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United Technologies Corporation
Lloyds Banking Group plc
Invitation Homes Inc.
Cypress Semiconductor Corporation
The Stars Group Inc.
Mellanox Technologies, Ltd.
Dolby Laboratories, Inc.
Reinsurance Group of America, Incorporated
Allison Transmission Holdings, Inc.
Macquarie Infrastructure Corporation
Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.
Singapore’s currency looks set to remain under pressure as global headwinds outweigh the benefits of more businesses reopening on June 2.
Mexican auto industry groups on Sunday urged the governor of the state of Puebla to allow a gradual restart of operations after economic activity was curbed to contain the spread of the novel coronavirus. Puebla, where Volkswagen and its luxury brand unit Audi have major plants, said on Friday conditions "do not exist" yet for the auto industry to restart activity, while carmakers with plants in other states have signalled they are being allowed to reopen. Mexico has 68,620 confirmed coronavirus infections, 2,082 of which were registered in Puebla.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
The blockbuster merger that created it was designed to stabilize the business against cyclical downturns -- though nobody was expecting one like this.
NVIDIA (NASDAQ: NVDA) reported robust fiscal first-quarter 2021 results after the market close on Thursday, May 21. The graphics processing unit (GPU) specialist's revenue jumped 39% year over year to $3.
NVIDIA Corporation (NASDAQ: NVDA) reported strong fiscal year 2021 first-quarter results Thursday after the close, sending the chipmaker's stock higher Friday. The Nvidia Analysts UBS Securities analyst Timothy Arcuri maintained a Buy rating on Nvidia shares and raised the price target from $330 to $400.BofA Securities analyst Vivek Arya reiterated a Buy rating and increased the price target from $360 to $420.Oppenheimer analyst Rick Schafer reiterated an Outperform rating and lifted the price target from $350 to $400.Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating and increased the price target from $295 to $400.Wedbush analyst Matthew Bryson maintained an Outperform rating and raised the price target from $340 to $420.Raymond James analyst Chris Caso reiterated a Buy rating and moved up the price target from $330 to $370.RBC Capital Markets analyst Mitch Steves maintained an Outperform rating and $385 price target.Rosenblatt Securities analyst Hans Mosesmann maintained a Buy rating and lifted the price target from $340 to $400.Needham analyst Rajvindra Gill maintained a Buy rating and increased the price target from $360 to $400.Nvidia Is a Franchise Holding, UBS Says Nvidia's report delivered solid guidance and framed the new 7nm product cycle against the transformational longer-term opportunity around Mellanox, Arcuri said in a Friday note.The Ampere GPU brings the biggest generational leap in computational horsepower in Nvidia's history, blurring the lines between its training and inference opportunities, the analyst said. UBS still sees Nvidia as a franchise holding, with some headroom as the transformational aspects of Mellanox and the Ampere product cycles take hold.BofAOn Why Nvidia Is Its Top Sector Pick Nvidia's multi-cylinder growth in the wake of EPS growth potential in cloud/AI/networking/5G, synergistic Mellanox/Cumulus acquisitions, disruptive Ampere-based pipeline and best-in-class execution makes it a top sector pick for BofA, Arya said in a Thursday note. The analyst noted that first-quarter sales climbed 39% year-over-year to $3.08 billion, ahead of the consensus, and the second-quarter organic implied sales outlook of $3.15 billion is toward the high end of the consensus.Arya expects year-over-year data center sales growth to accelerate from 80% in the first quarter to 90% in the second quarter as the mix changes to Ampere.BofA also highlighted the company's stellar gross margin execution, which came in at a record 66% despite the start of the transition to new Ampere GPU architecture.See also: Here's How Long It Took Nvidia To Reach A 0B Market Cap Nvidia's Growth, Margin Story Remains, Oppenheimer Says The data center growth was led by growing adoption of AI accelerators for training/inference with T4 (inference) doubling year-over-year, Schafer said in a Friday note. View more earnings on NVDAThe analyst sees COVID-19 as a continuing drag, particularly for Auto and Pro Visualization. The second quarter is likely to be the trough for autos, he said. The Ampere GPU bolsters Nvidia's AI lead, while the Mellanox acquisition expands its data center footprint, Schafer said. "We expect management to introduce Ampere for GeForce in 2H, furthering leadership in high-performance gaming." Oppenheimer sees the growth/margin story as continuing. Nvidia Well-Positioned For Calendar 2020 and Beyond, Mizuho Says The April quarter top-line was driven by strong data center and gaming, which was up 27%, Rakesh said in a Friday note.Nvidia sees continued data center and gaming strength in the second quarter, with a new hybrid training and inferencing platform with Ampere A100 GPU ramping combined with the Mellanox contribution, the analyst said. Mizuho is of the view that continued strong gaming and AI leadership in data center positions NVDA well for 2020 and beyond.Nvidia To Enjoy Outpaced Growth For Foreseeable Future, Wedbush Says Wedbush said a combination of leadership in both AI and gaming silicon will allow Nvidia to enjoy outpaced growth for the foreseeable future, particularly with Ampere positioned to potentially accelerate data center growth by allowing the company to penetrate new markets such as Big Data Analytics and Edge AI, Bryson said in a Friday note. The analyst noted that data center achieved the quarterly run rate of $1 billion, thanks to strong 80% growth, and gaming revenues came