Wall Street was set to tap the brakes on Thursday as upbeat jobs data after a firm message from the Fed that it won't be cutting interest rates any time soon offset China's latest reopening plans.
The NASDAQ 100 Pre-Market Indicator is down -46.84 to 10,867.96. The total Pre-Market volume is currently 34,426,914 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro QQQ (TQQQ) is -0.14 at $17.03, with 4,822,092 shares traded.
Walgreens Boots Alliance (WBA) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.68 per share a year ago. These figures are adjusted for non-recurring items.
U.S. online spending during the 2022 holiday season rose by a better-than-expected 3.5%, a report by Adobe Analytics showed, as retailers used hefty discounts to lure inflation-weary consumers into spending on everything from toys to electronics.
Continuing its 2022 trend, the Nasdaq-100 fell by over 9% in December, underperforming other indexes like the S&P 500 and the Dow Jones Industrial Average. This put a cap on its abysmal year, during which it fell nearly 33%.
U.S. stock index futures were muted on Thursday after the Federal Reserve's December meeting minutes showed the central bank's commitment to taming inflation, with focus turning to key employment data for more clues on the rate hike trajectory.
As we head into 2023, now is the time to be thinking about your investing strategy. The past year has been a rough one for the stock market, but there are more promising times ahead.While nobody knows for certain what will happen over the next few months, a bull market is eventua
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(RTTNews) - Amazon said it plans to eliminate over 18,000 jobs, more than initially planned, citing uncertain economy. The decision is part of the tech major's annual planning process for 2023 with a focus to build a stronger cost structure, and comes after further reviews by its
The eagerly-anticipated Fed minutes arrived and failed to
surprise, with markets broadly shrugging off the hawkish tone
and still pining for a rate cut sometime this year.
eBay stock (NASDAQ: EBAY) has gained 3.4% in the last week, outperforming the S&P 500 (up 0.4%). However, the opposite trend was observed over the last ten days (-1.9% vs -1.8%) and one-month period (-8.7% vs -6.2%). Notably, the recent stock volatility was due to a dr
The NASDAQ 100 After Hours Indicator is down -12.37 to 10,902.43. The total After hours volume is currently 94,370,861 shares traded.The following are the most active stocks for the after hours session: Vornado Realty Trust (VNO) is +0.07 at $21.30, with 29,824,833 shares traded
After one of the worst years for stocks in recent memory, many analysts are hopeful that 2023 could accompany some relief gains. Indeed, the harder-hit names of 2022 could have the most room to run once the bear market enters old age, potentially setting the stage for the next bull market. In this piece, let's check out two stocks that the
analyst community expects more than 35% in gains from over the year ahead. Recession or not, it's hard not to be tempted by the following names that analysts still praise.
Amazon (
NASDAQ:AMZN)
The e-commerce behemoth and disruptor has fallen in a huge way. The stock lost around 55% of its value from peak to trough. It's been a painful fall, but the long-term growth picture still looks attractive, even if the coming quarters are expected to be a doozy.
Even after a more than 50% haircut, AMZN stock sports a lofty
78.8 times trailing earnings multiple. With an expected recession to take a jolt out of consumer spending, the stage looks set for a rough patch in the first half of 2023. Still, at 1.7 times sales, the innovative disruptor is cheap relative to the long-term growth you'll get.
Of all the FAANG names, Amazon arguably has the most attractive growth story. It's ready to disrupt new markets, even as the winds of recession add a chill to financial markets.
Last year, Amazon's "Buy With Prime" button failed to garner hype from investors who soured on the former FAANG top dog. I think the new service aimed at third-party retailers could help Amazon make noise in payments, fulfillment, and further pressure e-commerce firms that have found success with helping smaller businesses start up their own online shops.
There's a lot of growth to be had with the little guy in retail. As Amazon continues to invest in its value-adding platform, the tides could turn in a major way once the looming spending drought shows signs of exhaustion.
What is the Price Target for AMZN Stock?
Wall Street is sticking with its long view of Amazon. The average AMZN stock price of $139.74 implies a whopping 62.7% gain from here.
PayPal Holdings (
NASDAQ:PYPL)
PayPal is a top dog in digital payments, but questions linger as to how it'll continue to attract and retain users as new offerings in the fintech arena become available. During the glory days (2021) of fintech, mid-cap up-and-comers were seen as the next big thing. PayPal stock showed signs of weakness in mid-2021, when the stock peaked.
With rates on the rise and fintech unicorns fading into the background, the focus has shifted back to mature and profitable companies. In that regard, PayPal still looks like a capable firm ready to grow its presence in the massive online payments space.
As tech titans like Amazon begin to set their sights on online payments, PayPal will need to also find a way to pivot.
In a
prior piece, I argued that an acquisition of a social-media firm made the most sense, given social commerce is a forward-looking trend to could be incredibly profitable. Indeed, such a pivot seems drastic, even far-fetched, for a payments company. However, pivoting may ultimately be necessary if the firm is to fight back at some scary rivals that are hungry to steal market share in payments.
Despite headwinds, PayPal stock looks like a great value play in the tech scene at
37.9 times trailing earnings - very reasonable for an innovator with a stellar ecosystem.
Recently, Truist upgraded the stock to a Buy, with a $95 price target.
What is the Price Target for PYPL Stock?
Wall Street loves PayPal. The average PYPL stock price target of $107.15 implies a solid 37.9% gain to be had over the year ahead.
The Takeaway
Wall Street analysts have grown more selective over the last several months. After numerous price target (and rating) downgrades, the "Strong Buys" still standing are worthy of attention. Of the two names mentioned in this piece, analysts expect more gains (~63%) from AMZN stock.
Disclosure
What happened
Shares of Amazon (NASDAQ: AMZN) were all over the board Wednesday, initially falling as much as 2.9% before climbing back into positive territory. As of 2:45 p.m. ET, the stock was back in the red, down 1.1%.