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- 🍿 This Small Theater Stock Could Be in For Big Gains
🍿 This Small Theater Stock Could Be in For Big Gains
Plus, this company's operating loss tripled.
Hi All - Happy Wednesday.
We are going to continue offering polls this week to gather your thoughts on “The Midday Trade” and help us make a decision on how to move forward with it.
There are 3 Days left to give us your feedback on the “Midday Trade,” and any input is greatly appreciated!
What did you think of "The Midday Trade"? |
Moving on, here’s what you missed this morning:
🟩 | Market Snapshot: Stocks soared higher this morning, with the S&P 500 and Nasdaq jumping roughly 2% higher. This comes as large-cap tech stocks that got hit hard by a sell-off are now seeing a bounce back.
👀 | In focus: The Fed’s two-day policy meeting will be wrapping up today. Investors expect the central bank to keep rates steady at the meeting, but they are closely watching Powell’s statements in hopes he’ll allude to a September rate cut.
🙂 | Noteworthy: The employment cost index, the broadest measure of labor costs, increased by 0.9% in Q2, a marked decline from Q1’s 1.2% increase. This news should help bolster the chances of a September rate cut, as it’s another piece of evidence showing inflation is back on a downward trend.
🍿 | The Midday Trade: This Small Theater Stock Could Be in For Big Gains. Scroll down for more.
Also, it's the last day of the month, which means it's time for the Last Cast Letter. This month, we're breaking down global tourism trends and how to potentially seize the future of the European hospitality sector. One-click subscribe to read "Barcelona Beckons," which will drop in your inbox later today.
Plus, where will the gold come from to satisfy the explosive and sudden global demand? Scroll down to see more.
TOGETHER WITH THE CALIBRE
There is huge potential for a new precious metal-backed currency colliding with the West’s colossal fiat-based debt obligations (over $32 TRILLION in the US alone)...
Which could spark a new global surge in gold demand.
And so, the question investors want to know is…
Where will the gold come from to satisfy the explosive and sudden global demand?
Here’s the answer >>> Click Here.
By clicking the link above you agree to receive this special offer from Tips for Traders and also receive the “Tip of the Day” Newsletter. To see the privacy policy, tap here.
STREET STATS
MORNING MOVERS
AMD: Shares of Advanced Micro Devices surged after reporting that its gaming revenue fell 59%, but its data center revenue increased by 115% (TH)
PINS: Pinterest’s stock plummeted this morning after reporting a beat on both top and bottom lines, but it offered weak guidance (CNBC)
INTC: Intel’s stock rose after Bloomberg reported that the company plans to eliminate thousands of jobs to reduce costs (Bloomberg)
MSFT: Shares of Microsoft moved lower as investors focused on disappointing Azure revenue rather than a 15% YoY increase in total revenue (CNBC)
SBUX: Starbucks’ stock rose despite missing revenue expectations as the coffee chain reiterated its outlook provided last quarter (Kiplinger)
TOP CALLS
American Tower: JP Morgan Maintains Overweight on American Tower, Raises Price Target to $240 (Trade It)
Arista Networks: Jefferies Maintains Buy on Arista Networks, Raises Price Target to $380 (Trade It)
LendingClub: Keefe, Bruyette & Woods Maintains Market Perform on LendingClub, Raises Price Target to $11.5 (Trade It)
Premier Financial: Janney Montgomery Scott Downgrades Premier Financial to Neutral (Trade It)
Caesars Entertainment: Jefferies Maintains Buy on Caesars Entertainment, Lowers Price Target to $60 (Trade It)
Sensata Technologies: Oppenheimer Maintains Outperform on Sensata Technologies, Lowers Price Target to $47 (Trade It)
THE MIDDAY TRADE
Movies are Back
Movie theater stock Marcus Corporation (MCS) has taken a beating, down 18% over the past year. Now, analysts think it could be a strong buying opportunity.
The film industry is getting back to normal post-Covid and post-strike, and investors may be able to take part in the bounce back, according to analyst Mike Hickey. In fact, Hickey views Marcus Corporation’s stock as one of his best ideas for 2024.
Good Price Point
The stock is underperforming its peers so far this year, and Hickey believes that makes its current price attractive. He believes the company is in a strong position to benefit from the film industri’s rebound, as many similar stocks already have.
At a $500 million market cap, Marcus is notably smaller than many of the movie theater stocks that have seen a significant jump. However, it recently took over a Minnesota theater and is expanding. It also operates hotels and restaurants.
Taking Part in the Comeback
Americans are going back to the movies, recently evidenced by the record-setting opening of “Deadpool & Wolverine.” Hickey has set an $18 price target, which represents a 44% upside from Monday’s closing price. It has already jumped over 13% this month and should have plenty of room to grow if Hickey is correct.
The industry has had a tough few years, and it seems that things are starting to look up. This stock could be a relatively cheap way for investors to gain exposure to the comeback of the American movie scene.
TOGETHER WITH THE CALIBRE
There is huge potential for a new precious metal-backed currency colliding with the West’s colossal fiat-based debt obligations (over $32 TRILLION in the US alone)...
Which could spark a new global surge in gold demand.
And so, the question investors want to know is…
Where will the gold come from to satisfy the explosive and sudden global demand?
Here’s the answer >>> Click Here.
By clicking the link above you agree to receive this special offer from Tips for Traders and also receive the “Tip of the Day” Newsletter. To see the privacy policy, tap here.
SURVEY THE STREET
Boeing reported a wider-than-expected loss in its Q2 earnings report. In fact, its core operating loss was more than triple the loss from a year ago, coming in at a staggering $1.4 billion.
The loss is primarily tied to Boeing’s continued manufacturing malfunctions and the increased safety scrutiny it is now under.
However, there is a glimmer of hope. The plane manufacturer announced that CEO Dave Calhoun is retiring and will be replaced by Robert “Kelly” Ortberg, the former CEO of supplier Rockwell Collins.
Ortberg stated that “there is much work to be done." So, the question now is whether he’ll be able to bring about the changes necessary to right Boeing’s woes.
Will Boeing's new CEO be able to fix the company's persistent manufacturing issues? |
Plus, Yesterday’s Poll + Results:
🟨🟨⬜️⬜️⬜️⬜️ Yes ✅
🟩🟩🟩🟩🟩🟩 No ❌
What did you think of today's edition? |
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