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715000.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: ETRN, NOC, SLG
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-etrn-noc-slg
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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 Equitrans Midstream Corp (Symbol: ETRN), where a total of 14,323 contracts have traded so far, representing approximately 1.4 million underlying shares. That amounts to about 46.5% of ETRN's average daily trading volume over the past month of 3.1 million shares. Especially high volume was seen for the $10 strike put option expiring December 15, 2023, with 3,509 contracts trading so far today, representing approximately 350,900 underlying shares of ETRN. Below is a chart showing ETRN's trailing twelve month trading history, with the $10 strike highlighted in orange:
Northrop Grumman Corp (Symbol: NOC) saw options trading volume of 3,307 contracts, representing approximately 330,700 underlying shares or approximately 46.4% of NOC's average daily trading volume over the past month, of 713,265 shares. Particularly high volume was seen for the $480 strike call option expiring January 19, 2024, with 293 contracts trading so far today, representing approximately 29,300 underlying shares of NOC. Below is a chart showing NOC's trailing twelve month trading history, with the $480 strike highlighted in orange:
And SL Green Realty Corp (Symbol: SLG) options are showing a volume of 7,716 contracts thus far today. That number of contracts represents approximately 771,600 underlying shares, working out to a sizeable 46.4% of SLG's average daily trading volume over the past month, of 1.7 million shares. Especially high volume was seen for the $47.50 strike call option expiring January 19, 2024, with 1,073 contracts trading so far today, representing approximately 107,300 underlying shares of SLG. Below is a chart showing SLG's trailing twelve month trading history, with the $47.50 strike highlighted in orange:
For the various different available expirations for ETRN options, NOC options, or SLG options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Cheap Energy Stocks
Institutional Holders of FMSA
SYNA YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $10 strike put option expiring December 15, 2023, with 3,509 contracts trading so far today, representing approximately 350,900 underlying shares of ETRN. Particularly high volume was seen for the $480 strike call option expiring January 19, 2024, with 293 contracts trading so far today, representing approximately 29,300 underlying shares of NOC. Especially high volume was seen for the $47.50 strike call option expiring January 19, 2024, with 1,073 contracts trading so far today, representing approximately 107,300 underlying shares of SLG.
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Below is a chart showing ETRN's trailing twelve month trading history, with the $10 strike highlighted in orange: Northrop Grumman Corp (Symbol: NOC) saw options trading volume of 3,307 contracts, representing approximately 330,700 underlying shares or approximately 46.4% of NOC's average daily trading volume over the past month, of 713,265 shares. Particularly high volume was seen for the $480 strike call option expiring January 19, 2024, with 293 contracts trading so far today, representing approximately 29,300 underlying shares of NOC. Especially high volume was seen for the $47.50 strike call option expiring January 19, 2024, with 1,073 contracts trading so far today, representing approximately 107,300 underlying shares of SLG.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Equitrans Midstream Corp (Symbol: ETRN), where a total of 14,323 contracts have traded so far, representing approximately 1.4 million underlying shares. Below is a chart showing ETRN's trailing twelve month trading history, with the $10 strike highlighted in orange: Northrop Grumman Corp (Symbol: NOC) saw options trading volume of 3,307 contracts, representing approximately 330,700 underlying shares or approximately 46.4% of NOC's average daily trading volume over the past month, of 713,265 shares. Especially high volume was seen for the $47.50 strike call option expiring January 19, 2024, with 1,073 contracts trading so far today, representing approximately 107,300 underlying shares of SLG.
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Below is a chart showing ETRN's trailing twelve month trading history, with the $10 strike highlighted in orange: Northrop Grumman Corp (Symbol: NOC) saw options trading volume of 3,307 contracts, representing approximately 330,700 underlying shares or approximately 46.4% of NOC's average daily trading volume over the past month, of 713,265 shares. Particularly high volume was seen for the $480 strike call option expiring January 19, 2024, with 293 contracts trading so far today, representing approximately 29,300 underlying shares of NOC. Below is a chart showing SLG's trailing twelve month trading history, with the $47.50 strike highlighted in orange: For the various different available expirations for ETRN options, NOC options, or SLG options, visit StockOptionsChannel.com.
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7b01e9ef-ef5e-47f7-b3e3-d701f68de118
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715001.0
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2023-12-01 00:00:00 UTC
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Why Paramount Global Stock Soared 9% Higher on Friday
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DCOMP
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https://www.nasdaq.com/articles/why-paramount-global-stock-soared-9-higher-on-friday
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nan
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nan
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A potential collaboration with a major tech company sent Paramount Global's (NASDAQ: PARA) stock skyward on the last trading day of the week. The storied entertainment company's share price improved by 9% during the session, easily trouncing the 0.6% gain of the S&P 500 index on the day.
Paramount+ and Apple TV+ bundling talks
Friday morning, The Wall Street Journal reported that Paramount and Apple (NASDAQ: AAPL) are in talks about bundling their video streaming services together. Citing unnamed "people familiar with the discussions," the newspaper said that a bundle of Paramount+ and Apple TV+ might end up being priced lower than the current charges for both services individually.
If accurate, the reported talks between Paramount and Apple would be the latest indication that streamers are continuing to make their services viable financially. Low prices, high costs, and customer defections have made the business extremely challenging. Offering value to consumers is one way to keep subscriber numbers up and cash rolling into the coffers.
Neither Paramount nor Apple has yet officially commented on the Journal article.
Two are better than one
Marrying Paramount+ and Apple TV+ is a sensible move because the two services are more or less complementary. Apple is clearly aiming to be a prestige TV outlet; it's also pushing into the sports realm with the recently launched Friday Night Baseball series. Paramount, meanwhile, has a massive library compared to the tech upstart, with many popular series and films in its catalogue. Much will depend, however, on pricing.
10 stocks we like better than Paramount Global
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 Paramount Global 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 November 29, 2023
Eric Volkman has positions in Apple. The Motley Fool has positions in and recommends Apple. 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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A potential collaboration with a major tech company sent Paramount Global's (NASDAQ: PARA) stock skyward on the last trading day of the week. Citing unnamed "people familiar with the discussions," the newspaper said that a bundle of Paramount+ and Apple TV+ might end up being priced lower than the current charges for both services individually. Apple is clearly aiming to be a prestige TV outlet; it's also pushing into the sports realm with the recently launched Friday Night Baseball series.
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A potential collaboration with a major tech company sent Paramount Global's (NASDAQ: PARA) stock skyward on the last trading day of the week. Paramount+ and Apple TV+ bundling talks Friday morning, The Wall Street Journal reported that Paramount and Apple (NASDAQ: AAPL) are in talks about bundling their video streaming services together. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Paramount+ and Apple TV+ bundling talks Friday morning, The Wall Street Journal reported that Paramount and Apple (NASDAQ: AAPL) are in talks about bundling their video streaming services together. 10 stocks we like better than Paramount Global When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Eric Volkman has positions in Apple.
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A potential collaboration with a major tech company sent Paramount Global's (NASDAQ: PARA) stock skyward on the last trading day of the week. Paramount+ and Apple TV+ bundling talks Friday morning, The Wall Street Journal reported that Paramount and Apple (NASDAQ: AAPL) are in talks about bundling their video streaming services together. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Eric Volkman has positions in Apple.
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d1b8c5de-d05b-4400-bb9b-19e41c7b9fa5
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715002.0
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2023-12-01 00:00:00 UTC
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History Says the S&P 500 Will Move Higher in December: 2 Magnificent Growth Stocks to Buy Before 2024 and Hold Long Term
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DCOMP
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https://www.nasdaq.com/articles/history-says-the-sp-500-will-move-higher-in-december%3A-2-magnificent-growth-stocks-to-buy
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nan
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nan
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The S&P 500 has already climbed roughly 19% this year amid soaring investor sentiment, but history says there is more gas in the tank. Since 1928, the index has frequently moved higher in December, more so than in any other month, returning an average of 1.3%.
To be clear, I am not suggesting that investors target short-term returns. Stocks should always be assessed through a long-term lens. But investors who buy good stocks ahead of the holiday season may quickly find themselves in the black, and there is nothing wrong with that.
Advertisers and retailers are among the companies most likely to benefit from holiday enthusiasm, which makes Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Shopify (NYSE: SHOP) timely buys right now.
1. Alphabet
Alphabet is the largest ad tech company in the world. Its market share is expected to drop about 90 basis points this year, but it will still account for nearly 29% of global digital ad revenue, according to eMarketer. That success comes from its profound ability to engage consumers and collect data from across the internet.
Alphabet owns six products that serve over 2 billion users, including the most popular internet search engine (Google Search), the most popular streaming platform by viewing time (YouTube), and the most popular mobile operating system (Android). Those products make Alphabet an invaluable advertising partner for brands, as they afford the company tremendous reach and deep insight into consumer behavior.
In cloud computing, Google Cloud still ranks a distant third to Amazon Web Services and Microsoft Azure, but it has gained four points of market share (bringing the total to 10%) in the last four years. One reason for that success is expertise in artificial intelligence (AI). Google has a strong presence in the markets for cloud AI developer services and AI infrastructure, and consultancy Gartner recently called the company a leader in AI research.
Going forward, CEO Sundar Pichai sees two AI products in particular as potential growth drivers: Vertex AI and Duet AI. The former is a cloud service for training machine-learning models and building AI applications. The latter is a generative AI assistant that uses natural language to automate workflows across Google Workspace applications, such as drafting text in Google Docs and creating images in Google Slides.
Alphabet delivered mixed results in the third quarter. Total revenue increased 11% to $76.7 billion and GAAP net income soared 42% to $19.7 billion. But Google Cloud revenue missed expectations, causing the stock to fall following the report. Investors should monitor the cloud segment closely, but slowing growth is likely a product of economic headwinds, meaning there is no cause for alarm.
Looking ahead, the ad tech and cloud computing markets are expected to grow at roughly 14% annually through 2030 according to Grand View Research. That gives Alphabet a great shot at low-double-digit sales growth for years to come. In that context, its current valuation of 6 times sales appears reasonable, so investors should take the opportunity to buy a few shares today.
2. Shopify
Shopify provides software and services that simplify commerce. Its platform gives businesses a single view of their operations across physical and digital sales channels. That includes popular online marketplaces like Amazon and Etsy, and trendy social media like YouTube and TikTok, as well as mobile applications and direct-to-consumer websites.
Shopify further supports merchants with ancillary solutions for payments, financing, logistics, and more. Additionally, its enterprise-grade platform (Shopify Plus) includes more sophisticated tools for data analytics, workflow automation, machine-learning-powered marketing, and business-to-business (B2B) commerce.
That turnkey approach to retail (and wholesale) has earned Shopify a strong market presence. Consultancy Gartner recently recognized its leadership among digital commerce platforms, citing a greater ability to execute than any other vendor. Similarly, research company G2 has consistently recognized Shopify as a leader in e-commerce software and omnichannel commerce software.
Shopify reported impressive financial results in the third quarter, beating expectations on the top and bottom lines. Revenue increased 25% to $1.7 billion and GAAP net income improved to $718 million, up from a loss of $159 million in the prior year. Additionally, management said its attach rate (revenue as a percentage of gross merchandise volume) increased 9 basis points, meaning merchants are adopting more adjacent services.
Looking ahead, retail e-commerce sales are expected to increase at 8% annually to reach $8 trillion by 2030. Shopify will undoubtedly benefit from that tailwind. But its upmarket push with Shopify Plus represents an incremental growth opportunity. The company has yet to start charging for its machine-learning-powered marketing software, and its B2B commerce tools address a market forecasted to grow at 36% annually to reach $36 trillion by 2031 according to Straits Research.
Collectively, Shopify has a great shot at high-teens revenue growth through the end of the decade. That makes its current valuation of 14.3 times sales seem fair, and it represents a substantial discount to the three-year average of 25 times sales. Investors should feel comfortable buying a small position in Shopify stock today.
10 stocks we like better than Alphabet
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 Alphabet wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of November 27, 2023
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Trevor Jennewine has positions in Amazon, Etsy, and Shopify. The Motley Fool has positions in and recommends Alphabet, Amazon, Etsy, Microsoft, and Shopify. The Motley Fool recommends Gartner. 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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Those products make Alphabet an invaluable advertising partner for brands, as they afford the company tremendous reach and deep insight into consumer behavior. That includes popular online marketplaces like Amazon and Etsy, and trendy social media like YouTube and TikTok, as well as mobile applications and direct-to-consumer websites. Additionally, management said its attach rate (revenue as a percentage of gross merchandise volume) increased 9 basis points, meaning merchants are adopting more adjacent services.
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Alphabet owns six products that serve over 2 billion users, including the most popular internet search engine (Google Search), the most popular streaming platform by viewing time (YouTube), and the most popular mobile operating system (Android). Google has a strong presence in the markets for cloud AI developer services and AI infrastructure, and consultancy Gartner recently called the company a leader in AI research. Total revenue increased 11% to $76.7 billion and GAAP net income soared 42% to $19.7 billion.
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Advertisers and retailers are among the companies most likely to benefit from holiday enthusiasm, which makes Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Shopify (NYSE: SHOP) timely buys right now. Google has a strong presence in the markets for cloud AI developer services and AI infrastructure, and consultancy Gartner recently called the company a leader in AI research. See the 10 stocks *Stock Advisor returns as of November 27, 2023 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors.
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Google has a strong presence in the markets for cloud AI developer services and AI infrastructure, and consultancy Gartner recently called the company a leader in AI research. That's right -- they think these 10 stocks are even better buys. The Motley Fool has positions in and recommends Alphabet, Amazon, Etsy, Microsoft, and Shopify.
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b8f6d2b7-15b9-40bc-b56d-68c600f77321
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715003.0
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2023-12-01 00:00:00 UTC
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Where Will Carnival Stock Be in 3 Years?
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DCOMP
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https://www.nasdaq.com/articles/where-will-carnival-stock-be-in-3-years
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nan
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The past few years have been tough on Carnival Corp. (NYSE: CCL). The cruise line operator's revenue plunged in 2020 and 2021 as global travel ground to a halt during the pandemic, and it was forced to take on a lot more debt to stay solvent. Its business recovered in 2022 and 2023 as the pandemic diminished and people started traveling again, but its stock has still lost about a quarter of its value over the past three years.
Could Carnival's stock keep climbing and hit new highs over the next three years? Let's review its previous slowdown, its recent recovery, and its expectations for the future to decide.
Image source: Carnival Corp.
Looking back at Carnival's slowdown and recovery
In fiscal 2020 and fiscal 2021 (which ended in November 2021), Carnival's revenue and number of passengers plummeted. Its occupancy rate stayed above 100% in fiscal 2020 as it filled the vessels that hadn't been suspended yet, but it barely filled up half of its active vessels in fiscal 2021 as more travelers stayed home. But over the past two years, all three of those core growth metrics bounced back.
METRIC
FY 2019
FY 2020
FY 2021
FY 2022
9M FY 2023
Revenue growth
10%
(73%)
(66%)
538%
94%
Passengers carried growth
4%
(73%)
(65%)
542%
79%
Occupancy rate
107%
101%
56%
75%
100%
Data source: Carnival.
Carnival also turned unprofitable in fiscal 2020 with a net loss of $2.2 billion, which widened to $9.5 billion in fiscal 2021. But as its business recovered, it narrowed its net loss to $6.1 billion in fiscal 2022 and just $26 million in the first nine months of fiscal 2023. On an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis, it generated a profit of $3.3 billion in the first nine months of fiscal 2023, compared to a loss of $1.6 billion a year earlier.
Should investors expect smooth sailing over the next three years?
For the full year, analysts expect Carnival's revenue to rise 77% to $21.5 billion -- which would finally surpass its pre-pandemic revenue of $20.8 billion in fiscal 2019 -- with a positive adjusted EBITDA of $4.1 billion and a narrower net loss of $193 million. For fiscal 2024, they expect its revenue to rise 13% to $24.3 billion, its adjusted EBITDA to grow 31% to $5.4 billion, and for it to return to full-year profitability with $1.2 billion in net income.
During Carnival's latest conference call, CEO Josh Weinstein said it was already off to a "great start" for 2024 with its "European brands booking curve now essentially back to 2019 levels and our North American brands exceeding historical highs." Weinstein also noted Carnival was seeing "no signs of demand slowing" yet, but its booking volumes would eventually recede as it simply runs "out of inventory to sell."
For fiscal 2025, analysts expect Carnival's revenue to grow 5% to $25.4 billion, its adjusted EBITDA to rise 10% to $6 billion, and for its net income to increase 54% to $1.8 billion. Investors should take those estimates with a grain of salt, but they strongly suggest Carnival's business will stabilize over the next two to three years.
But it's shouldering a lot more debt than before
Carnival's revenue and profits are climbing again, but investors should recall that its debt levels more than tripled throughout the pandemic. It ended fiscal 2019 with $9.7 billion in long-term debt, but that figure hit a whopping $29.5 billion in the third quarter of fiscal 2023 -- which was more than 10 times higher than its $2.8 billion in cash and equivalents.
That leverage gives Carnival a high debt-to-equity ratio of 4.6. Yet its competitor Royal Caribbean (NYSE: RCL), which endured a similar slowdown during the pandemic, ended its latest quarter with an even higher debt-to-equity ratio of 6.1.
Carnival insists its debt load is manageable. During its latest conference call, CFO David Bernstein said its "maturity towers have been well managed through 2025 with just $2 billion of debt maturities next year and only $2.2 billion in 2025."
Nevertheless, investors should still take into account Carnival's debt -- which is reflected in its higher enterprise value instead of its lower market capitalization -- when valuing its stock. With an enterprise value of $48 billion, Carnival doesn't seem expensive at 2 times next year's sales and 9 times its adjusted EBITDA. Royal Caribbean is similarly valued at 3 times next year's sales and 9 times its adjusted EBITDA.
Where will Carnival's stock be in three years?
Carnival's stock has rallied nearly 90% this year as its business stabilized after the height of the pandemic, but it remains nearly 80% below its all-time high from early 2018. Therefore, I believe its stock remains undervalued relative to its growth prospects and should gradually head higher over the next three years -- as long as its recovery isn't unexpectedly derailed by another global pandemic, broadening geopolitical conflicts, or a major recession.
10 stocks we like better than Carnival Corp.
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 Carnival Corp. 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 November 29, 2023
Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The cruise line operator's revenue plunged in 2020 and 2021 as global travel ground to a halt during the pandemic, and it was forced to take on a lot more debt to stay solvent. Yet its competitor Royal Caribbean (NYSE: RCL), which endured a similar slowdown during the pandemic, ended its latest quarter with an even higher debt-to-equity ratio of 6.1. Therefore, I believe its stock remains undervalued relative to its growth prospects and should gradually head higher over the next three years -- as long as its recovery isn't unexpectedly derailed by another global pandemic, broadening geopolitical conflicts, or a major recession.
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Revenue growth 10% (73%) (66%) 538% 94% Passengers carried growth 4% (73%) (65%) 542% 79% Occupancy rate 107% 101% 56% 75% 100% Data source: Carnival. For fiscal 2025, analysts expect Carnival's revenue to grow 5% to $25.4 billion, its adjusted EBITDA to rise 10% to $6 billion, and for its net income to increase 54% to $1.8 billion. Royal Caribbean is similarly valued at 3 times next year's sales and 9 times its adjusted EBITDA.
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Looking back at Carnival's slowdown and recovery In fiscal 2020 and fiscal 2021 (which ended in November 2021), Carnival's revenue and number of passengers plummeted. For the full year, analysts expect Carnival's revenue to rise 77% to $21.5 billion -- which would finally surpass its pre-pandemic revenue of $20.8 billion in fiscal 2019 -- with a positive adjusted EBITDA of $4.1 billion and a narrower net loss of $193 million. For fiscal 2025, analysts expect Carnival's revenue to grow 5% to $25.4 billion, its adjusted EBITDA to rise 10% to $6 billion, and for its net income to increase 54% to $1.8 billion.
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Looking back at Carnival's slowdown and recovery In fiscal 2020 and fiscal 2021 (which ended in November 2021), Carnival's revenue and number of passengers plummeted. It ended fiscal 2019 with $9.7 billion in long-term debt, but that figure hit a whopping $29.5 billion in the third quarter of fiscal 2023 -- which was more than 10 times higher than its $2.8 billion in cash and equivalents. Where will Carnival's stock be in three years?
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7f11f35a-b065-4a85-8a24-140be1c5615f
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715004.0
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2023-12-01 00:00:00 UTC
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Baker Hughes elects Aramco veteran Al Gudaimi to its board
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DCOMP
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https://www.nasdaq.com/articles/baker-hughes-elects-aramco-veteran-al-gudaimi-to-its-board
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nan
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nan
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Dec 1 (Reuters) - Baker Hughes BKR.O said on Friday Abdulaziz M. Al Gudaimi has been elected as a director, beginning Jan. 1, 2024, on the company's board, expanding it to 10 members from nine.
Gudaimi was at Saudi Aramco for 38 years, retiring as its executive vice president of corporate development in November last year, a position he held since September 2020.
Baker Hughes, in a regulatory filing, said Gudaimi would qualify to be a non-employee director, and would be independent under corporate governance requirements.
(Reporting by Seher Dareen in Bengaluru; Editing by Shailesh Kuber)
((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128, if within U.S. call +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 1 (Reuters) - Baker Hughes BKR.O said on Friday Abdulaziz M. Al Gudaimi has been elected as a director, beginning Jan. 1, 2024, on the company's board, expanding it to 10 members from nine. Baker Hughes, in a regulatory filing, said Gudaimi would qualify to be a non-employee director, and would be independent under corporate governance requirements. (Reporting by Seher Dareen in Bengaluru; Editing by Shailesh Kuber) ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128, if within U.S. call +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 1 (Reuters) - Baker Hughes BKR.O said on Friday Abdulaziz M. Al Gudaimi has been elected as a director, beginning Jan. 1, 2024, on the company's board, expanding it to 10 members from nine. Baker Hughes, in a regulatory filing, said Gudaimi would qualify to be a non-employee director, and would be independent under corporate governance requirements. (Reporting by Seher Dareen in Bengaluru; Editing by Shailesh Kuber) ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128, if within U.S. call +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 1 (Reuters) - Baker Hughes BKR.O said on Friday Abdulaziz M. Al Gudaimi has been elected as a director, beginning Jan. 1, 2024, on the company's board, expanding it to 10 members from nine. Gudaimi was at Saudi Aramco for 38 years, retiring as its executive vice president of corporate development in November last year, a position he held since September 2020. (Reporting by Seher Dareen in Bengaluru; Editing by Shailesh Kuber) ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128, if within U.S. call +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dec 1 (Reuters) - Baker Hughes BKR.O said on Friday Abdulaziz M. Al Gudaimi has been elected as a director, beginning Jan. 1, 2024, on the company's board, expanding it to 10 members from nine. Gudaimi was at Saudi Aramco for 38 years, retiring as its executive vice president of corporate development in November last year, a position he held since September 2020. Baker Hughes, in a regulatory filing, said Gudaimi would qualify to be a non-employee director, and would be independent under corporate governance requirements.
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fd250687-2238-4dab-b9bb-b0af5865940d
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715005.0
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2023-12-01 00:00:00 UTC
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GRAPHIC-Resurgent S&P 500 crests new 2023 closing high after roller-coaster year
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DCOMP
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https://www.nasdaq.com/articles/graphic-resurgent-sp-500-crests-new-2023-closing-high-after-roller-coaster-year
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nan
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nan
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By Lewis Krauskopf
Dec 1 (Reuters) - A searing late-year rally has brought the S&P 500 .SPX to a fresh 2023 closing high, as investors bet the Federal Reserve is done raising interest rates and the U.S. economy will remain resilient in the face of tighter monetary policy.
The benchmark index closed at 4,594.63, nearly 6 points above its previous closing high for 2023 set in late July. The index gained 0.6% on Friday after bullish investors grew more confident the rate cycle had peaked following comments from Fed Chair Jerome Powell.
Signs that inflation is cooling after reaching a four-decade high last year have made investors more confident that the Fed will start cutting rates sooner than expected.
At the same time, the Fed’s aggressive rate increases so far appear to have done little damage to the U.S. economy, despite fears that tighter monetary policy would hurt growth. The S&P 500 is up over 19% year-to-date after posting its biggest monthly rise in over a year in November. The index stood about 4% below its all-time closing high from January 2022.
Stocks have faced down several crises this year, starting with the implosion of Silicon Valley Bank in March that sparked worries over the health of the broader banking system.
A legislative showdown over raising the U.S. debt ceiling became a key concern for investors months later, with equities gaining support once a deal was reached.
The S&P 500 reached its previous 2023 closing high on July 31, also spurred in part by excitement over developments in artificial intelligence technology.
A steady rise in Treasury yields - which dulled the allure of stocks compared to bonds and other investments - began eroding those gains, resulting in a sell-off that eventually erased more than half of the index’s year-to-date advance.
However, many investors came away from the Fed’s Nov. 1 meeting more confident that the central bank was close to wrapping up its rate increases. Data on Nov. 14 showed that consumer prices were unchanged on a monthly basis for October, the first such reading in more than a year, sparking a sizable stock rally.
Federal funds futures, a widely used security for hedging short-term interest rate risk, imply a Fed funds rate of 4.54% by the end of July, versus 5.12% expected three months ago for that period, according to LSEG data.
Cooling inflation has been accompanied by little of the economic damage that many expected to come with the Fed’s rate hikes - giving rise to hopes of a so-called Goldilocks scenario where the central bank is able to staunch the growth in consumer prices without badly hurting growth.
The economy appears to have avoided a recession this year that was widely forecast at the beginning of 2023, though growth in key areas such as employment has slowed. The Citigroup Economic Surprise Index .CESIUSD, which measures how economic data performs versus expectations, has been positive for virtually all of 2023.
Of course, some investors worry that the cumulative effects of the Fed’s 525 basis points of tightening are only starting to manifest and will eventually cool growth far more than currently expected.
A cadre of massive stocks has been the key engine of most of the S&P 500’s 2023 gains thanks to their outsized weightings in the index. The so-called "Magnificent Seven" -- Apple AAPL.O, Microsoft MSFT.O, Alphabet GOOGL.O, Amazon AMZN.O, Nvidia NVDA.O, Meta Platforms META.O and Tesla TSLA.O -- have seen stock gains of between about 47% and 220% so far this year.
The companies perceived safety as investments given their size and competitive advantages has benefited the stocks, while a number of them have also been fueled by enthusiasm about the profit potential of artificial intelligence.
The megacaps' outperformance has increased their combined weight to well over one-fourth of the entire S&P 500, meaning the stocks' moves have outsized influence on the benchmark index.
To be sure, the S&P 500’s rapid rise has also made it richly valued compared to its historic levels, which could be an obstacle for the rally.
The S&P 500 currently trades at roughly 19 times forward earnings estimates, compared to a historical average of 15.6 times.
GRAPHIC-S&P 500 timeline https://tmsnrt.rs/3SWqXXA
GRAPHIC-Citi US economic surprise index https://tmsnrt.rs/3MXgBTA
GRAPHIC-S&P 500 weight of 7 megacaps https://tmsnrt.rs/3RbxZX2
GRAPHIC-S&P 500 forward P/E https://tmsnrt.rs/3MUCItE
(Reporting by Lewis Krauskopf; Additional reporting by Noel Randewich and Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Nick Zieminski)
((lewis.krauskopf@thomsonreuters.com; Twitter: @LKrauskopf;))
The views and 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 Lewis Krauskopf Dec 1 (Reuters) - A searing late-year rally has brought the S&P 500 .SPX to a fresh 2023 closing high, as investors bet the Federal Reserve is done raising interest rates and the U.S. economy will remain resilient in the face of tighter monetary policy. Signs that inflation is cooling after reaching a four-decade high last year have made investors more confident that the Fed will start cutting rates sooner than expected. A steady rise in Treasury yields - which dulled the allure of stocks compared to bonds and other investments - began eroding those gains, resulting in a sell-off that eventually erased more than half of the index’s year-to-date advance.
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The benchmark index closed at 4,594.63, nearly 6 points above its previous closing high for 2023 set in late July. Signs that inflation is cooling after reaching a four-decade high last year have made investors more confident that the Fed will start cutting rates sooner than expected. GRAPHIC-S&P 500 timeline https://tmsnrt.rs/3SWqXXA GRAPHIC-Citi US economic surprise index https://tmsnrt.rs/3MXgBTA GRAPHIC-S&P 500 weight of 7 megacaps https://tmsnrt.rs/3RbxZX2 GRAPHIC-S&P 500 forward P/E https://tmsnrt.rs/3MUCItE (Reporting by Lewis Krauskopf; Additional reporting by Noel Randewich and Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Nick Zieminski) ((lewis.krauskopf@thomsonreuters.com; Twitter: @LKrauskopf;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Signs that inflation is cooling after reaching a four-decade high last year have made investors more confident that the Fed will start cutting rates sooner than expected. Cooling inflation has been accompanied by little of the economic damage that many expected to come with the Fed’s rate hikes - giving rise to hopes of a so-called Goldilocks scenario where the central bank is able to staunch the growth in consumer prices without badly hurting growth. GRAPHIC-S&P 500 timeline https://tmsnrt.rs/3SWqXXA GRAPHIC-Citi US economic surprise index https://tmsnrt.rs/3MXgBTA GRAPHIC-S&P 500 weight of 7 megacaps https://tmsnrt.rs/3RbxZX2 GRAPHIC-S&P 500 forward P/E https://tmsnrt.rs/3MUCItE (Reporting by Lewis Krauskopf; Additional reporting by Noel Randewich and Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Nick Zieminski) ((lewis.krauskopf@thomsonreuters.com; Twitter: @LKrauskopf;)) The views and 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, the Fed’s aggressive rate increases so far appear to have done little damage to the U.S. economy, despite fears that tighter monetary policy would hurt growth. However, many investors came away from the Fed’s Nov. 1 meeting more confident that the central bank was close to wrapping up its rate increases. Cooling inflation has been accompanied by little of the economic damage that many expected to come with the Fed’s rate hikes - giving rise to hopes of a so-called Goldilocks scenario where the central bank is able to staunch the growth in consumer prices without badly hurting growth.
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2023-12-01 00:00:00 UTC
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U.K. Market Opportunities: 3 Overlooked Funds With Big Potential
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https://www.nasdaq.com/articles/u.k.-market-opportunities%3A-3-overlooked-funds-with-big-potential
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With one month left in the year, it’s time for investors to consider buying stocks from the United Kingdom (U.K.). Recently, Vanguard highlighted that it expects U.S. stocks to generate annualized returns of 5.2% over the next decade, 280 basis points less than non-U.S. developed markets. Small- and mid-cap stocks make up a major chunk of the publicly traded stocks in the U.K., and in mid-November, Bloomberg published a piece about how undervalued those U.K. stocks are.
“From 2020 to 2022, U.K. equities traded at a tiny premium to the Quest calculation of ‘fair value.’ They now trade at a 26% discount. Small and medium caps traded at a 19% premium to their fair value; now they trade at a 28% discount,” Bloomberg reported.
American investors ought to take off their home-country bias blinders in 2024 and look to the homeland of King Charles III for value opportunities they just won’t find here in the U.S. Here are three U.K. stocks to get investors in the game.
iShares MSCI United Kingdom ETF (EWU)
Source: iQoncept / Shutterstock
iShares MSCI United Kingdom ETF (NYSEARCA:EWU) tracks the performance of the MSCI United Kingdom Index, a collection of mid- and large-cap stocks in the U.K. It has a decent amount of net assets with $2.6 billion invested in 85 stocks.
Referencing the valuation issue mentioned in the introduction, the exchange-traded-fund’s (ETF) price-to-earnings (P/E) ratio and price-to-book (P/B) ratio are 11.6 and 1.6, respectively. That compares to 22.9 and 4.2 for iShares’ S&P 500 ETF. Most of that difference is likely due to the Magnificent Seven tech stocks in the S&P 500.
The average market capitalization of the 85 stocks is $52.5 billion, putting it well into large-cap territory. According to Morningstar.com, 83% of the net assets are in large-caps, with the remaining 17% in mid-cap stocks. Its top three sectors by weight are financials (18.28%), consumer staples (17.73%) and energy (13.86%). Technology accounts for just 1.08%.
Americans will be familiar with all of the names in the top 10 (50% of net assets). Charging 0.5%, EWU is an excellent way to bet on U.K. stocks.
Franklin FTSE United Kingdom ETF (FLGB)
Source: Shutterstock
The Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) tracks the performance of the FTSE UK RIC Capped Index, a collection of U.K. stocks ranging in size from a market cap of $2.26 billion to $224 billion. It has net assets of $605 million invested in 109 stocks.
The ETF’s P/E ratio and P/B ratio are 10.4 and 1.8, respectively. The weighted average market cap of the 109 stocks is $80.3 billion, even larger than EWU. However, mid caps account for 21%, 400 basis points more than EWU.
Its top three sectors by weight are financials (18.02%), consumer staples (16.94%) and industrials (13.16%). Technology accounts for just 1.06%. One of the only differences between FLGB and EWU is that industries are flipped with energy.
FLGB’s top 10 holdings account for 47% of its net assets. Many of the names in the top 10 are the same as EWU. One thing to keep in mind about this ETF is that the word “capped” in the index name means that a single holding can’t exceed a 25% weighting, and stocks exceeding a 5% weighting can’t add up to more than 50%.
The best part about FLGB is that it charges just 0.09%, one-fifth the management expense ratio for EWU.
iShares MSCI United Kingdom Small Cap ETF (EWUS)
Source: iQoncept / Shutterstock
The iShares MSCI United Kingdom Small Cap ETF (BATS:EWUS) is iShare’s ETF for smaller U.K. companies. It tracks the performance of the MSCI UK Small Cap Index, a collection of small-cap stocks that can be combined with EWU for greater U.K. exposure.
The ETF’s P/E ratio and P/B ratio are 12.7 and 1.4, respectively. The weighted average market cap of the 252 stocks is $2.8 billion, with mid caps accounting for 48%, small caps 44%, micro caps 3% and cash 5%. Its top three sectors by weight are industrials (21.62%), financials (17.16%) and consumer discretionary (16.98%). Technology accounts for just 1.06%.
Its top 10 holdings account for just 15% of its net assets, providing greater diversification among all of its stocks held. Unless someone has spent a lot of time in the U.K. or working with U.K. businesses, it’s unlikely they’ll recognize many of the names in the top 10, except for Marks & Spencer Group (OTCMKTS:MAKSY).
EWUS charges 0.59%, which is relatively reasonable for a small-cap ETF. On the downside, it has just $44.4 million in net assets. However, given iShares’ size, it can afford to keep EWUS alive to complement its larger stablemate.
On the date of publication, Will Ashworth 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.
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 U.K. Market Opportunities: 3 Overlooked Funds With Big 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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It tracks the performance of the MSCI UK Small Cap Index, a collection of small-cap stocks that can be combined with EWU for greater U.K. exposure. Unless someone has spent a lot of time in the U.K. or working with U.K. businesses, it’s unlikely they’ll recognize many of the names in the top 10, except for Marks & Spencer Group (OTCMKTS:MAKSY). 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 U.K. Market Opportunities: 3 Overlooked Funds With Big Potential appeared first on InvestorPlace.
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iShares MSCI United Kingdom ETF (EWU) Source: iQoncept / Shutterstock iShares MSCI United Kingdom ETF (NYSEARCA:EWU) tracks the performance of the MSCI United Kingdom Index, a collection of mid- and large-cap stocks in the U.K. Franklin FTSE United Kingdom ETF (FLGB) Source: Shutterstock The Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) tracks the performance of the FTSE UK RIC Capped Index, a collection of U.K. stocks ranging in size from a market cap of $2.26 billion to $224 billion. iShares MSCI United Kingdom Small Cap ETF (EWUS) Source: iQoncept / Shutterstock The iShares MSCI United Kingdom Small Cap ETF (BATS:EWUS) is iShare’s ETF for smaller U.K. companies.
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iShares MSCI United Kingdom ETF (EWU) Source: iQoncept / Shutterstock iShares MSCI United Kingdom ETF (NYSEARCA:EWU) tracks the performance of the MSCI United Kingdom Index, a collection of mid- and large-cap stocks in the U.K. Franklin FTSE United Kingdom ETF (FLGB) Source: Shutterstock The Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) tracks the performance of the FTSE UK RIC Capped Index, a collection of U.K. stocks ranging in size from a market cap of $2.26 billion to $224 billion. iShares MSCI United Kingdom Small Cap ETF (EWUS) Source: iQoncept / Shutterstock The iShares MSCI United Kingdom Small Cap ETF (BATS:EWUS) is iShare’s ETF for smaller U.K. companies.
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The weighted average market cap of the 109 stocks is $80.3 billion, even larger than EWU. FLGB’s top 10 holdings account for 47% of its net assets. Many of the names in the top 10 are the same as EWU.
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715007.0
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2023-12-01 00:00:00 UTC
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Why C3.ai Rallied Today
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https://www.nasdaq.com/articles/why-c3.ai-rallied-today-0
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Shares of artificial intelligence software maker C3.ai (NYSE: AI) rallied 6% on Friday on a great day for AI stocks.
The software company reports earnings next week, and investors may be buying ahead of that event. After all, today saw not one but several bullish data points and commentary around AI stocks, both on the hardware and software side.
Interest rates also continued falling today, which tend to benefit low- or no-profit growth stocks. So it's no wonder that C3.ai soared to end the week.
C3.ai's peers are bullish on artificial intelligence, with results to back it up
On Thursday night, a number of C3.ai's peers in data analytics software reported stronger-than-expected earnings. Two big examples were Elastic (NYSE: ESTC), which rallied 37% today, and UiPath (NYSE: PATH), which rallied 27%.
Like C3.ai, both of these enterprise software stocks help businesses use data to become more productive. Elastic allows businesses to search their own databases to help analysts find the specific data that they're looking to analyze, and UiPath helps automate menial tasks through the use of data and machine learning. Although both companies existed in data analytics before the past year's generative AI revolution, each is also benefiting from generative AI tools.
Both companies, obviously, reported solid growth and optimism about the AI-powered future last night. In the postearnings conference call Elastic CEO Ash Kulkarni noted "customer excitement and engagement" around how generative AI applications could automatically draw data from Elastic's Elasticsearch Relevance Engine. Similarly, UiPath also noted it has infused its robotic process automation (RPA) suite with new generative AI features, powering an acceleration of growth.
There was also other bullish commentary today from other AI business leaders. The CEO of server maker HP Enterprise (NYSE: HPE) said that AI had reached "an inflection point" at a company conference in Barcelona earlier today. On its recent earnings release, HP's high-performance computing and artificial intelligence segment revenue was up 37%. Meanwhile, HPE peer Dell (NYSE: DELL) reported earlier this week. While the company missed on muted PC results, its server business grew sequentially, and AI-optimized server demand doubled sequentially.
And if that weren't good enough, the yield on the 10-year Treasury bond fell further today, below 4.23%, plunging well below its October highs of 5%.
That's very helpful for unprofitable stocks like C3.ai, which theoretically will have profits one day, but likely far in the future.
But investors should still be cautious about C3.ai
It should still be noted that investors should be cautious about C3.ai specifically. Although it has "AI" in its name, it may not be as big of an AI beneficiary as some other software stocks. In addition, the company is growing more slowly than Elastic and UiPath while also being less profitable.
Last quarter, C3.ai only grew 10.8%, well below the 17% growth for Elastic and 24% growth that UiPath just posted. In addition, C3.ai still forecast for significant adjusted (non-GAAP) operating losses of $70 million to $100 million this fiscal year. While both UiPath and Elastic are still generating GAAP losses due to stock-based compensation, each is currently posting adjusted operating profits.
Since it's still unclear if C3.ai is an AI contender or pretender, investors may not want to chase the stock based on Elastic's or UiPath's results ahead of next week's C3.ai report.
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Billy Duberstein has no position in any of the stocks mentioned. His clients may own shares of the companies mentioned. The Motley Fool has positions in and recommends Elastic and UiPath. The Motley Fool recommends C3.ai. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Similarly, UiPath also noted it has infused its robotic process automation (RPA) suite with new generative AI features, powering an acceleration of growth. The CEO of server maker HP Enterprise (NYSE: HPE) said that AI had reached "an inflection point" at a company conference in Barcelona earlier today. Since it's still unclear if C3.ai is an AI contender or pretender, investors may not want to chase the stock based on Elastic's or UiPath's results ahead of next week's C3.ai report.
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Shares of artificial intelligence software maker C3.ai (NYSE: AI) rallied 6% on Friday on a great day for AI stocks. The CEO of server maker HP Enterprise (NYSE: HPE) said that AI had reached "an inflection point" at a company conference in Barcelona earlier today. Meanwhile, HPE peer Dell (NYSE: DELL) reported earlier this week.
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Shares of artificial intelligence software maker C3.ai (NYSE: AI) rallied 6% on Friday on a great day for AI stocks. Since it's still unclear if C3.ai is an AI contender or pretender, investors may not want to chase the stock based on Elastic's or UiPath's results ahead of next week's C3.ai report. See the 10 stocks *Stock Advisor returns as of 11/27/2023 Billy Duberstein has no position in any of the stocks mentioned.
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Shares of artificial intelligence software maker C3.ai (NYSE: AI) rallied 6% on Friday on a great day for AI stocks. Last quarter, C3.ai only grew 10.8%, well below the 17% growth for Elastic and 24% growth that UiPath just posted. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them!
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2023-12-01 00:00:00 UTC
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If You Invested $1,000 in Ginkgo Bioworks in 2021, This Is How Much You Would Have Today
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https://www.nasdaq.com/articles/if-you-invested-%241000-in-ginkgo-bioworks-in-2021-this-is-how-much-you-would-have-today
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Ginkgo Bioworks (NYSE: DNA) went public a few years ago. With sky-high expectations for growth spanning multiple industries, it may have been tempting for investors to take a chance on the up-and-coming cell programming business. Investing $1,000 may have been enough to benefit from the possible upside while avoiding too much risk. Here's a look at how much that investment would be worth today and whether Ginkgo's stock is still worth hanging on to.
The stock went public through a SPAC on Sept. 17, 2021
Special purpose acquisition companies (SPACs) were popular in 2021 while investors were buying up meme stocks and other risky investments. Many SPACs haven't lived up to their initial hype; unfortunately, Ginkgo hasn't been an exception.
When its shares first began trading on the NYSE on Sept. 17, 2021, it opened at a price of $11.15. Back then, buying $1,000 worth of shares in the company would have allowed you to buy approximately 90 shares of the cell programming business. It's not a huge buy-in, but given the upside, it may have been a justifiable amount given the high-risk, high-reward nature of the stock.
Ginkgo's stock has been a disaster since then
Unfortunately for Ginkgo investors, the company went public right around the time when the markets were slowing down. The stock began declining before the end of 2021, and Ginkgo would be down 32% even before the new year.
But its shares would crater even further after that. With deep losses and revenue that has nosedived due to a decline in COVID-19-related testing demand, the company has been hurting on multiple fronts. Today, the healthcare stock trades around $1.40 per share, representing a mammoth 87% decline in value since its first day of trading. At that price tag, 90 shares of the business would be worth just $126.
Can the stock turn things around?
This year hasn't been great for Ginkgo, as the stock is down another 18%. In the very long run, there is hope that Ginkgo could make a big dent in the $4 trillion addressable market in which the company believes it can be a player. From healthcare to agriculture to consumer goods and other industries, there's a wide range of ways it can help companies make bioengineered products, which can help their operations. The one big caveat, however, is that it may not be until 2040 that the company's addressable market is worth that much.
It could take years for Ginkgo to prove it can capitalize on those opportunities and that there is a realistic path to profitability. The company's business is nowhere near breakeven, and Ginkgo has also burned through $342 million in cash just from its day-to-day operating activities over the trailing 12 months.
The saving grace is that Ginkgo has over $1 billion in cash on its books, which means it won't run out of money anytime soon. But that isn't enough of a reason for the stock to turn things around, as Ginkgo will need strong results. Unfortunately, revenue has been declining. In its most recent quarter, which ended on Sept. 30, it incurred a loss of $303 million.
Should you buy Ginkgo Bioworks stock?
Ginkgo Bioworks hasn't been a good buy, and there is little reason to expect a turnaround anytime soon. Investors are better off taking a wait-and-see approach with the stock as Ginkgo's financials have been taking a beating, its cash balance has been diminishing, and things could still get worse for this risky stock.
10 stocks we like better than Ginkgo Bioworks
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*Stock Advisor returns as of November 27, 2023
David Jagielski has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With sky-high expectations for growth spanning multiple industries, it may have been tempting for investors to take a chance on the up-and-coming cell programming business. In the very long run, there is hope that Ginkgo could make a big dent in the $4 trillion addressable market in which the company believes it can be a player. From healthcare to agriculture to consumer goods and other industries, there's a wide range of ways it can help companies make bioengineered products, which can help their operations.
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Back then, buying $1,000 worth of shares in the company would have allowed you to buy approximately 90 shares of the cell programming business. The one big caveat, however, is that it may not be until 2040 that the company's addressable market is worth that much. Should you buy Ginkgo Bioworks stock?
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The stock went public through a SPAC on Sept. 17, 2021 Special purpose acquisition companies (SPACs) were popular in 2021 while investors were buying up meme stocks and other risky investments. Ginkgo's stock has been a disaster since then Unfortunately for Ginkgo investors, the company went public right around the time when the markets were slowing down. See the 10 stocks *Stock Advisor returns as of November 27, 2023 David Jagielski has no position in any of the stocks mentioned.
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Back then, buying $1,000 worth of shares in the company would have allowed you to buy approximately 90 shares of the cell programming business. Ginkgo Bioworks hasn't been a good buy, and there is little reason to expect a turnaround anytime soon. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Ginkgo Bioworks wasn't one of them!
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715009.0
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2023-12-01 00:00:00 UTC
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What Sam Altman’s Homecoming Means for OpenAI
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https://www.nasdaq.com/articles/what-sam-altmans-homecoming-means-for-openai
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
“We are so back,” posted Greg Brockman, cofounder and chairman of OpenAI, last Wednesday, right before Thanksgiving.
Brockman’s post on X (formerly Twitter) was referring, of course, to the five-day boardroom drama between OpenAI and Sam Altman, the company’s CEO, that saw Altman fired and Brockman resigning in solidarity.
So, in today’s Market 360, let’s dive into the details of the near week-long drama… and what it means for OpenAI’s future. I’ll also explain what the acceleration in AI means for investors.
To start at the beginning, OpenAI’s boardroom spat was apparently due to apprehension about how quickly AI was being implemented at the company. (Interestingly, all this occurred just shy of one year after the launch of ChatGPT.)
Reports from Reuters and The Information suggest that OpenAI had made a major breakthrough in its core technology. A new AI model called Q* (pronounced “q star”) was demonstrated internally. According to those reports, it can solve simple math problems, and could be a step toward creating artificial general intelligence (AGI).
The power of Q* allegedly created mixed feelings among OpenAI’s board. While Altman was excited about the economic prospects of this new AI, the board worried he was moving too quickly.
So, the board acted, and thus the five-day saga began.
Let’s break it down…
Friday, November 17
The OpenAI Board of Directors suddenly – and shockingly – fired CEO Sam Altman in a move that no one saw coming. The board said that Altman “was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. The board no longer has confidence in his ability to continue leading OpenAI.”
Saturday, November 18
Multiple OpenAI execs, including Brockman, announced their resignations. The C-suite at Microsoft Corporation (MSFT), OpenAI’s biggest investor and supporter, were reportedly furious. They negotiated to reinstate Altman as CEO. OpenAI’s executive team assisted with these efforts.
Sunday, November 19
The efforts looked like they were going to work… until OpenAI’s board again shocked everyone by announcing former Twitch CEO Emmett Shear as the interim CEO of OpenAI.
Monday, November 20
Microsoft responded by hiring Altman and other OpenAI execs to lead a new advanced AI research team at Microsoft.
About 700 of OpenAI’s 770 employees signed a letter to the board, essentially calling for their resignation. Otherwise, they would leave to join Altman at Microsoft.
Tuesday, November 21
OpenAI released a statement that it had reached “a deal in principle” for Altman to return as the company’s CEO.
Wednesday, November 22
In an ultimate twist – and bringing the saga to its (for now) finale – Sam Altman returned to OpenAI. Greg Brockman, of course, also returned to the company.
So, the prodigal son had come home… and just in time for the holidays.
On X, Altman posted that he was “looking forward” to his return to OpenAI and building a “strong partnership” with Microsoft. You can read the full tweet below.
While the boardroom drama reached an end last week, the headlines have not. In fact, The Verge released an interview with Altman just last night. When asked what he learned from the ordeal, Altman replied:
I learned that the company can truly function without me, and that’s a very nice thing.
I selfishly feel good because either I picked great leaders, or I mentored them well. It’s very nice to feel like the company will be totally fine without me, and the team is ready and has leveled up.
While Altman feels secure in the team that he’s built, the reality is that he’s back on it.
So, what does this mean for both Altman and OpenAI going forward?
In Altman’s favor, OpenAI’s boardroom has changed. Two new board members have replaced the previous leadership that kicked Altman out. They are former Treasury Secretary Larry Summers and Bret Taylor, a former co-CEO of Salesforce. This smaller, transitory board is set to vet other new potential members and expand to nine people, eventually resetting OpenAI’s leadership. Microsoft, which owns 49% of OpenAI, plans to take a non-voting board seat as well.
So, Altman will now lead a new board that is more supportive of his vision to more quickly roll out and commercialize AI tools. This might change the very nature of OpenAI.
Until now, OpenAI was a for-profit company under the control of a nonprofit parent organization. Through this saga, it has become clear that the nonprofit parent organization was “holding back” the for-profit firm from rapidly growing new products and services.
Well, those nonprofit shackles have been broken… and the stage is now set for a major for-profit push of next-gen AI in the coming months.
With Q* on the horizon, it seems that truly powerful AI is a lot closer than anyone thinks, and that AI tech is progressing a lot faster than anyone thought possible.
So, it’s a good thing the OpenAI team has “leveled up.” And that Altman is back at the wheel.
AI Advancements Can Make or Break Your Portfolio
The recent developments at OpenAI are certainly an indication that AI is growing more and more advanced.
We’re already watching AI transform sales, marketing, customer service, transportation, healthcare… even the law. For example, the last time ChatGPT took the bar exam, it did better than 90% of human lawyers taking the same test. It has also passed the medical licensing exam… Wharton’s MBA exam… and the SATs – with a score good enough for the Ivy League colleges.
Now more companies are incorporating AI into their businesses, and as new businesses grow, they have to destroy the old companies. This creates a massive driver of wealth inequality. This massive divide, or “chasm,” is taking over every aspect of our lives. I call this the “Technochasm.” Essentially, technology makes some people a lot richer and that makes our world easier to live in, while at the same time sidelining those who fail to keep up.
This “Technochasm” phenomenon has dominated markets and controlled the direction of wealth in America for years. But now AI is adding fuel to the fire.
As this divide widens, you want to make sure that you’re on the right side. I want to help investors take the proper steps to land on the right side of that divide, so I recently published a special report – Scalability Titans: Six Must-Own AI Stocks to BUY Now – that covers six AI investments that could help put you on the right side of this “Technochasm.”
Sign up for Growth Investor today and get immediate access to this report, as well as my other report – 25 Stocks to Sell as AI Takes Over. The reality is that as the “Technochasm” widens, we could see many well-known stocks get hammered by more nimble, better-adapted companies. That’s why I want to share a list of 25 stocks that you should consider dumping before they slide. One way or another, they’re not keeping pace… and it’s showing up in their projected earnings.
Click here for more details.
(Already a Growth Investor member? Log in to the members-only website here.)
Sincerely,
Louis Navellier
P.S. There is an invisible force that can turn ordinary Americans into multimillionaires – even billionaires.
Yet few Americans even realize “it” exists. Fewer still learn how to harness it to make money.
The rich are using it to get richer, while millions of Americans fall behind.
We’ve put together this presentation to make sure you stay on the right side of the wealth divide.
Click here to learn more.
The Editor hereby discloses that as of the date of this email, the Editor, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below:
Microsoft Corporation (MSFT)
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The post What Sam Altman’s Homecoming Means for OpenAI appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The board no longer has confidence in his ability to continue leading OpenAI.” Saturday, November 18 Multiple OpenAI execs, including Brockman, announced their resignations. The Editor hereby discloses that as of the date of this email, the Editor, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below: Microsoft Corporation (MSFT) 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 What Sam Altman’s Homecoming Means for OpenAI appeared first on InvestorPlace.
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Brockman’s post on X (formerly Twitter) was referring, of course, to the five-day boardroom drama between OpenAI and Sam Altman, the company’s CEO, that saw Altman fired and Brockman resigning in solidarity. I call this the “Technochasm.” Essentially, technology makes some people a lot richer and that makes our world easier to live in, while at the same time sidelining those who fail to keep up. The Editor hereby discloses that as of the date of this email, the Editor, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below: Microsoft Corporation (MSFT) 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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Brockman’s post on X (formerly Twitter) was referring, of course, to the five-day boardroom drama between OpenAI and Sam Altman, the company’s CEO, that saw Altman fired and Brockman resigning in solidarity. Monday, November 20 Microsoft responded by hiring Altman and other OpenAI execs to lead a new advanced AI research team at Microsoft. I want to help investors take the proper steps to land on the right side of that divide, so I recently published a special report – Scalability Titans: Six Must-Own AI Stocks to BUY Now – that covers six AI investments that could help put you on the right side of this “Technochasm.” Sign up for Growth Investor today and get immediate access to this report, as well as my other report – 25 Stocks to Sell as AI Takes Over.
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Brockman’s post on X (formerly Twitter) was referring, of course, to the five-day boardroom drama between OpenAI and Sam Altman, the company’s CEO, that saw Altman fired and Brockman resigning in solidarity. I call this the “Technochasm.” Essentially, technology makes some people a lot richer and that makes our world easier to live in, while at the same time sidelining those who fail to keep up. I want to help investors take the proper steps to land on the right side of that divide, so I recently published a special report – Scalability Titans: Six Must-Own AI Stocks to BUY Now – that covers six AI investments that could help put you on the right side of this “Technochasm.” Sign up for Growth Investor today and get immediate access to this report, as well as my other report – 25 Stocks to Sell as AI Takes Over.
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6c0a0983-0785-453f-bc70-f3e53537312e
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715010.0
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2023-12-01 00:00:00 UTC
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After Hours Most Active for Dec 1, 2023 : INTC, TLT, AFRM, AMZN, T, ARCE, BP, KEY, TRP, DINO, PFE, AAPL
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DCOMP
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https://www.nasdaq.com/articles/after-hours-most-active-for-dec-1-2023-%3A-intc-tlt-afrm-amzn-t-arce-bp-key-trp-dino-pfe
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The NASDAQ 100 After Hours Indicator is down -2.03 to 15,995.55. The total After hours volume is currently 70,180,539 shares traded.
The following are the most active stocks for the after hours session:
Intel Corporation (INTC) is unchanged at $43.74, with 3,671,855 shares traded. INTC's current last sale is 115.11% of the target price of $38.
iShares 20+ Year Treasury Bond ETF (TLT) is +0.14 at $93.13, with 3,276,884 shares traded. This represents a 12.99% increase from its 52 Week Low.
