stockmarket
Weakness in Target Corp (NYSE: TGT) since late March is an opportunity to buy a quality name at a discount, as per analysts at Citi. Target stock has upside to $180The investment firm raised its rating on the retail behemoth this morning to “buy”. Its shares, the analysts are convinced, could climb to $180 or 13% from here. Citi turned bullish on Target stock today as its experts now see it on a stable path after a year or two of turbulence. We believe $TGT has emerged as one of the winners within the retail landscape with an opportunity to improve EBIT margin in years to come (particularly in...
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The iShares Russell 2000 ETF (IWM) has continued to underperform its bigger rivals like the SPDR S&P 500 ETF (SPY) and the Invesco QQQ (QQQ) ETFs. It has risen by just 2.2% this year while the other two have soared by over 5%. This is a trend that has been going on for a long time as mega-cap companies like Apple, Amazon, Nvidia, and Alphabet have continued soaring. The Russell 2000 index is mostly made up of smaller companies with thinner balance sheets and profitability. IWM vs SPY vs QQQ ETFs Best-performing Russell 2000 ETF stocksStill, the index has had some of the best-performing compani...
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Ocugen (NASDAQ: OCGN) stock price has launched higher since last year, helped by the rising hopes that OCU400 will be approved by the Food and Drug Administration (FDA). The stock surged by over 378% from its lowest point in September and by 183% this year. OCU400 could be a gamechangerOcugen is a biotech company that gained popularity during the Covid-19 pandemic as it worked on OCU500, a Covid vaccine. At the time, its stock surged to a high of $17.46, giving it a market valuation of over $12 billion. Now, the focus among investors has turned to OCU400, a new drug that will treat a rare cond...
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Peloton Interactive Inc (NASDAQ: PTON) is up 20% on Tuesday following a report that private equity firms have shown interest in acquiring the connected fitness company. $PTON has formally engaged with one private equity firmAnonymous sources told CNBC this morning that the exercise equipment manufacturer has held formal discussions with at least one firm. A bunch of others are interested in taking over $PTON as well but it’s unclear if they have formally engaged with the Nasdaq-listed firm yet, they added. A representative of Peloton Interactive refrained from commenting on the report today ci...
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China, which has long been the leader in clean technology manufacturing, saw its global investment share drop in 2023, from 85% to 75%, amid rising investments in the United States and Europe, particularly in the battery manufacturing sector. Shifts in global clean tech investmentAccording to a report by the International Energy Agency (IEA) released on May 6, investment in battery manufacturing in the US and Europe more than tripled last year. This surge is largely fuelled by major policy initiatives such as the US’ Inflation Reduction Act and the EU’s Net Zero Industry Act, which prioritize ...
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Luxury supercar maker Ferrari reported positive earnings for Q1 2024 today, proving that companies which cater to the rich and famous have had far less of the inflationary pressures of other brands. Encouraging sales from the12Cilindri and 12Cilindri Spider models, as well as a higher percentage of clients personalising their already bespoke vehicles, were great contributors according to Ferrari. “Revenues and profits recorded double-digit growth with stable deliveries. This was achieved through an even stronger product and country mix, as well as a greater contribution from personalisations. ...
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Nvidia Corp (NASDAQ: NVDA) is in the red at writing after Stanley Druckenmiller announced to have trimmed his stake in the chipmaker. Why did Druckenmiller cut his position in Nvidia stock?The billionaire investor lowered his exposure to the semiconductor behemoth as the stock has “had a hell of a run”. He was first introduced to $NVDA in the back half of 2022 – and “increased the position substantially” when OpenAI rolled out ChatGPT. The news arrives only days before Nvidia is scheduled to report its financial results for the first quarter. Consensus is for it to earn $5.14 a share – up many...
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SoFi Technologies Inc (NASDAQ: SOFI) was one of the most popular and anticipated IPOs of 2020. After making a debut above $10, the stock quickly rocketed to levels above $25. However, since then its journey has been turbulent. By the end of 2022, the stock crashed to sub $5 levels and since then has found it hard to cross $10. But, all this while insiders, especially CEO Anthony Noto have been accumulating the stock at these depressed levels. Insiders buying stock in their own company is generally good news for investors as it shows that those running the company have conviction about it doing...
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BP has reported a significant 40% drop in its first-quarter earnings, with profits falling to $2.7 billion, underperforming against analysts’ expectations due to lower energy prices and operational setbacks, including a U.S. refinery outage. Lagging behind amid industry challengesBP’s latest financial results mark it as the last of the leading Western oil giants to disclose its earnings for the first quarter. In contrast, Shell posted a robust net profit of $7.7 billion last week, benefiting from disruptions to Red Sea shipping and Russian refining that boosted oil trading activities. Meanwhil...
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BT Group’s (LON: BT.A) share price has been left in the dust by the FTSE 100 index this year. It has plunged by over 15% this year while the FTSE 100 has soared by over 8% to a record high of £8,310. It became one of the worst-performing companies in the index. Worse, it has plunged by over 41% from its highest level in June 2021. Growth concerns remainUK telecom companies are not doing well as concerns about their growth and profitability continue. Vodafone’s stock has also plunged by over 40% from its highest point in 2021. This performance is in contrast to other European telecom companies....
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