tradingideas
Earlier today, Lowe’s Companies Inc. (NYSE:LOW) reported its Q1 2024 earnings, exceeding analysts’ expectations for both revenue and EPS. The company achieved a non-GAAP EPS of $3.67, which was $0.71 above the estimates. Revenue reached $21.4 billion, surpassing projections by $300 million despite a 4.3% year-over-year decline. Comparable sales for the quarter were down 4.1%, highlighting ongoing challenges in the DIY segment. However, gains in the Pro segment and online sales provided some offset. Importantly, Lowe’s reaffirmed its full-year outlook, anticipating total sales between $84 to $8...
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The YieldMax NVDA Option Income Strategy ETF (NVDY) has continued to underperform Nvidia (NASDAQ: NVDA) this year. Its total return – price and dividends – has risen to 63.20% this year while Nvidia has risen by over 91.40%. NVDY ETF has lagged behind Nvidia’s stockThe ETF, which has a distribution rate of 53.50% and over $490 million in assets, will be in the spotlight this week as Nvidia publishes its financial results. As I wrote on Monday, analysts believe that Nvidia’s business did well in the first quarter. The average estimate is that its revenue jumped by over 246% in Q1 to over $22.58...
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On Monday, May 20th, Morgan Stanley upgraded Micron Technology (NASDAQ:MU) to Equal-weight from Underweight and significantly raised its price target from $98 to $130. This move reflects the firm’s reassessment of Micron’s potential, particularly in the context of high bandwidth memory (HBM) and the broader AI memory market. Despite concerns about valuation based on long-term discounted cash flow (DCF) metrics, Morgan Stanley acknowledges that Micron’s involvement in AI and memory technology narratives has become increasingly significant. The firm’s analysts noted that while they still conside...
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Hims & Hers Health (NYSE: HIMS) stock price is doing well, helped by its strong growth and demand for its core products. It soared by over 30% this year and by more than 112% this year. It has also surged by over 37% in the past 12 months, giving it a market cap of $3.13 billion. Growth is gaining momentumHims & Hers Health’s business is doing well. Data released this month revealed that its total revenue soared by 46% in Q1 to over $278 million as its subscribers roared by 41% to 1.7 million. This performance makes it one of the fastest growing companies in the US. The company’s gross margin ...
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Shares of Tesla Inc. (NASDAQ:TSLA) are currently trading near $178, reflecting a significant dip from its all-time high of over $400. However, this price is a recovery from its January 2023 low of around $100. While Tesla’s stock performance has been a roller coaster over the past few years, recent earnings and news has made it even more volatile. On Monday, Indonesia’s coordinating minister of investment announced that Elon Musk is considering an offer to build an electric vehicle (EV) battery plant in Indonesia. This potential investment aligns with Indonesia’s strategic push to leverage its...
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Platinum price has been in a strong uptrend this year, joining other industrial metals like copper and zinc. It has also joined other precious metals like silver and gold, which have been in a strong bull run. It soared to a high of $1,095 on Monday, its highest level since March 11th. Platinum has also outperformed palladium, which has risen by just 20% from its lowest point in 2023. Demand and supply mismatchPlatinum has done well this year, helped by strong demand and slow supply growth. A recent report by the World Platinum Council showed that automotive demand for platinum surged to its h...
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SoundHound (NASDAQ: SOUN), Super Micro Computer (SMCI), and C3.ai (AI) stock prices will be in focus this week as Nvidia (NVDA) publishes its financial results on Wednesday. These results will provide more colour about the state of the AI demand globally. Most importantly, the numbers will come at a time when most AI stocks have plunged hard from their highest point this year. SoundHound AI’s stock has dropped by over 50% from its highest level in 2024. Similarly, SMCI, one of the hottest stocks of 2023, has crashed by over 27% while C3.ai has fallen by more than 30% from its highest level in ...
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Nikola (NASDAQ: NKLA) stock price continued slumping this month as concerns about its cash flow and overall demand. It has crashed by over 18% in the past 30 days and is hovering at its all-time low. It is down by over 99% from its al–time high. Demand risks remainNikola, a leader in the hydrogen trucks industry, has made a lot of progress as I wrote in my last article here. It has moved from R&D to full production and deliveries. In its most recent results, the company said that it had manufactured and sold 75 trucks. Nikola also noted that it was seeing strong demand from its customers. Howe...
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Keyword Studios (LON: KWS) share price has staged a strong recovery in the past few weeks. It jumped to 1,470p on Friday, its highest swing since March 13th. Its highest point was a 33% increase from its lowest level this year. Keyword Studios stock price will likely surge hard on Monday after reports emerged that EQT, a Swedish private equity company, is in talks to buy it for £2.2 billion. The company’s stock had a market cap of over $1.16 billion, meaning that EQT is paying a 70% premium. It is unclear whether Keyword will accept the deal since it had rejected an offer before. However, I be...
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Zoom Communications (NASDAQ: ZM) stock price has gone through a prolonged turbulence in the past few years. After surging to $588 during the pandemic, it has dropped to $64, bringing its market cap to $19 billion from a peak of $182 billion. Zoom Communications earnings aheadZoom, a company whose name became a verb, has fallen from grace as demand for virtual meetings faded and as competition from Cisco, Microsoft, and Google increased. As a result, its revenue growth and profits have stalled. Annual revenue rose to $4.5 billion in 2023 from $4.3 billion in 2022 after rising from $622 million ...
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