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ThredUp and Madewell partner for Brooklyn secondhand store

ThredUp Inc. said Thursday that it has partnered with clothing and accessories brand Madewell for A Circular Store, a secondhand shop in Brooklyn that sells previously owned Madewell items. The store will be open for a limited time, and is a bricks-and-mortar extension of the Madewell Forever e-commerce site that launched in July. Items are priced from $10 to $40. "We've designed a store to represent the future of fashion -- a circular future in which retailers design for longevity, and consumers shop with resale in mind," said Erin Wallace, vice president of integrated marketing at ThredUp, in a statement. ThredUp's stock, which went public in March, has slumped 22% over the past three months, while the S&P 500 index has gained 5% over that period. Also see: A.K.A. Brands shares slump in trading debut as company highlights risk that eco-conscious Gen Z shoppers will reject its fast-fashion business modelMarket Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch25 min. ago Related News

Rao"s, Noosa parent Sovos Brands soars 21% as trading begins

Sovos Brands Inc. , parent company to pasta sauce brand Rao's and yogurt brand Noosa, soared 20.8% as trading began on Thursday. Shares priced at $12 per share, below the expected range of $14 to $16. The company sold 23.33 million shares in the IPO to raise $280.0 million. The IPO pricing valued the company at about $1.17 billion. The stock is trading on the Nasdaq under the ticker "SOVO." The company joins a number of others including Remitly Global Inc. and EngageSmart Inc. that began trading on Thursday alone. The Renaissance IPO ETF has gained 8.1% for the year to date while the S&P 500 index is up 18.6% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch25 min. ago Related News

Brilliant Earth skyrockets 27% in trading debut

Jewelry seller Brilliant Earth Group Inc. made its trading debut on Thursday, skyrocketing 27.3% out of the gate. The company halved its IPO offering to 8.33 million shares in the IPO, and priced at $12, below the expected range of between $14 and $16 per share. Brilliant Earth is trading on the Nasdaq under the ticker "BRLT." It joins a number of companies, including Remitly Global Inc. , Sovos Brands Inc. , and EngageSmart Inc. that began trading on Thursday. There were 14 IPO deals planned for this week. The Renaissance IPO ETF has gained 8.2% for the year to date while the S&P 500 index is up 18.6% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch25 min. ago Related News

BB Stock News: 9 Reasons Why Blackberry Is the No. 1 Trending Ticker Today

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Blackberry (BB) stock is surging higher on Thursday to become the top trending ticker thanks to the company's most recent earnings report. The post BB Stock News: 9 Reasons Why Blackberry Is the No. 1 Trending Ticker Today appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom America’s #1 EV Stock Still Flying Under the Radar.....»»

Category: topSource: investorplace57 min. ago Related News

Preferred Apartment (APTS) Buys The Kingson, Shares Up 3.1%

The latest acquisition will enhance Preferred Apartment Communities' (APTS) portfolio with suburban properties and supports its business-simplifying efforts. Preferred Apartment Communities, Inc. APTS announced the completion of the acquisition of Fredericksburg, VA-based The Kingson on Sep 16. The buyout of this 240-unit Class A multi-family community comes as part of the company’s effort to boost its portfolio with sub-urban properties.Reflecting positive market sentiments, shares of Preferred Apartment gained 3.1% during Wednesday trading session.Fredericksburg is a historic and growing suburb of Washington. The suburban markets have been stable, with strong fundamentals, and witnessed solid renter demand and increasing rents. This reflects that the location is apt for Preferred Apartment to grow via acquisitions.The acquisition seems a strategic fit as The Kingson is situated at a convenient distance to the 133-bed regional hospital and the Virginia Railway Express Station. The property enjoys rapid lease up and is well poised to benefit from its nearby quality grocery and retail operators like Publix, Target TGT and Starbucks SBUX. Hence, the acquired property is likely to witness a high demand.Per John A. Isakson, chief financial officer of Preferred Apartment Communities, “Our real estate loan investment program continues to produce accretive returns, as well as a productive pipeline of excellent assets for our portfolio.”The buyout of this Virginia property fortifies the company’s strategy of simplifying its platform by rotating capital from the non-core investments into its core multi-family business.Earlier this month, Preferred Apartment completed the acquisition of The Anson in Nashville, TN MSA. The purchase of the newly-constructed 301-Unit Class A multi-family community resulted from the real estate loan investment, which the company originated in May 2018 to support the development of the property.Shares of this Zacks Rank #1 (Strong Buy) company have gained 25.3% in the past six months, outperforming the industry’s 23.8% rally.Another Key PickThe Zacks Consensus Estimate for BRT Apartments Corp.’s BRT ongoing-year FFO per share has moved 17% north over the past month. The company sports a Zacks Rank of 1, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis Report Starbucks Corporation (SBUX): Free Stock Analysis Report BRT Apartments Corp. (BRT): Free Stock Analysis Report Preferred Apartment Communities, Inc. (APTS): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks57 min. ago Related News

What"s in the Offing for Micron Technology"s (MU) Q4 Earnings?

Micron's (MU) Q4 results likely to reflect benefits from significant memory chip demand from data-center operators and PC manufacturers amid the pandemic-induced work-and-learn-from-home wave. Micron Technology MU is scheduled to report fourth-quarter fiscal 2021 results on Sep 28.The company projects fiscal fourth-quarter adjusted earnings to be $2.30 (+/- 10 cents) per share. The Zacks Consensus Estimate for the quarterly earnings is pinned at $2.31 per share, having been revised upward by 16 cents over the past 90 days. The consensus mark indicates a 113.9% surge from the year-ago quarter.Meanwhile, Micron estimates revenues to be $8.2 billion (+/- $200 million). The consensus mark for revenues is currently pegged at $8.19 billion, suggesting a 35.3% increase from the year-earlier period.The company’s earnings surpassed the Zacks Consensus Estimate in all of the trailing four quarters, the average surprise being 7.7%.Let’s see how things have shaped up prior to this announcement.Micron Technology, Inc. Price and EPS Surprise Micron Technology, Inc. price-eps-surprise | Micron Technology, Inc. QuoteFactors to ConsiderThe stay-at-home situation has spurred significant chip demand from PC manufacturers and data-center operators, which is anticipated to have driven Micron’s fiscal fourth-quarter earnings. The global quarantine situation has fueled significant demand for PCs and notebooks, with the surge in workers and students working and learning from homes.The remote-working and online-learning trend amid the coronavirus crisis has also stoked demand for cloud storage. Furthermore, lockdowns have fueled the usage of online and e-commerce services globally, compelling data-center operators to enhance their capacities in order to accommodate the demand spike for cloud services. All these factors are likely to have aided Micron’s top line during the quarter under review.A solid uptick in the DRAM bit shipments for the cloud, graphics, PC and notebook, 5G and automotive markets is anticipated to have been a positive during the quarter to be reported.Nonetheless, Micron’s heavy dependence on China is a headwind due to the ongoing tit-for-tat trade spat between the United States and China. Restrictions on exports to Huawei might have hurt top-line growth of the memory chip maker.Additionally, a higher mix of lower-margin NAND, coupled with low memory prices and minimal decline in manufacturing costs, is expected to have strained margins.Furthermore, higher prequalification and labor expenses are likely to have negatively impacted Micron’s fourth-quarter bottom-line performance. During the fiscal second-quarter conference call, the company noted that it expects a rise in operating expenses during the second half of fiscal 2021 due to the higher prequalification and labor expenses.Moreover, operating expenses are expected to have flared up during the fiscal fourth quarter due to the resumption of the previously-delayed fiscal 2021 salary hikes in the fiscal third quarter. This might have hurt the company’s margins and profitability during the quarter under review.What Our Model SaysOur proven model does not conclusively predict an earnings beat for Micron this season. The combination of a positive Earnings ESP, and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the chances of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.Micron currently carries a Zacks Rank of 4 (Sell) and has an Earnings ESP of 0.00%.Stocks With Favorable CombinationsHere are some companies, which, per our model, have the right combination of elements to post earnings beats in their upcoming releases:Alcoa AA has an Earnings ESP of +33.55% and sports a Zacks Rank #1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.McCormick & Company MKC has an Earnings ESP of +0.28% and currently carries a Zacks Rank of 3.CarMax KMX has an Earnings ESP of +0.18% and holds a Zacks Rank of 3, currently. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alcoa Corp. (AA): Free Stock Analysis Report Micron Technology, Inc. (MU): Free Stock Analysis Report CarMax, Inc. (KMX): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Here"s What Makes Chemours (CC) Stock A Solid Bet Right Now

