Speculators who want to maximize profits in the AI stock phenomenon will buy more Arm Holdings (ARM) stock today. After adding 6.31% yesterday, optimism that PCs and smartphones will add AI hardware will lift ARM shares.
Pentair (PNR), a water treatment company, will try to bounce back from yesterday’s 7.11% drop. The company posted Q2 results on April 23, 2024. Revenue fell by 2.9% Y/Y to $1 billion. Shares fell in sympathy with POOL stock. Pool revised its guidance lower. It cut its annual 2024 earnings guidance to $11.04 to $11.44 a share.
Previously, it expected an EPS in the range of $13.19 to $14.19. Sales are trending lower. New pool construction and remodeling demand is on the decline.
In the tourism sector, Carnival (CCL) will soon break out above a 52-week high. The cruise sector enjoys strong booking growth.
Losers
Enphase Energy (ENPH) may bounce back from a $100 support line. The energy supplier fell after SolarEdge (SEDG) said its customer filed for bankruptcy. SEDG stock is not a buy. The firm cannot collect the $11.4 million owed. Furthermore, the stock price is now $26.40. It spent $30 million to buy shares at $60 earlier this year.
The buyback proved wasteful.
SolarEdge is now issuing debt.
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