Latest News for Coats Gr Stock (OTC:CGGGF)

Coats Gr

Coats Group PLC is a firm manufacturing thread for industrial and consumer use. Its product portfolio includes industrial thread and knitting yarns used in the apparel and footwear industries, zips, trims, composites, and fabrics. The company's customers are grouped into three segments; Apparel which is also the key revenue generating customer segment, Footwear and Performance Materials. Geographically, the company generates a majority of its revenue from China and Hong Kong and the rest from Vietnam, India, United Kingdom and other regions.

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Stocks That Hit 52-Week Lows On Monday

Coats Group PLC

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCBC#NASDAQ">FCBC</a>) reported quarterly earnings of $0.71 per share which beat the analyst consensus estimate of $0.60 by 18.33 percent.

Earnings

Earnings Beats

FCBC

First Community Q1 2024 Adj EPS $0.71 Beats $0.60 Estimate

<h3>Markets Today: Focus Back On Earnings</h3>
Wall Street is once again focusing on the main fundamentals as traders are less concerned about the Middle East. Now that those concerns are very much over, the focus among traders and investors is what the tech earnings will do to the US stock indices, especially the Nasdaq, which recorded its steepest weekly loss of over 5.5% in more than 5 months. The stocks that pushed the stock market to its all-time high, such as Nvidia and Tesla, have tanked over 14% as investors saw the Middle East tensions as an opportunity to book some profit off the table.&nbsp;
<h3>Background&nbsp;</h3>
The US stock indexes, without any shadow of a doubt, not only had a great start to the year, but they also recorded stellar performance for the quarter. But when Israil attacked the Iranian embassy, things began to go off the rails as investors became increasingly cautious that things could go too far, which they did to a certain extent when Iran launched its retaliatory direct attack on Israil. However, cool heads did prevail, and tensions did not escalate after the Israil&#39;s attack on the Iranian city of Isfahan. From there onwards, investors and traders once again shifted their focus away from the escalating geopolitics, and all the spotlight came on the US earnings&mdash;and there is perhaps nothing bigger than the US earnings, which is making traders concerned now with respect to the performance of Magnificent Seven.&nbsp;
<h3>The Tech Earnings&nbsp;</h3>
Starting today, traders will focus once again on the AI gold rush, with Tesla announcing its earnings and the Nasdaq index dancing on the back of it. Traders have already heavily punished the stock, causing it to sit at its multi-month lows. This is because the company has not only announced layoffs, indicating a slowdown in its demand equation, but has also reduced prices for some of its products, confirming the fierce competition. To remain competitive, the company must take action.
The important thing to note here is that traders and investors need to zoom out a little, and they need to understand that layoffs are good in terms of operations as they make the company&#39;s overhead less when demand isn&#39;t strong enough to support that extra labor. And cutting costs is the way to answer the growing competition because Tesla&#39;s monopoly that it had once upon a time is no longer there as new players have made the competition much more intense.&nbsp;
Nonetheless, something that Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) still holds in a very unique position is its data on self-driving, which no other car maker has in that quantity as Tesla had a much longer head start. So, the question and focus will be on these innovative areas in today&#39;s earnings. Investors are likely to become more cautious due to the company&#39;s first year-over-year revenue decline since 2020, as the shares have fallen over 43% YTD. If earnings fail to respond today, we could see the price dropping further, which would drag the Nasdaq index further lower.&nbsp;
<h3>How Much Lower?&nbsp;</h3>
The Nasdaq index, which is already sitting near the lows of the year after recording its worst weekly loss since November last week, is more than likely to face a highly volatile session this week. The levels shown on the chart below are likely to govern traders&#39; sentiment. Despite the price drop, the chart below shows that the price is still in an upward trend, and the big buyers could be stepping in near support level 1, if not level 2. As long as the index is trading above its upward trend line, the upside momentum is likely to resume.&nbsp;
<img alt="tesla_-_23-04.png" src="https://www.benzinga.com/files/images/2024/April/23/tesla_-_23-04.png" style="height:256px; width:624px" />
<a href="https://www.exness.com/">Nasdaq Chart from Exness</a>
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Tech

TSLA

Markets Today: Focus Back On Earnings, Will Tesla Help To Boost Sentiment Among Traders?

EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) reported quarterly earnings of $1.98 per share which missed the analyst consensus estimate of $2.01 by 1.49 percent. This is a 7.61 percent increase over earnings of $1.84 per share from the same period last year. The company reported quarterly sales of $154.224 million which beat the analyst consensus estimate of $152.108 million by 1.39 percent. This is a 14.22 percent increase over sales of $135.025 million the same period last year.

Earnings Misses

EastGroup Props Q1 2024 FFO $1.98 Misses $2.01 Estimate, Sales $154.224M Beat $152.108M Estimate

CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) reported quarterly Adj earnings of $0.10 per share which beat the analyst consensus estimate of $0.07 by 42.86 percent. The company reported quarterly sales of $656.400 million which beat the analyst consensus estimate of $653.328 million by 0.47 percent. This is a 12.33 percent increase over sales of $584.366 million the same period last year.