Chemours (CC) benefits from demand revival across all markets, strong execution and its cost-reduction actions. The Chemours Company CC is benefiting from higher demand for Opteon in mobile applications, strong execution and cost-cutting measures. We are positive on the company’s prospects and believe that the time is right for you to add the stock to the portfolio as it looks promising and is poised to carry the momentum ahead.Chemours currently carries a Zacks Rank #1 (Strong Buy) and a VGM Score of A. Our research shows that stocks with a VGM Score of A or B, combined with a Zacks Rank #1 or 2 (Buy), offer the best investment opportunities for investors.Let's see what makes this chemical maker a compelling investment option at the moment.Price PerformanceShares of Chemours have rallied 36.6% over a year compared with the 20.7% rise of its industry. It has also outperformed the S&P 500’s 31.3% rise over the same period. Image Source: Zacks Investment Research Estimates Moving UpOver the past two months, the Zacks Consensus Estimate for Chemours for the current year has increased around 11.5%. The consensus estimate for third-quarter 2021 has also been revised 9% upward over the same time frame. The favorable estimate revisions instill investor confidence in the stock.Positive Earnings Surprise HistoryChemours has outpaced the Zacks Consensus Estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of 38.9%, on average.Solid Growth ProspectsThe Zacks Consensus Estimate for earnings for 2021 for Chemours is currently pegged at $3.69, reflecting an expected year-over-year growth of 86.4%. Moreover, earnings are expected to register 106.4% growth in third-quarter 2021.Attractive ValuationValuation looks attractive as Chemours’ shares are currently trading at a level that is lower than the industry average, suggesting that the stock still has upside potential.Going by the EV/EBITDA (Enterprise Value/ Earnings before Interest, Tax, Depreciation and Amortization) multiple, which is often used to value chemical stocks, Chemours is currently trading at trailing 12-month EV/EBITDA multiple of 7.67, cheaper compared with the industry average of 9.89.Upbeat ProspectsChemours is gaining from a rebound in demand from the pandemic-led lows, strong execution and its cost-reduction actions. The company is seeing demand revival across all markets and regions on the global macroeconomic recovery.The company is witnessing increasing adoption of the Opteon platform. Demand for Opteon remains strong in mobile and stationary applications. Chemours remains committed toward driving Opteon adoption. It is ramping up production at the new low-cost Opteon Corpus Christi facility.Chemours should also gain from its efforts to reduce costs. It is undertaking actions to cut costs by reducing overhead, discretionary spend and capital expenditures. The company’s cost-reduction program along with its productivity and operational improvement actions across its businesses are expected to support margins in 2021.The company also remains focused on boosting its cash flows and returning value to shareholders. It generated strong free cash flow of $189 million in the second quarter. Chemours expects to generate free cash flow of more than $450 million in 2021 and return the majority of this to its shareholders through dividend and share repurchases. The Chemours Company Price and Consensus  The Chemours Company price-consensus-chart | The Chemours Company QuoteStocks to ConsiderOther top-ranked stocks worth considering in the basic materials space include The Mosaic Company MOS, United States Steel Corporation X and AdvanSix Inc. ASIX, each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Mosaic has an expected earnings growth rate of 471.8% for the current year. The stock has also rallied around 76% over a year.U.S. Steel has a projected earnings growth rate of 368.9% for the current year. The company’s shares have shot up around 204% in a year.AdvanSix has a projected earnings growth rate of 160.4% for the current year. The company’s shares have surged around 204% in a year. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Steel Corporation (X): Free Stock Analysis Report The Mosaic Company (MOS): Free Stock Analysis Report The Chemours Company (CC): Free Stock Analysis Report AdvanSix Inc. (ASIX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

5 Stocks to Watch Amid Surging Demand for Digital Payments

Watch out for stocks like Apple (AAPL), Usio (USIO), EVERTEC (EVTC), Visa (V) and Alphabet (GOOGL) amid continued demand for digital payment as a safe and convenient way of transacting. As the pandemic halted in-store shopping, people resorted to shopping online and preferred digital or contactless payments as a safer method for transacting. Safety has become a priority among consumers around the world and businesses have been adopting contactless payment methods to meet the growing demand. Per the Back to Business Study report by Visa Inc. V, 48% of consumers said that they wouldn’t shop at a store unless it offered some form of contactless payment, as mentioned in a Vending Market Watch article.In fact, a survey conducted by the National Retail Federation and Forrester in the United States last year found that 67% of the retailers surveyed were accepting some form of contactless payment. This included 58% of retailers that accept contactless cards that can be waved past or tapped on card readers compared to 40% in 2019, while 56% reported taking digital wallet payments on mobile phones, rising from 44% in 2019.Apart from being contactless, digital payments offer other benefits which can ensure that their demand continues to accelerate even beyond the pandemic. Digital payments provide faster and hassle-free transactions. Consumers don’t have to carry cash with them and can also complete transactions via their smartphones. Merchants and financial institutions too offer certain discounts upon purchases as well as other offers, making it even more exciting for consumers. It also helps consumers to easily keep track of how much they are spending and where, as the details of the transactions are readily available.Several forms of digital payments are available and while credit and debit cards have been popular choices, other methods like quick response (“QR”) code scanning are gaining traction. This is because consumers simply have to scan the merchant’s QR code to initiate the payment process, making it even more convenient. In fact, per a Juniper Research report, the number of QR code payments users is expected to exceed 2.2 billion in 2025, from 1.5 billion in 2020, and amount to 29% of mobile users worldwide.Reflective of the positive developments that digital payments have been witnessing, the digital payments market is expected to grow. Per a report by ReportLinker, the digital payments market is expected to witness a CAGR of 13.7% from 2021 to 2026, as mentioned in a GlobeNewswire article.5 Stocks to WatchThe popularity of digital payments is set to accelerate further, thanks to the myriad conveniences they offer. This seems then a good time to look at companies offering digital payment solutions that stand to benefit from this potential. We have selected five such stocks that carry a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.Apple Inc. AAPL offers Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service. On Aug 19, the company announced that Apple Card, which is the only card issued by Goldman Sachs, ranked highest among the Midsize Credit Card segment in the J.D. Power 2021 U.S. Credit Card Satisfaction Study.Shares of Apple have risen 9.9% year to date and it currently flaunts a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings increased 7.7% over the past 60 days. The company’s expected earnings growth rate for the current year is 70.4%.Usio, Inc. USIO, together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The company offers various types of automated clearing house processing; and credit, prepaid card, and debit card-based processing services.Shares of Zacks Rank #2 Usio have risen 125.1% year to date. The Zacks Consensus Estimate for its current-year earnings improved 55.6% over the past 60 days. The company’s expected earnings growth rate for the current year is 82.6%.EVERTEC, Inc. EVTC provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer cards.Shares of EVERTEC have risen 17.1% year to date. The Zacks Consensus Estimate for its current-year earnings increased 13.8% over the past 60 days. This Zacks Rank #2 company’s expected earnings growth rate for the current year is 27.5%.Visa facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. On Apr 7, the company announced that it had processed one billion additional touch-free payments in Europe, within less than a year since contactless payment limits were increased across 29 countries in Europe due to the pandemic.Shares of Visa have gained 7.1% over the past six months and it currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 3.4% over the past 60 days. The company’s expected earnings growth rate for the current year is 15.5%.Alphabet Inc.’s GOOGL Google offers Google Pay, a digital payment app where users can send or receive money with ease. The app also supports QR code scan payments.Shares of this Zacks Rank #3 company have risen 60.1% year to date. The Zacks Consensus Estimate for its current-year earnings increased 13.3% over the past 60 days. The company’s expected earnings growth rate for the current year is 73.8%. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Visa Inc. (V): Free Stock Analysis Report Evertec, Inc. (EVTC): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Usio Inc (USIO): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks57 min. ago Related News

