CONTACT: The Schall Law Firm Brian Schall, Esq.www.schallfirm.com Office: 310-301-3335info@schallfirm.com
SOURCE: The Schall Law Firm
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Investors are on edge in the lead-up to the Wednesday Federal Open Market Committee interest rate decision that is expected to deliver the first cut to the federal funds rate in over four years.
The market is divided on the magnitude of the anticipated rate cut. Traders are assigning a 59% probability to a 50-basis-point cut, while a 41% chance is placed on a more modest 25-basis-point reduction. The size of the rate cut is crucial as it could trigger significant market reactions.
Should the Fed opt for a 50-basis-point cut, it may be perceived as an acknowledgment that interest rates are overly restrictive. This could lead to increased expectations for further rate cuts in the coming months, potentially fueling risk sentiment and driving stock prices higher.
Conversely, a 25-basis-point cut might disappoint investors who are betting on a more aggressive measure.
Since the start of 2022, the S&P 500, tracked by the SPDR S&P 500 ETF Trust , has experienced an average move of plus or minus 1.3% during FOMC events, reflecting the market’s high sensitivity to Fed policy decisions.
Goldman Sachs equity analysts, including John Marshall, analyzed stock movements during the first rate cuts in the previous three Fed easing cycles (Sept. 18, 2007, July 31, 2019 and March 3, 2020).
The data highlights the average moves of several key S&P 500 stocks with liquid options during these periods.
Read Next:
Federal Reserve illustration created using artificial intelligence via MidJourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors interested in stocks from the Medical - Products sector have probably already heard of Phibro Animal Health (PAHC) and Abbott (ABT). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Phibro Animal Health and Abbott are sporting Zacks Ranks of #2 (Buy) and #4 (Sell), respectively, right now. Investors should feel comfortable knowing that PAHC likely has seen a stronger improvement to its earnings outlook than ABT has recently. But this is just one factor that value investors are interested in.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
PAHC currently has a forward P/E ratio of 15.58, while ABT has a forward P/E of 25.34. We also note that PAHC has a PEG ratio of 1.80. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABT currently has a PEG ratio of 2.94.
Another notable valuation metric for PAHC is its P/B ratio of 3.53. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ABT has a P/B of 5.20.
These are just a few of the metrics contributing to PAHC's Value grade of A and ABT's Value grade of C.
PAHC is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that PAHC is likely the superior value option right now.
Zacks Investment Research
LOS ANGELES, CA / ACCESSWIRE / September 18, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Starbucks Corporation ("Starbucks" or "the Company") (NASDAQ:SBUX) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 2, 2023 and April 30, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before October 28, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Starbucks announced disappointing Q2 results on April 30, 2024. The Company also lowered its guidance for 2024, blaming the downtrend on global sales declines led by poor performance in China. The Company's CFO stated, "we still see the effects of a slower-than-expected recovery, and we see fierce competition among value players in the market." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Starbucks, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT: The Schall Law Firm Brian Schall, Esq.www.schallfirm.com Office: 310-301-3335info@schallfirm.com
SOURCE: The Schall Law Firm
JPMorgan JPM is in discussions with Apple Inc. AAPL regarding a credit card partnership to replace Goldman Sachs GS. This was first reported by Wall Street Journal, citing a source familiar with the matter.
What Led to JPM’s Negotiations?
In 2019, Goldman partnered with Apple as it entered into the credit card space to issue Apple credit cards. However, it began pulling back last year due to significant losses in its consumer division.
In early 2023, GS informed Apple of its intention to offload the partnership due to financial strains and in November, Apple reportedly proposed an exit from its credit card contract within the next 12 to 15 months. This paved the way for potential new partners to take over the Apple credit card program.
In December 2023, JPM was reportedly being considered a natural successor to take over the Apple credit card program given the existing relationship between the two entities. The two entities already had ties via Apple Pay, and JPMorgan was one of the largest partners for transactions at Apple retail outlets.
Earlier this year, AAPL and JPMorgan initiated discussions to consider the possibility of the bank becoming the new issuer of the Apple Card.
JPMorgan’s Current Status in Negotiations
As reported by Wall Street Journal, the discussions have advanced in recent weeks, However, there’s no certainty that an agreement will be formed.
JPM is negotiating for better terms, as it seeks to pay less than the full value for roughly $17 billion outstanding balances in the Apple Card program due to higher losses on the cards. Sources close to Goldman contended that higher-than-average delinquencies and defaults on the Apple Card portfolio were majorly owed to the new user accounts.
