Micron Surges After Earnings Forecast Backed By Strong AI Demand

September 26, 2024 | [Read Online]( Micron Surges After Earnings Forecast Backed By Strong AI Demand [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=Micron%20Surges%20After%20Earnings%20Forecast%20Backed%20By%20Strong%20AI%20Demand%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fmicron-surges-after-earnings-forecast-backed-by-strong-ai-demand) Good morning. It’s September 26th, and today we’ll look at how Micron Technology and Accenture are rallying after releasing positive quarterly results, Meta’s new VR headset, and three biotech stocks that are surging in premarket trade. Previous Close 📈 Stocks pulled back slightly on Wednesday after hitting fresh highs earlier in the day. The S&P 500 lost 0.2% and the Dow dropped 0.7%, but the Nasdaq Composite bucked the trend, inching up. Despite these losses, all three major averages are still on track to end September higher as investors weigh election uncertainty and economic data. Futures Futures are rising on Thursday as Wall Street looks to rebound. Dow futures are up 200 points, or 0.5%, S&P 500 futures have gained 0.8%, and Nasdaq 100 futures have climbed 1.3%. Investors are now awaiting the weekly Jobless Claims Report and final second-quarter GDP reading for further market direction. Oil & Gas [The $435 Billion Methane Crisis: A Profit Opportunity in Disguise]( Millions of abandoned oil wells are leaking dangerous methane, and billions are being spent to fix it. One under-the-radar company is already profiting from this massive cleanup—and early investors could be positioned for significant gains. [Don’t miss out—see how you can benefit from this massive opportunity.]( What to Watch Lots to watch out for on the economic data front. This morning at 8:30 a.m. Eastern, the Initial Jobless Claims for September, Durable Goods Orders and Durable Goods Excluding Transportation for August, and the second revision of the Q2 GDP will be released. Additionally, Federal Reserve Governor Adriana Kugler and Boston Fed President Susan Collins will speak at 9:10 a.m. Eastern, followed by opening remarks from Federal Reserve Chair Jerome Powell at 9:20 a.m. Eastern. Pending Home Sales for August will be published at 10:00 a.m. Eastern, and Minneapolis Fed President Neel Kashkari will speak alongside Fed Vice Chair for Supervision Michael Barr at 1:00 p.m. Eastern. On the earnings beat, Accenture (NYSE: ACN), TD Synnex (NASDAQ: SNXD), and REE Automotive (NASDAQ: REE) will announce their quarterly earnings before the market opens. Post market closure, Costco Wholesale (NASDAQ: COST) and Aytu BioPharma (NASDAQ: AYTU) will also report their results. Technology Accenture Shares Surge Amid Strong Q4 Earnings and Optimistic Fiscal 2025 Outlook Accenture's stock is rallying by 3.25% in premarket trade due to the company’s better-than-expected fourth-quarter results and positive outlook for fiscal 2025. The consulting giant reported adjusted earnings of $2.79 per share, slightly above analysts' expectations of $2.78. Revenue increased by 3% year-over-year to $16.4 billion, surpassing forecasts of $16.35 billion. New bookings for the quarter reached $20.1 billion, a 21% increase from the previous year, with $1 billion attributed to generative AI services. For fiscal 2024, Accenture posted record bookings of $81.2 billion, marking a 13% annual increase. Looking ahead, Accenture expects revenue growth of 3% to 6% in fiscal 2025 and forecasted earnings per share between $12.55 and $12.91, representing 5% to 8% growth. The company also raised its quarterly dividend by 15% to $1.48 per share and approved an additional $4 billion for share buybacks. The upbeat results and outlook have sparked investor optimism, leading to a sharp rise in Accenture's stock price. VR Meta Introduces Quest 3S and Orion AR Glasses, Expands AI Integration At its annual Connect event, Meta announced the release of its Quest 3S virtual reality headset, priced at $299, significantly lower than its predecessor. The new device, launching on October 15, will compete with Apple’s Vision Pro, offering capabilities for gaming, VR fitness, and multitasking. Meta CEO Mark Zuckerberg highlighted the Quest 3S as a versatile computing device with improved features like passthrough, which enables real-time interaction with the physical world while wearing the headset. In addition to the Quest 3S, Meta introduced the prototype of Orion AR glasses. These advanced glasses, though not yet available to consumers, are part of Meta’s long-term plan to bring augmented reality to the mainstream. Orion, which uses neural signals for control, marks Meta’s latest innovation in AR, succeeding its earlier Project Nazare prototype. Meta also announced new features for its Ray-Ban Meta smart glasses and improvements to its Meta AI chatbot, which will soon allow voice-based interactions. Semiconductor Micron's Strong Q1 Revenue Forecast Sends Stock Surging 15% Amid High AI Demand NVIDIA supplier Micron Technology’s stock is rallying by nearly 16% in premarket trading after a higher-than-expected revenue forecast was announced for the