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3-Stock Lunch: Boeing, Generac Holdings & Reddit
  + stars: | 2024-10-09 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: Boeing, Generac Holdings & RedditBill Strazzullo, Bell Curve Trading chief marketing strategist, joins ‘Power Lunch’ to discuss stock plays for three stocks.
Persons: Bill Strazzullo Organizations: Boeing, Generac Holdings, Bell Curve Trading
Shares of backup power generation company Generac Holdings surged more than 7% on Monday as Hurricane Milton rapidly strengthened into a Category 5 storm. Hurricane Milton is forecast to move north of the Yucatan Peninsula on Monday and Tuesday before crossing the Gulf of Mexico to approach the west coast of Florida by Wednesday, according to the National Hurricane Center. Hurricane Milton comes on the heels of Hurricane Helene, which killed more than 220 people and wrought devastation across the Southeast, particularly in North Carolina. Insurance stocks that have weather catastrophe exposure, meanwhile, are falling on potential insured losses tied to Hurricane Milton. Allstate, Travelers and Chubb saw their shares fall more than 3%, while Progressive and AIG all declined more than 1%.
Persons: Hurricane Milton, Generac, Hurricane Helene, Chubb, Milton, Joshua Shanker Organizations: Generac Holdings, Hurricane, National Hurricane Center, North Carolina . Insurance, Hurricane Milton, Allstate, Travelers, Progressive, AIG, Universal Insurance, Bank of America, Colorado State University, Research Locations: Hurricane, Yucatan, Mexico, Florida, Tampa, North Carolina, Fort Lauderdale , Florida
A worker unloads a 24-kilowatt Generac home generator off a truck at Captain Electric on February 18, 2021 in Orem, Utah. Shares of backup power generation company Generac Holdings surged more than 7% on Monday as Hurricane Milton rapidly strengthened into a Category 4 storm. Insurance stocks that have weather catastrophe exposure, meanwhile, are falling on potential insured losses tied to Hurricane Milton. Allstate, Travelers and Chubb saw their shares fall more than 3%, while Progressive and AIG all declined more than 1%. Lauderdale, plunged more than 20% as the catastrophe-prone carrier with Gulf Coast exposure could see heightened hurricane risks.
Persons: Hurricane Milton, Chubb Organizations: Captain Electric, Generac Holdings, Hurricane, National Hurricane Center, Insurance, Hurricane Milton, Allstate, Travelers, Progressive, AIG, Universal Insurance Locations: Orem , Utah, Milton, Yucatan, Mexico, Florida, Tampa, Fort . Lauderdale
Generac Holdings — Shares of the maker of power generators surged 8% as Hurricane Milton intensified into a Category 5 storm . Amazon — The e-commerce stock lost 2.9% after Wells Fargo downgraded shares to equal weight from overweight and cut its price target, citing slowing growth and competition from Walmart. Hershey – Shares fell 2% after the chocolate maker was downgraded to neutral at UBS and to market perform at Bernstein. JPMorgan downgraded shares to underweight from neutral, citing dwindling confidence in the Israel-based company grapples with share loss concerns and volume challenge. JPMorgan downgraded shares to neutral, citing limited EPS upside from here.
Persons: Milton, Wells, Chubb, Morgan Stanley, Coty, Ashley Helgans, Arcadium, Bernstein, GLP, Ciena, , Yun Li, Hakyung Kim, Alex Harring, Jesse Pound, Michelle Fox, Sean Conlon, Pia Singh Organizations: Generac Holdings, Walmart, Pfizer —, CNBC, Insurance, , Allstate, Travelers, Progressive, Hurricane, Universal Insurance, Air Products, Chemicals, Garmin —, Garmin, Jefferies, Rio Tinto, Hershey –, UBS, Butterfly Equity, JPMorgan, Apple Locations: Florida, Hurricane Milton, Fort Lauderdale , Florida, Wells Fargo, California, Israel
On Friday, the tech-heavy S & P 500 and Nasdaq Composite ended the week with losses, down 0.8% and 2.1%, respectively. However, the bulk of Magnificent Seven results is set for release in the week ahead. As it is, all seven of the Magnificent Seven companies closed out the week with losses. FOMC meeting, July jobs report Elsewhere, investors will also be reviewing the latest Federal Reserve interest rate decision set for release on Wednesday. Traders will also get insight into the labor market next week, with the release of the July jobs report on Friday.
