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Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers. The firm was founded in 2005 as a file-sync and sharing provider. More recently, however, the company has focused on bolstering its product portfolio by adding tools such as governance and e-signature to enhance workflow management and collaboration.

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Following President-elect Donald Trump&#8217;s victory, top tech executives have congratulated him and expressed their willingness to work with his administration.
What Happened: On Wednesday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), SpaceX, and Neuralink CEO Elon Musk, a key ally to Trump during his campaign, unsurprisingly congratulated the President-elect.
Trump has previously spoken about <a href="https://www.benzinga.com/startups/24/11/41704205/elon-musk-says-we-can-cut-2-trillion-out-of-the-harris-biden-budget-and-that-americans-money-is-bein">creating a position for Tesla CEO</a> in a &#8220;department of government efficiency&#8221; to reduce the federal workforce.
Following the victory, Tesla shares surged over 14%, with investors hopeful that a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41766869/trump-win-biggest-positive-for-elon-musks-tesla-tech-bull-says-it-could-boost-ev-gi">Trump presidency would benefit</a> the company.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It is morning in America again <a href="https://t.co/GNTE0cUWoc">pic.twitter.com/GNTE0cUWoc</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1854201929519247803?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Other tech behemoths such as Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) boss Sundar Pichai, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg congratulated Trump.
Bezos praised Trump&#8217;s win as an &#8220;extraordinary political comeback and decisive victory.&#8221; Before Election Day, Bezos and The Washington Post sparked controversy by <a href="https://www.benzinga.com/24/10/41590684/jeff-bezos-says-this-is-mainstream-medias-biggest-problem-after-washington-post-ends-endorsement-for">withholding an endorsement</a> for the first time in decades. Bezos defended the decision in an op-ed, citing concerns over &#8220;perception of bias.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big congratulations to our 45th and now 47th President on an extraordinary political comeback and decisive victory. No nation has bigger opportunities. Wishing <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> all success in leading and uniting the America we all love.
&mdash; Jeff Bezos (@JeffBezos) <a href="https://twitter.com/JeffBezos/status/1854184441511571765?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/11/41735837/ai-haves-vs-have-nots-palantirs-ryan-taylor-outlines-companys-winning-strategy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;AI Haves Vs. Have-Nots&#8217;: Palantir&#8217;s Ryan Taylor Outlines Company&#8217;s Winning Strategy</a>
Apple CEO and Google boss also congratulated Trump, expressing their eagerness to engage with the new administration.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations President Trump on your victory! We look forward to engaging with you and your administration to help make sure the United States continues to lead with and be fueled by ingenuity, innovation, and creativity.
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1854225875002396860?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations to President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> on his decisive victory. We are in a golden age of American innovation and are committed to working with his administration to help bring the benefits to everyone. <a href="https://t.co/IPX7AJ8VvI">pic.twitter.com/IPX7AJ8VvI</a>
&mdash; Sundar Pichai (@sundarpichai) <a href="https://twitter.com/sundarpichai/status/1854207788290850888?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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OpenAI CEO Sam Altman and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella also took to X, formerly Twitter, to congratulate the President-elect. In the follow-up post, Altman also stressed the importance of the U.S. maintaining its leadership in AI development while upholding democratic values.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">it is critically important that the US maintains its lead in developing AI with democratic values.
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1854203149617389668?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations President Trump, we're looking forward to engaging with you and your administration to drive innovation forward that creates new growth and opportunity for the United States and the world.
&mdash; Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1854216231991271547?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Zuckerberg also took to Threads, and acknowledged Trump&#8217;s &#8220;decisive victory.&#8221; He also expressed optimism about future opportunities.
Earlier in September, Trump said Zuckerberg told him during a call after the July assassination attempt that he will <a href="https://www.benzinga.com/news/24/09/40785288/did-mark-zuckerberg-really-say-no-way-i-can-vote-for-a-democrat-in-this-election-to-trump">not vote for a Democrat</a> in this election. However, a Meta spokesperson denied this, stating that Zuckerberg has not endorsed either Trump or Kamala Harris.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06214849/Screenshot-2024-11-07-at-8.18.42%E2%80%AFAM-1024x276.png" alt="" class="wp-image-634175" /><figcaption class="wp-element-caption">Source: Threads</figcaption></figure>
Others including Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) CEO Pet Gelsinger, IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) CEO Arvind Krishna, Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) CEO Chuck Robbins, Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) CEO Dara Khosrowshahi, and Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) CEO Aaron Levie, also extended their congratulations to Trump.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We congratulate President-Elect Trump and Vice President-Elect Vance on their victory and look forward to working with their administration to advance America's technology and manufacturing leadership in the world.
&mdash; Pat Gelsinger (@PGelsinger) <a href="https://twitter.com/PGelsinger/status/1854220957591953743?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06215629/Screenshot-2024-11-07-at-8.26.24%E2%80%AFAM-1024x341.png" alt="" class="wp-image-634177" /><figcaption class="wp-element-caption">Source: LinkedIn</figcaption></figure>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cisco looks forward to working with the incoming Trump Administration and Congress—as well as the governors, state lawmakers, and local officials across the US—to advance policies that bolster connectivity, innovation, cybersecurity, and more.
&mdash; Chuck Robbins (@ChuckRobbins) <a href="https://twitter.com/ChuckRobbins/status/1854194562266255811?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> on a resounding victory. We stand ready to work with you and your administration on ways to improve transportation, empower small businesses, and raise the bar for flexible work.
&mdash; dara khosrowshahi (@dkhos) <a href="https://twitter.com/dkhos/status/1854256317483130892?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wild ride. Congrats to <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> on becoming President again. What's great about America is that we're on a rocket ship right now and can keep accelerating with the right policies and execution.
&mdash; Aaron Levie &#x1f1fa;&#x1f1f8; (@levie) <a href="https://twitter.com/levie/status/1854059536405152024?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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On the other hand, LinkedIn co-founder Reid Hoffman, a prominent supporter of Vice President Harris' campaign, while acknowledging Trump&#8217;s win, urged Americans to unite.
&#8220;I—and many others—raised alarms about the anti-democratic actions Donald Trump took during his first Presidency, and has promised to take this next time,&#8221; he said in a post on X, adding that Trump's supporters assured him that such behavior wouldn't continue.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We now have a President-elect of the United States: Donald Trump. It is clear that he has again won the presidency in a country where we enjoy relatively unfettered rights to vote, speak out, and steer our futures. In January, we will enjoy a peaceful transfer of power. Peaceful…
&mdash; Reid Hoffman (@reidhoffman) <a href="https://twitter.com/reidhoffman/status/1854253729756917907?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Why It Matters: Previously, it was reported that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41755274/trump-win-could-hinder-tech-ev-sector-growth-slow-the-pace-of-ai-revolution-analyst">technology investors are concerned</a> that Trump&#8217;s presidency could lead to higher tariffs, straining U.S.-China relations and disrupting the tech supply chain.
Companies like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Apple, and Tesla may face retaliation from China. Analysts also fear that the President-elect&#8217;s administration could slow the AI revolution.
GOP sweep of the White House and Congress could boost the stock market but negatively impact Big Tech, the analysts have stated.
Trump&#8217;s presidency could also <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">hurt the broader EV market</a> due to the loss of tax incentives. However, Tesla's size and position could provide an edge, as higher tariffs could limit competition from Chinese companies like BYD and Nio.
During Trump's first term, many tech leaders openly opposed him, resigning from advisory councils and challenging his policies.
However, they faced consequences, including Amazon's claim that it lost a $10 billion Pentagon contract due to Trump's alleged personal vendetta against Bezos, <a href="https://www.nytimes.com/2024/11/06/technology/trump-musk-ai-crypto.html">reported</a> the New York Times.
This time, tech leaders are taking a different approach. Some, like Zuckerberg, who Trump threatened to put in jail, began aligning with the President-elect before the election. Former critics, including Bezos, have refrained from public criticism, the report noted.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/11/41705075/jeff-bezos-backed-perplexitys-new-ai-election-hub-promises-real-time-vote-counts-and-candidate-summa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Perplexity&#8217;s New AI Election Hub Promises Real-Time Vote Counts And Candidate Summaries — But What About Its Accuracy?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

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Tim Cook, Mark Zuckerberg, And Jeff Bezos Congratulate Trump: What's Next For The Tech Giants?

