Secure

Edge

Optimism

Gains

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<p class="has-drop-cap">In a volatile trading session, three major stocks are capturing investors’ attention with significant price movements and key announcements. Walgreens Boots Alliance (NASDAQ: WBA) faced a steep decline following its earnings report, while Micron Technology (NASDAQ: MU) saw a pullback despite beating expectations. Meanwhile, Palo Alto Networks (NASDAQ: PANW) gained on positive analyst sentiment. Here’s a closer look at these stocks making waves in today’s market.</p> 
<h3 id="walgreens-boots-alliance-wba-stock-plunges-on-third-quarter-earnings-report">Walgreens Boots Alliance (WBA) Stock Plunges on Third-Quarter Earnings Report</h3> 
<p>Shares of Walgreens Boots Alliance plummeted 24.77% to $11.78 as of 11:30 AM EDT, following the release of its <a href="https://investor.walgreensbootsalliance.com/static-files/2eb7b12d-101f-413a-b676-a1bbaaa3e599" target="_blank" aria-label="fiscal third-quarter earnings report (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">fiscal third-quarter earnings report</a>. Despite beating revenue expectations with $36.4 billion against an anticipated $35.94 billion, the company’s adjusted <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">earnings per share</a> of $0.63 fell short of the expected $0.68. <br><br>The pharmaceutical retailer slashed its full-year adjusted profit outlook to $2.80-$2.95 per share from the previous $3.20-$3.35, citing a “challenging” environment for pharmacies and U.S. consumers.</p> 
<p>Walgreens announced plans to close underperforming U.S. stores over multiple years as part of a cost-cutting strategy. Despite challenges in its retail segment, which saw a 4% decline in sales, the company’s U.S. healthcare segment grew 7.6% year-over-year to $2.13 billion. <br><br>The stock’s year-to-date return stands at -53.64%, significantly underperforming the <a href="https://tokenist.com/investing/spx-vs-spy/" rel="dofollow" class="deco-link">S&amp;P 500</a>‘s 14.69% gain.</p> 
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<h3 id="micron-technology-mu-dips-despite-better-than-expected-results-fails-to-impress-ai-driven-expectations">Micron Technology (MU) Dips Despite Better than Expected Results, Fails to Impress AI-Driven Expectations</h3> 
<p>Micron Technology shares dropped 6.76% to $132.73 by late morning trading, despite reporting better-than-expected <a href="https://investors.micron.com/news-releases/news-release-details/micron-technology-inc-reports-results-third-quarter-fiscal-2024" target="_blank" aria-label="quarterly results (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">quarterly results</a>. <br><br>The memory chip manufacturer posted earnings per share of $0.62, surpassing the projected $0.51, and revenue of $6.81 billion, exceeding the estimated $6.67 billion. However, forward guidance that merely met analyst expectations appeared to disappoint investors, especially considering the stock’s strong performance leading up to earnings, having rallied over 65% year-to-date.</p> 
<p>With a market capitalization of $157.70 billion, Micron remains a key player in the <a href="https://tokenist.com/3-small-cap-ai-stocks-with-serious-growth-potential/" rel="dofollow" class="deco-link">AI-driven semiconductor rally</a>. <br><br>However, some analysts suggest the stock may be overvalued in the short term, with an estimated fair value of $97.84, significantly below its current trading price. Despite the pullback, the average analyst price target stands at $153.08, indicating potential upside.</p> 
<h3 id="palo-alto-networks-panw-stock-gains-on-analyst-optimism">Palo Alto Networks (PANW) Stock Gains on Analyst Optimism</h3> 
<p>Bucking the downward trend, Palo Alto Networks saw its stock rise 5.28% to $342.42 by late morning. The cybersecurity firm continues to benefit from bullish analyst sentiment, with both Robert W. Baird and Cantor Fitzgerald analysts maintaining Buy ratings. <br><br>Analysts cite steady demand, improved visibility for the year’s second half, and successful platformization strategies, particularly in Secure Access Service Edge (SASE) and Extended Security Information and Event Management (XSIEM).</p> 
<p>Palo Alto Networks boasts impressive growth metrics, with a year-to-date return of 16.12% and a one-year return of 40.45%, outpacing the broader market. The company’s focus on high-quality, sustainable customer relationships and positive response to new AI features have contributed to its strong performance in the rapidly growing cybersecurity sector.</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="nofollow" href="https://tokenist.com/stocks-to-watch-wba-micron-technology-palo-alto-networks/">Stocks to Watch: WBA, Micron Technology, Palo Alto Networks</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch: WBA, Micron Technology, Palo Alto Networks

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Ďalšie články zverejnené 27. 6. 2024

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