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BERLIN, Sept 17 (Reuters) - German broadcaster RTL BTGG.F and Paramount PARA.O have withdrawn their bid to merge Super RTL, a children's television network, with Nickelodeon, the German cartel office said on Tuesday.
The office said the withdrawal had occurred after it informed the companies that it intended to prohibit the planned merger.
Super RTL, belonging to Bertelsmann's RTL Group AUDK.LU, in April said it had struck a deal to acquire Nickelodeon series in Germany.
Under the agreement, Super RTL would have acquired a rights package to bring current and upcoming series from Nickelodeon, owned by Paramount Global PARA.O, to its television programme.
Popular Nickelodeon series include "PAW Patrol" and "SpongeBob SquarePants".
German cartel office head Andreas Mundt said its intention to prohibit the merger was mainly due to the limited space for advertising targeted at children aged three to 13.
"There are only a very limited number of companies that offer advertising space specifically aimed at children, above all RTL with its relevant TV programme," he said.
Even if YouTube Kids were included in the analysis, Super RTL remains the dominant provider of such advertising and would further significantly grow with the addition of Nickelodeon, the cartel office said.
(Reporting by Miranda Murray, writing by Marleen Kaesebier, editing by Thomas Seythal and Friederike Heine)
(( Miranda.Murray@thomsonreuters.com ;))
Keywords: PARAMOUNT GLOBAL-SALE/RTL GROUP (UPDATE 1)
For Immediate Releases
Chicago, IL – September 17, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Sirius XM Holdings Inc. SIRI, Royal Caribbean Cruises Ltd. RCL, Norwegian Cruise Line Holdings Ltd. NCLH, Paramount Global PARAA and Crocs Inc. CROX.
Here are highlights from Tuesday’s Analyst Blog:
Buy 5 Consumer Discretionary Stocks Ahead of Fed FOMC to Gain Big
Market participants across the world are eagerly waiting for the upcoming Fed FOMC meeting scheduled Sept. 17-18. At present, the financial investment community is extremely hopeful that a rate regime will be initiated in the September FOMC meeting for the first time after March 2020. The CME FedWatch tool currently shows a 100% probability of a 25-basis point cut along with a 50% possibility of a 50-basis point cut in September.
At this stage, investment in consumer discretionary stocks should be prudent to earn profits in the near term. Here we offer five consumer discretionary stocks — Sirius XM Holdings Inc., Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings Ltd., Paramount Global and Crocs Inc.
These five stocks have seen positive earnings estimate revisions in the last 60 days and have handsome short-term price appreciation potential. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Why Consumer Discretionary Stocks?
The consumer discretionary sector is generally recognized as being growth-oriented. Growth sectors are highly sensitive to the movement of the market interest rate and are inversely related. Companies in this space need a cheap source of credit for businesses. Investors derive returns from these stocks’ investments over a period of time.
A low market interest rate regime will reduce the discount rate thereby increasing the net present value of investment in these stocks. On the other hand, the fundamentals of the U.S. economy remain solid.
The U.S. GDP grew at 1.4% in first-quarter 2024. The second reading of second-quarter GDP was 3%. On Sept. 9, the Atlanta Fed GDPNow projected a 2.5% GDP growth rate for the third quarter.
A recession means contraction of GDP (negative GDP growth rate) for two consecutive quarters. As the recession fear evaporates, the consumer discretionary sector is likely to perform well buoyed by strong personal consumption expenditures.
Buy 5 Consumer Discretionary Stocks Ahead of the Fed FOMC Meeting
Sirius XM Holdings Inc.
Zacks Rank #1 Sirius XM has been benefiting from an improvement in ad revenues, offset by a decline in Sirius XM Standalone’s paid promotional subscribers. SIRI continues to bolster its content offerings by adding content from all spheres, including music, politics, news and sports, to its platform. SIRI’s expanded podcast efforts fit well with the existing advertising-led focus at Pandora and AdsWizz and are expected to improve monetization in the near term.
Sirius XM has an expected revenue and earnings growth rate of 1.3% and 8.3%, respectively, for next year. The Zacks Consensus Estimate for the next-quarter, current-year and next-year earnings has improved over the last 60 days.