Fed Gives Bond-Buy Tapering Signal Without Timeline: 5 Picks

We have narrowed down our search to five U.S. corporate behemoths that have strong growth potential for the rest of 2021. These are: AAPL, MSFT, NVDA, DHR and COST. On Sep 22, Wall Street closed sharply higher ending its 4-day losing streak and recouped some of the losses it has suffered in September. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — rallied 1% each, while the small-cap-centric Russell 2000 surged 1.5%.U.S. stock markets rebounded following Fed Chairman Jerome Powell’s confirmation that a shift from the central bank’s ultra-dovish monetary policy is not immediate. The Fed will maintain its monetary stimulus and stick to a near-zero short-term benchmark interest rate at least for the time being.Powell Maintains Dovish StanceIn his statement after the conclusion of the two-day FOMC meeting, Fed Chairman Jerome Powell said “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.”Fed Chairman made the point that it is “more important to do it right than fast.” “While no decisions were made, participants generally viewed that so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate,” he said.Powell said that the central bank’s further progress test has been met regarding its inflation target. He added “My own view is the test for substantial further progress on employment is all but met.” However, Powell made it clear “For me it wouldn’t take a knockout, great, super strong employment report. It would take a reasonably good employment report for me to feel like that test is met.”Fed’s latest dot plot for rate projection is showing nine out of18 members believing that the first rate cut will come in the second half of 2022. This number was just seven after June’s FOMC meeting. However, Powell had commented in June that dot plots should be taken with a “big grain of salt.” It is “not a great forecaster of future rate moves." Fed's policy will be guided by the actual outcome of economic variables and not by its officials' expectations about the future.Tapering Likely Priced in Market ValuationThe Fed Chairman has said repeatedly that the central bank will give enough indication to market participants before it actually starts tapering in order to minimize volatility.Although the Fed has restrained from providing any timeline as to when the tapering of the monthly $120 billion bond-buy program will start, many economists and financial researchers believe that the announcement will come in the next FOMC meeting in November and the process will start from December.Despite this, yesterday’s rally indicates that the impact of tapering seems already factored in market valuations. The central bank had taken this extraordinary measure last year to tackle an extraordinary health hazard-led economic devastation. Everyone knows that this monetary stimulus will fade out gradually with the pace of U.S. economic recovery.Therefore, a possible tapering of the Fed’s monthly $80 billion Treasury Notes and $40 billion mortgage-backed bond-buying program this year may not shake market participants’ confidence. The important point is that the Fed has taken an extremely cautious approach to tapering its quantitative easing program.Stock Selection CriteriaAt this stage, it will be prudent to invest in stocks of U.S. corporate behemoths (market capital > $100 billion) that have performed better than the market’s benchmark — the S&P 500 Index — in the past month, amid September’s volatility.The stocks must carry a favorable Zacks Rank. These companies have highly established business models spread across the world, lucrative product pipelines, globally acclaimed brand recognition and robust financial positions, which will help them to cope with a higher interest rate.Accordingly, we have narrowed down our search to five U.S. corporate behemoths that have strong growth potential for the rest of 2021. These stocks have seen positive earnings estimate revisions in the last 60 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The chart below shows the price performance of our five picks in the past month.Image Source: Zacks Investment ResearchApple Inc.'s AAPL Services and Wearables businesses are expected to drive top-line growth in fiscal 2021 and beyond. Although Apple’s business primarily runs around its flagship iPhone, the Services portfolio has emerged as the company’s new cash cow. Its focus on autonomous vehicles and augmented reality/virtual reality technologies presents growth opportunities in the long haul.This Zacks Rank #1 company has an expected earnings growth rate of 2.2% for next year (ending September 2022) after estimated 70.4% growth in the current year (ending September 2021). The Zacks Consensus Estimate for next year improved 6.3% over the last 60 days.Microsoft Corp. MSFT is introducing new and improved Surface devices that could encourage enterprises to stick with Windows as they move toward BYOD and cloud computing. Microsoft’s advantages in this respect are two-fold.First, the company has a very large installed base of Office users. Most legacy data are based on Office, so enterprises are usually reluctant to use other productivity solutions. Second, the BYOD model is dependent on security and cloud integration, both of which are Microsoft’s strengths.This Zacks Rank#2 company has an expected earnings growth rate of 8.4% for the current year (ending June 2022). The Zacks Consensus Estimate for current-year earnings improved 3.7% over the last 60 days.NVIDIA Corp. NVDA is benefiting from the coronavirus-induced work-from-home and learn-at-home wave. It is also benefiting from strong growth in GeForce desktop and notebook GPUs, which are boosting gaming revenues.Moreover, a surge in Hyperscale demand remains a tailwind for the company’s Data Center business. The expansion of NVIDIA GeForce NOW is expected to drive its user base. Further, a solid uptake of artificial intelligence-based smart cockpit infotainment solutions is a boon.This Zacks Rank #2 company has an expected earnings growth rate of 68% for the current year (ending January 2022). The Zacks Consensus Estimate for current-year earnings has improved 5.8% over the last 60 days.Danaher Corp. DHR is poised to gain from Danaher Business System (“DBS”), the policy of rewarding shareholders through dividend payments, synergistic benefits from acquired assets and investment in product innovation in the quarters ahead.The company anticipates core revenue growth in the mid to high-teens range for the third quarter of 2021 and in the high-teens for 2021. The pandemic-led tailwinds are expected to boost core sales by high-single digits in the third quarter and by 10% in 2021.This Zacks Rank #2 company has an expected earnings growth rate of 50.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last 30 days.Costco Wholesale Corp. COST operates membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.Its growth strategies, better price management, decent membership trend and increasing penetration of e-commerce business reinforce its position. The strategy to sell products at discounted prices has helped to draw customers seeking both value and convenience. These factors have been aiding in registering impressive sales numbers.This Zacks Rank #2 company has an expected earnings growth rate of 7.9% for the current year (ending August 2022). The Zacks Consensus Estimate for current-year earnings has improved 1.1% over the last 30 days. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Danaher Corporation (DHR): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Costco Wholesale Corporation (COST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Bull Of The Day: Cutera (CUTR)

