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725300.0
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2023-10-05 00:00:00 UTC
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Bull of the Day: Super Micro Computer (SMCI)
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DELL
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https://www.nasdaq.com/articles/bull-of-the-day%3A-super-micro-computer-smci
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nan
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nan
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Zacks Rank #1 (Strong Buy) stock Super Micro Computer Inc (SMCI), also known as Supermicro, is a San Jose-based technology company that designs and manufactures high-performance server and storage solutions. The company’s products are used various up-and-coming, high-growth industries, including enterprise IT, big data, cloud computing, internet of things (IoT), and artificial intelligence (AI).
Betting on Data Center Hardware
According to Next Move Strategy Consulting, the artificial intelligence market currently has a value of ~$100 billion and is expected to grow by a whopping 20x by 2030 to nearly $2 trillion! However, for investors, cashing in on the AI revolution is probably more complex than it may seem. “Chatbot” operators like Microsoft (MSFT) and Alphabet (GOOGL) will undoubtedly benefit if AI becomes even more widespread and adopted. Nevertheless, it is difficult to move the needle for these multi-trillion-dollar juggernauts. That’s where SMCI comes in – SMCI sells the “picks” to the proverbial AI gold rush through its data-center hardware necessary to run AI applications such as ChatGPT.
The AI Revolution is Driving Top and Bottom-Line Growth
Though a plethora of data center company’s benefit from the AI revolution, SMCI is best in class. Last quarter, earnings and revenue jumped by 34% year-over-year. After weathering the COVID-19 pandemic and global shortages, SMCI is beginning to separate itself from its peers in terms of its relative growth rate.
Image Source: Super Micro Computer Inc.
Are Supply Limitations a Concern?
Investment in AI is contributing to explosive demand for SMCI’s servers. However, shares pulled back in August mainly because the company could not meet that high demand. SMCI’s current server production is enough to generate a maximum of $15 billion in revenue annually, but with the addition of a new Malaysian production facility (which goes live in 2024), SMCI will be able to double its production. SMCI also benefits from its server partnership with the undisputed AI leader, Nvidia (NVDA). Though SMCI owns less than 10% of the server market currently, its coveted partnership with NVDA should help the company eat into competition such as Dell Technologies (DELL).
High Growth + High Efficiency: A Winning Combination
High earnings growth is only meaningful with strong operational efficiency. A high return on equity (ROE) indicates that management efficiently uses shareholder equity to generate profits. SMCI’s ROE of 35 dwarfs the S&P 500’s ROE of 25.
Image Source: Zacks Investment Research
Relative Strength + Small Float
In the stock market, trends tend to persist, and strength tends to beget strength. With that in mind, SMCI is in a league of its own. Shares are up 234% versus the S&P 500’s 11.4%. Furthermore, if SMCI continues to execute, investors should benefit from its tiny share float of 45 million shares. Stocks with a small float can gain a lot of momentum because a limited supply of shares makes it easier for demand to supersede supply.
Image Source: Zacks Investment Research
Bottom Line
Zacks Rank #1 stock Super Micro Computer is a leader in the AI industry – an industry expected to grow 20x by 2030. Despite challenges like supply limitations, SMCI’s recent earnings and revenues surged by 34% YoY, demonstrating its resilience. Look for SMCI to be much higher over the next 6-12 months.
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
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Super Micro Computer, Inc. (SMCI) : 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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Though SMCI owns less than 10% of the server market currently, its coveted partnership with NVDA should help the company eat into competition such as Dell Technologies (DELL). Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Super Micro Computer, Inc. (SMCI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Rank #1 (Strong Buy) stock Super Micro Computer Inc (SMCI), also known as Supermicro, is a San Jose-based technology company that designs and manufactures high-performance server and storage solutions.
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Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Super Micro Computer, Inc. (SMCI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Though SMCI owns less than 10% of the server market currently, its coveted partnership with NVDA should help the company eat into competition such as Dell Technologies (DELL). Image Source: Zacks Investment Research Relative Strength + Small Float In the stock market, trends tend to persist, and strength tends to beget strength.
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Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Super Micro Computer, Inc. (SMCI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Though SMCI owns less than 10% of the server market currently, its coveted partnership with NVDA should help the company eat into competition such as Dell Technologies (DELL). Zacks Rank #1 (Strong Buy) stock Super Micro Computer Inc (SMCI), also known as Supermicro, is a San Jose-based technology company that designs and manufactures high-performance server and storage solutions.
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Though SMCI owns less than 10% of the server market currently, its coveted partnership with NVDA should help the company eat into competition such as Dell Technologies (DELL). Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Super Micro Computer, Inc. (SMCI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. SMCI also benefits from its server partnership with the undisputed AI leader, Nvidia (NVDA).
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ef3b0958-1c64-4774-8f49-7ce054d856fa
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725301.0
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2023-10-05 00:00:00 UTC
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Dell Technologies Inc - Class C (DELL) Price Target Increased by 25.81% to 73.88
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DELL
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https://www.nasdaq.com/articles/dell-technologies-inc-class-c-dell-price-target-increased-by-25.81-to-73.88
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nan
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nan
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The average one-year price target for Dell Technologies Inc - Class C (NYSE:DELL) has been revised to 73.88 / share. This is an increase of 25.81% from the prior estimate of 58.72 dated August 31, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 53.53 to a high of 91.35 / share. The average price target represents an increase of 9.94% from the latest reported closing price of 67.20 / share.
What is the Fund Sentiment?
There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 19.10%. Total shares owned by institutions increased in the last three months by 4.01% to 218,761K shares.
The put/call ratio of DELL is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.05% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The average one-year price target for Dell Technologies Inc - Class C (NYSE:DELL) has been revised to 73.88 / share. There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter.
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The average one-year price target for Dell Technologies Inc - Class C (NYSE:DELL) has been revised to 73.88 / share. There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 19.10%.
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The average one-year price target for Dell Technologies Inc - Class C (NYSE:DELL) has been revised to 73.88 / share. There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 19.10%.
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There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter. The average one-year price target for Dell Technologies Inc - Class C (NYSE:DELL) has been revised to 73.88 / share. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 19.10%.
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09324f2d-3aaf-46c6-8b28-6b7212b2ce5c
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725302.0
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2023-10-04 00:00:00 UTC
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ASANA (ASAN) Leverages AI for Enterprise Productivity
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DELL
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https://www.nasdaq.com/articles/asana-asan-leverages-ai-for-enterprise-productivity
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nan
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nan
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Asana ASAN recently introduced artificial intelligence (AI) capabilities, which are set to transform productivity, clarity, and scalability within organizations.
These innovations empower executives, departments, and entire enterprises, enabling a new era of goal achievement and accelerated outcomes.
With intelligent project organization, real-time insights, and goal optimization, Asana's AI-driven solutions illuminate a path toward a more efficient and productive future in work management.
Expanding Portfolio Aids Prospect
Asana's recent AI-powered improvements empower Project Management Office ("PMO") teams to refine operations, standardize objectives, and optimize workflows, enhancing strategic decision-making and expanding enterprise scalability.
Asana, Inc. Price and Consensus
Asana, Inc. price-consensus-chart | Asana, Inc. Quote
Asana also achieved a Customers' Choice Distinction in Collaborative Work Management by Gartner Peer Insights.
ASAN introduced Asana Intelligence, advancing human-centric AI for smarter organizational collaboration.
ASAN unveiled Asana for Startups, extending support to early-stage, venture-backed companies and facilitating their successful scaling.
Further expanding its horizons, Asana forges alliances with major U.S. insurance companies and sports giants like the English Premier League and the New York Islanders.
The company maintains a strong foothold in healthcare and biotech, fortified by HIPAA compliance and robust security measures.
For the third quarter of fiscal 2024, ASAN anticipates revenues between $163.5 million and $164.5 million, indicating growth of 16% year over year. The Zacks Consensus Estimate for the current quarter is pegged at $164.1 million, suggesting a 16.02% growth year over year.
Zacks Rank & Stocks to Consider
Currently, ASAN has a Zacks Rank #3 (Hold).
ASAN shares have returned 25.1% year to date, underperforming the Zacks Computer and Technology sector’s growth of 34.4%.
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 67.1%, 197.8% and 69.6%, respectively, year to date.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 29.55%, respectively.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
Asana, Inc. (ASAN) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 67.1%, 197.8% and 69.6%, respectively, year to date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 29.55%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Asana, Inc. (ASAN) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 67.1%, 197.8% and 69.6%, respectively, year to date.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Asana, Inc. (ASAN) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 67.1%, 197.8% and 69.6%, respectively, year to date.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 67.1%, 197.8% and 69.6%, respectively, year to date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 29.55%, respectively.
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63207ef9-fbf4-4f97-b012-1fbcb850e657
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725303.0
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2023-10-04 00:00:00 UTC
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5 Lucrative PEG-Driven GARP Stocks for Investors
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DELL
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https://www.nasdaq.com/articles/5-lucrative-peg-driven-garp-stocks-for-investors
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nan
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nan
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The investing track of the Oracle of Omaha over the past few decades shows a gradual shift from being a pure-play value investor to a GARP (growth at a reasonable price) investor. The logic behind this is the effectiveness of a mixed investment strategy over pure-play, value or growth approaches of investments.
Several stocks, which have surged significantly in the recent past, show an overwhelming success of this hybrid investing strategy over pure-play value and growth investments. Here we will discuss the success of five such stocks. These include Dell Technologies DELL, HF Sinclair Corporation DINO, Futu Holdings FUTU, BAE Systems plc BAESY and American Eagle Outfitters AEO.
A Few More Words on GARP
The GARP theory enables the strategic mingling of growth and value-investing principles, giving us a hybrid strategy by utilizing the best features of both. What GARPers look for is whether or not the stocks are somewhat undervalued and have solid sustainable growth potential (Investopedia).
GARP investing gives priority to one of the popular value metrics — the price/earnings growth (PEG) ratio. Although it is categorized under value investing, this strategy follows the principles of both growth and value investing.
The PEG ratio is defined as (Price/ Earnings)/Earnings Growth Rate
It relates the stocks’ P/E ratio with the future earnings growth rate.
While P/E alone only gives an idea of stocks that are trading at a discount, PEG, while adding the growth element to it, helps to identify stocks that have solid future potential.
A lower PEG ratio, preferably less than 1, is always better for GARP investors.
Say for example, if a stock's P/E ratio is 10 and the expected long-term growth rate is 15%, the company's PEG will come down to 0.66, a ratio that indicates both undervaluation and future growth potential.
However, the question that often arises is whether the market has an adequate number of companies that are growing earnings while trading at reasonable valuations? Going by a CFA Institute Blog by Nicolas Rabener, “on average, 38% of all stocks exhibit a PEG ratio below 1, which is more than enough for security selection.”
Unfortunately, this ratio is often neglected due to investors' limitations in calculating the future earnings growth rate of a stock.
There are some drawbacks to using the PEG ratio though. It does not consider the common situation of changing growth rates, such as the forecast of the first three years at a very high growth rate followed by a sustainable but lower growth rate in the long term.
Hence, PEG-based investing can turn out to be even more rewarding if some other relevant parameters are also taken into consideration.
Here are the screening criteria for a winning strategy:
PEG Ratio less than X Industry Median
P/E Ratio (using F1) less than X Industry Median (For more accurate valuation purposes)
Zacks Rank of 1 (Strong Buy) or 2 (Buy) (Whether good market conditions or bad, stocks with a Zacks Rank #1 or #2 have a proven history of success.)
Market Capitalization greater than $800 Million (This helps us to focus on companies that have strong liquidity.)
Average 20-day Volume greater than 50,000: A substantial trading volume ensures that the stock is easily tradable.
Percentage Change F1 Earnings Estimate Revisions (4 Weeks) greater than 5%: Upward estimate revisions add to the optimism, suggesting further bullishness.
Value Score of less than or equal to B: Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 or 3 (Hold) offer the best upside potential.
Here are five out of the seven stocks that qualified the screening:
Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company’s Infrastructure Solutions Group segment provides traditional and next-generation storage solutions. The Client Solutions Group segment provides desktops, workstations and notebooks; displays, docking stations, and other electronics; and third-party software and peripherals, as well as support and deployment, configuration and extended warranty services.
Dell currently holds a Zacks Rank #1 and has a Value Score of A. It also has an impressive five-year expected growth rate of 12%.
HF Sinclair: The company is headquartered in Dallas, TX, is an independent energy company that produces and markets high value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products primarily in the Southwest U.S. and the Rocky Mountains, extending into the Pacific Northwest and in other neighboring Plains states.
HF Sinclair is an impressive value investment pick with its Zacks Rank #1 and a Value Score of A. Apart from a discounted PEG and P/E, it also has an impressive long-term historical growth rate of 35.8%.
Futu: It provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.
Futu can also be an impressive value investment pick with its Zacks Rank #1 and a Value Score of B. Apart from a discounted PEG and P/E, the stock has an impressive long-term expected growth rate of 17.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
BAE Systems: It provides defense, aerospace and security solutions worldwide. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, and Maritime.
BAE Systems has an impressive long-term historical growth rate of 14%. The stock currently has a Value Score of B and a Zacks Rank #1.
American Eagle: Based in Pittsburgh, PA, American Eagle is a specialty retailer of casual apparel, accessories and footwear for men and women aged 15–25 years. American Eagle, along with its subsidiaries, engages in the designing and marketing of casual clothing. The company’s assortment includes jeans, cargo pants, graphic T-shirts as well as a range of accessories, outerwear and footwear.
American Eagle has an impressive long-term historical growth rate of 15.3%. The stock currently has a Value Score of A and a Zacks Rank #1.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Bae Systems PLC (BAESY) : Free Stock Analysis Report
Futu Holdings Limited Sponsored ADR (FUTU) : Free Stock Analysis Report
HF Sinclair Corporation (DINO) : 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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Here are five out of the seven stocks that qualified the screening: Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. These include Dell Technologies DELL, HF Sinclair Corporation DINO, Futu Holdings FUTU, BAE Systems plc BAESY and American Eagle Outfitters AEO. Dell currently holds a Zacks Rank #1 and has a Value Score of A.
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These include Dell Technologies DELL, HF Sinclair Corporation DINO, Futu Holdings FUTU, BAE Systems plc BAESY and American Eagle Outfitters AEO. Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Bae Systems PLC (BAESY) : Free Stock Analysis Report Futu Holdings Limited Sponsored ADR (FUTU) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are five out of the seven stocks that qualified the screening: Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Bae Systems PLC (BAESY) : Free Stock Analysis Report Futu Holdings Limited Sponsored ADR (FUTU) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report To read this article on Zacks.com click here. These include Dell Technologies DELL, HF Sinclair Corporation DINO, Futu Holdings FUTU, BAE Systems plc BAESY and American Eagle Outfitters AEO. Here are five out of the seven stocks that qualified the screening: Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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These include Dell Technologies DELL, HF Sinclair Corporation DINO, Futu Holdings FUTU, BAE Systems plc BAESY and American Eagle Outfitters AEO. Here are five out of the seven stocks that qualified the screening: Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. Dell currently holds a Zacks Rank #1 and has a Value Score of A.
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0cd49347-cbf4-45c3-b2b1-0a1b99ced09e
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725304.0
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2023-10-03 00:00:00 UTC
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Morgan Stanley Maintains Dell Technologies Inc - Class C (DELL) Overweight Recommendation
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DELL
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https://www.nasdaq.com/articles/morgan-stanley-maintains-dell-technologies-inc-class-c-dell-overweight-recommendation-2
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nan
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nan
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Fintel reports that on October 3, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation.
Analyst Price Forecast Suggests 13.26% Downside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents a decrease of 13.26% from its latest reported closing price of 67.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
What is the Fund Sentiment?
There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 19.09%. Total shares owned by institutions increased in the last three months by 5.76% to 218,761K shares.
The put/call ratio of DELL is 0.63, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.05% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on October 3, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 13.26% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on October 3, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 13.26% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Fintel reports that on October 3, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 13.26% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Analyst Price Forecast Suggests 13.26% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. There are 1127 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 21 owner(s) or 1.90% in the last quarter. Fintel reports that on October 3, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation.
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f4188024-6d1f-4f4c-a851-3813c56921df
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725305.0
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2023-10-03 00:00:00 UTC
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CoStar's (CSGP) Homes.com Surpasses 100 Million Visitors
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DELL
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https://www.nasdaq.com/articles/costars-csgp-homes.com-surpasses-100-million-visitors
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nan
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nan
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CoStar Group CSGP recently announced a significant achievement for Homes.com, which surpassed a remarkable 100 million unique visitors in September. This milestone solidifies Homes.com as one of the top two real estate portals in the United States, outpacing competitors like Realtor.com and Redfin.
Homes.com's distinction lies in its innovative "your listing, your lead" approach, facilitating direct connections between home shoppers and listing agents for a more informative and personalized experience. Its user-friendly interface, free from distracting ads and neighborhood guides, redefines how people discover their dream homes.
Expanding Portfolio & Partner Base Aids Prospects
CoStar Group shares have declined 1.7% year to date, underperforming the Zacks Computer and Technology sector’s growth of 33.8%.
CoStar Group, Inc. Price and Consensus
CoStar Group, Inc. price-consensus-chart | CoStar Group, Inc. Quote
CoStar Group has been riding on an expanding partner base. In August, CSGP partnered with Richmond Public Schools, spearheading the Ultimate Backpack Supply Drive, a program providing over 35,000 backpacks filled with school essentials to students, furthering their commitment to education and community support.
As part of CSGP’s ongoing business expansion, CoStar Group is enriching the content on Homes.com with immersive neighborhood videos, informative articles, and captivating photographs, enhancing the user experience.
CSGP has introduced the Smith Travel Research ("STR") product within CoStar, with more than 60 customer migrations already completed and an additional 250 customer transitions underway. This transition is expected to be completed in around one year, encompassing over 900 corporate accounts and 6,000 independent hotels.
CoStar Group enhances agent engagement by connecting with their vast network of 1.1 million real estate agents via Homesnap Pro. This involves merging Homesnap Pro's features into Homes.com and shifting agents to Homes Pro, providing them unique benefits and improved tools in a user-friendly "your listing, your lead" system.
For the third quarter of fiscal 2023, CSGP anticipates revenues between $622 million and $627 million, indicating growth of approximately 12% year over year at the midpoint. The Zacks Consensus Estimate for the current quarter is pegged at $625.27 million, suggesting a 12.27% growth year over year.
For fiscal 2023, CSGP anticipates total revenues between $2.45 billion to $2.46 billion, indicating a year-over-year growth of 13% at the midpoint.
Zacks Rank & Stocks to Consider
Currently, CSGP has a Zacks Rank #2 (Buy).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 68.3%, 206.5% and 69.7%, respectively, year to date.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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 credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent 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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
CoStar Group, Inc. (CSGP) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.3%, 206.5% and 69.7%, respectively, year to date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.3%, 206.5% and 69.7%, respectively, year to date.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.3%, 206.5% and 69.7%, respectively, year to date.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.3%, 206.5% and 69.7%, respectively, year to date.
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271e2546-e1df-4035-ba14-c0dfc7645eb8
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725306.0
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2023-10-02 00:00:00 UTC
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Momentum Monday: Top Ranked Stocks are Setting Up for a Year End Rally
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DELL
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https://www.nasdaq.com/articles/momentum-monday%3A-top-ranked-stocks-are-setting-up-for-a-year-end-rally
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nan
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nan
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Want to start the week ahead of the pack? Check out Momentum Mondays, where I cover the leading breakout stocks in the market, summarize the major events of the week ahead, and prepare investors for profitable trading.
Today, we will be taking a look at the broad stock market indexes to summarize the action of the last few weeks, then we will take a look at theeconomic calendarto address any market moving data coming our way. And finally, I will share four compelling technical trade setups in stocks with top Zacks Ranks.
Market Summary
The stock market has experienced a challenging couple of weeks with the S&P 500 selling off -8% from its high in late July, while the Nasdaq 100 corrected by nearly -10%. The main driver of this sell off was likely rhetoric from Jerome Powell and the Fed regarding its interest rate policy.
At the most recent meeting Fed Chair Powell basically indicated that the Fed would maintain rates ‘higher for longer,’ as he and his committee see a robust economic landscape, with near full employment, and strong growth prospects, but inflation that remains too high. This hawkish take is understandable, and with the winds of a strong economy at its back, the Fed has the flexibility to be hawkish.
However, I think this was Jerome Powell doing his best to manage investor expectations. By presenting the most conservative plan going forward, he gives himself the opportunity to become more dovish if unemployment picks up, the economy slows, or inflation surprises to the downside.
Furthermore, even though some market participants have been rattled by the action in stocks over the last couple of weeks, I think the setup is quite bullish into the year end.
The Nasdaq 100 has found a convincing level of support and looks to be building out a bull flag. If the index can hold this level, I think investors can expect more upside here. Additionally, the final quarter of the year is historically the strongest period according to seasonality studies, adding another bullish catalyst to the mix.
Image Source: TrtadingView
Economic Data
It is a relatively busy week regarding economic data releases, although the really important data will come out Thursday and Friday morning.
On Monday we will see Manufacturing PMI, ISM Manufacturing and Construction spending. Tuesday, Job openings data. Wednesday, ADP employment, services PMI, and ISM services. Then on Thursday, we get the Initial Jobless Claims numbers and US trade deficit, and Friday will be the US unemployment report, which includes the unemployment rate, and wage data.
As I noted before, employment data is going to be critical to the Fed’s interest rate policy going forward. The market is currently in this odd environment where weak economic data, like a higher unemployment number may actually be bullish. This is because the market can then expect Jerome Powell to become more dovish, and ease off the ‘higher for longer,’ rhetoric.
Trade Setups
Momentum breakout traders do best when they focus on the leading stocks in the market. Fortunately for us, the Zacks Rank helps us find stocks with strong momentum that also have upward trending earnings revisions.
Nvidia NVDA, the strongest stock in the S&P 500 YTD, continues to build bullish setups. Reflecting its strongly upward trending earnings revisions, the stock has a Zacks Rank #1 (Strong Buy) rating and sits in the top 14% of the Zacks Industry Rank.
Nvidia stock broke out of the bullish wedge late last week but is still worth considering for a buy on a pull back. So long as the stock holds above the major level of support at $405, it should rally to new all-time highs.
Image Source: TradingView
Vistra VST, and electrical and natural gas utility company continues to build bullish patterns. In addition to a Zacks Rank #1 (Strong Buy) rating, VST also has generous 2.5% dividend yield, and a forward P/E ratio of just 9.4x.
If Vistra stock can trade above the $33.80 level, it would signal a breakout, and likely push the stock higher. Alternatively, if the price can’t hold above the $32.80 level and closes below that, the trade setup would be invalid, and investors may want to look for another opportunity.
Image Source: TradingView
Copart CPRT, a company not everyone is familiar with, is the country’s leading automotive auction and remarketing company with a commanding 40% market share. It too boasts a Zacks Rank #1 (Strong Buy) rating and sits in the #1 position of the Zacks Industry Rank.
Copart stock has been building out this bullish pennant for nearly five months, and the consolidation continues to get tighter and tighter. If the stock can move above the $44.50 level, it would signal a breakout and should send the stock higher. However, if it loses the level of support at $42.75, the setup is broken.
Image Source: TradingView
Lastly, Dell Technologies DELL looks to be one of the most promising stocks in the market today. Like the others, DELL enjoys a Zacks Rank #1 (Strong Buy) and has a reasonable valuation of 11x forward earnings.
After gapping higher at the beginning of September, Dell Technologies stock has held near the highs, and is building out a prototypical bull flag. If the stock can trade above the $69.60 level, it would indicate a breakout, and can be considered a buy. But if it closes below the $67.40 level, the setup will be invalid, and investors may want wait for another opportunity to purchase the stock.
Image Source: TradingView
Bottom Line
Even the best trading setups fail. Although these stocks have numerous bullish catalysts in their favor, traders should always stick to a trading plan, and most importantly prioritize prudent risk management. Always know the maximum amount of money you can lose on a trade and respect your stop losses.
Best of luck this week!
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Copart, Inc. (CPRT) : Free Stock Analysis Report
Vistra Corp. (VST) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: TradingView Lastly, Dell Technologies DELL looks to be one of the most promising stocks in the market today. Like the others, DELL enjoys a Zacks Rank #1 (Strong Buy) and has a reasonable valuation of 11x forward earnings. After gapping higher at the beginning of September, Dell Technologies stock has held near the highs, and is building out a prototypical bull flag.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Copart, Inc. (CPRT) : Free Stock Analysis Report Vistra Corp. (VST) : Free Stock Analysis Report To read this article on Zacks.com click here. Image Source: TradingView Lastly, Dell Technologies DELL looks to be one of the most promising stocks in the market today. Like the others, DELL enjoys a Zacks Rank #1 (Strong Buy) and has a reasonable valuation of 11x forward earnings.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Copart, Inc. (CPRT) : Free Stock Analysis Report Vistra Corp. (VST) : Free Stock Analysis Report To read this article on Zacks.com click here. Image Source: TradingView Lastly, Dell Technologies DELL looks to be one of the most promising stocks in the market today. Like the others, DELL enjoys a Zacks Rank #1 (Strong Buy) and has a reasonable valuation of 11x forward earnings.
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Image Source: TradingView Lastly, Dell Technologies DELL looks to be one of the most promising stocks in the market today. Like the others, DELL enjoys a Zacks Rank #1 (Strong Buy) and has a reasonable valuation of 11x forward earnings. After gapping higher at the beginning of September, Dell Technologies stock has held near the highs, and is building out a prototypical bull flag.
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9e51d148-2e85-4caf-b579-9806b175901b
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725307.0
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2023-10-02 00:00:00 UTC
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Better Artificial Intelligence Stock: Nvidia vs. Super Micro Computer
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DELL
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https://www.nasdaq.com/articles/better-artificial-intelligence-stock%3A-nvidia-vs.-super-micro-computer
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nan
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nan
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The current market is torn between the believers in artificial intelligence and the skeptics. For the believers, this year's outsize move in AI stocks is just a taste of things to come, given that we are still in the early innings of this technological sea change. For skeptics, today's huge growth in AI-related names amounts to a pull-forward of demand and a near-term bubble.
But if you're in the former camp, which I lean toward, then the August-to-September pullback presents an opportunity to get in on long-term AI winners after short-term traders have taken profits. Meanwhile, two of the biggest winners year to date are Nvidia (NASDAQ: NVDA) and Super Micro Computer (NASDAQ: SMCI). Having roughly tripled this year, both stocks have also pulled back 15.5% and 27.9%, respectively, from their recent all-time highs.
For those looking to get in on the AI megatrend, which is the better buy right now?
Nvidia's and Super Micro's AI advantages
Why have these two stocks been such AI winners? Because each has been building a business model optimized for AI computing not just this year, but actually over the course of the last couple of decades. So when the AI trend started taking off in earnest, both were in pole position to capitalize.
For Nvidia, its background was in high-end graphics chips for gamers. But in 2006, Jensen Huang and his team realized that GPUs could be programmed for general-purpose computing, ideal for massive workloads that needed to be processed in parallel. Thus, the company developed its CUDA software platform, allowing developers to use GPUs not just for graphics but also for high-performance computing.
So, this year's gains are actually far from an "overnight success" but rather one nearly 20 years in the making.
Similarly, Super Micro Computer has long been pegged as a "commodity" server provider in a highly competitive, low-margin industry; however, it's more differentiated than many think. In fact, SMCI has been profitable every year since its founding in 1993.
As CEO Charles Liang explained in an interview just last week, Super Micro was founded and run in Silicon Valley, where costs are higher than for Asian original design manufacturers (ODMs). Therefore, SMCI had to differentiate, and it does so in three main ways.
First, it developed a "building block" architecture for its servers, rather than mass-producing optimized models. By optimizing each server component at a more micro level, SMCI can mass-customize servers for specific applications and exacting customer requirements. Second, the company has been focused on energy-efficient designs and cooling systems for about two decades, long before it was fashionable. With AI solutions being incredibly power-hungry and heat-generative, SMCI's energy-efficient designs are also in demand with AI. And finally, SMCI's Silicon Valley presence enables a closer working relationship with Nvidia and other chipmakers, allowing Super Micro to often be first to market with the latest designs and solutions.
Image source: Getty Images.
How strong is the moat?
Nvidia has a strong head start in AI, but it is unclear if it will run away with the vast majority of AI chip spend. Certainly, its lead looks relatively safe for the next few quarters. However, Advanced Micro Devices (NASDAQ: AMD) will be ramping up its MI300 AI chip soon, and Intel's (NASDAQ: INTC) Gaudi accelerators are already in use, with a leading-edge version called Falcon Shores set to hit the market in 2025.
Nvidia's CUDA software will make its lead difficult to overcome. But AMD, Intel, and the rest of Big Tech are also collaborating on building out open-source AI programming languages that can program not only Nvidia GPUs but also others. So while its lead is formidable, Nvidia has a lot of well-funded companies gunning for its hardware and software moats.
Meanwhile, if one is already a higher-end standard-model server original equipment manufacturer such as Dell or HP Enterprise, it will probably be somewhat difficult to copy Super Micro's building block modular solutions, as these high-end server providers would have to change their entire manufacturing architecture to do so. But Asian ODMs, which sell individual server components in "white box" solutions, may be able to compete in modular designs in the future. However, it will also be difficult, as most component ODMs don't do the kinds of optimized integration Super Micro does.
So looking two or three years out, it's possible competitors can catch up to Nvidia and Super Micro, if they invest and innovate aggressively. But both companies seem to have formidable moats for the next couple of years.
Valuation based on AI growth
Obviously, Nvidia looks much more expensive than Super Micro, at 105 times earnings versus Super Micro's 23 P/E ratio. But these trailing ratios don't tell us much, as the determinant of value will be related to each company's forward growth.
Of note, AMD's Lisa Su recently forecast that AI accelerators will grow at a 50% annualized rate, from a $30 billion market recently to a $150 billion market by 2027. Meanwhile, back in May, research firm Trendforce estimated that AI server shipments would grow nearly 40% this year, then at a high-20% rate for the next three years through 2026. However, this is for shipments, not revenue. Given that AI-related servers are much more expensive than regular servers, revenue growth associated with shipments could be higher.
Assuming a 50% compound annual growth rate for 2024 through 2026, both Nvidia and Super Micro look much cheaper than their trailing valuations suggest.
Nvidia made over $10 billion in data center revenue last quarter out of $13.5 billion in total revenue, and it has guided for $16 billion in total revenue next quarter. That seems to put it on pace for about $40 billion in data-center revenue in 2023. Assuming a 50% growth rate from 2024 through 2026, Nvidia's data-center revenue would reach $135 billion, with total revenue probably closer to $150 billion or so.
Nvidia's non-GAAP net profit margin was a stunning 50% last quarter; assuming it can maintain that pace, Nvidia would be earning about $75 billion in 2026. If achieved, Nvidia trades at just 14.3 times that 2026 earnings projection today.
Meanwhile, Super Micro earned 52% of revenue from AI systems last quarter, equating to $1.13 billion. Assuming continued growth, Super Micro is probably on track to make $4 billion in AI-related revenue in 2023 out of about $8 billion in total revenue. Assuming a 50% growth rate in AI servers and modest growth in non-AI servers, AI-related revenue would reach $13.5 billion in 2026 and total revenue would be around $18 billion. At a 10% net profit margin -- margins were 9% over the past 12 months -- Super Micro would be earning $1.8 billion in 2026. Today, Super Micro trades at just eight times that profit outlook.
Can Nvidia and Super Micro do better than these figures?
Of course, Nvidia typically gets a big premium today by virtue of its having a current monopoly on general-purpose AI GPUs, with an estimated 80% to 95% market share.
Meanwhile, Super Micro has only an estimated 7% market share of the global server market, according to analysts at Barclays. However, within the AI server market, analysts at Northland Capital recently estimated that Super Micro's market share jumped from 7% to 17% over the course of the June quarter -- a rather stunning improvement in a short time period. The 50% of revenue from AI systems was also much higher than at its peers, who generally reported about 20% of revenue from AI systems last quarter.
So while Nvidia is looking strong today, it seems it may be easier for Super Micro to expand on its 17% AI market share than Nvidia will be able to expand on its 90% or so market share. And given that Super Micro can make servers for Nvidia, AMD, or Intel, it can still grow even if these challengers eventually make inroads.
The verdict
I own Super Micro and not Nvidia. But if I had to buy one today, it would be a difficult choice. After all, Nvidia isn't that much more expensive based on these very rough 2026 projections.
Still, I think will be an easier task for Super Micro to improve on its lower market share and expand its lower margin today than it will be more Nvidia to improve its already-high market share and margins. That's why even though Nvidia may have more proprietary AI technology and thus be the more essential AI company, Super Micro may actually be the better AI stock, given its lower valuation and prospects for improvement.
After all, SMCI has actually outperformed Nvidia's stock this year. While both should continue to do well, I'd expect SMCI's stock to continue doing a tad better going forward. But I also wouldn't scoff at anyone picking Nvidia or owning both stocks for their high-growth AI plays.
10 stocks we like better than Nvidia
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 Nvidia wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Billy Duberstein has positions in Super Micro Computer and has the following options: short January 2025 $110 puts on Super Micro Computer, short January 2025 $125 puts on Super Micro Computer, short January 2025 $130 puts on Super Micro Computer, short January 2025 $280 calls on Super Micro Computer, short January 2025 $380 calls on Super Micro Computer, and short January 2025 $85 puts on Super Micro Computer. His clients may own shares of the companies mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool recommends Barclays Plc, Intel, and Super Micro Computer 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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Meanwhile, if one is already a higher-end standard-model server original equipment manufacturer such as Dell or HP Enterprise, it will probably be somewhat difficult to copy Super Micro's building block modular solutions, as these high-end server providers would have to change their entire manufacturing architecture to do so. But in 2006, Jensen Huang and his team realized that GPUs could be programmed for general-purpose computing, ideal for massive workloads that needed to be processed in parallel. As CEO Charles Liang explained in an interview just last week, Super Micro was founded and run in Silicon Valley, where costs are higher than for Asian original design manufacturers (ODMs).
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Meanwhile, if one is already a higher-end standard-model server original equipment manufacturer such as Dell or HP Enterprise, it will probably be somewhat difficult to copy Super Micro's building block modular solutions, as these high-end server providers would have to change their entire manufacturing architecture to do so. However, within the AI server market, analysts at Northland Capital recently estimated that Super Micro's market share jumped from 7% to 17% over the course of the June quarter -- a rather stunning improvement in a short time period. See the 10 stocks *Stock Advisor returns as of September 25, 2023 Billy Duberstein has positions in Super Micro Computer and has the following options: short January 2025 $110 puts on Super Micro Computer, short January 2025 $125 puts on Super Micro Computer, short January 2025 $130 puts on Super Micro Computer, short January 2025 $280 calls on Super Micro Computer, short January 2025 $380 calls on Super Micro Computer, and short January 2025 $85 puts on Super Micro Computer.
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Meanwhile, if one is already a higher-end standard-model server original equipment manufacturer such as Dell or HP Enterprise, it will probably be somewhat difficult to copy Super Micro's building block modular solutions, as these high-end server providers would have to change their entire manufacturing architecture to do so. So while Nvidia is looking strong today, it seems it may be easier for Super Micro to expand on its 17% AI market share than Nvidia will be able to expand on its 90% or so market share. That's why even though Nvidia may have more proprietary AI technology and thus be the more essential AI company, Super Micro may actually be the better AI stock, given its lower valuation and prospects for improvement.
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Meanwhile, if one is already a higher-end standard-model server original equipment manufacturer such as Dell or HP Enterprise, it will probably be somewhat difficult to copy Super Micro's building block modular solutions, as these high-end server providers would have to change their entire manufacturing architecture to do so. Nvidia's and Super Micro's AI advantages Why have these two stocks been such AI winners? Valuation based on AI growth Obviously, Nvidia looks much more expensive than Super Micro, at 105 times earnings versus Super Micro's 23 P/E ratio.
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1a80c300-7086-4734-a1f0-a659e0fefd97
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725308.0
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2023-09-29 00:00:00 UTC
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CGI Group (GIB) Expands Clientele With A New AOUSC Contract
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DELL
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https://www.nasdaq.com/articles/cgi-group-gib-expands-clientele-with-a-new-aousc-contract
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nan
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nan
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CGI Group GIB secured a pivotal 10-year contract with the Administrative Office of the U.S. Courts ("AOUSC") worth up to $143.5 million.
This indefinite-delivery, indefinite-quantity ("IDIQ") agreement marks CGI's commitment to delivering strategic consulting, advisory, application operations, management, hosting and support services powered by their innovative momentum solution.
CGI's contract with the U.S. Courts includes a one-year base period and nine optional one-year extensions to support digital transformation. The momentum solution streamlines finance processes, and the expert team ensures cost-effective solutions.
CGI’s Prospects Bright in 2023
CGI is benefiting from an expanding clientele and strong partner base. Shares have returned 14.6%, outperforming the Zacks Computer-Services industry’s 6.0% year to date. However, it has underperformed the Zacks Computer & Technology sector’s return of 31.4%.
CGI has been benefiting from solid demand for its business solutions. In the fiscal third quarter, the IP portfolio grew 12.4% year over year or 7.7% at constant currency. The number of consultants and professionals increased year over year by 3K, totaling 91,500 worldwide.
CGI Group, Inc. Price and Consensus
CGI Group, Inc. price-consensus-chart | CGI Group, Inc. Quote
Expanding clientele has been a critical catalyst. CGI’s solutions were selected by the likes of the U.S. Environmental Protection Agency and Bankgirot (Sweden’s payments clearinghouse), a government ministry in Germany.
Recently, CGI unveiled its All-Payments solution, certified for use on the Federal Reserve Bank's FedNow Service, offering financial institutions rapid deployment capabilities.
CGI also inked a partnership with Alimentation Couche-Tard worth $380 million to deliver managed IT services. As part of the ten-year partnership, CGI will deliver a comprehensive range of IT services and infrastructure support for the mission-critical business functions of Couche-Tard.
CGI anticipates robust growth in the face of challenging economic conditions, with a more than 33% increase in its managed services pipeline for industries such as manufacturing, retail and energy and utilities for the coming year.
Meanwhile, its IP pipeline is up by 30%. In government health care and insurance, a well-balanced pipeline shows a significant year-over-year increase of 20% across consulting, system integration, and managed services, reflecting strong demand for its offerings amid ongoing digitalization.
CGI is also investing in developing AI-based solutions and services and plans to invest $1 billion over the next three years.
The Zacks Consensus Estimate for fiscal 2023 and fiscal 2024 revenues are pegged at $10.93 billion and $11.4 billion, indicating growth of 8.42% and 4.36%, respectively.
Zacks Rank & Stocks to Consider
Currently, CGI has a Zacks Rank #4 (Sell).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 70.3%, 195.4% and 70.4%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
CGI Group, Inc. (GIB) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 70.3%, 195.4% and 70.4%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CGI Group, Inc. (GIB) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 70.3%, 195.4% and 70.4%, respectively, on a year-to-date basis.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CGI Group, Inc. (GIB) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 70.3%, 195.4% and 70.4%, respectively, on a year-to-date basis.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 70.3%, 195.4% and 70.4%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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6721fe51-c29a-4cb5-b8d9-8bb247b53a3e
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725309.0
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2023-09-29 00:00:00 UTC
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Trimble (TRMB) Teams Up With Meta to Launch SketchUp Viewer
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DELL
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https://www.nasdaq.com/articles/trimble-trmb-teams-up-with-meta-to-launch-sketchup-viewer
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nan
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nan
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Trimble TRMB collaborated with Meta Platforms META to introduce SketchUp Viewer to the latter’s mixed-reality headset lineup, Quest.
Notably, the SketchUp Viewer Virtual Reality (VR) tool is available for the Meta Quest 2, Meta Quest Pro and Meta Quest 3 devices, enabling presentation and preview of 3D SketchUp models.
Further, SketchUp Viewer for Quest allows both technical and non-technical Quest VR headset users to conduct design reviews based on experience, promoting informed decision-making and collaboration on the go, in the office, or on-site.
Additionally, the VR tool enhances communication and collaboration by enabling faster design iterations, identifying and preventing costly errors and real-time exploration of ideas.
We note that Trimble is expected to gain solid traction among interior designers, architects, engineers and construction professionals on the back of the latest launch.
This, in turn, has added strength to the company’s Buildings and Infrastructure segment offerings.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Growing Focus in Buildings and Infrastructure Segment
The latest move is in sync with Trimble’s growing efforts to strengthen its Buildings and Infrastructure segment across various end markets.
Apart from the latest launch, it introduced the Trimble Siteworks Machine Guidance Module for contractors, expanding their software capabilities from surveying and layout to on-machine excavator guidance and operator assistance.
Further, Trimble partnered with Purdue University to establish a cutting-edge Trimble Technology Lab at the School of Construction Management Technology, focusing on teaching and research in construction management technology.
Notably, the lab will showcase TRMB's top construction solutions, including the Trimble XR10 HoloLens hardhat, Trimble Business Center Infrastructure Construction edition, Tekla Structures and SketchUp 3D modeling software.
Wrapping Up
All the above-mentioned endeavors are expected to aid the Buildings and Infrastructure segment’s performance in the days ahead.
For second-quarter 2023, the Buildings and Infrastructure segment generated revenues of $410 million, which rose 7% on a year-over-year basis.
Notably, revenues in the underlined segment contributed 41.3% of total revenues.
Our model estimates 2023 Buildings and Infrastructure revenues to be $1.63 billion, indicating 9% year-over-year growth.
Strength in the underlined segment will likely contribute to its overall financial performance in the near term and instill investor optimism in the stock.
For 2023, Trimble expects total revenues in the band of $3.845-$3.925 billion.
However, macroeconomic headwinds continue to remain concerns for the company.
Notably, TRMB has gained 3.7% in the year-to-date period, underperforming the industry’s rally of 14.5%.
Zacks Rank & Stocks to Consider
Currently, Trimble carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Dell Technologies DELL and Badger Meter BMI. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 70.3% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Badger Meter shares have gained 42.6% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 15.05%.
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
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Trimble Inc. (TRMB) : 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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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL and Badger Meter BMI. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter carries a Zacks Rank #2 (Buy). Dell Technologies shares have gained 70.3% in the year-to-date period.
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While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter carries a Zacks Rank #2 (Buy). Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Trimble Inc. (TRMB) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL and Badger Meter BMI.
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Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Trimble Inc. (TRMB) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL and Badger Meter BMI. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter carries a Zacks Rank #2 (Buy).
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Dell Technologies shares have gained 70.3% in the year-to-date period. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL and Badger Meter BMI. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter carries a Zacks Rank #2 (Buy).
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215ec845-626d-49d9-92d8-114059c2bd14
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725310.0
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2023-09-28 00:00:00 UTC
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Meta Platforms (META) Expands AI Portfolio With New Solutions
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DELL
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https://www.nasdaq.com/articles/meta-platforms-meta-expands-ai-portfolio-with-new-solutions
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nan
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nan
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Meta Platforms META is expanding its artificial intelligence (AI) solutions portfolio with the launch of AI stickers across its apps. Through these AI stickers, which are powered by the Llama 2 and Emu (model for image generation), users can generate customized stickers for chats and stories.
Over the next month, this new feature will be available to select English-language users across WhatsApp, Messenger, Instagram and Facebook Stories.
Meta is set to bring AI-based editing tools that will help users edit images or even co-create them with friends on Instagram. The company is set to launch features like Restyle and Backdrop that leverage Emu. Backdrop also leverages learnings from Meta’s Segment Anything Model.
The company is also launching Meta AI in beta, an advanced conversational assistant, which will be available on WhatsApp, Messenger and Instagram. Meta AI will also be available on Ray-Ban Meta smart glasses and Quest 3.
Meta, in partnership with EssilorLuxottica, is launching its next-gen Ray-Ban Meta smart glasses collection. Starting at $299, the latest glasses will be available beginning Oct 17 in retail stores. Moreover, Quest 3, Meta’s mixed-reality headset will be available beginning Oct 10.
Meta is also launching 28 more AIs in beta, with unique interests and personalities including Snoop Dogg, Tom Brady, Kendall Jenner and Naomi Osaka.
Meta’s Prospects Bright in 2023
Meta shares have returned 147.4% year to date, outperforming the Zacks Computer & Technology sector’s gain of 30.8%.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote
It 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.
Family Daily Active People or DAP, defined as a registered and logged-in user who visited at least one of the Family products (Facebook, Instagram, Messenger and/or WhatsApp) on a given day, were 3.07 billion, up 6.6% year over year in the second quarter of 2023.
The company 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.
Meta expects total revenues between $32 billion and $34.5 billion for the third quarter of 2023. Favorable forex is expected to aid year-over-year top-line growth by roughly 3%.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $33.41 billion, indicating 20.55% year-over-year growth.
The consensus mark for third-quarter earnings is pegged at $3.53 per share, unchanged over the past 30 days.
Zacks Rank & Stocks to Consider
Meta currently has a Zacks Rank #3 (Hold).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 68.9%, 190.6% and 70.3%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLK are pegged at 12%,13.5% and 26.6%, respectively.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.9%, 190.6% and 70.3%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLK are pegged at 12%,13.5% and 26.6%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 68.9%, 190.6% and 70.3%, respectively, on a year-to-date basis.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.9%, 190.6% and 70.3%, respectively, on a year-to-date basis.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 68.9%, 190.6% and 70.3%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLK are pegged at 12%,13.5% and 26.6%, respectively.
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da5728ca-ad5e-4810-9097-f3fa853e78a4
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725311.0
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2023-09-28 00:00:00 UTC
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DigitalOcean (DOCN) Empowers Startups With Managed Kafka
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DELL
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https://www.nasdaq.com/articles/digitalocean-docn-empowers-startups-with-managed-kafka
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nan
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nan
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DigitalOcean Holdings DOCN recently introduced Managed Kafka, a data streaming platform, as a service offering for Apache Kafka. Managed Kafka simplifies Kafka administration for small and medium-sized businesses (SMBs) operating across the Internet of Things, video streaming, data analytics, gaming and e-commerce domains.
DigitalOcean Managed Kafka offers scalability, proactive maintenance alerts, end-to-end security, and budget-friendly pricing starting at $147 for a three-node cluster.
DigitalOceanis is strengthening its footprint among SMBs through its expanding portfolio that includes products with GPUs AI/ML apps, premium CPU-Optimized Droplets, and enhanced memory and storage for Basic Premium Droplets and Object Storage in the Bangalore data center.
Expanding Portfolio Aids Prospect
DigitalOcean’s shares have declined 8.4% year to date, underperforming the Zacks Computer and Technology sector’s growth of 30.8%. The underperformance can be attributed to the intensifying challenges in the competitive cloud infrastructure market.
DigitalOcean has been riding on an expanding clientele.
DigitalOcean Holdings, Inc. Price and Consensus
DigitalOcean Holdings, Inc. price-consensus-chart | DigitalOcean Holdings, Inc. Quote
Builders and Scalers (accounted for 86% of revenues), representing customers spending more than $50 per month, witnessed an impressive 42% year-over-year growth in the second quarter of 2023.
DigitalOcean added more than 3,600 builders and scalers in the second quarter compared with approximately 2,300 it added in the first quarter of 2023.
This surge in Builders and Scalers clientele played a pivotal role in achieving a remarkable 28% year-over-year growth in revenue. Average Revenue Per Customer (ARPU) was $90.84, reflecting a 14% increase.
For the third quarter of fiscal 2023, DigitalOcean expects total revenues between $172.5 million and $174 million. The Zacks Consensus Estimate for the third quarter is currently pegged at $173.51 million, suggesting a year-over-year growth of 14.06%.
For fiscal 2023, DOCN anticipates total revenues between $680 million and $685 million.
Zacks Rank & Stocks to Consider
Currently, DOCN carries a Zacks Rank #3 (Hold).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 69%, 190.6% and 70.3%, respectively, year-to-date.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
DigitalOcean Holdings, Inc. (DOCN) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 69%, 190.6% and 70.3%, respectively, year-to-date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 69%, 190.6% and 70.3%, respectively, year-to-date.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 69%, 190.6% and 70.3%, respectively, year-to-date.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 69%, 190.6% and 70.3%, respectively, year-to-date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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b26a9dac-d886-4cae-9fb4-847c89557425
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725312.0
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2023-09-28 00:00:00 UTC
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AMD Expands Fintech Footprint With Alveo UL3524 FPGA Launch
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DELL
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https://www.nasdaq.com/articles/amd-expands-fintech-footprint-with-alveo-ul3524-fpga-launch
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nan
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nan
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Advanced Micro Devices AMD is expanding its FPGA portfolio with the launch of the Alveo UL3524 accelerator card, designed for ultra-low latency electronic trading applications. The latest state-of-the-art FPGA solution will help AMD expand its footprint in the fintech domain.
Powered by a custom 16 nanometer Virtex UltraScale+ FPGA, the Alveo UL3524 accelerator card delivers seven times lower latency compared with the previous generation FPGA technology. This helps it achieve less than three nanoseconds of FPGA transceiver latency for superfast trading.
This superlative performance is achieved due to a novel transceiver architecture with hardened, optimized network connectivity cores. Alveo UL3524 accelerator card features 64 ultra-low latency transceivers, 780K LUTs of FPGA fabric, and 1,680 DSP slices of compute that accelerate custom trading algorithms in hardware.
In terms of software, AMD is offering developers access to the open-sourced and community-supported FINN development framework. FINN uses PyTorch and neural network quantization techniques that help developers reduce the size of AI models while retaining accuracy and compiling to hardware IP.
AMD’s strong partner base is expected to drive the adoption of the new FPGA solutions. Alpha Data, Exegy, and Hypertec are currently offering solutions leveraging the Alveo UL3524 accelerator card and Virtex UltraScale+ FPGA.
Advanced Micro Devices, Inc. Price and Consensus
Advanced Micro Devices, Inc. price-consensus-chart | Advanced Micro Devices, Inc. Quote
Alpha Data’s ADA-R9100 rack-mount appliance is supported by Virtex UltraScale+ FPGA. Exegy is supporting the Alveo UL3524 card with its nxFramework, a software and hardware development environment customized for creating and maintaining ultra-low latency FPGA applications within the financial industry.
Meanwhile, Hypertec has optimized its ORION HF X410R-G6 High Frequency Server for the Alveo UL3524, with a custom cooling system to deploy in a 1U server form factor.
AMD Benefits From Strong Portfolio & Partner Base
AMD shares have returned 51.4%, outperforming the Zacks Computer & Technology sector’s growth of 30.8% on a year-to-date basis. The outperformance can be attributed to a robust product portfolio and expanding partner base.
AMD continues to strengthen its footprint in the enterprise data center arena by leveraging the power of fourth-generation EPYC CPUs and Pensando data processing units (DPUs).
At VMware Explore 2023, AMD demonstrated that the combination of a fourth-generation EPYC 9654 CPU and a Pensando DPU delivers a staggering 3.3 times boost in Redis application performance and a 1.75 times surge in aggregate network throughput compared to a fourth-generation EPYC system equipped with standard NICs.
Moreover, servers with 2P fourth-generation EPYC 9654 CPUs use up to 35% fewer servers in a setup running 2000 virtual machines (VMs) compared with 2P Xeon 8490H-based servers from Intel INTC.
The combination of EPYC CPUs, Pensando DPUs and adaptive computing products is helping AMD to solidify its position as a go-to solution for enhanced virtualized environments. The company’s ongoing collaboration with VMware is helping customers become more efficient and agile in their digital transformation journey.
AMD, along with its partners, continues to offer solutions that enable greater data center consolidation. The company is benefiting from the impressive performance of EPYC CPUs, delivering a 1.7 times performance increase in combination with 2P EPYC 9654 CPUs compared to 2P Intel Xeon 8490H-based servers running VMmark.
Moreover, AMD’s partnerships with the likes of Dell Technologies DELL, Microsoft MSFT, Amazon Web Services (“AWS”), Alibaba and Oracle have been key catalysts. Cloud providers like Microsoft, AWS, Alibaba and Oracle deployed Genoa in the second quarter of 2023.
Dell is leveraging AMD EPYC fourth-generation CPUs in its latest PowerEdge C6615 server. In combination with OpenManage Enterprise software, Dell servers enable cloud service providers to intelligently monitor their systems and deliver more efficient compute services.
Microsoft cloud arm Azure announced the first Genoa-X HPC instances that offer more than five times higher performance in technical computing workloads compared to their prior generation.
Currently, there are more than 670 AMD-powered cloud instances publicly available, and this number is expected to grow 30% to 900 by the end of 2023, primarily due to the adoption of Genoa.
Moreover, the availability of Bergamo is crucial, as several server providers like Dell, HPE, Lenovo and Supermicro are set to launch their new Bergamo-based platforms in the current quarter. This is expected to boost AMD, which currently has a Zacks Rank #3 (Hold), over the long term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Intel Corporation (INTC) : Free Stock Analysis Report
Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : 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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Moreover, AMD’s partnerships with the likes of Dell Technologies DELL, Microsoft MSFT, Amazon Web Services (“AWS”), Alibaba and Oracle have been key catalysts. Dell is leveraging AMD EPYC fourth-generation CPUs in its latest PowerEdge C6615 server. In combination with OpenManage Enterprise software, Dell servers enable cloud service providers to intelligently monitor their systems and deliver more efficient compute services.
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In combination with OpenManage Enterprise software, Dell servers enable cloud service providers to intelligently monitor their systems and deliver more efficient compute services. Click to get this free report Intel Corporation (INTC) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, AMD’s partnerships with the likes of Dell Technologies DELL, Microsoft MSFT, Amazon Web Services (“AWS”), Alibaba and Oracle have been key catalysts.
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Click to get this free report Intel Corporation (INTC) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, AMD’s partnerships with the likes of Dell Technologies DELL, Microsoft MSFT, Amazon Web Services (“AWS”), Alibaba and Oracle have been key catalysts. Dell is leveraging AMD EPYC fourth-generation CPUs in its latest PowerEdge C6615 server.
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Moreover, AMD’s partnerships with the likes of Dell Technologies DELL, Microsoft MSFT, Amazon Web Services (“AWS”), Alibaba and Oracle have been key catalysts. Dell is leveraging AMD EPYC fourth-generation CPUs in its latest PowerEdge C6615 server. In combination with OpenManage Enterprise software, Dell servers enable cloud service providers to intelligently monitor their systems and deliver more efficient compute services.
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e92a4dfa-92a6-44d8-a9e3-6cddc5e36a6c
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725313.0
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2023-09-28 00:00:00 UTC
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Synopsys (SNPS) & TSMC to Advance Multi-Die System Design
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DELL
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https://www.nasdaq.com/articles/synopsys-snps-tsmc-to-advance-multi-die-system-design
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nan
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nan
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Synopsys SNPS has collaborated with Taiwan Semiconductor Manufacturing Company (“TSMC") to facilitate the advancement of multi-die system designs using TSMC's 3DFabric technologies and the latest 3Dblox 2.0 standard.
The Synopsys Multi-Die System solution features TSMC-certified 3DIC Compiler. Notably, 3DIC Compiler is a unified exploration-to-signoff platform that enables the entire process of designing an integrated circuit. It helps designers in the entire process that starts from conceptualization to the approval and finally the fabrication of the design.
This advancement allows customers to fast-track the system design process, from early architectural considerations to manufacturing. They can now explore, analyze and approve multi-die system designs within a unified platform using the 3Dblox 2.0 standard.
