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Strength Seen in Sonoco (SON): Can Its 5% Jump Turn into More Strength?

Sonoco (SON) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road. Sonoco (SON) shares rallied 5% in the last trading session to close at $54.79. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.2% loss over the past four weeks.Sonoco has raised its guidance for the second quarter of 2022, backed by the solid demand trend witnessed so far in the quarter, leading to an uptick in its share price. The company now expects adjusted earnings per share to be in the range of $1.60 to $1.70, which is 30% higher than its prior expectation of $1.20 to $1.30 per share. The mid-point of the new guidance suggests a year-on-year growth of 70%.Solid customer demand, particularly in the Consumer Packaging and All Other segments, as well as continued pricing gains, led to the guidance hike. The continued strong performance of the Metal Packaging business, which was acquired in the first quarter of 2022, is also expected to boost operating results in the quarter.This packaging maker is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents a year-over-year change of +52.4%. Revenues are expected to be $1.85 billion, up 33.7% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Sonoco, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SON going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Sonoco is part of the Zacks Containers - Paper and Packaging industry. Graphic Packaging (GPK), another stock in the same industry, closed the last trading session 0.2% lower at $19.45. GPK has returned -4.9% in the past month.Graphic Packaging's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.52. Compared to the company's year-ago EPS, this represents a change of +100%. Graphic Packaging currently boasts a Zacks Rank of #1 (Strong Buy). Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV Stocks With Extreme Upside Potential >>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 Sonoco Products Company (SON): Free Stock Analysis Report Graphic Packaging Holding Company (GPK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 23rd, 2022

Rite Aid (RAD) Moves 7.9% Higher: Will This Strength Last?

Rite Aid (RAD) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Rite Aid RAD shares ended the last trading session 7.9% higher at $8.23. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.2% gain over the past four weeks.Rumors of Rite Aid becoming a target for activist investors stemming from speculations of management changes has send the stock soaring. The company has been delivering great customer service via accelerated COVID-19 vaccine program and the expansion of delivery services. Strength in its PBM business driven by its RxEvolution strategy bodes well. It also remains focused on providing lower healthcare costs, better customer engagement and personalized services.This drugstore chain is expected to post quarterly loss of $0.56 per share in its upcoming report, which represents a year-over-year change of -36.6%. Revenues are expected to be $5.77 billion, down 5.6% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Rite Aid, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RAD going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Rite Aid belongs to the Zacks Retail - Pharmacies and Drug Stores industry. Another stock from the same industry, CVS Health CVS, closed the last trading session 0.2% higher at $95.68. Over the past month, CVS has returned 3.1%.CVS Health's consensus EPS estimate for the upcoming report has changed -2.1% over the past month to $2.16. Compared to the company's year-ago EPS, this represents a change of -10.7%. CVS Health currently boasts a Zacks Rank of #3 (Hold). Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rite Aid Corporation (RAD): Free Stock Analysis Report CVS Health Corporation (CVS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Strength Seen in Aemetis (AMTX): Can Its 15% Jump Turn into More Strength?

Aemetis (AMTX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road. Aemetis (AMTX) shares soared 15% in the last trading session to close at $7.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 30.1% gain over the past four weeks.Aemetis stock extended its rally for the third straight day, driven by optimism over the renewable energy sector as a whole. The rise of ESG (Environmental, Social and Governance) investing and the broad-based transition toward clean energy has lifted the renewable fuel space and contributed to the strength in this ethanol producer.This renewable fuels and specialty chemicals company is expected to post quarterly loss of $0.45 per share in its upcoming report, which represents a year-over-year change of -18.4%. Revenues are expected to be $61.73 million, up 12.5% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Aemetis, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMTX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Aemetis is part of the Zacks Biofuels industry. REX (REX), another stock in the same industry, closed the last trading session 2.1% higher at $95.46. REX has returned 10.3% in the past month.For REX, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.79. This represents a change of +36.6% from what the company reported a year ago. REX currently has a Zacks Rank of #3 (Hold). Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Aemetis, Inc (AMTX): Free Stock Analysis Report REX American Resources Corporation (REX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Heico Corporation (HEI) Moves 5.2% Higher: Will This Strength Last?

Heico Corporation (HEI) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Heico Corporation (HEI) shares ended the last trading session 5.2% higher at $157.71. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.4% gain over the past four weeks.The latest uptick in the share price performance of Heico Corp can be attributed to the recently revealed acquisition news of Exxelia International from an affiliate of IK Partners, by Heico’s Electronic Technologies Group, for approximately $555 million worth of cash.This company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +16.1%. Revenues are expected to be $555.71 million, up 17.8% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Heico Corporation, the consensus EPS estimate for the quarter has been revised 1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HEI going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Heico Corporation belongs to the Zacks Aerospace - Defense Equipment industry. Another stock from the same industry, AeroVironment (AVAV), closed the last trading session 1.6% higher at $86.64. Over the past month, AVAV has returned 3.8%.AeroVironment's consensus EPS estimate for the upcoming report has changed +1000% over the past month to $0.09. Compared to the company's year-ago EPS, this represents a change of +152.9%. AeroVironment currently boasts a Zacks Rank of #5 (Strong Sell). Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Heico Corporation (HEI): Free Stock Analysis Report AeroVironment, Inc. (AVAV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Strength Seen in Sarepta Therapeutics (SRPT): Can Its 8.2% Jump Turn into More Strength?

Sarepta Therapeutics (SRPT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might help the stock continue moving higher in the near term. Sarepta Therapeutics SRPT shares soared 8.2% in the last trading session to close at $92.95. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.6% gain over the past four weeks.Shares were up after the management announced that it intends to file a regulatory application seeking accelerated approval for its gene-therapy candidate, SRP-9001, to treat Duchenne muscular dystrophy (DMD). The company expects to initiate filing later this year. If approved, the treatment could reap billion of dollars in sales for the company.This biopharmaceutical company is expected to post quarterly loss of $1.07 per share in its upcoming report, which represents a year-over-year change of -4.9%. Revenues are expected to be $220.08 million, up 34.1% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Sarepta Therapeutics, the consensus EPS estimate for the quarter has been revised 2.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SRPT going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Sarepta Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Vertex Pharmaceuticals VRTX, another stock in the same industry, closed the last trading session 0.2% lower at $280.41. VRTX has returned -0.3% in the past month.Vertex's consensus EPS estimate for the upcoming report has changed -1.2% over the past month to $3.48. Compared to the company's year-ago EPS, this represents a change of +11.9%. Vertex currently boasts a Zacks Rank of #3 (Hold). Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sarepta Therapeutics, Inc. (SRPT): Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

What"s in the Offing for QuidelOrtho (QDEL) in Q2 Earnings?