This maker of lasers is posting some impressive growth and earnings numbers. Cutera (CUTR) is a Zacks  Rank #1 (Strong Buy) and its CoolGlide family of products has propelled it to some impressive growth and solid earnings. Let’s take a deeper look at this stock in this Bull of the Day article.DescriptionCutera Inc designs, develops, manufactures and markets the CoolGlide family of products for use in laser and other light-based aesthetic applications. The original CoolGlide CV provides permanent hair reduction on all skin types.Earnings HistoryWhen I look at a stock, the first thing I do is look to see if the company is beating the number.  This tells me right away where the market’s expectations have been for the company and how management has communicated to the market.  A stock that consistently beats has management communicating expectations to Wall Street that can be achieved.  That is what you want to see.For CUTR, I see a great history of beating the Zacks Consensus Estimate.  There are four beats over the last four quarters.The average positive earnings surprise over the last fours quarters works out to be 437%, which means the company is consistently posting triple and quadruple the Zacks Consensus Estimate. Earnings Estimates RevisionsThe Zacks Rank tells us which stocks are seeing earnings estimates move higher.  For CUTR, I see estimates moving higher.Over the last 60 days, I see a few increases.This quarter has moved from $0.09 to $0.08.Next quarter has moved from $0.14 to $0.11.The full-year number has increased from $0.33 to $0.58 over the last 60 days.Next year is at $0.75 and that is up from $0.71 over the same time horizon.Positive movement in earnings estimates like that is why this stock is a Zacks Rank #1 (Strong Buy).ValuationThe valuation for CUTR is on the high end, but with growth like this you would expect investors to pay up.  I see an 80x forward earnings multiple and sales growth in the most recent quarter coming in just over 122%.  The price to book multiple of 15x is above the industry average of 11x.  Price to sales comes in at 4.2x and again this is well below the industry average of 114x. Cantor Starts With OverweightOn June 2 Cantor Fitzgerald started coverage of CUTR with an Overweight rating and a price target of $55.  They see topline growth driven by category leadership in body sculpting and acne, recurring revenues and broad industry tailwinds.  The analyst also sees margin improvement over the next few years.Chart Cutera, Inc. Price, Consensus and EPS Surprise Cutera, Inc. price-consensus-eps-surprise-chart | Cutera, Inc. Quote More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cutera, Inc. (CUTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Bear Of The Day: NetEase (NTES)

Despite beating the number in three of the last four quarters, estimates are falling for this stock NetEase (NTES) is a Zacks Rank #5 (Strong Sell) despite beating the Zacks Consensus Estimate in the most recent quarter.  Stocks that miss the number don’t always fall to a Zacks Rank #5 (Strong Sell) so let’s take a look at why that is the case in this Bear of the Day article.DescriptionNetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase, Inc.is based in Beijing, the People's Republic of China.Earnings HistoryWhen I look at a stock, the first thing I do is look to see if the company is beating the number.  This tells me right away where the market’s expectations have been for the company and how management has communicated to the market.  A stock that consistently beats has management communicating expectations to Wall Street that can be achieved.  That is what you want to see.In the case of NTES, I see one miss and three beats of the Zacks Consensus Estimate over the last year.  This alone does not make the stock a Zacks Rank #1 (Strong Buy) and it doesn’t make it a Zacks Rank #5 (Strong Sell) either.The Zacks Rank does care about the earnings history, but it is much more heavily influenced by the movement of earnings estimates.Earnings EstimatesThe Zacks Rank tells us which stocks are seeing earnings estimates move higher or in this case lower.  For NTES I see estimates fluctuating.This quarter has dipped from  $0.74 to $0.73.Next quarter has moved from $1.01  to $1.00 over the last 60 days.The Zacks Rank is more heavily influenced by the move in the annual numbers, and the movement is negative for those numbers.The 2021 consensus number has decreased from $3.58 to $3.36.The 2022 number has moved from $4.56 to $3.98 over the last 60 days.Negative movement in earnings estimates like that is why this stock is a Zacks Rank #5 (Strong Sell).It should be noted that a majority of stocks in the Zacks universe are seeing positive earnings estimate revisions.  That means that the stocks that are seeing small but negative earnings estimate revisions are falling to a Zacks Rank #5 (Strong Sell).Chart NetEase, Inc. Price, Consensus and EPS Surprise NetEase, Inc. price-consensus-eps-surprise-chart | NetEase, Inc. Quote More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NetEase, Inc. (NTES): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks57 min. ago Related News

4 Stocks to Watch in a Thriving Videogame Industry

High demand for videogames since the coronavirus outbreak has been boosting sales of consoles from Microsoft Corporation (MSFT) and Sony Corporation (SNE). The U.S. videogame industry has been doing great for quite some time. Although many had worried that that spending on videogames will slowdown as the economy reopens given that people will have more options for entertainment, that hasn’t happened.In fact, the optimism surrounding videogame sales is likely to continue. According to the latest report by the NPD Group, videogame sales increased once again in August.Videogame Sales RiseAccording to the latest report by the NPD Group, gamers spent $4.37 billion on videogames and accessories in August, increasing 7% year over year. On a year-to-date basis, consumer spending on videogames and accessories reached $37.9 billion, marking a whopping 13% jump from a year ago.Spending on hardware totaled $329 million, jumping 45% year over year. This was also the best August for hardware sales since 2008, when spending hit $395 million. On a year-to-date basis, spending on hardware increased 49%, reaching $3 billion.Sony Corporation’s SONY PlayStation 5 was the best-seller in terms of dollar sales. However, Nintendo Co.’s NTDOY Switch was the top-selling console in August.In terms of games, Electronic Arts Inc.’s EA Madden NFL 22 was the bestselling followed by Sony’s Ghost of Tsushima and Activision Blizzard, Inc.’s ATVI Call of Duty: Black Ops: Cold War.Videogame Market Looks PromisingThe videogame market holds immense potential for growth. It has been a great 2020 and 2021, with sales rising every month since the COVID-19 outbreak, except for a surprise decline in April.Also, new players are foraying into the market which proves that the industry is flourishing. Netflix, Inc. NFLX announced in July that it would be setting foot in the gaming market, as subscriber growth for the streaming giant is fast stagnating. This will only intensify competition in the market in the coming days.Experts had thought that the market would slow down once the economy reopens but sales have been a lot higher than the pre-pandemic and pandemic levels and the momentum is likely to stay. According to NPD Group’s Q2 2021 Games Market Dynamics: U.S., consumer spending on videogames in second-quarter 2021 increased 2% year over year to reach $14 billion. It is expected that the third quarter too will be a good one.Stocks to WatchThe videogame industry is seeing robust sales in2021, given that the pandemic is still keeping people indoors. This makes it an opportune time to invest in gaming stocks that are sure to benefit in the near term.Microsoft Corporation MSFT is one of the leading videogame makers and manufacturers of hardware and accessories. The company has been expanding its footprint in the industry and recently announced that it will be acquiring videogame maker ZeniMax Media.The company’s expected earnings growth rate for the current year is 8.4%. The Zacks Consensus Estimate for current-year earnings improved 3.8% over the past 60 days. Microsoft carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Sony Corporation designs, manufactures and sells several consumer and industrial electronic equipment. The company’s product roster comprises audio and video equipment, televisions, displays, semiconductors, electronic components, gaming consoles, computers and computer peripherals, and telecommunication equipment. The company’s expected earnings growth rate for next year is 18.5%. The Zacks Consensus Estimate for current-year earnings improved 0.9% over the past 60 days.  Sony has a Zacks Rank #3 (Hold).Activision Blizzard, Inc. is a leading developer and publisher of console, online and mobile games. The company’s Call of Duty is one of the most-popular gaming franchises globally. Its Overwatch League can be considered a pioneer of the e-sports concept.The company’s expected earnings growth rate for the current year is 10.4%. The Zacks Consensus Estimate for current-year earnings has improved 1.3% over the past 60 days. Activision Blizzardcarries a Zacks Rank #3.Electronic Arts, Inc. is a leading developer, marketer, publisher and distributor of interactive games (video game software and content). It distributes gaming content and services through multiple distribution channels as well as directly to consumers (online and wirelessly) through its online portals.The company’s expected earnings growth rate for the current year is 15.8%. The Zacks Consensus Estimate for current-year earnings has improved 3.3% over the past 60 days.Electronic Arts has a Zacks Rank #3. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Activision Blizzard, Inc (ATVI): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report Electronic Arts Inc. (EA): Free Stock Analysis Report Nintendo Co. (NTDOY): Free Stock Analysis Report Sony Corporation (SONY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Brent ETF (BNO) Hits a New 52-Week High

