The week starts with investors watching Kenvue (KVUE) following through with last week’s rally. Shares bottomed at $14.22 and closed at $15.29, up by 8.36%. Investors are betting that the lawsuit in the U.K. against it and Johnson & Johnson (JNJ) will not get far.
J&J stopped selling talc-based baby powder in 2020. Kenvue said that the baby powder did not have asbestos and does not cause cancer.
American Express (AXP) closed near its 52-week high last week. AXP stock jumped by 7.27% after posting Q3 results. Management said that the company launched a consumer and business platinum quarter in the period. Customer demand and engagement surpassed its expectations.
Gold slumped after the rally lasted several months. This pulled Newmont (NEM) down by 7.63% last Friday. NEM stock has a history of selling off after a sharp rally.
In the AI sector, Oracle (ORCL) failed to revisit its all-time high. The company is forecasting its annual earnings per share to top $21 by fiscal 2030. This is almost $3.00 above consensus estimates.
Vistra (VST) is having trouble breaking out from its $200 support zone. It has held this price since early July. TD Cowen picked Vistra and PG&E (PCG) as its top picks in the power and utility sector.
Vistra benefits from the growth in electricity demand, outpacing new generation power coming online.