Huge Price Upside Potential for SIRI Shares
The short-term average price target of brokerage firms for the stock represents a jump of 45.2% from the last closing price of $24.51. The brokerage target price is currently in the range of $25-$65.
Crocs Inc.
Zacks Rank #2 Crocs has been benefiting from solid consumer demand for the Crocs brand, accompanied by effective pricing actions and lower freight costs. CROX has been experiencing strength in clogs, sandals and personalization for a while. Strong demand trends led to impressive results during second-quarter 2024, which marked the 17th consecutive quarter of earnings beat.
CROX also remains on track with its long-term strategy and key initiatives to deliver sustainable growth. For 2024, CROX anticipates revenue growth of 3-5% at constant currency from the year-ago levels, with a 7-9% increase in the Crocs brand revenues. Management anticipates gross margin to expand year over year during 2024, with gross margin growth across both the Crocs and HEYDUDE brands.
Crocs has an expected revenue and earnings growth rate of 4% and 6.8%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the next quarter, current year and next year in the last 60 days.
CROX Stock Has Lucrative Price Appreciation Potential
The short-term average price target of brokerage firms for the stock represents an increase of 27.4% from the last closing price of $128.77. The brokerage target price is currently in the range of $146-$179.
Royal Caribbean Cruises Ltd.
Zacks Rank #1 Royal Caribbean Cruises posted impressive second-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. RCL has been benefiting from strong cruising demand from new and loyal guests and robust booking trends. Also, strength in consumer spending onboard and pre-cruise purchases bodes well.
RCL emphasized investing in a modern digital travel platform to streamline the vacation booking process for customers and expand wallet share. Moreover, RCL emphasized new innovative ships and onboard experiences to boost its offering and deliver superior yields and margins.
Royal Caribbean Cruises has an expected revenue and earnings growth rate of 18.1% and 71.1%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, current year and next year in the last 30 days.
Strong Price Upside Potential for RCL Stock
The short-term average price target of brokerage firms for the stock represents an increase of 12.5% from the last closing price of $167.96. The brokerage target price is currently in the range of $154-$210.
Norwegian Cruise Line Holdings Ltd.
Zacks Rank #1 Norwegian Cruise Line reported solid second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. NCLH is benefiting from strong demand, high pricing and increased booking volumes, leading to record advance ticket sales.
NCLH’s focus on fleet expansion efforts and digital initiatives bodes well. These factors showcase that the company’s strategy is well-aligned with its growth goals and 2026 financial and sustainability targets. Given the substantial progress made so far and current demand expectations, NCLH raised its 2024 full-year guidance.
Norwegian Cruise Line has an expected revenue and earnings growth rate of 9.8% and more than 100%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, next quarter, current year and next year in the last 60 days.
NCLH Stock Has Impressive Price Appreciation Potential
The short-term average price target of brokerage firms for the stock represents an increase of 18.7% from the last closing price of $19.33. The brokerage target price is currently in the range of $17.5-$32.
Paramount Global
Zacks Rank #1 Paramount Global operates as a media, streaming, and entertainment company worldwide. PARAA operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. PARAA’s portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount, Pluto TV and Simon & Schuster, among others.
Paramount Global has an expected earnings growth rate of more than 100% for the current year. Although its revenue growth rate is negative for the current year, it is 0.2% for next year. The Zacks Consensus Estimate for current-quarter, next-quarter, current-year and next-year earnings has improved over the last 60 days.
Solid Price Appreciation Potential for PARAA Shares
The short-term average price target of brokerage firms for the stock represents an increase of 15.2% from the last closing price of $21.96. The brokerage target price is currently in the range of $25-$25.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
BERLIN, Sept 17 (Reuters) - German broadcaster RTL BTGG.F and Paramount PARA.O have withdrawn their bid to merge Super RTL, a children's television network, with Nickelodeon, said the German cartel office on Tuesday.
The office said the withdrawal happened after it informed the companies that it intended to prohibit the planned marriage.
Super RTL, belonging to Bertelsmann's RTL Group AUDK.LU, in April said it had struck a deal to acquire Nickelodeon series in Germany.
Under the agreement, Super RTL would have acquired a rights package to bring current and upcoming series from Nickelodeon, owned by Paramount Global PARA.O, to its television programme.
