represents approximately 6.1 million underlying shares, working out to a sizeable 82.3% of MS's average daily trading volume over the past month, of 7.4 million shares. Especially high volume was seen for the $95 strike put option expiring January 19, 2024, with 14,820 contracts trading so far today, representing approximately 1.5 million underlying shares of MS. Below is a chart showing MS's trailing twelve month trading history, with the $95 strike highlighted in orange: And Allegro MicroSystems Inc (Symbol: ALGM) saw options trading volume of 9,372 contracts, representing approximately 937,200 underlying shares or approximately 82.3% of ALGM's average daily trading volume over the past month, of 1.1 million shares.
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6b7447a9-fded-4197-9567-d6d8361eaf0e
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714440.0
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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: BX, FIS, CHK
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-bx-fis-chk
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Blackstone Inc (Symbol: BX), where a total of 28,958 contracts have traded so far, representing approximately 2.9 million underlying shares. That amounts to about 98.4% of BX's average daily trading volume over the past month of 2.9 million shares. Particularly high volume was seen for the $113 strike put option expiring December 29, 2023, with 3,136 contracts trading so far today, representing approximately 313,600 underlying shares of BX. Below is a chart showing BX's trailing twelve month trading history, with the $113 strike highlighted in orange:
Fidelity National Information Services Inc (Symbol: FIS) options are showing a volume of 57,940 contracts thus far today. That number of contracts represents approximately 5.8 million underlying shares, working out to a sizeable 96.8% of FIS's average daily trading volume over the past month, of 6.0 million shares. Particularly high volume was seen for the $55 strike call option expiring December 15, 2023, with 28,086 contracts trading so far today, representing approximately 2.8 million underlying shares of FIS. Below is a chart showing FIS's trailing twelve month trading history, with the $55 strike highlighted in orange:
And Chesapeake Energy Corp. (Symbol: CHK) options are showing a volume of 12,998 contracts thus far today. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 89.7% of CHK's average daily trading volume over the past month, of 1.4 million shares. Especially high volume was seen for the $75 strike put option expiring January 19, 2024, with 6,030 contracts trading so far today, representing approximately 603,000 underlying shares of CHK. Below is a chart showing CHK's trailing twelve month trading history, with the $75 strike highlighted in orange:
For the various different available expirations for BX options, FIS options, or CHK options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $113 strike put option expiring December 29, 2023, with 3,136 contracts trading so far today, representing approximately 313,600 underlying shares of BX. Particularly high volume was seen for the $55 strike call option expiring December 15, 2023, with 28,086 contracts trading so far today, representing approximately 2.8 million underlying shares of FIS. Especially high volume was seen for the $75 strike put option expiring January 19, 2024, with 6,030 contracts trading so far today, representing approximately 603,000 underlying shares of CHK.
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That number of contracts represents approximately 5.8 million underlying shares, working out to a sizeable 96.8% of FIS's average daily trading volume over the past month, of 6.0 million shares. Below is a chart showing FIS's trailing twelve month trading history, with the $55 strike highlighted in orange: And Chesapeake Energy Corp. (Symbol: CHK) options are showing a volume of 12,998 contracts thus far today. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 89.7% of CHK's average daily trading volume over the past month, of 1.4 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Blackstone Inc (Symbol: BX), where a total of 28,958 contracts have traded so far, representing approximately 2.9 million underlying shares. That number of contracts represents approximately 5.8 million underlying shares, working out to a sizeable 96.8% of FIS's average daily trading volume over the past month, of 6.0 million shares. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 89.7% of CHK's average daily trading volume over the past month, of 1.4 million shares.
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Particularly high volume was seen for the $113 strike put option expiring December 29, 2023, with 3,136 contracts trading so far today, representing approximately 313,600 underlying shares of BX. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 89.7% of CHK's average daily trading volume over the past month, of 1.4 million shares. Below is a chart showing CHK's trailing twelve month trading history, with the $75 strike highlighted in orange: For the various different available expirations for BX options, FIS options, or CHK options, visit StockOptionsChannel.com.
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f929fc27-47fe-4fc0-a24e-4a0cc8db5aa6
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714441.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: BTU, TWLO, JNJ
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DCOMP
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-btu-twlo-jnj
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Peabody Energy Corp (Symbol: BTU), where a total volume of 11,725 contracts has been traded thus far today, a contract volume which is representative of approximately 1.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45% of BTU's average daily trading volume over the past month, of 2.6 million shares. Particularly high volume was seen for the $14 strike put option expiring April 19, 2024, with 2,464 contracts trading so far today, representing approximately 246,400 underlying shares of BTU. Below is a chart showing BTU's trailing twelve month trading history, with the $14 strike highlighted in orange:
Twilio Inc (Symbol: TWLO) options are showing a volume of 17,491 contracts thus far today. That number of contracts represents approximately 1.7 million underlying shares, working out to a sizeable 44.9% of TWLO's average daily trading volume over the past month, of 3.9 million shares. Especially high volume was seen for the $65 strike put option expiring December 15, 2023, with 1,976 contracts trading so far today, representing approximately 197,600 underlying shares of TWLO. Below is a chart showing TWLO's trailing twelve month trading history, with the $65 strike highlighted in orange:
And Johnson & Johnson (Symbol: JNJ) saw options trading volume of 30,409 contracts, representing approximately 3.0 million underlying shares or approximately 44.5% of JNJ's average daily trading volume over the past month, of 6.8 million shares. Especially high volume was seen for the $170 strike put option expiring January 19, 2024, with 5,940 contracts trading so far today, representing approximately 594,000 underlying shares of JNJ. Below is a chart showing JNJ's trailing twelve month trading history, with the $170 strike highlighted in orange:
For the various different available expirations for BTU options, TWLO options, or JNJ options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $14 strike put option expiring April 19, 2024, with 2,464 contracts trading so far today, representing approximately 246,400 underlying shares of BTU. Especially high volume was seen for the $65 strike put option expiring December 15, 2023, with 1,976 contracts trading so far today, representing approximately 197,600 underlying shares of TWLO. Especially high volume was seen for the $170 strike put option expiring January 19, 2024, with 5,940 contracts trading so far today, representing approximately 594,000 underlying shares of JNJ.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Peabody Energy Corp (Symbol: BTU), where a total volume of 11,725 contracts has been traded thus far today, a contract volume which is representative of approximately 1.2 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing BTU's trailing twelve month trading history, with the $14 strike highlighted in orange: Twilio Inc (Symbol: TWLO) options are showing a volume of 17,491 contracts thus far today. Below is a chart showing TWLO's trailing twelve month trading history, with the $65 strike highlighted in orange: And Johnson & Johnson (Symbol: JNJ) saw options trading volume of 30,409 contracts, representing approximately 3.0 million underlying shares or approximately 44.5% of JNJ's average daily trading volume over the past month, of 6.8 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Peabody Energy Corp (Symbol: BTU), where a total volume of 11,725 contracts has been traded thus far today, a contract volume which is representative of approximately 1.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number of contracts represents approximately 1.7 million underlying shares, working out to a sizeable 44.9% of TWLO's average daily trading volume over the past month, of 3.9 million shares. Below is a chart showing TWLO's trailing twelve month trading history, with the $65 strike highlighted in orange: And Johnson & Johnson (Symbol: JNJ) saw options trading volume of 30,409 contracts, representing approximately 3.0 million underlying shares or approximately 44.5% of JNJ's average daily trading volume over the past month, of 6.8 million shares.
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Particularly high volume was seen for the $14 strike put option expiring April 19, 2024, with 2,464 contracts trading so far today, representing approximately 246,400 underlying shares of BTU. Below is a chart showing TWLO's trailing twelve month trading history, with the $65 strike highlighted in orange: And Johnson & Johnson (Symbol: JNJ) saw options trading volume of 30,409 contracts, representing approximately 3.0 million underlying shares or approximately 44.5% of JNJ's average daily trading volume over the past month, of 6.8 million shares. Below is a chart showing JNJ's trailing twelve month trading history, with the $170 strike highlighted in orange: For the various different available expirations for BTU options, TWLO options, or JNJ options, visit StockOptionsChannel.com.
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5b9edf74-39f9-4dee-85cb-7124dd82711b
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714442.0
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2023-12-06 00:00:00 UTC
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M.D.C. Holdings, Inc. (MDC) Rises As Market Takes a Dip: Key Facts
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https://www.nasdaq.com/articles/m.d.c.-holdings-inc.-mdc-rises-as-market-takes-a-dip%3A-key-facts
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The most recent trading session ended with M.D.C. Holdings, Inc. (MDC) standing at $47.39, reflecting a +0.64% shift from the previouse trading day's closing. This move 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 company's shares have seen an increase of 11.75% over the last month, surpassing the Construction sector's gain of 8.8% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of M.D.C. Holdings, Inc. in its upcoming release. In that report, analysts expect M.D.C. Holdings, Inc. to post earnings of $1.44 per share. This would mark year-over-year growth of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $1.29 billion, down 14.88% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.18 per share and a revenue of $4.59 billion, indicating changes of -32.46% and -19.73%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for M.D.C. Holdings, Inc. 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 shows that these estimate changes are directly correlated with near-term stock prices. 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 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 past month, the Zacks Consensus EPS estimate has moved 3.09% higher. M.D.C. Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, M.D.C. Holdings, Inc. currently has a Forward P/E ratio of 9.1. This indicates a premium in contrast to its industry's Forward P/E of 9.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
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
M.D.C. Holdings, Inc. (MDC) : 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 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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The most recent trading session ended with M.D.C. Holdings, Inc. (MDC) standing at $47.39, reflecting a +0.64% shift from the previouse trading day's closing. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.18 per share and a revenue of $4.59 billion, indicating changes of -32.46% and -19.73%, respectively, from the former year. Click to get this free report M.D.C. Holdings, Inc. (MDC) : Free Stock Analysis Report To read this article on Zacks.com click here.
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M.D.C. Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
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M.D.C. Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now. This group has a Zacks Industry Rank of 92, putting 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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1df80186-4a82-43e7-9b2b-01005f67c1b5
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714443.0
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2023-12-06 00:00:00 UTC
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Griffon (GFF) Advances While Market Declines: Some Information for Investors
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https://www.nasdaq.com/articles/griffon-gff-advances-while-market-declines%3A-some-information-for-investors
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The most recent trading session ended with Griffon (GFF) standing at $49.76, reflecting a +0.81% shift from the previouse trading day's closing. This change outpaced 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%.
Prior to today's trading, shares of the garage door and building products maker had gained 15.62% over the past month. This has outpaced the Conglomerates sector's gain of 8.31% and the S&P 500's gain of 5.08% in that time.
The upcoming earnings release of Griffon will be of great interest to investors. The company is predicted to post an EPS of $0.78, indicating a 9.3% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $624.26 million, showing a 3.87% drop compared to the year-ago quarter.
GFF's full-year Zacks Consensus Estimates are calling for earnings of $4.21 per share and revenue of $2.61 billion. These results would represent year-over-year changes of -7.27% and -2.67%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Griffon. 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.
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 last 30 days, the Zacks Consensus EPS estimate has moved 2.85% higher. Griffon is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Griffon has a Forward P/E ratio of 11.73 right now. This denotes a discount relative to the industry's average Forward P/E of 16.93.
It's also important to note that GFF currently trades at a PEG ratio of 0.7. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Diversified Operations industry had an average PEG ratio of 2.23 as trading concluded yesterday.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% 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
Griffon Corporation (GFF) : 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 garage door and building products maker had gained 15.62% over the past month. Simultaneously, our latest consensus estimate expects the revenue to be $624.26 million, showing a 3.87% drop compared to the year-ago quarter. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector.
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The Diversified Operations industry had an average PEG ratio of 2.23 as trading concluded yesterday. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research? Click to get this free report Griffon Corporation (GFF) : 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 87, positioning it in the top 35% 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. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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Griffon is currently a Zacks Rank #2 (Buy). Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% of all 250+ industries. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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b2a58a8b-321b-4ce9-bde7-45001d4252a2
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714444.0
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2023-12-06 00:00:00 UTC
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McDonald's (MCD) Rises As Market Takes a Dip: Key Facts
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https://www.nasdaq.com/articles/mcdonalds-mcd-rises-as-market-takes-a-dip%3A-key-facts
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The latest trading session saw McDonald's (MCD) ending at $286.86, denoting a +0.11% adjustment from its last day's close. This change outpaced the S&P 500's 0.39% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.59%.
The the stock of world's biggest hamburger chain has risen by 6.65% in the past month, leading the Retail-Wholesale sector's gain of 4.91% and the S&P 500's gain of 5.08%.
The investment community will be closely monitoring the performance of McDonald's in its forthcoming earnings report. In that report, analysts expect McDonald's to post earnings of $2.81 per share. This would mark year-over-year growth of 8.49%. In the meantime, our current consensus estimate forecasts the revenue to be $6.46 billion, indicating a 9.06% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.75 per share and a revenue of $25.55 billion, indicating changes of +16.34% and +10.22%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for McDonald's. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.19% higher. McDonald's presently features a Zacks Rank of #3 (Hold).
Looking at valuation, McDonald's is presently trading at a Forward P/E ratio of 24.38. This represents a premium compared to its industry's average Forward P/E of 20.41.
It's also important to note that MCD currently trades at a PEG ratio of 2.69. 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. The Retail - Restaurants industry had an average PEG ratio of 1.78 as trading concluded yesterday.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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
McDonald's Corporation (MCD) : 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 $6.46 billion, indicating a 9.06% growth compared to the corresponding quarter of the prior year. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. 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 $11.75 per share and a revenue of $25.55 billion, indicating changes of +16.34% and +10.22%, respectively, from the former year. 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. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups.
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In that report, analysts expect McDonald's to post earnings of $2.81 per share. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% 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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5b599e30-a7c5-40f1-a424-ecf14969bfe7
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714445.0
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2023-12-06 00:00:00 UTC
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The 3 Best Space Stocks to Buy in December
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https://www.nasdaq.com/articles/the-3-best-space-stocks-to-buy-in-december
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
At the 2023 World Economic Forum, researchers from McKinsey forecast that the $447 billion space industry could grow to $1 trillion by 2030. However, for many investors looking for space stocks to buy starts with the question, “so what?”
That’s a perception that many industry insiders are coming to grips with. In an article for Forbes, Sherri Brunswick, COO of Space Foundation remarked “Those outside our ecosystem typically don’t have any visibility into space initiatives and, more importantly, how that translates to the betterment of life on Earth.”
The space industry was once virtually the exclusive domain of the National Aeronautics Space Administration (NASA). But in 2023, many private companies are investing in the sector to advance a range of applications including satellite launches, space travel & tourism, and space exploration.
There are space stocks to buy for every investor. Here is one large-cap leader, one micro-cap startup, and an ETF that may be the best choice for many investors.
Lockheed Martin (LMT)
Source: ranchorunner / Shutterstock.com
Lockheed Martin (NYSE:LMT) is a good stock for investors looking to play it safe when it comes to space stocks to buy. The company is one of the leaders in the space sector particularly as it relates to satellites. With demand coming from the public and private sector, the company will have a book of work that will carry it for many years.
Currently, the company’s space business contributes approximately 18% to its top line and 15% to the bottom line. That’s a good reminder that this is far from a pure play space stock. However, at more than 16 times forward earnings, LMT stock is reasonably valued.
And investors get a quarterly dividend with a current yield of 2.82% and an impressive $12.60 annual payout per share. Lockheed Martin has also increased its dividend in each of the last 21 years which makes it a solid dividend stock for any portfolio.
Intuitive Machines (LUNR)
Source: shutterstock.com/T. Schneider
It’s been more than 50 years since the United States put a man on the moon. However, Intuitive Machines (NASDAQ:LUNR) is one of many companies that are leading the way back. On December 4, 2023 the company’s IM-1 mission Nova-C lunar lander arrived in Cape Canaveral, Florida.
The lander will play a critical role in NASA’s Commercial Lunar Payload Services (CLPS) initiative that is sending commercial payloads to the lunar surface as a precursor for planned human missions that could lead to a sustainable human presence. The launch could occur as soon as January 12, 2024.
Intuitive Machines will be a part of that program. The company was recently awarded a $16.8 million contract to provide lunar rover services. In its most recent earnings report, the company also reported a $135 million backlog.
Intuitive Machines is a micro-cap company with a market capitalization of just $289.61 million as of this writing. LUNR is down 58% in the last six months, and trades as a penny stock. Nevertheless, risk-tolerant investors may want to keep this on a watchlist of space stocks to buy.
SPDR S&P Aerospace & Defense ETF (XAR)
Source: Shutterstock
The most important action you can take when investing in any sector is to get started. With the space sector, an exchange-traded fund (ETF) will give you exposure to a wide range of companies in the sector without being overly exposed to any one of them.
There are several options to choose from, but the SPDR S&P Aerospace & Defense ETF (NYSEARCA:XAR). A total 75% of the fund’s holdings are in the Aerospace & Defense sector. This means that it’s not a pure play on the space sector. However, as you’ve seen from stocks like Lockheed Martin, many companies in the space sector are also involved in the defense sector.
The flip side of that argument is that the fund’s performance isn’t necessarily tied to funding of the defense budget. To that end the XAR ETF is up more than 18% in 2023. The fund has more than $1 billion in assets under management with an expense ratio of just 0.35%.
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 The 3 Best Space 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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SPDR S&P Aerospace & Defense ETF (XAR) Source: Shutterstock The most important action you can take when investing in any sector is to get started. More From InvestorPlace The #1 AI Investment Might Be This Company You’ve Never Heard Of Musk’s “Project Omega” May Be Set to Mint New Millionaires. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post The 3 Best Space Stocks to Buy in December appeared first on InvestorPlace.
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Lockheed Martin (LMT) Source: ranchorunner / Shutterstock.com Lockheed Martin (NYSE:LMT) is a good stock for investors looking to play it safe when it comes to space stocks to buy. The lander will play a critical role in NASA’s Commercial Lunar Payload Services (CLPS) initiative that is sending commercial payloads to the lunar surface as a precursor for planned human missions that could lead to a sustainable human presence. SPDR S&P Aerospace & Defense ETF (XAR) Source: Shutterstock The most important action you can take when investing in any sector is to get started.
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In an article for Forbes, Sherri Brunswick, COO of Space Foundation remarked “Those outside our ecosystem typically don’t have any visibility into space initiatives and, more importantly, how that translates to the betterment of life on Earth.” The space industry was once virtually the exclusive domain of the National Aeronautics Space Administration (NASA). Lockheed Martin (LMT) Source: ranchorunner / Shutterstock.com Lockheed Martin (NYSE:LMT) is a good stock for investors looking to play it safe when it comes to space stocks to buy. However, as you’ve seen from stocks like Lockheed Martin, many companies in the space sector are also involved in the defense sector.
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Lockheed Martin (LMT) Source: ranchorunner / Shutterstock.com Lockheed Martin (NYSE:LMT) is a good stock for investors looking to play it safe when it comes to space stocks to buy. Intuitive Machines is a micro-cap company with a market capitalization of just $289.61 million as of this writing. However, as you’ve seen from stocks like Lockheed Martin, many companies in the space sector are also involved in the defense sector.
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2023-12-06 00:00:00 UTC
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AI for the Future: 3 Stocks Driving Innovative Solutions
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https://www.nasdaq.com/articles/ai-for-the-future%3A-3-stocks-driving-innovative-solutions
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
While certain AI stock sectors, such as generative text and imagery, have some commercial use, they’ve mostly been relegated to parlor tricks thus far. And, without the profitable commercialization opportunity needed to offset high tech costs, many of today’s “fun” AI stocks won’t be around in a few years.
That’s the reason investors who are searching for top AI stocks should look to the basics. Perhaps boring but needed tasks that AI helps to optimize and streamline. AI will likely be omnipresent in our lives soon, and today’s “nuts and bolts” AI offerings could easily be tomorrow’s Apple (NASDAQ:AAPL).
Lemonade (LMND)
Source: Stephanie L Sanchez / Shutterstock.com
Ready to get excited about insurance?
OK, probably not. Yet, Lemonade (NYSE:LMND) is one opportunity among innovative AI stocks that’s truly exciting. Until now, insurance offerings have included lengthy and obscure manual calculations that didn’t always accurately predict customer risk. That’s evident today as auto insurance claims surge, leaving legacy insurers holding the bag for poor due diligence.
But Lemonade’s Maya chatbot negates some of that risk, offering customers a friendly and simple alternative when exploring insurance needs. Better yet, it’s underpinned by scores of data that help Maya and Lemonade determine proper price points and risk scores for each customer.
In an age where customers prefer digital engagement for routine business, Lemonade’s customer base is soaring. Customer count grew 12% over the past year and revenue jumped by more than 50%. These stats and increased visibility point to big moments ahead for this top AI stock pick.
UiPath (PATH)
Source: dennizn / Shutterstock.com
UiPath (NYSE:PATH) is on Cathie Wood’s list of top AI stocks, meaning retail investors should take notice. In a September interview, Wood touted UiPath’s AI use in “helping companies automate the most mundane administrative tasks.” It’s not too exciting, but that’s the spot unique AI stocks are. They sit at the intersection of next-gen tech and typical workplace tasks.
UiPath leverages AI and machine learning to help companies streamline workflows by integrating unique proprietary data sets. In effect, it’s like giving OpenAI’s ChatGPT access to your annual credit card statement and asking where you can improve your household budget. But multiply the scale ten-fold (or more) and expand the opportunity to nearly every admin task a company faces. Then you’re closer to the opportunities that UiPath offers.
Speaking of OpenAI, they’re just one of many SaaS tools companies can integrate into their UiPath workflow. Other partnered integrations include Salesforce (NYSE:CRM) and Amazon (NASDAQ:AMZN) Web Services (AWS). These wide-reaching integrations mean UiPath can easily slide itself into most corporate ecosystems while improving enterprise efficiencies.
Symbotic (SYM)
Source: PopTika / Shutterstock.com
Honestly, warehouse management solutions aren’t particularly exciting for average investors. But Symbotic’s (NASDAQ:SYM) AI solutions have big-name corporations racing to partner with them. Symbotic offers AI-enabled warehouse robotics that blue-chips like Walmart (NYSE:WMT) and Target (NYSE:TGT) leverage to cut costs and increase productivity.
Buy Symbotic is about to expand its market reach substantially. Though the firm, thus far, has only been practical for enterprise-level warehousing, the company is developing a tool to help small and medium businesses. The “GreenBox” initiative will target shared warehousing that multiple small businesses use jointly. Again, it may not sound revolutionary, but as one analyst says, “I’ve seen a lot of robotics tech and I’ve never seen anything like it in my life. Compared to what it replaces, it’s like day and night.”
Symbotic just posted its first profitable quarter which, combined with current market penetration and future expansion, bodes well for this AI stock.
On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy’s work can also be found at www.jeremyflint.work.
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The post AI for the Future: 3 Stocks Driving Innovative Solutions appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And, without the profitable commercialization opportunity needed to offset high tech costs, many of today’s “fun” AI stocks won’t be around in a few years. Compared to what it replaces, it’s like day and night.” Symbotic just posted its first profitable quarter which, combined with current market penetration and future expansion, bodes well for this AI stock. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post AI for the Future: 3 Stocks Driving Innovative Solutions appeared first on InvestorPlace.
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And, without the profitable commercialization opportunity needed to offset high tech costs, many of today’s “fun” AI stocks won’t be around in a few years. UiPath (PATH) Source: dennizn / Shutterstock.com UiPath (NYSE:PATH) is on Cathie Wood’s list of top AI stocks, meaning retail investors should take notice. UiPath leverages AI and machine learning to help companies streamline workflows by integrating unique proprietary data sets.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips While certain AI stock sectors, such as generative text and imagery, have some commercial use, they’ve mostly been relegated to parlor tricks thus far. UiPath (PATH) Source: dennizn / Shutterstock.com UiPath (NYSE:PATH) is on Cathie Wood’s list of top AI stocks, meaning retail investors should take notice. In a September interview, Wood touted UiPath’s AI use in “helping companies automate the most mundane administrative tasks.” It’s not too exciting, but that’s the spot unique AI stocks are.
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Yet, Lemonade (NYSE:LMND) is one opportunity among innovative AI stocks that’s truly exciting. But Lemonade’s Maya chatbot negates some of that risk, offering customers a friendly and simple alternative when exploring insurance needs. More From InvestorPlace The #1 AI Investment Might Be This Company You’ve Never Heard Of Musk’s “Project Omega” May Be Set to Mint New Millionaires.
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2023-12-06 00:00:00 UTC
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Technology Sector Update for 12/06/2023: YEXT, S, NIO, META
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https://www.nasdaq.com/articles/technology-sector-update-for-12-06-2023%3A-yext-s-nio-meta
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Tech stocks were lower late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) declining 0.8% and the SPDR S&P Semiconductor ETF (XSD) down by 0.5%.
The Philadelphia Semiconductor index was shedding 0.7%.
In corporate news, Yext (YEXT) shares slumped 22% after the company cut its fiscal 2024 revenue guidance, despite raising its earnings projection.
SentinelOne (S) shares soared 17%, a day after the company reported better-than-expected fiscal Q3 results.
Nio (NIO) shares jumped 5.4% after the company late Tuesday reported higher Q3 revenue.
Meta Platforms (META), its chief executive Mark Zuckerberg, and its subsidiaries including Instagram are facing a lawsuit filed by New Mexico Attorney General Raul Torrez, who alleged that Meta's Facebook and Instagram have exposed children to sexual content and human trafficking. Meta shares were fractionally lower.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Tech stocks were lower late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) declining 0.8% and the SPDR S&P Semiconductor ETF (XSD) down by 0.5%. SentinelOne (S) shares soared 17%, a day after the company reported better-than-expected fiscal Q3 results. Meta Platforms (META), its chief executive Mark Zuckerberg, and its subsidiaries including Instagram are facing a lawsuit filed by New Mexico Attorney General Raul Torrez, who alleged that Meta's Facebook and Instagram have exposed children to sexual content and human trafficking.
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In corporate news, Yext (YEXT) shares slumped 22% after the company cut its fiscal 2024 revenue guidance, despite raising its earnings projection. SentinelOne (S) shares soared 17%, a day after the company reported better-than-expected fiscal Q3 results. Nio (NIO) shares jumped 5.4% after the company late Tuesday reported higher Q3 revenue.
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Tech stocks were lower late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) declining 0.8% and the SPDR S&P Semiconductor ETF (XSD) down by 0.5%. In corporate news, Yext (YEXT) shares slumped 22% after the company cut its fiscal 2024 revenue guidance, despite raising its earnings projection. Meta Platforms (META), its chief executive Mark Zuckerberg, and its subsidiaries including Instagram are facing a lawsuit filed by New Mexico Attorney General Raul Torrez, who alleged that Meta's Facebook and Instagram have exposed children to sexual content and human trafficking.
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Tech stocks were lower late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) declining 0.8% and the SPDR S&P Semiconductor ETF (XSD) down by 0.5%. The Philadelphia Semiconductor index was shedding 0.7%. In corporate news, Yext (YEXT) shares slumped 22% after the company cut its fiscal 2024 revenue guidance, despite raising its earnings projection.
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714448.0
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2023-12-06 00:00:00 UTC
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Want greener EVs? Add plant-based 'leather' says designer Vicki von Holzhausen
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https://www.nasdaq.com/articles/want-greener-evs-add-plant-based-leather-says-designer-vicki-von-holzhausen
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By Paul Lienert
Dec 6 (Reuters) - Former auto designer Vicki von Holzhausen thinks carmakers can make their electric vehicles even greener — with the help of bamboo and bananas.
Vegan leather made from those plants is a specialty of an eponymous “material innovation” company she founded in 2015 in Malibu, California. The firm started out making handbags, backpacks and other accessories. Today, it ships a variety of plant-based materials to the fashion, furniture and aerospace industries, and has mounted a foray into the auto business.
“We’re working with all of the (vehicle) manufacturers,” von Holzhausen said in an interview. The first plant-free materials from her company should begin appearing in production vehicles from “multiple manufacturers” in a couple years, she added.
So far, the competition is thin: EV companies Tesla TSLA.O and Fisker FSR.N offer non-leather options in their vehicles, but established automakers have been slow to respond.
"We have found that customers are very enthusiastic about having good vegan options for vehicle interiors ... For us, this is obviously good branding, but it's also the right thing to do (and) our customers seem to agree," Fisker said in a statement.
Car companies got a sneak preview of von Holzhausen's work in a one-of-a-kind Tesla Model S Plaid equipped by supplier partner Unplugged Performance with the company’s Banbu, a biodegradable vegan material made from bamboo fibers.
Unplugged Performance on its website is taking reservations for "guilt-free" vegan leather interiors from von Holzhausen for the Model S, Model Y and Model 3.
Vicki von Holzhausen's husband Franz heads design at Tesla. She said her firm does not do business directly with Tesla.
In September, in partnership with Volkswagen’s VOWG_p.DE Spanish affiliate Seat, von Holzhausen fitted the racy Cupra Dark Rebel concept with the same bamboo-based material for the Munich auto show.
Von Holzhausen continues to push the frontiers of sustainable material with its latest product, Replant, described as a farm-to-fabric material made from plant fibers recycled from agricultural waste — currently bananas.
The self-described “California girl” grew up in Pasadena and attended ArtCenter College of Design, finishing school for many of the world’s top car stylists. Von Holzhausen worked for Audi, then at the advanced concept studios of Mercedes-Benz MBGn.DE and General Motors GM.N before setting up her own business.
Von Holzhausen believes her company’s products have the potential for widespread use in vehicles beyond seating, citing steering wheels, instrument panels and consoles.
“There are so many parts in cars that could be improved and transitioned away from plastic into plant-based materials. I think the sky's the limit.”
Von Holzhausen said the auto industry continues to lag in embracing more sustainable materials.
“Consumers are ahead of the companies in asking for this. We can't transition from the old world to the new world fast enough.”
(Reporting by Paul Lienert in Detroit; Editing by David Gregorio)
((Paul.Lienert@thomsonreuters.com; mobile +1 313-670-2452;))
The views and 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 Paul Lienert Dec 6 (Reuters) - Former auto designer Vicki von Holzhausen thinks carmakers can make their electric vehicles even greener — with the help of bamboo and bananas. In September, in partnership with Volkswagen’s VOWG_p.DE Spanish affiliate Seat, von Holzhausen fitted the racy Cupra Dark Rebel concept with the same bamboo-based material for the Munich auto show. Von Holzhausen believes her company’s products have the potential for widespread use in vehicles beyond seating, citing steering wheels, instrument panels and consoles.
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By Paul Lienert Dec 6 (Reuters) - Former auto designer Vicki von Holzhausen thinks carmakers can make their electric vehicles even greener — with the help of bamboo and bananas. "We have found that customers are very enthusiastic about having good vegan options for vehicle interiors ... For us, this is obviously good branding, but it's also the right thing to do (and) our customers seem to agree," Fisker said in a statement. Unplugged Performance on its website is taking reservations for "guilt-free" vegan leather interiors from von Holzhausen for the Model S, Model Y and Model 3.
