Crocs, Enphase, Dell: Trending Tickers
Crocs (CROX) shares soar after the footwear brand said it would likely beat its full-year 2023 guidance. The company raised its full-year revenue forecast to $3.95 billion, up from its prior forecast of $3.91 billion to $3.94 billion.
Solar energy company Enphase (ENPH) received an upgrade from Wells Fargo. The team, led by analyst Praneeth Satish, raised their rating on the stock to "Overweight" and boosted their price target to $141.
Dell (Dell) shares rise after JPMorgan upgraded the stock to 'Overweight,' citing 'higher confidence' in sustained revenue growth as the company 'cycles past the macro pressures on PCs as well as general-purpose servers.'
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Eyek Ntekim.
Video Transcript
BRAD SMITH: Stocks are mixed this morning as the Dow is weighed down by Boeing following that Alaska Airlines incident over the weekend. The S&P 500 and the tech-heavy NASDAQ both moving higher and holding onto gains.
SEANA SMITH: All right. Let's take a look at some of those individual names. Crocs one of the biggest movers on Yahoo Finance today, surging, look at that, nearly 20% after the company updated its guidance this morning ahead of the 2024 ICR conference. Now Crocs saying that it expects record full-year revenue in 2023 up almost 11% compared to the prior year. They also are anticipating a strong 2024 thanks to improvement in gross margins.
BRAD SMITH: Must've been those grimace Crocs. And solar company, Enphase, feeling the love and the light this morning from Wells Fargo. An analyst at the firm upgrading the stock to overweight, excuse me, from equal weight, saying that they expect a rebound in residential solar as interest rates come down. Wells Fargo saying that Enphase's strong 2023 performance and cash flow allows it to be a defensive play against upcoming headwinds.
SEANA SMITH: All right. In a pair of upgrades pushing Dell shares to the upside here this morning up just about 3.5%. UBS naming the stock one of its top tech hardware picks for 2024. And JP Morgan upgrading Dell to overweight, that's up from neutral this morning. And again, you're looking at shares rise nearly 4%.