Box customers can now use Amazon Bedrock to build applications with their data and foundation models, starting with Anthropic's Claude and Amazon Titan foundation models
New Box connector for Amazon Q accelerates employee productivity with generative AI
Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>), the leading Intelligent Content Management platform, and Amazon Web Services (AWS), an Amazon company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), today announced an expanded strategic partnership that will empower organizations of all sizes to build new applications and maximize productivity with generative AI. Box customers can now access foundation models directly in Box AI using Amazon Bedrock, starting with Anthropic's Claude and Amazon Titan. With this integration, companies can quickly and securely build generative AI applications by combining some of the world's most advanced AI models with their data residing in Box's Intelligent Content Management platform. Additionally, organizations can now garner more intelligence from their data using a Box connector for Amazon Q Business, the most capable generative AI assistant for work. This is helping organizations to quickly get answers, summarize information, generate content, and securely complete tasks using their private data already managed in Box.

Box And AWS Partner To Bring Powerful Generative AI Models And Capabilities To Enterprise Content; Box Customers Can Now Use Amazon Bedrock To Build Applications With Their Data And Foundation Models, Starting With Anthropic's Claude And Amazon Titan Foundation Models

Box estimates that the net proceeds from the offering will be approximately&nbsp;$389.2 million&nbsp;(or&nbsp;$447.8 million&nbsp;if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers&#39; discounts and estimated offering expenses payable by Box. Box expects to use approximately&nbsp;$45.6 million&nbsp;of the net proceeds from the offering to pay the cost of the capped call transactions described below. Box also intends to use approximately&nbsp;$191.7 million&nbsp;of the net proceeds from this offering for the repurchase of&nbsp;$140.0 million&nbsp;principal amount of its outstanding&nbsp;0%&nbsp;Convertible Senior Notes due 2026 (the &quot;2026 Notes&quot;). Box intends to use the remainder of the proceeds from this offering for working capital and other general corporate purposes, such as the repurchase or repayment of debt, repurchases of its capital stock and potential acquisitions.

Box Prices $400M Offering Of Convertible Notes, Featuring 1.50% Interest And 30% Conversion Premium

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Box, Inc shares are trading lower. The company proposed a $400 million private offering of convertible senior notes due 2029 with an additional $60 million option.

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Box, Inc. Announces Proposed $400M Private Offering Of Convertible Senior Notes Due 2029 With Additional $60M Option, Proceeds To Support Repurchase Of 2026 Notes And General Corporate Purposes

Momentum investing is all about the idea of following a stock&#39;s recent trend, which can be in either direction. In the &#39;long&#39; context, investors will essentially be &quot;buying high, but hoping to sell even higher.&quot; And for investors following this methodology, taking advantage of trends in a stock&#39;s price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Box (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>), a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It&#39;s also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Box currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
<h2>Set to Beat the Market?</h2>
Let&#39;s discuss some of the components of the Momentum Style Score for BOX that show why this online storage provider shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For BOX, shares are up 14.51% over the past week while the Zacks Internet - Software industry is down 0.23% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 20.19% compares favorably with the industry&#39;s 1.42% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Box have risen 26.51%, and are up 26.21% in the last year. On the other hand, the S&amp;P 500 has only moved 3.12% and 23.92%, respectively.
Investors should also pay attention to BOX&#39;s average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. BOX is currently averaging 2,399,009 shares for the last 20 days.
<h2>Earnings Outlook</h2>
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with BOX.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost BOX&#39;s consensus estimate, increasing from $1.57 to $1.63 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
<h2>Bottom Line</h2>
Taking into account all of these elements, it should come as no surprise that BOX is a #2 (Buy) stock with a Momentum Score of A. If you&#39;ve been searching for a fresh pick that&#39;s set to rise in the near-term, make sure to keep Box on your short list.
<a href="https://www.zacks.com/stock/news/2332998/box-box-is-up-14-51-in-one-week-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_10-2332998">To read this article on Zacks.com click here.</a>

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Box Is Up 14.51% in One Week: What You Should Know

Vice President Kamala Harris has reportedly received public endorsements from eighty-eight current and former top executives across corporate America for her presidential bid.
What Happened: In an endorsement letter, shared exclusively with CNBC, suggests that electing Harris as president would be the &#8220;best way to support the continued strength, security, and reliability of our democracy and economy.&#8221; The endorsers believe that Harris would &#8220;continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment.&#8221;
The list of endorsers includes high-profile CEOs of public companies like Aaron Levie of Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>), Jeremy Stoppelman of Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>), and Michael Lynton, chairman of Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), CNBC <a href="https://www.cnbc.com/2024/09/06/harris-endorsed-trump-murdoch-yelp-snap-ripple.html">reported</a> on Friday.
Other notable figures endorsing Harris for the first time include James Murdoch, former CEO of 21st Century Fox (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>), and Chris Larsen, co-founder of the Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>). The list also includes prominent philanthropists, private equity billionaires, and sports magnates.
See Also: <a href="https://www.benzinga.com/news/24/09/40700524/mark-cuban-tells-elon-musk-delete-your-account-after-tech-billionaire-calls-tucker-carlsons-latest-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Tells Elon Musk &#8216;Delete Your Account&#8217; After Tech Billionaire Calls Tucker Carlson&#8217;s Latest Episode On WW2 And Churchill &#8216;Worth Watching&#8217;</a>
Why It Matters: The endorsement from these business leaders comes at a crucial time as Harris has recently proposed several tax reforms that have stirred discussions in the business community. Harris announced a plan to <a href="https://www.benzinga.com/news/24/08/40650939/kamala-harris-wants-to-tax-the-ultra-wealthy-with-unrealized-gains-tax-leaving-silicon-valley-unsett">tax the ultra-wealthy</a> through an unrealized gains tax, causing unease among Silicon Valley investors. 
Additionally, Harris has proposed raising the <a href="https://www.benzinga.com/government/24/08/40451351/kamala-harris-wants-to-raise-corporate-tax-rate-to-28-erasing-part-of-trumps-signature-tax-cuts">corporate tax rate</a> to 28%, rolling back part of former President Donald Trump&#8217;s 2017 tax cuts. This proposal was revealed on Aug. 19 and aims to increase federal revenue.
On Sep. 4, Harris unveiled a new tax plan targeting <a href="https://www.benzinga.com/news/24/09/40722526/kamala-harris-reveals-28-capital-gains-tax-for-high-earners-toning-down-bidens-proposed-rates-ahead">long-term capital gains</a>, setting the rate at 28% for high earners. This move is seen as a softer approach compared to President Joe Biden&#8216;s previously proposed rates. 
Moreover, Harris has<a href="https://www.benzinga.com/markets/24/08/40113420/mark-cuban-and-other-venture-capitalists-pledge-support-for-kamala-harris-whos-on-the-list"> already received support</a> from notable venture capitalists, including LinkedIn co-founder Reid Hoffman and others.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40686379/trump-vs-harris-veteran-pollster-nate-silver-says-vice-president-slight-underdog-to-win-the-white-ho?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Veteran Pollster Nate Silver Says Vice President &#8216;Slight Underdog To Win The White House&#8217; Due To 3 Factors But This &#8216;Disruptive Event&#8217; Could Turn Things Around</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

$XRP

FOXA

SNAP

YELP

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Morgan Stanley analyst Josh Baer maintains Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) with a Equal-Weight and raises the price target from $30 to $33.

Price Target

Morgan Stanley Maintains Equal-Weight on Box, Raises Price Target to $33

These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) shares jumped 19.43% after the company reported better-than-expected <a href="https://www.benzinga.com//node/40587744" target="_blank" rel="noreferrer noopener">second-quarter financial results</a>. A couple of analysts raised <a href="https://www.benzinga.com/quote/SMTC/analyst-ratings" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Stevanato Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STVN#NYSE">STVN</a>) stock gained 17.89% in the last week.</li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) stock escalated 17.29% after the company posted better-than-<a href="https://www.benzinga.com//node/40602443" target="_blank" rel="noreferrer noopener">expected second-quarter results</a>. Several analysts<a href="https://www.benzinga.com/quote/amba/analyst-ratings" target="_blank" rel="noreferrer noopener"> raised the price target</a>.</li>
<li>Ardent Health Partners, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARDT#NYSE">ARDT</a>) stock was up 15.16%.</li>
<li>BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>) shares increased 13.98% after the company&#8217;s CEO and CFO disclosed share purchases.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) shares increased 12.88% after the company reported better-than-expected second-quarter results and issued three-quarter and <a href="https://www.benzinga.com//node/40588205" target="_blank" rel="noreferrer noopener">FY25 guidance above estimates</a>. Some analysts raised the <a href="https://www.benzinga.com/quote/box/analyst-ratings" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Grupo Financiero Galicia S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>) shares are up 11.91% after JP Morgan upgraded the stock from Underweight to Overweight and <a href="https://www.benzinga.com/quote/ggal/analyst-ratings" target="_blank" rel="noreferrer noopener">announced a $54 price target</a>.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40675182/dollar-general-temu-parent-pdd-and-super-micro-computer-are-among-top-10-large-cap-losers-last-wee" target="_blank" rel="noreferrer noopener">Dollar General, Temu Parent PDD And Super Micro Computer Are Among Top 10 Large Cap Losers Last Week (Aug 25-Aug 31): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40674984/affirm-mongodb-and-best-buy-are-among-top-10-large-cap-gainers-last-week-aug-25-aug-31-are-the-oth" target="_blank" rel="noreferrer noopener">Affirm, Mongodb And Best Buy Are Among Top 10 Large Cap Gainers Last Week (Aug 25-Aug 31): Are The Others In Your Portfolio?</a></li>
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Photo by Sundry Photography via Shutterstock

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Ambarella, Bill Holdings And Box Are Among Top 7 Mid Cap Gainers Last Week (Aug 25-Aug 31): Are The Others In Your Portfolio?

