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Most Actively Traded Stocks: AT&T, Nvidia, TLT, and TDY
The relief rally for AT&T (T) will continue today after gaining 1.88% on Wednesday. The struggling telecom firm posted revenue falling by 0.4% Y/Y to $30 billion. Additionally, the firm added 349,000 postpaid subscribers.
The postpaid phone churn is at a record low in the first quarter. Expect margins to improve from here, thanks to the Mobility and Consumer Wireline sector. AT&T expects to earn $2.15 - $2.25 a share in 2024.
Look for Verizon (VZ) and T-Mobile (TMUS) to trade at above-average volume today.
Nvidia (NVDA) will trade on strong volume today. The firm is acquiring an Israeli startup, Run:ai, paying a modest $700 million. Run:ai helps customers manage their computer infrastructure, regardless of the environment.
In the bond market, the 20+ year Treasury Bond ETF (TLT) continues to sink. It will keep falling toward the $80 range in the week ahead. Markets are bracing for interest rates above 5% for most of 2024.
In the healthcare sector, conglomerate Teledyne Technologies (TDY) lost 10.95% in value yesterday. The firm posted a 2.4% Y/Y drop in revenue, to $1.35 billion. It lowered its GAAP EPS from $17.15 - $17.53 down to $16.02 to $16.27. Despite strong order levels, shorter cycle imaging and instrumentation markets hurt results.
TDY stock has more downside ahead. Until sales rebound, investors will avoid investing in this company.
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