The brent crude ETF hits a 52-week high recently. Can it soar higher? For investors looking for momentum, United States Brent Oil ETF BNO is probably a suitable pick. The fund just hit a 52-week high and is up 113% from its 52-week low price of $9.34/share.Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:BNO in FocusThe Brent crude oil looks to track the daily changes in percentage terms of the spot price of Brent crude oil. Its expense ratio is 1.13%.Why the Move?Oil prices jumped on Sep 22 after U.S. crude stocks dropped to their lowest levels in three years as refining activity restored after recent storms. Plus, despite recent scare originating from the Delta variant of Covid-19, overall demand for fuel has rebounded to pre-pandemic levels.More Gains Ahead?It seems like the fund will remain strong, with a positive weighted alpha of 78.53, which gives cues of further rally. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Brent Oil ETF (BNO): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Strength Seen in RBC Bearings (ROLL): Can Its 5.4% Jump Turn into More Strength?

RBC Bearings (ROLL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road. RBC Bearings Incorporated ROLL shares soared 5.4% in the last trading session to close at $199.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.7% loss over the past four weeks.RBC Bearings’ offerings of common and preferred stocks, and senior notes to raise funds for financing the acquisition of Asea Brown Boveri Ltd’s DODGE mechanical power transmission division seem to have sparked sentiments for the stock. The buyout is anticipated to boost RBC Bearings’ market exposure, product offerings and customer base. Accretion in earnings of 40-60% is also expected in the initial full year of the completion of the transaction.This maker of bearings and components is expected to post quarterly earnings of $1.05 per share in its upcoming report, which represents a year-over-year change of +12.9%. Revenues are expected to be $160.79 million, up 9.9% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For RBC Bearings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ROLL going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RBC Bearings Incorporated (ROLL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

3 Hot Cannabis Stocks That Should be on Your Watchlist

Cannabis stocks are set to be the rage on Wall Street in hopes of legalization in the US. Thus, keep an eye on stocks like Tilray (TLRY), Innovative Industrial Properties (IIPR) & GrowGeneration (GRWG). In recent times, most cannabis stocks slipped, with major manufacturers like Jushi Holdings and Curaleaf Holdings tanking 23.8% and 9.9%, respectively, in the past three-month period. Meanwhile, the broader S&P 500 has risen more than 5%.However, it’s also true that the cannabis industry witnessed strong momentum prior to mid-February 2021. But now since cannabis companies haven’t been able to report earnings results as per expectations, their share prices took a beating and several marijuana investors are going through a rough patch at the moment. This has left many such investors speculating the fate of the cannabis industry in the near future.With a degree of certainty, cannabis stocks won’t stay down for long.  In fact, historically, whenever cannabis stocks have lost drastically, it didn’t take much time to bounce back to stupendous heights. Thus, this trend implies that now is the time to keep an eye on cannabis stocks that are well-poised to gain momentum in the near term. Furthermore, such stocks are surely trading at a discounted price right now, which undoubtedly should excite investors.And why won’t cannabis stocks gain momentum? In the United States, a series of regulatory updates proved quite helpful for the cannabis industry. Notable among these is the cannabis legalization draft released in summer by Senate Majority Leader Chuck Schumer that aims to get rid of the federal government’s ban on marijuana. The cannabis legalization bill, no doubt, has to go through a lot many bottlenecks but the sheer speculation that marijuana is going to be legalized will help cannabis stocks chug along in the near term and the pot industry should unquestionably fare well through this year.The legalization of cannabis, by the way, is a long process as there are several issues that need to be addressed by marijuana companies as well as trade associations. However, since the majority of the population in the United States is in favor of legalizing marijuana in the form of medical or recreational usage, it is just a matter of time that there will be momentous reform in the cannabis industry. Some analysts, in the meantime, argue that simply passing a banking reform for the cannabis industry would have helped cannabis companies. But whatever may be the opinion, Congress in all likelihood will legalize the cannabis industry, and that’s certainly good news for cannabis stocks.Let us also admit that the improvement in coronavirus-led expansion in delivery mechanisms and more curbside pickups will boost sales and revenues of cannabis companies in the days to come. Additionally, cannabis companies are entering a consolidation phase and are looking for product innovation, all of which bodes well for the marijuana industry.Thus, as mentioned above, here’re three promising cannabis stocks that are worth a watch right now.Tilray, Inc. TLRY is a pharmaceutical company. It develops cannabis-based medicines, drugs, drops and oil products. Tilray is a Canadian company, which intends to operate in the United States once the federal government legalizes marijuana. The company currently has a Zacks Rank #3 (Hold). The company’s expected earnings growth rate for the current and next year is 71.7% and 92.3%, respectively. Shares of Tilray have plunged 36.4% over the past three months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Innovative Industrial Properties, Inc. IIPR is a real estate investment trust. It is focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for medical-use cannabis facilities. In this process, Innovative Industrial Properties is reaping rental income. The company currently has a Zacks Rank #3. The company’s expected earnings growth rate for the current and next year is 34.2% and 35%, respectively. Shares of Innovative Industrial Properties have dropped 0.1% in the past one-month period.GrowGeneration Corp. GRWG owns and operates specialty retail hydroponic and organic gardening stores in the United States. It actually doesn’t sell cannabis directly to consumers. Instead, the company sells hydroponic cultivation equipment to various marijuana companies. The company currently has a Zacks Rank #3. The company’s expected earnings growth rate for the current and next year is 318.2% and 39.1%, respectively. Shares of GrowGeneration have tanked 40.5% over the past three-month period. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis Report GrowGeneration Corp. (GRWG): Get Free Report Tilray, Inc. (TLRY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Medtronic (MDT) Starts Pediatric Trial for Scoliosis Treatment