Affirm Holdings, Inc. (AFRM) is +0.08 at $37.75, with 2,980,356 shares traded., following a 52-week high recorded in today's regular session.
Amazon.com, Inc. (AMZN) is -0.08 at $146.95, with 2,065,461 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
AT&T Inc. (T) is -0.02 at $16.74, with 1,904,535 shares traded. T's current last sale is 83.7% of the target price of $20.
Arco Platform Limited (ARCE) is unchanged at $13.99, with 1,859,378 shares traded.ARCE is scheduled to provide an earnings report on 12/7/2023, for the fiscal quarter ending Sep2023. The consensus earnings per share forecast is -0.17 per share, which represents a -27 percent increase over the EPS one Year Ago
BP p.l.c. (BP) is +0.02 at $36.00, with 1,827,843 shares traded. BP's current last sale is 83.72% of the target price of $43.
KeyCorp (KEY) is unchanged at $13.22, with 1,511,175 shares traded. KEY's current last sale is 101.69% of the target price of $13.
TC Energy Corporation (TRP) is unchanged at $37.84, with 1,505,013 shares traded. TRP's current last sale is 95.99% of the target price of $39.42.
HF Sinclair Corporation (DINO) is unchanged at $54.34, with 1,437,805 shares traded. DINO's current last sale is 85.57% of the target price of $63.5.
Pfizer, Inc. (PFE) is -0.08 at $28.83, with 1,428,818 shares traded., following a 52-week high recorded in today's regular session.
Apple Inc. (AAPL) is unchanged at $191.24, with 1,385,132 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2023. The consensus EPS forecast is $2.08. As reported by Zacks, the current mean recommendation for AAPL 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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Affirm Holdings, Inc. (AFRM) is +0.08 at $37.75, with 2,980,356 shares traded., following a 52-week high recorded in today's regular session. Arco Platform Limited (ARCE) is unchanged at $13.99, with 1,859,378 shares traded.ARCE is scheduled to provide an earnings report on 12/7/2023, for the fiscal quarter ending Sep2023. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2023.
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Affirm Holdings, Inc. (AFRM) is +0.08 at $37.75, with 2,980,356 shares traded., following a 52-week high recorded in today's regular session. The consensus earnings per share forecast is -0.17 per share, which represents a -27 percent increase over the EPS one Year Ago Pfizer, Inc. (PFE) is -0.08 at $28.83, with 1,428,818 shares traded., following a 52-week high recorded in today's regular session.
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AT&T Inc. (T) is -0.02 at $16.74, with 1,904,535 shares traded. The consensus earnings per share forecast is -0.17 per share, which represents a -27 percent increase over the EPS one Year Ago (BP) is +0.02 at $36.00, with 1,827,843 shares traded.
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AT&T Inc. (T) is -0.02 at $16.74, with 1,904,535 shares traded. (BP) is +0.02 at $36.00, with 1,827,843 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2023.
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84f426a1-148d-4789-ac86-ff49bd9d98b6
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715011.0
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2023-12-01 00:00:00 UTC
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3 Overlooked Auto Winners in a Rapidly Evolving Industry
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https://www.nasdaq.com/articles/3-overlooked-auto-winners-in-a-rapidly-evolving-industry
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If one thing is true about investors, it's that they all love to find the next high-flying stock, or overlooked hidden gem that will give them returns worth bragging about. Here are three auto stocks that many investors may be overlooking, but shouldn't.
Burning rubber
While Ferrari's (NYSE: RACE) vehicles and its iconic logo are well known, the stock is often overlooked by investors as it sits in the capital-intensive and historically low-margin automotive industry. However, that's a mistake, as the company has many competitive advantages that separate it from typical automakers.
Let's start with an eye-catching statistic: Ferrari's operating margin is nearly 3 times higher than other automakers'. In fact, Ferrari's operating margin typically hovers between 25% and 30%, while most automakers struggle to top 10%.
Much of Ferrari's profitability is driven by its sky-high price tags, made possible by the exclusivity that comes with selling only thousands of vehicles per year (13,221 vehicles in 2022), compared to the millions that some mainstream auto companies sell globally.
Moreover, Ferrari's target audience is an ultra-wealthy group of consumers that are less impacted by economic downturns, making its business more stable than mainstream automakers that are heavily impacted by economic cycles.
And while Ferrari is often overlooked, its stock has quietly outperformed more well-known automakers over the past three years -- by a large margin.
RACE data by YCharts
Ferrari certainly fits the bill as an overlooked gem, and one that savvy investors should consider buying for the long haul.
The next big EV company?
The world is transitioning to electric vehicles (EVs), and just about any investor would love to find the next Tesla-like high-flying stock. While that's far easier said than done, Rivian Automotive (NASDAQ: RIVN) has quietly been putting together a solid 2023.
The maker of electric SUVs and trucks disappointed investors with a production slowdown in early 2023, but after the company adjusted assembly line production, deliveries have bounced back nicely, and the gap between production and deliveries continues to narrow, suggesting that demand remains strong.
Data source: Rivian. Chart by author.
Rivian has also increased its full-year production guidance two quarters in a row. It now sits at 54,000 -- up from 24,000 in 2022 -- which could prove conservative by year-end. Further, management improved its guidance for full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and reduced its capital expenditure guidance during the third quarter.
As Rivian quietly bounced back with production improvements, the company was also transforming its supply chain and reducing labor, overhead, inventory, and logistics costs to improve gross profit per unit by roughly $2,000 during the third quarter 2023, compared to the second quarter. There should be even more benefits to those cost reductions in the coming quarters.
While Rivian remains a young company burning through cash, its net cash used in operating activities declined during the third quarter to $877 million, compared to the year-ago period's $1.37 billion -- and it has a $9.13 billion cash pile to fund its operations.
Finding the next Tesla won't be easy, but as mass adoption takes place for EVs, Rivian is making a lot of smart moves and selling in historically more profitable SUV and truck segments.
A well-connected company
It wouldn't take more than a presentation or two from Aptiv (NYSE: APTV) to overwhelm many investors, so let's simplify the company's many ambitions.
Consider Aptiv a company that produces technology, products, and solutions that align with automotive megatrends such as safety, a future with zero emissions, and seamless connectivity. Essentially, Aptiv is a technology company that will foster the growth of autonomous vehicles in smart cities, and plans to expand into adjacent markets where applicable.
Year to date, Aptiv's revenue has jumped 18% over the prior-year period to $15 billion, while the company generated $1.27 billion from operations. It returned nearly $100 million to shareholders through buybacks, leaving roughly $1.9 billion available for future share repurchases.
Aptiv's many complicated acquisitions and technologies might turn some investors away, but the company remains uniquely positioned to thrive in the decades ahead as the automotive industry transitions to electric and increasingly connected vehicles and autonomous driving technologies.
Worth a look
Many investors overlook Ferrari due to its being in the capital-intensive auto manufacturing business, Rivian as it trails Tesla's lofty production numbers, and Aptiv due to its complexity. However, these three often overlooked stocks are tantalizing hidden gems in the stock market, and could drive your portfolio higher in the decades ahead as the automotive industry is on the cusp of massive evolution toward a safer, cleaner, and more connected future.
10 stocks we like better than Rivian Automotive
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 Rivian Automotive 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 November 27, 2023
Daniel Miller has positions in Ford Motor Company and General Motors. The Motley Fool has positions in and recommends Aptiv Plc, Porsche Automobil Se, Tesla, and Volkswagen Ag. The Motley Fool recommends Bayerische Motoren Werke Aktiengesellschaft, General Motors, and Stellantis and recommends the following options: long January 2025 $25 calls on General Motors. 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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Burning rubber While Ferrari's (NYSE: RACE) vehicles and its iconic logo are well known, the stock is often overlooked by investors as it sits in the capital-intensive and historically low-margin automotive industry. Finding the next Tesla won't be easy, but as mass adoption takes place for EVs, Rivian is making a lot of smart moves and selling in historically more profitable SUV and truck segments. Essentially, Aptiv is a technology company that will foster the growth of autonomous vehicles in smart cities, and plans to expand into adjacent markets where applicable.
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As Rivian quietly bounced back with production improvements, the company was also transforming its supply chain and reducing labor, overhead, inventory, and logistics costs to improve gross profit per unit by roughly $2,000 during the third quarter 2023, compared to the second quarter. Aptiv's many complicated acquisitions and technologies might turn some investors away, but the company remains uniquely positioned to thrive in the decades ahead as the automotive industry transitions to electric and increasingly connected vehicles and autonomous driving technologies. However, these three often overlooked stocks are tantalizing hidden gems in the stock market, and could drive your portfolio higher in the decades ahead as the automotive industry is on the cusp of massive evolution toward a safer, cleaner, and more connected future.
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As Rivian quietly bounced back with production improvements, the company was also transforming its supply chain and reducing labor, overhead, inventory, and logistics costs to improve gross profit per unit by roughly $2,000 during the third quarter 2023, compared to the second quarter. While Rivian remains a young company burning through cash, its net cash used in operating activities declined during the third quarter to $877 million, compared to the year-ago period's $1.37 billion -- and it has a $9.13 billion cash pile to fund its operations. Aptiv's many complicated acquisitions and technologies might turn some investors away, but the company remains uniquely positioned to thrive in the decades ahead as the automotive industry transitions to electric and increasingly connected vehicles and autonomous driving technologies.
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Here are three auto stocks that many investors may be overlooking, but shouldn't. As Rivian quietly bounced back with production improvements, the company was also transforming its supply chain and reducing labor, overhead, inventory, and logistics costs to improve gross profit per unit by roughly $2,000 during the third quarter 2023, compared to the second quarter. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Rivian Automotive wasn't one of them!
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d3ee0515-e39f-4805-b270-cd61fba169f1
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715012.0
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2023-12-01 00:00:00 UTC
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3 No-Brainer Stocks I'd Buy Right Now Without Hesitation
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https://www.nasdaq.com/articles/3-no-brainer-stocks-id-buy-right-now-without-hesitation-14
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The stock market looks set to close out 2023 with a bang.
After slumping through most of the second half of the year, the S&P 500 has gained 8.6% month to date through Nov. 28, and investors are increasing their wagers that interest rates will come down in 2024, which should help lift stocks in the new year.
If you're looking to capitalize on the renewed stock market rally, you're in the right place. Keep reading to see three stocks you can buy right now without batting an eye.
Image source: Getty Images.
1. Taiwan Semiconductor
If you're not familiar with Taiwan Semiconductor Manufacturing Company (NYSE: TSM), it might be the most important company you've never heard of.
TSMC is the world's biggest manufacturer of semiconductors and its market cap of around $500 billion is representative of its importance in the global economy. While chip designers like Nvidia and Advanced Micro Devices might get more attention, TSMC plays a vital role in the chip supply chain as it's the biggest fabricator of semiconductors, and its top customers include Apple, Qualcomm, Broadcom, AMD, and Nvidia.
TSMC even just signed a new deal with Intel, which is one of the few major chip designers that does its own fabs. More specifically, Intel has contracted some fabricating work to TSMC, which is making its consumer-facing graphics processing units.
TSMC produces about 55% of third-party chips in the world, and it makes around 90% of advanced semiconductors, the kind that are used for high-tech applications like artificial intelligence (AI) and quantum computing, areas that tend to have higher barriers to entry.
That scale and expertise give TSMC a huge economic moat. You might expect a stock with this much market power to be expensive, but shares actually trade at a discount to the S&P 500, valued at a price-to-earnings ratio of 18, and it should benefit from the rebound in the chip sector and strong demand for AI chips. TSMC also offers a dividend with a yield of 1.9%, making the stock suitable for any portfolio.
2. The Trade Desk
Sector leaders are always attractive and one stock that has a long track record of beating the market is The Trade Desk (NASDAQ: TTD), the leading independent demand-side platform (DSP) in adtech.
The Trade Desk helps agencies and brands run digital ad campaigns and maximize their return on investment. The company has grown rapidly by developing strong relationships with agencies; making an easy-to-use, self-serve, programmatic ad-buying platform; and consistently releasing new technology like its cookie-less tracking protocol Unified ID 2.0 (UID2) and Kokai, its new AI-based algorithmic ad-buying platform.
The Trade Desk's customers are clearly pleased with its services as the company has reported a retention rate of at least 95% every quarter for the past nine years. It's also delivered strong growth even during a cyclical downturn in the digital advertising industry. However, the stock recently fell after management gave subpar guidance in its third-quarter earnings report, which sets up a buying opportunity for investors.
The stock isn't cheap, but the digital ad market seems to be on the mend as earlier fears of a recession now seem overblown, and leading digital platforms like Google and Facebook are seeing an acceleration in ad spending. Going into 2024, The Trade Desk seems well positioned to benefit from the ongoing rebound in ad spend, a post-cookies world as Google is expected to ban third-party cookies from Chrome in the second half of the year, and as it rolls out new innovations from Kokai.
3. Bank of America
Few sectors are more cyclical or at the mercy of outside forces than banking, but the rebound in the stock market, increasing expectations that interest rates will fall, and a recovering initial public offering (IPO) market bode well for Bank of America (NYSE: BAC) heading into 2024.
The company's own forecast no longer calls for a recession as it sees economic growth hitting a trough in the middle of next year, and shares of the stock look well priced right now if you believe the economy will soon be on a stable path to growth. Bank of America trades at a P/E ratio of just 8.3, close to the lowest it's been in the last decade, and an environment in which consumer and business spending is recovering and interest rates remain high could be ideal for the Wall Street bank. If its P/E multiple expands back to 12, a more normal valuation for the company, that would translate into near 50% growth for the stock even without any increased profits.
The bank stock also offers a strong dividend yield at 3.3%, and the company has plenty of firepower to lift the stock through dividend hikes and share buybacks as well.
Bank of America CEO Brian Moynihan is regarded as one of the best in the industry and has been lauded by Warren Buffett, whose Berkshire Hathaway conglomerate counts Bank of America as its second-largest holding.
Even if the economic recovery doesn't come as expected, Bank of America's low valuation and strong balance sheet will help the stock withstand a potential recession and rebound successfully over the long run.
Find out why The Trade Desk is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. The Trade Desk is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of November 27, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Bank of America is an advertising partner of The Ascent, a Motley Fool company. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jeremy Bowman has positions in Bank of America, Broadcom, Meta Platforms, and The Trade Desk. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Bank of America, Berkshire Hathaway, Meta Platforms, Nvidia, Qualcomm, Taiwan Semiconductor Manufacturing, and The Trade Desk. The Motley Fool recommends Broadcom and Intel and recommends the following options: long January 2023 $57.50 calls on Intel and long January 2025 $45 calls on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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TSMC produces about 55% of third-party chips in the world, and it makes around 90% of advanced semiconductors, the kind that are used for high-tech applications like artificial intelligence (AI) and quantum computing, areas that tend to have higher barriers to entry. Going into 2024, The Trade Desk seems well positioned to benefit from the ongoing rebound in ad spend, a post-cookies world as Google is expected to ban third-party cookies from Chrome in the second half of the year, and as it rolls out new innovations from Kokai. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Bank of America, Berkshire Hathaway, Meta Platforms, Nvidia, Qualcomm, Taiwan Semiconductor Manufacturing, and The Trade Desk.
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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Bank of America, Berkshire Hathaway, Meta Platforms, Nvidia, Qualcomm, Taiwan Semiconductor Manufacturing, and The Trade Desk. The Motley Fool recommends Broadcom and Intel and recommends the following options: long January 2023 $57.50 calls on Intel and long January 2025 $45 calls on Intel.
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The Trade Desk Sector leaders are always attractive and one stock that has a long track record of beating the market is The Trade Desk (NASDAQ: TTD), the leading independent demand-side platform (DSP) in adtech. Bank of America Few sectors are more cyclical or at the mercy of outside forces than banking, but the rebound in the stock market, increasing expectations that interest rates will fall, and a recovering initial public offering (IPO) market bode well for Bank of America (NYSE: BAC) heading into 2024. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Bank of America, Berkshire Hathaway, Meta Platforms, Nvidia, Qualcomm, Taiwan Semiconductor Manufacturing, and The Trade Desk.
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Bank of America Few sectors are more cyclical or at the mercy of outside forces than banking, but the rebound in the stock market, increasing expectations that interest rates will fall, and a recovering initial public offering (IPO) market bode well for Bank of America (NYSE: BAC) heading into 2024. The Trade Desk is on the list -- but there are nine others you may be overlooking. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Bank of America, Berkshire Hathaway, Meta Platforms, Nvidia, Qualcomm, Taiwan Semiconductor Manufacturing, and The Trade Desk.
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2023-12-01 00:00:00 UTC
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US STOCKS-S&P 500 hits 2023 closing high as Powell strengthens peak rate bets
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-sp-500-hits-2023-closing-high-as-powell-strengthens-peak-rate-bets
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Powell acknowledges risks of over-tightening
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ISM shows U.S. manufacturing weakness persists
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Pfizer dips as obesity drug trial dropped
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Indexes up: Dow 0.82%, S&P 0.59%, Nasdaq 0.55%
(Updates with closing prices)
By Stephen Culp
NEW YORK, Dec 1 (Reuters) - U.S. stocks rallied and the
S&P registered its highest close of the year on Friday, starting
December on an upbeat note as remarks from Federal Reserve Chair
Jerome Powell bolstered the view that key policy rates have
peaked.
All three major U.S. stock indexes advanced, with
economically sensitive transports <.DJT> and smallcaps <.RUT>
enjoying the most robust gains.
"Those sectors - the cyclicals - they're the most hated
parts of the market year-to-date, (and they) are the parts that
are leading," said Scott Ladner, chief investment officer at
Horizon Investments in Charlotte, North Carolina. "On the first
day of December, when everybody's looking for a Santa Claus
rally, it probably carries a little bit of extra weight."
"If December starts out strong, it's going to make folks
jump on board and chase this rally," Ladner added.
All three indexes notched their fifth consecutive weekly
percentage gains. On Thursday, they wrapped up a banner month in
which the S&P 500 and the Nasdaq registered their biggest
one-month percentage gains since July 2022, and the Dow closed
at its highest level since January 2022.
In prepared remarks, Powell acknowledged the central bank's
need to "move forward carefully" amid signs of economic
softening, as the risks of over- and under-tightening its
monetary policy are becoming more balanced.
"Earlier in the week, (Fed Governor Christopher) Waller, one
of the Fed's biggest hawks, said as inflation decreases, we're
going to drop rates," Ladner said. "The market thought that
Powell would push against those remarks, and he didn't.
"(Powell) is setting the market up for rate cuts next
year."
Data released on Friday showed U.S. manufacturing continues
to contract as factories contend with decreasing new orders,
falling inventories and labor pressures.
The Dow Jones Industrial Average <.DJI> rose 294.61 points,
or 0.82%, to 36,245.5, the S&P 500 <.SPX> gained 26.83 points,
or 0.59%, at 4,594.63 and the Nasdaq Composite <.IXIC> added
78.81 points, or 0.55%, at 14,305.03.
Among the 11 major sectors of the S&P 500, real estate
<.SPLRCR> was the biggest percentage gainer, while communication
services <.SPLRCL> was the sole decliner.
Pfizer
slid
5.1
% as the drugmaker dropped plans to advance a twice-daily
version of oral weight-loss drug danuglipron into late-stage
studies, delaying its entry into the lucrative market.
U.S.-listed shares of
Alibaba
slipped
1.2
% following Morgan Stanley's downgrade of the e-commerce
giant's stock.
Marvell Technology
shed
5.3
% after the chipmaker's fourth-quarter revenue forecast fell
short of Street estimates.
Ulta Beauty
surged
10.8
after the cosmetics retailer raised the lower end of its
annual net sales forecast and named Paula Oyibo its new chief
financial officer.
Paramount Global
jumped
9.8
% following a report the media company and Apple
have discussed bundling their streaming services at a discount.
Advancing issues outnumbered decliners on the NYSE by a
5.93-to-1 ratio; on Nasdaq, a 3.32-to-1 ratio favored advancers.
The S&P 500 posted 59 new 52-week highs and one new low;
the Nasdaq Composite recorded 106 new highs and 82 new lows.
Volume on U.S. exchanges was 12.34 billion shares,
compared with the 10.58 billion average for the full session
over the last 20 trading days.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
U.S. inflation is falling https://tmsnrt.rs/3R3OjrB
Inflation gauges https://tmsnrt.rs/3Rng8MU
ISM PMI https://tmsnrt.rs/3T3Yqzi
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Stephen Culp; Additional reporting by Shristi
Achar A and Amruta Khandekar in Bengaluru; Editing by Richard
Chang)
((stephen.culp@thomsonreuters.com; 646-223-6076))
Keywords: USA STOCKS/ (UPDATE 7, GRAPHIC)
The views and 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 prepared remarks, Powell acknowledged the central bank's need to "move forward carefully" amid signs of economic softening, as the risks of over- and under-tightening its monetary policy are becoming more balanced. Pfizer slid 5.1 % as the drugmaker dropped plans to advance a twice-daily version of oral weight-loss drug danuglipron into late-stage studies, delaying its entry into the lucrative market. Ulta Beauty surged 10.8 after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.
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(Updates with closing prices) By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks rallied and the S&P registered its highest close of the year on Friday, starting December on an upbeat note as remarks from Federal Reserve Chair Jerome Powell bolstered the view that key policy rates have peaked. All three major U.S. stock indexes advanced, with economically sensitive transports <.DJT> and smallcaps <.RUT> enjoying the most robust gains. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ U.S. inflation is falling https://tmsnrt.rs/3R3OjrB Inflation gauges https://tmsnrt.rs/3Rng8MU ISM PMI https://tmsnrt.rs/3T3Yqzi ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Stephen Culp; Additional reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Richard Chang) ((stephen.culp@thomsonreuters.com; 646-223-6076))
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(Updates with closing prices) By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks rallied and the S&P registered its highest close of the year on Friday, starting December on an upbeat note as remarks from Federal Reserve Chair Jerome Powell bolstered the view that key policy rates have peaked. The Dow Jones Industrial Average <.DJI> rose 294.61 points, or 0.82%, to 36,245.5, the S&P 500 <.SPX> gained 26.83 points, or 0.59%, at 4,594.63 and the Nasdaq Composite <.IXIC> added 78.81 points, or 0.55%, at 14,305.03. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ U.S. inflation is falling https://tmsnrt.rs/3R3OjrB Inflation gauges https://tmsnrt.rs/3Rng8MU ISM PMI https://tmsnrt.rs/3T3Yqzi ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Stephen Culp; Additional reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Richard Chang) ((stephen.culp@thomsonreuters.com; 646-223-6076))
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* Indexes up: Dow 0.82%, S&P 0.59%, Nasdaq 0.55% (Updates with closing prices) By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks rallied and the S&P registered its highest close of the year on Friday, starting December on an upbeat note as remarks from Federal Reserve Chair Jerome Powell bolstered the view that key policy rates have peaked. On Thursday, they wrapped up a banner month in which the S&P 500 and the Nasdaq registered their biggest one-month percentage gains since July 2022, and the Dow closed at its highest level since January 2022.
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715014.0
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2023-12-01 00:00:00 UTC
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2 No-Brainer Buys During a Stock Market Crash
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https://www.nasdaq.com/articles/2-no-brainer-buys-during-a-stock-market-crash
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Fears of a stock market crash appear to have subsided over the last year. The worst of the bear market that began in 2022 has turned into a rebound this year, driven in part by excitement over new generative artificial intelligence (AI) technologies and signs that the economy has been more resilient than expected. More recently, investors are increasing their bets that the Federal Reserve is done raising interest rates, with some predicting it could even start lowering them in the first half of 2024.
However, there's a risk of a stock market crash in any environment. A black swan event could sink markets overnight, and even more routine threats to investors typically begin unseen. Meanwhile, there's still a risk of a recession heading into 2024.
Savvy investors know that crashes, though painful, can be buying opportunities, especially for stocks that are proven winners. On that note, keep reading to see two stocks that would be great buys in a stock market crash.
Image source: Getty Images.
1. MercadoLibre
The past few years have acted as a crucible for stocks as companies have had to endure and adapt to a pandemic and the economic shifts that it caused, followed by the unraveling of those trends in the economic reopening as pre-pandemic behavioral patterns reestablished themselves.
Few stocks have handled the volatility of the last few years as well as MercadoLibre (NASDAQ: MELI), the Latin American e-commerce and digital payments company. The chart below helps illustrate the company's performance.
MELI data by YCharts
As you can see, revenue growth surged during the pandemic, but it has remained strong even as it's come down in the reopening, reaccelerating in the most recent quarter. Currency-neutral revenue growth is even stronger, coming in at 69% in the third quarter.
What's more impressive is how the company's operating margin has surged, even in an environment that has challenged most of its e-commerce and digital payments peers. That's evidence of the company's competitive advantages, which include a network of interconnected businesses like e-commerce, digital payments, logistics, and consumer financing.
The company has also leveraged the strength of core businesses like e-commerce to add on higher-margin businesses like advertising, consumer financing, its third-party marketplace, and digital payments. That explains why its operating margin reached a record of 18.2% in the third quarter.
What's also notable about the chart above is that the stock declined sharply from its peak in 2021, even as its underlying performance remained strong. If this pattern repeats itself in the next market crash, MercadoLibre looks like a clear no-brainer buy.
2. Remitly Global
Another payments company that looks like a smart buy in a market crash is Remitly Global (NASDAQ: RELY), a digital-first remittance specialist. Remitly helps millions of immigrants send money to loved ones back home, and it's disrupting traditional leaders like Western Union and Moneygram.
Most of the payments industry is cyclical, subject to business health and consumer discretionary spending, but remittances are the exception to the rule. That's because these are essential payments for relatives back home. The International Monetary Fund found that during the Great Financial Crisis, migrants received lower incomes, but absorbed those losses by cutting consumption or rent spending, continuing to send money back home. Globally, both remittances and migrants continued to rise during the recession that started in 2008.
That bodes well for Remitly, which was founded in 2011 but has grown rapidly. In its most recent quarter, revenue rose 43% to $241.6 million, driven by 42% growth in active customers to 5.4 million and a 36% increase in send volume to $10.2 billion. The company also flipped to a profit on an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis with $10.5 million in EBITDA, compared to a loss of $3.7 million in the quarter a year ago.
The stock actually fell on the news. High expectations seemed to be baked in coming into the report, even as it raised its full-year guidance, and shares have been volatile since the stock's 2021 IPO.
Despite the pullback, Remitly is rapidly penetrating an addressable market of close to $1 trillion. An extended pullback in a stock market crash would look like a good buying opportunity, especially as the company's business is unlikely to be significantly affected by a downturn.
Find out why MercadoLibre is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. MercadoLibre is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of November 28, 2023
Jeremy Bowman has positions in MercadoLibre. The Motley Fool has positions in and recommends MercadoLibre. 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 worst of the bear market that began in 2022 has turned into a rebound this year, driven in part by excitement over new generative artificial intelligence (AI) technologies and signs that the economy has been more resilient than expected. Remitly helps millions of immigrants send money to loved ones back home, and it's disrupting traditional leaders like Western Union and Moneygram. The International Monetary Fund found that during the Great Financial Crisis, migrants received lower incomes, but absorbed those losses by cutting consumption or rent spending, continuing to send money back home.
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Few stocks have handled the volatility of the last few years as well as MercadoLibre (NASDAQ: MELI), the Latin American e-commerce and digital payments company. Remitly helps millions of immigrants send money to loved ones back home, and it's disrupting traditional leaders like Western Union and Moneygram. The International Monetary Fund found that during the Great Financial Crisis, migrants received lower incomes, but absorbed those losses by cutting consumption or rent spending, continuing to send money back home.
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On that note, keep reading to see two stocks that would be great buys in a stock market crash. Few stocks have handled the volatility of the last few years as well as MercadoLibre (NASDAQ: MELI), the Latin American e-commerce and digital payments company. Remitly Global Another payments company that looks like a smart buy in a market crash is Remitly Global (NASDAQ: RELY), a digital-first remittance specialist.
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On that note, keep reading to see two stocks that would be great buys in a stock market crash. If this pattern repeats itself in the next market crash, MercadoLibre looks like a clear no-brainer buy. In its most recent quarter, revenue rose 43% to $241.6 million, driven by 42% growth in active customers to 5.4 million and a 36% increase in send volume to $10.2 billion.
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6f94f60f-bb02-429e-82dc-fdbb4faf4fdd
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715015.0
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2023-12-01 00:00:00 UTC
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This Magnificent Growth Stock Is Crushing the Market, and You May Regret Not Buying It Hand Over Fist Right Now
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https://www.nasdaq.com/articles/this-magnificent-growth-stock-is-crushing-the-market-and-you-may-regret-not-buying-it-hand
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Shares of Zscaler (NASDAQ: ZS) have crushed the broader technology sector this year with an impressive gain of 77%, significantly higher than the Nasdaq Composite's 36% rise, and it looks like this cybersecurity specialist could be heading higher after its latest earnings report.
Zscaler released fiscal 2024 first-quarter results (ended Oct. 31) on Nov. 27. The company's revenue and earnings were well ahead of what Wall Street was anticipating. What's more, its guidance was also better than the consensus estimates. Still, Zscaler stock remained almost flat following the earnings report as it didn't raise its full-year billings guidance. Management adopted a conservative approach on account of potentially cautious spending from customers.
However, the absence of a post-earnings spike in Zscaler stock could be an opportunity for savvy investors to buy more shares of this cybersecurity company before it gets more expensive. Let's look at the reasons why.
Zscaler continues to grow at an impressive pace
Zscaler's fiscal Q1 revenue jumped 40% year over year to $497 million. The company's non-GAAP (adjusted) net income increased at a much faster pace of 131% over the year-ago quarter to $0.67 per share. Analysts were expecting $0.49 per share in earnings on revenue of $473 million, but the healthy growth in spending from existing customers allowed the company to cruise past those estimates.
Zscaler witnessed a 22% year-over-year increase in the number of customers who have generated over $100,000 in annual recurring revenue (ARR) for the company. Meanwhile, the number of customers with an ARR of more than $1 million jumped 34%. These high-value customers are adopting multiple cybersecurity services that the company offers. CEO Jay Chaudhry remarked on the latest earnings conference call:
We also achieved a record for new pipeline generation in a quarter. More customers are adopting our broader platform to consolidate multiple-point products, increasing our average deal size. As a result, we are actively working on more large, multiyear, multi-pillar opportunities than ever before.
All this explains why Zscaler finished the quarter with a dollar-based net retention rate of 120%. This metric compares the spending of a company's customers during the trailing-12-month period to the spending by the same customer cohort in the year-ago period. So, a reading of more than 100% suggests the company's existing customer base is purchasing more of its offerings or expanding the use of current solutions.
The strength of these recent results led the company to raise its full-year revenue and earnings guidance. It now expects fiscal 2024 revenue to increase between 29% and 30% year over year to a range of $2.09 billion to $2.10 billion. Zscaler has also increased its earnings per share guidance to a range of $2.45 to $2.48, thanks to a jump of 250 basis points in its operating margin.
However, the company maintained the full-year billings guidance in the range of $2.52 billion to $2.56 billion, which would be an increase of 24% to 26% over fiscal 2023. That outlook fell slightly short of the $2.55 billion consensus estimate at the midpoint, but investors would do well to focus on the bigger picture as Zscaler is on track to grow nicely in fiscal 2024 despite anticipating cautious spending from customers.
CFO Remo Canessa points out that "the global macro environment remains challenging and customers continue to scrutinize large deals." But he went on to add that Zscaler is witnessing stability in customer sentiment. Canessa also added that the company has a "large and growing pipeline," which is evident from the 39% growth in deferred revenue last quarter to $1.4 billion.
That nearly matched the company's actual revenue growth, and it suggests Zscaler is on track to achieve its full-year revenue target, as this metric refers to money collected by a company for services that will be rendered at a future date.
Why investors should buy the stock right now
Zscaler operates in the fast-growing cloud cybersecurity market, which is estimated to clock a compound annual growth rate of 26% through 2030 and generate almost $85 billion in revenue at the end of the forecast period, according to Verified Market Research. The firm estimates this market generated almost $11 billion in revenue in 2021, which means Zscaler could be at the beginning of a solid growth curve considering the secular opportunity it can tap into long term.
Not surprisingly, analysts are expecting the company to deliver consistently robust top-line growth over the next three years.
Data by YCharts.
They also expect 36% annual earnings growth over the next five years. As such, now would be a good time for investors to buy this growth stock, considering the relatively cheaper multiples it's trading at as of this writing. Zscaler has a price-to-sales ratio of 16 and forward earnings multiple of 67. That's a premium to the broad market, but those readings are lower than its five-year averages of 30 and 149, respectively.
Assuming Zscaler does hit the $3.27 billion revenue estimate in fiscal 2026 and trades at a discounted sales multiple of 15 at that time, which would be half the five-year average sales multiple, its market cap could jump to $49 billion within the next three years. That would be a 72% increase from current levels, which is why investors would do well to buy this stock before it soars higher.
10 stocks we like better than Zscaler
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 Zscaler 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 November 28, 2023
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Zscaler. 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 were expecting $0.49 per share in earnings on revenue of $473 million, but the healthy growth in spending from existing customers allowed the company to cruise past those estimates. That outlook fell slightly short of the $2.55 billion consensus estimate at the midpoint, but investors would do well to focus on the bigger picture as Zscaler is on track to grow nicely in fiscal 2024 despite anticipating cautious spending from customers. The firm estimates this market generated almost $11 billion in revenue in 2021, which means Zscaler could be at the beginning of a solid growth curve considering the secular opportunity it can tap into long term.
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Zscaler continues to grow at an impressive pace Zscaler's fiscal Q1 revenue jumped 40% year over year to $497 million. Analysts were expecting $0.49 per share in earnings on revenue of $473 million, but the healthy growth in spending from existing customers allowed the company to cruise past those estimates. That nearly matched the company's actual revenue growth, and it suggests Zscaler is on track to achieve its full-year revenue target, as this metric refers to money collected by a company for services that will be rendered at a future date.
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That nearly matched the company's actual revenue growth, and it suggests Zscaler is on track to achieve its full-year revenue target, as this metric refers to money collected by a company for services that will be rendered at a future date. Why investors should buy the stock right now Zscaler operates in the fast-growing cloud cybersecurity market, which is estimated to clock a compound annual growth rate of 26% through 2030 and generate almost $85 billion in revenue at the end of the forecast period, according to Verified Market Research. Assuming Zscaler does hit the $3.27 billion revenue estimate in fiscal 2026 and trades at a discounted sales multiple of 15 at that time, which would be half the five-year average sales multiple, its market cap could jump to $49 billion within the next three years.
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Zscaler continues to grow at an impressive pace Zscaler's fiscal Q1 revenue jumped 40% year over year to $497 million. The strength of these recent results led the company to raise its full-year revenue and earnings guidance. Why investors should buy the stock right now Zscaler operates in the fast-growing cloud cybersecurity market, which is estimated to clock a compound annual growth rate of 26% through 2030 and generate almost $85 billion in revenue at the end of the forecast period, according to Verified Market Research.
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2130d96f-18d1-45b1-a0e5-7bb77997275a
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715016.0
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2023-12-01 00:00:00 UTC
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Pre-Market Earnings Report for December 4, 2023 : SAIC, HTOO
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https://www.nasdaq.com/articles/pre-market-earnings-report-for-december-4-2023-%3A-saic-htoo
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The following companies are expected to report earnings prior to market open on 12/04/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION (SAIC)is reporting for the quarter ending October 31, 2023. The information technology services company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.66. This value represents a 12.63% decrease compared to the same quarter last year. In the past year SAIC has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 28.12%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for SAIC is 15.87 vs. an industry ratio of 17.80.
Fusion Fuel Green PLC (HTOO)is reporting for the quarter ending September 30, 2023. The industrial services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.24. This value represents a 7.69% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HTOO is -0.90 vs. an industry ratio of 13.80.
The views and 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 information technology services company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.66. Fusion Fuel Green PLC (HTOO)is reporting for the quarter ending September 30, 2023. The industrial services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.24.
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Zacks Investment Research reports that the 2024 Price to Earnings ratio for SAIC is 15.87 vs. an industry ratio of 17.80. The industrial services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.24. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HTOO is -0.90 vs. an industry ratio of 13.80.
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Zacks Investment Research reports that the 2024 Price to Earnings ratio for SAIC is 15.87 vs. an industry ratio of 17.80. The industrial services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.24. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HTOO is -0.90 vs. an industry ratio of 13.80.
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In the past year SAIC has beat the expectations every quarter. The industrial services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.24. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HTOO is -0.90 vs. an industry ratio of 13.80.
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2023-12-01 00:00:00 UTC
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What Are the Top Tech Stocks to Buy Right Now? 3 Picks.
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https://www.nasdaq.com/articles/what-are-the-top-tech-stocks-to-buy-right-now-3-picks.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The top tech stocks are more just the “Magnificent Seven” list or the next big thing in artificial intelligence. Today, in a higher interest rate environment, you can’t afford to gamble on companies with limited long-term prospects or poor financials. Markets aren’t rewarding bad financial management, nor are they throwing cash at losers with limited viability.
To find the top tech stocks to buy, you’ll need to focus on two core fundamentals. First, look to stocks in a high-demand industry offering unique solutions to common problems through innovation. Second, they need the financial standing to weather whatever economic cycle we see over the next year or so.
These three tech stocks meet the mark and stand as the top tech stocks today.
AST SpaceMobile (ASTS)
Source: Andrey Suslov / Shutterstock.com
AST SpaceMobile (NASDAQ:ASTS) might be the top tech stock in the next few years. The space stock is set to capture part of a $1 trillion industry and has heavy institutional backing.
The company is developing a network of low-earth satellites to deliver broadband connectivity to remote regions. This differs from Starlink and Amazon’s (NASDAQ:AMZN) burgeoning space internet effort because it focuses solely on cell connectivity. Although cell towers are globally dispersed, key rural and remote areas are wholly without service. AST SpaceMobile seeks to close that gap.
Recently, AST partnered with AT&T (NYSE:T) to complete the first satellite-enabled 5G call from Hawaii to Spain. This test proved AST’s viability, and AT&T hopes to use the company to increase its global position and open new markets in a saturated field. AST shares are already up 40% over the past month. Still, shares are priced to buy at less than $5 each, particularly considering its status as a top tech stock to buy.
Symbotic (SYM)
Source: shutterstock.com/everything possible
Symbotic (NASDAQ:SYM) might not be the coolest tech stock on the market, but the artificial intelligence and automation company is quietly expanding its massive reach. SYM delivers AI solutions to warehousing, a critical sector as eCommerce explodes and companies with dispersed operations struggle to manage inventory and product movement.
Symbotic’s clients already include Walmart (NYSE:WMT) and Target (NYSE:TGT). Industry reliance on that scale alone positions Symbotic as a top tech stock. But today, the company is increasing its reach to deliver AI warehouse automation to smaller businesses.
The company’s new shared-warehouse platform compounds its utility. Warehouse infrastructure is expanding rapidly as companies pivot to an online-only fulfillment model. These trends, and Symbotic’s unique value proposition, set it apart from other tech stocks today.
The company just posted its first profitable quarter, which bodes well for its long-term financial prospects. Rapid revenue growth and improved margins, alongside its new addressable market reach, position Symbotic as a future leader in the tech industry.
AeroVironment (AVAV)
Source: Pavel Kapysh / Shutterstock.com
AeroVironment (NASDAQ:AVAV) is a lesser-known tech stock. That’s mostly because it’s also a defense stock and goes unnoticed in the bigger defense sector. The company offers a range of unmanned drones for military applications, but its unique tech focus makes it different from larger defense players.
Recently, the company unveiled a massive new unmanned aircraft, the JUMP 20 Group 3, and deployed the platform during a training exercise. The aircraft is unique because it doesn’t focus solely on surveillance or offensive weapons capabilities. Instead, it’s an electronic warfare platform that denies enemy communications capabilities. These tech-heavy platforms aren’t usually unmanned but are a critical part of today’s battlefield capabilities. Unmanned electronic warfare is a huge step forward for the defense industry and AeroVironment and one that could turn this tech stock into a huge player moving forward.
The company is leaning into its tech stock position by preparing to buy Tomahawk Robotics. The $120 million acquisition represents streamlined operations because Tomahawk already supplies core hardware capabilities within AVAV’s drone fleet. AVAV’s financial position is enough to pay the steep price tag, a bullish indicator, while the buyout will improve AVAV’s margins over time.
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 What Are the Top Tech Stocks to Buy Right Now? 3 Picks. 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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SYM delivers AI solutions to warehousing, a critical sector as eCommerce explodes and companies with dispersed operations struggle to manage inventory and product movement. Rapid revenue growth and improved margins, alongside its new addressable market reach, position Symbotic as a future leader in the tech industry. The company offers a range of unmanned drones for military applications, but its unique tech focus makes it different from larger defense players.
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AST SpaceMobile (ASTS) Source: Andrey Suslov / Shutterstock.com AST SpaceMobile (NASDAQ:ASTS) might be the top tech stock in the next few years. Symbotic (SYM) Source: shutterstock.com/everything possible Symbotic (NASDAQ:SYM) might not be the coolest tech stock on the market, but the artificial intelligence and automation company is quietly expanding its massive reach. But today, the company is increasing its reach to deliver AI warehouse automation to smaller businesses.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips The top tech stocks are more just the “Magnificent Seven” list or the next big thing in artificial intelligence. AST SpaceMobile (ASTS) Source: Andrey Suslov / Shutterstock.com AST SpaceMobile (NASDAQ:ASTS) might be the top tech stock in the next few years. Symbotic (SYM) Source: shutterstock.com/everything possible Symbotic (NASDAQ:SYM) might not be the coolest tech stock on the market, but the artificial intelligence and automation company is quietly expanding its massive reach.
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These three tech stocks meet the mark and stand as the top tech stocks today. Industry reliance on that scale alone positions Symbotic as a top tech stock. But today, the company is increasing its reach to deliver AI warehouse automation to smaller businesses.
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715018.0
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2023-12-01 00:00:00 UTC
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Is Novavax Stock a Buy Now?
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https://www.nasdaq.com/articles/is-novavax-stock-a-buy-now-4
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Biotech company Novavax (NASDAQ: NVAX) went from being relatively unknown just four years ago to becoming one of the U.S. COVID-19 vaccine market leaders. The company has faced many trials and tribulations in this period, however. And in the past three years, the stock is down by a whopping 94%.
If Novavax can mount a comeback, now may be as good a time as any to press the buy button while its shares are changing hands for just about $5.46 apiece.
Or perhaps Novavax hasn't hit rock bottom yet and will continue to see its share price plunge. Which scenario is more likely? Let's dig in and find out.
NVAX data by YCharts.
The tricky COVID-19 vaccine market
While the pandemic isn't officially over, we have made tremendous progress in fighting it, partly thanks to Novavax and other companies that developed and marketed COVID-19 vaccines. However, many of these corporations are now generating substantially lower sales from these products: They are, in a way, victims of their success. Novavax is no different.
In the third quarter, the company's total revenue of almost $187 million was much lower than the total of $734.6 million reported in the year-ago period. And while the market is forward-looking, Novavax's guidance doesn't inspire much confidence. For the fiscal year 2023, it expects its top line to come in between $900 million and $1.1 billion.
Last year, the company's revenue was $2 billion. Of note, Novavax has decreased its guidance this year, as have other leaders in this field, including the team of Pfizer and BioNTech. Here's what that says about Novavax's prospects: The coronavirus vaccine market is hard to predict, and if anything, the demand isn't as high as some had anticipated.
This uncertainty is a significant problem for Novavax since the market does not like uncertainty. Without a clear path forward, making a case to invest in the stock isn't easy.
Is there any hope left for Novavax?
Novavax's problems extend to its pipeline, which is relatively unimpressive. That's one of the differences it has with Moderna, whose coronavirus-related sales have also plummeted this year. However, Moderna has recorded solid clinical progress outside of this one area in the past three years and is inching closer to earning approvals for brand-new products.
That hardly applies to Novavax. While the World Health Organization (WHO) recently recommended a malaria vaccine that uses Novavax's proprietary Matrix-M adjuvant technology and will be rolled out next year, it is also unclear whether it can make significant contributions to the biotech's top line. Furthermore, Novavax's most advanced non-coronavirus products are currently in phase 2 studies. The first is an influenza vaccine, while the other is a combined COVID/flu vaccine.
Both could meet a serious need. Despite the availability of vaccines against the flu, it continues to cause thousands of hospitalizations and deaths every year, especially among the elderly. And having to make one trip to get inoculated against COVID and the flu is much more convenient than two separate trips. However, neither vaccine will earn approval anytime soon. In the best-case scenario, it will take two years, assuming they register positive results in clinical trials.
To add to all these issues, let's not forget that Novavax said at the beginning of the year that it was in a precarious financial situation, although the company has since made efforts to cut expenses. Novavax's hopes don't seem too bright, and that's why short sellers are making a meal of the stock. Most investors might not want to short the stock. However, unless one has a significant tolerance for risk and volatility, Novavax isn't worth investing in right now, not by a long shot.
There are much better biotech stocks to consider on the market.
10 stocks we like better than Novavax
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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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However, Moderna has recorded solid clinical progress outside of this one area in the past three years and is inching closer to earning approvals for brand-new products. While the World Health Organization (WHO) recently recommended a malaria vaccine that uses Novavax's proprietary Matrix-M adjuvant technology and will be rolled out next year, it is also unclear whether it can make significant contributions to the biotech's top line. To add to all these issues, let's not forget that Novavax said at the beginning of the year that it was in a precarious financial situation, although the company has since made efforts to cut expenses.
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Biotech company Novavax (NASDAQ: NVAX) went from being relatively unknown just four years ago to becoming one of the U.S. COVID-19 vaccine market leaders. In the third quarter, the company's total revenue of almost $187 million was much lower than the total of $734.6 million reported in the year-ago period. The Motley Fool recommends BioNTech Se and Moderna.
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Biotech company Novavax (NASDAQ: NVAX) went from being relatively unknown just four years ago to becoming one of the U.S. COVID-19 vaccine market leaders. The tricky COVID-19 vaccine market While the pandemic isn't officially over, we have made tremendous progress in fighting it, partly thanks to Novavax and other companies that developed and marketed COVID-19 vaccines. While the World Health Organization (WHO) recently recommended a malaria vaccine that uses Novavax's proprietary Matrix-M adjuvant technology and will be rolled out next year, it is also unclear whether it can make significant contributions to the biotech's top line.
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Biotech company Novavax (NASDAQ: NVAX) went from being relatively unknown just four years ago to becoming one of the U.S. COVID-19 vaccine market leaders. Novavax is no different. There are much better biotech stocks to consider on the market.
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715019.0
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2023-12-01 00:00:00 UTC
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Health Care Sector Update for 12/01/2023: RANI, PFE, NLSP, EMBC
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https://www.nasdaq.com/articles/health-care-sector-update-for-12-01-2023%3A-rani-pfe-nlsp-embc
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Health care stocks advanced late Friday afternoon with the NYSE Health Care Index higher 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%.
The iShares Biotechnology ETF (IBB) rose 1.1%.
In corporate news, Rani Therapeutics (RANI) shares jumped 18% after the company disclosed Chief Executive Officer Talat Imran bought 20,000 class A common shares at $2.05 apiece on Wednesday.
Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study. Pfizer shares fell 5%.
NLS Pharmaceutics (NLSP) surged 35% after it said Friday it has signed an exclusive option agreement under which it may acquire global development and commercialization rights to Aexon Labs' assets for the potential treatment of narcolepsy and other neuro-degenerative disorders.
Embecta (EMBC) said Friday that a safety notice released by the US Food and Drug Administration related to some plastic syringes doesn't apply to its products. Its shares rose 1.6%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study. NLS Pharmaceutics (NLSP) surged 35% after it said Friday it has signed an exclusive option agreement under which it may acquire global development and commercialization rights to Aexon Labs' assets for the potential treatment of narcolepsy and other neuro-degenerative disorders. Embecta (EMBC) said Friday that a safety notice released by the US Food and Drug Administration related to some plastic syringes doesn't apply to its products.
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Health care stocks advanced late Friday afternoon with the NYSE Health Care Index higher 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%. In corporate news, Rani Therapeutics (RANI) shares jumped 18% after the company disclosed Chief Executive Officer Talat Imran bought 20,000 class A common shares at $2.05 apiece on Wednesday. Pfizer shares fell 5%.
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Health care stocks advanced late Friday afternoon with the NYSE Health Care Index higher 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%. In corporate news, Rani Therapeutics (RANI) shares jumped 18% after the company disclosed Chief Executive Officer Talat Imran bought 20,000 class A common shares at $2.05 apiece on Wednesday. Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study.
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Health care stocks advanced late Friday afternoon with the NYSE Health Care Index higher 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%. Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study. Its shares rose 1.6%.
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715020.0
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2023-12-01 00:00:00 UTC
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Technology Sector Update for 12/01/2023: AAOI, PATH, ESTC, MRVL
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https://www.nasdaq.com/articles/technology-sector-update-for-12-01-2023%3A-aaoi-path-estc-mrvl
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Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor Index adding 0.3%.
In corporate news, Applied Optoelectronics (AAOI) said Friday it has priced an upsized private offering of $80.2 million of 5.25% convertible senior notes due 2026. Its shares surged nearly 23%.
UiPath (PATH) shares jumped 26% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday.
Elastic (ESTC) shares soared 37% after it reported fiscal Q2 non-GAAP diluted earnings of $0.37 per share, compared with a breakeven a year earlier.
Marvell Technology (MRVL) shares fell 5.5% after the company's downbeat outlook for fiscal Q4 led to price-target cuts 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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Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor Index adding 0.3%. In corporate news, Applied Optoelectronics (AAOI) said Friday it has priced an upsized private offering of $80.2 million of 5.25% convertible senior notes due 2026. UiPath (PATH) shares jumped 26% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday.
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Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor Index adding 0.3%. UiPath (PATH) shares jumped 26% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday. Marvell Technology (MRVL) shares fell 5.5% after the company's downbeat outlook for fiscal Q4 led to price-target cuts by analysts.
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UiPath (PATH) shares jumped 26% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday. Elastic (ESTC) shares soared 37% after it reported fiscal Q2 non-GAAP diluted earnings of $0.37 per share, compared with a breakeven a year earlier. Marvell Technology (MRVL) shares fell 5.5% after the company's downbeat outlook for fiscal Q4 led to price-target cuts by analysts.
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Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor Index adding 0.3%. In corporate news, Applied Optoelectronics (AAOI) said Friday it has priced an upsized private offering of $80.2 million of 5.25% convertible senior notes due 2026. Its shares surged nearly 23%.
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c4a95f2e-0609-4a5f-a421-69909e935d17
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715021.0
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2023-12-01 00:00:00 UTC
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This Week in ETFs: Private Equity Fund Debuts
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https://www.nasdaq.com/articles/this-week-in-etfs%3A-private-equity-fund-debuts
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The industry closed out November maintaining its pace of growth, rolling out another dozen new ETFs during the week. The launches included products from Goldman Sachs, Innovator, SP Funds, Counterpoint, YieldMax, Aztlan, and ETF newcomer Macquarie.
However, perhaps the most unusual new ETF to debut was the WHITEWOLF Publicly Listed Private Equity ETF (LBO). The fund joins just two other broad private equity ETFs, the Invesco Global Listed Private Equity ETF (PSP) and the ProShares Global Listed Private Equity ETF (PEX). However, unlike its predecessors, LBO is actively managed by a firm that specializes in private equity. The fund may include leverage finance providers, buyout firms, sponsors, and asset managers in its portfolio, according to its prospectus.
LBO has an extremely high expense ratio of 6.82%, considering that almost all ETFs cost less than 100 basis points. It lists on Cboe Global markets.
Hilton Capital Management also launched an ETF, the Hilton Small-MidCap Opportunity ETF (SMCO), tackling the SMID section of the U.S. equity market. The fund is actively managed and relies on an in-house methodology to target what it considers mispriced securities with market capitalizations between $750 million and $30 billion, according to the fund document. It has an expense ratio of 0.55% and lists on the Nasdaq stock market.
Closures
There was also significant closure activity during the week, with eight ETFs either ceasing to trade or announcing plans to do so. These included the iShares iBonds Dec 2023 Term Muni Bond ETF (IBML), a closure that was essentially scheduled from the fund’s launch, and the B.A.D. ETF (BAD) as well as three closures from Innovator. Those will occur as of January 2, 2024, and are as follows:
Innovator Double Stacker 9 Buffer ETF – January (DBJA)
Innovator Double Stacker ETF – January (DSJA)
Innovator Triple Stacker ETF – January (TSJA)
Kelly ETFs also shuttered its final three ETFs, including the following:
Kelly Hotel & Lodging Sector ETF (HOTL)
Kelly Residential & Apartment Real Estate ETF (RESI)
Kelly Residential & Apartment Real Estate ETF (XDNA)
Other Changes
Another two ETFs underwent material changes during the week. The Global X MSCI Vietnam ETF (VNAM) changed its index from the MSCI Vietnam IMI Select 25/50 Index to the MSCI Vietnam Select 25/50 Index. And the Virtus Newfleet High Yield Bond ETF (BLHY) changed its name to the Virtus Newfleet Short Duration High Yield Bond ETF and its ticker to VSHY.
For more news, information, and strategy, visit ETF Trends.
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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The launches included products from Goldman Sachs, Innovator, SP Funds, Counterpoint, YieldMax, Aztlan, and ETF newcomer Macquarie. The fund may include leverage finance providers, buyout firms, sponsors, and asset managers in its portfolio, according to its prospectus. These included the iShares iBonds Dec 2023 Term Muni Bond ETF (IBML), a closure that was essentially scheduled from the fund’s launch, and the B.A.D.
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The fund joins just two other broad private equity ETFs, the Invesco Global Listed Private Equity ETF (PSP) and the ProShares Global Listed Private Equity ETF (PEX). Those will occur as of January 2, 2024, and are as follows: Innovator Double Stacker 9 Buffer ETF – January (DBJA) Innovator Double Stacker ETF – January (DSJA) Innovator Triple Stacker ETF – January (TSJA) Kelly ETFs also shuttered its final three ETFs, including the following: Kelly Hotel & Lodging Sector ETF (HOTL) Kelly Residential & Apartment Real Estate ETF (RESI) Kelly Residential & Apartment Real Estate ETF (XDNA) Other Changes Another two ETFs underwent material changes during the week. The Global X MSCI Vietnam ETF (VNAM) changed its index from the MSCI Vietnam IMI Select 25/50 Index to the MSCI Vietnam Select 25/50 Index.
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The fund joins just two other broad private equity ETFs, the Invesco Global Listed Private Equity ETF (PSP) and the ProShares Global Listed Private Equity ETF (PEX). Hilton Capital Management also launched an ETF, the Hilton Small-MidCap Opportunity ETF (SMCO), tackling the SMID section of the U.S. equity market. Those will occur as of January 2, 2024, and are as follows: Innovator Double Stacker 9 Buffer ETF – January (DBJA) Innovator Double Stacker ETF – January (DSJA) Innovator Triple Stacker ETF – January (TSJA) Kelly ETFs also shuttered its final three ETFs, including the following: Kelly Hotel & Lodging Sector ETF (HOTL) Kelly Residential & Apartment Real Estate ETF (RESI) Kelly Residential & Apartment Real Estate ETF (XDNA) Other Changes Another two ETFs underwent material changes during the week.
