Gainers:
Tesla +27.17%: Several vectors of growth for Tesla. The automaker reported above-consensus quarterly sales (443,956 vehicles delivered vs. 436-438,000 expected), albeit down 4.8% on the same period last year. This is a strong comeback for Elon Musk's group, as the market was expecting a clear setback this quarter, with demand for electric vehicles still turbulent worldwide. The Group also obtained permission from the German authorities to expand its production site near Berlin, an expansion strongly contested by local residents. Finally, the Group's cars have been endorsed by the Chinese government, which has added them to its list of authorized service vehicles. Shares in Chinese competitors such as Nio and Li Auto are also up sharply. On Semiconductor +7.05%: The chipmaker rebounded nicely after announcing the acquisition of SWIR Vision System, a provider of technologies that extend the detectable light spectrum to see through objects and capture images. According to ON Semiconductor, the acquisition will significantly enhance the company's portfolio of smart sensing products, paving the way for further growth in key markets such as industrial, automotive and defense. Paramount Global +13.67%: The saga surrounding the purchase of Paramount's assets, which began in April, continues. This week, the American entertainment giant announced that it had entered into exclusive talks to sell its BET (Black Entertainment Television LLC) network to a consortium of buyers that includes BET CEO Scott Mills and Chinh Chu, head of private equity firm CC Capital, for $1.6 to $1.7 billion. Earlier in the week, National Amusements, owned by Shari Redstone, said it had reached a preliminary agreement to sell its majority stake in Paramount to Skydance Media. However, some analysts remain skeptical that the deal will go through, citing the numerous twists and turns that have taken place in the past.
Losers: Chewy -8.30%: The company specializing in pet products retracted its gains over the week, following the dizzying 32% rise recorded the previous week. News that influencer Keith Gill, aka "Roaring Kitty", holds a stake in Chewy cooled the speculative movement on the stock that he had provoked the previous week with a simple dog meme. Walgreens Boots Alliance -6.90%: The pharmacist continues to fall after the publication of its quarterly results. Earnings per share were down 36% year-on-year. The group is facing a downturn in consumer spending in the United States, which is affecting its entire sector. As a result, the chain announced the closure of a quarter of its outlets and revised downwards its EPS guidance range for 2024 by 15%. As a result, RBC Capital Markets has reduced its price target to $13, down from $22. Masimo Corporation -8.88%: The US specialist in medical monitoring technologies and audio systems is hampered by the activist campaign led by Politan Capital Management LP and the ensuing conflicts within its board of directors. This week, the group dismissed its CEO, despite the COO's threats to resign if necessary.
Abbvie -2.49%: This week, the pharmaceuticals group cut its adjusted earnings forecast for 2024 to between $10.61 and $10.81 per share, compared with the previous estimate of $11.13 to $11.33 per share. It blames higher research and development costs, as well as costs linked to the Group's acquisitions (Celsius Therapeutics, announced at the end of June, and Immunogen, finalized in February). US healthcare stocks have been trending downwards in recent days. |
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