Nordstrom, Inc. (NYSE:JWN) reporting better-than-expected third quarter financial results earlier this week wasn't enough to satisfy analysts at UBS, who reiterated their ‘Sell’ rating on the stock.
“We believe weak sales will cause earnings misses which pressure the stock,” the analysts wrote in a note to clients.
Inflation is dropping faster than expected, with initial projections of 3.9% for the year revised down to 3.7%, which could prompt the Federal Open Market Committee (FOMC) to recalibrate its inflation projections.
From a June projection of 3.9%, the full-year core Personal Consumption Expenditures (PCE) inflation was revised to 3.7% in September. Recent data suggests a potential decline to 3.4%, with a 2.5% 6-month annualized change in core PCE prices expected in the upcoming release.
Uranium price momentum has accelerated over the past week, with prices exceeding US$80 per pound to reach a 15-year high, as financial institutions, producers and utilities remain active buyers, according to Jefferies analysts.
In an update to clients, they singled out the Sprott Physical Uranium Trust (SPUT), which recently secured a further $125 million in funding that will be put towards the purchase of physical pounds.
Apple Inc (NASDAQ:AAPL) is in a strong position heading into the holiday season thanks to strong iPhone demand in China, according to analysts at Wedbush.
“Our recent Asia supply chain checks remain very firm for Apple's iPhone 15 into an important holiday season with particular strength in the China region despite all the negative bear noise a few months ago,” the analysts wrote.
Liberum recently highlighted Ilika PLC (AIM:IKA, OTCQX:ILIKF)'s significant advancements in its Goliath and Stereax divisions in an extensive research note.
According to analysts, these developments mark notable milestones for Ilika, reflecting its solid progress and potential in the high-growth sectors it operates in.
Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF) (JOG) has struck deals that give it a free carry of 20% on a North Sea project slated to have peak production of 35,000 barrels of oil a day - and is scheduled to get underway in late 2026.
Here, we get under the skin of the deal, look at its nuts and bolts and garner City opinion - looking at it from both sides of the transaction.
With the growth in popularity of Shield Therapeutics PLC's (AIM:STX, OTCQX:SHIEF) Accrufer prescription iron medicine, Stifel has initiated coverage with a 'buy' rating on the company.
Accrufer, which is prescribed treats iron deficiency and anaemia, has seen a "dramatic" acceleration in prescription and sales growth since being launched in mid-2021 and following last December's co-promotion agreement with Viatris that increased the promotional field force in the US from 22 reps to 100 now.
Sentiment toward Ulta Beauty (NASDAQ:ULTA) has turned overly negative, resulting in its share trading near trough valuation levels, analysts at Jefferies said as they maintained a ‘Buy’ recommendation on the stock.
While reducing their price target for Ulta to $518 from $580, the analysts noted that level still presents a 27% upside to its current share price of just below $410, which discounts fears around margin deleverage from shrink, investments, and promos.
Temu has experienced incredible growth in the United States and may pose a risk to other retailers targeting low-income young adults, analysts at the Bank of America believe.
The Boston-based, Chinese-owned shopping app which offers a range of low-priced goods launched in the United States in September 2022.
Amazon.com Inc (NASDAQ:AMZN)’s shares have climbed 71% so far in 2023 but analysts at Jefferies see more upside due to an improving outlook for its Amazon Web Services (AWS) unit and its enhancing position in artificial intelligence.
From its Tuesday’s close at $144, the analysts noted that Amazon has another 22% to go to meet their $175 price target.
Nvidia Corporation (NASDAQ:NVDA) shares may be lower Tuesday, but the chipmaker is "Livin' NVDA Loca" following another beat-and-raise quarter, analysts at Wedbush wrote.
The company’s third-quarter sales came to $18.12 billion, more than triple what it reported in the year-ago quarter and well above Street expectations of $16.18 billion.
Sonos (NASDAQ:SONO) plans to release high-end over-the-ear headphones as early as April which will be priced at more than $400, according to a report from Bloomberg.
The company, best known for its smart speakers, is also reportedly working on smaller in-ear wireless earbuds and a streaming box for TV.
Microsoft Corporation (NASDAQ:MSFT) has seen a "Cinderella ending" to the OpenAI saga after OpenAI agreed to hire back Sam Altman as its CEO with a new initial board of directors consisting of Bret Taylor (chair), former US Treasury Secretary Larry Summers, and Adam D' Angelo, according to Wedbush analysts.
In an update to clients, the analysts stated they believe OpenAI will be virtually the same as before the "soap opera" began; however, it will have a much stronger governance now in place, which is key.
Nvidia Corporation (NASDAQ:NVDA) has done it again with a walloping $2 billion revenue beat in the third quarter, in further proof that Wall Street simply cannot get a grip on the fabless semiconductor giant’s persistent growth.
Third-quarter sales came to $18.12 billion, more than triple what it reported in the year-ago quarter and well above Street expectations of $16.18 billion.
Hugo Boss is making impressive progress in overcoming the tough trading environment for luxury goods, according to analysts.
Analysts at Deutsche Bank said the company, which is listed on the Frankfurt Stock Exchange, is outperforming its peers by continuing to invest in its brands and “keeping up the brand heat”.
Zscaler Inc is well positioned to exceed expectations and raise its full year 2024 billings guidance when the cybersecurity company reports its first quarter fiscal 2024 financial results after the market closes on November 27, according to Jefferies analysts.
In an update to clients, the analysts maintained their ‘Buy’ rating and $225 price target on Zscaler stock, noting the setup feels more attractive given moderated expectations following lackluster results from other cybersecurity companies such as Palo Alto Networks Inc (NYSE:PANW).
Okta Inc (NASDAQ:OKTA) doesn’t need to do much to beat expectations when it reports third-quarter results on November 29, according to analysts at Jefferies.