QuidelOrtho's (QDEL) second-quarter results are likely to reflect strength across both its COVID and non-COVID businesses. QuidelOrtho Corporation QDEL is scheduled to report second-quarter 2022 results on Aug 4, after the closing bell.In the last-reported quarter, the company’s earnings of $11.66 per share surpassed the Zacks Consensus Estimate by 25.7%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on three occasions and missed the same in the other one, delivering an earnings surprise of 138.3%, on average.                   Let’s see how things have shaped up for QuidelOrtho prior to this announcement:Factors at PlayQuidelOrtho’s second-quarter 2022 revenues are likely to have been driven by COVID and non-COVID businesses, similar to what the company witnessed in the first quarter. During its first-quarter 2021 earnings call in May, QuidelOrtho confirmed that over the past few months, strong demand for rapid immunoassay products like QuickVue At-Home OTC (over-the-counter) COVID-19 tests had been recorded. The company also witnessed strong momentum from its non-COVID sales that included strength in its Sofia ABC combination test for Influenza + SARS and Sofia Influenza tests. This trend in the non-COVID business is likely to have continued in the to-be-reported quarter as well on f the observation that flu had continued to linger into the second quarter.QuidelOrtho’s highly-automated QuickVue manufacturing facility in Carlsbad, CA is also likely to have continued to support the strong demand for its products, which in turn may have helped to maintain the company’s top-line growth in the second quarter. However, softening demand for QuidelOrtho’s COVID-related products and the company’s expectations for this trend to continue is likely to weigh on its second-quarter revenues.QuidelOrtho Corporation Price and EPS Surprise QuidelOrtho Corporation price-eps-surprise | QuidelOrtho Corporation QuoteDuring the first-quarter earnings call, QuidelOrtho confirmed that the completion of the acquisition of Ortho Clinical Diagnostics will likely more than double its market opportunity among the point-of-care, clinical laboratory and transfusion medicine segments. The buyout (which closed at May-end) was expected to integrate the complementary nature of Quidel’s and Ortho’s portfolios and create ample cross-selling opportunities across a deep and diverse mix of customers and channels to significantly accelerate the market penetration worldwide after closing. This is also likely to have a positive impact on the second quarter’s overall top line of the company.Other likely top contributors to the second-quarter revenues include the Lyra SARS-CoV-2 products, Solana and Savanna systems, and DHI (Diagnostic Hybrids) Respiratory products on the back of sustained strong demand.QuidelOrtho’s Savanna MDx instrumented system, launched in select ex-U.S. markets, is expected to have witnessed strong customer adoption. This is another factor which is likely to drive the to-be-reported quarter’s top line.Over the past few months, QuidelOrtho has been witnessing a demand in emerging markets, which could be captured via both telehealth technology and digital health capabilities, thereby expanding patient access to a wide range of point-of-care and OTC diagnostic products. In this space, the company offers both Sofia Q and an innovative self-test mobile application — QVue Business — to help address enterprise and employee health use cases. These products are likely to have witnessed robust customer adoption in the to-be-reported quarter, thereby contributing to revenue growth.The Estimate PictureFor second-quarter 2022, the Zacks Consensus Estimate for total revenues is currently pegged at $475.9 million, implying a surge of 169.5% from the prior-year period’s reported number.The consensus estimate for earnings per share is pegged at $3.38, implying a surge of 350.7% from the prior-year period’s reported number.What Our Model SuggestsPer our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has higher chances of beating estimates. However, this is not the case here as you can see:Earnings ESP: QuidelOrtho has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank #2.Stocks Worth a LookHere are a few medical stocks worth considering, as these have the right combination of elements to beat on earnings this reporting cycle:Centessa Pharmaceuticals plc CNTA has an Earnings ESP of +2.70% and a Zacks Rank of 2. CNTA has an estimated growth rate of 20.6% for 2023.Centessa Pharmaceuticals’ earnings surpassed estimates in two of the trailing four quarters and lagged the same in the other two, with the average being 6.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.STERIS plc STE has an Earnings ESP of +1.85% and is a Zacks #1 Rank stock. STE has an estimated growth rate of 9.9% for fiscal 2023.STERIS’ earnings surpassed estimates in all the trailing four quarters, with the average surprise being 9.2%.GoodRx Holdings, Inc. GDRX has an Earnings ESP of +20.00% and is a Zacks #2 Ranked stock. GDRX has an estimated long-term growth rate of 16.6%.GoodRx Holdings’ earnings surpassed estimates in two of the trailing four quarters, lagged the same in one and broke even in one, the average being 6.9%.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QuidelOrtho Corporation (QDEL): Free Stock Analysis Report STERIS plc (STE): Free Stock Analysis Report GoodRx Holdings, Inc. (GDRX): Free Stock Analysis Report Centessa Pharmaceuticals PLC Sponsored ADR (CNTA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Equitrans Midstream (ETRN) Stock Jumps 7%: Will It Continue to Soar?

Equitrans Midstream (ETRN) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term. Equitrans Midstream (ETRN) shares ended the last trading session 7% higher at $7.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.1% gain over the past four weeks.Equitrans Midstream’s shares rallied on the last trading day. The bullishness could be attributed to continuing high energy prices which have contributed to the strength of Equitrans that owns, operates, acquires and develops midstream assets primarily in the Appalachian Basin. Oil prices of around $100 a barrel and natural gas surging to $8.339 per MMBtu hint at brighter prospects going ahead for the Canonsburg, Pennsylvania-based firm.This company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -15.4%. Revenues are expected to be $367.24 million, up 5.4% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Equitrans Midstream, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ETRN going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Equitrans Midstream is a member of the Zacks Oil and Gas - Integrated - United States industry. One other stock in the same industry, DT Midstream (DTM), finished the last trading session 1.1% higher at $54.15. DTM has returned 8.6% over the past month.For DT Midstream, the consensus EPS estimate for the upcoming report has changed +1.8% over the past month to $0.88. This represents a change of -3.3% from what the company reported a year ago. DT Midstream currently has a Zacks Rank of #2 (Buy). 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 Equitrans Midstream Corporation (ETRN): Free Stock Analysis Report DT Midstream, Inc. (DTM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Transportadora De Gas Sa Ord B (TGS) Moves 13.3% Higher: Will This Strength Last?

Transportadora De Gas Sa Ord B (TGS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road. Transportadora De Gas Sa Ord B (TGS) shares ended the last trading session 13.3% higher at $5.89. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.2% gain over the past four weeks.With Russia’s aggressive invasion of Ukraine limiting global energy supplies, higher commodity prices are driving inflation and decelerating the economic recovery. Transportadora de Gas Sa Ord B is least exposed to the commodity price fluctuations as it generates stable fee-based revenues, with its pipeline assets transporting more than 60% of the gas consumed in Argentina.This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -104.2%. Revenues are expected to be $235.22 million, up 23.6% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Transportadora De Gas Sa Ord B, the consensus EPS estimate for the quarter has been revised 53.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TGS going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Transportadora De Gas Sa Ord B is a member of the Zacks Oil and Gas - Production and Pipelines industry. One other stock in the same industry, Cheniere Energy Partners, LP (CQP), finished the last trading session 0.6% higher at $51.58. CQP has returned 11.7% over the past month.Cheniere Energy Partners, LP's consensus EPS estimate for the upcoming report has changed +1.1% over the past month to $0.94. Compared to the company's year-ago EPS, this represents a change of +28.8%. Cheniere Energy Partners, LP currently boasts a Zacks Rank of #3 (Hold). 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 Transportadora De Gas Sa Ord B (TGS): Free Stock Analysis Report Cheniere Energy Partners, LP (CQP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Funko-A (FNKO) Stock Jumps 8.1%: Will It Continue to Soar?

Funko-A (FNKO) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Funko-A FNKO shares soared 8.1% in the last trading session to close at $26.19. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% gain over the past four weeks.Notably, solid demand across product categories, growth in D2C e-commerce platform and increased traffic (on websites) have been boosting investors’ confidence.This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -45%. Revenues are expected to be $299.76 million, up 27% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Funko-A, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FNKO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Funko-A is part of the Zacks Consumer Products - Discretionary industry. Central Garden (CENTA), another stock in the same industry, closed the last trading session 1.4% higher at $41.51. CENTA has returned 5.5% in the past month.Central Garden's consensus EPS estimate for the upcoming report has changed +4.2% over the past month to $1.26. Compared to the company's year-ago EPS, this represents a change of -8%. Central Garden currently boasts a Zacks Rank of #4 (Sell). 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 Funko, Inc. (FNKO): Free Stock Analysis Report Central Garden & Pet Company (CENTA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

