Barron's Weekend Stock Picks: PayPal, Nikola And Icahn Enterprises' Challenges
Portfolio Pulse from Justin Chan
Barron's has covered several stories over the weekend, including the sell-off of medtech stocks such as Medtronic, Edwards Lifesciences, and Boston Scientific due to rising interest in the weight-loss drug Ozempic. PayPal's stock was downgraded due to competition from Apple Pay and declining margins. Nikola Corp's stock fell by 26% following approval to issue more shares and the announcement of a new CEO. Fisker Inc reported disappointing sales and cut its production guidance despite beating earnings forecasts. Icahn Enterprises cut its quarterly distribution and reported a larger Q2 loss.
August 05, 2023 | 9:13 pm
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NEGATIVE IMPACT
Fisker Inc reported disappointing sales and cut its production guidance despite beating earnings forecasts.
Fisker Inc's stock may be negatively impacted due to disappointing sales and a cut in production guidance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Icahn Enterprises cut its quarterly distribution and reported a larger Q2 loss.
Icahn Enterprises' stock may be negatively impacted due to a cut in its quarterly distribution and a larger Q2 loss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Medtronic's stock may have been sold off due to rising interest in the weight-loss drug Ozempic.
The rising interest in Ozempic may have led to a sell-off in medtech stocks, including Medtronic.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Nikola Corp's stock fell by 26% following approval to issue more shares and the announcement of a new CEO.
Nikola Corp's stock fell significantly due to the approval to issue more shares and the announcement of a new CEO.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
PayPal's stock was downgraded due to competition from Apple Pay and declining margins.
The downgrade of PayPal's stock was due to increased competition from Apple Pay and declining margins.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90