Carvana Climbs Nearly 40% on Impressive Earnings & Outlook: Still Not Time to Buy CVNA Yet, Though
For the second consecutive quarter Carvana (CVNA) has delivered an impressive earnings beat coupled with an optimistic outlook for the upcoming quarter, sending shares nearly 40% higher Thursday morning. The online car retailer easily delivered an earnings beat for the first quarter of 2024. Revenue of $3.06 billion was a 17% improvement year over year and blew the $2.67 [...]
AMD Drops on Disappointing Guidance Despite Q1 Earnings Beat: Why it May Be Time to Sell the Stock
Advanced Micro Devices (AMD) reported its first-quarter earnings yesterday, which narrowly outperformed the analyst consensus. This lackluster performance coupled with a disappointing guidance has sent shares down more than 9%. The chip maker posted earnings per share of 62 cents compared to the estimate of 61 cents. Revenue came in at $5.47 billion compared to the $5.46 billion analysts [...]
Tesla Finally Gains Approval for Full Self-Driving in China, But Is This Enough to Earn the Stock a Buy?
Tesla (TSLA) was climbing higher yesterday after its best week in a while as Elon Musk shared a pleasant surprise update with investors. He visited China to meet with Li Qiang and gained approval to move forward with its Full Self-Driving (FSD) software for the country’s electric vehicles. Musk also gained the go-ahead to transfer data overseas. This is [...]
Royal Philips Pops Nearly 30% on Better Than Expected Settlement & Earnings: Time to Buy PHG?
Over the past few years, Royal Philips (PHG) has been battered and bruised amidst concerns surrounding its devices being recalled and the implications of a settlement. The uncertainty has led to the stock getting cut nearly in half since 2021 when these issues were first noted. Its breathing devices and ventilators were created with a foam that could degrade [...]
Tech Earnings Fuel Market Surge: A Week in Review
Anticipation surrounding the upcoming big tech earnings releases fueled a positive start on Wall Street. The Dow improved by 0.7%, the S&P500 added 0.9%, and the Nasdaq surged 1.1% on Monday. Tuesday saw a continuation of the bullish sentiment, driven by impressive earnings beats from GM, Pepsi, and Spotify, along with optimistic forward outlooks. The Dow climbed 0.7%, the [...]
Alphabet Surpasses a $2T Market Cap Amidst AI Growth: We See 3 Other Reasons to Buy GOOGL
It’s no secret that Nvidia has been the AI poster child and Wall Street darling amidst this technology craze, delivering more than 220% growth in the past year and earning a market capitalization of $2.17 trillion. However, the Google parent company Alphabet (GOOGL) is not far behind, and actually appears poised to overtake the chip maker given its latest [...]