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The narrow trading range among major U.S. market indexes continues as the final trading day of the week begins. As investors await stimulus relief aid to be released by the federal government, while Covid vaccines continue to ramp-up but are well off-pace of herd immunity as of yet, there is little impetus to push shares higher or lower. The Dow, Nasdaq and S&P 500 are all in the red to a minor degree ahead of Friday’s opening bell. Markets are on-pace for another up-week, albeit a light one.
News out of South Korea is that the largest Asian IPO since Alibaba (BABA - Free Report) is now expected: Coupang (CPNG), considered the Amazon meets DoorDash meets Instacart of the country, looks to be publicly traded sometime next month. The company is known for its impressive 7-hour package delivery operation, which has basically kept companies like Amazon and Alibaba from gaining a foothold in the country. SoftBank is a big investor in Coupang, and stands to make 7x its investment in the company upon going public.
Zacks Rank #1 (Strong Buy)-rated American Axle (AXL - Free Report) reported another big beat on its bottom line for Q4 just reported this morning. Earnings of 51 cents per share stomped the expected 30 cents in the Zacks consensus, and nearly 4x times the year-ago 13 cents per share reported. Revenues of $1.44 billion easily surpassed the $1.36 billion, swinging to positive sales growth year over year. Current-year revenue estimates of between $5.2-5.5 billion sets a new high mark, well above the $4.63 billion out analysts had been looking for.
On the other hand, Zacks Rank #4 (Sell)-rated Dominion Energy (D - Free Report) missed earnings estimates by two cents to 81 cents per share in its Q4 report, also released this morning. Revenues of $3.52 billion missed expectations by 4.1% in the quarter. This marks the second earnings miss in the past four quarters for the Atlantic Coast power giant. Shares are down a few pennies on the news, and down 1% year to date. Going back further, the stock is down 14% year over year. For more on D’s earnings, click here.
It’s been a relaxed week of slightly buoyant market activity. Investors have been able to twiddle their thumbs as see modest gains across industries, as reflections on a successful Q4 earnings season settle in, with more good news to come in the quarters ahead. No major news reports of short-squeezers gripping hedge funds where it hurts, flashing visions of 400% gains in relatively forgotten stocks like GameStop (GME - Free Report) have been virtually nonexistent. Some Reddit trading in the pot stocks group, but nothing as severe as we saw in the past two weeks.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Investor Sentiment Relaxes, Buoyantly
Friday, February 12, 2021
The narrow trading range among major U.S. market indexes continues as the final trading day of the week begins. As investors await stimulus relief aid to be released by the federal government, while Covid vaccines continue to ramp-up but are well off-pace of herd immunity as of yet, there is little impetus to push shares higher or lower. The Dow, Nasdaq and S&P 500 are all in the red to a minor degree ahead of Friday’s opening bell. Markets are on-pace for another up-week, albeit a light one.
News out of South Korea is that the largest Asian IPO since Alibaba (BABA - Free Report) is now expected: Coupang (CPNG), considered the Amazon meets DoorDash meets Instacart of the country, looks to be publicly traded sometime next month. The company is known for its impressive 7-hour package delivery operation, which has basically kept companies like Amazon and Alibaba from gaining a foothold in the country. SoftBank is a big investor in Coupang, and stands to make 7x its investment in the company upon going public.
Zacks Rank #1 (Strong Buy)-rated American Axle (AXL - Free Report) reported another big beat on its bottom line for Q4 just reported this morning. Earnings of 51 cents per share stomped the expected 30 cents in the Zacks consensus, and nearly 4x times the year-ago 13 cents per share reported. Revenues of $1.44 billion easily surpassed the $1.36 billion, swinging to positive sales growth year over year. Current-year revenue estimates of between $5.2-5.5 billion sets a new high mark, well above the $4.63 billion out analysts had been looking for.
On the other hand, Zacks Rank #4 (Sell)-rated Dominion Energy (D - Free Report) missed earnings estimates by two cents to 81 cents per share in its Q4 report, also released this morning. Revenues of $3.52 billion missed expectations by 4.1% in the quarter. This marks the second earnings miss in the past four quarters for the Atlantic Coast power giant. Shares are down a few pennies on the news, and down 1% year to date. Going back further, the stock is down 14% year over year. For more on D’s earnings, click here.
It’s been a relaxed week of slightly buoyant market activity. Investors have been able to twiddle their thumbs as see modest gains across industries, as reflections on a successful Q4 earnings season settle in, with more good news to come in the quarters ahead. No major news reports of short-squeezers gripping hedge funds where it hurts, flashing visions of 400% gains in relatively forgotten stocks like GameStop (GME - Free Report) have been virtually nonexistent. Some Reddit trading in the pot stocks group, but nothing as severe as we saw in the past two weeks.
Questions or comments about this article and/or its author? Click here>>
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>