CSGP

CoStar Gr Q1 2024 Adj EPS $0.10 Beats $0.07 Estimate, Sales $656.400M Beat $653.328M Estimate

Contracts

Spirit Aerosystems Says Boing Wil Pay Advance Payment Of $425M, Co To Support Boeing's Contractual Demands

TRIS

Tristar Acquisition I Corp. Receives NYSE Notice For Late Form 10-K Filing

Tesla: 'Production at Gigafactory Shanghai was down sequentially due to seasonality and planned shutdowns around Chinese New Year in Q1.'

Guidance

ENPH

Enphase Energy Sees Q2 2024 Revenue $290M-$330M Vs $350.706M Est.

Tesla Says 'We recently undertook a cost-cutting exercise to increase operational efficiency. We also remain committed to company-wide cost reduction, including reducing COGS per vehicle.'

MEDS

TRxADE Health Reveals Receipt Of Notice From Nasdaq Regarding Late Filing Of Annual Report On Form 10-K

Mattel Sees FY24 Adj. EPS $1.35-$1.45 Vs $1.39 Est.

WIIM

Tesla shares are trading higher following Q1 earnings.

Tesla Q1 Total GAAP Gross Margin 17.4%

Benchmark&nbsp;analyst Cody Acree initiated coverage on&nbsp;Qualcomm Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy rating and a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/QCOM/analyst-ratings" rel="noreferrer noopener">price target of&nbsp;$200</a>.
Qualcomm&nbsp;is particularly well positioned&nbsp;to capitalize on the&nbsp;industry's&nbsp;trends of shifting AI computational inferencing workloads to the very edges of the network, where the company is leveraging its strengths in wireless connectivity and computing to lead the market in the ramp of generative AI smartphones and AI-PCs, with both likely sparking long-term replacement cycles in their respective markets, Acree said.&nbsp;
He noted that these replacement cycles should counter investor concerns of core market stagnation.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38156042/microsoft-set-to-unveil-qualcomm-powered-ai-pcs-aiming-to-surpass-apples-macbook-air" rel="noreferrer noopener">Microsoft Set to Unveil Qualcomm-Powered AI PCs, Aiming to Surpass&nbsp;Apple's&nbsp;MacBook Air</a>
The company also leverages its wireless and compute strengths to capitalize on the opportunity to grow into new markets such as Autos and IoT.
Acree heard encouraging feedback from multiple industry checks, suggesting at least 15-20% annual increases in the volumes of Samsung S24 smartphone variants as compared to last&nbsp;year's&nbsp;S23 volumes.
He sees solid anecdotal indications regarding consumer demand for the QCOM-powered S24 Ultra model across the U.S. and Europe.&nbsp;
These positive Samsung indications should be echoed in&nbsp;QCOM's&nbsp;earnings report and help offset a weaker seasonal add from&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).&nbsp;
The analyst flagged Counterpoint Research, expecting Qualcomm to capture over 80% of the GenAI smartphone market for the next two years as GenAI drives smartphone refresh rates.&nbsp;
He also highlighted&nbsp;Qualcomm's growth&nbsp;from higher adoption of AI PCs and stronger automotive activity.
Acree projected second-quarter revenue and EPS of $9.41 billion and $2.35.
Qualcomm stock gained 38% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and&nbsp;IShares Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>).
Price Action: QCOM shares closed higher by 0.73% at $161.35 on Tuesday.
Photo by Monoar Rahman Rony from Pixabay

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AAPL

FTXL

QCOM

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Qualcomm Poised for Growth in AI Smartphones and Automotive Sectors Amid Expanding Market Presence: Analyst

Tesla Says Profitability Impacted By Reduced ASP Due To Pricing And Mix, Increase In Opex, Decline In Deliveries; Helped By Lower Cost Per Vehicle, Higher FSD Revenue Recognition, IRA Credit Benefit

Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) reported quarterly earnings of $0.35 per share which missed the analyst consensus estimate of $0.40 by 12.5 percent. The company reported quarterly sales of $263.30 million which missed the analyst consensus estimate of $281.95 million by 6.62 percent. This is a 63.73 percent decrease over sales of $726.02 million the same period last year.

Enphase Energy Q1 2024 Adj EPS $0.35 Misses $0.40 Estimate, Sales $263.30M Miss $281.95M Estimate

Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) reported quarterly Adj earnings of $2.51 per share which beat the analyst consensus estimate of $2.44 by 2.87 percent. The company reported quarterly sales of $8.775 billion which beat the analyst consensus estimate of $8.627 billion by 1.72 percent. This is a 9.89 percent increase over sales of $7.985 billion the same period last year.

Visa Q2 2024 Adj EPS $2.51 Beats $2.44 Estimate, Sales $8.775B Beat $8.627B Estimate

Seagate Tech Holdings Sees Q4 2024 Adj. EPS $0.70 ± $0.20 Vs $0.57 Est.; Revenue $1.85B ± $150M Vs $1.836B Est.

Tesla Q1 Total Production 433,371, Down 2% YoY; Total Deliveries 386,810, Down 9%

Mattel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.12) by 58.33 percent. The company reported quarterly sales of $810.00 million which missed the analyst consensus estimate of $831.80 million by 2.62 percent. This is a 0.56 percent decrease over sales of $814.60 million the same period last year.

Mattel Q1 2024 Adj EPS $(0.05) Beats $(0.12) Estimate, Sales $810.00M Miss $831.80M Estimate

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Latest News for Coats Gr Stock (OTC:CGGGF)

Monday, August 19, 2019