Amazon (AMZN) Prime Day is a turning point for the stock. The online event shows that online customers are spending. This is a catalyst for the stock. Adobe (ADBE) Analytics estimated that consumers spent $7.2 billion on July 16.
Customers increased spending on electronics, up by 33% Y/Y. They increased their demand for TVs, fitness trackers, tablets, computers, and e-readers. Strong sales for PCs are unusual. Tech firms like Microsoft (MSFT), Dell, Lenovo (LNVGY), and HP Inc. (HPQ) promoted AI PCs. The sales figures suggest that consumers want a PC with NPUs (neural processing units), and chips that power AI.
Equifax (EFX) posted Q2 results after markets closed on Wednesday. Revenue increased by 8.3% Y/Y to $1.43 billion. For the year, the firm maintained its midpoint revenue guidance of $5.72 billion. This is up by 8.6% Y/Y.
In the drug manufacturing sector, Johnson & Johnson (JNJ) broke out of its downtrend. The firm reported Q2 revenue rising by 4.3% Y/Y to $22.4 billion. The strong results lifted weak drug firms like Pfizer (PFE) and Bristol-Myers (BMY). Its guidance hike of $500 million suggests that JNJ stock will trend toward a new high in the second half of this year.
Pharma investors may consider firms like AbbVie (ABBV), Takeda (TAK), Eli Lilly (LLY), and Viatris (VTRS).
