Benzinga - by Chris Katje, Benzinga Staff Writer.
Each week, Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks just under the surface and warrant attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to uncover new information.
This index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors or casual readers should watch them.
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Here is a look at the Benzinga Stock Whisper Index for the week of May 10: Elevance Health (NYSE:ELV): The health insurance company saw strong interest from Benzinga readers over the past week. Elevance recently reported first-quarter financial results with revenue of $42.3 billion up 1% year-over-year. The company also raised its guidance for full-year earnings.
Elevance has 46.2 million members as of the end of the first quarter. Multiple analysts raised their price targets on the stock after the earnings report.
The company is one of the largest single providers of Blue Cross Blue Shield branded coverage.
With a share price of over $500, the company sees average trading volume of less than one million shares per day. Shares are trading near 52-week highs and seeing strong interest.
Constellation Energy Corp (NASDAQ:CEG): Constellation appeared on the Stock Whisper Index in April and now made its return. Despite its size with a market capitalization of over $60 billion, Constellation doesn't get a ton of attention.
The energy solutions company reported first-quarter earnings per share that beat consensus estimates and reported revenue that missed Street estimates. Shares hit new all-time highs after the quarterly report and are up over 170% in the last year.
In March, the company announced a $900 million, 30-year bond offering to help finance nuclear energy projects. A new report said the company is considering adding new nuclear power generation at existing sites. The move could help provide energy for data centers in the future.
SoundHound AI (NASDAQ:SOUN): The voice AI company has seen increasing interest from investors over the past year as an artificial intelligence sector stock.
Shares of the company are trading higher after the company reported first-quarter financial results. First quarter revenue of $11.6 million was up 73% year-over-year and beat Street consensus estimates. The company also beat analysts' estimates for quarterly earnings per share.
The company stated it had a cumulative subscription and booking backlog of $682 million. The company said it saw a strong demand for subscriptions.
Shares of SoundHound are up over 160% year-to-date in 2024.
Howmet Aerospace (NYSE:HWM): Investors might not be as familiar with the aerospace company that was previously a unit of Alcoa.
Shares of Howmet hit new 52-week highs after the company reported first-quarter financial results in early May. The company's revenue of $1.82 billion was up 14% year-over-year and beat a Street consensus estimate of $1.74 billion. Howmet's second-quarter revenue and earnings per share guidance are ahead of analysts' estimates. The company also raised its full-year guidance for revenue and earnings per share.
Analysts are raising their price targets on the aerospace company.
Lumen Technologies (NYSE:LUMN): The telecommunications company is seeing strong interest from investors, which came as shares fell over 40% in the past year. The company reported first-quarter financial results in April. Lumen highlighted its strengthened balance sheet and progress on debt extensions during the quarter.
"Lumen continued to make material progress in our turnaround with our strategy intently focused on empowering digital enterprises with next-generation connectivity solutions powered by our best-in-class nationwide fiber network," Lumen CEO Kate Johnson said.
Johnson acknowledged headwinds in the first quarter. The company recently announced new artificial intelligence tools for businesses and could be a stock to watch on a potential turnaround.
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
Read the latest Stock Whisper Index reports here:
March 29
April 12
May 3
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