Apple and Goldman offered cards to customers with weak credit scores in an attempt to boost their revenues, which resulted in increased subprime exposure and terms that could be costly for any issuer. This has further complicated the negotiations.
Also, JPM is in talks regarding amendments to some parts of the program, which includes Apple’s calendar-based billing feature, which means that cardholders receive statements at the beginning of the month instead of staggered ones dispersed across the period. This feature, while appealing to customers, leads to a huge number of calls for the service personnel at the same time each month.
These efforts align with JPM’s aim to grow its presence in diverse sectors and strengthen its market share. Last week, it was reported that the company seeks to increase its corporate banking presence in the Swiss markets by utilizing its blockchain technology. It is currently in discussions with potential clients in Switzerland as the bank projects significant growth in its Swiss corporate banking division over the next three to five years. Similarly, earlier this month, JPM set up a private banking team in Dubai to offer wealth management services. This July, the company stated that it aims to capture 15% of the nation’s consumer deposits.
JPM’s Zacks Rank & Price Performance
Year to date, shares of JPMorgan have gained 23% compared with the industry’s 17.1% growth.
Currently, JPM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
Fastly FSLY shares have returned 10.5% over the past month, outperforming the broader Zacks Computer & Technology Sector’s decline of 2.6% and the Zacks Internet - Software industry’s return of 0.8%.
FSLY’s positive share price movement has been driven by revenue growth, which increased 8% year over year to $132.4 million in the second quarter of 2024, exceeding its guidance midpoint ($130 million to $134 million). This was driven by 13% growth in Security revenues and 6% growth in Network services revenues.
The year-over-year top-line growth highlights the success of its enhanced go-to-market strategy, improved customer acquisition and expanding sales through platform solutions.
Customer acquisition efforts saw solid progress in the second quarter of 2024, with the enterprise customer count rising to 601, a sequential increase of 4%. On a year-over-year basis, FSLY grew its enterprise customer count by 50. At the end of the second of 2024, the total customer base reached 3,295, a net increase of 5 compared to the previous quarter.
Fastly’s investment in edge cloud innovations and AI-driven solutions like the AI Accelerator are anticipated to drive future prospects. So, should investors jump into the FSLY stock based on these drivers?
Fastly, Inc. Price and Consensus
Fastly, Inc. price-consensus-chart | Fastly, Inc. Quote
Let’s dig deeper to find out.
Expanding Edge Computing Footprint Aids FSLY’s Prospects
Fastly is focusing on edge computing, which is becoming a key part of its platform, driving momentum with next-generation applications.
The Fastly platform, a software-driven edge network, delivers top-tier services, such as network delivery, security, computing and observability. The focus remains on investing in advanced technology innovations that strengthen the platform and enhance its capabilities for the future of web application development.
Fastly introduced the beta version of Fastly AI Accelerator, an AI proxy designed to boost performance and reduce costs for application developers by utilizing large language models.
Fastly's AI Accelerator harnesses the power of edge computing to provide exceptional global performance. Developers can integrate this technology with just a single line of code, enabling quick adoption and a streamlined, cost-effective development experience.
Security enhancements are an area the company is digging into. Fastly introduced new offerings, including an enhanced Managed Security Service with Bot Management and a 30-minute service level agreement for notifying customers of security incidents.
For 2024, the Zacks Consensus Estimate for revenues is pegged at $535.98 million, indicating year-over-year growth of 5.93%. The consensus mark for earnings loss is 14 cents per share, unchanged over the past 30 days.
Zacks Rank & Valuation
FSLY currently has a Zacks Rank #2 (Buy).
Although its Value Score of D suggests a stretched valuation at this moment, a strong portfolio and an expanding clientele justify this premium valuation.
Better Ranked Picks
Fortinet FTNT, PayPal PYPL and Aspen Technology AZPN are some better-ranked stocks in the same industry. Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Fortinet, PayPal and Aspen Technology is currently pegged at 16.25%, 15.90 and 13.12%, respectively.
Zacks Investment Research
Taiwan Semiconductor Manufacturing Company Ltd. TSM shares have surged 89.8% in the past year, outperforming the broader Zacks Computer and Technology sector’s 32.6% growth and the S&P 500’s 26.2% rally in the said time frame.
Such an impressive gain naturally leads investors to wonder whether Taiwan Semiconductor is still a compelling buy or if it is time to lock in profits.