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By Paul Lienert Dec 6 (Reuters) - Former auto designer Vicki von Holzhausen thinks carmakers can make their electric vehicles even greener — with the help of bamboo and bananas. Car companies got a sneak preview of von Holzhausen's work in a one-of-a-kind Tesla Model S Plaid equipped by supplier partner Unplugged Performance with the company’s Banbu, a biodegradable vegan material made from bamboo fibers. Von Holzhausen continues to push the frontiers of sustainable material with its latest product, Replant, described as a farm-to-fabric material made from plant fibers recycled from agricultural waste — currently bananas.
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“We’re working with all of the (vehicle) manufacturers,” von Holzhausen said in an interview. Car companies got a sneak preview of von Holzhausen's work in a one-of-a-kind Tesla Model S Plaid equipped by supplier partner Unplugged Performance with the company’s Banbu, a biodegradable vegan material made from bamboo fibers. She said her firm does not do business directly with Tesla.
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041c42ca-de9e-49f1-bc6a-024ef1341db8
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714449.0
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2023-12-06 00:00:00 UTC
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Top Research Reports for Alphabet, NVIDIA & Roche
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https://www.nasdaq.com/articles/top-research-reports-for-alphabet-nvidia-roche
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Wednesday, December 6, 2023
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Alphabet Inc. (GOOGL), NVIDIA Corporation (NVDA) and Roche Holding AG (RHHBY). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Alphabet shares have outperformed the Zacks Internet - Services industry over the year-to-date period (+48.5% vs. +47.6%). The company’s strong cloud division is aiding substantial revenue growth. Moreover, expanding data centers will continue to bolster its presence in the cloud space.
Further, major updates in its search segment are enhancing the search results. Also, strong focus on innovation of AI techniques and the home automation space should aid business growth in the long term. Further, its deepening focus on wearables category remains a tailwind.
Alphabet’s expanding presence in the autonomous driving space is contributing well. Its growing efforts to gain foothold in the healthcare industry are other positives. However, sluggishness in the company’s Network advertisement businessremains a headwind. Additionally, its growing litigation issues and increasing expenses are concerns.
(You can read the full research report on Alphabet here >>>)
Shares of NVIDIA have outperformed the Zacks Semiconductor - General industry over the past six months (+24.3% vs. +20.3%). The company’s Compute & Networking revenues are gaining from strong growth of artificial intelligence (AI), high-performance computing and accelerated computing.
The datacenter end-market business is likely to benefit from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures. A surge in Hyperscale demand and a solid uptake of AI-based smart cockpit infotainment solutions are acting as tailwinds.
Collaborations with Mercedes-Benz and Audi are likely to advance its presence in autonomous vehicles and other automotive electronics space. However, its near-term prospects are likely to be hurt by weakening demand for chips used in the professional visualization end-market.
(You can read the full research report on NVIDIA here >>>)
Shares of Roche have underperformed the Zacks Large Cap Pharmaceuticals industry over the past six months (-9.1% vs. +7.0%). The company’s performance has been impacted by lower COVID-19-product-related sales, which has significantly impacted its top line, even though the diagnostics base business and newer drugs maintain growth.
Sales are likely to be affected further by the expected nosedive in sales of COVID-19 products worth nearly CHF 4.5 billion. Competition from biosimilars for established cancer medicines like Avastin, MabThera/Rituxan and Herceptin also hurt sales.
Nevertheless, new drugs, namely Ocrevus, Hemlibra, Evrysdi, Phesgo, Polivy and Tecentriq, have put up a stellar performance. The uptake of the new eye drug, Vabysmo, has been outstanding. The company’s efforts to develop new drugs to combat the decline in legacy drugs are encouraging.
(You can read the full research report on Roche here >>>)
Other noteworthy reports we are featuring today include Intuit Inc. (INTU), Anheuser-Busch InBev SA/NV (BUD) and AT&T Inc. (T).
Director of Research
Sheraz Mian
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Solid Momentum in Cloud Business Benefits Alphabet (GOOGL)
NVIDIA (NVDA) Rides on Strong Adoption of GPUs, Partnerships
New Drugs Boost Roche (RHHBY), COVID-19 Treatments Decline
Featured Reports
Intuit (INTU) Rides on Product Refresh, Higher Subscriptions
Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Moreover, increase in subscriptions is driving stable revenue growth for the company.
Global Brands Strength Drive AB InBev's (BUD) Organic Sales
Per the Zacks analyst, strength in global brands led to AB InBev's organic sales growth in third-quarter 2023, backed by improving key market trends and premiumization in majority of its markets.
AT&T (T) Rides on Wireless Traction, Fiber Densification
Per the Zacks analyst, AT&T is poised to benefit from solid wireless traction and fiber densification backed by a customer-centric business model, lower churn rate and higher-tier unlimited plans.
Deere (DE) Gains from Pricing Actions Amid Elevated Costs
Per the Zacks analyst, efforts to improve pricing are boosting Deere's growth. However, inflated material and labor costs are impacting the company's margins.
IDEXX (IDXX) Aided by Targeted Plan Execution Amid Macro Woe
The Zacks Analyst is impressed with IDEXX gaining from strong execution of plans, including premium instrument placement and recurring veterinary software sales growth. Yet, macro woes are concerning.
Strong Product Portfolio Buoys Optimism for Baxter (BAX)
Per the Zacks analysts, Baxter International is well poised for growth backed by a strong product portfolio. Introduction of new therapies and products likely to drive the topline growth.
WEX to Gain From Payzer Acquisition, Liquidity Declines
Per the Zacks analyst, the Payzer acquisition is likely to strengthen WEX's growth strategy by offering scalable SaaS to small business customers. Declining liquidity is a concern.
New Upgrades
Solid Bookings & Fleet Expansion to Aid Royal Caribbean (RCL)
Per the Zacks analyst, Royal Caribbean is likely to benefit from robust booking trends, strong pricing (on closer-in-demand) and digital innovations. Also, focus on fleet expansion bode well.
Everest Group (EG) Poised to Grow on Solid Insurance segment
Per the Zacks analyst, Everest Group is set to grow on solid Insurance segment on the back of product diversification, insurance expansion, new business opportunities, which drives premium growth.
Liberty Energy (LBRT) to Benefit from Multi-Basin Presence
The Zacks analyst believes that Liberty Energy's widespread presence in the top North American shale plays provides it with a competitive advantage over its peers.
New Downgrades
Weather Variation & Third Party Failure Ail Clearway (CWEN)
Per the Zacks analyst Clearway Energy's (CWEN) power production from renewable asset gets impacted due to adverse weather conditions. Third-party transmission line failure can hurt operation.
Soft Americas Retail Unit Hurts Guess? (GES) Performance
Per the Zacks analyst, weakness in Americas Retail segment is hurting Guess?'s performance. In third-quarter fiscal 2024 segment revenues fell 7% on soft customer traffic.
Lower Transactions Amid High Rates to Hurt Jones Lang (JLL)
Per the Zacks analyst, lower commercial real estate transactions amid macroeconomic uncertainty and high interest rates offer a bleak prospect for Jones Lang LaSalle's transaction-based businesses.
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
Roche Holding AG (RHHBY) : Free Stock Analysis Report
AT&T Inc. (T) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Intuit Inc. (INTU) : Free Stock Analysis Report
Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The datacenter end-market business is likely to benefit from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures. If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Solid Momentum in Cloud Business Benefits Alphabet (GOOGL) NVIDIA (NVDA) Rides on Strong Adoption of GPUs, Partnerships New Drugs Boost Roche (RHHBY), COVID-19 Treatments Decline Featured Reports Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Lower Transactions Amid High Rates to Hurt Jones Lang (JLL) Per the Zacks analyst, lower commercial real estate transactions amid macroeconomic uncertainty and high interest rates offer a bleak prospect for Jones Lang LaSalle's transaction-based businesses.
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If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Solid Momentum in Cloud Business Benefits Alphabet (GOOGL) NVIDIA (NVDA) Rides on Strong Adoption of GPUs, Partnerships New Drugs Boost Roche (RHHBY), COVID-19 Treatments Decline Featured Reports Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Global Brands Strength Drive AB InBev's (BUD) Organic Sales Per the Zacks analyst, strength in global brands led to AB InBev's organic sales growth in third-quarter 2023, backed by improving key market trends and premiumization in majority of its markets. Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report AT&T Inc. (T) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Intuit Inc. (INTU) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Solid Momentum in Cloud Business Benefits Alphabet (GOOGL) NVIDIA (NVDA) Rides on Strong Adoption of GPUs, Partnerships New Drugs Boost Roche (RHHBY), COVID-19 Treatments Decline Featured Reports Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Everest Group (EG) Poised to Grow on Solid Insurance segment Per the Zacks analyst, Everest Group is set to grow on solid Insurance segment on the back of product diversification, insurance expansion, new business opportunities, which drives premium growth. Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report AT&T Inc. (T) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Intuit Inc. (INTU) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company’s strong cloud division is aiding substantial revenue growth. The company’s performance has been impacted by lower COVID-19-product-related sales, which has significantly impacted its top line, even though the diagnostics base business and newer drugs maintain growth. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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714450.0
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2023-12-06 00:00:00 UTC
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NFLX vs. ROKU: Which Streaming Stock is the Better Buy?
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https://www.nasdaq.com/articles/nflx-vs.-roku%3A-which-streaming-stock-is-the-better-buy
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In this piece, I evaluated two streaming stocks, Netflix (NASDAQ:NFLX) and Roku (NASDAQ:ROKU), using TipRanks' comparison tool to determine which is better. A closer look suggests a neutral view for Netflix and a bearish view for Roku.
While Netflix and Roku both address the streaming media industry, they do so in different ways. In fact, Roku was actually spun off from Netflix in 2008. Netflix is a subscription video-on-demand streaming service that distributes both original and acquired TV shows and movies from a wide variety of genres.
On the other hand, Roku manufactures and sells devices and smart TVs that deliver streaming services like Netflix to consumers. It also licenses its streaming technology to other manufacturers and sells ads on its own streaming network, which has 70 million viewers. Netflix stock is up 54% year-to-date, while Roku stock is up 154% year-to-date, following a 25% gain over the last three months.
With Roku's much higher share price gain, one would think it's growing much faster than Netflix. However, Netflix's growth is on top of a much larger base, which is important to remember when gauging sales and earnings growth. In fact, both companies have seen slowdowns since the pandemic, as people aren't forced to stay home all the time.
Since Netflix and Roku address the streaming media industry in different ways, a head-to-head comparison of their valuations doesn't work as well as it does with companies in the same industry. However, there are several other factors to consider that make it clear what sort of view each of them deserves.
Netflix (NASDAQ:NFLX)
Netflix has long been a Wall Street darling, although its price-to-earnings (P/E) ratio has tumbled in recent years, declining to around 45 versus its mean P/E of 67.7 since January 2019. While the stock has backed off its 52-week high of about $485, a neutral view seems appropriate — with a plan to monitor for a more attractive entry price.
First, it's important to realize that Netflix isn't going anywhere any time soon, and it will probably continue to be a favorite stock despite its slower growth. Although the stock is off 12% over the last three years, it's up 60% over the last five and an impressive 793% over the last 10.
Thus, Netflix could be worth buying and holding for the very long term, but it seems like a better entry price may be coming down the pike before too long. The stock plummeted in early 2022 as the post-pandemic slowdown became apparent in the company's financials, but it has since rebounded.
In its third-quarter earnings report, Netflix guided for an 11% increase in revenue for the fourth quarter, bringing it to $8.69 billion, although it came up short of the analyst consensus of $8.77 billion. The company also guided for net subscriber additions to be similar to what it saw in the third quarter.
Despite these warnings, it seems likely that Netflix will disappoint with its fourth-quarter earnings report. Even if there is no significant sell-off there, any signs of a major economic slowdown could be a temporary drag on Netflix stock, presenting a better opportunity to buy shares.
Although they've soared over the last 10 years, Netflix shares have had their ups and downs during that time. Thus, it seems like only a matter of time before a temporary reversal presents a buying opportunity.
What is the Price Target for NFLX Stock?
Netflix has a Moderate Buy consensus rating based on 24 Buys, 10 Holds, and one Sell rating assigned over the last three months. At $468.30, the average Netflix stock price target implies upside potential of 3.9%.
Roku (NASDAQ:ROKU)
Meanwhile, Roku is unprofitable, and its worsening margins suggest its growing scale isn't even helping it approach profitability. The significant number of insider sales and high Relative Strength Index (RSI) complete the bearish picture for Roku.
First, Roku is in overbought territory, with an RSI of 70.7. Any RSI over 70 suggests a stock may be overbought and due for a correction. Although Roku's RSI has ticked down slightly over the last 24 hours, there are enough other concerns to restrain a more constructive view.
As far as insider sales, TipRanks reports Informative Buys of $2.7 million worth of Roku shares over the last three months. However, a closer look reveals that the last informative-buy transaction was for $7.6 million three months ago, and since then, a growing number of Informative Sell transactions has been chipping away at that one Informative Buy transaction.
Additionally, there's a meaningful number of Auto Sell transactions by insiders, which are not included in the tally of Informative Buys. Insiders typically file pre-set trading plans with the Securities and Exchange Commission, often including a price at which to automatically sell their shares so that they can avoid allegations of insider trading.
Thus, a significant number of Auto Sell transactions suggests insiders don't see anymore near-term upside in their company's stock, which is a bearish signal for investors.
Finally, Roku's margins are cause for concern. The company's operating margins tumbled from 8.7% in 2021 to -15.8% in 2022 and -17.4% in the last 12 months. Meanwhile, Roku's net income margins fell from 8.8% in 2021 to -15.9% in 2022 and -25.8% in the last 12 months, indicating that its revenue growth of 55.5% in 2021 and 13.1% in 2022 (reflecting a post-pandemic slowdown) is not improving its prospects for profitability.
What is the Price Target for ROKU Stock?
Roku has a Moderate Buy consensus rating based on 10 Buys, 13 Holds, and two Sell ratings assigned over the last three months. At $86.52, the average Roku stock price target implies downside potential of 16.25%.
Conclusion: Neutral on NFLX, Bearish on ROKU
Long-term trends show why Netflix is likely a good long-term position, but they also indicate that Netflix shares tend to rise and fall a lot over an extended period. As a result, it seems like only a matter of time before a meaningful drop will present a buying opportunity, especially in the event of any serious economic downturn.
On the other hand, Roku's long-term trends reveal an unprofitable company with steadily worsening margins that suggest it may not achieve full-year, unadjusted profitability for some time, perhaps even several years. Thus, when paired with its soaring stock price, Roku's worsening financial picture makes it look very unattractive to investors.
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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Thus, a significant number of Auto Sell transactions suggests insiders don't see anymore near-term upside in their company's stock, which is a bearish signal for investors. Meanwhile, Roku's net income margins fell from 8.8% in 2021 to -15.9% in 2022 and -25.8% in the last 12 months, indicating that its revenue growth of 55.5% in 2021 and 13.1% in 2022 (reflecting a post-pandemic slowdown) is not improving its prospects for profitability. On the other hand, Roku's long-term trends reveal an unprofitable company with steadily worsening margins that suggest it may not achieve full-year, unadjusted profitability for some time, perhaps even several years.
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In this piece, I evaluated two streaming stocks, Netflix (NASDAQ:NFLX) and Roku (NASDAQ:ROKU), using TipRanks' comparison tool to determine which is better. At $468.30, the average Netflix stock price target implies upside potential of 3.9%. As far as insider sales, TipRanks reports Informative Buys of $2.7 million worth of Roku shares over the last three months.
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In this piece, I evaluated two streaming stocks, Netflix (NASDAQ:NFLX) and Roku (NASDAQ:ROKU), using TipRanks' comparison tool to determine which is better. Netflix stock is up 54% year-to-date, while Roku stock is up 154% year-to-date, following a 25% gain over the last three months. Roku (NASDAQ:ROKU) Meanwhile, Roku is unprofitable, and its worsening margins suggest its growing scale isn't even helping it approach profitability.
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A closer look suggests a neutral view for Netflix and a bearish view for Roku. As far as insider sales, TipRanks reports Informative Buys of $2.7 million worth of Roku shares over the last three months. Additionally, there's a meaningful number of Auto Sell transactions by insiders, which are not included in the tally of Informative Buys.
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714451.0
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2023-12-06 00:00:00 UTC
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SoFi Stock: Buy or Sell?
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https://www.nasdaq.com/articles/sofi-stock%3A-buy-or-sell
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Shares of SoFi Technologies (SOFI) are still up about 80% year-to-date in 2023, even after relinquishing some gains. Currently valued at a market cap of $7.67 billion, shares of the financial services company have easily outperformed the S&P 500 Index ($SPX). Nevertheless, SOFI remains 71% below its three-year high of $28.26.
Given that SoFi stock is currently priced at a steep discount to its three-year high, it is worth taking a look to see whether the fintech stock is a smart buy at the current valuation - or if investors should consider selling to secure profits.
www.barchart.com
Stellar Growth Continues at SOFI in Q3
While the macro headwinds continued to pose challenges throughout 2023, strong momentum in SoFi’s business has continued. The recently concluded Q3 performance marks a significant achievement, with SoFi achieving record revenues for the 10th consecutive quarter. Concurrently, the company has secured record adjusted EBITDA for the fifth successive quarter, showcasing robust performance across all business segments with enhanced revenue and improved margins.
In Q3, SoFi reported adjusted net revenue of $531 million, reflecting a 27% year-over-year increase. Additionally, the adjusted EBITDA surged by 121%. New members rose 47% during the quarter to 717,000, bringing the total member count close to 7 million. Notably, over 1 million new products were added during the quarter, resulting in a total of 10 million products by the quarter's end.
A notable highlight is the Financial Services segment, which achieved positive contribution profit for the first time. This accomplishment bolstered its overall profitability even as the company invested aggressively in growth initiatives.
SoFi's lending business remains robust, driven by strong net interest income, which was up 90% year-over-year in Q3. Moreover, net interest income now exceeds expenses by almost two-fold. Particularly noteworthy is the increase of high-quality deposits by $2.9 billion quarter-over-quarter, reaching $15.7 billion by the end of the quarter. Impressively, 90% of consumer deposits originate from sticky direct deposit members, and 98% of deposits are insured.
The company’s rapidly expanding high-quality deposit base is integral to its growth strategy. Overall, the resilience and strength of its business continue to drive its success amid challenging market conditions.
Given the strength in its business, the company once again revised its 2023 guidance upward. It increased its 2023 revenue guidance to a range of $2.045 billion to $2.065 billion from $1.974 billion to $2.034 billion. Moreover, it expects 2023 adjusted EBITDA to be between $386 million to $396 million, up from its previous guidance of $333 million to $343 million.
Growth Catalysts for SOFI
SoFi is well-positioned for robust growth in the upcoming quarters, driven by multiple catalysts. The company’s impressive expansion in members and products will likely fuel top-line growth. Moreover, improved operating efficiency, and growing margins suggest that SoFi is poised to deliver sustainable profitability in the coming years.
Notably, SoFi has expanded its personal loan business with stringent credit standards, which is commendable. The company’s commitment to offering high-quality loans has resulted in a robust credit performance, as evidenced by on-balance sheet delinquency rates and charge-off rates that remain below pre-pandemic levels.
SoFi stands to benefit from higher student loan and home loan originations. Beyond increased loan originations, the company is diversifying its funding sources, with a notable boost in loans funded by high-quality deposits, leading to cost savings.
Overall, SoFi’s diversified revenue streams; acceleration in the Technology Platform revenue via higher product adoption; strong balance sheet with access to a lower cost of capital; growing lending capacity (over $27 billion in total capacity to fund loans); and focus on profitability bode well for growth.
Is SoFi Stock a Buy or Sell?
SoFi stock has experienced significant appreciation already, and most Wall Street analysts are not endorsing it. Additionally, concerns exist around macroeconomic uncertainty, which could impact loan originations and pose short-term challenges.
Among the 18 analysts covering SoFi stock, five have a “strong buy” recommendation, 11 analysts recommend a “Hold,” and two maintain a “Strong Sell.” The average price target for SoFi stock is $9.25, which suggests a potential upside of about 15% from current levels.
www.barchart.com
Nevertheless, SoFi's strong quarterly performance, expanding customer base, robust interest income, high-quality loan originations, and growing lending capacity bode well for long-term growth. Consequently, investors with a long-term perspective may consider accumulating SoFi stock at its current trading price.
On the date of publication, Sneha Nahata did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Concurrently, the company has secured record adjusted EBITDA for the fifth successive quarter, showcasing robust performance across all business segments with enhanced revenue and improved margins. Moreover, improved operating efficiency, and growing margins suggest that SoFi is poised to deliver sustainable profitability in the coming years. www.barchart.com Nevertheless, SoFi's strong quarterly performance, expanding customer base, robust interest income, high-quality loan originations, and growing lending capacity bode well for long-term growth.
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Concurrently, the company has secured record adjusted EBITDA for the fifth successive quarter, showcasing robust performance across all business segments with enhanced revenue and improved margins. SoFi's lending business remains robust, driven by strong net interest income, which was up 90% year-over-year in Q3. www.barchart.com Nevertheless, SoFi's strong quarterly performance, expanding customer base, robust interest income, high-quality loan originations, and growing lending capacity bode well for long-term growth.
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Overall, SoFi’s diversified revenue streams; acceleration in the Technology Platform revenue via higher product adoption; strong balance sheet with access to a lower cost of capital; growing lending capacity (over $27 billion in total capacity to fund loans); and focus on profitability bode well for growth. Among the 18 analysts covering SoFi stock, five have a “strong buy” recommendation, 11 analysts recommend a “Hold,” and two maintain a “Strong Sell.” The average price target for SoFi stock is $9.25, which suggests a potential upside of about 15% from current levels. www.barchart.com Nevertheless, SoFi's strong quarterly performance, expanding customer base, robust interest income, high-quality loan originations, and growing lending capacity bode well for long-term growth.
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Concurrently, the company has secured record adjusted EBITDA for the fifth successive quarter, showcasing robust performance across all business segments with enhanced revenue and improved margins. SoFi's lending business remains robust, driven by strong net interest income, which was up 90% year-over-year in Q3. www.barchart.com Nevertheless, SoFi's strong quarterly performance, expanding customer base, robust interest income, high-quality loan originations, and growing lending capacity bode well for long-term growth.
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2023-12-06 00:00:00 UTC
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AMD forecasts $45 billion AI chip market this year
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https://www.nasdaq.com/articles/amd-forecasts-%2445-billion-ai-chip-market-this-year
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By Max A. Cherney
Dec 6 (Reuters) - AMD AMD.O estimated there was a $45 billion market for 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 version of the processor for generative AI, the MI300X, includes advanced high-bandwidth memory that improves performance.
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)
((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 data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday. As AMD launched the new processors, company executives outlined how rapidly demand for AI chips has increased. 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 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 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. 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 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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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: ALGN, SMCI, SMTC
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-algn-smci-smtc
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Align Technology Inc (Symbol: ALGN), where a total of 15,001 contracts have traded so far, representing approximately 1.5 million underlying shares. That amounts to about 137.8% of ALGN's average daily trading volume over the past month of 1.1 million shares. Especially high volume was seen for the $290 strike put option expiring January 19, 2024, with 3,515 contracts trading so far today, representing approximately 351,500 underlying shares of ALGN. Below is a chart showing ALGN's trailing twelve month trading history, with the $290 strike highlighted in orange:
Super Micro Computer Inc (Symbol: SMCI) options are showing a volume of 31,926 contracts thus far today. That number of contracts represents approximately 3.2 million underlying shares, working out to a sizeable 105.4% of SMCI's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $300 strike call option expiring December 15, 2023, with 2,209 contracts trading so far today, representing approximately 220,900 underlying shares of SMCI. Below is a chart showing SMCI's trailing twelve month trading history, with the $300 strike highlighted in orange:
And Semtech Corp. (Symbol: SMTC) options are showing a volume of 14,406 contracts thus far today. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 103.3% of SMTC's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $16 strike put option expiring June 21, 2024, with 3,005 contracts trading so far today, representing approximately 300,500 underlying shares of SMTC. Below is a chart showing SMTC's trailing twelve month trading history, with the $16 strike highlighted in orange:
For the various different available expirations for ALGN options, SMCI options, or SMTC options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Vince Holding Historical PE Ratio
Funds Holding LNW
Top Ten Hedge Funds Holding YOTA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $290 strike put option expiring January 19, 2024, with 3,515 contracts trading so far today, representing approximately 351,500 underlying shares of ALGN. Especially high volume was seen for the $300 strike call option expiring December 15, 2023, with 2,209 contracts trading so far today, representing approximately 220,900 underlying shares of SMCI. Particularly high volume was seen for the $16 strike put option expiring June 21, 2024, with 3,005 contracts trading so far today, representing approximately 300,500 underlying shares of SMTC.
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That number of contracts represents approximately 3.2 million underlying shares, working out to a sizeable 105.4% of SMCI's average daily trading volume over the past month, of 3.0 million shares. Below is a chart showing SMCI's trailing twelve month trading history, with the $300 strike highlighted in orange: And Semtech Corp. (Symbol: SMTC) options are showing a volume of 14,406 contracts thus far today. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 103.3% of SMTC's average daily trading volume over the past month, of 1.4 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Align Technology Inc (Symbol: ALGN), where a total of 15,001 contracts have traded so far, representing approximately 1.5 million underlying shares. That number of contracts represents approximately 3.2 million underlying shares, working out to a sizeable 105.4% of SMCI's average daily trading volume over the past month, of 3.0 million shares. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 103.3% of SMTC's average daily trading volume over the past month, of 1.4 million shares.
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That number of contracts represents approximately 3.2 million underlying shares, working out to a sizeable 105.4% of SMCI's average daily trading volume over the past month, of 3.0 million shares. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 103.3% of SMTC's average daily trading volume over the past month, of 1.4 million shares. Below is a chart showing SMTC's trailing twelve month trading history, with the $16 strike highlighted in orange: For the various different available expirations for ALGN options, SMCI options, or SMTC options, visit StockOptionsChannel.com.
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2023-12-06 00:00:00 UTC
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3 Dividend Stocks to Buy Before the Bear Market Starts
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https://www.nasdaq.com/articles/3-dividend-stocks-to-buy-before-the-bear-market-starts
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Over the past four years, investors have become very familiar with stock market volatility. Wild swings in the S&P 500 have been the norm as the index swung from bull to bear market and back again. We may be trending higher once more, but smart investors understand the next correction is always just over the horizon.
Warren Buffett has been a net seller of stocks over the past year. He’s built up a massive $157 billion war chest that he’ll be ready when the next bear market hits. The Oracle of Omaha loves to buy stocks of good businesses when they go on sale. You should be ready too.
One of the best ways to make money on Wall Street is to buy dividend stocks. Companies that share their success with investors tend to be profitable and have been tested over time through various market conditions. The fact that they come out stronger on the other side indicates they are the type of high-quality stocks you want to own.
It’s no coincidence dividend stocks also tend to outperform those that don’t pay a dividend. Looking at data going all the way back to 1930, Hartford Funds found there was not a single decade when dividend-payers on the S&P 500 did not generate positive returns. Non-income-generating stocks can’t say the same thing.
Because dividend stocks minimize the impact downturns have on your portfolio, the following three companies are income stocks you want to buy before the next bear market starts growling.
Altria (MO)
Source: viewimage / Shutterstock.com
Tobacco giant Altria (NYSE:MO) is the first dividend stock to buy before the long winter of a downturn sets in. Its payout yields a mouth-watering 9% annually, and the stock has long been a lucrative income stream for investors.
Smoking is in a secular decline but Altria remains highly profitable due to the addictive nature of nicotine. The income stream it throws off tends to be reliable and stable. After acquiring electronic cigarette manufacturer NJOY, Altria has the potential to make a lasting mark on the industry’s smoke-free future.
NJOY is the third largest e-cig manufacturer behind British American Tobacco (NYSE:BTI) and one-time Altria investment vehicle Juul Labs. The e-cig maker is far behind its rivals, but with the marketing muscle of Altria behind it and the ability to use the top-selling Marlboro brand, NJOY should quickly gain ground.
But Altria is not a growth stock. Rather, it is a steady business that does well in downturns and boom times. Possessing significant pricing power, a loyal customer base and the potential to take market share in an emerging category means it deserves a place in your portfolio before the market correction happens.
Walgreens Boots Alliance (WBA)
Source: saaton / Shutterstock.com
It’s been a tough year for pharmacy chain Walgreens Boots Alliance (NASDAQ:WBA). The fading impact of COVID-19 on people’s daily lives is a significant headwind. Walgreens administered just 400,000 vaccinations in the third quarter versus 2.9 million in the same quarter of 2022.
Speaking of, the cold and flu season wasn’t as bad as expected either, with activity down 35% year over year. The company also got caught up in the opioid epidemic that snared many in the industry. Walgreens paid out a substantial settlement for its alleged role in the crisis. But these are all transient issues for the pharmacy.
What really dragged down Walgreens was the decision not to sell its U.K.-based Boots chain and beauty care company No7 Beauty. Investors wanted a more U.S.-focused healthcare company, and keeping the businesses indicated management would be distracted.
However, they are still top-performing businesses and Walgreens’ healthcare operations are also performing well. It acquired CareCentrix, while its VillageMD bought Summit Health. Segment sales rose overall as the acquired businesses turned in strong performances.
Walgreens’ dividend yields 9.3%, making it one of the highest-yielding Dividend Aristocrats. While some worry the dividend is not sustainable, the company said the payout is a high priority that it reviews annually. Healthcare is something you can’t turn off in a downturn. It means Walgreens is a dividend stock to buy now before a bear market hits.
International Business Machines (IBM)
Source: shutterstock.com/LCV
International Business Machines (NYSE:IBM) is the third stock investors should be looking at ahead of a correction or crash. This is not your father’s slow-growth, computer company. Instead, IBM is a nimble, tech stock with a finger in all facets of tomorrow’s technology. It may not always be the first to market with innovation, but it is capable of spotting a trend and jumping on it.
It missed the transition to cloud computing but quickly made up for lost time. IBM now offers a full-stack cloud platform with over 170 products and services. They cover data, containers, artificial intelligence (AI), Internet of Things and even blockchain technology. IBM acquired Red Hat in 2019 and is using the open-source software leader to position itself as a hybrid cloud solutions provider.
IBM is also working on next-generation, heavy metal-free batteries for electric vehicles. More recently it began rolling out its watsonx AI and data platform. It offers a suite of integrated tools for working with generative AI capabilities.
The changes are having an impact. Revenue and margins are widening. The stock is up 33% from recent lows but only trades at a discounted 12 times the free cash flow it produces. With a dividend yielding 4.1% annually, Big Blue possesses downside protection as it builds up its high-growth opportunities. Both will serve it well in a bear market.
