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DOW UPDATE The Dow Jones Industrial Average is slumping Friday afternoon with shares of Apple Inc. and Intel facing the biggest losses for the index. The Dow (DJIA) was most recently trading 582 points (2.
Long-time HP veteran Enrique Lores, who runs the $20 billion printer business, is succeeding Dion Weisler effective Nov. 1. Weisler, who was named CEO in late 2014 after the computing behemoth was split into two companies, is leaving for a “family health matter.”
The Dow Jones fell for a fourth week as the China trade war escalates, despite a dovish Fed chief Powell. Target, Home Depot, Salesforce rose on earnings.
HP announced a trifecta of jolting news during its third-quarter earnings statement Thursday: It named a new CEO, reported a significant slide in printer supply sales, and offered tepid guidance for its current quarter amid economic uncertainty.
As bond yields slip, we searched using the Zacks Stock Screener for large-cap technology firms that also pay a dividend. Here are 3 of the strong tech stocks that came through our screen this morning...
(Bloomberg) -- Semiconductor companies and Apple Inc. fell sharply on Friday, as the trade war between the U.S. and China continued to escalate.China’s Ministry of Finance said the country plans to levy retaliatory tariffs on another $75 billion of U.S. goods, pressuring the securities in pre-market trading. Their losses were extended following the open, after President Donald Trump subsequently said that he would announce his response Friday afternoon.Apple fell as much as 3.9%. The iPhone maker is heavily correlated to trade issues because China is both a major part of its supply chain and a notable market for its products. The company derived nearly 20% of its 2018 revenue from China, according to data compiled by Bloomberg.Chipmakers have been similarly volatile because of the trade war. The Philadelphia Semiconductor Index dropped 3.6% on Friday, and every member of the benchmark industry index was in negative territory.Among notable decliners, Qualcomm Inc. lost 3.3% while Nvidia Corp. was off 5% and Micron Technology shed 3.5%. Broadcom Inc. was down 4.9% and ON Semiconductor Corp. lost 5.4%.Technology stocks were the weakest-performing sector on Friday, with the S&P 500 information technology index down 2.4%. The S&P 500 overall fell 1.4%.(Adds Trump’s response in second paragraph, updates prices to market open)To contact the reporter on this story: Ryan Vlastelica in New York at email@example.comTo contact the editor responsible for this story: Catherine Larkin at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
When you first start learning how to read stock charts, it can be a little intimidating. But you can quickly get up to speed with this new series on Chart Reading For Beginners.
President Donald Trump said on Friday he was ordering U.S. companies to look at ways to close their operations in China and make more of their products in the United States instead, sending U.S. markets down sharply in a new rhetorical strike at Beijing as trade tensions mounted. Trump cannot legally compel U.S. companies to abandon China immediately.
HP's (HPQ) third-quarter fiscal 2019 results gain from strong growth in Personal Systems revenues. However, weakness in the Printing business remains an overhang.
On August 22, NVIDIA stock closed at $171.48, which was 0.15% higher than its previous closing price and 41.4% lower than its 52-week high of $292.76.