How to Make the Most of Today"s Market

The bulls and bears have very different ideas on what these two weeks of epic gains mean for the market. Sheraz Mian goes over both arguments, and then picks the course most likely to benefit investors moving forward. Stocks have been on a steady uptrend over the last two weeks, with the trend getting a boost in the aftermath of Wednesday’s Fed rate hike.Driving this rapid shift in sentiment is optimism about Fed policy and a corporate earnings picture that is far better than many in the market were fearing.The Fed’s accelerated tightening moves have raised hopes that the bulk of the rate hikes may now be behind us. Improved visibility on this front has prompted many in the market to buy quality stocks at discounts. This narrative is sanguine about the Fed, sees inflation as having peaked already and sees nothing egregious with valuations given improved visibility for interest rates and a stable earnings outlook.Market bears see this emerging optimism in the market as without a solid basis and view the positive stock market gains of the last two weeks as nothing more than a bear-market rally in a long-term downtrend. This line of thinking sees inflation as far more ‘sticky’ that will require the Fed to continue tightening, at least through the end of the year. Valuation worries also figure prominently in the bearish view of the market.The interplay of these competing views will determine how the market performs in the coming months and quarters. To that end, let’s examine the landscape of bullish and bearish arguments to help you make up your own mind.Let's talk about the Bull case first.Inflation & the Fed: The outlook for inflation and what that means for Fed policy is the biggest point of difference between market bulls and bears at this point in time. The bulls see peak inflation readings to be in the rearview mirror at this stage, with the growth pace steadily decelerating in the coming months. Declines in commodity prices and signs of cooling demand as a result of moderating economic activities provide confirmation of this favorable inflation view.It is hard to argue with the bulls’ view that the heightened post-lockdown demand in a number of product and service categories was bound to eventually normalize, with its attendant beneficial effect on prices. Related to the above argument are expected favorable developments on the supply side of the equation as the worst of the supply-chain snarls ease. Partly delaying this expected normalization are Covid-related developments in China and disruptions caused by the war on Ukraine.The Fed Chairman hinted after the rate-hike announcement on Wednesday that rates were now close to the neutral level, even though he stated that further hikes will likely be needed. The markets justifiably interpreted this as indicating that the bulk of the tightening was now behind us, particularly if the two inflation readings ahead of the September FOMC meeting confirm the expected turn.Continued . . .------------------------------------------------------------------------------------------------------5 Stocks Set to Double: Sunday DeadlineThere's still time to get in on our just-released 5 Stocks Set to Double Special Report. Each pick is the single favorite of a Zacks expert with the best chance to gain +100% and more in the months ahead:Stock #1: A World-Changing InvestmentStock #2: Strong Zacks Rank With a Recurring Revenue StreamStock #3: Top Dog on a Buying SpreeStock #4: A Technology TitanStock #5: Strong Earnings Growth Paying a Healthy DividendPrevious editions have racked up gains of +143.0%, +175.9%, +498.3%, and even +673.0%.¹ Deadline to download the new report is midnight Sunday, July 31.See Stocks Now >>------------------------------------------------------------------------------------------------------The Economy’s Strong Foundation: The U.S. economy’s growth pace has shifted gear in response to the combined effects of aggressive Fed tightening, persistent logistical bottlenecks and the run off in the government’s Covid spending. This is beneficial to the central bank’s inflation fight, particularly the demand-driven part of pricing pressures.At a superficial level, the back-to-back negative GDP prints in the first two quarters of this year can be seen as meeting the basic requirement of a recession. But that will be overly simplistic given the rock-solid labor market characterized by strong hiring in the last six months and a record low unemployment rate. It is hard to envision a recession without joblessness.The purchasing power of lower-income households has likely been eroded by inflationary pressures, as confirmed by a number of companies during their Q2 earnings calls. But household balance sheets in the aggregate are in excellent shape. According to Moody Analytics as quoted in the Wall Street Journal, U.S. households were sitting on $2.5 trillion in excess savings in May 2022. This combination of labor market strength and plenty of savings cushion should help keep consumer spending in positive territory in the back half of the year and beyond.Growth is expected to resume from Q3 onwards, as the effects of inventory drawdowns that drove the negative Q2 GDP print start easing. While estimates have been coming down, the Zacks economic team is projecting 2022 GDP growth at +2%.These strong pillars of the U.S. economic foundation run contrary to what are typically signs of trouble ahead on the horizon.Valuation & Earnings: Tied to the economic and interest rate outlook is the question of stock market valuations that have become very alluring after this year’s pullback.The S&P 500 index is currently trading at 17.3X forward 12-month earnings estimates, up from 16.2X at the end of June, but down -27.8% from the peak multiple of 24X some time back. It is hard to consider a 17-handle valuation as excessive or stretched, particularly given emerging signs of optimism on the Fed front.Granted there are parts of the market that need to get rerated as the full effects of the Fed’s tightening cycle take hold, resulting in cooling consumer and business demand and moderating economic growth. But not all sectors are exposed to the ongoing Fed-driven negativity in outlook to the same degree, with sensitivity to interest rates and the macroeconomy much bigger drivers for some sectors than others.We are starting to see this bifurcation in earnings outlook in the ongoing Q2 earnings season already, with operators in the at-risk sectors unable to have adequate visibility in their business. But there are many other companies that continue to drive sales and earnings growth in this environment.We have seen many of these leaders from a variety of sectors and industries, including Technology, come out with blockbuster quarterly results in recent days.Contrary to fears ahead of the start of the Q2 earnings results, actual results are turning out to be fairly stable and resilient. While it is reasonable to expect some downward adjustment to estimates for macroeconomic reasons, the overall earnings outlook remains a tailwind for the stock market in an environment of diminishing Fed uncertainty.Let's see what the Bears have to say in response. Endemic Inflation & Fed Tightening: The sub-par ‘headline’ growth rate was not the only notable piece of detail in Thursday’s Q2 GDP report, the second quarter in a row of declining growth, as it also showed a red hot PCE price index reading of 7.1% that was unchanged from the preceding quarter’s multi-decade high level.The Fed risked damaging its hard-won inflation-fighting credentials had it stuck to its ‘price-pressures-are-transitory’ narrative in the face of persistent inflationary readings month after month. Many in the market believe that the central bank took too long to accept this reality, which will necessitate even tighter and more stringent measures than would have otherwise been the case.This line of thinking sees the economy’s ongoing inflation bout as resulting from the Fed’s super easy monetary policy and excessive fiscal stimulation over the last two years.With no FOMC meeting in August, market bulls are praying for two sets of favorable inflation and employment readings by the time of the September meeting, allowing the Fed to pivot from the current stance.The recent pullback in commodity prices, the basis for the bulls’ peak-inflation view, is most likely not enough to have a meaningful impact on price pressures. Given ongoing trends in wages and rents, to name just two areas, inflation is likely a lot stickier than most people assume.Importantly, the Fed’s inflation-fighting credentials essentially guarantee that they will continue to tighten policy in September and beyond even if headline inflation readings start trending down.The Valuation Reality Check: A big driver of the stock market’s bull run had been thanks to the Fed’s ability to flood the market with liquidity. The central bank achieved that by keeping interest rates at zero and buying a boat-load of U.S. treasury and mortgage-backed bonds that expanded its balance sheet to almost $9 trillion a few months back, more than double its size at the start of 2020.Fed tightening and the associated higher interest rates have a direct impact on the prices of all asset classes, stocks included. Everything else constant, investors will be required to use a higher discount rate, a function of interest rates, to value the future cash flows from the companies they want to invest in.This means lower values for stocks in a rising interest rate environment.The Growth Question: Since Fed rate hikes work with a lag, the central bank’s aggressive tightening moves since March 2022 likely weren’t a big reason for Thursday’s negative GDP print for Q2, the second quarter in a row of GDP decline.Current projections of GDP growth for this year and next assume that the Fed is successful in executing a ‘soft landing’ for the U.S. economy as it continues the current policy stance.There is no basis for us to doubt this confidence in the central bank’s abilities, but we shouldn’t lose sight of history that tells us that economic growth typically falls victim to the Fed’s inflation-fighting efforts.A handy metric to keep an eye on for growth outlook is the spread between the 2-year and 10-year treasury bond yields. Inversion in this metric, as has been the case lately, will suggest the need for reigning in growth expectations.Where Do I Stand? I am very skeptical of the bearish narrative’s Fed tightening outlook and see this scenario as nothing more than a worst-case or low-probability event.My base case all along saw the Fed moving from the then ‘stimulative’ policy stance to one that was essentially ‘neutral’. In a ‘neutral’ policy setting, the Fed is neither ‘stimulating’ nor ‘restricting’ economic activities.They are essentially in the vicinity of the ‘neutral’ policy stage after Wednesday’s 75 basis point increase, as the Fed chief himself indicated in the after-meeting presser. With the next meeting not until September, they will have two months of data in hand as they contemplate the question the next time around.It is reasonable to expect the Fed to start shifting course beyond September in the face of favorable data on the inflation front. This appears to be the most plausible scenario given the risks to growth as a result of premature tightening, a threat to the Fed’s second ‘full employment’ mandate.The recent pullback in benchmark treasury yield and positive momentum in the stock market reflects this interpretation. The resulting stability in financial conditions and interest rates should keep the economy’s growth trajectory in place, admittedly at a moderate pace.Regular readers of my earnings commentary know that the earnings picture continues to be stable and resilient. The growth pace is undoubtedly expected to decelerate going forward, but the overall earnings picture will remain favorable.Markets are forward-looking pricing mechanisms and the recent weakness is highlighting this interest rate and growth uncertainty on the horizon. We don’t envision this uncertainty dissipating next week, but we do see investors eventually coming around to our view of inflation, the Fed and great times ahead after a short period of volatility.How to Take Advantage We take advantage of this period of turmoil by slowly building positions in great stocks that are currently available at significant discounts to their true values.That's why I'm inviting you to download our just-released Special Report, 5 Stocks Set to Double. Each stock was handpicked by a Zacks expert as their personal favorite to have the best chance of gaining +100% and more in the months ahead:Previous editions of this report have racked up some huge gains. Examples include Boston Beer Co. +143.0%, NVIDIA +175.9%, Weight Watchers +498.3% and Tesla +673.0%.¹The earlier you get into these new stocks the higher their profit potential:Stock #1: A World-Changing InvestmentAs a leading genome-editing company, it has recently found a bottom much like the Biotech sector. However, they have several world-changing projects in the pipeline, one of which led several bullish analysts to call for buying more shares.Stock #2: Strong Zacks Rank With a Recurring Revenue StreamTrusted by a community of 260+ million customers it’s not difficult to see why this global software as a service stock is set to double. It has delivered a trailing four-quarter average earnings surprise of 64.38% and is buoyed by a leading industry group.Stock #3: Top Dog on a Buying SpreeWith two blockbuster deals complete, this company’s expanding product portfolio allows it to package a slew of offerings to its growing list of clients in the enterprise and business software world. It should be no surprise that Wall Street is very high on the stock, with 13 of the 14 brokerage recommendations sitting at “Strong Buys.”Stock #4: A Technology TitanLoaded with cutting-edge technology and robust growth rates, this industry leader looks poised to reward investors handsomely. Full-year sales for FY23 are forecasted to come in at $34 billion – a massive 26% jump year-over-year.Stock #5: Strong Earnings Growth Paying a Healthy DividendThe underlying commodities driving this energy giant’s business are skyrocketing. With huge earnings growth coming down the pipe, incredibly strong cash flow, and a transition plan to greener energy, the dividend paying stock gives investors plenty of reasons to snap up shares.To put the odds of success even more in your favor, you’ll also gain access to our unique arrangement called Zacks Investor Collection.It gives you the picks and commentary from all our long-term portfolios in real time for the next 30 days. Plus, it includes Zacks Premium research so you can find winning stocks, ETFs and mutual funds on your own.This year alone, they have already closed 24 double and triple-digit wins. Recent gains have reached as high as +150.9%, +348.7%, and even +995.2%.¹Keep in mind, the opportunity to download our 5 Stocks Set to Double Special Report ends on Sunday, July 31.Look into 5 Stocks Set to Double and Zacks Investor Collection now >>Thanks and good trading,SherazSheraz Mian serves as the Director of Research and manages the entire research department. He also manages the Zacks Focus List and Zacks Top 10 Stocks portfolios. He invites you to access Zacks Investor Collection.¹ The results listed above are not (or may not be) representative of the performance of all selections made by Zacks Investment Research's newsletter editors and may represent the partial close of a position.  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 To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Blink Charging (BLNK) Surges 17.8%: Is This an Indication of Further Gains?

