EV stocks had another down week amid the broader market rout, triggered by macroeconomic uncertainties. EV leader Tesla, Inc.’s earnings report did little to salvage the somber market mood. Here are the key events that happened in the EV space during the week: Tesla Earnings Disappointment, White House Snub & More Expectations were running high…
Tesla Raises Concern Over Future Growth, Lucid Going Places, GM Aims EV Leadership and More
DA Davidson Turns Bullish On This Payment Network
DA Davidson analyst Christopher Brendler upgraded Affirm Holdings Inc. shares to Buy from Neutral with a price target of $75, down from $110, suggesting an upside of 29 percent. The analyst contends that the selloff in the stock is “overdone.” Brendler is bullish heading into the company’s results, with industry data suggesting that the U.S. buy-now-pay-later usage has more…
Analysts Cut Western Digital Price Target Post Q2 Results
Analysts on Western Digital Corp. following Q2 FY22 results. Deutsche Bank analyst Sidney Ho lowered the price target to $70 from $81 (40 percent upside) and kept a Buy. The company’s guidance was once again below Street estimates, but it remains positioned for a second-half recovery. The analyst believes the stock’s risk/reward is attractive. Citi analyst Jim Suva reduced the…
Apple Stock Bounces Off Key Level, Rallies Higher: What’s Next?
Apple Inc. shares are trading higher Friday after the company announced better-than-expected fiscal first-quarter financial results. Apple reported quarterly earnings of $2.10 per share, beating the $1.88 estimate. The company reported quarterly revenue of $123.9 billion, beating the estimate of $118.28 billion. Apple was up 5.75 percent at $168.38 midday Friday. Apple Daily Chart Analysis Shares…
Analysts Lift Seagate Price Target Post Q2 Earnings
Analysts raised their price targets on Seagate Technology Holdings PLC following its Q2 beat and Q3 outlook. Citi analyst Jim Suva raised the price target on Seagate to $105 from $100 and reiterated a Neutral rating on the shares. Seagate continues to create and store value for its shareholders with a 1 percent beat on sales and a 2 percent…
Comcast Tops Q4 Consensus; Hikes Share Buyback to $10 Billion; Raises Dividend by 8 Percent
Comcast Corp. reported fourth-quarter FY21 revenue growth of 9.5 percent year-on-year to $30.34 billion, beating the consensus of $29.74 billion. Segments Revenue for Cable Communications rose 4.5 percent Y/Y to $16.4 billion, driven by increases in broadband, wireless, business services partially offset by decreases in advertising, video, and voice revenue. Customer Relationships increased by 169,000 to…
Stock Wars: Lyft vs. Uber
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between a pair of ride-hailing services: Lyft Inc. and Uber Technologies Inc.. The Case for Lyft This company began in 2012 as an app for Zimride, a…
Stocks Shed Gains, Treasuries Jump as Fed Signals Rate Hikes Could Come ‘Soon’
WASHINGTON—U.S. stocks retreated Wednesday, erasing strong gains, after the Federal Reserve signaled an interest rate hike could be coming soon, while supply concerns stemming from tension between Russia and Ukraine saw oil prices touch highs not seen since 2014. Wall Street ended the day in mixed territory after spending most of the day up roughly…
AT&T Tops Q4 Consensus Backed by Wireless, Fiber, HBO Max
AT&T Inc. reported fourth-quarter operating revenues of $40.96 billion, down 10.4 percent year-over-year, beating the consensus of $40.43 billion. WarnerMedia revenue growth partially offset the Business Wireline revenue decline. The results reflect continuing customer growth in wireless, fiber, and HBO Max. Adjusted EPS of $0.78 beat the consensus of $0.76. In the Mobility segment, AT&T clocked…
If You Invested $1,000 in General Electric Stock One Year Ago, Here’s How Much You’d Have Now
Investors who have owned stocks in the past year have generally experienced some big gains. But there is no question some big-name stocks performed better than others along the way. GE’s Bumpy Ride One company that has been a disappointing investment in the past year has been industrial giant General Electric Company. GE has been one…
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