UBS analyst Taylor McGinnis maintains Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) with a Buy and raises the price target from $31 to $34.

UBS Maintains Buy on Box, Raises Price Target to $34

Citigroup analyst Steven Enders maintains Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) with a Buy and raises the price target from $32 to $34.

Citigroup Maintains Buy on Box, Raises Price Target to $34

RBC Capital analyst Rishi Jaluria reiterated Box Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) with <a target="_blank" href="https://www.benzinga.com/quote/BOX/analyst-ratings" rel="noreferrer noopener">an Underperform rating</a> and a $21&nbsp;price target following Tuesday&#8217;s second-quarter print.
Box reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40588205/box-shares-climb-after-q2-results-eps-beat-revenues-beat-guidance-above-estimates" rel="noreferrer noopener">second-quarter&nbsp;revenue</a> of $270.04 million, beating the analyst consensus estimate of $269.18 million. Adjusted EPS of $0.44 beat the analyst consensus estimate of $0.40.
Box expects third-quarter revenue of $274.00 million &#8211; $276.00 million, versus the $270.97 million estimate, and adjusted EPS of $0.41 &#8211; $0.42, versus the $0.39 estimate.
The company expects fiscal year 2025 revenue of $1.086 billion &#8211; $1.090 billion, versus the $1.079 billion estimate, and adjusted EPS of $1.64 &#8211; $1.66, versus the $1.57 estimate.
Jaluria noted that second-quarter revenue was roughly in line, while billings were better but benefiting a bit from early renewals. Macro conditions remained stable, the analyst said. Fiscal 2025 revenue and billings guidance increased on a constant currency basis while margins were roughly unchanged, according to Jaluria&#8217;s estimate.
Finally, the analyst said NRR improved one point, driven by higher effective pricing as AI features begin to drive higher tier upgrades.
The price target of $21 reflects an 11x Enterprise Value/Free Cash Flow multiple to Jaluria&#8217;s calendar 2025 estimate of $336 million. The target multiple is a discount to the peer group, which the analyst noted as justified by the risk of commodification, competition, international slowdown, and execution track record.
Jaluria projects third-quarter revenue of $275 million and adjusted EPS of $0.41. The analyst expects fiscal 2025 revenue of $1.088 billion and adjusted EPS of $1.64.
Price Action: BOX stock traded higher by 9.65% at $31.60 at last check Wednesday.
Photo: Sundry Photography via SHutterstock

Analyst Color

Equities

Reiteration

Box's Revenue Guidance Raises Concerns Amid Competitive Pressures, Says Analyst

Wall Street faces a wave of risk-off sentiment on Wednesday, as traders adopt a cautious stance ahead of NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings, which are set to be released <a href="https://www.benzinga.com/trading-ideas/24/08/40604296/nvidias-next-earnings-report-could-swing-its-market-cap-by-300-billion-and-increase-the-s-p-500-gai">after the market close.</a>
At midday trading in New York, all major equity indices were in the red, weighed down by broad declines in chipmakers and tech stocks.
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 2%, underperforming the broader tech-heavy Nasdaq 100, down 1.1%. 
The CBOE Volatility Index or VIX, a key barometer of the fear in the market, rose 8%. 
As the last of the Magnificent Seven megacaps to report earnings, Nvidia&#8217;s results are viewed as a crucial indicator of whether the recent market rebound has more room to run, potentially pushing toward new all-time highs, or if it&#8217;s time for investors to dial back risk.
Key metrics to watch include whether Nvidia surpasses the projected $28.7 billion in quarterly revenue — a staggering 156% increase from the same quarter last year — and $0.645 earnings per share, more than triple from the same period in 2022. 
Nvidia&#8217;s forward guidance will also be critical, as investors seek insight into the demand for its leading AI-related chips and any challenges posed by China.
In a significant achievement during Wednesday&#8217;s session, Warren Buffett&#8217;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) reached <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">the milestone of a $1 trillion market valuation.</a>
The U.S. dollar is showing a modest recovery, up 0.4% after closing Tuesday at its lowest level since July 2023. Treasury yields remain stable, while gold is struggling, down 0.6%, with silver experiencing a sharper 2% decline.
Oil prices continue to fall, with WTI crude down 1.3%, as traders unload the risk premium amid easing geopolitical tensions in the Middle East and less concerning Libyan production disruptions than initially feared.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains under pressure, down 1% to $58,850, following a more than 7% decline over the past two sessions.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,053.09</td>
<td>-0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,592.49</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,191.39</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,362.15</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:10 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% down to $557.94.</li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased down 0.4% to $411.11.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 1.2% to $470.98.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $217.34.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up by 0.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 1.5%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Super Micro Computer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NYSE">SMCI</a>) plunged 26% after announcing it won&#8217;t meet the deadline to file its annual Form 10-K for the fiscal year ended June 30. This comes just a day after short-seller <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40606308/super-micro-computer-short-report-shows-limited-evidence-of-accounting-wrongdoing-a">Hindenburg Research released</a> a report accusing the company of accounting manipulation.</li>
<li>Other crypto-related stocks weakened, with CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) down 5.3%, 4.7% and 4.6% respectively. </li>
<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rallied 14% in reaction to its upbeat quarterly earnings.</li>
<li>Other stocks reacting to company earnings were Abercrombie &amp; Fitch Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) down 17%, Ambarella Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) up 9%, Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) down 6%, Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) up 7.5%, Donaldson Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) down 4.3%, Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) down 12%, Nordstrom Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) up 4%, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) up 6.6%, SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) down 2% and J.M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) down 5.8%.</li>
<li>Companies reporting after the close included Nvidia Corp., Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), NetApp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>), Cooper Companies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>), Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) and Victoria Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
</ul>
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SOXX

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US Stocks, Chipmakers Fall Ahead Of Nvidia Earnings, Berkshire Hits $1 Trillion, Super Micro Computer Sinks: What's Driving Markets Wednesday?

U.S. stocks were mixed, with the Dow Jones index gaining around 50 points on Wednesday.
Shares of Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) rose during Wednesday's session following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40599429/kohls-q2-earnings-profit-beat-inventory-decline-margin-growth-and-more">second-quarter financial results.</a>
The company reported a net sales decline of 4.2% Y/Y to $3.525 billion, with comparable sales for the quarter decreasing 5.1% Y/Y. Total revenue stood at $3.732 billion. The analyst consensus estimate was $3.583 billion. EPS was 59 cents, beating the analyst consensus estimate of 44 cents.
Kohl&#8217;s shares climbed 5.6% to $20.71 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Waldencast plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WALD#NASDAQ">WALD</a>) jumped 41.5% to $4.0920 after the company reported second-quarter revenue growth.</li>
<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) gained 17.6% to $209.40 after multiple analysts upgraded the stock and raised their price targets.</li>
<li>VNET Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) gained 17.1% to $2.34 following second-quarter results.</li>
<li>Xiao-I Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIXI#NASDAQ">AIXI</a>) rose 12.3% to $5.45.</li>
<li>Bioceres Crop Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOX#NASDAQ">BIOX</a>) climbed 12.1% to $11.32. Bioceres Crop Solutions received green light for cultivation of Drought Tolerant HB4 Wheat in the United States.</li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) surged 11.3% to $58.82 after the company reported better-than-expected second-quarter adjusted EPS and sales.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) gained 10.1% to $31.73 after the company reported better-than-expected second-quarter financial results and issued FY25 guidance above estimates.</li>
<li>MannKind Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNKD#NASDAQ">MNKD</a>) jumped 10.2% to $5.93. Oppenheimer analyst Steven Lichtman maintained MannKind with an Outperform and raised the price target from $10 to $12.</li>
<li>Westrock Coffee Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEST#NASDAQ">WEST</a>) gained 9.9% to $9.35. Westrock Coffee Company commenced warrant exchange offer and consent solicitation.</li>
<li>The Hain Celestial Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAIN#NASDAQ">HAIN</a>) gained 10.2% to $8.93. Hain Celestial Group, on Tuesday, reported better-than-expected quarterly adjusted EPS results</li>
<li>AvePoint, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVPT#NASDAQ">AVPT</a>) jumped 8.5% to $11.69 after the company announced it commenced an offer to purchase all outstanding public warrants to purchase shares of its common stock at $2.50 per share without interest.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) gained 8.2% to $28.04 following quarterly results.</li>
<li>Concentrix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) gained 4.4% to $75.49. B of A Securities analyst Ruplu Bhattacharya upgraded Concentrix from Underperform to Neutral and raised the price target from $65 to $85.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) rose 3.3% to $49.68.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/08/40600771/ambarella-to-rally-around-61-here-are-10-top-analyst-forecasts-for-wednesday">Ambarella To Rally Around 61%? Here Are 10 Top Analyst Forecasts For Wednesday</a></li>
</ul>

Intraday Update

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Kohl's Posts Upbeat Q2 Earnings, Joins Box, Waldencast, AeroVironment And Other Big Stocks Moving Higher On Wednesday

RBC Capital analyst Rishi Jaluria reiterates Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) with a Underperform and maintains $21 price target.

