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Owens Corning, Buenaventura, PayPal, JPMorgan and Intel highlighted as Zacks Bull and Bear of the Day
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For Immediate Release
Chicago, IL – August 25, 2021 – Zacks Equity Research Shares of Owens Corning (OC - Free Report) as the Bull of the Day, Compania de Minas Buenaventura S.A.A. (BVN - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on PayPal Holdings, Inc. (PYPL - Free Report) , JPMorgan Chase & Co. (JPM - Free Report) and Intel Corporation (INTC - Free Report) .
Today's Bull of the Day is a stock that has seen recent earnings estimates from analysts coming in positively. That's what most people don't get about Zacks. We don't create our own ratings. Rather, we take into account what analysts around the globe are doing. By analyzing what the analysts around Wall Street are doing, we gain an advantage. If the overall trend in estimates is increasingly bullish, then we put that stock in the good graces of the Zacks Rank. If it's not, then it falls onto the other side of the equation. Either way, it's not about how Zacks feels, it's about what's happening on the street.
Today's Bull of the Day is Owens Corning. Owens Corning manufactures and markets a range of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing.
Owens is a Zacks Rank #1 (Strong Buy) with a Zacks Value Style Score of A, Growth of B, and Momentum of C to help it round out with a VGM Composite Score of A. While the Building Products – Miscellaneous industry is in the Bottom 32% of our Zacks Industry Rank, Owens is in the good graces of our Zacks Rank.
The reason for the favorable rank is that over the last 30 days, four analysts have increased their earnings estimates for the current year and next year. The bullish sentiment has pushed up our Zacks Consensus Estimate for the current year from $8.04 to $8.76 while next year's number is up from $8.70 to $9.31.
At the surface, you would think that any stock related to commodities should be doing well. There is a weak dollar, the media has been pounding the table on inflation, and we all know that purchasing power has come down. But the market is forever forward-looking. That means that today's reality could be just a flash in a pan. What's reality today can be forgotten tomorrow. Nobody knows that more than analysts. They are continually keeping their eyes on the prize, looking forward to what the next major trend might buy.
On the flipside of that coin, these analysts can sometimes tell when a trend will end. So when you see earnings estimates move in the wrong direction, to the downside, you should take heed. Today's Bear of the Day is a stock that is seeing estimates move in the wrong direction. I'm talking about Zacks Rank #5 (Strong Sell) Buenaventura Mining. The company is a precious metals company that engages in the exploration, mining, concentration, smelting, and marketing of polymetallic ores and metals in Peru, the United States, Europe, and Asia. It explores for gold, silver, lead, zinc, and copper metals. The company operates four operating mining units, including Uchucchacua, Orcopampa, Julcani, and Tambomayo in Peru; and San Gabriel, a mining unit under development. It also owns interests in Colquijirca, La Zanja, Yanacocha, Cerro Verde, El Brocal, Coimolache, Yumpaq, and San Gregorio mines, as well as Trapiche, a mining unit at the development stage. In addition, the company produces manganese sulphate, which is used in agriculture and mining industries. Further, it provides energy generation and transmission services through hydroelectric power plants; chemical processing services; insurance brokerage services; and industrial activities.
The reason for the unfavorable rank stems from negative earnings estimate revisions coming from analysts. Over the last sixty days, analysts have been cutting estimates for the current year and next year. The negative revisions have dropped the current year Zacks Consensus Estimate from 91 cents to 84 cents while next year is off from 79 cents to 76 cents. The company has also missed earnings by an average of 13 cents per quarter for the last four quarters.
The Mining – Silver industry ranks in the Bottom 3% of our Zacks Industry Rank. Currently, there are no companies in this industry which are in the good graces of our Zacks Rank.
Additional content:
3 Stocks to Make the Most of Bitcoin's Bullish Trajectory
In the past month, bitcoin has made a terrific comeback, especially after a brutal selloff in the month of May after China escalated its regulations on cryptocurrency trading. In fact, the price of bitcoin rose past the coveted $50,000 on Aug 23 for the first time since mid-May.
Even though the world's biggest digital coin eventually finished yesterday's trading session at $49,201, it had still climbed a whopping 82% from its yearly low of $27,700 in January, as mentioned in a yahoofinance article.
Bitcoin price was actually hovering between $30,000 and $40,000 in recent times but now the virtual currency has started to advance as mainstream financial services firms began to show interest in the world's largest cryptocurrency.
First, online payment behemoth PayPal Holdings recently mentioned that it is launching a cryptocurrency service in the U.K. In reality, the company will now allow British customers to buy, hold and sell cryptocurrencies beginning this week. The company has already allowed American customers to do the same early this year. Notably, for the first time, PayPal has launched its cryptocurrency services outside the United States.
The online payment giant, no doubt, has taken a bold decision to venture into the highly unregulated world of cryptocurrencies, which is currently marred with price volatility as well as consumer protection issues. Similarly, other major companies like Tesla, Facebook and Mastercard, to name a few, have shown keen interest in the world of cryptocurrencies lately.
