(MENAFN- Baystreet) Tech Leaders Pave the Way for Generative AI, Poised for Massive Economic Impact
Apple Unveils New iPad Models
Must-Read Stock Market News: TikTok Sues, Apple iPad, and More
Mid-Week Hot Stocks: Reddit, Lyft, Peloton and More
Stocks on Sale Wednesday: Palantir, Disney, Match, and Twilio Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Wednesday, May 8, 2024
Wednesday's Stock Trades: FMC, IFF, KVUE, BLDR, RIVN
FMC will continue to erase its 2024 YTD losses on stock markets today. Shares gained 9.46% on Tuesday after the firm posted Q1 results. It earned 36 cents a share (non-GAAP) on revenue of $918 million (-31.5% Y/Y).
FMC issued a revenue outlook of $4.5B to $4.7B, above consensus.
International Flavors & Fragrances (IFF) may add to its uptrend. The firm posted revenue falling by 4.3% Y/Y to $2.9 billion. Its full-year 2024 sales guidance of $10.8B to $11.1B is above consensus. Watch IFF stock return to above $100 next.
Kenvue (KVUE) may hold the $20.00 level after reporting a 28-cent per share profit (non-GAAP). It will save $350 million annualized, fully realized in 2026, by cutting 4% of its global workforce.
After plunging by 19% yesterday, Builders FirstSource (BLDR) will try to bounce back today. In its Q1 report, the firm blamed commodity deflation for the 0.2% increase in net sales to $3.9 billion.
BLDR stock is attractive. The firm has solid financials that will reward long-run investors. The stock price drop creates an attractive entry point.
In the EV market, Rivian (RIVN) lost $1.24 a share, even as revenue jumped by 81.5% Y/Y to $1.2 billion. Watch out for the stock to head back below $9.00. It may potentially retest the $8.26 reached a few weeks ago.
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
MENAFN08052024000212011056ID1108188970
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.