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Ichor Holdings, Encore Wire, Tesla and Facebook highlighted as Zacks Bull and Bear of the Day
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For Immediate Release
Chicago, IL – November 2, 2017 – Zacks Equity Research highlights Ichor Holdings (ICHR - Free Report) as the Bull of the Day and Encore Wire Corp (WIRE - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Tesla Inc. (TSLA - Free Report) and Facebook .
Ichor Holdings is a Zacks Rank #2 (Buy) and is the Bull of the Day. This article is written the day before it is published on the site and I thought I would lead off with a picture of how the stock is performing as I write this article.
There was clearly a big seller unwinding a position, and then an all at once "get me out" style trade with a large stick representing volume on the bottom of the chart on November 1. This pushed the stock down below $28, but this "get me out" style trade was present in several other semiconductor capital equipment stocks.
Description
Ichor Holdings makes fluid delivery subsystems for semiconductor capital equipment in the United States, the United Kingdom, Singapore and Malaysia. Ichor Holdings was founded in 1999 and is headquartered in Fremont, California.
Earnings History
The company has only reported 3 times, and in that short time span there has been a beat, a miss and a meet.
Estimate Revisions
If you like investing with the trend and are concerned with the fundamentals, then this is the stock for you. Estimates for this quarter, next quarter, this year and next year are all moving higher. When we have a sell off like we did yesterday, and have estimates moving higher, then the valuation is only getting better.
Encore Wire Corp posted a blowout quarter on 10/31/17 by beating the Zacks Consensus Estimate by $0.39 for a 139% positive earnings surprise. Prior to that report, the stock was a Zacks Rank #5 (Strong Sell), and the purpose of this article is to show why it had that ranking.
Description
Encore Wire Corporation is a low-cost manufacturer of copper electrical building wire and cable. The company is a significant supplier of both residential wire for interior electrical wiring in homes, apartments and manufactured housing, as well as building wire for electrical distribution in commercial and industrial buildings.
Estimate Revisions
The single largest factor that influences the Zacks Rank is the consensus of all the analysts that submit estimates to Zacks. This means brokerages of all sizes that publish reports on stocks are counted in this average, and when the consensus is falling, the stock’s Zacks Rank slides, as well.
Estimates for this year and next had been shrinking. That is not what investors want to see.
The fact that the company posted a big beat just speaks to the fact that analysts are having a difficult time projecting earnings for this stock.
Additional content:
Tesla Posts Q3 Miss, Shares Drop; Facebook Beats
After the closing bell today, Tesla Inc. reported a bottom-line miss on better-than-expected quarterly sales. The -$2.92 per share was a bigger loss than the -$2.45 in the Zacks consensus, whereas revenues of $2.98 billion in the quarter surpassed our expected $2.92 billion. Shares immediately sank 5% on the news, putting Tesla shares in the red year to date.
The company's main challenges of late have had to do with the ramping up of its more-affordable Model 3 sedan, which posted a disappointing 222 deliveries in Q3. By now, the plan was to have 1500 or more Model 3s produced per month. In Tesla's letter to shareholders, the company explains the primary bottleneck in production being an issue with the battery module assembly line at Gigafactory 1 in Sparks, Nevada, which has required a redesign.
Tesla still expects a big ramp-up in Model 3 production, however: 5000 cars per week are expected by the end of Q1 2018. Earlier, an even-more ambitious 10K/week production line was expected for some time in the following year.
Model S and X deliveries rose 18% year over year, and including the as-yet paltry output from Model 3, produced north of 26K autos overall in the quarter. Elsewhere, the company looks to make its Solar Roof products a bigger part of the overall Tesla business in 2018, and appears pleased about its Gigafactory 2 ramp-up in Buffalo, NY.
Today marks the third loss in the last four quarters for Tesla. Investors clearly are anticipating big things in the future, but the stock also holds a bevy of short positions, with perhaps more to come following this latest earnings miss. That said, Tesla shares are still up over 50% in the past year, and more than 1500% since the company's IPO in 2010.
Facebook Beats, Laments Foreign Influence
Facebook beat earnings on its top and bottom lines after the closing bell, putting up $1.59 per share on $10.33 billion in sales. Its impressive revenue acceleration resulted in 47% year over year growth and 2.07 billion monthly active users. CEO Mark Zuckerberg, in the wake of his company's recent testimony on Capitol Hill whereby Russian influence reportedly affected the 2016 presidential election, suggested profits from future quarters were going to take a hit on security concerns, saying, "Protecting the community is more important than maximizing profitability."