Nonetheless, the second reason behind the sharp rise in bitcoin price is due to Coinbase Global Inc's latest announcement. The cryptocurrency exchange platform stated that the company will buy $500 million in crypto on its balance sheet, citing a news18 article. The company further added that it will assign 10% of their quarterly profit into a crypto asset portfolio, per the news18 article.
By the way, bitcoin's price had already received a boost from the e-commerce giant Amazon last month. There was speculation that Amazon may start to accept bitcoin for payment purposes by the end of this year.
Moreover, Amazon had posted a job offer for a blockchain product lead, sending the price of bitcoin up. This is because investors started to believe that the tech companies in the future may show interest in cryptocurrencies and that may lead to legitimizing the digital currency segment.
Last month, the bitcoin price also received a boost from Twitter and Tesla chief executive officers Jack Dorsey and Elon Musk, respectively, after they revealed their plan to incorporate digital currencies into their businesses. Elon Musk, in fact, had disclosed that he does own some cryptocurrencies, including bitcoin. Additionally, Ark Investment Management LLC's Cathie Wood too said that corporations should add bitcoin to their balance sheets.
Separately, Katie Stockton, managing partner at Fairlead Strategies, some time back had said that bitcoin was in a "coiled spring" formation in technical charts, which indicated that its price levels will increase in the near term, as mentioned in a Barron's article.
Thus, with the price of bitcoin scaling northward, it's prudent for investors to focus on stocks that can make the most of bitcoin's bullish trend and the blockchain technology that supports it. We have, thus, highlighted three such stocks that deserve your attention at present.
JPMorgan Chase is one of the biggest global banks with assets valued at $3.68 trillion and stockholders' equity worth $286.4 billion, as of Jun 30, 2021. JP Morgan has successfully designed JPM Coin with the help of blockchain technology, which is in reality a digital coin to make payments promptly.
The company currently has a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for its current-year earnings has moved up 5.3% over the past 60 days. The company's expected earnings growth rate for the current year is 58.2%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Intel is the world's largest semiconductor company and primary supplier of microprocessors and chipsets. Intel, in order to help in blockchain transactions as well as AI applications, has designed Software Guard Extensions (SGX).
The company currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 3.7% over the past 60 days. The company's expected earnings growth rate for the next five-year period is 7.5%.
PayPal has emerged as one of the largest online payment solution providers on the back of its strong product portfolio and two-sided platform. As mentioned above, PayPal has allowed its customers in the United States as well as abroad to make payments with the help of virtual currency, including bitcoin.
The company currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 0.2% over the past 90 days. The company's expected earnings growth rate for the current year is 21.9%.
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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Owens Corning, Buenaventura, PayPal, JPMorgan and Intel highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – August 25, 2021 – Zacks Equity Research Shares of Owens Corning (OC - Free Report) as the Bull of the Day, Compania de Minas Buenaventura S.A.A. (BVN - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on PayPal Holdings, Inc. (PYPL - Free Report) , JPMorgan Chase & Co. (JPM - Free Report) and Intel Corporation (INTC - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
Today's Bull of the Day is a stock that has seen recent earnings estimates from analysts coming in positively. That's what most people don't get about Zacks. We don't create our own ratings. Rather, we take into account what analysts around the globe are doing. By analyzing what the analysts around Wall Street are doing, we gain an advantage. If the overall trend in estimates is increasingly bullish, then we put that stock in the good graces of the Zacks Rank. If it's not, then it falls onto the other side of the equation. Either way, it's not about how Zacks feels, it's about what's happening on the street.
Today's Bull of the Day is Owens Corning. Owens Corning manufactures and markets a range of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing.
Owens is a Zacks Rank #1 (Strong Buy) with a Zacks Value Style Score of A, Growth of B, and Momentum of C to help it round out with a VGM Composite Score of A. While the Building Products – Miscellaneous industry is in the Bottom 32% of our Zacks Industry Rank, Owens is in the good graces of our Zacks Rank.
The reason for the favorable rank is that over the last 30 days, four analysts have increased their earnings estimates for the current year and next year. The bullish sentiment has pushed up our Zacks Consensus Estimate for the current year from $8.04 to $8.76 while next year's number is up from $8.70 to $9.31.
Bear of the Day:
At the surface, you would think that any stock related to commodities should be doing well. There is a weak dollar, the media has been pounding the table on inflation, and we all know that purchasing power has come down. But the market is forever forward-looking. That means that today's reality could be just a flash in a pan. What's reality today can be forgotten tomorrow. Nobody knows that more than analysts. They are continually keeping their eyes on the prize, looking forward to what the next major trend might buy.
