Key Financial Highlights and Analysts’ Recommendations (COIN,FDX,FLNC,ALGN,CNC)

In a recent revelation by ADP, job creation in the U.S. witnessed a deceleration in August, falling short of expectations and hinting at a potential plateauing of the otherwise robust U.S. economy. This slowdown might be influenced by the recent surge in interest rates.

On Wednesday, ADP unveiled that private-sector employers managed to create 177,000 new positions in August. This figure stands in stark contrast to the revised 371,000 job additions in July. Notably, experts and economists polled by Dow Jones had set their sights on an addition of 200,000 jobs for the month.

Furthermore, ADP shed light on the wage scenario, indicating a downturn in salary growth. This was evident both for employees transitioning to new roles and those retaining their existing ones.

  1. Barclays on Coinbase $COIN: Barclays maintains caution on Coinbase, expressing uncertainty over the implications of the SEC’s recent decisions about the Grayscale Bitcoin ETF. They noted, “While there seems to be a positive shift towards approval of spot BTC ETFs, the actual impact on Coinbase’s financial performance remains to be seen.”
  2. Citi’s View on FedEx $FDX: Citi continues to champion FedEx, emphasizing its “strong pricing dominance in parcel delivery.” With potential benefits coming from competitors’ disruptions, Citi positions FedEx as one of its preferred choices in the Transport sector.
  3. Fluence $FLNC through Barclays’ Lens: The energy storage firm, according to Barclays, shows promising profit margin growth. “Fluence’s service sector is set for accelerated growth, potentially rivaling the margins of STEM’s storage software.”
  4. HSBC’s Standpoint on Align $ALGN: The bank gives a thumbs up to the dental technology firm, pointing out its dominant market position. “Align stands out due to its impressive growth pace and dominant presence in the rapidly expanding clear aligner market.”
  5. Morgan Stanley’s Take on Centene $CNC: The healthcare company has been downgraded by Morgan Stanley, citing concerns about earnings predictability. “The present valuation seems justified given limited prospects for any significant valuation increases in the foreseeable future.”
  6. TD Cowen and Ambarella $AMBA: Post the earnings reveal, TD marked down Ambarella, highlighting challenges. “The company faces difficulties in forecast accuracy due to the swift reduction in customer inventory.”
  7. Wells Fargo’s Insights:
  • Spotify $SPOT: The firm endorses its positive rating, anticipating favorable outcomes from upcoming financial reveals.
  • Netflix $NFLX: Wells remains optimistic, suggesting potential positive surprises in upcoming quarterly results.
  • Rockwell Automation $ROK: The automation company faces a downgrade due to concerns over decelerating sales growth.
  1. Apple $AAPL in Citi’s Perspective: Citi remains hopeful for Apple, especially with the upcoming iPhone event. They anticipate significant technological advances in the iPhone 15 series.
  2. Bernstein on Texas Instruments $TXN: There’s a downgrade in sight with Bernstein believing that the market’s earnings expectations are overly optimistic.
  3. Morgan Stanley on Atour $ATOY: The hotel company in China has been launched with a promising rating by Morgan Stanley, suggesting significant potential for growth.
  4. Melius on Nvidia $NVDA: Despite challenges, Melius still sees value in Nvidia shares and expects momentum as the year concludes.
  5. Bank of America on Alphabet $GOOGL: The tech giant’s stock target has been raised, with the firm becoming more optimistic following Alphabet’s recent Cloud event.
  6. Guggenheim’s Warning on Tesla $TSLA: Price adjustments could be on the horizon for Tesla, which might cast doubts on projected growth figures for FY24.
  7. Citi and Sunrun $RUN: Citi has shown renewed interest in Sunrun, noting that the solar stock has accounted for possible challenges.
  8. Evercore ISI on Gulfport Energy $GPOR: The natural gas enterprise stands out with its attractive financial returns, with operations spanning multiple regions.