Shannon Saccocia Touts Energy Select Sector SPDR Fund as Final Trade
On CNBC’s “Halftime Report Final Trades,” Shannon Saccocia of Boston Private urged investors to consider the Energy Select Sector SPDR Fund (XLE) as her final trade.
Qualcomm’s Bold Move in Appointing CFO and COO
Qualcomm recently appointed Akash Palkhiwala to the expanded role of chief financial officer and chief operating officer. This strategic move coincided with Cantor Fitzgerald analyst C J Muse’s initiation of coverage on Qualcomm, assigning a Neutral rating and announcing a price target of $150.
Analysts Predicted Performance of Qualcomm
Qualcomm is expected to announce its first quarter fiscal 2024 financial results on Jan. 31, 2024, after the closing bell. Analysts anticipate the company to report quarterly earnings at $2.37 per share, with a similar figure recorded in the year-ago period. The company is also projected to report quarterly revenue of $9.51 billion for the recent quarter.
Joseph Terranova Bullish on Microsoft Breakout
Joseph Terranova of Virtus Investment Partners expressed optimism about Microsoft Corporation (MSFT), emphasizing the stock’s potential for a breakout.
Anticipation for Microsoft’s Earnings and Revised Ratings
Microsoft is slated to release its second-quarter earnings report after the closing bell on Jan. 30, 2024. Analysts are forecasting quarterly earnings at $2.78 per share, up from $2.32 per share in the year-ago period. Quarterly revenue for the recent quarter is anticipated to be $61.10 billion. In the midst of these developments, Truist Securities analyst Joel Fishbein reiterated a Buy rating on Microsoft and maintained a $600 price target on the stock.
Price Action and Closing Statistics
Price Action: The Energy Select Sector SPDR Fund gained 0.2%, while QUALCOMM shares rose 0.4% to close at $153.50 on Tuesday. Microsoft shares also registered a 0.6% gain, settling at $398.90 during the session.