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However, unlike its predecessors, LBO is actively managed by a firm that specializes in private equity. LBO has an extremely high expense ratio of 6.82%, considering that almost all ETFs cost less than 100 basis points. ETF (BAD) as well as three closures from Innovator.
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715022.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: CMA, PTEN, F
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Comerica, Inc. (Symbol: CMA), where a total volume of 6,851 contracts has been traded thus far today, a contract volume which is representative of approximately 685,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42.7% of CMA's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $45 strike call option expiring January 19, 2024, with 2,317 contracts trading so far today, representing approximately 231,700 underlying shares of CMA. Below is a chart showing CMA's trailing twelve month trading history, with the $45 strike highlighted in orange:
Patterson-UTI Energy Inc. (Symbol: PTEN) saw options trading volume of 28,785 contracts, representing approximately 2.9 million underlying shares or approximately 42.7% of PTEN's average daily trading volume over the past month, of 6.7 million shares. Especially high volume was seen for the $10 strike put option expiring January 19, 2024, with 28,060 contracts trading so far today, representing approximately 2.8 million underlying shares of PTEN. Below is a chart showing PTEN's trailing twelve month trading history, with the $10 strike highlighted in orange:
And Ford Motor Co. (Symbol: F) options are showing a volume of 208,540 contracts thus far today. That number of contracts represents approximately 20.9 million underlying shares, working out to a sizeable 42.3% of F's average daily trading volume over the past month, of 49.2 million shares. Particularly high volume was seen for the $8.50 strike put option expiring December 15, 2023, with 28,851 contracts trading so far today, representing approximately 2.9 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $8.50 strike highlighted in orange:
For the various different available expirations for CMA options, PTEN options, or F options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
SEC Filing Alerts Service
JSCP Videos
ABIL Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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That number works out to 42.7% of CMA's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $45 strike call option expiring January 19, 2024, with 2,317 contracts trading so far today, representing approximately 231,700 underlying shares of CMA. Especially high volume was seen for the $10 strike put option expiring January 19, 2024, with 28,060 contracts trading so far today, representing approximately 2.8 million underlying shares of PTEN.
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Below is a chart showing CMA's trailing twelve month trading history, with the $45 strike highlighted in orange: Patterson-UTI Energy Inc. (Symbol: PTEN) saw options trading volume of 28,785 contracts, representing approximately 2.9 million underlying shares or approximately 42.7% of PTEN's average daily trading volume over the past month, of 6.7 million shares. Especially high volume was seen for the $10 strike put option expiring January 19, 2024, with 28,060 contracts trading so far today, representing approximately 2.8 million underlying shares of PTEN. Below is a chart showing PTEN's trailing twelve month trading history, with the $10 strike highlighted in orange: And Ford Motor Co. (Symbol: F) options are showing a volume of 208,540 contracts thus far today.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Comerica, Inc. (Symbol: CMA), where a total volume of 6,851 contracts has been traded thus far today, a contract volume which is representative of approximately 685,100 underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing CMA's trailing twelve month trading history, with the $45 strike highlighted in orange: Patterson-UTI Energy Inc. (Symbol: PTEN) saw options trading volume of 28,785 contracts, representing approximately 2.9 million underlying shares or approximately 42.7% of PTEN's average daily trading volume over the past month, of 6.7 million shares. Particularly high volume was seen for the $8.50 strike put option expiring December 15, 2023, with 28,851 contracts trading so far today, representing approximately 2.9 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $8.50 strike highlighted in orange: For the various different available expirations for CMA options, PTEN options, or F options, visit StockOptionsChannel.com.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Comerica, Inc. (Symbol: CMA), where a total volume of 6,851 contracts has been traded thus far today, a contract volume which is representative of approximately 685,100 underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing CMA's trailing twelve month trading history, with the $45 strike highlighted in orange: Patterson-UTI Energy Inc. (Symbol: PTEN) saw options trading volume of 28,785 contracts, representing approximately 2.9 million underlying shares or approximately 42.7% of PTEN's average daily trading volume over the past month, of 6.7 million shares. Particularly high volume was seen for the $8.50 strike put option expiring December 15, 2023, with 28,851 contracts trading so far today, representing approximately 2.9 million underlying shares of F. Below is a chart showing F's trailing twelve month trading history, with the $8.50 strike highlighted in orange: For the various different available expirations for CMA options, PTEN options, or F options, visit StockOptionsChannel.com.
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715023.0
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2023-12-01 00:00:00 UTC
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Double Up: 3 High-Potential Stocks Set to Skyrocket in 2024
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https://www.nasdaq.com/articles/double-up%3A-3-high-potential-stocks-set-to-skyrocket-in-2024
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The ongoing tech dynamism and market upheaval unveil the imminent rise of three high-potential stocks set to redefine 2024. In this era of unprecedented innovation and transformative strategies, the corridors of the trio resonate with the pulse of technological evolution. Project a landscape where artificial intelligence (AI) reigns supreme, logistics becomes an art form and innovation sparks societal change.
The first stock emerges as a colossus, strategically anchoring itself in the AI realm and forging an open ecosystem. The second one orchestrates an intricate symphony of logistics mastery and user-centric experiences, rewriting the rules of engagement. Meanwhile, the third charts its course through the agricultural terrain, pioneering tech-driven revolutions that transcend markets and touch lives.
Read the article for an odyssey through these corporate titans’ maneuvers, where innovation meets strategy, and where the future of commerce is being reshaped.
Alibaba (BABA)
Source: Colin Hui / Shutterstock.com
Alibaba (NYSE:BABA) is strategically positioning itself to thrive in the AI era. The company recognizes a fundamental shift in computing from traditional to AI-centric. Its focus on building an open cloud infrastructure and fostering an open AI ecosystem indicates its readiness to cater to diverse industries’ increasing demand for AI-driven computing.
The Cloud Intelligence Group also aims to ramp up its AI-related software and hardware investments. This strategy is designed to capitalize on the growth potential of AI and cater to the rising demand for AI-driven services across industries. Alibaba remains optimistic about the long-term growth prospects driven by AI services and continuous innovation across industries.
One of the significant achievements was the remarkable 44% increase in cloud-adjusted EBITDA (Q3 2023). This enhancement in profitability was largely due to the surge in revenue from public cloud products and services coupled with operational efficiency improvements.
Additionally, Alibaba Cloud displayed competitive advantages such as pricing power, high renewal rates, and a highly scalable cloud computing infrastructure. The proactive approach to managing the quality of cloud revenue resulted in enhanced profitability and a more sustainable revenue structure. Strategically, the decision not to pursue the full spin-off of the Cloud Intelligence Group is vital. It demonstrates a shift in focus from financial engineering to operational excellence.
Finally, regarding diversification and innovation in other segments, businesses like DingTalk and the Intelligent Information Platform are part of Alibaba’s strategic innovation endeavors. DingTalk, with over 100,000 paying enterprise customers and a substantial growth rate, continues to evolve its products and services. Meanwhile, the Intelligent Information Platform is experiencing significant growth, exemplified by a surge in daily active users.
JD (JD)
Source: Michael Vi / Shutterstock.com
JD (NASDAQ:JD) has made substantial strides in fortifying its logistics capabilities, a cornerstone of its success in e-commerce. By expanding free shipping coverage and reducing the minimum order value, JD has significantly improved user accessibility. Lowering the threshold for free shipping from RMB99 to RMB59 for all users and offering unlimited free shipping for 1P products to JD PLUS members enhances the value proposition for customers.
Additionally, the company has an innovative approach to live-streaming sessions hosted by category managers. It underscores a unique blend of expertise and supply chain capabilities. These sessions, free from additional commission fees, attract a vast audience, reaching over 380 million viewers during promotional periods. Leveraging its supply chain strengths, JD delivers an extensive selection of products at competitive prices through these live-streaming events. This format has become a powerful tool for engaging customers and brands, enhancing the customer experience and driving sales.
Furthermore, JD focuses on elevating its after-sale customer service, including features like instant refunds and best-price guarantees. As a result, it has yielded higher user engagement. This focus on enhancing the user experience is reflected in the accelerated year-over-year growth of user order frequency in Q3 2023. The company’s dedication to service quality has improved customer satisfaction and increased user trust.
By balancing 1P and 3P business models, JD emphasizes the importance of 1P and 3P sellers operating within the same philosophy. Encouraging trends include the rapid growth of active 3P merchants, increased 3P orders and active users purchasing from 3P merchants in Q3. Thus, the double-digit growth in 3P advertising revenue underscores the increasing engagement of new merchants on JD’s platform. Lastly, these metrics collectively indicate positive value momentum and validate the efficacy of the company’s efforts.
PDD Holdings (PDD)
Source: madamF / Shutterstock.com
PDD Holdings (NASDAQ:PDD) has substantially invested in research and development (R&D). It has surpassed RMB10 billion over the past year, with a significant spike in Q2 2023. This highlights the company’s focus on innovation as a core driver of growth. Also, this commitment to R&D underscores the company’s recognition of technology as a critical enabler for enhancing its platform, services and overall user experience.
Additionally, the emphasis on R&D is crucial to sustaining competitiveness and staying ahead in the rapidly evolving e-commerce landscape. By allocating substantial resources to innovation, PDD Holdings aims to introduce new features, enhance existing services and develop cutting-edge technologies. Such investments lay the groundwork for future expansion and differentiation within the market.
Fundamentally, PDD Holdings’ emphasis on agricultural technology (Agritech) is a strategic move that aligns with market trends and serves broader societal needs. The company has initiatives like the Smart Agriculture Competition and partnerships with leading agronomic institutes. These initiatives demonstrate its focus on transforming agricultural practices through technological advancements.
The tangible outcomes, such as the 30% increase in farmers’ yields while reducing operational costs, showcase the practical implications of PDD Holdings’ agritech initiatives. This focus on innovation in agriculture benefits farmers and ensures the availability of high-quality produce for consumers.
Furthermore, PDD Holdings’ efforts to nurture a high-quality ecosystem through initiatives like the $10 billion Ecosystem Initiative are crucial in creating a robust marketplace. By supporting quality merchants and SMEs, the company fosters an environment conducive to innovation, efficiency and service quality across its platform.
Finally, PDD Holdings focuses on platform governance, including food and drug safety measures and IP protection. It demonstrates PDD Holdings’ dedication to maintaining a trustworthy and secure marketplace.
As of this writing, Yiannis Zourmpanos held long positions in BABA and JD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.
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The views and 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 allocating substantial resources to innovation, PDD Holdings aims to introduce new features, enhance existing services and develop cutting-edge technologies. Fundamentally, PDD Holdings’ emphasis on agricultural technology (Agritech) is a strategic move that aligns with market trends and serves broader societal needs. The tangible outcomes, such as the 30% increase in farmers’ yields while reducing operational costs, showcase the practical implications of PDD Holdings’ agritech initiatives.
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Additionally, Alibaba Cloud displayed competitive advantages such as pricing power, high renewal rates, and a highly scalable cloud computing infrastructure. Encouraging trends include the rapid growth of active 3P merchants, increased 3P orders and active users purchasing from 3P merchants in Q3. PDD Holdings (PDD) Source: madamF / Shutterstock.com PDD Holdings (NASDAQ:PDD) has substantially invested in research and development (R&D).
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PDD Holdings (PDD) Source: madamF / Shutterstock.com PDD Holdings (NASDAQ:PDD) has substantially invested in research and development (R&D). Also, this commitment to R&D underscores the company’s recognition of technology as a critical enabler for enhancing its platform, services and overall user experience. By allocating substantial resources to innovation, PDD Holdings aims to introduce new features, enhance existing services and develop cutting-edge technologies.
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This format has become a powerful tool for engaging customers and brands, enhancing the customer experience and driving sales. PDD Holdings (PDD) Source: madamF / Shutterstock.com PDD Holdings (NASDAQ:PDD) has substantially invested in research and development (R&D). These initiatives demonstrate its focus on transforming agricultural practices through technological advancements.
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f8cda3fc-d63c-469f-ad4f-d8f84a319326
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715024.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: ASAN, EL, VLY
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-asan-el-vly
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Asana Inc (Symbol: ASAN), where a total volume of 7,977 contracts has been traded thus far today, a contract volume which is representative of approximately 797,700 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 43.6% of ASAN's average daily trading volume over the past month, of 1.8 million shares. Particularly high volume was seen for the $19.50 strike put option expiring December 08, 2023, with 1,055 contracts trading so far today, representing approximately 105,500 underlying shares of ASAN. Below is a chart showing ASAN's trailing twelve month trading history, with the $19.50 strike highlighted in orange:
Estee Lauder Cos., Inc. (Symbol: EL) options are showing a volume of 14,014 contracts thus far today. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 43.5% of EL's average daily trading volume over the past month, of 3.2 million shares. Particularly high volume was seen for the $230 strike put option expiring January 19, 2024, with 1,145 contracts trading so far today, representing approximately 114,500 underlying shares of EL. Below is a chart showing EL's trailing twelve month trading history, with the $230 strike highlighted in orange:
And Valley National Bancorp (Symbol: VLY) saw options trading volume of 12,986 contracts, representing approximately 1.3 million underlying shares or approximately 43.3% of VLY's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $10 strike call option expiring January 19, 2024, with 10,014 contracts trading so far today, representing approximately 1.0 million underlying shares of VLY. Below is a chart showing VLY's trailing twelve month trading history, with the $10 strike highlighted in orange:
For the various different available expirations for ASAN options, EL options, or VLY options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Stocks Crossing Above Their 200 Day Moving Average
Top Ten Hedge Funds Holding TBX
ANEN Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $19.50 strike put option expiring December 08, 2023, with 1,055 contracts trading so far today, representing approximately 105,500 underlying shares of ASAN. Particularly high volume was seen for the $230 strike put option expiring January 19, 2024, with 1,145 contracts trading so far today, representing approximately 114,500 underlying shares of EL. Especially high volume was seen for the $10 strike call option expiring January 19, 2024, with 10,014 contracts trading so far today, representing approximately 1.0 million underlying shares of VLY.
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Below is a chart showing ASAN's trailing twelve month trading history, with the $19.50 strike highlighted in orange: Estee Lauder Cos., Inc. (Symbol: EL) options are showing a volume of 14,014 contracts thus far today. Below is a chart showing EL's trailing twelve month trading history, with the $230 strike highlighted in orange: And Valley National Bancorp (Symbol: VLY) saw options trading volume of 12,986 contracts, representing approximately 1.3 million underlying shares or approximately 43.3% of VLY's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $10 strike call option expiring January 19, 2024, with 10,014 contracts trading so far today, representing approximately 1.0 million underlying shares of VLY.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Asana Inc (Symbol: ASAN), where a total volume of 7,977 contracts has been traded thus far today, a contract volume which is representative of approximately 797,700 underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing EL's trailing twelve month trading history, with the $230 strike highlighted in orange: And Valley National Bancorp (Symbol: VLY) saw options trading volume of 12,986 contracts, representing approximately 1.3 million underlying shares or approximately 43.3% of VLY's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $10 strike call option expiring January 19, 2024, with 10,014 contracts trading so far today, representing approximately 1.0 million underlying shares of VLY.
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Particularly high volume was seen for the $230 strike put option expiring January 19, 2024, with 1,145 contracts trading so far today, representing approximately 114,500 underlying shares of EL. Below is a chart showing EL's trailing twelve month trading history, with the $230 strike highlighted in orange: And Valley National Bancorp (Symbol: VLY) saw options trading volume of 12,986 contracts, representing approximately 1.3 million underlying shares or approximately 43.3% of VLY's average daily trading volume over the past month, of 3.0 million shares. Below is a chart showing VLY's trailing twelve month trading history, with the $10 strike highlighted in orange: For the various different available expirations for ASAN options, EL options, or VLY options, visit StockOptionsChannel.com.
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8c6c1d34-2963-4d48-ac24-0b26c21bede8
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715025.0
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2023-12-01 00:00:00 UTC
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Why GigaCloud Technology Stock Popped Today
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DCOMP
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https://www.nasdaq.com/articles/why-gigacloud-technology-stock-popped-today
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nan
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nan
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Shares of GigaCloud Technology (NASDAQ: GCT) are up 15.2% as of 12:45 p.m. ET Friday after the Hong Kong based business-to-business (B2B) e-commerce solutions company announced strong quarterly results.
GigaCloud's third-quarter revenue grew 39.2% year over year to $178.2 million, translating to net income of $24.2 million or $0.59 per share. Analysts, on average, were only expecting earnings of $0.38 per share on revenue of $178.2 million.
On GigaCloud's solid execution, recent acquisitions
This marked GigaCloud's third consecutive quarter of record profitability. Within GigaCloud's top line, service revenue from its GigaCloud 3P grew 27.2% year over year to $51.5 million, while product revenue from GigaCloud 1P increased 38.1% to $80.4 million. Product revenue from off-platform e-commerce climbed 58% to $46.3 million.
Meanwhile, GigaCloud Marketplace gross merchandise volume soared 40.8% year over year to $684.8 million, driven by a 9.6% increase in active buyers (to 4,602) and a 28.5% gain in spend per active buyer to $148,793.
GigaCloud also closed on a pair of acquisitions in recent weeks, including its $85 million purchase of Noble House Home Furnishings' assets on Oct. 31, and a $10 million purchase of cloud-based interactive digital signage company Wondersign on Nov. 15. The Noble House acquisition announcement in September caused GigaCloud stock to pull back hard as investors questioned the rationale for (and size of) the deal.
"Our continued focus on execution and adaptability has allowed GigaCloud to capitalize on market opportunities when they present themselves," explained GigaCloud founder, chairman, and CEO Larry Wu. "Further, the closing of the Noble House and Wondersign acquisitions highlights not only our strong profitability and cash position, but affirm our dedication to GigaCloud's mission of delivering a seamless end-to-end shopping experience for our marketplace participants."
What's next for GigaCloud investors?
GigaCloud expects fourth-quarter revenue of between $217 million and $223 million. That's far above Wall Street's consensus estimates for $143 million, but also isn't directly comparable as it includes revenue contributions from the Noble House and Wondersign purchases. GigaCloud didn't provide specific earnings guidance for the current quarter, so it remains to be seen whether its streak of outsize profitability will continue in the near term.
In any case, there's no denying this was a solid quarter from GigaCloud given its revenue and earnings beat even prior to its acquisitions. The e-commerce technology stock is simply responding in kind today.
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Steve Symington has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Noble House acquisition announcement in September caused GigaCloud stock to pull back hard as investors questioned the rationale for (and size of) the deal. "Further, the closing of the Noble House and Wondersign acquisitions highlights not only our strong profitability and cash position, but affirm our dedication to GigaCloud's mission of delivering a seamless end-to-end shopping experience for our marketplace participants." That's far above Wall Street's consensus estimates for $143 million, but also isn't directly comparable as it includes revenue contributions from the Noble House and Wondersign purchases.
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On GigaCloud's solid execution, recent acquisitions This marked GigaCloud's third consecutive quarter of record profitability. Within GigaCloud's top line, service revenue from its GigaCloud 3P grew 27.2% year over year to $51.5 million, while product revenue from GigaCloud 1P increased 38.1% to $80.4 million. GigaCloud also closed on a pair of acquisitions in recent weeks, including its $85 million purchase of Noble House Home Furnishings' assets on Oct. 31, and a $10 million purchase of cloud-based interactive digital signage company Wondersign on Nov. 15.
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GigaCloud's third-quarter revenue grew 39.2% year over year to $178.2 million, translating to net income of $24.2 million or $0.59 per share. Within GigaCloud's top line, service revenue from its GigaCloud 3P grew 27.2% year over year to $51.5 million, while product revenue from GigaCloud 1P increased 38.1% to $80.4 million. GigaCloud also closed on a pair of acquisitions in recent weeks, including its $85 million purchase of Noble House Home Furnishings' assets on Oct. 31, and a $10 million purchase of cloud-based interactive digital signage company Wondersign on Nov. 15.
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Shares of GigaCloud Technology (NASDAQ: GCT) are up 15.2% as of 12:45 p.m. Analysts, on average, were only expecting earnings of $0.38 per share on revenue of $178.2 million. * They just revealed what they believe are the ten best stocks for investors to buy right now... and GigaCloud Technology wasn't one of them!
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b53a5863-4a58-4759-8b23-d77e4dbeb456
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715026.0
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2023-12-01 00:00:00 UTC
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Decade’s Darlings: 3 Stocks Primed for a 1000% Leap by 2030
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DCOMP
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https://www.nasdaq.com/articles/decades-darlings%3A-3-stocks-primed-for-a-1000-leap-by-2030
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In an era of technological innovation and market dynamism, three standout stocks to buy for the next decade are drawing attention for their disruptive strategies and potential for monumental growth. These companies are not merely enterprises but visionaries redefining sectors through unparalleled operational acumen, strategic acquisitions and innovative market approaches.
The first stock, riding the crypto wave, has redefined power cost management, showcasing astounding efficiency in the volatile market. Meanwhile, the second’s network expansion and synergistic prowess signal a meteoric rise in telecommunications. The third stock’s strategic acquisitions and product diversification paint a promising picture in the ever-evolving food industry landscape.
Read more to unravel the strategic maneuvers and visionary foresight of these companies. It shows how their groundbreaking approaches could catapult their stocks to an astounding 1000% leap by 2030.
Iris Energy (IREN)
Source: Shutterstock
As of Q3 2023, Iris Energy (NASDAQ:IREN) has exhibited remarkable efficiency in managing power costs, especially at its Childress site in Texas. Initially projecting a power cost of $0.02, the company has achieved a lower cost of $0.014. Additionally, during volatile market periods like August, it experienced negative costs of up to -$0.08 per kilowatt-hour. This has resulted in significant profits from Bitcoin mining.
Additionally, consistently maintaining lower-than-expected power costs is a significant advantage. It showcases the company’s strategic location and efficient utilization of resources. Iris Energy is near low-cost wind and solar sources and can navigate congested transmission lines, effectively enabling it to capitalize on market volatility. Its end-to-end systems, technology and infrastructure control allow the company to interface with energy markets dynamically. It optimizes power costs by switching between bitcoin mining and power market trading as needed.
Furthermore, the cost efficiency achieved, especially during volatile market conditions, indicates operational agility and sophistication in managing power consumption. Conversely, Iris Energy has established a robust bitcoin mining capacity, boasting 30 exahash of mining capability, and currently operates at 20 megawatts.
An ongoing expansion and construction process is needed to reach the full 600-megawatt capacity. This showcases a substantial focus on scaling operations and demonstrates Iris Energy’s strategic vision for growth. With teams on-site continuously building and expanding capacity, the company appears dedicated to achieving its mining capacity targets. Finally, the ability to scale rapidly positions Iris Energy as a significant player in the crypto mining sector.
Cogent (CCOI)
Source: Michael Candelori / Shutterstock.com
Cogent’s (NASDAQ:CCOI) realization of operational synergies post-acquisition underscores the company’s proficiency in identifying and capturing cost-saving opportunities. For instance, in Q3 2023, Cogent achieved annual savings of approximately $180 million from the Sprint North American network, $25 million from Sprint’s international wireline network, and a $15 million reduction in Cogent’s North American network operating and maintenance expenses (O&M) manifesting effective integration strategies.
Strategically, Cogent focuses on expanding its sales force and customer base post-acquisition, demonstrating a concerted effort to capitalize on the newly acquired resources. The substantial increase in sales representatives resulted from the Sprint business acquisition. It contributes to a 9.5% increase in full-time equivalent reps, reflecting the company’s intention to leverage Sprint’s employees’ expertise and client relationships.
Expanding network connections in carrier-neutral data centers to 1,588 locations solidifies Cogent’s positioning as a leading provider. This extended network reach enhances the company’s attractiveness to customers seeking comprehensive network coverage.
As a result, positive trends are observed in the corporate business, such as increased demand for high-capacity connections and VPN services. It indicates a growing need for Cogent’s services among corporate clients. This demand aligns with the company’s offerings, fostering potential revenue growth in this segment.
Looking at network strength, Cogent’s network witnessed substantial traffic growth, reflecting a 6% sequential increase and an impressive 26% year-over-year rise. This accelerated traffic growth underscores the increased utilization and demand for Cogent’s network services.
Finally, the company’s position as the most interconnected network globally, with direct connections to 7,971 networks, is a testament to its extensive network reach. This vast interconnection capability positions Cogent as a critical infrastructure provider.
Mama’s Creations (MAMA)
Source: Shutterstock
Mama’s Creations (NASDAQ:MAMA) made a pivotal move by acquiring the remaining 76% interest in Chef Inspirational Foods (CIF) for $3.65 million in a blend of cash and stock. As expressed by management’s commentary, the acquisition is expected to boost gross margins, leading to a stronger financial position. This allows Mama’s Creations to leverage CIF’s existing infrastructure, sales expertise and customer relationships, enhancing profitability.
Furthermore, acquiring CIF expands the company’s product line and brings in skilled professionals. Infusing new talent can accelerate innovation, drive sales and contribute to the company’s competitive advantage in the market. Consequently, the consolidation of operations and resources between Mama’s Creations and CIF is poised to result in significant overhead synergies. By streamlining operations, the company can reduce duplicative costs, improve efficiency and optimize resource allocation, ultimately enhancing its overall performance.
Analyzing brand diversification, introducing Mama’s Creations as a new international deli food platform brand is a significant step toward diversifying the company’s product portfolio. By offering a variety of cuisines, such as Asian, Tex-Mex and Indian, the company taps into the growing demand for diverse food options among consumers, thereby expanding its target market.
In terms of on-the-go snacking products, it is expanding the line with enhanced packaging. Specifically, extending the shelf life from 5 to 21 days is a strategic move catering to evolving consumer preferences. Also, the success of the initial ‘Meatballs in a Cup’ tests in convenience stores indicates a strong market potential for convenient and fresh snacking options.
Therefore, these initiatives demonstrate Mama’s Creations’ responsiveness to consumer preferences, leveraging market trends and focusing on product innovation to stay competitive in the prepared foods sector.
On the date of publication, Yiannis Zourmpanos 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.
Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.
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The post Decade’s Darlings: 3 Stocks Primed for a 1000% Leap by 2030 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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By offering a variety of cuisines, such as Asian, Tex-Mex and Indian, the company taps into the growing demand for diverse food options among consumers, thereby expanding its target market. Therefore, these initiatives demonstrate Mama’s Creations’ responsiveness to consumer preferences, leveraging market trends and focusing on product innovation to stay competitive in the prepared foods sector. 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 Decade’s Darlings: 3 Stocks Primed for a 1000% Leap by 2030 appeared first on InvestorPlace.
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Iris Energy (IREN) Source: Shutterstock As of Q3 2023, Iris Energy (NASDAQ:IREN) has exhibited remarkable efficiency in managing power costs, especially at its Childress site in Texas. For instance, in Q3 2023, Cogent achieved annual savings of approximately $180 million from the Sprint North American network, $25 million from Sprint’s international wireline network, and a $15 million reduction in Cogent’s North American network operating and maintenance expenses (O&M) manifesting effective integration strategies. Therefore, these initiatives demonstrate Mama’s Creations’ responsiveness to consumer preferences, leveraging market trends and focusing on product innovation to stay competitive in the prepared foods sector.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips In an era of technological innovation and market dynamism, three standout stocks to buy for the next decade are drawing attention for their disruptive strategies and potential for monumental growth. For instance, in Q3 2023, Cogent achieved annual savings of approximately $180 million from the Sprint North American network, $25 million from Sprint’s international wireline network, and a $15 million reduction in Cogent’s North American network operating and maintenance expenses (O&M) manifesting effective integration strategies. Finally, the company’s position as the most interconnected network globally, with direct connections to 7,971 networks, is a testament to its extensive network reach.
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This accelerated traffic growth underscores the increased utilization and demand for Cogent’s network services. Finally, the company’s position as the most interconnected network globally, with direct connections to 7,971 networks, is a testament to its extensive network reach. Therefore, these initiatives demonstrate Mama’s Creations’ responsiveness to consumer preferences, leveraging market trends and focusing on product innovation to stay competitive in the prepared foods sector.
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75d5441a-092b-4b30-a8cd-a4eaa6617e79
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715027.0
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2023-12-01 00:00:00 UTC
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Financial Sector Update for 12/01/2023: BOKF, AIG, CRBG, RELY
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DCOMP
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https://www.nasdaq.com/articles/financial-sector-update-for-12-01-2023%3A-bokf-aig-crbg-rely
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nan
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nan
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Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%.
The Philadelphia Housing Index was climbing 2.4% and the Real Estate Select Sector SPDR Fund (XLRE) was up 1.7%.
Bitcoin (BTC-USD) was increasing 2.6% to $38,789, and the yield for 10-year US Treasuries was dropping 13 basis points to 4.23%.
In economic news, Federal Reserve Chair Jerome Powell called talk of cutting interest rates "premature" and said that the Fed is ready to tighten further if appropriate.
Powell said that "the Federal Open Market Committee is strongly committed to bringing inflation down to 2% over time, and to keeping policy restrictive until we are confident that inflation is on a path to that objective."
Separately, the Institute for Supply Management's US manufacturing index remained at 46.7 in November, while still indicating contraction in the factory sector. There were increases in the readings for new orders and prices, though both remained below the breakeven point.
In corporate news, BOK Financial (BOKF) shares jumped almost 5% after it said Friday that it will sell its risk management and employee benefits insurance brokerage and consulting business under BOK Financial Insurance to USI Insurance Services.
Remitly Global (RELY) shares were down 3.7% after Wolfe Research downgraded the company's stock to peer perform from outperform.
American International Group (AIG) said Friday it priced a secondary offering of Corebridge Financial (CRBG) shares at $20.50 per share. AIG shares were rising 0.4% and Corebridge was down 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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In economic news, Federal Reserve Chair Jerome Powell called talk of cutting interest rates "premature" and said that the Fed is ready to tighten further if appropriate. Separately, the Institute for Supply Management's US manufacturing index remained at 46.7 in November, while still indicating contraction in the factory sector. Remitly Global (RELY) shares were down 3.7% after Wolfe Research downgraded the company's stock to peer perform from outperform.
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Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%. The Philadelphia Housing Index was climbing 2.4% and the Real Estate Select Sector SPDR Fund (XLRE) was up 1.7%. In corporate news, BOK Financial (BOKF) shares jumped almost 5% after it said Friday that it will sell its risk management and employee benefits insurance brokerage and consulting business under BOK Financial Insurance to USI Insurance Services.
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Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%. In corporate news, BOK Financial (BOKF) shares jumped almost 5% after it said Friday that it will sell its risk management and employee benefits insurance brokerage and consulting business under BOK Financial Insurance to USI Insurance Services. American International Group (AIG) said Friday it priced a secondary offering of Corebridge Financial (CRBG) shares at $20.50 per share.
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Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%. Bitcoin (BTC-USD) was increasing 2.6% to $38,789, and the yield for 10-year US Treasuries was dropping 13 basis points to 4.23%. In economic news, Federal Reserve Chair Jerome Powell called talk of cutting interest rates "premature" and said that the Fed is ready to tighten further if appropriate.
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78fd251c-1d6c-4917-b357-9363ae501f34
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715028.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: DIS, TTWO, AAL
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-dis-ttwo-aal
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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 Walt Disney Co. (Symbol: DIS), where a total of 82,756 contracts have traded so far, representing approximately 8.3 million underlying shares. That amounts to about 52.7% of DIS's average daily trading volume over the past month of 15.7 million shares. Especially high volume was seen for the $93 strike call option expiring December 01, 2023, with 5,240 contracts trading so far today, representing approximately 524,000 underlying shares of DIS. Below is a chart showing DIS's trailing twelve month trading history, with the $93 strike highlighted in orange:
Take-Two Interactive Software, Inc. (Symbol: TTWO) options are showing a volume of 10,612 contracts thus far today. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 52% of TTWO's average daily trading volume over the past month, of 2.0 million shares. Especially high volume was seen for the $160 strike call option expiring December 08, 2023, with 1,200 contracts trading so far today, representing approximately 120,000 underlying shares of TTWO. Below is a chart showing TTWO's trailing twelve month trading history, with the $160 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 162,947 contracts, representing approximately 16.3 million underlying shares or approximately 51% of AAL's average daily trading volume over the past month, of 31.9 million shares. Especially high volume was seen for the $5 strike put option expiring July 18, 2025, with 30,151 contracts trading so far today, representing approximately 3.0 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange:
For the various different available expirations for DIS options, TTWO options, or AAL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Institutional Holders of PCY
CVS Price Target
CRBG Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $93 strike call option expiring December 01, 2023, with 5,240 contracts trading so far today, representing approximately 524,000 underlying shares of DIS. Especially high volume was seen for the $160 strike call option expiring December 08, 2023, with 1,200 contracts trading so far today, representing approximately 120,000 underlying shares of TTWO. Especially high volume was seen for the $5 strike put option expiring July 18, 2025, with 30,151 contracts trading so far today, representing approximately 3.0 million underlying shares of AAL.
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Especially high volume was seen for the $93 strike call option expiring December 01, 2023, with 5,240 contracts trading so far today, representing approximately 524,000 underlying shares of DIS. Below is a chart showing DIS's trailing twelve month trading history, with the $93 strike highlighted in orange: Take-Two Interactive Software, Inc. (Symbol: TTWO) options are showing a volume of 10,612 contracts thus far today. Below is a chart showing TTWO's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 162,947 contracts, representing approximately 16.3 million underlying shares or approximately 51% of AAL's average daily trading volume over the past month, of 31.9 million shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Walt Disney Co. (Symbol: DIS), where a total of 82,756 contracts have traded so far, representing approximately 8.3 million underlying shares. Below is a chart showing TTWO's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 162,947 contracts, representing approximately 16.3 million underlying shares or approximately 51% of AAL's average daily trading volume over the past month, of 31.9 million shares. Especially high volume was seen for the $5 strike put option expiring July 18, 2025, with 30,151 contracts trading so far today, representing approximately 3.0 million underlying shares of AAL.
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Especially high volume was seen for the $93 strike call option expiring December 01, 2023, with 5,240 contracts trading so far today, representing approximately 524,000 underlying shares of DIS. Below is a chart showing TTWO's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 162,947 contracts, representing approximately 16.3 million underlying shares or approximately 51% of AAL's average daily trading volume over the past month, of 31.9 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange: For the various different available expirations for DIS options, TTWO options, or AAL options, visit StockOptionsChannel.com.
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1a2a3e21-58d0-43e3-9a5a-fb3361e00a88
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715029.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: S, KRTX, DOCN
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-s-krtx-docn
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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 SentinelOne Inc (Symbol: S), where a total of 20,906 contracts have traded so far, representing approximately 2.1 million underlying shares. That amounts to about 46.3% of S's average daily trading volume over the past month of 4.5 million shares. Particularly high volume was seen for the $10 strike put option expiring January 17, 2025, with 3,661 contracts trading so far today, representing approximately 366,100 underlying shares of S. Below is a chart showing S's trailing twelve month trading history, with the $10 strike highlighted in orange:
Karuna Therapeutics Inc (Symbol: KRTX) saw options trading volume of 1,081 contracts, representing approximately 108,100 underlying shares or approximately 46.3% of KRTX's average daily trading volume over the past month, of 233,390 shares. Particularly high volume was seen for the $230 strike call option expiring February 16, 2024, with 765 contracts trading so far today, representing approximately 76,500 underlying shares of KRTX. Below is a chart showing KRTX's trailing twelve month trading history, with the $230 strike highlighted in orange:
And DigitalOcean Holdings Inc (Symbol: DOCN) saw options trading volume of 7,390 contracts, representing approximately 739,000 underlying shares or approximately 45% of DOCN's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $32.50 strike call option expiring January 19, 2024, with 4,057 contracts trading so far today, representing approximately 405,700 underlying shares of DOCN. Below is a chart showing DOCN's trailing twelve month trading history, with the $32.50 strike highlighted in orange:
For the various different available expirations for S options, KRTX options, or DOCN options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
NYLD Insider Buying
AN Price Target
PRFT shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $230 strike call option expiring February 16, 2024, with 765 contracts trading so far today, representing approximately 76,500 underlying shares of KRTX. Particularly high volume was seen for the $32.50 strike call option expiring January 19, 2024, with 4,057 contracts trading so far today, representing approximately 405,700 underlying shares of DOCN. Today's Most Active Call & Put Options of the S&P 500 » Also see: NYLD Insider Buying AN Price Target PRFT shares outstanding history The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $10 strike put option expiring January 17, 2025, with 3,661 contracts trading so far today, representing approximately 366,100 underlying shares of S. Below is a chart showing S's trailing twelve month trading history, with the $10 strike highlighted in orange: Karuna Therapeutics Inc (Symbol: KRTX) saw options trading volume of 1,081 contracts, representing approximately 108,100 underlying shares or approximately 46.3% of KRTX's average daily trading volume over the past month, of 233,390 shares. Below is a chart showing KRTX's trailing twelve month trading history, with the $230 strike highlighted in orange: And DigitalOcean Holdings Inc (Symbol: DOCN) saw options trading volume of 7,390 contracts, representing approximately 739,000 underlying shares or approximately 45% of DOCN's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $32.50 strike call option expiring January 19, 2024, with 4,057 contracts trading so far today, representing approximately 405,700 underlying shares of DOCN.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in SentinelOne Inc (Symbol: S), where a total of 20,906 contracts have traded so far, representing approximately 2.1 million underlying shares. Particularly high volume was seen for the $10 strike put option expiring January 17, 2025, with 3,661 contracts trading so far today, representing approximately 366,100 underlying shares of S. Below is a chart showing S's trailing twelve month trading history, with the $10 strike highlighted in orange: Karuna Therapeutics Inc (Symbol: KRTX) saw options trading volume of 1,081 contracts, representing approximately 108,100 underlying shares or approximately 46.3% of KRTX's average daily trading volume over the past month, of 233,390 shares. Below is a chart showing KRTX's trailing twelve month trading history, with the $230 strike highlighted in orange: And DigitalOcean Holdings Inc (Symbol: DOCN) saw options trading volume of 7,390 contracts, representing approximately 739,000 underlying shares or approximately 45% of DOCN's average daily trading volume over the past month, of 1.6 million shares.
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Particularly high volume was seen for the $10 strike put option expiring January 17, 2025, with 3,661 contracts trading so far today, representing approximately 366,100 underlying shares of S. Below is a chart showing S's trailing twelve month trading history, with the $10 strike highlighted in orange: Karuna Therapeutics Inc (Symbol: KRTX) saw options trading volume of 1,081 contracts, representing approximately 108,100 underlying shares or approximately 46.3% of KRTX's average daily trading volume over the past month, of 233,390 shares. Below is a chart showing KRTX's trailing twelve month trading history, with the $230 strike highlighted in orange: And DigitalOcean Holdings Inc (Symbol: DOCN) saw options trading volume of 7,390 contracts, representing approximately 739,000 underlying shares or approximately 45% of DOCN's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $32.50 strike call option expiring January 19, 2024, with 4,057 contracts trading so far today, representing approximately 405,700 underlying shares of DOCN.
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227fa5aa-13d0-4422-923a-c532a4d328db
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715030.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: ORCL, DAL, IMVT
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-orcl-dal-imvt
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Oracle Corp (Symbol: ORCL), where a total volume of 35,369 contracts has been traded thus far today, a contract volume which is representative of approximately 3.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 55.5% of ORCL's average daily trading volume over the past month, of 6.4 million shares. Particularly high volume was seen for the $117 strike call option expiring December 01, 2023, with 3,922 contracts trading so far today, representing approximately 392,200 underlying shares of ORCL. Below is a chart showing ORCL's trailing twelve month trading history, with the $117 strike highlighted in orange:
Delta Air Lines Inc (Symbol: DAL) options are showing a volume of 49,367 contracts thus far today. That number of contracts represents approximately 4.9 million underlying shares, working out to a sizeable 53.8% of DAL's average daily trading volume over the past month, of 9.2 million shares. Especially high volume was seen for the $38 strike call option expiring January 19, 2024, with 4,251 contracts trading so far today, representing approximately 425,100 underlying shares of DAL. Below is a chart showing DAL's trailing twelve month trading history, with the $38 strike highlighted in orange:
And Immunovant Inc (Symbol: IMVT) options are showing a volume of 7,088 contracts thus far today. That number of contracts represents approximately 708,800 underlying shares, working out to a sizeable 53.3% of IMVT's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $40 strike call option expiring December 15, 2023, with 1,520 contracts trading so far today, representing approximately 152,000 underlying shares of IMVT. Below is a chart showing IMVT's trailing twelve month trading history, with the $40 strike highlighted in orange:
For the various different available expirations for ORCL options, DAL options, or IMVT options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
TLTD Dividend History
RJET Options Chain
Institutional Holders of CHPS
The views and 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 $117 strike call option expiring December 01, 2023, with 3,922 contracts trading so far today, representing approximately 392,200 underlying shares of ORCL. Especially high volume was seen for the $38 strike call option expiring January 19, 2024, with 4,251 contracts trading so far today, representing approximately 425,100 underlying shares of DAL. Especially high volume was seen for the $40 strike call option expiring December 15, 2023, with 1,520 contracts trading so far today, representing approximately 152,000 underlying shares of IMVT.
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That number of contracts represents approximately 4.9 million underlying shares, working out to a sizeable 53.8% of DAL's average daily trading volume over the past month, of 9.2 million shares. Below is a chart showing DAL's trailing twelve month trading history, with the $38 strike highlighted in orange: And Immunovant Inc (Symbol: IMVT) options are showing a volume of 7,088 contracts thus far today. That number of contracts represents approximately 708,800 underlying shares, working out to a sizeable 53.3% of IMVT'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 Oracle Corp (Symbol: ORCL), where a total volume of 35,369 contracts has been traded thus far today, a contract volume which is representative of approximately 3.5 million underlying shares (given that every 1 contract represents 100 underlying shares). Particularly high volume was seen for the $117 strike call option expiring December 01, 2023, with 3,922 contracts trading so far today, representing approximately 392,200 underlying shares of ORCL. That number of contracts represents approximately 4.9 million underlying shares, working out to a sizeable 53.8% of DAL's average daily trading volume over the past month, of 9.2 million shares.
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That number of contracts represents approximately 708,800 underlying shares, working out to a sizeable 53.3% of IMVT's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $40 strike call option expiring December 15, 2023, with 1,520 contracts trading so far today, representing approximately 152,000 underlying shares of IMVT. Below is a chart showing IMVT's trailing twelve month trading history, with the $40 strike highlighted in orange: For the various different available expirations for ORCL options, DAL options, or IMVT options, visit StockOptionsChannel.com.
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468e1aa6-ca3b-431a-b2e4-c7143b58dfc1
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715031.0
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2023-12-01 00:00:00 UTC
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Noteworthy Friday Option Activity: M, ENVX, LNTH
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-m-envx-lnth
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Macy's Inc (Symbol: M), where a total volume of 105,888 contracts has been traded thus far today, a contract volume which is representative of approximately 10.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61% of M's average daily trading volume over the past month, of 17.4 million shares. Particularly high volume was seen for the $16.50 strike call option expiring December 08, 2023, with 10,626 contracts trading so far today, representing approximately 1.1 million underlying shares of M. Below is a chart showing M's trailing twelve month trading history, with the $16.50 strike highlighted in orange:
Enovix Corp (Symbol: ENVX) saw options trading volume of 26,281 contracts, representing approximately 2.6 million underlying shares or approximately 59.6% of ENVX's average daily trading volume over the past month, of 4.4 million shares. Especially high volume was seen for the $13 strike call option expiring December 15, 2023, with 6,169 contracts trading so far today, representing approximately 616,900 underlying shares of ENVX. Below is a chart showing ENVX's trailing twelve month trading history, with the $13 strike highlighted in orange:
And Lantheus Holdings Inc (Symbol: LNTH) saw options trading volume of 4,510 contracts, representing approximately 451,000 underlying shares or approximately 59.5% of LNTH's average daily trading volume over the past month, of 758,230 shares. Particularly high volume was seen for the $75 strike call option expiring January 19, 2024, with 1,043 contracts trading so far today, representing approximately 104,300 underlying shares of LNTH. Below is a chart showing LNTH's trailing twelve month trading history, with the $75 strike highlighted in orange:
For the various different available expirations for M options, ENVX options, or LNTH options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
CSL Average Annual Return
JHDG shares outstanding history
DPW Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $13 strike call option expiring December 15, 2023, with 6,169 contracts trading so far today, representing approximately 616,900 underlying shares of ENVX. Particularly high volume was seen for the $75 strike call option expiring January 19, 2024, with 1,043 contracts trading so far today, representing approximately 104,300 underlying shares of LNTH. Today's Most Active Call & Put Options of the S&P 500 » Also see: CSL Average Annual Return JHDG shares outstanding history DPW Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $16.50 strike call option expiring December 08, 2023, with 10,626 contracts trading so far today, representing approximately 1.1 million underlying shares of M. Below is a chart showing M's trailing twelve month trading history, with the $16.50 strike highlighted in orange: Enovix Corp (Symbol: ENVX) saw options trading volume of 26,281 contracts, representing approximately 2.6 million underlying shares or approximately 59.6% of ENVX's average daily trading volume over the past month, of 4.4 million shares. Especially high volume was seen for the $13 strike call option expiring December 15, 2023, with 6,169 contracts trading so far today, representing approximately 616,900 underlying shares of ENVX. Below is a chart showing ENVX's trailing twelve month trading history, with the $13 strike highlighted in orange: And Lantheus Holdings Inc (Symbol: LNTH) saw options trading volume of 4,510 contracts, representing approximately 451,000 underlying shares or approximately 59.5% of LNTH's average daily trading volume over the past month, of 758,230 shares.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Macy's Inc (Symbol: M), where a total volume of 105,888 contracts has been traded thus far today, a contract volume which is representative of approximately 10.6 million underlying shares (given that every 1 contract represents 100 underlying shares). Particularly high volume was seen for the $16.50 strike call option expiring December 08, 2023, with 10,626 contracts trading so far today, representing approximately 1.1 million underlying shares of M. Below is a chart showing M's trailing twelve month trading history, with the $16.50 strike highlighted in orange: Enovix Corp (Symbol: ENVX) saw options trading volume of 26,281 contracts, representing approximately 2.6 million underlying shares or approximately 59.6% of ENVX's average daily trading volume over the past month, of 4.4 million shares. Below is a chart showing ENVX's trailing twelve month trading history, with the $13 strike highlighted in orange: And Lantheus Holdings Inc (Symbol: LNTH) saw options trading volume of 4,510 contracts, representing approximately 451,000 underlying shares or approximately 59.5% of LNTH's average daily trading volume over the past month, of 758,230 shares.
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Particularly high volume was seen for the $16.50 strike call option expiring December 08, 2023, with 10,626 contracts trading so far today, representing approximately 1.1 million underlying shares of M. Below is a chart showing M's trailing twelve month trading history, with the $16.50 strike highlighted in orange: Enovix Corp (Symbol: ENVX) saw options trading volume of 26,281 contracts, representing approximately 2.6 million underlying shares or approximately 59.6% of ENVX's average daily trading volume over the past month, of 4.4 million shares. Especially high volume was seen for the $13 strike call option expiring December 15, 2023, with 6,169 contracts trading so far today, representing approximately 616,900 underlying shares of ENVX. Below is a chart showing ENVX's trailing twelve month trading history, with the $13 strike highlighted in orange: And Lantheus Holdings Inc (Symbol: LNTH) saw options trading volume of 4,510 contracts, representing approximately 451,000 underlying shares or approximately 59.5% of LNTH's average daily trading volume over the past month, of 758,230 shares.
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fe214247-f7e6-41f8-a2d1-fcefff5f33a7
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715032.0
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2023-12-01 00:00:00 UTC
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Noteworthy Friday Option Activity: CEIX, CVX, KMX
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DCOMP
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https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-ceix-cvx-kmx
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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 CONSOL Energy Inc (Symbol: CEIX), where a total of 2,937 contracts have traded so far, representing approximately 293,700 underlying shares. That amounts to about 70.2% of CEIX's average daily trading volume over the past month of 418,620 shares. Especially high volume was seen for the $110 strike call option expiring December 15, 2023, with 882 contracts trading so far today, representing approximately 88,200 underlying shares of CEIX. Below is a chart showing CEIX's trailing twelve month trading history, with the $110 strike highlighted in orange:
Chevron Corporation (Symbol: CVX) saw options trading volume of 76,263 contracts, representing approximately 7.6 million underlying shares or approximately 69.9% of CVX's average daily trading volume over the past month, of 10.9 million shares. Especially high volume was seen for the $170 strike put option expiring January 19, 2024, with 6,260 contracts trading so far today, representing approximately 626,000 underlying shares of CVX. Below is a chart showing CVX's trailing twelve month trading history, with the $170 strike highlighted in orange:
And Carmax Inc. (Symbol: KMX) options are showing a volume of 12,020 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 67.8% of KMX's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $65 strike put option expiring January 19, 2024, with 3,136 contracts trading so far today, representing approximately 313,600 underlying shares of KMX. Below is a chart showing KMX's trailing twelve month trading history, with the $65 strike highlighted in orange:
For the various different available expirations for CEIX options, CVX options, or KMX options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Dividend Calculator
SABR Stock Predictions
USEG Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $110 strike call option expiring December 15, 2023, with 882 contracts trading so far today, representing approximately 88,200 underlying shares of CEIX. Especially high volume was seen for the $170 strike put option expiring January 19, 2024, with 6,260 contracts trading so far today, representing approximately 626,000 underlying shares of CVX. Especially high volume was seen for the $65 strike put option expiring January 19, 2024, with 3,136 contracts trading so far today, representing approximately 313,600 underlying shares of KMX.
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Below is a chart showing CEIX's trailing twelve month trading history, with the $110 strike highlighted in orange: Chevron Corporation (Symbol: CVX) saw options trading volume of 76,263 contracts, representing approximately 7.6 million underlying shares or approximately 69.9% of CVX's average daily trading volume over the past month, of 10.9 million shares. Especially high volume was seen for the $170 strike put option expiring January 19, 2024, with 6,260 contracts trading so far today, representing approximately 626,000 underlying shares of CVX. Below is a chart showing CVX's trailing twelve month trading history, with the $170 strike highlighted in orange: And Carmax Inc. (Symbol: KMX) options are showing a volume of 12,020 contracts thus far today.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in CONSOL Energy Inc (Symbol: CEIX), where a total of 2,937 contracts have traded so far, representing approximately 293,700 underlying shares. Below is a chart showing CEIX's trailing twelve month trading history, with the $110 strike highlighted in orange: Chevron Corporation (Symbol: CVX) saw options trading volume of 76,263 contracts, representing approximately 7.6 million underlying shares or approximately 69.9% of CVX's average daily trading volume over the past month, of 10.9 million shares. Below is a chart showing KMX's trailing twelve month trading history, with the $65 strike highlighted in orange: For the various different available expirations for CEIX options, CVX options, or KMX options, visit StockOptionsChannel.com.
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Below is a chart showing CEIX's trailing twelve month trading history, with the $110 strike highlighted in orange: Chevron Corporation (Symbol: CVX) saw options trading volume of 76,263 contracts, representing approximately 7.6 million underlying shares or approximately 69.9% of CVX's average daily trading volume over the past month, of 10.9 million shares. Especially high volume was seen for the $170 strike put option expiring January 19, 2024, with 6,260 contracts trading so far today, representing approximately 626,000 underlying shares of CVX. Especially high volume was seen for the $65 strike put option expiring January 19, 2024, with 3,136 contracts trading so far today, representing approximately 313,600 underlying shares of KMX.
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cbfc93cb-af3b-4c10-a83a-93bc7b880f3f
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715033.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: ADBE, LAD, BASE
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-adbe-lad-base
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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 Adobe Inc (Symbol: ADBE), where a total of 33,514 contracts have traded so far, representing approximately 3.4 million underlying shares. That amounts to about 133.3% of ADBE's average daily trading volume over the past month of 2.5 million shares. Especially high volume was seen for the $612.50 strike call option expiring December 01, 2023, with 2,364 contracts trading so far today, representing approximately 236,400 underlying shares of ADBE. Below is a chart showing ADBE's trailing twelve month trading history, with the $612.50 strike highlighted in orange:
Lithia Motors Inc (Symbol: LAD) saw options trading volume of 2,082 contracts, representing approximately 208,200 underlying shares or approximately 126.7% of LAD's average daily trading volume over the past month, of 164,355 shares. Particularly high volume was seen for the $240 strike put option expiring June 21, 2024, with 700 contracts trading so far today, representing approximately 70,000 underlying shares of LAD. Below is a chart showing LAD's trailing twelve month trading history, with the $240 strike highlighted in orange:
And Couchbase Inc (Symbol: BASE) options are showing a volume of 1,807 contracts thus far today. That number of contracts represents approximately 180,700 underlying shares, working out to a sizeable 112.7% of BASE's average daily trading volume over the past month, of 160,370 shares. Particularly high volume was seen for the $22.50 strike call option expiring December 15, 2023, with 1,571 contracts trading so far today, representing approximately 157,100 underlying shares of BASE. Below is a chart showing BASE's trailing twelve month trading history, with the $22.50 strike highlighted in orange:
For the various different available expirations for ADBE options, LAD options, or BASE options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
CYCN Videos
CWCO Dividend Growth Rate
Top Ten Hedge Funds Holding EEMX
The views and 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 $612.50 strike call option expiring December 01, 2023, with 2,364 contracts trading so far today, representing approximately 236,400 underlying shares of ADBE. Particularly high volume was seen for the $240 strike put option expiring June 21, 2024, with 700 contracts trading so far today, representing approximately 70,000 underlying shares of LAD. Particularly high volume was seen for the $22.50 strike call option expiring December 15, 2023, with 1,571 contracts trading so far today, representing approximately 157,100 underlying shares of BASE.
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Especially high volume was seen for the $612.50 strike call option expiring December 01, 2023, with 2,364 contracts trading so far today, representing approximately 236,400 underlying shares of ADBE. Below is a chart showing ADBE's trailing twelve month trading history, with the $612.50 strike highlighted in orange: Lithia Motors Inc (Symbol: LAD) saw options trading volume of 2,082 contracts, representing approximately 208,200 underlying shares or approximately 126.7% of LAD's average daily trading volume over the past month, of 164,355 shares. Below is a chart showing LAD's trailing twelve month trading history, with the $240 strike highlighted in orange: And Couchbase Inc (Symbol: BASE) options are showing a volume of 1,807 contracts thus far today.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Adobe Inc (Symbol: ADBE), where a total of 33,514 contracts have traded so far, representing approximately 3.4 million underlying shares. Especially high volume was seen for the $612.50 strike call option expiring December 01, 2023, with 2,364 contracts trading so far today, representing approximately 236,400 underlying shares of ADBE. Below is a chart showing ADBE's trailing twelve month trading history, with the $612.50 strike highlighted in orange: Lithia Motors Inc (Symbol: LAD) saw options trading volume of 2,082 contracts, representing approximately 208,200 underlying shares or approximately 126.7% of LAD's average daily trading volume over the past month, of 164,355 shares.
