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📈 The Stock That's Poised To Hit New All-Time Highs After Earnings
Taking a look at big tech stocks throughout earnings week, Roaring Kitty is back and more
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Happy Wednesday! How stocks react after earnings reports can be more unpredictable than my drives on the golf course. But here’s why some analysts are anticipating new all-time highs for $META following earnings. Plus, a hot stock tip from Benzinga’s very own analyst.
—Aaron Bry
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MARKET SNAPSHOT
Yesterday: Green on the screen! All major indices closed higher as investors appeared to take on bullish positions ahead of the big earnings week.
On Our Radar: Google reports today after the close, and we will hear from Amazon, Meta, Microsoft and Apple later in the week. Plus, we’ll get PCE data on Thursday which could also move markets.
TOP STORY
What Happened: Meta Platforms will report third-quarter earnings today after the close. Wall Street expects $5.24 in EPS and $40.27 billion in revenues as the company reports after market hours.
So: Meta stock is up 94.9% over the past year, 70.35% year-to-date. But here’s why some experts think it could go even higher.
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FIVE ZINGERS
Fat Drugs, Fat Losses: Eli Lilly’s stock got crushed this morning after the pharmaceutical giant reported earnings, despite growth in its weight-loss drug.
Do You Know Your ABCs?: Alphabet reported after the close yesterday, the first Mag 7 stock to report this week, surging higher on strong cloud growth.
r/gains: Reddit’s stock is surging higher after the social media company reported a profitable quarter and significant growth.
And The Cat Came Back: Roaring Kitty is back in the headlines again, this time for selling this stock, which sent $GME shares higher.
Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.
ONE FOR THE ROAD
Hey everyone! Benzinga’s own research analyst Gianni di Poce releases a list of stocks he sees that have a ton of potential every week, and the latest one of his reports just dropped. Here’s a preview and click here to sign up for Edge and get the rest.
The Stock Pick: Argenx (ARGX) develops various therapies for the treatment of autoimmune diseases across the world.
The company brought in $1.27 billion in revenue in 2023, but still lost $295.05 million on the year.
Sign up here for Benzinga Edge to get the full trade idea and more stock picks.
A MESSAGE FROM BENZINGA
Every market day, Benzinga Edge readers get a stock pick setting up for an interesting technical move. Today, you can get access to the stocks making new breakouts, breakdowns, and other tradeable setups, right here.
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