US Stocks Poised For Cautious Start As Geopolitical Tensions, Nvidia Earnings Keep Investors Cautious: Tech Bull Expects AI Bellwether To Deliver 'Drop The Mic Performance'
U.S. stocks could open on a tentative note on Wednesday amid simmering geopolitical tensions. Futures of all three major indices were marginally up as investors weighed escalating tensions between Russia and Ukraine, and earnings from AI bellwether Nvidia Corp. NVDA.
U.S. equity markets have had a mixed week so far, with the Dow Jones facing pressure even as the S&P 500 and Nasdaq witnessed sideway movements.
| Futures | Change (+/-) |
| Nasdaq 100 | 0.11% |
| S&P 500 | 0.12% |
| Dow Jones | 0.19% |
| R2K | -0.09% |
In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust SPY rose 0.13% to $591.05 and the Invesco QQQ ETF QQQ gained 0.10% to $503.96, according to Benzinga Pro data.
Cues From Last Session:
Markets had a second consecutive mixed session, with the Dow Jones closing lower by 0.3% while the S&P 500 edged up. The Nasdaq gained over 1% in the run-up to Nvidia’s earnings.
Crude oil prices continued to gain as Russia-Ukraine tensions escalated.
This geopolitical anxiety rubbed off on treasury yields as well, which edged up.
On the economic data front, housing starts in the U.S. declined by 3.1% to 1.311 million in October versus a revised 1.353 million in the previous month. U.S. building permits declined by 0.6% to an annual rate of 1.416 million in October.
Most sectors on the S&P 500 closed on a positive note, with energy, communication services, and consumer discretionary stocks recording the biggest gains on Monday.
However, industrial stocks bucked the overall market trend, closing the session lower.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | 1.04% | 18,987.47 |
| S&P 500 | 0.40% | 5,916.98 |
| Dow Jones | -0.28% | 43,268.94 |
| Russell 2000 | 0.80% | 2,324.83 |
Insights From Analysts:
Wedbush’s Dan Ives expressed upbeat sentiment about Nvidia’s earnings, saying that the AI giant could deliver earnings beat and raise guidance as well.
“We expect a drop the mic performance from Nvidia tomorrow night as Godfather of AI Jensen & Co. are the only game in town with $1 trillion of AI Cap-Ex on the way with Nvidia’s GPUs the new oil and gold in this world.”
While there is optimism among analysts about Nvidia and other AI stocks, the European Central Bank expressed caution about the possibility of an “AI bubble.”
“This concentration among a few large firms raises concerns over the possibility of an AI-related asset price bubble,” the ECB said in its latest Financial Stability Review, underscoring the increasing dependence of the equity markets on select companies.
This could also be a cause of concern for equity markets beyond the U.S., noted the ECB.
“Also, in a context of deeply integrated global equity markets, it points to the risk of adverse global spillovers, should earnings expectations for these firms be disappointed.”
Ryan Detrick, chief market strategist at Carson Group, on the other hand, remained optimistic about equity markets.
“Stocks historically do better in years 1 and 2 of a President who was re-elected vs a new President in office.”
“We are in the third year of this bull market and it is worth noting these years can be on the weaker side of things. Good news is if the bull continues (as we expect) years 4-6 are all quite strong,” he added.
See Also: How To Trade Futures
Upcoming Economic Data
Wednesday’s economic calendar is fairly light.
- Fed Gov. Lisa Cooks will speak at 11 a.m. ET.
- Fed Gov. Michelle Bowman will speak at 12:15 p.m. ET.
Stocks In Focus:
- Nvidia Corp. NVDA stock edged up 0.3% in premarket trading on Monday after gaining 4.9% on Tuesday.
- MicroStrategy Inc. MSTR stock surged nearly 12% on Tuesday and gained another 2.7% in premarket trading on Wednesday after Bitcoin BTC/USD continued to chalk gains.
- Comcast Corp. CMCSA is expected to spin off its TV cable channels into separate publicly traded companies. Its stock rose 2.4% in premarket trading.