Synopsys, Inc. Price and Consensus
Synopsys, Inc. price-consensus-chart | Synopsys, Inc. Quote
3Dblox 2.0 enables designers to evaluate power and thermal aspects early in the design phase, so the design flaws can be resolved early, while improving design efficiency. The efficiency can further be optimized with chiplet design reuse feature included in 3Dblox 2.0.
Additionally, customers can utilize Synopsys Universal Chiplet Interconnect Express (UCIe) PHY Internet Protocol (IP), which achieved first-pass silicon success on TSMC N3E and comes with UCIe IP solution, PHY component and verification IP. The PHY component offers high-bandwidth, low-power and low-latency connectivity between dies within a package.
The collective strength of these features ensures the dependability of multi-die systems, even during the in-field use.
This collaboration is the result of the long-standing partnership between SNPS and TSMC. This year also saw the deployment of the Radio Frequency design flow for TSMC's N6RF process by Synopsys, followed by the announcement of TSMC-certified digital and analog designs for the N2 process in September 2023. Additionally, the company introduced automotive-grade IP for TSMC's N5A Process prior to these developments.
Synopsys has been benefiting from strong design wins due to its robust product portfolio that also includes its Electronic Design Solution (EDA) and Fusion Compiler, a key component in efficient chip design.
Many companies, including Juniper Networks, Realtek, Teradici, NetLogic Microsystems, Toshiba and Wolfson, have selected Synopsys as the primary EDA partner. Additionally, Fusion Compiler has been deployed at important nodes, such as TSMC N2, TSMC N5A, Samsung SF3 and Intel 18A.
Zacks Rank & Other Key Picks
Synopsys currently sports a Zacks Rank #1 (Strong Buy). Shares of SNPS have climbed 39.9% year to date . You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked stocks from the broader Computer and Technology sector are NVIDIA Corporation NVDA, Asure Software ASUR and Dell Technologies DELL, each sporting a Zacks Rank #1 at present.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised upward by 8 cents to $3.32 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 21 cents to $10.67 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have surged 190.6% year to date.
The Zacks Consensus Estimate for Asure Software’s third-quarter 2023 earnings has been revised to a penny northward to 6 cents per share over the past 30 days. For 2023, earnings estimates have moved 3 cents north to 54 cents per share in the past 30 days.
Asure's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 676.4%. Shares of ASUR have lost 0.9% year to date.
The Zacks Consensus Estimate for Dell’s third-quarter 2024 earnings has been revised 11 cents upward to $1.47 per share over the past 30 days. For Fiscal Year 2024, earnings estimates have moved 74 cents north to $6.30 per share in the past 30 days.
DELL’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 39.5%. Shares of DELL have rallied 73% year to date.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Synopsys, Inc. (SNPS) : Free Stock Analysis Report
Asure Software Inc (ASUR) : 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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Some other top-ranked stocks from the broader Computer and Technology sector are NVIDIA Corporation NVDA, Asure Software ASUR and Dell Technologies DELL, each sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for Dell’s third-quarter 2024 earnings has been revised 11 cents upward to $1.47 per share over the past 30 days. DELL’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 39.5%.
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Some other top-ranked stocks from the broader Computer and Technology sector are NVIDIA Corporation NVDA, Asure Software ASUR and Dell Technologies DELL, each sporting a Zacks Rank #1 at present. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Synopsys, Inc. (SNPS) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for Dell’s third-quarter 2024 earnings has been revised 11 cents upward to $1.47 per share over the past 30 days.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Synopsys, Inc. (SNPS) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other top-ranked stocks from the broader Computer and Technology sector are NVIDIA Corporation NVDA, Asure Software ASUR and Dell Technologies DELL, each sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for Dell’s third-quarter 2024 earnings has been revised 11 cents upward to $1.47 per share over the past 30 days.
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Some other top-ranked stocks from the broader Computer and Technology sector are NVIDIA Corporation NVDA, Asure Software ASUR and Dell Technologies DELL, each sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for Dell’s third-quarter 2024 earnings has been revised 11 cents upward to $1.47 per share over the past 30 days. DELL’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 39.5%.
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6dadc6c7-7314-447f-b955-c2eae746c661
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725314.0
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2023-09-28 00:00:00 UTC
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Are Options Traders Betting on a Big Move in Dell Technologies (DELL) Stock?
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DELL
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https://www.nasdaq.com/articles/are-options-traders-betting-on-a-big-move-in-dell-technologies-dell-stock-2
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nan
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nan
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Investors in Dell Technologies Inc. DELL need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 19, 2024 $75 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for Dell Technologies shares, but what is the fundamental picture for the company? Currently, Dell Technologies is a Zacks Rank #1 (Strong Buy) in the Computers - IT Services industry that ranks in the Top 35% of our Zacks Industry Rank. Over the last 30 days, four analysts have increased their earnings estimates for the current quarter, while none have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.36 per share to $1.47 in that period.
Given the way analysts feel about Dell Technologies right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Looking to Trade Options?
Check out the simple yet high-powered approach that Zacks Executive VP Kevin Matras has used to close recent double and triple-digit winners. In addition to impressive profit potential, these trades can actually reduce your risk.
Click to see the trades now >>
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : 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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Investors in Dell Technologies Inc. DELL need to pay close attention to the stock based on moves in the options market lately. Clearly, options traders are pricing in a big move for Dell Technologies shares, but what is the fundamental picture for the company? Currently, Dell Technologies is a Zacks Rank #1 (Strong Buy) in the Computers - IT Services industry that ranks in the Top 35% of our Zacks Industry Rank.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report To read this article on Zacks.com click here. Investors in Dell Technologies Inc. DELL need to pay close attention to the stock based on moves in the options market lately. Clearly, options traders are pricing in a big move for Dell Technologies shares, but what is the fundamental picture for the company?
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Investors in Dell Technologies Inc. DELL need to pay close attention to the stock based on moves in the options market lately. Clearly, options traders are pricing in a big move for Dell Technologies shares, but what is the fundamental picture for the company? Currently, Dell Technologies is a Zacks Rank #1 (Strong Buy) in the Computers - IT Services industry that ranks in the Top 35% of our Zacks Industry Rank.
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Clearly, options traders are pricing in a big move for Dell Technologies shares, but what is the fundamental picture for the company? Given the way analysts feel about Dell Technologies right now, this huge implied volatility could mean there’s a trade developing. Investors in Dell Technologies Inc. DELL need to pay close attention to the stock based on moves in the options market lately.
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7f003555-a908-4055-b954-5e3ab2628d95
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725315.0
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2023-09-27 00:00:00 UTC
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Garmin (GRMN) Boosts Fitness Tracking Efforts With New Watch
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DELL
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https://www.nasdaq.com/articles/garmin-grmn-boosts-fitness-tracking-efforts-with-new-watch-0
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nan
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nan
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Garmin GRMN is constantly gaining momentum in the wearable market on the back of its robust smartwatches. Its expanding smartwatch portfolio is helping the company gain momentum among fitness enthusiasts across the world.
Recently, the company launched its new health and fitness smartwatch called vivoactive 5, which comes with a vibrant AMOLED display. The watch features 11 days of battery life in smartwatch mode and motivates users to lead an active life by supporting their fitness goals.
One of the health monitoring features in the watch is the sleep coach, which offers a sleep score and personalized coaching that keeps track of different sleep stages, naps, Pulse Ox1 and heart rate variability (HRV) status.
Other features include a morning report, which provides an overview of sleep, recovery and HRV status; nap detection, which tracks or logs naps automatically and Body Battery enhancements, which monitor energy levels throughout the day. The new watch is also designed to inform users how each workout benefits their bodies.
vivoactive 5 comes with in wheelchair mode, allowing users to track pushes and follow wheelchair-specific workouts and sports. It also provides guided meditation practices.
We note that the above-mentioned features are expected to boost the adoption rate of the vivoactive 5 in the days ahead.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Strengthening Smartwatch Offerings
Apart from the latest launch, Garmin recently introduced GPS smartwatches, namely the Venu 3 and Venu 3S. The Venu 3 series is designed to provide a clear picture of users’ health. The series watches are equipped with AMOLED touchscreen displays, an extensive 14-day battery life, a built-in speaker and a microphone.
The company recently launched a series of premium multisport GPS smartwatches, namely the fenix 7 Pro. The fenix 7 Pro smartwatches provide pro-grade performance insights to users and feature advanced mapping capabilities. It offers weather map overlays, with the help of which users can view upcoming weather conditions seamlessly.
It also unveiled its next-generation high-performance GPS smartwatch series — epix Pro, which features a crystal-clear AMOLED display and improved battery life.
GRMN also added an AMOLED display feature to its Forerunner 265 and Forerunner 965 GPS running watch series.
Forerunner 265 and 965 smartwatches enable users to access health features and smart notifications seamlessly on the back of the responsive touchscreen displays. These watches also offer other innovative features to athletes, such as a morning report, a race widget, personalized daily suggested workouts, a training readiness score, running power and dynamics and heart rate variability.
Growth Prospects
Garmin’s above-mentioned efforts are expected to continue, helping it solidify its presence in the booming smartwatch and wearable markets.
Per a Fortune Business Insights report, the global smartwatch market is anticipated to hit $29.31 billion in 2023 and reach $77.22 billion by 2032, witnessing a CAGR of 14.8% between 2023 and 2030.
Per a report from Straits Research, the wearable fitness tracker market is expected to hit $192 billion by 2030, seeing a CAGR of 17.5% between 2022 and 2030.
We believe Garmin’s deepening focus on these promising markets, along with its expanding smartwatch offerings, is expected to aid it in gaining investors’ optimism in the days ahead.
GRMN has gained 14.4% in the year-to-date period, outperforming the industry’s growth of 8.2%.
Garmin’s growing fitness-oriented smartwatch offerings are expected to aid growth in its fitness segment, which generated sales of $334.9 million (25.4% of total revenues) in second-quarter 2023, up 23% year over year.
Our model estimate for 2023 fitness revenues is pegged at $1.22 billion, reflecting 10% growth from 2022.
However, the company is grappling with intensifying competition in the smartwatch space, which remains a major concern for its market position. The current economic uncertainties do not bode well for its growth prospects.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 71.4% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Badger Meter shares have gained 37.9% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 15.05%.
Arista Networks shares have gained 46.6% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
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
Garmin Ltd. (GRMN) : Free Stock Analysis Report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Dell Technologies shares have gained 71.4% in the year-to-date period.
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While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Click to get this free report Garmin Ltd. (GRMN) : Free Stock Analysis Report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET.
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While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Click to get this free report Garmin Ltd. (GRMN) : Free Stock Analysis Report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Dell Technologies shares have gained 71.4% in the year-to-date period.
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4538bf65-ff34-4bad-b001-6aeaa8ff6792
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725316.0
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2023-09-27 00:00:00 UTC
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Weave (WEAV) Partners With Affirm for Easy Healthcare Payments
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DELL
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https://www.nasdaq.com/articles/weave-weav-partners-with-affirm-for-easy-healthcare-payments
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nan
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nan
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Weave Communications WEAV recently joined forces with Affirm to introduce an innovative payment solution that empowers patients with the option of pay-over-time financing, offering remarkably low rates starting at 0% annual percentage rate (APR).
With seamless integration, this collaboration facilitates swift access to healthcare while simplifying the payment process for practices, fostering a patient-centric approach.
Expanding Portfolio Aids Growth
Weave shares have returned 75.3% compared with the Zacks Computer & Technology sector’s increase of 33.1% year to date. The outperformance can be attributed to an expanding portfolio with a special emphasis on bringing significant advantages to healthcare patients.
Weave has broadened its product offerings by launching softphones, enabling teams to communicate with patients from the office or remotely without needing dedicated telecom hardware.
Weave has introduced online bill pay, enabling small businesses to quickly generate and send payment links via web pages, text messages, or emails, allowing customers the convenience of paying their bills online.
Weave's robust product portfolio is the critical catalyst for retaining customers, especially within the dental, optometry, and veterinarian sectors, where most clients operate.
With the recent introduction of Practice Analytics, dental practices are gaining invaluable insights and data-driven options to enhance patient care and foster business growth. This solidifies Weave's position as a premier patient engagement software dedicated to the success of healthcare customers.
In addition to this, Weave’s platform ranked first in 20 categories in G2’s 2023 Summer Report and won 25 badges, including Most Implementable Patient Experience Software and Best Usability for Patient Relationship Management Software.
Revenues hit $41.7 million, marking a 19.3% year-over-year increase in the second quarter of fiscal 2023. The growth is driven by continued high demand for the healthcare platform and the steady customer base growth.
For the third quarter of fiscal 2023, Weave expects total revenues between $41.7 million and $42.7 million.
For fiscal 2023, Weave anticipates total revenues between $164.7 million to $166.7 million.
The Zacks Consensus Estimate for the second quarter is currently pegged at $42.21 million, suggesting a year-over-year growth of 16.51%.
Zacks Rank & Stocks to Consider
Currently, Weave carries a Zacks Rank #3 (Hold).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 71.4%, 186.9% and 69.2%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
Weave Communications, Inc. (WEAV) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 71.4%, 186.9% and 69.2%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Weave Communications, Inc. (WEAV) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 71.4%, 186.9% and 69.2%, respectively, on a year-to-date basis.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Weave Communications, Inc. (WEAV) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 71.4%, 186.9% and 69.2%, respectively, on a year-to-date basis.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 71.4%, 186.9% and 69.2%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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b690db1d-cf62-4e6d-812d-07fbbaf3061c
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725317.0
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2023-09-27 00:00:00 UTC
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Is Dell Technologies (DELL) Stock Outpacing Its Computer and Technology Peers This Year?
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DELL
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https://www.nasdaq.com/articles/is-dell-technologies-dell-stock-outpacing-its-computer-and-technology-peers-this-year
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nan
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nan
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Dell Technologies (DELL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Dell Technologies is one of 633 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Dell Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DELL's full-year earnings has moved 16.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, DELL has gained about 71.4% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 31.4% on a year-to-date basis. This means that Dell Technologies is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Extreme Networks (EXTR). The stock is up 32% year-to-date.
In Extreme Networks' case, the consensus EPS estimate for the current year increased 6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Dell Technologies belongs to the Computers - IT Services industry, a group that includes 38 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, stocks in this group have gained 16.8% this year, meaning that DELL is performing better in terms of year-to-date returns.
In contrast, Extreme Networks falls under the Computer - Networking industry. Currently, this industry has 9 stocks and is ranked #20. Since the beginning of the year, the industry has moved +11.8%.
Investors with an interest in Computer and Technology stocks should continue to track Dell Technologies and Extreme Networks. These stocks will be looking to continue their solid performance.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
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Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On average, stocks in this group have gained 16.8% this year, meaning that DELL is performing better in terms of year-to-date returns. Is Dell Technologies (DELL) one of those stocks right now? Dell Technologies is one of 633 companies in the Computer and Technology group.
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Looking more specifically, Dell Technologies belongs to the Computers - IT Services industry, a group that includes 38 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, stocks in this group have gained 16.8% this year, meaning that DELL is performing better in terms of year-to-date returns. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Looking more specifically, Dell Technologies belongs to the Computers - IT Services industry, a group that includes 38 individual stocks and currently sits at #89 in the Zacks Industry Rank. Investors with an interest in Computer and Technology stocks should continue to track Dell Technologies and Extreme Networks. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Extreme Networks, Inc. (EXTR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Dell Technologies is one of 633 companies in the Computer and Technology group. Is Dell Technologies (DELL) one of those stocks right now? Dell Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
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2023-09-27 00:00:00 UTC
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The Zacks Analyst Blog Highlights Qualys, Vertiv, Dell Technologies, VMware and Zoom Video Communications
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DELL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-qualys-vertiv-dell-technologies-vmware-and-zoom-video
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For Immediate Release
Chicago, IL – September 27, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM.
Here are highlights from Tuesday’s Analyst Blog:
Should You Fear Higher Rates? 5 Tech Stocks to Rule Ahead
After a great start to 2023, Wall Street has faltered in the second half as inflation is still hot and rates are likely to remain higher for longer. Though the Fed has stayed put in September, the U.S. central banks indicated that rates will remain higher for longer. No rate cuts are expected in the near term.
Growth stocks that the tech-heavy Nasdaq primarily holds underperform in a rising rate environment. The index-100 ETF Invesco QQQ Trust has declined 1.6% in the past month (as of Sep 22, 2023) while the S&P 500 lost 1.8%.
However, in this article, we will highlight why some tech stocks are still investment-worthy despite higher rates. These are Qualys,Vertiv, Dell Technologies, VMware and Zoom Video Communications.
Is the Worry About Higher Rates Exaggerated?
We believe that no matter if the Fed hikes, pauses or cuts, tech investing will be in fine fettle this year due to the AI boom and the perception that the era of rock-bottom rates is over. Both tech and higher rates are the new normal, and investors are becoming accustomed to it. According to a recent note by Wedbush analyst Dan Ives, the technology sector is poised to weather a prolonged phase of increased interest rates, per a Business Insider article, as quoted on Yahoo Finance.
2023's AI Frenzy Is Not Same As 2000's Tech Bubble
The dramatic rise in big tech companies won't come to an end like what the industry saw after the tech boom of the 1990s, according to some on Wall Street, as quoted on Yahoo. Dan Ives commented that "don't be unnerved by the Federal Reserve's and macroeconomic factors. Instead, focus on the imminent, most significant tech revolution we've seen in three decades," per the above-mentioned article.
He also hinted that any prospective reductions in interest rates — with the market forecasting at least two for the next year — coupled with the ongoing rise of artificial intelligence, could catalyze a "risk-on environment." Jefferies equity analyst Mark Lipacis believes that 1990s saw companies invest in a Field of Dreams-esque. But AI transformation is a hard-core reality.
AI's potential has already boosted the earnings outlook for leading tech firms such as Nvidia, Microsoft, and Adobe. Ives also mentioned that preliminary assessments of corporate IT expenditure show a slight uptick, indicating a favorable trend for software, semiconductors and digital media equities.
Per Nvidia founder & CEO Jensen Huang, demand for its data center platform for AI is huge and broad-based. According to Huang's estimate, the value of data centers within cloud and enterprise software systems is around $1 trillion.
Tech Stocks to Win
Against this backdrop, we have highlighted a few tech stocks that could be up for gains in the near term. These stocks have a Zacks Rank #1 (Strong Buy) or #2 (Buy).
Qualys
Qualys, a Zacks Rank #1 stock, is a provider of cloud security and compliance solutions that enable organizations to identify security risks to their information technology infrastructures help protect their IT systems and applications from cyber-attacks. You can see the complete list of today's Zacks #1 Rank stocks here.
The average earnings surprise for the past four quarters is 14.27%. The Zacks Consensus Estimate for the company's to-be-reported quarter earnings has moved up from $1.05 to $1.13 in the past 60 days.
Vertiv
Zacks #1 Ranked Vertiv Holdings provides digital infrastructure and continuity solutions. It offers hardware, software, analytics and ongoing services.
The average four-quarter earnings surprise is 25.66%. The Zacks consensus estimate for the upcoming quarter has moved up from 34 cents to 43 cents in the past 60 days.
Dell Technologies
Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions. The company's operating segments include Client Solutions, Enterprise Solutions Group and Dell Software Group.
The average earnings surprise for the past four quarters is 39.52%. The consensus estimate for earnings for the upcoming quarter has moved up from $1.36 to $1.47 in the past 30 days.
VMware
Zacks #2 Ranked VMware is the pioneer in developing core x86 server virtualization software solutions. With innovative virtualization products and cloud-suit solutions, the company is helping businesses in their digital transformation journey.
The average earnings surprise for the past four quarters is 1.15%. The Zacks Consensus Estimate for earnings for the upcoming quarter has moved up from $1.64 to $1.75 in the past 30 days.
Zoom Video Communications
Zoom Video Communications' cloud-native unified communications platform, which combines video, audio, phone, screen sharing and chat functionalities, makes remote working and collaboration easy. Undoubtedly, this Zacks Rank #2 company is benefiting from the work-from-home and online learning wave following the coronavirus pandemic outbreak that forced more and more people to stay home.
The average earnings surprise for the past four quarters is 31.65%. The consensus estimate for earnings for the upcoming quarter has moved up from 94 cents to $1.08 in the past 60 days.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
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
VMware, Inc. (VMW) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Qualys, Inc. (QLYS) : Free Stock Analysis Report
Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report
Vertiv Holdings Co. (VRT) : 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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Stocks recently featured in the blog include: Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. These are Qualys,Vertiv, Dell Technologies, VMware and Zoom Video Communications. Dell Technologies Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions.
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Stocks recently featured in the blog include: Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. Click to get this free report VMware, Inc. (VMW) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Qualys, Inc. (QLYS) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report To read this article on Zacks.com click here. These are Qualys,Vertiv, Dell Technologies, VMware and Zoom Video Communications.
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Click to get this free report VMware, Inc. (VMW) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Qualys, Inc. (QLYS) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks recently featured in the blog include: Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. These are Qualys,Vertiv, Dell Technologies, VMware and Zoom Video Communications.
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Stocks recently featured in the blog include: Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. These are Qualys,Vertiv, Dell Technologies, VMware and Zoom Video Communications. Dell Technologies Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions.
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2023-09-27 00:00:00 UTC
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Bull of the Day: Dell Technologies (DELL)
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DELL
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https://www.nasdaq.com/articles/bull-of-the-day%3A-dell-technologies-dell-0
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Dell Technologies DELL stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions.
Dell Technologies is a provider of information technology solutions including servers, storage, and networking products as well as commercial and consumer notebooks, desktop computers and workstations.
In addition to a rebound in PC sales, which seem to have bounced off a bottom, its growth in server sales is being accelerated by the explosion in Artificial Intelligence opportunities. 20% of server orders YTD were AI enabled.
DELL continues to adjust to the technology market’s needs and with a reasonable valuation, and strong price momentum is a worthy investment consideration for any investor’s portfolio.
Earnings Estimates Snap Higher
At the most recent quarterly earnings report Dell Technologies beat analysts estimates by a whopping 54% and marked its sixth consecutive upward earnings surprise. These strong results have prompted analysts to make some significant revisions higher to future earnings expectations, as can be seen in the chart below.
Current quarterly earnings estimates have been revised higher by 8.1% and FY23 earnings estimates have increased by 13.5% over the last two months. EPS are forecast to climb 12% annually over the next 3-5 years.
Image Source: Zacks Investment Research
Strong Stock in a Weak Tape
Since the last Federal Reserve interest rate meeting on September 20, stocks have been reeling, as Fed chair Jerome Powell indicated that he would continue to keep interest rates higher for longer. And while the S&P 500 is down nearly -6% month to date, Dell Technologies shows immense relative strength.
Image Source: TradingView
Furthermore, the price action in DELL stock has been forming a compelling technical chart pattern. The stock has been building out this bull flag consolidation over the last two weeks and if the price can breakout and close above the $70 level, it should make a bull run.
Critical to DELL moving higher in the short term will be how the broad market acts. However, even if there is some market weakness that pulls down DELL stock in the very short term it remains a convincing investment over the medium and long term.
Image Source: TradingView
Reasonable Valuation
Even with double digit earnings growth estimates, and a strong position in its respective market, Dell Technologies trades at a very reasonable valuation. Today, it is trading at a one year forward earnings multiple of 13.1x, which is well below the industry average of 34.5x, and above its three-year median of 10.3x.
DELL also pays a generous dividend yield of 2.1% and raised the payout by 12% over the last year.
Image Source: Zacks Investment Research
Bottom Line
Dell Technologies, with its Zacks Rank #1 (Strong Buy), demonstrates resilience and adaptability in a volatile market, making it a noteworthy investment consideration. The company's innovation in AI-enabled server sales and its rebound in PC sales highlight its potential for sustained growth. Despite broader market uncertainties, its reasonable valuation, strong price momentum, and substantial dividend yield enhance its appeal, making Dell a promising investment for the discerning investor.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
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
Dell Technologies Inc. (DELL) : 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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DELL continues to adjust to the technology market’s needs and with a reasonable valuation, and strong price momentum is a worthy investment consideration for any investor’s portfolio. Despite broader market uncertainties, its reasonable valuation, strong price momentum, and substantial dividend yield enhance its appeal, making Dell a promising investment for the discerning investor. Dell Technologies DELL stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions.
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Dell Technologies DELL stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. Image Source: Zacks Investment Research Bottom Line Dell Technologies, with its Zacks Rank #1 (Strong Buy), demonstrates resilience and adaptability in a volatile market, making it a noteworthy investment consideration. Dell Technologies is a provider of information technology solutions including servers, storage, and networking products as well as commercial and consumer notebooks, desktop computers and workstations.
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Dell Technologies DELL stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. Image Source: TradingView Reasonable Valuation Even with double digit earnings growth estimates, and a strong position in its respective market, Dell Technologies trades at a very reasonable valuation. Image Source: Zacks Investment Research Bottom Line Dell Technologies, with its Zacks Rank #1 (Strong Buy), demonstrates resilience and adaptability in a volatile market, making it a noteworthy investment consideration.
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Dell Technologies DELL stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. Image Source: Zacks Investment Research Bottom Line Dell Technologies, with its Zacks Rank #1 (Strong Buy), demonstrates resilience and adaptability in a volatile market, making it a noteworthy investment consideration. Dell Technologies is a provider of information technology solutions including servers, storage, and networking products as well as commercial and consumer notebooks, desktop computers and workstations.
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2023-09-27 00:00:00 UTC
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Dell Technologies and OneWater Marine have been highlighted as Zacks Bull and Bear of the Day
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DELL
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https://www.nasdaq.com/articles/dell-technologies-and-onewater-marine-have-been-highlighted-as-zacks-bull-and-bear-of-the
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For Immediate Release
Chicago, IL – September 27, 2023 – Zacks Equity Research shares Dell Technologies DELL as the Bull of the Day and OneWater Marine ONEW as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Target TGT, Macy's M and Amazon AMZN.
Here is a synopsis of all five stocks:
Bull of the Day:
Dell Technologies stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions.
Dell Technologies is a provider of information technology solutions including servers, storage, and networking products as well as commercial and consumer notebooks, desktop computers and workstations.
In addition to a rebound in PC sales, which seem to have bounced off a bottom, its growth in server sales is being accelerated by the explosion in Artificial Intelligence opportunities. 20% of server orders YTD were AI enabled.
DELL continues to adjust to the technology market's needs and with a reasonable valuation, and strong price momentum is a worthy investment consideration for any investor's portfolio.
Earnings Estimates Snap Higher
At the most recent quarterly earnings report Dell Technologies beat analysts estimates by a whopping 54% and marked its sixth consecutive upward earnings surprise. These strong results have prompted analysts to make some significant revisions higher to future earnings expectations, as can be seen in the chart below.
Current quarterly earnings estimates have been revised higher by 8.1% and FY23 earnings estimates have increased by 13.5% over the last two months. EPS are forecast to climb 12% annually over the next 3-5 years.
Strong Stock in a Weak Tape
Since the last Federal Reserve interest rate meeting on September 20, stocks have been reeling, as Fed chair Jerome Powell indicated that he would continue to keep interest rates higher for longer. And while the S&P 500 is down nearly -6% month to date, Dell Technologies shows immense relative strength.
Furthermore, the price action in DELL stock has been forming a compelling technical chart pattern. The stock has been building out this bull flag consolidation over the last two weeks and if the price can breakout and close above the $70 level, it should make a bull run.
Critical to DELL moving higher in the short term will be how the broad market acts. However, even if there is some market weakness that pulls down DELL stock in the very short term it remains a convincing investment over the medium and long term.
Reasonable Valuation
Even with double digit earnings growth estimates, and a strong position in its respective market, Dell Technologies trades at a very reasonable valuation. Today, it is trading at a one year forward earnings multiple of 13.1x, which is well below the industry average of 34.5x, and above its three-year median of 10.3x.
DELL also pays a generous dividend yield of 2.1% and raised the payout by 12% over the last year.
Bottom Line
Dell Technologies, with its Zacks Rank #1 (Strong Buy), demonstrates resilience and adaptability in a volatile market, making it a noteworthy investment consideration. The company's innovation in AI-enabled server sales and its rebound in PC sales highlight its potential for sustained growth. Despite broader market uncertainties, its reasonable valuation, strong price momentum, and substantial dividend yield enhance its appeal, making Dell a promising investment for the discerning investor.
Bear of the Day:
OneWater Marine, a premium boat retailer, is trading in a steep down trend, punctuated by dismal guidance from management, falling earnings estimates, and compressing margins. These developments have led analysts to revise earnings estimates lower, giving OneWater Marine a Zacks Rank #5 (Strong Sell) rating.
Falling Earnings Estimates
Earnings estimates have been revised considerably lower over the last two months. Current quarter earnings estimates have been lowered by -73% and are projected to fall -66% YoY to $0.43 per share. FY23 earnings estimates have been revised lower by -37% and are forecast to decline -50% YoY to $4.58 per share.
Highlighting a bright spot for the boat retailer is that sales growth is expected to remain marginally positive this year and next, which is better than some of its competitors expect. Nonetheless, the industry is expected to see headwinds going forward.
Bearish Technical Pattern
After gapping down more than -30% following the bleak Q3 earnings report, ONEW stock has remained under pressure. The price action isn't encouraging as a bearish wedge has formed in the chart, and a breakdown on Tuesday indicates there may be further downside action ahead.
Valuation
OneWater Marine is trading at a one year forward earnings multiple of 5.4x, which is in line with its historical median, and well below the industry average of 24.8x.
Bottom Line
The leisure and recreation industry currently sits in the bottom 3% (237 out of 245) of the Zacks Industry Rank, showing a broad weakness in the segment. After the incredible boom period following the Covid-19 pandemic, it seems a lot of consumer spending, especially big-ticket items like boats was pulled forward a couple years. However, there will be a time in the future where demand for ONEW products again picks up, and the stock will again be worth considering. But until those earnings estimates begin to trend higher, I would avoid the stock.
Additional content:
Retailers Ramp Up Staffing Ahead of Holiday Season
With the holiday season approaching, retailers are actively preparing to meet the high expectations of shoppers eager for exciting deals. Players in the industry are all geared up to walk the extra mile this festive season to capitalize on any potential upswing in demand. The backdrop of healthy employment and wage gains has so far bolstered consumer spending, exhibiting remarkable resilience despite a challenging economic environment.
Strategies to Meet Consumer Preferences
The holiday season holds significant importance for retailers as it contributes a substantial portion of their annual revenues. Consequently, retailers must proactively address logistical and inventory challenges while devising comprehensive strategies to deliver a seamless shopping experience, both in physical stores and online. Keeping all these aspects in mind and to keep pace with any unprecedented increase in demand, retailers are unveiling hiring plans for the holiday season.
To cater to consumers' product preferences, retailers are focusing on replenishing shelves with in-demand merchandise and ramping up investments in digitization. These efforts are expected to result in the recruitment of a considerable number of seasonal associates who will play crucial roles in managing curbside and in-store pickups of online orders as well as doorstep deliveries. Furthermore, retailers are likely to expand their warehouse staff to ensure a smooth flow of inventory from distribution centers to stores throughout the festive season.
Retailers' Hiring Initiatives
Target is set to appoint nearly 100,000 seasonal workers, aiming to provide a seamless shopping experience for its customers. The company is launching its holiday deals early, featuring thousands of new items priced under $25 across various categories.
Target Circle members will enjoy exclusive access to the "Deal of the Day" shopping event, both in the store and online. From Oct 1 through Dec 24, customers can avail of incredible offers, including discounts on renowned national brands such as Apple, Nespresso, Dyson and Nintendo, along with an additional 5% discount with the RedCard.
Keeping in mind the festive rush, Macy's plans to fill more than 38,000 full and part-time seasonal associates across its Macy's, Bloomingdale's and Bluemercury stores, along with its distribution centers. The company is committed to offering competitive wages, with many positions starting at a minimum of $15 per hour.
Macy's is on track to strengthen its omnichannel capabilities with investments in online shopping experiences, data and analytics, technology infrastructure as well as better fulfillment capabilities.
Meanwhile, Amazon has ambitious plans to deploy 250,000 associates for the crucial festive season. The e-commerce giant aims to recruit individuals for both part-time and full-time positions, including roles in fulfillment centers and transportation, across the entire nation.
Final Thoughts
The significance of the holiday season for retailers cannot be overstated. This period marks a crucial juncture, often accounting for a substantial portion of annual sales. The influx of enthusiastic shoppers provides retailers with the opportunity to showcase their offerings, boost revenues and solidify brand loyalty. Retailers leverage this period to not only maximize sales but also leave an indelible impression on consumers.
However, market analysts are skeptical about whether the upcoming holiday season will meet retailers' expectations. They believe that cautious consumer spending, influenced by diminishing household savings and ongoing economic uncertainties, could potentially hinder the season's performance. According to Mastercard SpendingPulse, U.S. retail sales, excluding automotive, are anticipated to increase 3.7% from a year earlier during the traditional holiday period spanning from Nov 1 to Dec 24.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
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
Macy's, Inc. (M) : Free Stock Analysis Report
Target Corporation (TGT) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
OneWater Marine Inc. (ONEW) : 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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Despite broader market uncertainties, its reasonable valuation, strong price momentum, and substantial dividend yield enhance its appeal, making Dell a promising investment for the discerning investor. For Immediate Release Chicago, IL – September 27, 2023 – Zacks Equity Research shares Dell Technologies DELL as the Bull of the Day and OneWater Marine ONEW as the Bear of the Day. Here is a synopsis of all five stocks: Bull of the Day: Dell Technologies stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions.
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Here is a synopsis of all five stocks: Bull of the Day: Dell Technologies stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Macy's, Inc. (M) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report OneWater Marine Inc. (ONEW) : Free Stock Analysis Report To read this article on Zacks.com click here. For Immediate Release Chicago, IL – September 27, 2023 – Zacks Equity Research shares Dell Technologies DELL as the Bull of the Day and OneWater Marine ONEW as the Bear of the Day.
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Here is a synopsis of all five stocks: Bull of the Day: Dell Technologies stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. Earnings Estimates Snap Higher At the most recent quarterly earnings report Dell Technologies beat analysts estimates by a whopping 54% and marked its sixth consecutive upward earnings surprise. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Macy's, Inc. (M) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report OneWater Marine Inc. (ONEW) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Here is a synopsis of all five stocks: Bull of the Day: Dell Technologies stock is showing considerable relative strength in a weak market environment and is further bolstered by a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. For Immediate Release Chicago, IL – September 27, 2023 – Zacks Equity Research shares Dell Technologies DELL as the Bull of the Day and OneWater Marine ONEW as the Bear of the Day. Dell Technologies is a provider of information technology solutions including servers, storage, and networking products as well as commercial and consumer notebooks, desktop computers and workstations.
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32863171-a2ee-44b0-9f3e-87b6c1a5eeb6
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725321.0
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2023-09-26 00:00:00 UTC
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Top Buy the Dip Prospects Near 52-Week Highs
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DELL
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https://www.nasdaq.com/articles/top-buy-the-dip-prospects-near-52-week-highs
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nan
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nan
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Stocks have continued to lose steam with the S&P 500 and Nasdaq dipping over -1% today and now down -4% and -6% for the month respectively.
Corrections can be healthy as the broader indexes are still up nicely for the year and investors may get an opportunity to buy the dip in several intriguing stocks near their 52-week highs.
Three stocks that fit the bill as prime buy-the-dip candidates in this regard are Walmart WMT, Dell Technologies DELL, and New Relic NEWR.
Image Source: Zacks Investment Research
Consumer Shopping Trend Favors Walmart
Inflation has continued to lower the threshold of consumer shopping and may push shoppers to Walmart instead of its rival Target TGT which offers higher-quality goods.
Unlike Target’s stock which hovers near 52-week lows, Walmart is near its highs at around $162 a share with WMT up +15% for the year. Walmart's stronger sales growth has been reassuring to investors with many retailers dealing with other headwinds such as shrink.
Walmart’s e-commerce presence has also continued to expand through its online delivery and in-store pickup. While Target's online sales dropped -10% during Q2, Walmart’s jumped 24% with the company still deriving much of its sales from groceries and not having to rely on other non-essential products like many of its omnichannel competitors.
Image Source: Zacks Investment Research
Dell's Technology Solutions are in the AI Mix
Many tech stocks have dwindled lower in September including Dell Technologies' artificial intelligence partner Nvidia NVDA.
However, DELL is only -4% from its 52-week highs at around $69 a share. Investors look eager to buy the dip for Dell’s enticing generative AI proponents that have been embedded in many of its hardware products (workstations) and technology solutions.
With Dell’s stock up +74% for the year it may still be a more affordable option for AI exposure than Nvidia. The trend of rising earnings estimate revisions is very compelling as well which is indicative of more short-term upside especially as broader markets stabilize.
Image Source: Zacks Investment Research
New Relic Keeps Expanding
The road to profitability and expansion for software analytics company New Relic has gained steam as its offerings are also being harvested by AI.
Founded in 2008 and public since 2014, New Relic is expecting expansive double-digit percentage growth on its top and bottom lines with NEWR soaring +52% YTD and on the cusp of its 52-week highs of $86 a share back in May.
Those late to the party may certainly be waiting for a pullback as New Relic’s AI for IT operations (AIOps) is expected to catapult the company among the Internet-Software realm.
Image Source: Zacks Investment Research
Bottom Line
With the broader indexes starting to curtail as of late these stocks look like prime buy-the-dip candidates as they continue to flirt with the possibility of higher highs. More importantly, Walmart, Dell Technologies, and New Relic stock look like viable investments for 2023 and beyond.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Walmart Inc. (WMT) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
New Relic, Inc. (NEWR) : Free Stock Analysis Report
Target Corporation (TGT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : 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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Investors look eager to buy the dip for Dell’s enticing generative AI proponents that have been embedded in many of its hardware products (workstations) and technology solutions. Three stocks that fit the bill as prime buy-the-dip candidates in this regard are Walmart WMT, Dell Technologies DELL, and New Relic NEWR. Image Source: Zacks Investment Research Dell's Technology Solutions are in the AI Mix Many tech stocks have dwindled lower in September including Dell Technologies' artificial intelligence partner Nvidia NVDA.
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Image Source: Zacks Investment Research Dell's Technology Solutions are in the AI Mix Many tech stocks have dwindled lower in September including Dell Technologies' artificial intelligence partner Nvidia NVDA. Click to get this free report Walmart Inc. (WMT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report New Relic, Inc. (NEWR) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Three stocks that fit the bill as prime buy-the-dip candidates in this regard are Walmart WMT, Dell Technologies DELL, and New Relic NEWR.
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Three stocks that fit the bill as prime buy-the-dip candidates in this regard are Walmart WMT, Dell Technologies DELL, and New Relic NEWR. Image Source: Zacks Investment Research Dell's Technology Solutions are in the AI Mix Many tech stocks have dwindled lower in September including Dell Technologies' artificial intelligence partner Nvidia NVDA. Click to get this free report Walmart Inc. (WMT) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report New Relic, Inc. (NEWR) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Dell's Technology Solutions are in the AI Mix Many tech stocks have dwindled lower in September including Dell Technologies' artificial intelligence partner Nvidia NVDA. Three stocks that fit the bill as prime buy-the-dip candidates in this regard are Walmart WMT, Dell Technologies DELL, and New Relic NEWR. However, DELL is only -4% from its 52-week highs at around $69 a share.
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4dc75b90-5507-4206-a128-66573018fcce
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725322.0
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2023-09-26 00:00:00 UTC
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eGain (EGAN) Elevates Customer Engagement With AssistGPT
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DELL
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https://www.nasdaq.com/articles/egain-egan-elevates-customer-engagement-with-assistgpt
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nan
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nan
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eGain Corporation EGAN recently introduced the eGain AssistGPT solution, leveraging advanced Generative AI to streamline knowledge automation. This tool significantly reduces the time needed for content creation and enhances customer interactions with swift and precise responses.
The solution aids contact center agents and business analysts in their daily work. The AI Console offers administrators customization options, including a library of best practice prompts, allowing integration with other AI tools.
AssistGPT offers EGAN's users a flexible library and a "bring your own" architecture for integrating AI engines, empowering agents, knowledge authors, and business managers and analysts with various capabilities. These benefits range from enhanced customer query handling to improved content creation and the extraction of valuable insights, resulting in elevated customer engagement and operational efficiency.
Expanding Portfolio Aids Growth
eGain continues to strengthen its customer service and technology sector powered by AI. The growing adoption of eGain's AI-powered solutions signifies a pivotal shift towards more efficient and customer-centric practices.
GAN Limited Price and Consensus
GAN Limited price-consensus-chart | GAN Limited Quote
Embracing modern knowledge hub platforms, businesses are actively seeking dependable sources for their generative AI tools. Enterprises are eager to integrate their in-house generative AI IP seamlessly, while those with older systems are contemplating a transition to harness generative AI capabilities.
eGain recently introduced the advanced eGain Knowledge Hub, which integrates generative AI and knowledge management to automate customer engagement, which is expected to attract customers with its advanced features and capabilities.
An innovative product portfolio is helping eGain retain clients. It witnessed strong renewals from the existing customer base, resulting in more than $20 million in ARR during the fourth quarter of fiscal 2023. Revenues hit $24.6 million, marking a 5% year-over-year increase in the fiscal fourth quarter.
For the first quarter of fiscal 2024, eGain expects total revenues between $23.5 million and $24 million. The Zacks Consensus Estimate for fiscal first quarter is currently pegged at $23.82 million, indicating a year-over-year decline of 3.8%.
For fiscal 2024, eGain anticipates total revenues between $96 million and $98 million. The Zacks Consensus Estimate for fiscal 2024 is currently pegged at $97.98 million, indicating a year-over-year decline of 0.3%.
Zacks Rank & Stocks to Consider
Currently, EGain sports a Zacks Rank #1 (Strong Buy).
The company’s shares have experienced a year-to-date decline of 34.2% against the Zacks Computer and Technology sector’s growth of 32.5%.
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 74.1%, 188.9% and 68.2%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
eGain Corporation (EGAN) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 74.1%, 188.9% and 68.2%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report eGain Corporation (EGAN) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 74.1%, 188.9% and 68.2%, respectively, on a year-to-date basis.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report eGain Corporation (EGAN) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 74.1%, 188.9% and 68.2%, respectively, on a year-to-date basis.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. DELL, NVDA and SPLK shares have returned 74.1%, 188.9% and 68.2%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.
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d82343ae-e628-4672-83ef-401060f6af71
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725323.0
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2023-09-26 00:00:00 UTC
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Should You Fear Higher Rates? 5 Tech Stocks to Rule Ahead
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DELL
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https://www.nasdaq.com/articles/should-you-fear-higher-rates-5-tech-stocks-to-rule-ahead
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nan
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nan
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After a great start to 2023, Wall Street has faltered in the second half as inflation is still hot and rates are likely to remain higher for longer. Though the Fed has stayed put in September, the U.S. central banks indicated that rates will remain higher for longer. No rate cuts are expected in the near term.
Growth stocks that the tech-heavy Nasdaq primarily holds underperform in a rising rate environment. The index-100 ETF Invesco QQQ Trust QQQ has declined 1.6% in the past month (as of Sep 22, 2023) while the S&P 500 lost 1.8%.
However, in this article, we will highlight why some tech stocks are still investment-worthy despite higher rates. These are Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM.
Is the Worry About Higher Rates Exaggerated?
We believe that no matter if the Fed hikes, pauses or cuts, tech investing will be in fine fettle this year due to the AI boom and the perception that the era of rock-bottom rates is over. Both tech and higher rates are the new normal, and investors are becoming accustomed to it. According to a recent note by Wedbush analyst Dan Ives, the technology sector is poised to weather a prolonged phase of increased interest rates, per a Business Insider article, as quoted on Yahoo Finance.
2023’s AI Frenzy Is Not Same As 2000’s Tech Bubble
The dramatic rise in big tech companies won't come to an end like what the industry saw after the tech boom of the 1990s, according to some on Wall Street, as quoted on Yahoo. Dan Ives commented that "don't be unnerved by the Federal Reserve's and macroeconomic factors. Instead, focus on the imminent, most significant tech revolution we've seen in three decades," per the abovementioned article.
He also hinted that any prospective reductions in interest rates — with the market forecasting at least two for the next year — coupled with the ongoing rise of artificial intelligence, could catalyze a "risk-on environment." Jefferies equity analyst Mark Lipacis believes that 1990s saw companies invest in a Field of Dreams-esque. But AI transformation is a hard-core reality.
AI's potential has already boosted the earnings outlook for leading tech firms such as Nvidia, Microsoft, and Adobe. Ives also mentioned that preliminary assessments of corporate IT expenditure show a slight uptick, indicating a favorable trend for software, semiconductors and digital media equities.
Per Nvidia founder & CEO Jensen Huang, demand for its data center platform for AI is huge and broad-based. According to Huang's estimate, the value of data centers within cloud and enterprise software systems is around $1 trillion.
Tech Stocks to Win
Against this backdrop, we have highlighted a few tech stocks that could be up for gains in the near term. These stocks have a Zacks Rank #1 (Strong Buy) or #2 (Buy).
Qualys
Qualys, a Zacks Rank #1 stock, is a provider of cloud security and compliance solutions that enable organizations to identify security risks to their information technology infrastructures help protect their IT systems and applications from cyber-attacks. You can see the complete list of today’s Zacks #1 Rank stocks here.
The average earnings surprise for the past four quarters is 14.27%. The Zacks Consensus Estimate for the company’s to-be-reported quarter earnings has moved up from $1.05 to $1.13 in the past 60 days.
Vertiv
Zacks #1 Ranked Vertiv Holdings provides digital infrastructure and continuity solutions. It offers hardware, software, analytics and ongoing services.
The average four-quarter earnings surprise is 25.66%. The Zacks consensus estimate for the upcoming quarter has moved up from 34 cents to 43 cents in the past 60 days.
Dell Technologies
Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions. The company's operating segments include Client Solutions, Enterprise Solutions Group and Dell Software Group.
The average earnings surprise for the past four quarters is 39.52%. The consensus estimate for earnings for the upcoming quarter has moved up from $1.36 to $1.47 in the past 30 days.
VMware
Zacks #2 Ranked VMware is the pioneer in developing core x86 server virtualization software solutions. With innovative virtualization products and cloud-suit solutions, the company is helping businesses in their digital transformation journey.
The average earnings surprise for the past four quarters is 1.15%. The Zacks Consensus Estimate for earnings for the upcoming quarter has moved up from $1.64 to $1.75 in the past 30 days.
Zoom Video Communications
Zoom Video Communications’ cloud-native unified communications platform, which combines video, audio, phone, screen sharing and chat functionalities, makes remote working and collaboration easy. Undoubtedly, this Zacks Rank #2 company is benefiting from the work-from-home and online learning wave following the coronavirus pandemic outbreak that forced more and more people to stay home.
The average earnings surprise for the past four quarters is 31.65%. The consensus estimate for earnings for the upcoming quarter has moved up from 94 cents to $1.08 in the past 60 days.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
VMware, Inc. (VMW) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
Qualys, Inc. (QLYS) : Free Stock Analysis Report
Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report
Vertiv Holdings Co. (VRT) : 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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These are Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. Dell Technologies Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions. The company's operating segments include Client Solutions, Enterprise Solutions Group and Dell Software Group.
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These are Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. Click to get this free report VMware, Inc. (VMW) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Qualys, Inc. (QLYS) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions.
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Click to get this free report VMware, Inc. (VMW) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Qualys, Inc. (QLYS) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report To read this article on Zacks.com click here. These are Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. Dell Technologies Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions.
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These are Qualys QLYS, Vertiv VRT, Dell Technologies DELL, VMware VMW and Zoom Video Communications ZM. Dell Technologies Dell Technologies, sporting a Zacks Rank of 1, is a provider of information technology solutions. The company's operating segments include Client Solutions, Enterprise Solutions Group and Dell Software Group.
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931552b4-3e2c-4d5b-a5b6-9f82278d5551
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725324.0
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2023-09-25 00:00:00 UTC
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Palo Alto (PANW) Rises 63.8% YTD: Will the Momentum Continue?
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DELL
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https://www.nasdaq.com/articles/palo-alto-panw-rises-63.8-ytd%3A-will-the-momentum-continue
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nan
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nan
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Palo Alto Networks’ PANW shares have made a remarkable run this year so far. The stock has rallied 61.6% year to date (YTD) and outperformed the broader equity indexes.
The Nasdaq Composite, The Dow Jones Industrial Average and the S&P 500 have increased 26.2%, 2.5% and 12.5%, respectively. It has also surpassed the gains of Technology Select Sector SPDR, the most important component of the broad market index, which has increased approximately 33% YTD.
Here’s Why PANW Stock is Rallying
We believe that PANW’s impressive growth profile is attracting investors. The company is benefiting from the increased adoption of its next-generation security platforms, driven by a rise in the remote working policy among top-notch companies. PANW's Next-Generation Security Portfolio, a suite of advanced security solutions, saw a remarkable 56% increase in its annual recurring revenues in the fourth quarter of 2023.
Palo Alto Networks, Inc. Price
Palo Alto Networks, Inc. price | Palo Alto Networks, Inc. Quote
The cyber security firm continues to win back-to-back deals for offering unique cyber safety solutions, which ensure the blocking of attacks or malicious content. It is currently focusing on selling more subscription-based services, which, in turn, are helping it to generate stable revenues while expanding margins.
Palo Alto's subscription-based services like AutoFocus, Aperture, Traps, WildFire and Virtual are not only witnessing solid growth but also bolstering the customer base. We believe that the subscription-based business model will continue to improve the company’s top and bottom lines.
Growing traction in PANW's Prisma and Cortex offerings continues to act as a tailwind. The company made strategic acquisitions to accelerate growth through the expansion of its product portfolio and global footprint. Its 2021 Bridgecrew buyout enabled Prisma Cloud to become the first cloud security platform to deliver security across the full application lifecycle. The Cider Security acquisition in December 2022 further fortified Prisma Cloud’s capabilities.
Likewise, the company's The Crypsis Group buyout in 2020 strengthened its Cortex platform with expert services for incident response and proactive assurance. Such acquisitions are likely to boost PANW’s revenue growth opportunities.
Why Should You Bet in Palo Alto Stocks?
Amid the ongoing macroeconomic headwinds and geopolitical issues, it is prudent to pick solid growth companies as these are financially stable, accruing profits in established markets. These stocks, with their solid fundamentals, allow investors to hedge their funds from any economic downturn.
Considering Palo Alto’s impressive growth profile, we believe that it is the right time to invest in the stock. Apart from having solid fundamentals, the stock has the favorable combination of a Growth Score of B and a Zacks Rank #2 (Buy) at present.
Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 (Strong Buy) or #2 and a Growth Score of A or B offer solid investment opportunities. You can see the complete list of today’s Zacks #1 Rank stocks here.
PANW has an impressive earnings surprise history. The company outpaced estimates in each of the trailing four quarters, the average surprise being 22.19%.
The Zacks Consensus Estimate of $5.34 per share for fiscal 2024 earnings suggests year-over-year growth of approximately 20.3%. The consensus mark for fiscal 2025 earnings is pegged at $6.39 per share, indicating a year-over-year surge of 19.8%. Moreover, the long-term expected earnings growth rate for the stock is pegged at 27.8%, which is better than the industry’s 24.7%.
Other Stocks to Consider
Some other top-ranked stocks from the broader technology sector are Splunk SPLK, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Splunk's third-quarter fiscal 2024 earnings has been revised upward by 12 cents to $1.11 per share for the past 30 days. For fiscal 2024, earnings estimates have moved upward by a penny to $3.77 per share in the past seven days.
Splunk's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 154.90%. Shares of SPLK have soared 68.5% YTD.
The Zacks Consensus Estimate for Dell's third-quarter fiscal 2024 earnings has been revised 11 cents northward to $1.47 per share in the past 30 days. For 2024, earnings estimates have increased by 34 cents to $6.30 per share in the past seven days.
DELL’s earnings beat the Zacks Consensus Estimate four times in the preceding quarters, the average surprise being 39.52%. Shares of Dell have surged 78.3% YTD.
The Zacks Consensus Estimate for NVIDIA’s third-quarter fiscal 2023 earnings has been revised by 42 cents northward to $3.32 per share in the past 30 days. For fiscal 2023, earnings estimates have increased to $10.67 per share from $9.53 in the past 30 days.
NVDA's earnings beat the Zacks Consensus Estimate in the preceding three quarters, while missing the same on one occasion. The average surprise is 9.79%. Shares of NVDA have rallied 184.8% YTD.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
Palo Alto Networks, Inc. (PANW) : 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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Other Stocks to Consider Some other top-ranked stocks from the broader technology sector are Splunk SPLK, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for Dell's third-quarter fiscal 2024 earnings has been revised 11 cents northward to $1.47 per share in the past 30 days. DELL’s earnings beat the Zacks Consensus Estimate four times in the preceding quarters, the average surprise being 39.52%.
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Other Stocks to Consider Some other top-ranked stocks from the broader technology sector are Splunk SPLK, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 at present. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for Dell's third-quarter fiscal 2024 earnings has been revised 11 cents northward to $1.47 per share in the past 30 days.
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The Zacks Consensus Estimate for Dell's third-quarter fiscal 2024 earnings has been revised 11 cents northward to $1.47 per share in the past 30 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report To read this article on Zacks.com click here. Other Stocks to Consider Some other top-ranked stocks from the broader technology sector are Splunk SPLK, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 at present.
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Other Stocks to Consider Some other top-ranked stocks from the broader technology sector are Splunk SPLK, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for Dell's third-quarter fiscal 2024 earnings has been revised 11 cents northward to $1.47 per share in the past 30 days. DELL’s earnings beat the Zacks Consensus Estimate four times in the preceding quarters, the average surprise being 39.52%.
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659bb6ae-d363-4038-8e6a-ad5e87f3c9ea
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725325.0
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2023-09-25 00:00:00 UTC
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Progress Software (PRGS) to Post Q3 Earnings: What's in Store?
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DELL
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https://www.nasdaq.com/articles/progress-software-prgs-to-post-q3-earnings%3A-whats-in-store-0
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nan
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nan
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Progress Software PRGS is slated to release its third-quarter fiscal 2023 results on Sep 26.
For the to-be-reported quarter, the company anticipates non-GAAP revenues in the range of $172 million-$176 million. Non-GAAP earnings are anticipated between 98 cents and $1.02 per share.
The Zacks Consensus Estimate for fiscal third-quarter earnings has declined by a penny to $1 per share over the past 30 days, indicating flat year-over-year growth.
The consensus mark for revenues is pegged at $173.3 million, indicating 13.22% year-over-year growth.
Progress Software Corporation Price and EPS Surprise
Progress Software Corporation price-eps-surprise | Progress Software Corporation Quote
Progress Software’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 9.51% on average.
Factors to Note
The company has been benefiting from a strong portfolio with a robust adoption rate of its OpenEdge, Loadmaster, Chef, Sitefinity Cloud, and MarkLogic solutions. In the fiscal second quarter, the net dollar retention rate was more than 101%. The trend is expected to have continued in the to-be-reported quarter.
Progress Software benefits from a strong clientele. Strong contributions from acquisitions like MarkLogic ($25 million in revenues in the fiscal second quarter) and Kemp are expected to have driven top-line growth in the fiscal third quarter. However, MarkLogic revenues are expected to suffer from seasonality in third-quarter fiscal 2023.
Loadmaster, which the company got through the acquisition of Kemp, is benefiting from expanding Dell Technologies DELL sales channel.
Loadmaster demand has been strong among Dell’s clients as it makes the environment much more reliable and resilient, thereby improving performance. Meanwhile, Sitefinity Cloud is making jobs easier for marketers, thereby saving marketing costs for clients. These trends are expected to have continued in the to-be-reported quarter, driving top-line growth.
