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Cypress Semiconductor, Allegiant, Tesla and Google highlighted as Zacks Bull and Bear of the Day
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For Immediate Release
Chicago, IL – August 3, 2018 – Zacks Equity Research highlights Cypress Semiconductor as the Bull of the Day, Allegiant Travel (ALGT - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis onTesla (TSLA - Free Report) and Google (GOOGL - Free Report) .
For much of 2018, bearish sentiment in the semiconductor industry has ratcheted up as some investors have looked to call the top on the chip space’s monumental bull cycle. Nevertheless, plenty of chip stocks look mightily attractive right now, especially those—like Cypress Semiconductor—which should be able to break through cyclical concerns by cashing in on new secular growth trends.
Cypress Semiconductor is a leading provider of high-performance digital and mixed-signal integrated circuits. It makes products designed for the automotive, industrial, home automation and appliances, consumer electronics and medical products industries.
The company has also emerged as a leader in the Internet of Things industry after shelling out $550 million for Broadcom’s IoT business in 2016. Cypress’ “WICED” IoT platform is part of one of the largest such portfolios in the industry.
This is really the first thing that makes Cypress stick out right now. Sure, the Internet of Things has been one of the key drivers of growth in the semiconductor industry recently, but the number of connected devices worldwide is still set to grow exponentially in coming years, and it does not take much optimism to think that we have only seen the tip of the trend’s iceberg so far.
Moreover, as the extent to which we can or want to connect certain things to the IoT ecosystem continues to expand, niche specialist like Cypress are able to fill a specific need for tailored products.
The airline industry has been battered by a number of headwinds this year, and with many of these contributing factors likely to continue for the time being, it is a prudent move to avoid this space—unless a particular stock offers something special. Unfortunately, that does not appear to be Allegiant Travel.
Allegiant is a low-cost airline that operates a passenger airline marketed to leisure travelers in small cities. Through its subsidiary, Allegiant Air, the company operates an all-jet airline which offers both stand-alone air travel and travel bundled with hotel rooms, rental cars and other travel-related services.
In its recent earnings report, ALGT reported earnings of $3.42 per share, which surpassed the Zacks Consensus Estimate of $3.00. The marked impressive year-over-year growth, underscoring an unquestionable demand for affordable air travel. However, Allegiant’s problems start elsewhere.
The stock has underperformed its industry this year as the company has dealt with capacity-related woes, safety-related issues, high debt levels, and rising fuel costs. In fact, average fuels costs for the full year are now expected to be $2.20 per gallon, up from previous guidance of $2.17 per gallon.
Allegiant also said that capital expenditures are now projected at $300 million, higher than the earlier predicted $290 million. Meanwhile, the company is still suffering from a 60 Minutes” report from April which alleged that Allegiant’s poor safety standard was responsible for around 100 serious mechanical incidents in the Jan. 2016 – Oct. 2017 period.
Additional content:
Uber Ditches Self-Driving Trucks: Is It the Right Move?
Uber announced this Monday that it is abandoning its self-driving truck program to focus more on its self-driving car program.
Uber’s self-driving truck program, a division of Uber’s Advanced Technologies Group, has been successful before. For example, in 2016, it completed the world’s first autonomous truck delivery of Budweiser cans and delivered freight on highways in Arizona using automated Volvo trucks.
Despite the abandonment of the self-driving truck program, Uber Freight—a smartphone app that links truck drivers to freight—will continue. The company introduced Uber Freight and bought Otto in 2016—signaling potential for autonomous trucking in the company.
Uber’s decision to bow out of the self-driving car race is a little bit surprising, though. While the autonomous car idea is very appealing, autonomous trucks tend to be more realistic, as highways are more likely to be easier to navigate than bustling streets. Not to mention that self-driving trucks can reduce freight costs while increasing margins. It seems to be a good idea for all companies.
Uber’s self-driving truck program had multiple competitors, including Tesla and Google’s Waymo. Now, with Uber out of the way, the competition got less crowded.
Uber says that it is planning on focusing more on self-driving cars instead. That decision is a bit questionable considering how the self-driving car program was suspended in March after it hit a pedestrian. Perhaps Uber is trying to amend its mistakes and invest more in the autonomous car program instead of the truck program.