- Super Micro Computer Inc. SMCI stock fell over 4% in premarket trading after surging more than 31% on Tuesday after appointing a new auditor and submitting a plan to comply with the Nasdaq’s listing requirements.
- Nio Inc. NIO was down by 1.5% in premarket trading after the Chinese EV player reported widening losses due to intense competition.
- Target Corp. TGT fell over 18% in premarket trading after the company posted $1.85 earnings per share in the third quarter, well below Street expectations of $2.30.
- Investors are awaiting earnings results from Nvidia Corp. NVDA today. Palo Alto Networks Inc. PANW, Snowflake Inc. SNOW, and The TJX Companies, Inc. TJX today.
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, rising by 0.53% to hover around $69.61 per barrel.
The 10-year Treasury note yield increased to 4.426%.
Major Asian markets ended mixed on Wednesday, while European markets witnessed sideways movement in early trading.
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Dycom Industries Posts Strong Q3 Results: EPS Beats Estimates By 14%
Dycom Industries, Inc. DY shares are trading higher after the company reported its third-quarter FY25 results.
Contract revenue increased 12.0% Y/Y to $1.272 billion, beating the consensus of $1.231 billion.
Adjusted EBITDA increased to $170.7 million from $143.2 million a year ago. Adjusted EPS of $2.68 surpassed the street view of $2.35.
As of October 26, cash and equivalents stood at $15.3 million. During the nine months ended October 26, the company bought back 210,000 shares of common shares in open market transactions for $29.8 million.
Outlook: For the fourth quarter, Dycom anticipates a mid- to high single-digit percentage increase in total contract revenues, which included the company expectation of around $35 million of acquired contract revenues for the quarter.
Adjusted EBITDA margin is projected to increase by about 25 basis points Y/Y.
Investors can gain exposure to the stock via First Trust RBA American Industrial Renaissance ETF AIRR and Hilton Small-MidCap Opportunity ETF SMCO.
Price Action: DY shares are up 3.06% at $209 premarket at the last check Wednesday.
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Walmart To Rally More Than 15%? Here Are 10 Top Analyst Forecasts For Wednesday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
- Macquarie boosted the price target for Trip.com Group Limited TCOM from $75.4 to $80.8. Macquarie analyst Ellie Jiang maintained an Outperform rating. Trip.com shares closed at $62.74 on Tuesday. See how other analysts view this stock.
- RBC Capital increased the price target for Northern Oil and Gas, Inc. NOG from $43 to $45. RBC Capital analyst Scott Hanold downgraded the stock from Outperform to Sector Perform. Northern Oil and Gas shares closed at $41.08 on Tuesday. See how other analysts view this stock.
- Chardan Capital raised Arbutus Biopharma Corporation ABUS price target from $4.5 to $5. Chardan Capital analyst Keay Nakae maintained a Buy rating. Arbutus Biopharma shares settled at $3.49 on Tuesday. See how other analysts view this stock.
- HC Wainwright & Co. cut Super League Enterprise, Inc. SLE price target from $3 to $2. HC Wainwright & Co. analyst Scott Buck maintained a Buy rating. Super League Enterprise shares closed at $0.6811 on Tuesday. See how other analysts view this stock.
- Jefferies slashed AeroVironment, Inc. AVAV price target from $240 to $230. Jefferies analyst Greg Konrad upgraded the stock from Hold to Buy. AeroVironment shares closed at $194.89 on Tuesday. See how other analysts view this stock.
- JP Morgan boosted Energizer Holdings, Inc. ENR price target from $32 to $39. JP Morgan analyst Andrea Teixeira upgraded the stock from Underweight to Neutral. Energizer shares closed at $37.25 on Tuesday. See how other analysts view this stock.
- Telsey Advisory Group boosted the price target for Walmart Inc. WMT from $92 to $100. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating. Walmart shares settled at $86.60 on Tuesday. See how other analysts view this stock.
