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Stocks making the biggest moves midday: Block, SolarEdge, Cleveland-Cliffs, Verizon & more

Stocks making the biggest moves midday: Block, SolarEdge, Cleveland-Cliffs, Verizon & more

CNBC6 days ago
Check out the companies making the biggest moves midday: Bruker — The lab instrument and tools maker shed 12% after the company issued weaker-than-expected guidance for the second quarter. The company expects to earn between 32 and 34 cents per share on revenue ranging from $795 million to $798 million. Analysts polled by FactSet expected a profit of 42 cents per share on revenue of $813.3 million. Block — The fintech stock surged 8% as it prepares to officially join the S & P 500 before the opening of trading on July 23. Block will replace Hess, which has been acquired by Chevron. Arrowhead Pharmaceuticals — The biotech company fell nearly 12%, adding to its steep decline from the previous session. Shares slid 11.1%, following those of Sarepta Therapeutics. Sarepta Therapeutics — The biotech stock tumbled 7% after the U.S. Food and Drug Administration announced following Friday's close that it was pulling its support for Elevidys, a gene therapy developed by Sarepta used to treat Duchenne muscular dystrophy, after another patient death. Shops such as Leerink Partners, Mizuho and Needham soon downgraded the stock. Alkermes — The biopharma company lost 9% after it announced Phase 2 trial results for its alixorexton drug, which aims to treat patients with narcolepsy type 1. EQT Corp. – Shares of the largest natural gas producer in the U.S. fell 8%, after CEO Toby Rice told The Financial Times that China will win the AI race unless Congress streamlines permitting for projects. Pinterest — Shares of the social media company jumped more than 2% after Morgan Stanley analyst Brian Nowak upgraded the stock to overweight from equal weight. Nowak highlighted Pinterest's attractive valuation along with "GPU enabled investments and budding engagement and monetization improvements" as the key reasons for his new rating. SolarEdge – The solar technology manufacturer's stock jumped 8% after analysts at Susquehanna increased their price target for the company to $26. But solar stocks face big headwinds as President Donald Trump's moves to end federal support for the sector. Dollar Tree — Shares added 2.2% upon an upgrade to overweight from equal weight at Barclays. Analyst Seth Sigman said he expects a "cleaner growth story" ahead. Cleveland-Cliffs — The steel manufacturer gained 13% after the company said it expected to spend less money than anticipated on capital expenditures and administrative expenses for the full year. That overshadowed a larger-than-expected loss for the second quarter. Verizon — The telecommunications stock rose 5% after posting second-quarter earnings of $1.22 per share on revenue of $34.5 billion. Analysts were expecting earnings of $1.18 billion on $33.74 billion in revenue, according to LSEG. Invesco — Shares added 1% after TD Cowen upgraded the investment management firm to a buy rating from hold. Analyst Bill Katz called Invesco's Friday announcement that it was requesting to migrate its QQQ exchange-traded fund to an open-end fund structure from a unit investment trust a "game changing event." — CNBC'S Spencer Kimball contributed reporting.
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Where Will Cameco Stock Be in 3 Years?
Where Will Cameco Stock Be in 3 Years?

Yahoo

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Where Will Cameco Stock Be in 3 Years?

Key Points Cameco's stock recently hit an all-time high. Uranium's soaring commodity price is driving that rally. But it still looks reasonably valued relative to its growth potential. 10 stocks we like better than Cameco › Cameco (NYSE: CCJ), one of the world's top uranium miners, usually isn't a high-growth stock. But over the past three years, its price surged about 250% and now hovers near its all-time high. The S&P 500 only rose 60% during the same period. Let's see why Cameco's stock crushed the market, and if it can keep climbing over the next three years. A look back at Cameco's lost decade Cameco, which is based in Canada, owns uranium mines and mills across Canada, the U.S., and Kazakhstan. It mined roughly 17% of the world's uranium in 2024, making it the second largest uranium miner after Kazatomprom (OTC: NATK.Y), Kazakhstan's national mining company. From 2011 to 2021, Cameco's annual revenue dropped from $2.41 billion to $1.18 billion (in U.S. dollars) without a single year of revenue growth. That decline started after the Fukushima nuclear disaster in March 2011, which triggered a global collapse in uranium prices as many countries cautiously reined in their nuclear energy plans. Uranium's spot price plunged from more than $70 per pound before the Fukushima disaster to less than $20 in 2017, and Cameco was forced to suspend work at its biggest mines and throttle back its production to conserve its cash. Before the uranium market could recover, the COVID pandemic disrupted the market again and forced the company to temporarily shut down more of its mines. The weak Canadian dollar exacerbated that decline because the miner sold its uranium in U.S. dollars. What happened over the past three years? But from 2021 to 2024, Cameco's revenue had a compound annual growth rate (CAGR) of 29% in Canadian dollar terms. Its gross margins also expanded to the double digits over the past two years. Metric 2022 2023 2024 Revenue growth 27% 39% 21% Gross margin 0.1% 21.7% 25% Data source: Cameco (all figures in Canadian dollar terms). That robust recovery was driven by uranium's spot prices, which soared from $29.63 in January 2021 to $78.50 this June. That rally prompted Cameco to restart its mining operations at McArthur River in Australia and Key Lake in the Canadian province of Saskatchewan in 2022 after being suspended in 2018. It also partnered with Brookfield Asset Management to acquire the nuclear power plant designer and builder Westinghouse Electric in late 2023. Its new 49% stake in Westinghouse should offset the volatility of its core mining business and make it the top uranium supplier for those plants. Several catalysts drove uranium's price higher over the past few years. The global supply shrank as Cameco and Kazatomprom curbed their production, but the demand rose as more countries initiated new nuclear energy plans and resumed their idled projects. Other global challenges are keeping uranium prices elevated. Russia, which was a major exporter of enriched uranium products and services to the U.S. and Europe, was hit by sanctions and export bans after its invasion of Ukraine in early 2022. Kazatomprom's supply chain issues and a coup in Niger (another key producer of uranium) in 2023 further reduced the global supply while driving more nuclear energy companies to buy their uranium from Cameco. What will happen to Cameco over the next three years? The bulls expect uranium's price to soar even higher as the market's demand continues to outstrip its available supply. The rapid growth of the cloud and AI data center markets -- which are driving more companies to consider using next-gen nuclear energy solutions like small modular reactors (SMRs) and microreactors -- could amplify those gains. Looking ahead, Cameco's 49% stake in Global Laser Enrichment (GLE) -- its uranium enrichment joint venture with Silex -- could transform it into a one-stop shop for nuclear power as it integrates those uranium enrichment capabilities into its core mining and conversion businesses. The International Atomic Energy Agency (IAEA) expects the world's nuclear capacity to expand by up to 2.5 times from 2024 to 2050, so Cameco could still have plenty of room to grow over the next few decades. From 2024 to 2027, analysts expect Cameco's revenue to have a CAGR of 8% (in Canadian dollar terms) as its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) have a CAGR of 16%. Its growth should cool off as it laps the big spike in uranium spot prices, the restarting of its mines, and its investment in Westinghouse Electric, but it still looks reasonably valued at 25 times this year's adjusted EBITDA. So even though Cameco's stock is trading near its all-time high, it could rise even higher over the next three years. Should you invest $1,000 in Cameco right now? Before you buy stock in Cameco, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cameco wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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This EV has a face, and it talks back with AI
This EV has a face, and it talks back with AI

Fox News

time29 minutes ago

  • Fox News

This EV has a face, and it talks back with AI

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