Benzinga - Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.
Friday's market action saw the Dow Jones Industrial Average soaring 701.19 points (or 2.12%), spurred by a strong jobs report and the successful navigation of a potential U.S. default due to the debt-ceiling bill. Meanwhile, the S&P 500 and the Nasdaq Composite rose by 1.45% and 1.07% respectively, with the Nasdaq hitting its highest point since April 2022.
Nonfarm payrolls in May exceeded expectations, with an increase of 339,000 jobs, marking the 29th straight month of positive job growth. The strong weekly performance led to the S&P 500 and Nasdaq finishing approximately 1.8% and 2% higher, respectively, for the week. It was the sixth consecutive week of growth for the Nasdaq. The Dow also ended in positive territory, up around 2%.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls "Lululemon Stock Draws Praise From Analysts After Q1 Results: 'Ample Runway For Growth,'" by Chris Katje, looks at why analysts are upgrading their price targets for Lululemon Athletica Inc (NASDAQ: LULU) after the company's quarterly results beat Street consensus estimates for both revenue and earnings per share.
In "Massive AI Boom Sends Semiconductor ETF Skyrocketing: It's Not Just Nvidia," Piero Cingari writes that the recent artificial intelligence boom has led to a sector-wide surge, as reflected by the gains seen in the VanEck Semiconductors ETF (NASDAQ: SMH).
"Goldman Sachs On Theme Park Stocks: A Ride Worth Taking?" by AJ Fabino, reports on Goldman Sachs initiating coverage on Cedar Fair LP (NYSE: FUN), SeaWorld Entertainment Inc (NYSE: SEAS) and Six Flags Entertainment Corp (NYSE: SIX), with bullish calls on two of the stocks.
For additional bullish calls of the past week, check out the following:
Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Are Secretly Monitoring But Not Talking About Yet
Disney Defying DeSantis? Mouse House To Reportedly Double Down On Florida With $17B Investment
Cathie Wood's ARK Sees Tesla Cybertruck Being As Mainstream As Model Y: Low Expectations 'Based On Blind Spot' The Bears In "Amazon Agrees To Pay Over $30M To Settle Alexa, Ring Spying Claims Despite Disagreement With FTC," Ananya Gairola details how much Amazon.com Inc. (NASDAQ: AMZN) agreed to pay in settlements with the Federal Trade Commission over allegations of spying on customers through Ring doorbell cameras and violating children’s privacy rights with Alexa recordings.
"Palantir Stock Nearly Doubles In May — But Analyst Still Thinks It's 'Contentious' AI Play," by Shanthi Rexaline, explains why an analyst at RBC Capital Markets says Palantir Technologies, Inc (NYSE: PLTR) is "going to be hurt by the rise of generative AI."
"Twitter Value Continues To Drop: Here's Shareholder Fidelity's Latest Estimate Of The Company's Worth," by Chris Katje, reports that Fidelity recently reduced the valuation of its Twitter stake, which, when extrapolated, suggests that the company is now worth roughly a third of the price at which it was sold to Elon Musk and investors.
For more bearish takes, be sure to see these posts:
Bearish On The Stock Market Following SPY's Possible Double Top? This Fund Offers 3X Leverage
Nearly 80% Of Shiba Inu Holders Have Raked Up Losses Touching Six Figures — Over A Third Purchased Within This Range
Is Tesla 'Blackberry Of EV Industry?' Why Analyst Sees Its Valuation At Risk of Collapse
Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.