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Ichor Holdings, Encore Wire, Tesla and Facebook highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – November 2, 2017 – Zacks Equity Research highlights Ichor Holdings (ICHR - Free Report) as the Bull of the Day and Encore Wire Corp (WIRE - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Tesla Inc. (TSLA - Free Report) and Facebook .
Here is a synopsis of all four stocks:
Bull of the Day:
Ichor Holdings is a Zacks Rank #2 (Buy) and is the Bull of the Day. This article is written the day before it is published on the site and I thought I would lead off with a picture of how the stock is performing as I write this article.
There was clearly a big seller unwinding a position, and then an all at once "get me out" style trade with a large stick representing volume on the bottom of the chart on November 1. This pushed the stock down below $28, but this "get me out" style trade was present in several other semiconductor capital equipment stocks.
Description
Ichor Holdings makes fluid delivery subsystems for semiconductor capital equipment in the United States, the United Kingdom, Singapore and Malaysia. Ichor Holdings was founded in 1999 and is headquartered in Fremont, California.
Earnings History
The company has only reported 3 times, and in that short time span there has been a beat, a miss and a meet.
Estimate Revisions
If you like investing with the trend and are concerned with the fundamentals, then this is the stock for you. Estimates for this quarter, next quarter, this year and next year are all moving higher. When we have a sell off like we did yesterday, and have estimates moving higher, then the valuation is only getting better.
Bear of the Day:
Encore Wire Corp posted a blowout quarter on 10/31/17 by beating the Zacks Consensus Estimate by $0.39 for a 139% positive earnings surprise. Prior to that report, the stock was a Zacks Rank #5 (Strong Sell), and the purpose of this article is to show why it had that ranking.
Description
Encore Wire Corporation is a low-cost manufacturer of copper electrical building wire and cable. The company is a significant supplier of both residential wire for interior electrical wiring in homes, apartments and manufactured housing, as well as building wire for electrical distribution in commercial and industrial buildings.
Estimate Revisions
The single largest factor that influences the Zacks Rank is the consensus of all the analysts that submit estimates to Zacks. This means brokerages of all sizes that publish reports on stocks are counted in this average, and when the consensus is falling, the stock’s Zacks Rank slides, as well.
Estimates for this year and next had been shrinking. That is not what investors want to see.
The fact that the company posted a big beat just speaks to the fact that analysts are having a difficult time projecting earnings for this stock.
Additional content:
Tesla Posts Q3 Miss, Shares Drop; Facebook Beats
After the closing bell today, Tesla Inc. reported a bottom-line miss on better-than-expected quarterly sales. The -$2.92 per share was a bigger loss than the -$2.45 in the Zacks consensus, whereas revenues of $2.98 billion in the quarter surpassed our expected $2.92 billion. Shares immediately sank 5% on the news, putting Tesla shares in the red year to date.
The company's main challenges of late have had to do with the ramping up of its more-affordable Model 3 sedan, which posted a disappointing 222 deliveries in Q3. By now, the plan was to have 1500 or more Model 3s produced per month. In Tesla's letter to shareholders, the company explains the primary bottleneck in production being an issue with the battery module assembly line at Gigafactory 1 in Sparks, Nevada, which has required a redesign.
Tesla still expects a big ramp-up in Model 3 production, however: 5000 cars per week are expected by the end of Q1 2018. Earlier, an even-more ambitious 10K/week production line was expected for some time in the following year.
Model S and X deliveries rose 18% year over year, and including the as-yet paltry output from Model 3, produced north of 26K autos overall in the quarter. Elsewhere, the company looks to make its Solar Roof products a bigger part of the overall Tesla business in 2018, and appears pleased about its Gigafactory 2 ramp-up in Buffalo, NY.
Today marks the third loss in the last four quarters for Tesla. Investors clearly are anticipating big things in the future, but the stock also holds a bevy of short positions, with perhaps more to come following this latest earnings miss. That said, Tesla shares are still up over 50% in the past year, and more than 1500% since the company's IPO in 2010.
Facebook Beats, Laments Foreign Influence
Facebook beat earnings on its top and bottom lines after the closing bell, putting up $1.59 per share on $10.33 billion in sales. Its impressive revenue acceleration resulted in 47% year over year growth and 2.07 billion monthly active users. CEO Mark Zuckerberg, in the wake of his company's recent testimony on Capitol Hill whereby Russian influence reportedly affected the 2016 presidential election, suggested profits from future quarters were going to take a hit on security concerns, saying, "Protecting the community is more important than maximizing profitability."
Shares are barely up 1% in late trading following the stellar Q3 earnings results. For more on Facebook's earnings results, click here.
For new results on Restaurant stock earnings, click here.
For more results on Tech earnings, click here.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>
About the Bull and Bear of the Day
Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
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support@zacks.com
http://www.zacks.com
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.