Monday, August 14 is set to be an eventful day in the world of finance, with several major companies reporting earnings and analysts making key predictions. Here are my top 10 things to watch on this busy Monday:
1. Retail Earnings: Target (TGT) and Walmart (WMT) Results
Investors will be closely tracking the second-quarter results of retail giants Target and Walmart. Target is considered undervalued, and its performance could shed light on the overall state of the retail industry. On the other hand, Walmart, which reports on Thursday, may face questions about whether it is overvalued. Keep an eye on the stock movements of both these companies, as they could have a significant impact on the market.
2. Morgan Stanley: Nvidia (NVDA) Top Pick or Not?
Morgan Stanley has named Nvidia as a top pick and predicts a beat and raise when the company reports its second-quarter results on August 23. However, caution is advised as the stock may not yet be ready to be bought. Investors should pay close attention to the guidance provided by the company and consider whether it aligns with Morgan Stanley’s bullish stance.
3. Analyst Upgrades: Amgen (AMGN) Price Targets Raised
Analysts at Mizuho have raised their price target on Amgen, a low-risk pharmaceuticals company, from $214 to $223 per share. Jefferies, on the other hand, has increased its price target to $310 per share. The differing opinions on the stock highlight the need for investors to thoroughly analyze the company’s performance and outlook before making any investment decisions.
4. U.S. Steel (X) Rejects Takeover Bid from Cleveland-Cliffs (CLF)
U.S. Steel has rejected an unsolicited takeover bid from rival Cleveland-Cliffs. The bid, which would have valued U.S. Steel at around $7 billion, was met with skepticism by U.S. Steel, who is currently reviewing its strategic options. The Federal Trade Commission’s stance on the potential takeover will be crucial in determining the future direction of these companies and the overall steel industry.
5. Urban Outfitters (URBN) Downgraded by Citigroup
Citigroup has downgraded clothing retailer Urban Outfitters to neutral from buy and raised its price target to $40 per share. While Citigroup expects the company to deliver strong earnings, it believes that market expectations are too high. This downgrade may concern investors who were optimistic about Urban Outfitters’ performance. It is important to closely monitor the company’s second-quarter earnings on August 22.
The financial landscape on Monday, August 14 is filled with opportunities and risks that investors should carefully consider. Earnings reports from Target, Walmart, and other major companies, as well as analyst predictions, will likely have a significant impact on the market. By staying informed and vigilant, investors can navigate these developments and make sound investment decisions.
Analyst comment
1. Positive news: The performance of retail giants Target and Walmart could shed light on the overall state of the retail industry. Investors should closely monitor their stock movements as they could have a significant impact on the market.
2. Neutral news: Morgan Stanley has named Nvidia as a top pick but advises caution in buying the stock. Investors should pay attention to the company’s guidance and consider whether it aligns with Morgan Stanley’s bullish stance.
3. Neutral news: Analysts have differing opinions on Amgen’s stock. Investors should thoroughly analyze the company’s performance and outlook before making any investment decisions.
4. Neutral news: U.S. Steel has rejected a takeover bid from Cleveland-Cliffs, and its strategic review will determine the future direction of the companies and the overall steel industry.
5. Neutral news: Citigroup has downgraded Urban Outfitters, citing high market expectations. Investors should closely monitor the company’s second-quarter earnings.
Overall, the market could be influenced by the earnings reports and predictions of these major companies. Investors should stay informed and vigilant to make sound investment decisions.
