JPMorgan Boosts Ocado, Witcher Delay Hits CD Projekt, Vistry Pops
On this episode of Stock Movers:- Ocado gets a positive analyst rating from JPMorgan for the first time in over seven years, with the broker upgrading to overweight from neutral to reflect a “turning tide” in the digital grocery sector. The shares rise as much as 12%. Analyst Marcus Diebel, who last held an overweight on the stock in 2018, says in note there are now several reasons to take a more optimistic view and sees an inflection point approaching.- CD Projekt’s strong 4Q earnings, boosted by positive tax one-off as well as cooperation with Scopely, is seen positive, however news that the game Witcher 4 won’t be released before 2027 may disappoint investors, according to analysts. - British developer Vistry Group is planning to capitalize on a government pledge this week to inject £2 billion ($2.6 billion) into affordable homes, as the housebuilder looks to recover from a turbulent end to 2024. The company, which partners with housing associations to build affordable homes, said it was looking to progress “as quickly as possible” to deliver new units, according to a statement Wednesday. Chancellor of the Exchequer Rachel Reeves unveiled grants for social and affordable homes this week, as the Labour government aims to build 1.5 million homes over five years.See omnystudio.com/listener for privacy information.
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4:49
KB Home Tumbles, DJT Crypto Plans , Cassava Shares Slumps
On this episode of Stock Movers:- KB Home shares fell nearly 9% today after the homebuilder posted disappointing 1Q results. The firm also cut its fiscal revenue guidance for this year, saying demand at the start of the spring selling season was more muted. Analysts noted that affordability issues are putting pressure on housing activity. - Trump Media & Technology Group plans to work with Crypto.com on a lineup of “Made-in-America” investments — an arrangement that puts the president’s social media company in business with a Singapore-based firm that was locked in a legal battle with US regulators last year. The Truth Social parent will sell exchange-traded funds tied to digital assets and other US-focused investments on a platform owned by Crypto.com, according to a statement Monday. The products will be available this year in the US, Europe and Asia, pending regulatory approval. Crypto.com will supply the cryptocurrencies and technology underpinning them, and they’ll be available through Foris Capital, a New Hampshire-based platform it acquired last year.- Cassava shares slumped nearly 30% after the drug developer said it plans to discontinue its Alzheimer's program by the end of the second quarter, following a late-stage trial failure.See omnystudio.com/listener for privacy information.
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4:54
KB Home Disappointing Results, Tesla Sales, Cassava Shares Slump
On this episode of Stock Movers: - KB Home (KBH) shares fell after the homebuilder posted disappointing 1Q results and cut its fiscal 2025 revenue guidance, saying demand at the start of spring selling season was more muted than historical levels. The company missed its sales goals for 1Q. Management is cutting guidance primarily to reflect the lower level of net orders generated in the 1Q.- Tesla (TSLA) sales fell for the 10th time in the last 12 months in Europe, where Elon Musk’s politicking and a changeover of the carmaker’s most important product have been major hindrances. The company registered 16,888 new cars in February, down 40% from a year ago, according to the European Automobile Manufacturers’ Association.- Cassava (SAVA) shares slump after the drug developer said it will discontinue its Alzheimer’s program with simufilam by the end of the second quarter, following a late-stage trial failure. Topline data indicated that REFOCUS-ALZ did not meet each of the prespecified co-primary, secondary and exploratory biomarker endpoints.See omnystudio.com/listener for privacy information.
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3:54
Carvana Shares Rise, Cloudfare Climbs, Trump Media Crypto Partnership
On this episode of Stock Movers: - Carvana (CVNA) shares rise after Morgan Stanley raised the used-car retailer to overweight, saying the pullback in shares creates an attractive entry point for the used-car retailer. The stock had slid 25% from a peak in February through last close amid a broader market slump.- Cloudflare (NET) shares climb as BofA double-upgrades the software company to buy on improving fundamentals, saying it’s set to be an “AI winner.” Cloudflare’s differentiated positioning in AI leaves “high probability” the firm can become leader in AI-as-a-Service (AlaaS)-Trump Media (DJT) shares jump after signing a non-binding agreement to partner with Crypto.com for a series of ETFs through its Truth.Fi brand. The products will be available this year in the US, Europe and Asia, pending regulatory approval.See omnystudio.com/listener for privacy information.
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4:34
Tesla Rises , KB Home and Housing Concerns, Trump Media Jumps
On this episode of Stock Movers: - Tesla stock is higher this morning along with the entire global auto sector, despite dismal news on European sales. Sales in Europe have fallen in 10 of the last 12 months, with a 40% drop in February compared to the same month last year. The company's sales declined 43% in the first two months of this year, despite a 31% rise in industrywide EV registrations. Tesla is counting on its redesigned Model Y to boost sales while Cathie Wood's Ark Investment Management expects Tesla's stock to hit $2,600 in five years, with 90% of its value coming from robo taxis.- Trump Media and Technology Group shares jumped in premarket trading Tuesday after signing a non-binding agreement to partner with Crypto.com for a series of ETFs through its Truth.Fi brand. America-first investment funds to launch in 2025 alongside a slate of Truth.Fi SMAs. Trump Media will invest up to $250m of its own cash in ETFs and SMAs, custodied by Charles Schwab.- KB Homes is down significantly after reporting first quarter earnings that missed estimates and a revenue drop. The figures are much lower than expected due to affordability concerns and it could signal concern over the American housing complex.See omnystudio.com/listener for privacy information.
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