After some bumpy trading based on valuation concerns, shares of Nvidia Corporation (NASDAQ:NVDA) have rebounded, gaining 12% from lows earlier this month. Two-thirds of the gains in NVDA stock have come since the surprising acquisition of Mobileye NV (NYSE:MBLY) by Intel Corporation (NASDAQ:INTC). That deal was of tremendous importance to Nvidia, given its competition with Mobileye in automotive applications. And, for now anyway, investors appear to see the INTC-Mobileye tie-up as good news for Nvidia and for NVDA stock.
I’m not quite so optimistic. There are reasons to see Intel’s entrance into automotive as a positive for NVDA stock and as a negative.
stock market results: United Technologies Corporation(UTX)
- [By Todd Shriber, ETF Professor]
At the sector-level, SPHQ defines quality via a combined 60 percent allocation to industrial, technology and consumer staples stocks. Seven of the ETF's top 10 holdings are members of the Dow Jones Industrial Average, including Home Depot Inc (NYSE: HD), Procter & Gamble Co (NYSE: PG) and United Technologies Corporation (NYSE: UTX).
- [By Paul Ausick]
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was United Technologies Corp. (NYSE: UTX) which traded up 2.23% at $117.90. The stock’s 52-week range is $97.62 to $124.79. Volume was about 50% above the daily average of around 2.7million shares. The company had no specific news.
- [By Paul Ausick]
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was United Technologies Corp. (NYSE: UTX) which traded up 2.27% at $117.88. The stock’s 52-week range is $115.81 to $124.79. Volume was about equal to the daily average of around 3.3 million shares. The company had no specific news.
- [By Ben Levisohn]
United Technologies (UTX) has managed quite a feat today, dropping while the market–and industrial stocks–are soaring. Lukewarm earnings will do that.
Pratt and Whitney PurePower PW1100G-JM engines Agence France-Presse/Getty Images
United Technologies reported a profit of $1.56, meeting analyst forecasts, on sales of $14.7 billion, also meeting the Street consensus. It also backed its forecast, given a month ago, that it expected to report a profit of $6.30 to $6.60 a share. in 2017, while analysts were expected $6.56 a share. That clearly wasn’t enough for investors.
It was for CFRA Research’s Jim Corridore, however, who kept his Buy rating on United Technologies. He explains why:
We raise our 12-month target price by $5 to $124, 18.9X our ’17 EPS estimate of $6.56 (cut today from $6.80), in line with United Technologies’ five year average. We initiate our ’18 EPS estimate at $7.09.United Technologies Q4 adjusted EPS of $1.56 vs. $1.53 was in line with the Capital IQ consensus on slightly lower revenues than we were expecting. Organic revenues were tepid, but we expect acceleration as we move through ’17.United Technologies guides to ’17 EPS of $6.30-$6.60 on 1%-3% revenue growth. We likeUnited Technologies’ free cash generation and intended use of that cash for buybacks and acquisitions.
Shares of United Technologies have dropped 1% to $110.54 at 2:49 p.m. today, while the Industrial Select Sector SPDR ETF (XLI) has gained 1.1% to $64.39.
stock market results: North American Energy Partners, Inc.(NOA)
- [By Lisa Levin]
In trading on Tuesday, energy shares slipped by 1.36 percent. Meanwhile, top losers in the sector included Northern Oil & Gas, Inc. (NYSE: NOG), down 9 percent, and North American Energy Partners Inc.(USA) (NYSE: NOA), down 6 percent.
stock market results: Richmont Mines, Inc.(RIC)
- [By Sally Jones]
Richmont Mines Inc. (RIC)
Down 70% over 12 months, Richmont Mines Inc. has a market cap of $56.23 billion, and trades with a P/B of 0.60.
stock market results: Unifi, Inc.(UFI)
- [By Lisa Levin]
Unifi, Inc. (NYSE: UFI) shares were also up, gaining 18 percent to $26.92 as the company announced Q3 earnings of $0.56 per share on revenue of $161.3 million.
stock market results: Kelly Services Inc.(KELYA)
- [By David Milstead]
One such outfit is Kelly Services (KELYA). The Troy, Mich., company places temporary employees in a variety of fields, such as law, health care, computing and finance. Although recent job reports have been strong, S&P Capital IQ analyst Michael Jaffe sees employers remaining cautious in their hiring practices and using the kind of temporary workers Kelly specializes in. Jaffe says Kelly is his top pick in the staffing sector, and he rates the stock a strong buy.
- [By Monica Gerson]
Kelly Services, Inc. (NASDAQ: KELYA) is projected to report its quarterly earnings at $0.28 per share on revenue of $1.35 billion.
Silver Standard Resources Inc. (USA) (NASDAQ: SSRI) is expected to post a quarterly loss at $0.02 per share on revenue of $96.25 million.
stock market results: Sonic Automotive Inc.(SAH)
- [By Lee Jackson]
These companies also reported insider buying last week: Armour Residential REIT Inc. (NYSE: ARR), Ducommun Inc. (NYSE: DCO), PJT Partners Inc. (NYSE; PJT), Sonic Automotive Inc. (NYSE: SAH)and Tandy Leather Factory Inc. (NASDAQ: TLF).