RBC Capital Reiterates Underperform on Box, Maintains $21 Price Target

As of Aug 28, 2024, two stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Ambarella Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>)</h3>
<ul>
<li>On Aug. 27, Ambarella reported better-than-expected second-quarter adjusted EPS and sales. &#8220;In our second quarter, we achieved record revenue for our edge AI inference products, and we are anticipating double-digit sequential growth in our total revenue for the third quarter,&#8221; said Fermi Wang, President and CEO. The company's stock gained around 8% over the past five days and has a <a href="https://www.benzinga.com/quote/AMBA">52-week high of $76.36</a>.</li>
<li>RSI Value: 72.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>AMBA Price Action: Shares of Ambarella gained 3.2% to close at $52.79 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Box Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>)</h3>
<ul>
<li>On Aug. 27, Box reported better-than-expected second-quarter financial results and issued FY25 guidance above estimates. "As we enter the era of Intelligent Content Management, Box is delivering a singular platform that can power the lifecycle of content with intelligence built right in," said Aaron Levie, co-founder and CEO of Box. The company's stock gained around 4% over the past month and <a href="https://www.benzinga.com/quote/BOX">has a 52-week high</a> of $30.94.</li>
<li>RSI Value: 75.29</li>
<li>BOX Price Action: Shares of Box gained 0.6% to close at $28.82 on Tuesday.</li>
</ul>
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<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40596469/4-5m-bet-on-this-consumer-cyclical-stock-check-out-these-3-stocks-executives-are-buying">$4.5M Bet On This Consumer Cyclical Stock? Check Out These 3 Stocks</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40596469/4-5m-bet-on-this-consumer-cyclical-stock-check-out-these-3-stocks-executives-are-buying"> Executives Are Buying</a></li>
</ul>

Pre-Market Outlook

Top 2 Tech Stocks That May Fall Off A Cliff In August

Box shares are trading higher after the company reported better-than-expected Q2 financial results and issued Q3 and FY25 guidance above estimates.

Sentiment on Wall Street could be guarded until Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40585459/nvidia-stock-q2-earnings-preview-analyst-says-ai-cycle-far-from-over-company-has-fi">earnings are in the rearview mirror. </a>The index futures are barely holding up early Wednesday. Given the absence of any major catalyst, stocks could tread water and could move about listlessly. That said, the retail space could see some strength, encouraged by Nordstrom, Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) earnings, while some positive tech earnings could bolster sentiment toward that space.
Market strategist Ed Yardeni said in Yardeni Research&#8217;s weekly preview that Nvidia earnings are a function of AI investments by mostly other large-cap tech companies, making the AI stalwart the fulcrum of not only the AI trade but a big portion of the entire stock market rally. &#8220;Nvidia&#8217;s earnings will begin to be supported by rising demand from other tech and many non-tech companies in the S&amp;P 493,&#8221; he said.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.09%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.06%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.01%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.05%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.08% to $562, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.11% to $477.28, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session 
U.S. stocks meandered back and forth across the unchanged line on Tuesday before ending higher, with IT stocks providing the thrust. After a negative start, the indices recovered after a report showed consumer confidence rose to the highest since February amid an improvement in inflation expectations. The averages went about in a listless manner and yet had enough momentum to close in the green.
The Dow Industrials scaled a fresh closing high, although the 30-stock blue-chip average could not break above its intraday high. The S&amp;P 500 inched further toward its record close of 5,667.20 hit on July 16, while small-caps fell for a second straight session following their recent runup. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.16%</td>
<td>17,754.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.16%</td>
<td>5,625.80</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.02%</td>
<td>41,250.50</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.67%</td>
<td>2,203.00</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier expects the market to rally through the presidential election. &#8220;Historically, the stock market rallies into Presidential Election Day since the candidates are promising voters everything and anything,&#8221; he said, adding that &#8220;no taxes on tips and social security benefits are very popular, as are larger child tax credits, plus aid for first-time homeowners.&#8221;
Upcoming Economic Data
<ul>
<li>The Energy Information is due to release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>Atlanta Fed President Raphael Bostic&#8217;s speech will make a public appearance at 6 p.m. EDT.</li>
<li>The Treasury will auction five-year notes at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Nordstrom rose about 8% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results.</li>
<li>Other stocks moving on earnings are Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) (up over 23%), Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) (up over 7.50%), nCino, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) (down over 12.5%), PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) (down over 8%), Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) (up over 4%)and SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) (up over 2%).</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>), Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>), J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>), Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) and Patterson Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>) are among the key companies reporting their earnings ahead of the market open.</li>
<li>Those reporting after the close include Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), &nbsp;Cooper Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>), CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is extending the <a href="https://www.benzinga.com/trading-ideas/short-ideas/24/08/40579899/super-micro-computer-stock-falls-on-short-report-hindenburg-says-company-has-accounting">weakness seen on Tuesday on the back of a short report.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures extended their weakness and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) retreated below the $60K level. The yield on the 10-year Treasury note fell 1.1 basis points to 3.822%.
Asian stocks closed Wednesday&#8217;s session on a mixed note, while European stocks were firmer in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40594093/economist-peter-schiff-warns-fed-may-be-committing-mistake-by-lowering-rates-in-sep">Economist Peter Schiff Warns Fed May Be Committing Mistake By Lowering Rates In September As Dollar Index Falls To Lowest In Over A Year</a></li>
</ul>
Photo via Shutterstock

Futures

Previews

Economics

Federal Reserve

NCNO

PDCO

Nasdaq, S&P 500 Futures Flatline As Traders Await Earnings Report From AI Barometer Nvidia: Fund Manager Says Market Could Hold Up Until Presidential Election

Shares of Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) rose sharply in today's pre-market trading after the company reported stronger-than-expected earnings for its <a href="https://www.benzinga.com/news/earnings/24/08/40588492/nordstrom-stock-rallies-on-strong-q2-earnings-details">second quarter on Tuesday.</a>
The company reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 71 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Nordstrom shares jumped 7.8% to $22.78 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>JBDI Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBDI#NASDAQ">JBDI</a>) gained 68.5% to $17.05 in pre-market trading after jumping 102% on Tuesday. The company prices its IPO at $5 per share.</li>
<li>SaverOne 2014 Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVRE#NASDAQ">SVRE</a>) rose 37.5% to $0.3190 in today's pre-market trading after the company reported H1 financial results. Also, the company announced a strategic asset purchase agreement for Micronet Generation-3 camera products and intellectual property.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) gained 37.5% to $3.15 in pre-market trading after declining 3% on Tuesday.</li>
<li>Bolt Projects Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSLK#NASDAQ">BSLK</a>) gained 30% to $2.69 in pre-market trading after dipping 22% on Tuesday.</li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) gained 20% to $63.36 in pre-market trading following better-than-expected quarterly results.</li>
<li>Waldencast plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WALD#NASDAQ">WALD</a>) gained 18.5% to $3.44 in pre-market trading after reporting second-quarter results.</li>
<li>Aethlon Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEMD#NASDAQ">AEMD</a>) gained 9.3% to $0.52 in pre-market trading after declining 7% on Tuesday.</li>
<li>VNET Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) gained 7% to $2.14 in the pre-market trading session following strong quarterly results.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) gained 6.5% to $30.70 in pre-market trading as the company reported better-than-expected financial results for the second quarter and issued strong FY25 guidance.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>QT Imaging Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTI#NASDAQ">QTI</a>) declined 18.3% to $0.49 in pre-market trading after falling 6% on Tuesday.</li>
<li>Santech Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STEC#NASDAQ">STEC</a>) shares declined 17% to $0.5236 in pre-market trading after jumping 58% on Tuesday. Santech Holdings recently announced a $5 million share repurchase program.</li>
<li>nCino, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) shares fell 14.7% to $29.45 in pre-market trading after reporting second-quarter results.</li>
<li>Ensysce Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENSC#NASDAQ">ENSC</a>) fell 13.1% to $0.56 in pre-market trading. Ensysce Biosciences shares jumped 49% on Tuesday after the company received a $14 million multi-year grant from the NIH for the continued development of its PF614-MPAR, an abuse-deterrent opioid with overdose protection.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) shares fell 10.2% to $0.1669 in pre-market trading after gaining 20% on Tuesday.</li>
<li>T Stamp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) fell 10.1% to $0.3710 in pre-market trading.</li>
<li>ARB IOT Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBB#NASDAQ">ARBB</a>) fell 9.9% to $0.3633 in today's pre-market trading after gaining 6% on Tuesday.</li>
<li>Lixte Biotechnology Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIXT#NASDAQ">LIXT</a>) shares declined 9% to $1.71 in pre-market trading after dipping 9% on Tuesday.</li>
<li>PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) shares dipped 8.1% to $95.97 in pre-market trading after the company guided a third-quarter revenue decline and issued EPS estimates below estimates.</li>
<li>Magnite, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) shares fell 6.6% to $13.00 in pre-market trading.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40576188/microsoft-synaptics-and-2-other-stocks-executives-are-selling">Microsoft, Synaptics And 2 Other Stocks Executives Are Selling</a></li>
</ul>