- Rosenblatt boosted Fortinet, Inc. FTNT price target from $90 to $100. Rosenblatt analyst Catharine Trebnick maintained a Buy rating. Fortinet shares closed at $90.79 on Tuesday. See how other analysts view this stock.
- Rosenblatt increased the price target for Dolby Laboratories, Inc. DLB from $98 to $100. Rosenblatt analyst Steven Frankel maintained a Buy rating. Dolby shares closed at $70.91 on Tuesday. See how other analysts view this stock.
- Baird boosted Keysight Technologies, Inc. KEYS price target from $163 to $180. Baird analyst Richard Eastman maintained an Outperform rating. Fortinet shares closed at $152.13 on Tuesday. See how other analysts view this stock.
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Metastatic Colorectal Cancer Market Forecast to Reach US$ 9,787.5 Million by 2034, Growing at 5.1% CAGR | Fact.MR Report
Rockville, MD, Nov. 20, 2024 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global metastatic colorectal cancer market is estimated to reach a valuation of US$ 5,951.7 million in 2024 and is expected to grow at a CAGR of 5.1% during the forecast period of (2024 to 2034).
In 2023, WHO states, colorectal cancer stands third most common cancer across the world. It accounts for 10% of overall cancer and is second most fronting cause of death globally. Colorectal cancer metastasis is a progressive and destructive cancer where the cancer cells spreads from the colon i.e. the actual site and rectum to other body organs.
Recent advancements and step-ups in molecular diagnostics further create a paradigm shift in treating mCRC (metastatic colorectal cancer). Liquid biopsy and Next-generation sequencing are standards of developments in diagnostics that allow the oncologist to pinpoint genetic mutations promoting the cancer and to develop appropriate treatment strategies.
Increasing investments in oncology care attribute to the boost in market expansion, especially in emerging markets like China and India, due to their still-developing healthcare infrastructures. In this respect, targeted therapies have become an extremely valuable tool in the treatment of mCRC since they allow much more personalized regimens, which destroy cancerous cells, with significantly less effect on healthy tissue. Indeed, various immuno-oncological treatments using the body’s immune system in the fight against cancer have proved very effective, especially in certain subtypes like colorectal cancers with MSI-H tumors. Another promising aspect is combination therapies, an integration of chemotherapy, radiation, and surgery with modern therapeutic modes-these indeed find their increasing adoption due to their efficiency in the management of complex cases.
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Key Takeaways from Market Study
- The global metastatic colorectal cancer market is projected to grow at 1% CAGR and reach US$ 9,787.5 million by 2034
- The market created an opportunity of US$ 843.2 million growing at a CAGR of 1% between 2019 to 2024
- North America is a prominent region that is estimated to hold a market share of 1% in 2034
- Predominating market players include Pfizer, Sanofi, and Bristol-Myers Squibb Co
- Multi dose administration under therapy type are estimated to grow at a CAGR of 9% creating an absolute $ opportunity of US$ 3,482.3 million between 2024 and 2034
“Introduction of new targets and better survival has come with breakthrough advances in metastatic colorectal cancer therapies. New hope has been given to metastatic colorectal cancer patients with state-of-the-art immunotherapeutic solutions” says a Fact.MR analyst.
Leading Players Driving Innovation in the Metastatic Colorectal Cancer Market:
Key industry participants like Pfizer; Sanofi; Taiho Pharma; Ono Pharma; Hutchison Medipharma; Isofol Medical; Sumitomo Dainippon Pharma; G1 Therapeutics; Merck & co; Bristol-Myers Squibb Co; Daiichi Sankyo/Astrazeneca; Eli Lilly and Company; Mirati Therapeutics; Cardiff Oncology; Abbott Laboratories; Epigenomics AG; Other Prominent Players are driving the metastatic colorectal cancer industry.