On the date of publication, Rich Duprey held a long position in MO and WBA 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 Dividend Stocks to Buy Before the Bear Market Starts 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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NJOY is the third largest e-cig manufacturer behind British American Tobacco (NYSE:BTI) and one-time Altria investment vehicle Juul Labs. The e-cig maker is far behind its rivals, but with the marketing muscle of Altria behind it and the ability to use the top-selling Marlboro brand, NJOY should quickly gain ground. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires.
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Altria (MO) Source: viewimage / Shutterstock.com Tobacco giant Altria (NYSE:MO) is the first dividend stock to buy before the long winter of a downturn sets in. Walgreens Boots Alliance (WBA) Source: saaton / Shutterstock.com It’s been a tough year for pharmacy chain Walgreens Boots Alliance (NASDAQ:WBA). International Business Machines (IBM) Source: shutterstock.com/LCV International Business Machines (NYSE:IBM) is the third stock investors should be looking at ahead of a correction or crash.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Over the past four years, investors have become very familiar with stock market volatility. Because dividend stocks minimize the impact downturns have on your portfolio, the following three companies are income stocks you want to buy before the next bear market starts growling. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Dividend Stocks to Buy Before the Bear Market Starts appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Over the past four years, investors have become very familiar with stock market volatility. Because dividend stocks minimize the impact downturns have on your portfolio, the following three companies are income stocks you want to buy before the next bear market starts growling. It means Walgreens is a dividend stock to buy now before a bear market hits.
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2023-12-06 00:00:00 UTC
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Trillion-Dollar Aspirations: 3 Stocks With Sky-High Potential
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https://www.nasdaq.com/articles/trillion-dollar-aspirations%3A-3-stocks-with-sky-high-potential
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Apple (NASDAQ:AAPL) was the first company to reach $1 trillion in market capitalization in 2018. Value creation has continued, with its market valuation topping $3 trillion in June 2023. Apple is a good example of stories driven by innovation that are a buy-and-hold forever. While AAPL stock remains interesting, I am on the lookout for the next trillion-dollar companies. Without a doubt, there will be major growth stories in the coming years that will translate into a surge in market valuation.
It won’t be just companies with sizzling growth entering the trillion-dollar club. There will be blue-chip stocks that gradually create value. This column focuses on these stocks with an investment horizon of five years.
A key screener is the cash flow potential. Ultimately, valuation depends on the company’s ability to generate cash. Apple’s core business is a cash flow machine allowing it to invest in dividends, share repurchases, acquisitions and product development.
Let’s talk about three potential trillion-dollar companies.
Chevron (CVX)
Source: Denis Kuvaev / Shutterstock.com
There is no doubt that policymakers globally are focusing on green energy. However, it’s too early to declare that the days of fossil fuel are over. Also, crude has declined due to sluggish global growth. With potential rate cuts impending next year, buying oil and gas stocks is a good opportunity. Chevron (NYSE:CVX) is one stock likely to create immense value.
After a decline of 18% year-to-date, CVX stock looks undervalued. Further, the stock offers a dividend yield of 4.17%. Given the company’s low break-even assets and ability to generate strong cash flows, I am currently bullish.
To put things into perspective, Chevron reported operating cash flow of $9.7 billion for Q3 2023. This translates into an annual cash flow potential of $40 billion. Additionally, cash flows will swell with the impending acquisition of Hess Corporation (NYSE:HES). After the acquisition, Chevron expects an annual capital expenditure of $19 billion to $22 billion. These investments will translate into production growth and further upside in free cash flows.
Salesforce (CRM)
Source: Sundry Photography / Shutterstock.com
Salesforce (NYSE:CRM) stock has surged by 86% year-to-date. However, valuations look reasonable, with the stock trading at a forward price-earnings ratio of 30.7. Salesforce has a big addressable market, ample headroom for growth, and has delivered healthy cash flows.
As an overview, Salesforce describes itself as the leading AI-driven customer relationship management company. By 2026, Salesforce believes its solutions will have a total addressable market of $290 billion. With presence across industries and geographic diversification, the growth outlook is robust.
For Q3 2023, Salesforce reported healthy revenue of $8.72 billion, and the outlook for Q4 is also positive. However, I want to focus on the cash flows. For the year’s first nine months, Salesforce reported operating cash flow of $6.8 billion. This implies an annual OCF potential of $9 billion. Further, the company has cash and equivalents of nearly $12 billion as of Q3. The cash flow potential and a healthy liquidity buffer provide scope for aggressive expansion and investment in product development.
Costco Wholesale (COST)
Source: ARTYOORAN / Shutterstock.com
Costco Wholesale (NASDAQ:COST) might race ahead of Walmart (NYSE:WMT) to become the first trillion-dollar retail stock. Of course, I am talking about traditional retail and not the likes of Amazon (NASDAQ:AMZN).
It’s worth noting that retail stocks have faced inflation-related challenges coupled with macroeconomic headwinds. However, COST stock has been a performer with an upside of 34% year-to-date. I expect strong comparable store sales growth to sustain the positive momentum.
An important point is that Costco has 738 warehouses in the United States, Canada and Mexico. Overall, the company has 861 warehouses globally. There is a significant concentration in North America. With just five warehouses in China, there is ample scope for expansion and growth.
Costco has also generated $4.6 billion in membership fees in the last 12 months. I expect recurring membership fees to swell further in the coming years. This will boost key margins and cash flows.
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 Trillion-Dollar Aspirations: 3 Stocks With Sky-High Potential 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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Apple’s core business is a cash flow machine allowing it to invest in dividends, share repurchases, acquisitions and product development. 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 Trillion-Dollar Aspirations: 3 Stocks With Sky-High Potential appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Apple (NASDAQ:AAPL) was the first company to reach $1 trillion in market capitalization in 2018. Salesforce (CRM) Source: Sundry Photography / Shutterstock.com Salesforce (NYSE:CRM) stock has surged by 86% year-to-date. Costco Wholesale (COST) Source: ARTYOORAN / Shutterstock.com Costco Wholesale (NASDAQ:COST) might race ahead of Walmart (NYSE:WMT) to become the first trillion-dollar retail stock.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Apple (NASDAQ:AAPL) was the first company to reach $1 trillion in market capitalization in 2018. Salesforce has a big addressable market, ample headroom for growth, and has delivered healthy cash flows. For the year’s first nine months, Salesforce reported operating cash flow of $6.8 billion.
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Let’s talk about three potential trillion-dollar companies. However, I want to focus on the cash flows. For the year’s first nine months, Salesforce reported operating cash flow of $6.8 billion.
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1fa8a87b-5a78-4a87-b551-e956f3b76ae3
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714456.0
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2023-12-06 00:00:00 UTC
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Why Lovesac Stock Popped Today
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https://www.nasdaq.com/articles/why-lovesac-stock-popped-today
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Shares of Lovesac (NASDAQ: LOVE) are up 10.6% as of 2 p.m. ET Wednesday after the furniture retailer announced better-than-expected quarterly results.
For its fiscal third quarter ended Oct. 29, Lovesac's revenue grew 14.3% year over year to $154 million. On the bottom line, that translated to a generally accepted accounting principles (GAAP) net loss of $2.3 million, or $0.15 per share, narrowed from a loss of $0.48 per share in the same year-ago period. Analysts, on average, were expecting a wider net loss of $0.30 per share on slightly lower revenue of $153.8 million.
A strong quarter for Lovesac despite macro headwinds
Lovesac's top line was driven by a combination of 18.9% growth in showroom net sales, which includes its kiosks and mobile concierges, and a 20.1% increase in internet channel sales. The company ended last quarter with 230 showrooms, up from 189 at the same point last year.
"Our disruptive Designed For Life platform, commitment to product innovation, compelling marketing, and highly productive omnichannel footprint continue to distinguish our unique brand and engender customer love and loyalty," stated Lovesac CEO Shawn Nelson. Nelson added that Lovesac has enjoyed a strong start to the holiday shopping season and has continued to take market share from competitors as it outperforms in spite of "the challenged category backdrop."
What's next for Lovesac stock?
Even so, Lovesac narrowed its full-year outlook to call for net sales of $710 million to $720 million (from $710 million to $730 million previously); adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $54 million to $62 million (from $51 million to $63 million before); and net income per share of $1.35 to $1.60 (narrowed from $1.21 to $1.75 previously). The midpoints of both ranges are roughly in line with Wall Street's consensus estimates, which call for full fiscal-year earnings of $1.47 per share and revenue of $715 million.
In the end, with shares of this consumer discretionary stock trading roughly flat from where they started the calendar year, it seems the market is breathing a sigh of relief that broader macroeconomic headwinds haven't impacted Lovesac as much as previously feared.
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Steve Symington has no position in any of the stocks mentioned. The Motley Fool recommends Lovesac. 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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Nelson added that Lovesac has enjoyed a strong start to the holiday shopping season and has continued to take market share from competitors as it outperforms in spite of "the challenged category backdrop." The midpoints of both ranges are roughly in line with Wall Street's consensus estimates, which call for full fiscal-year earnings of $1.47 per share and revenue of $715 million. In the end, with shares of this consumer discretionary stock trading roughly flat from where they started the calendar year, it seems the market is breathing a sigh of relief that broader macroeconomic headwinds haven't impacted Lovesac as much as previously feared.
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For its fiscal third quarter ended Oct. 29, Lovesac's revenue grew 14.3% year over year to $154 million. A strong quarter for Lovesac despite macro headwinds Lovesac's top line was driven by a combination of 18.9% growth in showroom net sales, which includes its kiosks and mobile concierges, and a 20.1% increase in internet channel sales. Even so, Lovesac narrowed its full-year outlook to call for net sales of $710 million to $720 million (from $710 million to $730 million previously); adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $54 million to $62 million (from $51 million to $63 million before); and net income per share of $1.35 to $1.60 (narrowed from $1.21 to $1.75 previously).
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A strong quarter for Lovesac despite macro headwinds Lovesac's top line was driven by a combination of 18.9% growth in showroom net sales, which includes its kiosks and mobile concierges, and a 20.1% increase in internet channel sales. Even so, Lovesac narrowed its full-year outlook to call for net sales of $710 million to $720 million (from $710 million to $730 million previously); adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $54 million to $62 million (from $51 million to $63 million before); and net income per share of $1.35 to $1.60 (narrowed from $1.21 to $1.75 previously). In the end, with shares of this consumer discretionary stock trading roughly flat from where they started the calendar year, it seems the market is breathing a sigh of relief that broader macroeconomic headwinds haven't impacted Lovesac as much as previously feared.
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Shares of Lovesac (NASDAQ: LOVE) are up 10.6% as of 2 p.m. Analysts, on average, were expecting a wider net loss of $0.30 per share on slightly lower revenue of $153.8 million. What's next for Lovesac stock?
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241d8dbb-013e-4905-a126-c0556323094a
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714457.0
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2023-12-06 00:00:00 UTC
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US STOCKS-S&P 500 flat as investors weigh fresh employment data
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-sp-500-flat-as-investors-weigh-fresh-employment-data
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By Noel Randewich and Amruta Khandekar
Dec 6 (Reuters) - U.S. stocks were mixed on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in energy shares limited gains.
The ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000. That provided fresh evidence of labor market weakness, a day after news of a drop in October job openings.
The latest employment data reinforced expectations the Fed's rate-hike campaign is cooling the economy.
"Right now, it's consistent with the overall trajectory of softening job growth, and so far that's not problematic because the economy is still humming along," said Bill Merz, head of capital markets research at U.S. Bank Wealth Management in Minneapolis.
"What would be concerning is if that trend persists for too long, and it turns into large job losses."
On Friday, the more comprehensive non-farm payrolls report for November will offer greater clarity on the state of the labor market.
Investors widely expect the Fed to hold rates steady at its meeting next week and potentially start cutting rates in March.
Optimism about rate cuts helped push the S&P 500 .SPX up nearly 9% in November, and the benchmark is now down about 9% from its record high close in December 2021.
Of the 11 S&P 500 sector indexes, six rose on Wednesday, led by utilities .SPLRCU, up 0.94%, followed by a 0.69% gain in industrials .SPLRCI.
Limiting gains, the energy index .SPNY slid 1.1% as oil prices fell by 2%. O/R
The S&P 500 was down 0.01% at 4,566.88 points, with nearly two stocks in the index gaining for each one that fell.
The Nasdaq declined 0.07% to 14,220.14 points, while the Dow Jones Industrial Average was up 0.12% at 36,169.17 points.
Plug PowerPLUG.Ofell 3.9% after Morgan Stanley downgraded the hydrogen fuel cell firm to "underweight" from "equal weight."
Tobacco giants Altria Group MO.N and Philip Morris International PM.Nslipped 2.6% and 1.6%, respectively, after UK peer British American Tobacco BATS.L said it will take a $31.5 billion hit from writing down the value of some U.S. cigarette brands.
Campbell SoupCPB.Nrallied 7.2% after the food seller beat quarterly profit expectations, helped by higher prices for its packaged meals and snacks.
The S&P 500 posted 29 new highs and no new lows; the Nasdaq recorded 94 new highs and 73 new lows.
ADP https://tmsnrt.rs/47OJ3zh
S&P 500 trades https://tmsnrt.rs/46KQrum
(Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang)
((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks were mixed on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in energy shares limited gains. "Right now, it's consistent with the overall trajectory of softening job growth, and so far that's not problematic because the economy is still humming along," said Bill Merz, head of capital markets research at U.S. Bank Wealth Management in Minneapolis. Campbell SoupCPB.Nrallied 7.2% after the food seller beat quarterly profit expectations, helped by higher prices for its packaged meals and snacks.
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By Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks were mixed on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in energy shares limited gains. Limiting gains, the energy index .SPNY slid 1.1% as oil prices fell by 2%. ADP https://tmsnrt.rs/47OJ3zh S&P 500 trades https://tmsnrt.rs/46KQrum (Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang) ((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks were mixed on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in energy shares limited gains. The ADP National Employment report showed private payrolls increased by 103,000 jobs in November, below economists' expectation of 130,000. ADP https://tmsnrt.rs/47OJ3zh S&P 500 trades https://tmsnrt.rs/46KQrum (Reporting by Amruta Khandekar and Shristi Achar A in Bangalore, and by Noel Randewich in Oakland, California; Editing by Pooja Desai and Richard Chang) ((noel.randewich@tr.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 Noel Randewich and Amruta Khandekar Dec 6 (Reuters) - U.S. stocks were mixed on Wednesday as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year, while weakness in energy shares limited gains. On Friday, the more comprehensive non-farm payrolls report for November will offer greater clarity on the state of the labor market. O/R The S&P 500 was down 0.01% at 4,566.88 points, with nearly two stocks in the index gaining for each one that fell.
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58e08f9a-a876-40e1-85e0-b4e9c2397568
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714458.0
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2023-12-06 00:00:00 UTC
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3 Stocks Leading the Evolution of Smart Home Technology
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https://www.nasdaq.com/articles/3-stocks-leading-the-evolution-of-smart-home-technology
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In the dynamic tech world, smart home stocks are emerging as exciting prospects. Last year, despite mirroring the market’s downturn with a 32% drop, these stocks are now showing promising signs of growth. And it goes beyond gadgets. Due to its innovative connectivity, this sector is transforming into a compelling investment arena.
Moreover, stocks in this sector are surging ahead. They are driven by the impressive average revenue growth in the U.S. home security systems sector. Reflecting this trend, about 43% of U.S. households now boast at least one smart device. And, 30% have equipped their homes with a security system.
Looking ahead, the smart home market is poised for significant growth. Analysts predict a powerful 11.43% annual growth for this market between 2023 and 2028, eyeing a jump to $231.6 billion. This surge is drawing attention to various promising smart home stocks. They range from established giants to new entrants, presenting a valuable opportunity for informed investors.
Honeywell International (HON)
Source: Shutterstock
Honeywell International (NASDAQ:HON) demonstrates its versatility and growth potential, notably in the smart home ecosystem.
This optimism is underpinned by Honeywell’s robust quarterly performance. It boasts a revenue of $9.2 billion, a 3% increase year over year (YOY). Notably, orders surged by 10%, and the backlog grew by 8% YOY, reaching a $31.4 billion record high. This success is paralleled in the building solutions sector, which saw a 4% organic growth due to stellar execution in building projects.
Furthermore, Honeywell is contributing to the decarbonization in the U.S. Virgin Islands. The company is providing battery energy storage solutions, marking a significant step in renewable energy advancement. TipRanks analysts echo this sentiment. They assign a moderate buy rating with a 9.7% upside potential, making this stock an attractive option for investors seeking growth and stability.
Amazon (AMZN)
Source: Tada Images / Shutterstock.com
Amazon (NASDAQ:AMZN), a titan in the tech world, continues to make significant strides in the smart home market.
The launch of Echo Hub, a device designed to streamline smart home management, exemplifies this. With its 8-inch display, it can process common requests 40% faster than previous generations, simplifying the control of smart home ecosystems.
Financially, Amazon’s performance is robust, with a remarkable 12.57% YOY increase in revenue, reaching $143.08 billion. Even more impressive is its net income growth, soaring by 244% to $9.9 billion! Additionally, its projected forward revenue growth of 10.32% significantly outpaces the sector median of 5.53% by over 89.43%.
Furthermore, Amazon’s advancements in conversational AI are commendable. It can facilitate handling multiple requests at once and perform Alexa routines solely through voice commands. Further, its stock price is rising 68.7% year to date (YTD). TipRanks analysts assign a strong buy rating with an anticipated upside of 20.25%. Thus, the stock is making a solid mark in the sector.
Alphabet (GOOG,GOOGL)
Source: IgorGolovniov / Shutterstock.com
Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is recognized as one of the world’s most valuable companies. It continues to showcase its innovative spirit by owning a variety of top-tier brands integral to daily life.
Highlighting this trend, Alphabet’s Google division has recently revitalized the Google Home app. Offering 18 new automation features, it significantly enhances user interactions with an array of smart home devices.
Moreover, Alphabet has exhibited remarkable strength in its latest quarter, with an impressive 11% YOY revenue increase, soaring to $77 billion. A substantial portion of this growth stems from advertising revenues. Amassing a staggering $59.65 billion, they are projected to continue an upward trajectory.
Furthermore, Alphabet’s venture into hardware, particularly with its Pixel devices, has garnered strong sales momentum. They show the company’s strategic AI integration, while enhancing the overall user experience. Consequently, TipRanks analysts endorse a strong buy rating. Also, they predict a 17.37% upside potential. Hence, the stock is solidifying its formidable market position.
On the date of publication, Muslim Farooque 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.
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 Leading the Evolution of Smart Home Technology appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They assign a moderate buy rating with a 9.7% upside potential, making this stock an attractive option for investors seeking growth and stability. With its 8-inch display, it can process common requests 40% faster than previous generations, simplifying the control of smart home ecosystems. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Stocks Leading the Evolution of Smart Home Technology appeared first on InvestorPlace.
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Honeywell International (HON) Source: Shutterstock Honeywell International (NASDAQ:HON) demonstrates its versatility and growth potential, notably in the smart home ecosystem. Financially, Amazon’s performance is robust, with a remarkable 12.57% YOY increase in revenue, reaching $143.08 billion. Alphabet (GOOG,GOOGL) Source: IgorGolovniov / Shutterstock.com Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is recognized as one of the world’s most valuable companies.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips In the dynamic tech world, smart home stocks are emerging as exciting prospects. Honeywell International (HON) Source: Shutterstock Honeywell International (NASDAQ:HON) demonstrates its versatility and growth potential, notably in the smart home ecosystem. Amazon (AMZN) Source: Tada Images / Shutterstock.com Amazon (NASDAQ:AMZN), a titan in the tech world, continues to make significant strides in the smart home market.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips In the dynamic tech world, smart home stocks are emerging as exciting prospects. Looking ahead, the smart home market is poised for significant growth. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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fb58a803-5499-460b-972e-ee0cd6779321
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714459.0
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2023-12-06 00:00:00 UTC
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Walmart top executives say difficult to predict consumer behavior next year
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DCOMP
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https://www.nasdaq.com/articles/walmart-top-executives-say-difficult-to-predict-consumer-behavior-next-year
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Adds details from Morgan Stanley conference throughout
Dec 6 (Reuters) - Walmart's WMT.N top executives said on Wednesday consumer behavior would be tougher to predict next year as financial strain pushes customers to be more cautious about spending their dollars.
Earlier on Wednesday, CEO Doug McMillon in an interview with CNBC said rising credit card balances and dwindling household bank accounts do raise questions about how much consumers would be spending.
Last month, Walmart had said that U.S. consumers were acting more cautious with spending during the holiday season. But data on Thanksgiving weekend showed that deep discounts on everything from beauty products and toys to electronics lured shoppers to spend bringing a relief to worried retailers.
(Reporting by Ananya Mariam Rajesh in Bengaluru and Siddharth Cavale in New York; Editing by Shailesh Kuber)
((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;))
The views and 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 from Morgan Stanley conference throughout Dec 6 (Reuters) - Walmart's WMT.N top executives said on Wednesday consumer behavior would be tougher to predict next year as financial strain pushes customers to be more cautious about spending their dollars. Earlier on Wednesday, CEO Doug McMillon in an interview with CNBC said rising credit card balances and dwindling household bank accounts do raise questions about how much consumers would be spending. But data on Thanksgiving weekend showed that deep discounts on everything from beauty products and toys to electronics lured shoppers to spend bringing a relief to worried retailers.
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Adds details from Morgan Stanley conference throughout Dec 6 (Reuters) - Walmart's WMT.N top executives said on Wednesday consumer behavior would be tougher to predict next year as financial strain pushes customers to be more cautious about spending their dollars. Last month, Walmart had said that U.S. consumers were acting more cautious with spending during the holiday season. (Reporting by Ananya Mariam Rajesh in Bengaluru and Siddharth Cavale in New York; Editing by Shailesh Kuber) ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;)) The views and 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 from Morgan Stanley conference throughout Dec 6 (Reuters) - Walmart's WMT.N top executives said on Wednesday consumer behavior would be tougher to predict next year as financial strain pushes customers to be more cautious about spending their dollars. Earlier on Wednesday, CEO Doug McMillon in an interview with CNBC said rising credit card balances and dwindling household bank accounts do raise questions about how much consumers would be spending. (Reporting by Ananya Mariam Rajesh in Bengaluru and Siddharth Cavale in New York; Editing by Shailesh Kuber) ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;)) The views and 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 from Morgan Stanley conference throughout Dec 6 (Reuters) - Walmart's WMT.N top executives said on Wednesday consumer behavior would be tougher to predict next year as financial strain pushes customers to be more cautious about spending their dollars. Earlier on Wednesday, CEO Doug McMillon in an interview with CNBC said rising credit card balances and dwindling household bank accounts do raise questions about how much consumers would be spending. Last month, Walmart had said that U.S. consumers were acting more cautious with spending during the holiday season.
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f39201d1-3233-4e32-81b5-ca2b25619304
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714460.0
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2023-12-06 00:00:00 UTC
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Ford says it unlikely Mustang Mach-E EV will qualify for federal tax credits in January
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DCOMP
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https://www.nasdaq.com/articles/ford-says-it-unlikely-mustang-mach-e-ev-will-qualify-for-federal-tax-credits-in-january
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By David Shepardson
Dec 6 (Reuters) - Ford Motor F.N said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January.
The U.S. Treasury issued guidance last week detailing new battery sourcing restrictions that take effect Jan. 1 aimed at weaning the U.S. EV supply chain away from China. The current model Mach-E currently qualifies for a $3,750 federal tax credit.
Ford has sold 35,908 Mach-E EVs in the U.S. in the first 11 months of the year, up 3.5% over the same period last year. In October, Ford said it was cutting some Mach-E production.
Ford also said in October it was postponing about $12 billion in EV investments, including delaying its second battery plant in Kentucky.
Ford also said in October it was temporarily cutting one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues.
CarsDirect reported the EV tax credit news earlier, citing a bulletin to dealers that said the expiring tax credit is "an excellent motivator to purchase before the end of the year" and encouraging dealers to complete sales by Dec. 31.
General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect on Jan. 1.
In December 2021, Ford had said it expected to triple the output of its all-electric Mustang Mach-E to over 200,000 units per year by 2023 for North America and Europe.
(Reporting by David Shepardson Editing by Chris Reese and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson Dec 6 (Reuters) - Ford Motor F.N said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January. Ford also said in October it was temporarily cutting one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues. General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect on Jan. 1.
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By David Shepardson Dec 6 (Reuters) - Ford Motor F.N said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January. Ford also said in October it was temporarily cutting one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues. General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect on Jan. 1.
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By David Shepardson Dec 6 (Reuters) - Ford Motor F.N said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January. CarsDirect reported the EV tax credit news earlier, citing a bulletin to dealers that said the expiring tax credit is "an excellent motivator to purchase before the end of the year" and encouraging dealers to complete sales by Dec. 31. General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect on Jan. 1.
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By David Shepardson Dec 6 (Reuters) - Ford Motor F.N said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January. The current model Mach-E currently qualifies for a $3,750 federal tax credit. Ford also said in October it was temporarily cutting one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues.
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70412582-442c-4baf-8c45-075347b0bacd
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714461.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: HUM, MPW, NE
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-hum-mpw-ne
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Humana Inc. (Symbol: HUM), where a total volume of 8,460 contracts has been traded thus far today, a contract volume which is representative of approximately 846,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 60% of HUM's average daily trading volume over the past month, of 1.4 million shares. Especially high volume was seen for the $455 strike put option expiring February 16, 2024, with 1,514 contracts trading so far today, representing approximately 151,400 underlying shares of HUM. Below is a chart showing HUM's trailing twelve month trading history, with the $455 strike highlighted in orange:
Medical Properties Trust Inc (Symbol: MPW) options are showing a volume of 84,078 contracts thus far today. That number of contracts represents approximately 8.4 million underlying shares, working out to a sizeable 59.6% of MPW's average daily trading volume over the past month, of 14.1 million shares. Particularly high volume was seen for the $5.50 strike call option expiring December 29, 2023, with 16,289 contracts trading so far today, representing approximately 1.6 million underlying shares of MPW. Below is a chart showing MPW's trailing twelve month trading history, with the $5.50 strike highlighted in orange:
And Noble Corporation plc (Symbol: NE) saw options trading volume of 7,056 contracts, representing approximately 705,600 underlying shares or approximately 56.3% of NE's average daily trading volume over the past month, of 1.3 million shares. Particularly high volume was seen for the $50 strike call option expiring January 19, 2024, with 2,408 contracts trading so far today, representing approximately 240,800 underlying shares of NE. Below is a chart showing NE's trailing twelve month trading history, with the $50 strike highlighted in orange:
For the various different available expirations for HUM options, MPW options, or NE options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
SOFI Stock Predictions
Broadcom Next Earnings Date
VIOV Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $455 strike put option expiring February 16, 2024, with 1,514 contracts trading so far today, representing approximately 151,400 underlying shares of HUM. Particularly high volume was seen for the $5.50 strike call option expiring December 29, 2023, with 16,289 contracts trading so far today, representing approximately 1.6 million underlying shares of MPW. Particularly high volume was seen for the $50 strike call option expiring January 19, 2024, with 2,408 contracts trading so far today, representing approximately 240,800 underlying shares of NE.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Humana Inc. (Symbol: HUM), where a total volume of 8,460 contracts has been traded thus far today, a contract volume which is representative of approximately 846,000 underlying shares (given that every 1 contract represents 100 underlying shares). Particularly high volume was seen for the $5.50 strike call option expiring December 29, 2023, with 16,289 contracts trading so far today, representing approximately 1.6 million underlying shares of MPW. Below is a chart showing MPW's trailing twelve month trading history, with the $5.50 strike highlighted in orange: And Noble Corporation plc (Symbol: NE) saw options trading volume of 7,056 contracts, representing approximately 705,600 underlying shares or approximately 56.3% of NE's average daily trading volume over the past month, of 1.3 million shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Humana Inc. (Symbol: HUM), where a total volume of 8,460 contracts has been traded thus far today, a contract volume which is representative of approximately 846,000 underlying shares (given that every 1 contract represents 100 underlying shares). Particularly high volume was seen for the $5.50 strike call option expiring December 29, 2023, with 16,289 contracts trading so far today, representing approximately 1.6 million underlying shares of MPW. Below is a chart showing MPW's trailing twelve month trading history, with the $5.50 strike highlighted in orange: And Noble Corporation plc (Symbol: NE) saw options trading volume of 7,056 contracts, representing approximately 705,600 underlying shares or approximately 56.3% of NE's average daily trading volume over the past month, of 1.3 million shares.
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Especially high volume was seen for the $455 strike put option expiring February 16, 2024, with 1,514 contracts trading so far today, representing approximately 151,400 underlying shares of HUM. Particularly high volume was seen for the $5.50 strike call option expiring December 29, 2023, with 16,289 contracts trading so far today, representing approximately 1.6 million underlying shares of MPW. Below is a chart showing MPW's trailing twelve month trading history, with the $5.50 strike highlighted in orange: And Noble Corporation plc (Symbol: NE) saw options trading volume of 7,056 contracts, representing approximately 705,600 underlying shares or approximately 56.3% of NE's average daily trading volume over the past month, of 1.3 million shares.
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9b343a64-cd58-4546-bf6d-da5e4ffdda70
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714462.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: ODFL, AXP, QCOM
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-odfl-axp-qcom
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Old Dominion Freight Line, Inc. (Symbol: ODFL), where a total of 3,067 contracts have traded so far, representing approximately 306,700 underlying shares. That amounts to about 49.9% of ODFL's average daily trading volume over the past month of 614,305 shares. Especially high volume was seen for the $360 strike put option expiring December 15, 2023, with 522 contracts trading so far today, representing approximately 52,200 underlying shares of ODFL. Below is a chart showing ODFL's trailing twelve month trading history, with the $360 strike highlighted in orange:
American Express Co. (Symbol: AXP) saw options trading volume of 13,820 contracts, representing approximately 1.4 million underlying shares or approximately 49% of AXP's average daily trading volume over the past month, of 2.8 million shares. Especially high volume was seen for the $138 strike call option expiring December 15, 2023, with 1,859 contracts trading so far today, representing approximately 185,900 underlying shares of AXP. Below is a chart showing AXP's trailing twelve month trading history, with the $138 strike highlighted in orange:
And Qualcomm Inc (Symbol: QCOM) saw options trading volume of 43,162 contracts, representing approximately 4.3 million underlying shares or approximately 48.9% of QCOM's average daily trading volume over the past month, of 8.8 million shares. Particularly high volume was seen for the $135 strike call option expiring January 19, 2024, with 5,357 contracts trading so far today, representing approximately 535,700 underlying shares of QCOM. Below is a chart showing QCOM's trailing twelve month trading history, with the $135 strike highlighted in orange:
For the various different available expirations for ODFL options, AXP options, or QCOM options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Top Stocks Held By Ken Griffin
SAR shares outstanding history
Institutional Holders of KOL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $360 strike put option expiring December 15, 2023, with 522 contracts trading so far today, representing approximately 52,200 underlying shares of ODFL. Especially high volume was seen for the $138 strike call option expiring December 15, 2023, with 1,859 contracts trading so far today, representing approximately 185,900 underlying shares of AXP. Particularly high volume was seen for the $135 strike call option expiring January 19, 2024, with 5,357 contracts trading so far today, representing approximately 535,700 underlying shares of QCOM.
