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<p class="has-drop-cap">Major market movers on Monday included Tesla (NASDAQ: TSLA), Disney (NYSE: DIS), and onsemi (NASDAQ: ON), with each company experiencing significant stock price movements driven by recent developments and financial results. <br><br>As of 11:05 AM EDT on July 29, 2024, these three stocks drew investor attention for various reasons, ranging from analyst upgrades to blockbuster movie releases and earnings beats.</p>
<h3 id="tesla-shares-gain-after-morgan-stanley-selects-stock-as-top-pick">Tesla Shares Gain After Morgan Stanley Selects Stock as “Top Pick”</h3>
<p>Tesla (TSLA) shares surged 5.15% to $231.13 after Morgan Stanley <a href="https://tokenist.com/tesla-stock-gains-as-morgan-stanley-names-new-us-auto-top-pick/" rel="noopener noreferrer nofollow" class="deco-link">named</a> the electric vehicle maker its new “top pick” in the U.S. auto sector, replacing Ford (NYSE: F). <br><br>Analyst Adam Jonas cited Tesla’s effective risk management and dominance in the zero-emission vehicle (ZEV) credit market as key factors, projecting a 40% upside potential for the stock. Tesla’s ZEV credit revenue reached approximately $2,000 per unit in Q2, more than double its recent rate. However, analysts expressed skepticism about near-term expectations for Tesla’s Full Self-Driving (FSD) and robotaxi services. <br><br>Despite the day’s gains, Tesla’s year-to-date return remains negative at -6.99%, while its impressive five-year return stands at 1,420.22%.</p>
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<h3 id="disney-stock-climbs-as-latest-mcu-film-breaks-records">Disney Stock Climbs as Latest MCU Film Breaks Records</h3>
<p>Disney (DIS) stock climbed 2.08% to $91.80, buoyed by the <a href="https://www.bbc.com/news/articles/ckkgvkyely9o" target="_blank" aria-label="record-breaking success (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">record-breaking success</a> of its latest Marvel Cinematic Universe (MCU) film, “Deadpool &amp; Wolverine.” <br><br>The movie shattered box office records with a $205 million domestic opening weekend, surpassing analyst predictions of $160-180 million. Internationally, the film earned an additional $233.3 million, bringing its global total to $438.3 million for the weekend. <br><br>This success marks a turnaround for the MCU after a post-pandemic slump and helps the franchise become the first to cross $30 billion at the global box office. Disney’s year-to-date return is positive at 2.14%, although its five-year return remains negative at -35.66%.</p>
<h3 id="onsemi-stock-surges-on-better-than-expected-q2-results">onsemi Stock Surges on Better than Expected Q2 Results</h3>
<p>onsemi (ON) shares jumped 13.28% to $79.49 following <a href="https://tokenist.com/onsemi-on-reports-q2-2024-0-96-eps-1-74-billion-in-revenue/" class="deco-link" rel="noopener noreferrer nofollow">better-than-expected Q2 results</a>. The company reported revenue of $1,735.2 million, slightly exceeding expectations of $1.73 billion. <br><br>Non-GAAP EPS came in at $0.96, beating analyst expectations of $0.92. Despite year-over-year revenue declines across all business units, onsemi maintained robust gross margins, with GAAP and non-GAAP gross margins at 45.2% and 45.3%, respectively. <br><br>The company also increased its free cash flow by approximately $250 million year-over-year and returned about $650 million to shareholders through <a href="https://tokenist.com/investing/what-is-a-stock-buyback/" class="deco-link" rel="noopener noreferrer nofollow">stock repurchases</a> over the last 12 months. onsemi’s year-to-date return is -4.73%, while its five-year return stands at an impressive 261.07%.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-disney-tesla-and-onsemi/">Stocks to Watch Today: Disney, Tesla, and onsemi</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: Disney, Tesla, and onsemi

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