Market Development
Indeed, this has been in the news lately, where BMS (Bristol Myers Squibb) strategies to expand its clinical trial program for a new combination therapy treatment intended at increasing patient response rates and survival rates of mCRC patients. The trial is expected to create new opportunities for treating patients with advanced stages of colorectal. Later, the company announced a strategic collaboration with Bayer to co-develop a targeted therapy regimen for patients suffering from mCRC that is expected to launch in 2026.
The FDA approval of Entrectinib to treat mCRC patients with specific genetic mutations became yet another important milestone in the availability of targeted therapies for such an aggressive form of cancer. Current market developments signal continuous innovation and investment in the metastatic colorectal cancer treatment space and hence indicate strong growth prospects for the industry.
The focus of industry growth over the next five years are based on overall increase in Market Share i.e. by 30% by the well-known pharmaceuticals companies, with their new launches of more efficient treatment options-especially targeted and immunotherapy-are targeting big hikes in market share. This shall further be inclusive of increased efforts toward the development of emerging market opportunities in Latin America and Southeast Asia.
Therefore, industry leaders look forward to enhancing their investments in R&D by focusing on identifying new biomarkers and developing new treatment protocols that will involve expansion of clinical trials and regulatory approvals for combination therapies, which have shown higher efficacies in preliminary studies.
Owing to a well-charted strategy and further investment in innovative therapies, the global metastatic colorectal cancer market would stand at the threshold of robust growth. The key factors likely to spur expansion in the market include technological advancement, emerging market presence, and strategic partnership that benefit not only the patients but also help the healthcare providers in different parts of the world.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global metastatic colorectal cancer market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the by treatment type (chemotherapy, targeted therapy, immunotherapy, radiotherapy, and combination therapy), by route of administration (oral and intravenous), by therapy mode (single dose administration and multi dose administration) by age group (children, adults, and geriatric), end user (hospitals, specialty clinics, ambulatory surgical centers, and rehab care) and across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Middle East & Africa).
Check out More Related Studies Published by Fact.MR Research:
Peptide-based cancer therapeutics market is forecasted to increase from a valuation of US$ 10.1 billion in 2023 to US$ 21.4 billion by the end of 2033.
kidney cancer diagnostics market, currently valued at US$ 800 million, is poised for significant growth due to rising global demand. Projections indicate that the market will reach US$ 1.4 billion by 2032.
Breast cancer diagnostics market is likely to acquire a market value of US$ 4 billion in 2022 and is expected to register a CAGR of 7% by accumulating a market value of US$ 7.9 billion in the forecast period 2022-2032.
Colorectal cancer diagnostics market and have predicted to industry expansion at a CAGR of 8.5% over the decade.
Liver cancer diagnostics market reached a valuation of around US$ 11.73 billion in 2022 and is slated to accelerate at a CAGR of 8.2% to top US$ 26 billion by 2032.
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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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Wix Q3 Earnings: Revenue Surge, Margin Expansion, AI Momentum, Raised FY24 Guidance & More
SaaS website builder platform Wix.com Ltd WIX reported its fiscal third-quarter 2024 results. Revenue grew 13% year over year to $444.7 million, beating the analyst consensus estimate of $444.0 million. Adjusted EPS of $1.50 beat the analyst consensus estimate of $1.43.
Also Read: XPeng Q3 Earnings: Revenue Beat, 16% Deliveries Growth, CEO Eyes AI Leadership And More
Creative Subscription revenue increased 10% Y/Y to $318.8 million. The Creative Subscriptions bookings climbed 15% Y/Y to $326.6 million. Creative Subscriptions ARR was $1.31 billion, up 11% Y/Y.
Partners revenue in the quarter was $155.2 million, up 30% Y/Y. Business Solutions’ revenue rose 22% Y/Y to $125.8 million, and bookings jumped 17% Y/Y to $123.1 million.
The adjusted gross margin increased by 100 bps to 69%. As of September end, Wix.com generated $129.8 million in operating cash flow and held $961.2 million in cash and equivalents.