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Below is a chart showing ADBE's trailing twelve month trading history, with the $612.50 strike highlighted in orange: Lithia Motors Inc (Symbol: LAD) saw options trading volume of 2,082 contracts, representing approximately 208,200 underlying shares or approximately 126.7% of LAD's average daily trading volume over the past month, of 164,355 shares. Particularly high volume was seen for the $22.50 strike call option expiring December 15, 2023, with 1,571 contracts trading so far today, representing approximately 157,100 underlying shares of BASE. Below is a chart showing BASE's trailing twelve month trading history, with the $22.50 strike highlighted in orange: For the various different available expirations for ADBE options, LAD options, or BASE options, visit StockOptionsChannel.com.
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4ee650f3-c2ce-4049-957a-bd40088fe7bd
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715034.0
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2023-12-01 00:00:00 UTC
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EXCLUSIVE-Activist investor Blackwells plans Wendy's board challenge -sources
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DCOMP
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https://www.nasdaq.com/articles/exclusive-activist-investor-blackwells-plans-wendys-board-challenge-sources-0
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nan
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nan
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By Svea Herbst-Bayliss
Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday.
Blackwells, run by Jason Aintabi, plans to nominate several directors to Wendy's 12-member board, said the sources, who asked not to be identified discussing confidential deliberations.
The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board.
Blackwells antagonized Trian this week over Walt Disney Co DIS.N. Blackwells issued a statement on Thursday criticizing Trian for its attempted board challenge against the entertainment giant and came out in support of Disney CEO Bob Iger.
In the same statement, Blackwells said of Wendy's that Peltz had installed his son, Matthew H. Peltz, as non-executive vice chairman and "packed the board with business partners and friends, while presiding over a period of disappointing results for Wendy’s shareholders." It made no mention of any plans to challenge the Wendy's board.
Blackwells declined to comment further on Friday. Wendy's and Trian did not respond to requests for comment.
The size of Blackwells' stake in Wendy's could not be learned.
Shares of Wendy's rose 4.1% in afternoon trading in New York on Friday to $19.52, giving it a market value of about $4 billion.
Wendy's had seen its stock price drop 15% this year prior to the news of Blackwells' plans, amid investor concerns about decelerating growth in its same-restaurant sales. By comparison, competitor McDonald's Corp's MCD.N stock price has risen 7.33%, Shake Shack Inc's SHAK.N is up 46% and Restaurant Brands International Inc QSR.TO, which owns Burger King and other fast food chains, has climbed 11% this year.
Blackwells made headlines last year when Aintabi pushed exercise bike maker Peloton Interactive Inc PTON.O to fire its CEO John Foley and to explore a sale. Peloton replaced Foley but has not sold itself.
Trian explored taking Wendy's private last year but announced in January that it would no longer pursue this option.
Wendy's reported adjusted third-quarter earnings per share of 27 cents last month, beating analysts' average estimate of 25 cents. Yet it posted same-restaurant sales growth of 2.8% globally and 2.2% for the United States that were lower than a year ago. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.
(Reporting by Svea Herbst-Bayliss in Rhode Island; Editing by Chizu Nomiyama, Kirsten Donovan)
((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters Messaging: svea.herbst.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 Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. By comparison, competitor McDonald's Corp's MCD.N stock price has risen 7.33%, Shake Shack Inc's SHAK.N is up 46% and Restaurant Brands International Inc QSR.TO, which owns Burger King and other fast food chains, has climbed 11% this year. Blackwells made headlines last year when Aintabi pushed exercise bike maker Peloton Interactive Inc PTON.O to fire its CEO John Foley and to explore a sale.
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By Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.
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By Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board. In the same statement, Blackwells said of Wendy's that Peltz had installed his son, Matthew H. Peltz, as non-executive vice chairman and "packed the board with business partners and friends, while presiding over a period of disappointing results for Wendy’s shareholders."
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By Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board. Wendy's had seen its stock price drop 15% this year prior to the news of Blackwells' plans, amid investor concerns about decelerating growth in its same-restaurant sales.
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a2298e2b-eca1-4f74-a55d-4a7bf1a944d0
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715035.0
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2023-12-01 00:00:00 UTC
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Is an Earnings Recession Coming?
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DCOMP
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https://www.nasdaq.com/articles/is-an-earnings-recession-coming
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nan
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nan
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The Q3 earnings reports showed once again that companies have largely been able to defy the doom-and-gloom predictions.
We are not suggesting that the earnings picture is great, but rather that it has proved to be a lot more stable and resilient than many had been willing to give it credit.
Actual Q3 results came in better than expected, with earnings growth turning positive for the first time after three consecutive quarters of declines. There wasn’t much growth to write home about, but that is hardly surprising, given where we are in the economic cycle.
The economy’s resilience in the face of the Fed’s extraordinary tightening has been a pleasant surprise. At this time last year, hardly any economist was projecting that the U.S. economy would generate the type of growth momentum that we saw in the recent upwardly revised GDP growth numbers for 2023 Q3. That said, it makes sense for growth to moderate going forward to reflect the cumulative Fed tightening and the higher-for-longer interest rates outlook.
All of this has direct earnings implications as estimates for the coming periods get trimmed.
To get a sense of what is currently expected, take a look at the chart below. It shows the earnings and revenue growth rates achieved in the preceding four quarters and current earnings and revenue growth expectations for the S&P 500 index for 2023 Q4 and the following three quarters.
Image Source: Zacks Investment Research
As you can see, 2022 Q4 earnings are expected to be down -0.2% on +2.4% higher revenues. This follows the modestly positive earnings growth reading we saw in the preceding period (2023 Q3) and a period of declining earnings in the three quarters before that.
Take another look at this chart before we go back to the ‘earnings recession’ question we raised at the top of this note.
This chart, which accurately represents current bottom-up consensus earnings expectations aggregated to the index level, does not see an earnings recession over the next three quarters. If anything, revenue growth is trending up over this period.
What we do see in the above chart is the three quarters of negative earnings growth from Q4 of 2022 to Q2 of 2023. Recessions are typically seen as two periods of declining growth.
Looking at it this way, the earnings recession issue is the rear-view mirror at this stage, not something on the horizon.
The chart below shows the earnings picture on an annual basis.
Image Source: Zacks Investment Research
It isn’t just the next three quarters where the long-feared recession is missing in action, but actually over the next two years, as you can see above.
The earnings recession proponents have been telling us for more than a year that earnings estimates were out-of-sync with the underlying economic reality and needed to be cut in a big way.
We did see a period of significant negative estimate revisions that started in April 2022 and lasted for about a year. During that period, estimates in the aggregate declined by about -15% from peak to trough, with the magnitude of negative revisions to several sectors exceeding -20%. These included Construction, Consumer Discretionary, Technology, and Retail.
Estimates started stabilizing in April 2023 and actually increased for several major sectors, including the Tech sector. This favorable revisions trend remained in place until October 2023, when estimates started moving lower again.
The chart below shows how earnings growth expectations for the current quarter have evolved since the quarter got underway.
Image Source: Zacks Investment Research
Estimates for full-year 2024 have also been coming down. The chart below shows how the aggregate bottom-up earnings total for 2024 has evolved lately.
Image Source: Zacks Investment Research
The concerning aspect of this negative revisions trend is that it reverses a period of stabilizing and even improving estimate revisions.
The relatively sound explanation for this trend is that management teams are trying to anchor expectations to beat them easily. The problematic explanation would be that this is finally the beginning of the negative earnings revisions trend that the market bears had been warning us of.
My money is on the former explanation, but you can bet that we will be watching this trend very closely.
This Week’s Reporting Docket
The reality of an earning season is that it never ends completely. In fact, every quarter has this one period when the older reporting cycle hasn’t completely ended yet, but the new one has gotten underway.
This week, we will enter such an overlapping stage when AutoZone AZO on Tuesday (12/5) is scheduled to report results for its fiscal quarter ending in November.
We have several other companies, including Broadcom AVGO and Campbell Soup CPB, that will be reporting results for their fiscal quarters ending in October.
It doesn’t matter to you how we categorize these quarterly reports for companies with fiscal periods ending in October and November. But if you are curious, we will tell you that the Broadcom and Campbell Soup reports will get clubbed as part of the 2022 Q3 bucket, while the AutoZone report will officially kick-start the 2023 Q4 reporting cycle for us.
For a detailed look at the overall earnings picture, including expectations for the coming periods, please check out our weekly Earnings Trends report >>>> Looking Ahead to Q4 Earnings
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To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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That said, it makes sense for growth to moderate going forward to reflect the cumulative Fed tightening and the higher-for-longer interest rates outlook. This week, we will enter such an overlapping stage when AutoZone AZO on Tuesday (12/5) is scheduled to report results for its fiscal quarter ending in November. We have several other companies, including Broadcom AVGO and Campbell Soup CPB, that will be reporting results for their fiscal quarters ending in October.
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It shows the earnings and revenue growth rates achieved in the preceding four quarters and current earnings and revenue growth expectations for the S&P 500 index for 2023 Q4 and the following three quarters. We have several other companies, including Broadcom AVGO and Campbell Soup CPB, that will be reporting results for their fiscal quarters ending in October. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report AutoZone, Inc. (AZO) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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It shows the earnings and revenue growth rates achieved in the preceding four quarters and current earnings and revenue growth expectations for the S&P 500 index for 2023 Q4 and the following three quarters. For a detailed look at the overall earnings picture, including expectations for the coming periods, please check out our weekly Earnings Trends report >>>> Looking Ahead to Q4 Earnings Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report AutoZone, Inc. (AZO) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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If anything, revenue growth is trending up over this period. What we do see in the above chart is the three quarters of negative earnings growth from Q4 of 2022 to Q2 of 2023. Image Source: Zacks Investment Research The concerning aspect of this negative revisions trend is that it reverses a period of stabilizing and even improving estimate revisions.
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891243eb-020e-4bb6-9deb-7fcf1c5150e0
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715036.0
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2023-12-01 00:00:00 UTC
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Behind Wall Street's Best Month of the Year
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DCOMP
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https://www.nasdaq.com/articles/behind-wall-streets-best-month-of-the-year
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nan
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nan
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Wall Street started out the week by unpacking spending data amid the Black Friday and Cyber Monday retail traditions. While stocks faltered following the events, Tuesday saw the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) correct themselves amid strong consumer confidence data. By midweek, a trifecta of positive economic updates got failed to lift the major benchmarks highs, though Wall Street still managed to close out its best month of the year with a bang. As of this writing, and with December underway, the blue-chip index and SPX are heading for their fifth-straight weekly wins.
Stocks to Watch This Month
Holiday seasonality is something to keep an eye on, as retail stocks see volatility amid an uptick in consumer spending. These two shipping stocks, for example, typically face serious holiday headwinds. Meanwhile, chip stock Broadcom (AVGO) has a history of outperformance during the final month of the year, as does gold mining concern Newmont (NEM). Elsewhere, a bull signal is flashing for PulteGroup (PHM), while American Eagle Outfitters (AEO) is primed for put traders' speculation.
Jobs Data, Earnings Kick Off December
Alongside a host of jobs data, there's a slew of major earnings reports set to kick off December, including results from Chewy (CHWY), Dollar General (DG), GameStop (GME). Plus, this is how options traders should play the Santa Claus rally, and why buying opportunities can be found in SPX pullbacks.
The views and 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 stocks faltered following the events, Tuesday saw the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) correct themselves amid strong consumer confidence data. By midweek, a trifecta of positive economic updates got failed to lift the major benchmarks highs, though Wall Street still managed to close out its best month of the year with a bang. Meanwhile, chip stock Broadcom (AVGO) has a history of outperformance during the final month of the year, as does gold mining concern Newmont (NEM).
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Wall Street started out the week by unpacking spending data amid the Black Friday and Cyber Monday retail traditions. Stocks to Watch This Month Holiday seasonality is something to keep an eye on, as retail stocks see volatility amid an uptick in consumer spending. Jobs Data, Earnings Kick Off December Alongside a host of jobs data, there's a slew of major earnings reports set to kick off December, including results from Chewy (CHWY), Dollar General (DG), GameStop (GME).
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While stocks faltered following the events, Tuesday saw the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) correct themselves amid strong consumer confidence data. Stocks to Watch This Month Holiday seasonality is something to keep an eye on, as retail stocks see volatility amid an uptick in consumer spending. Jobs Data, Earnings Kick Off December Alongside a host of jobs data, there's a slew of major earnings reports set to kick off December, including results from Chewy (CHWY), Dollar General (DG), GameStop (GME).
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By midweek, a trifecta of positive economic updates got failed to lift the major benchmarks highs, though Wall Street still managed to close out its best month of the year with a bang. As of this writing, and with December underway, the blue-chip index and SPX are heading for their fifth-straight weekly wins. Stocks to Watch This Month Holiday seasonality is something to keep an eye on, as retail stocks see volatility amid an uptick in consumer spending.
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55f8fae3-bc89-4175-aeb2-dfaef140a911
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715037.0
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2023-12-01 00:00:00 UTC
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Friday Sector Leaders: Financial, Services
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DCOMP
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https://www.nasdaq.com/articles/friday-sector-leaders%3A-financial-services-1
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nan
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nan
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The best performing sector as of midday Friday is the Financial sector, higher by 1.8%. Within that group, Boston Properties Inc (Symbol: BXP) and Zions Bancorporation, N.A. (Symbol: ZION) are two large stocks leading the way, showing a gain of 10.6% and 8.8%, respectively. Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (Symbol: XLF), which is up 0.6% on the day, and up 6.55% year-to-date. Boston Properties Inc, meanwhile, is down 1.11% year-to-date, and Zions Bancorporation, N.A., is down 16.59% year-to-date. ZION makes up approximately 0.1% of the underlying holdings of XLF.
The next best performing sector is the Services sector, higher by 1.7%. Among large Services stocks, Ulta Beauty Inc (Symbol: ULTA) and Paramount Global (Symbol: PARA) are the most notable, showing a gain of 10.2% and 9.3%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 1.2% in midday trading, and up 27.63% on a year-to-date basis. Ulta Beauty Inc, meanwhile, is down 0.46% year-to-date, and Paramount Global, is down 6.03% year-to-date. Combined, ULTA and PARA make up approximately 0.6% of the underlying holdings of IYC.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. As you can see, nine sectors are up on the day, while none of the sectors are down.
SECTOR % CHANGE
Financial +1.8%
Services +1.7%
Industrial +1.6%
Materials +1.5%
Consumer Products +1.3%
Utilities +1.1%
Healthcare +1.1%
Technology & Communications +0.8%
Energy +0.6%
25 Dividend Giants Widely Held By ETFs »
Also see:
Cheap Consumer Stocks
CTAQ YTD Return
Institutional Holders of ITIC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Combined, ULTA and PARA make up approximately 0.6% of the underlying holdings of IYC. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. Financial +1.8% Services +1.7% Industrial +1.6% Materials +1.5% Consumer Products +1.3% Utilities +1.1% Healthcare +1.1% Technology & Communications +0.8% Energy +0.6% 25 Dividend Giants Widely Held By ETFs » Also see: Cheap Consumer Stocks CTAQ YTD Return Institutional Holders of ITIC The views and 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 best performing sector as of midday Friday is the Financial sector, higher by 1.8%. Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (Symbol: XLF), which is up 0.6% on the day, and up 6.55% year-to-date. Among large Services stocks, Ulta Beauty Inc (Symbol: ULTA) and Paramount Global (Symbol: PARA) are the most notable, showing a gain of 10.2% and 9.3%, respectively.
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Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (Symbol: XLF), which is up 0.6% on the day, and up 6.55% year-to-date. Among large Services stocks, Ulta Beauty Inc (Symbol: ULTA) and Paramount Global (Symbol: PARA) are the most notable, showing a gain of 10.2% and 9.3%, respectively. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday.
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Among financial ETFs, one ETF following the sector is the Financial Select Sector SPDR ETF (Symbol: XLF), which is up 0.6% on the day, and up 6.55% year-to-date. Among large Services stocks, Ulta Beauty Inc (Symbol: ULTA) and Paramount Global (Symbol: PARA) are the most notable, showing a gain of 10.2% and 9.3%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 1.2% in midday trading, and up 27.63% on a year-to-date basis.
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4b18b418-4ea4-42ab-8982-24b026585747
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715038.0
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2023-12-01 00:00:00 UTC
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US STOCKS-Wall St rallies as Powell cements peak rate bets
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DCOMP
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https://www.nasdaq.com/articles/us-stocks-wall-st-rallies-as-powell-cements-peak-rate-bets
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nan
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nan
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By Stephen Culp
NEW YORK, Dec 1 (Reuters) - U.S. stocks advanced on Friday, starting December with a broad rally as remarks from Federal Reserve Chairman Jerome Powell bolstered the view that interest rates have peaked.
All three major U.S. stock indexes were higher, with economically sensitive transports .DJT and smallcaps .RUT enjoying the most robust gains.
"People are bargain hunting. The stocks that haven't participated in the rally this year are powering the market higher," said Jay Hatfield, portfolio manager at InfraCap in New York. "This is clearly a broad-based rally, and it has legs."
All three indexes are on course to notch their fifth consecutive weekly percentage gains, the day after wrapping up a banner month in which the S&P 500 and the Nasdaq registered their biggest one-month percentage gains since July 2022, and the Dow close at its highest level since January 2022.
If the S&P 500 ends at or above its current level, it will be the highest close for the benchmark index so far this year.
In prepared remarks, Powell acknowledged the central bank's need to "move forward carefully" amid signs of economic softening, as the risks of over- and under-tightening its monetary policy are becoming more balanced.
"(Powell) used the word 'balanced,' and the message he's sending is the Fed's not going to change its rhetoric, but things are going the way they want them to go and they're not going to raised rates again," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "They're done, they're finished, and that's what the market thinks."
Data released on Friday showed U.S. manufacturing continues to contract as factories contend with decreasing new orders, falling inventories and labor pressures.
At 2:14 p.m. ET, the Dow Jones Industrial Average .DJI rose 258.01 points, or 0.72%, to 36,208.9, the S&P 500 .SPX gained 21.94 points, or 0.48%, at 4,589.74 and the Nasdaq Composite .IXIC added 51.37 points, or 0.36%, at 14,277.59.
Among the 11 major sectors of the S&P 500, real estate .SPLRCR notched the most robust percentage gains, while communication services .SPLRCL was the sole decliner.
TeslaTSLA.O underperformed megacap peers, falling 1.2% as the electric vehicle maker priced its Cybertruck above its initial forecast.
PfizerPFE.N slid 4.6% as the drugmaker dropped plans to advance a twice-daily version of oral weight-loss drug danuglipron into late-stage studies, delaying its entry into the lucrative market.
U.S.-listed shares of AlibabaBABA.N slipped 1.4% following Morgan Stanley's downgrade of the e-commerce giant's stock.
Marvell TechnologyMRVL.O shed 5.4% after the chipmaker's fourth-quarter revenue forecast fell short of Street estimates.
Ulta BeautyULTA.O surged 10.3 after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.
Paramount GlobalPARA.O jumped 9.6% following a report the media company and Apple AAPL.O have discussed bundling their streaming services at a discount.
Advancing issues outnumbered decliners on the NYSE by a 5.50-to-1 ratio; on Nasdaq, a 3.00-to-1 ratio favored advancers.
The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 87 new highs and 68 new lows.
U.S. inflation is falling https://tmsnrt.rs/3R3OjrB
(Reporting by Stephen Culp; Additional reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Richard Chang)
((stephen.culp@thomsonreuters.com; 646-223-6076))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks advanced on Friday, starting December with a broad rally as remarks from Federal Reserve Chairman Jerome Powell bolstered the view that interest rates have peaked. In prepared remarks, Powell acknowledged the central bank's need to "move forward carefully" amid signs of economic softening, as the risks of over- and under-tightening its monetary policy are becoming more balanced. "(Powell) used the word 'balanced,' and the message he's sending is the Fed's not going to change its rhetoric, but things are going the way they want them to go and they're not going to raised rates again," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks advanced on Friday, starting December with a broad rally as remarks from Federal Reserve Chairman Jerome Powell bolstered the view that interest rates have peaked. All three major U.S. stock indexes were higher, with economically sensitive transports .DJT and smallcaps .RUT enjoying the most robust gains. U.S. inflation is falling https://tmsnrt.rs/3R3OjrB (Reporting by Stephen Culp; Additional reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Richard Chang) ((stephen.culp@thomsonreuters.com; 646-223-6076)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks advanced on Friday, starting December with a broad rally as remarks from Federal Reserve Chairman Jerome Powell bolstered the view that interest rates have peaked. All three indexes are on course to notch their fifth consecutive weekly percentage gains, the day after wrapping up a banner month in which the S&P 500 and the Nasdaq registered their biggest one-month percentage gains since July 2022, and the Dow close at its highest level since January 2022. U.S. inflation is falling https://tmsnrt.rs/3R3OjrB (Reporting by Stephen Culp; Additional reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Richard Chang) ((stephen.culp@thomsonreuters.com; 646-223-6076)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Stephen Culp NEW YORK, Dec 1 (Reuters) - U.S. stocks advanced on Friday, starting December with a broad rally as remarks from Federal Reserve Chairman Jerome Powell bolstered the view that interest rates have peaked. All three major U.S. stock indexes were higher, with economically sensitive transports .DJT and smallcaps .RUT enjoying the most robust gains. All three indexes are on course to notch their fifth consecutive weekly percentage gains, the day after wrapping up a banner month in which the S&P 500 and the Nasdaq registered their biggest one-month percentage gains since July 2022, and the Dow close at its highest level since January 2022.
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39b7f597-18bc-4183-a10d-ffb8a6b6748f
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715039.0
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2023-12-01 00:00:00 UTC
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Friday Sector Laggards: Energy, Technology & Communications
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DCOMP
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https://www.nasdaq.com/articles/friday-sector-laggards%3A-energy-technology-communications-1
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nan
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nan
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In afternoon trading on Friday, Energy stocks are the worst performing sector, higher by 0.6%. Within the sector, Targa Resources Corp (Symbol: TRGP) and Coterra Energy Inc (Symbol: CTRA) are two large stocks that are lagging, showing a loss of 0.3% and 0.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 0.5% on the day, and up 3.29% year-to-date. Targa Resources Corp, meanwhile, is up 30.21% year-to-date, and Coterra Energy Inc is up 17.88% year-to-date. Combined, TRGP and CTRA make up approximately 3.0% of the underlying holdings of XLE.
The next worst performing sector is the Technology & Communications sector, higher by 0.8%. Among large Technology & Communications stocks, Intel Corp (Symbol: INTC) and Arista Networks Inc (Symbol: ANET) are the most notable, showing a loss of 1.8% and 1.6%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is flat on the day in midday trading, and up 51.10% on a year-to-date basis. Intel Corp, meanwhile, is up 66.98% year-to-date, and Arista Networks Inc is up 78.85% year-to-date. Combined, INTC and ANET make up approximately 2.6% of the underlying holdings of XLK.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. As you can see, nine sectors are up on the day, while none of the sectors are down.
SECTOR % CHANGE
Financial +1.8%
Services +1.7%
Industrial +1.6%
Materials +1.5%
Consumer Products +1.3%
Utilities +1.1%
Healthcare +1.1%
Technology & Communications +0.8%
Energy +0.6%
25 Dividend Giants Widely Held By ETFs »
Also see:
Good Cheap Growth Stocks To Buy
JFIN YTD Return
ADPV 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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In afternoon trading on Friday, Energy stocks are the worst performing sector, higher by 0.6%. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Friday. Financial +1.8% Services +1.7% Industrial +1.6% Materials +1.5% Consumer Products +1.3% Utilities +1.1% Healthcare +1.1% Technology & Communications +0.8% Energy +0.6% 25 Dividend Giants Widely Held By ETFs » Also see: Good Cheap Growth Stocks To Buy JFIN YTD Return ADPV 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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Within the sector, Targa Resources Corp (Symbol: TRGP) and Coterra Energy Inc (Symbol: CTRA) are two large stocks that are lagging, showing a loss of 0.3% and 0.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 0.5% on the day, and up 3.29% year-to-date. Among large Technology & Communications stocks, Intel Corp (Symbol: INTC) and Arista Networks Inc (Symbol: ANET) are the most notable, showing a loss of 1.8% and 1.6%, respectively.
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Within the sector, Targa Resources Corp (Symbol: TRGP) and Coterra Energy Inc (Symbol: CTRA) are two large stocks that are lagging, showing a loss of 0.3% and 0.2%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 0.5% on the day, and up 3.29% year-to-date. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is flat on the day in midday trading, and up 51.10% on a year-to-date basis.
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Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is up 0.5% on the day, and up 3.29% year-to-date. Among large Technology & Communications stocks, Intel Corp (Symbol: INTC) and Arista Networks Inc (Symbol: ANET) are the most notable, showing a loss of 1.8% and 1.6%, respectively. One ETF closely tracking Technology & Communications stocks is the Technology Select Sector SPDR ETF (XLK), which is flat on the day in midday trading, and up 51.10% on a year-to-date basis.
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6e0b1431-f91c-4312-a90e-bc5032a68e87
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715040.0
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2023-12-01 00:00:00 UTC
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Why Ulta Beauty Stock Popped Today
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DCOMP
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https://www.nasdaq.com/articles/why-ulta-beauty-stock-popped-today
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nan
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nan
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Shares of cosmetics retail chain Ulta Beauty (NASDAQ: ULTA) popped on Friday after the company reported financial results for the third quarter of 2023. As of 1 p.m. ET, Ulta Beauty stock was up about 12%.
Beauty spend remains resilient
In Q3 (which ended Oct. 28), Ulta Beauty had net sales of almost $2.5 billion, which was up a healthy 6.4% year over year. Net-sales growth was primarily driven by same-store-sales growth of 4.5%. But the company also opened 12 net new stores during the quarter, which provided a small boost to sales as well.
Ulta Beauty's Q3 gross profit margin was 39.9%, and its operating margin was 13.1%. Both of these profit metrics were down from the prior-year period.
That said, Ulta Beauty's profits were still good and within normal ranges. The chart doesn't reflect the company's Q3 results, but it does show that its gross margin and operating margin were still strong in Q3 compared to its averages over the last five years.
ULTA Gross Profit Margin (Quarterly) data by YCharts
Ulta Beauty is still finding ways to grow. And its profits are holding up nicely. Both of these things were encouraging to investors today.
What to watch with Ulta Beauty
Even after today's rally, Ulta Beauty stock is still about 15% lower than its all-time high. Management has apparently believed its stock was too cheap in 2023, considering it's repurchased 1.8 million shares for $841 million year to date. This makes share repurchases a huge part of its capital-allocation strategy.
In part due to aggressive share repurchases, Ulta Beauty's cash and cash equivalents is now down about 50% year over year, and it borrowed nearly $200 million on a short-term basis in Q3. But it's customary for the company's cash to dwindle this time of year as it builds up inventory for the holiday shopping season. The fourth quarter then usually brings cash back up.
Ulta Beauty CEO Dave Kimbell said, "The holiday is off to a good start." And this is likely why the company raised the low end of its full-year sales guidance, with management now expecting its top line to grow 5% to a new all-time high.
In summary, things are still looking good for Ulta Beauty.
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Jon Quast has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ulta Beauty. 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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But it's customary for the company's cash to dwindle this time of year as it builds up inventory for the holiday shopping season. And this is likely why the company raised the low end of its full-year sales guidance, with management now expecting its top line to grow 5% to a new all-time high. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Ulta Beauty wasn't one of them!
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Ulta Beauty's Q3 gross profit margin was 39.9%, and its operating margin was 13.1%. ULTA Gross Profit Margin (Quarterly) data by YCharts Ulta Beauty is still finding ways to grow. In part due to aggressive share repurchases, Ulta Beauty's cash and cash equivalents is now down about 50% year over year, and it borrowed nearly $200 million on a short-term basis in Q3.
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Beauty spend remains resilient In Q3 (which ended Oct. 28), Ulta Beauty had net sales of almost $2.5 billion, which was up a healthy 6.4% year over year. ULTA Gross Profit Margin (Quarterly) data by YCharts Ulta Beauty is still finding ways to grow. What to watch with Ulta Beauty Even after today's rally, Ulta Beauty stock is still about 15% lower than its all-time high.
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ET, Ulta Beauty stock was up about 12%. That said, Ulta Beauty's profits were still good and within normal ranges. In part due to aggressive share repurchases, Ulta Beauty's cash and cash equivalents is now down about 50% year over year, and it borrowed nearly $200 million on a short-term basis in Q3.
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7df00282-f073-4ea4-bc29-01b9d213269a
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715041.0
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2023-12-01 00:00:00 UTC
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DigitalBridge Group's Series C Preferred Stock Shares Cross 8% Yield Mark
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DCOMP
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https://www.nasdaq.com/articles/digitalbridge-groups-series-c-preferred-stock-shares-cross-8-yield-mark
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nan
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nan
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In trading on Friday, shares of DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $22.20 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, DBRG.PRH was trading at a 10.36% discount to its liquidation preference amount, versus the average discount of 16.12% in the "Real Estate" category.
Below is a dividend history chart for DBRG.PRH, showing historical dividend payments on DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock :
In Friday trading, DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) is currently off about 0.5% on the day, while the common shares (Symbol: DBRG) are up about 2.2%.
Click here to find out the 50 highest yielding preferreds »
Also see:
Utilities Stocks Hedge Funds Are Selling
LNC YTD Return
CCRN 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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In trading on Friday, shares of DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $22.20 on the day. Below is a dividend history chart for DBRG.PRH, showing historical dividend payments on DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock : In Friday trading, DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) is currently off about 0.5% on the day, while the common shares (Symbol: DBRG) are up about 2.2%. Click here to find out the 50 highest yielding preferreds » Also see: Utilities Stocks Hedge Funds Are Selling LNC YTD Return CCRN 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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In trading on Friday, shares of DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $22.20 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. Below is a dividend history chart for DBRG.PRH, showing historical dividend payments on DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock : In Friday trading, DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) is currently off about 0.5% on the day, while the common shares (Symbol: DBRG) are up about 2.2%.
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In trading on Friday, shares of DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $22.20 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. Below is a dividend history chart for DBRG.PRH, showing historical dividend payments on DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock : In Friday trading, DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) is currently off about 0.5% on the day, while the common shares (Symbol: DBRG) are up about 2.2%.
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In trading on Friday, shares of DigitalBridge Group Inc's 7.125% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRH) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $22.20 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, DBRG.PRH was trading at a 10.36% discount to its liquidation preference amount, versus the average discount of 16.12% in the "Real Estate" category.
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c07c16dd-93da-46c1-a91d-e9ffddd4ea95
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715042.0
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2023-12-01 00:00:00 UTC
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LXP Industrial Trust's Series C Preferred Stock Yield Pushes Past 7%
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DCOMP
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https://www.nasdaq.com/articles/lxp-industrial-trusts-series-c-preferred-stock-yield-pushes-past-7
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nan
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nan
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In trading on Friday, shares of LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.25), with shares changing hands as low as $45.40 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, LXP.PRC was trading at a 6.58% discount to its liquidation preference amount, versus the average discount of 16.12% in the "Real Estate" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.8643.
Below is a dividend history chart for LXP.PRC, showing historical dividend payments on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock:
Free Report: Top 8%+ Dividends (paid monthly)
In Friday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) is currently down about 2.1% on the day, while the common shares (Symbol: LXP) are up about 1.9%.
Click here to find out the 50 highest yielding preferreds »
Also see:
Funds Holding SALE
Top Ten Hedge Funds Holding CELH
PROC 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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In trading on Friday, shares of LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.25), with shares changing hands as low as $45.40 on the day. Below is a dividend history chart for LXP.PRC, showing historical dividend payments on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock: Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) is currently down about 2.1% on the day, while the common shares (Symbol: LXP) are up about 1.9%. Click here to find out the 50 highest yielding preferreds » Also see: Funds Holding SALE Top Ten Hedge Funds Holding CELH PROC 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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In trading on Friday, shares of LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.25), with shares changing hands as low as $45.40 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. Below is a dividend history chart for LXP.PRC, showing historical dividend payments on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock: Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) is currently down about 2.1% on the day, while the common shares (Symbol: LXP) are up about 1.9%.
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In trading on Friday, shares of LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.25), with shares changing hands as low as $45.40 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. Below is a dividend history chart for LXP.PRC, showing historical dividend payments on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock: Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) is currently down about 2.1% on the day, while the common shares (Symbol: LXP) are up about 1.9%.
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In trading on Friday, shares of LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (Symbol: LXP.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.25), with shares changing hands as low as $45.40 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, LXP.PRC was trading at a 6.58% discount to its liquidation preference amount, versus the average discount of 16.12% in the "Real Estate" category.
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dc972194-f1e9-4947-b7b6-9428c74c9432
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715043.0
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2023-12-01 00:00:00 UTC
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Organic Growth Aids Webster Financial (WBS), Higher Debt Ails
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DCOMP
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https://www.nasdaq.com/articles/organic-growth-aids-webster-financial-wbs-higher-debt-ails-0
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nan
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nan
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Webster Financial Corporation’s WBS top-line growth has been aided by a rise in NII and non-interest income over the years. Strategic acquisitions have fortified the company’s balance sheet. However, an unsound liquidity position makes capital distributions seem unsustainable.
Webster Financial has an impressive revenue growth story. NII and non-interest income have been rising over the years. Also, its merger deal with Sterling Bancorp has expanded selected commercial lending portfolios, HSA Bank and digital banking offerings. This has helped in diversification and the unlocking of new revenue-growth opportunities.
Management expects NII (non-fully tax-equivalent or non-FTE) in the range of $580-$590 million (excluding accretion) in fourth-quarter 2023. Also, non-interest income is projected to be around $90 million.
WBS exhibits a healthy balance sheet position. Deposits and loans recorded a three-year (2019-2022) compounded annual growth rate of 32.3% and 35.4%, respectively, with the rising trend continuing in the first nine months of 2023. Going forward, we believe that growth in deposit and loan balances will keep supporting its financials.
Additionally, in January 2023, the company acquired StoneCastle Insured Sweep, LLC, which helped it to diversify its funding capabilities and add another technology-enabled platform to its system. Such strategic acquisitions have fortified the company’s balance sheet. Management anticipates loan growth to be between 1% and 2% in fourth-quarter 2023 on a sequential basis.
Webster Financial efforts to drive cost savings have been beneficial as the metric declined in the first nine months of 2023. For fourth-quarter 2023, management suggests adjusted expenses of around $305 million, with an efficiency ratio of 42%.
However, volatile cash levels, along with high debt, make us believe that Webster Financial may not be able to meet its debt obligations if the economic situation worsens. Moreover, the times interest earned ratio of 5 declined sequentially in the third quarter of 2023.
The sustainability of WBS’ capital-distribution activities keeps us apprehensive. The latest dividend hike of 21% was announced back in April 2019. Although it repurchased around 1.2 million shares in third-quarter 2023, it did not repurchase any shares in the first half of 2023. Given the low liquidity levels, the capital distribution activities do not seem sustainable in the long run.
The loan portfolio of Webster Financial mostly comprises commercial loans (including commercial non-mortgage and commercial real estate loans). Such loans make up 59.6% of total loans and leases as of Sep 30, 2023. The current rapidly changing macroeconomic backdrop is likely to put some strain on commercial lending, thus hurting the company’s financials if the economic situation worsens.
WBS shares have gained 16.6% over the past six months compared with the industry’s 6.9% growth.
Image Source: Zacks Investment Research
WBS presently carries a Zacks Rank #3 (Hold).
Finance Stocks Worth Considering
A couple of better-ranked stocks from the finance space are Merchants Bancorp MBIN and Arrow Financial Corporation AROW. Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for MBIN’s 2023 earnings has moved 10.9% north over the past 60 days. The company’s share price has increased 36.7% over the past six months.
The Zacks Consensus Estimate for AROW’s fiscal 2023 earnings has been revised 13% upward over the past 60 days. The stock has gained 26.8% over the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Webster Financial Corporation (WBS) : Free Stock Analysis Report
Arrow Financial Corporation (AROW) : Free Stock Analysis Report
Merchants Bancorp (MBIN) : 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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Webster Financial Corporation’s WBS top-line growth has been aided by a rise in NII and non-interest income over the years. Additionally, in January 2023, the company acquired StoneCastle Insured Sweep, LLC, which helped it to diversify its funding capabilities and add another technology-enabled platform to its system. The current rapidly changing macroeconomic backdrop is likely to put some strain on commercial lending, thus hurting the company’s financials if the economic situation worsens.
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However, an unsound liquidity position makes capital distributions seem unsustainable. Finance Stocks Worth Considering A couple of better-ranked stocks from the finance space are Merchants Bancorp MBIN and Arrow Financial Corporation AROW. Click to get this free report Webster Financial Corporation (WBS) : Free Stock Analysis Report Arrow Financial Corporation (AROW) : Free Stock Analysis Report Merchants Bancorp (MBIN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The loan portfolio of Webster Financial mostly comprises commercial loans (including commercial non-mortgage and commercial real estate loans). This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Click to get this free report Webster Financial Corporation (WBS) : Free Stock Analysis Report Arrow Financial Corporation (AROW) : Free Stock Analysis Report Merchants Bancorp (MBIN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Going forward, we believe that growth in deposit and loan balances will keep supporting its financials. The stock has gained 26.8% over the past six months. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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8a9cc2df-8a6c-4400-a2f1-b4614b3a9bea
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715044.0
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2023-12-01 00:00:00 UTC
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FNB's Preferred Stock, Series E Shares Cross 7.5% Yield Mark
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DCOMP
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https://www.nasdaq.com/articles/fnbs-preferred-stock-series-e-shares-cross-7.5-yield-mark
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nan
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nan
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In trading on Friday, shares of FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.813), with shares changing hands as low as $24.10 on the day. This compares to an average yield of 7.00% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FNB.PRE was trading at a 3.16% discount to its liquidation preference amount, versus the average discount of 13.39% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
The chart below shows the one year performance of FNB.PRE shares, versus FNB:
Below is a dividend history chart for FNB.PRE, showing historical dividend payments on FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E :
In Friday trading, FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) is currently off about 0.2% on the day, while the common shares (Symbol: FNB) are up about 3.6%.
Also see:
Top Ten Hedge Funds Holding NPP
PFHC Insider Buying
PING Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.813), with shares changing hands as low as $24.10 on the day. The chart below shows the one year performance of FNB.PRE shares, versus FNB: Below is a dividend history chart for FNB.PRE, showing historical dividend payments on FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E : In Friday trading, FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) is currently off about 0.2% on the day, while the common shares (Symbol: FNB) are up about 3.6%. Also see: Top Ten Hedge Funds Holding NPP PFHC Insider Buying PING Stock Predictions The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.813), with shares changing hands as low as $24.10 on the day. This compares to an average yield of 7.00% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of FNB.PRE shares, versus FNB: Below is a dividend history chart for FNB.PRE, showing historical dividend payments on FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E : In Friday trading, FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) is currently off about 0.2% on the day, while the common shares (Symbol: FNB) are up about 3.6%.
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In trading on Friday, shares of FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.813), with shares changing hands as low as $24.10 on the day. This compares to an average yield of 7.00% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of FNB.PRE shares, versus FNB: Below is a dividend history chart for FNB.PRE, showing historical dividend payments on FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E : In Friday trading, FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) is currently off about 0.2% on the day, while the common shares (Symbol: FNB) are up about 3.6%.
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In trading on Friday, shares of FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: FNB.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.813), with shares changing hands as low as $24.10 on the day. This compares to an average yield of 7.00% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FNB.PRE was trading at a 3.16% discount to its liquidation preference amount, versus the average discount of 13.39% in the "Financial" category.
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9df5b38f-975e-440f-8a43-603550c2ede7
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715045.0
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2023-12-01 00:00:00 UTC
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Friday 12/1 Insider Buying Report: SSSS, RNGR
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DCOMP
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https://www.nasdaq.com/articles/friday-12-1-insider-buying-report%3A-ssss-rngr
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nan
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nan
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, SuRo Capital's Chairman, CEO and President, Mark D. Klein, made a $160,537 buy of SSSS, purchasing 40,300 shares at a cost of $3.98 a piece. SuRo Capital Corp. is trading up about 2.6% on the day Friday. Before this latest buy, Klein made one other purchase in the past year, buying $35,100 shares for a cost of $3.90 each.
And also on Thursday, Chief Executive Officer Stuart Bodden bought $146,935 worth of Ranger Energy Services, buying 15,000 shares at a cost of $9.80 each. This buy marks the first one filed by Bodden in the past year. Ranger Energy Services is trading up about 5.6% on the day Friday. So far Bodden is in the green, up about 7.9% on their buy based on today's trading high of $10.57.
VIDEO: Friday 12/1 Insider Buying Report: SSSS, RNGR
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. On Thursday, SuRo Capital's Chairman, CEO and President, Mark D. Klein, made a $160,537 buy of SSSS, purchasing 40,300 shares at a cost of $3.98 a piece. And also on Thursday, Chief Executive Officer Stuart Bodden bought $146,935 worth of Ranger Energy Services, buying 15,000 shares at a cost of $9.80 each.
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On Thursday, SuRo Capital's Chairman, CEO and President, Mark D. Klein, made a $160,537 buy of SSSS, purchasing 40,300 shares at a cost of $3.98 a piece. Before this latest buy, Klein made one other purchase in the past year, buying $35,100 shares for a cost of $3.90 each. And also on Thursday, Chief Executive Officer Stuart Bodden bought $146,935 worth of Ranger Energy Services, buying 15,000 shares at a cost of $9.80 each.
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Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. On Thursday, SuRo Capital's Chairman, CEO and President, Mark D. Klein, made a $160,537 buy of SSSS, purchasing 40,300 shares at a cost of $3.98 a piece. Before this latest buy, Klein made one other purchase in the past year, buying $35,100 shares for a cost of $3.90 each.
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On Thursday, SuRo Capital's Chairman, CEO and President, Mark D. Klein, made a $160,537 buy of SSSS, purchasing 40,300 shares at a cost of $3.98 a piece. SuRo Capital Corp. is trading up about 2.6% on the day Friday. So far Bodden is in the green, up about 7.9% on their buy based on today's trading high of $10.57.
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0fccbfc9-eb8f-4596-93ba-c387e5f54ea7
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715046.0
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2023-12-01 00:00:00 UTC
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US obesity docs expect Lilly weight-loss drug to show similar heart benefit as Wegovy
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DCOMP
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https://www.nasdaq.com/articles/us-obesity-docs-expect-lilly-weight-loss-drug-to-show-similar-heart-benefit-as-wegovy-0
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nan
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nan
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By Patrick Wingrove
Dec 1 (Reuters) - Some leading U.S. obesity specialists say they expect Eli Lilly’s LLY.N powerful weight-loss drug Zepbound will produce the same or similar heart benefits as Novo Nordisk’s NOVOb.CO popular Wegovy as they belong to the same class of medicines.
The views of the five doctors, all senior physicians practicing obesity medicine at top universities and hospitals, indicate that Novo's drug is not likely to have a significant edge based on its heart benefits, even though it will be years before Lilly produces similar cardiovascular data. Both medicines are GLP-1 agonists, a class originally designed to treat type 2 diabetes.
In Novo's pivotal Wegovy trial involving 17,604 overweight and obese people without diabetes, the drug reduced incidence of heart attack, stroke or heart-related death by an impressive 20%.
The Danish drugmaker said study participants’ heart health improved almost immediately, indicating the drug’s impact was not just from weight loss.
"I would anticipate that the cardioprotection with Wegovy would extend to Zepbound," said Dr. Edmond Wickham, an endocrinologist and associate professor at Virginia Commonwealth University.
The U.S. Food and Drug Administration on Nov. 8 approved Zepbound for weight loss. The product, which has the same active ingredient - tirzepatide - as its previously approved diabetes drug Mounjaro, is expected to start shipping it before the end of the year.
Wall Street analysts expect Lilly to reap in about $2 billion in sales from Zepbound in 2024. Barclays analyst Emily Field forecast $7.3 billion in 20224 sales for Wegovy.
Six doctors Reuters spoke with said they are more likely to prescribe Zepbound when it becomes available over Wegovy.
But revenue and which drug doctors prescribe in the short term may come down to available supplies, which are expected to be outpaced by skyrocketing demand for both Wegovy and Zepbound.
Analysts have said the weight-loss drug market could be worth $100 billion by the end of the decade.
The specialist doctors said they would prefer to prescribe Zepbound because it helped patients lose an average of 20% of their weight in its late-stage trial compared to 15% for Wegovy.
They said they would readily prescribe Wegovy (semaglutide) if their patients' insurance did not cover Lilly’s drug, or if future trial results do not produce similar heart benefits.
HEAD-TO-HEAD TRIALS
Lilly is enrolling for a cardiovascular outcomes trial to examine tirzepatide's impact on heart health in patients without type 2 diabetes with data expected in 2027, and completed enrollment for a similar trial in patients with type 2 diabetes, with data expected in 2024.
"We anticipate that both studies will help us learn about the impact of tirzepatide on cardiovascular-related and other outcomes relevant to these patient populations," Lilly said in an emailed statement.
The U.S. drugmaker is also running a head-to-head trial pitting Zepbound against Wegovy in overweight or obese patients with other weight-related health issues. That data is expected in 2025.
Lilly declined to comment on doctors' views that Zepbound might have the same or similar cardiovascular benefits as Wegovy.
Tirzepatide was also shown to be better at lowering blood sugar in adults with type 2 diabetes compared to semaglutide, the active ingredient in Wegovy, in a head-to-head study from 2021, one doctor noted.
“All things being equal, then you potentially give Zepbound because there is a greater degree of weight loss and a greater reduction in the blood sugars,” said Dr. Rohit Kedia, an endocrinologist at the large West coast-based healthcare system Providence.
Extended periods of high blood sugar can damage blood vessels and the nerves that control a person’s heart.
A study published on medRxiv in advance of peer review this week found overweight or obese adults lost more weight and shed pounds faster using Lilly's Mounjaro than those taking semaglutide, which is also the active ingredient in Ozempic.
Novo said it could not speculate on competitors and that its trial specifically investigated the effect of semaglutide and not other GLP-1s.
Dr. Chad Weldy, a cardiologist at Stanford University, said semaglutide showed the strongest evidence of preventing cardiovascular events like heart attack and stroke. He said he expected tirzepatide to show a similar benefit. For now, he prefers Wegovy, he said.
“If I prescribed semaglutide but insurers pushed back and wanted me to start tirzepatide, I would not have any problems with that,” he added.
Weldy pointed to a similar scenario with a different class of diabetes drugs, the SGLT-2 inhibitors.
AstraZeneca’s AZN.N Farxiga was first shown to lower the risk of heart failure, but eventually Boehringer Ingelheim and Lilly’s Jardiance demonstrated a nearly identical benefit.
Jardiance sales rose nearly $2 billion the year after the heart benefits were added to its label.
(Reporting by Patrick Wingrove; Editing by Caroline Humer and Bill Berkrot)
((Patrick.Wingrove@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 Patrick Wingrove Dec 1 (Reuters) - Some leading U.S. obesity specialists say they expect Eli Lilly’s LLY.N powerful weight-loss drug Zepbound will produce the same or similar heart benefits as Novo Nordisk’s NOVOb.CO popular Wegovy as they belong to the same class of medicines. The views of the five doctors, all senior physicians practicing obesity medicine at top universities and hospitals, indicate that Novo's drug is not likely to have a significant edge based on its heart benefits, even though it will be years before Lilly produces similar cardiovascular data. A study published on medRxiv in advance of peer review this week found overweight or obese adults lost more weight and shed pounds faster using Lilly's Mounjaro than those taking semaglutide, which is also the active ingredient in Ozempic.
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By Patrick Wingrove Dec 1 (Reuters) - Some leading U.S. obesity specialists say they expect Eli Lilly’s LLY.N powerful weight-loss drug Zepbound will produce the same or similar heart benefits as Novo Nordisk’s NOVOb.CO popular Wegovy as they belong to the same class of medicines. Lilly is enrolling for a cardiovascular outcomes trial to examine tirzepatide's impact on heart health in patients without type 2 diabetes with data expected in 2027, and completed enrollment for a similar trial in patients with type 2 diabetes, with data expected in 2024. Tirzepatide was also shown to be better at lowering blood sugar in adults with type 2 diabetes compared to semaglutide, the active ingredient in Wegovy, in a head-to-head study from 2021, one doctor noted.
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By Patrick Wingrove Dec 1 (Reuters) - Some leading U.S. obesity specialists say they expect Eli Lilly’s LLY.N powerful weight-loss drug Zepbound will produce the same or similar heart benefits as Novo Nordisk’s NOVOb.CO popular Wegovy as they belong to the same class of medicines. They said they would readily prescribe Wegovy (semaglutide) if their patients' insurance did not cover Lilly’s drug, or if future trial results do not produce similar heart benefits. Lilly is enrolling for a cardiovascular outcomes trial to examine tirzepatide's impact on heart health in patients without type 2 diabetes with data expected in 2027, and completed enrollment for a similar trial in patients with type 2 diabetes, with data expected in 2024.
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The specialist doctors said they would prefer to prescribe Zepbound because it helped patients lose an average of 20% of their weight in its late-stage trial compared to 15% for Wegovy. Lilly is enrolling for a cardiovascular outcomes trial to examine tirzepatide's impact on heart health in patients without type 2 diabetes with data expected in 2027, and completed enrollment for a similar trial in patients with type 2 diabetes, with data expected in 2024. Tirzepatide was also shown to be better at lowering blood sugar in adults with type 2 diabetes compared to semaglutide, the active ingredient in Wegovy, in a head-to-head study from 2021, one doctor noted.
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715047.0
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2023-12-01 00:00:00 UTC
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VettaFi Voices On: The 2023 Holiday Retail Season
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DCOMP
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https://www.nasdaq.com/articles/vettafi-voices-on%3A-the-2023-holiday-retail-season
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nan
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nan
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Good morning, VettaFi Voices! Last Friday, the holiday shopping season kicked off in earnest (while I hunkered down in my house eating turkey sandwiches and waited for the initial frenzy to pass). I know the initial flurry of online retail activity was pretty strong. What do you think we can expect this year and what will it tell us about the health of the American consumer? Is there a way for ETF investors to benefit from any trends for the rest of the year?
Todd Rosenbluth, VettaFi Head of Research: I'm going to defer to Roxanna Islam and Jane Edmondson, who have both covered consumer and online trends in recent days/weeks with great content.
I know in the Rosenbluth household we got our Chanukah shopping done online. After my alma mater, the University of Michigan's football team beat Ohio State. Had to get it in and it pays to show up early at the water cooler. But Americans have been shopping for ETFs in general. In the past month, we have seen approximately $100 billion of new money with S&P 500-based SPY, VOO, and IVV leading the way. Followed not far behind by high-yield ETFs HYG and JNK. November is not just the beginning of the holiday shopping season. It's also when we see tax loss harvesting from mutual funds.
Heather Bell, VettaFi managing editor: Yes, I've got seven kids (cousin's children, not mine!) to buy for every year for Christmas who live about 2,000 miles away. As much as I like supporting small businesses, I get almost everything over Amazon because of how much shipping costs otherwise. But I can't order anything now or it will get there WAY too early! There's an art to online shopping ...
Amazon’s Weight Can Vary
Rosenbluth: I expect my colleagues to dive into this soon, but why wait? Amazon.com (AMZN) is a major holding of the ProShares Online Retail ETF (ONLN) — about 23% of assets. While it and all the other stocks in the Amplify Online Retail ETF (IBUY) are less than 4%. While Amazon is a key player in this theme it is not the only online company benefitting from the secular trend.
Jen Nash, VettaFi economic and market research analyst: In October, retail sales pulled back for the first time in 7 months. I think we will see a bounce back in sales from holiday shopping, but it may be tempered. Consumers have been facing a lot of economic headwinds like inflation, high interest rates, student loan repayments, dwindling savings, and slower job and wage growth — and yet they’ve continued to spend.
Some of these obstacles took a little longer for the consumer to actually feel in their wallet. This could be a partial explanation for the disconnect seen between strong consumer spending and weak consumer confidence. However, I believe consumers are starting to feel the impact more and more which has led to a lot of deal-searching and discount shopping for the holidays.
Roxanna Islam, VettaFi head of sector and industry research: Yes, online retail/e-commerce is much more complex than Amazon. However, Amazon does it all. They sell their own products, serve as a marketplace for other sellers, and have their own supply chain. I think Amazon's package volume is actually bigger than both UPS and FedEx now. They're also more than 10% of UPS's package volume. Here is part 1 and 2 of my research notes on the retail sector which covers both online shopping and consumer staples.
Online Retail Taking Market Share From Traditional Retail
I also don't think a strong Black Friday/Prime Day means much for overall retail sales when you look at it every quarter because a lot of that is spending pulled forward to take advantage of the deals. So strong Black Friday sales may not translate to a strong 4Q since consumers are likely doing holiday shopping early.
However, the growth in e-commerce/online shopping can be considered a separate trend. Online retail sales have always outplaced total retail sales except for a few quarters post-pandemic when it was lapping extremely high year-over-year growth. Even now when we see some uncertainty in total retail sales, e-commerce continues to take market share.
Most of that is driven by non-store retailers or discretionary segments like clothing and general merchandise (in contrast to staples like food and healthcare). And that's not just from online retailers like Amazon. It’s also from traditional retailers who are becoming more tech-savvy and integrating e-commerce alongside their brick-and-mortar operations in addition to utilizing omnichannel strategies like BOPIS (buy online pick up in-store).
Rosenbluth: I want to shout out broad consumer discretionary ETFs like the Consumer Discretionary Select Sector SPDR Fund (XLY) and the Vanguard Consumer Discretionary ETF (VCR). They are different than the Consumer Staples Select Sector SPDR Fund (XLP) and Vanguard Consumer Staples ETF (VDC). Amazon is part of consumer discretionary, while Walmart is a consumer staple stock.
Online Retail Crosses Sectors
Islam: Walmart is a very large retailer, though. Even though they lean toward staples, they are about 15% e-commerce now which is about in line with the national average. The stock is found in many online shopping ETFs as well.
Many online shopping ETFs have both consumer discretionary and staples, as well as tech holdings and industrial. Transportation is an important part of the online retail chain.
Transportation companies benefit from the higher volume to the extent that they can handle the capacity. And that's across all freight modes including passenger airlines which carry a lot of belly cargo.
Rosenbluth: I ticker dropped IBUY and ONLN earlier but there's also the Global X E-commerce ETF (EBIZ). 70% of its assets are in consumer discretionary, but there's 7% in industrials, as you noted.
Islam: There are also ETFs like the First Trust S-Network E-Commerce ETF (ISHP) — that one is about 40% communications, 27% discretionary, 15% tech, and 9% industrials. Online retail is really a multi-sector concept.
Rosenbluth: Good point! Many thematic ETFs are cross-sector.
Jane Edmondson, VettaFi head of thematic strategy: The other interesting thing we are seeing among online shoppers is increasing use of buy now/pay later, or “BNPL.” Adobe reported a 17% increase in the use of BNPL this holiday season over last year. And there was $940 million in BNPL on Cyber Monday alone!
What does this mean for the consumer? Is it a bad thing? I think it is actually more about swapping high-rate credit cards for the more favorable terms of BNPL. That’s just another attraction of shopping online — payment flexibility.
Travel Having a Strong Year
Rosenbluth: I’m jumping back in before this gets too smart for me about shopping — I'd rather sit on my couch and watch TV than shop! The SPDR S&P Retail ETF (XRT) was long the go-to ETF for people thinking about retail. And it has close to $500 million in assets. But this year XRT is up just 8% vs. 25% for IBUY.
Edmondson: The clicks are definitely beating the bricks among holiday shoppers! But the thing we are seeing in retail and across other sectors is the resumption of trends that were in place before the pandemic.
We are also seeing strong travel spend among consumers. I was on a flight yesterday for business, but it was packed to the gills with returning holiday passengers. Consumers are traveling, eating out, and generally seem to be enjoying life, despite higher costs.
While the U.S. Global Jets ETF (JETS) is not having a great year from a performance standpoint, the Defiance Hotel, Airline, and Cruise ETF (CRUZ), which is a broader-based play on the travel theme is having a solid year, up 20%.
It is interesting also that some Chinese online players are becoming popular in the U.S. Pinduoduo's Temu has really shaken things up. That company is now a formidable competitor to Alibaba. And another popular Chinese fast-fashion retailer, Shein, is about to IPO in the U.S. They are playing to cost-conscious consumers' desires for a bargain.
Rosenbluth: I was just looking at the Goldman Sachs Future Consumer Equity ETF (GBUY), an active ETF. It has about 60% in North American stocks but lots of international ones like LVMH and Mercado Libre.
Luxury Goods Vs. Cost-Conscious Shopping
Edmondson: It’s also interesting in this age of cost-conscious consumers we have seen the launch of several luxury-focused ETFs. The Tema Luxury ETF (LUX), Roundhill S&P Global Luxury ETF (LUXX), and KraneShares Global Luxury ETF (KLXY). So which consumer economy are we in? Fast fashion using BNPL or luxury goods?
Rosenbluth: I'm not sure I'm proactively living in either, Jane. But at Exchange I will be rotating between solid blue and solid white dress shirts with no tie.
Jen, I think I saw gas prices have been falling. That should have been good for spending and maybe sets up for more old-school holiday road trips.
Nash: Yes, gas prices have now fallen for 10 straight weeks to nearly their lowest level of the year. This is one of the areas where consumers are most attuned to prices, so I anticipate some of the future consumer sentiment surveys to start reflecting more positive attitudes about inflation.
With that said, the latest Michigan consumer sentiment survey did report that consumers have noticed a slowdown in prices across the board but that they remain cautious and worried that this could reverse soon. Todd, are there any gasoline/oil ETFs that this could impact?
Rosenbluth: There are no gas price ETFs, but there is the United States Oil Fund (USO) that is tied to the price of oil.
Islam: There’s also the United States Gasoline Fund (UGA).
Rosenbluth: I’m happy to be wrong, Roxanna!
EVs Losing Sales to Hybrids, Conventional Vehicles
Edmondson: The Tesla Cybertruck is about to debut, Todd. Maybe you can take your road trip in that?
There is a really interesting trend going on right now with EV sales. Hybrid vehicles (both gas- and EV-powered) have surpassed EV sales for the first time. Range anxiety is an issue of course on those long car trips, worrying about how and where to charge.
But the other thing we are seeing is that EVs still are much more expensive than their gas-powered and hybrid vehicle peers. I am sure that high interest rates are exacerbating this as well, making high-cost EVs even more expensive. I’m not sure of the price point for that Cybertruck. $70k?
Rosenbluth: I'm not buying a car for the holidays, no matter how happy the people on TV seem to be when one magically arrives in the driveway. I also live in an apartment building.
Playing the EV Space
Edmondson: There are a few ETF plays on EVs including the Amplify Lithium and Battery Technology ETF (BATT) which has exposure to the EV supply chain; the Kraneshares Electric Vehicle & Future of Mobility ETF (KARS) and the First Trust S-Network Future Vehicles and Technology ETF (CARZ).
Not to mention all the ways to play Tesla from single-stock ETFS to levered and inverse versions and even high-yield income versions! Innovator even has the Innovator Hedged Tesla Strategy (TSLH).
Sounds like there is no Tesla Cybertruck with a giant holiday bow for you, Todd.
Rosenbluth: That would surprise me in many ways.
Bell: But if gas prices are way down, will that hurt EV sales?
Edmondson: I think the longer-term trend remains toward EV adoption. But we need more EV charging infrastructure and prices to come down. Oil prices can fluctuate, but oil companies are not going away overnight. And energy companies are a great cash flow story. Many pay nice dividends, are buying back shares and there has been recent M&A activity.
For more news, information, and analysis, visit the Climate Insights Channel.
vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for ISHP, CARZ, and IBUY, for which it receives an index licensing fee. However, ISHP, CARZ, and IBUY are issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of IISHP, CARZ, and IBUY.
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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Todd Rosenbluth, VettaFi Head of Research: I'm going to defer to Roxanna Islam and Jane Edmondson, who have both covered consumer and online trends in recent days/weeks with great content. Consumers have been facing a lot of economic headwinds like inflation, high interest rates, student loan repayments, dwindling savings, and slower job and wage growth — and yet they’ve continued to spend. It’s also from traditional retailers who are becoming more tech-savvy and integrating e-commerce alongside their brick-and-mortar operations in addition to utilizing omnichannel strategies like BOPIS (buy online pick up in-store).
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Jen Nash, VettaFi economic and market research analyst: In October, retail sales pulled back for the first time in 7 months. Rosenbluth: I want to shout out broad consumer discretionary ETFs like the Consumer Discretionary Select Sector SPDR Fund (XLY) and the Vanguard Consumer Discretionary ETF (VCR). They are different than the Consumer Staples Select Sector SPDR Fund (XLP) and Vanguard Consumer Staples ETF (VDC).
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Online Retail Taking Market Share From Traditional Retail I also don't think a strong Black Friday/Prime Day means much for overall retail sales when you look at it every quarter because a lot of that is spending pulled forward to take advantage of the deals. Rosenbluth: I want to shout out broad consumer discretionary ETFs like the Consumer Discretionary Select Sector SPDR Fund (XLY) and the Vanguard Consumer Discretionary ETF (VCR). Playing the EV Space Edmondson: There are a few ETF plays on EVs including the Amplify Lithium and Battery Technology ETF (BATT) which has exposure to the EV supply chain; the Kraneshares Electric Vehicle & Future of Mobility ETF (KARS) and the First Trust S-Network Future Vehicles and Technology ETF (CARZ).
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And that's not just from online retailers like Amazon. What does this mean for the consumer? There is a really interesting trend going on right now with EV sales.
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29a60239-ff9f-4076-80cc-4f2907af57d3
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715048.0
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2023-12-01 00:00:00 UTC
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3 Top Growth Stocks to Buy for December 2023
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DCOMP
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https://www.nasdaq.com/articles/3-top-growth-stocks-to-buy-for-december-2023
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nan
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Fed Chair Jerome Powell might not be ready to give the market what it wants in terms of rate cut rhetoric, but investors are nevertheless betting on a more favorable interest rate environment next year - and that should be good news for some of Wall Street's favorite growth stocks as we head into 2024.
Simply put, growth stocks are like the go-getters of the stock market - they're companies expected to ramp up their sales and earnings faster than the usual market pace. Investors who buy into these names are hoping for outsized capital appreciation in the long run, as these companies typically don't pay out dividends - and in fact, they often rely on debt to help fund their growth, at least in the early years.
Despite the turbulence from inflation and interest rate hikes, 2023 has been a prosperous year for many growth stocks, thanks to high hopes for artificial intelligence (AI)-fueled growth across multiple industries. Heading into the seasonally bullish time of year known as the "Santa Claus Rally," and with a more favorable macro environment on the horizon, now's a great time to pick up some top-rated growth stocks for more upside - like the three we've highlighted here.
ALKS: A Biopharmaceutical Leader That's Reasonably Priced
Alkermes Plc (ALKS) is a biopharmaceutical company diving into treatments for major central nervous system disorders. Along with proprietary products like VIVITROL, ARISTADA, and LYBALVI, they've got candidates in the pipeline like ALKS 2680 for narcolepsy, ALKS 4230 for cancer treatment, and ALKS 3831 for schizophrenia and bipolar disorder. The biopharma firm currently has a market cap of just over $4 billion.
It's been a volatile year for ALKS in 2023, as the shares are down 6.7% to lag the broader equities market. However, one analyst called the stock's recent sell-off on negative trial data an “overreaction,” and ALKS is now attractively valued relative to many of its peers - creating a potential buying opportunity.
www.barchart.com
The Q3 2023 results from ALKS blew away analyst expectations, with a net income arriving at $47.8 million - which shakes out to $0.64 per share. That's a massive jump from a loss of $158.3 million in the same period last year. They pulled in a whopping 51% more revenue at $380.9 million. Both earnings and revenue for the period comfortably topped consensus estimates.
Looking ahead, Wall Street expects another 46% EPS growth in the next fiscal year.
www.barchart.com
Analysts are upbeat, with the majority calling ALKS a “moderate buy” based on 11 recommendations. Five rate it a “strong buy,” while six suggest a “hold." The average 12-month target price is $33.33, signaling a potential 37% upside from the current price.
www.barchart.com
FROG: A Software Powerhouse with a Sticky Customer Base
Sunnyvale-based Jfrog Ltd (FROG) is a software specialist, providing a one-stop-shop platform to handle software binaries throughout their journey in development. Their platform speeds up software app delivery while ensuring top-notch quality, security, and compliance. They're like the Swiss Army knife for developers, ops teams, and security buffs, supporting over 30 programming languages and linking up with more than 300 tools and services like GitHub, AWS, Azure, Docker, and Kubernetes.
The market cap stands at $2.74 billion, with an enterprise value of $2.70 billion.
FROG has outperformed on the charts in 2023, up around 29% - including a massive bull gap in early November, sparked by the company's most recent earnings results.
www.barchart.com
In the third quarter of 2023, FROG knocked it out of the park financially, topping analyst predictions. Adjusted EPS of $0.15 nearly doubled analysts' expectations, and revenue jumped 35% to a stronger-than-forecast $88.6 million, thanks to stronger subscription revenue and an expanding customer base.
Analysts seem pretty upbeat about FROG, with the consensus leaning towards a “moderate buy” based on recommendations from 14 analysts. Nine advocate a “strong buy,” one suggests a “moderate buy,” and four recommend “hold.”
The average price target is $32.83, suggesting a potential 18.8% upside from the current price.
www.barchart.com
FOUR: A Payment Innovator with Strong Growth Momentum
Shift4 Payments Inc (FOUR) simplifies payments for businesses, offering a slick fintech platform that handles payments, business management, and revenue optimization. They cover it all, from cards to digital wallets, online banking, and QR codes. Their reach extends to over 200,000 merchants in the hospitality, retail, e-commerce, and gaming industries.
FOUR's had a strong run in 2023, scoring about an 18% gain so far this year to keep pace with the broader market. The stock swung between a high of $76.40 and a low of $42.79 before settling at $63.64.
www.barchart.com
In Q3 2023, FOUR showed off some serious financial muscle, beating analysts' bottom-line predictions - even as revenue missed the mark. Net income jumped to $0.82 per share, on an adjusted basis, compared to estimates of $0.70. Revenue spiked by 51% to $675.4 million, powered by a surge in payment volume and merchant numbers, but Wall Street was looking for $701 million.
Looking ahead, FOUR raised its full-year EBITDA forecast to a range between $456 million and $464 million, up from the prior guidance of $435 million to 460 million.
www.barchart.com
Analysts seem pretty hyped about FOUR, giving it a “strong buy” consensus based on recommendations from 18 analysts. Fifteen call it a “strong buy,” two suggest a “moderate buy,” and one leans toward “hold.” The average target price is $76.42, signaling a potential 14.5% upside from the current price.
www.barchart.com
On the date of publication, Ebube Jones did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors who buy into these names are hoping for outsized capital appreciation in the long run, as these companies typically don't pay out dividends - and in fact, they often rely on debt to help fund their growth, at least in the early years. However, one analyst called the stock's recent sell-off on negative trial data an “overreaction,” and ALKS is now attractively valued relative to many of its peers - creating a potential buying opportunity. They're like the Swiss Army knife for developers, ops teams, and security buffs, supporting over 30 programming languages and linking up with more than 300 tools and services like GitHub, AWS, Azure, Docker, and Kubernetes.
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Analysts seem pretty upbeat about FROG, with the consensus leaning towards a “moderate buy” based on recommendations from 14 analysts. Nine advocate a “strong buy,” one suggests a “moderate buy,” and four recommend “hold.” The average price target is $32.83, suggesting a potential 18.8% upside from the current price. Fifteen call it a “strong buy,” two suggest a “moderate buy,” and one leans toward “hold.” The average target price is $76.42, signaling a potential 14.5% upside from the current price.
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Fed Chair Jerome Powell might not be ready to give the market what it wants in terms of rate cut rhetoric, but investors are nevertheless betting on a more favorable interest rate environment next year - and that should be good news for some of Wall Street's favorite growth stocks as we head into 2024. Nine advocate a “strong buy,” one suggests a “moderate buy,” and four recommend “hold.” The average price target is $32.83, suggesting a potential 18.8% upside from the current price. Fifteen call it a “strong buy,” two suggest a “moderate buy,” and one leans toward “hold.” The average target price is $76.42, signaling a potential 14.5% upside from the current price.
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That's a massive jump from a loss of $158.3 million in the same period last year. www.barchart.com Analysts are upbeat, with the majority calling ALKS a “moderate buy” based on 11 recommendations. Adjusted EPS of $0.15 nearly doubled analysts' expectations, and revenue jumped 35% to a stronger-than-forecast $88.6 million, thanks to stronger subscription revenue and an expanding customer base.
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96b902d3-a6ca-44c3-90e6-ed4514943c77
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715049.0
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2023-12-01 00:00:00 UTC
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Notable Friday Option Activity: PARA, CME, MA
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DCOMP
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https://www.nasdaq.com/articles/notable-friday-option-activity%3A-para-cme-ma
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Paramount Global (Symbol: PARA), where a total volume of 77,112 contracts has been traded thus far today, a contract volume which is representative of approximately 7.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 51.4% of PARA's average daily trading volume over the past month, of 15.0 million shares. Particularly high volume was seen for the $15 strike put option expiring December 08, 2023, with 11,393 contracts trading so far today, representing approximately 1.1 million underlying shares of PARA. Below is a chart showing PARA's trailing twelve month trading history, with the $15 strike highlighted in orange:
CME Group (Symbol: CME) options are showing a volume of 7,585 contracts thus far today. That number of contracts represents approximately 758,500 underlying shares, working out to a sizeable 49.7% of CME's average daily trading volume over the past month, of 1.5 million shares. Especially high volume was seen for the $210 strike call option expiring January 19, 2024, with 2,700 contracts trading so far today, representing approximately 270,000 underlying shares of CME. Below is a chart showing CME's trailing twelve month trading history, with the $210 strike highlighted in orange:
And Mastercard Inc (Symbol: MA) options are showing a volume of 10,819 contracts thus far today. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 44.2% of MA's average daily trading volume over the past month, of 2.4 million shares. Particularly high volume was seen for the $417.50 strike call option expiring December 01, 2023, with 986 contracts trading so far today, representing approximately 98,600 underlying shares of MA. Below is a chart showing MA's trailing twelve month trading history, with the $417.50 strike highlighted in orange:
For the various different available expirations for PARA options, CME options, or MA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Preferred Stocks By Industry
EPC Dividend History
FFBW shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $15 strike put option expiring December 08, 2023, with 11,393 contracts trading so far today, representing approximately 1.1 million underlying shares of PARA. Especially high volume was seen for the $210 strike call option expiring January 19, 2024, with 2,700 contracts trading so far today, representing approximately 270,000 underlying shares of CME. Particularly high volume was seen for the $417.50 strike call option expiring December 01, 2023, with 986 contracts trading so far today, representing approximately 98,600 underlying shares of MA.
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Below is a chart showing PARA's trailing twelve month trading history, with the $15 strike highlighted in orange: CME Group (Symbol: CME) options are showing a volume of 7,585 contracts thus far today. That number of contracts represents approximately 758,500 underlying shares, working out to a sizeable 49.7% of CME's average daily trading volume over the past month, of 1.5 million shares. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 44.2% of MA's average daily trading volume over the past month, of 2.4 million shares.
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Paramount Global (Symbol: PARA), where a total volume of 77,112 contracts has been traded thus far today, a contract volume which is representative of approximately 7.7 million underlying shares (given that every 1 contract represents 100 underlying shares). Particularly high volume was seen for the $15 strike put option expiring December 08, 2023, with 11,393 contracts trading so far today, representing approximately 1.1 million underlying shares of PARA. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 44.2% of MA's average daily trading volume over the past month, of 2.4 million shares.
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Particularly high volume was seen for the $15 strike put option expiring December 08, 2023, with 11,393 contracts trading so far today, representing approximately 1.1 million underlying shares of PARA. Particularly high volume was seen for the $417.50 strike call option expiring December 01, 2023, with 986 contracts trading so far today, representing approximately 98,600 underlying shares of MA. Below is a chart showing MA's trailing twelve month trading history, with the $417.50 strike highlighted in orange: For the various different available expirations for PARA options, CME options, or MA options, visit StockOptionsChannel.com.
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8ccb9df3-bd97-4417-acb1-1d66c1102131
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715050.0
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2023-12-01 00:00:00 UTC
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Noteworthy Friday Option Activity: PFE, FCX, CHTR
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https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-pfe-fcx-chtr
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Pfizer Inc (Symbol: PFE), where a total of 289,489 contracts have traded so far, representing approximately 28.9 million underlying shares. That amounts to about 99.2% of PFE's average daily trading volume over the past month of 29.2 million shares. Especially high volume was seen for the $27 strike put option expiring January 19, 2024, with 37,958 contracts trading so far today, representing approximately 3.8 million underlying shares of PFE. Below is a chart showing PFE's trailing twelve month trading history, with the $27 strike highlighted in orange:
Freeport-McMoran Copper & Gold (Symbol: FCX) saw options trading volume of 84,441 contracts, representing approximately 8.4 million underlying shares or approximately 85.2% of FCX's average daily trading volume over the past month, of 9.9 million shares. Particularly high volume was seen for the $41 strike call option expiring February 16, 2024, with 5,037 contracts trading so far today, representing approximately 503,700 underlying shares of FCX. Below is a chart showing FCX's trailing twelve month trading history, with the $41 strike highlighted in orange:
And Charter Communications Inc (Symbol: CHTR) options are showing a volume of 4,327 contracts thus far today. That number of contracts represents approximately 432,700 underlying shares, working out to a sizeable 51.5% of CHTR's average daily trading volume over the past month, of 839,940 shares. Especially high volume was seen for the $390 strike put option expiring December 08, 2023, with 1,042 contracts trading so far today, representing approximately 104,200 underlying shares of CHTR. Below is a chart showing CHTR's trailing twelve month trading history, with the $390 strike highlighted in orange:
For the various different available expirations for PFE options, FCX options, or CHTR options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Walt Disney YTD Return
NETE Split History
SDRL Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $27 strike put option expiring January 19, 2024, with 37,958 contracts trading so far today, representing approximately 3.8 million underlying shares of PFE. Particularly high volume was seen for the $41 strike call option expiring February 16, 2024, with 5,037 contracts trading so far today, representing approximately 503,700 underlying shares of FCX. Especially high volume was seen for the $390 strike put option expiring December 08, 2023, with 1,042 contracts trading so far today, representing approximately 104,200 underlying shares of CHTR.
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Especially high volume was seen for the $27 strike put option expiring January 19, 2024, with 37,958 contracts trading so far today, representing approximately 3.8 million underlying shares of PFE. Below is a chart showing PFE's trailing twelve month trading history, with the $27 strike highlighted in orange: Freeport-McMoran Copper & Gold (Symbol: FCX) saw options trading volume of 84,441 contracts, representing approximately 8.4 million underlying shares or approximately 85.2% of FCX's average daily trading volume over the past month, of 9.9 million shares. Below is a chart showing FCX's trailing twelve month trading history, with the $41 strike highlighted in orange: And Charter Communications Inc (Symbol: CHTR) options are showing a volume of 4,327 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 Pfizer Inc (Symbol: PFE), where a total of 289,489 contracts have traded so far, representing approximately 28.9 million underlying shares. Especially high volume was seen for the $27 strike put option expiring January 19, 2024, with 37,958 contracts trading so far today, representing approximately 3.8 million underlying shares of PFE. Below is a chart showing PFE's trailing twelve month trading history, with the $27 strike highlighted in orange: Freeport-McMoran Copper & Gold (Symbol: FCX) saw options trading volume of 84,441 contracts, representing approximately 8.4 million underlying shares or approximately 85.2% of FCX's average daily trading volume over the past month, of 9.9 million shares.
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Especially high volume was seen for the $27 strike put option expiring January 19, 2024, with 37,958 contracts trading so far today, representing approximately 3.8 million underlying shares of PFE. Below is a chart showing PFE's trailing twelve month trading history, with the $27 strike highlighted in orange: Freeport-McMoran Copper & Gold (Symbol: FCX) saw options trading volume of 84,441 contracts, representing approximately 8.4 million underlying shares or approximately 85.2% of FCX's average daily trading volume over the past month, of 9.9 million shares. Below is a chart showing CHTR's trailing twelve month trading history, with the $390 strike highlighted in orange: For the various different available expirations for PFE options, FCX options, or CHTR options, visit StockOptionsChannel.com.
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715051.0
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2023-12-01 00:00:00 UTC
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Why QuantumScape Shares Popped Friday
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DCOMP
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https://www.nasdaq.com/articles/why-quantumscape-shares-popped-friday
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nan
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The stock market is starting December on a bullish note, and so is the stock of electric vehicle (EV) battery maker QuantumScape (NYSE: QS). Today's jump of 6.2% as of 2:50 p.m. ET tops off a big week for QuantumScape shares.
Yet those gains are coming after an avalanche of stock sales by QuantumScape officers.
Insiders have been selling
QuantumScape reported its third-quarter results on Oct. 25. When the window for insiders reopened after that announcement, there has been a flood of selling by QuantumScape officers between Nov. 8 and Nov. 29.
Sales have come from a full slate of QuantumScape officers. They include:
Co-founder and CEO Jagdeep Singh
President Siva Sivaram
Co-founder and chief technology officer Tim Holme
Chief development officer Mohit Singh
Chief financial officer Kevin Hettrich
Chief legal officer Michael McCarthy
Insider sales aren't always a signal
However, smart investors know there can be many reasons why company insiders sell shares. QuantumScape shares have dropped more than 50% since the start of August. The slate of insider sales could be happening for personal tax reasons or portfolio positioning.
Singh sold nearly 200,000 shares of his stock worth more than $1 million, and McCarthy sold about $500,000 worth of QuantumScape stock. But digging deeper into each of the Securities and Exchange Commission (SEC) filings for those sales shows they were all done with vested restricted stock awards.
Taxes on that type of compensation are triggered once that equity has vested. So it's possible, and perhaps likely, that the officers have sold shares to help cover taxes that will be owed for the current tax year.
That reality should give any panicky investors cause for relief. That likely is helping the stock regain momentum after it drifted lower throughout much of November.
10 stocks we like better than QuantumScape
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and QuantumScape wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 29, 2023
Howard Smith has positions in QuantumScape. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The slate of insider sales could be happening for personal tax reasons or portfolio positioning. But digging deeper into each of the Securities and Exchange Commission (SEC) filings for those sales shows they were all done with vested restricted stock awards. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Yet those gains are coming after an avalanche of stock sales by QuantumScape officers. They include: Co-founder and CEO Jagdeep Singh President Siva Sivaram Co-founder and chief technology officer Tim Holme Chief development officer Mohit Singh Chief financial officer Kevin Hettrich Chief legal officer Michael McCarthy Insider sales aren't always a signal However, smart investors know there can be many reasons why company insiders sell shares. Singh sold nearly 200,000 shares of his stock worth more than $1 million, and McCarthy sold about $500,000 worth of QuantumScape stock.
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They include: Co-founder and CEO Jagdeep Singh President Siva Sivaram Co-founder and chief technology officer Tim Holme Chief development officer Mohit Singh Chief financial officer Kevin Hettrich Chief legal officer Michael McCarthy Insider sales aren't always a signal However, smart investors know there can be many reasons why company insiders sell shares. Singh sold nearly 200,000 shares of his stock worth more than $1 million, and McCarthy sold about $500,000 worth of QuantumScape stock. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Howard Smith has positions in QuantumScape.
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They include: Co-founder and CEO Jagdeep Singh President Siva Sivaram Co-founder and chief technology officer Tim Holme Chief development officer Mohit Singh Chief financial officer Kevin Hettrich Chief legal officer Michael McCarthy Insider sales aren't always a signal However, smart investors know there can be many reasons why company insiders sell shares. QuantumScape shares have dropped more than 50% since the start of August. * They just revealed what they believe are the ten best stocks for investors to buy right now... and QuantumScape wasn't one of them!
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cda2ac0f-c157-46f3-acad-f9b63731a82b
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715052.0
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2023-12-01 00:00:00 UTC
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Top Research Reports for Meta Platforms, JPMorgan Chase & Salesforce
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DCOMP
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https://www.nasdaq.com/articles/top-research-reports-for-meta-platforms-jpmorgan-chase-salesforce
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Friday, December 1, 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 Meta Platforms, Inc. (META), JPMorgan Chase & Co. (JPM) and Salesforce, Inc. (CRM). 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 >>>
Meta Platforms shares have outperformed the Zacks Internet - Software industry over the year-to-date period (+171.9% vs. +57.1%). The company is benefiting from steady user growth across all regions, particularly Asia Pacific. Increased engagement for its offerings like Instagram, WhatsApp, Messenger and Facebook has been a major growth driver.
Meta Platforms is leveraging AI to recommend Reels content, which is driving traffic on Instagram and Facebook. Its innovative portfolio, which includes Threads, Reels and Llama 2, is likely to aid prospects.
However, challenging macroeconomic conditions remain a headwind for Meta’s advertising revenues, along with targeting and measurement headwinds due to Apple’s iOS changes. Slow monetization of Reels, along with mounting operating losses at Reality Labs, are concerns.
(You can read the full research report on Meta Platforms here >>>)
Shares of JPMorgan Chase have outperformed the Zacks Banks - Major Regional industry over the year-to-date period (+19.9% vs. +4.1%). The company is witnessing high interest rates, buyouts, global expansion efforts and decent loan demand will aid net interest income (NII), though rising funding costs will weigh on it.
Despite visibility of some green shoots in the investment banking (IB) business, IB fees are less likely to improve soon. This, along with the volatile nature of the capital markets business and high mortgage rates, will likely hamper fee income growth. Aided by solid earnings strength and balance sheet, it will be able to sustain capital distributions.
(You can read the full research report on JPMorgan Chase here >>>)
Sares of Salesforce have outperformed the Zacks Computer - Software industry over the year-to-date period (+90.0% vs. +57.9%). The company is benefiting from a robust demand environment as customers are undergoing a major digital transformation. The company’s sustained focus on aligning products with customer needs is driving the top line.
Continued deal wins in the international market are another growth driver. The acquisition of Slack has positioned the company as a leader in enterprise team collaboration and improved its competitive standing versus Microsoft Teams. Salesforce’s strategy of continuously expanding generative AI offerings will help the company tap the growing opportunities in the space.
However, stiff competition and unfavorable currency fluctuations are concerns. Also, the challenging macroeconomic environment and geopolitical issues could hurt its growth prospects.
(You can read the full research report on Salesforce here >>>)
Other noteworthy reports we are featuring today include Medtronic plc (MDT), The PNC Financial Services Group, Inc. (PNC) and TC Energy Corporation (TRP).
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
User Growth, Instagram Strength Aids Meta Platforms (META)
Strategic Buyouts, Higher Rates, Loans Aid JPMorgan (JPM)
Digital Transformation and Acquisitions Aid Salesforce (CRM)
Featured Reports
Medtronic (MDT) Gains in Market Share, Global Growth Robust
The Zacks analyst is impressed that despite macro-economic issues, Medtronic is reporting market share gains across core businesses. Non-U.S. developed and emerging markets expansions remain strong.
Solid Balance Sheet Aids PNC Financial (PNC), High Costs Ail
Per the Zacks Analyst, a solid balance sheet position and strategic acquisitions support PNC Financial. However, a decline in NII, rising costs and commercial loan concentration are concerning.
TC Energy's (TRP) C$34B Growth Projects to Boost Earnings
The Zacks analyst believes that TC Energy's C$34 billion of growth projects should support its earnings and dividend payouts but is worried over the massive debt of C$52.7 billion.
Biogen's (BIIB) New Drugs Leqembi & Others Can Revive Growth
The Zacks analyst believes Biogen's new products like Leqembi for Alzheimer's disease, Skyclarys for Friedreich's ataxia and Zurzuvae for depression can help revive growth
End-Market Demand Aids United Rentals (URI), Volatility Hurt
Per the Zacks analyst, United Rentals benefits from strong demand in its end markets and strength in core rental business. However, volatile oil & natural gas prices and intense competition hurt.
Discover Financial (DFS) Aided by Rising Interest Income
Per the Zacks Analyst, growth in net interest income and non-interest income has contributed to Discover Financial's top line. Its robust capital position remains a key catalyst.
Pricing Actions Aid National Steel (SID) Amid Higher Costs
Per the Zacks Analyst, National Steel's results will benefit from its pricing actions and focus on investment. However, elevated raw material costs will continue to impact margins.
New Upgrades
Investments & Customer Additions Aid Southwest Gas (SWX)
Per the Zacks analyst, Southwest Gas' strategic investment plans will support system improvements and pipe replacement programs. Consistent customer additions will further boost its results.
American Eagle's (AEO) Aerie Brand Performs Outstandingly
Per the Zacks analyst, American Eagle's Aerie brand has been exhibiting strength for a while now. During third-quarter fiscal 2024, revenues advanced 12% year over year for the Aerie brand.
Xerox (XRX) is Gaining from Cost and Productivity Initiatives
Per the Zacks Analyst, Xerox's cost control and productivity improvement initiative called "Project Own It," is fetching results to the company in form of strong margins.
New Downgrades
Sluggish Smartphone Market Hurts Skyworks' (SWKS) Prospects
Per Zacks analyst, Skyworks is struggling due a weak smartphone market and stiff competition from the likes of Qorvo.
Forex Volatility, Stiff Competition Continues to Ail BD (BDX)
The Zacks analyst is worried about BD's operation in a tough competitive space and a volatile foreign exchange market.
Reduced Customer Demand & Stiff Competition Ail Sonos (SONO)
Per the Zacks analyst, Sonos' performance is affected due to reduced customer demand in Europe and the APAC region amid volatile macroeconomic conditions. Also, stiff competition is a major concern.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
Salesforce Inc. (CRM) : Free Stock Analysis Report
Medtronic PLC (MDT) : Free Stock Analysis Report
TC Energy Corporation (TRP) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This, along with the volatile nature of the capital markets business and high mortgage rates, will likely hamper fee income growth. Salesforce’s strategy of continuously expanding generative AI offerings will help the company tap the growing opportunities in the space. If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read User Growth, Instagram Strength Aids Meta Platforms (META) Strategic Buyouts, Higher Rates, Loans Aid JPMorgan (JPM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Medtronic (MDT) Gains in Market Share, Global Growth Robust The Zacks analyst is impressed that despite macro-economic issues, Medtronic is reporting market share gains across core 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 User Growth, Instagram Strength Aids Meta Platforms (META) Strategic Buyouts, Higher Rates, Loans Aid JPMorgan (JPM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Medtronic (MDT) Gains in Market Share, Global Growth Robust The Zacks analyst is impressed that despite macro-economic issues, Medtronic is reporting market share gains across core businesses. Solid Balance Sheet Aids PNC Financial (PNC), High Costs Ail Per the Zacks Analyst, a solid balance sheet position and strategic acquisitions support PNC Financial. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report Salesforce Inc. (CRM) : Free Stock Analysis Report Medtronic PLC (MDT) : Free Stock Analysis Report TC Energy Corporation (TRP) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read User Growth, Instagram Strength Aids Meta Platforms (META) Strategic Buyouts, Higher Rates, Loans Aid JPMorgan (JPM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Medtronic (MDT) Gains in Market Share, Global Growth Robust The Zacks analyst is impressed that despite macro-economic issues, Medtronic is reporting market share gains across core businesses. Biogen's (BIIB) New Drugs Leqembi & Others Can Revive Growth The Zacks analyst believes Biogen's new products like Leqembi for Alzheimer's disease, Skyclarys for Friedreich's ataxia and Zurzuvae for depression can help revive growth End-Market Demand Aids United Rentals (URI), Volatility Hurt Per the Zacks analyst, United Rentals benefits from strong demand in its end markets and strength in core rental business. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report Salesforce Inc. (CRM) : Free Stock Analysis Report Medtronic PLC (MDT) : Free Stock Analysis Report TC Energy Corporation (TRP) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Today's Research Daily features new research reports on 16 major stocks, including Meta Platforms, Inc. (META), JPMorgan Chase & Co. (JPM) and Salesforce, Inc. (CRM). This, along with the volatile nature of the capital markets business and high mortgage rates, will likely hamper fee income growth. Also, stiff competition is a major concern.
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2023-12-01 00:00:00 UTC
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Why Fisker Shares Soared Friday
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DCOMP
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https://www.nasdaq.com/articles/why-fisker-shares-soared-friday
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nan
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nan
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Fisker (NYSE: FSR) released a business update today, lowering the vehicle production guidance it had just provided less than three weeks ago. Yet the stock is soaring. As of 1:35 p.m. ET, shares of the electric vehicle (EV) maker were higher by 11%.
The stock is rising thanks to what the company said was the reason for the reduced production estimate. Shares are also rebounding after a 73% decline over the last three months.
Focusing on finances
That sharp decline came as Fisker struggled to ramp up production of its inaugural EV, the Ocean SUV. In its third-quarterearnings conference callfor investors, the EV start-up decreased 2023 production guidance from a range of 20,000 to 23,000 units down to between 13,000 and 17,000 vehicles. Now, nearly just three weeks later, the company says it plans to produce "just over" 10,000 vehicles for the full year.
But that comes even as Fisker has taken action to improve its delivery process and has achieved several days of record daily delivery volume as a result. Now the company said it plans to throttle back production "to prioritize liquidity to unlock over $300 million of working capital, which creates additional business flexibility."
Investors are cheering its revived focus on prioritizing its financial position.
Not a buy signal
That seems like a prudent strategy considering the current environment that includes a slowing growth rate for EV demand globally. Additionally, Fisker is hoping to add revenue beyond vehicle sales through agreements to sell emission credits to other automakers.
But the bigger picture is that the stock has crashed over the past several months because it is having difficulty growing the business in its first year of production. Whether the cause of that is the manufacturing and delivery process or a more general drop in EV demand doesn't really change the severity of the situation.
Today's announcement shows the company is focusing on its finances because it has to. Those who buy the stock should realize the risk level seems to have risen in recent months.
10 stocks we like better than Fisker
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 Fisker 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 November 29, 2023
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fisker (NYSE: FSR) released a business update today, lowering the vehicle production guidance it had just provided less than three weeks ago. Now the company said it plans to throttle back production "to prioritize liquidity to unlock over $300 million of working capital, which creates additional business flexibility." Not a buy signal That seems like a prudent strategy considering the current environment that includes a slowing growth rate for EV demand globally.
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Fisker (NYSE: FSR) released a business update today, lowering the vehicle production guidance it had just provided less than three weeks ago. 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 November 29, 2023 Howard Smith has no position in any of the stocks mentioned.
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10 stocks we like better than Fisker When our analyst team has a stock tip, it can pay to listen. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Fisker wasn't one of them! See the 10 stocks *Stock Advisor returns as of November 29, 2023 Howard Smith has no position in any of the stocks mentioned.
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Shares are also rebounding after a 73% decline over the last three months. That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Howard Smith has no position in any of the stocks mentioned.
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a05f12e0-d53c-4265-99d1-4de35735508b
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715054.0
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2023-12-01 00:00:00 UTC
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Why Alibaba, JD.com, and PDD Holdings Stocks All Dropped Today
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DCOMP
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https://www.nasdaq.com/articles/why-alibaba-jd.com-and-pdd-holdings-stocks-all-dropped-today
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nan
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nan
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Investment bank Morgan Stanley shook up the market for Chinese e-commerce stocks Thursday evening, downgrading Alibaba (NYSE: BABA) in a research report on the industry, cutting its price target on JD.com (NASDAQ: JD), but naming PDD Holdings (NASDAQ: PDD) its top pick in the sector. Despite the bank having different opinions on the three different stocks, however, investors seem to have read only the negatives in Morgan Stanley's note -- and are selling shares in all three companies.
As of 10:55 a.m. ET, Alibaba shares are down 2.9%, while both JD.com and PDD Holdings are off 1.9%.
What Morgan Stanley said
The uniformly negative reaction to Morgan Stanley's news may be owing to the tone set in the bank's discussion of the best known of these three stocks, Alibaba. As StreetInsider.com explains, MS removed its overweight rating from China's biggest e-commerce stock and replaced it with an equal-weight rating -- and a lower, $90 price target.
MS cited problems with Alibaba's artificial intelligence and cloud computing business, which we've discussed here as well earlier in the week, and which include but are not limited to management's decision to pull the planned IPO of its Cloud Intelligence Group. But MS also pointed to a slow turnaround in Alibaba's Customer Management Revenue business -- i.e., e-commerce, by far the largest source of revenue for Alibaba at $84.8 billion last year, according to data from S&P Global Market Intelligence.
E-commerce troubles were also the source of MS's decision to cut its price target on JD.com by 10%, to $30 a share (also with an equal-weight rating). As TheFly.com points out, the analyst has doubts about JD's ability to grow by undercutting competitors on price (and indeed, revenue growth at the company was less than 2% last quarter). MS pointed out that rival PDD is expanding in electronics and home appliance sales, threatening JD's sales growth and pressuring its profit margins.
Good news for PDD Holdings?
Which naturally brings us to PDD Holdings -- the sole beneficiary of good news today, as Morgan Stanley maintains its overweight rating on the stock and raises its price target 6% to $181 per share. Consumers are shifting spending to PDD, it seems, and the company boasts a "favorable business model," notes TheFly. Additionally, MS says PDD has an international sales business, Temu, which is "not fully valued by the market."
Thus, in a competitive market, Morgan Stanley sees PDD Holdings as investors' best bet to profit, naming the company its top pick in Chinese e-commerce. But is it right to do so?
On the one hand, sure, PDD seems to be the strongest of the three businesses, with most analysts forecasting 23% annual earnings growth for the company over the next five years. That's better than the 20% growth rate predicted for JD.com, and much better than the sub-14% forecast for Alibaba. And yet PDD Holdings stock is also the most expensive of the three, sporting a P/E ratio of more than 33 times earnings -- versus JD.com at only 13x and Alibaba at a mere 10.5x.
In fact, when valued on PEG (that's the P/E ratio divided by the growth rate) it turns out that both Alibaba and JD.com sell for PEG ratios below 1.0 (making them potential value stocks). In contrast, PDD Holdings -- again, this is Morgan Stanley's favorite -- is the only one of the three that costs so much that despite its superior growth rate, it has a PEG ratio of 1.4, which takes it out of value territory.
Morgan Stanley's endorsement notwithstanding, I'd therefore place PDD Holdings dead last on any shopping list of Chinese e-commerce stocks.
10 stocks we like better than Pdd
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 Pdd 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 November 29, 2023
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JD.com. The Motley Fool recommends Alibaba Group. 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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Which naturally brings us to PDD Holdings -- the sole beneficiary of good news today, as Morgan Stanley maintains its overweight rating on the stock and raises its price target 6% to $181 per share. Thus, in a competitive market, Morgan Stanley sees PDD Holdings as investors' best bet to profit, naming the company its top pick in Chinese e-commerce. In contrast, PDD Holdings -- again, this is Morgan Stanley's favorite -- is the only one of the three that costs so much that despite its superior growth rate, it has a PEG ratio of 1.4, which takes it out of value territory.
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Investment bank Morgan Stanley shook up the market for Chinese e-commerce stocks Thursday evening, downgrading Alibaba (NYSE: BABA) in a research report on the industry, cutting its price target on JD.com (NASDAQ: JD), but naming PDD Holdings (NASDAQ: PDD) its top pick in the sector. Thus, in a competitive market, Morgan Stanley sees PDD Holdings as investors' best bet to profit, naming the company its top pick in Chinese e-commerce. The Motley Fool recommends Alibaba Group.
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Investment bank Morgan Stanley shook up the market for Chinese e-commerce stocks Thursday evening, downgrading Alibaba (NYSE: BABA) in a research report on the industry, cutting its price target on JD.com (NASDAQ: JD), but naming PDD Holdings (NASDAQ: PDD) its top pick in the sector. What Morgan Stanley said The uniformly negative reaction to Morgan Stanley's news may be owing to the tone set in the bank's discussion of the best known of these three stocks, Alibaba. Which naturally brings us to PDD Holdings -- the sole beneficiary of good news today, as Morgan Stanley maintains its overweight rating on the stock and raises its price target 6% to $181 per share.
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Despite the bank having different opinions on the three different stocks, however, investors seem to have read only the negatives in Morgan Stanley's note -- and are selling shares in all three companies. ET, Alibaba shares are down 2.9%, while both JD.com and PDD Holdings are off 1.9%. On the one hand, sure, PDD seems to be the strongest of the three businesses, with most analysts forecasting 23% annual earnings growth for the company over the next five years.
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cd0c4780-0f17-4e45-9f52-db2a3848f551
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715055.0
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2023-12-01 00:00:00 UTC
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Technology Sector Update for 12/01/2023: PATH, ESTC, MRVL
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https://www.nasdaq.com/articles/technology-sector-update-for-12-01-2023%3A-path-estc-mrvl
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Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor index advancing 0.4%.
In corporate news, UiPath (PATH) shares jumped 25% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday.
Elastic (ESTC) shares surged 35% after it reported fiscal Q2 non-GAAP diluted earnings of $0.37 per share, compared with a breakeven a year earlier.
Marvell Technology (MRVL) shares fell 5.6% after the company's downbeat outlook for fiscal Q4 prompted price-target cuts 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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Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor index advancing 0.4%. In corporate news, UiPath (PATH) shares jumped 25% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday. Marvell Technology (MRVL) shares fell 5.6% after the company's downbeat outlook for fiscal Q4 prompted price-target cuts by analysts.
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In corporate news, UiPath (PATH) shares jumped 25% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday. Marvell Technology (MRVL) shares fell 5.6% after the company's downbeat outlook for fiscal Q4 prompted price-target cuts 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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In corporate news, UiPath (PATH) shares jumped 25% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday. Elastic (ESTC) shares surged 35% after it reported fiscal Q2 non-GAAP diluted earnings of $0.37 per share, compared with a breakeven a year earlier. The views and 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 higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor index advancing 0.4%. In corporate news, UiPath (PATH) shares jumped 25% as analysts increased their price targets on the stock following the release of the company's fiscal Q3 results late Thursday. Elastic (ESTC) shares surged 35% after it reported fiscal Q2 non-GAAP diluted earnings of $0.37 per share, compared with a breakeven a year earlier.
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7119591d-e935-4fcb-8eb5-f11dc18a4591
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715056.0
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2023-12-01 00:00:00 UTC
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Consumer Sector Update for 12/01/2023: LMNR, ULTA, TSLA
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https://www.nasdaq.com/articles/consumer-sector-update-for-12-01-2023%3A-lmnr-ulta-tsla
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Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1%.
In corporate news, Limoneira (LMNR) shares jumped 24% after it said Friday its board has initiated a process to explore alternatives, including a sale of the company, in a bid to maximize shareholder value.
Tesla (TSLA) is taking reservations for its first Cybertruck, according to the company's website, as media reports said a first batch has been delivered to a dozen people during an event on Thursday at its Austin, Texas, headquarters. Tesla shares fell 0.9%.
Ulta Beauty (ULTA) shares gained 11% after the reported fiscal Q3 net sales of $2.49 billion, up from $2.34 billion a year earlier. Analysts surveyed by Capital IQ expected $2.47 billion.
The views and 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, Limoneira (LMNR) shares jumped 24% after it said Friday its board has initiated a process to explore alternatives, including a sale of the company, in a bid to maximize shareholder value. Tesla (TSLA) is taking reservations for its first Cybertruck, according to the company's website, as media reports said a first batch has been delivered to a dozen people during an event on Thursday at its Austin, Texas, headquarters. Analysts surveyed by Capital IQ expected $2.47 billion.
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Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1%. Tesla shares fell 0.9%. Ulta Beauty (ULTA) shares gained 11% after the reported fiscal Q3 net sales of $2.49 billion, up from $2.34 billion a year earlier.
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Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1%. In corporate news, Limoneira (LMNR) shares jumped 24% after it said Friday its board has initiated a process to explore alternatives, including a sale of the company, in a bid to maximize shareholder value. Ulta Beauty (ULTA) shares gained 11% after the reported fiscal Q3 net sales of $2.49 billion, up from $2.34 billion a year earlier.
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Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1%. In corporate news, Limoneira (LMNR) shares jumped 24% after it said Friday its board has initiated a process to explore alternatives, including a sale of the company, in a bid to maximize shareholder value. Tesla (TSLA) is taking reservations for its first Cybertruck, according to the company's website, as media reports said a first batch has been delivered to a dozen people during an event on Thursday at its Austin, Texas, headquarters.
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8c12404e-b0c3-4279-a05d-80d6454d4a0f
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715057.0
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2023-12-01 00:00:00 UTC
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Energy Sector Update for 12/01/2023: ETRN, PBR, EC
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https://www.nasdaq.com/articles/energy-sector-update-for-12-01-2023%3A-etrn-pbr-ec
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Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index gaining 1.2% and the Energy Select Sector SPDR Fund (XLE) up 0.6%.
The Philadelphia Oil Service Sector index was posting a 1.1% increase, and the Dow Jones US Utilities index was adding 0.8%.
Front-month West Texas Intermediate crude was declining 1.3% to $74.92 a barrel, while global benchmark Brent was decreasing 1% to $80.02 a barrel. Henry Hub natural-gas futures were 1% higher at $2.83 per 1 million BTU.
In corporate news, Equitrans Midstream (ETRN) is in preliminary stages of weighing a potential company sale, Bloomberg reported Friday. Its shares jumped nearly 11%.
Petrobras (PBR) is considering setting up a unit in the Middle East in a bid to boost commercial ties in the Persian Gulf region, Bloomberg reported Friday. Separately, Petrobras said Friday it has signed natural gas supply contracts with Companhia Distribuidora de Gas do Rio de Janeiro and CEG Rio. Petrobras shares were adding 0.3%.
Ecopetrol (EC) said Friday its board has authorized keeping investment levels between 23 trillion Colombian pesos ($5.69 billion) and 27 trillion pesos in 2024. Its shares rose 1.5%.
The views and 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, Equitrans Midstream (ETRN) is in preliminary stages of weighing a potential company sale, Bloomberg reported Friday. Petrobras (PBR) is considering setting up a unit in the Middle East in a bid to boost commercial ties in the Persian Gulf region, Bloomberg reported Friday. Separately, Petrobras said Friday it has signed natural gas supply contracts with Companhia Distribuidora de Gas do Rio de Janeiro and CEG Rio.
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Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index gaining 1.2% and the Energy Select Sector SPDR Fund (XLE) up 0.6%. In corporate news, Equitrans Midstream (ETRN) is in preliminary stages of weighing a potential company sale, Bloomberg reported Friday. Petrobras (PBR) is considering setting up a unit in the Middle East in a bid to boost commercial ties in the Persian Gulf region, Bloomberg reported Friday.
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Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index gaining 1.2% and the Energy Select Sector SPDR Fund (XLE) up 0.6%. Petrobras (PBR) is considering setting up a unit in the Middle East in a bid to boost commercial ties in the Persian Gulf region, Bloomberg reported Friday. Separately, Petrobras said Friday it has signed natural gas supply contracts with Companhia Distribuidora de Gas do Rio de Janeiro and CEG Rio.
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The Philadelphia Oil Service Sector index was posting a 1.1% increase, and the Dow Jones US Utilities index was adding 0.8%. Front-month West Texas Intermediate crude was declining 1.3% to $74.92 a barrel, while global benchmark Brent was decreasing 1% to $80.02 a barrel. Petrobras shares were adding 0.3%.
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e0dd32cc-afde-44ba-ae61-987aee081b9d
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715058.0
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2023-12-01 00:00:00 UTC
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US to limit Chinese firms, battery parts from winning EV tax credits
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https://www.nasdaq.com/articles/us-to-limit-chinese-firms-battery-parts-from-winning-ev-tax-credits-0
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By David Shepardson and David Lawder
WASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year.
In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a "Foreign Entity of Concern." (FEOC)
The new rules, required under an August 2022 law, are designed to wean the U.S. electric vehicle battery chain away from China and are being closely watched by automakers as they make investment decisions on producing batteries for their transition to electric vehicles.
The FEOC rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them.
The Alliance for Automotive Innovation, a group representing nearly all major automakers, said the decision to exempt trace materials for two years "was significant and well-advised" and without it could have made nearly all vehicles ineligible.
Treasury said the few materials being exempted each account for less than 2% of the value of battery critical minerals.
General Motors said on Friday it believes it is "well positioned to maintain the consumer purchase incentive for many of our EVs in 2024 and beyond."
Ford Motor said in October it was awaiting the guidance to determine if its licensing agreement with Chinese battery maker CATL 300750.SZ, as part of the automaker's planned Michigan battery plant, would run afoul of the rules. Biden administration officials would not comment on whether that arrangement is permissible under the rules. Ford declined to comment.
Republican Senator Marco Rubio said the guidance appears to allow the Ford CATL agreement to qualify. He criticized the decision, arguing the administration was putting "EV special interest groups ahead of America's interests."
The Energy Department said a company would be deemed a FEOC if owned or controlled by a named foreign government. Companies will also be ineligible if an entity of concern holds 25% of that entity’s board seats, voting rights, or equity.
Those countries include North Korea, China, Russia and Iran.
The automaker group said "it appears that companies operating in China are considered FEOC. Chinese entities with specific ownership or governance structures might be permitted in certain circumstances."
The rules are expected to further reduce the number of electric vehicles eligible for EV tax credits. The law immediately made any vehicle ineligible if not assembled in North America. Earlier this year, new battery and mineral sourcing requirements took effect with price and buyer income eligibility caps from Jan. 1.
Senator Energy Committee chair Joe Manchin blasted Treasury for allowing some trace critical minerals from China to qualify and vowed to take every opportunity "to reverse this unlawful, shameful proposed rule and protect our energy security."
Treasury said to allow compliant vehicles to qualify until the rules are finalized, it will have an expedited compliance method for automakers with clean supply chains.
(Reporting by David Shepardson and David Lawder in Washington; Editing by Chizu Nomiyama, Kirsten Donovan)
((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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In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a "Foreign Entity of Concern." The Alliance for Automotive Innovation, a group representing nearly all major automakers, said the decision to exempt trace materials for two years "was significant and well-advised" and without it could have made nearly all vehicles ineligible. Treasury said to allow compliant vehicles to qualify until the rules are finalized, it will have an expedited compliance method for automakers with clean supply chains.
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By David Shepardson and David Lawder WASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a "Foreign Entity of Concern." The rules are expected to further reduce the number of electric vehicles eligible for EV tax credits.
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By David Shepardson and David Lawder WASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a "Foreign Entity of Concern." (FEOC) The new rules, required under an August 2022 law, are designed to wean the U.S. electric vehicle battery chain away from China and are being closely watched by automakers as they make investment decisions on producing batteries for their transition to electric vehicles.
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By David Shepardson and David Lawder WASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a "Foreign Entity of Concern." (FEOC) The new rules, required under an August 2022 law, are designed to wean the U.S. electric vehicle battery chain away from China and are being closely watched by automakers as they make investment decisions on producing batteries for their transition to electric vehicles.
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b00df8d9-b2b2-4251-9a77-98bc88e804e2
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715059.0
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2023-12-01 00:00:00 UTC
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Why Super Micro Computer Stock Is Pulling Back This Morning
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https://www.nasdaq.com/articles/why-super-micro-computer-stock-is-pulling-back-this-morning
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Shares of server and storage solution specialist Super Micro Computer (NASDAQ: SMCI) slumped Friday, shedding as much as 4.8%. As of 12:17 p.m. ET, the stock was still down 1.5%.
The catalyst that pushed the stock lower was a sizable secondary stock offering.
Millions of new shares
Super Micro Computer, commonly called Supermicro, announced a secondary stock offering this week that gave investors pause. In a regulatory filing with the Securities and Exchange Commission (SEC) and subsequent press release, the company said it is selling 2,100,700 shares of common stock.
Of that total, 2 million shares were being offered by the company, and 100,700 shares were being offered by "certain selling stockholders," which means the company won't receive those funds. Furthermore, Supermicro was granting underwriters a 30-day option to purchase an additional 315,105 shares at the public offering price of $262 per share.
The company expects to raise a total of $524 million before deducting underwriting discounts, commissions, and other expenses. If the underwriting banks pick up the option to buy the additional shares, Supermicro would pocket more than $606 million, less the aforementioned costs.
Is the stock still a buy?
There were a couple of reasons investors bid down Supermicro stock. First, the issue price of $262 was 4% below Thursday's closing price of over $273.
Perhaps more importantly, existing shareholders will own a smaller piece of the company. In late October, when Supermicro issued the results for its fiscal 2024 first quarter (ended Sep. 30), it said there were 53,313,542 shares of stock outstanding. Issuing more than 2 million additional shares will dilute existing shareholders to the tune of about 4.3%, if the underwriters exercise their option.
It's actually a smart move by Supermicro's management to raise cash now. The stock has ridden the rapid adoption of artificial intelligence (AI), up 233% so far this year as of the market close on Thursday. This secondary stock offering will nearly double the cash on the company's balance sheet, giving it a much greater degree of financial flexibility.
Supermicro's servers and other digital storage components and solutions will continue to see strong demand as more businesses scramble to adopt AI. Furthermore, Supermicro is a compelling opportunity at just 2 times sales. Therefore, the stock remains a buy.
10 stocks we like better than Super Micro Computer
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 Super Micro Computer wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of November 29, 2023
Danny Vena has no position in any of the stocks mentioned. The Motley Fool recommends Super Micro Computer. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of server and storage solution specialist Super Micro Computer (NASDAQ: SMCI) slumped Friday, shedding as much as 4.8%. Millions of new shares Super Micro Computer, commonly called Supermicro, announced a secondary stock offering this week that gave investors pause. In a regulatory filing with the Securities and Exchange Commission (SEC) and subsequent press release, the company said it is selling 2,100,700 shares of common stock.
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Shares of server and storage solution specialist Super Micro Computer (NASDAQ: SMCI) slumped Friday, shedding as much as 4.8%. Millions of new shares Super Micro Computer, commonly called Supermicro, announced a secondary stock offering this week that gave investors pause. The Motley Fool recommends Super Micro Computer.
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Millions of new shares Super Micro Computer, commonly called Supermicro, announced a secondary stock offering this week that gave investors pause. 10 stocks we like better than Super Micro Computer When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Danny Vena has no position in any of the stocks mentioned.
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ET, the stock was still down 1.5%. Millions of new shares Super Micro Computer, commonly called Supermicro, announced a secondary stock offering this week that gave investors pause. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Super Micro Computer wasn't one of them!
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715060.0
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2023-12-01 00:00:00 UTC
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Walmart says it is not advertising on social platform X
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https://www.nasdaq.com/articles/walmart-says-it-is-not-advertising-on-social-platform-x-0
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By Siddharth Cavale and Sheila Dang
Dec 1 (Reuters) - Walmart WMT.N said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site.
"We aren't advertising on X as we've found other platforms to better reach our customers," a Walmart spokesperson said.
X, formerly known as Twitter, did not immediately respond to a request for comment.
The platform has struggled to retain advertisers since Musk acquired the company in October 2022, and faced a fresh exodus in recent weeks over rising concern about antisemitic content.
Earlier this month, Musk agreed with an X user who falsely claimed members of the Jewish community were stoking hatred against white people, saying the user was speaking "the actual truth."
The user had also referenced the "Great Replacement" conspiracy theory, which purports that Jewish people and leftists are engineering the ethnic and cultural replacement of white populations with non-white immigrants that will lead to a "white genocide."
Musk apologized for his post during an interview at a New York Times DealBook event on Wednesday, but hurled expletives against advertisers that suspended their ads, accusing them of "blackmail."
An executive at a major ad-buying agency, who declined to be named, said X ad sales representatives appeared frustrated in the aftermath of Musk's outburst against brands and did not have much to say in conversations.
Major brands including Apple AAPL.O, Walt Disney DIS.N and Warner Bros Discovery WBD.O also suspended their ads on X this month following a report from liberal watchdog group Media Matters, which said ads had appeared next to antisemitic posts.
(Reporting by Siddharth Cavale in New York and Sheila Dang in Dallas; Editing by Chizu Nomiyama and Bill Berkrot)
((Sheila.Dang@thomsonreuters.com; +1 646-983-0894;))
The views and 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 Siddharth Cavale and Sheila Dang Dec 1 (Reuters) - Walmart WMT.N said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. The platform has struggled to retain advertisers since Musk acquired the company in October 2022, and faced a fresh exodus in recent weeks over rising concern about antisemitic content. Musk apologized for his post during an interview at a New York Times DealBook event on Wednesday, but hurled expletives against advertisers that suspended their ads, accusing them of "blackmail."
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By Siddharth Cavale and Sheila Dang Dec 1 (Reuters) - Walmart WMT.N said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. Major brands including Apple AAPL.O, Walt Disney DIS.N and Warner Bros Discovery WBD.O also suspended their ads on X this month following a report from liberal watchdog group Media Matters, which said ads had appeared next to antisemitic posts. (Reporting by Siddharth Cavale in New York and Sheila Dang in Dallas; Editing by Chizu Nomiyama and Bill Berkrot) ((Sheila.Dang@thomsonreuters.com; +1 646-983-0894;)) The views and 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 Siddharth Cavale and Sheila Dang Dec 1 (Reuters) - Walmart WMT.N said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. Earlier this month, Musk agreed with an X user who falsely claimed members of the Jewish community were stoking hatred against white people, saying the user was speaking "the actual truth." Major brands including Apple AAPL.O, Walt Disney DIS.N and Warner Bros Discovery WBD.O also suspended their ads on X this month following a report from liberal watchdog group Media Matters, which said ads had appeared next to antisemitic posts.
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By Siddharth Cavale and Sheila Dang Dec 1 (Reuters) - Walmart WMT.N said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. X, formerly known as Twitter, did not immediately respond to a request for comment. Major brands including Apple AAPL.O, Walt Disney DIS.N and Warner Bros Discovery WBD.O also suspended their ads on X this month following a report from liberal watchdog group Media Matters, which said ads had appeared next to antisemitic posts.
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ea5fd586-2aec-4fb0-a7a4-0df4f273e753
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2023-12-01 00:00:00 UTC
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Why Elastic Stock Skyrocketed to a 52-Week High Today
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https://www.nasdaq.com/articles/why-elastic-stock-skyrocketed-to-a-52-week-high-today
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Shares of cloud-based enterprise data search company Elastic (NYSE: ESTC) skyrocketed to 52-week highs after the company posted financial results for its fiscal second quarter of 2024. As of 10:50 a.m. ET, Elastic stock was up a stellar 32%.
What was so great about Q2 for Elastic?
In Q2, Elastic generated revenue of $311 million, which was up 17% year over year. To be fair, this was ahead of management's revenue guidance of $303 million to $305 million. But the outperformance was small and it may seem surprising to some that Wall Street is celebrating Q2 results with this level of excitement.
Elastic credits generative artificial intelligence (AI) for its upbeat Q2 financial results. And this might explain the market's overwhelmingly positive reaction. Many investors are familiar with generative AI programs like ChatGPT, which is really a different approach to internet search.
Whereas traditional search engines point users toward appropriate websites where they can find what they're searching for, generative AI looks for the information and synthesizes it for users.
Elastic allows its enterprise customers to search business data. But its embrace of generative AI in search is driving "customer excitement and engagement," according to CEO Ash Kulkarni.
Elastic raises its outlook
Elastic raised its full-year fiscal 2024 revenue guidance in light of Q2 financial results. The company now expects to generate revenue of $1.247 billion to $1.253 billion compared with its previous guidance range of $1.242 billion to $1.25 billion.
The revenue guidance raise isn't much -- both previously and now, Elastic's guidance rounds to 17% year-over-year growth. That said, this isn't an easy time to be in the enterprise software business because many companies are cutting back. But Elastic is maintaining strong growth and appears to be leaning into the right trends with AI.
Therefore, Elastic is still a stock that investors should pay attention to from here.
10 stocks we like better than Elastic
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 Elastic 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 November 29, 2023
Jon Quast has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Elastic. 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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Many investors are familiar with generative AI programs like ChatGPT, which is really a different approach to internet search. But its embrace of generative AI in search is driving "customer excitement and engagement," according to CEO Ash Kulkarni. That said, this isn't an easy time to be in the enterprise software business because many companies are cutting back.
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Shares of cloud-based enterprise data search company Elastic (NYSE: ESTC) skyrocketed to 52-week highs after the company posted financial results for its fiscal second quarter of 2024. Elastic raises its outlook Elastic raised its full-year fiscal 2024 revenue guidance in light of Q2 financial results. The company now expects to generate revenue of $1.247 billion to $1.253 billion compared with its previous guidance range of $1.242 billion to $1.25 billion.
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Shares of cloud-based enterprise data search company Elastic (NYSE: ESTC) skyrocketed to 52-week highs after the company posted financial results for its fiscal second quarter of 2024. Elastic raises its outlook Elastic raised its full-year fiscal 2024 revenue guidance in light of Q2 financial results. 10 stocks we like better than Elastic When our analyst team has a stock tip, it can pay to listen.
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Shares of cloud-based enterprise data search company Elastic (NYSE: ESTC) skyrocketed to 52-week highs after the company posted financial results for its fiscal second quarter of 2024. The revenue guidance raise isn't much -- both previously and now, Elastic's guidance rounds to 17% year-over-year growth. See the 10 stocks *Stock Advisor returns as of November 29, 2023 Jon Quast has no position in any of the stocks mentioned.
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96f5717d-0cdb-4b39-b409-946b7434cad2
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715062.0
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2023-12-01 00:00:00 UTC
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Looking for Income? These 3 Unusually Active Options Should Generate Income Over the Next 7 Days
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https://www.nasdaq.com/articles/looking-for-income-these-3-unusually-active-options-should-generate-income-over-the-next-7
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The S&P 500 gained 8.9% in November, the second-best November performance since 1980. Only November 2020 did better. The penultimate month of the year is starting to look like a sure-fire winner. In the past decade, the index has finished in negative territory on just one occasion, in 2021.
The Federal Reserve is expected to leave interest rates alone when it meets for the last time in 2023 on Dec. 13. That should be good for stocks in December, prompting many to suggest that a Santa rally is here and could continue for weeks.
However, PNC Asset Management Group chief investment officer Amanda Agati told Yahoo Finance on Tuesday that a Santa Claus rally is unlikely.
“I think what we're left with is a bit of a rangebound kind of choppy market from here through year-end,” Agati said.
So, with uncertainty about the markets’ momentum, it might be time to look for a few income plays heading into December. These three unusually active options from Thursday should help get you started.
Have an excellent weekend!
Snowflake
Snowflake (SNOW) stock gained more than 26% over the past month. The data-as-a-service (DaaS) cloud computing company is now up 35% year-to-date, with one left in the year before closing the books on 2023 trading.
Although I wouldn’t sneeze at a 26% gain in a single month, SNOW stock has traded near $400 on two occasions in the past five years -- November 2021 and December 2020 -- so there’s plenty of room for Snowflake’s share price to run in the months ahead.
Berkshire Hathaway (BRK.B), Warren Buffett’s holding company, owns 1.9% of Snowflake, a position taken in 2020’s third quarter at an average price of $238.10, well above where it’s currently trading. He can afford to be patient with his investments.
Analysts generally like Snowflake. Of the 34 that cover its stock, 24 rate it a Moderate or Strong Buy (4.29 out of 5). However, the target price of $187.24 is only a few dollars higher than where it’s currently trading.
The company reported Q3 2024 results on Wednesday. They were very healthy, with revenues of $734 million, 32% higher than a year earlier and more than $20 million higher than the analyst estimate. On the bottom line, its adjusted earnings per share were $0.25, nine cents higher than the consensus.
It finished the quarter with remaining performance obligations of $3.7 billion, 23% higher than a year ago, with 436 customers generating more than $1 million over the trailing 12 months.
For 2024, it expects revenues to grow by 37% to $2.65 billion, with an operating margin of 7%, both higher than analyst expectations.
The income play is the Dec. 8 $180 put. If you sell one of those bad boys, you’ll pocket $140 per contract should its share price remain above $180 for the next week. The annualized yield of 42%. Should it fall to $180, your net price would be $178.60.
Given the latest results, it’s hard to see its shares retreating much between now and next Friday.
Apple
Apple (AAPL) had seven unusually active options on Thursday, with Vol/OI ratios ranging from a low of 1.30 to a high of 8.87.
I’ve narrowed it down to two calls: Dec. 8 $187.50 and Dec. 8 $197.50. The former Vol/OI was 8.87, while the latter’s was 1.99. Their ask prices were $3.55 and $0.11, respectively.
Ok, first, I’m going to assume you know why Apple is Berkshire Hathaway’s largest equity holding by a country mile, accounting for 48.2% of its $363 billion equity portfolio.
So, based on yesterday’s closing price of $189.95, AAPL stock has to rise by 2.6% or $5.02 in the next week to double your money on the $187.50 call. For the $197.50 call, the share price has to rise by 1.0% or $1.92 by next Friday to double your money.
As I write this, AAPL stock is up $1.40 in Friday trading, getting you nearly three-quarters of the way to the $1.92 bump needed on the $197.50 call. Today's ask price is up a penny to $0.12, with a $1.88 increase required to double your money.
This would be the safest of the three bets.
Beyond Meat
There is a good possibility that the struggling plant-based food company’s stock bottomed in late October at around $5.58. Since hitting a 52-week low, Beyond Meat (BYND) is up 34%. While it’s got a long way to go to get back to $235, where it traded in 2019, I think there are brighter times ahead for the company and its stock.
As I write this, halfway through Friday trading, Beyond Meat’s options volume is already at 16,402, nearly 80% of its 30-day average. The number of shares traded is relatively decent at 1.14 million, roughly half its 30-day average.
So, BYND had five options with unusual options activity on Thursday. I’m interested in the one with the highest volume-to-open-interest (Vol/OI) ratio. That would be the Dec. 8 $6.50 put with a 9.30 Vol/OI.
If you sell this contract, the bid of $0.35 is an annualized yield of 250%. It’s that high because of the risk associated with owning BYND stock.
While I understand one’s apprehension about making this bet -- it’s definitely an aggressive play -- I wouldn’t suggest it if it were longer than a week or two.
Beyond Meat reported its Q3 2023 results in early November, which were awful. Revenues fell 8.7% to $75.3 million, while it lost $57.5 million on an adjusted EBITDA basis, down from $73.8 million a year earlier.
“As we shared last week, we are conducting a review of our global operations for purposes of further and significantly reducing our operating expense base as we seek to accelerate our transition to a sustainable and, ultimately, profitable business,” stated CEO Ethan Brown.
Beyond Meat’s operating expenses fell by 29% to $182.3 million through the first nine months of the year. As it continues to hack away at its costs, the cash saved gives it more time to figure out a way out of the deep hole it’s dug for itself.
The company’s $1.15 billion in 0% convertible senior notes due March 15, 2027, have a fair value of $299 million, or just 26% of the face value. I’m not a credit expert, but those would be a possible contrarian buy, possibly a much better opportunity than its stock.
But that is a subject for another day.
More Options News from Barchart
Tesla Still Looks Attractive to Sellers of OTM Puts as an Income Play
Should You Follow Ryan Cohen Into Nordstrom?
2 Option Ideas To Consider This Thursday
Everything You Need to Know About Michael Burry's 'Big Short' Bet on Chip Stocks
On the date of publication, Will Ashworth 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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However, PNC Asset Management Group chief investment officer Amanda Agati told Yahoo Finance on Tuesday that a Santa Claus rally is unlikely. It finished the quarter with remaining performance obligations of $3.7 billion, 23% higher than a year ago, with 436 customers generating more than $1 million over the trailing 12 months. 2 Option Ideas To Consider This Thursday Everything You Need to Know About Michael Burry's 'Big Short' Bet on Chip Stocks On the date of publication, Will Ashworth did not have (either directly or indirectly) positions in any of the securities mentioned in this article.
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Snowflake Snowflake (SNOW) stock gained more than 26% over the past month. Although I wouldn’t sneeze at a 26% gain in a single month, SNOW stock has traded near $400 on two occasions in the past five years -- November 2021 and December 2020 -- so there’s plenty of room for Snowflake’s share price to run in the months ahead. Apple Apple (AAPL) had seven unusually active options on Thursday, with Vol/OI ratios ranging from a low of 1.30 to a high of 8.87.
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Although I wouldn’t sneeze at a 26% gain in a single month, SNOW stock has traded near $400 on two occasions in the past five years -- November 2021 and December 2020 -- so there’s plenty of room for Snowflake’s share price to run in the months ahead. They were very healthy, with revenues of $734 million, 32% higher than a year earlier and more than $20 million higher than the analyst estimate. So, based on yesterday’s closing price of $189.95, AAPL stock has to rise by 2.6% or $5.02 in the next week to double your money on the $187.50 call.
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Berkshire Hathaway (BRK.B), Warren Buffett’s holding company, owns 1.9% of Snowflake, a position taken in 2020’s third quarter at an average price of $238.10, well above where it’s currently trading. So, based on yesterday’s closing price of $189.95, AAPL stock has to rise by 2.6% or $5.02 in the next week to double your money on the $187.50 call. Beyond Meat’s operating expenses fell by 29% to $182.3 million through the first nine months of the year.
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66538779-6308-4583-8e9b-30eb05577839
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715063.0
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2023-12-01 00:00:00 UTC
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Health Care Sector Update for 12/01/2023: PFE, NLSP, EMBC
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DCOMP
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https://www.nasdaq.com/articles/health-care-sector-update-for-12-01-2023%3A-pfe-nlsp-embc
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nan
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nan
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Health care stocks rose Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.3%.
The iShares Biotechnology ETF (IBB) was up 0.7%.
In corporate news, Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study. Pfizer shares fell 4.5%.
NLS Pharmaceutics (NLSP) jumped 19% after it said Friday it has signed an exclusive option agreement under which it may acquire global development and commercialization rights to Aexon Labs' assets for the potential treatment of narcolepsy and other neuro-degenerative disorders.
Embecta (EMBC) said Friday that a safety notice released by the US Food and Drug Administration related to some plastic syringes doesn't apply to its products. Its shares rose 1.2%.
The views and 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, Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study. NLS Pharmaceutics (NLSP) jumped 19% after it said Friday it has signed an exclusive option agreement under which it may acquire global development and commercialization rights to Aexon Labs' assets for the potential treatment of narcolepsy and other neuro-degenerative disorders. Embecta (EMBC) said Friday that a safety notice released by the US Food and Drug Administration related to some plastic syringes doesn't apply to its products.
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Health care stocks rose Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.3%. Pfizer shares fell 4.5%. Its shares rose 1.2%.
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Health care stocks rose Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.3%. In corporate news, Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Health care stocks rose Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.3%. The iShares Biotechnology ETF (IBB) was up 0.7%. In corporate news, Pfizer (PFE) said Friday that it will not advance trials of its twice-daily weight loss drug, danuglipron, amid a high number of participants reporting adverse side effects, even as the experimental pill met its primary endpoint in a mid-stage study.
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4b05f553-07e2-4045-94ec-87aeb2b8f380
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715064.0
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2023-12-01 00:00:00 UTC
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Investing in Digital Laughter: The Future of Online Comedy Platforms
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https://www.nasdaq.com/articles/investing-in-digital-laughter-the-future-of-online-comedy-platforms
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nan
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O
nline comedy has evolved lightyears since the early dot-com days. No longer confined to clubs and talk shows, humor now thrives on our phones, meeting us wherever we are, whenever a laugh is needed. For investors, this modern landscape brims with potential as digital platforms provide opportunities to buy into rising stars early. Its growing influence today feels undeniable, shaping culture, swaying trends, and driving profits.
This article explores online comedy's most pivotal evolutionary turns and shares insights for investors to capitalize on the next wave of tech innovations.
The history and growth of online comedy platforms
Let's turn back the clock to the .com bubble era. For those of us who grew up with the early internet, comedy was confined to TV screens and movie theaters before sites like The Onion and CollegeHumor (now Dropout.tv) emerged. These sites, and many others, opened up the comedic potential of the web, sparking a digital humor revolution.
When social media entered the scene, comedy found yet another breakthrough platform. Comedians harnessed the instant reach of Twitter, TikTok, and YouTube (GOOG), attracting millions of followers overnight. Suddenly, fan bases didn't require live touring to score a coveted Netflix (NFLX) special - the power, in many ways, is now in the comedian's own hands.
Online platforms redefined virality almost daily, and today, funny video makers wield immense influence - collaborating with major brands, launching merchandise lines, and landing TV deals.
The Metaverse and online comedy
As online comedy continues evolving, the metaverse has emerged as an unexpected new frontier. Comedians have begun creating their own virtual comedy clubs to connect with audiences seeking unique experiences. Platforms like Unknown Theater craft interactive spaces where real-world standups can perform sets while audiences around the globe tune in through VR headsets. It's an uncharted territory where the normal rules of comedy venues no longer apply.
As reported by The Verge, some comics like Simon Josh Abramovitch now perform their own shows in the metaverse, drawn in by higher profit margins and creative freedom. They tailor content specifically for these new virtual worlds. Their abilities to build loyal in-world followings hint at the power and influence metaverse comedy could someday wield. While still relatively early days, platforms supporting virtual comedy are attracting talent and audiences at staggering rates, and as technology advances, the metaverse could reshape comedy consumption and even propel new stars.
For forward-thinking investors, Meta (META) warrants attention. Despite being recently targeted for their ad-free service, Meta, Facebook and Instagram drive Meta's 2.9+ billion monthly active users - allowing emerging comedy talent mass audience-building potential.
Investing in laughs
As streaming platforms and social media transform comedy distribution, the profits flow, paving the way for investors. Netflix (NFLX) now allocates around 12% of its vast offerings to comedy series and specials, and with stock currently at $478.31, its aggressive expansion in the comedy arena is paying dividends. With 49% of households considering Netflix to be their most important streaming subscription, though a dip from 53% compared to last year, Netflix is still seeing steady growth in its subscriber base and is outperforming the streaming market.
NBCUniversal scooped up legacy comedy brands and is now raking in millions. The number of paid subscribers reached 13 million, with 28 million monthly active accounts in the U.S., marking an increase from 24.5 million at the close of 2021.
The recent Warner Bros. Discovery (WBD) merger has created a $10+ billion entertainment titan. Blending HBO Max's comedy catalog, including classics like Friends, with Discovery's unscripted shows gives them a formidable scale. Integrating HBO Max and Discovery+ next year could unlock additional growth even as stock prices temporarily lag. The company recently announced the discontinuation of specific benefits, such as 4K, for its existing ad-free subscribers. This decision is part of the company's strategy to eliminate premium perks, and instead provide ad-supported services at a more affordable rate to improve its customer base.
The Zacks Consensus Estimate projects that WBD's total Direct-to-Consumer subscribers for 2023 will be 96,462, reflecting a 0.37% year-over-year increase. Additionally, the Zacks Consensus Estimate for revenues is forecasted to be $41.4 billion, signaling a substantial year-over-year growth of 22.42%.
But aside from the big players, the next generation of online comedy disruptors – scrappy startups like Dropout.tv and Funny or Die – are emerging in the space. While not yet publicly traded, ByteDance's TikTok also carries industry disruption potential through its billion-plus, mostly Gen Z users. As comedy consumption patterns shift, TikTok sits poised to capitalize.
For opportunistic investors, monitoring engagement across both established comedy outlets and emerging challengers signals where untapped growth potential resides. For investors willing to dive in, returns can be huge. In online comedy these days, the next big score might come from the most unlikely place.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Suddenly, fan bases didn't require live touring to score a coveted Netflix (NFLX) special - the power, in many ways, is now in the comedian's own hands. Online platforms redefined virality almost daily, and today, funny video makers wield immense influence - collaborating with major brands, launching merchandise lines, and landing TV deals. Platforms like Unknown Theater craft interactive spaces where real-world standups can perform sets while audiences around the globe tune in through VR headsets.
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While still relatively early days, platforms supporting virtual comedy are attracting talent and audiences at staggering rates, and as technology advances, the metaverse could reshape comedy consumption and even propel new stars. Despite being recently targeted for their ad-free service, Meta, Facebook and Instagram drive Meta's 2.9+ billion monthly active users - allowing emerging comedy talent mass audience-building potential. The number of paid subscribers reached 13 million, with 28 million monthly active accounts in the U.S., marking an increase from 24.5 million at the close of 2021.
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The Metaverse and online comedy As online comedy continues evolving, the metaverse has emerged as an unexpected new frontier. While still relatively early days, platforms supporting virtual comedy are attracting talent and audiences at staggering rates, and as technology advances, the metaverse could reshape comedy consumption and even propel new stars. Despite being recently targeted for their ad-free service, Meta, Facebook and Instagram drive Meta's 2.9+ billion monthly active users - allowing emerging comedy talent mass audience-building potential.
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The Metaverse and online comedy As online comedy continues evolving, the metaverse has emerged as an unexpected new frontier. The number of paid subscribers reached 13 million, with 28 million monthly active accounts in the U.S., marking an increase from 24.5 million at the close of 2021. The company recently announced the discontinuation of specific benefits, such as 4K, for its existing ad-free subscribers.
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9aa00448-fa2f-4841-aefb-cfa3517a91e7
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715065.0
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2023-12-01 00:00:00 UTC
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3 Battery Stocks That Could Be Multibaggers in the Making
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https://www.nasdaq.com/articles/3-battery-stocks-that-could-be-multibaggers-in-the-making
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The electric vehicle industry is going through several important changes that have stunted prices. However, the current expectation is that presently muted demand will not continue indefinitely. The industry has already reached a critical mass that all but ensures the continued growth of the industry.
In fact, this graph indicates that the demand curve is about to incline steeply again. That makes it an especially fortuitous time to invest in battery stocks. Technological advances hold major promises for the sector. Solid-state batteries are one of the primary investment areas to consider. Further lithium will be required for both current and future battery types. Thus, these companies could help turn a dollar invested into several dollars.
Solid Power (SLDP)
Source: T. Schneider / Shutterstock.com
Solid Power (NASDAQ:SLDP) Is one of the leading stocks to consider in the solid-state battery sector. The company is working to rapidly develop the technology which promises to revolutionize the electric vehicle industry.
Solid-state batteries utilize a solid electrolyte that is superior to current battery technology. Solid-state batteries have an improved safety profile relative to the batteries used in current EVs. The electrolyte itself is solid and non-flammable. Further, solid-state batteries have greater energy density and delete allowing the production of smaller batteries.
Most importantly, solid-state batteries drastically extend the range of electric vehicles and do so with faster charging and longer life cycles.
Solid Power recently began shipping its sample EV cells for qualification. The company has developed relationships with leading manufacturers including BMW. Also, the company’s top-line growth remains strong. Growth stocks such as Solid Power are in a strong position due to current expectations around interest rates.
Lithium Americas (LAC)
Source: Wirestock Creators / Shutterstock.com
Lithium Americas (NYSE:LAC) is a very well-positioned lithium stock for investors seeking multi-bagger returns. The company recently separated its operations in order to take full advantage of its ownership over Thacker Pass.
Thacker Pass is located in Nevada and sits above the largest measured and indicated lithium resource in the Americas. In fact, Thacker Pass is the second-largest recorded lithium source on earth.
The company began Construction at its Nevada site in early 2023 and production is expected in 2026. So, it’s clear that there is real risk in investing in LAC stock. However, as mentioned, electric vehicles are going nowhere. Sales have reached a critical mass and governments and manufacturers are fully on board with the transition.
Further, lithium is required in current-generation EV batteries as well as solid-state EV batteries. All indications are that Lithium Americas continues to have very real potential to multiply any investments made today.
Of course, Lithium Americas is ultimately a commodity stock. Swings in price are inherent to the nature of the sector but the long-term outlook remains very positive. Investors would be hard-pressed to find a lithium stock that is better aligned with American geopolitics in relation to the electric vehicle sector.
QuantumScape (QS)
Source: rafapress / Shutterstock.com
QuantumScape (NYSE:QS) Is another solid-state battery developer with multibagger potential. The stock has exhibited that potential in 2023 as lithium prices have fluctuated wildly.
The electric vehicle industry and the lithium sector are undergoing significant issues at the moment. As a result, the prices across all of the interrelated sectors remain muted. That continues to be an opportunity for contrarian investors. QuantumScape’s shares are trading below $6 at the moment. However at two distinct points in 2023 they have traded above $11.
Again, the long-term outlook remains strong for electric vehicles. If QuantumScape succeeds in commercializing solid-state batteries, prices will rocket upward.
At this point there isn’t that much to report regarding the company’s progress. It hasn’t made any massive breakthroughs nor has it made any fatal errors. Instead, QuantumScape continues to progress. Investors should understand that investing in QuantumScape is inherently risky. The company remains in the pre-revenue stages and burns through more than 100 million dollars each quarter. That said, its liquidity reserves at present are sufficient for the company to continue to operate indefinitely.
On the date of publication, Alex Sirois 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.
Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.
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The post 3 Battery Stocks That Could Be Multibaggers in the Making 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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Most importantly, solid-state batteries drastically extend the range of electric vehicles and do so with faster charging and longer life cycles. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post 3 Battery Stocks That Could Be Multibaggers in the Making appeared first on InvestorPlace.
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Solid Power (SLDP) Source: T. Schneider / Shutterstock.com Solid Power (NASDAQ:SLDP) Is one of the leading stocks to consider in the solid-state battery sector. Lithium Americas (LAC) Source: Wirestock Creators / Shutterstock.com Lithium Americas (NYSE:LAC) is a very well-positioned lithium stock for investors seeking multi-bagger returns. QuantumScape (QS) Source: rafapress / Shutterstock.com QuantumScape (NYSE:QS) Is another solid-state battery developer with multibagger potential.
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Solid Power (SLDP) Source: T. Schneider / Shutterstock.com Solid Power (NASDAQ:SLDP) Is one of the leading stocks to consider in the solid-state battery sector. Lithium Americas (LAC) Source: Wirestock Creators / Shutterstock.com Lithium Americas (NYSE:LAC) is a very well-positioned lithium stock for investors seeking multi-bagger returns. Further, lithium is required in current-generation EV batteries as well as solid-state EV batteries.
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The company is working to rapidly develop the technology which promises to revolutionize the electric vehicle industry. Solid-state batteries utilize a solid electrolyte that is superior to current battery technology. Instead, QuantumScape continues to progress.
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db3b4e6b-fe83-4b93-968e-45685eb80f81
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715066.0
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2023-12-01 00:00:00 UTC
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Friday's ETF with Unusual Volume: WTAI
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DCOMP
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https://www.nasdaq.com/articles/fridays-etf-with-unusual-volume%3A-wtai-1
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nan
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The WisdomTree Artificial Intelligence and Innovation Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 1.0 million shares traded versus three month average volume of about 147,000. Shares of WTAI were up about 2.2% on the day.
Components of that ETF with the highest volume on Friday were Tesla, trading down about 0.9% with over 93.0 million shares changing hands so far this session, and Uipath, up about 25.3% on volume of over 40.0 million shares. Elastic is the component faring the best Friday, higher by about 34.9% on the day, while Snowflake is lagging other components of the WisdomTree Artificial Intelligence and Innovation Fund ETF, trading lower by about 2.6%.
VIDEO: Friday's ETF with Unusual Volume: WTAI
The views and 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 WisdomTree Artificial Intelligence and Innovation Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 1.0 million shares traded versus three month average volume of about 147,000. Components of that ETF with the highest volume on Friday were Tesla, trading down about 0.9% with over 93.0 million shares changing hands so far this session, and Uipath, up about 25.3% on volume of over 40.0 million shares. Elastic is the component faring the best Friday, higher by about 34.9% on the day, while Snowflake is lagging other components of the WisdomTree Artificial Intelligence and Innovation Fund ETF, trading lower by about 2.6%.
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The WisdomTree Artificial Intelligence and Innovation Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 1.0 million shares traded versus three month average volume of about 147,000. Elastic is the component faring the best Friday, higher by about 34.9% on the day, while Snowflake is lagging other components of the WisdomTree Artificial Intelligence and Innovation Fund ETF, trading lower by about 2.6%. VIDEO: Friday's ETF with Unusual Volume: WTAI The views and 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 WisdomTree Artificial Intelligence and Innovation Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 1.0 million shares traded versus three month average volume of about 147,000. Components of that ETF with the highest volume on Friday were Tesla, trading down about 0.9% with over 93.0 million shares changing hands so far this session, and Uipath, up about 25.3% on volume of over 40.0 million shares. Elastic is the component faring the best Friday, higher by about 34.9% on the day, while Snowflake is lagging other components of the WisdomTree Artificial Intelligence and Innovation Fund ETF, trading lower by about 2.6%.
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The WisdomTree Artificial Intelligence and Innovation Fund ETF is seeing unusually high volume in afternoon trading Friday, with over 1.0 million shares traded versus three month average volume of about 147,000. Elastic is the component faring the best Friday, higher by about 34.9% on the day, while Snowflake is lagging other components of the WisdomTree Artificial Intelligence and Innovation Fund ETF, trading lower by about 2.6%. VIDEO: Friday's ETF with Unusual Volume: WTAI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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1e2c87df-77a1-4a96-9160-6d3b0a70132e
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715067.0
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2023-12-01 00:00:00 UTC
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EXCLUSIVE-Activist investor Blackwells plans Wendy's board challenge-sources
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https://www.nasdaq.com/articles/exclusive-activist-investor-blackwells-plans-wendys-board-challenge-sources
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nan
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nan
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By Svea Herbst-Bayliss
Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday.
Blackwells, run by Jason Aintabi, plans to nominate several directors to Wendy's 12-member board, said the sources, who asked not to be identified discussing confidential deliberations.
The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board.
Blackwells antagonized Trian this week at another company -- Walt Disney Co DIS.N. Blackwells issued a statement on Thursday criticizing Trian for its attempted board challenge against the entertainment giant and came out in support of Disney CEO Bob Iger.
The size of Blackwells' stake in Wendy's could not be learned. Blackwells declined to comment. Wendy's and Trian did not immediately respond to requests for comment.
Wendy's, which is worth $3.8 billion, has seen its stock price drop 15% this year amid investor concerns about decelerating growth in its same-restaurant sales. By comparison, competitor McDonald's Corp's MCD.N stock price has risen 7.33%, Shake Shack Inc's SHAK.N is up 46% and Restaurant Brands International Inc QSR.TO, which owns Burger King and other fast food chains, has climbed 11% this year.
Blackwells made headlines last year when Aintabi pushed exercise bike maker Peloton Interactive Inc PTON.O to fire its CEO John Foley and to explore a sale. Peloton replaced Foley but has not sold itself.
Trian explored taking Wendy's private last year but announced in January that it would no longer pursue this option.
Wendy's reported adjusted third-quarter earnings per share of 27 cents last month, beating analysts' average estimate of 25 cents. Yet it posted same-restaurant sales growth of 2.8% globally and 2.2% for the United States that were lower than a year ago. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.
(Reporting by Svea Herbst-Bayliss in Rhode Island; Editing by Chizu Nomiyama)
((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters Messaging: svea.herbst.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 Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. By comparison, competitor McDonald's Corp's MCD.N stock price has risen 7.33%, Shake Shack Inc's SHAK.N is up 46% and Restaurant Brands International Inc QSR.TO, which owns Burger King and other fast food chains, has climbed 11% this year. Blackwells made headlines last year when Aintabi pushed exercise bike maker Peloton Interactive Inc PTON.O to fire its CEO John Foley and to explore a sale.
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By Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.
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By Svea Herbst-Bayliss Dec 1 (Reuters) - Activist hedge fund Blackwells Capital is preparing to challenge Wendy's Co's WEN.O board of directors in a push for improvements to the fast food chain's financial performance, people familiar with the matter said on Friday. The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.
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Blackwells, run by Jason Aintabi, plans to nominate several directors to Wendy's 12-member board, said the sources, who asked not to be identified discussing confidential deliberations. The challenge pits Blackwells against another activist hedge fund, Trian Fund Management, which owns a 16% stake in Wendy's and has three representatives -- Trian CEO Nelson Peltz, Trian President Peter May and Trian research co-head Matthew Peltz -- serving on the Dublin, Ohio-based company's board. Wendy's, which is worth $3.8 billion, has seen its stock price drop 15% this year amid investor concerns about decelerating growth in its same-restaurant sales.
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458d2136-24bd-4e7b-a584-d82427c2f49d
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715068.0
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2023-12-01 00:00:00 UTC
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Why Lucid Group Stock Popped Friday Morning
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DCOMP
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https://www.nasdaq.com/articles/why-lucid-group-stock-popped-friday-morning
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nan
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nan
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Shares of electric car maker and would-be Tesla (NASDAQ: TSLA) killer Lucid Group (NASDAQ: LCID) scored another victory on Friday, rising 5.3% through 11:35 a.m. ET as Tesla shares skidded 1.5% lower.
And here's the real surprise: Lucid has Tesla to thank for this.
Tesla held its first "delivery event" for its new electric Cybertruck last night. Therein, CEO Elon Musk confirmed both the price for the production model of the truck (starting at $60,990, and going up as high as $99,990 for a long-range variant), and also its range -- 250 miles for the base version, 340 miles for AWD, and something like 470 miles with an optional "range extender" battery pack.
Lucid versus Tesla
Investors (and truck buyers, too, it seems) were underwhelmed. Tesla's starting price on the base model Cybertruck more than 50% higher than the $40,000 MSRP that Tesla initially promised. The range on the truck in the base model is also only half the 500 miles initially rumored. And despite apparently making every effort to at least appear to fulfill promises with the offer of a "range extender," Tesla still fell short of its 500-mile goal.
Fine. So last night's news was bad for Tesla. But why are investors thinking it might be good news for Lucid this morning?
Well basically, because Tesla is making Lucid -- and in particular, its new Lucid Gravity three-row electric SUV -- look good by comparison. Priced under $80,000 MSRP, the Gravity may undercut at least some more expensive Cybertrucks on price. And boasting a driving range "in excess of 440 miles," it would appear that the Gravity beats all but the very biggest, priciest Cybertrucks on range -- and even then, you'd need to buy the optional Cybertruck range extender for Cybertruck to defy Gravity.
Is Lucid stock a buy?
All that being said, I wouldn't get too excited about Cybertruck's deficiencies if I were a Lucid shareholder. Recall that the Gravity is at least a year behind the Cybertruck in development, with production not expected to begin before late 2024 -- and that date could be delayed. By the time actual production-model Gravities are available for sale, the price and specs on this vehicle could change -- just as they changed for many disappointed Cybertruck pre-order-ers last night.
Consider, too, that the Gravity and Cybertruck are targeting different market segments, with the Gravity more likely to attract luxury SUV buyers.
Last and most importantly for investors, recall that Lucid Group, the company behind the Gravity, is suffering from slumping sales, is losing money, and is burning cash. With only $2 billion in net cash remaining, and a cash-burn rate of $3.6 billion per year, Lucid may not even live long enough to see the Gravity go on sale.
I'm not saying that's the way things will play out. But I am saying it's a risk -- and one you should consider before investing in money-losing Lucid stock.
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 November 29, 2023
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And despite apparently making every effort to at least appear to fulfill promises with the offer of a "range extender," Tesla still fell short of its 500-mile goal. Recall that the Gravity is at least a year behind the Cybertruck in development, with production not expected to begin before late 2024 -- and that date could be delayed. Last and most importantly for investors, recall that Lucid Group, the company behind the Gravity, is suffering from slumping sales, is losing money, and is burning cash.
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Shares of electric car maker and would-be Tesla (NASDAQ: TSLA) killer Lucid Group (NASDAQ: LCID) scored another victory on Friday, rising 5.3% through 11:35 a.m. Tesla's starting price on the base model Cybertruck more than 50% higher than the $40,000 MSRP that Tesla initially promised. And boasting a driving range "in excess of 440 miles," it would appear that the Gravity beats all but the very biggest, priciest Cybertrucks on range -- and even then, you'd need to buy the optional Cybertruck range extender for Cybertruck to defy Gravity.
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Tesla's starting price on the base model Cybertruck more than 50% higher than the $40,000 MSRP that Tesla initially promised. Well basically, because Tesla is making Lucid -- and in particular, its new Lucid Gravity three-row electric SUV -- look good by comparison. And boasting a driving range "in excess of 440 miles," it would appear that the Gravity beats all but the very biggest, priciest Cybertrucks on range -- and even then, you'd need to buy the optional Cybertruck range extender for Cybertruck to defy Gravity.
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Shares of electric car maker and would-be Tesla (NASDAQ: TSLA) killer Lucid Group (NASDAQ: LCID) scored another victory on Friday, rising 5.3% through 11:35 a.m. And boasting a driving range "in excess of 440 miles," it would appear that the Gravity beats all but the very biggest, priciest Cybertrucks on range -- and even then, you'd need to buy the optional Cybertruck range extender for Cybertruck to defy Gravity. * 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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51856f97-ce94-4f40-93a6-667ab1133980
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715069.0
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2023-12-01 00:00:00 UTC
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ACRES Commercial (ACR) Expands Share Buyback Program by $10M
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DCOMP
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https://www.nasdaq.com/articles/acres-commercial-acr-expands-share-buyback-program-by-%2410m
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nan
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nan
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ACRES Commercial Realty Corp.’s ACR board of directors authorized an additional $10 million of the outstanding shares of both its common and preferred stock under its existing share repurchase program.
In November 2021, the company was authorized to repurchase $20 million of the outstanding shares of its common stock. In the nine months ended Sep 30, 2023, ACR repurchased 298,000 shares for $2.7 million. It has $4.1 million of authorization remaining under this program.
Markedly, the company has been enhancing shareholder value on the back of share buybacks. In March 2016, ACRES Commercial was authorized with its securities repurchase program. In November 2020, the company was approved to repurchase up to $20 million of our outstanding shares of its common stock.
In July 2021, the authorized amount was fully used. Consequently, in November 2021, the company was authorized with the current $20-million program.
Since it repurchases its common stock at significant discounts to book value, these buybacks have been accretive to book value per share since the inception of the program. As of Sep 30, 2023, book value per share increased 2.3% sequentially to $25.07, with repurchases accounting for 15 cents of this increase.
The company’s share repurchase activities seem sustainable and might stoke investors’ confidence in the stock, with $104 million in total liquidity as of the third-quarter end, a record of buybacks and decent earnings strength.
In the past six months month, ACR shares have declined 10.5% against the industry's rise of 0.3%.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Share Buyback Plans of Other Companies
Provident Financial Holdings, Inc. PROV announced a share repurchase plan 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, wherein PROV was set to buy back approximately 364,259 shares. In April 2023, PROV announced an extension of the program for a year or until it is completed, whichever is earlier.
Hanover Bancorp, Inc. HNVR announced a share buyback program. Under the plan, for which it has received the board’s approval, the company is set to buy back approximately 366,050 or nearly 5% of its outstanding shares.
HNVR maintains strong liquidity and a robust capital position, indicating that it will be able to sustain such capital distribution activities, thereby enhancing shareholder value.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Provident Financial Holdings, Inc. (PROV) : Free Stock Analysis Report
ACRES Commercial Realty Corp. (ACR) : Free Stock Analysis Report
Hanover Bancorp, Inc. (HNVR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company’s share repurchase activities seem sustainable and might stoke investors’ confidence in the stock, with $104 million in total liquidity as of the third-quarter end, a record of buybacks and decent earnings strength. This new repurchase plan replaced the previous program, which was announced in April 2022, wherein PROV was set to buy back approximately 364,259 shares. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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ACRES Commercial Realty Corp.’s ACR board of directors authorized an additional $10 million of the outstanding shares of both its common and preferred stock under its existing share repurchase program. Share Buyback Plans of Other Companies Provident Financial Holdings, Inc. PROV announced a share repurchase plan to buy back up to 350,353 shares or nearly 5% of its outstanding shares. Click to get this free report Provident Financial Holdings, Inc. (PROV) : Free Stock Analysis Report ACRES Commercial Realty Corp. (ACR) : Free Stock Analysis Report Hanover Bancorp, Inc. (HNVR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ACRES Commercial Realty Corp.’s ACR board of directors authorized an additional $10 million of the outstanding shares of both its common and preferred stock under its existing share repurchase program. Share Buyback Plans of Other Companies Provident Financial Holdings, Inc. PROV announced a share repurchase plan to buy back up to 350,353 shares or nearly 5% of its outstanding shares. Click to get this free report Provident Financial Holdings, Inc. (PROV) : Free Stock Analysis Report ACRES Commercial Realty Corp. (ACR) : Free Stock Analysis Report Hanover Bancorp, Inc. (HNVR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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ACRES Commercial Realty Corp.’s ACR board of directors authorized an additional $10 million of the outstanding shares of both its common and preferred stock under its existing share repurchase program. In November 2021, the company was authorized to repurchase $20 million of the outstanding shares of its common stock. It has $4.1 million of authorization remaining under this program.
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da6860cf-dbec-4b45-96b7-6ae1d0ce676d
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715070.0
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2023-12-01 00:00:00 UTC
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Wingstop (WING) is an Incredible Growth Stock: 3 Reasons Why
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DCOMP
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https://www.nasdaq.com/articles/wingstop-wing-is-an-incredible-growth-stock%3A-3-reasons-why-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.
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, 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, makes it pretty easy to find cutting-edge growth stocks.
Wingstop (WING) 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 for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
Here are three of the most important factors that make the stock of this restaurant chain a great growth pick right now.
Earnings Growth
Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. 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 Wingstop is 27.1%, investors should actually focus on the projected growth. The company's EPS is expected to grow 29.2% this year, crushing the industry average, which calls for EPS growth of 16.8%.
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 Wingstop is 37.3%, which is higher than many of its peers. In fact, the rate compares to the industry average of 0.7%.
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 21.7% over the past 3-5 years versus the industry average of 5%.
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 Wingstop have been revising upward. The Zacks Consensus Estimate for the current year has surged 8.6% over the past month.
Bottom Line
Wingstop 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 #1 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 positions Wingstop well for outperformance, so growth investors may want to bet on it.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wingstop Inc. (WING) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company's annualized cash flow growth rate has been 21.7% over the past 3-5 years versus the industry average of 5%. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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However, 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, makes it pretty easy to find cutting-edge growth stocks. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Click to get this free report Wingstop Inc. (WING) : Free Stock Analysis Report To read this article on Zacks.com click here.
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However, 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, makes it pretty easy to find cutting-edge growth stocks. Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. 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.
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The company's annualized cash flow growth rate has been 21.7% over the past 3-5 years versus the industry average of 5%. Bottom Line Wingstop 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 #1 because of the positive earnings estimate revisions. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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479183a1-9ca5-4e0a-9e01-f20dec4d76cc
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715071.0
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2023-12-01 00:00:00 UTC
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Is CBOE (CBOE) a Solid Growth Stock? 3 Reasons to Think "Yes"
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DCOMP
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https://www.nasdaq.com/articles/is-cboe-cboe-a-solid-growth-stock-3-reasons-to-think-yes-0
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nan
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nan
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Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
CBOE Global (CBOE) 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 holding company for the Chicago Board Options Exchange is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings Growth
Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. 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 CBOE is 10.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 9.3% this year, crushing the industry average, which calls for EPS growth of 7.3%.
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 CBOE is 67.4%, which is higher than many of its peers. In fact, the rate compares to the industry average of 2.1%.
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 19.4% over the past 3-5 years versus the industry average of 12.2%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for CBOE. The Zacks Consensus Estimate for the current year has surged 2.4% over the past month.
Bottom Line
While the overall earnings estimate revisions have made CBOE 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 positions CBOE well for outperformance, so growth investors may want to bet on it.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company's annualized cash flow growth rate has been 19.4% over the past 3-5 years versus the industry average of 12.2%. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Bottom Line While the overall earnings estimate revisions have made CBOE 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. Click to get this free report Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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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 holding company for the Chicago Board Options Exchange is a great growth pick right now, we have highlighted three of the most important factors below: Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. Bottom Line While the overall earnings estimate revisions have made CBOE 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.
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CBOE Global (CBOE) is on the list of such stocks currently recommended by our proprietary system. The company's annualized cash flow growth rate has been 19.4% over the past 3-5 years versus the industry average of 12.2%. This combination positions CBOE well for outperformance, so growth investors may want to bet on it.
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41e519a8-b29e-4fc0-8b1c-a3d209955df8
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715072.0
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2023-12-01 00:00:00 UTC
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3 Reasons Growth Investors Will Love Modine (MOD)
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DCOMP
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https://www.nasdaq.com/articles/3-reasons-growth-investors-will-love-modine-mod
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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.
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, 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, makes it pretty easy to find cutting-edge growth stocks.
Modine (MOD) 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 for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
Here are three of the most important factors that make the stock of this heating and cooling products maker a great growth pick right now.
Earnings Growth
Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. 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 Modine is 12.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 55.6% this year, crushing the industry average, which calls for EPS growth of 29.3%.
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 Modine is 31.7%, which is higher than many of its peers. In fact, the rate compares to the industry average of 4.8%.
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 0.3% over the past 3-5 years versus the industry average of -0.4%.
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 Modine have been revising upward. The Zacks Consensus Estimate for the current year has surged 5.4% over the past month.
Bottom Line
Modine 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 #1 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 positions Modine well for outperformance, so growth investors may want to bet on it.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Modine Manufacturing Company (MOD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company's annualized cash flow growth rate has been 0.3% over the past 3-5 years versus the industry average of -0.4%. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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However, 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, makes it pretty easy to find cutting-edge growth stocks. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Click to get this free report Modine Manufacturing Company (MOD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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However, 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, makes it pretty easy to find cutting-edge growth stocks. 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.
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The company's annualized cash flow growth rate has been 0.3% over the past 3-5 years versus the industry average of -0.4%. Bottom Line Modine 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 #1 because of the positive earnings estimate revisions. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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2023-12-01 00:00:00 UTC
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4 Industrial Services Stocks to Watch Amid Industry-Wide Challenges
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https://www.nasdaq.com/articles/4-industrial-services-stocks-to-watch-amid-industry-wide-challenges
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The Zacks Industrial Services industry is bearing the brunt of the contraction in order levels, as customers remain cautious about spending. Supply-chain constraints and flared-up input costs have added to its woes.
Despite this current setback, the rise in e-commerce activities will be a key catalyst for the industry. Companies like Siemens SIEGY, W.W. Grainger, Inc. GWW, Andritz ADRZY and Global Industrial Company GIC are poised to deliver growth, backed by their initiatives to capitalize on this demand and efforts to gain market share. The companies have also been improving their productivity and efficiency to improve margins.
About the Industry
The Zacks Industrial Services industry comprises companies that provide industrial equipment products and MRO (maintenance, repair and operations) services. It includes routine maintenance work, emergency maintenance and spare part inventory control, which keep a facility and its equipment in good operating condition. Industry participants serve various customers, ranging from commercial, government and healthcare to manufacturing. The industry's products (power tools, hand tools, cutting fluids, lubricants, personal protective equipment and consumables) are utilized in production and plant maintenance. They are not directly related to customers’ core products or services. These companies reduce MRO supply-chain costs and improve customers' plant floor productivity by offering inventory management, and process and procurement solutions.
Trends Shaping the Future of the Industrial Services Industry
Contraction in Manufacturing Activity a Concern: Around 70% of the industry’s revenues are derived from sales in the manufacturing sector. Customer activity trends are historically correlated to changes in the Industrial Production Index. Per the Federal Reserve’s latest update, industrial production dipped 0.6% in October 2023, with manufacturing output falling 0.7%. Overall, industrial production has slipped 0.7% over the 12 months ended October 2023. The index for durable goods manufacturing was down 1.3% in October, registering a 1.6% decline in the 12 months ended October 2023. The Institute for Supply Management’s manufacturing index was 46.7% in October, contracting for the 12th month in a row. The average for the 12 months ended October 2023 is 47.4%. Customers have been curbing their spending amid the ongoing uncertainty in the global economy and persisting inflationary trends. The New Orders Index was 45.5% in October, languishing in the contraction territory for 14 months. Companies are still managing outputs appropriately as order softness continues. The industry has also been bearing the brunt of supply-chain issues. Some industry players have recently noted that supply-chain issues are easing. However, the delivery of goods from suppliers to manufacturing organizations has improved lately.
Pricing Actions to Combat High Costs: The industry has been experiencing significant inflation levels, including higher labor, freight and fuel prices. The companies are witnessing labor shortages for some positions and incurring steep labor costs to meet demand. The industry players are focusing on pricing actions, cost-cutting measures, efforts to improve productivity and efficiency, and the diversification of the supplier base to mitigate some of these headwinds.
E-commerce A Key Catalyst: MRO demand is significantly impacted by the evolution of e-commerce. Customers’ demand for highly tailored solutions, with real-time access to information and rapid delivery of products, is rising. Customers want to execute their business activities in the most efficient way possible, which often means online. The pandemic provided a significant push in e-commerce activities. In 2022, global retail e-commerce sales amounted to $5.7 trillion. Per Statista, the same is expected to see a CAGR of 9.3% over 2022-2027 and reach $8.15 trillion in 2027. In 2022, e-commerce accounted for nearly 19% of retail sales worldwide and is expected to be 25% by 2027. To capitalize on this trend, industrial services companies are heavily investing in improving their digital capabilities and increasing their share in e-commerce.
Zacks Industry Rank Indicates Dull Prospects
The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bleak prospects in the near term. The Zacks Industrial Services Industry, an 18-stock group within the broader Zacks Industrial Products sector, currently carries a Zacks Industry Rank #156, which places it in the bottom 38% of 250 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.
Before we present a few Industrial services stocks that investors can add to their portfolio, it is worth looking at the industry’s stock-market performance and valuation picture.
Industry Vs. Broader Market
The Industrial Services industry has underperformed the Zacks S&P 500 composite but beat its sector over the past year.
Over this period, the industry has risen 8.7% compared with the sector’s growth of 0.7%. The Zacks S&P 500 composite has moved up 12%.
One-Year Price Performance
Industrys Current Valuation
Based on the forward 12-month EV/EBITDA ratio, a commonly used multiple for valuing Industrial Services companies, we see that the industry is currently trading at 21.79X compared with the S&P 500’s 10.92X and the Industrial Products sector’s forward 12-month EV/EBITDA of 15.43X. This is shown in the charts below.
Enterprise Value/EBITDA (EV/EBITDA) F12M Ratio
Enterprise Value/EBITDA (EV/EBITDA) F12M Ratio
Over the last five years, the industry traded as high as 33.49X and as low as 6.04X, with the median being 13.24X.
4 Industrial Services Stocks to Keep an Eye on
Global Industrial Company: The company reported an 18.8% year-over-year improvement in revenues in the third quarter of 2023 and resumed organic revenue growth in the quarter. The top-line performance was led by the company’s e-commerce channel, as recent investments and actions to drive digital transformation and enhance the online shopping experience are bearing fruit. The company’s results have also benefitted from the acquisition of Indoff, which was completed in May 2023. Indoff is a strategic fit for Global Industrial's business and multi-channel sales model. Indoff's network of more than 350 sales partners extends GIC’s sales reach to new customers and markets. The company also generated a strong cash flow from operations and fully paid off the outstanding balance on the credit facility in the third quarter. The company has been making investments in growth, productivity initiatives, web and direct sales channels to strengthen its competitive position. It has recently been awarded a Vizient contract for floor cleaning equipment, which significantly enhances its healthcare market presence. GIC shares have gained 3.5% in the past three months.
Port Washington, NY-based Global Industrial operates as a value-added industrial distributor of industrial and MRO products in North America. The Zacks Consensus Estimate for fiscal 2023 earnings indicates growth of 8.8% from the year-ago actuals. The estimate has moved up 2% over the past 30 days. GIC has a trailing four-quarter earnings surprise of 8.6% on average. The company currently sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Price: GIC
Andritz: The company delivered strong year-over-year growth in revenues (aided by growth in all four business areas), earnings and net income in third-quarter 2023. Order intake increased in the business areas of Hydro, Metals and Separation. After entering the green hydrogen market with its first engineering order in the second quarter of 2023, the company booked its first order for the supply of a complete green hydrogen plant in the third quarter. Given that the company offers a broad product portfolio of sustainable solutions (renewable energy, recycling, biofuels, etc.) that customers need to achieve their ESG goals, the solid and sustained demand from this sector is aiding the company’s growth. The company’s shares have appreciated 3% over the past three months.
Headquartered in Graz, Austria, Andritz offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for many different industries and end markets. The Zacks Consensus Estimate for ADRZY’s fiscal 2023 earnings indicates growth of 24% from the year-ago period. The estimate has been unchanged over the past 30 days. ADRZY carries a Zacks Rank #2 (Buy) at present.
Price: ADRZY
Siemens: The company reported strong fiscal 2023 results (ended Sep 30, 2023), delivering multiple records. Revenues for the year rose 11% on a comparable basis, backed by order growth of 7%. The Industrial business’ profit and margin surged to the highest levels and the company’s net income also hit a historic high. The free cash flow for Siemens Group was another record. The Digital business continues to grow rapidly and rose 12% in fiscal 2023, enabling the company to outperform its average annual growth of 10%. SIEGY ended the fiscal year with a record backlog, which will support its top-line growth in fiscal 2024. All its segments are expected to witness growth in fiscal 2024. The Industrial Business is expected to continue its profitable growth. In Digital Industries, global demand in the automation businesses, particularly in China, will pick up in the second half of the fiscal year. SIEGY has been capturing market share and witnessing continued strong demand for its hardware and software. This has been instrumental in the 13% gain in its share price over the past three months.
