Better-than expected retail sales again helped Best Buy defy Wall Street expectations in the third quarter.
Best Buy (BBY) shares surged 8% in premarket trading Thursday to more than $43.50 per share after the Minneapolis-based electronics retailer announced its earnings for August to October period. The stock price is up 32% for the year.
Consumers’ appetites for home theater, smartphones, wearables and connected home products increased revenue up nearly 2% to $8.95 billion over the $8.8 billion in the same period a year ago, beating expectations of $8.85 billion from analysts polled by S&P Global Market Intelligence.
Best Buy reported earnings of 61 cents per share, an increase of 69% over the 36 cents last year, which beat expectations of 47 cents.Net earnings of $198 million compared to $144 million a year ago, beating expectations of $150.3 million.
Hot High Tech Stocks To Invest In 2018: Skyworks Solutions, Inc.(SWKS)
- [By WWW.MONEYSHOW.COM]
We also favor Skyworks Solutions (SWKS), a previous winner in our model portfolio which is expected to end its recent earnings slump in 2017 following the Apple (AAPL), long a staple among our stock picks, has just spurted ahead again. Once as high as $132, it slumped to $90 in 2015 on growth skepticism.
- [By WWW.THESTREET.COM]
But Skyworks (SWKS) reported a remarkable quarter, yet it’s getting hit.
It showed some terrific Internet of Things orders and not just Apple (AAPL) and Samsung, although both are excellent customers in a very big year.
- [By Leo Sun]
If you think that Apple still has room to run, you should also check out three of its top suppliers — Cirrus Logic (NASDAQ:CRUS), Analog Devices (NASDAQ:ADI), and Skyworks Solutions (NASDAQ:SWKS) — which could all be lifted by the tech giant’s rally.
- [By ]
Skyworks (SWKS) and other RF chipmakers have been quick to note that the complexity and stringent technical requirements of 5G radios will increase the dollar content of the RF chips going into phones. But during a Goldman conference talk, CEO Liam Griffin also made the case that 5G’s ability to open up brand-new frequency bands for use will both drive network rollouts and increase Skyworks’ total opportunity.
- [By Lisa Levin] Gainers
Loxo Oncology Inc (NASDAQ: LOXO) rose 32.7 percent to $65.00 in pre-market trading after the company reported that larotrectinib trial demonstrated 76 percent confirmed objective response rate.
Dynavax Technologies Corporation (NASDAQ: DVAX) shares rose 22 percent to $7.20 in the pre-market trading session after the company on Friday presented updated data for SD-101 in combination with KEYTRUDA.
Puma Biotechnology Inc (NASDAQ: PBYI) rose 21.7 percent to $99.75 in pre-market trading as the company disclosed positive PB272 Phase 2 data from TBCRC 022 trial at ASCO17.
Helios and Matheson Analytics Inc (NASDAQ: HMNY) shares rose 20.7 percent to $3.21 in pre-market trading after the company reported that RedZone has acquired all the assets of Trendit including three technology patents.
Forestar Group Inc. (NYSE: FOR) rose 13.1 percent to $16.05 in pre-market trading after D.R. Horton, Inc. (NYSE: DHI) proposed to buy 75 percent of Forestar Group for $16.25 per share in cash.
TG Therapeutics Inc (NASDAQ: TGTX) shares rose 12 percent to $15.50 in pre-market trading after the company said Phase 3 GENUINE trial met primary endpoint with TG-1101 + ibrutinib increasing overall response rate by >70 percent versuss ibrutinib alone.
Gigamon Inc (NYSE: GIMO) gained 10.8 percent to $43.55. Reuters reported that Gigamon is exploring a potential sale.
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) rose 8.7 percent to $6.00 in pre-market trading after the company announced Rapivab pediatric sNDA acceptance by the FDA.
Array Biopharma Inc (NASDAQ: ARRY) rose 7.2 percent to $8.77 in pre-market trading after gaining 5.68 percent on Friday.
Ehi Car Services Ltd (ADR) (NYSE: EHIC) shares rose 6.4 percent to $10.76 in pre-market trading. eHi Car Services posted Q1 earnings of $0.06 on sales of $89.43 million.
Skyworks Solutions Inc (NASDAQ: SWKS) rose 5.9 percent to $114.79 in pre-market trading after gaining 0.69 percent on Friday.
- [By Harsh Chauhan]
More importantly, Apple could build around 120 million new iPhones this year as compared to 89 million units of the iPhone 7/7S in 2016 — according to Mizuho. This is great news for the other companies in Cupertino’s supply chain — such as Skyworks Solutions (NASDAQ:SWKS), Broadcom (NASDAQ:AVGO), and Cypress Semiconductor (NASDAQ:CY) — as they won’t have to wait until the second half of the year to bask in iPhone-driven glory.
Hot High Tech Stocks To Invest In 2018: Adaptimmune Therapeutics plc(ADAP)
- [By Jon C. Ogg]
Adaptimmune Therapeutics PLC (NASDAQ: ADAP) was started with a Market Perform at Wells Fargo.
Aqua America Inc. (NYSE: WTR) was raised to Overweight from Equal Weight and the price target was raised to $36 from $33 (versus a $31.19 close) at Barclays.
Hot High Tech Stocks To Invest In 2018: Cellcom Israel Ltd.(CEL)
- [By WWW.THESTREET.COM]
That’s why Cramer said he’ll be listening for news coming from Celgene (CEL) , Amgen (AMGN) , Allergan (AGN) , an Action Alerts PLUS holding, and Regenron (REGN) , all of which are set to present. Of the four, Cramer said he’s sticking with Allergan and Amgen.