(Reporting by Miranda Murray, editing by Thomas Seythal)
(( Miranda.Murray@thomsonreuters.com ;))
Keywords: PARAMOUNT GLOBAL-SALE/RTL GROUP (URGENT)
Two weeks of the 2024 National Football League season are almost in the books with soaring interest from fans around the world, which could benefit media companies that have NFL rights.
What Happened: Viewership figures are in for the first week of the NFL season along with the first "Thursday Night Football" game from Amazon.com Inc streaming platform Prime Video, which kicked off the second week.
The first week saw NFL games average 21 million viewers, setting the highest opening-week average on record for the league.
Among the media companies that benefitted from the opening week of the NFL season were Comcast Corporation , Paramount Global , Fox Corporation and The Walt Disney Company .
Comcast had three prime-time games during the first week with the opening game on Sept. 5, a Peacock streaming exclusive on Sept. 6 and the opening weekend's Sunday Night Football game. Viewership for the opening kickoff game was 29.2 million, up 9% to last year's kickoff game, as reported by The Hollywood Reporter.
The Friday night Peacock exclusive game had an average of 14 million viewers. The opening Sunday Night Football game was watched by an average of 22.8 million people across NBC and Peacock.
Disney saw 20.5 million viewers for the first Monday Night Football game of the season across ABC, ESPN, ESPN2 and streaming platforms.
CBS and Fox also saw strong viewership for the Sunday afternoon games with Fox averaging an impressive 23.9 million viewers for the late Sunday afternoon national game between the Dallas Cowboys and Cleveland Browns, which was Tom Brady's Fox broadcast debut for broadcasting.
The second week of the NFL season kicked off with a ban with Amazon's first 2024 game seeing an average of 14.96 million viewers. The figure was the third largest Thursday Night Football game for Amazon ever and significantly ahead of the company's 2023 season average viewership of 11.8 million viewers.
Read Also: Kendrick Lamar To Perform Super Bowl LIX Halftime: Could Apple, Fox And Universal Music Get A Boost?
Why It's Important: Media companies continue to shell out millions of dollars for national sports rights, especially the NFL.
The strong opening week viewership show exactly why, as having the rights to key NFL games can help with advertising revenue and also boost streaming subscribers.
In 2023, 93 of the top 100 most watched shows were NFL games, according to data from Nielsen. A report from Variety showed that 45 of the top 100 most watched primetime broadcasts in 2023 were NFL games.
While Disney, Fox and Paramount have benefitted from NFL rights for many years, Comcast could be one of the biggest beneficiaries for the 2024 season with the extra primetime game in the first week and the potential boost to its Peacock streaming platform.
Amazon signed a big streaming-only deal with the NFL that has benefitted the company with additional branding boost for Prime Video and also led to more sign-ups for the streaming platform.
The streaming company's NFL deal also led to other streaming companies ready to commit more to live sports rights, including rival streaming platform Netflix Inc .
After years of focusing on what it calls sports adjacent programming of sports docuseries and specials, Netflix is now investing more in live sports content. The streaming giant will air its first NFL games in the 2024 season with two highly anticipated Christmas day matchups.
Netflix will stream the Kansas City Chiefs at Pittsburgh Steelers at 1 p.m. ET and the Baltimore Ravens at Houston Texans at 4:30 p.m. ET on Christmas Day. The games could provide a boost to Netflix's subscriber count, particularly its ad-supported plan which has been a large company focus.
For the NFL, media partners mean big dollars. For media partners, the NFL means big viewership and advertising money. A potential win-win for all parties involved.
Read Next:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Market participants across the world are eagerly waiting for the upcoming Fed FOMC meeting scheduled Sept. 17-18. At present, the financial investment community is extremely hopeful that a rate regime will be initiated in the September FOMC meeting for the first time after March 2020. The CME FedWatch tool currently shows a 100% probability of a 25-basis point cut along with a 50% possibility of a 50-basis point cut in September.
At this stage, investment in consumer discretionary stocks should be prudent to earn profits in the near term. Here we offer five consumer discretionary stocks — Sirius XM Holdings Inc. SIRI, Royal Caribbean Cruises Ltd. RCL, Norwegian Cruise Line Holdings Ltd. NCLH, Paramount Global PARAA and Crocs Inc. CROX.
