Latest news with #XLU
Yahoo
3 days ago
- Business
- Yahoo
FirstEnergy Stock: Is FE Underperforming the Utilities Sector?
FirstEnergy Corp. (FE), headquartered in Akron, Ohio, generates, transmits, and distributes electricity as well as explores, produces, and distributes natural gas. Valued at $23 billion by market cap, the company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities, and provides energy management and other energy related services. Companies worth $10 billion or more are generally described as 'large-cap stocks,' and FE perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the utilities - regulated electric industry. FirstEnergy's diversified presence in regulated and competitive markets balances its revenue streams. Strategic investments in transmission infrastructure boost grid reliability and support renewable energy integration, serving over 6 million customers across multiple states with a seasoned leadership team. Grains, Unrest, & Gold: What Middle East Tensions Mean for Your Portfolio Now Solar Stocks Are Plunging on Trump's Tax Bill. Should You Buy the Dip? Hot US Temps and Middle East Tensions Boost Nat-Gas Prices Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Despite its notable strength, FE slipped 11.7% from its 52-week high of $44.97, achieved on Sep. 5, 2024. Over the past three months, FE stock has declined marginally, underperforming the Utilities Select Sector SPDR Fund's (XLU) 1.5% gains during the same time frame. In the longer term, shares of FE dipped marginally on a YTD basis but climbed 3.9% over the past 52 weeks, underperforming XLU's YTD gains of 6.2% and 16.2% returns over the last year. To confirm the bearish trend, FE has been trading below its 50-day and 200-day moving averages since early June. On Apr. 23, FE shares closed down marginally after reporting its Q1 results. Its adjusted EPS of $0.67 topped Wall Street expectations of $0.60. The company's revenue was $3.8 billion, beating Wall Street forecasts of $3.7 billion. FE expects full-year adjusted EPS in the range of $2.40 to $2.60. In the competitive arena of utilities - regulated electric, Duke Energy Corporation (DUK) has taken the lead over FE, showing resilience with a 6.5% gain on a YTD basis and 13.9% uptick over the past 52 weeks. Wall Street analysts are moderately bullish on FE's prospects. The stock has a consensus 'Moderate Buy' rating from the 16 analysts covering it, and the mean price target of $45.36 suggests a potential upside of 14.2% from current price levels. On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
02-06-2025
- Business
- Yahoo
Stock Market News for Jun 2, 2025
U.S. stocks ended mostly unchanged on Friday in a volatile trading session as investors shook off trade war fears, while President Donald Trump slammed China for violating its initial trade agreement before sounding optimistic about reaching a trade deal. The Dow ended in the green, but the S&P 500 and Nasdaq finished in negative territory. The Dow Jones Industrial Average (DJI) rose 0.1% or 54.34 points, to end at 42,270.07 points. The S&P 500 shed less than 0.1% or 0.48 points to close at 5,911.69 points. Consumer staples and utility stocks were the biggest gainers, while consumer discretionary and energy stocks were the worst performers. The Utilities Select Sector SPDR (XLU) gained 1%, while the Consumer Staples Select Sector SPDR (XLP) rose 0.9%. The Energy Select Sector SPDR (XLE) fell 0.9%, while the Consumer Discretionary Select Sector SPDR (XLY) declined 0.5%. Nine of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq lost 0.3%, or 62.11 points, to finish at 19,113.77 points. The fear-gauge CBOE Volatility Index (VIX) was down 3.18% to 18.57. Decliners outnumbered advancers on the NYSE by a 1.14-to-1 ratio. On Nasdaq, a 1.43-to-1 ratio favored declining issues. A total of 19.34 billion shares were traded on Friday, higher than the last 20-session average of 18 billion. Friday saw a volatile trading session, with all three major indexes opening lower after Trump slammed China for violating the preliminary trade agreement. However, stocks recovered in the afternoon after Trump said that he would have a discussion with the Chinese President and work out the trade disputes. The uncertainties surrounding the tariffs and their impact after trade negotiations are over have kept markets volatile. Investors are now looking forward to a long-term trade deal between the United States and China but are unclear when it will be reached. Shares of Tesla, Inc. (TSLA) declined 3.3%. Also, shares of Salesforce, Inc. (CRM) declined 0.6%. Salesforce has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. In economic data released on Friday, the Commerce Department reported that the personal consumption expenditure (PCE) index, the Federal Reserve's most favorite inflation gauge, climbed 0.1% sequentially in April and 2.1% on a year-over-year basis, after increasing 2.3% in March. Core PCE, which strips out the volatile food and energy components, rose 0.1% sequentially in April and 2.5% from year-ago levels, the smallest advance since March 2021. The Federal Reserve tracks PCE for its 2% inflation target. Meanwhile, consumer spending slowed in April, increasing 0.2% month over month after jumping 0.7% in the prior month. Year over year, consumer spending rose 2.1% in April. Personal income rose 0.8% month over month in April. All three major indexes rose for the week, with the S&P 500 and Dow ending 1.9% and 1.6% higher, respectively. The Nasdaq added 2% for the week. It was one of the best months for all three indexes in more than two years. The S&P 500 and the Nasdaq gained 6.2% and 9.6% for the month, to record their best months since March 2023. The Dow gained 3.9% for the month. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Salesforce Inc. (CRM) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
14-04-2025
- Business
- Globe and Mail
Stock Market Today in Review – Consumer Confidence Falls Below 2008 Levels
Today was a good day for stock investors as the major indices—the Nasdaq 100 (QQQ), the S&P 500 (SPY), and the Dow Jones Industrial Average (DIA) —finished in the green. Interestingly, the trading session was led by the real estate (XLRE) and utilities (XLU) sectors. In addition, across all three ETFs, trading volume was lower than the average. Separately, consumer confidence has taken a sharp hit and is now at levels that are even lower than during the 2008 financial crisis, according to the latest University of Michigan survey. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Sentiment has dropped significantly across multiple income groups, with confidence sitting at around 45% for households earning under $100,000 and just above 50% for those earning more. In addition, inflation expectations have surged, with the median 12-month forecast at 6.75%, while expectations for income growth have slowed to just 0.25%. As a result, nearly 70% of people are now worried about losing their jobs, which is an anxiety level that is typically seen during a recession. Separately, a CBS News/YouGov poll highlighted that most Americans believe President Trump's tariff policies will primarily benefit the wealthy and large corporations. Indeed, roughly three-quarters of respondents think that prices will rise due to the tariffs, and nearly half believe the policies are making them worse off. Only 42% think that the middle and working class will benefit. Unsurprisingly, the majority of Republicans support the measures and believe they will eventually add jobs, while most Democrats and independents remain skeptical. Adding to these concerns, former Treasury Secretary Janet Yellen said that the bond market's recent troubles are due to a 'loss of confidence' in U.S. economic policy, mostly because of Trump's unpredictable tariffs. She told CNBC that rising bond yields and a weaker dollar show that investors may be losing trust in U.S. assets. Yellen also warned that these trends are unusual and worrying. She believes the Federal Reserve can step in if needed but said that the uncertainty from tariffs makes it especially hard for the Fed to manage inflation and economic growth right now.