Persons: Russell, Ryan Grabinski, John Belton, Tesla, Belton, FactSet, Stanley Black, Decker, Lam, Kraft Heinz, Ingersoll Rand Organizations: Nasdaq, Dow Jones Industrial, Microsoft, Facebook, Apple, Nvidia, 2H, 3Q, Gabelli, Traders, Dallas Fed, Semiconductor, Nation Entertainment, Electronic Arts, Starbucks, Match Group, Caesars Entertainment, Corning, Howmet Aerospace, Procter, Gamble, Pfizer, Merck, Co, PayPal, ADP, Civilian Workers, Chicago PMI, MGM Resorts International, Allstate, Lam Research, eBay, Qualcomm, Western, Cruise Line Holdings, Hess, Boeing, Mobile, Marriott International, GE Healthcare Technologies, Generac Holdings, Mastercard, Labor, PMI, Manufacturing, Intel, Holdings, Motorola Solutions, Technology, Air Products, Chemicals, Jobs, Exxon Mobil, Chevron Locations: Chicago, Albemarle, Kellanova, Hershey, Moderna
The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.
Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York
The S & P 500 entered Thursday up 8.5% in November, on track for its best month since July 2022. .SPX 1M mountain November is shaping up to be the best month of the year for the S & P 500. Through mid-November, when 94% of S & P 500 companies had reported results, third quarter earnings were tracking about 4.3% above the same time last year, according to FactSet. Top stocks Another important change in November is the stocks leading the way. Of the 10 biggest stocks in the S & P 500, five rose at least 10% in November, including the two largest in Apple and Microsoft .
Persons: John Stoltzfus, Oppenheimer, Angelo Kourkafas, Edward Jones, It's, it's, Yung, Yu Ma, That's, Santa Claus, Chris Verrone, — CNBC's Michael Bloom Organizations: Treasury, Federal, PCE, Fed, CNBC, Expedia, Carnival Corp, Generac Holdings, Paramount Global, Insulet Corp, BMO Wealth Management, Apple, Microsoft, Tesla, Energy, OPEC Locations: U.S, Santa
Hurricane Idalia hits Florida's west coast in a composite image from the National Oceanic and Atmospheric Administration (NOAA) GOES-East weather satellite August 30, 2023. NOAA/Handout REUTERS Acquire Licensing RightsNEW YORK, Aug 30 (Reuters) - Millions of Florida residents evacuated to higher ground after Hurricane Idalia, an "extremely dangerous" Category 3 storm, made landfall on Wednesday at the state's Gulf Coast. Idalia was forecast to unleash destructive winds and torrential downpours that will cause coastal flooding up to 16 feet (5 m) deep. An early news briefing by Florida Governor Ron DeSantis was interrupted for a few seconds by a power cut. Shares of NextEra Energy (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $67.51.
Persons: Idalia, Ron DeSantis, Kinder Morgan, Owens Corning's, Chibuike Oguh, Lance Tupper, Marguerita Choy Organizations: National Oceanic, Atmospheric Administration, NOAA, Handout REUTERS, Florida, NextEra Energy, Florida Power & Light Company, Duke Energy, Generac Holdings, Chevron, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Gulf Coast, Idalia, Georgia, South Carolina, U.S, Gulf, Mexico, New York
Factbox: Stocks to watch as Idalia makes landfall in Florida
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +2 min
Electric power transmission pylon miniatures and Nextera Energy logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Reporting by Chibuike Oguh in New York; editing by Lance Tupper and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Idalia, Here's, Ron DeSantis, , Owens Corning, Chibuike Oguh, Lance Tupper, Nick Zieminski Organizations: REUTERS, Simpson, National Hurricane Center, POWER Florida, NextEra Energy Inc, Florida Power & Light Company, Duke Energy Corp, Generac Holdings, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Coast, Big, New York
Stocks to watch as Idalia makes landfall in Florida
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 28 (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state's Gulf Coast by Wednesday morning. Idalia is predicted to transform into a Category 3 on the Saffir-Simpson Hurricane Wind Scale when it makes landfall in northern Florida's Big Bend area, where the panhandle transitions into the peninsula, the National Hurricane Center said. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Shares of NextEra Energy Inc (NEE.N), which owns the Florida Power & Light Company, the state's largest utility, was little changed at $68.06, up 0.154%. Duke Energy Corp (DUK.N) said on Monday it is mobilizing approximately 4,500 people - power line technicians, vegetation workers, damage assessors and support personnel – to respond to power outages as Idalia reaches Florida.
