Manufacturing
Analysts at Wolfe Research just replaced Nvidia Corp (NASDAQ: NVDA) with Advanced Micro Devices Inc (NASDAQ: AMD) on their list of top stocks for 2024. Why is AMD a better pick than Nvidia stock?The “tactical shift”, the investment firm told clients in a research note today, is based on “the relative move in stock prices YTD”. AMD stock is down more than 20% versus its year-to-date high while $NVDA is up close to 100% at writing. Wolfe replaced Nvidia stock also because they no longer expect Jensen Huang to deliver an exceptional beat in Q1 on May 22nd. Consensus is for the semiconductor behem...
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Deere & Co (NYSE: DE) is trading down in premarket on Thursday even though it reported better-than-expected financial results for its second quarter. Why is Deere stock down on Thursday?The stock is being hit primarily because the agricultural equipment manufacturer trimmed its guidance for the future. $DE now forecasts its net income to print at about $7.0 billion. Analysts, in comparison, were at $7.5 billion instead. John C. May – the chief executive of Deere & Co said in a press release today: We’re proactively managing our production and inventory levels to adapt to demand changes and pos...
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Nio (NYSE: NIO) stock price has crashed hard this year as the electric vehicle industry has become a toxic wasteland. It has tumbled by over 41.2% this year and by over 92% from its highest level in 2021. Other Chinese EV companies like Li Auto and XPeng have also tumbled. Nio faces many challenges aheadNio’s stock price has crashed hard in the past few years as the industry has faced numerous challenges. The biggest issue, in my view, is that the EV industry is highly saturated with over 100 companies seeking to gain share. As a result, most firms, including Nio, have been forced to slash veh...
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Boeing (NYSE: BA) stock price has been toxic this year as the company moved from one crisis to another. It has crashed by over 32% this year, making it the worst-performing company in the Dow Jones Industrial Average. It has underperformed indices like the S&P 500 and Nasdaq 100. David Tepper has bought the dipBoeing has been a toxic wasteland as the company’s challenges continue. It has faced numerous issues and is now being sued by the Department of Justice. As a result, the company has continued to lose its market share against Airbus. The company has also slowed its production and is now b...
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Canoo (NASDAQ: GOEV) stock price remained under intense pressure this week after the company published encouraging and optimistic financial results. It was trading at $2.65 on Wednesday, where it has been stuck at in the past few weeks. It has plunged by over 55% this year and by 80% in the past 12 months. Canoo is optimistic but challenges remainCanoo, an upcoming electric vehiclecompany, published its financial results that revealed steep losses. Its net loss jumped to $100.7 million in the first quarter, a big increase from $90.7 million in the same period in 2023. On the positive side, its...
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Semiconductor stocks have been the front and centre of all financial debates as investors and analysts alike continue to focus on artificial intelligence this year. Having said that, here are the top 4 top-performing semiconductor stocks for quick returns. Nvidia Corp (NASDAQ: NVDA)Our list of best performing semiconductor stocks just had to begin with Nvidia as continues to be the top means of gaining exposure to rapid growth in artificial intelligence. Shares of the chipmaker have nearly doubled since the start of 2024 and it is broadly expected to extend the rally further moving forward. In...
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Nio Inc (NYSE: NIO) is pushing further to the upside in premarket on Wednesday after a JPMorgan analyst removed his bear rating from shares of the electric vehicles company. Nio stock receives an upgradeNick Lai expects battery as a service (BAAS) strategy of the EV firm to be a meaningful tailwind for its share price. He upgraded Nio stock this morning to “neutral” and said: By successfully lifting the take rate, NIO broadens its TAM and lowers entry price point for mass BEV segment of below RMB 300K for two important volume models – the ES6 and ET5 (accounting for 75% of sales in 2023. Nio I...
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Canoo Inc (NASDAQ: GOEV) is trading down in extended hours on Tuesday after reporting disappointing financial results for its first quarter. Canoo reiterates guidance for 2024Investors are concerned because the future guidance failed to impress as well. $GOEV continues to see its annual revenue coming in the range of $50 million and $100 million in 2024. Cash outflow, the electric vehicles company added, will be capped at $75 million per quarter. Tony Aquila – the chief executive of Canoo Inc said in a press release today: We continue to execute on our strategy of acquiring deeply discounted l...
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KOSS Corp (NASDAQ: KOSS) opened up more than 50% as the meme stock craze continued on Tuesday. Koss stock has more than doubled versus its YTD lowMeme stocks including $KOSS have been rallying ever since Keith Gill who goes by “Roaring Kitty” on X posted on the social media platform on Monday. His tweet was significant since it was the first one he’s made since inspiring the $GME short squeeze in 2021. Koss stock is now up well over 100% versus its year-to-date low even though it reported about a 40% increase in net loss for its third financial quarter last month. This is to say the recent ral...
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Intuitive Machines Inc (NASDAQ: LUNR) is down about 10% on Tuesday even though it reported better-than-expected revenue for its first financial quarter. Why is Intuitive Machines stock down on Tuesday?The stock is taking a beating primarily because the management failed to impress with its future guidance. $LUNR forecasts its revenue to fall between $200 million and $240 million in fiscal 2024. Analysts, in comparison, were at $268 million. Still, Steve Altemus – the chief executive of Intuitive Machines said in a press release today: We had an excellent start to the year, anchored by our succ...
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