Blink Charging (BLNK) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road. Blink Charging BLNK shares ended the last trading session 17.8% higher at $21.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% gain over the past four weeks.The recent surge in Blink’s share price comes after the company announced that it is continuing deployment of Blink EV chargers for electric school bus fleets.The Biden administration has recently committed $5 billion to the production of environmentally cleaner school buses with the recent passage of the Infrastructure Investment and Jobs Act (IIJA) which bodes well for Blink’s topline growth.This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of -12.5%. Revenues are expected to be $8.79 million, up 101.7% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Blink Charging, the consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BLNK going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Blink Charging is a member of the Zacks Electronics - Miscellaneous Services industry. One other stock in the same industry, Jack Henry JKHY, finished the last trading session 1.8% higher at $206.31. JKHY has returned 11.3% over the past month.For Jack Henry, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1. This represents a change of -3.9% from what the company reported a year ago. Jack Henry currently has a Zacks Rank of #3 (Hold). 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 Blink Charging Co. (BLNK): Free Stock Analysis Report Jack Henry & Associates, Inc. (JKHY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Stem, Inc. (STEM) Soars 22.5%: Is Further Upside Left in the Stock?

Stem, Inc. (STEM) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term. Stem, Inc. (STEM) shares rallied 22.5% in the last trading session to close at $10.69. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.5% gain over the past four weeks.The recent surge in the company’s share price reflects positive impact on sales growth from Stem’s acquisition of AlsoEnergy. The two companies have a 30% customer overlap between the two organizations, which provides excellent cross selling opportunities for Stem.Also the company has successfully implemented price increases for their PowerTrack software which is impacting topline growth positively.This company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $59.96 million, up 210% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Stem, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STEM going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Stem, Inc. is part of the Zacks Computers - IT Services industry. Epam (EPAM), another stock in the same industry, closed the last trading session 5.3% higher at $342.79. EPAM has returned 5.9% in the past month.For Epam, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.71. This represents a change of -16.6% from what the company reported a year ago. Epam currently has a Zacks Rank of #3 (Hold). 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 Stem, Inc. (STEM): Free Stock Analysis Report EPAM Systems, Inc. (EPAM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Inogen (INGN) Surges 5.1%: Is This an Indication of Further Gains?

Inogen (INGN) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term. Inogen (INGN) shares soared 5.1% in the last trading session to close at $27.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.5% gain over the past four weeks.The stock has risen most probably on the back of anticipation for an improved second quarter results, scheduled to be announced on Aug 4.This produces oxygen concentrators for patients suffering from chronic respiratory conditions is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of -281.8%. Revenues are expected to be $100.74 million, down 0.8% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Inogen, the consensus EPS estimate for the quarter has been revised 5.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on INGN going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Inogen belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Pacific Biosciences of California (PACB), closed the last trading session 2.7% lower at $4.37. Over the past month, PACB has returned 1.6%.Pacific Biosciences' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.34. Compared to the company's year-ago EPS, this represents a change of -61.9%. Pacific Biosciences currently boasts a Zacks Rank of #2 (Buy). Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inogen, Inc (INGN): Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 1st, 2022