Persons: Dado Ruvic, Idalia, Here's, Ron DeSantis, , Owens Corning, Chibuike Oguh, Lance Tupper, Nick Zieminski Organizations: REUTERS, Simpson, National Hurricane Center, POWER Florida, NextEra Energy Inc, Florida Power & Light Company, Duke Energy Corp, Generac Holdings, Universal Insurance Holdings, Allstate Corporation, American International, Home, Lowe's, Thomson Locations: Florida, Coast, Big, New York
All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.
Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho
More Big Tech earnings and the jobs report are in the week ahead as investors wrap up a strong week that included a historic run for the Dow Jones Industrial Average . Jobs report out Friday Investors will digest the latest data from the July jobs report due out next Friday. "I don't expect any huge surprise from this jobs report next week," said Liz Young, head of investment strategy at SoFi. Earnings will continue to pour in next week, with key results from Big Tech companies Apple and Amazon on Thursday. Still, cooling inflation, strong jobs market and a resilient economy could spell a happy path for Wall Street.
Persons: Dow, Queen Victoria, Kim Forrest, Jerome Powell, Forrest, Nonfarm, Dow Jones, Liz Young, Bokeh's Forrest, they're, She'd, we've, SoFi's Young, Young, she'd, Stanley Black, Decker, The Kraft Heinz Organizations: Big Tech, Dow Jones, Dow, Cotton Oil, Bokeh Capital Partners, Meta, Federal Reserve, Pew Research, Apple, Semiconductor, Bank of Japan, Chicago PMI SA, Dallas Fed, Arista Networks, Western, Systems, PMI Manufacturing SA, ISM Manufacturing SA, Merck, Co, Caterpillar, Marriott International, Altria, Cruise Line Holdings, Pfizer, Marathon Petroleum, Molson Coors Beverage, SolarEdge Technologies, Devices, Caesars Entertainment, Electronic Arts, Starbucks, ADP Employment Survey SA, CVS Health, Fidelity National Information Services, Generac Holdings, Humana, The Kraft, Brands, MetLife, Marathon Oil, Occidental Petroleum, PayPal Holdings, Qualcomm, Etsy, Costco Wholesale, MGM Resorts, SA, PMI, Factory, PMI SA, News Corp, Constellation Energy, Moderna, Warner Bros, Discovery, Hasbro, ConocoPhillips, Kellogg, Booking Holdings, Expedia, Motorola Solutions, Monster Beverage, Manufacturing Payrolls SA, Nonfarm Payrolls SA, Dominion Energy Locations: United Kingdom, U.S
Three-Stock Lunch: REGN, PINS & GNRC
  + stars: | 2023-06-28 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: REGN, PINS & GNRCLee Munson, Portfolio Wealth Advisors president and CIO, joins 'Power Lunch' to discuss three stocks: Regeneron, Pinterest and Generac Holdings.
Persons: Lee Munson Organizations: Generac Holdings
The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
Bed Bath & Beyond – Bed Bath & Beyond shares dipped 2% before the bell, building on a more than 26% loss from Thursday's session. Virgin Orbit — Virgin Orbit shed nearly 43% after announcing that it would halt operations "for the foreseeable future" as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce. BlackBerry — Shares fell about 2% after the software company posted fourth-quarter revenue that fell slightly short of consensus estimates. Regional bank stocks — Some regional bank stocks that have been volatile in recent weeks rose Friday.
An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Digital World Acquisition — Shares of the SPAC linked to former President Donald Trump advanced 6.3%. Nikola — Nikola shares sank 11% after the electric-truck maker announced plans for a $100 million secondary stock offering priced 20% below Thursday's close. Regional banks — Shares of closely followed regional bank stocks advanced, with the SPDR S&P Regional Banking ETF (KRE) up 0.8%. elf Beauty — The cosmetic company's stock gained 5.2%, reaching a 52-week high.
Home Depot also provided a muted outlook for fiscal 2023 and expects sales growth to be approximately flat due to a tougher consumer backdrop and a pivot away from goods toward services. Nordson reported sales of $610.5 million in the period and earnings per share of $1.95, excluding items. The company reported quarterly earnings of $1.30 per share, excluding items. That result beat analysts' earnings expectations of $1.07 per share, according to FactSet. The updated outlook includes organic net sales growth of about 10% and adjusted diluted per-share earnings growth of 7% to 8% in constant currency.
