5 Stocks To Watch This Week: August 25, 2020
Swipe down for our five freshest stocks to watch this week. Below are yesterday’s top-five biggest movers.
- Cancer Genetics, Inc. (CGIX) signed a merger agreement with StemoniX on Monday and shares more than doubled. Increasing by 114.8-percent, from $2.90 to $6.25.
- Sonnet BioTherapeutics Holdings, Inc. (SONN) shares surged 48.3-percent, from $2.61 to $3.90, after the FDA issued an emergency use authorization for plasma in COVID-19 treatment.
- Odonate Therapeutics, Inc. (ODT) announced positive results in their phase 3 Tesetaxel study, yet shares dropped 45.4-percent. From $33.36 to $18.33.
- A news report yesterday stated that Northern Dynasty Minerals Ltd. (NAK) plans for an Alaska gold and copper mine had been blocked due to environmental concerns. Shares dropped by 38.2-percent during trading, from $1.45 to $0.89.
- FTS International, Inc. (FTSI) reported that there was an agreement to restructure $400-million of debt to equity, and shares dropped by 36.5-percent. From $5.00 to $3.15.
Stocks To Watch This Week: Palo Alto Networks, Inc. (PANW) – $267.11
HEADLINE: We picked PANW as a stock to watch this week first on Monday and have picked it again after its strong Q4 results, an upbeat Q1 forecast, and an acquisition announcement.
- Q4 revenue reported at $950.40-million, $26.89-million over-the-estimate. Increasing by 17.94-percent year over year.
- Q4 earnings per share reported at $1.48 each, $0.09 over-the-estimate. Increasing by 0.68-percent year over year.
- First-quarter estimates were adjusted, with revenue estimates increasing from $901-08-million to $915-$925-million. Earnings per share estimates also increased from $1.18 each to $1.32-$1.35 each.
- Plus, Palo Alto Networks announced plans to acquire The Crypsis Group For $265-million.
LATEST TRADING: During after-hours trading on Monday PANW shares fell by 2.7-percent, from $267.11 to $259.84.
The dip during after-hours trading is a surprise, making PANW one of our top stocks to watch this week.
Portland General Electric Company (POR) – $41.98
HEADLINE: The Portland General Electric Company (POR) lowered its financial year earnings guidance on Monday. Unsurprisingly the market reacted.
- Updated estimates expect earnings per share to report at $1.30-$1.60 each.
- Previous estimates put earnings per share at $2.20-$2.50 each.
LATEST TRADING: During after-hours trading on Monday POR shares dropped by 9.4-percent. From $41.95 to $38.01.
FLASHBACK: Last quarter results were reported above-the estimate.
- Q2 revenue was reported at $469-million, $13.16-million above-the-estimate. This was an increase of 1.96-percent year over year.
- Q2 earnings per share reported at $0.43 each, $0.10 above-the-estimate. This was an increase of 53.57-percent year over year.
SENTIMENT: News sentiment is currently 72.8-percent positive towards POR.
POR will be an interesting watch over the coming days as the market decides how much weight the downgraded earnings forecast have versus the previous positive second-quarter results.
Salesforce.com, Inc. (CRM) – $208.45
HEADLINE: Salesforce.com, Inc. (CRM) will be announcing its second-quarter results after the closing bell today.
- Analysts expect Q2 revenue of $4.9-billion and earnings per share of $0.67 each.
- Experts Deutsche Bank maintained its buy status on CRM on Monday. Increasing their price target to $225.
FLASHBACK: Their first-quarter results reported above-the-estimate.
- Q1 revenue was reported at $4.87-billion, $15-million above-the-estimate.
- Q1 earnings per share were reported at $0.70 each, $0.01 above-the-estimate.
LATEST TRADING: During after-hours trading on Monday CRM climbed 3-percent, from $208.45 to $214.80.
SENTIMENT: News sentiment is 78.5-percent positive towards CRM. Only 1.5-percent off being Bullish.
A positive second-quarter report could make CRM one of the top stocks to watch this week. Especially as its trend since the March lockdown slump show the price going only one way, upwards.
Hewlett Packard Enterprise Company (HPE) – $9.62
HEADLINE: The Hewlett Packard Enterprise Company (HPE) will report third-quarter results after the markets close today.
- Analysts expect Q3 revenue of $6.06-billion and earnings per share of $0.23 each.
- During the market’s lockdown slump, HPE fell from $14.74 in February to $8.63 in March. It has fluctuated around $10 since.
FLASHBACK: Their second-quarter results reported below-the-estimates.
- Q2 revenue was reported at $6.01-billion, $311-million below-the-estimate.
- Q2 earnings per share were reported at $0.22 each, $0.08 below-the-estimate.
LATEST TRADING: During after-hours trading, HPE increased by 1.1-percent. From $9.62 to $9.73.
SENTIMENT: News sentiment is currently 67-percent positive towards HPE.
Best Buy Co., Inc. (BBY) – $117.45
HEADLINE: The one company reporting before the markets open today is Best Buy Co., Inc. (BBY).
- Analysts expect Q2 revenue of $9.71-billion and earnings per share of $1.08 each.
- Experts Raymond James maintained its strong buy status on BBY on Monday. Increasing their price target to $135.
FLASHBACK: Their first-quarter results reported above-the-estimates.
- Q1 revenue was reported at $8.56-billion, $212-million above-the-estimate.
- Q1 earnings per share were reported at $0.67 each, $0.07 above-the-estimate.
LATEST TRADING: During after-hours trading BBY dropped 0.1-percent. Moving from $117.45 to $117.20.
SENTIMENT: News sentiment for BBY is 78.35-percent positive. Only 1.65-percent off being Bullish.
A positive second-quarter report along with strong sentiment and positive trends since the markets lockdown slump makes BBY one of the top stocks to watch this week.