Furious Rally Pauses As Sentiment Turns Metaworse Amid Record Earnings Barrage

Furious Rally Pauses As Sentiment Turns Metaworse Amid Record Earnings Barrage One day after the Nasdaq 100 posted its biggest jump since November 2020 when the market exploded higher after it interpreted Powell's forward guidance purge and comment that it is "likely appropriate to slow rate increases at some point" as more dovish than expected, US stocks were set to pull back as downbeat earnings and a dire outlook from bad to Metaworse weighed on demand. Futures contracts on the technology-heavy Nasdaq 100 dropped 0.5% by 7:15 a.m. in New York, after the underlying gauge rallied 4.3% in the previous session. S&P 500 futures were down 0.2% after the benchmark index jumped to its highest level in seven weeks. Treasury yields were little changed and the dollar and bitcoin edged up. In premarket trading, Facebook parent Meta tumbled after it reported its first-ever quarterly sales decline as ad spend by businesses cooled, leading to a far worse than expected forecast. Qualcomm also slipped as it issued a lackluster forecast.  Renewable energy companies soared in Europe and premarket trading following a deal by Democrats and Senator Manchin to advance a bill that will spend hundreds of billions of dollars on energy security and climate change. Vestas Wind Systems A/S surged more than 14% as oil also rose.  Spirit Airlines Inc. rose in premarket on a deal with JetBlue Airways Corp. Among other individual movers, Best Buy dropped in premarket trading as analysts slashed their price targets on the retailer after it cut its profit and sales outlook. Ford Motor on the other hand, jumped after reporting better-than-expected adjusted earnings per share for the second quarter. Here are some other notable premarket movers: Qualcomm (QCOM US) shares fall 4.5% in premarket trading after the chipmaker issued a lackluster forecast for the current quarter as it expects weakening economy to weigh on consumer spending on mobile devices. Watch shares of US chipmakers and semiconductor capital equipment stocks, including Lam Research (LRCX US), Applied Materials (AMAT US), Nvidia (NVDA US), Advanced Micro Devices (AMD US), Intel (INTC US), after Samsung’s quarterly profit missed estimates and Qualcomm’s forecast. Meta Platforms (META US) shares are down 5.9% in premarket trading, after the Facebook parent reported its first- ever quarterly sales decline as ad spend by businesses cooled. Ford (F US) shares jumped as much as 7.7% in US premarket trading after the carmaker’s adjusted earnings per share for the second quarter beat the average analyst estimate. Solar energy and renewables stocks gain in US premarket trading after Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck a deal on a tax and energy policy bill. First Solar (FSLR US) +10%, SunRun (RUN US) +12%, Enphase Energy (ENPH US) +3.6%, SolarEdge (SEDG US) +4.0% Etsy (ETSY US) rises 6.1% in premarket trading on Thursday after the company posted stronger-than-expected second- quarter results, with most analysts seeing the online retailer retaining its market-share gains made during the pandemic ServiceNow (NOW US) shares fall 7.5% in US premarket trading, after the software company cut its full-year revenue forecast due to a stronger dollar and a potential pull back in demand. Spirit Airlines (SAVE US) shares climb 4.5% in premarket trading as JetBlue Airways is said to be close to an agreement to buy the carrier. Best Buy (BBY US) shares drop 4.4% in US premarket trading as analysts slashed their price targets on the retailer after it cut its profit and sales outlook, with brokers blaming the macroeconomic backdrop. Teladoc Health (TDOC US) shares fall about 25% in premarket trading after the virtual- care company’s 3Q Ebitda guidance came in below expectations, with analysts saying the outlook for Teladoc is likely to be revised downward. Community Health Systems Inc. (CYH US) shares plummet 52% in premarket trading after the hospital company reported a surprise loss per share for the second quarter. US stocks have rallied in July, putting the S&P 500 Index on course for its biggest monthly gain since October 2021, as the market finally grasps what we have been saying since January, namely that the weaker macroeconomic will prompt the central bank to "pivot" to easier policy, coupled with bets that much of the bad news was now priced in. It could get even worse, er better, today when the US reports Q2 GDP which may confirm that the world's largest economy is in a technical recession further shortening the Fed tightening phase. To be sure, the knee-jerk relief in markets on possible crumbs of comfort from the Fed outlook echoes a pattern seen after earlier hikes. Those bouts of optimism stumbled on recession risks from a global wave of monetary tightening, Europe’s energy woes and China’s property sector and Covid challenges. “We do feel the hikes are going to slow from these levels,” Laura Fitzsimmons, JPMorgan Australia’s executive director of macro sales, said on Bloomberg Television. But financial-industry participants are skeptical about the pricing indicating Fed rate cuts in 2023, she added. “As the tug-of-war between inflation and recession fears plays out in the second half of the year, we expect to see highly volatile markets,” Richard Flynn, UK Managing Director at Charles Schwab, wrote in a note. All eyes have also been on corporate earnings for signs of resilience in profit margins to surging inflation and weaker sentiment. A record number of US and European firms worth more than $9.4 trillion will report their results on Thursday. Of these $6.8 trillion are 55 S&P500 companies if constituents of the Nasdaq 100 are included. That comes on the heels of the Fed raising rates by 75 basis points for a second month, saying such a move is possible but that the pace of hikes will slow at some point. Chair Jerome Powell said policy will be set meeting-by-meeting as he tries to control rising prices amid signs of an economic slowdown. Big Tech will be a particular focus again with results from Amazon, Apple and Intel. “We see the earning season as a mixed bag and it’s not necessarily very good news looking forward because we have an economic momentum that is this decelerating very fast and we also have central banks all around the world hiking interest rates,” Geraldine Sundstrom, portfolio manager for asset allocation strategies at Pimco, said on Bloomberg TV. “For financial markets, the risk of the Fed taking an overly aggressive stance has eased over the past week due to mixed growth and inflation data,” said Gurpreet Gill, macro strategist of fixed income and liquidity solutions at Goldman Sachs Asset Management. “Growing evidence of slowing demand has curbed the need for speed –- hence the Fed did not provide forward guidance on its policy path.” The dovish Fed euphoria also helped lift European stocks, which initially faded a strong opening bounce only to recover all gains. Euro Stoxx 600 rose 0.5%, with the FTSE MIB outperforming, adding 0.8%, IBEX lags, dropping 1.3%. Telecoms, food & beverages and utilities are the worst-performing sectors. The Stoxx 600 Basic Resources index rose as much as 3.6%, the top-performing sub-index in the benchmark, following well-received results and with metals prices gaining. ArcelorMittal jumped following a cash flow beat and new buyback in its results, while Anglo American gains as its earnings and dividend both topped expectations. Other steel stocks SSAB, Voestalpine higher after ArcelorMittal and after beat from Acerinox. Copper miners KGHM and Antofagasta the biggest gainers with copper price up for fifth day. Here are some of the most notable market movers: Shell rises as much as 2.2% after the company reported what RBC Capital Markets described as strong results and announced that it will repurchase a further $6 billion of shares in the third quarter. Renewable energy companies’ shares soared following a deal by US senators to advance a bill that will spend hundreds of billions of dollars on energy security and climate change. Vestas Wind Systems stock gained as much as 15%, Nordex +12%, Orsted +6.5%, SMA Solar +7.6%, Meyer Burger +9.3% Schneider Electric shares were up as much as 5.2% after it reported a strong set of results; analysts welcome the increased FY growth targets and the company’s ability to pass on inflation. Diageo rises as much as 2.7% after the British distiller’s FY22 organic sales beat estimates. The group reiterated its medium-term guidance even as it expects a challenging environment for FY23. Stellantis shares gain as much as 4.3%, after the carmaker reported 1H results that Jefferies called “impressive and clean.” TotalEnergies declines as much as 3.8%, after its plan to maintain the pace of buybacks disappointed some analysts amid expectations for accelerated share repurchases in the industry. Airbus shares fall as much as 6.6% in Paris after the aircraft maker cut its full-year delivery projections and pushed back ramping up the A320 build rate to 65 a month from summer 2023 until early 2024. Nestle shares drop as much as 2.2% after the company cut its margin outlook for the year. The results are “mixed,” given the sales beat and increased FY organic revenue forecast, but there are questions around margin, according to analysts. Fresenius Medical Care shares slide as much as 15% after the dialysis services firm issued a guidance downgrade that showed significant cost pressures on many fronts, Truist says in a note. Ironically, as Europe edges toward a full-blown energy crisis and recession, its manufacturing giants are raking in the cash. Luxury-car leader Mercedes-Benz joined Europe’s biggest chemicals maker BASF, Swiss building-materials producer Holcim, shipping company Hapag-Lloydand others to report a jump in profit and raise earnings forecasts for the year. The results offered a stark contrast to the wave of grim economic news sweeping across Europe. Confidence in the euro-area fell to the weakest in almost 1 1/2 years as fears of energy shortages haunt consumers and businesses, and the European Central Bank’s first interest-rate increase in a more than decade feeds concerns that a recession is nearing. Earlier in the session, Asian stocks also advanced after the Federal Reserve said it will slow the pace of interest-rate increases at some point. The MSCI Asia Pacific Index climbed as much as 1.1%, driven by gains in material and energy stocks. Equity benchmarks in the Philippines and New Zealand led gains in the region as a weakening dollar boosted risk appetite. “The stock markets may reverse their recent falls” following the Fed’s decision, said Heo Pil-Seok, chief executive officer at Midas International Asset Management in Seoul. “Starting today, we should see if there’s any changes in foreign fund flows, as outflows have somewhat eased recently,” he said, adding however that the stock rally may be short-lived as investors remain cautious on earnings. Gains in Asia were small relative to the rally in US stocks overnight, as investors monitored the latest local earnings along with China’s property crisis and the Covid situation. Asian tech bellwether Samsung Electronics provided a weak demand forecast Thursday, citing uncertainties following a rare earnings miss. Chinese benchmarks were flat amid the Politburo meeting and a possible call between Xi Jinping and Joe Biden. Elsewhere, traders are awaiting a phone call between President Joe Biden and China’s Xi Jinping, which could touch on US tariffs and other points of tension. Japanese equities climbed, following US peers higher on relief after the Federal Reserve raised interest rates by 75 basis points and indicated that monetary policy tightening will eventually slow down. The Topix rose 0.2% to 1,948.85 as of the market close in Tokyo, while the Nikkei 225 advanced 0.4% to 27,815.48 as the yen gained against the dollar, weighing on exporters such as Toyota. Recruit Holdings Co. contributed the most to the Topix’s gain, increasing 4.4%. Out of 2,169 shares in the index, 1,406 rose and 652 fell, while 111 were unchanged. “It does seem as if the market bottomed out at the end of June,” said Hitoshi Asaoka, a strategist at Asset Management One. “There is a sense that a rise in interest rates is receding worldwide and stocks are also calming down along with that.” Fed Hikes by 75 Basis Points as Powell Sees No US Recession Now In FX, the Bloomberg dollar spot index revered a drop of 0.6% to trade higher. SEK and DKK are the weakest performers in G-10 FX, JPY maintains outperformance, trading at 135.33/USD.  The yen was around 135.40 per dollar, after strengthening more than 1% to 135.11 in Asia, extending an overnight rise to hit a three-week high. It jumped by a similar amount against the euro and the Australian dollar. In rates, Treasury yields were little changed to 3bps lower in European trading after dropping on Wednesday. The Treasury curve extended Wednesday’s post-FOMC steepening move as short end leads recovery from losses during European morning. Declines followed a large downside options trade, while gilts and bunds have underperformed over the London session. Focal points of US session include first estimate of 2Q GDP and 7-year note auction.US long-end yields remain cheaper by ~2bp while front-end and belly yields are richer on the day, steepening 2s10s by ~2bp, 5s30s by ~3bp; 10-year yields around 2.79% are little changed with bunds cheaper by ~2bp, gilts by ~4bp. Bunds lag following German regional CPI data, with national gauge due at 8am ET. German curve steepens with two-year yields lower after some state inflation gauges slow, while rates at the longer end rise. US 10-year yields are steady at 2.79%. In commodities, WTI drifts 1.7% higher to trade below $99. Spot gold rises roughly $10 to trade near $1,745/oz. Most base metals trade in the green; LME zinc rises 3%, outperforming peers. Looking the day ahead, in addition to the US GDP we get core PCE, consumption, and jobless claims in the US. In Europe, German CPI and France PPI are due with the first German regional numbers out just after we press send this morning. Our economists expect MoM CPI at +0.8% in Germany, and +0.5% on the EU harmonized MoM measure. Market Snapshot S&P 500 futures down 0.3% to 4,011.25 STOXX Europe 600 up 0.2% to 428.98 MXAP up 1.0% to 160.34 MXAPJ up 0.8% to 524.61 Nikkei up 0.4% to 27,815.48 Topix up 0.2% to 1,948.85 Hang Seng Index down 0.2% to 20,622.68 Shanghai Composite up 0.2% to 3,282.58 Sensex up 1.7% to 56,792.04 Australia S&P/ASX 200 up 1.0% to 6,889.75 Kospi up 0.8% to 2,435.27 German 10Y yield little changed at 0.98% Euro little changed at $1.0206 Gold spot up 0.7% to $1,746.23 U.S. Dollar Index down 0.18% to 106.26 Top Overnight News from Bloomberg Chair Jerome Powell said the Federal Reserve will press on with the steepest tightening of monetary policy in a generation to curb surging inflation, while handing officials more flexibility on coming moves amid signs of a broadening economic slowdown. The yen catapulted higher against major peers on Thursday as lowered expectations for rate hikes caused hedge funds to cover short bets from one of the biggest global macro trades of the year. US Stocks Set to Dip After Biggest Tech Gain Since November 2020 Meta Disappoints With Forecast Miss, First-Ever Revenue Drop China