Stringent cost management is expected to have benefited bottom-line growth despite headwinds related to persistent inflation, higher interest rates and a challenging macroeconomic environment.
What Our Model Says
Per the Zacks model, 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.
Progress Software has an Earnings ESP of -0.33% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Asure Software ASUR has an Earnings ESP of +21.74% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ASUR shares have gained 43.7% year to date. Asure is likely to report its third-quarter 2023 results on Nov 6.
Fortive FTV has an Earnings ESP of +3.53% and a Zacks Rank #2.
FTV shares have gained 8.5% in the year-to-date period. Fortive is likely to report its third-quarter 2023 results on Oct 25.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Progress Software Corporation (PRGS) : Free Stock Analysis Report
Asure Software Inc (ASUR) : Free Stock Analysis Report
Fortive Corporation (FTV) : 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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Loadmaster, which the company got through the acquisition of Kemp, is benefiting from expanding Dell Technologies DELL sales channel. Loadmaster demand has been strong among Dell’s clients as it makes the environment much more reliable and resilient, thereby improving performance. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Progress Software Corporation (PRGS) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Fortive Corporation (FTV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Progress Software Corporation (PRGS) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Fortive Corporation (FTV) : Free Stock Analysis Report To read this article on Zacks.com click here. Loadmaster, which the company got through the acquisition of Kemp, is benefiting from expanding Dell Technologies DELL sales channel. Loadmaster demand has been strong among Dell’s clients as it makes the environment much more reliable and resilient, thereby improving performance.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Progress Software Corporation (PRGS) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Fortive Corporation (FTV) : Free Stock Analysis Report To read this article on Zacks.com click here. Loadmaster, which the company got through the acquisition of Kemp, is benefiting from expanding Dell Technologies DELL sales channel. Loadmaster demand has been strong among Dell’s clients as it makes the environment much more reliable and resilient, thereby improving performance.
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Loadmaster, which the company got through the acquisition of Kemp, is benefiting from expanding Dell Technologies DELL sales channel. Loadmaster demand has been strong among Dell’s clients as it makes the environment much more reliable and resilient, thereby improving performance. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Progress Software Corporation (PRGS) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Fortive Corporation (FTV) : Free Stock Analysis Report To read this article on Zacks.com click here.
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7f4834a8-952c-40a7-86d7-0a04f3464472
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725326.0
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2023-09-25 00:00:00 UTC
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DELL Crosses Above Average Analyst Target
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DELL
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https://www.nasdaq.com/articles/dell-crosses-above-average-analyst-target
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nan
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nan
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In recent trading, shares of Dell Technologies Inc (Symbol: DELL) have crossed above the average analyst 12-month target price of $69.07, changing hands for $70.05/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 14 different analyst targets within the Zacks coverage universe contributing to that average for Dell Technologies Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $53.00. And then on the other side of the spectrum one analyst has a target as high as $80.00. The standard deviation is $7.141.
But the whole reason to look at the average DELL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DELL crossing above that average target price of $69.07/share, investors in DELL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $69.07 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Dell Technologies Inc:
RECENT DELL ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 8 7 7 7
Buy ratings: 2 2 2 2
Hold ratings: 2 3 3 3
Sell ratings: 0 0 0 0
Strong sell ratings: 1 0 0 0
Average rating: 1.73 1.63 1.63 1.63
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on DELL — FREE.
10 ETFs With Most Upside To Analyst Targets »
Also see:
CVX RSI
Institutional Holders of Expedia Group
Institutional Holders of GT
The views and 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 the whole reason to look at the average DELL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with DELL crossing above that average target price of $69.07/share, investors in DELL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $69.07 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Dell Technologies Inc:
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In recent trading, shares of Dell Technologies Inc (Symbol: DELL) have crossed above the average analyst 12-month target price of $69.07, changing hands for $70.05/share. But the whole reason to look at the average DELL price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. There are 14 different analyst targets within the Zacks coverage universe contributing to that average for Dell Technologies Inc, but the average is just that — a mathematical average.
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There are 14 different analyst targets within the Zacks coverage universe contributing to that average for Dell Technologies Inc, but the average is just that — a mathematical average. And so with DELL crossing above that average target price of $69.07/share, investors in DELL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $69.07 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of Dell Technologies Inc (Symbol: DELL) have crossed above the average analyst 12-month target price of $69.07, changing hands for $70.05/share.
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In recent trading, shares of Dell Technologies Inc (Symbol: DELL) have crossed above the average analyst 12-month target price of $69.07, changing hands for $70.05/share. There are 14 different analyst targets within the Zacks coverage universe contributing to that average for Dell Technologies Inc, but the average is just that — a mathematical average. And so with DELL crossing above that average target price of $69.07/share, investors in DELL have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $69.07 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table?
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37dff70a-eabc-49d8-be72-a244df31faf1
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725327.0
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2023-09-25 00:00:00 UTC
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Wall Street Suffering From September Syndrome: 5 Value Picks
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DELL
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https://www.nasdaq.com/articles/wall-street-suffering-from-september-syndrome%3A-5-value-picks
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nan
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nan
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September is historically known as Wall Street’s worst performing month and this year is no exception. Month to date, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — are down 2.2%, 4.2% and 5.9%, respectively. Moreover, last week, both the S&P 500 and the Nasdaq Composite posted their worst-perming week since March.
U.S. stocks markets have seen an impressive rally in the first seven months of this year, buoyed by the Fed’s decision to reduce the magnitude of interest rate hikes and positive statements by Fed Chairman Jerome Powell as the inflation rate declined steadily.
Market participants were mulling over the end of the ongoing rate hike cycle and the relaxation of restrictive monetary policies. However, this month’s post-FOMC meeting statement by Powell has dampened investors sentiments.
Concerns Regarding Fed’s Future Movements
In its September FOMC meeting, the Fed kept the benchmark lending rate unchanged at the existing 5.25-5.5%, as stated on Sep 20. However, the post-FOMC statement of Fed Chairman Jerome Powell dampened market participants’ sentiments.
Although the Fed paused its rate hike in the September FOMC meeting, the current dot-plot has shown a strong likelihood of one more hike of 25 basis points in 2023. That will take the terminal interest rate of this hiking cycle to 5.6%, well above the 5.1% forecast in June. Notably, the current range of the Fed fund rate is at the highest level since March 2001.
More importantly, the central bank said it would keep interest rates higher for a longer time period. The new projection has shown two maximum rate cuts in 2024 instead of four projected in June. The first cut in interest rate is not expected before September 2024.
Soaring Yields on Sovereign Bonds
Following the post-FOMC statement of Jerome Powell, the yield on the short-term 2-Year U.S. Treasury Note reached 5.441%, its highest level since 2006. This is closely linked to the possibility of a near-term economic downturn. The yield on the benchmark 10-Year U.S. Treasury Note touched 4.494%, its highest level since 2007.
A higher interest rate is detrimental to stock investing. It will push up the discount rate thereby reducing the net present value of investment from equities. Moreover, growth-oriented large-cap companies as well as the entire small and mid-cap space is heavily dependent on the chip source of credit. Therefore, a higher interest rate is likely to slow down U.S. economic growth.
Fears of a Government Shutdown
On Jun 21, Republican members of the House of Representatives sent the chamber into recess raising fears of a government shutdown. The House failed to agree on measures to set the rule for debate on a Pentagon funding bill. The bill was set for final voting on the floor of the House. Economists are concerned that a government shutdown will adversely impact the U.S. GDP growth rate in fourth-quarter 2023.
Our Top Picks
At this stage, investors should be prepared to minimize fluctuations in their portfolio and consequently rebalance it with suitable financial assets to maintain stability. It would be prudent to pick value stocks with a favorable Zacks Rank to cushion the portfolio as well as make some gains from the upside potential. These stocks could prove to be valuable once the rally resumes.
We have narrowed our search to five value stocks. Each of our picks carries a Zacks Rank #1 (Strong Buy) and a Value Score of A or B. You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past three months.
Image Source: Zacks Investment Research
Guess? Inc. GES has been benefitting from its businesses across Europe and Asia, along with its focus on six strategic initiatives. The core strategies of GES include organization and culture, functional capacities, brand relevance with three main consumer groups (heritage, Millennials and Generation Z customers), customer focus, product brilliance, and an international footprint. Also, GES is progressing with its customer-centric initiatives, including omnichannel capabilities and advanced data analytics.
The forward P/E of Guess? for the current financial year is 7.25X, lower than the industry average of 11.83X. It has a PEG ratio of 0.95, lower than the industry average of 1.21. The Zacks Consensus Estimate for current-year earnings has improved 5.2% over the last 30 days.
Urban Outfitters Inc.’s URBN strategic growth initiative, FP Movement, and store-related efforts bode well. The FP Movement appears encouraging, for URBN generating above 57% comps growth during the second quarter of fiscal 2024.
Brandwise, net sales of URBN were up 10.6% for the Anthropologie Group and 22% for Free People. Also, the Retail segment’s comparable net sales grew 4.9% backed by a mid-single-digit increase in retail-store sales and digital channel sales.
The forward P/E of Urban Outfitters for the current financial year is 10.92X, lower than the industry average of 12.82X. It has a PEG ratio of 0.46, lower than the industry average of 1.18. The Zacks Consensus Estimate for current-year earnings has improved 1.6% over the last 30 days.
Abercrombie & Fitch Co. ANF has benefitted from the continued momentum in the Abercrombie brand and a sequential improvement in the Hollister brand. Lower freight costs and robust AUR growth aided margins. Consequently, ANF expects year-over-year sales growth of 10% for fiscal 2023. Store optimization and the Always Forward plan bode well.
The forward P/E of Abercrombie & Fitch for the current financial year is 12.63X, lower than the industry average of 12.82X. It has a PEG ratio of 0.04, lower than the industry average of 1.18. The Zacks Consensus Estimate for current-year earnings has improved 75.8% over the last 30 days.
Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments — Infrastructure Solutions Group and Client Solutions Group.
The forward P/E of Dell Technologies for the current financial year is 11.13X, lower than the industry average of 26.03X. It has a P/S ratio of 0.54, lower than the industry average of 1.94. The Zacks Consensus Estimate for current-year earnings has improved 13.3% over the last 30 days.
Owens Corning OC is benefiting from the solid performance of the Roofing segment driven by higher volumes related to storm activity and positive price realization. OC’s favorable product and customer mix along with strategic buyouts are added benefits. OC’s focus on new product and process innovation bodes well. Year to date, it has unveiled 17 new refreshed products across core platforms in Roofing, Insulation and Composite businesses.
The forward P/E of Owens Corning for the current financial year is 10.07X, lower than the industry average of 14.76X. It has a P/S ratio of 1.25, lower than the industry average of 1.36. The Zacks Consensus Estimate for current-year earnings has improved 0.1% over the last 30 days.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report
Guess?, Inc. (GES) : Free Stock Analysis Report
Owens Corning Inc (OC) : 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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Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments — Infrastructure Solutions Group and Client Solutions Group. The forward P/E of Dell Technologies for the current financial year is 11.13X, lower than the industry average of 26.03X.
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Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report Guess?, Inc. (GES) : Free Stock Analysis Report Owens Corning Inc (OC) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments — Infrastructure Solutions Group and Client Solutions Group.
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The forward P/E of Dell Technologies for the current financial year is 11.13X, lower than the industry average of 26.03X. Click to get this free report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report Guess?, Inc. (GES) : Free Stock Analysis Report Owens Corning Inc (OC) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments — Infrastructure Solutions Group and Client Solutions Group. The forward P/E of Dell Technologies for the current financial year is 11.13X, lower than the industry average of 26.03X.
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b355ffe7-4fcb-4762-b89d-f93bb3a3954f
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725328.0
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2023-09-25 00:00:00 UTC
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5 Premium PEG-Based Value Stocks for Investors
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DELL
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https://www.nasdaq.com/articles/5-premium-peg-based-value-stocks-for-investors
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nan
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nan
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In a market dealing with external shocks, value investing or the strategy of putting money in underappreciated stocks is fast gaining popularity. Although these stocks are apparently cheap compared to their peers and market, investment is done with the hope that the stock price will appreciate reasonably to match the intrinsic value of the business.
Several stocks that have surged significantly in the recent past have shown the overwhelming success of this pure-play investment strategy. Here, we discuss five such stocks — CRH plc CRH, American Eagle Outfitters AEO, Toll Brothers TOL, OSI Systems, Inc. OSIS and Dell Technologies DELL.
More on Value Investing
While searching for a suitable investment option, value investors with varied risk appetite are unlikely to consider price/earnings to growth (PEG) ratio among a number of other popular metrics like price/earnings (P/E), price/sales (P/S) or price/book value (P/B).
This is because they often find this ratio complicated, considering the limitations in calculating the future earnings growth potential of a stock. Yardsticks such as dividend yield, P/E or P/B are most commonly used to single out stocks trading at a discount.
However, these ratios, while not taking into account the future growth potential of a stock, may end up convincing us to invest in stocks that are at a discount just because of their poor show. This may often lead to “value traps” — a situation when these value picks start to underperform over the long run as the temporary problems, which once pulled down the share price, turn out to be persistent.
In such a case, even if you buy a stock at less than its fair value, you might still end up paying more. And here comes the importance of this not-so-popular but crucial value investing metric, the PEG ratio.
The PEG ratio is defined as: (Price/ Earnings)/Earnings Growth Rate
A low PEG ratio is always better for value investors.
While P/E alone fails to identify a true value stock, PEG helps to find the intrinsic value of a stock.
There are some drawbacks to using the PEG ratio though. It doesn’t consider the common situation of changing growth rates such as the forecast of the first three years at a very high growth rate, followed by a sustainable but lower growth rate in the long term.
Hence, PEG-based investing can turn out to be even more rewarding if some other relevant parameters are also taken into consideration.
Here are some of the screening criteria for a winning strategy:
PEG Ratio less than X Industry Median
P/E Ratio (using F1) less than X Industry Median (for more accurate valuation purpose)
Zacks Rank of 1 (Strong Buy) or 2 (Buy) (Whether good market conditions or bad, stocks with a Zacks Rank #1 or 2 have a proven history of success.)
Market Capitalization greater than $1 Billion (This helps us to focus on companies that have strong liquidity.)
Average 20 Day Volume greater than 50,000 (A substantial trading volume ensures that the stock is easily tradable.)
Percentage Change F1 Earnings Estimate Revisions (4 Weeks) greater than 5% (Upward estimate revisions add to the optimism, suggesting further bullishness.)
Value Score of less than or equal to B: Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 or 3 (Hold) offer the best upside potential.
Here are the five stocks that qualified the screening:
CRH: It is the leading provider of building materials solutions. The company has market leadership positions in both North America and Europe. As the essential partner for road and critical utility infrastructure, commercial building projects and outdoor living solutions, CRH's unique offering of materials, products and value-added services helps to deliver a more resilient and sustainable built environment.
CRH has a long-term expected growth rate of 16.2%. CRH currently carries a Zacks Rank of #1 and has a Value Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle: Based in Pittsburgh, PA, American Eagle is a specialty retailer of casual apparel, accessories and footwear for men and women aged 15–25 years. American Eagle, along with its subsidiaries, engages in the designing and marketing of casual clothing. The company’s assortment includes jeans, cargo pants, graphic T-shirts, as well as a range of accessories, outerwear and footwear.
American Eagle currently holds a Zacks Rank #1 and has a Value Score of A. American Eagle also has an impressive five-year expected growth rate of 15.3%.
Toll Brothers: Based in Horsham, PA, Toll Brothers builds single-family detached and attached home communities; master planned luxury residential resort-style golf communities; and urban low, mid, and high-rise communities, principally on the land it develops and improves.
Apart from a discounted PEG and P/E, Toll Brothers currently has a Zacks Rank #1 and a Value Score of B. Toll Brothers has a long-term historical growth rate of 23.9%.
OSI Systems: The company is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense, and aerospace industries. OSI Systems combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end-product markets.
Apart from a discounted PEG and P/E, OSIS currently has a Zacks Rank #2 and a Value Score of B. OSI Systems has a long-term expected growth rate of 11%.
Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company’s Infrastructure Solutions Group segment provides traditional and next-generation storage solutions. The Client Solutions Group segment provides desktops, workstations and notebooks; displays, docking stations, and other electronics; and third-party software and peripherals, as well as support and deployment, configuration and extended warranty services.
Dell currently holds a Zacks Rank #1 and has a Value Score of A. It also has an impressive five-year expected growth rate of 12%.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
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
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Toll Brothers Inc. (TOL) : Free Stock Analysis Report
OSI Systems, Inc. (OSIS) : Free Stock Analysis Report
CRH PLC (CRH) : 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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Here, we discuss five such stocks — CRH plc CRH, American Eagle Outfitters AEO, Toll Brothers TOL, OSI Systems, Inc. OSIS and Dell Technologies DELL. Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. Dell currently holds a Zacks Rank #1 and has a Value Score of A.
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Here, we discuss five such stocks — CRH plc CRH, American Eagle Outfitters AEO, Toll Brothers TOL, OSI Systems, Inc. OSIS and Dell Technologies DELL. Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Toll Brothers Inc. (TOL) : Free Stock Analysis Report OSI Systems, Inc. (OSIS) : Free Stock Analysis Report CRH PLC (CRH) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Toll Brothers Inc. (TOL) : Free Stock Analysis Report OSI Systems, Inc. (OSIS) : Free Stock Analysis Report CRH PLC (CRH) : Free Stock Analysis Report To read this article on Zacks.com click here. Here, we discuss five such stocks — CRH plc CRH, American Eagle Outfitters AEO, Toll Brothers TOL, OSI Systems, Inc. OSIS and Dell Technologies DELL. Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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Here, we discuss five such stocks — CRH plc CRH, American Eagle Outfitters AEO, Toll Brothers TOL, OSI Systems, Inc. OSIS and Dell Technologies DELL. Dell: It designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. Dell currently holds a Zacks Rank #1 and has a Value Score of A.
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a81abefb-c71e-46db-bf35-423c41d46b0c
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725329.0
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2023-09-23 00:00:00 UTC
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India to delay import licensing of laptops after US, industry push back-sources
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DELL
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https://www.nasdaq.com/articles/india-to-delay-import-licensing-of-laptops-after-us-industry-push-back-sources
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nan
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nan
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By Munsif Vengattil and Shivangi Acharya
NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others.
The plan will be delayed by a year, after which the government will consider whether to implement a licensing regime or not, one of the officials told Reuters, requesting anonymity.
The licensing regime, announced abruptly on Aug. 3, aimed to "ensure trusted hardware and systems" enter India, reduce dependence on imports, boost local manufacturing and in part address the country's trade imbalance with China.
But following industry objections, the initial plan was quickly delayed by about three months.
Last month U.S. trade chief Katherine Tai raised concerns with India over the move, which would also affect companies such as Dell DELL.N and HP HPE.N.
India's electronics ministry is now proposing a simpler import registration process that is due to start in November, said the officials, who have direct knowledge of the discussions.
A representative for India's IT ministry did not immediately respond to a request for comment.
The new 'imports management system' will need companies to obtain 'registration certificates' for imports of laptops, tablets and personal computers, instead of licences proposed earlier by the Aug.3 order, one of the officials said.
The ministry conveyed the proposal to industry officials in a meeting on Friday, they added.
India's electronics imports, including laptops, tablets and personal computers, stood at $19.7 billion in the April to June period, up 6.25% year-on-year.
(Reporting by Munsif Vengattil and Shivangi Acharya in New Delhi; Editing by William Mallard and Clelia Oziel)
((Sarita.ChagantiSingh@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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Last month U.S. trade chief Katherine Tai raised concerns with India over the move, which would also affect companies such as Dell DELL.N and HP HPE.N. The licensing regime, announced abruptly on Aug. 3, aimed to "ensure trusted hardware and systems" enter India, reduce dependence on imports, boost local manufacturing and in part address the country's trade imbalance with China. India's electronics ministry is now proposing a simpler import registration process that is due to start in November, said the officials, who have direct knowledge of the discussions.
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Last month U.S. trade chief Katherine Tai raised concerns with India over the move, which would also affect companies such as Dell DELL.N and HP HPE.N. By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. The new 'imports management system' will need companies to obtain 'registration certificates' for imports of laptops, tablets and personal computers, instead of licences proposed earlier by the Aug.3 order, one of the officials said.
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Last month U.S. trade chief Katherine Tai raised concerns with India over the move, which would also affect companies such as Dell DELL.N and HP HPE.N. By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. India's electronics ministry is now proposing a simpler import registration process that is due to start in November, said the officials, who have direct knowledge of the discussions.
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Last month U.S. trade chief Katherine Tai raised concerns with India over the move, which would also affect companies such as Dell DELL.N and HP HPE.N. By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. The plan will be delayed by a year, after which the government will consider whether to implement a licensing regime or not, one of the officials told Reuters, requesting anonymity.
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0dc6ce8e-0a48-4ad2-8c96-7aef96cc1c41
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725330.0
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2023-09-22 00:00:00 UTC
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Carrier (CARR) Boosts Refrigeration Segment With relayr Deal
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DELL
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https://www.nasdaq.com/articles/carrier-carr-boosts-refrigeration-segment-with-relayr-deal
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nan
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nan
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Carrier Global’s CARR Commercial Refrigeration unit has partnered with relayr to launch a Refrigeration-as-a-Service (RaaS) solution.
Notably, the comprehensive RaaS solution integrates industry knowledge, energy-efficient refrigeration systems and optimized operations, backed by innovative IoT technology.
The solution is designed to allow food retailers to make monthly payments for refrigeration performance instead of making upfront investments, thereby enhancing efficiency, reliability, cost performance and business resiliency.
We note that the underlined solution will likely help Carrier in gaining traction among food retailers.
Further, the partnership with relayr will help Carrier strengthen its presence in the commercial refrigeration space.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Growth Prospects
Per an IMARC Group report, the global commercial refrigeration market size is expected to hit $37.2 billion by 2028, indicating a CAGR of 4.5% between 2023 and 2028.
A Spherical Insights report suggests that the market is expected to reach $59.9 billion by 2032, witnessing a CAGR of 5.5% during the period of 2022-2032.
We believe that Carrier’s growing prospects in the booming commercial refrigeration market will likely instill investor optimism in the stock.
Notably, CARR has gained 27.4% in the year-to-date period, outperforming the industry’s rally of 10.9%.
Expanding Refrigeration Portfolio
The latest move is in sync with Carrier’s growing efforts toward strengthening its Refrigeration segment’s portfolio.
Recently, Carrier Commercial Refrigeration introduced HeatCO2 OL heat pumps, utilizing renewable energy sources for compact, efficient design, reducing carbon emissions and accelerating sustainability efforts at low ownership costs.
Further, Carrier’s refrigerated transport and cold chain visibility brand, Transicold, introduced its new Vector 8400R refrigeration unit for domestic intermodal containers, offering improved fuel efficiency and lifetime compliance with California's latest emissions standards.
Further, Transicold unveiled the Vector S15 temperature-controlled trailer unit, which offers fuel efficiency, low maintenance costs and improved performance, reducing operating costs and carbon impact.
Also, Transicold launched the Aspen diesel auxiliary power unit, which offers reliable climate control and power during rest breaks for long-haul truck drivers, reducing fuel consumption and carbon emissions.
We believe that the abovementioned endeavors will likely drive the refrigeration segment’s performance in the days ahead.
Our model estimate for 2023 refrigeration revenues stands at $3.7 billion, indicating year-over-year growth of 16.7%.
Further, strong momentum in the Refrigeration segment will likely benefit Carrier’s overall financial performance in the upcoming period.
For 2023, Carrier expects sales of $22 billion.
Zacks Rank and Other Stocks to Consider
Currently, Carrier carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 70.2% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Badger Meter shares have gained 40% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 15.05%.
Arista Networks shares have gained 46.6% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%.
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
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
Carrier Global Corporation (CARR) : 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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Some other top-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 each. Dell Technologies shares have gained 70.2% in the year-to-date period.
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While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 each. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report Carrier Global Corporation (CARR) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other top-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET.
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Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report Carrier Global Corporation (CARR) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other top-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 each.
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Some other top-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 each. Dell Technologies shares have gained 70.2% in the year-to-date period.
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2d6fd59d-253c-40fb-bf0c-d0ac68dbe8d4
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725331.0
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2023-09-22 00:00:00 UTC
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Infosys' (INFY) Finacle Partners With Guaranty Trust Bank
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DELL
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https://www.nasdaq.com/articles/infosys-infy-finacle-partners-with-guaranty-trust-bank
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nan
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nan
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Infosys' INFY wholly-owned subsidiary, Finacle, has been chosen as the new digital transformation partner by Nigeria's Guaranty Trust Bank (“GTBank”). Notably, GTBank is set to initiate its multi-country digital transformation program using the Finacle Digital Banking Suite.
Finacle positions itself as the foremost provider of comprehensive digital banking solutions, catering to core banking, digital engagement, lending, payments, cash management and a wide array of other services. Additionally, it meets the artificial intelligence and blockchain needs of financial institutions.
GTBank, aiming to enhance its digitization and automation efforts while achieving cost-efficiency, chose Finacle due to its well-established track record in retail, wealth and corporate banking. The Finacle Digital Banking Suite will utilize Finacle's Cloud Native and API-Driven features, preparing GTBank for seamless integration with its ecosystem partners.
Infosys Limited Price and Consensus
Infosys Limited price-consensus-chart | Infosys Limited Quote
GTB Deal to Boost Infosys’ Financial Services Business
Shares of Infosys have declined 1.5% year to date against the Computer and Technology Sector’s rise of 34.7% in the same time frame.
This new partnership with GTBank has the potential to relieve the persistent weakness experienced by this Zacks Rank #4 (Sell) company, particularly within its banking and financial services clients, especially in areas like asset management, investment banking, mortgage, cards and payments.
In the last reported financial results for first-quarter fiscal 2024, Infosys noticed that financial institutions are delaying its decision-making processes amid the ongoing macroeconomic challenges. In the first quarter, revenues from the Financial Services segment fell 4.7% to $1.3 billion. The softness was particularly noticeable in Europe.
This new GTB deal, which has operations across multiple markets in Europe and Africa, can boost INFY’s Financial Services performance. Additionally, the large U.S. banking clients remained strong in the first quarter of 2024, offsetting some of Infosys' challenges.
INFY’s first-quarter revenues of 2024 grew 3.9% on a year-over-year basis to $4.62 billion. For fiscal 2024, the company expects revenues to grow between 1% and 3.5% year over year at cc. The Zacks Consensus Estimate is pegged at $18.63 billion, indicating 3.9% year-over-year growth.
Stocks to Consider
Some better-ranked stocks from the broader technology sector are Asure Software ASUR, NVIDIA NVDA and Dell DELL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Asure Software’s third-quarter 2023 earnings has been revised northward by a penny to 6 cents per share in the past seven days. For 2023, earnings estimates have moved 2 cents upward to 54 cents per share in the past seven days.
Asure Software’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 676.4%. Shares of ASUR have lost 12.1% year to date.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised northward by $1 to $3.32 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by $2.67 to $10.67 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters, while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have surged 180.6% year to date.
The Zacks Consensus Estimate for Dell’s third-quarter 2023 earnings has been revised 8.08% upward to $1.47 per share in the past 30 days. For 2023, earnings estimates have moved 13.51% upward to $6.30 per share in the past 30 days.
Dell’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 39.52%. Shares of DELL have surged 70.1% year to date.
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
American Noble Gas Inc. (INFY) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Asure Software Inc (ASUR) : 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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Stocks to Consider Some better-ranked stocks from the broader technology sector are Asure Software ASUR, NVIDIA NVDA and Dell DELL, each sporting a Zacks Rank #1 (Strong Buy) at present. The Zacks Consensus Estimate for Dell’s third-quarter 2023 earnings has been revised 8.08% upward to $1.47 per share in the past 30 days. Dell’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 39.52%.
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Stocks to Consider Some better-ranked stocks from the broader technology sector are Asure Software ASUR, NVIDIA NVDA and Dell DELL, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report American Noble Gas Inc. (INFY) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for Dell’s third-quarter 2023 earnings has been revised 8.08% upward to $1.47 per share in the past 30 days.
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Click to get this free report American Noble Gas Inc. (INFY) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks to Consider Some better-ranked stocks from the broader technology sector are Asure Software ASUR, NVIDIA NVDA and Dell DELL, each sporting a Zacks Rank #1 (Strong Buy) at present. The Zacks Consensus Estimate for Dell’s third-quarter 2023 earnings has been revised 8.08% upward to $1.47 per share in the past 30 days.
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Stocks to Consider Some better-ranked stocks from the broader technology sector are Asure Software ASUR, NVIDIA NVDA and Dell DELL, each sporting a Zacks Rank #1 (Strong Buy) at present. The Zacks Consensus Estimate for Dell’s third-quarter 2023 earnings has been revised 8.08% upward to $1.47 per share in the past 30 days. Dell’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 39.52%.
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9e5ce52c-7404-419d-81d6-92dd4c656357
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725332.0
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2023-09-22 00:00:00 UTC
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Citigroup Maintains Dell Technologies Inc - Class C (DELL) Buy Recommendation
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DELL
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https://www.nasdaq.com/articles/citigroup-maintains-dell-technologies-inc-class-c-dell-buy-recommendation
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nan
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nan
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Fintel reports that on September 22, 2023, Citigroup maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation.
Analyst Price Forecast Suggests 14.20% Downside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents a decrease of 14.20% from its latest reported closing price of 68.44.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
What is the Fund Sentiment?
There are 1120 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is a decrease of 24 owner(s) or 2.10% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 12.90%. Total shares owned by institutions increased in the last three months by 2.02% to 218,365K shares.
The put/call ratio of DELL is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.05% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 22, 2023, Citigroup maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 14.20% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 22, 2023, Citigroup maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 14.20% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Fintel reports that on September 22, 2023, Citigroup maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 14.20% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Analyst Price Forecast Suggests 14.20% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. There are 1120 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is a decrease of 24 owner(s) or 2.10% in the last quarter. Fintel reports that on September 22, 2023, Citigroup maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation.
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b562f884-f826-4984-b878-680586892472
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725333.0
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2023-09-21 00:00:00 UTC
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Buy the Dip? 2 Top Ranked Tech Stocks Pulling Back Now
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DELL
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https://www.nasdaq.com/articles/buy-the-dip-2-top-ranked-tech-stocks-pulling-back-now
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nan
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nan
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Following the Fed’s interest rate announcement on Wednesday stocks sold off aggressively, but was that just a knee jerk reaction? If so, this sell-off is an incredible opportunity to pick up leading technology stocks.
At the FOMC meeting yesterday, Jerome Powell left interest rates as they were, confirming the market’s suspicion that they would pause interest rate hikes. But, the committee’s dot plot, a forecast of future rate hikes, indicated a more hawkish tone, which is the likely cause of the sharp sell off. However, they also increased GDP growth expectations.
I think it is short-sighted to discount this as bad news. It looks to me that the Fed is taking a defensive stance and showing that they remain extremely cautious in its fight against inflation. This leaves the possibility for surprises to the upside though, because so long as economic growth and inflation don’t surprise to the upside, the market can expect more dovishness in the future.
Along with the tremendous strength the stock market has shown this year, I continue to expect a strong performance into the end of the year. Because of this stance, I am focused on picking up shares in the strongest stocks in the market.
It also appears that investors are puking technology stocks, which has been the strongest sector of the year. During the month of September, the technology sector ETF XLK is the weakest of the bunch and is coming into levels that signal it may be oversold.
Image Source: Koyfin
Vertiv
Vertiv VRT is a global company that specializes in designing, manufacturing, and servicing critical infrastructure technologies for vital applications in data centers, communication networks, and commercial and industrial environments.
Headquartered in Columbus, Ohio, Vertiv's portfolio includes power management products, thermal management solutions, integrated rack systems, and other technologies essential for ensuring the continuous operation of crucial electronic systems. Vertiv serves a diverse range of customers, including data center operators and telecom network providers, striving to meet the evolving needs of the digital landscape.
In addition to being one of the best performing stocks in the market YTD, Vertiv enjoys a Zacks Rank #1 (Strong Buy) rating, indicating upward trending earnings revisions.
Image Source: Zacks Investment Research
Sales for VRT are projected to grow by 20% annually in the current fiscal year to $6.8 billion, while earnings are expected to increase by 200% YoY to $1.59 per share for the same period. Furthermore, analysts have unanimously upgraded earnings estimates across timeframes for the technology company by as much as 32%.
Image Source: Zacks Investment Research
Even with its high sales and earnings growth VRT trades at a relatively fair valuation. It is trading at a one year forward earnings multiple of 23.3x, which is below the industry average of 35x, and just above its three-year median of 21x.
Image Source: Zacks Investment Research
Dell Technologies
Dell Technologies DELL is a multinational technology company known for its innovations in the personal computing industry. Founded by Michael Dell in 1984, the company has expanded its offerings to include laptops, desktops, servers, storage solutions, networking products, software, and related services.
Headquartered in Round Rock, Texas, Dell Technologies serves customers worldwide, ranging from individual consumers to large enterprises, with a focus on delivering cutting-edge technologies and solutions. The company operates under a variety of brands including Dell, Dell EMC, Pivotal, RSA, Secureworks, Virtustream, and VMware, addressing a broad spectrum of technology needs.
Although DELL has moved out of the spotlight, which favors some other more well-known technology companies, it has been a fantastic stock to own this year, nonetheless. With returns of 74% YTD it has far outperformed both the broad market and respective industry.
Image Source: Zacks Investment Research
Dell Technologies stock also has one of the most compelling technical chart patterns in the market. The price action has been forming an ideal bull flag. So long as this market holds up, and Dell remains above the support level of $67.75, it should begin to move higher, and breakout above the $69.75 level and rally to new highs.
Image Source: TradingView
Earnings estimates for Dell Technologies have been on the rise, as you can see in the chart below, they have snapped higher in the last week, giving it a Zacks Rank #1 (Strong Buy) rating. Current quarter earnings estimates have been increased by 8.1%, while FY23 have been raised by 13.5%.
Image Source: Zacks Investment Research
DELL too trades at a very fair valuation. Today, it is trading at a one year forward earnings multiple of 13x, which is well below the industry average of 35x, and above its three-year median of 10.3x.
Image Source: Zacks Investment Research
Bottom Line
The recent turbulent market reactions post-Fed announcements I think are more of transient and emotional adjustments rather than a harbinger of a lasting downturn. The current scenario is ripe with opportunities, particularly within the resilient tech sector. The Fed’s protective stance and the market’s enduring strength this year are indicative of the latent potential for sustained growth and favorable returns. Now may be a pivotal moment for discerning investors to capitalize on these temporary setbacks in the tech sector and fortify their portfolios.
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Vertiv Holdings Co. (VRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: TradingView Earnings estimates for Dell Technologies have been on the rise, as you can see in the chart below, they have snapped higher in the last week, giving it a Zacks Rank #1 (Strong Buy) rating. Image Source: Zacks Investment Research Dell Technologies Dell Technologies DELL is a multinational technology company known for its innovations in the personal computing industry. Founded by Michael Dell in 1984, the company has expanded its offerings to include laptops, desktops, servers, storage solutions, networking products, software, and related services.
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Image Source: Zacks Investment Research Dell Technologies Dell Technologies DELL is a multinational technology company known for its innovations in the personal computing industry. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report To read this article on Zacks.com click here. Founded by Michael Dell in 1984, the company has expanded its offerings to include laptops, desktops, servers, storage solutions, networking products, software, and related services.
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Image Source: Zacks Investment Research Dell Technologies Dell Technologies DELL is a multinational technology company known for its innovations in the personal computing industry. Image Source: Zacks Investment Research Dell Technologies stock also has one of the most compelling technical chart patterns in the market. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Image Source: Zacks Investment Research Dell Technologies Dell Technologies DELL is a multinational technology company known for its innovations in the personal computing industry. Image Source: Zacks Investment Research DELL too trades at a very fair valuation. Founded by Michael Dell in 1984, the company has expanded its offerings to include laptops, desktops, servers, storage solutions, networking products, software, and related services.
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f84d2b77-9837-473d-924a-a67a87b6adcf
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725334.0
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2023-09-21 00:00:00 UTC
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Cisco Systems (CSCO) Set to Acquire Splunk for $28 Billion
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DELL
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https://www.nasdaq.com/articles/cisco-systems-csco-set-to-acquire-splunk-for-%2428-billion
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nan
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nan
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Cisco Systems CSCO is set to acquire Splunk SPLK for roughly $28 billion, which equates to $157 per share. The buyout will help Cisco offer solutions that detect threats faced by organizations and respond to threat prediction and prevention.
The deal will boost Cisco’s recurring revenue base. It is expected to be cash flow positive and gross margin accretive in the first fiscal year post-completion and non-GAAP earnings accretive in the second year.
The addition of Splunk will help expand Cisco’s footprint in the cybersecurity domain and accelerate its strategy of securely connecting everything.
Expanding Security Portfolio to Aid Prospect
Cisco shares have returned 16.5% year to date, outperforming the Zacks Computer – Networking industry’s growth of 15.2% but underperforming the Zacks Computer & Technology sector’s return of 34.7%.
Cisco Systems, Inc. Price and Consensus
Cisco Systems, Inc. price-consensus-chart | Cisco Systems, Inc. Quote
Cisco is riding on the growing demand for its security, artificial intelligence and cloud products. Its security portfolio is benefiting from the launch of new data loss prevention, firewall and zero trust capabilities.
Cisco’s investments across the security business, focusing on cloud-based and AI-driven offerings, are expected to drive growth. Expanding growth opportunities for low-power-consuming technologies, including IoT, Silicon One and Power over Ethernet bodes well for the company’s prospects.
For first-quarter fiscal 2024, Cisco expects revenues between $14.5 billion and $14.7 billion. Non-GAAP earnings are anticipated between $1.02 and $1.04 per share.
The Zacks Consensus Estimate for fiscal first quarter revenues is pegged at $14.61 billion, indicating 7.18% year-over-year growth. The consensus estimate for earnings is pegged at $1.03 per share, up a penny over the past 30 days.
For fiscal 2024, revenues are expected between $57 billion and $58.2 billion. Non-GAAP earnings are anticipated between $4.01 and $4.08 per share.
The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $57.74 billion, indicating 1.3% year-over-year growth. The consensus estimate for earnings is pegged at $4.05 per share, up a penny over the past 30 days.
Zacks Rank & Stocks to Consider
Cisco currently has a Zacks Rank #3 (Hold).
Dell Technologies DELL and NVIDIA NVDA are a couple of better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NVDA and DELL have returned 189% and 71.4% year to date, respectively.
The long-term earnings growth rate for Dell Technologies and NVIDIA is currently pegged at 12% and 13.5%, respectively.
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
Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL and NVIDIA NVDA are a couple of better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA and DELL have returned 189% and 71.4% year to date, respectively. The long-term earnings growth rate for Dell Technologies and NVIDIA is currently pegged at 12% and 13.5%, respectively.
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Click to get this free report Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL and NVIDIA NVDA are a couple of better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA and DELL have returned 189% and 71.4% year to date, respectively.
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Click to get this free report Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL and NVIDIA NVDA are a couple of better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA and DELL have returned 189% and 71.4% year to date, respectively.
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Dell Technologies DELL and NVIDIA NVDA are a couple of better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA and DELL have returned 189% and 71.4% year to date, respectively. The long-term earnings growth rate for Dell Technologies and NVIDIA is currently pegged at 12% and 13.5%, respectively.
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3ef3ef52-31ed-4dcc-ae76-e8a22fd41a62
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725335.0
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2023-09-21 00:00:00 UTC
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NXP Semiconductors (NXPI) Boosts R&D Efforts Across Europe
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DELL
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https://www.nasdaq.com/articles/nxp-semiconductors-nxpi-boosts-rd-efforts-across-europe
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nan
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nan
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NXP Semiconductors N.V. NXPI plans to bring advancement in its research and development (R&D) operations in Europe, on the back of the latest grant.
Notably, the company is about to receive grants from the 2nd Important Project of Common European Interest on Microelectronics and Communication Technologies (IPCEI ME/CT).
The funding will support NXPI’s core technology innovation in automotive, industrial, and cybersecurity end markets across Austria, Germany, the Netherlands and Romania.
This apart, NXP Semiconductors plans to invest in the abovementioned countries, demonstrating its commitment to the European Union's (EU) goal of digital and green transition.
We note that these endeavors are expected to strengthen NXPI’s research work on key microelectronics technologies across four European countries, namely Austria, Germany, the Netherlands and Romania.
NXP Semiconductors N.V. Price and Consensus
NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote
Growing Focus in Europe
The latest announcement bodes well for the company’s growing focus to strengthen its presence across the EU.
This apart, NXP Semiconductors announced a joint venture agreement with TSMC, Robert Bosch GmbH and Infineon Technologies AG to invest in European Semiconductor Manufacturing Company, a 300mm fab to meet the future capacity demands of the rapidly expanding automotive and industrial sectors in Europe.
Further, NXP Semiconductors has signed a Memorandum of Understanding with Eindhoven University of Technology in the Netherlands to jointly develop a revolutionary wireless communication technology above 300 GHz.
We believe that the abovementioned endeavors will aid the company in its efforts to bolster the European semiconductor ecosystem.
This, in turn, will enable the company to strengthen its footing in the European semiconductor market.
Per a Statista report, the European semiconductors market is expected to hit $37.34 billion in revenues in 2023 and reach $68.62 billion by 2027, witnessing a CAGR of 6.6% between 2023 and 2027.
Growing prospects in the promising market will likely instill investor optimism in the stock.
Notably, NXPI shares have gained 23.4% in the year-to-date period, outperforming the industry’s growth of 16.4%.
Wrapping Up
We believe that the latest move is in sync with NXP Semiconductors’ increasing focus on R&D activities.
With increased R&D investments, the company plans to increase its focus on 5nm, advanced driving assistance and battery management systems in automotive, 6G and Ultra-Wideband and artificial intelligence, RISC-V and post-quantum cryptography innovations.
Our model estimates third-quarter 2023 non-GAAP R&D expenses to reach $523.5 million, indicating a year-over-year rise of 4.3%.
Strong momentum in R&D will, in turn, help the company to bolster its overall portfolio offerings across various end markets.
Notably, NXP Semiconductors has introduced a suite of top-side cooled RF amplifier modules, which enable thinner and lighter radios for 5G infrastructure, reducing radio thickness and weight by more than 20% and carbon footprint.
Further, the company partnered with TSMC to deliver the first automotive-embedded Magnetic Random Access Memory in 16 nm FinFET technology, enabling automakers to support multiple software upgrades on a single hardware platform.
We note that strength in the overall portfolio offerings will likely aid its financial performance in the upcoming period.
However, mounting expenses, supply-chain constraints and sluggish industrial & IoT and mobile markets are concerns.
For third-quarter 2023, NXP Semiconductors expects revenues of $3.3-$3.5 billion, suggesting a decline of 1% year over year at the midpoint.
Zacks Rank and Stocks to Consider
Currently, the company carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 71.4% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Badger Meter shares have gained 44.7% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 15.05%.
Arista Networks shares have gained 50.6% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Dell Technologies shares have gained 71.4% in the year-to-date period.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Dell Technologies shares have gained 71.4% in the year-to-date period.
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4207cbae-0d05-4ed8-8a95-d61d0083ddbf
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725336.0
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2023-09-21 00:00:00 UTC
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Trimble (TRMB) Boosts Transportation Segment With New Solution
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DELL
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https://www.nasdaq.com/articles/trimble-trmb-boosts-transportation-segment-with-new-solution
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nan
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nan
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Trimble TRMB launched Appian Daily Planner, a cloud-based solution for optimizing multi-stop and multi-vehicle routes.
The Appian Daily Planner streamlines complex routing for fleets, combining a configurable interface with a trusted Appian optimization algorithm, saving time, money and miles by transitioning from static to real-time planning.
Further, the route optimization tool provides fleet owners with enhanced capabilities like robust decision-making, lower fuel consumption and dynamic asset visibility, among others, improving their asset utilization, on-time deliveries and customer service.
The latest launch expands the portfolio of Appian’s suite of tools, which uses advanced algorithm and route optimization expertise to offer modern, user-friendly technology that provides comprehensive visibility into route plans, order status and fleet activity.
We note that the company strives to deliver enhanced fleet management experience for final and middle mile-focused fleets with its latest move.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Growth Prospects
The latest launch is in sync with the company’s efforts to strengthen its footprint in the global fleet management space.
Per a Fortune Business Insights report, the global fleet management software market is expected to hit $23.67 billion in 2023 and reach $79.82 billion by 2030, witnessing a CAGR of 19% between 2023 and 2030.
A Markets and Markets report suggests the global fleet management market size to reach $52.4 billion by 2027, witnessing a CAGR of 15.5% during the period of 2022-2027.
We believe that the company’s solid prospects in the promising fleet management market are expected to instill investor optimism in the stock.
Notably, TRMB has gained 3.4% in the year-to-date period, underperforming the industry’s rally of 13%.
However, macroeconomic headwinds and supply-chain constraints continue to remain concerns.
Transportation Segment in Focus
The latest move bodes well for the company’s growing efforts toward strengthening its Transportation offerings.
Apart from the latest launch, Trimble recently introduced industry-specific dwell time metrics for fleet management, by integrating Trimble Fleet Manager and its Connected Locations workflow, enabling fleets to make better planning decisions, improve SLA adherence, and utilize assets and drivers more efficiently.
Moreover, Trimble’s acquisition of Transporeon, a leading transportation management platform, remains noteworthy.
Further, Transporeon launched the Freight Marketplace platform, a neutral deal-making hub for freight procurement, aiming to address challenges in capacity alignment, fair pricing, transparency and negotiation efficiency to benefit both shippers and carriers.
Further, Transporeon has partnered with RailNetEurope to launch the EU Ukraine Visibility Map, the first European-wide tool to provide an end-to-end view of key rail corridors in and out of Ukraine.
The above-mentioned endeavors are expected to aid the performance of Trimble’s Transportation segment in the days ahead.
For second-quarter 2023, the Transportation segment generated revenues of $194.7 million, which rose 30% on a year-over-year basis.
Notably, revenues in the underlined segment contributed 19.6% of total revenues.
Our model estimates 2023 Transportation revenues of $739.9 million, indicating 22.5% year-over-year growth.
Strength in the underlined segment will likely contribute to its overall financial performance in the near term.
For 2023, Trimble expects total revenues in the band of $3.845-$3.925 billion.
Zacks Rank and Stocks to Consider
Currently, Trimble carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 71.4% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Badger Meter shares have gained 44.7% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 15.05%.
Arista Networks shares have gained 50.6% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Trimble Inc. (TRMB) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Dell Technologies shares have gained 71.4% in the year-to-date period.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Trimble Inc. (TRMB) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Click to get this free report Badger Meter, Inc. (BMI) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Trimble Inc. (TRMB) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each.
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Some better-ranked stocks in the broader technology sector are Dell Technologies DELL, Badger Meter BMI and Arista Networks ANET. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Badger Meter and Arista Networks carry a Zacks Rank #2 (Buy) each. Dell Technologies shares have gained 71.4% in the year-to-date period.
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2ec38a43-652a-4613-98ec-8d4b2b718957
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725337.0
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2023-09-21 00:00:00 UTC
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Grab These 5 Flourishing Giants to Strengthen Your Portfolio
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DELL
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https://www.nasdaq.com/articles/grab-these-5-flourishing-giants-to-strengthen-your-portfolio
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nan
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nan
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Wall Street has seen a bull run in 2023 after a highly disappointing 2022. Year to date, all three major stock indexes are in positive territory. In fact, the S&P 500 and the Nasdaq Composite have witnessed an impressive rally.
However, in the past one and a half months, volatility has returned to U.S. stock markets. The Dow, the S&P 500 and the Nasdaq Composite have exhibited negative returns during this period. Despite facing volatility, the long-term trend of U.S. stock markets remains bullish.
Meanwhile, stock prices of a handful of U.S. corporate bigwigs have flourished in the past month. The primary reason for the stock prices of these companies to thrive is their strong earnings results in the last reported quarter and solid guidance. Investment in these stocks with a favorable Zacks Rank should be fruitful for market participants.
Our Top Picks
We have narrowed our search to five large-cap (market capital > $10 billion) stocks that have provided solid returns in the past month. These stocks have strong long-term potential and have seen positive earnings estimate revisions in the last 60 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past month.
Image Source: Zacks Investment Research
Splunk Inc. SPLK is witnessing significant customer additions and multiple project wins in the public and private sectors driven by its enterprise scale and unified product portfolio. SPLK teamed up with Microsoft to enable customers to migrate, modernize and enhance their business environment with comprehensive cloud and hybrid visibility on a large scale.
Splunk is committed to enhancing its core platform and premium products with advanced AI capabilities. SPLK AI encompasses a range of AI-powered solutions that seamlessly blend automation with human input.
Zacks Rank #1 Splunk has an expected revenue and earnings growth rate of 29.9% and 39.8%, respectively, for the current year (ending January 2024). The Zacks Consensus Estimate for current-year earnings has improved 31.9% over the last 30 days. The stock price of SPLK has jumped 21.3% in the past month.
Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for next year. The Zacks Consensus Estimate for next-year earnings has improved 11.6% over the last 30 days. The stock price of DELL has soared 22.6% in the past month.
Tesla Inc. TSLA witnessed record production, deliveries and revenues in the last reported quarter. We expect deliveries to see an annualized growth of around 36% in 2023. Production ramp-up at Gigafactory 4 and 5 and the introduction of new models, including Semi and Cybertruck, are set to support long-term delivery growth of TSLA.
We anticipate automotive revenues to rise more than 18% this year. Additionally, Tesla’s energy generation and storage revenue outlook is promising. Falling debt levels and the solid potential of TSLA’s charging business are other positives.
Zacks Rank #2 Tesla has an expected revenue and earnings growth rate of 25.6% and 34.3%, respectively, for next year. The Zacks Consensus Estimate for next-year earnings has improved 0.9% over the last 60 days. The stock price of TSLA has climbed 13.6% in the past month.
Apollo Global Management Inc. APO is a private equity firm specializing in investments in credit, private equity and real estate markets. APO provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors.
APO’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
Zacks Rank#2 Apollo Global Management has an expected revenue and earnings growth rate of 22.5% and 28.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 60.5% over the last 60 days. The stock price of APO has surged 12.9% in the past month.
Vistra Corp. VST operates as an integrated retail electricity and power generation company. VST operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. VST is involved in electricity generation, wholesale energy purchases and sales, commodity risk management, fuel production, and fuel logistics management activities. VST retails electricity and natural gas to residential, commercial, and industrial customers across 20 states in the United States and the District of Columbia.
Zacks Rank #2 Vistra has an expected revenue and earnings growth rate of 46.2% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last 30 days. The stock price of VST has advanced 7.8% in the past month.
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
Apollo Global Management Inc. (APO) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
Vistra Corp. (VST) : 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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Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group. Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for next year.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Vistra Corp. (VST) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
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Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for next year. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Vistra Corp. (VST) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group. Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for next year.
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90faebad-078a-43c9-87d4-b854883e883e
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725338.0
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2023-09-20 00:00:00 UTC
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DoorDash (DASH) Expands Grocery & Alcohol Delivery With ALDI
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DELL
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https://www.nasdaq.com/articles/doordash-dash-expands-grocery-alcohol-delivery-with-aldi
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nan
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nan
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DoorDash DASH is making bold strides in online grocery shopping, forming new partnerships. It recently expanded collaboration with ALDI, enabling alcohol delivery from an impressive 1,200 locations.
The expansion provides nearly 80% of DoorDash customers with age-verified access to alcohol delivery. DoorDash is also introducing a diverse array of new grocery partners, further enriching its online retail offerings for consumers.
DoorDash 's decision to offer alcohol can boost grocery sales by up to 30%, and by including alcohol in convenience orders, sales go up by an impressive 50%. They have also extended their partnership with ALDI, so now customers can easily order alcoholic drinks with their regular groceries, all while keeping strict safety measures in mind.
DoorDash expanded its partner base with the Eataly, El Super and Fiesta Mart, expanding the reach of on-demand grocery delivery across various regions. These additions, accessible through DashPass, DoorDash's membership program, enhance convenience with nil delivery fees for eligible orders over $35 and complement the recent app redesign, featuring a dedicated grocery tab.
Expanding Partner Base Aids Growth
DoorDash’s shares have returned 62.2% compared with the Zacks Computer and Technology sector’s increase of 37.3% year to date. The outperformance can be attributed to the company’s expansion of its global footprint and strong partner base.
DoorDash, Inc. Price and Consensus
DoorDash, Inc. price-consensus-chart | DoorDash, Inc. Quote
In August, DoorDash Canada and Staples Canada joined forces for a nationwide partnership, providing consumers with on-demand access to a vast selection of back-to-school and workplace essentials.
For the third quarter of 2023, DoorDash estimates revenues between $15.8 billion and $16.2 billion.
Looking ahead to fiscal 2023, the company has set revenue expectations between $64.2 billion and $65.2 billion. The Zacks Consensus Estimate is pegged at $2.09 billion, suggesting a rise of 22.83% year over year.
Zacks Rank & Stocks to Consider
Currently, DoorDash has a Zacks Rank #3 (Hold).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 73.8%, 197.8% and 38.5%, respectively, year to date.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
DoorDash, Inc. (DASH) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 73.8%, 197.8% and 38.5%, respectively, year to date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 73.8%, 197.8% and 38.5%, respectively, year to date.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 73.8%, 197.8% and 38.5%, respectively, year to date.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 73.8%, 197.8% and 38.5%, respectively, year to date. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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4588daaa-2745-4ae7-af18-86995cd7ef8e
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725339.0
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2023-09-20 00:00:00 UTC
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Stocks Climb Before the Open as Fed Rate Decision Looms
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DELL
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https://www.nasdaq.com/articles/stocks-climb-before-the-open-as-fed-rate-decision-looms
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nan
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nan
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December S&P 500 futures (ESZ23) are up +0.28%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.32% this morning as market participants braced for the Federal Reserve’s interest rate decision due later in the day.
In Tuesday’s trading session, Wall Street’s major averages ended lower. Walt Disney Company (DIS) slid over -3% on plans to nearly double its capital expenditure for the parks business to $60 billion over the next 10 years. Also, Starbucks Corporation (SBUX) fell more than -1% after TD Cowen downgraded the stock to Market Perform from Outperform. In addition, Rocket Lab USA, Inc. (RKLB) plunged over -7% after the space launch company experienced an issue during its 41st mission launch and subsequently postponed the next mission. On the bullish side, Dell Technologies Inc (DELL) rose more than +1% after Daiwa upgraded the stock to Outperform from Neutral.
Economic data on Tuesday showed that U.S. August Housing Starts dropped to the lowest level since June 2020, standing at 1.283M, compared to a consensus of 1.440M. At the same time, U.S. Building Permits unexpectedly rose to 1.543M in August, stronger than expectations of 1.440M.
Today, all eyes are focused on the U.S. Federal Reserve’s monetary policy decision later in the day. U.S. rate futures have priced in a 99.0% chance for the Fed to keep its federal funds rate range unchanged at 5.25-5.50%. Also, investors will be paying close attention to the post-decision press conference by Fed Chair Jerome Powell and the release of the Fed’s Summary of Economic Projections, particularly focusing on the quarterly dot plot.
“Markets will focus on the Fed’s language, especially what they think. We all have an opinion on what the economy is doing, but apparently what the Fed thinks about it is the most important thing, if they see signs of softening or strengthening in the economy and that will inform us what will happen in November,” said Kim Forrest, chief investment officer at Bokeh Capital Partners.