Semiconductor and technology giant Nvidia (NASDAQ:NVDA) has suffered misfortune due to timing issues over the past year or so. In October of last year, the Nvidia stock price disproportionately suffered from the broader market selloff. Then, after going on a convincing recovery rally in the first four months of this year, NVDA fell short.Source: Hairem / Shutterstock.com Part of the reason why is that Advanced Micro Devices (NASDAQ:AMD) started to assert itself fundamentally. Long seen as the smaller sibling in the semiconductor space, AMD has churned out some impressive products. Moreover, they have either matched or exceeded the performance stats of the alpha dog chips.On top of that, we have the escalation of the U.S.-China trade war. Of course, China represents a massive revenue stream for NVDA. For example, earlier this year, management guided down top-line sales expectations due to weak demand from the world's second-biggest economy. With the recent flare-up, the Nvidia stock price has been awfully choppy.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat said, the embattled company released information that should give some hope to stakeholders of Nvidia stock. NVDA Delivers Processing FirepowerArguably, the Nvidia rivalry with AMD isn't as comprehensive as the one AMD has with Intel (NASDAQ:INTC). Nevertheless, where the former pairing has butted heads is in the gaming arena. * 10 Marijuana Stocks That Could See 100% Gains, If Not More As I alluded to earlier, Advanced Micro has made huge strides in their processor offerings. And within the lucrative video game market, AMD's processors have specialized in image sharpening and input lag reduction. The latter involves the time when a player makes an action through the controller, and the response time within a game.Obviously, the shorter the time between input and response, the better. Now, NVDA is claiming that they achieve superior specs with their processor's anti-lag system.In nominal terms, we're talking milliseconds of time save, hardly what you would think is a substantive improvement. Also, it seems like a pretty wonky argument for Nvidia stock.However, video games are big business. And given worldwide trends, industry phenomena like esports will become an even bigger business. Already, we're seeing major sponsorship deals in gaming tournaments. Further, celebrities and pro-athletes have joined in on the fun, bringing in both eyeballs and dollars.Thus, those milliseconds are huge for NVDA. Literally, a gaming tournament can be won or lost on such tiny margins. As ridiculous as it may seem to non-gamers, even a small edge can eventually translate to massive revenue.Granted, we should take anything NVDA says about its own products with a huge grain of salt. However, this time, they might have a point.As our own Will Healy noted about some of AMD's latest processors, they may not work as well as advertised. In fact, several users have complained on message boards and forums that Advanced Micro's Ryzen 3000 doesn't clock in the manufacturer's promised performance stats. Granularity More Critical than Ever for Nvidia StockFor many folks, this might sound like a lot of nerd-speak. Ordinarily, I'd agree with you. However, this processor-performance granularity has significant implications for the Nvidia stock price due to the present context.With the trade war raging, all companies - especially tech firms - are seeking ways to survive a coming downturn. What benefits NVDA stock at this juncture is that video games should turn out to be a fairly recession-resistant industry.Back during the Great Recession, the box office fared very well. Why? Simply put, Hollywood blockbusters offered escapism for a relatively low price. And back in the 1930s during the low days of the Great Depression, movies also brought smiles for cheap.I will argue that the only thing that changed today is the platform. Thus, it's important for Nvidia to assume leadership in this segment. After all, it might turn out to be one of the few areas that we'll see legitimate growth. Enough to Gamble on Nvidia?But is gaming alone enough to take a speculative bite on NVDA stock? Probably not. Instead, what investors should focus on is the cumulative argument.Essentially, Nvidia had to muscle its way into AMD's gaming space because that's where this rivalry is most robust. But in other areas, such as driverless-vehicle technologies or artificial intelligence, Nvidia imposes a more dominant presence.Plus, let's just address the low-hanging fruit. The enterprise value for Nvidia stock is $98.5 billion. For AMD, it's under $35 billion. Thus, push comes to shove, Nvidia simply has more resources to buffer a downturn or recession.Certainly, it's not a comfortable investment given the trade war risks. However, if you're going to bet on a semiconductor, NVDA is it.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks That Could See 100% Gains, If Not More * 11 Stocks Under $10 to Buy Now * 6 China Stocks to Buy on the Dip The post Hereas Why a Gamble on Nvidia Stock Might Pay Off appeared first on InvestorPlace.
U.S. stocks fell on Friday after China threatened to impose additional tariffs on $75 billion worth of U.S. goods, ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell. China's latest tariffs, which follow U.S. duties on $300 billion worth of Chinese goods, threaten to prolong an ongoing trade war between the world's top two economies that has raised concerns about slowing global growth. China's commerce ministry said it would impose additional tariffs on thousands of U.S. products, including agricultural products, crude oil, small aircraft and cars.
Let's see if CNH Industrial N.V. (CNHI) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.
A vast majority of employees queried at Cisco Systems and several other big Silicon Valley tech employers say they've noticed cost-cutting at work.
