- The Moderna, Inc. (NASDAQ: MRNA) stock jumped over 212% YTD.
- Square, Inc. (NYSE: SQ) reported a revenue of US$4.68 billion in Q2, FY21.
- Beckton, Dickinson, and Company (NYSE: BDX) revenue rose over 26% YoY in Q3, FY21.
The strong third-quarter earnings have lifted the market confidence in recent weeks after a dull show in September amid worries over supply disruptions, inflation, and the Fed’s taper plans.
Here are five stocks that are likely to gain traction as the market opens today.
Moderna, Inc. (NASDAQ: MRNA)
Moderna is a pharmaceutical and biotechnology company based in Massachusetts. It specializes in RNA therapeutics and vaccines. Analysts are expecting strong third-quarter results on Thursday due to its Covid-19 vaccine sales. Countries like India and Australia also approved Moderna's vaccines during the period.
The shares of the company traded at US$343.60 at 11:09 am ET on Nov 3, down 1.45% from their previous close. Its market cap is US$138.22 billion, and its stock value increased by around 212% YTD.
In the second quarter, its revenue was US$4.35 billion, against US$67 million in the same period a year ago. Its net income was US$2.78 billion compared to a loss of US$117 million in Q2, FY20.
Square, Inc. (NYSE: SQ)
Square, Inc. is a financial services company based in San Francisco, California. Investors will closely watch its quarterly earnings on Thursday. Most experts believe it has long-term growth potential.
The stock was priced at US$250.58 at 11:12 am ET on Nov 3, up 0.63% from its previous close. The stock rose over 12% YTD, and its market cap is US$114.97 billion.
The company's revenue was US$4.68 billion in Q2, FY21, compared to US$1.92 billion in the year-ago quarter, while its net income came in at US$203.67 million, versus a loss of US$11.47 million in Q2, FY20.
Airbnb, Inc. (NASDAQ: ABNB)
Airbnb is a vacation rental company based in San Francisco, California. It provides an online booking platform for lodging and other tourism activities. Its earnings will provide some clarity on how the travel industry performed in the third quarter when the outbreak of the Covid-19 delta variant caused fresh lockdowns.
Although most travel restrictions have been lifted in recent weeks, the Delta outbreak might have negatively impacted the companies’ earnings during the quarter.
Its shares were traded at US$173.00 at 11:14 am ET on Nov 3, up 0.08% from their previous close. Its stock price grew about 24% YTD. The company has a market cap of US$103.21 billion.
In the second quarter, the company's revenue was US$1.33 billion, compared to US$334.77 million in the year-ago quarter. It reported a net loss of US$68.21 million against a loss of US$575.58 million in Q2, FY20.
Uber Technologies, Inc. (NYSE: UBER)
Uber Technologies is a transportation company based in San Francisco, California. It offers mobility services.
The ride-hailing company’s earnings will be closely watched since it might provide some clues on how the driver shortage and wage hikes might have impacted the sector.
The stock was priced at US$45.99 at 11:30 am ET on Nov 3, up 7.23% from its previous close. The stock fell around 16% YTD, and its market cap is US$89.04 billion.
In the second quarter, the revenue was US$3.92 billion, compared to US$1.91 billion a year ago. Its attributable net income was US$1.14 billion against a loss of US$1.77 billion in Q2, FY20.
Duke Energy Corporation (NYSE: DUK)
Duke Energy is a holding company that specializes in electric power and natural gases. It is based in Charlotte, North Carolina.
The company's servicing areas witnessed mixed weather patterns. While some parts experienced warmer-than-normal temperatures, other parts experienced colder-than-normal. So, it is expected that the weather conditions may have affected its quarterly performance to some extent. However, the economic recovery and the increased sales in several allied sectors might have helped improve its third-quarter earnings.
Its shares traded at US$101.79 at 11:44 am ET on Nov 3, down 0.64% from their previous close. Its stock price increased by about 14% YTD. The company has a market cap of US$78.55 billion.
The total operating revenues were US$5.75 billion in Q2, FY21, versus US$5.42 billion in the comparable period of the previous year. Its net income was US$698 million against a loss of US$892 million in Q2, FY20.
Companies from various sectors like financials, technology, and retail have reported solid earnings in the third quarter, lifting the indices to record highs in recent days. However, investors should evaluate the companies closely before investing in stocks.