These five stocks have seen positive earnings estimate revisions in the last 60 days and have handsome short-term price appreciation potential. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Why Consumer Discretionary Stocks?
The consumer discretionary sector is generally recognized as being growth-oriented. Growth sectors are highly sensitive to the movement of the market interest rate and are inversely related. Companies in this space need a cheap source of credit for businesses. Investors derive returns from these stocks’ investments over a period of time.
A low market interest rate regime will reduce the discount rate thereby increasing the net present value of investment in these stocks. On the other hand, the fundamentals of the U.S. economy remain solid.
The U.S. GDP grew at 1.4% in first-quarter 2024. The second reading of second-quarter GDP was 3%. On Sept. 9, the Atlanta Fed GDPNow projected a 2.5% GDP growth rate for the third quarter.
A recession means contraction of GDP (negative GDP growth rate) for two consecutive quarters. As the recession fear evaporates, the consumer discretionary sector is likely to perform well buoyed by strong personal consumption expenditures.
Buy 5 Consumer Discretionary Stocks Ahead of the Fed FOMC Meeting
Sirius XM Holdings Inc.
Zacks Rank #1 Sirius XM has been benefiting from an improvement in ad revenues, offset by a decline in Sirius XM Standalone’s paid promotional subscribers. SIRI continues to bolster its content offerings by adding content from all spheres, including music, politics, news and sports, to its platform. SIRI’s expanded podcast efforts fit well with the existing advertising-led focus at Pandora and AdsWizz and are expected to improve monetization in the near term.
Sirius XM has an expected revenue and earnings growth rate of 1.3% and 8.3%, respectively, for next year. The Zacks Consensus Estimate for the next-quarter, current-year and next-year earnings has improved over the last 60 days.
Huge Price Upside Potential for SIRI Shares
The short-term average price target of brokerage firms for the stock represents a jump of 45.2% from the last closing price of $24.51. The brokerage target price is currently in the range of $25-$65.
Crocs Inc.
Zacks Rank #2 Crocs has been benefiting from solid consumer demand for the Crocs brand, accompanied by effective pricing actions and lower freight costs. CROX has been experiencing strength in clogs, sandals and personalization for a while. Strong demand trends led to impressive results during second-quarter 2024, which marked the 17th consecutive quarter of earnings beat.
CROX also remains on track with its long-term strategy and key initiatives to deliver sustainable growth. For 2024, CROX anticipates revenue growth of 3-5% at constant currency from the year-ago levels, with a 7-9% increase in the Crocs brand revenues. Management anticipates gross margin to expand year over year during 2024, with gross margin growth across both the Crocs and HEYDUDE brands.
Crocs has an expected revenue and earnings growth rate of 4% and 6.8%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the next quarter, current year and next year in the last 60 days.
CROX Stock Has Lucrative Price Appreciation Potential
The short-term average price target of brokerage firms for the stock represents an increase of 27.4% from the last closing price of $128.77. The brokerage target price is currently in the range of $146-$179.
Royal Caribbean Cruises Ltd.
Zacks Rank #1 Royal Caribbean Cruises posted impressive second-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. RCL has been benefiting from strong cruising demand from new and loyal guests and robust booking trends. Also, strength in consumer spending onboard and pre-cruise purchases bodes well.
RCL emphasized investing in a modern digital travel platform to streamline the vacation booking process for customers and expand wallet share. Moreover, RCL emphasized new innovative ships and onboard experiences to boost its offering and deliver superior yields and margins.
Royal Caribbean Cruises has an expected revenue and earnings growth rate of 18.1% and 71.1%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, current year and next year in the last 30 days.
Strong Price Upside Potential for RCL Stock
The short-term average price target of brokerage firms for the stock represents an increase of 12.5% from the last closing price of $167.96. The brokerage target price is currently in the range of $154-$210.
Norwegian Cruise Line Holdings Ltd.
Zacks Rank #1 Norwegian Cruise Line reported solid second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. NCLH is benefiting from strong demand, high pricing and increased booking volumes, leading to record advance ticket sales.
