Yahoo Finance The Zacks Analyst Blog Highlights Amazon.com, Novo Nordisk, Qualcomm, Booking Holdings and Chubb
For Immediate Release
Chicago, IL – March 23, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amazon.com, Inc. AMZN, Novo Nordisk A/S NVO, Qualcomm Inc. QCOM, Booking Holdings Inc. BKNG and Chubb Ltd. CB.
Here are highlights from Wednesday’s Analyst Blog:
Top Stock Reports for Amazon, Novo Nordisk and Qualcomm
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Amazon.com, Inc., Novo Nordisk A/S and Qualcomm Inc.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Shares of Amazon.com lagged the broader market (-38.7% vs. -11.2% for the S&P 500) and the Zacks Tech sector (-14%) over the past year, reflecting fears of an extended period of post-Covid retrenchment in the company's capacity both in the retail as well as cloud businesses. Further, softness in online shopping activities remains a negative for its online stores.
These near-term challenges notwithstanding, Amazon's AWS business remains well positioned for the eventual recovery in business cloud spending. Ultrafast delivery services and expanding content portfolio effectively guarantee that Amazon hangs onto its market share in this period of weakness. Strengthening relationships with third-party sellers was a positive. Robust advertising business contributed well.
Improving Alexa skills along with robust smart home products offerings were tailwinds. Amazon's strong global presence and solid momentum among the small and medium businesses remain positives.
(You can read the full research report on Amazon.com here >>>)
Novo Nordisk shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+34.7% vs. +2.9%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus have been performing well in the market. Drug sales have been gaining and maintaining momentum.
Label expansion of the existing drugs is likely to further boost sales. Ozempic is off to a solid start since its launch and will drive growth for the company. The launch of Rybelsus also looks impressive.
The supply issues with Wegovy have been resolved. The company has been diversifying its efforts to develop new treatments, which is encouraging. The patent expiry on some of the products in Novo Nordisk's portfolio remains a woe.
(You can read the full research report on Novo Nordisk here >>>)
Qualcomm shares have underperformed the Zacks Wireless Equipment industry over the past year (-19.0% vs. -15.5%). The company has offered a muted outlook for the second quarter due to rapid deterioration in demand and high channel inventory amid a challenging macroeconomic environment and business uncertainty.
Qualcomm expects softness in the handset market and weaker overall mix of devices. High research and development costs are also expected to dent margins. However, Qualcomm is well-positioned to benefit from solid 5G traction with greater visibility and a diversified revenue stream. The buyout of Veoneer is likely to further augment its automotive business.
It is focusing on the seamless transition from a wireless communications firm for the mobile industry to a connected processor company for the intelligent edge. It is also witnessing healthy traction in EDGE networking that helps to transform connectivity across diverse IoT devices.
(You can read the full research report on QUALCOMM here >>>)
Other noteworthy reports we are featuring today Booking Holdings Inc. and Chubb Ltd.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Chubb Limited (CB) : Free Stock Analysis Report
Booking Holdings Inc. (BKNG) : Free Stock Analysis Report
