earningsreports
Peloton Interactive Inc (NASDAQ: PTON) jumped 10% in premarket on Thursday after coming in ahead of Street estimates for its fiscal fourth quarter, indicating that the embattled connected fitness company may finally be starting to get hold of its long-standing struggles under the interim CEO. The exercise equipment maker reported 8 cents of per-share loss on $643.6 million in revenue for Q4. Analysts, in comparison, were at 17 cents a share and $628.47 million, respectively. The topline, however, remained roughly unchanged on a year-over-year basis. Financial distress has weighed significantly...
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Baird’s reaffirmation of its “Outperform” rating on eBay Inc. (NASDAQ: EBAY) underscores the investment firm’s continued confidence in the online marketplace giant. With a price target of $62.00, Baird projects a potential upside of approximately 9% from eBay’s current trading price. This endorsement follows an encouraging analysis of eBay’s transaction data for July, which showed slightly better month-over-month growth than historical averages. While Baird remains optimistic, they are cautiously awaiting the impact of the back-to-school season and early holiday trends before making any furthe...
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The mortgage banking industry made a strong recovery in the second quarter of 2024, demonstrating resilience amid economic uncertainty. Independent mortgage banks and mortgage subsidiaries of chartered banks reported significant increases in pre-tax net profits per loan, reversing the downward trend from previous quarters. The Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report highlighted these positive developments, providing a comprehensive look at the industry’s performance during this period. In the United States, the MBA Weekly Mortgage Application Survey o...
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The VanEck Semiconductor ETF (SMH), iShares Semiconductor (SOXX), T-Rex 2x Long NVIDIA Daily Target (NVDX), and the Technology Select Sector Fund (XLK) ETFs will be in the spotlight in the next few days. The four funds have done well this year, with the XLK rising by over 16.5% this year and the SMH and SOXX by 41% and 20%, respectively. The NVDX fund has jumped by over 395%, making it one of the best-performing funds this year. Nvidia is a big constituentThese ETFs have one thing in common: Nvidia is their biggest constituent. Nvidia is one of the biggest constituents of the XLK ETF, with a 2...
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nCino Inc. (NASDAQ: NCNO) received a significant boost today when Goldman Sachs upgraded its rating from Neutral to Buy, with a new price target of $42, up from $34. This change reflects Goldman’s growing confidence in nCino’s ability to navigate recent business challenges and capitalize on new growth opportunities. Analyst Adam Hotchkiss noted that nCino is expected to overcome headwinds such as high interest rates and peak mortgage customer churn, thanks to improving retention rates and better cross-selling efforts. Hotchkiss highlighted nCino’s strong innovation track record and deep-rooted...
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VinFast (VFS) stock price has remained in a tight range since October last year as concerns about the Vietnamese company continued. In this period, the stock has remained between the key support at $2.10 and the resistance point at $9. It is down by over 90% from its all-time high, giving it a market cap of over $9 billion. Risky EV betOn Tuesday, we wrote about Mullen Automotive, an American electric vehicle company that seems to be destined to run out of money and file for bankruptcy soon. Mullen joins other companies like Lordstown Motors and Fisker that have run out of money. Others like C...
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Home Depot Inc (NYSE: HD) has recently reported its Q2 earnings, and while its guidance may appear cautious, it is consistent with market expectations. Michael Baker, a senior retail analyst at D.A. Davidson, believes that despite the muted outlook, Home Depot is poised for future growth. Home Depot’s updated forecast for 2024 projects a decline in comparable sales of 3.0% to 4.0%, compared to its earlier forecast of a 1.0% decline. Despite this adjustment, Baker remains bullish on the stock, highlighting that the current market sentiment had already factored in a downward revision. The stock’...
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As Walmart Inc (NYSE: WMT) and Home Depot Inc (NYSE: HD) prepare to report their quarterly earnings next week, UBS analyst Michael Lasser anticipates mixed signals from the retail giants. While Home Depot is expected to issue conservative guidance, Walmart’s performance is projected to be stronger, reflecting its recent strategic initiatives. Home Depot: Conservative outlook but long-term potentialHome Depot is scheduled to announce its earnings on August 13. Lasser predicts the home improvement retailer will maintain its conservative approach, reflecting a cautious but stable outlook for the ...
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The FTSE 100 index has crawled back in the past four days, erasing most of the losses made on Monday when global stocks tanked amid Japanese yen carry trade fears. The index has soared to £8,200, up from this week’s low of £7,916. The Footsie was in the spotlight because of several important earnings and last week’s Bank of England (BoE) interest rate decision. In it, the bank decided to slash interest rates by 0.25%, moving the headline rate to 4.75%. Several important FTSE 100 constituent companies published their financial results this week. Glencore, the giant mining company published its ...
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Renowned investor Jim Cramer is optimistic about Robinhood’s future, predicting further gains for the stock in the coming days. Despite a modest rise in Robinhood Markets Inc.’s stock price on Thursday, the company’s recent earnings report exceeded Wall Street’s expectations for Q2. Robinhood Q2 earnings report Robinhood’s second-quarter performance showcased a robust 69% year-over-year growth in transaction-based revenue, driven by increased trading in both stocks and cryptocurrencies. The resurgence of the meme stock phenomenon also contributed to the firm’s impressive quarterly results. Cra...
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