My top 10 things to see on Friday, May 31
- financial world I was looking to close May on a positive note. Stocks looked higher across the board on Friday after the Federal Reserve's preferred inflation gauge rose as expected in April. It was a good report for the bulls. For the week, the S&P 500he Nasdaq and the Dow They are all in the red.
- Dell Expectations rose too high ahead of earnings from server work with Nvidia's upcoming Blackwell chip platform. Shares fell about 16.5% after the company's quarter was unsurprising. Earnings guidance came in below estimates. Management said on the call: "We remain optimistic about the next PC refresh cycle and the long-term impact of AI on the PC market."
- Don't be fooled by falling stocks, costcoThe quarter was excellent and still keeps inflation low. I like the new management team, and they will be better at technology. Costco earned multiple price target increases from Wall Street and Club analysts. We went from $800 to $875 per share.
- Best Buy Shares rose after Thursday's post-earnings surge of nearly 13.5%. It was a mixed quarter, but management's optimism about the upgrade of personal computers and AI-powered smartphones worked. Forty percent of the new PCs will be dedicated to the Best Buy Club name. The weight has been removed in terms of sales of home appliances due to the new PCs from Dell and HP Inc.as well as a new telephone cycle.
- Club name shoe drawer earned price target increases from the Street and the Club after Thursday's nearly 15% post-earnings rise. Stocks rose again on Friday. Stock left the doghouse according to signs from CEO Mary Dillon recovery plan turned the corner. We gave it our rating of 2, which means consider buying on a pullback.
- Gap It had a much better quarter and the stock was up almost 25%. CEO Richard Dickson has it firing on all cylinders: Old Navy, by far the largest, very strong; Strong gap nameplate; Better Banana Republic; Athleta is still very small and not a threat to Lululemon, but he is doing better.
- Ulta BeautyThe quarter wasn't as bad as feared, which was good for an increase of about 9.5% early Friday. Ulta has nearly 1,400 stores and more than 43 million active members. It took share in the mass market but lost share in prestige. Ulta cut full-year earnings and revenue guidance.
- Nordstrom acknowledged from the top that the April 18 announcement to explore all options is very real. The department store chain reported a larger-than-expected loss but beat revenue. The stock lost more than 3.5%. Management said on the post-earnings call that On Holding, Sam Edelman and Birkenstock running shoes were standout brands in the quarter.
- Bank of America raised its Qualcomm price target at $245 per share from $180. Qualcomm has been an unheralded star at the mobile and PC show, and its stock has already advanced 41.6% so far this year. An exclusive association with the name of the Club. microsoft Using its PC chips with AI is a key factor for the company.
- MongoDB Shares fell more than 20% after the data platform's guidance for developers fell short of expectations. The economy hurt business and execution was not as crisp as they would like. This is an example of a company that had been secular and is now cyclical.
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