tl;dr
U.S. stock index futures on Friday pointed to a largely muted open, with market participants looking ahead to economic data on manufacturing. Wall Street is on track to end the week slightly higher. Here are some stocks to watch on Friday:Shares of Plug Power (PLUG) were among the most actively trad...
U.S. stock index futures on Friday pointed to a largely muted open, with market participants looking ahead to economic data on manufacturing. Wall Street is on track to end the week slightly higher. Here are some stocks to watch on Friday:
Shares of Plug Power (PLUG) were among the most actively traded ahead of the opening bell, slipping nearly 9%. The hydrogen fuel cells maker reported a wider loss for full year 2023, with loss per share coming in at $2.30 compared to a loss per share of $1.25 for full year 2022. Full year revenue gained 27% Y/Y to $891M. Plug Power (PLUG) also said that it had recently resolved the going concern issue it had previously disclosed for Q3 2023. "Acknowledging the challenges encountered in cash management during 2023, Plug (PLUG) has embraced an increased emphasis on strengthening the Company’s cash management strategy in 2024," the company said in a statement.
Eli Lilly (NYSE:LLY) stock gained about 1.5% in pre-market trading. Bank of America raised its price target on Lilly (LLY) stock to a Street high of $1,000. That represents a 32.7% upside to LLY's last closing price of $753.68. According to the drugmaker's latest annual report, it had 950.2M shares outstanding as of February 16, 2024. Based on that number, BofA's new price target implies a market capitalization of about $950.16B for Lilly (LLY). The craze around weight loss GLP-1 agonists including Lilly's (LLY) Zepbound (tirzepatide) has led to investors flocking to the stock and making it the world's largest publicly listed pharmaceutical firm. BofA's bullishness was also based on tirzepatide's prospects.
Shares of Microsoft (MSFT) were in focus, slipping marginally ahead of market open. Bloomberg News reported that Tesla's (TSLA) Elon Musk had filed a lawsuit late on Thursday against artificial intelligence (AI) firm OpenAI for allegedly putting profit ahead of benefiting humanity. Musk reportedly said that OpenAI's close relationship with Microsoft (MSFT) had undermined its original mission of creating open-source technology that would not be subject to corporate priorities. Microsoft (MSFT) has invested billions of dollars in the ChatGPT developer, which has led to the Satya Nadella-firm being considered one of the frontrunners in AI.
Warner Bros. Discovery (WBD) stock will garner some attention, as Friday will mark the release of the entertainment company's tentpole sci-fi epic Dune: Part Two. The film, directed by Denis Villeneuve and based on Frank Herbert's beloved 1965 novel, was originally scheduled to be released last year in October, but was delayed multiple times due to the Hollywood actors and writers strikes. The movie is expected to reignite the domestic box office, which has been struggling so far in 2024. Dune: Part Two is targeting an opening of around $70M to $80M.
More about Plug Power Inc
Plug Power Inc. is a manufacturing company that provides turnkey hydrogen fuel cell solutions for the stationary power and electric mobility markets in North America and Europe. With a market cap of $2410704000, the company has shown a slight decrease in its stock performance with a -1.6% change in its stock price. The market sentiment seems to be slightly positive with a Relative Strength Index of 1.505, indicating a potential bullish trend. However, it's important to note that past market behavior is not always a reliable indicator of future performance, and there may be uncertainties and risks associated with the stock.
More about Eli Lilly and Company
Eli Lilly and Company is a major player in the life sciences and pharmaceutical preparations industry, with a market capitalization of approximately $716.12 billion. The stock is currently trading at $129.94, with a 4.52% dividend yield and a 5.8 P/E ratio. The company has a strong ROE of 37.91% and a healthy current ratio of 0.154, indicating good short-term liquidity. With a total revenue of $34.12 billion and a net income of $772.03 million, Eli Lilly and Company has a relatively low debt-to-equity ratio of 0.13, suggesting a conservative financial structure. Market sentiment towards the stock is generally positive, with a bullish trend in recent months. However, it's important to note that past performance is not always indicative of future results, and there are potential risks and uncertainties associated with investing in pharmaceutical companies, such as regulatory changes and patent expirations.
More about Microsoft Corporation
Microsoft Corporation is a technology company with a diverse product line including computer software, consumer electronics, and personal computers. It is a major player in the information technology industry and ranked No. 21 in the 2020 Fortune 500. With a market capitalization of $456.32 billion and a P/E ratio of 37.33, the stock has shown a 2.86% dividend yield. The stock has shown a 11.08% return on equity and a beta of 0.363, indicating lower volatility compared to the market. The stock price is currently trading at $30.61. The market sentiment towards Microsoft Corporation is generally positive, with strong financial metrics and a diverse product portfolio contributing to its position as a major player in the industry.
More about Tesla Inc
Tesla, Inc. is a leading American electric vehicle and clean energy company, with a strong presence in the plug-in and battery electric car segments. In 2020, the company captured 16% of the plug-in market and 23% of the battery-electric market, demonstrating strong sales performance. Additionally, Tesla Energy, a subsidiary of Tesla, is a major installer of solar photovoltaic energy generation systems and one of the largest global suppliers of battery energy storage systems. The company's financial metrics include total manufacturing revenue of $642.9 billion and a stock price of $46.95. The market sentiment towards Tesla is positive, with a low price-to-earnings ratio of 4.3 and a high relative strength index of 30.49, indicating potential bullish trends. However, it's important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with this analysis.
More about C3 Ai Inc
Based on the financial data for C3 Ai Inc, the company operates in the technology sector, specifically in prepackaged software services. With a market capitalization of $4.56 billion and a negative earnings per share of -2.3, the stock has shown volatility with a beta of 2.536. The Relative Strength Index (RSI) of -0.917 indicates a bearish sentiment, and the stock has not shown any significant movement in the past trading period. While the company has not experienced any recent significant events or news, the market sentiment towards C3 Ai Inc remains neutral, with potential risks and uncertainties associated with the stock's performance.
More about Warner Bros Discovery Inc
Warner Bros Discovery Inc, a technology and cable & other pay television services company, has reported a market capitalization of $21.44 billion. The stock has shown a price change of -1.28 and a percentage change of -0.0757. With a stock price of $16.96 and a volume of 41,321,001, the company's relative strength index (RSI) stands at 13.76, indicating oversold conditions. The company's moving average is 2.267, and it is currently trading below its moving average. Market sentiment appears bearish with potential downside risks, and investors should be cautious given the uncertainty in the market.
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