Cleveland-Cliffs (CLF) might continue this week, following through from last Friday’s rally. CLF stock jumped by nearly 9% after it posted a non-GAAP earnings per share loss of $0.20.
In the second quarter, Cleveland-Cliffs increased its revenue by 5.5% to $5.2 billion. In the latter half of this year, the company benefits from the U.S. enforcing trade policies. Without as much competition from Canada or Mexico, CLF stock should report strong steel sales.
In the software industry, ServiceNow (NOW) has a good chance of rallying from the $100 line. It will gain traction in the CRM marketplace by providing services to enterprise customers. It expects to scale its volume threefold without adding staff.
Customer traction will improve as customers opt for end-to-end solutions. In the last quarter, ServiceNow exceeded $1 billion in AI ACV. It will surpass $1.5 billion next.
Adobe Systems (ADBE) has a good chance of continuing its one-month-old rebound. Shares traded at a P/E in the low teens. After every quarterly earnings report, Adobe demonstrated strong revenue growth. AI did not have any meaningful impact on hurting its creative software sales.
Software stocks that investors should also consider include Microsoft (MSFT), Intuit (INTU), DocuSign (DOCU), and Salesforce (CRM). Although MSFT stock trades at a premium, it enjoys strong profitability.
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