Editor's note: "US Stock Gold Mining" Keep up with daily market trends, insight, and consolidate hot and outstanding stocks, providing multi-dimensional investment opportunities for Mooer and helping them grasp investment opportunities with one chart! Focus on: 1. Performance and stock prices take off! Global fast fashion giant $Gap Inc (GPS.US)$ soared nearly 29% after its performance, reaching a new high for the year. Gap announced its first fiscal 2023 first-quarter results, with net sales of $3.4 billion, exceeding analysts' expectations of $3.28 billion, and earnings per share of $0.41, with overall comparable sales growth of 3%, better than expected 0.91%. In addition, the gross profit margin for the quarter reached 41.2%, higher than analysts' forecast of 38.5%. Its subsidiary brand Old Navy's same-store sales grew by 3%, exceeding market expectations of 2.5%. Based on this, Gap raised its sales and operating profit outlook for the year. Baird has recently raised its target share price for Gap from $23 to $28, and Goldman Sachs has raised its target share price for Gap from $20 to $27. 2. US electric power stocks collectively agitated! The largest wind and solar power generator developer in the United States $NextEra Energy (NEE.US)$, the fourth largest power plant in the United States $Southern Company (SO.US)$, the power and natural gas company $CenterPoint Energy (CNP.US)$, and the electrical production and transmission company $Edison International (EIX.US)$ have all reached new highs for the year. On the news front, as AI technology often requires a lot of energy to develop and operate, utility stocks are becoming a new opportunity for investors. 3. Low-key AI beneficiaries! Data storage giantThis week's bullish stocks in Hong Kong and the US stock markets.This section closely follows market trends every week, reviews the weekly performance of the Hong Kong and US stock markets, and helps mooers sort out the hot sectors, strong individual stocks, and major news of the week, looking for investment themes with profit potential.
This week, the Hang Seng Index has fluctuated and strengthened, with a cumulative increase of 1.59% to 18,366.95 points; during the same period, the Hang Seng Tech Index has accumulated a 2.21% increase to 3,772.47 points; and the Heng Seng China Enterprises Index has accumulated a 1.84% increase to 6,510.37 points during the same period.
In particular, the green energy concept stocks have performed very well this week,$CGN NEW ENERGY (01811.HK)$with a weekly increase of more than 23%,$DATANG RENEW (01798.HK)$with a weekly increase of more than 14%.
In terms of news, according to statistics, as of May 31, 2024, CGN New Energy had accumulated a total power generation of 8,238.0 gigawatt-hours this year, a decrease of 3.9% compared to the same period in 2023. Among them, China's solar energy projects increased by 23.0%, China's cogeneration and gas-fired projects increased by 13.9%, China's hydropower projects increased by 17.3%, and the South Korean project decreased by 8.4%.
Daiwa previously released research reports stating that with the implementation of the capacity electricity price mechanism in November of last year, the next focus of the market is expected to shift to the environmental value of renewable energy, such as carbon emission quota trading, green electricity and certification, and verified emission reduction credits (CCER).
The Red Sea crisis continues this week, and shipping stocks continue to rise.$COSCO SHIP HOLD (01919.HK)$They increased by more than 15% this week and accumulated to an increase of about 98% this year.$COSCO SHIP ENGY (01138.HK)$It increased by more than 6% this week, and the stock has achieved six consecutive weeks of gains on the weekly chart.$OOIL (00316.HK)$It increased by more than 4% this week.
Currently, the economic impact of Houthi militants attacking commercial ships in the Red Sea is expanding, and the global transportation capacity shortage is continuing to deteriorate. The world's shipping trade giant Maersk recently raised its full-year profit forecast, stating that the congestion in the Red Sea had a far greater impact on the global shipping supply chain than expected. The Maersk Group said that there are signs of further congestion in global ports, especially in Asia and the Middle East, which are causing surging freight rates. It is worth noting that this is Maersk's second upward revision of its forecast in a month.
$CTIHK (06055.HK)$After the announcement of profit growth, the stock price rose sharply by 17% in one day, and rose nearly 25% during the week. It is worth noting that since hitting a low for the year on February 5, the stock price has been strong for nearly 4 months and has almost doubled.
In terms of news, China Tobacco Hong Kong recently released a positive profit alert, expecting an increase of no less than 10% in income for the six months ended June 30, 2024, and an increase of no less than 30% in the profit attributable to owners of the company. In addition, customs data shows that in April 2024, the export value of China's tobacco and its products was 529 million yuan, a year-on-year increase of 33.4%; and the export volume was 18,400 tons, a year-on-year increase of 31.0%.
On the other hand, the following stocks performed weakly this week:
Editor/ruby