Wix Co-founder and CEO Avishai Abrahami highlighted the company’s continued success this year, attributing it to a sharp focus on innovation and the strong performance of key growth initiatives. Studio, a significant growth driver, delivered outstanding results, with bookings from Studio subscriptions showing notable quarter-over-quarter acceleration. New purchases and renewals were particularly robust, with 75% of new Partner bookings coming from Studio accounts, up from the prior quarter.
Additionally, the AI onboarding process, featuring the AI Website Builder, significantly improved user experience, driving a 13% increase in conversion rates among recent Self Creator cohorts. Early results from the expanding AI business assistant suite also showed promise, enhancing conversion rates and customer care efficiency.
CFO Lior Shemesh reported another strong quarter of accelerating growth and expanding free cash flow (FCF) margins, driven by the effective execution of strategic priorities. Bookings grew to 16% year-over-year, fueled by Studio’s momentum, the expanding AI product suite, solid commerce activity, and strong fundamentals. Stable operations supported sequential FCF margin growth to 29% of revenue.
Building on this solid performance, Shemesh announced an improved full-year outlook for bookings, revenue, and FCF. Second-half bookings growth is expected to reach 17% year-over-year, with an 18% growth rate anticipated by the end of 2024. These improvements reflect the success of product investments and strong customer cohorts. While surpassing the Rule of 40 this year, Shemesh expressed confidence in further growth acceleration and margin expansion in 2025 and beyond.
Related: Wix Is Set for Growth With Expanding Margins and Cash Flow, Analyst Upgrades Stock
Outlook: Wix.com expects fiscal 2024 revenue of $1.757 billion—$1.764 billion (prior $1.747 billion—$1.761 billion) vs. the consensus of $1.76 billion. Wix.com projects 2024 bookings of $1.822 billion—$1.832 billion (prior $1.802 billion—$1.822 billion).
The company expects to generate free cash flow, excluding headquarters costs, of $483 million—$488 million (prior view $460 million—$470 million).
Wix.com expects fourth-quarter revenue of $457 million—$464 million versus consensus $457.08 million.
Wix.com stock gained 56% year-to-date.
Price Action: WIX stock traded higher by 12% at $206 premarket last check Wednesday.
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Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks
Target Corporation TGT shares are trading lower in the premarket session on Wednesday.
The company reported third-quarter adjusted earnings per share of $1.85, missing the street view of $2.30. Quarterly total revenue of $25.67 billion (+1.1% year over year) missed the analyst consensus estimate of $25.90 billion.
“We encountered some unique challenges and cost pressures that impacted our bottom-line performance,” said Brian Cornell, chair and chief executive officer of Target.
The third-quarter gross margin rate decreased by 0.2 percentage points to 27.2%. This was primarily due to higher digital fulfillment and supply chain costs, driven by increased inventory levels, higher digital sales volume, and new supply chain facilities coming online. Operating income of $1.2 billion was 11.2% lower than last year.
Target’s third-quarter comparable sales increased by 0.3%, driven by traffic and digital performance.
Guest traffic grew by 2.4% compared to the prior year. Digital comparable sales rose by 10.8%, reflecting nearly 20% growth in same-day delivery powered by Target Circle 360 and double-digit growth in Drive Up services.
Beauty comparable sales grew by more than 6%, while the Food & Beverage and Essentials categories saw low-single-digit growth compared to the previous year.
Target exited the quarter with cash and equivalents worth $3.433 billion and inventory worth $15.165 billion. The company’s long-term debt and other borrowings as of quarter end was $14.346 billion.
Outlook Lowered: For FY24, the company now forecasts adjusted EPS between $8.30 and $8.90, down from the previous guidance of $9.00 to $9.70. The revised FY24 EPS outlook is also below the consensus estimate of $9.55.
Target expects its fourth-quarter adjusted EPS to range between $1.85 and $2.45, below the consensus estimate of $2.66.
Price Action: TGT shares are trading lower by 16.9% at $129.95 in the premarket session on Wednesday.
