Uber, Deere, Cadence Design And More On CNBC's 'Final Trades'
Portfolio Pulse from Lisa Levin
On CNBC's 'Halftime Report Final Trades,' analysts provided their picks, including Deere & Company (DE) ahead of its earnings report, Uber Technologies (UBER) with its Q4 bookings and EBITDA projections, Invesco NASDAQ Internet ETF (PNQI) as a final trade, and Cadence Design Systems (CDNS) which reached an all-time high. Deere previously reported better-than-expected Q3 earnings, as did Cadence Design Systems. Deere's shares fell 1.1%, Uber's rose 1.3%, PNQI gained 0.1%, and Cadence Design's shares increased by 0.9% during Monday's session.
November 14, 2023 | 1:19 pm
News sentiment analysis
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NEUTRAL IMPACT
Deere & Company is anticipated to report quarterly earnings on Nov. 22, 2023, after previously reporting better-than-expected Q3 earnings. Shares fell 1.1% recently.
Deere's upcoming earnings report is a significant event that could influence the stock price. The recent dip in shares may be due to profit-taking or market conditions, but strong Q3 earnings could suggest a positive outlook.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Anastasia Amoroso of JP Morgan Private Bank named Invesco NASDAQ Internet ETF as her final trade. PNQI gained 0.1% during Monday's session.
The recommendation of PNQI by a JP Morgan analyst could draw attention to the ETF, but the minimal gain indicates a neutral market reaction in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Cadence Design Systems hit an all-time high and posted better-than-expected earnings for the third quarter. Shares increased by 0.9% on Monday.
Cadence Design Systems' all-time high and better-than-expected Q3 earnings are likely to have a positive impact on the stock price in the short term, as evidenced by the recent uptick.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Uber Technologies expects Q4 gross bookings of $36.5 billion - $37.5 billion and an adjusted EBITDA of $1.18 billion - $1.24 billion. Shares rose 1.3% on Monday.
Uber's positive outlook for Q4 gross bookings and adjusted EBITDA is likely to instill confidence in investors, contributing to the recent rise in stock price. The company's performance metrics are key drivers of investor sentiment.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80