On the economic front, investors will likely focus on U.S. Crude Oil Inventories data. Economists estimate this figure to be -2.200M, compared to last week’s value of +3.954M.
In other news, Bank of America strategists increased the S&P 500 year-end price target by 7% to 4600, citing factors like increased productivity, efficiency, and reduced labor intensity as drivers of solid economic growth.
In the bond markets, United States 10-year rates are at 4.350%, down -0.39%.
The Euro Stoxx 50 futures are up +0.70% this morning as investors digested U.K. inflation data while awaiting the U.S. Federal Reserve’s interest rate decision. Gains in real estate and healthcare stocks are leading the overall market higher. Data from the Office for National Statistics showed on Wednesday that Britain’s inflation rate unexpectedly fell to the lowest level in 18 months due to a decline in food prices. Meanwhile, the likelihood of a quarter-point rate hike by the Bank of England on Thursday has declined, with the market now attributing a probability of less than 60%, down from the previous 90%. In corporate news, M&G Plc (MNG.LN) rose over +2% after the insurer reported a stronger-than-expected 31% rise in its first-half operating profit.
U.K.’s CPI, U.K.’s Core CPI, and Germany’s PPI data were released today.
U.K. August CPI stood at +0.3% m/m and +6.7% y/y, weaker than expectations of +0.7% m/m and +7.0% y/y.
U.K. August Core CPI arrived at +0.1% m/m and +6.2% y/y, weaker than expectations of +0.6% m/m and +6.8% y/y.
The German August PPI came in at +0.3% m/m and -12.6% y/y, compared to expectations of +0.2% m/m and -12.6% y/y.
Asian stock markets today closed in the red. China’s Shanghai Composite Index (SHCOMP) closed down -0.52%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.66%.
China’s Shanghai Composite closed lower today as worries persisted regarding the world’s second-largest economy, despite the positive data from last week, while foreign investor selling also weighed on sentiment. China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, as expected, following a series of upbeat August data indicating signs of stabilization in the world’s second-largest economy. Nonetheless, Cong Liang, Vice Chairman of the National Development and Reform Commission, expressed that China’s economy is still encountering numerous difficulties and challenges. Meanwhile, tourism, semiconductor, and automobile stocks underperformed on Wednesday. Tech giants listed in Hong Kong also lost ground. In other news, foreign investors sold a net 3.5 billion yuan worth of Chinese stocks through the Stock Connect program Wednesday.
“With Asia, GEM (Global Emerging Markets), and global funds already underweight China, especially GEM funds, we believe much of the pessimism has been priced in. The good news is the market is now cheap. We also see positives from the widespread improvement in August macro data,” HSBC said in a note.
Japan’s Nikkei 225 Stock Index closed lower today as investors adopted a cautious stance in anticipation of important central bank decisions, including those from the U.S. Federal Reserve and the Bank of Japan. Resource stocks lost ground on Wednesday after crude oil prices retreated from 10-month highs, while shippers and other stocks with higher dividends continued to outperform. Ministry of Finance data showed on Wednesday that Japan’s exports declined for the second consecutive month in August due to weakened demand for mineral fuels and semiconductor manufacturing equipment. Meanwhile, the yen steadied following comments from U.S. Treasury Secretary Janet Yellen, who stated that any currency intervention by Japan to smooth out volatility would be understandable. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +2.01% to 17.26.
The Japanese August Trade Balance has been reported at -930.5B, weaker than expectations of -659.1B.
The Japanese August Exports stood at -0.8% y/y, stronger than expectations of -1.7% y/y.
The Japanese August Imports came in at -17.8% y/y, stronger than expectations of -19.4% y/y.
Pre-Market U.S. Stock Movers
Chewy Inc (CHWY) fell over -2% in pre-market trading after Oppenheimer downgraded the stock to Perform from Outperform.
Steelcase Inc (SCS) climbed more than +6% in pre-market trading after the company reported better-than-expected Q2 results and provided upbeat FY24 EPS guidance.
Nano Dimension Ltd (NNDM) rose over +3% in pre-market trading after the company announced that it had received approval from the Israeli court to continue with its previously announced share repurchase plan.
Dollar General Corporation (DG) dropped more than -2% in pre-market trading after JPMorgan downgraded the stock to Underweight from Neutral.
Hudson Pacific Properties Inc (HPP) gained over +2% in pre-market trading after BMO Capital upgraded the stock to Outperform from Market Perform.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Wednesday - September 20th
FedEx (FDX), General Mills (GIS), KB Home (KBH), Lifezone Metals (LZM), Genfit (GNFT).
More Stock Market News from Barchart
Stocks Fall Ahead of FOMC Meeting Results on Wednesday
3 Ways to Profit From a New Bull Market for Uranium
3 AI Stocks to Avoid at Current Prices
Disney’s Good News/Bad News Story Makes Options Worth Exploring
On the date of publication, Oleksandr Pylypenko 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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On the bullish side, Dell Technologies Inc (DELL) rose more than +1% after Daiwa upgraded the stock to Outperform from Neutral. China’s Shanghai Composite closed lower today as worries persisted regarding the world’s second-largest economy, despite the positive data from last week, while foreign investor selling also weighed on sentiment. Ministry of Finance data showed on Wednesday that Japan’s exports declined for the second consecutive month in August due to weakened demand for mineral fuels and semiconductor manufacturing equipment.
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On the bullish side, Dell Technologies Inc (DELL) rose more than +1% after Daiwa upgraded the stock to Outperform from Neutral. Data from the Office for National Statistics showed on Wednesday that Britain’s inflation rate unexpectedly fell to the lowest level in 18 months due to a decline in food prices. China’s Shanghai Composite Index (SHCOMP) closed down -0.52%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.66%.
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On the bullish side, Dell Technologies Inc (DELL) rose more than +1% after Daiwa upgraded the stock to Outperform from Neutral. Japan’s Nikkei 225 Stock Index closed lower today as investors adopted a cautious stance in anticipation of important central bank decisions, including those from the U.S. Federal Reserve and the Bank of Japan. Pre-Market U.S. Stock Movers Chewy Inc (CHWY) fell over -2% in pre-market trading after Oppenheimer downgraded the stock to Perform from Outperform.
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On the bullish side, Dell Technologies Inc (DELL) rose more than +1% after Daiwa upgraded the stock to Outperform from Neutral. U.S. rate futures have priced in a 99.0% chance for the Fed to keep its federal funds rate range unchanged at 5.25-5.50%. The German August PPI came in at +0.3% m/m and -12.6% y/y, compared to expectations of +0.2% m/m and -12.6% y/y.
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c1858375-91be-45c9-88e7-724a26b05176
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725340.0
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2023-09-20 00:00:00 UTC
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Stocks Tread Water Before the Open as Fed Rate Decision Looms
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DELL
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https://www.nasdaq.com/articles/stocks-tread-water-before-the-open-as-fed-rate-decision-looms
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nan
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nan
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December S&P 500 futures (ESZ23) are up +0.12%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.16% this morning as market participants braced for the Federal Reserve’s interest rate decision due later in the day.
In Tuesday’s trading session, Wall Street’s major averages ended lower. Walt Disney Company (DIS) slid over -3% on plans to nearly double its capital expenditure for the park
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December S&P 500 futures (ESZ23) are up +0.12%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.16% this morning as market participants braced for the Federal Reserve’s interest rate decision due later in the day. In Tuesday’s trading session, Wall Street’s major averages ended lower. Walt Disney Company (DIS) slid over -3% on plans to nearly double its capital expenditure for the park
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December S&P 500 futures (ESZ23) are up +0.12%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.16% this morning as market participants braced for the Federal Reserve’s interest rate decision due later in the day. In Tuesday’s trading session, Wall Street’s major averages ended lower. Walt Disney Company (DIS) slid over -3% on plans to nearly double its capital expenditure for the park
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December S&P 500 futures (ESZ23) are up +0.12%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.16% this morning as market participants braced for the Federal Reserve’s interest rate decision due later in the day. In Tuesday’s trading session, Wall Street’s major averages ended lower. Walt Disney Company (DIS) slid over -3% on plans to nearly double its capital expenditure for the park
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December S&P 500 futures (ESZ23) are up +0.12%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.16% this morning as market participants braced for the Federal Reserve’s interest rate decision due later in the day. In Tuesday’s trading session, Wall Street’s major averages ended lower. Walt Disney Company (DIS) slid over -3% on plans to nearly double its capital expenditure for the park
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9504f4e1-abfc-43bd-bac4-9a6e983b4871
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725341.0
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2023-09-19 00:00:00 UTC
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Column: Get ready for a brawl over leadership of the case against Fox’s board
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DELL
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https://www.nasdaq.com/articles/column%3A-get-ready-for-a-brawl-over-leadership-of-the-case-against-foxs-board
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nan
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nan
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By Alison Frankel
Sept 19 (Reuters) - I don’t envy Delaware Chancery Court judge Travis Laster the task he’s soon to face: picking shareholder lawyers to lead the case accusing Fox Corp officers and directors of breaching their duties by allowing the company to become mired in defamation claims.
Two competing complaints against Fox FOXA.O directors, including controlling shareholders Rupert and Lachlan Murdoch were unsealed last Friday in Chancery Court. One was brought by pension funds for public employees of Oregon and New York City. The other is on behalf of eight public pension and union welfare funds.
Both complaints are long – the multifund complaint is 172 pages; the New York and Oregon filing is a relatively svelte 120 pages. They’re also notably detailed, featuring not just evidence from the Dominion Voting Systems election fraud defamation lawsuit that Fox settled in April for $787.5 billion but also information the funds obtained directly from Fox under a Delaware law that permits shareholders to access corporate books and records.
Both sets of shareholders are represented by eminent plaintiffs' lawyers. New York and Oregon have Friedlander & Gorris; Lieff Cabraser Heimann & Bernstein; and Cohen Milstein Sellers & Toll. The other funds have lawyers from five shareholder firms, including Bernstein Litowitz Berger & Grossmann; Robbins Geller Rudman & Dowd; and Labaton Sucharow.
And to add to the fun, two previously filed breach-of-duty suits against Fox directors have also been consolidated before Laster, including a 209-page complaint filed by a group of plaintiffs' firms led by Prickett, Jones & Elliott.
Laster has ordered everyone who wants to be appointed to lead the case to file briefs explaining why by Sept. 21. Prickett Jones’ Samuel Closic confirmed by email that his group intends to apply. None of the shareholder lawyers in the two newly unsealed pension fund complaints was willing to speak on the record, but I will be shocked if those groups don’t also apply. It’s likely, in other words, that Laster will have to pick from at least three competing bids to run the breach-of-duty case. The judge has scheduled a Nov. 9 hearing on the leadership contest.
A spokesperson for Fox, I should note, declined to comment on the Delaware breach-of-duty lawsuits. Fox, which is continuing to defend against election fraud defamation claims in New York state court by voting technology company Smartmatic USA, said when it settled with Dominion that the agreement “reflects Fox’s continued commitment to the highest journalism standards."
Judges overseeing Chancery Court derivative suits, in which a shareholder sues board members for allegedly harming the corporation, do not have to adhere to the strict framework for lead plaintiff appointments in securities class actions in federal court. In those class actions, judges look first at which applicant has suffered the biggest loss as a result of the alleged fraud. The biggest loser is usually appointed to lead, unless a competing candidate raises serious concerns about its fitness to head up the case.
In Delaware derivative suits, courts also look at the size of a prospective lead plaintiff’s stake in the company. But judges consider intangible factors as well, including the quality of an applicant’s pleading; the vigor of candidates’ pre-suit investigation; and the reputation of their lawyers. Chancery Court judges, in other words, have more leeway.
I don’t think Laster will find a whole lot of difference among the Fox candidates on the ability of their lawyers to prosecute the case. All of these firms have excellent track records. The Friedlander and Lieff firms, which represent the New York and Oregon funds, obtained a landmark $237.5 million settlement in 2021 in breach-of-duty claims against Boeing BA.N directors for allegedly failing to assure the safety of 737 MAX aircraft. (They won a lead role in that case, incidentally, after a hot lead-plaintiff contest.)
Labaton and Robbins Geller, two of the firms that signed the multifund complaint, were part of a plaintiffs’ consortium that was just awarded a whopping $267 million fee after winning a $1 billion settlement in a breach-of-duty case against Dell DELL.N directors. (The judge who awarded the fee? Laster.) Prickett Jones, meanwhile, was co-counsel in the 2013 case that resulted in the biggest-ever Chancery Court fee award.
All of the lead plaintiff candidates obtained books and records from Fox, and all painstakingly documented in their voluminous complaints the alleged oversight failures of officers and directors who stand accused of disregarding red flag warnings — including defamation claims that predated the 2020 election — and neglecting to adopt control and information systems to assure the quality of Fox’s journalism, a mission-critical duty. All of the complaints assert that shareholders could not rely on board members to bring their own breach-of-duty case since those very board members are at risk of being held liable for failing to protect Fox’s interests.
There are variations among the complaints, of course. The multifund filing, for instance, focused on the Fox board’s alleged abandonment of a compliance system that was put in place as part of the 2013 settlement of a shareholder derivative suit against a Fox corporate predecessor. (Perhaps not coincidentally, Bernstein Litowitz was one the firms in that case.)
The New York and Oregon complaint, meanwhile, asserts a theory of liability that I didn’t see in the other complaints, alleging that Fox’s entire business model “treats potential tort claims and settlements as unlikely or as a cost of doing business.” The complaint cited a 2011 decision in a shareholder derivative case against Massey Energy, in which then-vice chancellor Leo Strine cautioned that board members cannot be considered loyal to their corporation if they knowingly lead the company “to seek profit by violating the law.”
If Laster’s decision comes down to which plaintiffs have the biggest stake in the company, the New York and Oregon funds may have the edge: Between them, according to their complaint, those funds hold more than 720,000 Fox shares, worth about $33 million as of Aug. 31.
The other complaints do not specify the holdings of the prospective lead plaintiffs – an omission that may prove telling.
Stay tuned, as they say in the TV biz.
Read more:
Fox shareholders are circling Rupert Murdoch
Fox settles Dominion lawsuit for $787.5 million over US election lies
(Reporting By Alison Frankel; editing by Leigh Jones)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Labaton and Robbins Geller, two of the firms that signed the multifund complaint, were part of a plaintiffs’ consortium that was just awarded a whopping $267 million fee after winning a $1 billion settlement in a breach-of-duty case against Dell DELL.N directors. By Alison Frankel Sept 19 (Reuters) - I don’t envy Delaware Chancery Court judge Travis Laster the task he’s soon to face: picking shareholder lawyers to lead the case accusing Fox Corp officers and directors of breaching their duties by allowing the company to become mired in defamation claims. The Friedlander and Lieff firms, which represent the New York and Oregon funds, obtained a landmark $237.5 million settlement in 2021 in breach-of-duty claims against Boeing BA.N directors for allegedly failing to assure the safety of 737 MAX aircraft.
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Labaton and Robbins Geller, two of the firms that signed the multifund complaint, were part of a plaintiffs’ consortium that was just awarded a whopping $267 million fee after winning a $1 billion settlement in a breach-of-duty case against Dell DELL.N directors. They’re also notably detailed, featuring not just evidence from the Dominion Voting Systems election fraud defamation lawsuit that Fox settled in April for $787.5 billion but also information the funds obtained directly from Fox under a Delaware law that permits shareholders to access corporate books and records. The Friedlander and Lieff firms, which represent the New York and Oregon funds, obtained a landmark $237.5 million settlement in 2021 in breach-of-duty claims against Boeing BA.N directors for allegedly failing to assure the safety of 737 MAX aircraft.
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Labaton and Robbins Geller, two of the firms that signed the multifund complaint, were part of a plaintiffs’ consortium that was just awarded a whopping $267 million fee after winning a $1 billion settlement in a breach-of-duty case against Dell DELL.N directors. By Alison Frankel Sept 19 (Reuters) - I don’t envy Delaware Chancery Court judge Travis Laster the task he’s soon to face: picking shareholder lawyers to lead the case accusing Fox Corp officers and directors of breaching their duties by allowing the company to become mired in defamation claims. All of the lead plaintiff candidates obtained books and records from Fox, and all painstakingly documented in their voluminous complaints the alleged oversight failures of officers and directors who stand accused of disregarding red flag warnings — including defamation claims that predated the 2020 election — and neglecting to adopt control and information systems to assure the quality of Fox’s journalism, a mission-critical duty.
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Labaton and Robbins Geller, two of the firms that signed the multifund complaint, were part of a plaintiffs’ consortium that was just awarded a whopping $267 million fee after winning a $1 billion settlement in a breach-of-duty case against Dell DELL.N directors. None of the shareholder lawyers in the two newly unsealed pension fund complaints was willing to speak on the record, but I will be shocked if those groups don’t also apply. The Friedlander and Lieff firms, which represent the New York and Oregon funds, obtained a landmark $237.5 million settlement in 2021 in breach-of-duty claims against Boeing BA.N directors for allegedly failing to assure the safety of 737 MAX aircraft.
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7bab5dce-cec7-48fe-aa9b-b94eb0d8e041
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725342.0
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2023-09-19 00:00:00 UTC
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Daiwa Capital Upgrades Dell Technologies Inc - Class C (DELL)
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DELL
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https://www.nasdaq.com/articles/daiwa-capital-upgrades-dell-technologies-inc-class-c-dell
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nan
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nan
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Fintel reports that on September 19, 2023, Daiwa Capital upgraded their outlook for Dell Technologies Inc - Class C (NYSE:DELL) from Neutral to Outperform .
Analyst Price Forecast Suggests 15.08% Downside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents a decrease of 15.08% from its latest reported closing price of 69.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
What is the Fund Sentiment?
There are 1119 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 5 owner(s) or 0.45% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 16.79%. Total shares owned by institutions increased in the last three months by 2.08% to 218,490K shares.
The put/call ratio of DELL is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.05% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 19, 2023, Daiwa Capital upgraded their outlook for Dell Technologies Inc - Class C (NYSE:DELL) from Neutral to Outperform . Analyst Price Forecast Suggests 15.08% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 19, 2023, Daiwa Capital upgraded their outlook for Dell Technologies Inc - Class C (NYSE:DELL) from Neutral to Outperform . Analyst Price Forecast Suggests 15.08% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Fintel reports that on September 19, 2023, Daiwa Capital upgraded their outlook for Dell Technologies Inc - Class C (NYSE:DELL) from Neutral to Outperform . Analyst Price Forecast Suggests 15.08% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Analyst Price Forecast Suggests 15.08% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. There are 1119 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 5 owner(s) or 0.45% in the last quarter. Fintel reports that on September 19, 2023, Daiwa Capital upgraded their outlook for Dell Technologies Inc - Class C (NYSE:DELL) from Neutral to Outperform .
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b29f624f-065d-4d46-a2e0-bdd815fe7a69
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725343.0
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2023-09-19 00:00:00 UTC
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S&P Futures Plunge Ahead of FOMC Meeting, Oil’s Climb Raises Inflation Concerns
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DELL
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https://www.nasdaq.com/articles/sp-futures-plunge-ahead-of-fomc-meeting-oils-climb-raises-inflation-concerns
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nan
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nan
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December S&P 500 futures (ESZ23) are trending down -0.51% this morning as market participants geared up for a big week for central banks, with the spotlight on the Federal Reserve’s interest rate decision on Wednesday.
In Monday’s trading session, Wall Street’s major averages closed just above the flatline. Apple Inc (AAPL) rose over +1% on optimism regarding robust pre-orders for the company’s latest iPhone 15. Also, Alteryx Inc (AYX) climbed more than +4% after Morgan Stanley upgraded the stock to Overweight from Equal Weight. On the bearish side, Tesla Inc (TSLA) fell over -3% and was among the top percentage losers on the tech-heavy Nasdaq 100 after Goldman Sachs slightly lowered its 2023 and 2024 earnings estimates for the electric vehicle giant. In addition, Arm Holdings (ARM) plunged more than -4% after Bernstein initiated coverage of the stock with an Underperform rating.
The Federal Reserve kicks off its two-day meeting later in the day, with investors widely expecting the U.S. central bank to keep rates on hold Wednesday. Also, investors’ focus will be on Fed Chair Jerome Powell’s post-decision press conference and the Fed’s quarterly dot plot in its Summary of Economic Projections.
“Ongoing questions about Fed policy - how high and for how long? - almost ensure near-term stock activity will remain choppy, although longer-term investors who take their cue from earnings should have an opportunity to benefit,” said Robert Teeter, managing director of Silvercrest Asset Management.
Meanwhile, oil soared to a 10-month high, continuing a robust rally that could reignite inflation, as OPEC+ supply cuts tightened the market, and Saudi Arabia’s energy minister showed no inclination to alter the current course.
Today, all eyes are focused on the U.S. Building Permits preliminary data in a couple of hours. Economists, on average, forecast that August Building Permits will stand at 1.440M, compared to the previous value of 1.443M.
Also, investors are likely to focus on U.S. Housing Starts data, which was at 1.452M in July. Economists foresee the August figure to be 1.440M.
In the bond markets, United States 10-year rates are at 4.325%, up +0.16%.
The Euro Stoxx 50 futures are up +0.26% this morning as investors exercised caution and refrained from making big bets ahead of interest rate decisions by major central banks this week. Automobile and energy stocks gained ground on Tuesday, while industrial and tech stocks underperformed. Eurostat said on Tuesday that consumer inflation in the Eurozone for August was slightly below the initial estimate, although it still remained more than twice the European Central Bank’s target. Meanwhile, the Bank of England is set to meet on Thursday, and it is expected to implement its 15th consecutive interest rate hike, bringing benchmark borrowing costs to 5.5%. Also, European Central Bank Governing Council member Francois Villeroy de Galhau stated that the ECB would keep interest rates at 4% for as long as necessary to tame inflation, indicating that he is not inclined toward future rate hikes at this stage. In corporate news, Kingfisher Plc (KGF.LN) plunged over -6% after the European home improvement retailer slashed its annual profit guidance.
Eurozone’s CPI, Eurozone’s Core CPI, and Eurozone’s Current Account data were released today.
Eurozone August CPI has been reported at +0.5% m/m and +5.2% y/y, weaker than expectations of +0.6% m/m and +5.3% y/y.
Eurozone August Core CPI stood at +0.3% m/m and +5.3% y/y, in line with expectations.
Eurozone July Current Account came in at 20.9B, weaker than expectations of 30.2B.
Asian stock markets today settled in the red. China’s Shanghai Composite Index (SHCOMP) closed down -0.03%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.87%.
China’s Shanghai Composite today closed slightly lower as some investors maintained their cautious stance regarding the world’s second-largest economy despite recent data indicating some signs of stabilization. China’s central bank and forex regulator convened a meeting with foreign financial institutions and companies on Monday, including JPMorgan and HSBC, as part of Beijing’s efforts to attract overseas investment and support its economic recovery. People’s Bank of China Governor Pan Gongsheng said China would improve its policies and create a market-oriented and international-level business climate. Meanwhile, tourism, new energy, and computer stocks underperformed on Monday. On the positive side, Country Garden received bondholder approval on the last of a batch of eight local notes for which it had requested repayment extensions, while Sunac China Holdings gained approval from creditors for its debt restructuring plan.
“August activity data released last week showed some marginal improvement... However, we see very limited signs that the economy has truly bottomed out. All eyes are on the property sector after so many easing measures were rolled out in the past month,” said Ting Lu, chief China economist at Nomura.
Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan. Chip-making equipment maker Tokyo Electron plunged over -5% and was the top percentage loser on the Nikkei. Also, chip-testing equipment maker Advantest slid about -4%, while chip maker Renesas Electronics fell more than -4%. Meanwhile, the Bank of Japan will announce its policy decision on Friday following a two-day policy meeting. Investors are anticipating remarks from BOJ Governor Kazuo Ueda, who stated in an interview earlier this month that the central bank might gather sufficient data by year-end to assess whether conditions were suitable for raising short-term interest rates. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +5.82% to 16.92.
“Investors were cautious ahead of big events - the central meetings in the U.S. and Japan,” said Takamasa Ikeda, a senior portfolio manager at GCI Asset Management.
Pre-Market U.S. Stock Movers
Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral.
Avinger Inc (AVGR) soared over +11% in pre-market trading after the pharma device manufacturer entered into an agreement as a sales agent to offer shares initially up to an aggregate offering price of $7M at-the-market public offering.
Kinnate Biopharma Inc (KNTE) plunged more than -8% in pre-market trading following the company’s announcement of a 70% reduction in its workforce as part of a realignment of its drug development initiatives. Also, Piper Sandler downgraded the stock to Neutral from Overweight.
Globus Medical (GMED) gained over +1% in pre-market trading after Stifel upgraded the stock to Buy from Hold.
Planet Fitness Inc (PLNT) dropped more than -4% in pre-market trading after JPMorgan downgraded the stock to Neutral from Overweight.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Tuesday - September 19th
AutoZone (AZO), Endava (DAVA), Apogee (APOG), Steelcase (SCS).
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On the date of publication, Oleksandr Pylypenko 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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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Meanwhile, oil soared to a 10-month high, continuing a robust rally that could reignite inflation, as OPEC+ supply cuts tightened the market, and Saudi Arabia’s energy minister showed no inclination to alter the current course. China’s central bank and forex regulator convened a meeting with foreign financial institutions and companies on Monday, including JPMorgan and HSBC, as part of Beijing’s efforts to attract overseas investment and support its economic recovery.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. The Euro Stoxx 50 futures are up +0.26% this morning as investors exercised caution and refrained from making big bets ahead of interest rate decisions by major central banks this week. Pre-Market U.S. Stock Movers Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan. Pre-Market U.S. Stock Movers Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Also, European Central Bank Governing Council member Francois Villeroy de Galhau stated that the ECB would keep interest rates at 4% for as long as necessary to tame inflation, indicating that he is not inclined toward future rate hikes at this stage. Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan.
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d4ab6912-2170-4ce4-abd1-0b83b258285a
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725344.0
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2023-09-19 00:00:00 UTC
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Stocks Fall Ahead of FOMC Meeting Results on Wednesday
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DELL
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https://www.nasdaq.com/articles/stocks-fall-ahead-of-fomc-meeting-results-on-wednesday
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nan
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nan
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What you need to know…
The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.22%.
Stocks fell on Tuesday’s weak U.S. housing starts report and the +6.0 bp rise in the 10-year T-note yield to a 15-year high. There was also downward pressure from the possibilities of an expanding UAW strike and a U.S. government shutdown on September 30, as well as the restart of student loan payments on October 1. Oil prices rallied to a 10-1/2 month high Tuesday, which was negative for the inflation outlook and hawkish for Fed policy, although oil prices fell back later in the day.
Stocks also traded on a cautious note ahead of the 2-day FOMC meeting that ends Wednesday. The markets are fully expecting the FOMC to leave its funds rate target unchanged at 5.25/5.50%. However, the markets are expecting the FOMC to maintain its hawkish bias and keep in play the possibility of one more rate hike later this year.
Specifically, the markets are discounting a 29% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 15% chance for that 25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in 2024 in response to an expected slowdown in the U.S. economy.
The OECD Tuesday cut its global GDP forecast for 2024 to +2.7% from +3.0%, with the comment that “While high inflation continues to unwind, the world economy remains in a difficult place. We’re confronting the double challenges of inflation and low growth.”
U.S. Aug housing starts fell -11.3% to 1.283 million, much weaker than expectations for a decline of about -1%. However, Aug building permits rose +6.9% m/m to 1.542 million, stronger than expectations for a small decline.
The Eurozone final-Aug CPI was revised slightly lower to +0.5% m/m and +5.2% y/y from the preliminary report of +0.6% m/m and +5.3% y/y. The final-core CPI was left unrevised at +5.3% y/y.
Overseas stock markets fell Tuesday. The Euro Stoxx 50 fell -0.07%, China’s Shanghai Composite Index fell -0.03%, and Japan’s Nikkei 225 fell -0.87%.
Today’s stock movers…
The UAW Tuesday said that more autoworkers will go on strike at noon on Friday if there isn’t substantial progress on contract talks. GM (GM) rose +1.86%, Ford (F) rose +1.78%, and Stellantis NV (STLA) rose +2.11%.
Oil stocks saw support as WTI crude oil prices rallied to a new 10-1/2 month high but then fell back along with oil prices later in the day. Exxon (XOM) fell -0.26%, Chevron (CVX) fell -0.01%, and Conoco Phillips (COP) fell -1.06%.
Disney (DIS) fell -3.62% on the company’s announcement that it will nearly double its spending on theme parks to $60 billion over the next 10 years.
Deere (DE) fell -2.96% on a downgrade by Evercore ISI to inline from outperform.
Block (SQ) fell -2.83% after news that CEO Alyssa Henry is leaving and that Jack Dorsey will take over.
Starbucks (SBUX) fell -1.52% on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures.
Dell Technologies (DELL) rose +1.08% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook.
CVS Corp (CVS) rose +1.82% on an upgrade by Evercore ISI due to improving operational issues and an attractive valuation.
Rackspace Technology (RXT) soared by +36% on an upgrade by Raymond James to outperform from market-perform on an improved outlook for its turnaround plan.
Rocket Lab USA (RKLB) fell -7.54% after the company was forced to end its latest rocket launch mission and postponed an upcoming mission.
Royal Caribbean Cruises (RCL) rose +2.50%, and Carnival (CCL) rose by +0.33%, after upgrades by Truist Securities to Buy and Hold, respectively, due to strong trends and more attractive valuations.
Grocery-delivery business Maplebear Inc, doing business as Instacart (CART), rallied by +12% on its first day of trading to $45.31 from Monday’s IPO price of $30 per share. CART raised $660 million of cash at the IPO and had an IPO valuation of $9.9 billion.
Across the markets…
December 10-year T-notes (ZNZ23) Tuesday fell -12.5 ticks. The 10-year T-note yield rose +6.0 bp to 4.363% and posted a 15-year high. T-notes were under pressure Tuesday as a new 10-1/2 month high in oil prices put upward pressure on inflation expectations even though oil prices fell back later in the day. Also, the Fed may be forced to hold interest rates higher-for-longer if gasoline prices continue to rise and push the inflation statistics higher. The 10-year breakeven inflation expectations rate Tuesday rose +1.1 bp to 2.373%.
T-note prices found underlying support Tuesday from the weak U.S. housing starts report, which suggested that high mortgage rates and high home prices are curbing homebuilder plans to build new houses.
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Disney’s Good News/Bad News Story Makes Options Worth Exploring
On the date of publication, Rich Asplund 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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Dell Technologies (DELL) rose +1.08% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. The OECD Tuesday cut its global GDP forecast for 2024 to +2.7% from +3.0%, with the comment that “While high inflation continues to unwind, the world economy remains in a difficult place. Starbucks (SBUX) fell -1.52% on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures.
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Dell Technologies (DELL) rose +1.08% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Stocks fell on Tuesday’s weak U.S. housing starts report and the +6.0 bp rise in the 10-year T-note yield to a 15-year high. T-notes were under pressure Tuesday as a new 10-1/2 month high in oil prices put upward pressure on inflation expectations even though oil prices fell back later in the day.
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Dell Technologies (DELL) rose +1.08% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Oil prices rallied to a 10-1/2 month high Tuesday, which was negative for the inflation outlook and hawkish for Fed policy, although oil prices fell back later in the day. Oil stocks saw support as WTI crude oil prices rallied to a new 10-1/2 month high but then fell back along with oil prices later in the day.
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Dell Technologies (DELL) rose +1.08% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Specifically, the markets are discounting a 29% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 15% chance for that 25 bp rate hike at the following meeting that ends on December 13. Overseas stock markets fell Tuesday.
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63f219ad-96f6-488f-9d2c-28f55c4d9311
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725345.0
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2023-09-19 00:00:00 UTC
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SentinelOne (S), Mandiant Team Up to Strengthen Portfolio
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DELL
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https://www.nasdaq.com/articles/sentinelone-s-mandiant-team-up-to-strengthen-portfolio
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nan
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nan
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SentinelOne S and Mandiant recently unveiled an expanded strategic alliance to equip organizations of all sizes with cutting-edge threat intelligence capabilities.
The extended partnership will witness SentinelOne incorporate Mandiant's threat intelligence into the Singularity Platform. This will strengthen SentinelOne's existing threat intelligence suite and empower organizations to gain deeper insights into their threat environment. This will enable them to monitor emerging threats in almost real-time, proactively mitigate risks, and swiftly detect hostile actors within their network.
Expanding Portfolio & Partner Base Aids Growth
SentinelOne continues to strengthen its cybersecurity and data capabilities powered by artificial intelligence. The growing adoption of its Singularity Marketplace has been noteworthy in recent times.
Embracing the Singularity RemoteOps policy is pivotal in its evolution, fortifying Incident Response and refining Evidence Acquisition for improved capabilities. This novel solution empowers security teams to pinpoint pertinent insights and extract actionable intelligence effectively.
SentinelOne, Inc. Price and Consensus
SentinelOne, Inc. price-consensus-chart | SentinelOne, Inc. Quote
Singularity RemoteOps Forensics is integrated with the SentinelOne Singularity platform and is offered as an add-on to SentinelOne’s Endpoint and Cloud Workload Security solutions.
It recently announced the availability of the Singularity Platform on Google Cloud Marketplace, which is expected to attract more customers.
In second-quarter fiscal 2024, SentinelOne added more than 700 new customers and the total customer base now exceeds 11,000.
Singularity Cloud remained SentinelOne’s fastest-growing solution in the fiscal second quarter, followed by solid contributions from Singularity Data Lake, Vigilance MDR and Ranger.
SentinelOne is riding on an expanding partner base that includes the likes of ServiceNow and Amazon cloud arm, Amazon Web Services, which leverages the Singularity XDR platform to provide end-to-end threat detection and automated response.
Revenues in second-quarter fiscal 2024 rallied 46% year over year to $149.4 million due to an expanding customer base. SentinelOne expects third-quarter fiscal 2024 revenues to be $156 million, reflecting growth of 35% year over year.
The Zacks Consensus Estimate is currently pegged at $156.16 million, suggesting 35.42% year-over-year growth.
Zacks Rank & Stocks to Consider
Currently, SentinelOne has a Zacks Rank #3 (Hold).
The company’s shares have returned 13.6% year to date, underperforming the Zacks Computer and Technology sector’s growth of 36.9%.
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 71.9%, 200.8% and 38.6%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
SentinelOne, Inc. (S) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 71.9%, 200.8% and 38.6%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report SentinelOne, Inc. (S) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. DELL, NVDA and SPLK shares have returned 71.9%, 200.8% and 38.6%, respectively, on a year-to-date basis.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report SentinelOne, Inc. (S) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 71.9%, 200.8% and 38.6%, respectively, on a year-to-date basis.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). DELL, NVDA and SPLK shares have returned 71.9%, 200.8% and 38.6%, respectively, on a year-to-date basis. Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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903a5325-2eef-49a4-af4c-29913544a488
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725346.0
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2023-09-19 00:00:00 UTC
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Apple's (AAPL) Prospects Shine on iPhone 15 Pro Max Demand
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DELL
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https://www.nasdaq.com/articles/apples-aapl-prospects-shine-on-iphone-15-pro-max-demand
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nan
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nan
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Apple AAPL shares climbed 1.69% to close at $177.97 on Sep 18, following reports that the delivery times for the recently announced iPhone 15 Pro Max have now been extended to November in the United States, indicating strong demand.
Per a Bloomberg article, the promised delivery date for the iPhone 15 Pro Max model has now been delayed from Sep 22 to mid-November. Apple launched four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12.
Apple has launched the iPhone 15 and iPhone 15 Plus in five new colors, including pink, yellow, green, blue and black. iPhone 15 Pro and iPhone 15 Pro Max are available in four colors, black titanium, white titanium, blue titanium and natural titanium.
Shipment times for blue and black iPhone Pro Max models have now been delayed to as late as Oct 16, while white and natural devices are not expected before Nov 13. The extended shipment times reflect strong demand for the high-end model, which starts at $1,199.
Apple’s prospects are heavily dependent on the iPhone, which accounted for 48.5% of sales in third-quarter fiscal 2023. The company has witnessed sliding iPhone sales in the past nine-month period, with the figure declining 3.7% over the same year-ago period. Hence, strong demand for the high-end device bodes well for the company’s top-line growth.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
For fourth-quarter fiscal 2023, Apple expects iPhone and Services’ year-over-year performance to accelerate from the June quarter.
Apple is benefiting from increasing customer engagement in the services segment. It currently has more than one billion paid subscribers across its Services portfolio. The expanding content portfolio of Apple TV+ and Apple Arcade is helping drive subscriber growth.
However, revenues for both Mac and iPad are expected to decline double digits on a year-over-year basis in the fiscal fourth quarter due to difficult comparisons.
The Zacks Consensus Estimate for fourth-quarter fiscal 2023 revenues is pegged at $88.87 billion, indicating a 1.42% decline year over year. The consensus mark for earnings has increased by a couple of cents over the past 30 days to $1.39 per share.
Zacks Rank & Stocks to Consider
Apple currently has a Zacks Rank #3 (Hold).
Shares have outperformed the Zacks Computer & Technology sector year to date. Apple shares have returned 37% while the broader sector has risen 36.9%.
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NVDA, DELL and SPLK shares have returned 200.8%, 71.9% and 38.6% year to date, respectively.
The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively.
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
Apple Inc. (AAPL) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA, DELL and SPLK shares have returned 200.8%, 71.9% and 38.6% year to date, respectively. The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA, DELL and SPLK shares have returned 200.8%, 71.9% and 38.6% year to date, respectively.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA, DELL and SPLK shares have returned 200.8%, 71.9% and 38.6% year to date, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). NVDA, DELL and SPLK shares have returned 200.8%, 71.9% and 38.6% year to date, respectively. The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively.
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198f84c8-e4ac-4d44-8098-68d20f984fc6
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725347.0
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2023-09-19 00:00:00 UTC
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S&P Futures Tick Lower Ahead of FOMC Meeting, Oil’s Climb Raises Inflation Concerns
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DELL
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https://www.nasdaq.com/articles/sp-futures-tick-lower-ahead-of-fomc-meeting-oils-climb-raises-inflation-concerns
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nan
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nan
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December S&P 500 futures (ESZ23) are trending down -0.05% this morning as market participants geared up for a big week for central banks, with the spotlight on the Federal Reserve’s interest rate decision on Wednesday.
In Monday’s trading session, Wall Street’s major averages closed just above the flatline. Apple Inc (AAPL) rose over +1% on optimism regarding robust pre-orders for the company’s latest iPhone 15. Also, Alteryx Inc (AYX) climbed more than +4% after Morgan Stanley upgraded the stock to Overweight from Equal Weight. On the bearish side, Tesla Inc (TSLA) fell over -3% and was among the top percentage losers on the tech-heavy Nasdaq 100 after Goldman Sachs slightly lowered its 2023 and 2024 earnings estimates for the electric vehicle giant. In addition, Arm Holdings (ARM) plunged more than -4% after Bernstein initiated coverage of the stock with an Underperform rating.
The Federal Reserve kicks off its two-day meeting later in the day, with investors widely expecting the U.S. central bank to keep rates on hold Wednesday. Also, investors’ focus will be on Fed Chair Jerome Powell’s post-decision press conference and the Fed’s quarterly dot plot in its Summary of Economic Projections.
“Ongoing questions about Fed policy - how high and for how long? - almost ensure near-term stock activity will remain choppy, although longer-term investors who take their cue from earnings should have an opportunity to benefit,” said Robert Teeter, managing director of Silvercrest Asset Management.
Meanwhile, oil soared to a 10-month high, continuing a robust rally that could reignite inflation, as OPEC+ supply cuts tightened the market, and Saudi Arabia’s energy minister showed no inclination to alter the current course.
Today, all eyes are focused on the U.S. Building Permits preliminary data in a couple of hours. Economists, on average, forecast that August Building Permits will stand at 1.440M, compared to the previous value of 1.443M.
Also, investors are likely to focus on U.S. Housing Starts data, which was at 1.452M in July. Economists foresee the August figure to be 1.440M.
In the bond markets, United States 10-year rates are at 4.325%, up +0.16%.
The Euro Stoxx 50 futures are up +0.26% this morning as investors exercised caution and refrained from making big bets ahead of interest rate decisions by major central banks this week. Automobile and energy stocks gained ground on Tuesday, while industrial and tech stocks underperformed. Eurostat said on Tuesday that consumer inflation in the Eurozone for August was slightly below the initial estimate, although it still remained more than twice the European Central Bank’s target. Meanwhile, the Bank of England is set to meet on Thursday, and it is expected to implement its 15th consecutive interest rate hike, bringing benchmark borrowing costs to 5.5%. Also, European Central Bank Governing Council member Francois Villeroy de Galhau stated that the ECB would keep interest rates at 4% for as long as necessary to tame inflation, indicating that he is not inclined toward future rate hikes at this stage. In corporate news, Kingfisher Plc (KGF.LN) plunged over -6% after the European home improvement retailer slashed its annual profit guidance.
Eurozone’s CPI, Eurozone’s Core CPI, and Eurozone’s Current Account data were released today.
Eurozone August CPI has been reported at +0.5% m/m and +5.2% y/y, weaker than expectations of +0.6% m/m and +5.3% y/y.
Eurozone August Core CPI stood at +0.3% m/m and +5.3% y/y, in line with expectations.
Eurozone July Current Account came in at 20.9B, weaker than expectations of 30.2B.
Asian stock markets today settled in the red. China’s Shanghai Composite Index (SHCOMP) closed down -0.03%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.87%.
China’s Shanghai Composite today closed slightly lower as some investors maintained their cautious stance regarding the world’s second-largest economy despite recent data indicating some signs of stabilization. China’s central bank and forex regulator convened a meeting with foreign financial institutions and companies on Monday, including JPMorgan and HSBC, as part of Beijing’s efforts to attract overseas investment and support its economic recovery. People’s Bank of China Governor Pan Gongsheng said China would improve its policies and create a market-oriented and international-level business climate. Meanwhile, tourism, new energy, and computer stocks underperformed on Monday. On the positive side, Country Garden received bondholder approval on the last of a batch of eight local notes for which it had requested repayment extensions, while Sunac China Holdings gained approval from creditors for its debt restructuring plan.
“August activity data released last week showed some marginal improvement... However, we see very limited signs that the economy has truly bottomed out. All eyes are on the property sector after so many easing measures were rolled out in the past month,” said Ting Lu, chief China economist at Nomura.
Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan. Chip-making equipment maker Tokyo Electron plunged over -5% and was the top percentage loser on the Nikkei. Also, chip-testing equipment maker Advantest slid about -4%, while chip maker Renesas Electronics fell more than -4%. Meanwhile, the Bank of Japan will announce its policy decision on Friday following a two-day policy meeting. Investors are anticipating remarks from BOJ Governor Kazuo Ueda, who stated in an interview earlier this month that the central bank might gather sufficient data by year-end to assess whether conditions were suitable for raising short-term interest rates. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +5.82% to 16.92.
“Investors were cautious ahead of big events - the central meetings in the U.S. and Japan,” said Takamasa Ikeda, a senior portfolio manager at GCI Asset Management.
Pre-Market U.S. Stock Movers
Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral.
Avinger Inc (AVGR) soared over +11% in pre-market trading after the pharma device manufacturer entered into an agreement as a sales agent to offer shares initially up to an aggregate offering price of $7M at-the-market public offering.
Kinnate Biopharma Inc (KNTE) plunged more than -8% in pre-market trading following the company’s announcement of a 70% reduction in its workforce as part of a realignment of its drug development initiatives. Also, Piper Sandler downgraded the stock to Neutral from Overweight.
Globus Medical (GMED) gained over +1% in pre-market trading after Stifel upgraded the stock to Buy from Hold.
Planet Fitness Inc (PLNT) dropped more than -4% in pre-market trading after JPMorgan downgraded the stock to Neutral from Overweight.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Tuesday - September 19th
AutoZone (AZO), Endava (DAVA), Apogee (APOG), Steelcase (SCS).
More Stock Market News from Barchart
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Bumble's Big Bet: Why NOW Could Be the Perfect Time to Swipe Right on BMBL Stock
On the date of publication, Oleksandr Pylypenko 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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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Meanwhile, oil soared to a 10-month high, continuing a robust rally that could reignite inflation, as OPEC+ supply cuts tightened the market, and Saudi Arabia’s energy minister showed no inclination to alter the current course. China’s central bank and forex regulator convened a meeting with foreign financial institutions and companies on Monday, including JPMorgan and HSBC, as part of Beijing’s efforts to attract overseas investment and support its economic recovery.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. The Euro Stoxx 50 futures are up +0.26% this morning as investors exercised caution and refrained from making big bets ahead of interest rate decisions by major central banks this week. Pre-Market U.S. Stock Movers Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan. Pre-Market U.S. Stock Movers Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Also, European Central Bank Governing Council member Francois Villeroy de Galhau stated that the ECB would keep interest rates at 4% for as long as necessary to tame inflation, indicating that he is not inclined toward future rate hikes at this stage. Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan.
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725348.0
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2023-09-19 00:00:00 UTC
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S&P Futures Tick Higher Ahead of FOMC Meeting, Oil’s Climb Raises Inflation Concerns
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DELL
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https://www.nasdaq.com/articles/sp-futures-tick-higher-ahead-of-fomc-meeting-oils-climb-raises-inflation-concerns
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nan
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December S&P 500 futures (ESZ23) are trending up +0.12% this morning as market participants geared up for a big week for central banks, with the spotlight on the Federal Reserve’s interest rate decision on Wednesday.
In Monday’s trading session, Wall Street’s major averages closed just above the flatline. Apple Inc (AAPL) rose over +1% on optimism regarding robust pre-orders for the company’s latest iPhone 15. Also, Alteryx Inc (AYX) climbed more than +4% after Morgan Stanley upgraded the stock to Overweight from Equal Weight. On the bearish side, Tesla Inc (TSLA) fell over -3% and was among the top percentage losers on the tech-heavy Nasdaq 100 after Goldman Sachs slightly lowered its 2023 and 2024 earnings estimates for the electric vehicle giant. In addition, Arm Holdings (ARM) plunged more than -4% after Bernstein initiated coverage of the stock with an Underperform rating.
The Federal Reserve kicks off its two-day meeting later in the day, with investors widely expecting the U.S. central bank to keep rates on hold Wednesday. Also, investors’ focus will be on Fed Chair Jerome Powell’s post-decision press conference and the Fed’s quarterly dot plot in its Summary of Economic Projections.
“Ongoing questions about Fed policy - how high and for how long? - almost ensure near-term stock activity will remain choppy, although longer-term investors who take their cue from earnings should have an opportunity to benefit,” said Robert Teeter, managing director of Silvercrest Asset Management.
Meanwhile, oil soared to a 10-month high, continuing a robust rally that could reignite inflation, as OPEC+ supply cuts tightened the market, and Saudi Arabia’s energy minister showed no inclination to alter the current course.
Today, all eyes are focused on the U.S. Building Permits preliminary data in a couple of hours. Economists, on average, forecast that August Building Permits will stand at 1.440M, compared to the previous value of 1.443M.
Also, investors are likely to focus on U.S. Housing Starts data, which was at 1.452M in July. Economists foresee the August figure to be 1.440M.
In the bond markets, United States 10-year rates are at 4.325%, up +0.16%.
The Euro Stoxx 50 futures are up +0.26% this morning as investors exercised caution and refrained from making big bets ahead of interest rate decisions by major central banks this week. Automobile and energy stocks gained ground on Tuesday, while industrial and tech stocks underperformed. Eurostat said on Tuesday that consumer inflation in the Eurozone for August was slightly below the initial estimate, although it still remained more than twice the European Central Bank’s target. Meanwhile, the Bank of England is set to meet on Thursday, and it is expected to implement its 15th consecutive interest rate hike, bringing benchmark borrowing costs to 5.5%. Also, European Central Bank Governing Council member Francois Villeroy de Galhau stated that the ECB would keep interest rates at 4% for as long as necessary to tame inflation, indicating that he is not inclined toward future rate hikes at this stage. In corporate news, Kingfisher Plc (KGF.LN) plunged over -6% after the European home improvement retailer slashed its annual profit guidance.
Eurozone’s CPI, Eurozone’s Core CPI, and Eurozone’s Current Account data were released today.
Eurozone August CPI has been reported at +0.5% m/m and +5.2% y/y, weaker than expectations of +0.6% m/m and +5.3% y/y.
Eurozone August Core CPI stood at +0.3% m/m and +5.3% y/y, in line with expectations.
Eurozone July Current Account came in at 20.9B, weaker than expectations of 30.2B.
Asian stock markets today settled in the red. China’s Shanghai Composite Index (SHCOMP) closed down -0.03%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.87%.
China’s Shanghai Composite today closed slightly lower as some investors maintained their cautious stance regarding the world’s second-largest economy despite recent data indicating some signs of stabilization. China’s central bank and forex regulator convened a meeting with foreign financial institutions and companies on Monday, including JPMorgan and HSBC, as part of Beijing’s efforts to attract overseas investment and support its economic recovery. People’s Bank of China Governor Pan Gongsheng said China would improve its policies and create a market-oriented and international-level business climate. Meanwhile, tourism, new energy, and computer stocks underperformed on Monday. On the positive side, Country Garden received bondholder approval on the last of a batch of eight local notes for which it had requested repayment extensions, while Sunac China Holdings gained approval from creditors for its debt restructuring plan.
“August activity data released last week showed some marginal improvement... However, we see very limited signs that the economy has truly bottomed out. All eyes are on the property sector after so many easing measures were rolled out in the past month,” said Ting Lu, chief China economist at Nomura.
Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan. Chip-making equipment maker Tokyo Electron plunged over -5% and was the top percentage loser on the Nikkei. Also, chip-testing equipment maker Advantest slid about -4%, while chip maker Renesas Electronics fell more than -4%. Meanwhile, the Bank of Japan will announce its policy decision on Friday following a two-day policy meeting. Investors are anticipating remarks from BOJ Governor Kazuo Ueda, who stated in an interview earlier this month that the central bank might gather sufficient data by year-end to assess whether conditions were suitable for raising short-term interest rates. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +5.82% to 16.92.
“Investors were cautious ahead of big events - the central meetings in the U.S. and Japan,” said Takamasa Ikeda, a senior portfolio manager at GCI Asset Management.
Pre-Market U.S. Stock Movers
Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral.
Avinger Inc (AVGR) soared over +11% in pre-market trading after the pharma device manufacturer entered into an agreement as a sales agent to offer shares initially up to an aggregate offering price of $7M at-the-market public offering.
Kinnate Biopharma Inc (KNTE) plunged more than -8% in pre-market trading following the company’s announcement of a 70% reduction in its workforce as part of a realignment of its drug development initiatives. Also, Piper Sandler downgraded the stock to Neutral from Overweight.
Globus Medical (GMED) gained over +1% in pre-market trading after Stifel upgraded the stock to Buy from Hold.
Planet Fitness Inc (PLNT) dropped more than -4% in pre-market trading after JPMorgan downgraded the stock to Neutral from Overweight.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Tuesday - September 19th
AutoZone (AZO), Endava (DAVA), Apogee (APOG), Steelcase (SCS).
More Stock Market News from Barchart
Stock Investors Remain Cautious Ahead of FOMC Meeting
3 Cannabis Stocks That Have More Upside Potential Than Canopy Growth, According to Wall Street Analysts
1 Standout Oil Stock to Buy as Crude Hits Another New 2023 High
Bumble's Big Bet: Why NOW Could Be the Perfect Time to Swipe Right on BMBL Stock
On the date of publication, Oleksandr Pylypenko 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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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Meanwhile, oil soared to a 10-month high, continuing a robust rally that could reignite inflation, as OPEC+ supply cuts tightened the market, and Saudi Arabia’s energy minister showed no inclination to alter the current course. China’s central bank and forex regulator convened a meeting with foreign financial institutions and companies on Monday, including JPMorgan and HSBC, as part of Beijing’s efforts to attract overseas investment and support its economic recovery.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. The Euro Stoxx 50 futures are up +0.26% this morning as investors exercised caution and refrained from making big bets ahead of interest rate decisions by major central banks this week. Pre-Market U.S. Stock Movers Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan. Pre-Market U.S. Stock Movers Nio Inc (NIO) slid over -4% in pre-market trading after announcing a proposed offering of $500M in aggregate principal amount of convertible senior notes due 2029 and $500M in aggregate principal amount of convertible senior notes due 2030.
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Dell Technologies Inc (DELL) rose about +1% in pre-market trading after Daiwa upgraded the stock to Outperform from Neutral. Also, European Central Bank Governing Council member Francois Villeroy de Galhau stated that the ECB would keep interest rates at 4% for as long as necessary to tame inflation, indicating that he is not inclined toward future rate hikes at this stage. Japan’s Nikkei 225 Stock Index closed lower today, with chip-related stocks leading the decline, as investors exercised caution in anticipation of central bank meetings in both the United States and Japan.
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9fbd6aa0-dba8-4081-bfb0-0c7afc00aaae
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725349.0
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2023-09-19 00:00:00 UTC
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Stocks Fall as Crude Oil Surge Complicates the FOMC’s Task
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DELL
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https://www.nasdaq.com/articles/stocks-fall-as-crude-oil-surge-complicates-the-fomcs-task
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nan
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What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.49%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.44%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.80%.
Stocks are falling on this morning’s weak U.S. housing starts report and today’s +3.4 bp rise in the 10-year T-note yield. There is also downward pressure from the possibilities of an expanding UAW strike and a U.S. government shutdown on September 30. Oil prices rallied to a new 10-1/2 month high today, which boosted oil company stocks but was negative for the inflation outlook and hawkish for Fed policy.
Stocks are trading lower on a cautious note ahead of the 2-day FOMC meeting that begins today. The markets are fully expecting the FOMC to leave its funds rate target unchanged at 5.25/5.50%. However, the markets are expecting the FOMC to maintain its hawkish bias and keep in play the possibility of one more rate hike later this year.
Specifically, the markets are discounting a 29% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 15% chance for that 25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in 2024 in response to an expected slowdown in the U.S. economy.
October WTI crude oil prices this morning are up +1.39 (+1.52%) at $92.83 per barrel, posting a new 10-1/2 month high on the nearest-futures chart. Oil prices have rallied sharply in the past two months on a tight supply outlook through year-end after Saudi Arabia and Russia both announced that they will extend their production cuts through year-end.
The OECD today cut its global GDP forecast for 2024 to +2.7% from +3.0%, with the comment that “While high inflation continues to unwind, the world economy remains in a difficult place. We’re confronting the double challenges of inflation and low growth.”
U.S. Aug housing starts fell -11.3% to 1.283 million, much weaker than expectations for a decline of about -1%. However, Aug building permits rose +6.9% m/m to 1.542 million, stronger than expectations for a small decline.
The Eurozone final-Aug CPI was revised slightly lower to +0.5% m/m and +5.2% y/y from the preliminary report of +0.6% m/m and +5.3% y/y. The final-core CPI was left unrevised at +5.3% y/y.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.17%. China’s Shanghai Composite Index closed -0.03%. Japan’s Nikkei 225 today closed down -0.87%.
Today’s stock movers…
The UAW today said that more autoworkers will go on strike at noon on Friday if there isn’t substantial progress on contract talks. GM (GM) is up +0.3%, Ford (F) is up +0.2%, and Stellantis NV (STLA) is up +2.4%.
