In mid-week trading and ahead of the Federal Reserve announcing its interest rate policy, investors have several hot stocks to watch.
Visa (V) shares traded near their highs ahead of the earnings report. In the fourth quarter, Visa posted revenue growth of $12.9% Y/Y to $12.1 billion. It earned $3.49 non-GAAP per share.
The credit card giant posted transaction volume growth, particularly in cross-border volume. As a result of the strong results, the board of directors hiked the quarterly cash dividend by 16% to $0.78 per share.
NXP Semiconductors (NXPI) traded like a hot stock ahead of the earnings report. But shares risk slipping by over 5% this morning. The firm posted revenue of $3.79 billion (+19.6% Y/Y). More importantly, the Board of Directors authorized a $5 billion stock buyback. That adds to its prior authorization of $1.3 billion.
Robinhood (HOOD) will also lose its bounce-back momentum. Shares fell by 7.6% in after-hours trading after the company posted Q3 non-GAAP of $0.60. Revenue of $1.42 billion (+11.8% Y/Y) might look underwhelming at first. However, the platform gained market share, driven by active trader engagement at new highs.
Robinhood’s predictions market is a tremendous opportunity for future growth.
Stocks comparable to that of HOOD stock include SoFi Technologies (SOFI), Charles Schwab (SCHW), and Interactive Brokers (IBKR).
