When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may…
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What are the best cloud stocks to buy today? In this time of uncertainty characterized by volatile market movements, economic contraction, and spiraling unemployment, finding stocks that would guarantee returns, let alone preservation of capital, seems like a herculean task. Some investors might think that the stock market is acting irrationally and puzzled by the […]
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Yahoo Finance’s Editor-in-Chief Andy Serwer joins The First Trade with Alexis Christoforous and Brian Sozzi to discuss the possibility of Microsoft buying ByteDance’s TikTik operations in the United States. Serwer also breaks down what this means for the overall social media industry.
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Shares of Caterpillar (CAT) fell almost 2.8% on Friday despite beating 2Q earnings estimates. Its 2Q adjusted earnings of $1.03 per share exceeded analysts’ estimates of $0.64. Moreover, revenues of $10 billion surpassed Street estimates of $9.38 billion. However, the company's outlook for dealer inventories weighed on its stock.During the second quarter, dealers reduced inventories for new equipment by $1.4 billion. The company now anticipates dealer inventories to decline by over $2 billion in 2020, up from its previous estimate of $1.5 billion.Following 2Q earnings, Oppenheimer analyst Noah Kaye reiterated his Hold rating on the stock. He said, "While decrementals of 32% were consistent with our cross-cycle analysis, sales in construction, mining, and E&T broadly showed resilience."On July 24, Stifel Nicolaus analyst Stanley Elliott lifted the price target to $150 (12.9% upside potential) from $135 and reaffirmed a Buy rating. Elliott highlighted several “recent data points that suggest some upside relative to expectations for the machinery business.” He argued, “The results of component supplier Carlisle Brake & Friction, as well as Volvo Construction Equipment trends that were better than feared, suggest potential upside to Q2 and Q3 sell-side expectations, particularly in Caterpillar's machinery segments.”Overall, CAT analysts have a cautiously optimistic Moderate Buy consensus on the stock. The average analyst price target stands at $139.89, implying 5.3% upside potential from current levels. (See CAT stock analysis on TipRanks).Related News: Comcast Beats Estimates On Robust Internet Customer Growth Molson Coors Delivers Q2 Earnings Beat Despite Covid-19 Fallout Expedia Incurs Hefty Q2 Loss; Top Analyst Sticks To Buy Call More recent articles from Smarter Analyst: * GM, EVgo Team Up To Add 2,700 EV Fast Chargers; CS Says Buy Stock Now * Microsoft Said To Halt TikTok Talks As Wedbush Says Deal Makes ‘Strategic Sense’ * Pinterest Pops 36% After Quarterly Revenue Beat Fueled By Ad Recovery * Spirit To Slash 1,100 Jobs Due To 737 MAX Production Cut, Covid-19 Woes
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