Oil stocks are seeing support as WTI crude oil prices today rallied to a new 10-1/2 month high. Exxon (XOM) is up +0.5%, Chevron (CVX) is up +0.3%, and Conoco Phillips (COP) is unchanged.
Dell Technologies (DELL) is up +0.9% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook.
Starbucks (SBUX) is down -2.4% on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures.
CVS Corp (CVS) is up +1.6% on an upgrade by Evercore ISI due to improving operational issues and an attractive valuation.
Rackspace Technology (RXT) is up +30% on an upgrade by Raymond James to outperform from market-perform on an improved outlook for its turnaround plan.
Rocket Lab USA (RKLB) is down -8% after the company was forced to end its latest rocket launch mission and postponed an upcoming mission.
Royal Caribbean Cruises (RCL) is up by +2.1%, and Carnival (CCL) is up +0.7%, after upgrades by Truist Securities to Buy and Hold, respectively, due to strong trends and more attractive valuations.
Grocery-delivery business Maplebear Inc, doing business as Instacart (CART), will soon begin trading after its IPO was priced on Monday at $30 per share, at the high end of its marketed range. CART raised $660 million of cash at the IPO and had an IPO valuation of $9.9 billion.
Across the markets…
December 10-year T-notes (ZNZ23) today are down -6 ticks, and the 10-year T-note yield is up +3.4 bp at 4.337%. T-notes are under pressure today as oil prices continue higher and put upward pressure on inflation expectations. Also, the Fed may be forced to hold interest rates higher-for-longer if gasoline prices continue to rise and push the inflation statistics higher. The 10-year breakeven inflation expectations rate today is up +0.8 bp at 2.370%. T-notes received support today from the weak U.S. housing starts report, which suggested that high mortgage rates are curbing homebuilder plans to build new houses.
The dollar index (DXY00) today is down -0.13% despite expectations for a hawkish FOMC meeting this week and today’s rise in U.S. T-note yields. Meanwhile, EUR/USD (^EURUSD) is down -0.06%, and USD/JPY (^USDJPY) is up +0.10%. The euro was slightly undercut by today’s small downward revision in the Eurozone CPI, which was dovish for ECB policy. The Japanese markets are looking forward to the Bank of Japan’s policy meeting on Friday.
October gold (GCV3) today is down -0.7 (-0.04%), and Dec silver (SIZ23) is down -0.093 (-0.40%). Precious metals prices are being undercut by today’s rise in the 10-year T-note yield, but have support from the slightly lower dollar and safe-haven demand sparked by weak stocks. Silver was undercut by today’s weak U.S. housing starts report. Gold continues to be pressured by the liquidation pressures after long gold holdings in ETFs fell to a 3-1/2 year low on Monday.
More Stock Market News from Barchart
GameStop: Boom or Bust?
5 Essential Steps to Start an Emergency Fund
Markets Today: Stocks Little Changed as FOMC Expected to Announce a Hawkish Pause
On the date of publication, Rich Asplund 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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Dell Technologies (DELL) is up +0.9% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Starbucks (SBUX) is down -2.4% on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures. Precious metals prices are being undercut by today’s rise in the 10-year T-note yield, but have support from the slightly lower dollar and safe-haven demand sparked by weak stocks.
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Dell Technologies (DELL) is up +0.9% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Stocks are falling on this morning’s weak U.S. housing starts report and today’s +3.4 bp rise in the 10-year T-note yield. Oil stocks are seeing support as WTI crude oil prices today rallied to a new 10-1/2 month high.
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Dell Technologies (DELL) is up +0.9% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Oil prices rallied to a new 10-1/2 month high today, which boosted oil company stocks but was negative for the inflation outlook and hawkish for Fed policy. T-notes are under pressure today as oil prices continue higher and put upward pressure on inflation expectations.
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Dell Technologies (DELL) is up +0.9% on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. The dollar index (DXY00) today is down -0.13% despite expectations for a hawkish FOMC meeting this week and today’s rise in U.S. T-note yields. The euro was slightly undercut by today’s small downward revision in the Eurozone CPI, which was dovish for ECB policy.
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c5982cdc-c284-4f73-afcb-f40cb392fc33
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725350.0
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2023-09-19 00:00:00 UTC
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Markets Today: Stocks Little Changed as FOMC Expected to Announce a Hawkish Pause
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DELL
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https://www.nasdaq.com/articles/markets-today%3A-stocks-little-changed-as-fomc-expected-to-announce-a-hawkish-pause
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Morning Markets
December E-Mini S&P 500 futures (ESZ23) and Dec Nasdaq 100 E-Mini futures (NQZ23) this morning are little changed.
Stock index futures this morning are little changed but are seeing downward pressure from this morning’s weak U.S. housing starts report and today’s +3.8 bp rise in the 10-year T-note yield. There is also downward pressure from the possibilities of an expanding UAW strike and a U.S. government shutdown on September 30. Oil prices rallied to a new 10-1/2 month high today, which boosted oil company stocks but was negative for the inflation outlook and hawkish for Fed policy.
Stocks are trading lower on a cautious note ahead of the 2-day FOMC meeting that begins today. The markets are fully expecting the FOMC this week to leave its funds rate target unchanged at 5.25/5.50%. However, the markets are expecting the FOMC to maintain a hawkish bias and keep in play the possibility of one more rate hike later this year.
Specifically, the markets are discounting a 31% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 14% chance for that 25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in 2024 in response to an expected slowdown in the U.S. economy.
U.S. and German bond yields today are higher, but UK yields are lower. The 10-year T-note yield is up +3.8 bp at 4.341%. The 10-year German bund yield is up +0.3 bp at 2.708%. The 10-year UK gilt yield is down -4.2 bp at 4.349%.
October WTI crude oil prices this morning are up +0.81 (+0.89%) at $92.29 per barrel, posting a new 10-1/2 month high on the nearest-futures chart. Oil prices have rallied sharply in the past two months on a tight supply outlook through year-end after Saudi Arabia and Russia both announced that they will extend their production cuts through year-end. The continued rally in oil prices is putting upward pressure on inflation expectations, with the 10-year breakeven inflation expectations rate today up +0.2 bp at 2.365%.
The OECD today cut its global GDP forecast for 2024 to +2.7% from +3.0%, with the comment that “While high inflation continues to unwind, the world economy remains in a difficult place. We’re confronting the double challenges of inflation and low growth.”
U.S. Aug housing starts fell -11.3% to 1.283 million, much weaker than expectations for a decline of about -1%. However, Aug building permits rose +6.9% m/m to 1.542 million, stronger than expectations for a small decline.
The Eurozone final-Aug CPI was revised slightly lower to +0.5% m/m and +5.2% y/y from the preliminary report of +0.6% m/m and +5.3% y/y. The final-core CPI was left unrevised at +5.3% y/y.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.05%. China’s Shanghai Composite Index closed -0.03%. Japan’s Nikkei 225 today closed down -0.87%.
Pre-Market U.S. Stock Movers
Grocery-delivery business Maplebear Inc, doing business as Instacart (CART), will start trading today after its IPO was priced on Monday at $30 per share, at the high end of its marketed range. CART raised $660 million of cash at the IPO and had an IPO valuation of $9.9 billion.
The UAW today said that more autoworkers will go on strike at noon on Friday if there isn’t substantial progress on contract talks. GM (GM) is up +0.3% in pre-market trading, Ford (F) is up +0.2%, and Stellantis NV (STLA) is up +2.4%.
Oil stocks are seeing support as WTI crude oil prices today rallied to a new 10-1/2 month high. Exxon (XOM) is up +0.5% in pre-market trading, Chevron (CVX) is up +0.4%, and Conoco Phillips (COP) is up +0.3%.
Dell Technologies (DELL) is up +1.1% in pre-market trading on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook.
Starbucks (SBUX) is down -1.3% in pre-market trading on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures.
CVS Corp (CVS) is up +1.0% in pre-market trading on an upgrade by Evercore ISI due to improving operational issues and an attractive valuation.
Rackspace Technology (RXT) is up +9.4% in pre-market trading on an upgrade by Raymond James to outperform from market-perform on an improved outlook for its turnaround plan.
Rocket Lab USA (RKLB) plunged -23% in pre-market trading after the company was forced to end its latest rocket launch mission and postponed an upcoming mission.
Royal Caribbean Cruises (RCL) and Carnival (CCL) are up more than +1.5% in pre-market trading after upgrades by Truist Securities to Buy and Hold, respectively, due to strong trends and more attractive valuations.
(9/19/2023)
AutoZone Inc (AZO), Apogee Enterprises Inc (APOG), Ispire Technology Inc (ISPR), Steelcase Inc (SCS).
More Stock Market News from Barchart
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Bearish Outlook? Try These Bear Call Spread Trades
S&P Futures Tick Higher Ahead of FOMC Meeting, Oil’s Climb Raises Inflation Concerns
Stock Investors Remain Cautious Ahead of FOMC Meeting
On the date of publication, Rich Asplund 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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Dell Technologies (DELL) is up +1.1% in pre-market trading on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. The OECD today cut its global GDP forecast for 2024 to +2.7% from +3.0%, with the comment that “While high inflation continues to unwind, the world economy remains in a difficult place. Starbucks (SBUX) is down -1.3% in pre-market trading on a downgrade by TD Cowen to market-perform from outperform due to a “worrisome” outlook for Chinese same-store sales tied to macroeconomic and competitive pressures.
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Dell Technologies (DELL) is up +1.1% in pre-market trading on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Stock index futures this morning are little changed but are seeing downward pressure from this morning’s weak U.S. housing starts report and today’s +3.8 bp rise in the 10-year T-note yield. The continued rally in oil prices is putting upward pressure on inflation expectations, with the 10-year breakeven inflation expectations rate today up +0.2 bp at 2.365%.
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Dell Technologies (DELL) is up +1.1% in pre-market trading on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Specifically, the markets are discounting a 31% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 14% chance for that 25 bp rate hike at the following meeting that ends on December 13. The continued rally in oil prices is putting upward pressure on inflation expectations, with the 10-year breakeven inflation expectations rate today up +0.2 bp at 2.365%.
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Dell Technologies (DELL) is up +1.1% in pre-market trading on an upgrade by Daiwa Securities to outperform from neutral on an improved demand outlook. Stock index futures this morning are little changed but are seeing downward pressure from this morning’s weak U.S. housing starts report and today’s +3.8 bp rise in the 10-year T-note yield. Specifically, the markets are discounting a 31% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 14% chance for that 25 bp rate hike at the following meeting that ends on December 13.
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4e2ce6ae-a264-43c4-b37c-c94afde6ca2d
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725351.0
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2023-09-19 00:00:00 UTC
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The Zacks Analyst Blog Highlights Caterpillar, General Electric, Dell Technologies, Automatic Data Processing and Apollo Global Management
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DELL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-caterpillar-general-electric-dell-technologies-automatic
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nan
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nan
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For Immediate Release
Chicago, IL – September 19, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Caterpillar Inc. CAT, General Electric Co. GE, Dell Technologies Inc. DELL, Automatic Data Processing Inc. ADP and Apollo Global Management Inc. APO.
Here are highlights from Monday’s Analyst Blog:
5 High-Flying Majors of the Past 3 Months with Room to Grow
Wall Street has seen a bull run in 2023 after a highly disappointing 2022. Year to date, all three major stock indexes are in positive territory. In fact, the S&P 500 and the Nasdaq Composite have witnessed an impressive rally.
However, in the past one and a half months, volatility has returned to U.S. stock markets. The Dow, the S&P 500 and the Nasdaq Composite exhibited negative returns during this period. At present, market participants are clueless regarding the near-term movement of U.S. stock markets.
The Fed's September FOMC meeting to be held this week is of utmost importance. CME FedWatch is currently showing a 98% probability that the central bank will keep the fed fund rate unchanged in the range of 5.25-5.5%. However, the post-FOMC statement of Fed Chair Jerome Powell will be scrutinized word-by-word to find out the future course of the Fed's monetary policies.
Meanwhile, a handful of U.S. corporate giants popped in the past three months defying volatility. Investment in these stocks with a favorable Zacks Rank should be fruitful for investors.
Our Top Picks
We have narrowed our search to five U.S. corporate behemoths (market capital > $50 billion) with strong potential left for the rest of this year. These stocks have seen positive earnings estimate revisions in the past 60 days.
Moreover, these companies are regular dividend payers, thus generating an income stream during a market's downturn. Finally, each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Caterpillar Inc. has seen year-over-year revenue and earnings growth for nine straight quarters thanks to its cost-saving actions, strong end-market demand and pricing actions that offset the impact of supply-chain snarls and cost pressures. We expect the company's adjusted earnings per share for 2023 to grow 19.5% and revenues to rise 7.6%.
Zacks Rank #1 Caterpillar has an expected revenue and earnings growth rate of 11.9% and 43.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the past 30 days. CAT has a current dividend yield of 1.86%.
General Electric Co. has been benefitting from the strong performance of the Aerospace unit, driven by commercial aerospace strength, significant growth in LEAP engine deliveries and higher defense engine orders.
With strength in GE Gas Power services and growth in Grid business and Onshore Wind in North America, there are signs of improvement in GE Vernova (the combined operations of GE Power and Renewable). Due to these tailwinds, GE raised its 2023 guidance.
Zacks Rank #1 General Electric has an expected revenue and earnings growth rate of 8.6% and 86.9%, respectively, for the next year. The Zacks Consensus Estimate for next-year earnings has improved 0.9% over the past 30 days. GE has a current dividend yield of 0.28%.
Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for the next year. The Zacks Consensus Estimate for next-year earnings has improved 11.6% over the past 30 days. DELL has a current dividend yield of 2.14%.
Automatic Data Processing Inc. continues to enjoy a dominant position in the human capital management market through strategic buyouts like Celergo, WorkMarket, Global Cash Card and The Marcus Buckingham Company.
ADP has a strong business model, high recurring revenues, good margins, robust client retention and low capital expenditure. Further, ADP continues to innovate, improve operations, and invest in its ongoing transformation efforts.
Zacks Rank #2 Automatic Data Processing has an expected revenue and earnings growth rate of 6.3% and 11.1%, respectively, for the current year (ending June 2024). The Zacks Consensus Estimate for current-year earnings has improved 11.1% over the past 60 days. ADP has a current dividend yield of 2.04%.
Apollo Global Management Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. APO provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors.
APO's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
Zacks Rank #2 Apollo Global Management has an expected revenue and earnings growth rate of 22.5% and 28.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 60.5% over the past 60 days. APO has a current dividend yield of 1.87%.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
General Electric Company (GE) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report
Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Apollo Global Management Inc. (APO) : 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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Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. Stocks recently featured in the blog include: Caterpillar Inc. CAT, General Electric Co. GE, Dell Technologies Inc. DELL, Automatic Data Processing Inc. ADP and Apollo Global Management Inc. APO. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
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Stocks recently featured in the blog include: Caterpillar Inc. CAT, General Electric Co. GE, Dell Technologies Inc. DELL, Automatic Data Processing Inc. ADP and Apollo Global Management Inc. APO. Click to get this free report General Electric Company (GE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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Click to get this free report General Electric Company (GE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks recently featured in the blog include: Caterpillar Inc. CAT, General Electric Co. GE, Dell Technologies Inc. DELL, Automatic Data Processing Inc. ADP and Apollo Global Management Inc. APO. Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for the next year. Stocks recently featured in the blog include: Caterpillar Inc. CAT, General Electric Co. GE, Dell Technologies Inc. DELL, Automatic Data Processing Inc. ADP and Apollo Global Management Inc. APO. Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.
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eb680096-750b-4ac8-a774-5a32c14b2ef7
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725352.0
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2023-09-18 00:00:00 UTC
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CGI (GIB) Benefits From Expanding Clientele, Partner Base
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DELL
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https://www.nasdaq.com/articles/cgi-gib-benefits-from-expanding-clientele-partner-base
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nan
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nan
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CGI GIB is benefiting from an expanding clientele and strong partner base. Shares have returned 20.6%, outperforming the Zacks Computer-Services industry’s 10.4%, on a year-to-date basis. However, it has underperformed the Zacks Computer & Technology sector’s return of 36.9%.
CGI has been benefiting from strong demand for its business solutions. In the fiscal third quarter, the overall IP portfolio grew 12.4% year over year or 7.7% at constant currency. The number of consultants and professionals increased year over year by 3K, totaling 91,500 worldwide.
Expanding clientele has been a key catalyst. CGI’s solutions were selected by the likes of the U.S. Environmental Protection Agency, and Bankgirot (Sweden’s payments clearinghouse), a government ministry in Germany.
CGI also expanded its footprint in the financial services sector as it signed 28 agreements with clients in the United States, Canada, UK and Australia. The company’s All Payments solution has recently been selected by Scotiabank, a leading Canadian multinational bank.
CGI’s cloud-proven enterprise payments platform will support Scotiabank’s innovative advances in payment solutions for its global client base. CGI All Payments is used by financial services clients across the world and supports multiple currencies, languages and payment channels.
CGI Group, Inc. Price and Consensus
CGI Group, Inc. price-consensus-chart | CGI Group, Inc. Quote
CGI recently inked a partnership with Alimentation Couche-Tard worth C$380 million to deliver managed IT services. As part of the ten-year partnership, CGI will deliver a comprehensive range of IT services and infrastructure support for the mission-critical business functions of Couche-Tard.
Alimentation Couche-Tard, which is a multinational operator of convenience stores in Canada, will leverage the partnership to improve services to its customers.
CGI’s Prospects Bright in 2023
CGI is expected to benefit from the ongoing digitalization amid challenging macroeconomic conditions. Strong demand for the company’s managed services and IP offerings is expected to drive top-line growth in the near term.
The company’s managed services pipeline for industries like manufacturing, retail, and energy and utilities is up more than 33% for the next year, while the IP pipeline is up 30%. Moreover, in government health care and insurance, CGI’s pipeline remains well balanced across consulting system integration and managed services and is up 20% year over year.
CGI is also investing in the development of AI-based solutions and services and plans to invest $1 billion over the next three years.
The Zacks Consensus Estimate for fiscal 2023 and fiscal 2024 revenues are pegged at $10.93 billion and $11.4 billion, indicating growth of 8.42% and 4.36%, respectively.
Zacks Rank & Stocks to Consider
CGI currently has a Zacks Rank #3 (Hold).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
CGI Group, Inc. (GIB) : Free Stock Analysis Report
Splunk Inc. (SPLK) : 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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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CGI Group, Inc. (GIB) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CGI Group, Inc. (GIB) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CGI Group, Inc. (GIB) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively.
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Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are some better-ranked stocks in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). The long-term earnings growth rate for Dell Technologies, NVIDIA and Splunk is currently pegged at 12%, 13.5% and 24.71%, respectively. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report CGI Group, Inc. (GIB) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here.
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f15af166-a502-4b16-bb03-55601310a1e5
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725353.0
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2023-09-18 00:00:00 UTC
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5 High-Flying Bigwigs in Past 3 Months With Room for Growth
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DELL
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https://www.nasdaq.com/articles/5-high-flying-bigwigs-in-past-3-months-with-room-for-growth
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nan
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nan
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Wall Street has seen a bull run in 2023 after a highly disappointing 2022. Year to date, all three major stock indexes are in positive territory. In fact, the S&P 500 and the Nasdaq Composite have witnessed an impressive rally.
However, in the past one and a half months, volatility has returned to U.S. stock markets. The Dow, the S&P 500 and the Nasdaq Composite exhibited negative returns during this period. At present, market participants are clueless regarding the near-term movement of U.S. stock markets.
The Fed’s September FOMC meeting to be held this week is of utmost importance. CME FedWatch is currently showing a 98% probability that the central bank will keep the fed fund rate unchanged in the range of 5.25-5.5%. However, the post-FOMC statement of Fed Chair Jerome Powell will be scrutinized word-by-word to find out the future course of the Fed’s monetary policies.
Meanwhile, a handful of U.S. corporate giants popped in the past three months defying volatility. Investment in these stocks with a favorable Zacks Rank should be fruitful for investors.
Our Top Picks
We have narrowed our search to five U.S. corporate behemoths (market capital > $50 billion) with strong potential left for the rest of this year. These stocks have seen positive earnings estimate revisions in the past 60 days.
Moreover, these companies are regular dividend payers, thus generating an income stream during a market’s downturn. Finally, each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past three months.
Image Source: Zacks Investment Research
Caterpillar Inc. CAT has seen year-over-year revenue and earnings growth for nine straight quarters thanks to its cost-saving actions, strong end-market demand and pricing actions that offset the impact of supply-chain snarls and cost pressures. We expect the company’s adjusted earnings per share for 2023 to grow 19.5% and revenues to rise 7.6%.
Zacks Rank #1 Caterpillar has an expected revenue and earnings growth rate of 11.9% and 43.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the past 30 days. CAT has a current dividend yield of 1.86%.
General Electric Co. GE has been benefitting from the strong performance of the Aerospace unit, driven by commercial aerospace strength, significant growth in LEAP engine deliveries and higher defense engine orders.
With strength in GE Gas Power services and growth in Grid business and Onshore Wind in North America, there are signs of improvement in GE Vernova (the combined operations of GE Power and Renewable). Due to these tailwinds, GE raised its 2023 guidance.
Zacks Rank #1 General Electric has an expected revenue and earnings growth rate of 8.6% and 86.9%, respectively, for the next year. The Zacks Consensus Estimate for next-year earnings has improved 0.9% over the past 30 days. GE has a current dividend yield of 0.28%.
Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for the next year. The Zacks Consensus Estimate for next-year earnings has improved 11.6% over the past 30 days. DELL has a current dividend yield of 2.14%.
Automatic Data Processing Inc. ADP continues to enjoy a dominant position in the human capital management market through strategic buyouts like Celergo, WorkMarket, Global Cash Card and The Marcus Buckingham Company.
ADP has a strong business model, high recurring revenues, good margins, robust client retention and low capital expenditure. Further, ADP continues to innovate, improve operations, and invest in its ongoing transformation efforts.
Zacks Rank #2 Automatic Data Processing has an expected revenue and earnings growth rate of 6.3% and 11.1%, respectively, for the current year (ending June 2024). The Zacks Consensus Estimate for current-year earnings has improved 11.1% over the past 60 days. ADP has a current dividend yield of 2.04%.
Apollo Global Management Inc. APO is a private equity firm specializing in investments in credit, private equity and real estate markets. APO provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors.
APO’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.
Zacks Rank #2 Apollo Global Management has an expected revenue and earnings growth rate of 22.5% and 28.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 60.5% over the past 60 days. APO has a current dividend yield of 1.87%.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
General Electric Company (GE) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report
Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Apollo Global Management Inc. (APO) : 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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Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group. Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for the next year.
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Click to get this free report General Electric Company (GE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
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Click to get this free report General Electric Company (GE) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group.
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Dell Technologies Inc. DELL designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. DELL operates through two segments, Infrastructure Solutions Group and Client Solutions Group. Zacks Rank #1 Dell Technologies has an expected revenue and earnings growth rate of 4.8% and 8.4%, respectively, for the next year.
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6e3f0ce2-365e-4e23-8015-e5e4f40bc4c9
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725354.0
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2023-09-15 00:00:00 UTC
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3 Top-Ranked Stocks Value Investors Shouldn't Ignore
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DELL
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https://www.nasdaq.com/articles/3-top-ranked-stocks-value-investors-shouldnt-ignore
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nan
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nan
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There are various approaches to investing, and investors can choose from different styles, including prioritizing generating income, targeting value stocks, or investing in particular industries.
Value-focused investors target mispriced stocks with the idea that others will eventually ‘catch on’ and recognize their actual value, which can lead to serious gains. After all, we all enjoy a nice deal.
And for those seeking stocks without stretched valuations – American Eagle Outfitters AEO, American Woodmark AMWD, and Dell Technologies DELL – could all be considerations.
In addition to sound valuation levels, all three sport a favorable Zacks Rank, indicating optimism among analysts. Let’s take a closer look at each.
Dell Technologies
Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions. Analysts have raised their expectations among all timeframes, with the revisions trends particularly notable for its current and next fiscal years.
Image Source: Zacks Investment Research
It’s worth noting that the company has consistently exceeded quarterly expectations as of late, beating the Zacks Consensus EPS Estimate by an average of 40% across its last four releases. Just in its latest print, Dell posted a 54% EPS beat and reported revenue 10% ahead of expectations.
Shares currently trade at an 11.3X forward earnings multiple, nicely beneath the Zacks Computer and Technology sector average of 27.4X. Shares have traded as high as 13.6X over the last five years.
Image Source: Zacks Investment Research
American Eagle Outfitters
American Eagle Outfitters is a specialty retailer of casual apparel, accessories, and footwear for men and women aged 15–25. The stock is a Zacks Rank #1 (Strong Buy), with earnings expectations increasing across the board.
Image Source: Zacks Investment Research
AEO shares currently trade at a 13.1X forward earnings multiple, nowhere near the Zacks Retail and Wholesale sector average of 24.2X and five-year highs of 39.4X. The stock sports a Style Score of “A” for Value.
In addition, income-focused investors could be attracted to AEO, with shares currently yielding a solid 2.6% annually. Dividend growth is also apparent, with the payout growing by 3% annually over the last five years.
American Woodmark
American Woodmark is the third-largest manufacturer of kitchen and bath cabinets. The company has enjoyed positive earnings estimate revisions across the board, helping land the stock into a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
AMWD shares presently trade at an 11.3X forward earnings multiple, a few ticks below the 11.6X five-year median and highs of 18.7X last year. Like AEO, the stock sports a Style Score of “A” for Value.
Image Source: Zacks Investment Research
The company has consistently posted bottom-line results above expectations, exceeding the Zacks Consensus EPS Estimate by an average of 25% across its last four releases. Just in its latest print, AMWD exceeded earnings expectations by more than 26% and posted a 2% revenue surprise.
AMWD’s revenue has shown steady growth, as we can see illustrated below.
Image Source: Zacks Investment Research
Bottom Line
Value-conscious investors are always looking for deals, sitting in the shadows and waiting for the rest of the crowd to catch on. The strategy can be quite lucrative, especially when it’s paired with the Zacks Rank.
And for those seeking stocks with sound valuations, all three above – American Eagle Outfitters AEO, American Woodmark AMWD, and Dell Technologies DELL – precisely fit the criteria. On top of sound valuations, all three sport a favorable Zacks Rank, indicating optimism among analysts.
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.
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American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
American Woodmark Corporation (AMWD) : Free Stock Analysis Report
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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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And for those seeking stocks without stretched valuations – American Eagle Outfitters AEO, American Woodmark AMWD, and Dell Technologies DELL – could all be considerations. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions. Just in its latest print, Dell posted a 54% EPS beat and reported revenue 10% ahead of expectations.
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And for those seeking stocks without stretched valuations – American Eagle Outfitters AEO, American Woodmark AMWD, and Dell Technologies DELL – could all be considerations. Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report American Woodmark Corporation (AMWD) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions.
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Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report American Woodmark Corporation (AMWD) : Free Stock Analysis Report To read this article on Zacks.com click here. And for those seeking stocks without stretched valuations – American Eagle Outfitters AEO, American Woodmark AMWD, and Dell Technologies DELL – could all be considerations. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions.
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And for those seeking stocks without stretched valuations – American Eagle Outfitters AEO, American Woodmark AMWD, and Dell Technologies DELL – could all be considerations. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions. Just in its latest print, Dell posted a 54% EPS beat and reported revenue 10% ahead of expectations.
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725355.0
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2023-09-14 00:00:00 UTC
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Buy These 3 Top-Ranked Tech Stocks for Passive Income
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DELL
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https://www.nasdaq.com/articles/buy-these-3-top-ranked-tech-stocks-for-passive-income
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When constructing an income-generating portfolio, popular sectors that investors target often include utilities, finance, or consumer staples.
Income investors are typically less attracted to the tech sector, as these companies frequently use cash to fuel growth and spur innovation. However, there’s a wide variety of those out there that reward their shareholders nicely.
Three technology stocks – NetEase NTES, MSCI MSCI, and Dell Technologies DELL – all pay their shareholders. In addition, all three have seen their earnings outlooks shift positively over the last several months, reflecting optimism among analysts.
For those seeking a passive income stream paired with technology exposure, let’s take a closer look at each.
NetEase
NetEase, a current Zacks Rank #1 (Strong Buy), is an Internet technology company engaged in the development of applications, services, and other technologies for the Internet in China. Analysts have taken their earnings expectations higher across all timeframes.
Image Source: Zacks Investment Research
NTES shares currently yield a solid 2.1% annually, nicely above the Zacks Computer & Technology The company’s payout has grown nicely over the recent years, sporting a 26% five-year annualized dividend growth rate.
NetEase recently announced an 11% increase to its quarterly dividend to $0.52 per share, compared to $0.47 per share previously.
Image Source: Zacks Investment Research
In addition, NTES shares aren’t valuation stretched given its forecasted growth, with earnings forecasted to climb 30% in its current year. Shares currently trade at a 15.5X forward earnings multiple, well beneath the 26.1X five-year median.
Image Source: Zacks Investment Research
MSCI Inc.
MSCI is a leading provider of critical decision support tools and services for the global investment community, widely known for ESG research and ratings. Currently, the company sports a Zacks Rank #2 (Buy), with earnings expectations modestly increasing across the board.
Image Source: Zacks Investment Research
MSCI shares currently yield 1.1% annually paired with a payout ratio sitting at 46% of the company’s earnings. Like NTES, MSCI is committed to increasingly rewarding shareholders, sporting a 22% five-year annualized dividend growth rate.
Image Source: Zacks Investment Research
The company also sports a solid growth profile, with Zacks Consensus Estimates suggesting 15% earnings growth on 11% higher revenues in its current fiscal year (FY23). And peeking ahead to FY24, estimates allude to a further 14% uptick in earnings paired with a 10% sales increase.
Dell Technologies
Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions. Analysts have raised their expectations among all timeframes, with the revisions trends particularly notable for its current and next fiscal years.
Image Source: Zacks Investment Research
DELL shares currently yield 2.1% annually paired with a sustainable payout ratio sitting at 24% of the company’s earnings. The company’s payout has grown by a solid 12.1% just over the last year following a recent payout boost.
It’s worth noting that the company has consistently exceeded quarterly expectations as of late, beating the Zacks Consensus EPS Estimate by an average of 40% across its last four releases. Just in its latest print, Dell posted a 54% EPS beat and reported revenue 10% ahead of expectations.
Bottom Line
Who doesn’t love dividends? They provide a passive income stream, allow for maximum returns through dividend reinvestment, and provide a shield against drawdowns in other positions.
And who doesn’t love technology stocks? Their explosive growth and momentum in 2023 are hard to ignore, with many looking for exposure.
For those seeking dividend-paying technology stocks, all three above – NetEase NTES, MSCI MSCI, and Dell Technologies DELL – could be great considerations.
All three reward their shareholders nicely and sport favorable Zacks Ranks, with the latter reflecting optimism among analysts.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NetEase, Inc. (NTES) : Free Stock Analysis Report
MSCI Inc (MSCI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: Zacks Investment Research DELL shares currently yield 2.1% annually paired with a sustainable payout ratio sitting at 24% of the company’s earnings. Three technology stocks – NetEase NTES, MSCI MSCI, and Dell Technologies DELL – all pay their shareholders. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report MSCI Inc (MSCI) : Free Stock Analysis Report To read this article on Zacks.com click here. Three technology stocks – NetEase NTES, MSCI MSCI, and Dell Technologies DELL – all pay their shareholders. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NetEase, Inc. (NTES) : Free Stock Analysis Report MSCI Inc (MSCI) : Free Stock Analysis Report To read this article on Zacks.com click here. Three technology stocks – NetEase NTES, MSCI MSCI, and Dell Technologies DELL – all pay their shareholders. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions.
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Three technology stocks – NetEase NTES, MSCI MSCI, and Dell Technologies DELL – all pay their shareholders. Dell Technologies Dell Technologies, a current Zacks Rank #1 (Strong Buy), provides information technology solutions. Image Source: Zacks Investment Research DELL shares currently yield 2.1% annually paired with a sustainable payout ratio sitting at 24% of the company’s earnings.
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2023-09-14 00:00:00 UTC
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Bull Of The Day: Dell Technologies (DELL)
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DELL
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https://www.nasdaq.com/articles/bull-of-the-day%3A-dell-technologies-dell
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nan
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Dell Technologies (DELL) is a Zacks Rank #1 (Buy) and it sports an A for Value and an C for Growth. This stock just reported a solid quarter and the stock is soaring as a result. Let’s explore more about this company in this Bull of The Day article.
Description
Dell Technologies Inc. is a provider of information technology solutions. The company's operating segment consists of Client Solutions, Enterprise Solutions Group and Dell Software Group. Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products, notebooks as well as services and third-party software and peripherals of Client Solutions hardware. ESG segment includes servers, networking and storage as well as services and third-party software and peripherals of ESG hardware. DSG segment includes systems management, security software solutions and information management software offerings. Dell Technologies Inc. is headquartered in Round Rock, Texas.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
For Dell Technologies, I see four straight beats of the Zacks Consensus Estimate over the last calendar year. That is great to see, but by itself that is not enough to make the company a Zacks Rank #1 (Strong Buy).
Earnings Estimates Revisions
The Zacks Rank tells us which stocks are seeing earnings estimates move higher.
Over the last 60 days, earnings estimates have increased for DELL.
The current quarter has moved from $1.37 to $1.47.
Next quarter has bumped higher to $1.78 from $1.75.
The full year numbers are more important… and they are moving higher.
This year has moved from $5.55 to $6.30
Next year is now at $6.83 up from $6.15
Valuation
The valuation is looking good here at 11x forward earnings. The topline contracted 13% in the most recent quarter and is expected to show a contraction of 16% for the full year, but the company should resume growth next year as estimates are calling for a 4.75% increase in sales. The book value is negative right now, and thanks to that the market is not giving the company a multiple of more than 1x for the price to sales. Margins are hovering in the 4.6% to 4.8% range, so a move higher in margins would have a big impact on the bottom line.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dell Technologies Inc. (DELL) : 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 Dell Technologies, I see four straight beats of the Zacks Consensus Estimate over the last calendar year. Dell Technologies (DELL) is a Zacks Rank #1 (Buy) and it sports an A for Value and an C for Growth. Description Dell Technologies Inc. is a provider of information technology solutions.
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The company's operating segment consists of Client Solutions, Enterprise Solutions Group and Dell Software Group. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies (DELL) is a Zacks Rank #1 (Buy) and it sports an A for Value and an C for Growth.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies (DELL) is a Zacks Rank #1 (Buy) and it sports an A for Value and an C for Growth. Description Dell Technologies Inc. is a provider of information technology solutions.
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For Dell Technologies, I see four straight beats of the Zacks Consensus Estimate over the last calendar year. Dell Technologies (DELL) is a Zacks Rank #1 (Buy) and it sports an A for Value and an C for Growth. Description Dell Technologies Inc. is a provider of information technology solutions.
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725357.0
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2023-09-14 00:00:00 UTC
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Pre-Market Most Active for Sep 14, 2023 : AMC, SQQQ, TQQQ, PCG, DELL, TSLA, AAPL, NIO, NVDA, TSLL, PFE, PLTR
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DELL
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https://www.nasdaq.com/articles/pre-market-most-active-for-sep-14-2023-%3A-amc-sqqq-tqqq-pcg-dell-tsla-aapl-nio-nvda-tsll
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The NASDAQ 100 Pre-Market Indicator is up 43.32 to 15,391.85. The total Pre-Market volume is currently 28,050,138 shares traded.
The following are the most active stocks for the pre-market session:
AMC Entertainment Holdings, Inc. (AMC) is +0.43 at $8.67, with 3,433,338 shares traded. AMC's current last sale is 50.26% of the target price of $17.25.
ProShares UltraPro Short QQQ (SQQQ) is -0.2492 at $18.05, with 3,054,626 shares traded. This represents a 10.2% increase from its 52 Week Low.
ProShares UltraPro QQQ (TQQQ) is +0.58 at $41.52, with 1,844,957 shares traded. This represents a 157.89% increase from its 52 Week Low.
Pacific Gas & Electric Co. (PCG) is +0.03 at $17.10, with 1,299,789 shares traded. As reported by Zacks, the current mean recommendation for PCG is in the "buy range".
Dell Technologies Inc. (DELL) is +0.29 at $70.74, with 1,139,595 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2023. The consensus EPS forecast is $1.23. As reported by Zacks, the current mean recommendation for DELL is in the "buy range".
Tesla, Inc. (TSLA) is +1.66 at $272.96, with 1,006,968 shares traded. TSLA's current last sale is 103% of the target price of $265.
Apple Inc. (AAPL) is +0.51 at $174.72, with 694,202 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
NIO Inc. (NIO) is +0.13 at $10.20, with 642,574 shares traded. NIO's current last sale is 80% of the target price of $12.75.
NVIDIA Corporation (NVDA) is +5.03 at $459.88, with 632,366 shares traded. Over the last four weeks they have had 12 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2023. The consensus EPS forecast is $2.99. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Direxion Daily TSLA Bull 1.5X Shares (TSLL) is +0.14 at $17.81, with 628,111 shares traded. This represents a 283.84% increase from its 52 Week Low.
Pfizer, Inc. (PFE) is +0.07 at $34.15, with 627,614 shares traded. PFE's current last sale is 76.74% of the target price of $44.5.
Palantir Technologies Inc. (PLTR) is +0.13 at $15.73, with 263,948 shares traded. PLTR's current last sale is 125.84% of the target price of $12.5.
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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Dell Technologies Inc. (DELL) is +0.29 at $70.74, with 1,139,595 shares traded. As reported by Zacks, the current mean recommendation for DELL is in the "buy range". ProShares UltraPro Short QQQ (SQQQ) is -0.2492 at $18.05, with 3,054,626 shares traded.
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Dell Technologies Inc. (DELL) is +0.29 at $70.74, with 1,139,595 shares traded. As reported by Zacks, the current mean recommendation for DELL is in the "buy range". As reported by Zacks, the current mean recommendation for PCG is in the "buy range".
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Dell Technologies Inc. (DELL) is +0.29 at $70.74, with 1,139,595 shares traded. As reported by Zacks, the current mean recommendation for DELL is in the "buy range". The total Pre-Market volume is currently 28,050,138 shares traded.
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Dell Technologies Inc. (DELL) is +0.29 at $70.74, with 1,139,595 shares traded. As reported by Zacks, the current mean recommendation for DELL is in the "buy range". The NASDAQ 100 Pre-Market Indicator is up 43.32 to 15,391.85.
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725358.0
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2023-09-13 00:00:00 UTC
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Apple (AAPL) Unveils New iPhone Models at September Event
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DELL
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https://www.nasdaq.com/articles/apple-aapl-unveils-new-iphone-models-at-september-event
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nan
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Apple AAPL unveiled four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12.
Both iPhone 15 (6.1-inch) and iPhone 15 Plus (6.7-inch) are powered by the A16 Bionic chip. Both iPhone 15 Pro and iPhone 15 Pro Max are powered by A17 Pro, the industry’s first 3-nanometer chip.
A16 Bionic chip features a six-core CPU, which is faster than the previous generation due to four high-efficiency cores and consumes less power (20% less).
The five-core GPU has 50% more memory bandwidth that supports smooth graphics for streaming videos and playing games. The new 16-core Neural Engine is capable of performing nearly 17 trillion operations per second.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Apple introduced a USB-C connector that can be used to charge iPhone, Mac, iPad and the new AirPods Pro (2nd generation). Users can also charge AirPods and Apple Watch directly from iPhones with the USB-C connector.
Apple updated the iPhone’s cameras. The main camera with 48 MP enables super-high-resolution photos while a new 2x Telephoto option gives users a total of three optical zoom levels.
The latest iPhones feature the next generation of portraits, which makes it easier for users to capture portraits with in-depth detail with improved low-light performance.
Apple has launched the iPhone 15 and iPhone 15 Plus in five new colors, including pink, yellow, green, blue and black. iPhone 15 Pro and iPhone 15 Pro Max will be available in four colors, black titanium, white titanium, blue titanium and natural titanium. All of these models will be available beginning Sep 22.
Will New iPhones Boost Apple’s Share Price?
Apple shares have gained 35.7% year to date, underperforming the Zacks Computer & Technology sector’s return of 37.6%.
The near-term outlook is not enthusiastic, given the headwinds. Apple did not provide revenue guidance for the fourth quarter of fiscal 2023. It expects iPhone and Services’ year-over-year growth to accelerate in the current quarter compared with the June quarter.
Apple is benefiting from increasing customer engagement in the services segment. It currently has more than one billion paid subscribers across its Services portfolio. The expanding content portfolio of Apple TV+ and Apple Arcade is helping drive subscriber growth.
However, revenues for both Mac and iPad are expected to decline double digits on a year-over-year basis in the fiscal fourth quarter due to difficult comparisons.
Zacks Rank & Stocks to Consider
Apple currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA, Dell and Asure Software shares have gained 207%, 75.9% and 22.8% in the year-to-date period, respectively.
The long-term earnings growth rate of NVIDIA, Dell and Asure Software is pegged at 13.5%, 12% and 27%, respectively.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Asure Software Inc (ASUR) : 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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Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present. NVIDIA, Dell and Asure Software shares have gained 207%, 75.9% and 22.8% in the year-to-date period, respectively. The long-term earnings growth rate of NVIDIA, Dell and Asure Software is pegged at 13.5%, 12% and 27%, respectively.
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Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. NVIDIA, Dell and Asure Software shares have gained 207%, 75.9% and 22.8% in the year-to-date period, respectively.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present. NVIDIA, Dell and Asure Software shares have gained 207%, 75.9% and 22.8% in the year-to-date period, respectively.
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Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present. NVIDIA, Dell and Asure Software shares have gained 207%, 75.9% and 22.8% in the year-to-date period, respectively. The long-term earnings growth rate of NVIDIA, Dell and Asure Software is pegged at 13.5%, 12% and 27%, respectively.
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2023-09-12 00:00:00 UTC
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3 Highly Ranked Stocks That Could Keep Rising
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DELL
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https://www.nasdaq.com/articles/3-highly-ranked-stocks-that-could-keep-rising
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Among the Zacks Rank #1 (Strong Buy) list several recently added stocks are poised to keep ripping higher.
With representation from a variety of sectors, here are three of these top-rated stocks to consider right now.
Dell Technologies DELL: One of the hottest tech companies of the year has been Dell Technologies, with DELL being added to the Zacks Rank #1 (Strong Buy) list this week.
Dell’s stock has now soared +78% this year and has continued to flirt with new 52-week highs after reporting stellar Q2 results in late August.
Driven by growth across its Client Solutions Group (CSG) and Solutions Group (SG), Q2 sales of $22.93 billion beat estimates by 10% and rose 13% year over year. Furthermore, Q2 earnings of $1.74 per share was up 3% YoY and crushed expectations by 54% with estimates at $1.13 a share.
Through a partnership with Nvidia NVDA, Dell has aimed to boost its generative AI capabilities going forward. The Nvidia partnership will certainly garnish Dell’s stock a lot of attention and rightfully so as earnings estimates are nicely up over the last 60 days which is an indication that DELL shares could keep ripping.
Image Source: Zacks Investment Research
Installed Building Products IBP: Among the Zacks Construction sector, Installed Building Products’ stock was added to the strong buy list earlier this month.
Benefiting from what has been one of the strongest areas in the economy, Installed Building Products' operations are crucial to construction-related activities as the second largest residential insulation installer in the U.S.
Shares of IBP are up +59% in 2023 with steady top and bottom line growth expected. Sales are projected to be up 4% this year and rise another 5% in fiscal 2024 to $2.94 billion. Annual earnings are expected to rise 5% in FY23 and edge up another 4% in FY24 at $9.77 per share. More importantly, in the last two months, FY23 and FY24 earnings estimates are up 8% and 6% respectively.
Image Source: Zacks Investment Research
American Eagle Outfitters AEO: Lastly, American Eagle Outfitters was added to the Zacks Rank #1 (Strong Buy) list last week and is a retail stock that could have more upside.
This is largely indicated in the company’s attractive P/E valuation with EPS estimates soaring after better than expected Q2 earnings last Wednesday. The specialty apparel retailer posted Q2 earnings of $0.25 per share which easily surpassed estimates of $0.15 a share. This also skyrocketed 525% from Q2 EPS of $0.04 a share in the prior year quarter.
American Eagle's stock is up a respectable +11% YTD and the rising earnings estimates are starting to confirm AEO shares look cheap at around $15. To that point, American Eagle's current FY24 EPS estimates have soared 20% over the last 60 days with FY25 estimates climbing 16%.
Trading at 13.6X forward earnings, American Eagle's FY24 earnings are now projected to climb 25% to $1.21 a share compared to EPS of $0.97 per share a year ago. Fiscal 2025 earnings are expected to be virtually flat but American Eagle's stock still trades at an attractive discount to the Zacks Retail-Apparel and Shoes Markets’ 17.1X and the S&P 500’s 20.9X.
Image Source: Zacks Investment Research
Bottom Line
Rising earnings estimates have kept Dell Technologies and Installed Building Products' stock climbing this year and American Eagle has joined the club. Now looks like a great time to buy these highly-ranked stocks as the trend in earnings estimate revisions continues to point to even more upside.
Free Report: Top EV Battery Stocks to Buy Now
Just-released report reveals 5 stocks to profit as millions of EV batteries are made. Elon Musk tweeted that lithium prices have gone to "insane levels," and they're likely to keep climbing. As a result, a handful of lithium battery stocks are set to skyrocket. Access this report to discover which battery stocks to buy and which to avoid.
Download free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Installed Building Products, Inc. (IBP) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Image Source: Zacks Investment Research Bottom Line Rising earnings estimates have kept Dell Technologies and Installed Building Products' stock climbing this year and American Eagle has joined the club. Dell Technologies DELL: One of the hottest tech companies of the year has been Dell Technologies, with DELL being added to the Zacks Rank #1 (Strong Buy) list this week. Dell’s stock has now soared +78% this year and has continued to flirt with new 52-week highs after reporting stellar Q2 results in late August.
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Image Source: Zacks Investment Research Bottom Line Rising earnings estimates have kept Dell Technologies and Installed Building Products' stock climbing this year and American Eagle has joined the club. Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Installed Building Products, Inc. (IBP) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL: One of the hottest tech companies of the year has been Dell Technologies, with DELL being added to the Zacks Rank #1 (Strong Buy) list this week.
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Image Source: Zacks Investment Research Bottom Line Rising earnings estimates have kept Dell Technologies and Installed Building Products' stock climbing this year and American Eagle has joined the club. Click to get this free report American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Installed Building Products, Inc. (IBP) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies DELL: One of the hottest tech companies of the year has been Dell Technologies, with DELL being added to the Zacks Rank #1 (Strong Buy) list this week.
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Dell Technologies DELL: One of the hottest tech companies of the year has been Dell Technologies, with DELL being added to the Zacks Rank #1 (Strong Buy) list this week. Dell’s stock has now soared +78% this year and has continued to flirt with new 52-week highs after reporting stellar Q2 results in late August. Through a partnership with Nvidia NVDA, Dell has aimed to boost its generative AI capabilities going forward.
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725360.0
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2023-09-12 00:00:00 UTC
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4 Stocks Set to Profit From the New China Apple iPhone Ban
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DELL
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https://www.nasdaq.com/articles/4-stocks-set-to-profit-from-the-new-china-apple-iphone-ban
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Last week, Apple (NASDAQ:AAPL) encountered a notable disturbance following reports of a ban imposed on Chinese government officials using iPhones. China’s Apple iPhone ban has sent shockwaves across the financial realm, leading to a consecutive two-day decline in Apple’s stock value. The consequences of this situation hold significant weight, especially given the country’s pivotal role as one of Apple’s primary markets, contributing substantially to its earnings and serving as the central hub for iPhone manufacturing.
The stock of Apple has undergone a successive decline over two days in reaction to reports concerning the proscription of iPhones for Chinese government personnel. This descent has resulted in a nearly $200 billion drop in the company’s market capitalization, with shares plummeting approximately 6% to $175. This downturn sparks concerns regarding Apple’s financial standing and elicits inquiries into the broader ramifications for Western enterprises conducting business in China. Amidst fears of China’s Apple iPhone ban, investors might look for alternatives to hedge their risks.
China Apple iPhone Ban Winners: Dell Technologies (DELL)
Source: Ken Wolter / Shutterstock.com
Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. In its second-quarter fiscal 2024 earnings report, the company reported a 13% decline in revenue compared to the previous year.
However, what sets Dell apart is its strong performance in the artificial intelligence (AI) server business, driven by generative AI services powered by Nvidia (NASDAQ:NVDA) graphics processing units (GPUs).
Dell’s robust performance in the AI server segment is a significant highlight. Generative AI services accounted for 20% of total server revenue in Q2, translating to approximately $860 million in AI sales. This performance was driven by data center storage devices and servers powered by Nvidia’s high-end GPUs for generative AI.
Despite the revenue decline, Dell managed to limit the fall in earnings per share (EPS) to just 7% year over year in Q2. On an adjusted basis, excluding certain expenses, EPS increased by 4% year over year. This showcases Dell’s ability to maintain profitability even in challenging market conditions.
Dell’s stock is trading at a reasonable valuation, with a 12-month price-to-earnings ratio of 26 and a yearly free cash flow multiple of under 10. This makes Dell an attractive option for value-oriented investors.
Dell offers a dividend yield of nearly 2.2% and actively engages in stock buyback programs, demonstrating its commitment to delivering value to shareholders. Importantly, it’s noteworthy that Dell is not affected by the China Apple iPhone ban.
Microsoft (MSFT)
Source: Ascannio / Shutterstock.com
Microsoft (NASDAQ:MSFT) leads in AI, setting itself apart from rivals like Apple. Microsoft’s AI journey thrives on strategic alliances, forward-looking investments, and a holistic approach.
The company’s dedication to AI innovation is underscored by its $10 billion investment in OpenAI, known for pioneering tech like ChatGPT.
Microsoft 365 Copilot, a versatile AI productivity tool at $30 per user per month, stands as a milestone. It boosts productivity across Microsoft 365 apps, projecting $14 billion in revenue by Macquarie Equity Research with a 40% attach rate.
Microsoft’s cloud infrastructure, Azure, is a juggernaut, contributing over 50% of total revenue. Azure AI is pivotal in AI-first workloads and partnerships with industry leaders like Meta, reflecting surging AI demand.
Microsoft’s Office 365 suite, featuring Office to Outlook, remains resilient amid challenges. Innovations like Microsoft 365 Copilot and potential upselling promise substantial growth.
CEO Satya Nadella expects to double revenue to $500 billion by 2030, emphasizing Microsoft Cloud and Microsoft Plus.
Microsoft focuses on software, cloud services, and enterprise solutions, which are less susceptible to bans on consumer hardware like iPhones. Microsoft’s revenue in China primarily comes from its cloud computing platform, Azure, and software offerings like Windows and Office, which were not directly affected by the China Apple iPhone ban.
Valuing Microsoft at a 35x 2024-25 EV/FCF multiple, factoring in Microsoft 365 Copilot and AI-driven innovations, sets a target price range of $394.74 (Base case) to $451.08 (Bull case), signaling significant upside potential.
Microsoft’s steadfast AI commitment, diverse portfolio, and visionary leadership make it an enticing investment opportunity with promising growth prospects. The China Apple iPhone ban has no impact on Microsoft’s AI endeavors.
Nvidia (NVDA)
Source: Evolf / Shutterstock.com
In 2023, Nvidia stock has shown consistent growth, with buyer accumulation, despite encountering resistance and experiencing a false breakout and retracement.
Nvidia’s Q2 2023 financials are robust, reporting revenue of $13.5 billion and a net income of $6.19 billion. Notably, the estimated EPS for Q2 2023 was 2.08, outperformed by the reported EPS of 2.70, yielding a positive surprise of 29.69%. Furthermore, the forecasted EPS for the next quarter stands at a positive 3.31.
NVDA stock seems to be poised for significant growth, supported by enthusiastic buyers striving to maintain current levels. Although there are signs of weakening in the share price’s bullish momentum, NVDA stock remains in an uptrend above key moving averages on daily charts.
The stock has rebounded after a pullback and boasts a market capitalization of $1.13 trillion. Analysts have issued a strong buy rating with a yearly target price of $1,100.
The stock price of NVDA has exhibited a bullish trend throughout the whole year, reaching a high of $456 by August 31, 2023, from a low of $109. The current price has the potential to reach further heights, targeting a resistance level of $500, though a break below the $470 support level could lead to a decline below $450. Technical analysis suggests bullish sentiment, with the RSI at around 60.
Nvidia’s business in China was not significantly affected by the China Apple iPhone ban. The ban did not directly impact the company’s ability to supply GPUs or AI technologies to its regional customers.
Meta Platforms (META)
Source: Ascannio / Shutterstock.com
In 2022, Meta Platforms (NASDAQ:META) had a tumultuous year, with its stock price ranging from a peak of about $380 per share to a low of $88. However, it made a remarkable comeback in early 2023, now trading at around $300 per share.
Investors who held onto META through these ups and downs have seen significant returns. Even after the August setback, analysts see potential in Meta’s cost-cutting efforts, leading to improved profit margins. The China Apple iPhone ban affected Apple but not Meta Platforms due to the specific targeting of Apple’s iPhone sales and products in China and the differences in their core businesses.
Meta’s conservative approach to debt sets it apart in the tech industry, with only 21.6% of its capitalization tied to debt. Meta’s robust free cash flow exceeds its total debt, a rarity in the corporate world.
Meta Platforms recognizes the importance of significant investments in specific areas to sustain revenue growth. Q2 2023 saw an 11% year-over-year revenue increase, but attention now shifts to late 2023 and 2024 revenue drivers.
As Meta shifts focus to Threads and monetizes Instagram/WhatsApp, the metaverse project may lose prominence. However, Zacks analysts anticipate double-digit earnings per share growth, approximately 26.7%, over the next year, potentially driving stock prices higher.
Consider the potential for reallocating metaverse spending, potentially restoring Meta’s historical return on invested capital benchmarks. This could lead to more substantial share buybacks and higher analyst targets driven by enhanced monetization efforts and ROIC. Savvy investors should take notice.
On the date of publication, Julia Magas 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.
Julia Magas is a writer who covers the latest trends in finance and technology. Her work is published in a number of financial media outlets such as Nasdaq, Cointelegraph, Investing, SeekingAlpha, FXEmpire, and Beincrypto. She primarily covers cryptocurrency and blockchain technology with a focus on market performance, innovations and trends.
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The post 4 Stocks Set to Profit From the New China Apple iPhone Ban 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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China Apple iPhone Ban Winners: Dell Technologies (DELL) Source: Ken Wolter / Shutterstock.com Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. However, what sets Dell apart is its strong performance in the artificial intelligence (AI) server business, driven by generative AI services powered by Nvidia (NASDAQ:NVDA) graphics processing units (GPUs). Dell’s robust performance in the AI server segment is a significant highlight.
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China Apple iPhone Ban Winners: Dell Technologies (DELL) Source: Ken Wolter / Shutterstock.com Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. However, what sets Dell apart is its strong performance in the artificial intelligence (AI) server business, driven by generative AI services powered by Nvidia (NASDAQ:NVDA) graphics processing units (GPUs). Dell’s robust performance in the AI server segment is a significant highlight.
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China Apple iPhone Ban Winners: Dell Technologies (DELL) Source: Ken Wolter / Shutterstock.com Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. However, what sets Dell apart is its strong performance in the artificial intelligence (AI) server business, driven by generative AI services powered by Nvidia (NASDAQ:NVDA) graphics processing units (GPUs). Dell’s robust performance in the AI server segment is a significant highlight.