AEMD

ARBB

BSLK

ENSC

IDAI

JBDI

LIXT

MGNI

PITA

STEC

SVRE

TANH

Why Nordstrom Shares Are Trading Higher By Around 8%; Here Are 20 Stocks Moving Premarket

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to report quarterly earnings at 64 cents per share on revenue of $28.68 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. NVIDIA shares fell 0.5% to $127.70 in after-hours trading.</li>
<li>Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) reported stronger-than-expected earnings for its second quarter on Tuesday. The company reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 71 cents per share. Nordstrom shares climbed 7.7% to $22.77 in the after-hours trading session.</li>
<li>Analysts are expecting HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) to post quarterly earnings at 86 cents per share on revenue of $13.38 billion. The company will release earnings after the markets close. HP shares slipped 0.03% to $35.59 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) reported better-than-expected financial results for the second quarter and issued strong FY25 guidance. The company said it sees fiscal year 2025 earnings of between $1.64 and $1.66 per share, versus the $1.57 estimate, and fiscal year revenue in a range of $1.086 billion to $1.09 billion, versus the $1.079 billion estimate. Box shares surged 6.9% to $30.81 in the after-hours trading session.</li>
<li>Analysts expect The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) to post quarterly earnings at $2.17 per share on revenue of $2.13 billion before the opening bell. Smucker shares gained 1.2% to $122.18 in the after-hours trading session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40576188/microsoft-synaptics-and-2-other-stocks-executives-are-selling">Microsoft, Synaptics And 2 Other Stocks Executives Are Selling</a></li>
</ul>

Nvidia, HP And Other 3 Stocks To Watch Heading Into Wednesday

Cloud storage is a promising sector due to the growing demand for data from digitalization, smart devices, and video streaming, which drive both business and consumer reliance on scalable storage solutions. Given this backdrop, let's examine the fundamentals of Dropbox (DBX) and Box (BOX) to understand why they are must-buys now. Read on... The global cloud storage market is rapidly growing, driven by increasing demand from businesses and consumers. The rise of smart home devices, connected gadgets, video streaming, and digital payments generates massive amounts of data daily. This surge fuels the need for cloud storage, expanding opportunities for innovation and investment in the tech sector.
Therefore, top cloud storage stocks like Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>) and Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>) are must-buys now.
The cloud storage market thrives as businesses seek cost-effective data management solutions, fueled by digitalization in industries like BFSI, healthcare, and telecom. This trend enhances performance, security, and scalability, driving demand for advanced storage solutions. As a result, the global cloud storage market is projected to reach $234.90 billion by 2028, with a <a href="https://www.marketsandmarkets.com/Market-Reports/cloud-storage-market-902.html">CAGR of 18.8%</a>.
Furthermore, cloud storage is increasingly popular among consumers for its convenience, allowing file storage, access, and sharing across devices. Services like content collaboration offer affordable, secure solutions for managing media and documents without local storage limits. The consumer cloud storage market is projected to reach <a href="https://www.researchnester.com/reports/consumer-cloud-storage-services-market/3863">$117.50 billion by 2036</a>, growing at a CAGR of 18.1%.
On top of it, investors' interest in tech stocks is evident from the Vanguard Information Technology Index Fund ETF Shares' (<a href="https://stocknews.com/stock/VGT/">VGT</a>) 32.7% returns over the past year.
Considering these conducive trends, let's assess the fundamentals of the two cloud storage picks, starting with the second choice.
Stock #2: Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>)
DBX provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features.
In terms of the trailing-12-month EBIT margin, DBX's 18.70% is 280% higher than the 4.92% industry average. Similarly, its 23.06% trailing-12-month net income margin is 525.7% higher than the industry average of 3.68%. Its 0.90x trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a> is 44.5% higher than the industry average of 0.62x.
In the fiscal second quarter that ended June 30, 2024, DBX's revenue stood at $634.50 million, up 1.9% year-over-year, and non-GAAP gross profit rose 4.1% year-over-year to $536.30 million. For the same quarter, its non-GAAP net income and net income per share increased 11.6% and 17.6% over the prior-year quarter to $194.10 million and $0.60, respectively.
Analysts expect DBX's revenue for the quarter ending September 30, 2024, to increase marginally year-over-year to $637. 19 million. Its EPS for the quarter ending December 31, 2024, is expected to rise 4.7% year-over-year to $0.52. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past three months, the stock has gained 17.7% to close the last trading session at $24.63.
DBX's positive outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #15 out of 75 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry. It has an A grade for Quality and a B for grade for Value. To access additional grades for DBX's Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/DBX/">click here</a>.
Stock #1: Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>)
BOX provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. It serves financial services, health care, government, and legal services industries internationally.
On September 17, 2024, BOX announced that Oxera Consulting LLP selected BOX as its centralized cloud platform for intelligent content management, improving collaboration and data security. Oxera will leverage BOX's tools to manage content across its international offices.
On August 8, 2024, BOX announced it had acquired Alphamoon's AI-powered document processing technology to strengthen its Intelligent Content Management platform. This acquisition helps BOX automate document tasks and extract metadata more efficiently, using advanced OCR and large language models.
In terms of the trailing-12-month Return on Total Capital, BOX's 8.62% is 214.3% higher than the 2.74% industry average. Likewise, its 13.17% trailing-12-month Return on Total Assets is 542.4% higher than the industry average of 2.05%. Also, its 31.43% trailing-12-month levered FCF margin is 204.3% higher than the industry average of 10.33%.
BOX's revenues for the second quarter ended July 31, 2024, increased 3.3% year-over-year to $270.04 million. Its non-GAAP gross profit increased 9.5% year-over-year to $220.24 million. The company's non-GAAP operating income increased 18.5% year-over-year to $76.69 million.
Additionally, its non-GAAP attributable net income increased 18.3% year-over-year to $64.74 million. Its non-GAAP attributable net income per share increased 22.2% year-over-year to $0.44.
Street expects BOX's EPS and revenue for the quarter ending October 31, 2024, to increase 17.4% and 5.2% year-over-year to $0.42 and $275.10 million, respectively. BOX surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past year, the stock has gained 33.7% to close the last trading session at $33.43.
BOX's POWR Ratings reflect robust prospects. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It is ranked #6 in the Technology – Services industry. It has an A grade for Growth and Quality and a B for Value. <a href="https://stocknews.com/stock/BOX/">Click here</a> to see BOX's Momentum, Stability, and Sentiment ratings.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>
&nbsp;

<hr />
DBX shares were trading at $24.62 per share on Wednesday afternoon, down $0.01 (-0.04%). Year-to-date, DBX has declined -16.49%, versus a 19.26% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/dbx-box-2-cloud-storage-stocks-that-are-must-buys-right-now/>2 Cloud Storage Stocks That Are Must-Buys Right Now</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

2 Cloud Storage Stocks That Are Must-Buys Right Now

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on SolarWinds (SWI – Research Report), The Descartes ...

