🦉 Amazon comes to a boil; complete price reversal in sight
Sluggish growth in the AWS segment or not, Amazon.com Inc. (NASDAQ: AMZN) is performing well in all segments, and its stock is poised to complete a total reversal. Amazon led the charge into the cloud more than two decades ago and had little serious competition until now. Now, Microsoft Inc. (NASDAQ: MSFT) is taking share in the cloud, but even still, its Intelligent Cloud business is on par with AWS regarding revenue, and AWS is still growing by double-digits. What is a reversal? A reversal is when the direction of price action changes, from up to down or down to up, and sometimes from down or up to sideways. .
Equity markets continued to sell off last week despite some better-than-expected earnings reports. The move was driven by hot economic data that points to persistent GDP growth, consumer demand, and inflation. With the FOMC meeting slated for the week, the risk is that hawkish Fed rhetoric will intensify and may telegraph the next policy move as an increase in rates. In this scenario, the S&P 500 could shed another 10% or more before hitting its bottom.
The S&P 500 shed more than 2.5% for the week, bringing the index below the critical 4,150 level. If the market doesn't snap back this week, the odds are high that the selling will continue. The question now is what could turn this market around, and it looks like it will take a great deal. The market may not be able to regain its footing until later in 2024 once the economic headwinds subside and inflation is finally tamed, or not.
Sluggish growth in the AWS segment or not, Amazon.com Inc. (NASDAQ: AMZN) is performing well in all segments, and its stock is poised to complete a total reversal. Amazon led the charge into the cloud more than two decades ago and had little serious competition until now. Now, Microsoft Inc. (NASDAQ: MSFT) is taking share in the cloud, but even still, its Intelligent Cloud business is on par with AWS regarding revenue, and AWS is still growing by double-digits. What is a reversal? A reversal is when the direction of price action changes, from up to down or down to up, and sometimes from down or up to sideways.
There is a recession-proof company that is poised to grow in the coming years. Our research team has given them our highest score as a solid addition to any portfolio. By clicking link you are subscribing to The Darwin Investor Network and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy. Full disclosures found here.
Exxon Mobil's third-quarter profit declined compared with last year when the oil giant put up record numbers as oil prices soared, but net income jumped 15% compared with the previous quarter. It also raised its quarterly dividend.Those lofty crude prices have fueled an Exxon shopping spree. In July, the company agreed to pay $4.9 billion for Denbury Resources, an oil and gas producer that has entered the business of capturing and storing carbon and stands to benefit from changes in U.S. climate policy. Then a few weeks ago, Exxon topped that deal by announcing that it would buy shale operator Pioneer Natural Resources for $60 billion.Exxon isn't alone.
Autonomous driving specialist and Intel Corp. (NASDAQ: INTC) spinoff Mobileye Global Inc. (NASDAQ: MBLY) gapped up at the open on October 26 after beating third-quarter profit and revenue estimates. MarketBeat’s Mobileye Global earnings data show the company earning 22 cents a share on revenue of $530 million. Wall Street was expecting net income of 17 cents per share and revenue of $528.63 million. Mobileye also narrowed the range for its expected operating loss in the current quarter, saying it now expects to lose between $62 million and $79 million, significantly better than its previous forecast of $98 million to $129 million. Mobileye’s customers include BMW, Audi, Ford Motor Co.
The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.
Jamie Dimon will do something he has never done before in nearly two decades as the head of JPMorgan Chase & Co. - sell shares in the company. The top executive of the nation's largest bank will sell 1 million shares starting next year, according to a regulatory filing this week. JPMorgan sought to reassure investors that the stock sale is not a matter of concern."Mr. Dimon continues to believe the company's prospects are very strong and his stake in the company will remain very significant," the filing said.Dimon and his family currently hold about 8.6 million shares of the bank.And JPMorgan has become a titan under Dimon's leadership.
Shares of AbbVie Inc. (NYSE: ABBV) have been under pressure for nearly two years because of mounting fears about the patent cliff. The patent cliff impacted the company’s results but has done nothing to change its financial health, position, long-term outlook or ability to deliver value for investors. The stock discounted to deep-value levels, paying about a 4.7% dividend yield, near the top of the historical range, and offers an opportunity for income investors. AbbVie’s growth machine solid; Humira sales still strong Humira is a concern for AbbVie and its investors, but the signals from the data suggest the worst-case scenario is far from reality.
?" One small biotech holds the key to a revolution in treating Alzheimer's disease. Jeff Bezos, Goldman Sachs & Big Pharma giants have invested billions into this unknown biotech. Our research proves that anyone who gets in today could see 113,000% gains! Get the name of the stock here >>>
Less than a year is left before the Bitcoin halving — an event when the reward for mining a Bitcoin block will be cut in half. Historically, the halving has been followed by a major bull run in the crypto market. Should we expect the crypto summer soon — and what other factors may push the Bitcoin price up?Related: Bitcoin Is Back, Apparently. Here's What's Fueling the Surge.What is Bitcoin halving?Bitcoin supply is limited. No more than 21 million coins will ever exist, and the new ones are only issued to reward miners for running the network. Currently, the size of this reward is 6.25 coins per block — and every four years, it is reduced by half.
If the economy is headed for a slowdown or recession, as many analysts expect, you might instantly think about doubling down on casino stocks. Boyd Gaming Corp. (NYSE: BYD), Caesars Entertainment Inc. (NASDAQ: CZR), Penn Entertainment Inc. (NASDAQ: PENN) and Wynn Resorts Ltd. (NASDAQ: WYNN) have some characteristics that could make them good bets if the economy slows. It's understandable why many investors associate casinos with Vegas vacations or business junkets, but for some companies, their strength lies in regional business. That's where the potential in an economic downturn comes in: People will continue seeking local entertainment, even if they decide to skip the Vegas vacation for a year.
You know that triangular-shaped tower in the heart of Manhattan, the one not quite like the rest? The Flatiron Building, historically used for offices, has been facing recent financial challenges and is set to transform into luxury housing, The New York Times reported.The 22-story, limestone and terra-cotta-building was built in 1902 and is only 6.5-feet wide in some places. Despite the building itself being vacant since early 2019, the neighborhood around it, which is now called "Flatiron" is surrounded by luxury condos and high-end restaurants.In March, an unknown buyer won an auction for the property at $190 million but failed to follow through with the $19 million deposit.
The Night Owl is an evening newsletter published by The Early Bird and powered by MarketBeat. The Night Owl covers top stories on the stock market and outlook on interesting stocks. If you give a hoot about the market, read your copy every Tuesday, Thursday, and Sunday evening.
American Consumer News, LLC dba MarketBeat 326 E 8th St #105, Sioux Falls, SD 57103. contact@marketbeat.com (844) 978-6257
No comments:
Post a Comment