Stocks To Watch: Cisco, Meta, Pepsi And More
Date
2/12/2024 9:06:41 AM
(MENAFN- Baystreet)
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Chris La - Monday, February 12, 2024
Stocks To Watch: Cisco, Meta, Pepsi and More
The S&P 500's monumental above 5,000-point close will put the magnificent seven stocks in the spotlight this Monday. Meta (META), Microsoft (MSFT), Amazon (AMZN), and Nvidia (NVDA) gained around 20% in 2024. Few question the tremendous returns in only 1.5 months as markets ignore valuations. Even the Federal Reserve's stark warning of keeping rates the same in March failed to instill fears.
Cisco (CSCO), a relic of a bubble mania stock in the year 2000, will reportedly cut thousands of jobs. It wants to pivot into high-growth areas. Cisco employed 84,900 by the end of 2023. Changing its course of business does not come without substantial risk. The company would need to pay a high premium on over-valued firms just to catch up. Shareholders need to hope that the firm exercises constraint in its merger and acquisition endeavors.
Pepsi (PEP) hiked prices for its food and drink products. Despite hiking its dividend by 7% to $5.42 a share, investors sold the stock last Friday. Shareholders wanted Pepsi to post more than the 0.5% revenue decline in Q4.
Over in the beat-up biotech sector, Moderna (MRNA) risks falling further. Not only did it report poor clinical data for its RSV vaccine, but the Metagenomi-backed IPO did not do well. MGX stock lost 31.27% on its debut.
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