Stocks To Avoid Wednesday: LKQ, Nucor, MSCI, And More

(MENAFN- Baystreet) Today's Stock News: Enphase, Visa, Chubb, and Seagate

  • Mid-Week Trades: Tesla, Global Life, and GE Aerospace
  • Stocks to Buy: Elevance, Blackstone, P&G, ASML, and TSM
  • HSBC Opens New Wealth Centre at Hudson Yards
  • This is Why Gold Could Rally All the Way to $3,000 Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Wednesday, April 24, 2024

    Stocks To Avoid Wednesday: LKQ, Nucor, MSCI, and More

    The weak start for stock markets in the second quarter suggests that investors should exercise caution. Avoid companies that posted weak results.

    On Tuesday, LKQ (LKQ), which provides alternative and specialty parts for the automotive repair market, posted revenue of $3.7 billion (+10.6%). Markets did not like the cut in organic revenue growth expected for the full year of 2024. In addition, diluted EPS will fall.

    In the steel production sector, both Nucor (NUE) and Cleveland Cliffs (CLF) fell yesterday. NUE stock lost 8.9% after posting a 6.5% drop in revenue. Earnings will fall in Q2. The steel mills segment will underperform since average selling prices will fall, offset slightly by higher volumes.

    CLF stock lost 11% after posting disappointing earnings and revenue. The firm will buyback $1.5 billion in shares.

    MSCI lost 13.4% on Tuesday. The firm posted expenses rising by 22.7% Y/Y to $340.6 million. Expect MSCI to cut costs, lifting profits. For now, avoid MSCI stock.

    In the technology sector, the jury is still out on the Magnificent 7 and artificial intelligence chip suppliers. While Microsoft (MSFT) and Amazon (AMZN) demonstrate growth, shareholders expect Apple (AAPL) to post weaker sales. This is due primarily to weak demand in China.

    • About Us
    • Contact Us
    • Advertise
    • License Our Content
    • Jobs
    • Disclaimer
    • Privacy Policy

    Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks



    Legal Disclaimer:
    MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.