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Especially high volume was seen for the $360 strike put option expiring December 15, 2023, with 522 contracts trading so far today, representing approximately 52,200 underlying shares of ODFL. Below is a chart showing ODFL's trailing twelve month trading history, with the $360 strike highlighted in orange: American Express Co. (Symbol: AXP) saw options trading volume of 13,820 contracts, representing approximately 1.4 million underlying shares or approximately 49% of AXP's average daily trading volume over the past month, of 2.8 million shares. Below is a chart showing AXP's trailing twelve month trading history, with the $138 strike highlighted in orange: And Qualcomm Inc (Symbol: QCOM) saw options trading volume of 43,162 contracts, representing approximately 4.3 million underlying shares or approximately 48.9% of QCOM's average daily trading volume over the past month, of 8.8 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Old Dominion Freight Line, Inc. (Symbol: ODFL), where a total of 3,067 contracts have traded so far, representing approximately 306,700 underlying shares. Below is a chart showing ODFL's trailing twelve month trading history, with the $360 strike highlighted in orange: American Express Co. (Symbol: AXP) saw options trading volume of 13,820 contracts, representing approximately 1.4 million underlying shares or approximately 49% of AXP's average daily trading volume over the past month, of 2.8 million shares. Below is a chart showing AXP's trailing twelve month trading history, with the $138 strike highlighted in orange: And Qualcomm Inc (Symbol: QCOM) saw options trading volume of 43,162 contracts, representing approximately 4.3 million underlying shares or approximately 48.9% of QCOM's average daily trading volume over the past month, of 8.8 million shares.
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Below is a chart showing ODFL's trailing twelve month trading history, with the $360 strike highlighted in orange: American Express Co. (Symbol: AXP) saw options trading volume of 13,820 contracts, representing approximately 1.4 million underlying shares or approximately 49% of AXP's average daily trading volume over the past month, of 2.8 million shares. Especially high volume was seen for the $138 strike call option expiring December 15, 2023, with 1,859 contracts trading so far today, representing approximately 185,900 underlying shares of AXP. Particularly high volume was seen for the $135 strike call option expiring January 19, 2024, with 5,357 contracts trading so far today, representing approximately 535,700 underlying shares of QCOM.
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076d3a5d-e794-4a89-b34d-fb9c67aa22ef
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714463.0
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2023-12-06 00:00:00 UTC
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Pre-Market Earnings Report for December 7, 2023 : DG, CIEN, GMS, MEI, DOYU, HOFT, SCWX
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DCOMP
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https://www.nasdaq.com/articles/pre-market-earnings-report-for-december-7-2023-%3A-dg-cien-gms-mei-doyu-hoft-scwx
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The following companies are expected to report earnings prior to market open on 12/07/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Dollar General Corporation (DG)is reporting for the quarter ending October 31, 2023. The discount retail company's consensus earnings per share forecast from the 21 analysts that follow the stock is $1.19. This value represents a 48.93% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for DG is 17.98 vs. an industry ratio of 21.80.
Ciena Corporation (CIEN)is reporting for the quarter ending October 31, 2023. The fiber optics company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.50. This value represents a 2.04% increase compared to the same quarter last year. In the past year CIEN has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CIEN is 23.22 vs. an industry ratio of -17.30, implying that they will have a higher earnings growth than their competitors in the same industry.
GMS Inc. (GMS)is reporting for the quarter ending October 31, 2023. The building company's consensus earnings per share forecast from the 3 analysts that follow the stock is $2.24. This value represents a 19.71% decrease compared to the same quarter last year. GMS missed the consensus earnings per share in the 1st calendar quarter of 2023 by -0.54%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for GMS is 8.90 vs. an industry ratio of 16.00.
Methode Electronics, Inc. (MEI)is reporting for the quarter ending October 31, 2023. The electrical connectors company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.09. This value represents a 88.00% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for MEI is 28.67 vs. an industry ratio of 29.80.
DouYu International Holdings Limited (DOYU)is reporting for the quarter ending September 30, 2023. The gaming company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.01. This value represents a no change for the same quarter last year. In the past year DOYU and beat the expectations the other three quarters. The "days to cover" for this stock exceeds 12 days. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DOYU is 71.10 vs. an industry ratio of -2.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Hooker Furnishings Corporation (HOFT)is reporting for the quarter ending October 31, 2023. The furniture company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.25. This value represents a 40.48% decrease compared to the same quarter last year. In the past year HOFT The "days to cover" for this stock exceeds 12 days. Zacks Investment Research reports that the 2024 Price to Earnings ratio for HOFT is 25.07 vs. an industry ratio of -25.50, implying that they will have a higher earnings growth than their competitors in the same industry.
SecureWorks Corp. (SCWX)is reporting for the quarter ending October 31, 2023. The information technology services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.18. This value represents a 28.00% increase compared to the same quarter last year. SCWX missed the consensus earnings per share in the 2nd calendar quarter of 2023 by -27.27%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for SCWX is -7.81 vs. an industry ratio of 15.10.
The views and 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 discount retail company's consensus earnings per share forecast from the 21 analysts that follow the stock is $1.19. The fiber optics company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.50. The information technology services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.18.
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Zacks Investment Research reports that the 2023 Price to Earnings ratio for CIEN is 23.22 vs. an industry ratio of -17.30, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DOYU is 71.10 vs. an industry ratio of -2.30, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2024 Price to Earnings ratio for HOFT is 25.07 vs. an industry ratio of -25.50, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2023 Price to Earnings ratio for CIEN is 23.22 vs. an industry ratio of -17.30, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2023 Price to Earnings ratio for DOYU is 71.10 vs. an industry ratio of -2.30, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2024 Price to Earnings ratio for HOFT is 25.07 vs. an industry ratio of -25.50, implying that they will have a higher earnings growth than their competitors in the same industry.
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GMS missed the consensus earnings per share in the 1st calendar quarter of 2023 by -0.54%. In the past year DOYU and beat the expectations the other three quarters. SCWX missed the consensus earnings per share in the 2nd calendar quarter of 2023 by -27.27%.
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83a029f8-71e2-48f8-920f-c2aac15ae662
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714464.0
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2023-12-06 00:00:00 UTC
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US FTC tries again to stop Microsoft's already-closed deal for Activision
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https://www.nasdaq.com/articles/us-ftc-tries-again-to-stop-microsofts-already-closed-deal-for-activision
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By Diane Bartz
WASHINGTON, Dec 6 (Reuters) - U.S. antitrust enforcers argued on Wednesday that a federal judge got it wrong when she ruled that Microsoft's MSFT.O $69 billion deal to buy "Call of Duty" maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal.
Microsoft closed the deal on Oct. 13 after winning approval from British regulators. The deal was originally proposed in January 2022 as the biggest acquisition in the history of the gaming industry.
Speaking for the Federal Trade Commission, lawyer Imad Abyad argued that the lower-court judge held the agency to too high a standard, effectively requiring it to prove that the deal was anticompetitive.
He told a three-judge appeals court panel in California that the FTC had only to show that Microsoft had the ability and incentive to withhold Activision's games from rival game platforms to prove the agency's case.
He said the FTC "showed that in the past that's what Microsoft did," referring to allegations that Microsoft made some Zenimax games exclusive after buying that company.
The FTC is fighting an uphill battle, given that it lost the lower-court fight and that the EU and Britain have signed off on the deal.
The legal battle is part of a broader push by the Biden administration to fight mergers and price hikes that affect consumers in areas ranging from medicines to airline tickets.
Speaking for Microsoft, lawyer Rakesh Kilaru called the FTC case "weak" and said that the agency had asked the lower-court judge for too much leeway. "It is also clear that the standard can't be as low as the FTC is suggesting," he said. "It can't be kind of a mere scintilla of evidence."
He argued that the agency failed to show that Microsoft had an incentive to withhold "Call of Duty" from rival gaming platforms.
The judges actively questioned both attorneys, with Judge Daniel Collins pressing the FTC's attorney on how concessions that Microsoft gave British antitrust enforcers affect the U.S. market.
He also appeared to take issue with Abyad's assertions that more analysis of the deal was necessary, especially since Microsoft had struck agreements with rivals recently, including one with Sony 6758.T this past summer.
"This was not a rush job on the part of the FTC," he said.
Two antitrust scholars who listened to the arguments said the FTC faced a tough slog to prevail.
A finding of "clear error" by a lower court judge is "really stark,” said Alden Abbott, a former FTC general counsel, comparing it to the idea that a court ignored key evidence from a witness. Abbott said the appeals court noted that the trial judge had considered "a huge amount of record evidence."
The FTC filed a lawsuit aimed at stopping the deal in December 2022, arguing that Microsoft would use Activision's popular games to suppress competition to its Xbox consoles and dominate fast-growing subscription and cloud gaming businesses. But a federal judge in California ruled in July that it failed to make its case.
BREAKINGVIEWS-Trustbusters throw more bad money at Microsoft
TIMELINE-Microsoft's $69 billion acquisition of Activision Blizzard
Britain proposes antitrust overhaul after Microsoft-Activision case
Column: Microsoft-Activision is a done deal – but what if the FTC still wins? Ask Whole Foods.
Microsoft closes $69 billion Activision deal after Britain's nod
TIMELINE-Microsoft-Activision: Ubisoft deal opens doors to Britain's nod
(Reporting by Diane Bartz and Mike Scarcella in Washington Editing by Matthew Lewis)
((Diane.Bartz@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Speaking for the Federal Trade Commission, lawyer Imad Abyad argued that the lower-court judge held the agency to too high a standard, effectively requiring it to prove that the deal was anticompetitive. The legal battle is part of a broader push by the Biden administration to fight mergers and price hikes that affect consumers in areas ranging from medicines to airline tickets. He also appeared to take issue with Abyad's assertions that more analysis of the deal was necessary, especially since Microsoft had struck agreements with rivals recently, including one with Sony 6758.T this past summer.
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He told a three-judge appeals court panel in California that the FTC had only to show that Microsoft had the ability and incentive to withhold Activision's games from rival game platforms to prove the agency's case. BREAKINGVIEWS-Trustbusters throw more bad money at Microsoft TIMELINE-Microsoft's $69 billion acquisition of Activision Blizzard Britain proposes antitrust overhaul after Microsoft-Activision case Column: Microsoft-Activision is a done deal – but what if the FTC still wins? Microsoft closes $69 billion Activision deal after Britain's nod TIMELINE-Microsoft-Activision: Ubisoft deal opens doors to Britain's nod (Reporting by Diane Bartz and Mike Scarcella in Washington Editing by Matthew Lewis) ((Diane.Bartz@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Diane Bartz WASHINGTON, Dec 6 (Reuters) - U.S. antitrust enforcers argued on Wednesday that a federal judge got it wrong when she ruled that Microsoft's MSFT.O $69 billion deal to buy "Call of Duty" maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal. He told a three-judge appeals court panel in California that the FTC had only to show that Microsoft had the ability and incentive to withhold Activision's games from rival game platforms to prove the agency's case. BREAKINGVIEWS-Trustbusters throw more bad money at Microsoft TIMELINE-Microsoft's $69 billion acquisition of Activision Blizzard Britain proposes antitrust overhaul after Microsoft-Activision case Column: Microsoft-Activision is a done deal – but what if the FTC still wins?
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By Diane Bartz WASHINGTON, Dec 6 (Reuters) - U.S. antitrust enforcers argued on Wednesday that a federal judge got it wrong when she ruled that Microsoft's MSFT.O $69 billion deal to buy "Call of Duty" maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal. He told a three-judge appeals court panel in California that the FTC had only to show that Microsoft had the ability and incentive to withhold Activision's games from rival game platforms to prove the agency's case. He argued that the agency failed to show that Microsoft had an incentive to withhold "Call of Duty" from rival gaming platforms.
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ed771ca6-4d5f-4803-8e02-6ccbedde0e59
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714465.0
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2023-12-06 00:00:00 UTC
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Governments spying on Apple, Google users through push notifications -US senator
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https://www.nasdaq.com/articles/governments-spying-on-apple-google-users-through-push-notifications-us-senator
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By Raphael Satter
WASHINGTON, Dec 6 (Reuters) - Unidentified governments are surveilling smartphone users via their apps' push notifications, a U.S. senator warned on Wednesday.
In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from Alphabet's GOOGL.O Google and Apple AAPL.O. Although details were sparse, the letter lays out yet another path by which governments can track smartphones.
Apps of all kinds rely on push notifications to alert smartphone users to incoming messages, breaking news, and other updates. These are the audible "dings" or visual indicators users get when they receive an email or their sports team wins a game. What users often do not realize is that almost all such notifications travel over Google and Apple's servers.
That gives the two companies unique insight into the traffic flowing from those apps to their users, and in turn puts them "in a unique position to facilitate government surveillance of how users are using particular apps," Wyden said. He asked the Department of Justice to "repeal or modify any policies" that hindered public discussions of push notification spying.
In a statement, Apple said that Wyden's letter gave them the opening they needed to share more details with the public about how governments monitored push notifications.
"In this case, the federal government prohibited us from sharing any information," the company said in a statement. "Now that this method has become public we are updating our transparency reporting to detail these kinds of requests."
Google said that it shared Wyden's "commitment to keeping users informed about these requests."
The Department of Justice did not return messages seeking comment on the push notification surveillance or whether it had prevented Apple of Google from talking about it.
Wyden's letter cited a "tip" as the source of the information about the surveillance. His staff did not elaborate on the tip, but a source familiar with the matter confirmed that both foreign and U.S. government agencies have been asking Apple and Google for metadata related to push notifications to, for example, help tie anonymous users of messaging apps to specific Apple or Google accounts.
The source declined to identify the foreign governments involved in making the requests but described them as democracies allied to the United States.
The source said they did not know how long such information had been gathered in that way.
Most users give push notifications little thought, but they have occasionally attracted attention from technologists because of the difficulty of deploying them without sending data to Google or Apple.
Earlier this year French developer David Libeau said users and developers were often unaware of how their apps emitted data to the U.S. tech giants via push notifications, calling them "a privacy nightmare."
(Reporting by Raphael Satter; Editing by Stephen Coates and Andrea Ricci)
((Raphael.Satter@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Raphael Satter WASHINGTON, Dec 6 (Reuters) - Unidentified governments are surveilling smartphone users via their apps' push notifications, a U.S. senator warned on Wednesday. In a statement, Apple said that Wyden's letter gave them the opening they needed to share more details with the public about how governments monitored push notifications. Most users give push notifications little thought, but they have occasionally attracted attention from technologists because of the difficulty of deploying them without sending data to Google or Apple.
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By Raphael Satter WASHINGTON, Dec 6 (Reuters) - Unidentified governments are surveilling smartphone users via their apps' push notifications, a U.S. senator warned on Wednesday. In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from Alphabet's GOOGL.O Google and Apple AAPL.O. Apps of all kinds rely on push notifications to alert smartphone users to incoming messages, breaking news, and other updates.
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By Raphael Satter WASHINGTON, Dec 6 (Reuters) - Unidentified governments are surveilling smartphone users via their apps' push notifications, a U.S. senator warned on Wednesday. That gives the two companies unique insight into the traffic flowing from those apps to their users, and in turn puts them "in a unique position to facilitate government surveillance of how users are using particular apps," Wyden said. His staff did not elaborate on the tip, but a source familiar with the matter confirmed that both foreign and U.S. government agencies have been asking Apple and Google for metadata related to push notifications to, for example, help tie anonymous users of messaging apps to specific Apple or Google accounts.
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In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from Alphabet's GOOGL.O Google and Apple AAPL.O. In a statement, Apple said that Wyden's letter gave them the opening they needed to share more details with the public about how governments monitored push notifications. Google said that it shared Wyden's "commitment to keeping users informed about these requests."
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f153affe-bcf3-4959-aa29-06604362fffc
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714466.0
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2023-12-06 00:00:00 UTC
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Why AeroVironment Stock Got Shot Down Today
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https://www.nasdaq.com/articles/why-aerovironment-stock-got-shot-down-today
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nan
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AeroVironment (NASDAQ: AVAV) stock, the maker of unmanned aerial vehicles for the U.S. military, delivered an impressive "beat and raise" quarter last night, reporting both better earnings than expected and promising more of the same.
Heading into AV's fiscal Q2 2024, analysts had forecast the company would earn only $0.62 per share on sales of $171 million. Instead, AV delivered $0.97 per share in profit, and reported sales of $181 million.
And then its stock crashed 10.8% (through 11:30 a.m. ET).
Wait. What?
Yes, you read that right. This tiny defense contractor AeroVironment beat Wall Street's earnings predictions with a stick, and then went on to raise earnings guidance through the end of this year as well. (The low point of AV's new guidance range of $2.46 to $2.70 per share is actually above the midpoint of Wall Street's forecast, $2.45 per share). But investors are selling the stock anyway.
The question is, why?
Q2 sales surged 62% year over year. Profits grew 366% year over year. And CEO Wahid Nawabi says AV is seeing "increasing demand" for its products, driving guidance for $685 million to $705 million in revenue this year (a 29% jump), with positive profits greatly improved over last year's $7-plus-per share net loss.
Maybe I'm going blind, but I don't see a lot of bad news in any of that.
Except for one thing
It's only after reading through AeroVironment's entire press release, that I think investors finally find the answer to the question: Might these numbers not be quite as good as they appear?
Way down in the press release, after all the prose and deep within the company's cash flow statement, we learn that all of AV's fabulous revenue growth and its impressive return to "profits" ended up generating $35.7 million in negative free cash flow through the end of the company's fiscal first half -- actually a worse result than the $24.1 million in positive free cash flow it had generated through fiscal H1 2023.
And I'm afraid what this means is that, despite the revenue growth and reported profits, AeroVironment stock is still currently on course to report its third straight year of negative free cash flow. And suffice it to say that a company that can't generate enough cash to fund its operations internally is probably a company that doesn't deserve a $3.5 billion market capitalization -- and a stock that doesn't deserve to be selling for more than $127 a share.
Long story short, despite "beating earnings," "raising guidance," and generally doing all the things right that investors would like to see their stocks do on earnings day, AV stock still costs more than it should. And investors who are selling AV stock today are making the right call.
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*Stock Advisor returns as of December 4, 2023
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AeroVironment. 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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AeroVironment (NASDAQ: AVAV) stock, the maker of unmanned aerial vehicles for the U.S. military, delivered an impressive "beat and raise" quarter last night, reporting both better earnings than expected and promising more of the same. Heading into AV's fiscal Q2 2024, analysts had forecast the company would earn only $0.62 per share on sales of $171 million. Except for one thing It's only after reading through AeroVironment's entire press release, that I think investors finally find the answer to the question: Might these numbers not be quite as good as they appear?
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Heading into AV's fiscal Q2 2024, analysts had forecast the company would earn only $0.62 per share on sales of $171 million. Way down in the press release, after all the prose and deep within the company's cash flow statement, we learn that all of AV's fabulous revenue growth and its impressive return to "profits" ended up generating $35.7 million in negative free cash flow through the end of the company's fiscal first half -- actually a worse result than the $24.1 million in positive free cash flow it had generated through fiscal H1 2023. And I'm afraid what this means is that, despite the revenue growth and reported profits, AeroVironment stock is still currently on course to report its third straight year of negative free cash flow.
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Way down in the press release, after all the prose and deep within the company's cash flow statement, we learn that all of AV's fabulous revenue growth and its impressive return to "profits" ended up generating $35.7 million in negative free cash flow through the end of the company's fiscal first half -- actually a worse result than the $24.1 million in positive free cash flow it had generated through fiscal H1 2023. Long story short, despite "beating earnings," "raising guidance," and generally doing all the things right that investors would like to see their stocks do on earnings day, AV stock still costs more than it should. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Rich Smith has no position in any of the stocks mentioned.
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Heading into AV's fiscal Q2 2024, analysts had forecast the company would earn only $0.62 per share on sales of $171 million. But investors are selling the stock anyway. Except for one thing It's only after reading through AeroVironment's entire press release, that I think investors finally find the answer to the question: Might these numbers not be quite as good as they appear?
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89ccf8fa-86be-40a3-bc09-0a481451a8b6
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714467.0
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2023-12-06 00:00:00 UTC
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Marsh & McLennan (MMC) Unit Buys Vanguard's US OCIO Business
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DCOMP
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https://www.nasdaq.com/articles/marsh-mclennan-mmc-unit-buys-vanguards-us-ocio-business
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Marsh & McLennan Companies, Inc.’s MMC business, Mercer, recently agreed to buy the outsourced chief investment officer (OCIO) business of Vanguard, a leading investment management firm. The move is expected to boost Mercer’s position in the OCIO space.
Acquiring Vanguard's business, which offers investment management services for U.S. not-for-profit organizations and institutional investors, is expected to enhance Mercer's strengths in OCIO and the management of alternative asset classes. With its global expertise, Mercer is well-poised to add value for clients with emerging investment opportunities.
The Marsh & McLennan unit operates in 130 countries with around 25,000 employees. Per the deal, around 120 members of Vanguard’s OCIO team will join Mercer as full-time workers. The transaction is slated to close in the first quarter of next year. The acquisition of the OCIO business, where clients delegate their investment portfolio management responsibility, is expected to expand Mercer’s investment capabilities.
The financial details of the deal are yet to be disclosed. The OCIO business, named Vanguard Institutional Advisory Services, has $60 billion in assets under advisement per Pensions & Investments. The acquisition is anticipated to encompass a client base exceeding 1,000, most of which are not-for-profit organizations and pension accounts.
The acquisition underscores Marsh & McLennan's strategic inorganic growth approach, exemplified by various purchases across its operating units. These acquisitions have facilitated entry into new regions, expansion in existing ones, diversification into new businesses and the development of new segments. The prudent acquisitions position the company for sustained long-term growth.
Price Performance
Shares of Marsh & McLennan have jumped 14.2% in the past year compared with the industry’s 12.7% rise.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Marsh & McLennan currently has a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader Finance space are Assurant, Inc. AIZ, Brown & Brown, Inc. BRO and Arthur J. Gallagher & Co. AJG. While Assurant sports a Zacks Rank #1 (Strong Buy) now, Brown & Brown and Arthur J. Gallagher carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Assurant’s current-year earnings indicates a 30.8% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 42.4%. Also, the consensus mark for AIZ’s 2023 revenues suggests 5.4% year-over-year growth.
The Zacks Consensus Estimate for Brown & Brown’s current-year earnings is pegged at $2.76 per share, which indicates 21.1% year-over-year growth. It has witnessed one upward estimate revision against none in the opposite direction during the past month. BRO beat earnings estimates in each of the past four quarters, with an average surprise of 12.3%.
The consensus mark for Arthur J. Gallagher’s current-year earnings indicates a 13.6% year-over-year increase. It beat earnings estimates in all the past four quarters, with an average surprise of 2.2%. Furthermore, the consensus estimate for AJG’s 2023 revenues suggests 18.3% year-over-year growth.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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Assurant, Inc. (AIZ) : Free Stock Analysis Report
Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report
Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report
Brown & Brown, Inc. (BRO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The OCIO business, named Vanguard Institutional Advisory Services, has $60 billion in assets under advisement per Pensions & Investments. 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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Marsh & McLennan Companies, Inc.’s MMC business, Mercer, recently agreed to buy the outsourced chief investment officer (OCIO) business of Vanguard, a leading investment management firm. Some other top-ranked stocks in the broader Finance space are Assurant, Inc. AIZ, Brown & Brown, Inc. BRO and Arthur J. Gallagher & Co. AJG. Click to get this free report Assurant, Inc. (AIZ) : Free Stock Analysis Report Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report Brown & Brown, Inc. (BRO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Marsh & McLennan Companies, Inc.’s MMC business, Mercer, recently agreed to buy the outsourced chief investment officer (OCIO) business of Vanguard, a leading investment management firm. Image Source: Zacks Investment Research Zacks Rank & Other Key Picks Marsh & McLennan currently has a Zacks Rank #2 (Buy). Click to get this free report Assurant, Inc. (AIZ) : Free Stock Analysis Report Marsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report Brown & Brown, Inc. (BRO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Zacks Rank & Other Key Picks Marsh & McLennan currently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for Brown & Brown’s current-year earnings is pegged at $2.76 per share, which indicates 21.1% year-over-year growth. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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33bf69a6-0e2b-4917-b63d-1ded78e8e819
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714468.0
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2023-12-06 00:00:00 UTC
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Wednesday 12/6 Insider Buying Report: SRBK, ATRI
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https://www.nasdaq.com/articles/wednesday-12-6-insider-buying-report%3A-srbk-atri
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As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At SR Bancorp, a filing with the SEC revealed that on Friday, Executive Chair David M. Orbach bought 30,000 shares of SRBK, at a cost of $9.60 each, for a total investment of $288,063. So far Orbach is in the green, up about 2.1% on their purchase based on today's trading high of $9.80. SR Bancorp is trading trading flat on the day Wednesday. Before this latest buy, Orbach purchased SRBK at 2 other times during the past year, for a total cost of $677,828 at an average of $9.35 per share.
And also on Friday, Director Preston G. Athey bought $95,904 worth of Atrion, buying 300 shares at a cost of $319.68 each. Before this latest buy, Athey made one other buy in the past year, purchasing $104,670 shares at a cost of $523.35 a piece. Atrion is trading up about 1.7% on the day Wednesday. Bargain hunters are able to snag ATRI at a price even lower than Athey did, with the stock changing hands as low as $312.33 at last check today -- that's 2.3% under Athey's purchase price.
VIDEO: Wednesday 12/6 Insider Buying Report: SRBK, ATRI
The views and 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 SR Bancorp, a filing with the SEC revealed that on Friday, Executive Chair David M. Orbach bought 30,000 shares of SRBK, at a cost of $9.60 each, for a total investment of $288,063. Before this latest buy, Orbach purchased SRBK at 2 other times during the past year, for a total cost of $677,828 at an average of $9.35 per share. And also on Friday, Director Preston G. Athey bought $95,904 worth of Atrion, buying 300 shares at a cost of $319.68 each.
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Before this latest buy, Orbach purchased SRBK at 2 other times during the past year, for a total cost of $677,828 at an average of $9.35 per share. Before this latest buy, Athey made one other buy in the past year, purchasing $104,670 shares at a cost of $523.35 a piece. VIDEO: Wednesday 12/6 Insider Buying Report: SRBK, ATRI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before this latest buy, Orbach purchased SRBK at 2 other times during the past year, for a total cost of $677,828 at an average of $9.35 per share. Before this latest buy, Athey made one other buy in the past year, purchasing $104,670 shares at a cost of $523.35 a piece. VIDEO: Wednesday 12/6 Insider Buying Report: SRBK, ATRI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. Before this latest buy, Athey made one other buy in the past year, purchasing $104,670 shares at a cost of $523.35 a piece.
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714469.0
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2023-12-06 00:00:00 UTC
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Nio Stock Just Popped. Is It Time to Buy?
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https://www.nasdaq.com/articles/nio-stock-just-popped.-is-it-time-to-buy
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Nio (NYSE: NIO) shares popped today after the Chinese electric vehicle (EV) maker updated investors on two fronts. Yesterday the company released its third-quarter earnings report, which was well received. But it gave the market even more reason to cheer today.
Nio's American depositary shares are up about 10% this week, including a jump of 5.7% today as of 1:25 p.m. ET.
Investors celebrate a spinoff
The rally in Nio shares began after the company reported its third-quarter results yesterday. While revenue of about $2.7 billion was slightly lower than expected, the company reported a much smaller loss than analysts thought it would. It also meaningfully improved that bottom line compared to the second quarter.
The company cited "ongoing vehicle cost reduction" as well as growing sales and higher selling prices for the positive results. But it was news that came out today that has investors feeling even more bullish on the stock. This morning Reuters reported that Nio plans to spin off its fledgling EV battery production unit.
Focus on turning a profit
Nio currently buys its batteries from Chinese battery maker Contemporary Amperex Technology Company (CATL). A spinoff of its own battery building company should help Nio significantly reduce costs and take a step closer to profitability. At least that's what investors are thinking today.
The report, citing people with knowledge of the matter, said the spin-off could occur as soon as this month. Though no valuation has been reported, it's the potential for the parent company's cost savings that has investors most excited today.
Nio also offers its EV buyers a subscription service for swapping out batteries at its more than 2,200 swap stations as an alternative to recharging drained batteries. The company is reportedly not including those swap stations in the spinoff.
The swap stations bring Nio a competitive advantage, and investors likely still see value in that technology, too. But a move to reduce costs and grow its battery making technology is what caught the attention of investors today. Those who believe in the EV market in general, particularly in China, could use this news as a reason to pick up shares after Nio stock has dropped by about 20% this year.
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Nio 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 December 4, 2023
Howard Smith has positions in Nio. The Motley Fool has positions in and recommends Nio. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors celebrate a spinoff The rally in Nio shares began after the company reported its third-quarter results yesterday. The company cited "ongoing vehicle cost reduction" as well as growing sales and higher selling prices for the positive results. Those who believe in the EV market in general, particularly in China, could use this news as a reason to pick up shares after Nio stock has dropped by about 20% this year.
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Nio (NYSE: NIO) shares popped today after the Chinese electric vehicle (EV) maker updated investors on two fronts. Investors celebrate a spinoff The rally in Nio shares began after the company reported its third-quarter results yesterday. Focus on turning a profit Nio currently buys its batteries from Chinese battery maker Contemporary Amperex Technology Company (CATL).
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Nio (NYSE: NIO) shares popped today after the Chinese electric vehicle (EV) maker updated investors on two fronts. Investors celebrate a spinoff The rally in Nio shares began after the company reported its third-quarter results yesterday. Focus on turning a profit Nio currently buys its batteries from Chinese battery maker Contemporary Amperex Technology Company (CATL).
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The company is reportedly not including those swap stations in the spinoff. But a move to reduce costs and grow its battery making technology is what caught the attention of investors today. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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2023-12-06 00:00:00 UTC
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The 3 Best Stocks to Buy in December
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https://www.nasdaq.com/articles/the-3-best-stocks-to-buy-in-december
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There are a lot of catalysts forming in the market right now. Crypto is in the midst of a rampaging bull run, the price of gold is flirting with an all-time high, Treasury yields are falling and expectations are growing that the U.S. Federal Reserve could begin cutting interest rates as soon as March of next year.
These developments are helping to push the share prices of some stocks sharply higher to start the month of December.