The company has been benefiting from its scale and capacity, particularly for advanced technologies, which are constantly bolstering its footprint in the semiconductor manufacturing field.
One-Year Price Chart
Taiwan Semiconductor’s strength in wafer fabrication processes is the key catalyst. Its solid momentum among customers, increasing design wins, and strong presence in the domestic and international markets are major positives.
TSM Stock Rides on AI Boom
Taiwan Semiconductor’s strong positioning in the semiconductor industry, which is on the recovery path, owing to the growing proliferation of Artificial Intelligence (AI) and Generative AI, gives a strong hope that its robust advanced technologies will drive the stock further.
Semiconductors or chips — those necessary for AI developments — are in high demand from tech giants. The solid uptake of the Internet of Things (IoT), blockchain and cloud computing solutions is fueling demand for semiconductors.
Thanks to these favorable industry trends, Taiwan Semiconductor is experiencing solid demand for its advanced technologies, such as 3-nanometer (nm) and 5nm. Its strength in its other advanced technologies, such as 7nm, 16nm and 28nm, is another positive.
In the second quarter of 2024, 3nm, 5nm, 7nm, 16nm and 28nm accounted for 15%, 35%, 17%, 9% and 8% of the company’s wafer revenues, respectively.
Against this backdrop, TSM’s growing efforts to ramp up the production of 3nm are a plus. It is also making strides in the development of 2nm, which is capable of addressing the growing need for energy-efficient computing solutions and almost all AI innovators. This technology is designed to deliver a full node performance and power benefit, with 10-15% speed improvement at the same power, or 25-30% power improvement at the same speed, and more than 15% chip density increase.
Its expanding network of semiconductor facilities, which currently includes one 150mm wafer fab, six 200mm wafer fabs, six 300mm wafer fabs and five advanced backend fabs, bodes well for its production ramp goals.
Taiwan Semiconductor is constantly witnessing strong momentum across high-performance computing, smartphone, automotive, IoT and digital consumer electronics applications on the back of robust Fin Field-Effect Transistor (FinFET), which is powered by its advanced technologies. In the June-end quarter, these applications contributed 52%, 33%, 6%, 5% and 2% to the net revenues, respectively.
The growing adoption of the company’s multi-project wafer processing service, which allows customers to reduce mask costs, is driving its customer momentum further.
Solid Customer Momentum Drives TSM’s Growth
Taiwan Semiconductor enjoys a strong customer momentum on the back of its powerful solutions.
The company’s customer base includes many semiconductor bigwigs, such as NVIDIA NVDA, Advanced Micro Devices, Amazon Web Services, Broadcom AVGO, Infineon Technologies, Intel INTC, MediaTek, NXP Semiconductors, Qualcomm and Sony.
In 2023, the company’s 10 large customers contributed 70% to the total revenues. The largest customer among them contributed 25% alone, whereas the second-largest customer accounted for 11% of the net revenues in the same year.
Growing relationships with these behemoths are expected to continue driving top-line growth.
TSM’s Strong Outlook
For third-quarter 2024, Taiwan Semiconductor expects the solid adoption of AI and smartphones to boost the demand for its leading-edge process technologies. It projects revenues between $22.4 billion and $23.2 billion.
The company also expects above 20% growth in 2024 revenues due to rising demand for high-end chips used in AI applications.
The Zacks Consensus Estimate for third-quarter 2024 revenues is pegged at $22.72 billion, indicating year-over-year growth of 31.5%.
The consensus mark for third-quarter 2024 earnings is pegged at $1.74 per share, suggesting year-over-year growth of 34.9%. The estimate has been revised upward by 1.2% in the past 30 days.
The Zacks Consensus Estimate for 2024 revenues is pegged at $85.62 billion, indicating year-over-year growth of 23.6%.
The consensus mark for 2024 earnings is pegged at $6.45 per share, indicating year-over-year growth of 24.5%. The estimate has been revised upward by 2.2% in the past 60 days.
TSM Offers Attractive Valuation
TSM stock is currently trading at a discount with a forward 12-month P/E multiple of 21.57X, lower than the sector’s average of 25.94X. This reflects a good entry point for the investors.
Conclusion
Investors considering Taiwan Semiconductor should weigh its robust technological foundation and strong positioning in the promising semiconductor industry. Its solid customer momentum and strong network of semiconductor fabs present a lucrative opportunity for investors to add the TSM stock to their portfolio.
Taiwan Semiconductor currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
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