Inflation generally hurts disposable income. This discourages consumers from buying high-priced items like furnishings and automobiles. RH (RH) is the exception.
In the second quarter, RH reported revenue growing by 3.7% Y/Y to $829.66 million. However, Q3 demand growth ranges from 12% to 14%. Revenue will increase by 7% to 9%. RH stock needs to follow through by continuing last Friday’s gain of 25.49%. Otherwise, bears, who hold a short float of 13.01%, will not close their bet against the stock.
When Moderna (MRNA) lost 6.32% last week and nearly 53% in the quarter, BioNTech (BNTX) soared by 37.2% on the week. On September 5, the firm presented its clinical data across its mRNA and immunomodulatory oncology portfolio. Early last week, Summit Therapeutics (SMMT) presented data for its lead asset, ivonescimab. This drug outperformed Merck’s anti-PD-1 therapy, Keytruda in a late-stage trial.
Summit’s results lifted BNTX stock. Investors should look at SMMT stock instead of BNTX stock today.
Watch the energy sector today. Last week, APA Corporation (APA), ConocoPhillips (COP), and Devon Energy (DVN) fell the most. WTI crude prices fell on speculation that China’s economy would hurt demand.
China is not the primary reason for lower oil demand. The summer driving season is ending. Producers are switching to the cheaper grade of gas. As prices fall, supply will decline, which helps energy firms boost profits.
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