Analysts' Opinions Are Mixed on These Technology Stocks: SolarWinds (SWI), The Descartes Systems Group (DSGX) and Box (BOX)

Owing to advancements in technologies, surging cross-border trade opportunities, and shifting consumer preference for convenience, the e-commerce sector is booming. Thus, fundamentally sound e-commerce stocks such as Amazon.com (AMZN), Alibaba Group Holding (BABA), and eBay (EBAY) could be attractive buys for now. Continue reading... The e-commerce market is continuously on an uptrend. The market is highly benefiting from changing consumer preferences, easier access to internet facilities, and widening online marketplaces. Also, new and innovative digital technologies are opening new avenues for the industry.
Given this backdrop, it could be wise to invest in fundamentally strong e-commerce stocks Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>), Alibaba Group Holding Limited (<a href="https://stocknews.com/stock/BABA/">BABA</a>), and eBay Inc. (<a href="https://stocknews.com/stock/EBAY/">EBAY</a>) for potential returns in the long run.
The e-commerce market stands to capitalize on the prevailing trends of online shopping, the increasing number of online marketplaces, and social commerce, and it is positioned for unstoppable growth and expansion. The rising internet penetration, demand for convenience, and evolving consumer preferences have also contributed to the boost.
The number of users in the <a href="https://www.statista.com/statistics/273957/number-of-digital-buyers-in-the-united-states/">United States e-commerce market</a> is expected to experience strong growth in the near years. Between 2024 and 2029, the total number is projected to grow to 60 million users, reflecting a robust growth of 21.94%. With each increasing year, the number of users is estimated to reach 333.5 million users, setting a new record in 2029.
This year alone, U.S. online retail sales are projected to reach $1.2 trillion, indicating an estimated increase of $108 billion or 9.8% compared to 2023. The market share of <a href="https://www.fticonsulting.com/insights/reports/2024-online-retail-report">the U.S. e-commerce market</a> is also likely to see a jump to 22.7% by year-end from the share of 21.6% as observed at the end of 2023.
According to IMARC Group, the global e-commerce market is anticipated to total around $183.80 trillion by 2032, exhibiting growth at a noteworthy <a href="https://www.imarcgroup.com/e-commerce-market">CAGR of 27.2%</a> during the forecast period (2024-2032). The market is currently driven by growing demands for AI-powered features, expanding cross-border trade opportunities, and innovations of secure digital payment systems.
Given these factors, let's delve deeper into the fundamentals of top e-commerce stocks: AMZN, BABA, and EBAY.
Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>)
AMZN engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores internationally. It operates through three segments: North America; International; and Amazon Web Services (AWS).
On October 24, AMZN's Amazon Web Services and Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>), the leading Intelligent Content Management platform, expanded their strategic partnership to empower organizations in building new applications and maximize productivity with generative AI. Box customers can now access foundation models directly in Box AI using Amazon Bedrock, starting with Anthropic's Claude and Amazon Titan.
The integration allows companies to quickly and securely build generative AI applications by combining some of the world's most advanced AI models with their data residing in Box's Intelligent Content Management platform. It helps organizations to quickly get answers, summarize information, generate content, and securely complete tasks.
On October 16, AMZN revealed an entirely new Kindle lineup, which consists of a reimagined Kindle scribe and the first-ever color Kindle. The reimagined Kindle Scribe comes with a paper-like display, offers new writing experiences in books, and a powerful notebook experience. It provides 25% faster page turns and up to three months of battery life.
For the second quarter that ended June 30, 2024, AMZN reported total net sales of $147.98 billion, up 10.1% from the previous year's quarter. Its <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> grew 91% from the year-ago value to $14.67 billion. Also, the company's net income and EPS stood at $13.48 billion and $1.26, reflecting growth of 99.8% and 93.8% year-over-year, respectively.
Street expects AMZN's revenue and EPS for the third quarter (ended September 2024) to increase 9.9% and 21.2% year-over-year to $157.27 billion and $1.14, respectively. Furthermore, the company surpassed the consensus EPS estimates in each of the trailing four quarters, which is impressive.
Shares of AMZN have surged 4.1% over the past six months and 42% over the past year to close the last trading session at $188.39.
AMAZN's robust growth prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Quality and Sentiment. Within the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry, AMZN is ranked #15 out of 53 stocks.
<a href="https://stocknews.com/stock/AMZN/">Click here</a> to access additional AMZN ratings for Growth, Value, Stability, and Momentum.
Alibaba Group Holding Limited (<a href="https://stocknews.com/stock/BABA/">BABA</a>)
Headquartered in Hangzhou, China, BABA provides technology infrastructure and marketing assistance to merchants, brands, retailers, and other businesses to engage with their customers worldwide. It operates through seven segments: China Commerce; International Commerce; Local Consumer Services; Cainiao; Cloud; Digital Media and Entertainment; Innovation Initiatives and Others.
On September 5, BABA partnered with Mastercard and Cardless to provide a co-branded credit card designed to reward businesses for cross-border and domestic sourcing purchases through Alibaba.com. The Alibaba.com Business Edge Credit Card was created to help small business owners and is its first co-branded U.S. credit card.
Through this partnership, BABA is expanding into an innovative financial solutions segment tailored for small business owners and will empower U.S. businesses by simplifying sourcing and offering valuable rewards.
On the same day, BABA announced its new artificial intelligence (AI)-powered sourcing agent, and new financial and logistics solutions. The solutions will help small and medium-sized enterprises (SMEs) to increase sourcing efficiency and efficiently navigate cross-border trade.
During the first quarter, which ended June 30, 2024, BABA's revenue increased by 3.9% year-over-year to $33.47 billion, and its income from operations came in at $4.95 billion for the quarter. The company's non-GAAP net income and EPS were $5.60 billion and $0.28 for the period, respectively.
In addition, the company's adjusted EBITDA and free cash flow totaled $7.04 billion and $2.39 billion for the quarter, respectively.
Analysts expect BABA's revenue and EPS for the third quarter (ending December 2024) to increase 8.9% and 3.5% year-over-year to $39.42 billion and $2.73, respectively. For the fiscal year (ending March 2025), the company's revenue and EPS are expected to grow 7.8% and 2.3% year-over-year to $140.24 billion and $8.80.
BABA's shares have gained 30.8% over the past six months and 20.2% over the past year to close the last trading session at $99.93.
BABA's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Quality. Within the A-rated <a href="https://stocknews.com/category/china/">China</a> industry, BABA is ranked #18 among the 42 stocks.
In addition to the POWR Ratings we've stated above, we also have BABA ratings for Stability, Growth, Sentiment, Momentum, and Value. Get all BABA ratings <a href="https://stocknews.com/stock/BABA/">here</a>.
eBay Inc. (<a href="https://stocknews.com/stock/EBAY/">EBAY</a>)
EBAY operates marketplace platforms that connect buyers and sellers worldwide. The company's marketplace platform consists of its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.
On July 10, EBAY and Liberis, a leading global embedded finance platform, partnered to launch Business Cash Advance, a new eBay Seller Capital revenue-based financing product. Business Cash Advance supports eBay sellers at every business stage by providing eligible U.S. eBay sellers with up to $1 million in working capital in less than 24 hours.
During the second quarter that ended June 30, 2024, EBAY's net revenues increased 1.3% year-over-year to $2.57 billion, while its gross profit rose marginally year-over-year to $1.84 billion. The company's income from operations of $549 million reflects a growth of 6% from the year-ago value.
In addition, the company's non-GAAP net income from continuing operations of $602 million and $1.18 per share, up 8.5% and 14.6% over the prior year's quarter, respectively.
As per the company's third-quarter 2024 guidance, EBAY expects revenue between $2.50 billion and $2.56 billion. And its non-GAAP EPS is expected to be $1.15 - $1.20.
Analysts expect EBAY's EPS for the third quarter (ended September 2024) to increase 14.6% year-over-year to $1.18, and its revenue is estimated to grow 1.8% year-over-year to $2.55 billion for the same period. Moreover, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
EBAY's stock has soared 19.4% over the past six months and 63% over the past year to close the last trading session at $62.99.
EBAY's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
EBAY has an A grade for Quality. It is ranked #19 among the 53 stocks in the B-rated Internet industry.
<a href="https://stocknews.com/stock/EBAY/">Click here</a> to access additional EBAY ratings for Sentiment, Value, Stability, Momentum, and Growth.
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AMZN shares rose $2.29 (+1.20%) in after-hours trading Tuesday. Year-to-date, AMZN has gained 25.60%, versus a 23.55% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/amzn-baba-ebay-box-3-stocks-to-buy-in-the-booming-e-commerce-sector/>3 Stocks to Buy in the Booming E-Commerce Sector</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Stocks to Buy in the Booming E-Commerce Sector