in-line. As negatives, he highlighted the higher-than-expected interest expense and the worse-than-expected 40% decline the company forecast.RayJay Favors Nvidia In A Post-COVID World Despite the COVID-19 impact, Nvidia posted strong results and guidance, as gaming proved resilient and the new Ampere product contributed solidly to the data center segment, Caso said in a Thursday note. The analyst said he has high conviction in the strength of NVIDIA's product cycles -- data center followed by gaming in the second half."And those product cycles are more resistant to macro conditions than most anything else in our space, which is why we have and continue to favor the stock in a post-Covid world." Margin Expansion Opportunity Justifies Nvidia's Multiple, RBC Says While the quarter was strong, the guidance was a tad light when adjusted for Mellanox, Steves said in a Thursday note.The analyst presented investor feedback on the results, with some investors suggesting they anticipated better quarter-over-quarter data center growth guidance.Gaming will likely have further upside if work-from-home continues and gross and operating margins have not peaked, helping justify the current multiple, the analyst said, citing investors.Rosenblatt Recommends Nvidia As Accelerated Computing Pure Play Nvidia easily sidestepped COVID-19-related disruption in gaming and is delivering a strong ramp of the new 7nm-based Ampere A100 in data center, which was reflected in the first-quarter beat and the strong second-quarter guidance, Mosesmann said in a Friday note. "We recommend NVDA as a pure-play in accelerated computing that is in the early stages of evolution as AI-based applications broaden from the cloud to the edge and beyond," the analyst said. Needham Bullish On Nvidia As Nvidia further integrates Mellanox, its positioning with enterprise data center customers will improve, as it will be able to provide a complete cloud offering consisting of HPC and networking hardware and software, Gill said in a Friday note. The analyst said he remains bullish on NVDA's positioning in data center, both in training and inference, coupled with its continued dominance in gaming.NVDA Price Action At last check, Nvidia shares were adding 2.24% to $358.88 and have gained about 50% year-to-date. Related Link: Nvidia Analyst Says New, Ampere-Based Data Center GPU Makes Chipmaker 'Unassailable'Photo courtesy of Nvidia. Latest Ratings for NVDA DateFirmActionFromTo May 2020CascendMaintainsBuy May 2020Piper SandlerMaintainsOverweight May 2020UBSMaintainsBuy View More Analyst Ratings for NVDA View the Latest Analyst Ratings See more from Benzinga * Here's How Long It Took Nvidia To Reach A 0B Market Cap * Nvidia Investors Accuse Chipmaker Of Misrepresenting B In Crypto Revenue In Lawsuit * BMO Turns Bullish On Nvidia, Says It's Uniquely Positioned For Computing Shift(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The market appears to be undervaluing the prospect of an earnings recovery at PPG and Raytheon Technologies.
Nvidia expects operating costs to rise to $4.1 billion as it absorbs last year's Mellanox acquisition, with some analysts trimming earnings 2020 earnings forecasts as a result.
Escalating rhetoric from President Donald Trump hit Wall Street yesterday, but Asian markets today are red all over following China's proposal for a new Hong Kong law to ban sedition, secession and treason. The Hang Seng index plunged 5% at one point and the Hong Kong dollar slid the most in six weeks. World stocks are down around 0.7%, but that may pick up steam as a pan-European index is down 1.5% and Wall Street is expected to open weaker.
NVDA earnings call for the period ending April 26, 2020.
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production. GM Mexico said the assembly plants at Ramos Arizpe in the northern state of Coahuila, and Silao in the central state of Guanajuato, could restart operations on Friday depending on suppliers, and that it was assessing when to reopen plants in the central state of San Luis Potosi, and in Toluca, near Mexico City. The steps to restart production are welcome news for the North American auto sector, with supply lines highly interconnected among the United States, Mexico and Canada.
Moody's Investors Service (Moody's) has today affirmed the Baa3 issuer and senior unsecured ratings of EP Infrastructure a.s. (EPIF), a Prague-based holding company with participations in various energy infrastructure companies. A full list of affected ratings is provided towards the end of this press release.
Keep an eye on disclosures regarding server and gaming GPU demand, as well as any comments shared about Mellanox's performance, when Nvidia reports on Thursday.
DOW UPDATE The Dow Jones Industrial Average is trading up Thursday morning with shares of Boeing and Travelers delivering the strongest returns for the blue-chip average. Shares of Boeing (BA) and Travelers (TRV) have contributed around a third of the index's intraday rally, as the Dow (DJIA) is trading 65 points, or 0.
RBC analyst Michael Eisen launched coverage of several aerospace and defense stocks on Wednesday, including Boeing. He gave shares the equivalent of a Buy rating, making him a bit of a rarity on Wall Street, where there aren’t that many Boeing bulls left.
When a payroll glitch left Natalie Gallagher so short of cash this month she couldn't afford her bus fare to work, she turned to her usual lender Amigo for an emergency top-up loan. Like many of the lenders that thousands of higher-risk borrowers in Britain depend on, Amigo had tightened its criteria for handing out cash in the wake of the coronavirus. "Amigo was my only real option."
The contract to supply 608 new engines for the entire 76-aircraft B-52 fleet could be worth up to $7 billion. GE stock rose.
AbbVie, Interactive, Inphi, Chegg and ServiceNow highlighted as Zacks Bull and Bear of the Day