Nvidia Corp (NASDAQ:NVDA) the giant $91 billion market cap gaming chip maker, reported second-quarter earnings that signal the importance of artificial intelligence (AI) for its future. Its latest results show AI is leading its turnaround.Source: michelmond / Shutterstock.com NVDA's new gaming RTX chips use AI to simulate light (called "ray tracing"). Its hyperscale data center clients are increasingly buying Nvidia chips to enable their AI conversation and training bots. Nvidia is also leading in the autonomous vehicle market which need AI chips.The Q2 earnings which Nvidia reported on Aug. 15 showed a marked turnaround. On the follow-up call, NVDA's CEO highlighted the how AI is powering Nvidia's growth in these markets.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNVDA reported Q2 sales of $2,579 million, down 17.4% from the prior year, but up 16.1% from $2.22 billion reported in Q1 2019. NVDA's Q3 sales guidance was $2.9 billion, plus or minus 2%. * 10 Stocks to Own Through a Global Recession NVDA is now back on a growth path. Three months ago Nvidia stock was trading for $169 per share when it reported Q1 earnings. Today the Nvidia stock price is trading for $156.83 after hours. The market is starting to believe in the turnaround.Downturn EndedNvidia sources most of its manufacturing in Taiwan. So it is not directly affected by Chinese chip suppliers, the China yuan devaluation, and the U.S. China trade war. However, it is facing competition from Chinese data centers which buy chips elsewhere.In May Nvidia's CEO, Jensen Huang, told CNBC that "there was no question in my mind that the spending pause has ended" in their portion of the chip market. NVDA's figures today clearly showed this improvement.Gross MarginsAnalysts focus on Nvidia's gross margins as a bellwether of its financial health. In Q1 NVDA reported lows of 59.0%, and this quarter it hit 60.5%, both on a non-GAAP basis. NVDA's outlook for Q3 is for 62 to 62.5%, plus or minus 0.50%. Take a look at this chart taken from the Nvidia CFO's Commentary on Aug. 15, 2019:The reason this is important can be seen using the guidance for Q3. With sales at $2.9 billion next quarter, $765 million in operating expenses and $25 million in other income, with a tax rate of 10%, the estimated earnings per share next quarter will be $1.59, up 28.5% on the quarter: Bargain at This PriceOn an annualized run rate basis for the next 12 months full year earnings will be $6.37 per share. The earnings are also likely to incrementally increase 10 to 15% for each quarter as the turnaround grows each quarter. That implies a 12 month forward EPS of $7.40 to $7.96. At this price the implied price-to-earnings ratio is between 20 and 21x.Analysts covered by Yahoo! Finance have the stock trading at a forward P/E ratio of 20x, so this is in line with those analysts. At this price, the stock looks like a reasonable bargain. Nvidia Is Full of CashNVDA has $8.475 billion in cash, no debt and is free cash flow positive. Its latest Q2 filings showed that free cash flow was $823 million for the quarter, and this represented 89% of its net income of $923 million. I estimated that NVDA will have accumulated $10.7 billion in cash by the end of the year. NVDA has suspended its share buybacks until then.NVDA agreed to buy Mellanox Technologies (NASDAQ:MLNX) for $6.9 billion in cash, including debt. This should close by year end 2019. I estimate that NVDA will still have over $3.8 billion left over after the deal closes. NVDA plans to then restart buybacks. Bottom Line on Nvidia StockNvidia's business is now showing clear signs of a turnaround. Demand for its AI chips in gaming and data centers is rising. It is generating free cash flow each quarter, and will be accumulating cash up to year-end when it buys Mellanox. At this price, Nividia stock has a low P/E ratio. It is probably a good time to jump back in on Nvidia stock.As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Artificial Intelligence Is Key to Nvidia Stock's Turnaround appeared first on InvestorPlace.
Suncor Energy (SU) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Continuous development of new products and partnerships is likely to drive Box's (BOX) fiscal Q2 results. However, increasing investments in research and development pose a concern.
Wall Street was set to open lower on Friday as China's threat to impose tariffs on $75 billion worth of U.S. goods ratcheted up trade tensions ahead of a highly anticipated speech by Federal Reserve Chair Jerome Powell. China's commerce ministry said it would impose additional tariffs on a total of 5,078 U.S. products that include agricultural products, crude oil, small aircraft and cars.