Leaders Call for ‘Best’ Growth Outcome at Key Meeting US Offers Russia to Swap Jailed Basketball Star for Arms Deale US Aircraft Carrier Enters South China Sea Amid Taiwan Tensions US Offers Russia to Swap Griner and Whelan for Arms Dealer Bout Barclays Latest Bank to Make Provision for US WhatsApp Fine Yen Roars Back as Hedge Funds Cut and Run From Big Macro Short China-US Deal Needed Soon to Avoid Delistings, Gensler Says Alibaba’s Gains From Primary Listing Plan Wiped out in Two Days Samsung’s Profit Is Latest Tech Casualty to Recession Fears Senate Deal Includes EV Tax Credits Sought by Tesla, Toyota Manchin Backs $369 Billion Energy-Climate Plan, Rejects SALT A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks eventually traded higher across the board following the firm lead from Wall Street. ASX 200 saw firm gains across its Tech, Gold, and Mining sectors. Nikkei 225 gained in early trade and briefly topped the 28k mark before recoiling as the JPY saw a sudden bout of strength. KOSPI benefited from Samsung Electronics' rise post-earnings, although the firm echoed recent remarks from SK Hynix regarding weaker H2 memory demand. Hang Seng moved on either side of breakeven but later saw an upside bias as Hong Kong Finance Secretary said Hong Kong's H2 economic performance will be better than H1. Shanghai Comp eventually gained despite the recent cautious commentary from Chinese President Xi. Top Asian News Chinese Politburo says it will keep economic operations in a reasonable range. Australian Treasurer Chalmers said the final budget outcome for 2021/22 likely to show a dramatically better-than-expected outcome. Samsung Electronics (005930 KS) - Q2 2022 (KRW): Revenue 772tln (Co. exp. 77tln); operating profit 14.1tln (exp. 14tln). Net profit 11.1tln (exp. 10.3tln); Chip operating profit 9.98tln (exp. 11.08tln); expects weaker H2 phone/PC memory chip demand. South Korean President Yoon has ordered to take steps against illegal activities regarding stock short selling, via Yonhap. Hong Kong Finance Secretary said Hong Kong's H2 economic performance will be better than H1; property market fundamentals remain sound. Hong Kong Monetary Chief expects overnight and one-month interbank rate to continue to rise at a much faster pace; says HKD has been stable and has been operating in an orderly manner; public should be prepared for interbank rate to climb further, via Reuters. PBoC injected CNY 2bln via 7-day reverse repos with the maintained rate of 2.10% for a net drain of CNY 1bln. PBoC set USD/CNY mid-point at 6.7411 vs exp. 6.7425 (prev. 6.7731). Japanese government spokesperson says there is currently no plan to impose restrictions on people's movements following increasing COVID cases; Tokyo COVID cases reach 40,406 vs. previous record of 34,995. European bourses are modestly softer, Euro Stoxx 50 -0.10%, but relatively contained now after fading initial gains from the FOMC-inspired upside. Amid numerous earnings updates from Europe & in the US aftermarket. US futures are relatively stable but continue to post modest losses with the NQ -0.8% lagging amid pre-market downside in Meta post-earnings, -6.0%. Meta Platforms Inc (META) Q2 2022 (USD): EPS 2.46 (exp. 2.59), Revenue 28.82bln (exp. 28.95bln), Advertising revenue 28.15bln (exp. 28.53bln). Outlook reflects continuation of weak advertising demand environment it experienced throughout Q2. Guidance assumes FX will be about a 6% headwind to Y/Y total revenue growth in Q3. Co. said the economic downturn will have a broad impact on digital advertising business, says the situation seems worse than it did a quarter ago. -6.0% in the pre-market. Jack Ma intends to relinquish control of Ant Group, via WSJ sources; to transfer some voting power to executives, could push-back IPO timing by over a year. Top European News German consumer energy bill to increase by EUR 1k/year, following a cost shift, via Bloomberg; Effective from October 1st, via Reuters sources; levy will cover 90% of costs. Subsequently, German Economy Minister says the gas level would cost several hundred EURs per household. India to Restart Ukraine Sunflower Oil Imports as Trade Eases Wind, Solar Stocks Surge After US Energy Bill Agreement Vanguard Europe MD Says Climate Is Now ‘the Most Material Risk’ Schroders Up; Jefferies Says Results Show Resilience of Platform EDF Posts $1.3 Billion Loss as State Readies Nationalization Turkey Raises 2022 Inflation Forecast to 60.4% on Imports, Lira Central Banks BoJ Deputy Governor Amamiya said we must not loosen our grip in keeping monetary policy easy as there is no prospect yet of sustainably meeting the 2% inflation target. He added that consumer sentiment has been worsening due to rising energy and food prices. BoJ must be vigilant to financial and forex moves and their impact on economy and prices. ECB's Visco refrains from saying whether markets should expect a 25bps or 50bps hike in September; not prepared to say the ECB would go for 50bps in September in order to reach its target quicker. Adds, the ECB doesn't really know where its target is. BoK to strengthen monitoring of FX and capital flows following the FOMC hike, according to Bloomberg. HKMA raised its base rate by 75bps to 2.75%, as expected, following the earlier Fed rate hike. NBH hikes the one-week deposit rate to 10.75% (prev. 9.75%) at tender. CBRT Governor says the bank has enough FX reserves to meet high energy costs and reserves continue to increase. FX Fed leaves Dollar in limbo with no firm forward guidance and reliant on unfolding macro fundamentals, DXY depressed within 106.580-050 range vs pre-FOMC high of 107.430. Yen outperforms on prospect of less BoJ vs Fed policy divergence, USD/JPY sub-135.50 and key Fib level. Kiwi outpaces Aussie as NZ business outlook and activity turn less downbeat, while Australian retail sales miss consensus and slow to softest pace in 2022 so far; AUD/NZD retreats through 1.1150 as AUD/USD and NZD/USD hover just under 0.7000 and 0.6300 respectively. Pound extends gains against Euro through 0.8400 and chart trend line, but both fade from post-FOMC peaks vs Buck, Cable unable to reach 1.2200 and EUR/USD fails to hold above 1.0200. Lira and Forint flounder irrespective of supportive CBRT rhetoric and NBH raising 1-week deposit rate by 100bp, USD/TRY touches 17.9300 in wake of jump in year end Turkish CPI forecast and EUR/HUF approaches 408.00. Fixed Income Bonds remain volatile post-Fed, but curve steepening the clear trend as markets reset rate expectations to data rather than forward guidance. Bunds choppy within wide 154.75-155.87 extremes, Gilts between 116.70-117.19 parameters and T-note from 119-23+ to 120-08+. US Treasuries also conscious of looming 7 year supply after potentially pivotal Q2 GDP and jobless claims. Commodities WTI and Brent are firmer by over 1.5% on the session after spending much of the European morning relatively contained. European gas prices are significantly more contained when compared to price action earlier in the week but remain at elevated levels comfortably above EUR 200/MWh for TTF. Gazprom continues shipping gas to Europe via Ukraine, Thursday's volume is 42.1MCM (vs Monday's 42.2MCM). Shell (SHEL LN) has cut gas use at the Rotterdam Pernis (404k BPD) facility by 40% and at German sites by ~70%, due to the ongoing gas situation. India's gold demand in H2 is seen falling Y/Y due to lower disposable income; H1 gold demand rose 42% Y/Y, according to World Gold Council. Magnitude 6.3 earthquake hits Tocopilla in Chile, according to the EMS; 5.5 magnitude earthquake occurs near Nicaragua coast, via EMSC. Nornickel Q2 production: Nickel 48k tonnes, Palladium 709/koz, via Reuters. Spot gold is bid by just over USD 10/oz but, again, remains subject to USD action as while the index is bid it has dipped markedly. Amidst the USD’s relative weakness, base metals are similarly supported. US Event Calendar 08:30: 2Q GDP Annualized QoQ, est. 0.5%, prior -1.6% Personal Consumption, est. 1.2%, prior 1.8% PCE Core QoQ, est. 4.4%, prior 5.2% GDP Price Index, est. 8.0%, prior 8.2% 08:30: July Initial Jobless Claims, est. 250,000, prior 251,000 Continuing Claims, est. 1.39m, prior 1.38m 11:00: July Kansas City Fed Manf. Activity, est. 4, prior 12 DB's Jim Reid concludes the overnight wrap Just before the June FOMC, the surprise last minute leak that the Fed were about to hike rates by 75bps shocked yields much higher and equities much lower. However last night's routine 75bps July FOMC hike was cheered to the rafters by the equity market with yields also falling, especially at the front end. So how times change! Today we could see confirmation of the start of a technical recession in US with Q2 GDP out, and also German CPI which might show some signs of falling before we think it hits new highs again in the autumn. So a busy day. Back to the Fed and the expected 75bps hike brings the rate into territory that some Committee members may deem ‘neutral’ (Our full US econ review, here). The statement maintained guidance that the Committee sees further rate hikes, and thus moves into restrictive territory, as appropriate, even as the statement opened by acknowledging that some activity data had softened. Nothing in the statement came as a particular surprise, leaving equities and rates little changed upon release with the bulk of the rally after the press conference started. At the press conference, the Chair left open the possibility of another super-charged 75bp hike (or larger) in September, but demurred on providing forward guidance, saying that the Committee would be making policy decisions on a meeting-per-meeting basis. A tacit acceptance of what they have already been doing, to an extent. Nevertheless, the Chair did note that the SEP from June, that shows policy getting to between 3% and 3.5% by the end of year, and a terminal rate of 3.8% was probably still the best guide for the path of policy. Despite the continued insistence on more hikes being necessary, and inflation being much too high, markets instead latched onto the fact that the Committee was cognisant of the signs of slowing growth in the economy, and that the Fed would logically slow the path of tightening at some point. Upon this, markets priced in a shallower policy path, which saw 2yr Treasuries -5.5bps lower on the day, with 10yr yields down -2.2bps, and no more rate hikes in 2023 after hitting a terminal rate of 3.3%. What was left unsaid is that slowing growth has to translate to slowing inflation for the FOMC to pivot policy. That cuts are being priced in within six months when inflation is still climbing from lofty levels seems too optimistic. However this very much fits it with the current market narrative so this doesn't feel the time to fight it. That optimistic pricing path drove US equities through the roof after the FOMC, with the NASDAQ ending the day +4.06% higher, climbing around +1.58% after the FOMC events, it’s best daily return since April 2020, while the FANG+ was up +5.30%, its best day in two months. Tech stocks outperformed given the sensitivity of their valuations to rate policy, but the broad S&P 500 climbed +2.62% as well, with every sector in the green. After the FOMC, Meta missed analyst estimates, posting its first ever decline in sales over a quarter, and traded around -4.5% lower in after-hours trading. In the release the company also noted hiring has slowed this year much like its other mega cap brethren. This morning, S&P 500 futures are trading -0.14% lower, with Meta having taken some shine out of the post-FOMC glow. Elsewhere overnight, Senator Joe Manchin reportedly reached a deal with Senate Majority Leader Chuck Schumer on a tax and spending plan focused on climate spending, capping health care costs, while raising additional tax revenue. This will be a huge story out of Washington heading into the fall midterms, and the overall impact of the bill – which is being structured to pass through the reconciliation process and thus with a simple majority – will be assessed over coming days as more people get eyes on it. An announcement that came out of the blue after Senator Manchin shot down reconciliation efforts in light of growing inflation time and again. One we will surely be talking about more over the near-term. Ahead of the FOMC, equities were higher on both sides of the Atlantic on buoyant sentiment following optimistic forecasts from tech giants Microsoft and Alphabet the night before. European equities closed modestly higher across the board, with the STOXX 600 closing up +0.47%, the DAX +0.53% higher, and the CAC up +0.75%. The big focus in Europe remained on the gas situation. A German government spokesperson acknowledged there had been a reduction of gas supplies from Russia and noted there was no technical reason for Russia to cut supplies. European natural gas futures climbed another +2.54% on the day to €205. Core European and Treasury yield curves were flatter heading into the Fed, with 2yr bund yields climbing +8.7bps and 10yr bunds +2.0bps higher to 0.94%. The spread widening in BTPs continued, with 10yr BTPs +5.5bps wider to bunds at 236bps, just under 5bps from their widest levels reached in mid-June. Meanwhile, Treasury yields were lower across the curve, with the curve even more inverted. The data out before the Fed was never going to be the main driver of rates on the day, and they painted a mixed picture. Housing continued its torrid run, with pending home sales down -8.6% MoM versus expectations of -1.0%. Meanwhile, Durable Goods Orders expanded 1.9% versus -0.4% expectations, while inventories increased 1.9% as well versus 1.5% expectations. Those data helped some GDP trackers, with the Atlanta Fed’s nowcast for 2Q GDP increasing to -1.2% from -1.6% following the data. We get the first advance reading of US 2Q GDP today, but know today’s reading will be subject to many revisions before we have the final figure. 10yr TSY yields are little changed at 2.78% as we go to press this morning. Brent crude futures climbed +2.13% to $107/bbl, following EIA data that showed inventories fell by 4.52mln barrels, while demand for gasoline in the US looks more robust than some recent survey measures have suggested, putting more upward pressure on energy. Finally, a Biden aide said the Iran deal was not likely to return in the near future, effectively keeping potential additional supply from hitting the market for longer. Asian equity markets are trading higher this morning following the Fed. Stocks in mainland China are gaining with the Shanghai Composite (+0.89%) and the CSI (+0.95%) both up whilst the Nikkei (+0.32%), the Hang Seng (+0.20%) and the Kospi (+0.97%) all edging higher. Early morning data showed that retail sales in Australia rose +0.2% m/m in June, its slowest pace this year and down from May’s downwardly revised +0.7% pace of growth and falling short of markets expectations of a +0.5% increase. The soft data represents that soaring inflation and rising interest rates may be finally hampering consumer demand. To the day ahead, in addition to the US GDP we get core PCE, consumption, and jobless claims in the US. In Europe, German CPI and France PPI are due with the first German regional numbers out just after we press send this morning. Our economists expect MoM CPI at +0.8% in Germany, and +0.5% on the EU harmonized MoM measure. Tyler Durden Thu, 07/28/2022 - 08:04.....»»

