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 June CPI data in the United States cooled significantly, and the three major indexes were mixed, with the S&P 500 and Nasdaq falling after opening at a historic high on Thursday.
As of Thursday,$Dow Jones Industrial Average (.DJI.US)$the accumulated increase this week is 0.96%, reporting 39753.75 points; during the same period$S&P 500 Index (.SPX.US)$the accumulated increase is 0.31%, reporting 5584.54 points;$Nasdaq Composite Index (.IXIC.US)$the accumulated decline during the same period is 0.38%, reporting 18283.41 points.
Specifically, AI's invisible champion! The materials science leader$Corning (GLW.US)$rose more than 17% this week, and the stock price has surged by more than 50% this year. The company raised its second-quarter performance forecast!
In the AI boom of recent years, Corning has gained market favor with new products such as fiber optics, cables, and optical connectors. These products provide core power for high-efficiency network systems that operate similar to ChatGPT-generated artificial intelligence tools. They have now been widely used in global telecom companies and large-scale data centers.
In addition, Corning officially announced on Monday that thanks to the strong demand in the AI market, the company expects Q2 total sales to be about $3.6 billion, higher than the previously announced expectation of $3.4 billion.
Taking the lead, the automatic driving online car-hailing model is expected to be profitable!$Baidu (BIDU.US)$It rose more than 13% this week, with a maximum daily increase of more than 8%, and the brokerage supported it to a high of $183.
According to Baidu's Q1 financial report, the automatic driving orders of its subsidiary, Luobo Kuaipao application, are about 0.82 million orders, a year-on-year increase of 25%. As of April 19, 2024, the cumulative orders provided exceeded 6 million. According to Luobo Kuaipao's plan, it is expected that as the volume of delivery increases, the operating cost per car will significantly decrease. It is expected to achieve break-even by the end of 2024 in Wuhan and become profitable in 2025.
In addition, CMB International believes that as the automatic driving industry develops, the company will continue to benefit from its technological accumulation and effective data accumulation, maintaining its target price of $183 and 'buy' rating.
Benefiting from the expected interest rate cuts, the US residential construction sector surged and achieved the best daily performance of the year this week! Among them,$D.R. Horton (DHI.US)$$ PulteGroup (PHM.US) $ rose more than 9% this week,$PulteGroup (PHM.US)$,$Lennar Corp (LEN.US)$Weekly gain exceeds 9%,$NVR Inc (NVR.US)$,$CRH PLC (CRH.US)$Up more than 8% for the week. In addition, real estate investment trust stocks.$SBA Communications Corp (SBAC.US)$Up nearly 10% for the week.
Due to the latest CPI data cooling down in the USA, the market is betting that the Fed may begin cutting interest rates in September, which injects vitality into the residential construction sector. Overnight, the sector surged more than 7%, marking the best single-day performance in 2024. Analysts pointed out that investors are flocking to home builders, digital and commercial real estate stocks.
On the other hand, the following stocks performed weakly this week:
Editor/ping