Investors who choose wisely are sure to be rewarded if these catalysts continue to play out and we end the year with a Santa Claus rally. Of course, nothing is for certain but there are reasons for optimism as 2023 draws to a close. Here are the three best stocks to buy in December.
MicroStrategy (MSTR)
Source: DCStockPhotography / Shutterstock.com
Cryptocurrencies are red hot again, and that’s proving to be very good for business intelligence company MicroStrategy (NASDAQ:MSTR), which has one of the largest holdings of Bitcoin (BTC-USD) in the world. Company co-founder and current executive chairman Michael Saylor directed MicroStrategy to start purchasing Bitcoin in August 2020. Today, the company owns 174,530 Bitcoin that it bought for $5.28 billion for an average price per BTC of $30,252.
Saylor was widely criticized for continuing to buy Bitcoin as the price fell to $16,000 during the 2022 bear market. But now, with Bitcoin’s price at $42,000 and MicroStrategy sitting on a $2 billion profit in its Bitcoin holding, Saylor looks like a genius. With many analysts forecasting that we’ll see Bitcoin’s price reach $100,000 within the next year, MicroStrategy looks positioned to continue benefitting from its crypto bet. MSTR stock is up 293% this year and has gained 346% over five years.
Uber Technologies (UBER)
Source: Proxima Studio / Shutterstock.com
Uber Technologies (NYSE:UBER) is riding high right now. The ride hailing and deliver company’s stock got a nice bounce after its third-quarter results showed sustained growth at the company, with its gross bookings up 21% year-over-year.
Now word comes that Uber is being added to the S&P 500 index before the start of trading on Dec. 18. The company qualified for inclusion in the S&P 500 index after its Q3 results showed profitability over the previous four quarters.
With a $116 billion market capitalization, Uber had been the largest American company that wasn’t part of the benchmark S&P 500 index. Its inclusion is a bullish sign and potential catalyst for UBER stock. Stocks that are added to a major index often rise as they get purchased by mutual funds and exchange-traded funds that track the performance of benchmarks like the S&P 500. UBER stock was already on an upswing, having gained 22% in the last month, bringing its year-to-date increase to 130%.
Signet Jewelers (SIG)
Source: Shutterstock
Signet Jewelers (NYSE:SIG) is an unheralded and undervalued stock. You might say it’s a diamond in the rough (pun intended). While the company gets little attention in the financial press, SIG stock continues to quietly outperform the market. This year, Signet’s share price is up 34%, it has risen 54% over the last 12 months, and it has increased 130% through five years. The stock pays a nice quarterly dividend of 23 cents a share, giving it a yield of 1.03%, and it trades at just 13 times future earnings estimates.
On the day of this writing, SIG stock was up 6% after the company reported the latest in a string of positive financial results. The company announced earnings per share (EPS) of 24 cents, which beat Wall Street forecasts of 15 cents. Revenue matched analyst estimates at $1.40 billion. However, Signet said that its inventory levels declined by 14% year-over-year to $2.1 billion, which really caught the attention of analysts and investors. With the holidays here and the price of gold near its all-time high, now is a great time to own a jewelry stock.
On the date of publication, Joel Baglole 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.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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The post The 3 Best 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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Crypto is in the midst of a rampaging bull run, the price of gold is flirting with an all-time high, Treasury yields are falling and expectations are growing that the U.S. Federal Reserve could begin cutting interest rates as soon as March of next year. The stock pays a nice quarterly dividend of 23 cents a share, giving it a yield of 1.03%, and it trades at just 13 times future earnings estimates. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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Uber Technologies (UBER) Source: Proxima Studio / Shutterstock.com Uber Technologies (NYSE:UBER) is riding high right now. Signet Jewelers (SIG) Source: Shutterstock Signet Jewelers (NYSE:SIG) is an unheralded and undervalued stock. The company announced earnings per share (EPS) of 24 cents, which beat Wall Street forecasts of 15 cents.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips There are a lot of catalysts forming in the market right now. MSTR stock is up 293% this year and has gained 346% over five years. The ride hailing and deliver company’s stock got a nice bounce after its third-quarter results showed sustained growth at the company, with its gross bookings up 21% year-over-year.
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But now, with Bitcoin’s price at $42,000 and MicroStrategy sitting on a $2 billion profit in its Bitcoin holding, Saylor looks like a genius. MSTR stock is up 293% this year and has gained 346% over five years. On the day of this writing, SIG stock was up 6% after the company reported the latest in a string of positive financial results.
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714471.0
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2023-12-06 00:00:00 UTC
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After-Hours Earnings Report for December 6, 2023 : VEEV, GME, AI, CXM, CHWY, GEF, VRNT, OXM, NAPA, SMTC, BASE, CHPT
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https://www.nasdaq.com/articles/after-hours-earnings-report-for-december-6-2023-%3A-veev-gme-ai-cxm-chwy-gef-vrnt-oxm-napa
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The following companies are expected to report earnings after hours on 12/06/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Veeva Systems Inc. (VEEV)is reporting for the quarter ending October 31, 2023. The internet software company's consensus earnings per share forecast from the 12 analysts that follow the stock is $0.77. This value represents a 11.59% increase compared to the same quarter last year. In the past year VEEV has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 7.69%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for VEEV is 65.19 vs. an industry ratio of 19.10, implying that they will have a higher earnings growth than their competitors in the same industry.
GameStop Corporation (GME)is reporting for the quarter ending October 31, 2023. The retail company's consensus earnings per share forecast from the 3 analysts that follow the stock is $-0.12. This value represents a 61.29% increase compared to the same quarter last year. GME missed the consensus earnings per share in the 4th calendar quarter of 2022 by -6.9%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for GME is -124.25 vs. an industry ratio of -37.60.
C3.ai, Inc. (AI)is reporting for the quarter ending October 31, 2023. The information technology services company's consensus earnings per share forecast from the 8 analysts that follow the stock is $-0.65. This value represents a 3.17% decrease compared to the same quarter last year. AI missed the consensus earnings per share in the 4th calendar quarter of 2022 by -3.28%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for AI is -13.42 vs. an industry ratio of 15.10.
Sprinklr, Inc. (CXM)is reporting for the quarter ending October 31, 2023. The technology services company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.02. This value represents a 200.00% increase compared to the same quarter last year. In the past year CXM and beat the expectations the other three quarters. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CXM is 185.89 vs. an industry ratio of -4.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Chewy, Inc. (CHWY)is reporting for the quarter ending October 31, 2023. The consumer company's consensus earnings per share forecast from the 5 analysts that follow the stock is $-0.06. This value represents a 700.00% decrease compared to the same quarter last year. In the past year CHWY has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 33.33%. Zacks Investment Research reports that the Price to Earnings ratio for CHWY is 0.00 vs. an industry ratio of 14.40.
Greif, Inc. (GEF)is reporting for the quarter ending October 31, 2023. The construction company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.30. This value represents a 28.96% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for GEF is 11.92 vs. an industry ratio of 14.30.
Verint Systems Inc. (VRNT)is reporting for the quarter ending October 31, 2023. The computer software company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.31. This value represents a 24.39% decrease compared to the same quarter last year. VRNT missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -38.89%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for VRNT is 14.02 vs. an industry ratio of 28.00.
Oxford Industries, Inc. (OXM)is reporting for the quarter ending October 31, 2023. The textile company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.97. This value represents a 33.56% decrease compared to the same quarter last year. OXM missed the consensus earnings per share in the 3rd calendar quarter of 2023 by -0.29%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for OXM is 8.47 vs. an industry ratio of 17.60.
The Duckhorn Portfolio, Inc. (NAPA)is reporting for the quarter ending October 31, 2023. The alcohol company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.14. This value represents a 17.65% decrease compared to the same quarter last year. In the past year NAPA has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 16.67%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for NAPA is 15.78 vs. an industry ratio of 16.80.
Semtech Corporation (SMTC)is reporting for the quarter ending October 31, 2023. The semiconductor company's consensus earnings per share forecast from the 7 analysts that follow the stock is $-0.32. This value represents a 153.33% decrease compared to the same quarter last year. SMTC missed the consensus earnings per share in the 1st calendar quarter of 2023 by -141.18%. The days to cover, as reported in the 11/15/2023 short interest update, increased 164.03% from previous report on 10/31/2023. Zacks Investment Research reports that the 2024 Price to Earnings ratio for SMTC is -23.49 vs. an industry ratio of 196.40.
Couchbase, Inc. (BASE)is reporting for the quarter ending October 31, 2023. The internet software company's consensus earnings per share forecast from the 3 analysts that follow the stock is $-0.34. This value represents a 8.11% increase compared to the same quarter last year. The last two quarters BASE had negative earnings surprises; the latest report they missed by -15.79%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for BASE is -12.94 vs. an industry ratio of 19.10.
ChargePoint Holdings, Inc. (CHPT)is reporting for the quarter ending October 31, 2023. The auto (truck) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $-0.31. This value represents a 29.17% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CHPT is -1.90 vs. an industry ratio of 8.60.
The views and 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 internet software company's consensus earnings per share forecast from the 12 analysts that follow the stock is $0.77. The information technology services company's consensus earnings per share forecast from the 8 analysts that follow the stock is $-0.65. The computer software company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.31.
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The internet software company's consensus earnings per share forecast from the 12 analysts that follow the stock is $0.77. Zacks Investment Research reports that the 2024 Price to Earnings ratio for VEEV is 65.19 vs. an industry ratio of 19.10, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CXM is 185.89 vs. an industry ratio of -4.80, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2024 Price to Earnings ratio for VEEV is 65.19 vs. an industry ratio of 19.10, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CXM is 185.89 vs. an industry ratio of -4.80, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the Price to Earnings ratio for CHWY is 0.00 vs. an industry ratio of 14.40.
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GME missed the consensus earnings per share in the 4th calendar quarter of 2022 by -6.9%. AI missed the consensus earnings per share in the 4th calendar quarter of 2022 by -3.28%. Oxford Industries, Inc. (OXM)is reporting for the quarter ending October 31, 2023.
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2023-12-06 00:00:00 UTC
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Is This News a Setback or a Step Forward for CRISPR Therapeutics?
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https://www.nasdaq.com/articles/is-this-news-a-setback-or-a-step-forward-for-crispr-therapeutics
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A big week for CRISPR Therapeutics (NASDAQ: CRSP) has gotten even bigger as the biotech company is awaiting a crucial decision. The U.S. Food and Drug Administration (FDA) expects to decide on Friday whether to approve what may become CRISPR Therapeutics' very first product -- exa-cel, a gene-editing treatment for blood disorders.
And now, in unrelated news, CRISPR Therapeutics has cut two of its more advanced immuno-oncology candidates to favor second-generation alternatives -- and expand into autoimmune diseases. One of the cancer candidates, CTX-110, was involved in a phase 2 potentially registrational trial, meaning the study could have supported a regulatory request. So, is this latest move a setback for the biotech company or a step forward?
Image source: Getty Images.
Positive clinical trial results
It's important to note that CRISPR Therapeutics had reported positive trial results from the now eliminated candidates, CTX-110 AND CTX-130. The FDA had granted both candidates regenerative medicine advanced therapy designation, meant for investigational therapies showing potential to treat serious diseases. The designation helps expedite the development of such potential treatments.
CRISPR Therapeutics' immuno-oncology candidates are chimeric antigen receptor T-cell therapies, in which T cells are genetically altered to better fight cancer cells. The company has been developing CTX-110 and CTX-112 to target the CD19 protein in B cell malignancies and developing CTX-130 and CTX-131 to target protein CD70 in T cell malignancies and solid tumors. Now, the company is dropping the more advanced candidates to focus on the next-generation candidates, CTX-112 and CTX-131.
Though the dropped candidates produced solid clinical trial results so far, CRISPR Therapeutics says the newer ones showed they may be able to do even better. Early trial results demonstrated potential for greater efficacy -- two novel gene edits may boost potency and reduce a slowdown in activity known as CAR T exhaustion.
The next-generation candidates also offer an improved manufacturing profile -- producing a higher number of CAR T cells per batch. So, these candidates may lead to better results for patients and to a more efficient manufacturing process for the company.
Of course, this move may result in a longer road to commercialization, since the company initiated phase 1 trials of these candidates earlier this year -- as mentioned above, CTX-110 already had advanced beyond that point.
Slow and steady wins the race
Is this a setback or a step forward for CRISPR Therapeutics? Ideally, investors would love for the company to commercialize a candidate from this program as soon as possible. And those initial candidates could have made this happen more quickly than their second-generation versions. But sometimes slow and steady wins the race. The fact that CRISPR Therapeutics recognized the strengths of the newer candidates now actually is great news, even if it means a lengthier time to market.
That's because it allows the company to present its very best candidates for regulatory consideration -- leading to a better chance of approval and a better chance for use among patients. It's better to wait and deliver a game-changing product than to more quickly deliver one that will get lost in the shuffle. Oncology treatment is a highly competitive market, making it crucial for new entrants to stand out from the crowd.
On top of this news, the company also said it's expanding into autoimmune diseases and will begin testing CTX-112 in that area. It will start by launching a clinical trial in systemic lupus erythematosus in the first half of the year.
All of this means that CRISPR Therapeutics' latest news is more of a step forward than anything else. The company has discovered strengths in two of its four immuno-oncology candidates and is going all in on them rather than diluting its efforts across less promising options. And the biotech is even expanding into a new area.
This increases CRISPR Therapeutics' chances for success over time, and that's why this represents great news not only for the biotech company, but for investors, too.
10 stocks we like better than CRISPR Therapeutics
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Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends CRISPR Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The U.S. Food and Drug Administration (FDA) expects to decide on Friday whether to approve what may become CRISPR Therapeutics' very first product -- exa-cel, a gene-editing treatment for blood disorders. Early trial results demonstrated potential for greater efficacy -- two novel gene edits may boost potency and reduce a slowdown in activity known as CAR T exhaustion. Of course, this move may result in a longer road to commercialization, since the company initiated phase 1 trials of these candidates earlier this year -- as mentioned above, CTX-110 already had advanced beyond that point.
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The company has been developing CTX-110 and CTX-112 to target the CD19 protein in B cell malignancies and developing CTX-130 and CTX-131 to target protein CD70 in T cell malignancies and solid tumors. Though the dropped candidates produced solid clinical trial results so far, CRISPR Therapeutics says the newer ones showed they may be able to do even better. Slow and steady wins the race Is this a setback or a step forward for CRISPR Therapeutics?
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And now, in unrelated news, CRISPR Therapeutics has cut two of its more advanced immuno-oncology candidates to favor second-generation alternatives -- and expand into autoimmune diseases. Positive clinical trial results It's important to note that CRISPR Therapeutics had reported positive trial results from the now eliminated candidates, CTX-110 AND CTX-130. Though the dropped candidates produced solid clinical trial results so far, CRISPR Therapeutics says the newer ones showed they may be able to do even better.
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Positive clinical trial results It's important to note that CRISPR Therapeutics had reported positive trial results from the now eliminated candidates, CTX-110 AND CTX-130. Of course, this move may result in a longer road to commercialization, since the company initiated phase 1 trials of these candidates earlier this year -- as mentioned above, CTX-110 already had advanced beyond that point. This increases CRISPR Therapeutics' chances for success over time, and that's why this represents great news not only for the biotech company, but for investors, too.
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714473.0
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2023-12-06 00:00:00 UTC
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3 Stocks With Growing Payouts to Fulfill Your Dividend Dreams
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https://www.nasdaq.com/articles/3-stocks-with-growing-payouts-to-fulfill-your-dividend-dreams
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Dividend investors love payday, and it comes quite often if you have enough stocks in your portfolio. Some dividend investors set up their portfolios to receive at least one payout every month.
Many companies raise their dividends each year and reward dividend investors who hold onto their shares. However, some corporations raise their dividends higher than others. Growing payouts accompanied by respectable stock price appreciation is a winning formula for many dividend investors.
These dividend dream stocks with growing payouts look promising for long-term investors.
Broadcom (AVGO)
Source: Sasima / Shutterstock.com
A recent surge fueled by artificial intelligence (AI) has left Broadcom (NASDAQ:AVGO) with a lower dividend yield. Broadcom had a 3% dividend yield at the start of 2023 but has since seen its yield drop to 2%.
Broadcom’s dividend yield only dropped significantly because the company’s stock price shot up by 65% year-to-date. AVGO shares have more than tripled over the past five years. The chipmaker will tap into new opportunities through its recently approved acquisition of VMware.
Broadcom does a good job of raising its dividend by 10% or more each year. It’s been doing that for several years. The company has enough profits, available cash and business growth to sustain those types of dividend hikes in the future.
Broadcom trades at a reasonable 28 P/E ratio, which gives new investors a decent margin of safety. The corporation regularly posts profit margins of over 30% and provides essential chips. Semiconductors are in all types of technology and appliances, which will fuel Broadcom’s dominance in the years to come.
Stag Industrial (STAG)
Source: Don Pablo / Shutterstock.com
Stag Industrial (NYSE:STAG) is a real estate investment trust that focuses on storage and warehouse facilities. Many corporations rely on Stag Industrial’s properties to store inventory and commit to long-term leases.
That dynamic has helped the company generate reliable cash flow for investors. While most dividend stocks pay a quarterly dividend, STAG investors receive extra cash each month. That allows you to reinvest the proceeds and grow your cash even faster. You can also consistently use STAG to cover some of your monthly living expenses knowing you will continue to receive payments.
Stag Industrial isn’t the type of stock to beat the market. It’s only up by 12% year-to-date and 35% over the past five years. Those gains do not include the company’s 4.1% dividend yield, leaving much to be desired for growth investors.
Stag Industrial can help investors who want to insulate risk and receive consistent monthly payments. The REIT raises its dividend each year.
Prudential (PRU)
Source: JHVEPhoto / Shutterstock.com
Prudential (NYSE:PRU) is another top choice for dividend investors willing to trade gains for a higher margin of safety. Shares are down by 2% year-to-date and up by 14% over the past five years.
Prudential has been serving clients for almost 150 years and offers a juicy 5% dividend yield. Prudential started 2023 by raising its dividend from $1.20 to $1.25, marking a 4.2% year-over-year increase. It’s not the highest jump among dividend stocks, but investors already get a high yield from the stock. Prudential is due to raise its dividend in February 2024.
The company is in the middle of cost-cutting to further insulate itself from economic uncertainty. Cutting costs can help the company further support its dividend and possibly generate upside, although the dividend is the main focus.
Prudential’s low volatility makes it an enticing choice for dividend investors who also sell covered calls to generate additional income. Investors may want to wait for Prudential to drop a bit before accumulating shares.
On this date of publication, Marc Guberti held a long position in AVGO. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.
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The post 3 Stocks With Growing Payouts to Fulfill Your Dividend Dreams 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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Growing payouts accompanied by respectable stock price appreciation is a winning formula for many dividend investors. Prudential’s low volatility makes it an enticing choice for dividend investors who also sell covered calls to generate additional income. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dividend investors love payday, and it comes quite often if you have enough stocks in your portfolio. Stag Industrial (STAG) Source: Don Pablo / Shutterstock.com Stag Industrial (NYSE:STAG) is a real estate investment trust that focuses on storage and warehouse facilities. Prudential (PRU) Source: JHVEPhoto / Shutterstock.com Prudential (NYSE:PRU) is another top choice for dividend investors willing to trade gains for a higher margin of safety.
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Many companies raise their dividends each year and reward dividend investors who hold onto their shares. While most dividend stocks pay a quarterly dividend, STAG investors receive extra cash each month. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Stocks With Growing Payouts to Fulfill Your Dividend Dreams appeared first on InvestorPlace.
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Some dividend investors set up their portfolios to receive at least one payout every month. While most dividend stocks pay a quarterly dividend, STAG investors receive extra cash each month. Stag Industrial can help investors who want to insulate risk and receive consistent monthly payments.
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ac4e37d6-f9ac-4455-b7cc-96f436b1dc8a
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714474.0
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2023-12-06 00:00:00 UTC
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Should You Retain Highwoods (HIW) Stock in Your Portfolio Now?
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https://www.nasdaq.com/articles/should-you-retain-highwoods-hiw-stock-in-your-portfolio-now-0
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Highwoods Properties’ HIW portfolio of premier office properties concentrated in high-growth Sun Belt markets with favorable demographic trends positions it well for growth over the long term. An aggressive capital-recycling program, accretive development projects and a healthy balance sheet position are other tailwinds. However, competition from other industry peers and high interest rates remain key concerns for the company.
What’s Aiding It?
Highwoods benefits from a significant portion of its portfolio being focused on high-growth Sun Belt markets. These markets exhibit promising long-term favorable demographic trends and are expected to continue experiencing above-average job growth. The company also has a well-diversified tenant base that includes several industry bellwethers. These factors are expected to support the company’s rental income over the long term.
Highwoods is witnessing a recovery in demand for its high-quality and well-placed office properties as highlighted by a rebound in new leasing volume. The company leased 655,060 square feet of second-generation office space in the third quarter, including 152,105 square feet of new leases.
With the next cycle of office-space demand likely to be driven by inbound migration and significant investments announced by office occupiers to expand their footprint in the Sun Belt regions as well as additional hiring plans in the company’s markets, the company is likely to experience healthy demand for its properties, boosting leasing activity. Also, the rise in the number of tenants returning to offices will act as a tailwind.
Highwoods has been following a disciplined capital-recycling strategy that entails disposing of non-core assets and redeploying the proceeds in premium asset acquisitions and accretive development projects. Over the years, it has made concerted efforts to improve its portfolio quality by expanding its footprint in the high-growth best business districts markets through acquisitions and development initiatives.
Notably, during the nine months ended Sep 30, 2023, the company divested its interest in three office buildings, namely One Independence Park, Riverbirch and 5000 North Park for the aggregate sales price of $51.3 million. For 2023, management expects to carry out an additional disposition of $150 million.
Moreover, HIW’s focus on development projects in key markets, which are likely to generate meaningful annual net operating income upon completion and stabilization seems encouraging.
The company maintains a healthy balance sheet position with no consolidated debt maturities until the fourth quarter of 2025. As of Oct 17, 2023, it had around $16 million of available cash and $205 million drawn on its $750 million revolving credit facility. It enjoyed investment-grade ratings of BBB/Baa2 with a stable outlook from S&P and Moody’s as of the end of the third quarter of 2023, rendering it access to the debt market at favorable rates. Hence, with sound financial footing, Highwoods seems well-positioned to capitalize on long-term growth opportunities.
What’s Hurting It?
Highwoods faces intense competition from developers, owners and operators of office properties, as well as other commercial real estate. This is likely to restrict its ability to attract and retain tenants at relatively higher rents than its competitors and hurt leasing activity. It could also impact the company’s ability to acquire high-quality properties at favorable prices.
Higher development activities across the company’s markets will likely result in new supply in the upcoming period. This will likely affect its ability to backfill vacated space and strain occupancy levels of its office properties. Management anticipates occupancy toward the lower end of its guidance range of 88.5-90%. Our estimate is pegged at 88.7%.
A high interest rate is another concern for HIW. Elevated rates imply high borrowing costs for the company, affecting its ability to purchase or develop real estate. For the remainder of 2023, management expects interest expenses to increase due to higher rates in the new fixed-rate mortgage at Midtown West. Our estimate indicates a year-over-year increase of 29.2% in the company’s interest expense this year.
Over the past six months, shares of this Zacks Rank #3 (Hold) company have declined 10.9% against the industry’s rise of 1.7%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are Iron Mountain IRM and Lamar Advertising LAMR, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Iron Mountain’s current-year funds from operation (FFO) per share has moved marginally northward over the past week to $3.98.
The Zacks Consensus Estimate for Lamar Advertising’s current-year FFO per share has been raised 1.7% over the past two months to $7.31.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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
Iron Mountain Incorporated (IRM) : Free Stock Analysis Report
Highwoods Properties, Inc. (HIW) : Free Stock Analysis Report
Lamar Advertising Company (LAMR) : 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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Over the years, it has made concerted efforts to improve its portfolio quality by expanding its footprint in the high-growth best business districts markets through acquisitions and development initiatives. Moreover, HIW’s focus on development projects in key markets, which are likely to generate meaningful annual net operating income upon completion and stabilization seems encouraging. The Zacks Consensus Estimate for Iron Mountain’s current-year funds from operation (FFO) per share has moved marginally northward over the past week to $3.98.
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Highwoods Properties’ HIW portfolio of premier office properties concentrated in high-growth Sun Belt markets with favorable demographic trends positions it well for growth over the long term. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks from the REIT sector are Iron Mountain IRM and Lamar Advertising LAMR, each carrying a Zacks Rank #2 (Buy). Click to get this free report Iron Mountain Incorporated (IRM) : Free Stock Analysis Report Highwoods Properties, Inc. (HIW) : Free Stock Analysis Report Lamar Advertising Company (LAMR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Highwoods Properties’ HIW portfolio of premier office properties concentrated in high-growth Sun Belt markets with favorable demographic trends positions it well for growth over the long term. With the next cycle of office-space demand likely to be driven by inbound migration and significant investments announced by office occupiers to expand their footprint in the Sun Belt regions as well as additional hiring plans in the company’s markets, the company is likely to experience healthy demand for its properties, boosting leasing activity. Click to get this free report Iron Mountain Incorporated (IRM) : Free Stock Analysis Report Highwoods Properties, Inc. (HIW) : Free Stock Analysis Report Lamar Advertising Company (LAMR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Highwoods Properties’ HIW portfolio of premier office properties concentrated in high-growth Sun Belt markets with favorable demographic trends positions it well for growth over the long term. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks from the REIT sector are Iron Mountain IRM and Lamar Advertising LAMR, each carrying a Zacks Rank #2 (Buy). Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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3addb00a-1baf-4b00-a8cc-e5013bd1d151
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714475.0
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2023-12-06 00:00:00 UTC
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Victory Capital (VCTR) Announces New Share Repurchase Plan
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https://www.nasdaq.com/articles/victory-capital-vctr-announces-new-share-repurchase-plan
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In an effort to boost shareholders’ wealth, Victory Capital Holdings, Inc. VCTR announced a share repurchase plan. The company’s board of directors authorized the repurchase of up to $100 million of common stock through Dec 31, 2025.
VCTR has an existing share repurchase program in place. This March, the board of directors of this San Antonio, TX-based company authorized the repurchase of up to $100 million of common stock through Mar 31, 2025. As of Sep 30, 2023, $51.9 million worth of balance remained to be repurchased under the authorization.
David Brown, chairman and CEO of VCTR, commented, "This new repurchase authorization allows us to remain flexible and opportunistic with our capital allocation."
In addition to the share repurchase program, Victory Capital has a history of paying quarterly dividends. This November, VCTR announced a quarterly dividend of 32 cents per share. The dividend will be paid out on Dec 22 to shareholders of record as of Dec 11.
The company announced a dividend hike in February 2023 of 28% to 32 cents per share. It has increased its dividend eight times in the last five years. Based on the last day’s closing price of $33.15, the company’s dividend yield is currently 3.91% and its payout ratio is 29% of earnings.
Last month, Victory Capital posted solid third-quarter 2023 results. It reported quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.15 per share. Analysts seem bullish regarding the company’s 2023 earnings growth potential, with earnings estimates having been revised marginally upward over the past 30 days.
Supported by its cash flow and earnings strength, Victory Capital is expected to continue with efficient capital distribution activities in the future. Through this, it will keep driving investors’ confidence in the stock.
Over the past year, shares of Victory Capital have gained 20.3% compared with an 11.4% rise recorded by the industry.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Companies That Took Similar Action
Over the past couple of months, several companies have rewarded shareholders with new and existing share-repurchase programs. Some of these are Mitsubishi UFJ Financial Group, Inc. MUFG and Provident Financial Holdings, Inc. PROV.
MUFG declared progress on its share buyback activities. It announced that from Nov 15 through Nov 30, 2023, it repurchased 40,214,100 shares of its common stock for ¥51,012,638,435.
The repurchases were carried out through the company’s ¥400-billion share repurchase program announced on Nov 14, 2023. The plan authorized the company to buy back up to 400,000,000 shares, indicating 3.31% of the total shares outstanding (excluding treasury stock).
PROV also announced a share repurchase plan. Under the plan, the company’s board of directors authorized to buy back up to 350,353 shares or nearly 5% of its outstanding shares.
This new repurchase plan replaced the previous program, which was announced in April 2022, where the company was set to buy back approximately 364,259 shares. In April 2023, PROV announced an extension of the program for a year or until completed, whichever is earlier.
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
Provident Financial Holdings, Inc. (PROV) : Free Stock Analysis Report
Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report
Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This March, the board of directors of this San Antonio, TX-based company authorized the repurchase of up to $100 million of common stock through Mar 31, 2025. David Brown, chairman and CEO of VCTR, commented, "This new repurchase authorization allows us to remain flexible and opportunistic with our capital allocation." This new repurchase plan replaced the previous program, which was announced in April 2022, where the company was set to buy back approximately 364,259 shares.
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In an effort to boost shareholders’ wealth, Victory Capital Holdings, Inc. VCTR announced a share repurchase plan. Some of these are Mitsubishi UFJ Financial Group, Inc. MUFG and Provident Financial Holdings, Inc. PROV. Click to get this free report Provident Financial Holdings, Inc. (PROV) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The repurchases were carried out through the company’s ¥400-billion share repurchase program announced on Nov 14, 2023. The plan authorized the company to buy back up to 400,000,000 shares, indicating 3.31% of the total shares outstanding (excluding treasury stock). Click to get this free report Provident Financial Holdings, Inc. (PROV) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In an effort to boost shareholders’ wealth, Victory Capital Holdings, Inc. VCTR announced a share repurchase plan. The repurchases were carried out through the company’s ¥400-billion share repurchase program announced on Nov 14, 2023. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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723e9359-e9cb-4f89-8fed-1c350dd9b19c
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714476.0
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2023-12-06 00:00:00 UTC
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Health Care Sector Update for 12/06/2023: SERA, RYTM, CDIO
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https://www.nasdaq.com/articles/health-care-sector-update-for-12-06-2023%3A-sera-rytm-cdio
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Health care stocks advanced Wednesday afternoon with the NYSE Health Care Index edging up 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.4%.
The iShares Biotechnology ETF (IBB) rose 1.3%.
In corporate news, Sera Prognostics (SERA) shares more than tripled after the company said it's stopping enrollment in a study evaluating the safety of a preterm birth prevention strategy due to the trial's early success.
Cardio Diagnostics (CDIO) jumped 7.3% after Nasdaq notified the company it regained compliance with the minimum bid price requirement for continued listing.
Rhythm Pharmaceuticals (RYTM) said its ongoing phase 3 trial assessing setmelanotide in children aged 2 to 6 years old with Bardet-Biedl syndrome, proopiomelanocortin or leptin receptor deficiency obesity reached the primary endpoint. Its shares rose 4.4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In corporate news, Sera Prognostics (SERA) shares more than tripled after the company said it's stopping enrollment in a study evaluating the safety of a preterm birth prevention strategy due to the trial's early success. Cardio Diagnostics (CDIO) jumped 7.3% after Nasdaq notified the company it regained compliance with the minimum bid price requirement for continued listing. Rhythm Pharmaceuticals (RYTM) said its ongoing phase 3 trial assessing setmelanotide in children aged 2 to 6 years old with Bardet-Biedl syndrome, proopiomelanocortin or leptin receptor deficiency obesity reached the primary endpoint.
