Zacks analyst blog spotlights Amgen, TakeTwo Interactive, Chegg, Pfizer and BP

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Chicago, IL – February 8, 2022 – Zacks.com announces the list of stocks featured in the analyst blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Stocks recently featured in the blog include: Amgen AMGN, TakeTwo Interactive TTWO, Chegg CHGG, Pfizer PFE and BP BP.

Here are the highlights from Monday’s analyst blog:

Mixed earnings for Amgen, TakeTwo; Chegg jump on the beat

All four major equity indices have now posted two negative trading days in the past three, with the Dow barely posting +0.004% gains today and avoiding a third straight lower trading day. The S&P 500 was flat half an hour before Monday’s closing bell, but fell -0.37% by the end. Similarly, the Nasdaq fell further into the red in the last half hour of trading, -0.58% on the day. The small cap Russell 2000 gained +0.51% in regular trading.

By sector, we see much the same picture we have had for some time: energy is again leading all industries, thanks to strong demand and higher prices; the laggards again were communications services and technology. Meanwhile, Treasury yields continue to climb over time: the 10yr is now at +1.914% and the 2yr at +1.294%. The Nasdaq is now -14% from its record highs of last November, while the S&P is -7% from its all-time highs reached in early January.

After Monday’s close, more companies announced their results, includingAmgen, which posted a mixed fourth quarter: earnings of $4.36 per share exceeded the Zacks consensus of $4.14, while revenue of $6.85 billion missed the $6.91 billion expected at the course of the quarter. This is the third consecutive earnings beat for the biotech major, and while sales of the osteoporosis drug Prolia rose +17% in the quarter, other treatments in the company’s portfolio underperformed. expectations. The shares were initially up late in the session, but are now exactly flat.

TakeTwo Interactive shares fell -5% before regaining some momentum in its third fiscal quarter, asGrand Theft Auto andNBA 2K The maker beat on earnings – $1.24 per share vs. $1.13 expected – but missed on sales: $866 million vs. $872 million in the Zacks consensus. The forecast for fourth quarter bookings disappointed, falling to 808-858 million against 924 million expected by analysts. TakeTwo has only had one shortfall in the past five years.

Silicon Valley-based education technology company Chegg is up a nice +15% after hours on its Monday afternoon Q4 beat and relaunch. Earnings of 38 cents per share on $207 million in sales beat the 31 cents per share and $195 million analysts were looking for. A 20% increase in services revenue helped the first-quarter revenue forecast to $200-205 million, versus $198 million in the Zacks consensus. Stocks are back to roughly where they were before a sharp drop in the share price in early November.

On Tuesday, we look forward to earnings reports from big companies like Pfizer and BP, as well as many others. On the economic reports side, look for an NHIB survey of small businesses for January and international trade figures for December, and actual household debt for the fourth quarter.

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BP plc (BP): Free Stock Analysis Report

Pfizer Inc. (PFE): Free Inventory Analysis Report

Amgen Inc. (AMGN): Free Stock Analysis Report

TakeTwo Interactive Software, Inc. (TTWO): Free Stock Analysis Report

Chegg, Inc. (CHGG): Free Stock Analysis Report

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