Munich, Germany-based Siemens is a technology group focused on the areas of automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, smart mobility solutions for rail transport, and medical technology and digital healthcare services. The Zacks Consensus Estimate for the company’s fiscal 2024 earnings has been revised 2% upward in the past 30 days. The consensus mark indicates year-over-year growth of 1%. The company currently has a long-term estimated earnings growth rate of 5.5% and a Zacks Rank #3 (Hold).
Price: SIEGY
Grainger: The company continues to deliver improved results, aided by margin improvement in the High-Touch Solutions North America (N.A.) and Endless Assortment segments, and a solid operating performance. GWW is well-poised to gain from efforts to increase its customer base through incremental marketing investments and effective marketing strategies. The High Touch Solutions North America (N.A.) segment will continue to benefit from pricing actions and volume growth. The Endless Assortment segment is gaining from customer acquisitions at its MonotaRO business Cost-control measures undertaken by GWW will sustain margins. The company also focuses on improving the end-to-end customer experience by investing in its e-commerce and digital capabilities and executing improvement initiatives within its supply chain. Its shares gained 10.6% in the last three months.
Lake Forest, IL-based Grainger is a broad-line, business-to-business distributor of MRO supplies, and other related products and services. The Zacks Consensus Estimate for 2023 earnings has inched up 0.3% in the past 30 days. The consensus mark indicates growth of 22.6% from the year-ago quarter’s reported number. GWW currently has a trailing four-quarter earnings surprise of 6.2%, on average. GWW has an estimated long-term earnings growth rate of 13% and a Zacks Rank #3 at present.
Price: GWW
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Siemens AG (SIEGY) : Free Stock Analysis Report
W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report
Global Industrial Company (GIC) : Free Stock Analysis Report
Andritz (ADRZY) : 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 industry players are focusing on pricing actions, cost-cutting measures, efforts to improve productivity and efficiency, and the diversification of the supplier base to mitigate some of these headwinds. The top-line performance was led by the company’s e-commerce channel, as recent investments and actions to drive digital transformation and enhance the online shopping experience are bearing fruit. Headquartered in Graz, Austria, Andritz offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for many different industries and end markets.
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Companies like Siemens SIEGY, W.W. Grainger, Inc. GWW, Andritz ADRZY and Global Industrial Company GIC are poised to deliver growth, backed by their initiatives to capitalize on this demand and efforts to gain market share. The Zacks Industrial Services Industry, an 18-stock group within the broader Zacks Industrial Products sector, currently carries a Zacks Industry Rank #156, which places it in the bottom 38% of 250 Zacks industries. Click to get this free report Siemens AG (SIEGY) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report Global Industrial Company (GIC) : Free Stock Analysis Report Andritz (ADRZY) : Free Stock Analysis Report To read this article on Zacks.com click here.
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About the Industry The Zacks Industrial Services industry comprises companies that provide industrial equipment products and MRO (maintenance, repair and operations) services. The Zacks Industrial Services Industry, an 18-stock group within the broader Zacks Industrial Products sector, currently carries a Zacks Industry Rank #156, which places it in the bottom 38% of 250 Zacks industries. Industrys Current Valuation Based on the forward 12-month EV/EBITDA ratio, a commonly used multiple for valuing Industrial Services companies, we see that the industry is currently trading at 21.79X compared with the S&P 500’s 10.92X and the Industrial Products sector’s forward 12-month EV/EBITDA of 15.43X.
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About the Industry The Zacks Industrial Services industry comprises companies that provide industrial equipment products and MRO (maintenance, repair and operations) services. The Zacks Industrial Services Industry, an 18-stock group within the broader Zacks Industrial Products sector, currently carries a Zacks Industry Rank #156, which places it in the bottom 38% of 250 Zacks industries. Industry Vs.
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2023-12-01 00:00:00 UTC
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Stericycle (SRCL) Stock Rises 13% in a Month: Here's How
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DCOMP
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https://www.nasdaq.com/articles/stericycle-srcl-stock-rises-13-in-a-month%3A-heres-how
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Stericycle, Inc. SRCL shares have had an impressive run in the past month. The stock has gained 13.1%, significantly outperforming the 2.7% increase of the industry it belongs to and the 5.3% rise of the Zacks S&P 500 composite.
Reasons for the Upside
The services that Stericycle provides usually cannot be delayed and are required on a scheduled basis, allowing the company to achieve a steady flow of revenues. It has strong customer relationships, most of which include long-term contracts ranging from three to five years. This enables it to maintain a revenue retention rate of around 90%.
Stericycle, Inc. Price
Stericycle, Inc. price | Stericycle, Inc. Quote
Stericycle has progressed well with its key objectives of the program, including improving the quality of revenues, driving operational efficiency through work measurement, asset optimization, technology, strategic sourcing, portfolio rationalization through divestitures, debt reduction and leverage improvement and ERP implementation.
SRCL is likely to benefit from ongoing trends, such as increasing environmental concerns, rapid industrialization, an improvement in population and active government measures to reduce illegal dumping.
Zacks Rank and Stocks to Consider
Stericycle currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the broader Business Service sector.
Rollins ROL currently carries a Zacks Rank #2 (Buy). For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents per share, indicating year-over-year growth of 17.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%.
FTI Consulting FCN also carries a Zacks Rank of 2. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Stericycle, Inc. (SRCL) : Free Stock Analysis Report
FTI Consulting, Inc. (FCN) : Free Stock Analysis Report
Rollins, Inc. (ROL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reasons for the Upside The services that Stericycle provides usually cannot be delayed and are required on a scheduled basis, allowing the company to achieve a steady flow of revenues. SRCL is likely to benefit from ongoing trends, such as increasing environmental concerns, rapid industrialization, an improvement in population and active government measures to reduce illegal dumping. For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents per share, indicating year-over-year growth of 17.7%.
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For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents per share, indicating year-over-year growth of 17.7%. ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%. Click to get this free report Stericycle, Inc. (SRCL) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Stericycle, Inc. Price Stericycle, Inc. price | Stericycle, Inc. Quote Stericycle has progressed well with its key objectives of the program, including improving the quality of revenues, driving operational efficiency through work measurement, asset optimization, technology, strategic sourcing, portfolio rationalization through divestitures, debt reduction and leverage improvement and ERP implementation. Zacks Rank and Stocks to Consider Stericycle currently carries a Zacks Rank #3 (Hold). Click to get this free report Stericycle, Inc. (SRCL) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents per share, indicating year-over-year growth of 17.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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2023-12-01 00:00:00 UTC
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Wells Fargo (WFC) Aided by Cost Control, Hurt by Lower Revenues
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https://www.nasdaq.com/articles/wells-fargo-wfc-aided-by-cost-control-hurt-by-lower-revenues
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Wells Fargo & Company WFC has been benefiting from a strong deposit balance, a robust credit position and a solid liquidity profile. The company’s cost-efficiency initiatives might also support bottom-line growth in the upcoming period. Yet, declining revenues due to volatile fee income is a headwind. Lower loan balance due to asset cap and declining mortgage banking income are other major drags.
Wells Fargo continues to build on its deposit base, which witnessed a three-year (ended 2022) compound annual growth rate (CAGR) of 1.5%. However, the metric declined in the first nine months of 2023 mainly due to customers allocating cash to higher-yielding alternatives. Nonetheless, the considerable strength in the consumer business and commercial banking segments will likely support the deposit balance in the upcoming period.
The big bank’s prudent expense management initiatives support its financials. Expenses witnessed a negative CAGR of 0.5% over the last three years (ended 2022). The declining trend continued in the first nine months of 2023. Expense reduction efforts, such as streamlining organizational structure, closing branches and reducing headcount undertaken from third-quarter 2020, have been aiding expense management. The company expects to continue with these efficiency initiatives in 2023. Such efforts are likely to support bottom-line growth.
As of Sep 30, 2023, Wells Fargo’s total debt (comprising long-term debt and short-term borrowings) was $283.36 billion. The company has a strong liquidity position, with a liquidity coverage ratio of 123% as of third-quarter 2023 end, which has been above its regulatory minimum of 100%. It also maintains long-term issuer investment-grade credit ratings of A+, A1 and BBB+ from Fitch, Moody’s and S&P Global, respectively.
Thus, with a solid credit profile and liquidity position, Wells Fargo will be able to meet its near-term debt obligations, even if the economic situation worsens.
Given decent liquidity, the company’s capital deployment activities seem sustainable. Following the clearance of the 2023 stress test, the company increased its dividend by 16.7% to 35 cents per share in July. Also, as of the third-quarter end, it had $29 billion authorization remaining under its share repurchase plan.
However, revenue growth has become challenging for Wells Fargo. Revenues witnessed a negative CAGR of 3.9% over the last four years (2018-2022). Though revenues increased in the first nine months of 2023 on elevated trading activity, the same may not be replicable in the upcoming quarters. Higher funding costs are likely to impede net interest income (NII) and revenue growth. Also, volatility in fee income continues to affect the company’s top-line performance.
Wells Fargo has been registering declines in loans over the past few years on planned run-off from non-strategic/liquidating portfolios. With the asset cap remaining in place until it complies fully with regulators’ demands regarding compliance and operational risk management, Wells Fargo’s loan balance is not likely to improve much. This will, thereby, hamper NII growth.
Wells Fargo’s mortgage banking activities consist of residential and commercial mortgage originations, sales and servicing. Mortgage banking income saw a three-year (ended 2022) negative CAGR of 20.1%, with the decline continuing in the first nine months of 2023.
At the beginning of the year, the company announced its exit from the Correspondent business and the reduction of its mortgage servicing portfolio. This, along with high mortgage rates and low originations, is likely to affect mortgage banking income in the upcoming quarters.
Over the past year, WFC shares have declined 2.4% compared with the industry’s fall of 4.3%.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Stocks to Consider
A couple of other top-ranked stocks from the banking space are JPMorgan Chase & Co. JPM and Peoples Bancorp PEBO.
JPM currently carries sports a Zacks Rank #1. Its earnings estimates for 2023 have been unrevised over the past 30 days. In the past six months, JPM shares have improved 11.6%.
Earnings estimates for PEBO have been unrevised for 2023 over the past 30 days. Shares of PEBO have rallied 7% in the past six months. PEBO currently carries a Zacks Rank #2.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wells Fargo & Company (WFC) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Peoples Bancorp Inc. (PEBO) : 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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Wells Fargo & Company WFC has been benefiting from a strong deposit balance, a robust credit position and a solid liquidity profile. Thus, with a solid credit profile and liquidity position, Wells Fargo will be able to meet its near-term debt obligations, even if the economic situation worsens. With the asset cap remaining in place until it complies fully with regulators’ demands regarding compliance and operational risk management, Wells Fargo’s loan balance is not likely to improve much.
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Lower loan balance due to asset cap and declining mortgage banking income are other major drags. Thus, with a solid credit profile and liquidity position, Wells Fargo will be able to meet its near-term debt obligations, even if the economic situation worsens. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Peoples Bancorp Inc. (PEBO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Mortgage banking income saw a three-year (ended 2022) negative CAGR of 20.1%, with the decline continuing in the first nine months of 2023. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Peoples Bancorp Inc. (PEBO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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However, revenue growth has become challenging for Wells Fargo. Mortgage banking income saw a three-year (ended 2022) negative CAGR of 20.1%, with the decline continuing in the first nine months of 2023. In the past six months, JPM shares have improved 11.6%.
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2023-12-01 00:00:00 UTC
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Best & Worst ETFs of November
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https://www.nasdaq.com/articles/best-worst-etfs-of-november
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Wall Street has witnessed an impressive surge in November. Specifically, the S&P 500 has surged by 8.5% past month, and the Nasdaq Composite Index has seen a substantial rise of nearly 11%. Furthermore, the Dow Jones has achieved a 7.2% increase in November, marking its best month in about a year. The Russell 2000 was also not far behind as it scored 5.6% gains past month. The gains were broad-based and well spread out across various segments.
The technology sector has led the month with about 13% gains, while the energy sector has been a laggard, losing 2.3%. The bets that the Fed rates have peaked resulted in this surge in the markets. As the growth sectors like technology relies on borrowing for superior growth, these outperform in a low-rate environment.
Further, better-than-expected earnings added to the strength. The overall Q3 earnings picture remains stable and largely positive. The third-quarter reporting cycle is on track to record year-over-year earnings growth after three back-to-back quarters of earnings decline.
The Personal Consumption Expenditures (PCE) Index grew 3% year over year for the month of October, down from 3.4% in September and in line with expectations. "Core" PCE, which bars the volatile food and energy categories, grew 3.5%, down from 3.7% from the month prior and also in line with what economists surveyed by Bloomberg had expected. This was yet another good news for the month.
Upbeat consumer confidence is another reason for the uptick in the markets. Americans have spent by a record figure this year over the five-day Thanksgiving weekend lured by significant discounts across various categories, including beauty products, toys and electronics.
According to a survey by the National Retail Federation (“NRF”), more than 200 million shoppers engaged in in-store and online purchases over the Thanksgiving weekend (Thanksgiving Day through Cyber Monday). This represents about 2% growth from the previous year and an increase from the NRF's initial estimates of 182 million.
Against this backdrop, below we highlight a few winning & losing ETFs of November.
Winning ETFs in Focus
Breakwave Dry Bulk Shipping ETF BDRY – Up 83.4%
The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. The expense ratio of the fund is 3.50%.
ARK Innovation ETF ARKK – Up 37.5%
ARKK is an actively managed Exchange Traded Fund that seeks long-term growth of capital by investing under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the Fund’s investment theme of disruptive innovation. The fund charges 75 bps in fees.
ARK Fintech Innovation ETF ARKF – Up 36.6%
ARKF is an actively managed Exchange Traded Fund that seeks long-term growth of capital. It seeks to achieve this investment objective by investing under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity securities of companies that are engaged in the Fund’s investment theme of financial technology (“Fintech”) innovation. It charges 75 bps in fees.
Global X Blockchain ETF BKCH – Up 36.6%
The underlying Solactive Blockchain Index provides exposure to companies that are positioned to benefit from further advances in the field of blockchain technology. The fund charges 50 bps in fees.
Losing ETFs in Focus
Simplify Tail Risk Strategy ETF (CYA) – Down 89.8%
This ETF is active and does not track a benchmark. The Simplify Tail Risk Strategy ETF seeks to provide investors with a standalone solution for hedging diversified portfolios against severe equity market selloffs. The fund charges 84 bps in fees.
KraneShares Global Carbon Offset Strategy ETF KSET – Down 35.3%
The KraneShares Global Carbon Offset Strategy ETF provides broad coverage of the voluntary carbon market by tracking carbon offset futures contracts. The fund charges 79 bps in fees.
iPath Series B S&P 500 VIX Short-Term Futures ETN VXX – Down 35.2%
The underlying S&P 500 VIX Short-Term Futures Index Total Return offers exposure to a daily rolling long position in the first and second month VIX futures contracts and reflects views of the future direction of the VIX index at the time of expiration of the VIX futures contracts comprising the Index. The fund charges 89 bps in fees.
United States Natural Gas ETF (UNG) – Down 23.5%
The Natural Gas Price Index is the futures contract on natural gas as traded on the NYMEX. The expense ratio of the fund is 1.06%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX): ETF Research Reports
ARK Innovation ETF (ARKK): ETF Research Reports
United States Natural Gas ETF (UNG): ETF Research Reports
Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports
ARK Fintech Innovation ETF (ARKF): ETF Research Reports
Global X Blockchain ETF (BKCH): ETF Research Reports
Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports
KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports
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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"Core" PCE, which bars the volatile food and energy categories, grew 3.5%, down from 3.7% from the month prior and also in line with what economists surveyed by Bloomberg had expected. Americans have spent by a record figure this year over the five-day Thanksgiving weekend lured by significant discounts across various categories, including beauty products, toys and electronics. The Simplify Tail Risk Strategy ETF seeks to provide investors with a standalone solution for hedging diversified portfolios against severe equity market selloffs.
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Winning ETFs in Focus Breakwave Dry Bulk Shipping ETF BDRY – Up 83.4% The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. ARK Innovation ETF ARKK – Up 37.5% ARKK is an actively managed Exchange Traded Fund that seeks long-term growth of capital by investing under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the Fund’s investment theme of disruptive innovation. Click to get this free report iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX): ETF Research Reports ARK Innovation ETF (ARKK): ETF Research Reports United States Natural Gas ETF (UNG): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports ARK Fintech Innovation ETF (ARKF): ETF Research Reports Global X Blockchain ETF (BKCH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports To read this article on Zacks.com click here.
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ARK Innovation ETF ARKK – Up 37.5% ARKK is an actively managed Exchange Traded Fund that seeks long-term growth of capital by investing under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the Fund’s investment theme of disruptive innovation. iPath Series B S&P 500 VIX Short-Term Futures ETN VXX – Down 35.2% The underlying S&P 500 VIX Short-Term Futures Index Total Return offers exposure to a daily rolling long position in the first and second month VIX futures contracts and reflects views of the future direction of the VIX index at the time of expiration of the VIX futures contracts comprising the Index. Click to get this free report iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX): ETF Research Reports ARK Innovation ETF (ARKK): ETF Research Reports United States Natural Gas ETF (UNG): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports ARK Fintech Innovation ETF (ARKF): ETF Research Reports Global X Blockchain ETF (BKCH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports To read this article on Zacks.com click here.
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Losing ETFs in Focus Simplify Tail Risk Strategy ETF (CYA) – Down 89.8% This ETF is active and does not track a benchmark. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research? Click to get this free report iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX): ETF Research Reports ARK Innovation ETF (ARKK): ETF Research Reports United States Natural Gas ETF (UNG): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports ARK Fintech Innovation ETF (ARKF): ETF Research Reports Global X Blockchain ETF (BKCH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports KraneShares Global Carbon Offset Strategy ETF (KSET): ETF Research Reports To read this article on Zacks.com click here.
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2023-12-01 00:00:00 UTC
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Southwest and its pilot union near preliminary labor deal - CNBC
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https://www.nasdaq.com/articles/southwest-and-its-pilot-union-near-preliminary-labor-deal-cnbc
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Adds background throughout
Dec 1 (Reuters) - Southwest Airlines LUV.N and its pilots union are nearing a new contract which will increase pay for over 11,000 pilots and conclude months of negotiations ahead of the upcoming holiday travel season, CNBC reported on Friday.
Southwest and the pilots union did not immediately respond to Reuters' requests for comment.
North American pilots and flight attendants are pushing for better pay and working conditions during their talks over new job contracts with company management.
Unions across several sectors such as auto, entertainment and healthcare industries in the United States have taken a tough stance in fighting for better pay and contracts.
(Reporting by Pratyush Thakur in Bengaluru; Editing by Anil D'Silva and Krishna Chandra Eluri)
((pratyush.thakur@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds background throughout Dec 1 (Reuters) - Southwest Airlines LUV.N and its pilots union are nearing a new contract which will increase pay for over 11,000 pilots and conclude months of negotiations ahead of the upcoming holiday travel season, CNBC reported on Friday. North American pilots and flight attendants are pushing for better pay and working conditions during their talks over new job contracts with company management. Unions across several sectors such as auto, entertainment and healthcare industries in the United States have taken a tough stance in fighting for better pay and contracts.
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Adds background throughout Dec 1 (Reuters) - Southwest Airlines LUV.N and its pilots union are nearing a new contract which will increase pay for over 11,000 pilots and conclude months of negotiations ahead of the upcoming holiday travel season, CNBC reported on Friday. Southwest and the pilots union did not immediately respond to Reuters' requests for comment. Unions across several sectors such as auto, entertainment and healthcare industries in the United States have taken a tough stance in fighting for better pay and contracts.
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Adds background throughout Dec 1 (Reuters) - Southwest Airlines LUV.N and its pilots union are nearing a new contract which will increase pay for over 11,000 pilots and conclude months of negotiations ahead of the upcoming holiday travel season, CNBC reported on Friday. North American pilots and flight attendants are pushing for better pay and working conditions during their talks over new job contracts with company management. (Reporting by Pratyush Thakur in Bengaluru; Editing by Anil D'Silva and Krishna Chandra Eluri) ((pratyush.thakur@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds background throughout Dec 1 (Reuters) - Southwest Airlines LUV.N and its pilots union are nearing a new contract which will increase pay for over 11,000 pilots and conclude months of negotiations ahead of the upcoming holiday travel season, CNBC reported on Friday. Southwest and the pilots union did not immediately respond to Reuters' requests for comment. North American pilots and flight attendants are pushing for better pay and working conditions during their talks over new job contracts with company management.
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a6812bbe-36fe-416a-90c0-4563a39000a2
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715078.0
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2023-12-01 00:00:00 UTC
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Royal Bank of Canada (RY) Stock Gains as Q4 Earnings Rise Y/Y
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https://www.nasdaq.com/articles/royal-bank-of-canada-ry-stock-gains-as-q4-earnings-rise-y-y
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Shares of Royal Bank of Canada RY have gained 3.5% on the NYSE following the release of its fiscal fourth-quarter and 2023 (ended Oct 31) results. Adjusted net income of C$3.97 billion ($2.92 billion) marginally increased from the prior-year quarter.
Results were aided by an improvement in revenues. However, higher expenses and provisions were the undermining factors. In the reported quarter, the company’s capital ratios improved.
Revenues Improve, Expenses Rise
Total revenues were C$13.03 billion ($9.59 billion), up 3.7% year over year.
Net interest income was C$6.54 billion ($4.82 billion), growing 4.1% from the prior-year quarter. Non-interest income was C$6.48 billion ($4.78 billion), which rose 3.2% year over year.
Non-interest expenses were C$8.14 billion ($6 billion), up 13% year over year.
The company’s provision for credit losses was C$720 million ($530.3 million), up 89% from the year-ago quarter.
As of Oct 31, 2023, Royal Bank of Canada’s total loans were C$857.78 billion ($631.72 billion), up 2.1% from the prior quarter. Deposits totaled C$1.23 trillion ($0.91 trillion), up 1.3% sequentially. Total assets were C$2 trillion ($1.47 trillion), up 2.4%.
Capital Ratios Improve
As of Oct 31, 2023, Royal Bank of Canada’s Tier 1 capital ratio was 15.7%, up from the prior-year quarter’s 13.8%. Total capital ratio was 17.6%, up from 15.4%.
The company’s Common Equity Tier 1 ratio was 14.5%, up from 12.6% in the prior-year quarter.
Our View
Improvement in loan balances, higher rates and a diversified product mix will likely keep driving Royal Bank of Canada’s organic growth. However, higher provisions on the uncertain economic outlook are major near-term concerns.
Royal Bank Of Canada Price, Consensus and EPS Surprise
Royal Bank Of Canada price-consensus-eps-surprise-chart | Royal Bank Of Canada Quote
Royal Bank of Canada currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Canadian Banks
Toronto-Dominion Bank TD reported fiscal fourth-quarter and 2023 (ended Oct 31) results. Quarterly adjusted net income of C$3.51 billion ($2.58 billion) decreased 13.8% from the prior-year quarter.
Results were adversely impacted by higher expenses and a rise in provision for credit losses. Nonetheless, a rise in adjusted revenues and a strong balance sheet position acted as tailwinds during the quarter.
The Bank of Nova Scotia BNS reported fiscal fourth-quarter (ended Oct 31) and fiscal 2023 results. Adjusted net income was C$1.67 billion ($1.23 billion), which declined 36% year over year. Results excluded certain one-time items.
A rise in expenses, a significant surge in provisions for credit losses and a lower loan balance hurt the results. However, higher non-interest income, net interest income and solid capital ratios were tailwinds.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report
Royal Bank Of Canada (RY) : Free Stock Analysis Report
Bank of Nova Scotia (The) (BNS) : 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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Shares of Royal Bank of Canada RY have gained 3.5% on the NYSE following the release of its fiscal fourth-quarter and 2023 (ended Oct 31) results. Our View Improvement in loan balances, higher rates and a diversified product mix will likely keep driving Royal Bank of Canada’s organic growth. A rise in expenses, a significant surge in provisions for credit losses and a lower loan balance hurt the results.
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Performance of Other Canadian Banks Toronto-Dominion Bank TD reported fiscal fourth-quarter and 2023 (ended Oct 31) results. The Bank of Nova Scotia BNS reported fiscal fourth-quarter (ended Oct 31) and fiscal 2023 results. Click to get this free report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report Royal Bank Of Canada (RY) : Free Stock Analysis Report Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Revenues Improve, Expenses Rise Total revenues were C$13.03 billion ($9.59 billion), up 3.7% year over year. Royal Bank Of Canada Price, Consensus and EPS Surprise Royal Bank Of Canada price-consensus-eps-surprise-chart | Royal Bank Of Canada Quote Royal Bank of Canada currently carries a Zacks Rank #4 (Sell). Click to get this free report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report Royal Bank Of Canada (RY) : Free Stock Analysis Report Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the reported quarter, the company’s capital ratios improved. Revenues Improve, Expenses Rise Total revenues were C$13.03 billion ($9.59 billion), up 3.7% year over year. As of Oct 31, 2023, Royal Bank of Canada’s total loans were C$857.78 billion ($631.72 billion), up 2.1% from the prior quarter.
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715079.0
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2023-12-01 00:00:00 UTC
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Why Is Albemarle (ALB) Down 2.7% Since Last Earnings Report?
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https://www.nasdaq.com/articles/why-is-albemarle-alb-down-2.7-since-last-earnings-report
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A month has gone by since the last earnings report for Albemarle (ALB). Shares have lost about 2.7% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Albemarle due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Albemarle's Q3 Earnings and Revenues Lag Estimates
Albemarle logged a profit of $302.5 million or $2.57 per share in the third quarter of 2023, down from a profit of $897.2 million or $7.61 per share a year ago.
Adjusted earnings in the reported quarter came in at $2.74 per share, lagging the Zacks Consensus Estimate of $3.70.
Revenues climbed roughly 10.5% year over year to $2.31 billion in the quarter. However, the metric missed the Zacks Consensus Estimate of $2.39 billion. The top line was driven by increased volumes in Energy Storage and higher pricing in Ketjen.
Segment Highlights
Sales from the Energy Storage unit surged around 20% year over year to roughly $1.7 billion. It fell short of the consensus estimate of $1.72 billion. Sales were boosted by higher volumes linked to the La Negra III/IV expansion project in Chile, output from the processing facility in Qinzhou, China, and increased tolling volumes in response to the growing demand from customers.
The Specialties segment recorded sales of $352.7 million, down around 20% year over year. It was below the consensus estimate of $385.1 million. Sales were impacted by 7% lower volumes and a 13% decline in pricing.
The Ketjen unit recorded revenues of $260.7 million in the reported quarter, up roughly 10.6% year over year. It was below the consensus estimate of $277.5 million. Sales were aided by higher prices, especially from fluid catalytic cracking and clean fuel technologies.
Financial Position
Albemarle ended the quarter with cash and cash equivalents of roughly $1.6 billion, up around 16% year over year. Long-term debt was around $3.5 billion, up around 12% year over year.
Outlook
Albemarle has revised its 2023 net sales and adjusted EBITDA outlook based on the assumption that recent lithium market pricing will persist throughout the year. The company anticipates net sales in the range of $9.5-$9.8 billion, down from the previous range of $10.4-$11.5 billion. This updated forecast reflects a projected net sales increase of 30% to 35% over the prior year, primarily attributed to the 30% to 35% volumetric growth in Energy Storage driven by new mining and conversion capacity. The adjusted EBITDA for the year is now projected to be in the range of $3.2-$3.4 billion, as opposed to the earlier estimate of $3.8-$4.4 billion.
Albemarle expects adjusted earnings per share for 2023 in the band of $21.50-$23.50, down from its earlier view of $25.00-$29.50.
The company anticipates capital expenditures of $1.9-$2.1 billion for 2023. Net cash from operations is projected to be $600-$800 million for the year.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -51.33% due to these changes.
VGM Scores
Currently, Albemarle has an average Growth Score of C, 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 B. 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 Albemarle 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
Albemarle is part of the Zacks Chemical - Diversified industry. Over the past month, Huntsman (HUN), a stock from the same industry, has gained 5.8%. The company reported its results for the quarter ended September 2023 more than a month ago.
Huntsman reported revenues of $1.51 billion in the last reported quarter, representing a year-over-year change of -25.1%. EPS of $0.15 for the same period compares with $0.71 a year ago.
Huntsman is expected to post a loss of $0.05 per share for the current quarter, representing a year-over-year change of -225%. Over the last 30 days, the Zacks Consensus Estimate has changed -132.6%.
Huntsman has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Albemarle Corporation (ALB) : Free Stock Analysis Report
Huntsman Corporation (HUN) : 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 its most recent earnings report in order to get a better handle on the important catalysts. This updated forecast reflects a projected net sales increase of 30% to 35% over the prior year, primarily attributed to the 30% to 35% volumetric growth in Energy Storage driven by new mining and conversion capacity. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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The Ketjen unit recorded revenues of $260.7 million in the reported quarter, up roughly 10.6% year over year. Outlook Albemarle has revised its 2023 net sales and adjusted EBITDA outlook based on the assumption that recent lithium market pricing will persist throughout the year. Click to get this free report Albemarle Corporation (ALB) : Free Stock Analysis Report Huntsman Corporation (HUN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Albemarle's Q3 Earnings and Revenues Lag Estimates Albemarle logged a profit of $302.5 million or $2.57 per share in the third quarter of 2023, down from a profit of $897.2 million or $7.61 per share a year ago. Financial Position Albemarle ended the quarter with cash and cash equivalents of roughly $1.6 billion, up around 16% year over year. Click to get this free report Albemarle Corporation (ALB) : Free Stock Analysis Report Huntsman Corporation (HUN) : Free Stock Analysis Report To read this article on Zacks.com click here.
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A month has gone by since the last earnings report for Albemarle (ALB). Albemarle's Q3 Earnings and Revenues Lag Estimates Albemarle logged a profit of $302.5 million or $2.57 per share in the third quarter of 2023, down from a profit of $897.2 million or $7.61 per share a year ago. Adjusted earnings in the reported quarter came in at $2.74 per share, lagging the Zacks Consensus Estimate of $3.70.
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2023-12-01 00:00:00 UTC
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Amazon (AMZN) Boosts AWS Portfolio With Amazon One Enterprise
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https://www.nasdaq.com/articles/amazon-amzn-boosts-aws-portfolio-with-amazon-one-enterprise
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Amazon's AMZN cloud computing arm — Amazon Web Services ("AWS") — continues to strengthen its services offerings in a bid to sustain its cloud dominance.
This is evident from its latest introduction of a palm-based identity and a fully managed service called Amazon One Enterprise.
The service offers accurate and secured enterprise access control through an easy-to-use biometric identification device. It is capable of delivering an accuracy rate of 99.9999% as it features a combination of palm and vein imagery for biometric matching.
Its palm-recognition technology creates a unique palm signature using advanced artificial intelligence (“AI”) and Machine Learning (“ML”). The palm signatures are related to identification credentials like a badge, employee ID or PIN.
This way, Amazon One Enterprise is capable of helping organizations boost their security and prevent them from costly security breaches.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Customer Base to Expand
We believe that the underlined service will help AWS gain strong momentum among various organizations in this data-driven world.
Customers like Boon Edam, IHG Hotels and Resorts, Paznic and KONE have already shown interest in Amazon One Enterprise.
We believe that the growing customer momentum will continue to drive AWS’ top line.
In third-quarter 2023, AWS generated revenues of $23.1 billion (16.1% of total sales), which grew 12.3% year over year.
Our model estimate for 2023 AWS revenues is projected at $92.8 billion, indicating growth of 15.8% from 2022.
The strengthening performance of AWS, which has become an integral part of Amazon, will likely instill investor optimism in the stock.
Amazon has gained 74.5% on a year-to-date basis.
Bottom Line
We believe that AWS’ strengthening clientele across the world will continue to aid Amazon in gaining a competitive edge against its strong peers like Microsoft MSFT and Alphabet's GOOGL Google.
Microsoft Azure has become Microsoft's key growth driver. The company is currently riding on the robust adoption of Azure cloud offerings. Azure's globally increasing number of availability zones and regions, along with strength in its consumption-based business, is likely to continue driving Microsoft's cloud momentum in the near term.
Similarly, Google Cloud is contributing substantial growth to Alphabet's total revenues. Expanding data centers, availability zones and cloud regions are expected to keep boosting Alphabet's cloud position.
AWS’s growing efforts toward strengthening its portfolio offerings are likely to keep it ahead of the above-mentioned peers.
Apart from Amazon One Enterprise, the company recently unveiled a generative AI-powered chatbot, Amazon Q. The AI-powered assistant provides quick answers and helps in content creation and action-taking based on a customer's information repositories, code and enterprise systems.
It introduced four new capabilities for AWS Supply Chain - AWS Supply Chain Supply Planning, AWS Supply Chain N-Tier Visibility, AWS Supply Chain Sustainability and Amazon Q in AWS Supply Chain, which are designed to boost its existing data lake, demand planning and ML-powered insights.
The company introduced AWS Graviton4 and AWS Trainium2, its next-generation two-chip families.
We believe that portfolio strength will continue to drive AWS’ customer momentum, which, in turn, will continue to fuel Amazon’s customer momentum.
Zacks Rank & Another Stock to Consider
Currently, Amazon carries a Zacks Rank #2 (Buy).
Another top-ranked stock in the broader technology sector is Badger Meter BMI. Badger Meter currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 57% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Badger Meter, Inc. (BMI) : 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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Amazon.com, Inc. Price and Consensus Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote Customer Base to Expand We believe that the underlined service will help AWS gain strong momentum among various organizations in this data-driven world. Azure's globally increasing number of availability zones and regions, along with strength in its consumption-based business, is likely to continue driving Microsoft's cloud momentum in the near term. The AI-powered assistant provides quick answers and helps in content creation and action-taking based on a customer's information repositories, code and enterprise systems.
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Amazon's AMZN cloud computing arm — Amazon Web Services ("AWS") — continues to strengthen its services offerings in a bid to sustain its cloud dominance. It introduced four new capabilities for AWS Supply Chain - AWS Supply Chain Supply Planning, AWS Supply Chain N-Tier Visibility, AWS Supply Chain Sustainability and Amazon Q in AWS Supply Chain, which are designed to boost its existing data lake, demand planning and ML-powered insights. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Amazon's AMZN cloud computing arm — Amazon Web Services ("AWS") — continues to strengthen its services offerings in a bid to sustain its cloud dominance. It introduced four new capabilities for AWS Supply Chain - AWS Supply Chain Supply Planning, AWS Supply Chain N-Tier Visibility, AWS Supply Chain Sustainability and Amazon Q in AWS Supply Chain, which are designed to boost its existing data lake, demand planning and ML-powered insights. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Amazon's AMZN cloud computing arm — Amazon Web Services ("AWS") — continues to strengthen its services offerings in a bid to sustain its cloud dominance. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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bd5a5b8c-dd37-4ecc-a76f-f9f213e67d97
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715081.0
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2023-12-01 00:00:00 UTC
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Mastercard (MA), Pluto to Enhance B2B Payments in the UAE
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https://www.nasdaq.com/articles/mastercard-ma-pluto-to-enhance-b2b-payments-in-the-uae
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Mastercard Incorporated MA recently teamed up with the UAE-based financial corporate spending management solutions provider, Pluto, to enable the widespread uptake of business-to-business (“B2B”) payment solutions across the Gulf Cooperation Council. This promises to infuse greater innovation and efficiency in the region’s B2B payments landscape.
Integral to the tie-up, Mastercard will extend a varied array of efficient and reliable payment options to Pluto’s client base. This, in turn, is expected to upgrade the solution suite of Pluto and empower it to bring about safety in payments as well as pave the way for better management of finances for businesses of all sizes.
The recent partnership reflects Mastercard’s broader motive of infusing greater digitization across the UAE and broadly, in the Middle East region. MA’s intensified focus on establishing a solid footprint in the region can be explained by its rapidly expanding digital economy, spurred by increased Internet penetration and the higher usage of smartphones. This provides a perfect ground for MA to capitalize on with its suite of advanced payment solutions that promise safe and seamless transactions for businesses.
The support of a global payment technology leader like Mastercard, whose digital arm is built with the help of partnerships and substantial technology investments, infuses a sense of confidence and security into the minds of business owners.
The tie-up with Pluto is expected to lead to increased utilization of Mastercard’s solutions. This, in turn, is likely to boost the revenues for the tech giant, which it derives from providing its value-added services and solutions suite to customers. Also, Pluto seems to be a prudent choice for Mastercard to capture a significant share of the digital payments market of the Middle East. The reason can be attributed to a remarkable expansion strategy pursued by Pluto through which its areas of operations are not just restricted to the UAE but is also set to bring Saudi Arabia and Bahrain under the radar.
Last month, Mastercard joined forces with Middle East’s leading payment processing service provider, areeba, to extend the benefits of upgraded payment platforms, such as Mastercard Card-as-a-Service and Bank-as-a-Fintech, to new market segments and demographics of the region. A few days before this, it collaborated with Saudi Awwal Bank to enable the bank to access its advanced AI-based cybersecurity technology to protect Saudi Arabia’s customers from cybercrimes and payment frauds, and subsequently, bring about safe digital transactions across the country. Such frequent moves undertaken in the Middle East reflect Mastercard’s endeavor to harness the digital growth prospects of the region.
Shares of Mastercard have gained 14.7% in the past year compared with the industry’s 11.4% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. RCMT, APi Group Corporation APG and SPS Commerce, Inc. SPSC. While RCM Technologies sports a Zacks Rank #1 (Strong Buy), APi Group and SPS Commerce carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The bottom line of RCM Technologies outpaced estimates in two of the last four quarters and missed the mark twice, the average beat being 13.28%. The Zacks Consensus Estimate for RCMT’s 2023 earnings suggests an improvement of 1% from the prior-year reported figure. The consensus mark for RCMT’s 2023 earnings has moved 11.1% north in the past 30 days.
APi Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.94%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 18.1% from the prior-year reported figure. The consensus estimate for revenues suggests growth of 6% from the prior-year reported figure. The consensus mark for APG’s 2023 earnings has moved 4.7% north in the past 30 days.
The bottom line of SPS Commerce outpaced estimates in each of the last four quarters, the average beat being 15.34%. The Zacks Consensus Estimate for SPSC’s 2023 earnings suggests an improvement of 19.2% from the prior-year reported figure. The consensus estimate for revenues suggests growth of 18.7% from the prior-year reported figure. The consensus mark for SPSC’s 2023 earnings has moved 0.4% north in the past 30 days.
Shares of RCM Technologies, APi Group and SPS Commerce have gained 83.2%, 56.6% and 18.7%, respectively, in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Mastercard Incorporated (MA) : Free Stock Analysis Report
SPS Commerce, Inc. (SPSC) : Free Stock Analysis Report
RCM Technologies, Inc. (RCMT) : Free Stock Analysis Report
APi Group Corporation (APG) : 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, in turn, is expected to upgrade the solution suite of Pluto and empower it to bring about safety in payments as well as pave the way for better management of finances for businesses of all sizes. MA’s intensified focus on establishing a solid footprint in the region can be explained by its rapidly expanding digital economy, spurred by increased Internet penetration and the higher usage of smartphones. The reason can be attributed to a remarkable expansion strategy pursued by Pluto through which its areas of operations are not just restricted to the UAE but is also set to bring Saudi Arabia and Bahrain under the radar.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. RCMT, APi Group Corporation APG and SPS Commerce, Inc. SPSC. While RCM Technologies sports a Zacks Rank #1 (Strong Buy), APi Group and SPS Commerce carry a Zacks Rank #2 (Buy). Click to get this free report Mastercard Incorporated (MA) : Free Stock Analysis Report SPS Commerce, Inc. (SPSC) : Free Stock Analysis Report RCM Technologies, Inc. (RCMT) : Free Stock Analysis Report APi Group Corporation (APG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Last month, Mastercard joined forces with Middle East’s leading payment processing service provider, areeba, to extend the benefits of upgraded payment platforms, such as Mastercard Card-as-a-Service and Bank-as-a-Fintech, to new market segments and demographics of the region. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. RCMT, APi Group Corporation APG and SPS Commerce, Inc. SPSC. Click to get this free report Mastercard Incorporated (MA) : Free Stock Analysis Report SPS Commerce, Inc. (SPSC) : Free Stock Analysis Report RCM Technologies, Inc. (RCMT) : Free Stock Analysis Report APi Group Corporation (APG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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This provides a perfect ground for MA to capitalize on with its suite of advanced payment solutions that promise safe and seamless transactions for businesses. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. RCMT, APi Group Corporation APG and SPS Commerce, Inc. SPSC. Shares of RCM Technologies, APi Group and SPS Commerce have gained 83.2%, 56.6% and 18.7%, respectively, in the past year.
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ff915d57-d452-4856-ac9c-e2d9067bcf9a
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715082.0
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2023-12-01 00:00:00 UTC
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SSR Mining (SSRM) Inks Deal to Sell San Luis Project for $43M
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DCOMP
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https://www.nasdaq.com/articles/ssr-mining-ssrm-inks-deal-to-sell-san-luis-project-for-%2443m
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SSR Mining Inc. SSRM announced that it signed a deal with Highlander Silver Corp. to sell its San Luis Project for up to $42.5 million. This move is in sync with the company’s goal of portfolio rationalization, which has resulted in more than $300 million in aggregate consideration for non-core assets since the beginning of 2021.
Located in Central Peru’s Ancash Department, San Luis is a greenfield gold and silver development project. Under the terms of the agreement, which will be issued prior to the closure of the deal, SSRM will maintain a 4% net smelter returns ("NSR") royalty on the Project.
Highlander Silver Corp. will pay $5 million in cash upfront upon the completion of the transaction. It will pay up to $37.5 million in cash contingent payments. The contingent payments are anticipated to be made in five installments, starting with the commencement of the project's initial drilling program and concluding with the second anniversary of commercial production from the Project.
The transaction is expected to close in the first quarter of 2024, subject to the completion of required regulatory approvals and certain customary closing conditions.
Based on street consensus estimates, the sale of the project is expected to be accretive to SSR Mining on a NAV per share basis.
In the third quarter of 2023, SSR Mining reported adjusted earnings of 26 cents, missing the Zacks Consensus Estimate of 27 cents. It reported an adjusted loss of 7 cents in the year-ago quarter.
The company came out with quarterly revenues of $385 million, up from $167 million in the third quarter of 2022. However, the top line missed the Zacks Consensus Estimate of $415 million.
Price Performance
SSR Mining’s shares have lost 24% in the past year against the industry’s growth of 7%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the basic materials space are Axalta Coating Systems Ltd. AXTA, Universal Stainless & Alloy Products, Inc. USAP and The Andersons Inc. ANDE. AXTA sports a Zacks Rank #1 (Strong Buy), and USAP and ANDE each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Axalta Coating’s 2023 earnings is pegged at 44 cents per share. The consensus estimate for 2023 earnings has moved 23% north in the past 60 days. Its shares have gained 16% in a year.
Universal Stainless & Alloy Products has an average trailing four-quarter earnings surprise of 44.4%. The Zacks Consensus Estimate for USAP’s 2023 earnings is pegged at 27 cents per share. Earnings estimates have been unchanged in the past 60 days. USAP’s shares gained 136.2% in the last year.
The consensus estimate for ANDE's current-year earnings has been revised 3.3% upward over the past 60 days. Andersons beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average. ANDE shares have rallied 35.5% in a year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Andersons, Inc. (ANDE) : Free Stock Analysis Report
Universal Stainless & Alloy Products, Inc. (USAP) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
Silver Standard Resources Inc. (SSRM) : 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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SSR Mining Inc. SSRM announced that it signed a deal with Highlander Silver Corp. to sell its San Luis Project for up to $42.5 million. Located in Central Peru’s Ancash Department, San Luis is a greenfield gold and silver development project. Under the terms of the agreement, which will be issued prior to the closure of the deal, SSRM will maintain a 4% net smelter returns ("NSR") royalty on the Project.
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In the third quarter of 2023, SSR Mining reported adjusted earnings of 26 cents, missing the Zacks Consensus Estimate of 27 cents. Some better-ranked stocks from the basic materials space are Axalta Coating Systems Ltd. AXTA, Universal Stainless & Alloy Products, Inc. USAP and The Andersons Inc. ANDE. Click to get this free report The Andersons, Inc. (ANDE) : Free Stock Analysis Report Universal Stainless & Alloy Products, Inc. (USAP) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In the third quarter of 2023, SSR Mining reported adjusted earnings of 26 cents, missing the Zacks Consensus Estimate of 27 cents. Image Source: Zacks Investment Research Zacks Rank & Stocks to Consider The company currently carries a Zacks Rank #4 (Sell). Click to get this free report The Andersons, Inc. (ANDE) : Free Stock Analysis Report Universal Stainless & Alloy Products, Inc. (USAP) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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SSR Mining Inc. SSRM announced that it signed a deal with Highlander Silver Corp. to sell its San Luis Project for up to $42.5 million. The company came out with quarterly revenues of $385 million, up from $167 million in the third quarter of 2022. The Zacks Consensus Estimate for USAP’s 2023 earnings is pegged at 27 cents per share.
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715083.0
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2023-12-01 00:00:00 UTC
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Domo's (DOMO) Q3 Earnings Break Even, Revenues Increase Y/Y
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https://www.nasdaq.com/articles/domos-domo-q3-earnings-break-even-revenues-increase-y-y
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Domo DOMO reported third-quarter fiscal 2024 non-GAAP earnings of break-even, beating the Zacks Consensus Estimate of a loss of 12 cents. The company reported a loss of 13 cents in the year-ago quarter.
Revenues inched up 0.8% year over year to $79.7 million and surpassed the consensus mark by 0.85%.
In the reported quarter, Domo’s revenues benefited from a 1% increase in billings. The top line benefited from solid contributions from the Subscriptions segment.
Domo’s shares have fallen 28.4% year to date compared with the Zacks Internet Software industry’s rally of 57.7%. The Zacks Computer and Technology sector has risen by 45.8%.
Domo, Inc. Price, Consensus and EPS Surprise
Domo, Inc. price-consensus-eps-surprise-chart | Domo, Inc. Quote
Top-Line Details
Domo’s subscription revenues increased 3.3% year over year to $71.3 million in the reported quarter. The subscription revenues contributed 89.5% to total revenues.
Professional Services and other revenues contributed 10.5% of the total revenues. The figure was $8.4 million, down 16.1% year over year.
In the third quarter, Domo delivered billings of $74.8 million, up 1% year over year. The addition of new customers and an increase in spending by existing customers resulted in an 85% gross retention rate, which was 90% in the previous quarter.
Operating Details
In the first quarter, non-GAAP operating expenses dropped 8.3% year over year and contributed 90.5% to revenues.
Research & development expenses, as a percentage of revenues, fell 630 basis points (bps) on a year-over-year basis to 24.8%.
General & administrative expenses, as a percentage of revenues, were 15.2%, down 130 bps year over year.
Sales and marketing expenses, as a percentage of revenues, contracted 140 bps year over year to 50.5%.
Operating margin expanded 540 bps on a year-over-year basis to 6.3%.
Balance Sheet & Cash Flow
As of Oct 31, 2023, Domo had cash, cash equivalents and restricted cash of $57.4 million compared with $71.1 million as of Oct 31, 2022.
Operating cash flow was $4.3 million in the third quarter of fiscal 2024 compared with $0.6 million in the previous quarter.
Revenue Performance Obligation (RPO) as of Oct 31, 2023, increased 4% year over year to $367.2 million.
Guidance
For the third quarter of 2024, Domo expects revenues between $79 million and $80 million.
Non-GAAP net loss is expected in the range of 5 cents to 9 cents per share.
For the fiscal 2024, Domo expects revenues between $317.8 million and $318.8 million.
Non-GAAP net loss is expected between 24 cents and 28 cents per share.
Zacks Rank & Stocks to Consider
Domo currently carries a Zacks Rank #3 (Hold).
Science Applications International SAIC, Adobe ADBE, and Broadcam AVGO are some better-ranked stocks that investors from the broader Zacks Computer & Technology sector can consider. Science Applications International, Broadcam, and Adobe Sport Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Science Applications International shares have declined 5.8% year to date. Science Applications International is set to report its third-quarter fiscal 2024 results on Dec 4.
Adobe’s shares have returned 81.5% year to date. Adobe is set to report its fourth-quarter fiscal 2023 results on Dec 13.
Broadcam shares have surged 52.7% year to date. AVGO is set to report its fourth-quarter fiscal 2024 results on Dec 7.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
Science Applications International Corporation (SAIC) : Free Stock Analysis Report
Domo, Inc. (DOMO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Domo’s shares have fallen 28.4% year to date compared with the Zacks Internet Software industry’s rally of 57.7%. Science Applications International SAIC, Adobe ADBE, and Broadcam AVGO are some better-ranked stocks that investors from the broader Zacks Computer & Technology sector can consider. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Domo, Inc. Price, Consensus and EPS Surprise Domo, Inc. price-consensus-eps-surprise-chart | Domo, Inc. Quote Top-Line Details Domo’s subscription revenues increased 3.3% year over year to $71.3 million in the reported quarter. Science Applications International SAIC, Adobe ADBE, and Broadcam AVGO are some better-ranked stocks that investors from the broader Zacks Computer & Technology sector can consider. Click to get this free report Adobe Inc. (ADBE) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Science Applications International Corporation (SAIC) : Free Stock Analysis Report Domo, Inc. (DOMO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Domo, Inc. Price, Consensus and EPS Surprise Domo, Inc. price-consensus-eps-surprise-chart | Domo, Inc. Quote Top-Line Details Domo’s subscription revenues increased 3.3% year over year to $71.3 million in the reported quarter. Operating Details In the first quarter, non-GAAP operating expenses dropped 8.3% year over year and contributed 90.5% to revenues. Click to get this free report Adobe Inc. (ADBE) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Science Applications International Corporation (SAIC) : Free Stock Analysis Report Domo, Inc. (DOMO) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Domo DOMO reported third-quarter fiscal 2024 non-GAAP earnings of break-even, beating the Zacks Consensus Estimate of a loss of 12 cents. In the reported quarter, Domo’s revenues benefited from a 1% increase in billings. For the fiscal 2024, Domo expects revenues between $317.8 million and $318.8 million.
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715084.0
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2023-12-01 00:00:00 UTC
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Growth Initiatives to Aid Spectrum Brands (SPB): Stock to Gain
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https://www.nasdaq.com/articles/growth-initiatives-to-aid-spectrum-brands-spb%3A-stock-to-gain
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Spectrum Brands Holdings Inc. SPB is a stock to watch, given its progress on growth initiatives and ongoing cost-takeout plans, which position it for long-term growth. The company is anticipated to retain the strength in its balance sheet position, enabling it to invest in its business throughout fiscal 2024. Its Global Productivity Improvement Plan and strategic transformation plans remain on track.
However, slower category POS and retailers’ focus on inventory reduction hurt the top line in fourth-quarter fiscal 2023. Soft sales trends in the Home & Personal Care segment due to lower demand and inventory reduction actions were headwinds. Higher marketing and advertising investments are likely to result in elevated operating expenses.
Shares of the Zacks Rank #3 (Hold) company have gained 4% in the past year against the industry’s decline of 24.3%. SPB also compared unfavorably with the Consumer Discretionary sector’s growth of 2.6%.
Image Source: Zacks Investment Research
What Keeps Spectrum Brands Strong?
Spectrum Brands is anticipated to retain its business strength through the focus on its four core pillars to drive growth. In this regard, the company is streamlining its organizational structure and re-energizing the employee base. It is committed to improving operational efficiencies throughout and limiting risk. Management is protecting and deleveraging its balance sheet while solidifying liquidity.
The company is focused on transforming into a pure-play global Pet and Home & Garden business. As part of the strategic transformation plan, it completed the sale of HHI to ASSA ABLOY for $4.3 billion in cash on Jun 20, subject to customary purchase price adjustments. It expects $3.8 billion in net proceeds from this sale. With the sale of the HHI business, the company can refocus on its core businesses and boasts a stronger balance sheet.
Additionally, Spectrum Brands is progressing well with its Global Productivity Improvement Plan (GPIP), which aims at improving the company's operating efficiency and effectiveness, while focusing on consumer insights and growth-enabling functions, including technology, marketing, and research and development.
The majority of the savings are expected to be reinvested into growth initiatives and consumer insights, R&D, and marketing across each of the businesses. This plan will also enable the company to deliver value creation and sustainable growth in the long term.
Spectrum Brands’ results continue to reflect gains from increased pricing, cost improvements and a favorable mix. This aided margins in fourth-quarter fiscal 2023. The company has been proactive in its cost-takeout actions, implemented in the second half of fiscal 2022, including fixed cost reduction by eliminating permanently salaried headcount and reducing advertising and promotional spending. These actions helped mitigate the EBITDA decline to some extent.
The gross margin expanded 2,100 bps to 33% in fourth-quarter fiscal 2023, while gross profit improved 2% year over year. Adjusted EBITDA advanced 52% year over year in the fiscal fourth quarter. The adjusted EBITDA margin expanded 540 bps to 15.4%, driven by better gross margins and interest income.
Looking ahead, the company’s actions position it to deliver EBITDA growth across each of its business units. Moreover, SPB expects consolidated adjusted EBITDA to improve in the high-single digits in fiscal 2024.
Hurdles to Overcome
Spectrum Brands suffers from retailers’ focus on excess inventory reduction due to the difficult consumer environment, which has been impacting its results. The company witnessed slower category POS and reduced inventory stemming from retailer inventory management strategies in the fiscal fourth quarter, weighing on its top-line performance. Although sales declined in the fiscal fourth quarter, the company noted that the pace of the sales decline has slowed down considerably.
Spectrum Brands' Home & Personal Care segment has been witnessing a category decline from lower demand, particularly in kitchen appliances, and continued retailer inventory management in North America. This impacted the segment’s sales in fourth-quarter fiscal 2023. Going forward, the company expects the macro-economic environment to remain drab and result in top-line pressure, particularly in the Home and Personal Care business.
Stocks to Consider
We have highlighted three better-ranked stocks from the Consumer Discretionary sector, namely The RealReal REAL, PVH Corporation PVH and Skechers SKX.
The RealReal currently has a Zacks Rank #2 (Buy). Shares of REAL have rallied 32.1% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for REAL’s current financial year’s earnings per share suggests growth of 39.9% from the year-ago period’s reported figures. The company has a trailing four-quarter earnings surprise of 22.1%, on average.
PVH Corp has a trailing four-quarter earnings surprise of 18.9%, on average. It currently carries a Zacks Rank #2. Shares of PVH have rallied 34.1% in the past year.
The Zacks Consensus Estimate for PVH’s current financial-year sales and EPS suggests growth of 3.7% and 15.3%, respectively, from the year-ago period's reported figures.
Skechers has a trailing four-quarter earnings surprise of 50.3%, on average. It currently carries a Zacks Rank #2. Shares of SKX have gained 36.3% in the past year.
