Thursday's Stocks to Watch
Last night, Cisco Systems (CSCO) posted strong third-quarter earnings. The stock should open at around $63 this morning.
Cisco posted revenue of $14.15 billion, up by 11.4% Y/Y. The firm benefited from a 20% Y/Y increase in product orders. Looking ahead, in Q4, revenue of up to $14.7 billion exceeds expectations, as does earnings per share.
Cisco is a steady, networking hardware firm that grows 10% annually and is inexpensive for investors.
UnitedHealth (UNH) will have further to fall this morning. The U.S. Department of Justice is launching a criminal investigation into possible Medicare fraud. Watch for UNH stock to open down by around 5% - 8% this morning.
Watch for the biggest moving stocks on Wednesday today. Super Micro Computer (SMCI) gained 15.71% on Wednesday to close at $45. The company formed a multi-year partnership with DataVolt, a Saudi Arabia-based data center company. This deal is worth $20 billion. The company said that the deal will “fast-track delivery of ultra-dense GPU platforms and rack systems for DataVolt’s hyperscale AI campuses in the Kingdom of Saudi Arabia and the U.S."'
Enphase Energy (ENPH) may break out of its slump. Shares could add to yesterday’s 5% gain, despite BMO downgrading the stock to a ‘sell’ rating.
