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The Zacks Analyst Blog Highlights: Apple, Microsoft, Take-Two Interactive and Virgin Galactic
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For Immediate Release
Chicago, IL – August 4, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc. (AAPL - Free Report) , Microsoft Corporation (MSFT - Free Report) , Take-Two Interactive Software, Inc. (TTWO - Free Report) and Virgin Galactic Holdings, Inc. (SPCE - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Nasdaq Closes at New High on Mega-Cap Interest
Investors entered the week stoked, sending market indexes into the green early Monday, and never looked back. Despite various levers of concern that may be pulled — a falling-out over congressional lawmaking to provide economic aid to those affected by the ongoing pandemic, the coronavirus case levels continuing to tick up ever higher, etc. — a trust in the backstopping of the markets by the Federal Reserve has put the proof to the maxim “Don’t Fight the Fed.”
The Dow finished up 0.9% or 236 points; the S&P 500 climbed to within spitting distance of 3300, up 0.72% to within 3% of its all-time high; and the Nasdaq met and set a new all-time closing high, +157 points, +1.47%, to 10,902.
The key to Nasdaq strength remains the mega-cap tech names, particularly Apple and Microsoft — the former of which posted superb earnings figures last week, while talk this morning of Microsoft’s interest in obtaining wildly popular China-based video-sharing app TikTok have spurred investment interest. The app, which has been compared to the national security threat akin to Huawei in the U.S., does not have a price tag publicly attached to the deal, but its high popularity does make it an intriguing consideration for Microsoft — especially in its potential to rival Facebook and YouTube.
Zacks Rank #2 (Buy)-rated Take Two Interactive, a major video game developer, has far outperformed expectations on its fiscal Q1 top-line results reported after Monday’s close: $996 million in sales rocketed past the $844 million projected, which itself represented 100% growth year over year. Further, the company upped guidance for next quarter and fiscal year on its top-line: between %775-825 million for Q2 and between $2.8-2.9 billion for the full year. Shares are up 4% in late trading.
Commercial space enterprise company Virgin Galactic also put out Q2 results after Monday’s closing bell, missing the Zacks consensus by 2 cents to -30 cents per share, on revenues that are quite beside the point at this stage. This is a stock one buys on the story of its possibilities: much like SpaceX becoming the first private outer-space service company, Virgin Galactic is talking supersonic passenger jets in the future. The company announced it expects to raise $460 million on a 20 million share offer. SPCE shares are tumbling 8% in late trading.
Four Zacks experts each announce their single favorite pick with potential to gain +100% and more in the months ahead. Today, download the private Special Report that names these stocks and spotlights why their upside is so exceptional.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Apple, Microsoft, Take-Two Interactive and Virgin Galactic
For Immediate Release
Chicago, IL – August 4, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc. (AAPL - Free Report) , Microsoft Corporation (MSFT - Free Report) , Take-Two Interactive Software, Inc. (TTWO - Free Report) and Virgin Galactic Holdings, Inc. (SPCE - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Nasdaq Closes at New High on Mega-Cap Interest
Investors entered the week stoked, sending market indexes into the green early Monday, and never looked back. Despite various levers of concern that may be pulled — a falling-out over congressional lawmaking to provide economic aid to those affected by the ongoing pandemic, the coronavirus case levels continuing to tick up ever higher, etc. — a trust in the backstopping of the markets by the Federal Reserve has put the proof to the maxim “Don’t Fight the Fed.”
The Dow finished up 0.9% or 236 points; the S&P 500 climbed to within spitting distance of 3300, up 0.72% to within 3% of its all-time high; and the Nasdaq met and set a new all-time closing high, +157 points, +1.47%, to 10,902.
The key to Nasdaq strength remains the mega-cap tech names, particularly Apple and Microsoft — the former of which posted superb earnings figures last week, while talk this morning of Microsoft’s interest in obtaining wildly popular China-based video-sharing app TikTok have spurred investment interest. The app, which has been compared to the national security threat akin to Huawei in the U.S., does not have a price tag publicly attached to the deal, but its high popularity does make it an intriguing consideration for Microsoft — especially in its potential to rival Facebook and YouTube.
Zacks Rank #2 (Buy)-rated Take Two Interactive, a major video game developer, has far outperformed expectations on its fiscal Q1 top-line results reported after Monday’s close: $996 million in sales rocketed past the $844 million projected, which itself represented 100% growth year over year. Further, the company upped guidance for next quarter and fiscal year on its top-line: between %775-825 million for Q2 and between $2.8-2.9 billion for the full year. Shares are up 4% in late trading.
Commercial space enterprise company Virgin Galactic also put out Q2 results after Monday’s closing bell, missing the Zacks consensus by 2 cents to -30 cents per share, on revenues that are quite beside the point at this stage. This is a stock one buys on the story of its possibilities: much like SpaceX becoming the first private outer-space service company, Virgin Galactic is talking supersonic passenger jets in the future. The company announced it expects to raise $460 million on a 20 million share offer. SPCE shares are tumbling 8% in late trading.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.