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China Apple iPhone Ban Winners: Dell Technologies (DELL) Source: Ken Wolter / Shutterstock.com Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. However, what sets Dell apart is its strong performance in the artificial intelligence (AI) server business, driven by generative AI services powered by Nvidia (NASDAQ:NVDA) graphics processing units (GPUs). Dell’s robust performance in the AI server segment is a significant highlight.
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daffbca5-b90f-4cba-b387-b1262a73d7e8
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725361.0
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2023-09-12 00:00:00 UTC
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Does Dell Technologies Blowout Quarter Mean a New Demand Cycle?
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DELL
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https://www.nasdaq.com/articles/does-dell-technologies-blowout-quarter-mean-a-new-demand-cycle
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nan
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nan
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Hardware and infrastructure solutions provider Dell Technologies Inc. (NASDAQ: DELL) has proven to be a large benefactor of the artificial intelligence (AI) wave. The company reported a large EPS beat by 60 cents for its fiscal Q2 2024, despite revenue falling 13.2%. The company raised its estimates and laid out high expectations for the demand cycle driven by the explosion in AI applications.
It also caused shares of spin-off virtualization provider VMWare Inc. (NYSE: VMW) and rival computer manufacturer Hewlett Packard Enterprise Co. (NYSE: HPE) to also rise.
Surprise EPS Beat
On Aug 31, 2023, Dell released its fiscal Q2 2024 results for the quarter ending July 2023. The Company reported earnings-per-share (EPS) of $1.74 excluding non-recurring items versus consensus analyst estimates for a profit of $1.14, a 60 cent per share beat. Revenues fell 13.2% year-over-year (YoY) to $22.93 billion, beating consensus analyst estimates for $20.86 billion by $2.09 billion.
Revenues By Segment
Dell’s business is split between two segments.
The Infrastructure Solutions Group (ISG) offers data center products and services, edge computing and the cloud. It sells servers, storage, applications and software in addition to consulting and support. Revenues fell 11% YoY but grew 11% sequentially to $8.5 billion.
The company saw strength in its servers and networking sales coming in at $4.3 billion, driven by the demand in AI-optimized servers. Storage revenue saw sales of $4.2 billion driven by robust demand for its top mid-range storage array PowerStore and its software-defined storage PowerFlex. Operating income was $1 billion.
The Client Solutions Group (CSG) sells hardware like desktops, notebooks, tablets and peripherals. It also offers consulting, implementation and support services. Revenues were down 16.9% YoY to $12.9 billion but rose 8% sequentially. Commercial client revenues were $10.6 billion, driven by growth in workstations enabling enterprises to run complex AI workloads locally. Consumer revenues were $2.4 billion. Operating income was $969 million.
CEO Insights
Dell Technologies CEO Jeff Clark pointed out that the demand environment improved must faster than originally anticipated as input costs fell. He pointed out that while revenues were down YoY, a better demand environment combined with strong execution resulted in extraordinary results for the quarter.
He especially expressed how encouraged he was seeing the macro environment improving in the second half of the year. The underlying demand improvement was better than anticipated in the U.S. and EMEA. Growth was seen in government and small medium-sized business (SMB) as transactional demand grew. It largest global customers still showed restraint with spending.
Powerful AI Tailwinds
AI was a strong tailwind and will continue to be for all things data and compute. Dell had unprecedented strength from its PowerEdge XE9680 server, its fastest ramping new solution in history. The PowerEdgeXE9680 is a GPU-enabled server and key element to its Dell Generative AI Solutions engineered to “…speed the deployment of a modular, secure and scalable platform for generative AI in the enterprise.” Customers are using their own data and business to train Generational AI models with focus on 4 Gen AI use cases. Clark proclaimed, “… we have the world's broadest Gen AI infrastructure portfolio that spans from the cloud to the client.”
Nearly $2 Billion Backlog for PowerEdge XE 9680 Servers for AI
CEO Clark commented, “From a solutions perspective, we saw significant strength in AI-enabled servers… Workstation demand grew and was another bright spot that will continue to benefit from the rise of AI developers and data scientists can now fine-tune Gen AI models locally before deploying them at scale.” AI service increased 20% of its servers order revenue. Its PowerEdge XE9680 server has nearly $2 billion in backlog orders driving its sales pipeline “substantially higher”.
Dell Technologies analyst ratings and price targets are at MarketBeat.
Weekly Cup and Handle Breakout
DELL triggered a cup and handle breakout pattern on its fiscal Q2 2024 earnings release. The cup lip line formed after peaking at $58.72 in February 2022 as shares fell to a low of $31.82 by October 2022. As the weekly relative strength index (RSI) oscillator continued to climb up through the 50-band, DELL triggered a weekly market structure low (MSL) breakout through the $38.87 trigger.
Shares managed to steadily grind higher to test the lip line at $58.72 in August 2023 before a shallow pullback to $53.62. Shares surged through the cup lip line on the earnings release, sending shares to new all-time highs at $70.89. The RSI is in deep overbought territory at the 82-band. Pullback supports are at $65.49, $62.54, $58.72 and $55.53.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Hardware and infrastructure solutions provider Dell Technologies Inc. (NASDAQ: DELL) has proven to be a large benefactor of the artificial intelligence (AI) wave. Surprise EPS Beat On Aug 31, 2023, Dell released its fiscal Q2 2024 results for the quarter ending July 2023. Revenues By Segment Dell’s business is split between two segments.
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Hardware and infrastructure solutions provider Dell Technologies Inc. (NASDAQ: DELL) has proven to be a large benefactor of the artificial intelligence (AI) wave. Weekly Cup and Handle Breakout DELL triggered a cup and handle breakout pattern on its fiscal Q2 2024 earnings release. Surprise EPS Beat On Aug 31, 2023, Dell released its fiscal Q2 2024 results for the quarter ending July 2023.
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The PowerEdgeXE9680 is a GPU-enabled server and key element to its Dell Generative AI Solutions engineered to “…speed the deployment of a modular, secure and scalable platform for generative AI in the enterprise.” Customers are using their own data and business to train Generational AI models with focus on 4 Gen AI use cases. Hardware and infrastructure solutions provider Dell Technologies Inc. (NASDAQ: DELL) has proven to be a large benefactor of the artificial intelligence (AI) wave. Surprise EPS Beat On Aug 31, 2023, Dell released its fiscal Q2 2024 results for the quarter ending July 2023.
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Hardware and infrastructure solutions provider Dell Technologies Inc. (NASDAQ: DELL) has proven to be a large benefactor of the artificial intelligence (AI) wave. Surprise EPS Beat On Aug 31, 2023, Dell released its fiscal Q2 2024 results for the quarter ending July 2023. Revenues By Segment Dell’s business is split between two segments.
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df214846-4303-4bf7-967d-d9d295803455
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725362.0
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2023-09-12 00:00:00 UTC
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2 Leading AI Stocks Going Opposite Ways
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DELL
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https://www.nasdaq.com/articles/2-leading-ai-stocks-going-opposite-ways
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nan
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nan
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Artificial intelligence (AI) has driven the new enterprise demand cycle for servers, services and applications. Many companies have shown the reality of material demand surge driving revenues and estimates, like leading AI chip maker Nvidia Co. (NASDAQ: NVDA), which can't keep their AI chips in stock to meet the relentless demand or Dell Technologies Inc. (NYSE: DELL) with a $2 billion backlog for its AI servers. These AI players set the bar high every quarter for AI stocks. Every quarter, some make the leap, some stumble over, while some just can't reach the bar and live up to the hype. Here are two AI stocks that fall in the latter two outcomes.
UiPath Inc. (NASDAQ: PATH)
UiPath is the leader in AI-powered robotic process automation (RPA) and business process automation (BPA). It enables enterprises to automate mundane, mind-numbing and repetitive tasks using its programmable AI-powered software "robots." Tasks include claims processing, data entry, bookkeeping, customer service, compliance, risk management and fraud detection. Its AI-powered platform also enables task and process mining, which relentlessly searches for ways to optimize business processes to improve efficiency and boost productivity. UiPath continues to grow its client base as more companies migrate towards automation, which can be more cost-effective, accurate and productive. Customers with over $1 million ARR grew to 254, up from 190 in the year-ago period, and customers with $100,000 or more ARR grew to 1,990 from 1,660 in the year-ago period. The UiPath community has over 2.5 million worldwide users.
Steady As She Grows
On September 6, 2023, UiPath released its fiscal Q2 2024 earnings report for the quarter ending in July 2023. The company reported earnings-per-share (EPS) of 9 cents, excluding non-recurring items, versus consensus analyst estimates of 4 cents, beating by $0.05. Revenues grew 18.6% year-over-year (YoY) to $287.31 million, beating analyst estimates for $281.48 million with an annual renewal run rate (ARR) growing 25% YoY of $1.308 billion. Net new ARR was $59 million. Dollar-based net retention was 121%. GAAP gross margin was 83%. GAAP operating loss was $77.6 million. Non-GAAP operating income was $30.1 million. UiPath closed the quarter with $1.8 billion in cash, cash equivalents and marketable securities. The company authorized a $500 million stock buyback.
Mixed Guidance
Similar to its prior quarter, the company lowered estimates for the next quarter but raised for the full year. UiPath lowered guidance for Q3 fiscal 2024 revenues between $313 million to $318 million versus $318.45 million consensus analyst estimates. The company expects ARR from $1.359 billion to $1.364 billion as of calendar year October 31, 2023. Non-GAAP operating income is expected to be around $32 million.
UiPath raised fiscal full-year 2024 revenues between $1.273 billion and $1.278 billion versus $1.27 billion consensus estimates. ARR is expected between $1.432 billion to $1.437 billion as of January 1, 2024. Non-GAAP operating income is expected to be around $188 million.
C3.ai analyst ratings and price targets can be found on MarketBeat.
Weekly Ascending Triangle Pattern
The weekly candlestick chart for PATH illustrates a symmetrical triangle pattern. This pattern is comprised of a descending triangle indicating lower highs on bounces and an ascending trendline indicating higher lows that eventually meet at the apex point. A breakout through the descending trendline or a breakdown through the ascending trendline usually triggers before reaching the apex. The Q2 2024 earnings results spiked PATH to the descending triangle as the weekly relative strength index (RSI) rally to the 60-band triggered the weekly market structure low (MSL) breakout through the $16.35 trigger. Pullback support levels are $17.46, $16.35 weekly MSL trigger, $15.60 and $14.12.
C3.ai Inc. (NASDAQ: AI)
Perhaps the stock symbol AI may have set too high of a bar for C3.ai, but it also garnered a large portion of the spotlight during the AI boom, driving shares higher in the hopes of big results. Hope is the keyword. C3.ai has yet to live up to the hype as its results slightly improved but fell extremely short of the high expectations from investors. The company backtracked earlier innuendos of profitability coming by the end of the year. Instead, the company will invest more in the short-term for long-term gains. The underwhelming growth can largely be attributed to its migration to a consumption model designed to make onboarding cheaper for new clients as a pay-as-you-use model, which should grow revenues in time.
Where's the Beef?
Old timers remember The Wendy's Co. (NYSE: WEN) comical commercials featuring a stumpy grandmother played by the late Clara Peller gruffly asking, "Where's the Beef?" after receiving a competitor's dinky burger. That's the sentiment felt by investors and analysts after seeing C3.ai's fiscal Q1 2024 earnings report on September 6, 2023.
C3.ai reported an earnings-per-share (EPS) loss of 9 cents, excluding non-recurring items, versus consensus analyst estimates of 17 cents. While they beat estimates by $0.08, it's like saying you only lost a toe instead of the whole foot in a car accident. Revenues rose 10.8% to $72.36 million versus $71.56 million, a whopping $800,000 beat, further echoing the "Where's the beef?" sentiment.
Ho Hum Guidance
Forward guidance was in line with fiscal Q2 2024 revenues expected between $72 million to $76.5 million compared to $73.84 million analyst estimates. The company reaffirmed its full-year fiscal 2024 revenues of $295 million to $320 million versus $308.24 million consensus analyst estimates.
Underwhelming
The company did close or expand agreements with some well-recognized names, including Tyson Foods Inc. (NYSE: TSN), the U.S. Department of Defense, Cargill, and Nucor Inc. (NYSE: NUE), but guidance underwhelms the reality of these contracts. C3.ai's esteemed CEO, Tom Seibel, commented, "It is difficult to describe the scale of the increasing interest we are seeing globally in enterprise AI adoption. We are experiencing strong traction with our enterprise AI applications, especially C3 Generative AI."
The C3.AI Hype Train Losing Credibility
Seibel continued, "The market response to our Generative AI offerings is staggering. C3 Generative AI provides fine-tuned tailored Generative AI solutions that address the crippling problems that prevent widespread industry adoption of LLMs…" He backtracked, "The market opportunity is immediate, and we intend to seize it. While we still expect to be cash positive in Q4 FY 24 and FY 25, we will be investing in our Generative AI solutions and, at this time, do not expect to be non-GAAP profitable in Q4 FY 24." Seibel claims that C3.ai was "well ahead of its time" in predicting the scale of opportunity in enterprise AI and "has prepared 14 years" for this opportunity. The market reacted with a nearly 20% haircut in the post-market.
C3.ai analyst ratings and price targets can be found on MarketBeat.
Weekly Cup and Handle Pattern
The 34% short interest in AI makes it extremely susceptible to a short squeeze on any news or rumor. The weekly candlestick chart illustrates a large cup and potential handle pattern. The cup lip line started forming at $48.87 in November 2021. AI fell to a low of $10.16 by December 2022, and it rallied to the cup lip line retest in June 2023 to complete the cup formation. The fiscal Q1 2024 earnings reaction caused shares to stumble to $25.50 to form the handle. The RSI is still slipping down through the 50-band. Pullback support levels are $23.58, $20.63 weekly MSL trigger, $16.79 and $15.07.
The views and 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 companies have shown the reality of material demand surge driving revenues and estimates, like leading AI chip maker Nvidia Co. (NASDAQ: NVDA), which can't keep their AI chips in stock to meet the relentless demand or Dell Technologies Inc. (NYSE: DELL) with a $2 billion backlog for its AI servers. Tasks include claims processing, data entry, bookkeeping, customer service, compliance, risk management and fraud detection. Old timers remember The Wendy's Co. (NYSE: WEN) comical commercials featuring a stumpy grandmother played by the late Clara Peller gruffly asking, "Where's the Beef?"
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Many companies have shown the reality of material demand surge driving revenues and estimates, like leading AI chip maker Nvidia Co. (NASDAQ: NVDA), which can't keep their AI chips in stock to meet the relentless demand or Dell Technologies Inc. (NYSE: DELL) with a $2 billion backlog for its AI servers. The company reported earnings-per-share (EPS) of 9 cents, excluding non-recurring items, versus consensus analyst estimates of 4 cents, beating by $0.05. C3.ai reported an earnings-per-share (EPS) loss of 9 cents, excluding non-recurring items, versus consensus analyst estimates of 17 cents.
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Many companies have shown the reality of material demand surge driving revenues and estimates, like leading AI chip maker Nvidia Co. (NASDAQ: NVDA), which can't keep their AI chips in stock to meet the relentless demand or Dell Technologies Inc. (NYSE: DELL) with a $2 billion backlog for its AI servers. UiPath lowered guidance for Q3 fiscal 2024 revenues between $313 million to $318 million versus $318.45 million consensus analyst estimates. The company reaffirmed its full-year fiscal 2024 revenues of $295 million to $320 million versus $308.24 million consensus analyst estimates.
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Many companies have shown the reality of material demand surge driving revenues and estimates, like leading AI chip maker Nvidia Co. (NASDAQ: NVDA), which can't keep their AI chips in stock to meet the relentless demand or Dell Technologies Inc. (NYSE: DELL) with a $2 billion backlog for its AI servers. UiPath lowered guidance for Q3 fiscal 2024 revenues between $313 million to $318 million versus $318.45 million consensus analyst estimates. The Q2 2024 earnings results spiked PATH to the descending triangle as the weekly relative strength index (RSI) rally to the 60-band triggered the weekly market structure low (MSL) breakout through the $16.35 trigger.
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12b7a94c-c2dc-4f8d-bbc9-39d58c9904fc
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725363.0
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2023-09-11 00:00:00 UTC
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Evercore ISI Group Maintains Dell Technologies Inc - Class C (DELL) Outperform Recommendation
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DELL
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https://www.nasdaq.com/articles/evercore-isi-group-maintains-dell-technologies-inc-class-c-dell-outperform-1
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nan
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nan
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Fintel reports that on September 11, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation.
Analyst Price Forecast Suggests 16.71% Downside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents a decrease of 16.71% from its latest reported closing price of 70.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $70.50 / share, the stock's dividend yield is 2.10%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 1.37 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1117 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is a decrease of 27 owner(s) or 2.36% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 12.60%. Total shares owned by institutions increased in the last three months by 2.16% to 218,664K shares.
The put/call ratio of DELL is 0.78, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
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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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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 11, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 16.71% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 11, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 16.71% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 11, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 16.71% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 11, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 16.71% Downside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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f42fde1a-691b-421a-b66b-f4187f77881a
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725364.0
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2023-09-11 00:00:00 UTC
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Best Momentum Stock to Buy for September 11th
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DELL
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https://www.nasdaq.com/articles/best-momentum-stock-to-buy-for-september-11th
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nan
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nan
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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 11th:
Dell Technologies DELL: This company which is a provider of information technology solutions, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days.
Dell Technologies Inc. Price and Consensus
Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote
Dell Technologies’ shares gained 47.7% over the last three month compared with the S&P 500’s gain of 3.1%. The company possesses a Momentum Score of A.
Dell Technologies Inc. Price
Dell Technologies Inc. price | Dell Technologies Inc. Quote
AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.
AptarGroup, Inc. Price and Consensus
AptarGroup, Inc. price-consensus-chart | AptarGroup, Inc. Quote
AptarGroup’s shares gained 9.0% over the last three months compared with the S&P 500’s gain of 3.1%. The company possesses a Momentum Score of A.
AptarGroup, Inc. Price
AptarGroup, Inc. price | AptarGroup, Inc. Quote
NVR NVR: This company which is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.9% over the last 60 days.
NVR, Inc. Price and Consensus
NVR, Inc. price-consensus-chart | NVR, Inc. Quote
NVR's shares gained 7.5% over the last three months compared with the S&P 500’s gain of 3.1%. The company possesses a Momentum Score of B.
NVR, Inc. Price
NVR, Inc. price | NVR, Inc. Quote
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated 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 credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent 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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
AptarGroup, Inc. (ATR) : Free Stock Analysis Report
NVR, Inc. (NVR) : 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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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 11th: Dell Technologies DELL: This company which is a provider of information technology solutions, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote Dell Technologies’ shares gained 47.7% over the last three month compared with the S&P 500’s gain of 3.1%. The company possesses a Momentum Score of A. Dell Technologies Inc. Price Dell Technologies Inc. price | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.
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Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote Dell Technologies’ shares gained 47.7% over the last three month compared with the S&P 500’s gain of 3.1%. The company possesses a Momentum Score of A. Dell Technologies Inc. Price Dell Technologies Inc. price | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report To read this article on Zacks.com click here.
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The company possesses a Momentum Score of A. Dell Technologies Inc. Price Dell Technologies Inc. price | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 11th: Dell Technologies DELL: This company which is a provider of information technology solutions, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days.
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Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 11th: Dell Technologies DELL: This company which is a provider of information technology solutions, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. The company possesses a Momentum Score of A. Dell Technologies Inc. Price Dell Technologies Inc. price | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote Dell Technologies’ shares gained 47.7% over the last three month compared with the S&P 500’s gain of 3.1%.
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feef170a-35df-4a4e-8b70-ba3aec333577
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725365.0
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2023-09-11 00:00:00 UTC
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Dell Technologies Inc. (DELL) Hits Fresh High: Is There Still Room to Run?
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DELL
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https://www.nasdaq.com/articles/dell-technologies-inc.-dell-hits-fresh-high%3A-is-there-still-room-to-run
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nan
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nan
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Have you been paying attention to shares of Dell Technologies (DELL)? Shares have been on the move with the stock up 24% over the past month. The stock hit a new 52-week high of $70.89 in the previous session. Dell Technologies has gained 75.3% since the start of the year compared to the 39.2% move for the Zacks Computer and Technology sector and the 23% return for the Zacks Computers - IT Services industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 31, 2023, Dell Technologies reported EPS of $1.74 versus consensus estimate of $1.13 while it beat the consensus revenue estimate by 10.36%.
For the current fiscal year, Dell Technologies is expected to post earnings of $6.30 per share on $90.81 billion in revenues. This represents a -17.21% change in EPS on a -11.23% change in revenues. For the next fiscal year, the company is expected to earn $6.83 per share on $95.13 billion in revenues. This represents a year-over-year change of 8.4% and 4.75%, respectively.
Valuation Metrics
Dell Technologies may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
Dell Technologies has a Value Score of A. The stock's Growth and Momentum Scores are C and A, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 11.2X current fiscal year EPS estimates, which is not in-line with the peer industry average of 24.8X. On a trailing cash flow basis, the stock currently trades at 6.2X versus its peer group's average of 13X. Additionally, the stock has a PEG ratio of 0.93. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Dell Technologies currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Dell Technologies meets the list of requirements. Thus, it seems as though Dell Technologies shares could still be poised for more gains ahead.
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 credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent 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
Dell Technologies Inc. (DELL) : 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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Have you been paying attention to shares of Dell Technologies (DELL)? Dell Technologies has gained 75.3% since the start of the year compared to the 39.2% move for the Zacks Computer and Technology sector and the 23% return for the Zacks Computers - IT Services industry. In its last earnings report on August 31, 2023, Dell Technologies reported EPS of $1.74 versus consensus estimate of $1.13 while it beat the consensus revenue estimate by 10.36%.
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In its last earnings report on August 31, 2023, Dell Technologies reported EPS of $1.74 versus consensus estimate of $1.13 while it beat the consensus revenue estimate by 10.36%. Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Dell Technologies meets the list of requirements. Have you been paying attention to shares of Dell Technologies (DELL)?
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Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Dell Technologies meets the list of requirements. Have you been paying attention to shares of Dell Technologies (DELL)? Dell Technologies has gained 75.3% since the start of the year compared to the 39.2% move for the Zacks Computer and Technology sector and the 23% return for the Zacks Computers - IT Services industry.
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Dell Technologies has a Value Score of A. Have you been paying attention to shares of Dell Technologies (DELL)? Dell Technologies has gained 75.3% since the start of the year compared to the 39.2% move for the Zacks Computer and Technology sector and the 23% return for the Zacks Computers - IT Services industry.
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2b57baf2-070e-489f-8030-719e269c2f02
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725366.0
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2023-09-11 00:00:00 UTC
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Best Income Stocks to Buy for September 11th
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DELL
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https://www.nasdaq.com/articles/best-income-stocks-to-buy-for-september-11th
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nan
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nan
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Here are three stocks with buy rank and strong income characteristics for investors to consider today, Septemeber 11th:
Ethan Allen Interiors Inc. ETD: This company which is a leading interior design company and manufacturer and retailer of quality home furnishings, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 6.9% over the last 60 days.
Ethan Allen Interiors Inc. Price and Consensus
Ethan Allen Interiors Inc. price-consensus-chart | Ethan Allen Interiors Inc. Quote
This Zacks Rank #1 (Strong Buy) company has a dividend yield of 4.7%, compared with the industry average of 1.1%.
Ethan Allen Interiors Inc. Dividend Yield (TTM)
Ethan Allen Interiors Inc. dividend-yield-ttm | Ethan Allen Interiors Inc. Quote
Dell Technologies DELL: This company which is a provider of information technology solutions, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days.
Dell Technologies Inc. Price and Consensus
Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote
This Zacks Rank #1 company has a dividend yield of 2.1%, compared with the industry average of 0.0%.
Dell Technologies Inc. Dividend Yield (TTM)
Dell Technologies Inc. dividend-yield-ttm | Dell Technologies Inc. Quote
nVent Electric NVT: This company which is a provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes, Marine Services and Trading & Industrial, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 4.3% over the last 60 days.
nVent Electric PLC Price and Consensus
nVent Electric PLC price-consensus-chart | nVent Electric PLC Quote
This Zacks Rank #1 company has a dividend yield of 1.2%, compared with the industry average of 0.0%.
nVent Electric PLC Dividend Yield (TTM)
nVent Electric PLC dividend-yield-ttm | nVent Electric PLC Quote
See the full list of top ranked stocks here.
Find more top income stocks with some of our great premium screens
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 credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent 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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
nVent Electric PLC (NVT) : Free Stock Analysis Report
Ethan Allen Interiors Inc. (ETD) : 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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Ethan Allen Interiors Inc. Dividend Yield (TTM) Ethan Allen Interiors Inc. dividend-yield-ttm | Ethan Allen Interiors Inc. Quote Dell Technologies DELL: This company which is a provider of information technology solutions, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote This Zacks Rank #1 company has a dividend yield of 2.1%, compared with the industry average of 0.0%. Dell Technologies Inc. Dividend Yield (TTM) Dell Technologies Inc. dividend-yield-ttm | Dell Technologies Inc. Quote nVent Electric NVT: This company which is a provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes, Marine Services and Trading & Industrial, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 4.3% over the last 60 days.
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Ethan Allen Interiors Inc. Dividend Yield (TTM) Ethan Allen Interiors Inc. dividend-yield-ttm | Ethan Allen Interiors Inc. Quote Dell Technologies DELL: This company which is a provider of information technology solutions, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Dividend Yield (TTM) Dell Technologies Inc. dividend-yield-ttm | Dell Technologies Inc. Quote nVent Electric NVT: This company which is a provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes, Marine Services and Trading & Industrial, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 4.3% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report nVent Electric PLC (NVT) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Ethan Allen Interiors Inc. Dividend Yield (TTM) Ethan Allen Interiors Inc. dividend-yield-ttm | Ethan Allen Interiors Inc. Quote Dell Technologies DELL: This company which is a provider of information technology solutions, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Dividend Yield (TTM) Dell Technologies Inc. dividend-yield-ttm | Dell Technologies Inc. Quote nVent Electric NVT: This company which is a provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes, Marine Services and Trading & Industrial, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 4.3% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report nVent Electric PLC (NVT) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Dell Technologies Inc. Dividend Yield (TTM) Dell Technologies Inc. dividend-yield-ttm | Dell Technologies Inc. Quote nVent Electric NVT: This company which is a provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes, Marine Services and Trading & Industrial, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 4.3% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report nVent Electric PLC (NVT) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here. Ethan Allen Interiors Inc. Dividend Yield (TTM) Ethan Allen Interiors Inc. dividend-yield-ttm | Ethan Allen Interiors Inc. Quote Dell Technologies DELL: This company which is a provider of information technology solutions, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days.
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d98e9eea-6bb7-4b37-bbe9-0b7b8e7610a8
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725367.0
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2023-09-11 00:00:00 UTC
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New Strong Buy Stocks for September 11th
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DELL
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https://www.nasdaq.com/articles/new-strong-buy-stocks-for-september-11th
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nan
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nan
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Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
Dell Technologies DELL: This company which provides information technology solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days.
Dell Technologies Inc. Price and Consensus
Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote
AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.
AptarGroup, Inc. Price and Consensus
AptarGroup, Inc. price-consensus-chart | AptarGroup, Inc. Quote
NVR NVR: This company which is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis, has seen the Zacks Consensus Estimate for its current year earningsincreasing 7.9% over the last 60 days.
NVR, Inc. Price and Consensus
NVR, Inc. price-consensus-chart | NVR, Inc. Quote
Ethan Allen Interiors Inc. ETD: This company which is a leading interior design company and manufacturer and retailer of quality home furnishings, has seen the Zacks Consensus Estimate for its current year earnings increasing 6.9% over the last 60 day.
Ethan Allen Interiors Inc. Price and Consensus
Ethan Allen Interiors Inc. price-consensus-chart | Ethan Allen Interiors Inc. Quote
Nova Ltd. NVMI: This company which is a provider of metrology solutions for advanced process control used in semiconductor manufacturing, has seen the Zacks Consensus Estimate for its current year earnings increasing 6.5% over the last 60 days.
Nova Ltd. Price and Consensus
Nova Ltd. price-consensus-chart | Nova Ltd. Quote
You can see the complete list of today’s Zacks #1 Rank (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 credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent 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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
AptarGroup, Inc. (ATR) : Free Stock Analysis Report
NVR, Inc. (NVR) : Free Stock Analysis Report
Nova Ltd. (NVMI) : Free Stock Analysis Report
Ethan Allen Interiors Inc. (ETD) : 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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Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Dell Technologies DELL: This company which provides information technology solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report Nova Ltd. (NVMI) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Dell Technologies DELL: This company which provides information technology solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report Nova Ltd. (NVMI) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report Nova Ltd. (NVMI) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Dell Technologies DELL: This company which provides information technology solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.
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Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Dell Technologies DELL: This company which provides information technology solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.5% over the last 60 days. Dell Technologies Inc. Price and Consensus Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc. Quote AptarGroup ATR: This company which is a global supplier of a broad range of innovative dispensing, sealing, and active packaging solutions, has seen the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report Nova Ltd. (NVMI) : Free Stock Analysis Report Ethan Allen Interiors Inc. (ETD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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cbd12677-4e51-428c-90a1-0d4a4161f282
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725368.0
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2023-09-09 00:00:00 UTC
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Dell Stock Surges on AI Optimism -- Is Dell a Best Buy Now?
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DELL
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https://www.nasdaq.com/articles/dell-stock-surges-on-ai-optimism-is-dell-a-best-buy-now
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nan
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nan
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On the surface, Dell Technologies (NYSE: DELL) just had a pretty dismal quarter. With the PC and laptop market still working through too much inventory and the data center server market (especially for cloud computing) also suffering some weakness, Dell reported a second-quarter, fiscal 2024 revenue decline of 13% compared to last year.
Nevertheless, though financials were down, Dell significantly beat expectations thanks to strong performance in its artificial intelligence (AI) server business, especially new generative AI services powered by Nvidia graphics processing units (GPUs).
Dell is signaling that more strong performance is coming. At just 26 times trailing-12-month earnings per share, or just under 10 times trailing-12-month free cash flow, Dell is certainly far cheaper than Nvidia -- even cheaper than fast-growing AI server competitor Super Micro Computer. Is Dell stock a buy?
Data by YCharts. PE Ratio = price-to-earnings ratio.
Dell is ready to cash in on AI
So, with revenue down 13% year over year to $22.9 billion in Q2, what has investors excited about sleepy old tech stock Dell? Well, revenue in the quarter sailed past management's guidance provided in early June for as much as $21.2 billion.
Shareholders can thank data center storage devices like the PowerFlex, which management said doubled in demand compared to last year in Q2. Also, the PowerEdge XE9680 server powered by Nvidia's high-end GPUs for generative AI -- which just started shipping at the end of March -- now has a more than $2 billion backlog of customer orders. Dell COO Jeff Clarke said generative AI represented 20% of total server revenue in Q2, implying about $860 million in AI sales (20% of Dell's $4.3 billion from server and networking segment) last quarter.
Because of higher average selling prices for these servers versus older models, as well as Dell's cost controls and share repurchase plan, earnings per share (EPS) only fell 7% year over year in Q2. On an adjusted basis, excluding non-cash amortization and employee stock-based compensation expenses, EPS actually increased 4% year over year.
A better AI stock than Nvidia and Super Micro?
Investors may be drawn in by Dell's value stock status, especially when measuring it by free cash flow. There's a dividend currently yielding nearly 2.2% a year as of this writing, and the company also supplements that with some stock buybacks ($264 million worth last quarter).
Bear in mind, though, that Dell's resurgent growth from AI is highly reliant on Nvidia's technology, as well as on Nvidia's and its manufacturing partners' (like Taiwan Semiconductor Manufacturing) abilities to supply it with chips. Additionally, Dell's PC and laptop segment comprises more than half its revenue. PCs and laptops are no longer a major growth market and will ebb and flow from one year to the next based on consumer and business demand.
By comparison, Super Micro only builds servers, focusing particularly on AI. As its CEO Charles Liang said on the last quarterly conference call, he is a "close friend" of Nvidia CEO Jensen Huang. For investors looking for more focused AI server growth, Super Micro is probably the better bet right now.
That doesn't mean either of these server stocks is an automatic buy, though. For Dell and Super Micro, server building is also a cyclical business, and big run-ups in expansion can be followed by severe downturns -- and with those downturns, swings into unprofitable territory.
Data by YCharts. TTM = trailing 12 months.
Bear this in mind before chasing Dell stock -- or even faster-growing Super Micro, for that matter.
Overall, for the duration of this year, weakness in Dell's business outside of AI is likely to remain a headwind that keeps revenue in a year-over-year decline. I'm not buying. But it's worth keeping tabs on as competition for the AI server space -- supplied by Nvidia chips and tech -- heats up between Dell and peers like Super Micro.
10 stocks we like better than Dell Technologies
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Dell Technologies wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of September 5, 2023
Nicholas Rossolillo has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia and Taiwan Semiconductor Manufacturing. 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 worth keeping tabs on as competition for the AI server space -- supplied by Nvidia chips and tech -- heats up between Dell and peers like Super Micro. On the surface, Dell Technologies (NYSE: DELL) just had a pretty dismal quarter. With the PC and laptop market still working through too much inventory and the data center server market (especially for cloud computing) also suffering some weakness, Dell reported a second-quarter, fiscal 2024 revenue decline of 13% compared to last year.
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At just 26 times trailing-12-month earnings per share, or just under 10 times trailing-12-month free cash flow, Dell is certainly far cheaper than Nvidia -- even cheaper than fast-growing AI server competitor Super Micro Computer. Dell COO Jeff Clarke said generative AI represented 20% of total server revenue in Q2, implying about $860 million in AI sales (20% of Dell's $4.3 billion from server and networking segment) last quarter. On the surface, Dell Technologies (NYSE: DELL) just had a pretty dismal quarter.
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At just 26 times trailing-12-month earnings per share, or just under 10 times trailing-12-month free cash flow, Dell is certainly far cheaper than Nvidia -- even cheaper than fast-growing AI server competitor Super Micro Computer. Dell is ready to cash in on AI So, with revenue down 13% year over year to $22.9 billion in Q2, what has investors excited about sleepy old tech stock Dell? Dell COO Jeff Clarke said generative AI represented 20% of total server revenue in Q2, implying about $860 million in AI sales (20% of Dell's $4.3 billion from server and networking segment) last quarter.
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With the PC and laptop market still working through too much inventory and the data center server market (especially for cloud computing) also suffering some weakness, Dell reported a second-quarter, fiscal 2024 revenue decline of 13% compared to last year. Dell is ready to cash in on AI So, with revenue down 13% year over year to $22.9 billion in Q2, what has investors excited about sleepy old tech stock Dell? On the surface, Dell Technologies (NYSE: DELL) just had a pretty dismal quarter.
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48822d02-15e2-404b-86cf-9e7b6d1ab3d9
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725369.0
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2023-09-08 00:00:00 UTC
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Noteworthy ETF Outflows: PWV, UPS, DELL, ET
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DELL
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https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-pwv-ups-dell-et
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco Large Cap Value ETF (Symbol: PWV) where we have detected an approximate $184.1 million dollar outflow -- that's a 19.1% decrease week over week (from 20,180,000 to 16,320,000). Among the largest underlying components of PWV, in trading today United Parcel Service Inc (Symbol: UPS) is off about 0.5%, Dell Technologies Inc (Symbol: DELL) is up about 2.2%, and Energy Transfer LP (Symbol: ET) is lower by about 0.2%. For a complete list of holdings, visit the PWV Holdings page » The chart below shows the one year price performance of PWV, versus its 200 day moving average:
Looking at the chart above, PWV's low point in its 52 week range is $41.53 per share, with $49.43 as the 52 week high point — that compares with a last trade of $47.78. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Specialty Retail Dividend Stocks
UBND Historical Stock Prices
Top Ten Hedge Funds Holding SGRY
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of PWV, in trading today United Parcel Service Inc (Symbol: UPS) is off about 0.5%, Dell Technologies Inc (Symbol: DELL) is up about 2.2%, and Energy Transfer LP (Symbol: ET) is lower by about 0.2%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Among the largest underlying components of PWV, in trading today United Parcel Service Inc (Symbol: UPS) is off about 0.5%, Dell Technologies Inc (Symbol: DELL) is up about 2.2%, and Energy Transfer LP (Symbol: ET) is lower by about 0.2%. For a complete list of holdings, visit the PWV Holdings page » The chart below shows the one year price performance of PWV, versus its 200 day moving average: Looking at the chart above, PWV's low point in its 52 week range is $41.53 per share, with $49.43 as the 52 week high point — that compares with a last trade of $47.78. Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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Among the largest underlying components of PWV, in trading today United Parcel Service Inc (Symbol: UPS) is off about 0.5%, Dell Technologies Inc (Symbol: DELL) is up about 2.2%, and Energy Transfer LP (Symbol: ET) is lower by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco Large Cap Value ETF (Symbol: PWV) where we have detected an approximate $184.1 million dollar outflow -- that's a 19.1% decrease week over week (from 20,180,000 to 16,320,000). For a complete list of holdings, visit the PWV Holdings page » The chart below shows the one year price performance of PWV, versus its 200 day moving average: Looking at the chart above, PWV's low point in its 52 week range is $41.53 per share, with $49.43 as the 52 week high point — that compares with a last trade of $47.78.
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Among the largest underlying components of PWV, in trading today United Parcel Service Inc (Symbol: UPS) is off about 0.5%, Dell Technologies Inc (Symbol: DELL) is up about 2.2%, and Energy Transfer LP (Symbol: ET) is lower by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco Large Cap Value ETF (Symbol: PWV) where we have detected an approximate $184.1 million dollar outflow -- that's a 19.1% decrease week over week (from 20,180,000 to 16,320,000). Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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b79d6d04-7467-4ca6-b245-a2ebd962d18f
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725370.0
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2023-09-07 00:00:00 UTC
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Weakness in Apple Weighs on Tech Stocks and Drags Broader Marker Lower
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DELL
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https://www.nasdaq.com/articles/weakness-in-apple-weighs-on-tech-stocks-and-drags-broader-marker-lower
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nan
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nan
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What you need to know…
The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.32%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.73%.
Stocks on Thursday settled mixed, with the S&P 500 falling to a 1-1/2 week low and the Nasdaq 100 index falling to a one-week low. The broader market was under pressure Thursday due to weakness in technology stocks. Apple closed down more than -2% to add to Wednesday’s -3% loss and lead technology stocks lower on a report from the Wall Street Journal that said China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Thursday's strength in defensive pharmaceutical and healthcare stocks supported the Dow Jones Industrials index.
Stocks were also under pressure from Thursday’s news that U.S. weekly initial unemployment claims unexpectedly fell to a 7-month low, a sign of strength in the labor market that may prompt the Fed to keep interest rates higher for longer.
Thursday's Fed comments were mostly dovish and helped lift stocks from their worst levels. New York Fed President Williams said U.S. monetary policy is "in a good place," but policymakers will need to parse through data to decide on how to proceed on interest rates. Also, Chicago Fed President Goolsbee said the debate within the Fed is "very rapidly approaching the time when our argument is not going to be about how high should rates go but to how long we need to keep rates at this position before we're sure that we're on the path back to the inflation target."
On the negative side, Atlanta Fed President Bostic said the U.S. economy is still working through pandemic dynamics, and the Fed "still has work to do" to bring inflation to its 2% target.
U.S. weekly initial unemployment claims unexpectedly fell -13,000 to a 7-month low of 216,000, showing a stronger labor market than expectations of an increase to 233,000. Weekly continuing claims fell -40,000 to 1.679 million, showing a stronger labor market than expectations of 1.719 million.
U.S. Q2 nonfarm productivity was revised lower to +3.5% from the initially reported +3.7%, stronger than expectations of +3.4%. Also, Q2 unit labor costs were revised higher to +2.2% from the initially reported +1.6%, stronger than expectations of +1.9%.
The markets are discounting the odds at 7% for a +25 bp rate hike at the September 20 FOMC meeting and 48% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields on Thursday moved lower. The 10-year T-note yield fell from a 2-week high of 4.304% and finished down -2.2 bp at 4.258%. The 10-year German bund yield fell -4.0 bp to 2.614%. The 10-year UK gilt yield fell -8.0 bp to 4.454%.
Overseas stock markets Thursday settled lower. The Euro Stoxx 50 closed down -0.41%. China’s Shanghai Composite Index closed down -1.13%. Japan’s Nikkei Stock Index closed down -0.75%.
Eurozone Q2 GDP was revised lower to +0.1% q/q and +0.5% y/y from the previously reported +0.3% q/q and +0.6% y/y.
German July industrial production fell -0.8% m/m, weaker than expectations of -0.4% y/y.
Chinese trade data was slightly better than expected. China Aug exports fell -8.8% y/y, a smaller decline than expectations of -9.0% y/y. Also, Aug imports fell -7.3% y/y, a smaller decline than expectations of -9.0% y/y.
Today’s stock movers…
Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials, adding to Wednesday’s -3% drop, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Apple suppliers are also falling on the news, with Qualcomm (QCOM), Skyworks Solutions (SWKS), and Qorvo (QRVO) closing down more than -7%.
Seagate Technology Holdings Plc (STX) closed down more than -10% to lead losers in the SP 500 after Barclays downgraded the stock to equal weight from overweight.
Align Technology (ALGN) closed down more than -7% to lead losers in the Nasdaq 100 on weakness in healthcare suppliers after Neogen, a maker of food safety tests, forecast “modestly negative” core growth in its Q1 preliminary view.
Insulet (PODD) closed down more than -7% after a New England Journal of Medicine article said the use of semaglutides shots like Ozempic and Wegovy in patients with type 1 diabetes reduces the need for insulin injections.
FMC Corp (FMC) closed down more than -7% after Blue Orca Capital said FMC’s patents aren’t enough to protect it from competition from rival generic products.
Rollins (ROL) closed down more than -6 % after holder LOR Inc. announced a sale of 38.7 million shares of the stock via Goldman Sachs and Morgan Stanley.
Verint Systems (VRNT) closed down more than -19% after reporting Q2 adjusted revenue of $210.4 million, weaker than the consensus of $226.6 million, and cut its full-year adjusted revenue forecast to $910 million from a previous estimate of $935 million, below the consensus of $933.6 million.
C3.ai (AI) closed down more than -12% after saying it expects its fiscal-year adjusted loss will be as much as -$100 million, wider than a previous estimate of -$75 million, and that profitability would take longer than expected.
Dell Technologies (DELL) closed down more than -2% after Barclays downgraded the stock to underweight from equal weight.
Nvidia (NVDA) closed down more than -1%, adding to Wednesday’s -2% fall after Research Affiliates said the stock is “a textbook story of a Big Market Delusion,” and with shares trading around 110 times earnings, the stock is priced beyond perfection.
Defensive health insurance and dividend paying pharmaceutical stocks rose Thursday. Centene (CNC) closed up more than +4% to lead gainers in the S&P 500. Also, Church & Dwight (CHD), Eli Lilly (LLY), Amgen (AMGN), AbbVie (ABBV), and Cigna Group (CI) closed up more than +2%.
Westrock (WRK) closed up more than +4% after the Wall Street Journal reported the company is nearing a deal to merge with Smurfit Kappa.
G-III Apparel Group Ltd (GIII) closed up more than +24% after reporting Q2 net sales of $659.8 million, well above the consensus of $592.2 million.
UiPath (PATH) closed up more than +11% after reporting Q2 total revenue of $287.3 million, better than the consensus of $282.3 million, and sees 2024 revenue of $1.27 billion-$1.28 billion, stronger than the consensus of $1.27 billion.
Cboe Global Markets (CBOE) closed up more than +2% after reporting the average daily volume for August was up +25.4%
T-Mobile US (TMUS) closed up more than +2% to lead gainers in the Nasdaq 100 after Bloomberg Intelligence said the launch of the iPhone 15 could provide a boost to T-Mobile’s premium service plans.
McDonald’s (MCD) closed up more than +1% after Wells Fargo Securities upgraded the stock to overweight from equal weight.
Across the markets…
December 10-year T-notes (ZNZ23) on Thursday closed up +9.5 ticks, and the 10-year T-note yield fell -2.2 bp to 4.258%. Dec T-notes Thursday today recovered from a 1-1/2 week low, and the 10-year T-note yield fell back from a 2-week high of 4.304% as a slump in stocks sparked safe-haven demand for government debt. T-notes this Thursday morning initially moved lower on news that weekly jobless claims unexpectedly fell to a 7-month low and that Q2 unit labor costs were revised higher.
More Stock Market News from Barchart
Dollar Gains on U.S. Economic Strength and Yuan Weakness
1 Standout Oil & Gas Stock Under $10 with 20% Upside Potential
3 Surprising Stocks Warren Buffett Recently Bought
Simon Property Group Gets Unusually Active: Time to Buy the Mall Owner?
On the date of publication, Rich Asplund 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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Dell Technologies (DELL) closed down more than -2% after Barclays downgraded the stock to underweight from equal weight. Apple closed down more than -2% to add to Wednesday’s -3% loss and lead technology stocks lower on a report from the Wall Street Journal that said China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Today’s stock movers… Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials, adding to Wednesday’s -3% drop, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies.
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Dell Technologies (DELL) closed down more than -2% after Barclays downgraded the stock to underweight from equal weight. Apple closed down more than -2% to add to Wednesday’s -3% loss and lead technology stocks lower on a report from the Wall Street Journal that said China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. U.S. weekly initial unemployment claims unexpectedly fell -13,000 to a 7-month low of 216,000, showing a stronger labor market than expectations of an increase to 233,000.
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Dell Technologies (DELL) closed down more than -2% after Barclays downgraded the stock to underweight from equal weight. What you need to know… The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.32%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.73%. Stocks were also under pressure from Thursday’s news that U.S. weekly initial unemployment claims unexpectedly fell to a 7-month low, a sign of strength in the labor market that may prompt the Fed to keep interest rates higher for longer.
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Dell Technologies (DELL) closed down more than -2% after Barclays downgraded the stock to underweight from equal weight. Stocks on Thursday settled mixed, with the S&P 500 falling to a 1-1/2 week low and the Nasdaq 100 index falling to a one-week low. Thursday's strength in defensive pharmaceutical and healthcare stocks supported the Dow Jones Industrials index.
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aeabaf1f-a837-4247-a16e-af4184c2c54d
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725371.0
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2023-09-07 00:00:00 UTC
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October 27th Options Now Available For Dell Technologies
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DELL
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https://www.nasdaq.com/articles/october-27th-options-now-available-for-dell-technologies
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nan
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nan
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Investors in Dell Technologies Inc (Symbol: DELL) saw new options begin trading today, for the October 27th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DELL options chain for the new October 27th contracts and identified one put and one call contract of particular interest.
The put contract at the $69.00 strike price has a current bid of $2.55. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $69.00, but will also collect the premium, putting the cost basis of the shares at $66.45 (before broker commissions). To an investor already interested in purchasing shares of DELL, that could represent an attractive alternative to paying $69.56/share today.
Because the $69.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 3.70% return on the cash commitment, or 26.98% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Dell Technologies Inc, and highlighting in green where the $69.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $70.00 strike price has a current bid of $2.85. If an investor was to purchase shares of DELL stock at the current price level of $69.56/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $70.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 4.73% if the stock gets called away at the October 27th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if DELL shares really soar, which is why looking at the trailing twelve month trading history for Dell Technologies Inc, as well as studying the business fundamentals becomes important. Below is a chart showing DELL's trailing twelve month trading history, with the $70.00 strike highlighted in red:
Considering the fact that the $70.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 4.10% boost of extra return to the investor, or 29.91% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $69.56) to be 38%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of Stocks Conducting Buybacks »
Also see:
NetApp Stock Split History
Top Ten Hedge Funds Holding VTTI
Top 10 Hedge Funds Holding Carnival
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Below is a chart showing DELL's trailing twelve month trading history, with the $70.00 strike highlighted in red: Considering the fact that the $70.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Dell Technologies Inc (Symbol: DELL) saw new options begin trading today, for the October 27th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DELL options chain for the new October 27th contracts and identified one put and one call contract of particular interest.
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Below is a chart showing DELL's trailing twelve month trading history, with the $70.00 strike highlighted in red: Considering the fact that the $70.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Dell Technologies Inc (Symbol: DELL) saw new options begin trading today, for the October 27th expiration.
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Below is a chart showing the trailing twelve month trading history for Dell Technologies Inc, and highlighting in green where the $69.00 strike is located relative to that history: Turning to the calls side of the option chain, the call contract at the $70.00 strike price has a current bid of $2.85. Below is a chart showing DELL's trailing twelve month trading history, with the $70.00 strike highlighted in red: Considering the fact that the $70.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Dell Technologies Inc (Symbol: DELL) saw new options begin trading today, for the October 27th expiration.
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Below is a chart showing the trailing twelve month trading history for Dell Technologies Inc, and highlighting in green where the $69.00 strike is located relative to that history: Turning to the calls side of the option chain, the call contract at the $70.00 strike price has a current bid of $2.85. Below is a chart showing DELL's trailing twelve month trading history, with the $70.00 strike highlighted in red: Considering the fact that the $70.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Dell Technologies Inc (Symbol: DELL) saw new options begin trading today, for the October 27th expiration.
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5355f52d-b6dd-4c7b-a7da-4095f04140c2
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725372.0
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2023-09-07 00:00:00 UTC
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Stocks Lower as Weakness in Apple Weighs on Tech Stocks
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DELL
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https://www.nasdaq.com/articles/stocks-lower-as-weakness-in-apple-weighs-on-tech-stocks
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nan
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nan
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What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.45%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.83%.
Stock indexes this morning are mostly lower, with the S&P 500 falling to a 1-1/2 week low and the Nasdaq 100 index falling to a one-week low. The broader market is under pressure today due to weakness in technology stocks. Apple is down more than -3% to add to Wednesday’s -3% drop to lead technology stocks lower on a report from the Wall Street Journal that said China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Strength in defensive pharmaceutical stocks today is providing support for the Dow Jones Industrials index.
Stocks are also under pressure from today’s news that U.S. weekly initial unemployment claims unexpectedly fell to a 7-month low, a sign of strength in the labor market that may prompt the Fed to keep interest rates higher for longer.
U.S. weekly initial unemployment claims unexpectedly fell -13,000 to a 7-month low of 216,000, showing a stronger labor market than expectations of an increase to 233,000. Weekly continuing claims fell -40,000 to 1.679 million, showing a stronger labor market than expectations of 1.719 million.
U.S. Q2 nonfarm productivity was revised lower to +3.5% from the initially reported +3.7%, stronger than expectations of +3.4%. Also, Q2 unit labor costs were revised higher to +2.2% from the initially reported +1.6%, stronger than expectations of +1.9%.
The markets are discounting the odds at 7% for a +25 bp rate hike at the September 20 FOMC meeting and 50% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields are lower. The 10-year T-note yield fell back from a 2-week high of 4.304% and is down -0.1 bp at 4.278%. The 10-year German bund yield is down -3.1 bp at 2.623%. The 10-year UK gilt yield is down -5.0 bp at 4.483%.
Overseas stock markets are lower. The Euro Stoxx 50 is down -0.30%. China’s Shanghai Composite Index closed down -1.13%. Japan’s Nikkei Stock Index closed down -0.75%.
Today’s stock movers…
Apple (AAPL) is down more than -3% to lead losers in the Dow Jones Industrials, adding to Wednesday’s -3% drop, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Apple suppliers are also falling on the news, with Qualcomm (QCOM) down more than -6%, leading losers in the Nasdaq 100. Also, Skyworks Solutions (SWKS) is down more than -6%, and Qorvo (QRVO) is down more than -5%. In addition, Micron Technology (MU) is down more than -1%.
Seagate Technology Holdings Plc (STX) is down more than -8% to lead losers in the SP 500 after Barclays downgraded the stock to equal weight from overweight.
Rollins (ROL) is down more than -7 % after holder LOR Inc. announced a sale of 38.7 million shares of the stock via Goldman Sachs and Morgan Stanley.
FMC Corp (FMC) is down more than -3% after Blue Orca Capital said FMC’s patents aren’t enough to protect it from competition from rival generic products.
Nvidia (NVDA) is down more than -2%, adding to Wednesday’s -2% fall after Research Affiliates said the stock is “a textbook story of a Big Market Delusion,” and with shares trading around 110 times earnings, the stock is priced beyond perfection.
Verint Systems (VRNT) is down more than -14% after reporting Q2 adjusted revenue of $210.4 million, weaker than the consensus of $226.6 million, and cut its full-year adjusted revenue forecast to $910 million from a previous estimate of $935 million, below the consensus of $933.6 million.
C3.ai (AI) is down more than -13% after saying it expects its fiscal-year adjusted loss will be as much as -$100 million, wider than a previous estimate of -$75 million, and that profitability would take longer than expected.
Dell Technologies (DELL) is down more than -1% after Barclays downgraded the stock to underweight from equal weight.
Westrock (WRK) is up more than +5% to lead gainers in the S&P 500 after the Wall Street Journal reported the company is nearing a deal to merge with Smurfit Kappa.
T-Mobile US (TMUS) is up more than +3% to lead gainers in the Nasdaq 100 after Bloomberg Intelligence said the launch of the iPhone 15 could provide a boost to T-Mobile’s premium service plans.
G-III Apparel Group Ltd (GIII) is up more than +15% after reporting Q2 net sales of $659.8 million, well above the consensus of $592.2 million.
UiPath (PATH) is up more than +8% after reporting Q2 total revenue of $287.3 million, better than the consensus of $282.3 million, and sees 2024 revenue of $1.27 billion-$1.28 billion, stronger than the consensus of $1.27 billion.
Akamai Technologies (AKAM) is up more than +3% after Bank of America Global Research initiated coverage of the stock with a buy recommendation and a price target of $145.
Cboe Global Markets (CBOE) is up more than +1% after reporting the average daily volume for August was up +25.4%
McDonald’s (MCD) is up more than +1% after Wells Fargo Securities upgraded the stock to overweight from equal weight.
Across the markets…
December 10-year T-notes (ZNZ23) today are up +3 ticks, and the 10-year T-note yield is down -0.1 bp at 4.278%. Dec T-note prices today recovered from a 1-1/2 week low, and the 10-year T-note yield fell back from a 2-week high of 4.304% as a slump in stocks sparked safe-haven demand for government debt. T-notes this morning initially moved lower on U.S. economic news that showed weekly jobless claims unexpectedly fell to a 7-month low, and Q2 unit labor costs were revised higher.
The dollar index (DXY00) today is up +0.17% and climbed to a 5-3/4 month high. Today’s U.S. economic news that showed an unexpected decline in weekly jobless claims and an upward revision to Q2 labor costs are hawkish for Fed policy and bullish for the dollar. Also, pessimism in China’s economic outlook prompted the yuan to fall to a 15-year low against the dollar.
EUR/USD (^EURUSD) is down by -0.24% and fell to a 3-month low. Strength in the dollar today is weighing on the euro. Also, weaker-than-expected Eurozone economic news is bearish for EUR/USD after Eurozone Q2 GDP was revised lower and German July industrial production fell more than expected.
Eurozone Q2 GDP was revised lower to +0.1% q/q and +0.5% y/y from the previously reported +0.3% q/q and +0.6% y/y. Also, German July industrial production fell -0.8% m/m, weaker than expectations of -0.4% y/y.
