Investors who want exposure to the consumer goods market may watch Kenvue (KVUE). The firm posted flat revenue growth (-0.3% Y/Y) of $4 billion. However, its $1.10 - $1.20 adjusted EPS forecast for 2024 is higher than analysts estimated.
Expect KVUE stock to continue its uptrend.
Uber (UBER), which rallied by 10.9% on Tuesday ahead of Q2 results, is the stock to watch. Gross bookings increased by 19% Y/Y to $40 billion. It will increase to $40.25 billion to $41.75 billion in Q3. These strong results and outlook suggest that UBER stock is an attractive holding.
Biomarin (BMRN) is poised to break out of its $80 - $85 trading range, toward $90. The firm reported a 19.6% Y/Y increase in revenue, to $712.03 million. The firm is a biotechnology company that makes drugs to treat achondroplasia and severe hemophilia A.
In the lithium mining sector, Albemarle (ALB) continues to break down in the stock market. In Q2, it lost $188 million ($1.96 a share loss). Revenue plunged by 39.7% Y/Y to $1.43 billion. Investors should avoid ALB stock.
Watch Upstart (UPST) today, as shares gain over 15%. The lender, which uses AI to make lending decisions, expects Q3 revenue of $150 million. The strong outlook is despite a looming Fed rate cut.