Category: blogSource: zerohedgeJul 28th, 2022

Denny"s (DENN) Stock Jumps 6.6%: Will It Continue to Soar?

Denny's (DENN) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Denny's DENN shares soared 6.6% in the last trading session to close at $9.15. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.5% loss over the past four weeks.Denny's rally is largely driven by optimism regarding the company’s improvement in sales trends backed by its off-premise business, improving transaction counts and effective pricing strategies. Also, emphasis on strategic initiatives such as the roll out of new kitchen equipment and beta testing of new cloud-based restaurant technology platform bodes well for the company.This restaurant operator is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of -22.2%. Revenues are expected to be $110.69 million, up 4.3% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Denny's, the consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on DENN going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Denny's is part of the Zacks Retail - Restaurants industry. Wendy's (WEN), another stock in the same industry, closed the last trading session 0.6% higher at $20.64. WEN has returned 9.6% in the past month.For Wendy's, the consensus EPS estimate for the upcoming report has changed -2% over the past month to $0.22. This represents a change of -18.5% from what the company reported a year ago. Wendy's currently has a Zacks Rank of #3 (Hold). 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 Denny's Corporation (DENN): Free Stock Analysis Report The Wendy's Company (WEN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 28th, 2022

Clarus Corporation (CLAR) Stock Jumps 9.1%: Will It Continue to Soar?