USD/JPY (^USDJPY) is down -0.21%. The yen today recovered from a 10-month low against the dollar and is moderately higher. A slump in stocks today has boosted the safe-haven demand for the yen. The yen also found support today on comments from BOJ Board member Nakagawa, who said the BOJ will closely coordinate with the government in monitoring foreign exchange rates.
Today’s Japanese economic news was bearish for the yen after the July leading index CI fell -1.2 to a 2-3/4 year low of 107.6, weaker than expectations of 107.8.
October gold (GCV3) today is down -1.0 (-0.05%), and Dec silver (SIZ23) is down -0.198 (-0.84%). Precious metals prices this morning are moderately lower, with silver falling to a 2-1/2 week low. Today's rally in the dollar index to a 5-3/4 month high weighs metals prices. Silver prices were undercut today by industrial metals demand concerns after Eurozone Q2 GDP was revised downward and German July industrial production fell more than expected. In addition, gold prices are under pressure on continued liquidation of gold holdings by funds after long gold holdings in ETFs fell to a 3-1/3 year low Wednesday. Losses in gold were limited as today’s selloff in stocks sparked some safe-haven demand for gold.
More Stock Market News from Barchart
War is a ‘Good’ Business as AeroVironment (AVAV) Confirms
Apple Stock: Should You Buy the Dip Ahead of Tuesday's iPhone 15 Launch?
VIX: Sentiment Says Stocks Will Rise- Is it Wrong?
Markets Today: Stocks Drop on Apple Weakness and U.S. Labor Market Strength
On the date of publication, Rich Asplund 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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Dell Technologies (DELL) is down more than -1% after Barclays downgraded the stock to underweight from equal weight. Apple is down more than -3% to add to Wednesday’s -3% drop to lead technology stocks lower on a report from the Wall Street Journal that said China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Stocks are also under pressure from today’s news that U.S. weekly initial unemployment claims unexpectedly fell to a 7-month low, a sign of strength in the labor market that may prompt the Fed to keep interest rates higher for longer.
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Dell Technologies (DELL) is down more than -1% after Barclays downgraded the stock to underweight from equal weight. Dec T-note prices today recovered from a 1-1/2 week low, and the 10-year T-note yield fell back from a 2-week high of 4.304% as a slump in stocks sparked safe-haven demand for government debt. T-notes this morning initially moved lower on U.S. economic news that showed weekly jobless claims unexpectedly fell to a 7-month low, and Q2 unit labor costs were revised higher.
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Dell Technologies (DELL) is down more than -1% after Barclays downgraded the stock to underweight from equal weight. Stock indexes this morning are mostly lower, with the S&P 500 falling to a 1-1/2 week low and the Nasdaq 100 index falling to a one-week low. Stocks are also under pressure from today’s news that U.S. weekly initial unemployment claims unexpectedly fell to a 7-month low, a sign of strength in the labor market that may prompt the Fed to keep interest rates higher for longer.
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Dell Technologies (DELL) is down more than -1% after Barclays downgraded the stock to underweight from equal weight. Stock indexes this morning are mostly lower, with the S&P 500 falling to a 1-1/2 week low and the Nasdaq 100 index falling to a one-week low. Weekly continuing claims fell -40,000 to 1.679 million, showing a stronger labor market than expectations of 1.719 million.
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2023-09-07 00:00:00 UTC
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Stocks Slump Before the Open as Inflation and Interest Rate Worries Return
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DELL
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https://www.nasdaq.com/articles/stocks-slump-before-the-open-as-inflation-and-interest-rate-worries-return
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nan
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nan
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September S&P 500 futures (ESU23) are down -0.58%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.88% this morning after three major U.S. benchmark indices ended the regular session lower as an unexpected rise in a key U.S. services activity gauge bolstered speculation that the Federal Reserve would have to keep interest rates higher for longer.
In Wednesday’s trading session, the benchmark S&P 500 and tech-heavy Nasdaq 100 notched 1-week lows, and the blue-chip Dow posted a 1-1/2 week low. Apple Inc (AAPL) plunged over -3% and was among the top percentage losers on the Nasdaq 100 following a Wall Street Journal report stating that China had instructed government agencies to cease using the tech giant’s iPhone and other foreign electronic devices at work. Also, Lockheed Martin Corporation (LMT) slid more than -4% after the company cut the delivery outlook for its F-35 jets and delayed deliveries of its updated Technology Refresh 3 jets. In addition, Johnson & Johnson (JNJ) fell over -1% after HSBC initiated coverage of the stock with a Hold rating. On the bullish side, AeroVironment Inc (AVAV) surged more than +20% after the maker of combat drones and other unmanned systems reported upbeat Q1 results and raised its FY24 revenue guidance.
Economic data on Wednesday showed that the U.S. ISM services index unexpectedly rose to a 6-month high of 54.5 in August, stronger than expectations of 52.5. Also, the U.S. Trade Balance stood at -$65.00B in July, stronger than expectations of -$68.00B. At the same time, the U.S. August S&P Global composite PMI came in at 50.2, weaker than expectations of 50.4.
“The ISM Services Sector report underscores the resilience of the largest portion of the economy. Unfortunately, the prices-paid component moved in the wrong direction — similar to the higher prices paid in the manufacturing report — edging markedly higher. This is certainly not good news for a data-dependent Fed,” said Quincy Krosby, chief global strategist at LPL Financial.
Boston Fed President Susan Collins said Wednesday that policymakers will need to exercise patience as they assess economic data to determine their next course of action. “This phase of our policy cycle requires patience and holistic data assessment while we stay the course,” she said. However, she pointed out that if the improvement in inflation data is fleeting, “further tightening could be warranted.”
Meanwhile, U.S. rate futures have priced in a 7.0% probability of a 25 basis point rate increase at September’s monetary policy meeting and a 43.4% chance of a 25 basis point rate hike at November’s monetary policy meeting.
In other news, the Federal Reserve’s Beige Book report, released on Wednesday, indicated that economic activity was modest in July and August, with subdued job growth across the United States and a slowdown in price growth in most districts.
Today, all eyes are focused on U.S. Initial Jobless Claims data in a couple of hours. Economists, on average, forecast that Initial Jobless Claims will come in at 234K, compared to last week’s value of 228K.
Also, investors are likely to focus on U.S. Unit Labor Costs data, which came in at +3.3% q/q in the first quarter. Economists foresee the second-quarter figure to be +1.6% q/q.
U.S. Nonfarm Productivity data will come in today. Economists foresee this figure to stand at +3.7% q/q in the second quarter, compared to the first-quarter number of -1.2% q/q.
U.S. Crude Oil Inventories data will be reported today as well. Economists estimate this figure to be -2.064M, compared to last week’s value of -10.584M.
In addition, market participants will be looking toward speeches from New York Fed President John Williams and Atlanta Fed President Raphael Bostic.
In the bond markets, United States 10-year rates are at 4.281%, down -0.28%.
The Euro Stoxx 50 futures are up +0.09% this morning, clawing back early losses from weak German data. Gains in utility and construction stocks are leading the overall market higher. Eurostat’s final data showed Thursday that the Eurozone economy experienced meager growth in the second quarter, falling short of earlier projections due to stagnant domestic consumption and weakened exports. Separately, German industrial production fell again in July, offering fresh evidence of a slowdown in Europe’s largest economy. In corporate news, Direct Line Insurance Group Plc (DLG.LN) climbed over +17% after the British motor and home insurer projected better operating profit in 2024.
U.K.’s Halifax House Price Index, Germany’s Industrial Production, Eurozone’s GDP, and Eurozone’s Employment Change data were released today.
U.K. August Halifax House Price Index stood at -1.9% m/m and -4.6% y/y, weaker than expectations of -0.3% m/m and -3.5% y/y.
The German July Industrial Production came in at -0.8% m/m, weaker than expectations of -0.5% m/m.
Eurozone Employment Change arrived at +0.2% q/q and +1.3% y/y in the second quarter, compared to expectations of +0.2% q/q and +1.5% y/y.
Eurozone GDP has been reported at +0.1% q/q and +0.5% y/y in the second quarter, weaker than expectations of +0.3% q/q and +0.6% y/y.
Asian stock markets today settled in the red. China’s Shanghai Composite Index (SHCOMP) closed down -1.13%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.75%.
China’s Shanghai Composite today closed lower after trade data indicated continued economic weakness in the country, while the prospect of renewed Sino-U.S. tensions also weighed on sentiment. Customs data showed on Thursday that China’s imports and exports contracted at a rate slower than anticipated in August, but they remained near historic lows due to sluggish demand both domestically and abroad. Meanwhile, the chair of the House of Representatives committee on China stated on Wednesday that the U.S. Commerce Department should end all technology exports to Huawei and SMIC in light of the discovery of new chips in Huawei phones that could violate trade restrictions. On the ground of this, semiconductor stocks retreated on Thursday, with China’s top chipmaker Semiconductor Manufacturing International Corp slumping over -7%. Mainland property developers traded in Hong Kong also lost ground. In other news, four major state banks in China said Thursday they would start to lower interest rates on existing mortgages for first-home loans, bringing them down to the levels applicable at the time of home purchase.
“While the better-than-expected data came as a relief, more stimulus measures are needed to drive economic growth and lift market confidence,” UBS analysts wrote in a note.
The Chinese August Trade Balance has been reported at $68.36B, weaker than expectations of $73.90B.
The Chinese August Exports stood at -8.8% y/y, stronger than expectations of -9.2% y/y.
The Chinese August Imports came in at -7.3% y/y, stronger than expectations of -9.0% y/y.
Japan’s Nikkei 225 Stock Index closed lower today, snapping an eight-day winning streak as rising U.S. yields and concerns over a decelerating Chinese economy weighed on investor sentiment. Meanwhile, Bank of Japan Board Member Junko Nakagawa said that maintaining monetary easing is appropriate for the time being, especially given that the inflation target has not yet been met. In corporate news, computer-chip testing equipment maker Advantest plunged over -6% on Thursday, tracking an overnight drop in customer Nvidia. Also, NTN Corp dropped more than -5% after the ball-bearings manufacturer issued a zero-coupon convertible bond. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +4.38% to 17.89.
Pre-Market U.S. Stock Movers
Apple Inc (AAPL) fell over -2% in pre-market trading following reports that China aimed to extend the prohibition of Apple’s iPhones in sensitive government departments to government-backed agencies and state-owned enterprises.
WestRock Co (WRK) climbed more than +8% in pre-market trading following a report by the Wall Street Journal indicating that the company is engaged in talks regarding a potential merger with Europe’s Smurfit Kappa.
GameStop Corp (GME) soared over +6% in pre-market trading after the company reported better-than-expected Q2 results.
UiPath Inc (PATH) gained over +4% in pre-market trading after the company posted upbeat Q2 results and provided solid FY24 revenue guidance.
C3.ai Inc (AI) plunged over -9% in pre-market trading after the enterprise software company said it would not be profitable by the end of fiscal year 2024.
Sportsmans (SPWH) tumbled more than -14% in pre-market trading after reporting downbeat Q2 results.
Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Thursday - September 7th
DocuSign (DOCU), Toro (TTC), Guidewire (GWRE), Science Applications (SAIC), BRP Inc (DOOO), Smartsheet (SMAR), Braze (BRZE), ABM Industries (ABM), Korn Ferry (KFY), John Wiley&Sons (WLY), Semtech (SMTC), Methode Electronics (MEI), Planet Labs PBC (PL), G-III Apparel (GIII), Avid Bioservices (CDMO), Tsakos Energy (TNP), Secureworks (SCWX), Smith & Wesson (SWBI), Concrete Pumping A (BBCP), Zumiez (ZUMZ), Limoneira (LMNR).
More Stock Market News from Barchart
AVAV vs. CWCO: Look to the Balance Sheet for Guidance
Stocks Fall as Economic Strength May Keep Interest Rates Higher for Longer
Retirees: Does it Make Economic Sense to Move Into a 55+ Community?
Unusual Options Activity in Johnson & Johnson Post Its Kenvue Spinoff Highlights Its Value
On the date of publication, Oleksandr Pylypenko 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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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. Apple Inc (AAPL) plunged over -3% and was among the top percentage losers on the Nasdaq 100 following a Wall Street Journal report stating that China had instructed government agencies to cease using the tech giant’s iPhone and other foreign electronic devices at work. Eurostat’s final data showed Thursday that the Eurozone economy experienced meager growth in the second quarter, falling short of earlier projections due to stagnant domestic consumption and weakened exports.
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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. In other news, the Federal Reserve’s Beige Book report, released on Wednesday, indicated that economic activity was modest in July and August, with subdued job growth across the United States and a slowdown in price growth in most districts. U.K.’s Halifax House Price Index, Germany’s Industrial Production, Eurozone’s GDP, and Eurozone’s Employment Change data were released today.
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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. However, she pointed out that if the improvement in inflation data is fleeting, “further tightening could be warranted.” Meanwhile, U.S. rate futures have priced in a 7.0% probability of a 25 basis point rate increase at September’s monetary policy meeting and a 43.4% chance of a 25 basis point rate hike at November’s monetary policy meeting. Pre-Market U.S. Stock Movers Apple Inc (AAPL) fell over -2% in pre-market trading following reports that China aimed to extend the prohibition of Apple’s iPhones in sensitive government departments to government-backed agencies and state-owned enterprises.
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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. Economic data on Wednesday showed that the U.S. ISM services index unexpectedly rose to a 6-month high of 54.5 in August, stronger than expectations of 52.5. In the bond markets, United States 10-year rates are at 4.281%, down -0.28%.
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725374.0
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2023-09-07 00:00:00 UTC
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Stocks Fall Before the Open as Inflation and Interest Rate Worries Return
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DELL
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https://www.nasdaq.com/articles/stocks-fall-before-the-open-as-inflation-and-interest-rate-worries-return
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nan
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nan
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September S&P 500 futures (ESU23) are down -0.34%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.63% this morning after three major U.S. benchmark indices ended the regular session lower as an unexpected rise in a key U.S. services activity gauge bolstered speculation that the Federal Reserve would have to keep interest rates higher for longer.
In Wednesday’s trading session, the benchmark S&P 500 and tech-heavy Nasdaq 100 notched 1-week lows, and the blue-chip Dow posted a 1-1/2 week low. Apple Inc (AAPL) plunged over -3% and was among the top percentage losers on the Nasdaq 100 following a Wall Street Journal report stating that China had instructed government agencies to cease using the tech giant’s iPhone and other foreign electronic devices at work. Also, Lockheed Martin Corporation (LMT) slid more than -4% after the company cut the delivery outlook for its F-35 jets and delayed deliveries of its updated Technology Refresh 3 jets. In addition, Johnson & Johnson (JNJ) fell over -1% after HSBC initiated coverage of the stock with a Hold rating. On the bullish side, AeroVironment Inc (AVAV) surged more than +20% after the maker of combat drones and other unmanned systems reported upbeat Q1 results and raised its FY24 revenue guidance.
Economic data on Wednesday showed that the U.S. ISM services index unexpectedly rose to a 6-month high of 54.5 in August, stronger than expectations of 52.5. Also, the U.S. Trade Balance stood at -$65.00B in July, stronger than expectations of -$68.00B. At the same time, the U.S. August S&P Global composite PMI came in at 50.2, weaker than expectations of 50.4.
“The ISM Services Sector report underscores the resilience of the largest portion of the economy. Unfortunately, the prices-paid component moved in the wrong direction — similar to the higher prices paid in the manufacturing report — edging markedly higher. This is certainly not good news for a data-dependent Fed,” said Quincy Krosby, chief global strategist at LPL Financial.
Boston Fed President Susan Collins said Wednesday that policymakers will need to exercise patience as they assess economic data to determine their next course of action. “This phase of our policy cycle requires patience and holistic data assessment while we stay the course,” she said. However, she pointed out that if the improvement in inflation data is fleeting, “further tightening could be warranted.”
Meanwhile, U.S. rate futures have priced in a 7.0% probability of a 25 basis point rate increase at September’s monetary policy meeting and a 43.4% chance of a 25 basis point rate hike at November’s monetary policy meeting.
In other news, the Federal Reserve’s Beige Book report, released on Wednesday, indicated that economic activity was modest in July and August, with subdued job growth across the United States and a slowdown in price growth in most districts.
Today, all eyes are focused on U.S. Initial Jobless Claims data in a couple of hours. Economists, on average, forecast that Initial Jobless Claims will come in at 234K, compared to last week’s value of 228K.
Also, investors are likely to focus on U.S. Unit Labor Costs data, which came in at +3.3% q/q in the first quarter. Economists foresee the second-quarter figure to be +1.6% q/q.
U.S. Nonfarm Productivity data will come in today. Economists foresee this figure to stand at +3.7% q/q in the second quarter, compared to the first-quarter number of -1.2% q/q.
U.S. Crude Oil Inventories data will be reported today as well. Economists estimate this figure to be -2.064M, compared to last week’s value of -10.584M.
In addition, market participants will be looking toward speeches from New York Fed President John Williams and Atlanta Fed President Raphael Bostic.
In the bond markets, United States 10-year rates are at 4.281%, down -0.28%.
The Euro Stoxx 50 futures are up +0.09% this morning, clawing back early losses from weak German data. Gains in utility and construction stocks are leading the overall market higher. Eurostat’s final data showed Thursday that the Eurozone economy experienced meager growth in the second quarter, falling short of earlier projections due to stagnant domestic consumption and weakened exports. Separately, German industrial production fell again in July, offering fresh evidence of a slowdown in Europe’s largest economy. In corporate news, Direct Line Insurance Group Plc (DLG.LN) climbed over +17% after the British motor and home insurer projected better operating profit in 2024.
U.K.’s Halifax House Price Index, Germany’s Industrial Production, Eurozone’s GDP, and Eurozone’s Employment Change data were released today.
U.K. August Halifax House Price Index stood at -1.9% m/m and -4.6% y/y, weaker than expectations of -0.3% m/m and -3.5% y/y.
The German July Industrial Production came in at -0.8% m/m, weaker than expectations of -0.5% m/m.
Eurozone Employment Change arrived at +0.2% q/q and +1.3% y/y in the second quarter, compared to expectations of +0.2% q/q and +1.5% y/y.
Eurozone GDP has been reported at +0.1% q/q and +0.5% y/y in the second quarter, weaker than expectations of +0.3% q/q and +0.6% y/y.
Asian stock markets today settled in the red. China’s Shanghai Composite Index (SHCOMP) closed down -1.13%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.75%.
China’s Shanghai Composite today closed lower after trade data indicated continued economic weakness in the country, while the prospect of renewed Sino-U.S. tensions also weighed on sentiment. Customs data showed on Thursday that China’s imports and exports contracted at a rate slower than anticipated in August, but they remained near historic lows due to sluggish demand both domestically and abroad. Meanwhile, the chair of the House of Representatives committee on China stated on Wednesday that the U.S. Commerce Department should end all technology exports to Huawei and SMIC in light of the discovery of new chips in Huawei phones that could violate trade restrictions. On the ground of this, semiconductor stocks retreated on Thursday, with China’s top chipmaker Semiconductor Manufacturing International Corp slumping over -7%. Mainland property developers traded in Hong Kong also lost ground. In other news, four major state banks in China said Thursday they would start to lower interest rates on existing mortgages for first-home loans, bringing them down to the levels applicable at the time of home purchase.
“While the better-than-expected data came as a relief, more stimulus measures are needed to drive economic growth and lift market confidence,” UBS analysts wrote in a note.
The Chinese August Trade Balance has been reported at $68.36B, weaker than expectations of $73.90B.
The Chinese August Exports stood at -8.8% y/y, stronger than expectations of -9.2% y/y.
The Chinese August Imports came in at -7.3% y/y, stronger than expectations of -9.0% y/y.
Japan’s Nikkei 225 Stock Index closed lower today, snapping an eight-day winning streak as rising U.S. yields and concerns over a decelerating Chinese economy weighed on investor sentiment. Meanwhile, Bank of Japan Board Member Junko Nakagawa said that maintaining monetary easing is appropriate for the time being, especially given that the inflation target has not yet been met. In corporate news, computer-chip testing equipment maker Advantest plunged over -6% on Thursday, tracking an overnight drop in customer Nvidia. Also, NTN Corp dropped more than -5% after the ball-bearings manufacturer issued a zero-coupon convertible bond. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +4.38% to 17.89.
Pre-Market U.S. Stock Movers
Apple Inc (AAPL) fell over -2% in pre-market trading following reports that China aimed to extend the prohibition of Apple’s iPhones in sensitive government departments to government-backed agencies and state-owned enterprises.
WestRock Co (WRK) climbed more than +8% in pre-market trading following a report by the Wall Street Journal indicating that the company is engaged in talks regarding a potential merger with Europe’s Smurfit Kappa.
GameStop Corp (GME) soared over +6% in pre-market trading after the company reported better-than-expected Q2 results.
UiPath Inc (PATH) gained over +4% in pre-market trading after the company posted upbeat Q2 results and provided solid FY24 revenue guidance.
C3.ai Inc (AI) plunged over -9% in pre-market trading after the enterprise software company said it would not be profitable by the end of fiscal year 2024.
Sportsmans (SPWH) tumbled more than -14% in pre-market trading after reporting downbeat Q2 results.
Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Thursday - September 7th
DocuSign (DOCU), Toro (TTC), Guidewire (GWRE), Science Applications (SAIC), BRP Inc (DOOO), Smartsheet (SMAR), Braze (BRZE), ABM Industries (ABM), Korn Ferry (KFY), John Wiley&Sons (WLY), Semtech (SMTC), Methode Electronics (MEI), Planet Labs PBC (PL), G-III Apparel (GIII), Avid Bioservices (CDMO), Tsakos Energy (TNP), Secureworks (SCWX), Smith & Wesson (SWBI), Concrete Pumping A (BBCP), Zumiez (ZUMZ), Limoneira (LMNR).
More Stock Market News from Barchart
AVAV vs. CWCO: Look to the Balance Sheet for Guidance
Stocks Fall as Economic Strength May Keep Interest Rates Higher for Longer
Retirees: Does it Make Economic Sense to Move Into a 55+ Community?
Unusual Options Activity in Johnson & Johnson Post Its Kenvue Spinoff Highlights Its Value
On the date of publication, Oleksandr Pylypenko 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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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. Apple Inc (AAPL) plunged over -3% and was among the top percentage losers on the Nasdaq 100 following a Wall Street Journal report stating that China had instructed government agencies to cease using the tech giant’s iPhone and other foreign electronic devices at work. Eurostat’s final data showed Thursday that the Eurozone economy experienced meager growth in the second quarter, falling short of earlier projections due to stagnant domestic consumption and weakened exports.
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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. In other news, the Federal Reserve’s Beige Book report, released on Wednesday, indicated that economic activity was modest in July and August, with subdued job growth across the United States and a slowdown in price growth in most districts. U.K.’s Halifax House Price Index, Germany’s Industrial Production, Eurozone’s GDP, and Eurozone’s Employment Change data were released today.
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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. However, she pointed out that if the improvement in inflation data is fleeting, “further tightening could be warranted.” Meanwhile, U.S. rate futures have priced in a 7.0% probability of a 25 basis point rate increase at September’s monetary policy meeting and a 43.4% chance of a 25 basis point rate hike at November’s monetary policy meeting. Pre-Market U.S. Stock Movers Apple Inc (AAPL) fell over -2% in pre-market trading following reports that China aimed to extend the prohibition of Apple’s iPhones in sensitive government departments to government-backed agencies and state-owned enterprises.
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Dell Technologies Inc (DELL) fell about -3% in pre-market trading after Barclays downgraded the stock to Underweight from Equal Weight. Economic data on Wednesday showed that the U.S. ISM services index unexpectedly rose to a 6-month high of 54.5 in August, stronger than expectations of 52.5. In the bond markets, United States 10-year rates are at 4.281%, down -0.28%.
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b9274d45-683e-406b-975a-8a0fad1e3bc1
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725375.0
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2023-09-05 00:00:00 UTC
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Company News for Sep 5, 2023
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DELL
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https://www.nasdaq.com/articles/company-news-for-sep-5-2023
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nan
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nan
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Lululemon Athletica Inc.’s (LULU) shares climbed 6% after reporting third-quarter fiscal 2023 adjusted earnings per share of $2.68, surpassing the Zacks Consensus Estimate of $2.53.
Dell Technologies Inc. (DELL) shares soared 21.3% after posting second-quarter fiscal 2024 adjusted earnings per share of $1.74, outpacing the Zacks Consensus Estimate of $1.13.
Shares of MongoDB Inc. (MDB) surged 3% after the company reported second-quarter fiscal 2024 adjusted earnings per share of $0.93, exceeding the Zacks Consensus Estimate of $0.45.
Shares of Nutanix Inc. (NTNX) jumped 12.2% after the company posted fourth quarter fiscal 2023 adjusted earnings per share of $0.24, beating the Zacks Consensus Estimate of $0.15.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
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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
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
Nutanix (NTNX) : Free Stock Analysis Report
MongoDB, Inc. (MDB) : 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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Dell Technologies Inc. (DELL) shares soared 21.3% after posting second-quarter fiscal 2024 adjusted earnings per share of $1.74, outpacing the Zacks Consensus Estimate of $1.13. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Nutanix (NTNX) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report To read this article on Zacks.com click here. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
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Dell Technologies Inc. (DELL) shares soared 21.3% after posting second-quarter fiscal 2024 adjusted earnings per share of $1.74, outpacing the Zacks Consensus Estimate of $1.13. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Nutanix (NTNX) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of MongoDB Inc. (MDB) surged 3% after the company reported second-quarter fiscal 2024 adjusted earnings per share of $0.93, exceeding the Zacks Consensus Estimate of $0.45.
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Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Nutanix (NTNX) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report To read this article on Zacks.com click here. Dell Technologies Inc. (DELL) shares soared 21.3% after posting second-quarter fiscal 2024 adjusted earnings per share of $1.74, outpacing the Zacks Consensus Estimate of $1.13. Shares of MongoDB Inc. (MDB) surged 3% after the company reported second-quarter fiscal 2024 adjusted earnings per share of $0.93, exceeding the Zacks Consensus Estimate of $0.45.
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Dell Technologies Inc. (DELL) shares soared 21.3% after posting second-quarter fiscal 2024 adjusted earnings per share of $1.74, outpacing the Zacks Consensus Estimate of $1.13. Click to get this free report Dell Technologies Inc. (DELL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Nutanix (NTNX) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report To read this article on Zacks.com click here. Lululemon Athletica Inc.’s (LULU) shares climbed 6% after reporting third-quarter fiscal 2023 adjusted earnings per share of $2.68, surpassing the Zacks Consensus Estimate of $2.53.
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6bfd5470-b3de-4f12-b759-d74aa5b0717e
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725376.0
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2023-09-05 00:00:00 UTC
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Stocks Set to Open Lower as Investors Await U.S. Economic Data and Fed Speak, Chinese Data Disappoints
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DELL
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https://www.nasdaq.com/articles/stocks-set-to-open-lower-as-investors-await-u.s.-economic-data-and-fed-speak-chinese-data
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nan
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nan
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September S&P 500 futures (ESU23) are down -0.12%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.35% this morning as subdued economic data from China weighed on sentiment, while investors looked ahead to a fresh batch of U.S. economic data and speeches from Fed officials.
In Friday’s trading session, Wall Street’s major averages ended mixed, with the benchmark S&P 500 rising to a 4-week high. Dell Technologies Inc (DELL) surged over +21% after the company reported stronger-than-expected Q2 results. Also, Lululemon Athletica Inc (LULU) rose about +6% after the yoga wear maker posted upbeat Q2 results and raised its FY23 net revenue guidance. On the bearish side, Tesla Inc (TSLA) plunged more than -5% after the EV maker cut the prices for its premium Model S and Model X in China and the U.S. In addition, Walt Disney Company (DIS) fell over -2% after several of its channels, including ESPN, became unavailable to Charter’s Spectrum cable service customers on Thursday due to a dispute over cable fees.
The U.S. Labor Department’s report on Friday showed that the U.S. economy added 187K jobs last month, above the expected figure of 170K. Also, the U.S. August ISM manufacturing index rose to a 6-month high of 47.6, stronger than expectations of 47.0. At the same time, the U.S. unemployment rate unexpectedly rose to a 1-1/2 year high of 3.8% in August, weaker than expectations of 3.5%. In addition, U.S. August average hourly earnings came in at +0.2% m/m and +4.3% y/y, weaker than expectations of +0.3% m/m and +4.4% y/y.
“The data makes the case for the Fed becoming more dovish as we head into the fall. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks,” said Keith Buchanan, portfolio manager at GLOBALT Investments.
Cleveland Fed President Loretta Mester stated Friday that although there has been some progress, inflation remains “too high,” and the labor market continues to demonstrate strength.
Meanwhile, U.S. rate futures have priced in a 7.0% probability of a 25 basis point rate increase at the September FOMC meeting and a 35.7% chance of a 25 basis point rate hike at the November FOMC meeting.
In other news, Goldman Sachs Group Inc. reduced its estimate of the likelihood of a recession in the United States. “Continued positive inflation and labormarket newshas led us to cut our estimated 12-month U.S. recession probability further to 15%, down 5pp from our prior estimate,” Goldman Sachs chief economist Jan Hatzius wrote in a note.
In the coming week, investors will be monitoring a spate of economic data, including U.S. ISM Non-Manufacturing PMI, ISM Non-Manufacturing Prices, S&P Global Composite PMI, S&P Global Services PMI, Exports, Imports, Trade Balance, Initial Jobless Claims, Nonfarm Productivity, Unit Labor Costs, Crude Oil Inventories, Wholesale Inventories, and Wholesale Trade Sales.
In addition, several Fed officials will be making appearances this week, including Dallas Fed President Lorie Logan, Philadelphia Fed President Patrick Harker, New York Fed President John Williams, Fed Governor Michelle Bowman, and Chicago Fed President Austan Goolsbee.
Today, investors will likely focus on U.S. Factory Orders data. Economists, on average, forecast that July Factory Orders will stand at -2.5% m/m, compared to the previous value of +2.3% m/m.
In the bond markets, United States 10-year rates are at 4.220%, up +1.09%.
The Euro Stoxx 50 futures are down -0.33% this morning as market participants digested soft Chinese services PMI data while also weighing important data on regional services activity. China-exposed stocks are under pressure today after a private-sector survey showed China’s services sector expanded at its slowest rate in 8 months in August. Data on Tuesday showed that the decline in Eurozone business activity worsened more rapidly than initially estimated last month, with the region’s dominant services industry slipping into contraction. Meanwhile, the ECB’s Consumer Expectations Survey indicated that inflation expectations for the period three years ahead increased from 2.3% in June to 2.4% in July. In corporate news, Partners Group Holding Ag (PGHN.Z.IX) climbed over +6% after reporting better-than-expected first-half revenue. Also, Roche Holding Ag (ROG.Z.IX) fell more than -1% after Berenberg downgraded the stock to Hold from Buy.
Spain’s Services PMI, Italy’s Services PMI, France’s Services PMI, Germany’s Composite PMI, Germany’s Services PMI, Eurozone’s Composite PMI, Eurozone’s Services PMI, U.K’s Composite PMI, U.K’s Services PMI, and Eurozone’s PPI were released today.
The Spanish August Services PMI came in at 49.3, weaker than expectations of 51.5.
The Italian August Services PMI arrived at 49.8, weaker than expectations of 50.2.
The French August Services PMI stood at 46.0, weaker than expectations of 46.7.
The German August Composite PMI has been reported at 44.6, weaker than expectations of 44.7.
The German August Services PMI came in at 47.3, in line with expectations.
Eurozone August Composite PMI arrived at 46.7, weaker than expectations of 47.0.
Eurozone August Services PMI stood at 47.9, weaker than expectations of 48.3.
U.K. August Composite PMI has been reported at 48.6, stronger than expectations of 47.9.
U.K. August Services PMI came in at 49.5, stronger than expectations of 48.7.
Eurozone July PPI stood at -0.5% m/m and -7.6% y/y, compared to expectations of -0.6% m/m and -7.6% y/y.
Asian stock markets today settled mixed. China’s Shanghai Composite Index (SHCOMP) closed down -0.71%, and Japan’s Nikkei 225 Stock Index (NIK) closed up +0.30%.
China’s Shanghai Composite today closed lower as disappointing service sector data renewed concerns over the country’s fragile economic recovery. A private-sector survey showed on Tuesday that China’s services activity expanded at the slowest pace in 8 months in August, providing further evidence that the economic recovery is losing momentum. Meanwhile, property and technology stocks retreated on Tuesday as some investors opted to book profits following the gains in previous sessions. In more positive news, Reuters reported that Country Garden managed to make interest payments on its U.S. dollar bonds just hours before a grace period deadline, averting a default situation for the second time in four days.
The Chinese August Caixin Services PMI stood at 51.8, weaker than expectations of 53.6.
“The miss in China’s Caixin services PMI has offset some of the sentiment shift we got yesterday. To be fair, China’s measures so far are a mere relaxation of over-regulation that can merely stop or slow down further damage, and not particularly stimulus actions that can reverse the damage,” said Charu Chanana, market strategist at Saxo.
At the same time, Japan’s Nikkei 225 Stock Index closed higher today, hitting a 1-month high as investors digested stronger-than-expected services activity data. A private-sector survey showed on Tuesday that Japan’s service sector activity expanded at its fastest rate in 3 months in August, supported by strong consumer spending as inbound tourism regained momentum. Separately, data on Tuesday showed that Japanese household spending experienced its most significant decline in nearly 2-1/2 years, primarily due to the impact of rising prices. In corporate news, JFE Holdings plunged over -6% following the announcement that the Japanese steel giant’s board approved a fundraising plan involving a public share offering and convertible bond issuance to overseas investors, amounting to 211.4 billion yen. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +2.45% to 17.56.
The Japanese July Household Spending has been reported at -2.7% m/m and -5.0% y/y, weaker than expectations of +0.7% m/m and -2.5% y/y.
The Japanese August Services PMI came in at 54.3, in line with expectations.
Pre-Market U.S. Stock Movers
Airbnb Inc (ABNB) climbed over +5%, and Blackstone Group Inc (BX) gained more than +4% in pre-market trading on news that the stocks would join the S&P 500.
Keysight Technologies Inc (KEYS) rose about +1% in pre-market trading after Goldman Sachs upgraded the stock to Buy from Neutral.
Oracle Corporation (ORCL) gained over +1% in pre-market trading after Barclays upgraded the stock to Overweight from Equal Weight.
Olin Corporation (OLN) rose more than +1% in pre-market trading after KeyBanc upgraded the stock to Overweight from Sector Weight.
Corteva Inc (CTVA) rose over +1% in pre-market trading after UBS upgraded the stock to Buy from Neutral.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Tuesday - September 5th
Zscaler (ZS), Gitlab (GTLB), Healthequity Inc (HQY), Ascendis Pharma AS (ASND), Asana (ASAN), AeroVironment (AVAV), Brady (BRC), Americas Car-Mart (CRMT), Procaps (PROC).
More Stock Market News from Barchart
For the Politically Agnostic, Fox Corp (FOXA) Might Be a Contrarian Opportunity
Apple Stock Looks Cheap Here to Value Buyers and Short Put Traders
Option Volatility And Earnings Report For September 4 - 9
Bank Holiday, ISM and Other Can't Miss Items This Week
On the date of publication, Oleksandr Pylypenko 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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Dell Technologies Inc (DELL) surged over +21% after the company reported stronger-than-expected Q2 results. In more positive news, Reuters reported that Country Garden managed to make interest payments on its U.S. dollar bonds just hours before a grace period deadline, averting a default situation for the second time in four days. In corporate news, JFE Holdings plunged over -6% following the announcement that the Japanese steel giant’s board approved a fundraising plan involving a public share offering and convertible bond issuance to overseas investors, amounting to 211.4 billion yen.
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Dell Technologies Inc (DELL) surged over +21% after the company reported stronger-than-expected Q2 results. In the coming week, investors will be monitoring a spate of economic data, including U.S. ISM Non-Manufacturing PMI, ISM Non-Manufacturing Prices, S&P Global Composite PMI, S&P Global Services PMI, Exports, Imports, Trade Balance, Initial Jobless Claims, Nonfarm Productivity, Unit Labor Costs, Crude Oil Inventories, Wholesale Inventories, and Wholesale Trade Sales. Spain’s Services PMI, Italy’s Services PMI, France’s Services PMI, Germany’s Composite PMI, Germany’s Services PMI, Eurozone’s Composite PMI, Eurozone’s Services PMI, U.K’s Composite PMI, U.K’s Services PMI, and Eurozone’s PPI were released today.
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Dell Technologies Inc (DELL) surged over +21% after the company reported stronger-than-expected Q2 results. In the coming week, investors will be monitoring a spate of economic data, including U.S. ISM Non-Manufacturing PMI, ISM Non-Manufacturing Prices, S&P Global Composite PMI, S&P Global Services PMI, Exports, Imports, Trade Balance, Initial Jobless Claims, Nonfarm Productivity, Unit Labor Costs, Crude Oil Inventories, Wholesale Inventories, and Wholesale Trade Sales. The Euro Stoxx 50 futures are down -0.33% this morning as market participants digested soft Chinese services PMI data while also weighing important data on regional services activity.
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Dell Technologies Inc (DELL) surged over +21% after the company reported stronger-than-expected Q2 results. In addition, U.S. August average hourly earnings came in at +0.2% m/m and +4.3% y/y, weaker than expectations of +0.3% m/m and +4.4% y/y. Spain’s Services PMI, Italy’s Services PMI, France’s Services PMI, Germany’s Composite PMI, Germany’s Services PMI, Eurozone’s Composite PMI, Eurozone’s Services PMI, U.K’s Composite PMI, U.K’s Services PMI, and Eurozone’s PPI were released today.
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2dc34608-1324-4807-b586-843c5c1903a3
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725377.0
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2023-09-02 00:00:00 UTC
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Raymond James Maintains Dell Technologies Inc - Class C (DELL) Outperform Recommendation
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DELL
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https://www.nasdaq.com/articles/raymond-james-maintains-dell-technologies-inc-class-c-dell-outperform-recommendation-0
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nan
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nan
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Fintel reports that on September 1, 2023, Raymond James maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation.
Analyst Price Forecast Suggests 4.41% Upside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents an increase of 4.41% from its latest reported closing price of 56.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $56.24 / share, the stock's dividend yield is 2.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 18 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.18%, an increase of 11.60%. Total shares owned by institutions increased in the last three months by 2.47% to 219,288K shares.
The put/call ratio of DELL is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 1, 2023, Raymond James maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 1, 2023, Raymond James maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 1, 2023, Raymond James maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. Fintel reports that on September 1, 2023, Raymond James maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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8e25c600-fe12-4dae-9669-82a65f0025a5
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725378.0
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2023-09-02 00:00:00 UTC
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UBS Maintains Dell Technologies Inc - Class C (DELL) Buy Recommendation
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DELL
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https://www.nasdaq.com/articles/ubs-maintains-dell-technologies-inc-class-c-dell-buy-recommendation
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nan
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nan
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Fintel reports that on September 1, 2023, UBS maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation.
Analyst Price Forecast Suggests 4.41% Upside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents an increase of 4.41% from its latest reported closing price of 56.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $56.24 / share, the stock's dividend yield is 2.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 18 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.18%, an increase of 11.60%. Total shares owned by institutions increased in the last three months by 2.47% to 219,288K shares.
The put/call ratio of DELL is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 1, 2023, UBS maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Fintel reports that on September 1, 2023, UBS maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
|
Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 1, 2023, UBS maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. Fintel reports that on September 1, 2023, UBS maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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b5a5966e-f247-45f8-bc73-787b0cf230cf
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725379.0
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2023-09-02 00:00:00 UTC
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Wells Fargo Maintains Dell Technologies Inc - Class C (DELL) Overweight Recommendation
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DELL
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https://www.nasdaq.com/articles/wells-fargo-maintains-dell-technologies-inc-class-c-dell-overweight-recommendation-0
|
nan
|
nan
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Fintel reports that on September 1, 2023, Wells Fargo maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation.
Analyst Price Forecast Suggests 4.41% Upside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents an increase of 4.41% from its latest reported closing price of 56.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $56.24 / share, the stock's dividend yield is 2.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 18 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.18%, an increase of 11.60%. Total shares owned by institutions increased in the last three months by 2.47% to 219,288K shares.
The put/call ratio of DELL is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 1, 2023, Wells Fargo maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 1, 2023, Wells Fargo maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
|
Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 1, 2023, Wells Fargo maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. Fintel reports that on September 1, 2023, Wells Fargo maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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50f9868b-e5cd-40d5-8512-9a3dc536f3ad
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725380.0
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2023-09-02 00:00:00 UTC
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Evercore ISI Group Maintains Dell Technologies Inc - Class C (DELL) Outperform Recommendation
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DELL
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https://www.nasdaq.com/articles/evercore-isi-group-maintains-dell-technologies-inc-class-c-dell-outperform-0
|
nan
|
nan
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Fintel reports that on September 1, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation.
Analyst Price Forecast Suggests 4.41% Upside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents an increase of 4.41% from its latest reported closing price of 56.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $56.24 / share, the stock's dividend yield is 2.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 18 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.18%, an increase of 11.60%. Total shares owned by institutions increased in the last three months by 2.47% to 219,288K shares.
The put/call ratio of DELL is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 1, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Fintel reports that on September 1, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
|
Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 1, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Fintel reports that on September 1, 2023, Evercore ISI Group maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Outperform recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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c7276d8e-8aec-4279-85d2-80597ce24268
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725381.0
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2023-09-02 00:00:00 UTC
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Goldman Sachs Maintains Dell Technologies Inc - Class C (DELL) Buy Recommendation
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DELL
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https://www.nasdaq.com/articles/goldman-sachs-maintains-dell-technologies-inc-class-c-dell-buy-recommendation-2
|
nan
|
nan
|
Fintel reports that on September 1, 2023, Goldman Sachs maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation.
Analyst Price Forecast Suggests 4.41% Upside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents an increase of 4.41% from its latest reported closing price of 56.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $56.24 / share, the stock's dividend yield is 2.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 18 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.18%, an increase of 11.60%. Total shares owned by institutions increased in the last three months by 2.47% to 219,288K shares.
The put/call ratio of DELL is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 1, 2023, Goldman Sachs maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Fintel reports that on September 1, 2023, Goldman Sachs maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
|
Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 1, 2023, Goldman Sachs maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
|
Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. Fintel reports that on September 1, 2023, Goldman Sachs maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Buy recommendation. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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f30105e0-507e-448c-94a8-61079b671a7e
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725382.0
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2023-09-02 00:00:00 UTC
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Morgan Stanley Maintains Dell Technologies Inc - Class C (DELL) Overweight Recommendation
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DELL
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https://www.nasdaq.com/articles/morgan-stanley-maintains-dell-technologies-inc-class-c-dell-overweight-recommendation-1
|
nan
|
nan
|
Fintel reports that on September 1, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation.
Analyst Price Forecast Suggests 4.41% Upside
As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents an increase of 4.41% from its latest reported closing price of 56.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.
Dell Technologies Inc - Class C Declares $0.37 Dividend
On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.
At the current share price of $56.24 / share, the stock's dividend yield is 2.63%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.53. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1161 funds or institutions reporting positions in Dell Technologies Inc - Class C. This is an increase of 18 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.18%, an increase of 11.60%. Total shares owned by institutions increased in the last three months by 2.47% to 219,288K shares.
The put/call ratio of DELL is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.
Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it's prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it's prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.
Dell Technologies Background Information
(This description is provided by the company.)
Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry's broadest and most innovative technology and services portfolio for the data era.
Additional reading:
Dell Technologies Delivers Second Quarter Fiscal 2024 Financial Results
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
DELL INTERNATIONAL L.L.C. EMC CORPORATION LETTER OF TRANSMITTAL OFFER TO EXCHANGE UP TO $962,390,000 AGGREGATE PRINCIPAL AMOUNT OF THEIR 3.375% SENIOR NOTES DUE 2041, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AN
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. Fintel reports that on September 1, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Fintel reports that on September 1, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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Dell Technologies Inc - Class C Declares $0.37 Dividend On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Fintel reports that on September 1, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72.
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Analyst Price Forecast Suggests 4.41% Upside As of August 31, 2023, the average one-year price target for Dell Technologies Inc - Class C is 58.72. Fintel reports that on September 1, 2023, Morgan Stanley maintained coverage of Dell Technologies Inc - Class C (NYSE:DELL) with a Overweight recommendation. The projected annual revenue for Dell Technologies Inc - Class C is 93,264MM, a decrease of 0.38%.
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2023-09-01 00:00:00 UTC
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US STOCKS-S&P 500, Nasdaq fall as jobs data boost fades; streaming firms weigh
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DELL
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https://www.nasdaq.com/articles/us-stocks-sp-500-nasdaq-fall-as-jobs-data-boost-fades-streaming-firms-weigh
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Unemployment rate rises in August
Broadcom slips on downbeat revenue outlook
Dell gains on raising full-year forecasts
Disney, Charter fall amid rates dispute
Indexes: Dow up 0.03%, S&P down 0.11%, Nasdaq down 0.34%
Updated at 12:03 p.m. ET/ 1603 GMT
By Shristi Achar A and Amruta Khandekar
Sept 1 (Reuters) - The S&P 500 and the Nasdaq reversed early gains on Friday as an initial boost from data pointing to an easing in labor market conditions fizzled out, while shares of streaming firms tumbled amid a rate dispute between Disney and Charter Communications.
The Labor Department's report showed the unemployment rate rose to 3.8% last month while wage growth slowed. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.
U.S. stocks had got a boost from the report on hopes that the data would allow the Federal Reserve to pause its monetary tightening.
At 12:03 p.m. ET, the Dow Jones Industrial Average .DJI was up 9.12 points, or 0.03%, at 34,731.03, the S&P 500 .SPX was down 5.04 points, or 0.11%, at 4,502.62, and the Nasdaq Composite .IXIC was down 47.32 points, or 0.34%, at 13,987.65.
"The jobs report was good for the market, but it isn't all that great because September is a difficult month (for stocks) generally," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
Further weighing on markets, Walt Disney DIS.N and Charter Communications CHTR.O slipped 2.7% and 3.6%, respectively, as the companies traded salvos over their unresolved distribution agreement after several channels including ESPN went dark on Thursday for customers of Charter's Spectrum cable service.
Other streaming firms such as Warner Bros Discovery WBD.O, Paramount Global PARA.O and Fox Corp FOX.O fell between 5.0% and 10.1%, dragging the S&P 500 communication services sector .SPLRCL 0.8% lower.
TeslaTSLA.O was also a big drag on the S&P 500 and the Nasdaq, falling 4.3% after the EV maker cut prices for its Model S and Model X vehicles in the U.S.
Most other megacap growth stocks also fell as U.S. Treasury yields, which had declined immediately following the payrolls report, edged higher.
The nonfarm payrolls report caps a data-heavy week and has added to evidence of a slowing economy, boosting hopes that the Fed is close to ending its interst rate hikes.
All three main U.S. stock indexes are on track to post weekly gains, with the tech-heavy Nasdaq .IXIC up 3% so far this week.
BroadcomAVGO.O fell 6.2% as the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21.7% after the personal computer maker raised its annual forecasts for revenue and profit.
Lululemon AthleticaLULU.O gained 5.3% after the yogawear maker lifted its annual profit and revenue forecasts for a second time.
Walgreens Boots AllianceWBA.O slipped 5% after the pharmacy chain said CEO Rosalind Brewer has stepped down.
Advancing issues outnumbered decliners for a 1.73-to-1 ratio on the NYSE and a 1.82-to-1 ratio on the Nasdaq.
The S&P index recorded 23 new 52-week highs and 17 new lows, while the Nasdaq recorded 73 new highs and 59 new lows.
Federal Reserve's data-dependent journey in 2023 https://tmsnrt.rs/3Z24x84
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Shounak Dasgupta)
((Shristi.AcharA@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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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Disney, Charter fall amid rates dispute Indexes: Dow up 0.03%, S&P down 0.11%, Nasdaq down 0.34% Updated at 12:03 p.m. ET/ 1603 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - The S&P 500 and the Nasdaq reversed early gains on Friday as an initial boost from data pointing to an easing in labor market conditions fizzled out, while shares of streaming firms tumbled amid a rate dispute between Disney and Charter Communications. BroadcomAVGO.O fell 6.2% as the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21.7% after the personal computer maker raised its annual forecasts for revenue and profit. "The jobs report was good for the market, but it isn't all that great because September is a difficult month (for stocks) generally," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Disney, Charter fall amid rates dispute Indexes: Dow up 0.03%, S&P down 0.11%, Nasdaq down 0.34% Updated at 12:03 p.m. ET/ 1603 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - The S&P 500 and the Nasdaq reversed early gains on Friday as an initial boost from data pointing to an easing in labor market conditions fizzled out, while shares of streaming firms tumbled amid a rate dispute between Disney and Charter Communications. BroadcomAVGO.O fell 6.2% as the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21.7% after the personal computer maker raised its annual forecasts for revenue and profit. The Labor Department's report showed the unemployment rate rose to 3.8% last month while wage growth slowed.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Disney, Charter fall amid rates dispute Indexes: Dow up 0.03%, S&P down 0.11%, Nasdaq down 0.34% Updated at 12:03 p.m. ET/ 1603 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - The S&P 500 and the Nasdaq reversed early gains on Friday as an initial boost from data pointing to an easing in labor market conditions fizzled out, while shares of streaming firms tumbled amid a rate dispute between Disney and Charter Communications. BroadcomAVGO.O fell 6.2% as the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21.7% after the personal computer maker raised its annual forecasts for revenue and profit. The nonfarm payrolls report caps a data-heavy week and has added to evidence of a slowing economy, boosting hopes that the Fed is close to ending its interst rate hikes.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Disney, Charter fall amid rates dispute Indexes: Dow up 0.03%, S&P down 0.11%, Nasdaq down 0.34% Updated at 12:03 p.m. ET/ 1603 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - The S&P 500 and the Nasdaq reversed early gains on Friday as an initial boost from data pointing to an easing in labor market conditions fizzled out, while shares of streaming firms tumbled amid a rate dispute between Disney and Charter Communications. BroadcomAVGO.O fell 6.2% as the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21.7% after the personal computer maker raised its annual forecasts for revenue and profit. The Labor Department's report showed the unemployment rate rose to 3.8% last month while wage growth slowed.
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2023-09-01 00:00:00 UTC
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Stocks Settle Mixed as Higher Bond Yields Undercut Tech Stocks
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DELL
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https://www.nasdaq.com/articles/stocks-settle-mixed-as-higher-bond-yields-undercut-tech-stocks
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What you need to know…
The S&P 500 Index ($SPX) (SPY) Friday closed up +0.18%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.33%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.07%.
Stocks on Friday settled mixed, with the S&P 500 climbing to a 4-week high. The broader market posted modest gains after Friday’s monthly U.S. payrolls report, which fueled speculation that the Fed will pause its rate hike campaign. Although monthly nonfarm payrolls rose slightly more than forecast, the August unemployment rate unexpectedly jumped to a 1-1/2 year high, and hourly earnings eased. However, stock indexes fell back from their best levels, and the Nasdaq 100 turned negative as tech stocks retreated after bond yields rose when the Aug ISM manufacturing index rose more than expected to a 6-month high.
Friday’s Fed comments were negative for stocks. Atlanta Fed President Bostic said that the U.S. economy faces a period of some disruption as debts are refinanced at significantly higher interest rates, putting some pressure on both financial institutions and the government. Also, Cleveland Fed President Mester said U.S. inflation remains "too high" despite recent improvements, and the labor market is still strong.
U.S. Aug nonfarm payrolls rose +187,000, stronger than expectations of +170,000. However, the August unemployment rate unexpectedly rose +0.3 to a 1-1/2 year high of 3.8%, showing a weaker labor market than expectations of no change at 3.5%.
U.S. Aug average hourly earnings eased to +4.3% y/y from +4.4% y/y in July, right on expectations.
The U.S. Aug ISM manufacturing index rose +1.2 to a 6-month high of 47.6, stronger than expectations of 47.0.
U.S. July construction spending rose +0.7% m/m, stronger than expectations of +0.5% m/m.
The markets are discounting the odds at only 7% for a +25 bp rate hike at the September 20 FOMC meeting and 38% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields Friday moved higher. The 10-year T-note yield recovered from a 3-week low of 4.054% and finished up +5.9 bp at 4.167%. The 10-year German bund yield rose +8.3 bp to 2.549%. The 10-year UK gilt yield recovered from a 3-week low of 4.334% and finished up +6.9 bp at 4.428%.
The China Aug Caixin manufacturing PMI unexpectedly rose +1.8 to 51.0, stronger than expectations of a decline to 49.0 and the fastest pace of expansion in 6 months.
Today’s stock movers…
HP Enterprise (HPE) closed up more than +5% to lead gainers in the S&P 500 index after analysts raised their price targets on the stock by an average of +3.5% since it reported better-than-expected earnings Tuesday.
Freeport-McMoRan (FCX) closed up more than +4% after the price of Comex copper Friday rallied to a 4-week high.
Intel (INTC) closed up more than +3%, adding to Thursday’s +1% gain to lead gainers in the Dow Jones Industrials after CEO Gelsinger said the company is on course to hit its Q3 forecasts, helped by an improving personal computer market.
Lululemon Athletica (LULU) closed up more than +5% to lead gainers in the Nasdaq 100 after reporting Q2 net revenue of $2.21 billion, better than the consensus of $2.17 billion, and raising its 2024 net revenue forecast to $9.51 billion-$9.57 billion from a prior forecast of $9.44 billion-$9.51 billion, stronger than the consensus of $9.50 billion.
Energy stocks and energy service providers rallied Friday after the price of WTI crude rose more than +2% to a 9-1/2 month high. As a result, Devon Energy (DVN) closed up more than +3%. Also, Exxon Mobil (XOM), Haliburton (HAL), ConocoPhillips (COP), APA Corp (APA), Phillips 66 (PSX), Marathon Oil (MRO), and Occidental Petroleum (OXY) closed up more than +2%. In addition, Baker Hughes (BKR), Chevron (CVX), Valero Energy (VLO), Marathon Petroleum (MPC), and Schlumberger (SLB) closed up more than +1%.
Dell Technologies (DELL) closed up more than +20% after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion.
Nutanix (NTNX) closed up more than +11% after reporting Q4 subscription revenue of $459.5 million, stronger than the consensus of $426.5 million, and forecasting 2024 annual contract billings of $1.08 billion-$1.10 billion, better than the consensus of $1.07 billion.
MongoDB (MDB) closed up more than +3% after reporting Q2 adjusted EPS of 93 cents, more than double the consensus of 46 cents, and raising its 2024 adjusted EPS forecast to $2.27-$2.35 from a previous estimate of $1.42-$1.56, well above the consensus of $1.53.
Illumina (ILMN) closed up more than +2% after Evercore ISI added the stock to its tactical outperform list.
Media stocks tumbled Friday due to Disney’s dispute with Charter Communications. Walt Disney pulled its video channels off Charter’s video networks because of a contract dispute. Charter is the second-largest cable provider in the U.S. As a result, Warner Bros Discovery (WBD) closed down more than -12% to lead losers in the S&P 500 and Nasdaq 100. Also, Paramount Global (PARA) closed down more than -9%, and Fox Corp (FOXA) closed down more than -5%. In addition, Charter Communications (CHTR) closed down more than -3%, and Walt Disney (DIS) closed down more than -2%.
Walgreens Boots Alliance (WBA) closed down more than -7% to lead losers in the Dow Jones Industrials after CEO Brewer stepped down effective immediately.