Medtronic's (MDT) BRAIVE IDE study will assess the safety and efficacy of growth modulation system in correcting the spine's curve in patients with juvenile or adolescent idiopathic scoliosis. Medtronic plc MDT recently announced the enrollment of its first patient and completion of the first surgical procedure under its BRAIVE IDE study. The study will assess the safety and efficacy of the Braive growth modulation system for treatment of progressive Adolescent Idiopathic Scoliosis (AIS).This device is Medtronic's latest advancement in the pediatric spine category. The initiation of the BRAIVE IDE study reaffirms the company's commitment to continued innovation for pediatric patients.The recent development is likely to fortify Medtronic’s Cranial & Spinal Technologies business, which is part of the Neuroscience portfolio.More on the Device and StudyThe Braive system is intended to correct scoliosis while enabling the spine to continue to grow, which is vital for adolescents experiencing their most important period of growth.The Braive growth modulation system utilizes a braid secured to the spine with screws to slow growth on the curved side of the spine, while enabling growth to continue on the other side.The BRAIVE IDE study will assess the safety and effectiveness in correcting the spine's curve in patients with juvenile or adolescent idiopathic scoliosis. The forthcoming, multi-center study will enroll patients in the United States, Canada, and the United Kingdom. The first patient was employed by The Newcastle Upon Tyne Hospitals NHS Foundation Trust, U.K.Significance of the StudyIt is worth mentioning that globally, nearly 4% of children have scoliosis, making it one of the most frequent pediatric orthopedic deformities. According to the National Scoliosis Foundation, an anticipated 30,000 children per year receive a brace to treat their condition, while 38,000 patients are treated with spinal fusion. Despite the success in correcting the spine's curves successfully, spinal fusion causes vertebrae to combine into a single bone, which impedes growth in that area of the spine.Image Source: Zacks Investment ResearchPer Medtronic’s management, introducing the BRAIVE IDE study is the newest step in bringing life-changing technologies to pediatric patients. As image guidance and navigation compatibilities broaden into additional spinal implant systems designated for pediatric populations, they are combined with a fast cadence of transformative implant innovation. This allows the company to deliver the most all-inclusive and integrated ecosystem of procedural solutions to pediatric spine surgeons that can lead to significant advancements in clinical outcomes for young patients.Industry ProspectsPer a report by Market Watch, the global scoliosis treatment market size is projected to reach $26.49 billion by 2027, from $22.05 billion in 2020, at a CAGR of 2.2%.The greater adoption of implants in orthopedic, an increasing incidence of congenital and idiopathic scoliosis mainly in adolescents are the factors driving the market.Notable DevelopmentsIn August 2021, Medtronic entered into a definitive agreement with Intersect ENT XENT, wherein the former has agreed to acquire Intersect ENT for $1.10 billion. The move is intended to expand Medtronic's product portfolio for ear, nose, and throat procedures while specifically targeting the chronic rhinosinusitis market (CRS). Intersect ENT’s complementary product lines and customer base will advance Medtronic's efforts to offer best solutions for patients suffering from CRS.In June 2021, Medtronic announced the receipt of the FDA approval for Vanta -- a high performance recharge-free implantable neurostimulator (INS) with a device life that can be optimized up to 11 years. The extended battery life, broad MRI compatibility and personalized relief through AdaptiveStim technology enable a more hassle-free experience and greater freedom for patients to manage chronic pain.Price PerformanceShares of the company have gained 27.3% in a year’s time compared with the industry’s rise of 14.8%.Zacks Rank and Key Picks   Currently, Medtronic carries a Zacks Rank #3 (Hold).A couple of better-ranked stocks from the broader medical space are Envista Holdings Corporation NVST and BellRing Brands, Inc. BRBR, each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.Envista Holdings has an estimated long-term earnings growth rate of 27%.BellRing Brands has an estimated long-term earnings growth rate of 29%. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Medtronic PLC (MDT): Free Stock Analysis Report Intersect ENT, Inc. (XENT): Free Stock Analysis Report Envista Holdings Corporation (NVST): Free Stock Analysis Report BellRing Brands, Inc. (BRBR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Input Cost Inflation Turns Things Sour for These Food Stocks

Food companies such as Conagra (CAG), Kellogg (K), The J.M. Smucker (SJM) and TreeHouse Foods (THS) are seeing escalated input costs. Most companies are battling higher ingredients, transportation and packaging costs. Companies in the food space are grappling with cost inflation to a great extent – particularly pertaining to inputs. Inflationary pressure is affecting companies at all ends – be it ingredients or commodities; packaging; freight and transport; as well as labor. To top it, costs associated with COVID-19 as well as higher consumer marketing and innovation costs have been eating into margins of a number of food players. For now, input cost inflation tops the list of concerns for companies in the food industry. In fact, a vast number of players in their last earnings call cautioned about inflated cost scenario in the near term.A Closer Look at Input Cost InflationCosts of certain key ingredients such as edible oils, proteins, soybean, flour, vegetables, dairy items, egg and animal feed among others have been rising over the past few months. Consequently, food companies are bearing the brunt of the increased cost of ingredients. These include ready-to-eat cereal and convenience foods company Kellogg Company K, packaged bakery products producer and marketer Flowers Foods, Inc. FLO, frozen potato products company Lamb Weston Holdings, Inc. LW, and manufacturer, marketer, and distributor of spices, seasoning mixes, condiments, and other flavorful products McCormick & Company, Incorporated MKC.Apart from agricultural ingredients, input costs have been getting a major upward push from packaging costs, which are likely to remain high. This can be accounted to higher cost of materials like cardboard, aluminum and resin, to name a few. Additionally, companies are incurring increased cost of labor and transport – stemming from a tight labor market as well as supply-chain bottlenecks. A number of food companies expect the pandemic-included supply-chain volatility to linger for a while.Clearly, input cost inflation has turned things sour for several companies in the Zacks Food – Miscellaneous industry, which is currently ranked #177 and is placed among the bottom 30% of more than 250 Zacks industries.Will Pricing Efforts Really Help?The looming cost pressure has prompted food companies to undertake aggressive pricing actions. Passing on the elevated input cost pressure to consumers by raising product prices is quite common among companies looking to protect margins. Apart from this, many companies in the food space are focused on undertaking productivity, saving and revenue management initiatives to mitigate the cost challenges.While most companies spoke about resorting to stringent pricing policies in their last earnings call, the benefits from these actions are likely to take time to realize. In fact, several companies particularly stated that they don’t expect cost headwinds to be fully offset by their pricing initiatives in the near term. Consequently, a chunk of companies included cost inflation in their bottom-line guidance for the current fiscal year. A lot of them also trimmed their views as they anticipate cost inflation to continue playing spoilsport in the near term. Image Source: Zacks Investment Research Food Stocks Battered by Cost InflationConagra Brands, Inc. CAG lowered its adjusted operating margin and earnings guidance for fiscal 2022, when it reported fourth-quarter fiscal 2021 results. Adjusted operating margin in fiscal 2022 is now anticipated to be nearly 16% and adjusted earnings per share (EPS) is likely to be about $2.50, down from adjusted operating margin of 18-19% and adjusted EPS of $2.63-$2.73 expected earlier. Increased cost inflation prompted this consumer packaged goods food company to trim its guidance. Management expects cost inflation of nearly 9% in fiscal 2022. Although Conagra is focused on undertaking relevant saving and pricing efforts to combat this inflation, the timing and gains from these initiatives are likely to be more skewed toward the second half of fiscal 2022. These actions are unlikely to completely offset input cost woes in fiscal 2022. The first quarter of fiscal 2022 is, in fact, likely to be the lowest-margin quarter in the fiscal. Shares of this Zacks Rank #3 (Hold) company have dropped 5.1% in the past three months compared with the industry’s decline of 5.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks #3 Ranked Kellogg is encountering disruptions related to a tight supply of materials, freight and labor as well as the associated cost inflation. Apart from this, costs related to COVID-19 and mix shift toward emerging markets weighed on its second-quarter 2021 gross margin. Management on its earnings call stated that it expects industry-wide supply-chain headwinds as well as elevated cost inflation in the second half of 2021. It expects gross margin to be more under pressure in the second half of 2021 than the first due to the prevailing operating and cost landscape. Kellogg expects gross margin in 2021 to lag the 2019 levels. Despite raising its organic sales guidance, management reiterated the operating profit and bottom-line guidance for 2021. Adjusted operating profit is still expected to decline roughly 1-2% at cc. Adjusted EPS (at cc) is envisioned in the range of down 2% to up 1%. Shares of Kellogg climbed a marginal 0.6% over the past three months.The J. M. Smucker Company SJM announced a guidance cut for fiscal 2022 when it released first-quarter results. This branded food and beverage company is encountering key commodity cost inflation along with supply-chain volatility surrounding the availability of labor and transportation. The J.M. Smucker, on its first-quarter earnings call, stated that it expects to encounter escalated raw material and logistic costs. Management expects supply-chain disruptions and cost inflation to persist through the rest of fiscal 2022. Cost inflation is now expected to have a high-single digit impact on cost of goods sold. For fiscal 2022, management now expects gross profit margin to be 36%, down from 37-37.5% expected earlier. Adjusted EPS for fiscal 2022 is now envisioned in the range of $8.25-$8.65, down from $8.70-$9.10 projected before. Owing to cost inflation and the timing of pricing actions, management expects EPS to decline in the second and third quarter of fiscal 2022. The Zacks Rank #4 (Sell) stock has lost 5.5% in the past three months.TreeHouse Foods, Inc. THS also curtailed its 2021 earnings guidance when it reported second-quarter results. Management, on its earnings call, said that it expects a further increase in commodity, freight, and packaging costs. The manufacturer and distributer of private label packaged foods and beverages predicts additional cost inflation of $40 million in 2021, which is unlikely to be countered by pricing. Adjusted earnings from continuing operations are expected to be $2.00-$2.50 per share for 2021, down from the previously-guided range of $2.80-$3.20 per share. For the third quarter of 2021, management expects adjusted EPS from continuing operations of 45-60 cents. In third-quarter 2020, the metric came in at 71 cents per share. The Zacks Rank #5 (Strong Sell) stock has declined 15.1% over the past three months. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONAGRA BRANDS (CAG): Free Stock Analysis Report The J. M. Smucker Company (SJM): Free Stock Analysis Report Kellogg Company (K): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report Flowers Foods, Inc. (FLO): Free Stock Analysis Report TreeHouse Foods, Inc. (THS): Free Stock Analysis Report Lamb Weston Holdings Inc. (LW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Steelmakers Capitalize Record Prices to Spend Big on New Mills