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Health care stocks advanced Wednesday afternoon with the NYSE Health Care Index edging up 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.4%. In corporate news, Sera Prognostics (SERA) shares more than tripled after the company said it's stopping enrollment in a study evaluating the safety of a preterm birth prevention strategy due to the trial's early success. Its shares rose 4.4%.
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Health care stocks advanced Wednesday afternoon with the NYSE Health Care Index edging up 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.4%. In corporate news, Sera Prognostics (SERA) shares more than tripled after the company said it's stopping enrollment in a study evaluating the safety of a preterm birth prevention strategy due to the trial's early success. Rhythm Pharmaceuticals (RYTM) said its ongoing phase 3 trial assessing setmelanotide in children aged 2 to 6 years old with Bardet-Biedl syndrome, proopiomelanocortin or leptin receptor deficiency obesity reached the primary endpoint.
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Health care stocks advanced Wednesday afternoon with the NYSE Health Care Index edging up 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.4%. Cardio Diagnostics (CDIO) jumped 7.3% after Nasdaq notified the company it regained compliance with the minimum bid price requirement for continued listing. Its shares rose 4.4%.
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2023-12-06 00:00:00 UTC
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New Mexico sues Meta, CEO Zuckerberg over child protection failures
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https://www.nasdaq.com/articles/new-mexico-sues-meta-ceo-zuckerberg-over-child-protection-failures
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By David Shepardson
WASHINGTON, Dec 6 (Reuters) - New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitation, and human trafficking.
"Our investigation into Meta’s social media platforms demonstrates that they are not safe spaces for children but rather prime locations for predators to trade child pornography and solicit minors for sex,” Torrez said in a statement.
He said Meta had enabled "dozens of adults to find, contact, and press children into providing sexually explicit pictures of themselves or participate in pornographic videos."
Meta in response said it uses sophisticated technology, hires child safety experts, reports content to the National Center for Missing and Exploited Children, and shares "information and tools with other companies and law enforcement, including state attorneys general, to help root out predators."
In August alone, Meta said it disabled more than 500,000 accounts for violating child sexual exploitation policies.
Torrez said Zuckerberg and other Meta executives "are aware of the serious harm their products can pose to young users, and yet they have failed to make sufficient changes to their platforms that would prevent the sexual exploitation of children."
Montana Attorney General Austin Knudsen on Tuesday announced the state was suing Meta, saying Instagram was "intentionally designed to be addictive, particularly to minors."
In October, more than 40 U.S. states sued Meta, accusing it of fueling a youth mental health crisis by making their social media platforms addictive.
The attorneys general of 33 states including California and New York said Meta repeatedly misled the public about the dangers of its platforms, and knowingly induced young children and teenagers into addictive and compulsive social media use. Eight other U.S. states and Washington, D.C. filed similar lawsuits.
The cases are the latest in a string of legal actions against social media companies on behalf of children and teens.
Meta, ByteDance's TikTok and Alphabet's GOOGL.O YouTube already face hundreds of lawsuits filed on behalf of children and school districts about the addictiveness of social media.
On Tuesday, U.S. Senators Ed Markey and Bill Cassidy said Meta was intentionally evading a children privacy law and called on the company to halt the practice.
(Reporting by David Shepardson Editing by Bill Berkrot)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Dec 6 (Reuters) - New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitation, and human trafficking. Meta in response said it uses sophisticated technology, hires child safety experts, reports content to the National Center for Missing and Exploited Children, and shares "information and tools with other companies and law enforcement, including state attorneys general, to help root out predators." The attorneys general of 33 states including California and New York said Meta repeatedly misled the public about the dangers of its platforms, and knowingly induced young children and teenagers into addictive and compulsive social media use.
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By David Shepardson WASHINGTON, Dec 6 (Reuters) - New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitation, and human trafficking. Meta in response said it uses sophisticated technology, hires child safety experts, reports content to the National Center for Missing and Exploited Children, and shares "information and tools with other companies and law enforcement, including state attorneys general, to help root out predators." Montana Attorney General Austin Knudsen on Tuesday announced the state was suing Meta, saying Instagram was "intentionally designed to be addictive, particularly to minors."
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By David Shepardson WASHINGTON, Dec 6 (Reuters) - New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitation, and human trafficking. Meta in response said it uses sophisticated technology, hires child safety experts, reports content to the National Center for Missing and Exploited Children, and shares "information and tools with other companies and law enforcement, including state attorneys general, to help root out predators." The attorneys general of 33 states including California and New York said Meta repeatedly misled the public about the dangers of its platforms, and knowingly induced young children and teenagers into addictive and compulsive social media use.
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By David Shepardson WASHINGTON, Dec 6 (Reuters) - New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitation, and human trafficking. Montana Attorney General Austin Knudsen on Tuesday announced the state was suing Meta, saying Instagram was "intentionally designed to be addictive, particularly to minors." Meta, ByteDance's TikTok and Alphabet's GOOGL.O YouTube already face hundreds of lawsuits filed on behalf of children and school districts about the addictiveness of social media.
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6450aa94-4b25-4e26-84c0-6ee5e14a7538
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714478.0
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2023-12-06 00:00:00 UTC
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Technology Sector Update for 12/06/2023: S, META, NIO
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https://www.nasdaq.com/articles/technology-sector-update-for-12-06-2023%3A-s-meta-nio
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Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.4%.
The Philadelphia Semiconductor index was down 0.3%.
In corporate news, SentinelOne (S) shares soared almost 16%, a day after the company reported better-than-expected fiscal Q3 results.
Nio (NIO) shares jumped 7% after the company late Tuesday reported higher Q3 revenue.
Meta Platforms (META), its chief executive Mark Zuckerberg and its subsidiaries including Instagram are facing a lawsuit filed by New Mexico Attorney General Raul Torrez, who alleged that Meta's Facebook and Instagram have exposed children to sexual content and human trafficking. Meta shares were rising 0.3%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.4%. In corporate news, SentinelOne (S) shares soared almost 16%, a day after the company reported better-than-expected fiscal Q3 results. Meta Platforms (META), its chief executive Mark Zuckerberg and its subsidiaries including Instagram are facing a lawsuit filed by New Mexico Attorney General Raul Torrez, who alleged that Meta's Facebook and Instagram have exposed children to sexual content and human trafficking.
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In corporate news, SentinelOne (S) shares soared almost 16%, a day after the company reported better-than-expected fiscal Q3 results. Nio (NIO) shares jumped 7% after the company late Tuesday reported higher Q3 revenue. Meta shares were rising 0.3%.
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Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.4%. Nio (NIO) shares jumped 7% after the company late Tuesday reported higher Q3 revenue. Meta Platforms (META), its chief executive Mark Zuckerberg and its subsidiaries including Instagram are facing a lawsuit filed by New Mexico Attorney General Raul Torrez, who alleged that Meta's Facebook and Instagram have exposed children to sexual content and human trafficking.
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Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.4%. The Philadelphia Semiconductor index was down 0.3%. In corporate news, SentinelOne (S) shares soared almost 16%, a day after the company reported better-than-expected fiscal Q3 results.
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2023-12-06 00:00:00 UTC
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3 Smart Stock Picks From the Elliott Investment Management Portfolio
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https://www.nasdaq.com/articles/3-smart-stock-picks-from-the-elliott-investment-management-portfolio
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
One of activist investor Elliott Investment Management’s stock picks is Crown Castle (NYSE:CCI). They sent a letter to the board on Nov. 27 recommending various changes it felt the owner of cell towers should make to remedy its underperformance in the markets.
Elliott has amassed a $2 billion stake in the company. It would like to see new management and board leadership. In addition, it would like the company to conduct a strategic review of Crown Castle’s fiber business and several other initiatives to improve shareholder returns. In its letter to Crown Castle’s board, Elliot wrote:
“Crown Castle has continued to underperform its peers over all time periods in the last 15 years; has underperformed the S&P 500 index over one-, three- and five-year periods; and has seen its stock price recently hit a six-year low.”
Activist investors like Elliott make money by taking billion-dollar stakes in underperforming companies, campaigning for change operationally and at the board level, and then profiting from a higher stock price once changes have been completed.
While it doesn’t always work, Elliott is successful enough of the time that it’s built a business with nearly $60 billion in assets under management, including $13 billion listed on its quarterly 13F filing.
Here are three stocks to buy from that $13 billion.
Pinterest (PINS)
Source: photobyphotoboy / Shutterstock
Pinterest (NASDAQ:PINS) is Elliott’s fourth-largest holding, according to its Sept. 30 13-F, accounting for 5.88% of its $13 billion portfolio. It first started buying the stock in Q2 2022. It’s paid an estimated average of $22.61 per share for its PINS stock.
The visually-driven social media platform is up nearly 50% year-to-date. That puts it around where it traded in July 2020. It will take some time to revisit $80, but the business is reasonably strong.
In Q3 2023, its revenues rose 11% year-over-year to $763 million, with GAAP net income of $6.7 million, up 110% from a loss of $65.2 million in Q3 2022. More importantly, its global monthly active users (MAUs) were 482 million at the end of the third quarter, 8% higher than a year ago and a record high for the company.
What amazes me about Pinterest is that it’s barely scratched the surface outside the U.S. and Canada. In Q3, its revenue in Europe and the rest of world increased by 33% and 29%, respectively, yet combined, they accounted for just 19% of revenue overall. This is despite possessing 80% of the global MAUs.
In Q4 2023, it expects revenue to increase by 11% at the midpoint of its guidance, while its non-GAAP operating expenses will fall by 11%, leading to higher profits in the year’s final quarter.
Look at the cash flow statement from the third quarter; you’ll see that the company repurchased $500 million of its stock through the first nine months of 2023, the entire amount of its $500 million share repurchase program approved in February.
Pinterest paid $500.5 million for 21.22 million shares of its stock in the second quarter, at an average price of $23.59. Based on its current share price, that’s a return on investment of 44% in less than a year.
On Sept. 16, its board approved a $1 billion buyback plan. I’m all for it if it makes timely buys like the ones in the third quarter.
Triple Flag Precious Metals (TFPM)
Source: corlaffra / Shutterstock
This is Elliott’s largest position at $1.75 billion, accounting for 13.58% of its portfolio.
I’d never heard of Triple Flag Precious Metals (NYSE:TFPM). The Toronto-based company provides streaming and royalty financing to mine operators. These royalties are based on revenues from operating mines in the Americas and Australia producing gold and silver.
The beauty of this business model is that it’s not making equity investments in the mines or the operators of those mines, so it has limited exposure to the operating and capital costs associated with them.
It can generate significant free cash flow because it has no capital expenditure exposure through its royalty financing. In the last 12 months ended Sept. 30, it had a free cash flow of $153 million, up from $118 million in 2022. Since 2017, its free cash flow has grown by 467%.
Based on an enterprise value of $2.85 billion, it has a free cash flow yield of 5.4%. Anything between 4% and 8% is a reasonable valuation.
Whether we’re talking oil and gas, mining, restaurants, technology, etc., royalty financing is a much safer way to bet on individual industries and sectors. I can see why Elliott’s made Triple Flag a top investment.
Howmet Aerospace (HWM)
Source: Shutterstock
Howmet Aerospace (NYSE:HWM) is a much smaller investment for Elliott, accounting for 1.95% of its portfolio. It used to be much larger, but it sold 11.66 million shares in the third quarter, reducing its stake from 7.46% of its portfolio at the end of June.
Elliott first started buying the stock in Q4 2015. It’s estimated to have paid an average price of $21.67, considerably less than where it currently trades.
As mentioned, I look at a company’s free cash flow yield to determine its valuation. Howmet generated $689 million in free cash flow in the 12 months ending Sept. 30. Based on an enterprise value of $25.3 billion, it has a free cash yield of 2.7%, putting it below my 4% minimum.
However, as long as it grows free cash flow at 10%+ annually, I don’t see a problem holding HWM long term. That said, if you’re looking for a quick strike based on its momentum, you could be disappointed in the near term due to its lofty valuation.
As for analysts, 22 cover its stock, with 17 rating it Overweight or an outright Buy, with a $57 target price, 9% above where it’s currently trading. These same analysts expect it to earn $1.77 in 2023, $2.14 in 2024, and $2.60 in 2025. Trading at 20x its 2025 earnings, that’s right around its five-year average.
I like this aerospace and defense company’s growth prospects in 2024 and beyond.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.
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The post 3 Smart Stock Picks From the Elliott Investment Management Portfolio appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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More importantly, its global monthly active users (MAUs) were 482 million at the end of the third quarter, 8% higher than a year ago and a record high for the company. In Q4 2023, it expects revenue to increase by 11% at the midpoint of its guidance, while its non-GAAP operating expenses will fall by 11%, leading to higher profits in the year’s final quarter. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Smart Stock Picks From the Elliott Investment Management Portfolio appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips One of activist investor Elliott Investment Management’s stock picks is Crown Castle (NYSE:CCI). Triple Flag Precious Metals (TFPM) Source: corlaffra / Shutterstock This is Elliott’s largest position at $1.75 billion, accounting for 13.58% of its portfolio. Howmet Aerospace (HWM) Source: Shutterstock Howmet Aerospace (NYSE:HWM) is a much smaller investment for Elliott, accounting for 1.95% of its portfolio.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips One of activist investor Elliott Investment Management’s stock picks is Crown Castle (NYSE:CCI). In its letter to Crown Castle’s board, Elliot wrote: “Crown Castle has continued to underperform its peers over all time periods in the last 15 years; has underperformed the S&P 500 index over one-, three- and five-year periods; and has seen its stock price recently hit a six-year low.” Activist investors like Elliott make money by taking billion-dollar stakes in underperforming companies, campaigning for change operationally and at the board level, and then profiting from a higher stock price once changes have been completed. Look at the cash flow statement from the third quarter; you’ll see that the company repurchased $500 million of its stock through the first nine months of 2023, the entire amount of its $500 million share repurchase program approved in February.
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Pinterest paid $500.5 million for 21.22 million shares of its stock in the second quarter, at an average price of $23.59. I’m all for it if it makes timely buys like the ones in the third quarter. As mentioned, I look at a company’s free cash flow yield to determine its valuation.
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2023-12-06 00:00:00 UTC
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Financial Sector Update for 12/06/2023: BLK, MA, JPM, C, MS, GS
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https://www.nasdaq.com/articles/financial-sector-update-for-12-06-2023%3A-blk-ma-jpm-c-ms-gs
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Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index rising 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.1%.
The Philadelphia Housing Index was climbing 2% and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.2%.
Bitcoin (BTC-USD) was declining 0.5% to $43,882, and the yield for 10-year US Treasuries was dropping 6 basis points to 4.12%.
In economic news, ADP's monthly measure of private payrolls showed an increase of 103,000 in November, below expectations compiled by Bloomberg as of 7:45 am ET for a 130,000 gain and following a downwardly revised expansion of 106,000 in October.
In corporate news, BlackRock (BLK) is set to introduce generative artificial intelligence tools to clients next month, the Financial Times reported Wednesday. BlackRock shares were shedding 0.6%.
Mastercard (MA) rose 0.4% after it said late Tuesday its board late has approved a new stock buyback program of up to $11 billion of its common shares and a 16% increase in quarterly dividend.
CEOs including JPMorgan's (JPM) Jamie Dimon, Morgan Stanley's (MS) James Gorman, Goldman Sach's (GS) David Soloman, and Citigroup's (C) Jane Fraser testified on Wednesday to the Senate Banking, Housing, and Urban Affairs Committee regarding banking regulation and the resilience of the US financial system. Topics discussed included cryptocurrencies, the FedNow instant payment service, and whether or not the carried interest loophole should be closed.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In economic news, ADP's monthly measure of private payrolls showed an increase of 103,000 in November, below expectations compiled by Bloomberg as of 7:45 am ET for a 130,000 gain and following a downwardly revised expansion of 106,000 in October. In corporate news, BlackRock (BLK) is set to introduce generative artificial intelligence tools to clients next month, the Financial Times reported Wednesday. CEOs including JPMorgan's (JPM) Jamie Dimon, Morgan Stanley's (MS) James Gorman, Goldman Sach's (GS) David Soloman, and Citigroup's (C) Jane Fraser testified on Wednesday to the Senate Banking, Housing, and Urban Affairs Committee regarding banking regulation and the resilience of the US financial system.
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Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index rising 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.1%. The Philadelphia Housing Index was climbing 2% and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.2%. In corporate news, BlackRock (BLK) is set to introduce generative artificial intelligence tools to clients next month, the Financial Times reported Wednesday.
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Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index rising 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.1%. Mastercard (MA) rose 0.4% after it said late Tuesday its board late has approved a new stock buyback program of up to $11 billion of its common shares and a 16% increase in quarterly dividend. CEOs including JPMorgan's (JPM) Jamie Dimon, Morgan Stanley's (MS) James Gorman, Goldman Sach's (GS) David Soloman, and Citigroup's (C) Jane Fraser testified on Wednesday to the Senate Banking, Housing, and Urban Affairs Committee regarding banking regulation and the resilience of the US financial system.
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Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index rising 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.1%. Bitcoin (BTC-USD) was declining 0.5% to $43,882, and the yield for 10-year US Treasuries was dropping 6 basis points to 4.12%. In corporate news, BlackRock (BLK) is set to introduce generative artificial intelligence tools to clients next month, the Financial Times reported Wednesday.
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2023-12-06 00:00:00 UTC
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Secure Your Retirement With These 3 Dividend Stocks
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https://www.nasdaq.com/articles/secure-your-retirement-with-these-3-dividend-stocks
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
One of the best ways to keep your portfolio safe and generate consistent income is investing in dividend stocks. And when they’re paid out by reputable companies that have raised dividends for years, they have lasting strength and stability.
For example, let’s look at American States Water (NYSE:AWR).
American States is a water and electrical utility company that’s been around since 1929. For the last 69 years, it has consistently increased its dividend. Not only are you owning a reliable company with financial stability, you are also owning a stock that continues to pay.
That’s the kind of security to keep your retirement safe. So, let’s explore other reliable and safe dividend stocks to buy and hold now.
Realty Income (O)
Source: Shutterstock
With a yield of 5.51% and interest rates likely to drop in 2024, Realty Income (NYSE:O) is a steal at current prices. Since bottoming out around $46, it ran back to $55.80. Now, if it can break above resistance at $56.09, it could potentially run back to $60 a share, near term.
Even better, Realty Income is a reliable, dividend-paying powerhouse that should thrive with interest rates likely to dip. Already around for 50 years, it’s managed to survive every major historical economic disaster and recovery. And it’ll probably be around for another 50 with even higher yields down the road.
With 13,100 properties, it’s still seeing strong demand, with an occupancy rate of 99%. In fact, Realty Income has some of the most reliable tenants on the market. Those include Dollar General (NYSE:DG), Walgreen’s (NASDAQ:WBA), Dollar Tree (NASDAQ:DLTR), FedEx (NYSE:FDX), BJ’s (NYSE:BJ), CVS (NYSE:CVS), Walmart (NYSE:WMT), and Lowe’s (NYSE:LOW).
AT&T (T)
Source: Roman Tiraspolsky / Shutterstock.com
With a yield of about 6.5%, AT&T (NYSE:T) is another top dividend stock to consider for the long term. While the first half of 2023 was a disaster for the telecom, it recently jumped from about $13.50 to $17.18. From here, I’d eventually like to see it refill its bearish gap around $19 a share.
Helping, analysts at Citi just raised their price target to $18, with a buy rating. That was after “AT&T reported strong Q3 results, with better than anticipated volumes from postpaid phones and fiber net adds and EBITDA growth of 4.6%,” as noted by TheFly.com.
Even better, AT&T director Stephen J. Luczo just bought $971,875 worth of AT&T shares at an average price of $15.55. Plus, AT&T has been running on news it’ll spend $14 billion on network equipment in a deal with Ericsson (ERIC).
“With this collaboration, we will open up radio access networks, drive innovation, spur competition and connect more Americans with 5G and fiber,” said Chris Sambar, executive vice president of AT&T Network, as quoted by Barron’s.
SPDR Portfolio S&P 500 High Dividend ETF (SPYD)
Source: Eviart / Shutterstock.com
Finally, dividend-paying ETFs, like the SPDR Portfolio S&P 500 High Dividend ETF (NYSEARCA:SPYD) are a catch.
With an expense ratio of 0.07% and a yield of 4.81%, the ETF provides dividend income and the opportunity for capital appreciation, according to State Street Global Advisors. Some of its top holdings include NRG Energy(NYSE:NRG), Phillips 66 (NYSE:PSX), Packaging Corp. of America (NYSE:PKG), and IBM (NYSE:IBM) to name a few.
After a volatile year, the ETF recently bottomed out around $33 and ran to $37.62 in recent weeks. Now, if it can break above resistance around $38.44, it could test $40 again soon.
On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.
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The post Secure Your Retirement With These 3 Dividend Stocks 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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Source: Roman Tiraspolsky / Shutterstock.com With a yield of about 6.5%, AT&T (NYSE:T) is another top dividend stock to consider for the long term. That was after “AT&T reported strong Q3 results, with better than anticipated volumes from postpaid phones and fiber net adds and EBITDA growth of 4.6%,” as noted by TheFly.com. With an expense ratio of 0.07% and a yield of 4.81%, the ETF provides dividend income and the opportunity for capital appreciation, according to State Street Global Advisors.
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Those include Dollar General (NYSE:DG), Walgreen’s (NASDAQ:WBA), Dollar Tree (NASDAQ:DLTR), FedEx (NYSE:FDX), BJ’s (NYSE:BJ), CVS (NYSE:CVS), Walmart (NYSE:WMT), and Lowe’s (NYSE:LOW). SPDR Portfolio S&P 500 High Dividend ETF (SPYD) Source: Eviart / Shutterstock.com Finally, dividend-paying ETFs, like the SPDR Portfolio S&P 500 High Dividend ETF (NYSEARCA:SPYD) are a catch. Some of its top holdings include NRG Energy(NYSE:NRG), Phillips 66 (NYSE:PSX), Packaging Corp. of America (NYSE:PKG), and IBM (NYSE:IBM) to name a few.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips One of the best ways to keep your portfolio safe and generate consistent income is investing in dividend stocks. Those include Dollar General (NYSE:DG), Walgreen’s (NASDAQ:WBA), Dollar Tree (NASDAQ:DLTR), FedEx (NYSE:FDX), BJ’s (NYSE:BJ), CVS (NYSE:CVS), Walmart (NYSE:WMT), and Lowe’s (NYSE:LOW). 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 Secure Your Retirement With These 3 Dividend Stocks appeared first on InvestorPlace.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips One of the best ways to keep your portfolio safe and generate consistent income is investing in dividend stocks. So, let’s explore other reliable and safe dividend stocks to buy and hold now. Now, if it can break above resistance at $56.09, it could potentially run back to $60 a share, near term.
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2023-12-06 00:00:00 UTC
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Energy Sector Update for 12/06/2023: FLNC, OSG, XOM
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https://www.nasdaq.com/articles/energy-sector-update-for-12-06-2023%3A-flnc-osg-xom
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Energy stocks declined Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1%.
The Philadelphia Oil Service Sector index slumped 1.7%, and the Dow Jones US Utilities index rose 0.9%.
US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1 following an increase of 1.9 million barrels in the previous week.
West Texas Intermediate crude tumbled 3.8% to $69.56 a barrel, while global benchmark Brent slid 3.5% to $74.51 a barrel. Henry Hub natural gas futures plunged 5.7% to $2.555 per 1 million BTU.
In corporate news, Fluence Energy (FLNC) fell 13% after some controlling stockholders launched a secondary offering of shares.
Overseas Shipholding Group (OSG) shares jumped 5.5% after its board declared the first dividend since the spinoff of the international division in 2016 and authorized a boost in a stock buyback plan.
Exxon Mobil (XOM) said it updated its corporate plan through 2027, including a target for an additional $6 billion in structural cost reductions, bringing total cost savings to about $15 billion compared with 2019. The shares fell 1.4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Henry Hub natural gas futures plunged 5.7% to $2.555 per 1 million BTU. In corporate news, Fluence Energy (FLNC) fell 13% after some controlling stockholders launched a secondary offering of shares. Overseas Shipholding Group (OSG) shares jumped 5.5% after its board declared the first dividend since the spinoff of the international division in 2016 and authorized a boost in a stock buyback plan.
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Energy stocks declined Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1%. The Philadelphia Oil Service Sector index slumped 1.7%, and the Dow Jones US Utilities index rose 0.9%. US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1 following an increase of 1.9 million barrels in the previous week.
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Energy stocks declined Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1%. US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1 following an increase of 1.9 million barrels in the previous week. Overseas Shipholding Group (OSG) shares jumped 5.5% after its board declared the first dividend since the spinoff of the international division in 2016 and authorized a boost in a stock buyback plan.
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Energy stocks declined Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the Energy Select Sector SPDR Fund (XLE) dropping 1%. US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 4.3 million barrels in the week ended Dec. 1 following an increase of 1.9 million barrels in the previous week. The shares fell 1.4%.
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2023-12-06 00:00:00 UTC
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UniCredit seeks new chair candidate by early 2024, sources say
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https://www.nasdaq.com/articles/unicredit-seeks-new-chair-candidate-by-early-2024-sources-say
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By Giuseppe Fonte, Valentina Za and Elvira Pollina
MILAN, Dec 6 (Reuters) - UniCredit's CRDI.MI board is working to pick a new candidate to chair the Italian bank by early January as it prepares to hand Chief Executive Andrea Orcel a new contract in spring 2024, two sources close to the matter said.
The list of nominees the board will propose to the annual shareholders' meeting is expected to include a new candidate to succeed Chairman Pier Carlo Padoan, the sources said, who asked not to be named as the information is confidential.
Deliberations are ongoing and leading shareholders will have a say in the matter, one of the sources said. U.S. fund BlackRock BLK.N is UniCredit's No. 1 shareholder, followed by German insurer Allianz ALVG.DE.
UniCredit declined to comment.
The bank has been striving to rebuild relations with the Rome government after Orcel in 2021 walked away from buying state-owned Monte dei Paschi di Siena BMPS.MI.
The former head of investment banking at UBS had returned to Italy, after building his career abroad, to lead UniCredit in the spring of that year.
Prime Minister Giorgia Meloni's rightist administration is wary of Orcel and the dealmaking skills he honed over three decades in investment banking, government sources have previously told Reuters.
The board's new chair could help strengthen ties with Rome, but Padoan, 73, an economist who was finance minister under centre-left prime ministers Matteo Renzi and Paolo Gentiloni, is seen as ill-suited in that respect.
Among potential candidates to succeed him are board members Elena Carletti and Lamberto Andreotti, heads of the risk and nomination committees, respectively.
Carletti, currently a finance professor at Milan's Bocconi University after holding academic positions in Germany, has been a UniCredit director since 2019.
Andreotti, 73, is the former CEO of Bristol-Myers Squibb BMY.N, and son of several times Prime Minister Giulio Andreotti.
UniCredit in September hired two executive search firms to help its board select candidates for its renewal.
Normally, the bank would want the future chair to work on the board's selection process, which would be possible with Carletti and Andreotti as they are already on the board, though Andreotti would need to leave his role at the helm of the nominations committee.
Padoan became a board member prior to being named chair and worked with headhunters on selecting board nominees.
Another candidate who has been considered is Pier Francesco Saviotti, a veteran Italian banker who worked with Orcel at Merrill Lynch.
However, another person with knowledge of the matter ruled out Saviotti as well as another former investment banker, Massimo Tononi, who currently chairs Banco BPM's board and has been mentioned in the Italian press.
Daniele Franco, who served as economy minister with Meloni's predecessor Mario Draghi, is also a possible option, but his chances are slim, the sources said.
A former Bank of Italy official, Franco is currently one of five candidates to become the next president of the European Investment Bank, but Spanish Finance Minister Nadia Calvino is leading the race.
While he has good relations with Economy Minister Giancarlo Giorgetti, Franco's ties with the top tier of Meloni's office are viewed as too weak.
(Additional reporting by Andrea Mandala and Gianluca Semeraro Editing by Mark Potter and Leslie Adler)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))
The views and 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 Giuseppe Fonte, Valentina Za and Elvira Pollina MILAN, Dec 6 (Reuters) - UniCredit's CRDI.MI board is working to pick a new candidate to chair the Italian bank by early January as it prepares to hand Chief Executive Andrea Orcel a new contract in spring 2024, two sources close to the matter said. The list of nominees the board will propose to the annual shareholders' meeting is expected to include a new candidate to succeed Chairman Pier Carlo Padoan, the sources said, who asked not to be named as the information is confidential. Prime Minister Giorgia Meloni's rightist administration is wary of Orcel and the dealmaking skills he honed over three decades in investment banking, government sources have previously told Reuters.
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By Giuseppe Fonte, Valentina Za and Elvira Pollina MILAN, Dec 6 (Reuters) - UniCredit's CRDI.MI board is working to pick a new candidate to chair the Italian bank by early January as it prepares to hand Chief Executive Andrea Orcel a new contract in spring 2024, two sources close to the matter said. Among potential candidates to succeed him are board members Elena Carletti and Lamberto Andreotti, heads of the risk and nomination committees, respectively. Padoan became a board member prior to being named chair and worked with headhunters on selecting board nominees.
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By Giuseppe Fonte, Valentina Za and Elvira Pollina MILAN, Dec 6 (Reuters) - UniCredit's CRDI.MI board is working to pick a new candidate to chair the Italian bank by early January as it prepares to hand Chief Executive Andrea Orcel a new contract in spring 2024, two sources close to the matter said. Normally, the bank would want the future chair to work on the board's selection process, which would be possible with Carletti and Andreotti as they are already on the board, though Andreotti would need to leave his role at the helm of the nominations committee. A former Bank of Italy official, Franco is currently one of five candidates to become the next president of the European Investment Bank, but Spanish Finance Minister Nadia Calvino is leading the race.
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Deliberations are ongoing and leading shareholders will have a say in the matter, one of the sources said. Padoan became a board member prior to being named chair and worked with headhunters on selecting board nominees. Another candidate who has been considered is Pier Francesco Saviotti, a veteran Italian banker who worked with Orcel at Merrill Lynch.
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f20289ff-b421-43d1-b4ca-ee0d67daed4b
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714484.0
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2023-12-06 00:00:00 UTC
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Why CrossAmerica (CAPL) Might be Well Poised for a Surge
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DCOMP
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https://www.nasdaq.com/articles/why-crossamerica-capl-might-be-well-poised-for-a-surge
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nan
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nan
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CrossAmerica Partners (CAPL) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this wholesale fuels distributor is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for CrossAmerica, as there has been strong agreement among the covering analysts in raising estimates.
