Nasdaq Markets

(RTTNews) - California investigators have concluded that the Kincade Fire in Sonoma County last October was caused by electrical transmission lines owned and operated by PG&E.

(RTTNews) - Indian shares are likely to open higher on Friday despite weak global cues on worries over surging coronavirus cases and simmering U.S.-China tensions.

Image source: The Motley Fool.

(RTTNews) - Apple said that it will open the new Apple Sanlitun store on Friday in China. It is located in the Taikoo Li mall in Beijing and will replace the company's first store in China.

(RTTNews) - The Thai stock market moved lower again on Thursday, one day after ending the two-day slide in which it had fallen more than 20 points or 1.7 percent. The Stock Exchange of Thailand now rests just beneath the 1,350-point plateau and it may take further damage again o

(RTTNews) - The Indonesia stock market bounced higher again on Thursday, one day after it had ended the two-day winning streak in which it had picked up almost 50 points or 1 percent. The Jakarta Composite Index now rests just beneath the 5,100-point plateau although it may run

(RTTNews) - The Japanese stock market slipped into negative territory on Friday after opening higher despite the weak cues overnight from Wall Street on worse-than-expected weekly jobless claims data.

(RTTNews) - The Australian stock market has pared initial gains after rising on Friday despite the weak cues overnight from Wall Street on worse-than-expected weekly jobless claims data. Investors remained cautious amid the rising number of coronavirus cases worldwide.

(RTTNews) - Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF) reported that its second-quarter pilbara iron ore shipments was 86.7 million tonnes on 100% basis, up 1% from last year, despite the impact of COVID-19 related operational controls.

(RTTNews) - The Hong Kong stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had gathered more than 230 points or 0.9 percent. The Hang Seng Index now rests just above the

(RTTNews) - The China stock market has finished lower in three straight sessions, sliding more than 230 points or 6.7 percent along the way. The Shanghai Composite Index now sits just above the 3,210-point plateau and it's looking at a soft lead for Friday's trade.

Earnings season is almost in full swing — and a range of notable names are lined up to report results. One worth watching is none other than Amazon (AMZN), which will post its quarterly figures on Thursday, July 23.  

The stakes are high for the e-commerce giant, as its stock has been soaring over 60% so far this year. Can the company’s latest results live up to expectations? Cowen analyst John Blackledge expects Amazon to march on defiantly when it reports 2Q earnings on July 23.

“We expect strong 2Q20 results with Revenue & Operating Income above high end of guide range. Key revenue drivers include AWS, Advertising, Subscription, & accelerating eCom growth (+29% year-over-year vs. +17% year-over-year in 2Q19) given continued COVID-19 demand surge. Our 2Q20 Operating Income forecast is driven by AWS, Ad biz & 3P mix shift offset by COVID investments,” Blackledge said.

And that’s not really much of a surprise. If any company has been COVID proof, it has been the e-commerce giant. The surge in demand during the pandemic’s initial wave has been well documented and with the virus still amongst us, it is safe to say demand for Amazon’s services won’t decelerate any time soon.

That said, Amazon’s expenses have also increased significantly during the period. These will act as a costly counterpoint to the increased sales, as spending on infrastructure, workers’ safety, extra pay, and an expanded workforce are sure to impact the bottom line.

Despite an outlay expected to reach $4 billion, Blackledge expects “investors to look past the 2Q investments in COVID-19 related expenses.”

Overall, for 2Q20, the 5-star analyst calls for revenue of $81.3 billion, a 28% year-over-year increase and above the high end of Amazon’s guidance of between $75 billion to $81 billion. The estimate is also 0.8% above consensus.

Blackledge expects a beat on operating income, too, forecasting $2.1 billion, down 32.8% year-year-year, but still 38% above the high end of Amazon’s guidance of $1.5 billion. The figure is also way higher than the consensus estimate of $952 million.

Accordingly, Blackledge reiterated an Outperform (i.e. Buy) rating on Amazon and increased the price target from $2,750 to $3,700 – Wall Street’s most optimistic target right now. The figure implies upside potential of 26% in the year ahead. (To watch Blackledge’s track record, click here)

The sentiment remains bullish among Blackledge’s colleagues. Based on 2 Holds, a lone Sell, and a resounding 37 Buys, Amazon has a Strong Buy consensus rating. Surprisingly, the analysts expect shares to decline by 1%, based on the $2,980.47 average price target. (See Amazon stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

(RTTNews) - The Taiwan stock market has finished lower in three straight sessions, falling almost 55 points or 0.5 percent in that span. The Taiwan Stock Exchange now sits just above the 12,155-point plateau although it's called lower again on Friday.

Image source: The Motley Fool.

(RTTNews) - The Singapore stock market headed south again on Thursday, one session after it had ended the three-day losing streak in which it had stumbled almost 50 points or 1.9 percent. The Straits Times Index now rests just beneath the 2,625-point plateau and it may open unde

(RTTNews) - The Malaysia stock market has finished lower in three straight sessions, sinking more than 30 points or 2 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,575-point plateau and it may take further damage on Friday.

F.N.B. (FNB) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.

The tech surge has appeared limp lately, with hints a possible trend reversal might be on the way. But Apple (AAPL) stock is having none of it – yet. Along with the share price reaching new milestones on an almost daily basis, the giant from Cupertino is rewarded with another boost from Wall Street’s analyst corps.

Joining the fray, Merrill Lynch analyst Wamsi Mohan bumped up his price target for Apple from $390 to $410, implying modest potential upside of 6% from current levels. No change to Mohan’s rating, which remains a Buy. (To watch Mohan’s track record, click here)

So, why amid a pandemic, which has resulted in a contracting economy and high unemployment rates, does Apple’s share price keep soaring? On a fundamental level, Mohan believes several “improving trends” are helping to fuel the surge.

Among these Mohan counts “continued strong App store revenue growth.” Based on third part data, in fiscal 3Q, App Store revenue increased by 30% year-over-year, while overall in fiscal 2020, App Store sales are up by 23% compared to last year.

Mohan adds to the list “lower iPhone channel inventory,” and the fact that Apple’s trade-in prices are lower than those of third parties, indicating to Mohan that “near term demand is robust enough and does not need incremental incentives.”

Additionally, a Merrill Lynch smartphone survey revealed Apple fans displayed strong brand loyalty, with the iPhone representing the “stickiest” of all smartphone brands. This is hardly surprising for a brand boasting hardcore fans known to queue overnight outside of Apple stores before a new product launch.

However, the fundamental analysis doesn’t tell the whole story. Mohan argues investors view Apple as a safe place to park their cash for another set of reasons.

These include, “(1) a liquid investment to weather an uncertain environment, (2) a tech “story” stock with a catalyst of 5G, (3) a large cap tech name relatively less exposed to the regulatory risks (including recent EU tax related litigation win), (4) a beneficiary of passive inflows, and (5) an alternative to low rates.”

Apple has plenty of support from the rest of the Street, too. AAPL's Strong Buy consensus rating is based on 25 Buy ratings, 6 Holds and 1 Sell. On the other hand, the $368.19 average price target indicates the analysts expect shares to drop by nearly 5% from current levels. (See Apple stock analysis on TipRanks)

To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

The latest update on U.S. manufacturing output has pleased investors. Per the Federal Reserve’s recently-released data, industrial production, including output at factories, mines and utilities, rose 5.4% month over month, reflecting the highest monthly gain since 1959. Moreov

Image source: The Motley Fool.