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Microplate Reader Market Set to Surge at 7.0% CAGR, to Reach USD 843.4 million by 2031 | Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Nov. 20, 2024 (GLOBE NEWSWIRE) — The global microplate reader market (마이크로플레이트 리더 시장) was projected to attain US$ 461.3 million in 2022. It is anticipated to garner a 7.0% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 843.4 million by 2031.
Microplate readers have evolved because of technological breakthroughs, which have improved their features and broadened their range of applications. Modern technology integration has been essential in increasing the versatility and effectiveness of these instruments.
Advancements in microplate readers nowadays include multi-mode detection capabilities that enable the measurement of absorbance, fluorescence, and luminescence all at once. Furthermore, increased sensitivity and signal-to-noise ratios are made possible by sophisticated detectors, better light sources, and precise optics, all of which present profitable prospects for market growth.
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Key Findings of the Market Report
- It is anticipated that the market for clinical trials would grow at a pace of 10% annually, creating a substantial need for advanced laboratory equipment.
- In 2022, the single-mode readers segment dominated the market.
- Microplate readers with a single mode are made for particular detection modes, such luminescence, fluorescence, or absorbance.
- Dedicated instruments are desirable for applications requiring specialized measurements, including enzyme assays, cell viability tests, or the detection of certain biomolecules, due to their precision and accuracy.
- Measurements with higher sensitivity and specificity are possible thanks to single-mode readers, which are frequently tailored for a specific detection technique.
Global Microplate Reader Market: Key Players
In order to bolster their positions, major companies in the industry are concentrating on tactics such as partnerships, collaborations, mergers, and the introduction of new products.
Organizations are adhering to the most recent developments in the microplate reader industry in order to seize profitable prospects. The following companies are well-known participants in the global microplate reader market:
- Bio-Rad Laboratories, Inc.
- Merck KgaA
- Thermo Fisher Scientific
- Dynex Technologies Inc.
- Grifols, S.A.
- Tecan Group Ltd.
- Monobind
- Transasia Bio-Medicals
- MeCan Medical Equipment
- CTK Biotech
Market Trends for Microplate Readers
- According to the microplate reader market data, the pharmaceutical & biotechnology firms & CROs category held a sizable part of the end-user market in 2022. Large-scale HTS campaigns are frequently conducted by pharmaceutical and biotechnology businesses.
- CROs frequently assist several clientele with various research requirements. Microplate readers’ adaptability, particularly that of multi-mode detection models, enables CROs to effectively accommodate a range of test needs.
- In 2022, the drug discovery sector held a dominant position in the global microplate reader market. Since they enable high-throughput screening (HTS) and facilitate a variety of experiments to find prospective drug candidates, microplate readers are essential tools in the drug development process.
- In HTS campaigns, which screen vast libraries of chemicals for biological activity, microplate readers are essential. They make it possible for researchers to quickly and simultaneously measure a number of samples, which enables them to find the chemicals that have the necessary pharmacological effects.
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Global Market for Microplate Reader: Regional Outlook
- In 2022, North America led the global industry. The region’s market dynamics are being driven by the presence of major companies and improved infrastructure in research laboratories. Two key drivers of the market are the rise in the number of clinical trials and the sizable government funding of current R&D projects.
- North America is home to a state-of-the-art and firmly established healthcare system that includes prestigious hospitals, research centers, and biotechnology businesses. The need for advanced laboratory equipment, such as microplate readers, is fueled by this infrastructure.
- The pharmaceutical and biotechnology industries are centered mostly in the United States. The need for microplate readers is driven by these industries’ ongoing innovation and expansion, which is important for a variety of uses, including drug research and screening.
Global Microplate Reader Market Segmentation
Product Type
- Fluorescence Microplate Readers
- Absorbance Microplate Readers
- Luminescence Microplate Readers
- Filter-based Microplate Readers
- Monochromator-based Microplate Readers
- Hybrid Microplate Readers
Application
- Drug Discovery
- Genomics & Proteomics Research
- Clinical Diagnostics
- Others
End User
- Pharmaceutical & Biotechnology Companies & CROs
- Academic & Research Institutions
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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