The recently announced multi-billion projects from major U.S. steel producers reflect the underlying strength in the domestic steel industry underpinned by strong demand and record-high prices. Record-high steel prices and an upswing in demand in the manufacturing sector have ushered in boom time for the steel industry. Some of the biggest names in this space are making big investment to establish new mega mills to leverage the industry’s bull run.Steel Boom Driving Spending SplurgeMajor American steel producers, Nucor Corp. NUE and United States Steel Corp. X recently announced plans to set up new mills in the United States.Nucor, on Monday, announced its plans to construct a state-of-the-art sheet mill having an annual capacity of 3 million tons. It is looking at locations in Ohio, Pennsylvania and West Virginia to build the mill.The company is spending roughly $2.7 billion on the new mill that will be able to produce hot-rolled sheet products with downstream processing. The construction is expected to take two years after the required regulatory approvals are obtained. The geographic position of the mill will allow it to serve Midwestern and Northeastern customers and ensure a significantly lower carbon footprint than nearby competitors.Nucor noted that the new mill will allow it to meet the growing need of many of its customers, especially in the automotive market. The sheet mill is the latest in a series of investments made by the Charlotte-based steel giant that are expected to contribute to profitable growth and strengthen its position as a low-cost producer. The company is on track with its other significant growth projects — the Brandenburg plate mill, the Generation 3 flexible galvanizing line at the Hickman sheet mill and the modernization and expansion of the Gallatin sheet mill in Kentucky.U.S Steel, last week, also said that it plans to spend $3 billion to build a new, three-million-ton mini mill flat-rolled facility in the United States. The planned mini mill will integrate two state-of-the-art electric arc furnaces (“EAF”) with differentiated steelmaking and finishing technology, including purchased equipment owned by the company. The continued adoption of mini mill technology will enhance the company’s ability to produce the next generation of highly-profitable proprietary sustainable steel solutions, including Advanced High Strength Steels.U.S. Steel expects to start construction of the mini mill in the first half of 2022 and commence production in 2024. The planned investment is a key step toward achieving the company's 2030 goal of reducing global greenhouse gas emissions intensity by 20% from the 2018 baseline.The newly announced multi-billion projects from these major steel producers reflect the underlying strength in the steel industry underpinned by solid demand and pricing fundamentals. Steel Dynamics, Inc. STLD is also progressing with the construction of its 3 million-ton state-of-the-art EAF flat roll steel mill in Sinton, TX with production expected to commence in fourth-quarter 2021.The U.S. steel industry came roaring back in 2021 after bearing the brunt of the pandemic last year, thanks to a strong revival in domestic demand and zooming steel prices.Coronavirus hurt demand for steel across major end-use markets such as construction and automotive during the first half of 2020. However, demand for steel started to pick up from the third quarter last year with the resumption of operations across major steel-consuming sectors, following the loosening of restrictions.American steel makers are seeing healthy order booking in automotive, notwithstanding the semiconductor crunch. Demand in the non-residential construction market and equipment also remains resilient.The demand rebound has contributed to the significant uptick in U.S. steel industry capacity utilization on the restart of idled capacity. U.S. steel prices are also on an upswing, driven by an upturn in demand and supply shortages partly due to the pandemic.The benchmark hot-rolled coil (“HRC”) prices are shooting higher on U.S. steel mills’ price hike actions, tight supply conditions, low steel imports and solid pent-up demand. Prices are hitting fresh highs, having shot up more than four-fold from the lows witnessed in August 2020 and also nearly doubled since the start of 2021. HRC prices have cruised above the $1,900 per short ton level as the upward momentum continues.The price rally is expected to continue in the coming months on solid demand and supply constraints, which is likely to be exacerbated by a series of planned mill outages and scheduled maintenance.U.S. Steel Industry Looks Set for A Solid Q3 Earnings SeasonRobust domestic demand and the price surge helped U.S. steel companies deliver strong results in the second quarter. These companies are benefiting from spread expansion as a significant spurt in HRC prices has more than offset higher ferrous scrap costs. Higher demand and a favorable pricing environment are likely to help U.S. steel producers to continue the momentum in the third quarter.Some of the prominent U.S. steel producers recently came up with an upbeat guidance for the September quarter. Nucor said that it expects to log record quarterly earnings in the third quarter, driven by strong demand across most of its end-markets and higher average selling prices. Steel Dynamics also sees record quarterly performance, supported by strong underlying steel demand and significant metal spread expansion, especially within the flat roll steel operations.U.S. Steel expects record third-quarter results driven by its Best for All business model, strong reliability and quality performance, persistent customer demand as well as sustained rise in steel selling prices. Olympic Steel, Inc. ZEUS, last month, said that it expects a strong third quarter on strong market dynamics and record-high prices.Nucor, Steel Dynamics and U.S. Steel each sports a Zacks Rank #1 (Strong Buy), while Olympic Steel has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank stocks here. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Steel Dynamics, Inc. (STLD): Free Stock Analysis Report United States Steel Corporation (X): Free Stock Analysis Report Nucor Corporation (NUE): Free Stock Analysis Report Olympic Steel, Inc. (ZEUS): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks57 min. ago Related News