NCLH’s focus on fleet expansion efforts and digital initiatives bodes well. These factors showcase that the company’s strategy is well-aligned with its growth goals and 2026 financial and sustainability targets. Given the substantial progress made so far and current demand expectations, NCLH raised its 2024 full-year guidance.
Norwegian Cruise Line has an expected revenue and earnings growth rate of 9.8% and more than 100%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, next quarter, current year and next year in the last 60 days.
NCLH Stock Has Impressive Price Appreciation Potential
The short-term average price target of brokerage firms for the stock represents an increase of 18.7% from the last closing price of $19.33. The brokerage target price is currently in the range of $17.5-$32.
Paramount Global
Zacks Rank #1 Paramount Global operates as a media, streaming, and entertainment company worldwide. PARAA operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. PARAA’s portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount, Pluto TV and Simon & Schuster, among others.
Paramount Global has an expected earnings growth rate of more than 100% for the current year. Although its revenue growth rate is negative for the current year, it is 0.2% for next year. The Zacks Consensus Estimate for current-quarter, next-quarter, current-year and next-year earnings has improved over the last 60 days.
Solid Price Appreciation Potential for PARAA Shares
The short-term average price target of brokerage firms for the stock represents an increase of 15.2% from the last closing price of $21.96. The brokerage target price is currently in the range of $25-$25.
Zacks Investment Research
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum Score
Momentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Paramount Global-B (PARA)
Paramount Global is a global media, streaming and entertainment provider offering content through well-known brands, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. It also operates Paramount Pictures.
PARA is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 6.56; value investors should take notice.
For fiscal 2024, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.21 to $1.57 per share. PARA boasts an average earnings surprise of 205.8%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, PARA should be on investors' short list.
Zacks Investment Research
As the presidential debate on Sept. 10 between Donald Trump and Vice President Kamala Harris was likely the last between the two candidates, voters are turning their attention to a debate between the presidential candidates’ running mates ahead of the 2024 presidential election.
What Happened: Tuesday's presidential debate was watched by 67.1 million people with Walt Disney Co unit ABC News hosting and allowing simulcasting to other media networks.
Other media networks have been fighting to get future presidential debates between the two candidates but they may be out of luck.
Trump posted on social media Thursday that there will be no third debate.
Without another debate between the two presidential candidates, attention could shift to vice presidential running mates J.D. Vance and Tim Walz, who are the candidates for the Republican and Democratic parties, respectively.
The two will face off on Oct. 1 in a debate hosted by CBS News, a unit of Paramount Global . Norah O'Donnell and Margaret Brennan will serve as the moderators for the debate.
Vance and Walz agreed to the debate and date set for New York City after several back and forth conversations with media networks.
Vance has sought to have as many debates as possible and accused Walz and Harris from running from media interviews.
"I think we ought to do as many debates as we possibly can," Vance previously said.
Walz's team agreed to one debate and with Trump and Harris potentially not doing another debate, the opportunity for Vance and Walz to take part in more debates could arise.
Prediction market Polymarket lists the odds of a vice presidential debate happening before the 2024 election at 97%. The odds of one debate are listed at 94% with two or more debates listed at 1% and no debates listed at 5%.
On Polymarket, users can deposit funds using USDC via the Polygon network, or directly from a crypto account with Ethereum . In each betting market, the winning option pays out at $1.
Did You Know?
What's Next: No rules have been publicly shared for the vice presidential debate, which makes forecasting a winner or what voters should expect tough.
The debate is expected to follow a similar 90-minute format and have commercial breaks, which could benefit Paramount.
Polymarket lists a 24% chance of having a live audience at the vice presidential debate, something that would differ from the 2024 presidential debates.
Vance has not been popular with voters since being named the vice presidential candidate as reported by The Hill. Vance's net favorability is negative and doesn't show signs of improvement. More voters (46.8%) view Vance unfavorably than those who view him favorable (39.8%).
Walz on the other hand has a positive net favorability rating with 43.6% viewing him favorably and 40.9% viewing him unfavorable.
The 2020 vice presidential debate between Mike Pence and Kamala Harris was watched by more than 57 million people. The total passed the 37 million total from the 2016 debate between Pence and Tim Kaine, CNN reported.
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