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The Zacks Analyst Blog Highlights Apple, Alibaba, Bristol-Myers Squibb, Tesla and Cigna
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For Immediate Release
Chicago, IL – August 29, 2022 – 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) , Alibaba Group Holding Ltd. (BABA - Free Report) , Bristol-Myers Squibb Co. (BMY - Free Report) , Tesla, Inc. (TSLA - Free Report) and Cigna Corp. (CI - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Analyst Reports for Apple, Alibaba and Bristol-Myers Squibb
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including Apple Inc., Alibaba Group Holding Ltd. and Bristol-Myers Squibb Co.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Apple's shares have gained +15.1% over the past year, roughly in line with the Zacks Computer - Mini computers industry's gain of +15.4%. The company's third-quarter fiscal 2022 results benefited from strong iPhone sales and continued momentum in the Services business. The segment benefited from the robust performance of Apple TV+, partially offset by unfavorable forex, the absence of revenues from Russia and the challenging macroeconomic environment.
However, iPad sales were hurt by supply-chain constraints. Apple did not provide revenue guidance for the fourth quarter of fiscal 2022. Apple expects year-over-year revenue growth to accelerate during the fiscal fourth quarter on a sequential basis, despite approximately 600 basis points of unfavorable year-over-year impact from forex.
Services revenue growth is expected to be lower than the June quarter due to challenging macroeconomic conditions and unfavorable forex.
Alibaba's shares have declined -36.0% over the past year against the Zacks Internet - Commerce industry's decline of -28.6%. The Zacks analyst believes that the resurgence of COVID-19 in China remained a major headwind for the company during the reported quarter.
We believe disruptions led by the coronavirus pandemic are likely to persist as concerns for Alibaba's domestic businesses. Further sluggishness in online physical goods' GMV at Taobao and Tmall marketplaces remains an overhang.
However, Alibaba's fiscal first quarter results were driven by solid momentum across Alibaba's China commerce and International commerce wholesale businesses. Also, strength across the local consumer services, cloud computing business and Cainiao logistics services contributed well to the top-line growth.
Further, contributions from direct sales businesses like Alibaba Health and Freshippo continue to remain tailwinds.
Bristol-Myers Squibb shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past year (+10.9% vs. -37.7%). The company's performance in the second quarter of 2022 was strong as earnings and sales beat estimates on the back of solid demand for Eliquis and label expansion of Opdivo. Eliquis is the leading oral anticoagulant drug and continues to experience growth in its market share.
The label expansion of Opdivo into indications of lung cancer, renal cancer and gastric cancer boosted sales. The recent approval of drugs adds a new stream of revenues, which should boost growth in the coming quarters. The pipeline progress has been impressive and strategic collaborations will further expand the portfolio.
However, one of the top revenue generators Revlimid is facing generics, which will adversely impact sales. Moreover, competition is stiff for Opdivo.
Other noteworthy reports we are featuring today include Tesla, Inc. and Cigna Corp..
Mark Vickery Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Apple, Alibaba, Bristol-Myers Squibb, Tesla and Cigna
For Immediate Release
Chicago, IL – August 29, 2022 – 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) , Alibaba Group Holding Ltd. (BABA - Free Report) , Bristol-Myers Squibb Co. (BMY - Free Report) , Tesla, Inc. (TSLA - Free Report) and Cigna Corp. (CI - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Analyst Reports for Apple, Alibaba and Bristol-Myers Squibb
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including Apple Inc., Alibaba Group Holding Ltd. and Bristol-Myers Squibb Co.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Apple's shares have gained +15.1% over the past year, roughly in line with the Zacks Computer - Mini computers industry's gain of +15.4%. The company's third-quarter fiscal 2022 results benefited from strong iPhone sales and continued momentum in the Services business. The segment benefited from the robust performance of Apple TV+, partially offset by unfavorable forex, the absence of revenues from Russia and the challenging macroeconomic environment.
However, iPad sales were hurt by supply-chain constraints. Apple did not provide revenue guidance for the fourth quarter of fiscal 2022. Apple expects year-over-year revenue growth to accelerate during the fiscal fourth quarter on a sequential basis, despite approximately 600 basis points of unfavorable year-over-year impact from forex.
Services revenue growth is expected to be lower than the June quarter due to challenging macroeconomic conditions and unfavorable forex.
(You can read the full research report on Apple here >>>)
Alibaba's shares have declined -36.0% over the past year against the Zacks Internet - Commerce industry's decline of -28.6%. The Zacks analyst believes that the resurgence of COVID-19 in China remained a major headwind for the company during the reported quarter.
We believe disruptions led by the coronavirus pandemic are likely to persist as concerns for Alibaba's domestic businesses. Further sluggishness in online physical goods' GMV at Taobao and Tmall marketplaces remains an overhang.
However, Alibaba's fiscal first quarter results were driven by solid momentum across Alibaba's China commerce and International commerce wholesale businesses. Also, strength across the local consumer services, cloud computing business and Cainiao logistics services contributed well to the top-line growth.
Further, contributions from direct sales businesses like Alibaba Health and Freshippo continue to remain tailwinds.
(You can read the full research report on Alibaba here >>>)
Bristol-Myers Squibb shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past year (+10.9% vs. -37.7%). The company's performance in the second quarter of 2022 was strong as earnings and sales beat estimates on the back of solid demand for Eliquis and label expansion of Opdivo. Eliquis is the leading oral anticoagulant drug and continues to experience growth in its market share.
The label expansion of Opdivo into indications of lung cancer, renal cancer and gastric cancer boosted sales. The recent approval of drugs adds a new stream of revenues, which should boost growth in the coming quarters. The pipeline progress has been impressive and strategic collaborations will further expand the portfolio.
However, one of the top revenue generators Revlimid is facing generics, which will adversely impact sales. Moreover, competition is stiff for Opdivo.
(You can read the full research report on Bristol-Myers Squibb here >>>)
Other noteworthy reports we are featuring today include Tesla, Inc. and Cigna Corp..
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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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 https://www.zacks.com/performance for information about the performance numbers displayed in this press release.