The Zacks Consensus Estimate for Skechers’ current financial-year sales and earnings suggests growth of 8.2% and 44.5%, respectively, from the year-ago period's reported figures.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
PVH Corp. (PVH) : Free Stock Analysis Report
Spectrum Brands Holdings Inc. (SPB) : Free Stock Analysis Report
The RealReal, Inc. (REAL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As part of the strategic transformation plan, it completed the sale of HHI to ASSA ABLOY for $4.3 billion in cash on Jun 20, subject to customary purchase price adjustments. The company has been proactive in its cost-takeout actions, implemented in the second half of fiscal 2022, including fixed cost reduction by eliminating permanently salaried headcount and reducing advertising and promotional spending. Spectrum Brands' Home & Personal Care segment has been witnessing a category decline from lower demand, particularly in kitchen appliances, and continued retailer inventory management in North America.
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The company witnessed slower category POS and reduced inventory stemming from retailer inventory management strategies in the fiscal fourth quarter, weighing on its top-line performance. The Zacks Consensus Estimate for REAL’s current financial year’s earnings per share suggests growth of 39.9% from the year-ago period’s reported figures. Click to get this free report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report PVH Corp. (PVH) : Free Stock Analysis Report Spectrum Brands Holdings Inc. (SPB) : Free Stock Analysis Report The RealReal, Inc. (REAL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Additionally, Spectrum Brands is progressing well with its Global Productivity Improvement Plan (GPIP), which aims at improving the company's operating efficiency and effectiveness, while focusing on consumer insights and growth-enabling functions, including technology, marketing, and research and development. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Click to get this free report Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report PVH Corp. (PVH) : Free Stock Analysis Report Spectrum Brands Holdings Inc. (SPB) : Free Stock Analysis Report The RealReal, Inc. (REAL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Shares of the Zacks Rank #3 (Hold) company have gained 4% in the past year against the industry’s decline of 24.3%. Additionally, Spectrum Brands is progressing well with its Global Productivity Improvement Plan (GPIP), which aims at improving the company's operating efficiency and effectiveness, while focusing on consumer insights and growth-enabling functions, including technology, marketing, and research and development. Adjusted EBITDA advanced 52% year over year in the fiscal fourth quarter.
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391db30d-cb1b-44c8-8a7f-9241b351b4b9
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715085.0
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2023-12-01 00:00:00 UTC
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Humana (HUM) Extends CINQCARE's Home Care Model to MA Members
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DCOMP
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https://www.nasdaq.com/articles/humana-hum-extends-cinqcares-home-care-model-to-ma-members
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nan
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nan
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Humana Inc. HUM recently collaborated with New York-based comprehensive health care services provider, CINQCARE, in a bid to benefit the health insurer’s statewide Medicare Advantage members.
The partnership will enable HUM’s eligible members access to the cutting-edge "Care at Home" model of CINQCARE. This, in turn, will provide members with beneficial care management services, comprising 24*7 assistance from nurses over the telephone and remote monitoring facilities. This model also provides a remarkable level of convenience by enabling at-home services, such as nurse and physician visits.
Therefore, the ulterior motive of the tie-up remains to provide high-quality care and bring better health outcomes for Humana’s diverse customer base in New York through its Medicare Advantage business. When the resources and expertise of two credible organizations come together, the resultant outcome can inevitably address healthcare challenges and relieve different U.S. communities from inadequate access to care.
Apart from benefiting existing members, expanding the reach of the “Care at Home” model to New York is expected to intrigue more customers to enroll in Humana’s Medicare Advantage plans. Thus, the latest move can serve as a means to boost membership growth of HUM’s Medicare business, which in turn, may boost its most significant top-line contributor, premiums. Individual Medicare Advantage premiums improved 19% year over year in the first nine months of 2023.
Humana seems to have embarked on a time-opportune collaboration as well, considering an aging U.S. population. It is of great importance to provide the medically vulnerable population with effective home-care services, assuring them to deliver improved health outcomes without the need to step out from their residence. Also, a growing home healthcare market substantiates HUM’s endeavor to capture the growth prospects of the market through its tie-up with CINQCARE.
Humana boasts a credible home solutions business, which it operates through the CenterWell segment. The acquisitions of onehome and Kindred at Home bear testament to HUM’s continuous efforts to upgrade its home-care capabilities.
Partnerships similar to the latest one are likely to add further strength to the expansion spree of the Medicare Advantage business of Humana. This October, HUM teamed up with the leading U.S. health and hospital system, Denver Health, to bring enhanced care access and convenience for its Medicare Advantage members in the Denver area.
Shares of Humana have gained 5.3% in the past three months compared with the industry’s 9.6% growth. HUM presently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Bausch Health Companies Inc. BHC, The Pennant Group, Inc. PNTG and Enovis Corporation ENOV. While Bausch Health sports a Zacks Rank #1 (Strong Buy), Pennant and Enovis carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Bausch Health’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average surprise being 0.04%. The Zacks Consensus Estimate for BHC’s 2023 earnings indicates a rise of 11.1% from the year-ago actual. The consensus mark for revenues suggests an improvement of 5.9% from the year-ago actual. The consensus mark for BHC’s 2023 earnings has moved 4% north in the past 30 days.
The bottom line of Pennant outpaced estimates in two of the last four quarters, matched the mark once and missed the same in the remaining one occasion, the average surprise being 1.11%. The Zacks Consensus Estimate for PNTG’s 2023 earnings indicates a rise of 26.3% from the prior-year figure. The consensus mark for revenues suggests an improvement of 12.3% from the prior-year figure. The consensus mark for PNTG’s 2023 earnings has moved 1.4% north in the past 30 days.
Enovis’ earnings surpassed estimates in each of the last four quarters, the average surprise being 11.01%. The Zacks Consensus Estimate for ENOV’s 2023 earnings indicates a rise of 4.9% from the year-ago actual. The consensus mark for ENOV’s 2023 earnings has moved 3.9% north in the past 30 days.
The Pennant stock has gained 13.9% in the past three months. However, shares of Bausch Health and Enovis have declined 15.6% and 12.5%, respectively, in the same time frame.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Humana Inc. (HUM) : Free Stock Analysis Report
Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report
The Pennant Group, Inc. (PNTG) : Free Stock Analysis Report
Enovis Corporation (ENOV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Therefore, the ulterior motive of the tie-up remains to provide high-quality care and bring better health outcomes for Humana’s diverse customer base in New York through its Medicare Advantage business. Apart from benefiting existing members, expanding the reach of the “Care at Home” model to New York is expected to intrigue more customers to enroll in Humana’s Medicare Advantage plans. It is of great importance to provide the medically vulnerable population with effective home-care services, assuring them to deliver improved health outcomes without the need to step out from their residence.
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Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Medical space are Bausch Health Companies Inc. BHC, The Pennant Group, Inc. PNTG and Enovis Corporation ENOV. While Bausch Health sports a Zacks Rank #1 (Strong Buy), Pennant and Enovis carry a Zacks Rank #2 (Buy) at present. Click to get this free report Humana Inc. (HUM) : Free Stock Analysis Report Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report The Pennant Group, Inc. (PNTG) : Free Stock Analysis Report Enovis Corporation (ENOV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Humana Inc. HUM recently collaborated with New York-based comprehensive health care services provider, CINQCARE, in a bid to benefit the health insurer’s statewide Medicare Advantage members. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Medical space are Bausch Health Companies Inc. BHC, The Pennant Group, Inc. PNTG and Enovis Corporation ENOV. Click to get this free report Humana Inc. (HUM) : Free Stock Analysis Report Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report The Pennant Group, Inc. (PNTG) : Free Stock Analysis Report Enovis Corporation (ENOV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Humana Inc. HUM recently collaborated with New York-based comprehensive health care services provider, CINQCARE, in a bid to benefit the health insurer’s statewide Medicare Advantage members. The partnership will enable HUM’s eligible members access to the cutting-edge "Care at Home" model of CINQCARE. Image Source: Zacks Investment Research Stocks to Consider Some better-ranked stocks in the Medical space are Bausch Health Companies Inc. BHC, The Pennant Group, Inc. PNTG and Enovis Corporation ENOV.
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bf08b234-99ee-49d2-a554-23f9a4fbaa95
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715086.0
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2023-12-01 00:00:00 UTC
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Robinhood (HOOD) Makes Third Attempt to Expand in the UK Market
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DCOMP
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https://www.nasdaq.com/articles/robinhood-hood-makes-third-attempt-to-expand-in-the-uk-market
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nan
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nan
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As part of its international expansion plans, Robinhood Markets, Inc. HOOD is finally rolling out brokerage services in the U.K. At the beginning of last month, HOOD announced its plans to start brokerage operations in the U.K. soon, along with its intention to start cryptocurrency trading in the European Union (“EU”).
In its third-quarter earnings release, HOOD stated, “With an experienced team in place, we will soon launch brokerage operations in the U.K. As another step in global expansion, we are also planning to launch crypto trading in the EU following our U.K. launch.”
Notably, this will be the stock-trading platform’s third attempt to enter the U.K. market.
Making its debut in the U.K. markets, HOOD is starting by offering its commission-free trading platform to selected customers. A full rollout is expected in early 2024.
At launch, users of Robinhood in the U.K. will be offered more than 6,000 United States-listed stocks and American depositary receipts without any foreign exchange fees, trading outside of U.S. market hours with the Robinhood 24 Hour Market, and no-account minimums.
Moreover, customers will be able to build a portfolio for as little as $1. They will have access to a 5% annual equivalent rate for any cash holdings but there will be no initial support for U.K. stocks.
Jordan Sinclair, the president of Robinhood U.K., stated, “For too long, U.K. investors have incurred high fees to invest in the U.S. markets and earned low returns on their uninvested cash. This is just the beginning for Robinhood U.K. and our global ambitions.”
Vlad Tenev, the CEO and co-founder of Robinhood, considers Britain to be the ideal place for HOOD to launch its first international brokerage product.
Tenev said, “Since we launched Robinhood a decade ago, it’s always been our vision to expand internationally. As a hub for innovation, global finance and top tech talent, the United Kingdom is an ideal place for us to launch our first international brokerage product. We look forward to continuing to engage with customers and policymakers as we expand our offerings in the UK.”
The first time HOOD attempted to expand in the U.K. market was in 2019. However, back then, the company scrapped its attempt despite having thousands of investors on a waiting list.
In 2022, HOOD made a second attempt to enter the U.K. market with the announcement of the buyout of U.K. crypto firm Ziglu. However, this deal was canceled later on.
Notably, Robinhood’s latest attempt to expand in the U.K. markets comes almost a month after the country’s Financial Conduct Authority (“FCA”) established new guidelines for strengthening consumer protection.
Effective Oct 8, 2023, new promotion rules have been implemented in the U.K. The FCA has established new guidelines for marketing crypto assets to consumers, which is a significant step toward establishing a regulatory framework in the U.K.
Thus, now, consumers in the U.K. have greater protection as crypto asset firms’ marketing is required to be clear, fair and not misleading, and labeled with prominent risk warnings.
HOOD’s expansion into the U.K. markets marks a milestone in the company’s journey to democratize finance around the globe and increase access to the markets for all.
Over the past six months, shares of Robinhood have lost 5.8% against 2.1% growth of the industry.
Image Source: Zacks Investment Research
Currently, HOOD carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
While HOOD is seeking to start cryptocurrency trading in the EU, JPMorgan’s JPM digital retail bank, Chase, in the U.K., has decided to restrict customers’ access to cryptocurrency-related transactions. JPM said that from Oct 16, 2023, there would be a limit on the ability of its customers to engage in crypto transactions in the U.K.
A JPMorgan spokesperson stated, “We've seen an increase in the number of crypto scams targeting UK consumers, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto site from a Chase account.”
Chase is not the first bank to block or restrict crypto transactions. Earlier this year, banks like NatWest Group plc NWG and Banco Santander SAN imposed tighter restrictions on U.K. customers looking to use crypto.
In order to protect its customers from crypto-related scams, NatWest imposed new limits on the daily and monthly amount consumers can send to crypto exchanges. NWG customers can only send a maximum of £1,000 per day and £5,000 over a 30-day period to crypto exchanges.
Similarly, Spain’s Santander said that it would block U.K. customers from sending real-time payments to crypto exchanges. While SAN prohibits payments from a customer’s account to Binance, customers can transfer funds to their accounts from Binance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Banco Santander, S.A. (SAN) : Free Stock Analysis Report
NatWest Group plc (NWG) : Free Stock Analysis Report
Robinhood Markets, Inc. (HOOD) : 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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Jordan Sinclair, the president of Robinhood U.K., stated, “For too long, U.K. investors have incurred high fees to invest in the U.S. markets and earned low returns on their uninvested cash. Notably, Robinhood’s latest attempt to expand in the U.K. markets comes almost a month after the country’s Financial Conduct Authority (“FCA”) established new guidelines for strengthening consumer protection. While HOOD is seeking to start cryptocurrency trading in the EU, JPMorgan’s JPM digital retail bank, Chase, in the U.K., has decided to restrict customers’ access to cryptocurrency-related transactions.
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While HOOD is seeking to start cryptocurrency trading in the EU, JPMorgan’s JPM digital retail bank, Chase, in the U.K., has decided to restrict customers’ access to cryptocurrency-related transactions. Earlier this year, banks like NatWest Group plc NWG and Banco Santander SAN imposed tighter restrictions on U.K. customers looking to use crypto. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Banco Santander, S.A. (SAN) : Free Stock Analysis Report NatWest Group plc (NWG) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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In its third-quarter earnings release, HOOD stated, “With an experienced team in place, we will soon launch brokerage operations in the U.K. As another step in global expansion, we are also planning to launch crypto trading in the EU following our U.K. launch.” At launch, users of Robinhood in the U.K. will be offered more than 6,000 United States-listed stocks and American depositary receipts without any foreign exchange fees, trading outside of U.S. market hours with the Robinhood 24 Hour Market, and no-account minimums. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Banco Santander, S.A. (SAN) : Free Stock Analysis Report NatWest Group plc (NWG) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The first time HOOD attempted to expand in the U.K. market was in 2019. Image Source: Zacks Investment Research Currently, HOOD carries a Zacks Rank #3 (Hold). Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research?
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fc761306-9717-4f69-8e2a-612faa0ed11c
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715087.0
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2023-12-01 00:00:00 UTC
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Rollins (ROL) Gains 8.4% in a Month: What's Behind the Rally?
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DCOMP
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https://www.nasdaq.com/articles/rollins-rol-gains-8.4-in-a-month%3A-whats-behind-the-rally
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nan
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Rollins, Inc. ROL has gained 8.4% in the past month, outperforming the 6.8% growth of the industry it belongs to.
Reasons Behind the Rally
The demand environment for this leading pest and termite control services provider remains in good shape, driven by strong construction activity. Revenues increased 15.2% year over year in the third quarter of 2023, with all its business lines — residential, commercial and termite — registering growth.
Rollins, Inc. Price
Rollins, Inc. price | Rollins, Inc. Quote
Rollins has developed its operating platform in a way that increases cross-selling opportunities and cost efficiency and facilitates swift customer service delivery. The company’s real-time service tracking and customer Internet communication technologies have increased its competitive advantage.
Its proprietary Branch Operating Support System facilitates service tracking and payment processing for technicians and provides virtual route management tools to increase route efficiency across the network, enabling cost reduction and increasing customer retention through quick response service.
Rollins believes in returning capital through dividends. Consistent dividend payment underscores the company's commitment to shareholders and underlines its confidence in business. It paid dividends of $211.6 million, $208.7 million and $160.5 million in 2022, 2021 and 2020, respectively.
Zacks Rank & Other Stocks to Consider
Rollins currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the broader Business Service sector.
FTI Consulting FCN also carries a Zacks Rank of 2. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Broadridge Financial Solutions BR carries a Zacks Rank of 2. The consensus mark for second-quarter fiscal 2024 revenues is pegged at $1.39 per share, indicating 7.7% year-over-year growth.
BR has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 5.4%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
FTI Consulting, Inc. (FCN) : Free Stock Analysis Report
Rollins, Inc. (ROL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reasons Behind the Rally The demand environment for this leading pest and termite control services provider remains in good shape, driven by strong construction activity. Its proprietary Branch Operating Support System facilitates service tracking and payment processing for technicians and provides virtual route management tools to increase route efficiency across the network, enabling cost reduction and increasing customer retention through quick response service. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%. Broadridge Financial Solutions BR carries a Zacks Rank of 2. Click to get this free report Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Rollins, Inc. Price Rollins, Inc. price | Rollins, Inc. Quote Rollins has developed its operating platform in a way that increases cross-selling opportunities and cost efficiency and facilitates swift customer service delivery. Zacks Rank & Other Stocks to Consider Rollins currently carries a Zacks Rank #2 (Buy). Click to get this free report Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Rollins, Inc. Price Rollins, Inc. price | Rollins, Inc. Quote Rollins has developed its operating platform in a way that increases cross-selling opportunities and cost efficiency and facilitates swift customer service delivery. Zacks Rank & Other Stocks to Consider Rollins currently carries a Zacks Rank #2 (Buy). The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
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b1c76a06-5792-46ab-8b12-5d526ac09802
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715088.0
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2023-12-01 00:00:00 UTC
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Why SEMrush Holdings, Inc. (SEMR) Might be Well Poised for a Surge
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DCOMP
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https://www.nasdaq.com/articles/why-semrush-holdings-inc.-semr-might-be-well-poised-for-a-surge
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nan
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nan
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Investors might want to bet on SEMrush Holdings, Inc. (SEMR), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For SEMrush Holdings, Inc. There has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.03 per share for the current quarter represents a change of +137.5% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for SEMrush Holdings, Inc. has increased 200% because five estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the earnings estimate of $0.07 per share represents a change of +136.84% from the year-ago number.
The revisions trend for the current year also appears quite promising for SEMrush Holdings, Inc. with five estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 52.78%.
Favorable Zacks Rank
The promising estimate revisions have helped SEMrush Holdings, Inc. earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for SEMrush Holdings, Inc. have attracted decent investments and pushed the stock 42.7% 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SEMrush Holdings, Inc. (SEMR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Over the last 30 days, the Zacks Consensus Estimate for SEMrush Holdings, Inc. has increased 200% because five estimates have moved higher compared to no negative revisions. The revisions trend for the current year also appears quite promising for SEMrush Holdings, Inc. with five estimates moving higher over the past month compared to no negative revisions. Favorable Zacks Rank The promising estimate revisions have helped SEMrush Holdings, Inc. earn a Zacks Rank #2 (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 SEMrush Holdings, Inc. earn a Zacks Rank #2 (Buy). Bottom Line While strong estimate revisions for SEMrush Holdings, Inc. have attracted decent investments and pushed the stock 42.7% higher over the past four weeks, further upside may still be left in the stock.
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Investors might want to bet on SEMrush Holdings, Inc. (SEMR), as earnings estimates for this company have been showing solid improvement lately. Over the last 30 days, the Zacks Consensus Estimate for SEMrush Holdings, Inc. has increased 200% because five estimates have moved higher compared to no negative revisions. Favorable Zacks Rank The promising estimate revisions have helped SEMrush Holdings, Inc. earn a Zacks Rank #2 (Buy).
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860f277b-3e4f-42a9-a7fc-0ba54f916dcc
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715089.0
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2023-12-01 00:00:00 UTC
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Surging Earnings Estimates Signal Upside for Procore Technologies (PCOR) Stock
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DCOMP
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https://www.nasdaq.com/articles/surging-earnings-estimates-signal-upside-for-procore-technologies-pcor-stock
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nan
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nan
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Investors might want to bet on Procore Technologies (PCOR), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The upward trend in estimate revisions for this construction management software reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Procore Technologies, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The earnings estimate of $0.07 per share for the current quarter represents a change of +187.5% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for Procore Technologies has increased 38.34% because six estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the earnings estimate of $0.20 per share represents a change of +139.22% from the year-ago number.
The revisions trend for the current year also appears quite promising for Procore Technologies, with seven estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 22.99%.
Favorable Zacks Rank
The promising estimate revisions have helped Procore Technologies earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Procore Technologies have attracted decent investments and pushed the stock 17.1% 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 Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Procore Technologies, Inc. (PCOR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Over the last 30 days, the Zacks Consensus Estimate for Procore Technologies has increased 38.34% because six estimates have moved higher compared to no negative revisions. The revisions trend for the current year also appears quite promising for Procore Technologies, with seven estimates moving higher over the past month compared to no negative revisions. Favorable Zacks Rank The promising estimate revisions have helped Procore Technologies earn a Zacks Rank #2 (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 Procore Technologies earn a Zacks Rank #2 (Buy). Bottom Line While strong estimate revisions for Procore Technologies have attracted decent investments and pushed the stock 17.1% higher over the past four weeks, further upside may still be left in the stock.
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Investors might want to bet on Procore Technologies (PCOR), as earnings estimates for this company have been showing solid improvement lately. Over the last 30 days, the Zacks Consensus Estimate for Procore Technologies has increased 38.34% because six estimates have moved higher compared to no negative revisions. Favorable Zacks Rank The promising estimate revisions have helped Procore Technologies earn a Zacks Rank #2 (Buy).
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cf731153-08e3-4efd-b02a-1ba2e01c8b25
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715090.0
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2023-12-01 00:00:00 UTC
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Cadence (CADE) Sells Insurance Business to Arthur J. (AJG)
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DCOMP
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https://www.nasdaq.com/articles/cadence-cade-sells-insurance-business-to-arthur-j.-ajg
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Cadence Bank CADE closed the sale of its insurance business, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. AJG in a cash deal worth $904 million. The amount is subjected to certain customary purchase price adjustments.
The deal was announced on Oct 24, 2023, and was expected to have a positive impact on CADE’s earnings per share. The company projected that the transaction would result in an immediate net capital increase of approximately $620 million and net cash proceeds would amount to around $650 million. Both estimations are made on an after-tax basis.
Cadence intends to channelize sale proceeds to repay its wholesale borrowings as well as invest in its core banking business. The significant capital creation would also provide sufficient flexibility to undertake capital distributions, thereby enhancing shareholders’ value. Hence, the transaction enables the company to grow its core banking business and strategically positions it for long-term growth.
At the time of deal announcement, the transaction was expected to provide an accretion of approximately 24% to CADE’s tangible book value per share and improve common equity tier 1 ratio by around 160 basis points.
Cadence Insurance has been successfully managing 30 offices in eight states across the Southeast. These along with transfer of executive leadership, management and employees will also be included in the deal.
CADE shares have gained 27.1% over the past six months compared with AJG’s rise of 21.1%.
Image Source: Zacks Investment Research
CADE presently carries a Zacks Rank #3 (Hold) and AJG has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Inorganic Expansion Effort by a Bank
LCNB Corp. LCNB, the holding company for LCNB National Bank, signed a definitive agreement to acquire Eagle Financial Bancorp, Inc. in a stock-and-cash transaction. The closing of the deal, subject to the approval of EFBI shareholders and regulators, and other customary conditions, is expected in the second quarter of 2024. The approval of LCNB shareholders is not required.
Eagle Financial, the holding company for EAGLE.bank, is a full-service banking institution with three offices in Cincinnati, OH. As of Sep 30, 2023, it had $175.8 million in assets, $140.8 million in loans, $135 million in deposits and $26.3 million in consolidated stockholders’ equity.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report
LCNB Corporation (LCNB) : Free Stock Analysis Report
Cadence Bank (CADE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Cadence intends to channelize sale proceeds to repay its wholesale borrowings as well as invest in its core banking business. At the time of deal announcement, the transaction was expected to provide an accretion of approximately 24% to CADE’s tangible book value per share and improve common equity tier 1 ratio by around 160 basis points. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Cadence Bank CADE closed the sale of its insurance business, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. AJG in a cash deal worth $904 million. Image Source: Zacks Investment Research CADE presently carries a Zacks Rank #3 (Hold) and AJG has a Zacks Rank #2 (Buy). Click to get this free report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report LCNB Corporation (LCNB) : Free Stock Analysis Report Cadence Bank (CADE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Cadence Bank CADE closed the sale of its insurance business, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. AJG in a cash deal worth $904 million. Image Source: Zacks Investment Research CADE presently carries a Zacks Rank #3 (Hold) and AJG has a Zacks Rank #2 (Buy). Click to get this free report Arthur J. Gallagher & Co. (AJG) : Free Stock Analysis Report LCNB Corporation (LCNB) : Free Stock Analysis Report Cadence Bank (CADE) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Cadence Bank CADE closed the sale of its insurance business, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. AJG in a cash deal worth $904 million. The deal was announced on Oct 24, 2023, and was expected to have a positive impact on CADE’s earnings per share. Inorganic Expansion Effort by a Bank LCNB Corp. LCNB, the holding company for LCNB National Bank, signed a definitive agreement to acquire Eagle Financial Bancorp, Inc. in a stock-and-cash transaction.
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2f87def8-7f9b-4dbe-80ca-deafbb8bbca4
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715091.0
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2023-12-01 00:00:00 UTC
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Omnicom (OMC) Rises 7.6% in a Month: What You Should Know
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DCOMP
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https://www.nasdaq.com/articles/omnicom-omc-rises-7.6-in-a-month%3A-what-you-should-know
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nan
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Omnicom Group Inc. OMC has had an impressive run in the past month, appreciating 7.6%.
The company posted better-than-expected earnings performance in the last four quarters, driven by solid performance across global geographies and continued strength in faster-growing disciplines. Consistency and diversity of Omnicom's operations and increased focus on delivering consumer-centric strategic business solutions ensure long-term profitability for the company.
Omnicom Group Inc. Price
Omnicom Group Inc. price | Omnicom Group Inc. Quote
It is currently benefiting from new business wins and remains focused on integrating creativity, digital technology and data for developing marketing solutions that are capable of catering to the business transformation needs of clients.
Omnicom has a consistent record of returning value to shareholders in the form of dividends and share repurchases. In 2022, 2021 and 2020, the company paid dividends of $581.1 million, $592.3 million and $562.7 million, respectively. It repurchased shares worth $611.4 million, $527.3 million and $222 million in 2022, 2021 and 2020, respectively. Such moves not only instill investors’ confidence but also positively impact earnings per share.
Zacks Rank and Stocks to Consider
Omnicom currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the broader Business Service sector.
Rollins ROL currently carries a Zacks Rank #2 (Buy). For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents, indicating year-over-year growth of 17.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%.
FTI Consulting FCN also carries a Zacks Rank of 2. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.
FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Omnicom Group Inc. (OMC) : Free Stock Analysis Report
FTI Consulting, Inc. (FCN) : Free Stock Analysis Report
Rollins, Inc. (ROL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Consistency and diversity of Omnicom's operations and increased focus on delivering consumer-centric strategic business solutions ensure long-term profitability for the company. For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents, indicating year-over-year growth of 17.7%. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Omnicom Group Inc. Price Omnicom Group Inc. price | Omnicom Group Inc. Quote It is currently benefiting from new business wins and remains focused on integrating creativity, digital technology and data for developing marketing solutions that are capable of catering to the business transformation needs of clients. ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%. Click to get this free report Omnicom Group Inc. (OMC) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Omnicom Group Inc. Price Omnicom Group Inc. price | Omnicom Group Inc. Quote It is currently benefiting from new business wins and remains focused on integrating creativity, digital technology and data for developing marketing solutions that are capable of catering to the business transformation needs of clients. Zacks Rank and Stocks to Consider Omnicom currently carries a Zacks Rank #3 (Hold). Click to get this free report Omnicom Group Inc. (OMC) : Free Stock Analysis Report FTI Consulting, Inc. (FCN) : Free Stock Analysis Report Rollins, Inc. (ROL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Rollins ROL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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834ee735-c2af-4476-b939-fbacf3f911ec
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715092.0
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2023-12-01 00:00:00 UTC
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BOX Gears Up to Report Q3 Earnings: What's in the Offing?
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DCOMP
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https://www.nasdaq.com/articles/box-gears-up-to-report-q3-earnings%3A-whats-in-the-offing-0
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Box, Inc. BOX is scheduled to report third-quarter fiscal 2024 results on Dec 5.
For the fiscal third quarter, Box expects revenues of $261-$263 million, suggesting a 5% rise at the high end of the company's given range from the prior-year reported figure. The Zacks Consensus Estimate for the same is pegged at $262.03 million, indicating 4.8% growth from the prior-year quarter's reported value.
Box anticipates non-GAAP earnings per share of 37-38 cents. The consensus mark for the metric is pegged at 38 cents, suggesting an improvement of 22.6% from the previous fiscal year’s quarterly reported figure. Also, the bottom line has been unchanged over the past 30 days.
Earnings of BOX surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 8.38%.
Key Factors to Note
Box’s performance for the fiscal third quarter is likely to have benefited from the growing adoption of content cloud solutions by new and existing customers. Also, its strength in Enterprise Plus Suites is expected to have bolstered its attach rate during the to-be-reported quarter.
Strengthening multi-product offerings and deeper integrations might have contributed well in the underlined quarter.
Strengthening the momentum of Box AI might have been a positive
Growing momentum across government and private organizations is expected to have acted as a catalyst in the quarter under review.
Rising demand for digital transformation, data security, compliance and privacy in businesses is expected to have aided the to-be-reported fiscal quarter’s performance.
This apart, go-to-market strategies, including price optimization and packaging, might have supported Box’s performance in the fiscal quarter under review.
However, rising cloud competition from players like Google and Dropbox is expected to have remained a concern in the fiscal third quarter.
Mounting expenses related to investments in cloud infrastructure, sales and marketing and administration are likely to have dented profit margins in the quarter under discussion.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Box this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below.
Box has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BOX carries a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this season.
Core & Main CNM has an Earnings ESP of +3.86% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Core & Main is set to announce its third-quarter fiscal 2023 results on Dec 5. CNM shares have gained 84.3% year to date.
Aldeyra Therapeutics ALDX has an Earnings ESP of +23.71% and a Zacks Rank #2 at present.
Aldeyra Therapeutics is set to announce its third-quarter fiscal 2023 results on Dec 7. ALDX shares have declined 60.2% year to date.
Campbell Soup CPB currently has an Earnings ESP of +0.07% and a Zacks Rank #3.
Campbell Soup is set to announce its first-quarter fiscal 2024 results on Dec 6. CPB shares have lost 26.3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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
Campbell Soup Company (CPB) : Free Stock Analysis Report
Box, Inc. (BOX) : Free Stock Analysis Report
Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report
Core & Main, Inc. (CNM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For the fiscal third quarter, Box expects revenues of $261-$263 million, suggesting a 5% rise at the high end of the company's given range from the prior-year reported figure. Key Factors to Note Box’s performance for the fiscal third quarter is likely to have benefited from the growing adoption of content cloud solutions by new and existing customers. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things.
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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. Core & Main is set to announce its third-quarter fiscal 2023 results on Dec 5. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report Box, Inc. (BOX) : Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings of BOX surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 8.38%. 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. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report Box, Inc. (BOX) : Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Box, Inc. 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. Box has an Earnings ESP of 0.00%.
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01eba921-2d27-4fd4-996e-1f936ce590a7
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715093.0
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2023-12-01 00:00:00 UTC
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BOX Gears Up to Report Q3 Earnings: What's in the Offing?
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DCOMP
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https://www.nasdaq.com/articles/box-gears-up-to-report-q3-earnings%3A-whats-in-the-offing
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nan
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Box, Inc. BOX is scheduled to report third-quarter fiscal 2024 results on Dec 5.
For the fiscal third quarter, Box expects revenues of $261-$263 million, suggesting a 5% rise at the high end of the company's given range from the prior-year reported figure. The Zacks Consensus Estimate for the same is pegged at $262.03 million, indicating 4.8% growth from the prior-year quarter's reported value.
Box anticipates non-GAAP earnings per share of 37-38 cents. The consensus mark for the metric is pegged at 38 cents, suggesting an improvement of 22.6% from the previous fiscal year’s quarterly reported figure. Also, the bottom line has been unchanged over the past 30 days.
Earnings of BOX surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 8.38%.
Key Factors to Note
Box’s performance for the fiscal third quarter is likely to have benefited from the growing adoption of content cloud solutions by new and existing customers. Also, its strength in Enterprise Plus Suites is expected to have bolstered its attach rate during the to-be-reported quarter.
Strengthening multi-product offerings and deeper integrations might have contributed well in the underlined quarter.
Strengthening the momentum of Box AI might have been a positive
Growing momentum across government and private organizations is expected to have acted as a catalyst in the quarter under review.
Rising demand for digital transformation, data security, compliance and privacy in businesses is expected to have aided the to-be-reported fiscal quarter’s performance.
This apart, go-to-market strategies, including price optimization and packaging, might have supported Box’s performance in the fiscal quarter under review.
However, rising cloud competition from players like Google and Dropbox is expected to have remained a concern in the fiscal third quarter.
Mounting expenses related to investments in cloud infrastructure, sales and marketing and administration are likely to have dented profit margins in the quarter under discussion.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Box this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below.
Box has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
BOX carries a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings this season.
Core & Main CNM has an Earnings ESP of +3.86% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Core & Main is set to announce its third-quarter fiscal 2023 results on Dec 5. CNM shares have gained 84.3% year to date.
Aldeyra Therapeutics ALDX has an Earnings ESP of +23.71% and a Zacks Rank #2 at present.
Aldeyra Therapeutics is set to announce its third-quarter fiscal 2023 results on Dec 7. ALDX shares have declined 60.2% year to date.
Campbell Soup CPB currently has an Earnings ESP of +0.07% and a Zacks Rank #3.
Campbell Soup is set to announce its first-quarter fiscal 2024 results on Dec 6. CPB shares have lost 26.3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Campbell Soup Company (CPB) : Free Stock Analysis Report
Box, Inc. (BOX) : Free Stock Analysis Report
Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report
Core & Main, Inc. (CNM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For the fiscal third quarter, Box expects revenues of $261-$263 million, suggesting a 5% rise at the high end of the company's given range from the prior-year reported figure. Key Factors to Note Box’s performance for the fiscal third quarter is likely to have benefited from the growing adoption of content cloud solutions by new and existing customers. Rising demand for digital transformation, data security, compliance and privacy in businesses is expected to have aided the to-be-reported fiscal quarter’s performance.
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Core & Main is set to announce its third-quarter fiscal 2023 results on Dec 5. Aldeyra Therapeutics is set to announce its third-quarter fiscal 2023 results on Dec 7. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report Box, Inc. (BOX) : Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Earnings of BOX surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 8.38%. 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. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report Box, Inc. (BOX) : Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report Core & Main, Inc. (CNM) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Box, Inc. Earnings of BOX surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 8.38%. Box has an Earnings ESP of 0.00%.
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338b46d9-34a0-4788-92ce-97830fbf3c04
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715094.0
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2023-12-01 00:00:00 UTC
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Unlocking Q1 Potential of Campbell (CPB): Exploring Wall Street Estimates for Key Metrics
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DCOMP
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https://www.nasdaq.com/articles/unlocking-q1-potential-of-campbell-cpb%3A-exploring-wall-street-estimates-for-key-metrics-0
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. It is anticipated that revenues will amount to $2.5 billion, exhibiting a decline of 2.7% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Campbell metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Net sales- Meals and Beverages' should come in at $1.39 billion. The estimate points to a change of -4.7% from the year-ago quarter.
Analysts expect 'Net sales- Snacks' to come in at $1.12 billion. The estimate indicates a year-over-year change of -0.2%.
The consensus estimate for 'Operating income- Meals and Beverages' stands at $276.59 million. The estimate compares to the year-ago value of $331 million.
Analysts forecast 'Operating income- Snacks' to reach $156.20 million. The estimate compares to the year-ago value of $153 million.
View all Key Company Metrics for Campbell here>>>
Campbell shares have witnessed a change of -2.7% in the past month, in contrast to the Zacks S&P 500 composite's +9.2% move. With a Zacks Rank #3 (Hold), CPB is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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Campbell Soup Company (CPB) : 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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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. Given this perspective, it's time to examine the average forecasts of specific Campbell metrics that are routinely monitored and predicted by Wall Street analysts. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things.
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it.
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. View all Key Company Metrics for Campbell here>>> You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it.
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715095.0
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2023-12-01 00:00:00 UTC
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Unlocking Q1 Potential of Campbell (CPB): Exploring Wall Street Estimates for Key Metrics
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https://www.nasdaq.com/articles/unlocking-q1-potential-of-campbell-cpb%3A-exploring-wall-street-estimates-for-key-metrics
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. It is anticipated that revenues will amount to $2.5 billion, exhibiting a decline of 2.7% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Campbell metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Net sales- Meals and Beverages' should come in at $1.39 billion. The estimate points to a change of -4.7% from the year-ago quarter.
Analysts expect 'Net sales- Snacks' to come in at $1.12 billion. The estimate indicates a year-over-year change of -0.2%.
The consensus estimate for 'Operating income- Meals and Beverages' stands at $276.59 million. The estimate compares to the year-ago value of $331 million.
Analysts forecast 'Operating income- Snacks' to reach $156.20 million. The estimate compares to the year-ago value of $153 million.
View all Key Company Metrics for Campbell here>>>
Campbell shares have witnessed a change of -2.7% in the past month, in contrast to the Zacks S&P 500 composite's +9.2% move. With a Zacks Rank #3 (Hold), CPB is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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
Campbell Soup Company (CPB) : 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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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock. Given this perspective, it's time to examine the average forecasts of specific Campbell metrics that are routinely monitored and predicted by Wall Street analysts.
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. Click to get this free report Campbell Soup Company (CPB) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come.
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Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come.
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07d65c96-cfbf-4ee5-8762-0b4a804425bc
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715096.0
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2023-12-01 00:00:00 UTC
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Weyerhaeuser (WY) Agrees to Buy High-Quality Timberlands
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https://www.nasdaq.com/articles/weyerhaeuser-wy-agrees-to-buy-high-quality-timberlands
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Weyerhaeuser Company WY announced the acquisition of approximately 60,700 acres of high-quality timberlands in Coastal North Carolina, South Carolina and Mississippi for $163 million. It also declared the divestiture of approximately 69,600 acres of land in Upstate South Carolina for $170 million.
The two distinct deals with Forest Investment Associates are subject to customary closing conditions and expected to close in the fourth quarter of 2023.
The acquired high-quality timberlands have attractive timber attributes, including mature, highly productive acreage, which is well integrated with WY’s existing timberlands and mill operations.
The buyout deal is fee ownership, which includes 80% planted pine acreage and strong site productivity, delivering impressive long-term timber returns. Also, the timberlands are well-stocked and are expected to produce an attractive sawlog mix and an average harvest of 6.9 tons per acre (or 420,000 tons) annually in the first five years.
The company projects an average adjusted EBITDA from timber operations of approximately $130 per acre (or $7.7 million) annually for the first five years.
These agreements are tax-efficient, like-kind exchanges with minimal transaction costs. Also, the deals will provide WY with an opportunity to enhance real estate cash flows and returns on high-optional coastal assets.
The stock moved south 1.1% in the after-hours trading session on Nov 30.
A Look at the Timberlands Business
Weyerhaeuser’s business segments — Timberlands, Real Estate, Energy and Natural Resources and Wood Products — are categorized primarily on the basis of products and services.
Weyerhaeuser has significant operations and infrastructure across three states, including seven mills, two distribution centers, two tree nurseries and multiple mitigation banks and real estate development projects. Post completion of the recent deal, it will own or manage more than 870,000 acres of timberlands in North and South Carolina and approximately 1,190,000 in Mississippi.
The company expects earnings (before special items) and adjusted EBITDA to be comparable sequentially in the fourth quarter. In the western region, the company anticipates that fee harvest volumes, sales prices and forestry and road expenses will show similar performance compared with the prior year quarter. In the southern region, the company foresees that fee harvest volumes, sales prices and per-unit log and haul costs will remain consistent with those in the third quarter of 2023.
Share Price Performance
Shares of Weyerhaeuser have strongly outperformed the Zacks Building Products - Wood industry this year. Despite the rapidly changing market conditions and persistent supply-chain woes, Weyerhaeuser’s operational excellence initiatives, solid momentum in U.S. housing and solid repair and remodel demand bode well.
Zacks Rank & Key Picks
Weyerhaeuser currently has a Zacks Rank #3 (Hold).
Here are some better-ranked stocks that investors may consider from the Construction sector.
Acuity Brands, Inc. AYI currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AYI delivered a trailing four-quarter earnings surprise of 12%, on average. The stock has lost 5.2% in the past year. The Zacks Consensus Estimate for AYI’s fiscal 2024 sales and earnings per share (EPS) indicates a decline of 3% and 4.7%, respectively, from that reported a year ago.
M-tron Industries, Inc. MPTI currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. The company's shares have surged 262.2% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the prior-year level.
EMCOR Group, Inc. EME presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have risen 38.1% in the past year.
The Zacks Consensus Estimate for EME’s 2023 sales and EPS indicates an improvement of 12% and 52.8%, respectively, from the prior-year level.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Weyerhaeuser Company (WY) : Free Stock Analysis Report
EMCOR Group, Inc. (EME) : Free Stock Analysis Report
Acuity Brands Inc (AYI) : Free Stock Analysis Report
M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The buyout deal is fee ownership, which includes 80% planted pine acreage and strong site productivity, delivering impressive long-term timber returns. Weyerhaeuser has significant operations and infrastructure across three states, including seven mills, two distribution centers, two tree nurseries and multiple mitigation banks and real estate development projects. In the western region, the company anticipates that fee harvest volumes, sales prices and forestry and road expenses will show similar performance compared with the prior year quarter.
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Weyerhaeuser Company WY announced the acquisition of approximately 60,700 acres of high-quality timberlands in Coastal North Carolina, South Carolina and Mississippi for $163 million. The company projects an average adjusted EBITDA from timber operations of approximately $130 per acre (or $7.7 million) annually for the first five years. Click to get this free report Weyerhaeuser Company (WY) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Acuity Brands Inc (AYI) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The Zacks Consensus Estimate for AYI’s fiscal 2024 sales and earnings per share (EPS) indicates a decline of 3% and 4.7%, respectively, from that reported a year ago. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Click to get this free report Weyerhaeuser Company (WY) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Acuity Brands Inc (AYI) : Free Stock Analysis Report M-tron Industries, Inc. (MPTI) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company projects an average adjusted EBITDA from timber operations of approximately $130 per acre (or $7.7 million) annually for the first five years. The Zacks Consensus Estimate for AYI’s fiscal 2024 sales and earnings per share (EPS) indicates a decline of 3% and 4.7%, respectively, from that reported a year ago. The company's shares have surged 262.2% in the past year.
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6170b327-d1b3-4d9b-8459-df846a0cb483
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715097.0
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2023-12-01 00:00:00 UTC
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US STOCKS-Wall St edges higher as Powell comments bolster peak-rate bets
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https://www.nasdaq.com/articles/us-stocks-wall-st-edges-higher-as-powell-comments-bolster-peak-rate-bets
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By Shristi Achar A and Amruta Khandekar
Dec 1 (Reuters) - Wall Street's main indexes inched higher on Friday after Federal Reserve Chair Jerome Powell acknowledged progress in lowering inflation, encouraging expectations the central bank was done with its interest rate hiking campaign.
Powell noted a key measure of inflation was near the Fed's 2% target and that it was clear the U.S. monetary policy was slowing the economy as expected. He, however, added the central bank was prepared to tighten policy further if necessary.
While a pause in rate hikes has been fully priced in for the upcoming December policy meeting, traders see an about 61% chance of at least a 25 basis point rate cut in as soon as March 2024, up from about 56% before his comments.
"We've already reached the point where it's sufficiently restrictive," said Robert Pavlik, senior portfolio manager, Dakota Wealth, adding that the US economy was slowing.
"Just how fast it slows and how much a rate cut is needed, we don't know yet because we haven't gotten to the point to know exactly where we are."
A slew of recent data including Thursday's personal consumption expenditure index signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon, propelling a rally in equities.
The S&P 500 .SPX and Nasdaq .IXIC finished November with their biggest monthly gain since July 2022, while the Dow Jones .DJI rallied to close at its highest level since January 2022.
At 11:43 a.m. ET, the Dow Jones Industrial Average .DJI was up 138.57 points, or 0.39%, at 36,089.46, the S&P 500 .SPX was up 13.61 points, or 0.30%, at 4,581.41, and the Nasdaq Composite .IXIC was up 17.13 points, or 0.12%, at 14,243.35.
TeslaTSLA.O underperformed megacap peers, falling 1.6% as the EV maker priced its Cybertruck above its initial forecast.
Among other top drags, PfizerPFE.N fell 4.6% as the drugmaker scrapped its plan to advance a twice-daily version of oral weight-loss drug danuglipron into late-stage studies, delaying its entry into the lucrative market.
U.S.-listed shares of AlibabaBABA.N slipped 2.2% after Morgan Stanley downgraded the e-commerce giant, citing slower turnaround in customer management revenue (CMR).
Marvell TechnologyMRVL.O shed 5.0% after the chipmaker's fourth-quarter revenue forecast fell short of Street estimates.
Ulta BeautyULTA.O rose 11.0% after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.
Paramount GlobalPARA.O climbed 7.6% on a report the media company and Apple AAPL.O have discussed bundling their streaming services at a discount.
Advancing issues outnumbered decliners by a 4.24-to-1 ratio on the NYSE and by a 2.49-to-1 ratio on the Nasdaq.
The S&P index recorded 41 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 60 new lows.
U.S. inflation is falling https://tmsnrt.rs/3R3OjrB
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini Ganguli)
((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar; amruta.khandekar@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 Shristi Achar A and Amruta Khandekar Dec 1 (Reuters) - Wall Street's main indexes inched higher on Friday after Federal Reserve Chair Jerome Powell acknowledged progress in lowering inflation, encouraging expectations the central bank was done with its interest rate hiking campaign. A slew of recent data including Thursday's personal consumption expenditure index signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon, propelling a rally in equities. Among other top drags, PfizerPFE.N fell 4.6% as the drugmaker scrapped its plan to advance a twice-daily version of oral weight-loss drug danuglipron into late-stage studies, delaying its entry into the lucrative market.
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A slew of recent data including Thursday's personal consumption expenditure index signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon, propelling a rally in equities. The S&P index recorded 41 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 60 new lows. U.S. inflation is falling https://tmsnrt.rs/3R3OjrB (Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini Ganguli) ((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar; amruta.khandekar@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 Shristi Achar A and Amruta Khandekar Dec 1 (Reuters) - Wall Street's main indexes inched higher on Friday after Federal Reserve Chair Jerome Powell acknowledged progress in lowering inflation, encouraging expectations the central bank was done with its interest rate hiking campaign. A slew of recent data including Thursday's personal consumption expenditure index signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon, propelling a rally in equities. U.S. inflation is falling https://tmsnrt.rs/3R3OjrB (Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini Ganguli) ((Shristi.AcharA@thomsonreuters.com https://twitter.com/ShristiAchar; amruta.khandekar@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 Shristi Achar A and Amruta Khandekar Dec 1 (Reuters) - Wall Street's main indexes inched higher on Friday after Federal Reserve Chair Jerome Powell acknowledged progress in lowering inflation, encouraging expectations the central bank was done with its interest rate hiking campaign. A slew of recent data including Thursday's personal consumption expenditure index signalled easing inflation and bolstered hopes the central bank would now end its interest rate hikes and could start lowering them soon, propelling a rally in equities. ET, the Dow Jones Industrial Average .DJI was up 138.57 points, or 0.39%, at 36,089.46, the S&P 500 .SPX was up 13.61 points, or 0.30%, at 4,581.41, and the Nasdaq Composite .IXIC was up 17.13 points, or 0.12%, at 14,243.35.
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84ad6a04-ca3e-4eb9-81d6-29e9191ca01d
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715098.0
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2023-12-01 00:00:00 UTC
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Stay Ahead of the Game With Greif (GEF) Q4 Earnings: Wall Street's Insights on Key Metrics
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https://www.nasdaq.com/articles/stay-ahead-of-the-game-with-greif-gef-q4-earnings%3A-wall-streets-insights-on-key-metrics
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The upcoming report from Greif (GEF) is expected to reveal quarterly earnings of $1.30 per share, indicating a decline of 29% compared to the year-ago period. Analysts forecast revenues of $1.31 billion, representing a decrease of 12.3% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Greif metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Net Sales- Global Industrial Packaging' to reach $750.52 million. The estimate indicates a change of -9% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Land Management' at $5.26 million. The estimate indicates a change of -0.8% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net Sales- Paper Packaging & Services' will likely reach $555.68 million. The estimate indicates a change of -16.5% from the prior-year quarter.
The consensus among analysts is that 'Adjusted EBITDA- Global Industrial Packaging' will reach $103.74 million. Compared to the current estimate, the company reported $96 million in the same quarter of the previous year.
It is projected by analysts that the 'Adjusted EBITDA- Paper Packaging & Services' will reach $84.15 million. The estimate is in contrast to the year-ago figure of $120.80 million.
View all Key Company Metrics for Greif here>>>
Over the past month, shares of Greif have returned +8.3% versus the Zacks S&P 500 composite's +9.2% change. Currently, GEF carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Greif, Inc. (GEF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The upcoming report from Greif (GEF) is expected to reveal quarterly earnings of $1.30 per share, indicating a decline of 29% compared to the year-ago period. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock. While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
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While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding. Analysts forecast 'Net Sales- Global Industrial Packaging' to reach $750.52 million. The combined assessment of analysts suggests that 'Net Sales- Paper Packaging & Services' will likely reach $555.68 million.
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While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding. Compared to the current estimate, the company reported $96 million in the same quarter of the previous year. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come.
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The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding. Compared to the current estimate, the company reported $96 million in the same quarter of the previous year.
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dcc4c4c2-204c-41f7-bdcb-76a7b6118e34
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715099.0
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2023-12-01 00:00:00 UTC
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Enphase Energy (ENPH) Unveils IQ8P Microinverters in Mexico
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https://www.nasdaq.com/articles/enphase-energy-enph-unveils-iq8p-microinverters-in-mexico
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Enphase Energy Inc. ENPH recently commenced shipment of its IQ8P microinverters with a peak output power of 480 watts (W), to Mexico. These microinverters, with a 12-year limited warranty, should enable ENPH to capture more shares of the expanding Mexican solar market.
Rationale Behind IQ8P’s Launch in Mexico
A rapid adoption of renewable energy sources has been boosting the solar market in Mexico in recent years. The nation’s regulatory authorities have been playing the role of a key growth catalyst for the solar industry here.
As stated by International Trade Administration, Mexico’s Energy Transition Law and General Climate Change Law require the nation to generate 35% of electricity from clean energy sources by 2024, including power regeneration from renewable sources like solar.
Looking ahead, according to a 2022 report by the National Renewable Energy Labs, Mexico’s national technical potential includes 24,918 gigawatts (GW) of solar photovoltaics. This surely reflects the solid demand that Mexico’s solar market has to offer, thereby boosting the need for high-powered solar modules.
To cater to such modules, Enphase Energy’s IQ8P microinverters, which come with a peak output AC power of 480 watts and are designed to pair seamlessly with a full range of solar modules up to 670 W DC, seem to be the perfect choice. These microinverters can manage a continuous DC current of 14 amperes, thereby supporting high-powered solar modules through increased energy harvesting.
Undoubtedly, the availability of such a remarkable product in Mexico’s solar market will attract solar installers to choose Enphase Energy’s microinverters, thereby fetching notable revenue growth for the company.
Growth Prospects in Mexico
Mexico’s solar market provides significant growth opportunities, primarily due to increased investment and deployment of solar plants and various government policies favoring the development. According to a report by Mordor Intelligence firm, the aforementioned solar market is poised to witness a CAGR of 8% during 2020-2025.
Such solid market growth opportunities in Mexico’s solar industry should boost Enphase Energy, which already enjoys a strong presence in this market. Evidently, in 2021, the company launched its Enphase Installer Network (EIN) in Mexico. Notably, EIN members get a state-of-the-art digital platform that delivers sales leads and self-service tools. Members can also utilize the metrics and analytics to boost business efficiency and drive bottom line.
With Enphase Energy’s EIN already available in Mexico’s solar market, the recent launch of the company’s IQ8P will surely strengthen its position in this space.
Global Solar Scenario
The solar market is expanding rapidly, not just in Mexico, but in the entire world. This is driven by several factors like solid installation activities, falling price of solar installation, favorable policies undertaken by governments as well as the steadily increasing household electricity bill from conventional energy sources. To this end, the Mordor Intelligence firm projects the global solar energy market to witness a CAGR of 12.7% over the 2023-2028 period.
This should benefit Enphase Energy, which has a global presence in the solar industry, ranging from the United States, Europe and Australia to India, Puerto Rico and Central America.
Other solar majors that are steadily expanding their footprint in global solar markets have been discussed below.
SolarEdge SEDG: The company’s international presence continues to bolster its revenue generation prospects. It has a strong presence in Germany, the United Kingdom, Switzerland, South Africa and Thailand. SolarEdge expects the momentum to continue to grow in Europe, particularly in Germany, where installation activity is anticipated to rise from 7.5 GW in 2022 to 10 GW in 2024.
SolarEdge boasts a long-term earnings growth rate of 18.7%. Its shares have risen 9.1% in the past month.
Canadian Solar CSIQ: It caters to a geographically diverse customer base across key markets in the United States, China, Japan, the United Kingdom, Canada and emerging markets in Brazil, India, Mexico, Italy, Germany, South Africa and the Middle East. Of late, the company has expanded its global late-stage project pipeline into nations like Argentina, Australia and South Korea as these markets are expected to see the next phase of industrial growth.
The Zacks Consensus Estimate for Canadian Solar’s 2023 sales indicates an improvement of 4.6% from the prior-year reported figure. The Zacks Consensus Estimate for 2023 earnings implies growth of 20.9% from the prior-year registered number.
First Solar FSLR: The company is steadily expanding its footprint globally by enhancing its manufacturing capacity. In July 2023, First Solar revealed its plans to expand its manufacturing capacity by an additional 3.5 GW by constructing its fifth manufacturing facility in the United States.
The Zacks Consensus Estimate for First Solar’s 2023 sales implies growth of 33.2% from the prior-year reported figure. Shares of FSLR have risen 6.9% in the past month.
Price Movement
In the past year, shares of Enphase Energy have lost 69.9% compared with the industry’s decline of 57.3%.
Image Source: Zacks Investment Research
Zacks Rank
Enphase Energy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With Enphase Energy’s EIN already available in Mexico’s solar market, the recent launch of the company’s IQ8P will surely strengthen its position in this space. This should benefit Enphase Energy, which has a global presence in the solar industry, ranging from the United States, Europe and Australia to India, Puerto Rico and Central America. Of late, the company has expanded its global late-stage project pipeline into nations like Argentina, Australia and South Korea as these markets are expected to see the next phase of industrial growth.
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Such solid market growth opportunities in Mexico’s solar industry should boost Enphase Energy, which already enjoys a strong presence in this market. To this end, the Mordor Intelligence firm projects the global solar energy market to witness a CAGR of 12.7% over the 2023-2028 period. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Undoubtedly, the availability of such a remarkable product in Mexico’s solar market will attract solar installers to choose Enphase Energy’s microinverters, thereby fetching notable revenue growth for the company. Growth Prospects in Mexico Mexico’s solar market provides significant growth opportunities, primarily due to increased investment and deployment of solar plants and various government policies favoring the development. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Rationale Behind IQ8P’s Launch in Mexico A rapid adoption of renewable energy sources has been boosting the solar market in Mexico in recent years. Such solid market growth opportunities in Mexico’s solar industry should boost Enphase Energy, which already enjoys a strong presence in this market. The Zacks Consensus Estimate for 2023 earnings implies growth of 20.9% from the prior-year registered number.
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