5 Stocks to Watch as EV Adoption Revs Up

EV adoption has witnessed significant growth this year. Thus, investors should keep an eye on Nikola (NKLA), Hyliion (HYLN), Tesla (TSLA), Ford (F) & General Motors (GM). Electric vehicles (EV) are rapidly gaining in terms of reliability and a way to reduce the global carbon footprint. Longest-lasting, farthest-driving and affordable batteries are the key parameters of the race in the EV market.The automobile industry is moving toward electrification and the U.S. government is providing aid through the promotion of EV infrastructure and consumer rebates. Regardless of the government’s boost and the infrastructure bill scheduled to be passed on Sep 27, the industry is poised to witness tremendous growth.Consumer enthusiasm has been a key to EV growth, as can be seen from the boom in sales. In the first quarter of 2021, global EV sales surged 160% from the same quarter last year to 2.6 million units, according to a report by Canalys. Sales have been spectacular despite several supply-side constraints, especially the pandemic and chip shortage.China is the largest EV market while Europe has the highest EV adoption, with Norway leading with more than 80% of new car sales. Meanwhile, the United States is trying to catch up and the Biden administration hopes 40% to 50% of all new cars sales to be EVs by 2030.Recent technological developments are also boosting the EV space, starting from carmakers to battery producers and charging networks. In fact, batteries are the linchpin of any EV and this segment has especially witnessed exponential growth. Companies like Hyliion Holdings Corp. HYLN are developing electric powertrains that are compatible with renewable natural gas and hydrogen fuel cells. Meanwhile, QuantumScape announced a major breakthrough in solid-state lithium metal batteries that can totally change the way consumers view EVs.The EV market has also created several niches like battery recycling and disposal of old batteries. Companies like Li-Cycle Holdings, founded only in 2016, estimates that the EV industry will produce more than 15 million tons of discarded lithium-ion batteries by 2030. Li-Cycle, a battery recycling firm, plans to capture this segment by offering an outlet for used batteries and a sustainable source for materials to be used in recycled batteries. It aims to recover usable materials from thrown-away batteries and touts that up to 95% of the battery materials can be processed for recovery, which in turn will reduce waste.Automobile bigwigs are also investing millions into EVs. On Sep 22, Ford Motor Company F reported that it is investing $50 million in Redwood Materials to recycle EV batteries. Redwood, which is well known for recycling batteries for e-bike, will expand its manufacturing facilities and cater to make EVs more sustainable and affordable. This deal is part of the $22-billion plan that Ford earlier announced to up its game in the EV market. The company also has the Mach-E, the e-Transit commercial van, and an electric F-150 line-up, set to be launched this year and the next.5 Stocks to WatchGlobal administration bodies are increasing regulations to phase out fossil fuel-powered vehicles and promoting EV infrastructure. Additionally, the decline in the cost of batteries and the luxury that EVs provide are also attracting buyers. Per a Meticulous Market Research forecast, the global EV market is expected to reach $2.5 trillion by 2027, at a CAGR of 33.6% from 2020. The company estimates the sale of 233.9 million units by 2027, at a CAGR of 21.7%.Given the positives, we have shortlisted five stocks covering EV manufacturers (pure-play & traditional), battery makers and charging networks that are poised to grow and investors should look out for.Nikola Corporation NKLA develops and commercializes battery-electric (BEV) and fuel cell electric (FCEV) Class 8 trucks for the short, medium, and long-haul trucking sector and also offers hydrogen EVs, EV drivetrains, vehicle components, and energy storage systems. Earlier in September, Nikola inaugurated a joint-venture manufacturing facility with CNH Industrial dedicated to the development of the Nikola Tre electric heavy-duty trucks.The company’s expected earnings growth rate for the current quarter is 16.1% against the Zacks Automotive - Domestic industry’s projected decline of 48.7%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 18.5% upward over the past 60 days. Nikola currently holds a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Hyliion Holdings designs, develops, and sells electrified powertrain solutions and also provides battery management systems for hybrid and fully EV applications. This Zack Rank #2 company that belongs to the Zacks Automotive - Original Equipment industry has an expected earnings growth rate of 50% for the current quarter. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 9.4% upward over the past 60 days.Tesla, Inc. TSLA designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems.The company’s expected earnings growth rate for the current year is more than 100% compared with the Zacks Automotive - Domestic industry’s projected growth of 15.2%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 19.1% upward over the past 60 days. Tesla carries a Zack Rank #3 (Hold).Ford, a Zack Rank #3 company, designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles. The company plans to add F-150 Lightning with four series and two battery options to the range of Mustang Mach-E catalog by spring 2022.The auto giant has an expected earnings growth rate for the current year of more than 100% compared with the Zacks Automotive - Domestic industry’s projected growth of 15.2%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 28.2% upward over the past 60 days.General Motors Company GM designs, builds, and sells cars, trucks, crossovers, and automobile parts. The company recently unveiled the Cadillac LYRIQ show car and the GMC HUMMER EV, which joined the Chevrolet Bolt EV, and is currently on the market. The auto giant will invest $27 billion in EVs and associated products between 2020 and 2025.This Zack Rank #3 company’s expected earnings growth rate for the current year is 25.7% compared with the Zacks Automotive - Domestic industry’s projected growth of 15.2%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 0.7% upward over the past 90 days. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Nikola Corporation (NKLA): Free Stock Analysis Report Hyliion Holdings Corp. (HYLN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News

Accenture (ACN) Q4 Earnings Top Estimates

Accenture (ACN) delivered earnings and revenue surprises of 0.46% and -0.36%, respectively, for the quarter ended August 2021. Do the numbers hold clues to what lies ahead for the stock? Accenture (ACN) came out with quarterly earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.19 per share. This compares to earnings of $1.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.46%. A quarter ago, it was expected that this consulting company would post earnings of $2.23 per share when it actually produced earnings of $2.40, delivering a surprise of 7.62%.Over the last four quarters, the company has surpassed consensus EPS estimates four times.Accenture, which belongs to the Zacks Consulting Services industry, posted revenues of $13.42 billion for the quarter ended August 2021, missing the Zacks Consensus Estimate by 0.36%. This compares to year-ago revenues of $10.84 billion. The company has topped consensus revenue estimates three times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Accenture shares have added about 28.1% since the beginning of the year versus the S&P 500's gain of 17%.What's Next for Accenture?While Accenture has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Accenture was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.47 on $13.24 billion in revenues for the coming quarter and $9.81 on $55.48 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consulting Services is currently in the top 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Accenture PLC (ACN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks57 min. ago Related News