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The Zacks Analyst Blog Highlights: Facebook, Amgen and MGM Resorts International
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For Immediate Release
Chicago, IL – October 31, 2018 – 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 Facebook , Amgen (AMGN - Free Report) and MGM Resorts International (MGM - Free Report) .
Facebook Mixed in Q3, Shares Swing to Positive; Plus AMGN, MGM
Facebook outperformed on its headline earnings number for Q3, beating by 30 cents from the Zacks consensus to $1.76 per share, and above the $1.59 in the year-ago quarter. However, revenues missed expectations of $13.81 billion, posting $13.73 billion, but are still up roughly 30% year over year. Shares were immediately trading down on the news, initially by 5% but have now swung to the positive in late trading.
Both Monthly Active Users (MAU) and Daily Active Users (DAU) were down slightly from estimates for the quarter, to 2.27 billion (+10%) and 1.49 billion (+9%) respectively. These figures represent slightly slowing user growth from the +11% growth we saw in both MAU and DAU in Q2. All in all, 2.6 billion users engage in one of Facebook's family of platforms, including Instagram and WhatsApp.
Costs rose 53% for Facebook year over year as headcount grew 45% -- both reflecting a concerted effort for Facebook to address security and account fraud issues. Eyes and ears will be on the upcoming conference call, where a quarter ago the company guided toward revenue deceleration for the first time in the company's publicly traded history. This sent the shares plummeting from all-time highs over the summer, and the stock has yet to recover.
Biopharma giant and Zacks Rank #2 (Buy)-rated Amgen outperformed estimates on both top and bottom lines this afternoon, with $3.69 per share and $5.9 billion easily beating the $3.42 per share and $5.86 billion. The company also raised revenue guidance to a range of $23.2-23.5 billion (Zacks consensus had been $23.26 billion) and earnings forecasts of $14-14.25 per share (Zacks consensus $14.02). Shares are trading marginally higher in the after market. For more on AMGN earnings, click here.
MGM Resorts International also posted higher-than-expected numbers for both earnings and sales after today's closing bell, with 24 cents per share well ahead of the 18 cents analysts had been expecting. Revenues of $3.03 billion outpaced the $2.91 billion consensus estimate. Although gaming and non-gaming revenues in the U.S. were lower than expected on additional investments, its China business rose 37% year over year following its Kotai casino opening earlier this year. The company CEO does not offer specific guidance, but does expect 1-2% growth in its Las Vegas business and a new licensing deal in Japan.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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: Facebook, Amgen and MGM Resorts International
For Immediate Release
Chicago, IL – October 31, 2018 – 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 Facebook , Amgen (AMGN - Free Report) and MGM Resorts International (MGM - Free Report) .
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Tuesday’s Analyst Blog:
Facebook Mixed in Q3, Shares Swing to Positive; Plus AMGN, MGM
Facebook outperformed on its headline earnings number for Q3, beating by 30 cents from the Zacks consensus to $1.76 per share, and above the $1.59 in the year-ago quarter. However, revenues missed expectations of $13.81 billion, posting $13.73 billion, but are still up roughly 30% year over year. Shares were immediately trading down on the news, initially by 5% but have now swung to the positive in late trading.
Both Monthly Active Users (MAU) and Daily Active Users (DAU) were down slightly from estimates for the quarter, to 2.27 billion (+10%) and 1.49 billion (+9%) respectively. These figures represent slightly slowing user growth from the +11% growth we saw in both MAU and DAU in Q2. All in all, 2.6 billion users engage in one of Facebook's family of platforms, including Instagram and WhatsApp.
Costs rose 53% for Facebook year over year as headcount grew 45% -- both reflecting a concerted effort for Facebook to address security and account fraud issues. Eyes and ears will be on the upcoming conference call, where a quarter ago the company guided toward revenue deceleration for the first time in the company's publicly traded history. This sent the shares plummeting from all-time highs over the summer, and the stock has yet to recover.
Biopharma giant and Zacks Rank #2 (Buy)-rated Amgen outperformed estimates on both top and bottom lines this afternoon, with $3.69 per share and $5.9 billion easily beating the $3.42 per share and $5.86 billion. The company also raised revenue guidance to a range of $23.2-23.5 billion (Zacks consensus had been $23.26 billion) and earnings forecasts of $14-14.25 per share (Zacks consensus $14.02). Shares are trading marginally higher in the after market. For more on AMGN earnings, click here.
MGM Resorts International also posted higher-than-expected numbers for both earnings and sales after today's closing bell, with 24 cents per share well ahead of the 18 cents analysts had been expecting. Revenues of $3.03 billion outpaced the $2.91 billion consensus estimate. Although gaming and non-gaming revenues in the U.S. were lower than expected on additional investments, its China business rose 37% year over year following its Kotai casino opening earlier this year. The company CEO does not offer specific guidance, but does expect 1-2% growth in its Las Vegas business and a new licensing deal in Japan.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential 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.