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The Zacks Analyst Blog Highlights: Twitter, Advanced Micro Devices and BlackBerry

Asbury Automotive (ABG) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

For Immediate Release

Chicago, IL – November 10, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Twitter, Inc. TWTR, Advanced Micro Devices AMD and BlackBerry Limited BB.

Here are highlights from Thursday’s Analyst Blog:

3 Tech Stocks that Crushed Earnings This Season

It’s been a great Q3 earnings season throughout Wall Street, and we’ve seen tech stocks—the market’s chosen darlings of 2017—dominate the headlines as marquee company after marquee company has posted solid results.

One thing investors are always looking for during reporting season is a plethora of earnings beats. Strong growth and positive consumer trends are always great, but investors want to see companies exceed expectations and post surprises.

So far this earnings season, about 73% of S&P 500 companies have surpassed earnings estimates, while 67% have beaten revenue estimates. Not surprisingly, the red-hot tech sector has contributed several of these positive surprises, and a few notable companies have emerged as significant over-performers.

Today, we’ve decided to highlight a few of these great tech earnings reports. Check out these three tech stocks that recently crushed earnings estimates:

1.  Twitter, Inc.

After struggling to generate much positive momentum for years, Twitter is finally starting to show signs of a full-fledged turnaround. The social media company recently reported earnings of 10 cents per share, comfortably beating our consensus estimate of 6 cents. Management noted that its investments in livestreaming and original content are starting to pay off, and investors seem to be responding appropriately. Twitter shares have gained more than 15% since its earnings announcement. The stock is currently a Zacks Rank #2 (Buy).

2.  Advanced Micro Devices 

2017 has been the year of the tech stock, but more specifically, it’s been the year of the trendy chipmaker. One of the most noteworthy of this bunch is, of course, AMD. The oft-unpredictable stock has gained just 3% this year, but a strong earnings report, coupled with an encouraging outlook, has helped earn it a Zacks Rank #2 (Buy). In its latest quarter, AMD reported earnings of 10 cents per share, beating our consensus estimate of 8 cents and soaring more than 230% year-over-year.

3.  BlackBerry Limited 

In a year that has seen the Backstreet Boys embark on a nationwide tour, the once-iconic mobile phone brand BlackBerry has also been declared “back.” Brothers, sisters, everybody sing: BlackBerry is relevant again. The company has ditched its phone manufacturing business and shifted towards a software-first focus, and things are finally starting to pick back up again. In its most recent quarter, this Zacks Rank #2 (Buy) posted a surprise profit of 5 cents per share, crushing our consensus estimate that called for a loss of a penny. BlackBerry shares are now up over 55% year-to-date.

Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

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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/performancefor information about the performance numbers displayed in this press release.


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