On the flipside of that coin, these analysts can sometimes tell when a trend will end. So when you see earnings estimates move in the wrong direction, to the downside, you should take heed. Today's Bear of the Day is a stock that is seeing estimates move in the wrong direction. I'm talking about Zacks Rank #5 (Strong Sell) Buenaventura Mining. The company is a precious metals company that engages in the exploration, mining, concentration, smelting, and marketing of polymetallic ores and metals in Peru, the United States, Europe, and Asia. It explores for gold, silver, lead, zinc, and copper metals. The company operates four operating mining units, including Uchucchacua, Orcopampa, Julcani, and Tambomayo in Peru; and San Gabriel, a mining unit under development. It also owns interests in Colquijirca, La Zanja, Yanacocha, Cerro Verde, El Brocal, Coimolache, Yumpaq, and San Gregorio mines, as well as Trapiche, a mining unit at the development stage. In addition, the company produces manganese sulphate, which is used in agriculture and mining industries. Further, it provides energy generation and transmission services through hydroelectric power plants; chemical processing services; insurance brokerage services; and industrial activities.
The reason for the unfavorable rank stems from negative earnings estimate revisions coming from analysts. Over the last sixty days, analysts have been cutting estimates for the current year and next year. The negative revisions have dropped the current year Zacks Consensus Estimate from 91 cents to 84 cents while next year is off from 79 cents to 76 cents. The company has also missed earnings by an average of 13 cents per quarter for the last four quarters.
The Mining – Silver industry ranks in the Bottom 3% of our Zacks Industry Rank. Currently, there are no companies in this industry which are in the good graces of our Zacks Rank.
Additional content:
3 Stocks to Make the Most of Bitcoin's Bullish Trajectory
In the past month, bitcoin has made a terrific comeback, especially after a brutal selloff in the month of May after China escalated its regulations on cryptocurrency trading. In fact, the price of bitcoin rose past the coveted $50,000 on Aug 23 for the first time since mid-May.
Even though the world's biggest digital coin eventually finished yesterday's trading session at $49,201, it had still climbed a whopping 82% from its yearly low of $27,700 in January, as mentioned in a yahoofinance article.
Bitcoin price was actually hovering between $30,000 and $40,000 in recent times but now the virtual currency has started to advance as mainstream financial services firms began to show interest in the world's largest cryptocurrency.
First, online payment behemoth PayPal Holdings recently mentioned that it is launching a cryptocurrency service in the U.K. In reality, the company will now allow British customers to buy, hold and sell cryptocurrencies beginning this week. The company has already allowed American customers to do the same early this year. Notably, for the first time, PayPal has launched its cryptocurrency services outside the United States.
The online payment giant, no doubt, has taken a bold decision to venture into the highly unregulated world of cryptocurrencies, which is currently marred with price volatility as well as consumer protection issues. Similarly, other major companies like Tesla, Facebook and Mastercard, to name a few, have shown keen interest in the world of cryptocurrencies lately.
Nonetheless, the second reason behind the sharp rise in bitcoin price is due to Coinbase Global Inc's latest announcement. The cryptocurrency exchange platform stated that the company will buy $500 million in crypto on its balance sheet, citing a news18 article. The company further added that it will assign 10% of their quarterly profit into a crypto asset portfolio, per the news18 article.
By the way, bitcoin's price had already received a boost from the e-commerce giant Amazon last month. There was speculation that Amazon may start to accept bitcoin for payment purposes by the end of this year.
Moreover, Amazon had posted a job offer for a blockchain product lead, sending the price of bitcoin up. This is because investors started to believe that the tech companies in the future may show interest in cryptocurrencies and that may lead to legitimizing the digital currency segment.
Last month, the bitcoin price also received a boost from Twitter and Tesla chief executive officers Jack Dorsey and Elon Musk, respectively, after they revealed their plan to incorporate digital currencies into their businesses. Elon Musk, in fact, had disclosed that he does own some cryptocurrencies, including bitcoin. Additionally, Ark Investment Management LLC's Cathie Wood too said that corporations should add bitcoin to their balance sheets.
Separately, Katie Stockton, managing partner at Fairlead Strategies, some time back had said that bitcoin was in a "coiled spring" formation in technical charts, which indicated that its price levels will increase in the near term, as mentioned in a Barron's article.
Thus, with the price of bitcoin scaling northward, it's prudent for investors to focus on stocks that can make the most of bitcoin's bullish trend and the blockchain technology that supports it. We have, thus, highlighted three such stocks that deserve your attention at present.
JPMorgan Chase is one of the biggest global banks with assets valued at $3.68 trillion and stockholders' equity worth $286.4 billion, as of Jun 30, 2021. JP Morgan has successfully designed JPM Coin with the help of blockchain technology, which is in reality a digital coin to make payments promptly.
The company currently has a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for its current-year earnings has moved up 5.3% over the past 60 days. The company's expected earnings growth rate for the current year is 58.2%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Intel is the world's largest semiconductor company and primary supplier of microprocessors and chipsets. Intel, in order to help in blockchain transactions as well as AI applications, has designed Software Guard Extensions (SGX).
The company currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 3.7% over the past 60 days. The company's expected earnings growth rate for the next five-year period is 7.5%.
PayPal has emerged as one of the largest online payment solution providers on the back of its strong product portfolio and two-sided platform. As mentioned above, PayPal has allowed its customers in the United States as well as abroad to make payments with the help of virtual currency, including bitcoin.
The company currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 0.2% over the past 90 days. The company's expected earnings growth rate for the current year is 21.9%.
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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.