Current-Quarter Estimate Revisions
For the current quarter, the company is expected to earn $0.22 per share, which is a change of -48.84% from the year-ago reported number.
Over the last 30 days, the Zacks Consensus Estimate for CrossAmerica has increased 22.22% because one estimate has moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the earnings estimate of $0.85 per share represents a change of -47.85% from the year-ago number.
The revisions trend for the current year also appears quite promising for CrossAmerica, with one estimate moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 25%.
Favorable Zacks Rank
The promising estimate revisions have helped CrossAmerica earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for CrossAmerica have attracted decent investments and pushed the stock 7.7% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
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
CrossAmerica Partners LP (CAPL) : 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' growing optimism on the earnings prospects of this wholesale fuels distributor is driving estimates higher, which should get reflected in its stock price. Current-Quarter Estimate Revisions For the current quarter, the company is expected to earn $0.22 per share, which is a change of -48.84% from the year-ago reported number. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
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Over the last 30 days, the Zacks Consensus Estimate for CrossAmerica has increased 22.22% because one estimate has moved higher compared to no negative revisions. The revisions trend for the current year also appears quite promising for CrossAmerica, with one estimate moving higher over the past month compared to no negative revisions. Favorable Zacks Rank The promising estimate revisions have helped CrossAmerica earn a Zacks Rank #1 (Strong Buy).
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The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Favorable Zacks Rank The promising estimate revisions have helped CrossAmerica earn a Zacks Rank #1 (Strong Buy). Bottom Line While strong estimate revisions for CrossAmerica have attracted decent investments and pushed the stock 7.7% higher over the past four weeks, further upside may still be left in the stock.
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Consensus earnings estimates for the next quarter and full year have moved considerably higher for CrossAmerica, as there has been strong agreement among the covering analysts in raising estimates. The revisions trend for the current year also appears quite promising for CrossAmerica, with one estimate moving higher over the past month compared to no negative revisions. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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604a50a3-a8dc-45aa-8baf-eade24270bc7
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714485.0
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2023-12-06 00:00:00 UTC
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Virco (VIRC) Gears Up to Post Q3 Earnings: What to Expect?
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DCOMP
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https://www.nasdaq.com/articles/virco-virc-gears-up-to-post-q3-earnings%3A-what-to-expect
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nan
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Virco Mfg. Corporation VIRC is expected to have generated lower earnings in third-quarter fiscal 2024 on a year-over-year basis due to higher freight and service costs.
In the last reported quarter, the company’s earnings and net sales surpassed the Zacks Consensus Estimate by 48.4% and 12.7%, respectively. On a year-over-year basis, revenues increased by 30% and earnings per share expanded by 58.3% from the year-ago quarter.
Its bottom line topped the consensus mark in each of the trailing four quarters, with an average of 174.4%.
Trend in Estimate Revision
The Zacks Consensus Estimate for the to-be-reported quarter’s earnings has remained stable at 39 cents per share over the past 60 days. The estimated figure indicates an 18.8% decline from the year-ago quarter’s earnings of 48 cents per share.
Virco Manufacturing Corporation Price and EPS Surprise
Virco Manufacturing Corporation price-eps-surprise | Virco Manufacturing Corporation Quote
The consensus mark for net sales is $81.3 million, suggesting a rise of 5% year over year.
Factors to Note
VIRC is likely to have generated soft net sales and lower earnings in the fiscal third quarter. This educational furniture company primarily faces extreme seasonality and generates approximately 50% of its total sales from June to August each year and the remaining 50% in the rest of the year.
This apart, it experiences significant freight and service costs as well as shipping and classroom delivery costs, which ultimately impact the bottom line. These headwinds are likely to have affected its fiscal third-quarter results.
Nonetheless, Virco’s vertically integrated model remains highly adaptable to assist schools in adjusting their calendars and curricula to address student learning challenges. This adaptability, coupled with solid control over inventories, delivery performance and the entire order-to-cash cycle, enables the company to continue serving educators and students in finding innovative solutions to recent challenges.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Virco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Virco currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Some Recent Consumer Discretionary Releases
Leggett & Platt, Inc. LEG reported tepid third-quarter 2023 results, with earnings and sales missing the Zacks Consensus Estimate.
The top and bottom lines declined on a year-over-year basis. The downtrend was caused by persistent weak demand in the Bedding Products and Furniture and Flooring & Textile Products segments, partially offset by strong demand in the Specialized Products segment.
Strategic Education, Inc. or SEI STRA reported impressive results for third-quarter 2023. Its quarterly earnings and revenues topped the respective Zacks Consensus Estimate and increased year over year.
Growth across its three segments, led by continued enrollment growth in U.S. Higher Education, driven significantly by employer-affiliated enrollment, strong growth in Education Technology Services (earlier known as Alternative Learning) and improving performance in Australia/New Zealand, drove the result.
Adtalem Global Education Inc. ATGE reported impressive results for first-quarter fiscal 2024. Earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year, given solid enrollment growth and strategic initiatives.
The company's accelerated performance across five operational pillars highlights its market-leading scale and healthcare focus. The company also raised its fiscal 2024 guidance. With 80,000 students and 300,000 alumni, ATGE is well-equipped to address critical healthcare provider shortages.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Strategic Education Inc. (STRA) : Free Stock Analysis Report
Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report
Virco Manufacturing Corporation (VIRC) : Free Stock Analysis Report
Adtalem Global Education Inc. (ATGE) : 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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Nonetheless, Virco’s vertically integrated model remains highly adaptable to assist schools in adjusting their calendars and curricula to address student learning challenges. This adaptability, coupled with solid control over inventories, delivery performance and the entire order-to-cash cycle, enables the company to continue serving educators and students in finding innovative solutions to recent challenges. Some Recent Consumer Discretionary Releases Leggett & Platt, Inc. LEG reported tepid third-quarter 2023 results, with earnings and sales missing the Zacks Consensus Estimate.
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Its quarterly earnings and revenues topped the respective Zacks Consensus Estimate and increased year over year. Earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year, given solid enrollment growth and strategic initiatives. Click to get this free report Strategic Education Inc. (STRA) : Free Stock Analysis Report Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report Virco Manufacturing Corporation (VIRC) : Free Stock Analysis Report Adtalem Global Education Inc. (ATGE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the last reported quarter, the company’s earnings and net sales surpassed the Zacks Consensus Estimate by 48.4% and 12.7%, respectively. Its quarterly earnings and revenues topped the respective Zacks Consensus Estimate and increased year over year. Click to get this free report Strategic Education Inc. (STRA) : Free Stock Analysis Report Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report Virco Manufacturing Corporation (VIRC) : Free Stock Analysis Report Adtalem Global Education Inc. (ATGE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the last reported quarter, the company’s earnings and net sales surpassed the Zacks Consensus Estimate by 48.4% and 12.7%, respectively. Nonetheless, Virco’s vertically integrated model remains highly adaptable to assist schools in adjusting their calendars and curricula to address student learning challenges. Its quarterly earnings and revenues topped the respective Zacks Consensus Estimate and increased year over year.
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a582ab01-fe01-44a8-9196-d14ae81129ad
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714486.0
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2023-12-06 00:00:00 UTC
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Why Asana Stock Dropped Today
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DCOMP
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https://www.nasdaq.com/articles/why-asana-stock-dropped-today
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nan
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nan
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Shares of Asana (NYSE: ASAN) were down 16.3% as of 1:30 p.m. ET Wednesday despite a stronger-than-expected quarterly report from the work management software company.
Indeed, Asana's fiscal third-quarter revenue grew 18% year over year to $166.5 million, translating to an adjusted (non-GAAP) net loss of $8.2 million, or $0.04 per share. Analysts, on average, were modeling a wider net loss of $0.11 per share on revenue of $164 million.
Why Asana's quarterly beat just wasn't enough
Asana co-founder and CEO Dustin Moskovitz credited the revenue beat to a 20% increase in revenue from core customers -- or those spending at least $5,000 in annual recurring revenue (ARR) on Asana's platform. The number of core customers also grew 14% year over year to 21,346. Asana also saw momentum from even larger customers, with an 18% increase (to 580) in the number of clients spending $100,000 or more.
So why are shares falling today? During the subsequent conference call, Moskovitz noted that macroeconomic headwinds continue to impact the company's renewal base -- though he added Asana has seen "signs of stabilization in new business."
Chief Operating Officer Anne Raimondi noted that "deal cycles continue to be longer and budgets continue to be a significant factor."
Indeed, Asana's dollar-based net retention rate (DBNRR) during the quarter remained over 100%, meaning existing customers spent as much or more on Asana's solutions after their first year. But the metric also contracted significantly from last quarter's overall DBNRR of 105%. DBNRR remained higher for core customers at 105% in Q3 (down from 110% in Q2), and increased to 120% for those with ARR of at least $100,000 (down from 125% last quarter).
What's next for Asana stock?
For the current fiscal fourth quarter, Asana issued guidance for revenue of $167 million to $168 million, or growth of 11% to 12%, which should translate to an adjusted net loss per share of $0.10 to $0.09. Here again, both ranges were well above analysts' consensus estimates for a loss of $0.16 per share on revenue of $166.8 million.
As such, for the full fiscal year ending in January, Asana raised its outlook to call for revenue of $648.5 million to $649.5 million (up from $642 million to $648 million before), with an adjusted net loss per share of $0.27 to $0.26 (increased from a per-share loss of $0.39 to $0.42 previously).
With shares of Asana up 76% in calendar year 2023 to date leading up to this report, however, the market is clearly concerned over the impact of macro headwinds on Asana's renewal base and net retention rates. Until the company demonstrates more tangible signs of improvement to that end, I suspect Asana stock will remain under pressure.
10 stocks we like better than Asana
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Asana 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
Steve Symington has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Asana. 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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Analysts, on average, were modeling a wider net loss of $0.11 per share on revenue of $164 million. During the subsequent conference call, Moskovitz noted that macroeconomic headwinds continue to impact the company's renewal base -- though he added Asana has seen "signs of stabilization in new business." Until the company demonstrates more tangible signs of improvement to that end, I suspect Asana stock will remain under pressure.
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Indeed, Asana's fiscal third-quarter revenue grew 18% year over year to $166.5 million, translating to an adjusted (non-GAAP) net loss of $8.2 million, or $0.04 per share. During the subsequent conference call, Moskovitz noted that macroeconomic headwinds continue to impact the company's renewal base -- though he added Asana has seen "signs of stabilization in new business." As such, for the full fiscal year ending in January, Asana raised its outlook to call for revenue of $648.5 million to $649.5 million (up from $642 million to $648 million before), with an adjusted net loss per share of $0.27 to $0.26 (increased from a per-share loss of $0.39 to $0.42 previously).
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Indeed, Asana's fiscal third-quarter revenue grew 18% year over year to $166.5 million, translating to an adjusted (non-GAAP) net loss of $8.2 million, or $0.04 per share. Why Asana's quarterly beat just wasn't enough Asana co-founder and CEO Dustin Moskovitz credited the revenue beat to a 20% increase in revenue from core customers -- or those spending at least $5,000 in annual recurring revenue (ARR) on Asana's platform. As such, for the full fiscal year ending in January, Asana raised its outlook to call for revenue of $648.5 million to $649.5 million (up from $642 million to $648 million before), with an adjusted net loss per share of $0.27 to $0.26 (increased from a per-share loss of $0.39 to $0.42 previously).
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Indeed, Asana's fiscal third-quarter revenue grew 18% year over year to $166.5 million, translating to an adjusted (non-GAAP) net loss of $8.2 million, or $0.04 per share. What's next for Asana stock? See the 10 stocks *Stock Advisor returns as of December 4, 2023 Steve Symington has no position in any of the stocks mentioned.
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a85fd002-ec86-409c-993c-e857d8372543
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714487.0
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2023-12-06 00:00:00 UTC
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Dish (DISH) Up 9.3% Since Last Earnings Report: Can It Continue?
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DCOMP
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https://www.nasdaq.com/articles/dish-dish-up-9.3-since-last-earnings-report%3A-can-it-continue
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nan
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nan
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It has been about a month since the last earnings report for Dish Network (DISH). Shares have added about 9.3% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Dish due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
DISH Network Q3 Earnings Miss, Revenues Decline Y/Y
DISH Network reported third-quarter 2023 loss of 26 cents per share, in contrast to the Zacks Consensus Estimate of earnings of 25 cents per share. The bottom line also declined 140% year over year.
Revenues decreased 9.7% year over year to $3.7 billion and lagged the consensus mark by 3.69%.
Revenues from the United States fell 9.5% year over year to $3.69 billion. Revenues from Canada and Mexico decreased 23.2% to $9.97 million.
DISH also announced that it has entered into an agreement to acquire EchoStar Corporation in an all-stock merger.
Quarterly Details
Pay-TV revenues decreased 8.8% year over year to $2.8 billion. DISH exited the reported quarter with 8.84 million Pay-TV subscribers, down 11.8% year over year.
DISH TV subscribers declined 11.7% year over year to 6.72 million. SLING TV subscribers decreased 12.1% year over year to 2.12 million.
Pay-TV average revenue per user (ARPU) increased 3.1% year over year to $105.25. DISH TV churn rate was 1.58% compared with the year-ago quarter’s 1.53%.
Wireless revenues were $900 million, down 11.6% year over year. Wireless subscribers at the end of the reported quarter were 7.5 million, down 6.3% year over year.
Wireless ARPU was $35.74, whereas the Wireless churn rate was 4.21% in the reported quarter.
Total costs and expenses increased 2.1% year over year to $3.74 billion.
Operating loss was $41.8 million, down 109.8% year over year.
Pay-TV operating income decreased 9% year over year to $589.46 million. Wireless operating loss was $631.27 million compared with the year-ago quarter’s loss of $220.62 million.
Balance Sheet
As of Sep 30, 2023, DISH Network had cash, cash equivalents and current marketable investment securities of $1.035 billion compared with $1.78 billion as of Jun 30, 2023.
Total debt, as of Sep 30, 2023, was $21.24 billion compared with $21.31 billion as of Jun 30, 2023.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -107.58% due to these changes.
VGM Scores
At this time, Dish has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Dish has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Dish is part of the Zacks Cable Television industry. Over the past month, Liberty Global Ltd (LBTYA), a stock from the same industry, has gained 2.1%. The company reported its results for the quarter ended September 2023 more than a month ago.
Liberty Global Ltd reported revenues of $1.85 billion in the last reported quarter, representing a year-over-year change of +5.7%. EPS of $1.57 for the same period compares with $3.80 a year ago.
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
DISH Network Corporation (DISH) : Free Stock Analysis Report
Liberty Global Ltd (LBTYA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. 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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DISH Network Q3 Earnings Miss, Revenues Decline Y/Y DISH Network reported third-quarter 2023 loss of 26 cents per share, in contrast to the Zacks Consensus Estimate of earnings of 25 cents per share. Wireless operating loss was $631.27 million compared with the year-ago quarter’s loss of $220.62 million. Click to get this free report DISH Network Corporation (DISH) : Free Stock Analysis Report Liberty Global Ltd (LBTYA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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DISH Network Q3 Earnings Miss, Revenues Decline Y/Y DISH Network reported third-quarter 2023 loss of 26 cents per share, in contrast to the Zacks Consensus Estimate of earnings of 25 cents per share. DISH exited the reported quarter with 8.84 million Pay-TV subscribers, down 11.8% year over year. Click to get this free report DISH Network Corporation (DISH) : Free Stock Analysis Report Liberty Global Ltd (LBTYA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It has been about a month since the last earnings report for Dish Network (DISH). DISH exited the reported quarter with 8.84 million Pay-TV subscribers, down 11.8% year over year. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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8a999991-6937-4c8b-aebd-9357f92e21ed
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714488.0
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2023-12-06 00:00:00 UTC
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Notable Wednesday Option Activity: TFC, JBHT, MO
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DCOMP
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https://www.nasdaq.com/articles/notable-wednesday-option-activity%3A-tfc-jbht-mo
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nan
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nan
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Truist Financial Corp (Symbol: TFC), where a total volume of 50,240 contracts has been traded thus far today, a contract volume which is representative of approximately 5.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 62.7% of TFC's average daily trading volume over the past month, of 8.0 million shares. Especially high volume was seen for the $37.50 strike call option expiring February 16, 2024, with 20,034 contracts trading so far today, representing approximately 2.0 million underlying shares of TFC. Below is a chart showing TFC's trailing twelve month trading history, with the $37.50 strike highlighted in orange:
J.B. Hunt Transport Services, Inc. (Symbol: JBHT) saw options trading volume of 3,559 contracts, representing approximately 355,900 underlying shares or approximately 58.3% of JBHT's average daily trading volume over the past month, of 610,350 shares. Particularly high volume was seen for the $200 strike call option expiring January 19, 2024, with 1,520 contracts trading so far today, representing approximately 152,000 underlying shares of JBHT. Below is a chart showing JBHT's trailing twelve month trading history, with the $200 strike highlighted in orange:
And Altria Group Inc (Symbol: MO) options are showing a volume of 44,944 contracts thus far today. That number of contracts represents approximately 4.5 million underlying shares, working out to a sizeable 56.2% of MO's average daily trading volume over the past month, of 8.0 million shares. Especially high volume was seen for the $40.50 strike put option expiring December 22, 2023, with 9,999 contracts trading so far today, representing approximately 999,900 underlying shares of MO. Below is a chart showing MO's trailing twelve month trading history, with the $40.50 strike highlighted in orange:
For the various different available expirations for TFC options, JBHT options, or MO options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
CDx3 Weekly Preferred Stock Newsletter
RDUS Average Annual Return
DMC Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $37.50 strike call option expiring February 16, 2024, with 20,034 contracts trading so far today, representing approximately 2.0 million underlying shares of TFC. Particularly high volume was seen for the $200 strike call option expiring January 19, 2024, with 1,520 contracts trading so far today, representing approximately 152,000 underlying shares of JBHT. Especially high volume was seen for the $40.50 strike put option expiring December 22, 2023, with 9,999 contracts trading so far today, representing approximately 999,900 underlying shares of MO.
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Truist Financial Corp (Symbol: TFC), where a total volume of 50,240 contracts has been traded thus far today, a contract volume which is representative of approximately 5.0 million underlying shares (given that every 1 contract represents 100 underlying shares). Especially high volume was seen for the $37.50 strike call option expiring February 16, 2024, with 20,034 contracts trading so far today, representing approximately 2.0 million underlying shares of TFC. Below is a chart showing TFC's trailing twelve month trading history, with the $37.50 strike highlighted in orange: J.B. Hunt Transport Services, Inc. (Symbol: JBHT) saw options trading volume of 3,559 contracts, representing approximately 355,900 underlying shares or approximately 58.3% of JBHT's average daily trading volume over the past month, of 610,350 shares.
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Truist Financial Corp (Symbol: TFC), where a total volume of 50,240 contracts has been traded thus far today, a contract volume which is representative of approximately 5.0 million underlying shares (given that every 1 contract represents 100 underlying shares). Especially high volume was seen for the $37.50 strike call option expiring February 16, 2024, with 20,034 contracts trading so far today, representing approximately 2.0 million underlying shares of TFC. Below is a chart showing TFC's trailing twelve month trading history, with the $37.50 strike highlighted in orange: J.B. Hunt Transport Services, Inc. (Symbol: JBHT) saw options trading volume of 3,559 contracts, representing approximately 355,900 underlying shares or approximately 58.3% of JBHT's average daily trading volume over the past month, of 610,350 shares.
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Especially high volume was seen for the $37.50 strike call option expiring February 16, 2024, with 20,034 contracts trading so far today, representing approximately 2.0 million underlying shares of TFC. That number of contracts represents approximately 4.5 million underlying shares, working out to a sizeable 56.2% of MO's average daily trading volume over the past month, of 8.0 million shares. Below is a chart showing MO's trailing twelve month trading history, with the $40.50 strike highlighted in orange: For the various different available expirations for TFC options, JBHT options, or MO options, visit StockOptionsChannel.com.
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0c612c5e-8b8c-4113-878f-9415f10aaec2
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714489.0
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2023-12-06 00:00:00 UTC
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Daily Dividend Report: PCAR,AWK,PWR,MA,DE
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DCOMP
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https://www.nasdaq.com/articles/daily-dividend-report%3A-pcarawkpwrmade
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nan
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nan
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PACCAR's Board of Directors today declared an extra cash dividend of three dollars and twenty cents per share, payable on January 4, 2024, to stockholders of record at the close of business on December 15, 2023.
American Water Works announced today that its board of directors declared a quarterly cash dividend payment of $0.7075 per share of common stock, payable on March 1, 2024, to all shareholders of record as of February 8, 2024. This quarterly dividend is a continuation of the increase in the annualized dividend approved by the Board and announced in April 2023.
Quanta Services announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.09 per share, or a rate of $0.36 per share on an annualized basis, which represents an approximately 12.5% increase from Quanta's last quarterly cash dividend paid in October 2023. The dividend is payable on January 12, 2024, to stockholders of record as of January 2, 2024.
Mastercard today announced that its Board of Directors has declared a quarterly cash dividend of 66 cents per share, a 16 percent increase over the previous dividend of 57 cents per share. The cash dividend will be paid on February 9, 2024 to holders of record of its Class A common stock and Class B common stock as of January 9, 2024. The Board of Directors also approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock. The new share repurchase program will become effective at the completion of the company's previously announced $9 billion program. As of December 1, 2023, the company had approximately $3.5 billion remaining under the current approved share repurchase program.
The Deere Board of Directors today declared a quarterly dividend of $1.47 per share payable February 8, 2024, to stockholders of record on December 29, 2023. The new quarterly rate represents an additional 12 cents per share over the previous level of $1.35.
VIDEO: Daily Dividend Report: PCAR,AWK,PWR,MA,DE
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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PACCAR's Board of Directors today declared an extra cash dividend of three dollars and twenty cents per share, payable on January 4, 2024, to stockholders of record at the close of business on December 15, 2023. American Water Works announced today that its board of directors declared a quarterly cash dividend payment of $0.7075 per share of common stock, payable on March 1, 2024, to all shareholders of record as of February 8, 2024. The Deere Board of Directors today declared a quarterly dividend of $1.47 per share payable February 8, 2024, to stockholders of record on December 29, 2023.
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Quanta Services announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.09 per share, or a rate of $0.36 per share on an annualized basis, which represents an approximately 12.5% increase from Quanta's last quarterly cash dividend paid in October 2023. Mastercard today announced that its Board of Directors has declared a quarterly cash dividend of 66 cents per share, a 16 percent increase over the previous dividend of 57 cents per share. The Deere Board of Directors today declared a quarterly dividend of $1.47 per share payable February 8, 2024, to stockholders of record on December 29, 2023.
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American Water Works announced today that its board of directors declared a quarterly cash dividend payment of $0.7075 per share of common stock, payable on March 1, 2024, to all shareholders of record as of February 8, 2024. Quanta Services announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.09 per share, or a rate of $0.36 per share on an annualized basis, which represents an approximately 12.5% increase from Quanta's last quarterly cash dividend paid in October 2023. Mastercard today announced that its Board of Directors has declared a quarterly cash dividend of 66 cents per share, a 16 percent increase over the previous dividend of 57 cents per share.
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Quanta Services announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.09 per share, or a rate of $0.36 per share on an annualized basis, which represents an approximately 12.5% increase from Quanta's last quarterly cash dividend paid in October 2023. Mastercard today announced that its Board of Directors has declared a quarterly cash dividend of 66 cents per share, a 16 percent increase over the previous dividend of 57 cents per share. The Deere Board of Directors today declared a quarterly dividend of $1.47 per share payable February 8, 2024, to stockholders of record on December 29, 2023.
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1c9730e9-f16d-4338-bd47-d51b5b710bcc
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714490.0
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2023-12-06 00:00:00 UTC
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Wednesday's ETF with Unusual Volume: NANR
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DCOMP
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https://www.nasdaq.com/articles/wednesdays-etf-with-unusual-volume%3A-nanr
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nan
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The SPDR S&P North American Natural Resources ETF is seeing unusually high volume in afternoon trading Wednesday, with over 135,000 shares traded versus three month average volume of about 27,000. Shares of NANR were off about 1.1% on the day.
Components of that ETF with the highest volume on Wednesday were Exxon Mobil, trading down about 1.9% with over 13.9 million shares changing hands so far this session, and Chevron, down about 0.5% on volume of over 7.9 million shares. Clear Channel Outdoor Holdings is the component faring the best Wednesday, up by about 3.7% on the day, while Canadian Natural Resources is lagging other components of the SPDR S&P North American Natural Resources ETF, trading lower by about 4.5%.
VIDEO: Wednesday's ETF with Unusual Volume: NANR
The views and 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 SPDR S&P North American Natural Resources ETF is seeing unusually high volume in afternoon trading Wednesday, with over 135,000 shares traded versus three month average volume of about 27,000. Components of that ETF with the highest volume on Wednesday were Exxon Mobil, trading down about 1.9% with over 13.9 million shares changing hands so far this session, and Chevron, down about 0.5% on volume of over 7.9 million shares. Clear Channel Outdoor Holdings is the component faring the best Wednesday, up by about 3.7% on the day, while Canadian Natural Resources is lagging other components of the SPDR S&P North American Natural Resources ETF, trading lower by about 4.5%.
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The SPDR S&P North American Natural Resources ETF is seeing unusually high volume in afternoon trading Wednesday, with over 135,000 shares traded versus three month average volume of about 27,000. Clear Channel Outdoor Holdings is the component faring the best Wednesday, up by about 3.7% on the day, while Canadian Natural Resources is lagging other components of the SPDR S&P North American Natural Resources ETF, trading lower by about 4.5%. VIDEO: Wednesday's ETF with Unusual Volume: NANR The views and 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 SPDR S&P North American Natural Resources ETF is seeing unusually high volume in afternoon trading Wednesday, with over 135,000 shares traded versus three month average volume of about 27,000. Components of that ETF with the highest volume on Wednesday were Exxon Mobil, trading down about 1.9% with over 13.9 million shares changing hands so far this session, and Chevron, down about 0.5% on volume of over 7.9 million shares. Clear Channel Outdoor Holdings is the component faring the best Wednesday, up by about 3.7% on the day, while Canadian Natural Resources is lagging other components of the SPDR S&P North American Natural Resources ETF, trading lower by about 4.5%.
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Components of that ETF with the highest volume on Wednesday were Exxon Mobil, trading down about 1.9% with over 13.9 million shares changing hands so far this session, and Chevron, down about 0.5% on volume of over 7.9 million shares. Clear Channel Outdoor Holdings is the component faring the best Wednesday, up by about 3.7% on the day, while Canadian Natural Resources is lagging other components of the SPDR S&P North American Natural Resources ETF, trading lower by about 4.5%. VIDEO: Wednesday's ETF with Unusual Volume: NANR The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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b0addda9-4254-4f22-b778-ce1834566597
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714491.0
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2023-12-06 00:00:00 UTC
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2 Beaten-Down Solar Stocks Due for a Rebound
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DCOMP
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https://www.nasdaq.com/articles/2-beaten-down-solar-stocks-due-for-a-rebound
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nan
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nan
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At the COP28 UN climate summit in Dubai, more than 100 countries have now signed onto a G20-led initiative pledging to triple global installed renewable energy capacity by the end of the decade. Among alternative energy sources, solar remains a top choice, representing about 32% of total global renewable energy output.
And the growth prospects for solar appear bright. According to this report, the global solar power market is projected to clock an impressive CAGR of 14.9% between 2023 and 2032, reaching roughly $678.81 billion over the next decade.
However, solar stocks have underperformed as a group in 2023, pressured by higher interest rates and soaring inflation. The Invesco Solar ETF (TAN), with $1.3 billion in AUM, is off 34% on a year-to-date basis - and with just weeks to go in the year, our two focus solar stocks in this article are currently the worst-performing S&P 500 Index ($SPX) components of 2023.
But amid expectations that interest rates have peaked, these two beaten-down alternative energy names could be due for a turnaround year in 2024.
SolarEdge Technologies
Established in 2006, SolarEdge Technologies (SEDG) is a global leader in smart energy solutions for solar installations. Their core technology is the DC optimizer, which improves efficiency and performance at the module level.
They also provide a range of products and services for residential and commercial solar applications, including inverters, storage solutions, monitoring software, and power optimizers. SolarEdge is a dominant player in the U.S. residential solar PV market, which is expected to grow at a CAGR of 14.4% through 2030.
Currently commanding a market cap of $4.65 billion, SolarEdge stock is down 70% in 2023 so far.
www.barchart.com
Following the sharp downturn, SolarEdge stock is somewhat reasonably valued. The forward price/sales ratio is 1.55, which compares favorably to many of its industry peers.
SolarEdge reported a mixed third quarter, as EPS fell short of Wall Street's forecast, while revenues managed to surpass the consensus. Specifically, Q3 revenues fell 27% from the previous year to $725.3 million, edging past the average analyst forecast despite stubbornly high inventory levels, especially in Europe.
However, the company unexpectedly swung to a quarterly loss, defying expectations for a profitable quarter. SolarEdge had reported an EPS of $0.91 in the prior year.
Overall, analysts have deemed the stock a “Moderate Buy” with a mean target price of $103.28. This represents an upside potential of about 24% from current levels. Out of 27 analysts covering the stock, eight have a “Strong Buy” rating, one has a “Moderate Buy” rating, 17 have a “Hold” rating, and one has a “Moderate Sell” rating.
www.barchart.com
Enphase Energy
Enphase Energy (ENPH) is a global energy technology company that designs, develops, manufactures, and sells microinverters, battery storage systems, and software solutions for residential solar photovoltaic (PV) systems. Touted as one of the world's leading suppliers of microinverters, Enphase's market cap currently stands at $15.02 billion.
The microinverters market is expected to expand at a CAGR of 19.7% through 2028. Although microinverters cost more to the consumer, increased adoption is driven by module-level monitoring, easier installation, enhanced design flexibility, removing the need for DC switching points, and better safety than conventional inverters.
Enphase stock is down 58% on a YTD basis to lag the broader solar group.
www.barchart.com
Enphase's results for Q3 2023 included a beat on EPS, even as the top-line results fell short of estimates. Revenues declined by 13.2% from the previous year to $551.1 million, as a slowdown in the European market pressured results. EPS fell 18.4% to $1.02, edging past the consensus estimate of $1.01.
When it comes to its balance sheet, Enphase ended the quarter with a cash position of $1.78 billion and $1.2 billion in debt.
During the quarter, Enphase Energy initiated manufacturing at its Salcomp facility in Arlington, Texas. This, along with contributions from its three U.S. contract manufacturers, resulted in a total shipment of 531,000 microinverters. Management anticipates this figure will roughly double in Q4 as domestic production capacity ramps up. Moreover, the company's strategic decision to begin battery manufacturing in the U.S. by mid-2024 will further unlock IRA incentives and contribute to sustained profitability.