Dollar General (DG) closed down more than -5% after Evercore ISI downgraded the stock to inline from outperform.
Broadcom (AVGO) closed down more than -5% after forecasting Q4 revenue of $9.27 billion, below the consensus of $9.28 billion.
Tesla (TSLA) closed down more than -5% after cutting prices on several of its vehicle models in China.
VMware (VMW) closed down more than -2% after reporting Q2 revenue of $3.41 billion, below the consensus of $3.46 billion.
Across the markets…
December 10-year T-notes (ZNZ23) on Friday closed down -14.5 ticks, and the 10-year T-note yield rose +5.9 bp to 4.167%. T-note prices Friday retreated from a 3-week high and posted moderate losses after economic news showed an improvement in U.S. manufacturing activity when the Aug ISM manufacturing index rose to a 6-month high. Also, a rally in crude price Friday to a 9-1/2 month high lifted inflation expectations and weighed on T-notes. Early Friday, T-note prices initially saw support after the monthly U.S. payroll report showed the Aug unemployment rate unexpectedly rose to a 1-1/2 year high, a sign of a weaker labor market that is dovish for Fed policy.
More Stock Market News from Barchart
2 Growth Stocks to Buy on the Dip
Nat-Gas Prices Little Changed on Forecasts for Seasonal U.S. Temps
Crude Sharply Higher on Report Russia Will Extend Its Export Cuts
On the date of publication, Rich Asplund 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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Dell Technologies (DELL) closed up more than +20% after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. Atlanta Fed President Bostic said that the U.S. economy faces a period of some disruption as debts are refinanced at significantly higher interest rates, putting some pressure on both financial institutions and the government. Intel (INTC) closed up more than +3%, adding to Thursday’s +1% gain to lead gainers in the Dow Jones Industrials after CEO Gelsinger said the company is on course to hit its Q3 forecasts, helped by an improving personal computer market.
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Dell Technologies (DELL) closed up more than +20% after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. Although monthly nonfarm payrolls rose slightly more than forecast, the August unemployment rate unexpectedly jumped to a 1-1/2 year high, and hourly earnings eased. Lululemon Athletica (LULU) closed up more than +5% to lead gainers in the Nasdaq 100 after reporting Q2 net revenue of $2.21 billion, better than the consensus of $2.17 billion, and raising its 2024 net revenue forecast to $9.51 billion-$9.57 billion from a prior forecast of $9.44 billion-$9.51 billion, stronger than the consensus of $9.50 billion.
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Dell Technologies (DELL) closed up more than +20% after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. What you need to know… The S&P 500 Index ($SPX) (SPY) Friday closed up +0.18%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.33%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.07%. However, stock indexes fell back from their best levels, and the Nasdaq 100 turned negative as tech stocks retreated after bond yields rose when the Aug ISM manufacturing index rose more than expected to a 6-month high.
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Dell Technologies (DELL) closed up more than +20% after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. The China Aug Caixin manufacturing PMI unexpectedly rose +1.8 to 51.0, stronger than expectations of a decline to 49.0 and the fastest pace of expansion in 6 months. Energy stocks and energy service providers rallied Friday after the price of WTI crude rose more than +2% to a 9-1/2 month high.
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2023-09-01 00:00:00 UTC
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US STOCKS-S&P 500 ends higher as jobs data fuels rate-hike optimism
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DELL
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https://www.nasdaq.com/articles/us-stocks-sp-500-ends-higher-as-jobs-data-fuels-rate-hike-optimism-0
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By Shristi Achar A and Noel Randewich
Sept 1 (Reuters) - The S&P 500 .SPXended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications.
The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.
The data added to recent macroeconomic evidence that the Federal Reserve is winning its battle against inflation, and it cemented expectations the central bank is near the end of its interest rate hiking cycle.
"The data makes the case for the Fed becoming more dovish as we head into the fall. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
Interest rate futures suggest traders see a 93% chance the Fed will keep interest rates unchanged at its meeting later this month, according to CME's FedWatch tool.
Walt Disney DIS.Ndropped 2.4% and Charter Communications CHTR.Ofell 3.6% after the companies traded salvos over an unresolved distribution agreement after several channels, including ESPN, went dark on Thursday for customers of Charter's Spectrum cable service.
Other streaming companies also fell, with Warner Bros Discovery WBD.O slumping 12%, Paramount Global PARA.O losing 9.5% and Fox Corp FOX.O down nearly 6%.
The most traded stock in the S&P 500 was Tesla Inc TSLA.OQ, with $32.6 billion worth of shares exchanged during the session. The shares declined 5% after the EV maker cut prices for its Model S and Model X vehicles in the U.S.
Unofficially, the S&P 500 climbed 0.18% to end at 4,515.77 points.
The Nasdaq .IXIC declined 0.02% to 14,031.82 points, while Dow Jones Industrial Average .DJI rose 0.33% to 34,837.71 points.
Of the 11 S&P 500 sector indexes, six rose, led by energy .SPNY, up 2.05%, followed by a 1.01% gain in materials .SPLRCM.
Volume on U.S. exchanges was relatively light, with 8.9 billion shares traded, compared to an average of 10.4 billion shares over the previous 20 sessions.
For the week, the S&P 500 rose 2.50%, the Dow added 1.43% and the Nasdaq climbed 3.25%.
The U.S. stock market will remain closed on Monday for the Labor Day holiday.
BroadcomAVGO.O fell 5.5% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit.
Lululemon AthleticaLULU.O gained 6% after the yogawear maker lifted its annual profit and revenue forecasts for a second time.
Walgreens Boots AllianceWBA.Ofell 7.4% after the pharmacy chain said CEO Rosalind Brewer had stepped down.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 2.1-to-one ratio.
The S&P 500 posted 28 new highs and 20 new lows; the Nasdaq recorded 84 new highs and 90 new lows.
Federal Reserve's data-dependent journey in 2023 https://tmsnrt.rs/3Z24x84
S&P 500 components so far in 2023 https://tmsnrt.rs/3szu5O2
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru, and by Noel Randewich in Oakland, California; Additional reporting by Sruthi Shankar; Editing by Shounak Dasgupta and Richard Chang)
((noel.randewich@tr.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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BroadcomAVGO.O fell 5.5% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. The data added to recent macroeconomic evidence that the Federal Reserve is winning its battle against inflation, and it cemented expectations the central bank is near the end of its interest rate hiking cycle. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
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BroadcomAVGO.O fell 5.5% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - The S&P 500 .SPXended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. The Nasdaq .IXIC declined 0.02% to 14,031.82 points, while Dow Jones Industrial Average .DJI rose 0.33% to 34,837.71 points.
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BroadcomAVGO.O fell 5.5% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - The S&P 500 .SPXended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. The data added to recent macroeconomic evidence that the Federal Reserve is winning its battle against inflation, and it cemented expectations the central bank is near the end of its interest rate hiking cycle.
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BroadcomAVGO.O fell 5.5% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - The S&P 500 .SPXended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.
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2023-09-01 00:00:00 UTC
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US STOCKS-S&P 500 ends higher as jobs data fuels rate-hike optimism
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DELL
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https://www.nasdaq.com/articles/us-stocks-sp-500-ends-higher-as-jobs-data-fuels-rate-hike-optimism
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nan
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nan
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By Shristi Achar A and Noel Randewich
Sept 1 (Reuters) - The S&P 500 ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications.
The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.
The data added to recent macroeconomic evidence that the Federal Reserve is winning its battle against inflation, and it cemented expectations the central bank is near the end of its interest rate hiking cycle.
"The data makes the case for the Fed becoming more dovish as we head into the fall. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
Interest rate futures suggest traders see a 93% chance the Fed will keep interest rates unchanged at its meeting later this month, according to CME's FedWatch tool.
Walt Disney DIS.N and Charter Communications CHTR.Ofell after the companies traded salvos over an unresolved distribution agreement after several channels, including ESPN, went dark on Thursday for customers of Charter's Spectrum cable service.
Other streaming companies also fell, including Warner Bros Discovery WBD.O, Paramount Global PARA.O and Fox Corp FOX.O.
Tesla > dropped after the EV maker cut prices for its Model S and Model X vehicles in the U.S.
Unofficially, the S&P 500 climbed 0.18% to end the session at 4,515.74 points.
The Nasdaq declined 0.02% to 14,031.82 points, while Dow Jones Industrial Average rose 0.34% to 34,838.47 points.
The U.S. stock market will remain closed on Monday for the Labor Day holiday.
BroadcomAVGO.Ofell after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.Nsurged after the personal computer maker raised its annual forecasts for revenue and profit.
Lululemon AthleticaLULU.Ogained after the yogawear maker lifted its annual profit and revenue forecasts for a second time.
Walgreens Boots AllianceWBA.Oslipped after the pharmacy chain said CEO Rosalind Brewer had stepped down.
Federal Reserve's data-dependent journey in 2023 https://tmsnrt.rs/3Z24x84
S&P 500 components so far in 2023 https://tmsnrt.rs/3szu5O2
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru, and by Noel Randewich in Oakland, California; Additional reporting by Sruthi Shankar; Editing by Shounak Dasgupta and Richard Chang)
((noel.randewich@tr.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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BroadcomAVGO.Ofell after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.Nsurged after the personal computer maker raised its annual forecasts for revenue and profit. The data added to recent macroeconomic evidence that the Federal Reserve is winning its battle against inflation, and it cemented expectations the central bank is near the end of its interest rate hiking cycle. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
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BroadcomAVGO.Ofell after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.Nsurged after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - The S&P 500 ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. Lululemon AthleticaLULU.Ogained after the yogawear maker lifted its annual profit and revenue forecasts for a second time.
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BroadcomAVGO.Ofell after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.Nsurged after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - The S&P 500 ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. The data added to recent macroeconomic evidence that the Federal Reserve is winning its battle against inflation, and it cemented expectations the central bank is near the end of its interest rate hiking cycle.
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BroadcomAVGO.Ofell after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.Nsurged after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - The S&P 500 ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed.
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270fb109-2890-445a-9ddd-0254b0201529
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725387.0
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2023-09-01 00:00:00 UTC
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Technology Sector Update for 09/01/2023: NTNX, DELL, AVGO, IOT, NVDA
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DELL
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https://www.nasdaq.com/articles/technology-sector-update-for-09-01-2023%3A-ntnx-dell-avgo-iot-nvda
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nan
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nan
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Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.1% and the Philadelphia Semiconductor index adding 0.3%.
In corporate news, Nutanix (NTNX) shares rose past 13%. The company late Thursday reported fiscal Q4 non-GAAP earnings of $0.24 per share, compared with a per-share loss of $0.17 a year earlier. Analysts polled by Capital IQ expected EPS of $0.16. Nutanix also approved a repurchase program of up to $350 million of its class A shares.
Dell (DELL) shares jumped almost 22% after fiscal Q2 results topped estimates by analysts.
Broadcom (AVGO) shares fell 5%. The company's fiscal Q4 outlook disappointed investors and paled in comparison to rival Nvidia's (NVDA) stellar guidance.
Samsara (IOT) shares rose more than 12% after price target increases by BMO Capital, Wells Fargo, RBC, and Morgan Stanley followed fiscal Q2 earnings and revenue above consensus estimates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell (DELL) shares jumped almost 22% after fiscal Q2 results topped estimates by analysts. Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.1% and the Philadelphia Semiconductor index adding 0.3%. The company late Thursday reported fiscal Q4 non-GAAP earnings of $0.24 per share, compared with a per-share loss of $0.17 a year earlier.
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Dell (DELL) shares jumped almost 22% after fiscal Q2 results topped estimates by analysts. In corporate news, Nutanix (NTNX) shares rose past 13%. The company late Thursday reported fiscal Q4 non-GAAP earnings of $0.24 per share, compared with a per-share loss of $0.17 a year earlier.
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Dell (DELL) shares jumped almost 22% after fiscal Q2 results topped estimates by analysts. The company late Thursday reported fiscal Q4 non-GAAP earnings of $0.24 per share, compared with a per-share loss of $0.17 a year earlier. Samsara (IOT) shares rose more than 12% after price target increases by BMO Capital, Wells Fargo, RBC, and Morgan Stanley followed fiscal Q2 earnings and revenue above consensus estimates.
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Dell (DELL) shares jumped almost 22% after fiscal Q2 results topped estimates by analysts. Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.1% and the Philadelphia Semiconductor index adding 0.3%. In corporate news, Nutanix (NTNX) shares rose past 13%.
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fd1ac2a9-fbc7-4623-b797-41bd6877a333
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725388.0
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2023-09-01 00:00:00 UTC
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Why Dell (DELL) Stock Is Seeing Unusual Volume
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DELL
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https://www.nasdaq.com/articles/why-dell-dell-stock-is-seeing-unusual-volume
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nan
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nan
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D
ell (DELL) is included in the up on most unusual volume and has a higher volume of trading today; looking at news for Dell we have ranked in order of importance for why they are included.
1. Here's Why Dell Stock Is Hitting New All-Time Highs Today
This headline is the most specific and relevant to the increase in trading volume for Dell. It specifically mentions that Dell stock is hitting new all-time highs, which is a strong indicator of investor interest.
2. Technology Sector Update for 09/01/2023: DELL, AVGO, IOT, NVDA
This headline is also relevant because it includes Dell in a list of technology stocks that are being discussed. This suggests that investors are paying attention to Dell and its performance.
3. Stocks Mixed as Higher Bond Yields Weigh on Tech Stocks
This headline is less directly relevant, but it is still worth considering. The rising bond yields could be putting some downward pressure on tech stocks, this could be seen as a positive sign by investors.
Overall, the most likely explanation for the increase in trading volume for Dell is the article that its stock is hitting new all-time high. The other headlines are also relevant, but they are less significant.
Here are some additional things to consider:
Dell recently reported earnings results, which could be another reason for the increase in trading volume.
Disclaimer
Please be aware that part of this content has been automatically generated by an Artificial Intelligence language model and is intended to provide general information for educational purposes only. While Nasdaq endeavors to verify this content, please note that this AI-generated information is provided without any warranties or guarantees of accuracy.
The views and opinions expressed herein do not necessarily reflect those of Nasdaq, Inc., and Nasdaq strongly encourages you to seek professional guidance and verify the information independently before making decisions based on this content. Nasdaq disclaims any liability for damages, or losses, resulting from the use or reliance on this content.
The views and 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 specifically mentions that Dell stock is hitting new all-time highs, which is a strong indicator of investor interest. Here are some additional things to consider: Dell recently reported earnings results, which could be another reason for the increase in trading volume. ell (DELL) is included in the up on most unusual volume and has a higher volume of trading today; looking at news for Dell we have ranked in order of importance for why they are included.
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Here's Why Dell Stock Is Hitting New All-Time Highs Today This headline is the most specific and relevant to the increase in trading volume for Dell. ell (DELL) is included in the up on most unusual volume and has a higher volume of trading today; looking at news for Dell we have ranked in order of importance for why they are included. It specifically mentions that Dell stock is hitting new all-time highs, which is a strong indicator of investor interest.
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Here's Why Dell Stock Is Hitting New All-Time Highs Today This headline is the most specific and relevant to the increase in trading volume for Dell. Technology Sector Update for 09/01/2023: DELL, AVGO, IOT, NVDA This headline is also relevant because it includes Dell in a list of technology stocks that are being discussed. ell (DELL) is included in the up on most unusual volume and has a higher volume of trading today; looking at news for Dell we have ranked in order of importance for why they are included.
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Here's Why Dell Stock Is Hitting New All-Time Highs Today This headline is the most specific and relevant to the increase in trading volume for Dell. ell (DELL) is included in the up on most unusual volume and has a higher volume of trading today; looking at news for Dell we have ranked in order of importance for why they are included. It specifically mentions that Dell stock is hitting new all-time highs, which is a strong indicator of investor interest.
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a5543fd1-370d-4477-a8f8-8f26d1fd0a52
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725389.0
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2023-09-01 00:00:00 UTC
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US STOCKS-Wall Street mixed as jobs data fuels rate-hike optimism
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DELL
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https://www.nasdaq.com/articles/us-stocks-wall-street-mixed-as-jobs-data-fuels-rate-hike-optimism
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nan
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nan
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By Shristi Achar A and Noel Randewich
Sept 1 (Reuters) - Wall Street stocks were near unchanged on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications.
The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.
"The data makes the case for the Fed becoming more dovish as we head into the fall. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
Interest rate futures suggest traders see a 93% chance the Fed will keep interest rates unchanged at its meeting later this month, according to CME's FedWatch tool.
Walt Disney DIS.N and Charter Communications CHTR.O each fell more than 2% after the companies traded salvos over an unresolved distribution agreement after several channels, including ESPN, went dark on Thursday for customers of Charter's Spectrum cable service.
Other streaming companies also fell, with Warner Bros Discovery WBD.O, Paramount Global PARA.O and Fox Corp FOX.O tumbling between 5% and 10%. That dragged the S&P 500 communication services sector .SPLRCL 0.6% lower.
The most traded stock in the S&P 500 .SPX was Tesla TSLA.OQ, with $23 billion worth of shares exchanged during the session. Its shares dropped 5% after the EV maker cut prices for its Model S and Model X vehicles in the U.S.
The S&P 500 was up 0.06% at 4,510.51 points.
The Nasdaq declined 0.10% to 14,020.42 points, while the Dow Jones Industrial Average was up 0.19% at 34,787.35 points.
All three main U.S. stock indexes are on track to post weekly gains, with the tech-heavy Nasdaq .IXIC up about 3% so far this week.
BroadcomAVGO.O fell 5.2% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit.
Lululemon AthleticaLULU.O gained 5.5% after the yogawear maker lifted its annual profit and revenue forecasts for a second time.
Walgreens Boots AllianceWBA.O slipped 6.6% after the pharmacy chain said CEO Rosalind Brewer had stepped down.
Federal Reserve's data-dependent journey in 2023 https://tmsnrt.rs/3Z24x84
S&P 500 components so far in 2023 https://tmsnrt.rs/3szu5O2
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru, and by Noel Randewich in Oakland, California; Additional reporting by Sruthi Shankar; Editing by Shounak Dasgupta and Richard Chang)
((noel.randewich@tr.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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BroadcomAVGO.O fell 5.2% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - Wall Street stocks were near unchanged on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
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BroadcomAVGO.O fell 5.2% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - Wall Street stocks were near unchanged on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. Lululemon AthleticaLULU.O gained 5.5% after the yogawear maker lifted its annual profit and revenue forecasts for a second time.
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BroadcomAVGO.O fell 5.2% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - Wall Street stocks were near unchanged on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. Walt Disney DIS.N and Charter Communications CHTR.O each fell more than 2% after the companies traded salvos over an unresolved distribution agreement after several channels, including ESPN, went dark on Thursday for customers of Charter's Spectrum cable service.
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BroadcomAVGO.O fell 5.2% after the chipmaker projected current-quarter revenue below expectations, while Dell TechnologiesDELL.N surged 21% after the personal computer maker raised its annual forecasts for revenue and profit. By Shristi Achar A and Noel Randewich Sept 1 (Reuters) - Wall Street stocks were near unchanged on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. "The data makes the case for the Fed becoming more dovish as we head into the fall.
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0f2ab2f4-0c7c-4734-af9b-75039c6fd90b
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725390.0
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2023-09-01 00:00:00 UTC
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Dell shares hit record high after report, forecasts impress with AI in mix
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DELL
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https://www.nasdaq.com/articles/dell-shares-hit-record-high-after-report-forecasts-impress-with-ai-in-mix
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nan
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nan
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Sept 1 (Reuters) - Shares in Dell Technologies Inc DELL.N rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump.
The stock last traded at $68.75 after hitting a peak of $70.28 while trading volume was 5.4 times its 10-day moving average. Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date.
"Results and guidance corroborated the improving order trends in the broader enterprise vertical" said JPMorgan analyst Samik Chatterjee, in a research note.
Dell added to evidence of this trend from CDW Group CDW.O, Cisco Systems CSCO.O and Hewlett Packard Enterprises HPE.N, according to the analyst.
Dell reported second quarter revenue and EPS above analyst estimates. Servers and networking revenue rose 11% from the first quarter to $4.27 billion, driven by higher demand for AI-optimized servers, Dell said.
While JPMorgan's Chatterjee does not see AI as a primary driver the analyst wrote that "it is helping in the visibility of a recovery with Dell highlighting that 20% of AI orders (in revenues) were for AI-based servers."
At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI.
The median price target increased to $68 on Friday from $56 on Aug. 1, Refinitiv data showed.
Included in the more bullish views was Wells Fargo's increase of the target to $75 from $65 and Citigroup's increase to $70 from $60. JPMorgan raised its target to $68 from $61.
(Reporting By Sinéad Carew; editing by Lance Tupper)
((sinead.carew@thomsonreuters.com; +13322191897;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 1 (Reuters) - Shares in Dell Technologies Inc DELL.N rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump. At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI. Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date.
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Dell reported second quarter revenue and EPS above analyst estimates. At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI. Sept 1 (Reuters) - Shares in Dell Technologies Inc DELL.N rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump.
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Sept 1 (Reuters) - Shares in Dell Technologies Inc DELL.N rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump. While JPMorgan's Chatterjee does not see AI as a primary driver the analyst wrote that "it is helping in the visibility of a recovery with Dell highlighting that 20% of AI orders (in revenues) were for AI-based servers." At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI.
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At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI. Sept 1 (Reuters) - Shares in Dell Technologies Inc DELL.N rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump. Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date.
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033307a4-65c1-4782-ac24-0c0f00de4634
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725391.0
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2023-09-01 00:00:00 UTC
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US STOCKS-Wall St gains after data point to softening labor market
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DELL
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https://www.nasdaq.com/articles/us-stocks-wall-st-gains-after-data-point-to-softening-labor-market
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Unemployment rate rises in August
Job additions stronger than expected
Broadcom slips on downbeat revenue outlook
Dell gains on raising full-year forecasts
Indexes up: Dow 0.66%, S&P 0.57%, Nasdaq 0.38%
Updated at 10:12 a.m ET/1412 GMT
By Shristi Achar A and Amruta Khandekar
Sept 1 (Reuters) - Wall Street's main indexes rose on Friday after a closely watched report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes.
The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
Nonfarm payrolls increased by 187,000 jobs in August, against expectations of 170,000 additions, according to a Reuters poll of economists. Data for July was revised to show 157,000 job additions instead of the 187,000 additions reported before.
Traders' bets that the Fed will keep rates unchanged in September stood at 93%, while bets of a pause in November rose to 63% after the jobs report, compared with 44.5% a week earlier, according to CME Group's FedWatch tool.
"The data is pretty mixed. The initial reaction up is because the market has been very focused on not seeing any outliers that suggest rate rises are likely to keep coming," said Rick Meckler, partner at Cherry Lane Investments.
"I think these numbers probably put the Fed back on path for one more rate rise and then that's it."
The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market.
An inflation reading had also supported hopes of the Fed hitting a pause on its market-punishing tightening campaign, pushing the tech-heavy Nasdaq .IXIC up to a four-week high on Thursday.
A survey by the Institute for Supply Management on Friday showed U.S. manufacturing contracted for a tenth straight month in August.
At 10:12 a.m. ET, the Dow Jones Industrial Average .DJI was up 228.36 points, or 0.66%, at 34,950.27, the S&P 500 .SPX was up 25.49 points, or 0.57%, at 4,533.15, and the Nasdaq Composite .IXIC was up 53.69 points, or 0.38%, at 14,088.66.
Disney DIS.N and Charter Communications CHTR.O slipped 2.0% and 2.6%, respectively, dragging the broader communication services sector .SPLRCL 0.1% lower.
The stocks fell after the two companies traded salvos over their unresolved distribution agreement after channels like ESPN went dark on Thursday for customers of Charter's Spectrum cable service.
BroadcomAVGO.O fell 4.5% as the chipmaker projected current-quarter revenue below expectations on softening enterprise demand.
Dell TechnologiesDELL.N surged 21.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom.
Lululemon AthleticaLULU.O gained 4% after the yogawear maker said on Thursday its third quarter was "off to a solid start" and lifted its annual profit and revenue forecasts for a second time.
Walgreens Boots AllianceWBA.O slipped 2.9% after the pharmacy chain said CEO Rosalind Brewer has stepped down.
Advancing issues outnumbered decliners for a 3.61-to-1 ratio on the NYSE and a 2.70-to-1 ratio on the Nasdaq.
The S&P index recorded 23 new 52-week highs and four new lows, while the Nasdaq recorded 59 new highs and 34 new lows.
Federal Reserve's data-dependent journey in 2023 https://tmsnrt.rs/3Z24x84
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Shounak Dasgupta)
((Shristi.AcharA@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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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Indexes up: Dow 0.66%, S&P 0.57%, Nasdaq 0.38% Updated at 10:12 a.m ET/1412 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street's main indexes rose on Friday after a closely watched report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N surged 21.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Indexes up: Dow 0.66%, S&P 0.57%, Nasdaq 0.38% Updated at 10:12 a.m ET/1412 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street's main indexes rose on Friday after a closely watched report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N surged 21.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Indexes up: Dow 0.66%, S&P 0.57%, Nasdaq 0.38% Updated at 10:12 a.m ET/1412 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street's main indexes rose on Friday after a closely watched report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N surged 21.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Indexes up: Dow 0.66%, S&P 0.57%, Nasdaq 0.38% Updated at 10:12 a.m ET/1412 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street's main indexes rose on Friday after a closely watched report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N surged 21.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
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3d4796db-1915-41e1-84be-76410104501c
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725392.0
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2023-09-01 00:00:00 UTC
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Technology Sector Update for 09/01/2023: DELL, AVGO, IOT, NVDA
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DELL
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https://www.nasdaq.com/articles/technology-sector-update-for-09-01-2023%3A-dell-avgo-iot-nvda
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nan
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nan
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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 adding 0.4%.
In company news, Dell (DELL) shares jumped 22% after fiscal Q2 results topped estimates by analysts.
Broadcom (AVGO) shares fell 5.4%. The company's fiscal Q4 outlook disappointed investors and paled in comparison to rival Nvidia's (NVDA) stellar guidance.
Samsara (IOT) shares rose 12% after price target increases by BMO Capital, Wells Fargo, RBC and Morgan Stanley followed fiscal Q2 earnings and revenue above consensus estimates.
The views and 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 company news, Dell (DELL) shares jumped 22% after fiscal Q2 results topped estimates by analysts. Tech stocks were higher Friday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor index adding 0.4%. The company's fiscal Q4 outlook disappointed investors and paled in comparison to rival Nvidia's (NVDA) stellar guidance.
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In company news, Dell (DELL) shares jumped 22% after fiscal Q2 results topped estimates by analysts. The company's fiscal Q4 outlook disappointed investors and paled in comparison to rival Nvidia's (NVDA) stellar guidance. The views and 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 company news, Dell (DELL) shares jumped 22% after fiscal Q2 results topped estimates by analysts. Samsara (IOT) shares rose 12% after price target increases by BMO Capital, Wells Fargo, RBC and Morgan Stanley followed fiscal Q2 earnings and revenue above consensus estimates. The views and 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 company news, Dell (DELL) shares jumped 22% after fiscal Q2 results topped estimates by analysts. Tech stocks were higher Friday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor index adding 0.4%. Broadcom (AVGO) shares fell 5.4%.
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91bdda4f-1343-453c-a144-fdd27e8ba106
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725393.0
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2023-09-01 00:00:00 UTC
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Here's Why Dell Stock Is Hitting New All-Time Highs Today
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DELL
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https://www.nasdaq.com/articles/heres-why-dell-stock-is-hitting-new-all-time-highs-today
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nan
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nan
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What happened
When your top rival lowers its full-year outlook, investors take notice if you subsequently raise your own. That's what's happening for computing company Dell Technologies (NYSE: DELL) today. Its financial results for its fiscal second quarter of 2024 far outpaced expectations, which led management to raise its guidance for the remainder of fiscal 2024. Consequently, Dell stock is up a whopping 23% as of 10:30 a.m. ET, reaching new all-time highs.
So what
Rival HP set the tone for this earnings report: HP stock fell earlier this week when it reported disappointing numbers for its fiscal third quarter of 2023 and lowered its full-year guidance.
To be fair, Dell's Q2 revenue of $22.9 billion was down 13% year over year, more than HP's 10% drop in its Q3. But investors believe Dell's business has better momentum right now.
For Q2, Wall Street had expected Dell to report revenue of less than $21 billion, so this was a big beat. Moreover, management's commentary was exactly what investors want to hear right now. In its prepared remarks, management mentioned artificial intelligence (AI) 18 times, calling it a "strong tailwind."
Now what
Dell's management raised its full-year revenue guidance to between $89.5 billion and $91.5 billion, but this still represents a 12% drop from fiscal 2023. However, management does expect its earnings per share to bounce back -- they were challenged last year.
For the year, Dell hopes to earn roughly $6.30 per share. That's way higher than the $3.24 per share it earned in fiscal 2023 and modestly higher than the $6.26 per share it earned in fiscal 2022.
In short, Dell's business is rebounding after a challenging fiscal 2023. And with AI driving its potential, Wall Street is getting excited about this stock.
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Jon Quast has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends HP. 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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That's what's happening for computing company Dell Technologies (NYSE: DELL) today. Consequently, Dell stock is up a whopping 23% as of 10:30 a.m. To be fair, Dell's Q2 revenue of $22.9 billion was down 13% year over year, more than HP's 10% drop in its Q3.
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For Q2, Wall Street had expected Dell to report revenue of less than $21 billion, so this was a big beat. Now what Dell's management raised its full-year revenue guidance to between $89.5 billion and $91.5 billion, but this still represents a 12% drop from fiscal 2023. That's what's happening for computing company Dell Technologies (NYSE: DELL) today.
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Now what Dell's management raised its full-year revenue guidance to between $89.5 billion and $91.5 billion, but this still represents a 12% drop from fiscal 2023. That's what's happening for computing company Dell Technologies (NYSE: DELL) today. Consequently, Dell stock is up a whopping 23% as of 10:30 a.m.
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To be fair, Dell's Q2 revenue of $22.9 billion was down 13% year over year, more than HP's 10% drop in its Q3. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Dell Technologies wasn't one of them! That's what's happening for computing company Dell Technologies (NYSE: DELL) today.
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b8cea63a-8e07-402a-b6b8-ee91ff11a26d
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725394.0
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2023-09-01 00:00:00 UTC
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Technology Sector Update for 09/01/2023: NTNX, DELL, ESTC, XLK, XSD
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DELL
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https://www.nasdaq.com/articles/technology-sector-update-for-09-01-2023%3A-ntnx-dell-estc-xlk-xsd
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nan
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nan
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Technology stocks were climbing pre-bell Friday with the Technology Select Sector SPDR Fund (XLK) recently up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was 2.6% higher.
Nutanix (NTNX) was gaining over 16% in value after it reported fiscal Q4 non-GAAP earnings of $0.24 per diluted share, compared with a loss of $0.17 a year earlier. Analysts polled by Capital IQ expected earnings of $0.16 normalized.
Dell Technologies (DELL) was rallying by more than 12% after it reported fiscal Q2 2024 non-GAAP earnings per diluted share of $1.74, up from $1.68 a year ago. Analysts polled by Capital IQ expected a normalized EPS of $1.14.
Elastic (ESTC) was 15% higher after it reported fiscal Q1 non-GAAP earnings of $0.25 per diluted share, swinging from a loss of $0.15 a year earlier. Analysts surveyed by Capital IQ expected normalized earnings of $0.11.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies (DELL) was rallying by more than 12% after it reported fiscal Q2 2024 non-GAAP earnings per diluted share of $1.74, up from $1.68 a year ago. Technology stocks were climbing pre-bell Friday with the Technology Select Sector SPDR Fund (XLK) recently up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was 2.6% higher. Nutanix (NTNX) was gaining over 16% in value after it reported fiscal Q4 non-GAAP earnings of $0.24 per diluted share, compared with a loss of $0.17 a year earlier.
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Dell Technologies (DELL) was rallying by more than 12% after it reported fiscal Q2 2024 non-GAAP earnings per diluted share of $1.74, up from $1.68 a year ago. Analysts polled by Capital IQ expected earnings of $0.16 normalized. Elastic (ESTC) was 15% higher after it reported fiscal Q1 non-GAAP earnings of $0.25 per diluted share, swinging from a loss of $0.15 a year earlier.
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Dell Technologies (DELL) was rallying by more than 12% after it reported fiscal Q2 2024 non-GAAP earnings per diluted share of $1.74, up from $1.68 a year ago. Nutanix (NTNX) was gaining over 16% in value after it reported fiscal Q4 non-GAAP earnings of $0.24 per diluted share, compared with a loss of $0.17 a year earlier. Elastic (ESTC) was 15% higher after it reported fiscal Q1 non-GAAP earnings of $0.25 per diluted share, swinging from a loss of $0.15 a year earlier.
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Dell Technologies (DELL) was rallying by more than 12% after it reported fiscal Q2 2024 non-GAAP earnings per diluted share of $1.74, up from $1.68 a year ago. Technology stocks were climbing pre-bell Friday with the Technology Select Sector SPDR Fund (XLK) recently up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was 2.6% higher. Nutanix (NTNX) was gaining over 16% in value after it reported fiscal Q4 non-GAAP earnings of $0.24 per diluted share, compared with a loss of $0.17 a year earlier.
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3dfc9faa-b2a1-4ddb-abed-352263816844
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725395.0
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2023-09-01 00:00:00 UTC
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US STOCKS-Wall St set for higher open after data point to softening labor market
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DELL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-for-higher-open-after-data-point-to-softening-labor-market
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Unemployment rate rises in August
Job additions stronger than expected
Broadcom slips on downbeat revenue outlook
Dell gains on raising full-year forecasts
Futures up: Dow 0.39%, S&P 0.49%, Nasdaq 0.52%
Updated at 8:45 a.m. ET/1245 GMT
By Shristi Achar A and Amruta Khandekar
Sept 1 (Reuters) - Wall Street was set to open higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes.
The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
Nonfarm payrolls increased by 187,000 jobs in August, against expectations of 170,000 additions, according to a Reuters poll of economists. Data for July was revised to show 157,000 job additions instead of the 187,000 additions reported before.
Following the data, traders added to bets that the Fed is finished raising its policy rate for the rest of the year, and will start cutting interest rates next year.
"The data is pretty mixed. The initial reaction up is because the market has been very focused on not seeing any outliers that suggest rate rises are likely to keep coming," said Rick Meckler, partner at Cherry Lane Investments.
"I think these numbers probably put the Fed back on path for one more rate rise and then that's it."
U.S. Treasury yields extended declines after the reading, with the yield on the 10-year note last at 4.08%.
The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market.
An inflation reading had also supported hopes of the Fed hitting a pause on its market-punishing tightening campaign, pushing the tech-heavy Nasdaq .IXIC up to a four-week high on Thursday.
Other data points are also on the radar for Friday, with the S&P Global Manufacturing Final PMI due at 9:45 a.m. ET and the ISM Manufacturing PMI due at 10 a.m. ET. Both readings are for August.
BroadcomAVGO.O fell 2.8% premarket as the chipmaker projected current-quarter revenue below expectations on softening enterprise demand.
At 8:45 a.m. ET, Dow e-minis 1YMcv1 were up 134 points, or 0.39%, S&P 500 e-minis EScv1 were up 22.25 points, or 0.49%, and Nasdaq 100 e-minis NQcv1 were up 80.5 points, or 0.52%.
Dell TechnologiesDELL.N jumped 11.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom.
Lululemon AthleticaLULU.O gained 2.6% after the yogawear maker said on Thursday its third quarter was "off to a solid start" and lifted its annual profit and revenue forecasts for a second time.
Shares of Walgreens Boots AllianceWBA.O slipped 0.6% after the pharmacy chain said CEO Rosalind Brewer has stepped down.
Federal Reserve's data-dependent journey in 2023 https://tmsnrt.rs/3Z24x84
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Additional reporting by Sruthi Shankar; Editing by Shounak Dasgupta)
((Shristi.AcharA@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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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Futures up: Dow 0.39%, S&P 0.49%, Nasdaq 0.52% Updated at 8:45 a.m. ET/1245 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street was set to open higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N jumped 11.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Futures up: Dow 0.39%, S&P 0.49%, Nasdaq 0.52% Updated at 8:45 a.m. ET/1245 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street was set to open higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N jumped 11.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Futures up: Dow 0.39%, S&P 0.49%, Nasdaq 0.52% Updated at 8:45 a.m. ET/1245 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street was set to open higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N jumped 11.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Unemployment rate rises in August Job additions stronger than expected Broadcom slips on downbeat revenue outlook Dell gains on raising full-year forecasts Futures up: Dow 0.39%, S&P 0.49%, Nasdaq 0.52% Updated at 8:45 a.m. ET/1245 GMT By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - Wall Street was set to open higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes. Dell TechnologiesDELL.N jumped 11.9% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. Other data points are also on the radar for Friday, with the S&P Global Manufacturing Final PMI due at 9:45 a.m.
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3ff98471-04b6-429c-bd61-d54ca1483679
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725396.0
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2023-09-01 00:00:00 UTC
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Markets Today: Stocks Climb as U.S. Payrolls Report May Prompt a Fed Pause
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DELL
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https://www.nasdaq.com/articles/markets-today%3A-stocks-climb-as-u.s.-payrolls-report-may-prompt-a-fed-pause
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nan
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nan
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Morning Markets
September E-Mini S&P 500 futures (ESU23) this morning are up +0.52%, and Sep Nasdaq 100 E-Mini futures (NQU23) are up +0.54%, both at 4-week highs.
Stock indexes this morning are moderately higher and extended overnight gains as bond yields fell after this morning’s monthly U.S. payrolls report fueled speculation the Fed will pause its rate hike campaign. Although monthly nonfarm payrolls rose slightly more than forecast, the August unemployment rate unexpectedly jumped to a 1-1/2 year high, and hourly earnings eased.
U.S. Aug nonfarm payrolls rose +187,000, stronger than expectations of +170,000. However, the August unemployment rate unexpectedly rose +0.3 to a 1-1/2 year high of 3.8%, showing a weaker labor market than expectations of no change at 3.5%.
U.S. Aug average hourly earnings eased to +4.3% y/y from +4.4% y/y in July, right on expectations.
A negative for stocks was today’s warning from Atlanta Fed President Bostic that the U.S. economy faces a period of some disruption as debts are refinanced at significantly higher interest rates, putting some pressure on both financial institutions and the government.
The markets are discounting the odds at only 7% for a +25 bp rate hike at the September 20 FOMC meeting and 38% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield fell to a 3-week low of 4.054% and is down -2.5 bp at 4.083%. The 10-year German bund yield is up +0.3 bp at 2.469%. The 10-year UK gilt yield fell to a 3-week low of 4.334% and is down -0.9 bp at 4.351%.
Overseas stock markets are higher. The Euro Stoxx 50 is up +0.27%. China’s Shanghai Composite Index closed up +0.43%. Japan’s Nikkei Stock Index closed up +0.28%.
The Euro Stoxx 50 recovered from early losses and is moderately higher. Strength in energy stocks is leading the overall market higher, with crude prices climbing to a 3-1/2 week high. Also, an easing of producer price pressures in Europe is supportive for stocks after Italy July PPI fell by a record -13.8% y/y. The Euro Stoxx 50 today initially opened lower on weakness in automakers, with Renault SA and Volkswagen AG down more than -3% after being downgraded to sell by UBS Group AG on increasing competition from Asia. A downward revision to the Eurozone Aug S&P manufacturing PMI index was also bearish for stocks.
ECB Governing Council member Villeroy said we are close or very close to an interest rate peak, and keeping rates high for long enough matters more.
The Eurozone Aug S&P manufacturing PMI was revised lower by -0.2 to 43.5 from the initially reported 43.7.
Italy's July PPI eased to -13.8% y/y from -8.2% y/y in June, the fastest pace of decline since the data began in 2001.
China’s Shanghai Composite Index closed moderately higher as the government continues to boost efforts to revive economic growth. Chinese authorities will allow the country’s largest cities to cut down payments for home buyers and encourage lenders to lower rates on existing mortgages. Stocks also found support after today's economic news showed a gauge of Chinese manufacturing activity that unexpectedly expanded last month. In addition, the PBOC reduced the foreign exchange reserve requirements for financial institutions in a bid to support the yuan.
The China Aug Caixin manufacturing PMI unexpectedly rose +1.8 to 51.0, stronger than expectations of a decline to 49.0 and the fastest pace of expansion in 6 months.
The People’s Bank of China (PBOC) cut the amount of foreign exchange deposits banks are required to hold as reserves to 4% from 6%, beginning Sep 15.
Japan’s Nikkei Stock Index closed slightly higher. Japanese stocks found support from today’s actions by China to boost stimulus measures. Also, today’s news that Japan’s Q2 company profits unexpectedly rose was positive for stocks. Gains in equities were limited after news that Japan's Q2 capital spending rose less than expected and after the August Jibun bank manufacturing PMI was revised lower. Also, exporter stocks retreated today after the yen climbed to a 1-week high against the dollar.
Japan Q2 company profits unexpectedly rose +11.6% y/y, stronger than expectations of a -0.1% y/y decline.
Japan Q2 capital spending rose +4.5% y/y, weaker than expectations of +8.3% y/y. Q2 capital spending ex-software roe +4.4% y/y, weaker than expectations of +7.5% y/y.
The Japan Aug Jibun bank manufacturing PMI was revised lower by -0.1 to 49.6 from the initially reported 49.7.
Pre-Market U.S. Stock Movers
Dell Technologies (DELL) jumped more than +9% in pre-market trading after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion.
Lululemon Athletica (LULU) climbed more than +3% in pre-market trading after reporting Q2 net revenue of $2.21 billion, better than the consensus of $2.17 billion, and raising its 2024 net revenue forecast to $9.51 billion-$9.57 billion from a prior forecast of $9.44 billion-$9.51 billion, stronger than the consensus of $9.50 billion.
Elastic NV (ESTC) surged more than +16% in pre-market trading after reporting Q1 adjusted EPS of 25 cents, well above the consensus of 11 cents, and raising its 2024 adjusted EPS estimate to $1.01-$1.11 from a prior estimate of 94 cents-$1.06, better than the consensus of $1.01.
MongoDB (MDB) jumped more than +6% in pre-market trading after reporting Q2 adjusted EPS of 93 cents, more than double the consensus of 46 cents, and raising its 2024 adjusted EPS forecast to $2.27-$2.35 from a previous estimate of $1.42-$1.56, well above the consensus of $1.53.
Nutanix (NTNX) soared more than +18% in pre-market trading after reporting Q4 subscription revenue of $459.5 million, stronger than the consensus of $426.5 million, and forecasting 2024 annual contract billings of $1.08 billion-$1.10 billion, better than the consensus of $1.07 billion.
SentinelOne (S) climbed more than +2% in pre-market trading after reporting Q2 revenue of $149.4 million, better than the consensus of $141.1 million, and raising its 2024 revenue forecast to $605 million from a previous forecast of $590 million-$600 million, above the consensus of $594.9 million.
Aramark (ARMK) rose more than +2% in pre-market trading after Citigroup upgraded the stock to buy from neutral with a price target of $47.
Broadcom (AVGO) tumbled more than -4% in pre-market trading after forecasting Q4 revenue of $9.27 billion, below the consensus of $9.28 billion.
Tesla (TSLA) is down nearly -1% in pre-market trading after cutting prices on several of its vehicle models in China.
Dollar General (DG) fell more than -1% in pre-market trading after Evercore ISI downgraded the stock to inline from outperform.
Paramount Global (PARA) slid nearly -1% in pre-market trading after Moody’s Investors Service cut its senior debt rating to Baa3 from Baa2, one level above junk.
VMware (VMW) fell more than -1% in pre-market trading after reporting Q2 revenue of $3.41 billion, below the consensus of $3.46 billion.
HashiCorp (HCP) tumbled more than -4% in pre-market trading after forecasting Q3 adjusted loss per share of -3 cents to -5 cents, the midpoint weaker than the consensus of -3.9 cents.
Earnings Reports (9/1/2023)
Veradigm Inc (MDRX).
More Stock Market News from Barchart
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On the date of publication, Rich Asplund 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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Pre-Market U.S. Stock Movers Dell Technologies (DELL) jumped more than +9% in pre-market trading after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. Although monthly nonfarm payrolls rose slightly more than forecast, the August unemployment rate unexpectedly jumped to a 1-1/2 year high, and hourly earnings eased. A negative for stocks was today’s warning from Atlanta Fed President Bostic that the U.S. economy faces a period of some disruption as debts are refinanced at significantly higher interest rates, putting some pressure on both financial institutions and the government.
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Pre-Market U.S. Stock Movers Dell Technologies (DELL) jumped more than +9% in pre-market trading after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. Although monthly nonfarm payrolls rose slightly more than forecast, the August unemployment rate unexpectedly jumped to a 1-1/2 year high, and hourly earnings eased. Lululemon Athletica (LULU) climbed more than +3% in pre-market trading after reporting Q2 net revenue of $2.21 billion, better than the consensus of $2.17 billion, and raising its 2024 net revenue forecast to $9.51 billion-$9.57 billion from a prior forecast of $9.44 billion-$9.51 billion, stronger than the consensus of $9.50 billion.
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Pre-Market U.S. Stock Movers Dell Technologies (DELL) jumped more than +9% in pre-market trading after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. Lululemon Athletica (LULU) climbed more than +3% in pre-market trading after reporting Q2 net revenue of $2.21 billion, better than the consensus of $2.17 billion, and raising its 2024 net revenue forecast to $9.51 billion-$9.57 billion from a prior forecast of $9.44 billion-$9.51 billion, stronger than the consensus of $9.50 billion. More Stock Market News from Barchart Stock Index Futures Climb Ahead of Key U.S. Payrolls Data Stocks See Support from U.S.
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Pre-Market U.S. Stock Movers Dell Technologies (DELL) jumped more than +9% in pre-market trading after reporting Q2 total net revenue of $22.93 billion, well above the consensus of $20.84 billion. Stock indexes this morning are moderately higher and extended overnight gains as bond yields fell after this morning’s monthly U.S. payrolls report fueled speculation the Fed will pause its rate hike campaign. Also, today’s news that Japan’s Q2 company profits unexpectedly rose was positive for stocks.
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c19fc284-f8a6-4cae-a61b-43bdf536a585
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725397.0
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2023-09-01 00:00:00 UTC
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Pre-market Movers: EOSE, ADTX, ICCT, NTNX, ESTC…
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DELL
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https://www.nasdaq.com/articles/pre-market-movers%3A-eose-adtx-icct-ntnx-estc...
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nan
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(RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 07.55 A.M. ET).
In the Green
Eos Energy Enterprises, Inc. (EOSE) is up over 53% at $5.00. Nutanix, Inc. (NTNX) is up over 19% at $37.24. Elastic N.V. (ESTC) is up over 15% at $71.64. Kewaunee Scientific Corporation (KEQU) is up over 13% at $17.59. LiveWire Group, Inc. (LVWR) is up over 13% at $12.65. Cheetah Net Supply Chain Service Inc. (CTNT) is up over 11% at $2.36. Altisource Asset Management Corporation (AAMC) is up over 10% at $9.30. electroCore, Inc. (ECOR) is up over 10% at $6.05. Dell Technologies Inc. (DELL) is up over 9% at $61.85. KE Holdings Inc. (BEKE) is up over 6% at $18.40.
In the Red
Aditxt, Inc. (ADTX) is down over 51% at $26.60. iCoreConnect Inc. (ICCT) is down over 20% at $9.45. Biodexa Pharmaceuticals Plc (BDRX) is down over 13% at $6.91. Flora Growth Corp. (FLGC) is down over 12% at $3.36. PagerDuty, Inc. (PD) is down over 11% at $22.74. Entergy Mississippi, Inc. (EMP) is down over 10% at $20.00. SeqLL Inc. (SQL) is down over 8% at $20.39. First Light Acquisition Group, Inc. (FLAG) is down over 8% at $8.36. Mobile Infrastructure Corporation (BEEP) is down over 8% at $6.70. MoonLake Immunotherapeutics (MLTX) is down over 5% at $54.39.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies Inc. (DELL) is up over 9% at $61.85. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 07.55 A.M. In the Green Eos Energy Enterprises, Inc. (EOSE) is up over 53% at $5.00.
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Dell Technologies Inc. (DELL) is up over 9% at $61.85. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 07.55 A.M. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dell Technologies Inc. (DELL) is up over 9% at $61.85. Altisource Asset Management Corporation (AAMC) is up over 10% at $9.30. First Light Acquisition Group, Inc. (FLAG) is down over 8% at $8.36.
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Dell Technologies Inc. (DELL) is up over 9% at $61.85. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 07.55 A.M. In the Green Eos Energy Enterprises, Inc. (EOSE) is up over 53% at $5.00.
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25fe57fd-f320-4d25-832b-5268bf7ddcc0
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725398.0
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2023-09-01 00:00:00 UTC
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US STOCKS-Futures rise ahead of August payrolls report
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DELL
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https://www.nasdaq.com/articles/us-stocks-futures-rise-ahead-of-august-payrolls-report
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nan
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nan
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By Shristi Achar A and Amruta Khandekar
Sept 1 (Reuters) - U.S. stock index futures were higher on Friday ahead of a keenly awaited reading that could show job growth likely slowed in August, bolstering expectations of a pause in the Federal Reserve's interest rate hikes.
The Labor Department's closely watched report, due at 8:30 a.m. ET is expected to show likely increased by 170,000 jobs last month, following 187,000 additions in July.
The unemployment rate, however, is forecast to stay unchanged at 3.5%.
"There have been indicators that the U.S. jobs market is finally starting to lose some of its tightness, and if the NFP print confirms this trend, it will be one less thing for the FOMC to worry," said Tim Waterer, chief market analyst at KCM Trade.
The payrolls report will follow recent data showing a fall in job openings and softer-than-expected private employment growth.
An inflation reading has also supported hopes of the Fed hitting a pause on its market-punishing tightening campaign, pushing the tech-heavy Nasdaq .IXIC up to a four-week high.
Other data points are also on the radar for the day, with the S&P Global Manufacturing Final PMI due at 9:45 a.m. ET and the ISM Manufacturing PMI due at 10 a.m. ET. Both readings are for August.
Money markets see an 89% chance of a rate-hike pause in the September policy meeting and a 56% chance of a pause in the November meeting, according to the CME FedWatch Tool.
BroadcomAVGO.O fell 4.2% premarket as the chipmaker projected current-quarter revenue below expectations on softening enterprise demand.
At 7:09 a.m. ET, Dow e-minis 1YMcv1 were up 121 points, or 0.35%, S&P 500 e-minis EScv1 were up 14.75 points, or 0.33%, and Nasdaq 100 e-minis NQcv1 were up 22.25 points, or 0.14%.
Dell TechnologiesDELL.N jumped 10.1% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom.
Lululemon AthleticaLULU.O gained 2.1% after the yogawear maker said on Thursday its third quarter was "off to a solid start" and lifted its annual profit and revenue forecasts for a second time.
(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak Dasgupta)
((Shristi.AcharA@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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Dell TechnologiesDELL.N jumped 10.1% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - U.S. stock index futures were higher on Friday ahead of a keenly awaited reading that could show job growth likely slowed in August, bolstering expectations of a pause in the Federal Reserve's interest rate hikes. An inflation reading has also supported hopes of the Fed hitting a pause on its market-punishing tightening campaign, pushing the tech-heavy Nasdaq .IXIC up to a four-week high.
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Dell TechnologiesDELL.N jumped 10.1% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - U.S. stock index futures were higher on Friday ahead of a keenly awaited reading that could show job growth likely slowed in August, bolstering expectations of a pause in the Federal Reserve's interest rate hikes. "There have been indicators that the U.S. jobs market is finally starting to lose some of its tightness, and if the NFP print confirms this trend, it will be one less thing for the FOMC to worry," said Tim Waterer, chief market analyst at KCM Trade.
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Dell TechnologiesDELL.N jumped 10.1% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - U.S. stock index futures were higher on Friday ahead of a keenly awaited reading that could show job growth likely slowed in August, bolstering expectations of a pause in the Federal Reserve's interest rate hikes. ET, Dow e-minis 1YMcv1 were up 121 points, or 0.35%, S&P 500 e-minis EScv1 were up 14.75 points, or 0.33%, and Nasdaq 100 e-minis NQcv1 were up 22.25 points, or 0.14%.
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Dell TechnologiesDELL.N jumped 10.1% after the personal computer maker raised its annual forecasts for revenue and profit as it benefits from the artificial intelligence boom. By Shristi Achar A and Amruta Khandekar Sept 1 (Reuters) - U.S. stock index futures were higher on Friday ahead of a keenly awaited reading that could show job growth likely slowed in August, bolstering expectations of a pause in the Federal Reserve's interest rate hikes. Other data points are also on the radar for the day, with the S&P Global Manufacturing Final PMI due at 9:45 a.m.
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691d4ea8-5ab1-4fe2-adf5-8f6d8a24fd23
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725399.0
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2023-09-01 00:00:00 UTC
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Friday's ETF with Unusual Volume: PWV
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DELL
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https://www.nasdaq.com/articles/fridays-etf-with-unusual-volume%3A-pwv
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nan
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nan
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The Invesco Large Cap Value ETF is seeing unusually high volume in afternoon trading Friday, with over 179,000 shares traded versus three month average volume of about 28,000. Shares of PWV were up about 0.7% on the day.
Components of that ETF with the highest volume on Friday were Intel, trading up about 3% with over 20.4 million shares changing hands so far this session, and Dell Technologies, up about 21.3% on volume of over 19.6 million shares. Comcast is lagging other components of the Invesco Large Cap Value ETF Friday, trading lower by about 2.8%.
VIDEO: Friday's ETF with Unusual Volume: PWV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF with the highest volume on Friday were Intel, trading up about 3% with over 20.4 million shares changing hands so far this session, and Dell Technologies, up about 21.3% on volume of over 19.6 million shares. The Invesco Large Cap Value ETF is seeing unusually high volume in afternoon trading Friday, with over 179,000 shares traded versus three month average volume of about 28,000. Comcast is lagging other components of the Invesco Large Cap Value ETF Friday, trading lower by about 2.8%.
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Components of that ETF with the highest volume on Friday were Intel, trading up about 3% with over 20.4 million shares changing hands so far this session, and Dell Technologies, up about 21.3% on volume of over 19.6 million shares. The Invesco Large Cap Value ETF is seeing unusually high volume in afternoon trading Friday, with over 179,000 shares traded versus three month average volume of about 28,000. Comcast is lagging other components of the Invesco Large Cap Value ETF Friday, trading lower by about 2.8%.
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Components of that ETF with the highest volume on Friday were Intel, trading up about 3% with over 20.4 million shares changing hands so far this session, and Dell Technologies, up about 21.3% on volume of over 19.6 million shares. The Invesco Large Cap Value ETF is seeing unusually high volume in afternoon trading Friday, with over 179,000 shares traded versus three month average volume of about 28,000. VIDEO: Friday's ETF with Unusual Volume: PWV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF with the highest volume on Friday were Intel, trading up about 3% with over 20.4 million shares changing hands so far this session, and Dell Technologies, up about 21.3% on volume of over 19.6 million shares. The Invesco Large Cap Value ETF is seeing unusually high volume in afternoon trading Friday, with over 179,000 shares traded versus three month average volume of about 28,000. Shares of PWV were up about 0.7% on the day.
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00c33e68-8eb3-4cb1-8065-b869ccdeb58b
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