Check out the companies making the biggest moves in premarket trading:Walmart — Walmart shares fell about 4% before the bell after sharing a cautious outlook for the year as consumers trade down and purchase fewer discretionary items. Home Depot — The retail stock dropped 4% in premarket trading after Home Depot's fourth-quarter report showed lighter-than-expected sales. Home Depot reported $3.30 in earnings per share on $35.83 billion of revenue. Vir Biotechnology — The immunology company jumped nearly 11% after being upgraded to buy from neutral by Goldman Sachs. HSBC cited strong reported revenue growth and lower reported operating expenses.
Analysts surveyed by Refinitiv were expecting earnings of 23 cents per share on $8.16 billion of revenue. Excluding items, it earned 88 cents per share, slightly above the Refinitiv estimate of 86 cents per share. Cisco also beat revenue expectations. Twilio — The communications tools maker rose nearly 9% after reporting revenue of $1.02 billion, above the $1 billion analyst polled by Refinitiv expected. West Pharmaceutical Services — The drug and health-care products manufacturer gained 5.3% after reporting a fourth-quarter earnings and revenue beat.
Airbnb reported 48 cents in earnings per share on $1.90 billion of revenue. Devon Energy — Shares tumbled 12.3% after the energy company reported fourth-quarter earnings and revenue that came in below expectations. Generac Holdings — Shares rallied 8% after the power-generator maker reported fourth-quarter earnings of $1.78 per share, topping StreetAccount's estimate of $1.75 per share. Warren Buffet's firm now owns more than 93 million shares of Paramount. Martin Marietta Materials — Shares gained 7% after the company reported fourth-quarter net income of $183.6 million, up from $156.8 million a year ago.
The S&P 500 was 0.7% lower Friday, leaving it down 19.9% for the year. Corporate bonds had a miserable 2022, too: The return on bonds issued by S&P 500 companies was -14.2% this year. The Bloomberg Aggregate US Bond Index had its worst year since the index’s inception in 1977, according to FactSet. Excluding energy, S&P 500 earnings would fall 1.8% this year, Butters predicted. Occidental Petroleum has been the biggest gainer of the year in the S&P 500, up 122% year-to-date.
The S&P 500 is down nearly 20% and with two trading days left in the year, investors’ hopes of a miraculous recovery have been dashed. The energy sector has so far returned more than 60% this year, significantly outperforming every other S&P 500 sector. Occidental Petroleum has been the biggest gainer of the year in the S&P 500, up 122% year-to-date. The energy sector reported the highest year-over-year earnings growth of all 11 sectors, at 137.3%. Elon Musk’s Tesla (TSLA) is also down about 70%, making the auto tech company the third worst performer this year.
In a losing year for US stocks, here are the 10 biggest percentage decliners on the S&P 500. The 10 largest S&P 500 stock losers wiped out $1.6 trillion in market value. The 10 S&P 500 companies that have experienced the largest stock-price declines heading into the end of 2022 have wiped out a combined market value of more than $1.6 trillion. PayPalTicker: PYPLYTD Performance: -63.4%Market Value Decline: $142.49 billionLike many tech companies, the digital payments processor is seeing a slowdown after a pandemic boom. Photo by George Frey/Getty ImagesTicker: GNRCYTD Performance: -73.8%Market Value Decline: $16.6 billionMass COVID lockdowns helped sparked big demand for backup generators as people worked and studied at home.
Generac’s Generator Sales Hurt by Lack of Installers
  + stars: | 2022-11-18 | by ( Bob Tita | ) www.wsj.com   time to read: 1 min
Generac Holdings Inc. said its dealers are struggling to keep up with orders for backup generators, leading the company to lower its sales forecast while customers wait months for installations. The Wisconsin-based manufacturer opened a new factory in South Carolina last year and has overcome supply-chain bottlenecks and labor shortages that constrained generator production during the Covid-19 pandemic. Now, the company says it needs more dealers and electricians to install its generators as customer orders pile up.
A man poses in front of a sign of Meta, the new name for the company formerly known as Facebook, at its headquarters in Menlo Park, California, October 28, 2021. With Meta shares sinking to new lows, the social media giant is now the worst performer in the S&P 500 this year as of Thursday. In October, for instance, Meta reported its second straight quarterly sales drop and issued weak fourth-quarter guidance that was below analyst's expectations. But building the metaverse doesn't come cheap with Meta's Reality Labs business unit, which is overseeing its VR and AR initiatives, losing $9.4 billion thus far in 2022. "Beyond 2023, we expect to pace Reality Labs investments such that we can achieve our goal of growing overall company operating income in the long run," Meta said in October.
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