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Big Movers 11/15/24

Updated: Nov 16, 2024


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Amazon: SCORE - 61 (BUY)


News Today: Jeff Bezos' sales of Amazon shares are over, for now. The Amazon founder sold $1.3 billion worth of stock this week, bringing his November sales to $3.4 billion. Since July, he's sold $5.1 billion of stock.


The sales were part of a prearranged trading plan known as 10b5-1. Like many large shareholders, Bezos regularly files plans to sell shares. These sales were part of a plan that was announced in May, which replaced the previous exhausted one.


The May plan was for Bezos to sell 25 million shares of Amazon by the end of 2025. He beat that deadline by a considerable margin.


IMMEDIATE SIGNALS


Current Signal: Sell

Trend: Bear

Trend Movement: Average

Trend Volatility: 90.1%

Trend Mood: Normal


Short Term: Down

Intermediate Term: Up

Long Term: Up


Today's Volume: 86.59 M

Average 30D Volume: 39.43 M

Market Cap: 2.13 T


Intel: SCORE - 41 (SELL)


News Today: Intel is expected to post earnings of $0.11 per share for the current quarter, representing a year-over-year change of -79.6%. Over the last 30 days, the Consensus Estimate has changed +46.3%.


For the current fiscal year, the consensus earnings estimate of -$0.07 points to a change of -106.7% from the prior year. Over the last 30 days, this estimate has changed -75.5%.


For the next fiscal year, the consensus earnings estimate of $0.93 indicates a change of +1,425.7% from what Intel is expected to report a year ago. Over the past month, the estimate has changed -14%.


IMMEDIATE SIGNALS


Current Signal: Sell

Trend: Bear

Trend Movement: Average

Trend Volatility: 100%

Trend Mood: Normal


Short Term: Down

Intermediate Term: Up

Long Term: Down


Today's Volume: 55.1 M

Average 30D Volume: 64.89 M

Market Cap: 105.02 B


Meta: SCORE - 78 (BUY)


News Today: Meta Platforms plans to appeal court rulings that allowed schools in the US to proceed with lawsuits accusing social media applications of contributing to the youth mental-health crisis, Bloomberg News reported Friday.


The company filed notices on Thursday to request that the US Ninth Circuit Court of Appeals review separate court orders that rejected its claim to dismiss the complaints, Bloomberg reported.


The orders were issued by a federal judge in California last month, ruling in favor of 34 attorneys general who sued Meta Platforms for the alleged harmful effects of its Facebook and Instagram platforms, the report said.


IMMEDIATE SIGNALS


Current Signal: Buy

Trend: Bull

Trend Movement: Average

Trend Volatility: 87.9%

Trend Mood: Normal


Short Term: Down

Intermediate Term: Up

Long Term: Up


Today's Volume: 17.71 M

Average 30D Volume: 12.13 M

Market Cap: 1.40 T


Microsoft: SCORE - 48 (SELL)


News Today: Microsoft's Blizzard Entertainment has dropped a significant hint regarding an upcoming project that could redefine the future of the StarCraft franchise.


According to IGN, a job listing posted on Nov. 13 reveals Blizzard is seeking an “associate design director, innovation,” for an “upcoming open-world shooter game,” and all signs point to this being the long-anticipated StarCraft FPS.


IMMEDIATE SIGNALS


Current Signal: Sell

Trend: Bear

Trend Movement: Average

Trend Volatility: 98.4%

Trend Mood: Normal


Short Term: Down

Intermediate Term: Up

Long Term: Down


Today's Volume: 28.25 M

Average 30D Volume: 20.70 M

Market Cap: 3.09 T


Micron Technology: SCORE - 42 (SELL)


News Today: Micron helped set the tone for technology stocks overall in Q3 in its release in late September, with the company enjoying a massive 181% spike in EPS on 93% higher sales. The growth here is massive, underpinned by robust demand for the company’s data center products.


The results overall again confirm that the AI frenzy is here to stay, with Micron also forecasting record profitability for its next quarterly print. The company’s top line has recovered in a big way over recent quarters.


The stock has given up the bulk of its post-earnings gains amid broader semiconductor weakness as of late, but the story overall remains positive. The valuation picture isn’t overly stretched, with the current 2.8X forward 12-month price-to-sales ratio beneath the 2.9X five-year median and five-year highs of 4.9X.


IMMEDIATE SIGNALS


Current Signal: Sell

Trend: Bear

Trend Movement: Average

Trend Volatility: 92.6%

Trend Mood: Normal


Short Term: Down

Intermediate Term: Down

Long Term: Down


Today's Volume: 18.52 M

Average 30D Volume: 17.3 M

Market Cap: 106.82 B


Nvidia: SCORE - 52 (BUY)


News Today: Elon Musk's artificial intelligence venture, xAI, is reportedly in the process of raising up to $6 billion. The funds are intended for purchasing 100,000 Nvidia chips.


xAI's latest funding round is expected to close early next week, as reported by CNBC on Friday. It includes $5 billion from Middle Eastern sovereign funds and an additional $1 billion from other investors. Some of these investors may be looking to increase their stakes.


This fundraising would value Musk's AI startup at $50 billion, more than doubling the $24 billion valuation in its previous round of funding in May.


IMMEDIATE SIGNALS


Current Signal: Buy

Trend: Bull

Trend Movement: Average

Trend Volatility: 100%

Trend Mood: Normal


Short Term: Down

Intermediate Term: Up

Long Term: Up


Today's Volume: 250.13 M

Average 30D Volume: 226.03 M

Market Cap: 3.48 T




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