Goldman Sachs has released its November "U.S. conviction list," featuring 25 stocks that the brokerage believes are the most differentiated fundamental "buy" ideas across the market. The list includes new additions Simon Property Group (SPG, Financial) and Boeing Co. (BA, Financial), along with other stocks such as Bath & Body Works (BBWI, Financial), WW International (WW, Financial), American International Group (AIG, Financial), and Jefferies Financial Group (JEF, Financial).
Qualcomm (QCOM, Financial) reported Q4 Non-GAAP EPS of $2.02, beating estimates by $0.11. Revenue of $8.67B, down 23.9% Y/Y, also beat estimates by $150M. The company's shares rose in extended-hours trading after posting fourth-quarter results and guidance that topped expectations.
The Federal Reserve held interest rates steady as widely anticipated. However, chair Jerome Powell did not rule out further rate hikes and said that the central bank would take it meeting by meeting. The Federal Open Market Committee kept its policy rate at 5.25%-5.50% for the second straight meeting and the third time this year.
More than 15 million Americans have received updated COVID-19 shots as of Oct. 27, according to the Department of Health and Human Services. The FDA has approved three updated COVID-19 vaccines for this year’s vaccination season, including those marketed by Pfizer (PFE, Financial)/ BioNTech (BNTX, Financial), Moderna (MRNA, Financial), and Novavax (NVAX, Financial).
Data analytics provider Palantir Technologies (PLTR, Financial) is set to report its third-quarter results on Thursday, November 2. Analysts expect earnings per share of 6 cents for the quarter, which would mark a six-fold increase year-over-year, on revenues of $555.92 million.
The U.S. Securities and Exchange Commission is probing Wells Fargo's (WFC, Financial) cash sweep options for investment advisory clients. The bank disclosed this in a recent SEC filing.
Six Flags (SIX, Financial) is said to be nearing a deal to merge with Cedar Fair Entertainment (FUN, Financial). A deal between the two may be finalized as soon as this week, according to a WSJ report on Wednesday.
The U.S. antitrust lawsuit against Alphabet (GOOG, Financial) (GOOGL, Financial) is starting to get to Barclays. Analysts at the investment firm are growing increasingly concerned about the strength of the case against Google.
The Association of American Railroads [AAR] reported on Wednesday that for the week ending October 28, 2023, U.S. rail traffic was 499,389 carloads and intermodal units, down 1.2% year-over-year.
BTIG argued on Wednesday that shares of Nvidia (NVDA, Financial) have broken a key support level at $400. The breakthrough of the technical level suggests that NVDA can potentially see at least a 10% further downside move.
