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5 Stocks to Watch Today: Sunrun, U.S. Bancorp, Alphabet, AT&T

Sunrun's stock dropped 8.6% after the company was downgraded to equal weight from overweight by Barclays.

January 25, 2023
3 minutes
minute read

News Corp and Fox News both saw stock prices rise after Rupert Murdoch called off plans to merge the two companies. News Corp rallied 5.4%, while Fox News gained more than 2%.

AT&T reported more wireless subscribers than expected for the fourth quarter, sending the stock up 5.4%. The telecommunications giant has been facing increased competition from the likes of Verizon and T-Mobile, but this latest report suggests that AT&T is still holding its own.

Boeing reported a loss for the fourth quarter and revenue that missed expectations, citing labor and supply strains that overshadowed an increase in jet demand. The company's stock fell slightly in response. Boeing is facing challenges with labor and supply strains, but jet demand is increasing. This mixed picture caused the stock to fall slightly.

Sunrun's stock dropped 8.6% after the company was downgraded to equal weight from overweight by Barclays. The downgrade was based on a potential slowdown in solar demand. SunPower, another solar company, was downgraded to underweight from equal weight, and its stock dropped more than 2%.

Alphabet's shares fell 3.3% in midday trading on Thursday, a day after the Justice Department filed a second antitrust lawsuit against the company. Alphabet also laid off 1,800 employees in California on Wednesday as part of the larger cuts announced last week.

Enphase Energy's stock fell 5.3% after Piper Sandler downgraded it to neutral from buy. The firm cited a potential reset in the U.S. residential solar market coming this year that could hurt shares despite noting the company's strong product and management.

U.S. Bancorp's stock rose 5.7% after the company reported fourth-quarter earnings of $1.20 per share, excluding items, which was higher than the $1.12 per share expected by analysts. However, revenue for the quarter fell short of estimates.

Intuitive Surgical's shares fell 6.6% after the company reported fourth-quarter earnings and revenue that missed expectations. The company blamed a resurgence of Covid-19 in China for lower-than-expected procedure volumes in the region.

Capital One Financial reported disappointing quarterly results, but still rallied 7%. The company built credit reserves by $1 billion in the fourth quarter, which is twice that of its peers. BMO Capital Markets applauded the company for doing what its peers have not done so far this earnings season.

Nasdaq's stock fell more than 6.9% after the company reported net revenue of $906 million, missing the $909.5 million expected by analysts. Earnings also narrowly missed expectations.

General Dynamics' fourth-quarter earnings missed expectations, although its revenue beat estimates. The aerospace and defense company also said its 2023 fiscal year earnings per share guidance is $12.60-$12.65, versus the $13.87 expected by StreetAccount.

Block fell 4.2% after Oppenheimer downgraded the stock to perform from outperform. The firm said the mobile payments stock would be a first mover in a risk on environment, but expects stocks have yet to see a bottom. Oppenheimer said that the recent SQ rally could evaporate.

Airbnb's shares fell 1.6% after Gordon Haskett's analysts downgraded the company from "hold" to "underperform." The analysts said that Wall Street's estimates for Airbnb are too aggressive.

NextEra Energy's stock dropped 6.1% after the company reported fourth quarter revenue that missed expectations.

Cathy Hills
Associate Editor
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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