The most actively traded stocks last Friday will continue in Monday’s market. Meta platforms (META), Nvidia (NVDA), and AMD are the popular technology favorites that will lead the indices.
The laggards today include Intel (INTC), which WSJ reported would delay its $20 billion chip facility in Ohio. The CPU supplier already disappointed its shareholders with a weak quarterly report and a disappointing outlook.
Automotive giant Ford (F) broke out last week to close at $12.14. F stock lacks any bullish catalysts as consumers avoid its expensive electric vehicles. Still, GM’s strong Q4 report will lift Ford’s share price.
In the value category, income investors will make the mistake of chasing Pfizer (PFE). PFE stock lost 38.5% in the last year. Its dividend now yields 6.16%.
Stocks that traded at a new high include Arista Networks (ANET), Trane (TT), and Cigna (CI). Cigna increased its profit forecast, enabling it to raise its dividend by 14% to $1.40 a share. The firm reported revenue rising by 11.7% Y/Y to $51.11 billion. It earned $6.79 in the fourth quarter.
Trane, often overlooked, posted revenue growing by 8.6% to $4.42 billion. It posted a strong 2024 revenue growth forecast for 2024 of around 7% to 8%. The stock has poor valuations, offset by strong growth, profitability, momentum, and bullish analyst earnings revisions.
