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Among active stocks today, General Mills (GIS) issued results that beat on the top and bottom lines, but also lowered profit outlook.
General Mills now sees adjusted EPS down 3% to down 1% for FY25 on a constant currency basis, compared to prior guidance for a range of down 1% to up 1%. Organic net sales are still expected to range between flat and up 1%. GIS said it is now targeting the lower end of the range due to increased promotional investment.
Consulting firm TrendForce says Nvidia’s (NVDA) new GB200 rack-mounted AI and HPC servers are expected to reach mass production and peak shipments during the second and third quarters of 2025
The production of Blackwell GPU chips is progressing largely as expected, with only limited shipments during the fourth quarter of calendar year 2024 before production ramps during the first quarter of 2025 and beyond, TrendForce said.
Jabil (JBL) reported stronger-than-expected quarterly results and raised its outlook for fiscal 2025, led by strength in cloud computing and the data center.
The electronic circuit manufacturing company expects to earn between $1.60 and $2 per share in fiscal Q2, with revenue between $6.1 and $6.7 billion. Analysts were expecting $1.79 per share on $6.27 billion in revenue. For 2025 it now sees net revenue at $27.3 billion, up from a prior forecast of $27 billion.
In other news of note, Merck (MRK) joins the weight-loss drug race.
Merck and China’s Hansoh Pharma (OTCPK:HNSPF) announced a global licensing deal to develop HS-10535, an oral GLP-1 receptor agonist targeted at weight loss and other cardio metabolic conditions.
Weight loss drug development is currently dominated by Novo Nordisk (NVO) and Eli Lilly (LLY), with the likes of Pfizer (PFE), Amgen (AMGN), and AstraZeneca (AZN) also in the race.
An experimental therapy undergoing preclinical studies, HS-10535 targets GLP-1 receptors similar to Novo and Lilly’s injectable weight loss drugs Wegovy and Zepbound.
And in the Wall Street Research Corner, it’s more of the crystal ball for 2025.
Roth MKM is out with their top stock picks for next year. They surfaced 25 names with upside potential ranging from about 9% to almost 183% through the end of next year.
Among the names are:
- Turning Point Brands (TPB) – Price target: 70.00
- Groupon (GRPN) – Price target: 21.00
- Take-Two Interactive Software (TTWO) – Price target: 208.00
- Uber (UBER) – Price target: 90.00
- First Solar (FSLR) – Price target: 280.00
- Snap-On (SNA) – Price target: 393.00
- Uranium Energy (UEC) – Price target: 10.50
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