Intel Corporation (NASDAQ:INTC) has the potential to deliver upside to the consensus third-quarter 2023 financial results when the semiconductor giant releases its numbers after Thursday's close, according to Wedbush analysts.
In an update to clients, they highlighted signs of generally better-than-expected consumer demand trends that should continue to boost personal computer (PC) builds, as well as a bit of a year-end bump in enterprise IT spending combined with strengthening AI builds as reasons for their optimism.
Analysts at Wedbush believe IMAX Corp (NYSE:IMAX) will likely outperform full-year estimates after reporting a record third quarter for earnings before interest, taxes, depreciation and amortization (EBITDA).
They believe the cinema equipment provider is on track to top its fiscal 2023 guidance on EBITDA margins in the mid-30s, installations of 110 to 130 screens, and total box office takings of $1.1 billion.
Ocean Power Technologies Inc (NYSE-A:OPTT)'s recent contract with WildAid and Caribbean Law Enforcement as well as its $1.6 million additional volume order from Sulmara further solidify the company’s commercial pipeline, according to Water Tower Research analysts.
In an update to clients, they noted that OPT’s WAM-V 16, a highly versatile and capable vessel, should help Sulmara revolutionize marine data collection.
Amazon.com Inc (NASDAQ:AMZN) stock has surged 38% year-to-date, bolstered by enhanced profitability, emerging AI opportunities, and indications of an Amazon Web Services (AWS) recovery, putting its upcoming 3Q earnings firmly in the spotlight.
However, the e-commerce giant's stock traded lower ahead of its earnings report on Thursday, down 1.8% at US$119.20.
Lloyds Banking Group put in a stronger-than-expected performance post-Barclays in deposit volumes and pricing, analysts at major investment banks said.
Unlike some rivals the UK's largest lender maintained its net interest margin (NIM) guidance, making the bank look to be undervalued at current levels, said UBS.
Europe’s car sector is experiencing a significant shortening of order backlogs, signalling weakening steel demand by the end of the year and having implications for steel makers in Europe and platinum miners, according to UBS.
Another risk is the growing cost advantage of Chinese EV producers, driven by their 25% lower production costs compared to traditional OEMs.
Analysts covering Wagamama-owner The Restaurant Group PLC (LSE:RTN) were quick to warn that the takeover offer of 65p per share from Apollo Global Management (NYSE:APO) was too low.
Even the market hovered at 66p, looking as if it was awaiting another chapter in the saga.
This week's giant US$137 billion stimulus from Beijing made barely a ripple in markets, but UBS sees it as one of several underappreciated factors that could boost Chinese stocks and global demand for the mining sector in the coming year.
Mark Haefele, chief investment officer at the Swiss bank, suggests that the new round of fiscal stimulus could significantly benefit both the Chinese economy and investor sentiment.
Inchcape PLC (LSE:INCH) posted £2.8 billion of revenue for the third quarter of 2023, up 35% year on year, reporting strong growth in automotive distribution after its merger with Derco.
Sales from distribution at the London-based car distributor and retailer rose 47% year over year, while retail was up 2%, it said in a trading update on Thursday.