S&P 500 Futures Climb in Premarket Trading; Broadcom, RH Lead
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 13 2024
0mins
Should l Buy W?
Source: Barron's
Market Performance: Broadcom Inc. and RH saw significant pre-market gains of 17.9% and 17.7%, respectively, while other stocks like Marvell Technology and Wayfair also posted increases. However, Stevanato Group and Endeavor Group experienced declines of 5.2% and 3.0%.
Futures and Commodities Update: S&P 500 futures rose by 0.34% and Dow futures by 0.14%. In commodities, Brent crude oil increased by 0.79%, gold fell by 0.75%, and Bitcoin climbed to $100,344, while the 10-Year Treasury yield rose to 4.354%.
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Analyst Views on W
Wall Street analysts forecast W stock price to rise
26 Analyst Rating
18 Buy
8 Hold
0 Sell
Moderate Buy
Current: 85.230
Low
75.00
Averages
118.16
High
150.00
Current: 85.230
Low
75.00
Averages
118.16
High
150.00
About W
Wayfair Inc., through its e-commerce platform, offers a selection of furniture, decor, housewares and home improvement products. The Company’s customers span a range of demographics, with annual household incomes ranging from $25,000 to over $250,000, and also include business professionals, from small startups to global enterprises. Its family of brands includes Wayfair, AllModern, Birch Lane, Joss & Main, Perigold and Wayfair Professional. It also features certain products under its house brands, such as Three Posts and Mercury Row. The Company operates through two segments: U.S. and International. The U.S. segment primarily consists of amounts earned through product sales through Wayfair's family of sites in the U.S. The International segment primarily consists of amounts earned through product sales through the Company’s international sites. It operates as Wayfair.ca in Canada, Wayfair.co.uk in the United Kingdom and Wayfair.ie in Ireland.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Wayfair to Announce Q4 Earnings on February 19
- Earnings Announcement: Wayfair (W) is set to announce its Q4 earnings on February 19 before the market opens, with consensus EPS estimate at $0.69 and revenue estimate at $3.3 billion, indicating significant market interest in its financial performance.
- Historical Performance Review: Over the past two years, Wayfair has beaten EPS estimates 75% of the time and revenue estimates 50% of the time, demonstrating a degree of stability in its profitability metrics.
- Expectation Revision Dynamics: In the last three months, EPS estimates have seen six upward revisions and four downward revisions, while revenue estimates have experienced four upward and two downward revisions, reflecting analyst divergence and market uncertainty regarding the company's future performance.
- Market Reaction Analysis: Despite ongoing improvements in Wayfair's financial results, the stock is perceived as overpriced by the market, which may affect investor confidence and future stock price performance.
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- Earnings Announcement: Wayfair (W) is set to announce its Q4 earnings on February 19 before the market opens, with consensus EPS estimate at $0.69 and revenue estimate at $3.3 billion, indicating significant market interest in its financial performance.
- Historical Performance Review: Over the past two years, Wayfair has beaten EPS estimates 75% of the time and revenue estimates 50% of the time, demonstrating a degree of stability in its profitability metrics.
- Expectation Revision Dynamics: In the last three months, EPS estimates have seen six upward revisions and four downward revisions, while revenue estimates have experienced four upward and two downward revisions, reflecting analyst divergence and market uncertainty regarding the company's future performance.
- Market Reaction Analysis: Despite ongoing improvements in Wayfair's financial results, the stock is perceived as overpriced by the market, which may affect investor confidence and future stock price performance.
See More
U.S. Markets Steady Upward, Energy Stocks Benefit
- Market Performance: The S&P 500 is attempting its first three-session win streak since late January, with solid gains indicating investor confidence in economic recovery, particularly in energy and technology sectors.
- Economic Data Surprises: New orders for manufactured durable goods rose 0.9% in December, surpassing the expected 0.3%, while January industrial production increased by 0.7%, exceeding forecasts of 0.4%, signaling accelerating economic activity.
- Alphabet AI Innovation: Alphabet's launch of the Lyria 3 generative music model allows users to create 30-second tracks via the Gemini app, enhancing the quality of YouTube Shorts soundtracks and potentially attracting more creators to the platform.
- Earnings Season Approaches: Companies like DoorDash and Carvana will report quarterly earnings after Wednesday's close, while Walmart and Quanta Services will announce results before Thursday's open, with the market closely watching the impact of these reports on stock performance.
See More
Market Shift Sheds Light on AI Challenges: Reasons Behind Stock Struggles and 5 Key Updates for Today.
- S&P 500 Performance: The S&P 500 has been struggling to surpass the 7000 point mark.
- Historical Threshold: This round-number challenge has persisted since the index first tested this level in late October.
See More
Retail Earnings Will Highlight the Importance of Execution Like Never Before
- Earnings Reports: Walmart and Wayfair are scheduled to report their earnings on Thursday.
- Retail Challenges: The current retail environment highlights the importance of brand power and operational efficiency as key strategies to navigate volatility.
See More
Retail Giants Earnings Season Nears Conclusion
- Earnings Calendar: This week, several retail, energy, and tech giants are set to report earnings, with investors particularly focused on Medtronic, Energy Transfer, and HIVE, while Carvana's Q4 results are due after Wednesday's close.
- Carvana Earnings Expectations: Analysts forecast Carvana to report earnings of $1.10 per share on revenue of $5.26 billion, with strong year-over-year growth in retail units and gross profit per unit, although investor concerns linger over a recent short-seller report alleging accounting irregularities.
- Walmart Earnings Focus: Walmart is expected to report earnings on Thursday, with estimates of $0.72 per share and revenue of $190.24 billion, as investors will closely monitor the growth of high-margin segments and commentary on consumer health.
- Opendoor Earnings Outlook: Opendoor is set to release its Q4 results after Thursday's close, with investors looking for updates on its turnaround plans and progress towards profitability by 2026, particularly regarding improvements in gross margins and the success of its AI-driven “capital-light” platform.
See More
Wall Street Sentiment Dips as AI Summit Gains Attention
- Market Sentiment Dips: Despite the latest inflation data coming in slightly lower than expected, Wall Street failed to rally before the holiday weekend, with the S&P 500 dropping over 1% last week, reflecting concerns about the impact of artificial intelligence on industries like trucking, media, and real estate.
- Jesse Jackson Passes Away: Civil rights leader Jesse Jackson has died at the age of 84, prompting widespread tributes to his contributions to equality and justice, highlighting his significant role in the American civil rights movement.
- Pritzker Resigns: Hyatt Hotels Chairman Thomas Pritzker has stepped down due to his ties with the late sex offender Jeffrey Epstein, expressing regret over his judgment, a move that underscores the pressure business leaders face amid scandal revelations.
- AI Summit Held: Tech moguls are gathering in India for an artificial intelligence summit, with OpenAI's Sam Altman and others expected to attend, although Nvidia's Jensen Huang has pulled out due to
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