Cloud computing is revolutionizing the digital landscape thanks to its ease of access, cost benefits, and impressive performance. Hence, investing in fundamentally stable cloud computing stocks, Alphabet (GOOGL), Amazon.com (AMZN), and Salesforce (CRM), could be one's ticket to tech-savvy success. Read more… As digital transformation accelerates across various industries, cloud computing is at the forefront of the digital revolution. Its flexible resources and enhanced innovation are driving businesses to embrace this technology. Plus, with the rise of remote work, cloud computing continues to lead and shows no signs of slowing down.
Amid this backdrop, let us dive deep into the fundamentals of robust cloud computing stocks, Alphabet Inc. (<a href="https://stocknews.com/stock/GOOGL/">GOOGL</a>), Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>), and Salesforce, Inc. (<a href="https://stocknews.com/stock/CRM/">CRM</a>), that are leading the forefront of the digital revolution.
Over the past few years, remote work has become the preferred method of employment for millions. According to the Pew Research Center, around <a href="https://www.usatoday.com/money/blueprint/business/hr-payroll/remote-work-statistics/">22 million employed adults</a> in the United States work from home full-time, equal to roughly 14% of all employed adults.
Remote work trends and modernization in technology have boosted the rate of adoption of cloud computing in various sectors, with <a href="https://edgedelta.com/company/blog/how-many-companies-use-cloud-computing-in-2024#:~:text=Over%2090%25%20of%20companies%20worldwide%20already,use%20cloud%20services%E2%80%94including%20AWS%2C%20Google%2C%20and%20Microsoft.">more than 90% of organizations</a> now using cloud services to improve efficiency and innovation.
With reduced cost, improved scalability, several security measures, and high performance and speed, the influence of cloud computing in modern-day businesses is unmatched. According to Fortune Business Highlights, the cloud computing market is projected to reach $2.29 trillion by 2032, growing at an impressive <a href="https://www.fortunebusinessinsights.com/cloud-computing-market-102697">CAGR of 16.5%</a>.
Now let us look into the fundamentals of three cloud computing stocks that are leading the digital revolution, starting with #3.
Stock #3: Alphabet Inc. (<a href="https://stocknews.com/stock/GOOGL/">GOOGL</a>)
GOOGL encompasses a range of companies, with Google as its central entity, serving billions of users globally. Its widely used platforms are Search, Ads, Chrome, Cloud, YouTube, and Android. The company anchors its operations across three main segments: Google Services; Google Cloud; and Other Bets.
On May 2, GOOGL <a href="https://investors.mongodb.com/news-releases/news-release-details/mongodb-and-google-cloud-collaborate-optimize-gemini-code-assist">announced a collaboration</a> with MongoDB, Inc. (<a href="https://stocknews.com/stock/MDB/">MDB</a>), an industry-leading developer data platform, to optimize Gemini Code Assist and provide enhanced suggestions for application development and modernization on MDB.
The collaboration is expected to strength GOOGL's position in delivering cutting-edge, developer-focused solutions and supporting ongoing innovation in cloud technology.
For the fiscal 2024 third quarter that ended September 30, GOOGL's revenues increased 15.1% year-over-year to $88.27 billion. Its <a href="https://www.investopedia.com/terms/i/ifo.asp">income from operations</a> rose 33.6% from the year-ago value to $28.52 billion.
Plus, the company's net income came in at $26.30 billion, up 33.6% year-over-year. Its earnings per share grew 36.8% from the prior year's quarter to $2.12.
Analysts expect GOOGL's revenue for the fiscal fourth quarter (ending December 2024) to increase 10.9% year-over-year to $95.70 billion. Its EPS is expected to grow 24.4% from the prior year's period to $2.04. Moreover, the company topped the revenue and EPS estimates in all four trailing quarters, which is impressive.
Shares of GOOGL have surged 10.5% over the past nine months and 38.9% over the past year to close the last trading session at $169.68.
GOOGL's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its positive fundamentals. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
GOOGL has a B grade for Sentiment, Stability, and Quality. Within the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry, GOOGL is ranked #9 out of 53 stocks.
To check the stock's ratings for Growth, Momentum, and Value, <a href="https://stocknews.com/stock/GOOGL/">click here</a>.
Stock #2: Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>)
AMZN engages in retail, advertising, and subscription services through both online and physical channels. Its segments include North America; International; and Amazon Web Services (AWS). The company also provides electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero, along with original media content.
On October 29, AWS <a href="https://press.aboutamazon.com/aws/2024/10/aws-powers-celcomdigis-transformation-into-an-ai-driven-telco-tech-company">announced a collaboration</a> with CelcomDigi, Malaysia's largest mobile operator, with AWS as its key cloud provider to transform the company into an artificial intelligence (AI)-powered organization.
The collaboration could benefit AMZN by strengthening AWS's foothold in the Asian telecommunications market and showcasing its cloud and AI capabilities on a large scale.
On October 24, AWS <a href="https://press.aboutamazon.com/2024/10/box-and-aws-partner-to-bring-powerful-generative-ai-models-and-capabilities-to-enterprise-content">announced a strategic partnership</a> with Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>), a leading intelligent content management platform, to build new applications and maximize productivity with generative AI.
The collaboration would enhance AWS's growth potential, driving global adoption of GenAI solutions across industries and reinforcing its leadership in AI-driven innovation.
For the fiscal 2024 second quarter, which ended on June 30, AMZN's total net sales increased 10.1% year-over-year to $147.98 billion. Its operating income rose 91% from the year-ago value to $14.67 billion.
Additionally, the company's net income amounted to $13.48 billion, representing a year-over-year increase of 99.8%. Moreover, its EPS grew 93.8% from the previous year's quarter to $1.26.
Street expects AMZN's revenue and EPS for the fiscal third quarter that ended September 2024 to increase 9.9% and 21.5% year-over-year to $157.28 billion and $1.14, respectively. Moreover, the company topped the consensus EPS estimates in each of the trailing four quarters, which is impressive.
Shares of AMZN have surged 18.3% over the past nine months and 49.4% over the past year to close the last trading session at $190.83.
AMZN's solid prospects are projected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
AMZN has a B grade for Sentiment and Quality. It is ranked #15 out of 53 stocks within the same industry.
<a href="https://stocknews.com/stock/AMZN/">Click here</a> to see AMZN's ratings for Growth, Momentum, Value, and Stability.
Stock #1: Salesforce, Inc. (<a href="https://stocknews.com/stock/CRM/">CRM</a>)
CRM provides Customer Relationship Management solutions, connecting companies with customers by organizing sales data, tracking leads, forecasting opportunities, and applying AI-driven analytics. Its platform also supports automated quotes, contracts, invoices, and enables personalized customer support at scale.
On October 29, CRM <a href="https://investor.salesforce.com/press-releases/press-release-details/2024/Salesforces-Agentforce-Is-Here-Trusted-Autonomous-AI-Agents-to-Scale-Your-Workforce/default.aspx">announced the launch</a> and general availability of Agentforce, a service on the Salesforce platform that works through building and deploying AI agents for companies to take action for any business function.
With the launch of new services like Agentforce in the prime years of AI development, CRM is making its way into one of the top players in the AI boom and ensuring stable growth prospects for the company.
On September 17, CRM <a href="https://investor.salesforce.com/press-releases/press-release-details/2024/Salesforce-and-NVIDIA-Forge-Strategic-Collaboration-to-Advance-AI-Agent-Innovation/default.aspx">announced a strategic collaboration</a> with NVIDIA Corporation (<a href="https://stocknews.com/stock/NVDA/">NVDA</a>) to deliver optimized predictive and generative AI workflows by bringing together the NVIDIA AI platform with the Salesforce Platform and Agentforce.
The collaboration brings in new avenues for CRM to develop and supercharge its AI performance and provide more engaging, intelligent, and immersive experience to its customers.
CRM's total revenue for the fiscal 2025 second quarter, which ended July 31, 2024, increased 8.4% year-over-year to $9.33 billion. Its non-GAAP income from operations rose 15.5% from the year-ago value to $3.14 billion.
In addition, the company's non-GAAP net income and non-GAAP net income per share increased 19.1% and 20.8% from the prior year's period to $2.50 million and $2.56, respectively.
The consensus revenue and EPS estimates of $9.35 billion and $2.45 for the fiscal 2025 third quarter ending October 2024 reflect a rise of 7.2% and 15.9% year-over-year, respectively. Furthermore, the company surpassed the consensus EPS estimates in each of the trailing four quarters.
CRM's stock has surged 15.6% over the past three months and 52.1% over the past year to close the last trading session at $298.89.
CRM's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Sentiment and Quality. It is ranked #17 out of 130 stocks in the <a href="https://stocknews.com/category/software-application/">Software – Application</a> industry.
<a href="https://stocknews.com/stock/CRM/">Click here</a> to check out CRM's ratings for Growth, Value, Momentum, and Stability.
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GOOGL shares rose $11.27 (+6.64%) in premarket trading Wednesday. Year-to-date, GOOGL has gained 21.77%, versus a 23.55% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/googl-amzn-crm-nvda-mdb-box-3-cloud-computing-stocks-leading-the-digital-revolution/>3 Cloud Computing Stocks Leading the Digital Revolution</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Cloud Computing Stocks Leading the Digital Revolution

