Stock Markets

Investing.com’s stocks of the week

Published

2 months ago

November 3, 2024

Investing.com — With earnings well underway and the U.S. election fast approaching, there has been lots to talk about in markets this week, with various big names making significant moves. Here are Investing.com’s stocks of the week:

Big Tech (Earnings): Microsoft (NASDAQ:) disappoints, Amazon (NASDAQ:) Up

Microsoft reported its latest quarterly earnings on Wednesday. The tech giant posted an earnings and revenue beat. However, the stock dropped more than 6% in the following session as the company said it sees a slight deceleration in the next quarter given supply chain challenges, such as delays in third-party infrastructure for AI capabilities.

“While Azure growth for the September Q was 1pt above guidance, we think investors will be modestly disappointed with the Azure December Q rev guide, even though supply/demand imbalance is impacting the December Q more so than the September Q,” said analysts at BMO Capital. “Given lower EPS estimates, largely due to the impact of OpenAI, we are modestly lowering our target price to $495. We retain our Outperform rating.”

Meanwhile, Amazon shares jumped by 6.7% Friday after reporting an earnings and revenue beat, with improving retail sales boosting profits.

Following the report, Citi analysts said they are “incrementally confident that the company can invest in growth while delivering significant margin expansion.”

“We highlight Retail efficiency gains lowering Amazon’s cost to serve, resulting in faster delivery, boosting conversion rates, and wallet share gains as lower ASP / essential products attract greater overall spend,” added the bank.

Apple (NASDAQ:) also reported earnings this week, topping earnings and revenue expectations. However, its stock fell on Friday as investors were disappointed with its guidance.

SMCI

It was another awful week for SMCI, which dropped more than 32% on Wednesday after the abrupt resignation of Ernst & Young LLP (EY) as the company’s registered public accounting firm.

In a filing with the U.S. Securities and Exchange Commission (SEC), Super Micro disclosed that EY submitted its resignation on October 24.

EY concluded that it would “no longer be able to rely on management’s and the Audit Committee’s representations” and expressed unwillingness to be associated with the financial statements.

SMCI shares have cratered more than 41% in the last week. On Friday, at the time of writing, the stock is down over 6%.

Reacting to the news, Rosenblatt suspended its rating for the stock, citing financial uncertainty. “Given the uncertainty surrounding the company’s financials, we are suspending our rating, price target, and estimates on Super Micro until we have an outcome that can determine our recommendation,” said the firm.

Estee Lauder (NYSE:)

It was also not a good week for beauty company Estee Lauder, which plunged 20% Thursday and is down a further 2% on Friday after the company reported a revenue miss and withdrew its fiscal 2025 outlook amid ongoing challenges in China and travel retail.

The company said it withdrew the fiscal 2025 outlook on “incremental uncertainty on [the] timing of stabilization in Mainland China market and Asia travel retail as well as in the context of leadership changes.”

Furthermore, the company also announced a cut to its quarterly dividend, while its F2Q outlook was below expectations.

Following the report, JPMorgan downgraded Estee Lauder to Neutral and lowered its target for the stock to $74 from $113. The bank stated: “We don’t expect to receive any visibility for at least another three months or so.

“Because of the operating deleverage from lower than expected volumes in China and Asia Travel Retail, the execution of the plan and returns will likely be delayed, and as such, we believe it is prudent to advise investors to wait for better signs of improvement in demand.”

Stock Markets

BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman

Published

9 hours ago

December 26, 2024

San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.

Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895

BioAge Labs, Inc. (BIOA) Investigation:

The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”

BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.

This news drove the price of BioAge shares down almost 80% on December 9, 2024.

“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »

Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182

Stock Markets

Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman

Published

9 hours ago

December 26, 2024

CELH Investors with Losses Encouraged to Contact the Firm

San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).

Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.

Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895

Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):

The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:

Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated

The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.

The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.

These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.

“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.

# # #

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180

Stock Markets

Suriname fugitive ex-President Desi Bouterse dead at 79

Published

9 hours ago

December 26, 2024

By Ank Kuipers

PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.

“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.

The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.

Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.

“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.

Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.

In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.

Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.

Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.

Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.