Regardless of how Uber’s endeavors in the autonomous car race turn out, it is by far the biggest company when it comes to ride-hailing. Even when compared to its competitor Lyft, Uber boasts a staunch position in the industry.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Cypress Semiconductor, Allegiant, Tesla and Google highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – August 3, 2018 – Zacks Equity Research highlights Cypress Semiconductor as the Bull of the Day, Allegiant Travel (ALGT - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis onTesla (TSLA - Free Report) and Google (GOOGL - Free Report) .
Here is a synopsis of all three stocks:
Bull of the Day:
For much of 2018, bearish sentiment in the semiconductor industry has ratcheted up as some investors have looked to call the top on the chip space’s monumental bull cycle. Nevertheless, plenty of chip stocks look mightily attractive right now, especially those—like Cypress Semiconductor—which should be able to break through cyclical concerns by cashing in on new secular growth trends.
Cypress Semiconductor is a leading provider of high-performance digital and mixed-signal integrated circuits. It makes products designed for the automotive, industrial, home automation and appliances, consumer electronics and medical products industries.
The company has also emerged as a leader in the Internet of Things industry after shelling out $550 million for Broadcom’s IoT business in 2016. Cypress’ “WICED” IoT platform is part of one of the largest such portfolios in the industry.
This is really the first thing that makes Cypress stick out right now. Sure, the Internet of Things has been one of the key drivers of growth in the semiconductor industry recently, but the number of connected devices worldwide is still set to grow exponentially in coming years, and it does not take much optimism to think that we have only seen the tip of the trend’s iceberg so far.
Moreover, as the extent to which we can or want to connect certain things to the IoT ecosystem continues to expand, niche specialist like Cypress are able to fill a specific need for tailored products.
Bear of the Day:
The airline industry has been battered by a number of headwinds this year, and with many of these contributing factors likely to continue for the time being, it is a prudent move to avoid this space—unless a particular stock offers something special. Unfortunately, that does not appear to be Allegiant Travel.
Allegiant is a low-cost airline that operates a passenger airline marketed to leisure travelers in small cities. Through its subsidiary, Allegiant Air, the company operates an all-jet airline which offers both stand-alone air travel and travel bundled with hotel rooms, rental cars and other travel-related services.
In its recent earnings report, ALGT reported earnings of $3.42 per share, which surpassed the Zacks Consensus Estimate of $3.00. The marked impressive year-over-year growth, underscoring an unquestionable demand for affordable air travel. However, Allegiant’s problems start elsewhere.
The stock has underperformed its industry this year as the company has dealt with capacity-related woes, safety-related issues, high debt levels, and rising fuel costs. In fact, average fuels costs for the full year are now expected to be $2.20 per gallon, up from previous guidance of $2.17 per gallon.
Allegiant also said that capital expenditures are now projected at $300 million, higher than the earlier predicted $290 million. Meanwhile, the company is still suffering from a 60 Minutes” report from April which alleged that Allegiant’s poor safety standard was responsible for around 100 serious mechanical incidents in the Jan. 2016 – Oct. 2017 period.
Additional content:
Uber Ditches Self-Driving Trucks: Is It the Right Move?
Uber announced this Monday that it is abandoning its self-driving truck program to focus more on its self-driving car program.
Uber’s self-driving truck program, a division of Uber’s Advanced Technologies Group, has been successful before. For example, in 2016, it completed the world’s first autonomous truck delivery of Budweiser cans and delivered freight on highways in Arizona using automated Volvo trucks.
Despite the abandonment of the self-driving truck program, Uber Freight—a smartphone app that links truck drivers to freight—will continue. The company introduced Uber Freight and bought Otto in 2016—signaling potential for autonomous trucking in the company.
Uber’s decision to bow out of the self-driving car race is a little bit surprising, though. While the autonomous car idea is very appealing, autonomous trucks tend to be more realistic, as highways are more likely to be easier to navigate than bustling streets. Not to mention that self-driving trucks can reduce freight costs while increasing margins. It seems to be a good idea for all companies.
Uber’s self-driving truck program had multiple competitors, including Tesla and Google’s Waymo. Now, with Uber out of the way, the competition got less crowded.
Uber says that it is planning on focusing more on self-driving cars instead. That decision is a bit questionable considering how the self-driving car program was suspended in March after it hit a pedestrian. Perhaps Uber is trying to amend its mistakes and invest more in the autonomous car program instead of the truck program.
Regardless of how Uber’s endeavors in the autonomous car race turn out, it is by far the biggest company when it comes to ride-hailing. Even when compared to its competitor Lyft, Uber boasts a staunch position in the industry.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>
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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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.