Overall, analysts have a rating of “Moderate Buy” for the stock, with a mean target price of $114.31 - indicating an upside potential of about 5% from current levels. Out of 30 analysts covering ENPH, 14 have a “Strong Buy” rating, three have a “Moderate Buy” rating, 12 have a “Hold” rating, and one has a “Moderate Sell” rating.
www.barchart.com
On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They also provide a range of products and services for residential and commercial solar applications, including inverters, storage solutions, monitoring software, and power optimizers. Specifically, Q3 revenues fell 27% from the previous year to $725.3 million, edging past the average analyst forecast despite stubbornly high inventory levels, especially in Europe. Although microinverters cost more to the consumer, increased adoption is driven by module-level monitoring, easier installation, enhanced design flexibility, removing the need for DC switching points, and better safety than conventional inverters.
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They also provide a range of products and services for residential and commercial solar applications, including inverters, storage solutions, monitoring software, and power optimizers. www.barchart.com Enphase Energy Enphase Energy (ENPH) is a global energy technology company that designs, develops, manufactures, and sells microinverters, battery storage systems, and software solutions for residential solar photovoltaic (PV) systems. Out of 30 analysts covering ENPH, 14 have a “Strong Buy” rating, three have a “Moderate Buy” rating, 12 have a “Hold” rating, and one has a “Moderate Sell” rating.
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Out of 27 analysts covering the stock, eight have a “Strong Buy” rating, one has a “Moderate Buy” rating, 17 have a “Hold” rating, and one has a “Moderate Sell” rating. www.barchart.com Enphase Energy Enphase Energy (ENPH) is a global energy technology company that designs, develops, manufactures, and sells microinverters, battery storage systems, and software solutions for residential solar photovoltaic (PV) systems. Out of 30 analysts covering ENPH, 14 have a “Strong Buy” rating, three have a “Moderate Buy” rating, 12 have a “Hold” rating, and one has a “Moderate Sell” rating.
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SolarEdge Technologies Established in 2006, SolarEdge Technologies (SEDG) is a global leader in smart energy solutions for solar installations. Currently commanding a market cap of $4.65 billion, SolarEdge stock is down 70% in 2023 so far. www.barchart.com Enphase Energy Enphase Energy (ENPH) is a global energy technology company that designs, develops, manufactures, and sells microinverters, battery storage systems, and software solutions for residential solar photovoltaic (PV) systems.
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390fc761-fe3c-44ef-a148-192dc0df1568
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714492.0
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2023-12-06 00:00:00 UTC
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Bull vs. Bear: ESG ETFs, the Post-Hype Sleeper?
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DCOMP
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https://www.nasdaq.com/articles/bull-vs.-bear%3A-esg-etfs-the-post-hype-sleeper
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nan
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nan
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Bull vs. Bear is a weekly feature where the VettaFi writers’ room takes opposite sides to debate controversial stocks, strategies, or market ideas — with plenty of discussion of ETF ideas to play either angle. For this edition of Bull vs. Bear, Nick Peters-Golden and James Comtois debate whether ESG ETFs can bounce back after a rough 2023.
Nick Peters-Golden, staff writer, VettaFi: Hi James, I hope you’re having a nice week. For this edition of Bull vs. Bear, I hope you can allow me a bit of an extended metaphor from my countless hours spent on Fantasy Premier League: the post-hype sleeper.
Fantasy sports fans from football to soccer know the feeling: You snag a top draft pick and grab that exciting rookie or hot free agent who everyone is hyping up, only to see them fall flat on their faces. When it comes time to redraft for the next season, the consensus opinion of the player has changed, and an exciting prospect has instead become a disappointment to avoid.
That’s where smart players can profit by actually doing the work of seeing whether the new narrative is justified. That’s where you can find post-hype sleepers, great opportunities that others still see as disappointments, and my friend, I’m here today to argue that ESG ETFs are a strong contender to be a post-hype sleeper in the ETF landscape next year.
ESG Could Still Be a Contender
Let’s get the lay of the land in ESG, then, to see why this is a post-hype sleeper pick. First off, while investors have seemed disinterested in ESG strategies this year, there are several ESG ETFs that have done well. The iShares ESG Aware MSCI USA ETF (ESGU) has returned 21% YTD, per VettaFi data, for just a 15 basis point fee.
Yes, ESGU has seen a lot of outflows. That normally would indicate some amount of lost faith among investors. However, ESGU also sits in iShares’ model portfolios, with the firm’s maneuvering into quality this year likely responsible for the bulk of those flows.
Intriguingly, ESGU has done well longer term, too, returning 12.5% over the last five years and outperforming its ETF Database Category Average and FactSet Segment Average.
Active ESG ETFs did well, too. The WisdomTree International ESG Fund (RESD) actively invests with an ESG mandate, returning 15.6% YTD for a 30 bps fee.
Putting a bow on this is the S&P 500 ESG Index (SPXESG) which has returned 22.6% YTD, per YCharts, as of December 5. That’s actually “better” than the SPDR S&P 500 ETF Trust (SPY).
[caption id="attachment_549001" align="aligncenter" width="628"] Per YCharts, the ESG S&P 500 index has outperformed SPY YTD.[/caption]
But how does ESG look moving forward? High interest rates have weighed heavily on ESG stocks and ETFs. Firms that ESG strategies like — renewable energy, tech firms — have felt the pain.
However, if we do see the rate “cuts” that are increasingly dominating the headlines — perhaps as early as next year — ESG ETFs would benefit. Those like the iShares Climate Conscious & Transition MSCI USA ETF (USCL) focus on the energy transition itself. Investors might take a rate cut as an opportunity to dive back into renewable energy stocks that could benefit significantly from it.
Lack of Definition
James Comtois, staff writer, VettaFi: Greetings, Nick! Great to be back on the battlefield of ideas with you once again, this time mulling over the validity of ESG funds. While I won’t ever naysay the importance or value of environmental or socially responsible investing, I’m not sure ESG funds are the way to go.
For one thing, there’s still a lack of specific reporting standards. The lack of a unified reporting standard has led to multiple sustainability reporting frameworks. This makes it difficult, if not impossible, to define what even qualifies as an ESG fund.
According to a study from the International Federation of Accountants and the Association of International Certified Professional Accountants, “significant hurdles remain when it comes to providing consistent, comparable, and high-quality sustainability information for investors and lenders.”
This absence of standardized reporting poses a significant challenge for investors. And the disparate sustainability metrics hamstring investors’ ability to compare and contrast performance. Where does an investor even begin?
Plus, this lack of definition opens the door for greenwashing (much more on this later).
So, while I am all for environmentally conscious investing, the lack of universal guidelines makes it unclear as to what even constitutes an ESG fund.
See more: "Progress Emerging Regarding ESG Reporting"
Defining the ESG in ESG ETFs
Peters-Golden: One aspect of ESG that I think gets lost is that this isn’t even ESG’s final form. We’re not just talking about the firms in which your standard ESG fund would invest. As one great piece published in June put it, ESG investing isn’t dead, it’s just growing up, so to speak.
So, yes, there are issues with clear, universal guidelines. However, they're being worked out and — once they are — can really unlock a positive future for the space The ongoing process of government and nongovernmental organizations attempting to pin down what “ESG” really means, and what its purpose as a set of standards should be, impacts ESG investing. However, it also adds bureaucracy, complication, and other barriers that limit the efficiency of ESG investing.
ESG in Transition
I pinged VettaFi’s Financial Futurist Dave Nadig to share his thoughts on the state of play surrounding ESG indexes.
“I think ESG is in transition. There's little question there's institutional demand. Retail demand inside the U.S. has largely flagged,” he said. “But ESG is a global phenomenon that is going to do continue to be driven by institutions, and institutions generally prefer indexing over picking hot hands for the obvious predictability and control reasoning.”
“Increasingly, however, I suspect we'll see mandates that tease out things much more specifically,” Nadig added. “Climate-centered investing doesn't necessarily have a darn thing to do with anti-corruption-based investing (the G). Focusing on positive labor market dynamics or specific social justice issues are radically different, yet still get lumped under the ‘S’.”
“So what’s changing is the idea that 'ESG' can be a monolithic factor like 'momentum.' It never was, and any marketing claiming such was just silly. What's really happening is the smartening up of the investor base," he concluded.
The Exchange ETF conference in Miami this February will see a further discussion on defining ESG, including folks from Morningstar, so curious readers may want to check out Exchange. For right now, however, I think Dave adds some needed perspective. An overwhelming amount of the ESG discourse focuses on the “E” alone. That should tell us that it’s a bit of an antiquated acronym. But rather than let that bog ESG down, I think it tells us that, with some needed retooling, the E, S, and G can thrive.
See more: "Capitalize on the Surge in Solar Energy With TAN"
Just Bog-Standard Large-Cap Funds
Comtois: While I do think ESG can thrive, if given the right care and attention, I don't think we're there yet. The landscape still seems a bit lawless.
Now then. Let’s get to the greenwashing. Simply put, a lot of popular ESG funds simply aren’t ESG funds.
Let’s look at the top holdings of the SPDR S&P 500 ESG ETF (EFIV). Five of the six top holdings are simply FAANG stocks. One could argue it’s just a bog-standard large-cap fund. What’s so ESG about that?
(Another major holding is Tesla, and hoooo boy, we’ve done an entire Bull vs. Bear on that company, which has had a… let’s call it tumultuous… relationship with the S&P 500 ESG Index).
Plus, look at how many so-called ESG funds have ExxonMobil (XOM) as one of their top holdings. I can’t say I’m impressed.
So, rather than invest in generic large-cap funds calling themselves ESG, why not target more focused energy-transition funds? The Invesco Solar ETF (TAN), for example, delivers targeted exposure to the solar energy industry. It has a much more targeted mandate than just a vague ESG focus. Plus, its holdings aren’t just Apple or Microsoft, both of which have dubious claims to sustainability (more on that later).
The Kids Are (and Will Be) All Right
Peters-Golden: Dave noted that retail interest has dipped for ESG. That comes with a down year. Still, the promise of ESG does not lie in year-to-year ups and downs. ESG is a long-term investment idea tied to an even longer time frame in which younger, more ESG-minded generations start to seriously invest. That idea has focused on millennials, of course, but subsequent generations -- Gen Z and Gen Alpha investors -- also care about the environment and conscious investing.
Nearly two-thirds of Gen Z investors are interested in making portfolio allocations to match their beliefs outside of investing. That’s actually more than the percentage of millennials, with 59% of that cohort looking to invest to support certain causes. However, 80% of both Gen Z and millennials would be willing to even take “reduced returns” to invest in firms that also invest with certain views, including ESG.
That represents a long-term opportunity in ESG. Now think about how huge swaths of the American public don’t really even know about ESG. Younger generations, particularly, aren’t really thinking about investing, either. The right awareness campaign could see ESG ETFs become a hot trend similar in type, but of course not degree, to thematic ETFs in areas like crypto or marijuana.
Other investors may have some doubt about the idea that generational change will ride in and win the day for ESG. Investing isn’t the only area that has long promised sweeping change, because a new age group with a completely different set of preferences takes a prominent role. However, combined with the above factors, i.e., rate cuts and a clearer set of rules for ESG, ESG ETFs could really bounce back next year.
ESG Scoring: Is It All Just a Sham?
Comtois: Yes, a lot of younger investors want to invest in ESG. That’s great! But what’s not so great? They’re being misled.
NYU Professor Hans Taparia described ESG investing as “a sham” that “falsely lead[s] many investors to believe their portfolios are doing good for the world.”
A big issue comes from the ratings agencies. Investment managers rely on the likes of S&P and MSCI to construct their ESG indexes. But according to Taparia, these agencies aren’t scoring companies based on how environmentally conscious or socially responsible they are. Rather, they’re measuring how much potential harm ESG factors like carbon emissions have on their financial performance. Those aren’t the same thing.
This scoring system makes it far too easy for companies to be considered ESG-friendly. In fact, most stocks in the S&P 500 (90%) can be found in an ESG fund built with MSCI ratings. And when you see companies like McDonald’s, Coca-Cola, and Pepsi receive high ESG scores, what are we even doing here?
Now, don’t misunderstand me: I believe this is a very important issue. We should all be working toward decarbonization before it’s too late. And if investors can contribute to achieving that goal with their portfolios, I am all for it. But from where I sit, many of these ESG funds are just a placebo and aren’t helping accomplish this objective.
And on that cheery note, until next time, Nick!
Peters-Golden: Until then!
For more news, information, and analysis, visit the Innovative ETFs 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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Fantasy sports fans from football to soccer know the feeling: You snag a top draft pick and grab that exciting rookie or hot free agent who everyone is hyping up, only to see them fall flat on their faces. Focusing on positive labor market dynamics or specific social justice issues are radically different, yet still get lumped under the ‘S’.” “So what’s changing is the idea that 'ESG' can be a monolithic factor like 'momentum.' NYU Professor Hans Taparia described ESG investing as “a sham” that “falsely lead[s] many investors to believe their portfolios are doing good for the world.” A big issue comes from the ratings agencies.
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Bull vs. Bear is a weekly feature where the VettaFi writers’ room takes opposite sides to debate controversial stocks, strategies, or market ideas — with plenty of discussion of ETF ideas to play either angle. For this edition of Bull vs. Bear, Nick Peters-Golden and James Comtois debate whether ESG ETFs can bounce back after a rough 2023. The iShares ESG Aware MSCI USA ETF (ESGU) has returned 21% YTD, per VettaFi data, for just a 15 basis point fee.
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First off, while investors have seemed disinterested in ESG strategies this year, there are several ESG ETFs that have done well. See more: "Progress Emerging Regarding ESG Reporting" Defining the ESG in ESG ETFs Peters-Golden: One aspect of ESG that I think gets lost is that this isn’t even ESG’s final form. Simply put, a lot of popular ESG funds simply aren’t ESG funds.
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That’s where you can find post-hype sleepers, great opportunities that others still see as disappointments, and my friend, I’m here today to argue that ESG ETFs are a strong contender to be a post-hype sleeper in the ETF landscape next year. What’s so ESG about that? So, rather than invest in generic large-cap funds calling themselves ESG, why not target more focused energy-transition funds?
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90524f79-94c9-4578-a418-9e420139e49f
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714493.0
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2023-12-06 00:00:00 UTC
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Huge News for Asana, and Investors Aren't Happy
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DCOMP
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https://www.nasdaq.com/articles/huge-news-for-asana-and-investors-arent-happy
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nan
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nan
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Asana (NYSE: ASAN) reported quarterly results on Wednesday, and the market didn't like the trends in the business. Not only is the work management software company still losing money, growth is slowing to a crawl, and customers seem to be reducing their spend.
In this video, Travis Hoium covers Asana's trends and shows why this stock still isn't a great buy, despite its product being a customer favorite.
*Stock prices used were end-of-day prices of Dec. 6, 2023. The video was published on Dec. 6, 2023.
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Travis Hoium has positions in Asana. The Motley Fool has positions in and recommends Asana. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Asana (NYSE: ASAN) reported quarterly results on Wednesday, and the market didn't like the trends in the business. Not only is the work management software company still losing money, growth is slowing to a crawl, and customers seem to be reducing their spend. In this video, Travis Hoium covers Asana's trends and shows why this stock still isn't a great buy, despite its product being a customer favorite.
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In this video, Travis Hoium covers Asana's trends and shows why this stock still isn't a great buy, despite its product being a customer favorite. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Travis Hoium has positions in Asana.
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In this video, Travis Hoium covers Asana's trends and shows why this stock still isn't a great buy, despite its product being a customer favorite. 10 stocks we like better than Asana When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Travis Hoium has positions in Asana.
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In this video, Travis Hoium covers Asana's trends and shows why this stock still isn't a great buy, despite its product being a customer favorite. See the 10 stocks *Stock Advisor returns as of December 4, 2023 Travis Hoium has positions in Asana. Their opinions remain their own and are unaffected by The Motley Fool.
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09aa6a5f-6f1a-499d-89ef-faaa60a4d402
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714494.0
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2023-12-06 00:00:00 UTC
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3 Reasons Why Growth Investors Shouldn't Overlook Abercrombie (ANF)
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DCOMP
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https://www.nasdaq.com/articles/3-reasons-why-growth-investors-shouldnt-overlook-abercrombie-anf-0
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nan
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nan
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Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.
In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Abercrombie & Fitch (ANF) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this teen clothing retailer a great growth pick right now.
Earnings Growth
Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Abercrombie is 8.9%, investors should actually focus on the projected growth. The company's EPS is expected to grow 2205.6% this year, crushing the industry average, which calls for EPS growth of -6%.
Impressive Asset Utilization Ratio
Growth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric shows how efficiently a firm is utilizing its assets to generate sales.
Right now, Abercrombie has an S/TA ratio of 1.47, which means that the company gets $1.47 in sales for each dollar in assets. Comparing this to the industry average of 1.31, it can be said that the company is more efficient.
In addition to efficiency in generating sales, sales growth plays an important role. And Abercrombie looks attractive from a sales growth perspective as well. The company's sales are expected to grow 12.7% this year versus the industry average of 0%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for Abercrombie have been revising upward. The Zacks Consensus Estimate for the current year has surged 29.8% over the past month.
Bottom Line
While the overall earnings estimate revisions have made Abercrombie a Zacks Rank #1 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that Abercrombie is a potential outperformer and a solid choice for growth investors.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
|
Impressive Asset Utilization Ratio Growth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. Bottom Line While the overall earnings estimate revisions have made Abercrombie a Zacks Rank #1 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above. Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report To read this article on Zacks.com click here.
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However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration. Impressive Asset Utilization Ratio Growth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock.
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This metric shows how efficiently a firm is utilizing its assets to generate sales. Promising Earnings Estimate Revisions Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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4b930c4b-a7ca-4844-b2e8-461dcdfabca7
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714495.0
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2023-12-06 00:00:00 UTC
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Noteworthy Wednesday Option Activity: MSFT, WFC, KMB
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-msft-wfc-kmb
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nan
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nan
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Microsoft Corporation (Symbol: MSFT), where a total of 204,026 contracts have traded so far, representing approximately 20.4 million underlying shares. That amounts to about 73.9% of MSFT's average daily trading volume over the past month of 27.6 million shares. Particularly high volume was seen for the $375 strike call option expiring December 08, 2023, with 18,954 contracts trading so far today, representing approximately 1.9 million underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $375 strike highlighted in orange:
Wells Fargo & Co (Symbol: WFC) saw options trading volume of 102,517 contracts, representing approximately 10.3 million underlying shares or approximately 67.7% of WFC's average daily trading volume over the past month, of 15.2 million shares. Particularly high volume was seen for the $55 strike put option expiring January 19, 2024, with 37,002 contracts trading so far today, representing approximately 3.7 million underlying shares of WFC. Below is a chart showing WFC's trailing twelve month trading history, with the $55 strike highlighted in orange:
And Kimberly-Clark Corp. (Symbol: KMB) options are showing a volume of 11,010 contracts thus far today. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 65.6% of KMB's average daily trading volume over the past month, of 1.7 million shares. Especially high volume was seen for the $124 strike call option expiring December 08, 2023, with 5,005 contracts trading so far today, representing approximately 500,500 underlying shares of KMB. Below is a chart showing KMB's trailing twelve month trading history, with the $124 strike highlighted in orange:
For the various different available expirations for MSFT options, WFC options, or KMB options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
NVX shares outstanding history
CRS Stock Predictions
SINT Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $375 strike call option expiring December 08, 2023, with 18,954 contracts trading so far today, representing approximately 1.9 million underlying shares of MSFT. Particularly high volume was seen for the $55 strike put option expiring January 19, 2024, with 37,002 contracts trading so far today, representing approximately 3.7 million underlying shares of WFC. Especially high volume was seen for the $124 strike call option expiring December 08, 2023, with 5,005 contracts trading so far today, representing approximately 500,500 underlying shares of KMB.
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Particularly high volume was seen for the $375 strike call option expiring December 08, 2023, with 18,954 contracts trading so far today, representing approximately 1.9 million underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $375 strike highlighted in orange: Wells Fargo & Co (Symbol: WFC) saw options trading volume of 102,517 contracts, representing approximately 10.3 million underlying shares or approximately 67.7% of WFC's average daily trading volume over the past month, of 15.2 million shares. Below is a chart showing WFC's trailing twelve month trading history, with the $55 strike highlighted in orange: And Kimberly-Clark Corp. (Symbol: KMB) options are showing a volume of 11,010 contracts thus far today.
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Microsoft Corporation (Symbol: MSFT), where a total of 204,026 contracts have traded so far, representing approximately 20.4 million underlying shares. Below is a chart showing MSFT's trailing twelve month trading history, with the $375 strike highlighted in orange: Wells Fargo & Co (Symbol: WFC) saw options trading volume of 102,517 contracts, representing approximately 10.3 million underlying shares or approximately 67.7% of WFC's average daily trading volume over the past month, of 15.2 million shares. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 65.6% of KMB's average daily trading volume over the past month, of 1.7 million shares.
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Particularly high volume was seen for the $375 strike call option expiring December 08, 2023, with 18,954 contracts trading so far today, representing approximately 1.9 million underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $375 strike highlighted in orange: Wells Fargo & Co (Symbol: WFC) saw options trading volume of 102,517 contracts, representing approximately 10.3 million underlying shares or approximately 67.7% of WFC's average daily trading volume over the past month, of 15.2 million shares. Below is a chart showing KMB's trailing twelve month trading history, with the $124 strike highlighted in orange: For the various different available expirations for MSFT options, WFC options, or KMB options, visit StockOptionsChannel.com.
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9ffb9498-43bb-4351-8cff-dee4ea62b66d
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714496.0
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2023-12-06 00:00:00 UTC
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Is DexCom (DXCM) a Solid Growth Stock? 3 Reasons to Think "Yes"
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DCOMP
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https://www.nasdaq.com/articles/is-dexcom-dxcm-a-solid-growth-stock-3-reasons-to-think-yes-0
|
nan
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nan
|
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.
In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
DexCom (DXCM) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this medical device company a great growth pick right now.
Earnings Growth
Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for DexCom is 49.1%, investors should actually focus on the projected growth. The company's EPS is expected to grow 65.2% this year, crushing the industry average, which calls for EPS growth of 11.2%.
Cash Flow Growth
While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.
Right now, year-over-year cash flow growth for DexCom is 37.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of 7.7%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 75.9% over the past 3-5 years versus the industry average of 7%.
Promising Earnings Estimate Revisions
Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for DexCom have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.9% over the past month.
Bottom Line
DexCom has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that DexCom is a potential outperformer and a solid choice for growth investors.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
DexCom, Inc. (DXCM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
|
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Click to get this free report DexCom, Inc. (DXCM) : Free Stock Analysis Report To read this article on Zacks.com click here.
|
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration. Cash Flow Growth While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies.
|
Earnings Growth Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. The company's annualized cash flow growth rate has been 75.9% over the past 3-5 years versus the industry average of 7%. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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58422687-0b5b-4be1-95b6-43b58201f029
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714497.0
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2023-12-06 00:00:00 UTC
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3 Reasons Why Growth Investors Shouldn't Overlook Arcos Dorados (ARCO)
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DCOMP
|
https://www.nasdaq.com/articles/3-reasons-why-growth-investors-shouldnt-overlook-arcos-dorados-arco
|
nan
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nan
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Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Arcos Dorados (ARCO) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
While there are numerous reasons why the stock of this restaurant owner is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings Growth
Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Arcos Dorados is 38%, investors should actually focus on the projected growth. The company's EPS is expected to grow 18.8% this year, crushing the industry average, which calls for EPS growth of 17.9%.
Impressive Asset Utilization Ratio
Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric shows how efficiently a firm is utilizing its assets to generate sales.
Right now, Arcos Dorados has an S/TA ratio of 1.52, which means that the company gets $1.52 in sales for each dollar in assets. Comparing this to the industry average of 0.94, it can be said that the company is more efficient.
In addition to efficiency in generating sales, sales growth plays an important role. And Arcos Dorados is well positioned from a sales growth perspective too. The company's sales are expected to grow 19.3% this year versus the industry average of 5.4%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for Arcos Dorados have been revising upward. The Zacks Consensus Estimate for the current year has surged 9.3% over the past month.
Bottom Line
While the overall earnings estimate revisions have made Arcos Dorados a Zacks Rank #1 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that Arcos Dorados is a potential outperformer and a solid choice for growth investors.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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
Arcos Dorados Holdings Inc. (ARCO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Zacks Reveals ChatGPT "Sleeper" Stock One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys."
|
Impressive Asset Utilization Ratio Asset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. Bottom Line While the overall earnings estimate revisions have made Arcos Dorados a Zacks Rank #1 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
|
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects. While there are numerous reasons why the stock of this restaurant owner is a great growth pick right now, we have highlighted three of the most important factors below: Earnings Growth Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. Bottom Line While the overall earnings estimate revisions have made Arcos Dorados a Zacks Rank #1 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.
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And Arcos Dorados is well positioned from a sales growth perspective too. Promising Earnings Estimate Revisions Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. Download Free ChatGPT Stock Report Right Now >> Want the latest recommendations from Zacks Investment Research?
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82bffd47-de7b-408e-a652-d4efbc76978f
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714498.0
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2023-12-06 00:00:00 UTC
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Why CVS Health Stock Rallied Wednesday Morning
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DCOMP
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https://www.nasdaq.com/articles/why-cvs-health-stock-rallied-wednesday-morning
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nan
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nan
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Shares of CVS Health (NYSE: CVS) rallied out of the gate on Wednesday morning, adding as much as 4.7%. As of 12:14 p.m. ET, the stock was still up 3.3%.
The catalyst that sent the healthcare giant higher was bullish takes from a trio of Wall Street analysts.
Bullish consensus is growing
In the wake of the company's investor day on Tuesday, analysts are more bullish on the future prospects and the growing opportunity for CVS.
First up was J.P. Morgan analyst Lisa Gill, who is now more optimistic. While the company provided conservative guidance with respect to its long-term outlook, Gill saw "ample upside opportunities." The analyst highlighted the introduction of CVS CostVantage -- which will overhaul the way the company prices prescriptions to provide greater transparency. Gill believes this will offset "long-term pharmacy reimbursement headwinds."
Analysts from Piper Sandler were even more enthusiastic, maintaining an overweight rating while increasing their price target to $85, or potential upside for investors of 20% compared to Tuesday's closing price. The analysts noted management's more positive outlook, with its profit prospects at "achievable levels."
Finally, Evercore ISI analyst Elizabeth Anderson maintained her overweight rating and raised her price target on CVS Health to $85 from $80. Anderson also noted the company's conservative forecast, which suggests 6% earnings-per-share growth, with the potential for "upside from a variety of areas."
Is CVS stock a buy?
The market rally has been brutally uneven this year, and investors need look no further than CVS for an example. The stock has fallen 21% thus far in 2023 as investors digested the loss of a big customer and what that means for the company's future.
It remains to be seen if the rest of the industry will follow CVS' example, but given the increased scrutiny of drug prices and oversight in the industry, it's a step in the right direction.
Finally, CVS stock is remarkably cheap, currently selling for just 8 times forward earnings, a significant discount to the price-to-earnings ratio of the healthcare services industry of 15. Add to that its recently increased dividend, currently yielding 3.75%, and it's easy to see why CVS stock is a buy for investors looking for a solid combination of stable growth and income.
10 stocks we like better than CVS Health
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 CVS Health 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
JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Danny Vena has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends CVS Health. 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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Finally, Evercore ISI analyst Elizabeth Anderson maintained her overweight rating and raised her price target on CVS Health to $85 from $80. Finally, CVS stock is remarkably cheap, currently selling for just 8 times forward earnings, a significant discount to the price-to-earnings ratio of the healthcare services industry of 15. Add to that its recently increased dividend, currently yielding 3.75%, and it's easy to see why CVS stock is a buy for investors looking for a solid combination of stable growth and income.
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Bullish consensus is growing In the wake of the company's investor day on Tuesday, analysts are more bullish on the future prospects and the growing opportunity for CVS. Analysts from Piper Sandler were even more enthusiastic, maintaining an overweight rating while increasing their price target to $85, or potential upside for investors of 20% compared to Tuesday's closing price. Finally, Evercore ISI analyst Elizabeth Anderson maintained her overweight rating and raised her price target on CVS Health to $85 from $80.
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Bullish consensus is growing In the wake of the company's investor day on Tuesday, analysts are more bullish on the future prospects and the growing opportunity for CVS. 10 stocks we like better than CVS Health When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of December 4, 2023 JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company.
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ET, the stock was still up 3.3%. While the company provided conservative guidance with respect to its long-term outlook, Gill saw "ample upside opportunities." The Motley Fool recommends CVS Health.
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6d44c603-e328-4b64-bdeb-256576ef8344
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714499.0
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2023-12-06 00:00:00 UTC
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Wednesday's ETF Movers: LIT, OIH
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DCOMP
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https://www.nasdaq.com/articles/wednesdays-etf-movers%3A-lit-oih
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nan
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nan
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In trading on Wednesday, the Lithium ETF is outperforming other ETFs, up about 3.6% on the day. Components of that ETF showing particular strength include shares of Albemarle, up about 5.3% and shares of Lithium Americas, up about 4% on the day.
And underperforming other ETFs today is the Oil Services ETF, down about 2.9% in Wednesday afternoon trading. Among components of that ETF with the weakest showing on Wednesday were shares of Technipfmc, lower by about 5.4%, and shares of Transocean, lower by about 5.3% on the day.
VIDEO: Wednesday's ETF Movers: LIT, OIH
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF showing particular strength include shares of Albemarle, up about 5.3% and shares of Lithium Americas, up about 4% on the day. Among components of that ETF with the weakest showing on Wednesday were shares of Technipfmc, lower by about 5.4%, and shares of Transocean, lower by about 5.3% on the day. VIDEO: Wednesday's ETF Movers: LIT, OIH The views and 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 trading on Wednesday, the Lithium ETF is outperforming other ETFs, up about 3.6% on the day. Among components of that ETF with the weakest showing on Wednesday were shares of Technipfmc, lower by about 5.4%, and shares of Transocean, lower by about 5.3% on the day. VIDEO: Wednesday's ETF Movers: LIT, OIH The views and 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 trading on Wednesday, the Lithium ETF is outperforming other ETFs, up about 3.6% on the day. Components of that ETF showing particular strength include shares of Albemarle, up about 5.3% and shares of Lithium Americas, up about 4% on the day. Among components of that ETF with the weakest showing on Wednesday were shares of Technipfmc, lower by about 5.4%, and shares of Transocean, lower by about 5.3% on the day.
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In trading on Wednesday, the Lithium ETF is outperforming other ETFs, up about 3.6% on the day. Components of that ETF showing particular strength include shares of Albemarle, up about 5.3% and shares of Lithium Americas, up about 4% on the day. VIDEO: Wednesday's ETF Movers: LIT, OIH The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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