Owing to advancements in technologies, surging cross-border trade opportunities, and shifting consumer preference for convenience, the e-commerce sector is booming. Thus, fundamentally sound e-commerce stocks such as Amazon.com (AMZN), Alibaba Group Holding (BABA), and eBay (EBAY) could be attractive buys for now. Continue reading... The e-commerce market is continuously on an uptrend. The market is highly benefiting from changing consumer preferences, easier access to internet facilities, and widening online marketplaces. Also, new and innovative digital technologies are opening new avenues for the industry.
Given this backdrop, it could be wise to invest in fundamentally strong e-commerce stocks Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>), Alibaba Group Holding Limited (<a href="https://stocknews.com/stock/BABA/">BABA</a>), and eBay Inc. (<a href="https://stocknews.com/stock/EBAY/">EBAY</a>) for potential returns in the long run.
The e-commerce market stands to capitalize on the prevailing trends of online shopping, the increasing number of online marketplaces, and social commerce, and it is positioned for unstoppable growth and expansion. The rising internet penetration, demand for convenience, and evolving consumer preferences have also contributed to the boost.
The number of users in the <a href="https://www.statista.com/statistics/273957/number-of-digital-buyers-in-the-united-states/">United States e-commerce market</a> is expected to experience strong growth in the near years. Between 2024 and 2029, the total number is projected to grow to 60 million users, reflecting a robust growth of 21.9%. With each increasing year, the number of users is estimated to reach 333.5 million users, setting a new record in 2029.
This year alone, U.S. online retail sales are projected to reach $1.2 trillion, indicating an estimated increase of $108 billion or 9.8% compared to 2023. The market share of <a href="https://www.fticonsulting.com/insights/reports/2024-online-retail-report">the U.S. e-commerce market</a> is also likely to see a jump to 22.7% by year-end from the share of 21.6% as observed at the end of 2023.
According to IMARC Group, the global e-commerce market is anticipated to total around $183.80 trillion by 2032, exhibiting growth at a noteworthy <a href="https://www.imarcgroup.com/e-commerce-market">CAGR of 27.2%</a> during the forecast period (2024-2032). The market is currently driven by growing demands for AI-powered features, expanding cross-border trade opportunities, and innovations of secure digital payment systems.
Given these factors, let's delve deeper into the fundamentals of top e-commerce stocks: AMZN, BABA, and EBAY.
Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>)
AMZN engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores internationally. It operates through three segments: North America; International; and Amazon Web Services (AWS).
On October 24, AMZN's Amazon Web Services and Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>), the leading Intelligent Content Management platform, expanded their strategic partnership to empower organizations in building new applications and maximize productivity with generative AI. Box customers can now access foundation models directly in Box AI using Amazon Bedrock, starting with Anthropic's Claude and Amazon Titan.
The integration allows companies to quickly and securely build generative AI applications by combining some of the world's most advanced AI models with their data residing in Box's Intelligent Content Management platform. It helps organizations to quickly get answers, summarize information, generate content, and securely complete tasks.
On October 16, AMZN revealed an entirely new Kindle lineup, which consists of a reimagined Kindle scribe and the first-ever color Kindle. The reimagined Kindle Scribe comes with a paper-like display, offers new writing experiences in books, and a powerful notebook experience. It provides 25% faster page turns and up to three months of battery life.
For the second quarter that ended June 30, 2024, AMZN reported total net sales of $147.98 billion, up 10.1% from the previous year's quarter. Its <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> grew 91% from the year-ago value to $14.67 billion. Also, the company's net income and EPS stood at $13.48 billion and $1.26, reflecting growth of 99.8% and 93.8% year-over-year, respectively.
Street expects AMZN's revenue and EPS for the third quarter (ended September 2024) to increase 9.9% and 21.2% year-over-year to $157.27 billion and $1.14, respectively. Furthermore, the company surpassed the consensus EPS estimates in each of the trailing four quarters, which is impressive.
Shares of AMZN have surged 4.1% over the past six months and 42% over the past year to close the last trading session at $188.39.
AMAZN's robust growth prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Quality and Sentiment. Within the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry, AMZN is ranked #15 out of 53 stocks.
<a href="https://stocknews.com/stock/AMZN/">Click here</a> to access additional AMZN ratings for Growth, Value, Stability, and Momentum.
Alibaba Group Holding Limited (<a href="https://stocknews.com/stock/BABA/">BABA</a>)
Headquartered in Hangzhou, China, BABA provides technology infrastructure and marketing assistance to merchants, brands, retailers, and other businesses to engage with their customers worldwide. It operates through seven segments: China Commerce; International Commerce; Local Consumer Services; Cainiao; Cloud; Digital Media and Entertainment; Innovation Initiatives and Others.
On September 5, BABA partnered with Mastercard and Cardless to provide a co-branded credit card designed to reward businesses for cross-border and domestic sourcing purchases through Alibaba.com. The Alibaba.com Business Edge Credit Card was created to help small business owners and is its first co-branded U.S. credit card.
Through this partnership, BABA is expanding into an innovative financial solutions segment tailored for small business owners and will empower U.S. businesses by simplifying sourcing and offering valuable rewards.
On the same day, BABA announced its new artificial intelligence (AI)-powered sourcing agent, and new financial and logistics solutions. The solutions will help small and medium-sized enterprises (SMEs) to increase sourcing efficiency and efficiently navigate cross-border trade.
During the first quarter, which ended June 30, 2024, BABA's revenue increased by 3.9% year-over-year to $33.47 billion, and its income from operations came in at $4.95 billion for the quarter. The company's non-GAAP net income and EPS were $5.60 billion and $0.28 for the period, respectively.
In addition, the company's adjusted EBITDA and free cash flow totaled $7.04 billion and $2.39 billion for the quarter, respectively.
Analysts expect BABA's revenue and EPS for the third quarter (ending December 2024) to increase 8.9% and 3.5% year-over-year to $39.42 billion and $2.73, respectively. For the fiscal year (ending March 2025), the company's revenue and EPS are expected to grow 7.8% and 2.3% year-over-year to $140.24 billion and $8.80.
BABA's shares have gained 30.8% over the past six months and 20.2% over the past year to close the last trading session at $99.93.
BABA's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Quality. Within the A-rated <a href="https://stocknews.com/category/china/">China</a> industry, BABA is ranked #18 among the 42 stocks.
In addition to the POWR Ratings we've stated above, we also have BABA ratings for Stability, Growth, Sentiment, Momentum, and Value. Get all BABA ratings <a href="https://stocknews.com/stock/BABA/">here</a>.
eBay Inc. (<a href="https://stocknews.com/stock/EBAY/">EBAY</a>)
EBAY operates marketplace platforms that connect buyers and sellers worldwide. The company's marketplace platform consists of its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.
On July 10, EBAY and Liberis, a leading global embedded finance platform, partnered to launch Business Cash Advance, a new eBay Seller Capital revenue-based financing product. Business Cash Advance supports eBay sellers at every business stage by providing eligible U.S. eBay sellers with up to $1 million in working capital in less than 24 hours.
During the second quarter that ended June 30, 2024, EBAY's net revenues increased 1.3% year-over-year to $2.57 billion, while its gross profit rose marginally year-over-year to $1.84 billion. The company's income from operations of $549 million reflects a growth of 6% from the year-ago value.
In addition, the company's non-GAAP net income from continuing operations of $602 million and $1.18 per share, up 8.5% and 14.6% over the prior year's quarter, respectively.
As per the company's third-quarter 2024 guidance, EBAY expects revenue between $2.50 billion and $2.56 billion. And its non-GAAP EPS is expected to be $1.15 - $1.20.
Analysts expect EBAY's EPS for the third quarter (ended September 2024) to increase 14.6% year-over-year to $1.18, and its revenue is estimated to grow 1.8% year-over-year to $2.55 billion for the same period. Moreover, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
EBAY's stock has soared 19.4% over the past six months and 63% over the past year to close the last trading session at $62.99.
EBAY's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
EBAY has an A grade for Quality. It is ranked #19 among the 53 stocks in the B-rated Internet industry.
<a href="https://stocknews.com/stock/EBAY/">Click here</a> to access additional EBAY ratings for Sentiment, Value, Stability, Momentum, and Growth.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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AMZN shares rose $2.29 (+1.20%) in after-hours trading Tuesday. Year-to-date, AMZN has gained 25.60%, versus a 23.55% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/amzn-baba-ebay-box-3-stocks-to-buy-in-the-booming-e-commerce-sector/>3 Stocks to Buy in the Booming E-Commerce Sector</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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