upcoming quarter. The company projects first-quarter revenue between $8.5 billion and $8.9 billion, surpassing the $8.3 billion estimated by analysts. Micron attributed the improved outlook to a favorable pricing environment and rising demand for its memory chips, which are crucial for powering artificial intelligence (AI) data centers. CEO Sanjay Mehrotra emphasized the exciting prospects for the memory and storage sector, driven by AI, and highlighted how the company is entering fiscal year 2025 with the "best competitive positioning" in its history. The company reported fiscal fourth-quarter revenue of $7.75 billion, 93% higher than last year, beating Wall Street expectations of $7.66 billion. Adjusted earnings per share are $1.18, exceeding the $1.11 forecast by analysts. Micron's strong performance comes amid heightened demand for AI-related hardware and partnerships with industry leaders like NVIDIA, whose GPUs rely on Micron's memory chips. EV [Unlocking Growth in Battery Metals]( The electric vehicle revolution is fueling a surge in demand for battery metals, and one company is ready to meet that need. Positioned with promising lithium projects, this stock presents a rare opportunity for early investors. As the market for lithium expands, the potential for significant returns grows. [Click here to learn more about this high-potential investment.]( (By clicking the link above, you will get this free report and a free subscription to the advertiser's daily email newsletter. You are also agreeing to the [privacy policy]( terms of the advertiser. Unsubscribe at any time.) Movers and Shakers Telesis Bio [TBIO] - Last Close: $2.32 Telesis Bio's stock is soaring 109% in premarket trading following the announcement of its strategic partnership with Beckman Coulter Life Sciences. This collaboration will integrate Telesis Bio’s Gibson SOLA Enzymatic DNA Synthesis technology with Beckman Coulter’s Biomek Echo One System, creating scalable biofoundries for rapid and high-fidelity DNA production. The integration of the two companies' technologies is expected to drive advancements in synthetic biology and lab automation, sparking optimism for the growth potential and impact of this collaboration in the biotech sector. My Take: This tiny stock is coming off a downward trend and has elevated volatility levels. It would be best to put this in your wait-and-watch bucket for now. Pasithea Therapeutics Corp. [KTTA] - Last Close: $3.85 Pasithea Therapeutics shares are rallying by nearly 43% in premarket trade. The firm announced positive initial safety, tolerability, pharmacokinetic (PK), and preliminary efficacy data from its Phase 1 clinical trial of PAS-004 for advanced cancer. The trial showed promising results, including no treatment-related adverse events or dose-limiting toxicities observed. Additionally, one patient with advanced colon cancer showed prolonged stable disease, offering early signs of potential efficacy. These developments are driving investor confidence and contributing to the stock's premarket surge. My Take: The stock has very low volume and is susceptible to extremely volatile movements in price. It would be advisable to keep a close eye on it before investing. Nucana PLC [NCNA] - Last Close: $3.05 NuCana is up 18% in premarket trading following the announcement that the U.S. Patent and Trademark Office has granted a new patent for its novel anti-cancer agent, NUC-7738. This patent strengthens the intellectual property portfolio surrounding NUC-7738, which already includes over 80 issued patents globally. The drug has shown promising results in a Phase 2 study for patients with PD-1 inhibitor-resistant melanoma, and positive data recently presented at the ESMO Congress has further highlighted its potential to improve outcomes for patients with metastatic melanoma. These developments are driving increased investor confidence, reflected in the stock's rise. My Take: The patent news could be a big moment for Nucana. Keep this stock on your radar for future growth. Environmental Solutions [A $435 Billion Cleanup That Could Pay You]( The oil and gas industry has left behind millions of abandoned wells leaking dangerous methane. With over $435 billion earmarked for the cleanup, one company is stepping up to cap these wells—and investors stand to gain. [Learn how you can profit from this urgent crisis.]( Everything Else - [NYC Mayor Eric Adams]( faces federal charges in a case related to 2021 campaign donations. - [Etihad]( plans to invest $7 billion in a fleet upgrade, focusing on Boeing jets. - [American Eagle]( accused Amazon of misleading consumers with Aerie trademark violations. - [SK Hynix](’s stock jumped 9% after it unveiled next-gen AI memory chip mass production. - [Chinese Politburo]( vowed fiscal action and rate cuts in an urgent bid to boost the country’s slowing economy. - [Samsung]( is under investigation for exposing workers to radiation and faces potential penalties. - [H&M]( shares tumbled 8% after a profit miss while pressure builds on its new CEO. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. 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