9 Stocks To Watch This October 2020: CSX, HPE, And More
Looking for some stocks to watch this October 2020? You’ve come to the right place. Here are seven juicy picks perfect for you to do due diligence on.
Disclaimer: This is not financial advice. Our nine stocks to watch are purely to help you discover new stocks so that you can research.
9. Stocks To Watch This October: CSX Corporation (CSX)
HEADLINE: The mixed third quarter results get masked by a board announcement that the company has authorized a $5-billion share repurchase program. This news makes CSX one stock to watch over the coming weeks.
- CSX Corporation reported Q3 results on October 21, 2020. Revenue was reported at $2.65-billion, $32-million below-the-estimate.
- Revenue per share narrowly beat-the-estimate, reporting at $0.96 each, $0.04 above-the-estimate.
- During trading on October 21, share value fell from $79.87 to $78.72.
- However, during pre-market trading on October 22, CSX increased by 4.2-percent. Climbing back to $82.05.
- Research firms Bernstein and Evercore ISI Group upgraded their outlook to outperform in October 2020. Setting targets of $94 and $90 respectively.
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8. Hewlett Packard Enterprise Company (HPE)
HEADLINE: Hewlett Packard Enterprise Co. issued an improved guidance for their 2021financial year.
- The new guidance puts earnings per share between $1.56 and $1.76 each, compared to previous guidance of $1.46 to $1.65 each.
- This positive news made HPE shares climb in value by 2.5-percent during after-hours trading on October 15, 2020. Moving from $9.87 to $10.13.
- Hewlett Packard’s next financial report is expected on November 23, 2020.
- HP’s Q3 2020 report beat-the-estimates. With revenue reporting at $6.82-billion, $756-million above-the-estimate. Earnings per share were reported at $0.32 each, $0.09 above-the-estimate.
- On October 16, 2020, research firm UBS maintained their target price of $10.50 for HPE.
7. Kronos Bio, Inc. (KRON)
HEADLINE: KRON launched October 9, 2020. The IPO price per share was $19.
- Kronos Bio, Inc. (KRON) closed on Friday 9, 2020 at $27.07, a 42-percent increase in initial IPO value.
- The company focuses on clinical-stage novel cancer therapeutics.
- During early trading on Monday, October 12, 2020, KRON was climbing and had reached $28.82.
6. General Motors Company (GM)
HEADLINE: For the first time in two years General Motors increased quarterly sales in China. Gaining 12-percent in year-over-year sales.
- Despite the positive news shares slipped 0.2-percent, dropping to $32.16 on October 9, 2020.
- During General Motors Q2 report the company reported below-the-estimate. With revenue coming in at $16.78-billion, $532-million below-the-estimate. With earnings per share coming in at a loss of $0.50, $1.27 better-than-the-estimate.
- General Motors’ next report is expected on October 27, 2020.
- Analysts Barclays considers the stock overweight at $39, while Citigroup considers GM a buy at $54.
5. Levi Strauss (LEVI)
HEADLINE: The company exceeded estimates in their latest financial report which resulted in a surge during after-hours trading.
- Levi Strauss (LEVI) reported Q3 2020 earnings on October 6.
- Revenue was reported at $1.06-billion, $240.76-million above-the-estimate.
- Earnings per share were reported at $0.08 each, $0.30 above-the-estimate.
- During after-hours trading, shares climbed 10.6-percent. Moving from $14.74 to $16.30.
4. Masimo Corporation (MASI)
HEADLINE: The company delivered a strong preliminary forecast for their upcoming October 27 Q3 report, resulting in an after-hours surge.
- Masimo Corporation (MASI) announced that its revenue forecast for Q3 had moved from $243.66M to $274M-$278M.
- Plus the company increased its Financial Year 2020 Sales Guidance, from $1.07B Estimates to $1.124B-$1.128B.
- The company’s Q2 report said revenue was $10.86-million above-the-estimate, at $300.95-million. Plus earnings per share were reported at $0.85 each, $0.04 above-the-estimates.
- During after-hours trading, shares increased 0.4-percent, from $10.6-percent. Moving from $239.98 to $241.
3. Constellation Brands, Inc. (STZ)
HEADLINE: Constellation Brands, Inc. announced its Q2 earnings October 1, 2020, and beat-the-estimates.
- Q2 revenue was reported at $2.26-billion, $70-million above the estimate.
- Q2 earnings per share were reported at $2.76 each, $0.26 better-than-the-estimate.
- During trading on October 1, 2020, STZ shares fell from $185.54 to $184.60.
- During the five days before the Q2 report, STZ climbed from $180.53 to a peak of $189.97.
- Before the COVID-19 market slump between February and March, STZ was $207.40. It has been recovering gradually ever since April 5, 2020.
2. ConAgra Foods, Inc. (CAG)
HEADLINE: ConAgra Foods, Inc. announced its Q1 earnings October 1, 2020, and beat-the-estimates.
- Q1 revenue was reported at $2.68-billion, $69-million above the estimate.
- Q1 earnings per share were reported at $0.70 each, $0.13 better-than-the-estimate.
- During trading on October 1, 2020, CAG shares climbed from $35.02 to $35.87.
- During the five days before the Q1 report, CAG climbed from $34.82 to a peak of $35.87.
- Before the COVID-19 market slump between February and March, CAG was $32.69. It has been recovering gradually ever since March 8, 2020.
1. PepsiCo, Inc. (PEP)
HEADLINE: PepsiCo, Inc. announced Q3 earnings today before the opening bell and beat-the-estimates.
- Q3 revenue was reported at $18.09-billion, $861-million above-the-estimate.
- Q3 earnings per share were reported at $1.66 each, $0.17 above-the-estimate.
- During trading on October 1, 2020, PEP shares climbed from $138.38 to $140.80.
- During the five days before October 1, PEP climbed from $131.28 to a peak of $139.23.
- PepsiCo, Inc. will report Q4 earnings on February 11, 2021.