The IT services firm is expected to report earnings of $0.30 per share on revenue of $563.14 million, compared to $0 per share on revenue of $481 million a year earlier.
Petco Health and Wellness Company likely saw muted sales in the third quarter, analysts at UBS wrote in a note to clients ahead of the pet care retailer’s earnings report being handed down before the stock market opens on Wednesday, November 29.
The analysts wrote that Petco’s results would likely feature stable consumable sales but there remained several unknowns.
Victoria's Secret & Co. (NYSE:VSCO)'s upcoming third quarter results present a balanced risk-to-reward ratio for investors, analysts at UBS believe.
The intimate apparel retailer is set to report its 3Q earnings after the stock market closes on Wednesday, November 29.
Foot Locker, Inc. (NYSE:FL) will report its third-quarter results before the market opens on November 29, and analysts at UBS are calling for a letdown relative to expectations.
The shoe retailer is expected to report earnings of $0.23 per share on revenue of $1.97 billion, compared to $1.27 per share on revenue of $2.17 billion.
VinFast Auto Ltd (NASDAQ:VFS) is a global electric vehicle (EV) player in the making with market share gains on the horizon into 2024, according to Wedbush analysts.
In a note to clients, they initiated coverage on VinFast stock with an ‘Outperform’ rating and a $12 per share price target, implying more than 100% upside from current levels.
Dollar Tree, Inc. (NASDAQ:DLTR)'s third quarter earnings report should help the chain of dollar stores re-establish some credibility with the market and support the bull case for the stock, analysts at UBS believe.
The retailer, whose dollar stores include Dollar Tree and Family Dollar, is due to report its financial results on Wednesday, November 29, before the stock market opens.
Zoom Technologies Inc (NASDAQ:ZOOM)'s revenue guidance for the upcoming financial year is at risk as the video conferencing software company’s enterprise bookings continue to slow down, analysts at Wedbush believe.
“When we analyze what enterprise revenue growth could look like based on billings growth this year, we end up with an estimate of low-single digits and hence total revenue growth for the 2025 financial year could also be in the 3% range,” they wrote in a note to clients following the release of Zoom’s third quarter fiscal 2024 financial results after Monday’s closing bell.
Microsoft Corporation (NASDAQ:MSFT) CEO Satya Nadella’s "poker move for the ages" will see the tech giant absorb former OpenAI CEO Sam Altman, Brockman, and the entire OpenAI for its initial $10 billion investment, Wedbush analysts stated in a note to clients.
"The circus and clown show with the OpenAI board continues to play out as now nearly all of the 700+ OpenAI employees have signed a letter saying they will resign if the four person board does not resign," the analysts wrote.
Investor expectations are high for Nvidia Corporation (NASDAQ:NVDA) heading into the company’s third quarter earnings report due on Tuesday, November 21 after the market close.
Wall Street analysts expect the chipmaker to report an almost 480% year-over-year increase in earnings per share to $3.36.
Deutsche Bank AG (NYSE:DB) has weighed in on UK retail stocks, naming its top picks after it initiated coverage of the sector for the first time.
ASOS PLC (LSE:ASC), B&M European Value Retail SA (LSE:BME) and Marks and Spencer Group PLC (LSE:MKS) are all ‘buys’ as they all have “specific and interesting investment cases”, the German bank revealed.
PENN Entertainment Inc’s ESPN Bet is dominating initial download activity and charts, proving it is cutting through to customers, according to Bank of America (BofA) analysts.
In a note to clients, they upgraded shares of the integrated entertainment, sports content, and casino gaming experiences company to ‘Buy’ from ‘Neutral’ and raised their price objective to $30 from $27, implying 22% upside from Friday’s closing price.
Energizer Holdings (NYSE:ENR)'s valuation appears “fully charged” with the risk/reward now balanced, analysts at UBS said as they downgraded the stock to ‘Neutral’ from ‘Buy’.
In a client note, the analysts also lowered their estimate for the battery manufacturer’s 2024 earnings to $3.13 per share, down from $3.25, and towards the lower end of the company’s own guidance range and 2% below analysts’ consensus.
Six Flags Entertainment (NYSE:SIX)'s merger with Cedar Fair (NYSE:FUN) materially increases value for shareholders, analysts at Jefferies said as they awarded the company with a ‘Buy’ rating, from ‘Hold’.
What’s more, they raised their price target on Six Flags to $32 from $25, saying “the pro forma math is compelling.”
Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF), up 5% on Monday, is poised for a significant rebound, according to RBC Capital's latest analysis.
The company is expected to unveil a three-year production and cost guidance at its Capital Markets Day on 22 November, which is anticipated to highlight improvements in production and cost efficiency.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) (DEC) is delivering consistent and reliable results and its shares are at a substantial discount compared to the oil firm’s American peers, according to analysts at stockbroking firm Cavendish.
In a note, following DEC’s most recent financial results released last week, analyst James McCormack retained a 150p price target – suggesting around 100% upside to the share’s current price of 73.45p.
Barclays Capital has issued an optimistic assessment of AstraZeneca PLC (LSE:AZN)'s shares, recommending an 'overweight' position with a target price of £135, a significant premium to the current market valuation of £101 per share.
The confidence in AZ, a major biopharmaceutical firm, stems partly from its recent third-quarter performance, which saw the company raising its full-year guidance to levels that align closely with Barclays' estimates.
One of the key figures to catch Peel Hunt’s eye in Sirius Real Estate Limited (LSE:SRE, JSE:SRE, OTC:SRRLF)’s interims was the sturdy growth of the REIT’s rent roll.
On a like-for-like basis, Sirius’ rent roll increased by 7.7% year on year in the six months ending 30 September 2023.