Clarus Corporation (CLAR) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Clarus Corporation CLAR shares soared 9.1% in the last trading session to close at $19.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.5% loss over the past four weeks.Clarus’ rally is largely driven by optimism regarding the company’s solid order book with Black Diamond. The company’s activity-based brands continues to show resistance to economic headwinds. Also, attributes such as new product introductions, increased capacity and expansion of global distribution bodes well.This company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $110.1 million, up 50.2% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Clarus Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLAR going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Clarus Corporation is part of the Zacks Leisure and Recreation Products industry. OneWater Marine (ONEW), another stock in the same industry, closed the last trading session 0.4% higher at $36.14. ONEW has returned 6.5% in the past month.For OneWater Marine, the consensus EPS estimate for the upcoming report has changed -1% over the past month to $3.49. This represents a change of +14.8% from what the company reported a year ago. OneWater Marine currently has a Zacks Rank of #3 (Hold). 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 Clarus Corporation (CLAR): Free Stock Analysis Report OneWater Marine Inc. (ONEW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 28th, 2022

Digi International (DGII) Soars 5.1%: Is Further Upside Left in the Stock?

Digi International (DGII) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Digi International DGII shares ended the last trading session 5.1% higher at $27.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.5% gain over the past four weeks.The increase in share price is attributed to robust demand for industrial IIoT products which is driving both the company’s bookings and backlog. The company offers IoT connectivity products, services and solutions globally.Digi International is benefiting from increasing  demand for console server and cellular solutions along with healthy growth opportunities in smart city and mass transit as well as data center and edge applications’ markets. Shift to subscription-centric model and acquisitions like Ventus bode well.For the third quarter of fiscal 2022, the company is expecting revenue in the range of $94-$98 million, representing 19% to 24% growth on a year over year basis. Non-GAAP earnings per share are expected in the range of 37-40 cents. The company is scheduled to report fiscal third quarter earnings on Aug 4, 2022.This provider of communication adapters is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of +322.2%. Revenues are expected to be $95.93 million, up 21.3% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Digi International, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DGII going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Digi International is a member of the Zacks Computer - Networking industry. One other stock in the same industry, Radcom (RDCM), finished the last trading session 2.2% lower at $11.35. RDCM has returned 4.5% over the past month.Radcom's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. Compared to the company's year-ago EPS, this represents a change of +150%. Radcom currently boasts a Zacks Rank of #3 (Hold). 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 Digi International Inc. (DGII): Free Stock Analysis Report Radcom Ltd. (RDCM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 28th, 2022

Bank Hapoalim (BKHYY) Soars 6.7%: Is Further Upside Left in the Stock?

Bank Hapoalim (BKHYY) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term. Bank Hapoalim (BKHYY) shares soared 6.7% in the last trading session to close at $47.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.4% loss over the past four weeks.Investors are bullish on the banking sector on expectations of interest rate hikes and decent demand for commercial and consumer loans. This possibly led to the optimistic stance by the investors, which drove Bank Hapoalim stock higher.This company is expected to post quarterly earnings of $1.35 per share in its upcoming report, which represents a year-over-year change of -16.7%. Revenues are expected to be $1.17 billion, up 8% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Bank Hapoalim, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BKHYY going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Bank Hapoalim is a member of the Zacks Banks - Foreign industry. One other stock in the same industry, Canadian Imperial Bank (CM), finished the last trading session 1.6% higher at $49.68. CM has returned 0.2% over the past month.For Canadian Imperial Bank, the consensus EPS estimate for the upcoming report has changed -0.1% over the past month to $1.45. This represents a change of -9.4% from what the company reported a year ago. Canadian Imperial Bank currently has a Zacks Rank of #3 (Hold). 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 Bank Hapoalim (BKHYY): Free Stock Analysis Report Canadian Imperial Bank of Commerce (CM): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksJul 28th, 2022

Wabtec (WAB) Surges 5.6%: Is This an Indication of Further Gains?

Wabtec (WAB) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. Westinghouse Air Brake Technologies (WAB) or Wabtec shares ended the last trading session 5.6% higher at $91.85. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4% gain over the past four weeks.The uptick was driven by the deal signed by Wabtec with major railroad operator, Union Pacific UNP. The locomotive modernization deal (estimated value of more than $1 billion) is the largest in the rail industry. Following the deal, Wabtec is responsible for modernizing 600 locomotives owned by Union Pacific. The procedure will result in the recycling of about 70,000 tons of steel and a reduction of 350 tons of carbon per year for every modernized locomotive following fuel efficiency upgrades.This maker of parts for locomotives, subways and buses is expected to post quarterly earnings of $1.22 per share in its upcoming report, which represents a year-over-year change of +15.1%. Revenues are expected to be $2.08 billion, up 3.5% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Wabtec, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WAB going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Wabtec is part of the Zacks Transportation - Equipment and Leasing industry. Air Lease (AL), another stock in the same industry, closed the last trading session 2.8% higher at $35.43. AL has returned 5.1% in the past month.For Air Lease, the consensus EPS estimate for the upcoming report has changed -4.9% over the past month to $0.96. This represents a change of +28% from what the company reported a year ago. Air Lease currently has a Zacks Rank of #3 (Hold). 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 Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report Union Pacific Corporation (UNP): Free Stock Analysis Report Air Lease Corporation (AL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 28th, 2022

VIZIO Holding Corp. (VZIO) Stock Jumps 8.8%: Will It Continue to Soar?

VIZIO Holding Corp. (VZIO) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term. VIZIO Holding Corp. (VZIO) shares soared 8.8% in the last trading session to close at $9.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.1% gain over the past four weeks.VIZIO Holding has been benefiting from its robust innovation design, along with leading technology and strong accessibility. The company has been gaining from its capability to deliver impressive home theatre experience.  VIZIO Holding recently announced its much awaited 2023 M-Series audio collection, which has already received a CES Innovation Award as well as an iF Product Design award.This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +75%. Revenues are expected to be $428.8 million, up 6.9% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For VIZIO Holding Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VZIO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>VIZIO Holding Corp. belongs to the Zacks Consumer Products - Discretionary industry. Another stock from the same industry, The RealReal (REAL), closed the last trading session 8.1% lower at $2.16. Over the past month, REAL has returned -29%.The RealReal's consensus EPS estimate for the upcoming report has changed +4.4% over the past month to -$0.42. Compared to the company's year-ago EPS, this represents a change of +16%. The RealReal currently boasts a Zacks Rank of #4 (Sell). Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report VIZIO Holding Corp. (VZIO): Free Stock Analysis Report The RealReal, Inc. (REAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 27th, 2022

Harte-Hanks (HHS) Stock Jumps 5.1%: Will It Continue to Soar?

Harte-Hanks (HHS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road. Harte-Hanks (HHS) shares soared 5.1% in the last trading session to close at $13.37. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.8% gain over the past four weeks.The stock is benefiting from the company’s diversified revenues across segments and customers, and its growing presence in the healthcare and consumer products verticals.This marketing company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +88.2%. Revenues are expected to be $49.3 million, up 0.1% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Harte-Hanks, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HHS going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Harte-Hanks belongs to the Zacks Advertising and Marketing industry. Another stock from the same industry, Clear Channel Outdoor (CCO), closed the last trading session 7.8% higher at $1.39. Over the past month, CCO has returned 4%.For Clear Channel Outdoor, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of +88.9% from what the company reported a year ago. Clear Channel Outdoor currently has a Zacks Rank of #4 (Sell). This Little-Known Semiconductor Stock Could Lead to Big Gains for Your Portfolio The significance of semiconductors can't be overstated. Your smartphone couldn't function without it. Your personal computer would crash in minutes. Digital cameras, washing machines, refrigerators, ovens. You wouldn't be able to use any of them without semiconductors. Disruptions in the supply chain have given semiconductors tremendous pricing power. That's why they present such a tremendous opportunity for investors. And today, in a new free report, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most. It's yours free and with no obligation. >>Give me access to my free special report.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 Harte Hanks, Inc. (HHS): Free Stock Analysis Report Clear Channel Outdoor Holdings, Inc. (CCO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 26th, 2022