This Transplant Services Company Is One to Watch

Good morning. Today is August 1, and we’re going to take a look at Meta, Anheuser-Busch InBev, and Carvana’s strong earnings; Moderna’s weak results; a transplant services company you should keep your eye on; and all the other movers and shakers of the day.

Previous Close 📈

Stocks rallied yesterday after Fed Chair Jerome Powell indicated the possibility of cutting rates in September if inflation continues to ease. All three key indices were in green, with the tech-heavy Nasdaq up by 1.58%.

Futures

Futures are also rising today, reflecting the latest round of corporate earnings reports, especially the strong results of Meta Platforms.

What to Watch

It’s a busy morning as ConocoPhillips, Eaton Corporation, Regeneron Pharmaceuticals, The Cigna Group, and Southern will declare their earnings before the opening bell.

Initial Jobless Claims for July and U.S. productivity data for the second quarter will be released at 8:30 a.m., while the S&P U.S. manufacturing PMI will be out by 9:45 a.m. ISM Manufacturing and Construction Spending data will be reported at 10:00 a.m.

Tech giants Apple, Amazon, and Intel will also announce their quarterly results after the market closes today.

Retail & Consumer

Anheuser-Busch InBev Reports Strong Q2 Profit Growth

Anheuser-Busch InBev (BUD) reported a 10.2% rise in second-quarter normalized core profit (EBITDA), beating analysts' forecasts of 8.3% growth. This strong performance was driven by cost cuts despite weaker sales. The brewer's shares gained 1.75%, contrasting with a 9% drop in Heineken shares earlier in the week.

AB InBev's CEO, Michel Doukeris, highlighted the company's focus on zero-alcohol brews, non-beer products, digital sales, and efficiency improvements.

Given the strong results, the company maintained its full-year guidance despite declining volumes in China and Argentina and a consumer boycott in the U.S.

The Breakout Trading Secret That Could Give You an Unfair Advantage

Trading price action can be risky, but what if you could turn the odds in your favor? Every day you trade without a solid strategy, you're potentially leaving money on the table or worse, losing your hard-earned capital.

The market doesn't wait for those who aren't prepared, and missed opportunities can cost you dearly. This proven trading plan reveals how to identify and capitalize on powerful market moves, potentially giving you an unfair advantage over other traders.

Don't let another profitable trade slip away.

Gain the Edge – Download Your Breakout Trading Plan Now

» Want an Ad-Free Experience + Top Growth Stock Picks? Upgrade Now! 

Automobiles

Carvana Shares Soar on Strong 2024 Profit Forecast

Carvana shares are surging nearly 13% in pre-market trading after the used car retailer projected a 2024 core profit above Wall Street estimates. The company forecasted adjusted EBITDA between $1 billion and $1.2 billion, surpassing analyst expectations.

Despite recent challenges, including declining used vehicle prices and measures like halting share buybacks, Carvana's shares have more than doubled this year, with a potential $4 billion market value increase if gains hold.

Technology

Meta’s Q2 Results Impress, Reinforcing AI and Metaverse Commitments

Meta Platforms Inc. reported better-than-expected Q2 sales driven by AI-enhanced targeted ads. This success is buying CEO Mark Zuckerberg more time to prove the value of the company's investments in AI and the metaverse.

Meta reported Q2 sales of $39.1 billion, surpassing the $38.3 billion forecast, and expects Q3 sales between $38.5 billion and $41 billion.

The company raised its full-year capital expenditures forecast to $37-40 billion, focusing on AI and metaverse projects. Reality Labs, however, reported a Q2 loss of nearly $4.5 billion. Meta's shares are rising nearly 7% in early trading.

Biotechnology

Moderna Reduces 2024 Sales Expectations, Reports Q2 Loss

Moderna has cut its 2024 sales forecast for its COVID-19 and RSV vaccines by up to 25%, anticipating low sales in the EU. The company now expects annual sales between $3 billion and $3.5 billion, down from an earlier $4 billion estimate.

This adjustment follows discussions with EU officials over vaccine contracts. Moderna reported a net loss of $1.3 billion for Q2, with total revenue at $241 million, down from $344 million last year. The company remains hopeful for sales growth in 2025.

Spire Inc. [SR] - Last Close: $66.59

Spire Inc.’s stock is rallying by more than 50% in pre-market trade on the back of improved earnings.

The company reported narrowing its net economic earnings loss to $0.14 per share for Q3, a significant improvement from the $0.42 per-share loss in the same quarter of the previous year.

It also updated its fiscal year 2024 earnings guidance to a range of $4.15 to $4.25 per share.

Immuneering Corporation [IMRX] - Last Close: $1.130

Immuneering Corporation is up by nearly 30% in pre-market trade.

The stock is rallying following the announcement that the FDA granted Fast Track designation for its lead program, IMM-1-104, as a first-line treatment for pancreatic ductal adenocarcinoma (PDAC).

This designation facilitates development and expedites the review of the drug, putting the company on a potential path to addressing a critical unmet need in cancer treatment.

CareDx, Inc. [CDNA] - Last Close: $19.99

CareDx shares surged 24% in after-hours trading yesterday and are continuing the momentum before the bell today.

The stock rallied after CareDx raised its 2024 revenue forecast to the $320 million to $328 million range, significantly higher than its previous estimate of $274 million to $282 million, and reported strong Q2 financial results that beat expectations.

The transplant services company also reported a non-GAAP net income of $13.6 million, driven by a 33% year-over-year increase in testing services revenue and a slight decrease in operating expenses.

Everything Else

• Rolls-Royce shares hit a record high after its dividend reinstatement and profit forecast.

• Barclays saw a 9% drop in profit despite strong investment banking performance.

• Shell beat profit forecasts and is initiating a $3.5 billion share buyback.

• Powell signaled a possible rate reduction as inflation eases.

• Toyota reported a 17% increase in Q1 profit, driven by cost cuts and a weak Yen.

• Microsoft's AI investment is boosting Nvidia and semiconductor shares.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

Click here to get our daily newsletter straight to your cell for free.

P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP.