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The Zacks Analyst Blog Highlights Amgen, TakeTwo Interactive, Chegg, Pfizer and BP

Published 02/08/2022, 01:10 AM
Updated 07/09/2023, 06:31 AM

For Immediate Release

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

Here are highlights from Monday’s Analyst Blog:

Mixed Earnings for Amgen, TakeTwo; Chegg Jumps on Beat

All four major market indexes have now posted two negative trading days in the last three, with the Dow barely eking out gains of +0.004% today and staving off a third day trading lower in a row. The S&P 500 was flat a half hour ahead of Monday's closing bell, but dipped -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’re seeing much the same picture we have for a while: Energy leads all industries again, on strong demand and higher prices; the laggards were again Communication Services and Tech. Meanwhile, Treasury yields continue to tick up over time: the 10-year is now +1.914% and the 2-year is +1.294%. The Nasdaq is now -14% off its record highs last November, while the S&P is -7% from its all-time highs reached early January.

After Monday’s close, more companies reported earnings results, includingAmgen, which posted a mixed Q4: earnings of $4.36 per share outpacing the $4.14 in the Zacks consensus, while revenues of $6.85 billion missed the expected $6.91 billion in the quarter. It’s the third-straight earnings beat for the biotech major, and as sales for osteoporosis drug Prolia grew +17% in the quarter, other treatments in the company’s portfolio underperformed expectations. Shares were up initially in late trading, but are now exactly flat.

TakeTwo Interactive shares tumbled -5% before regaining some buoyancy in its fiscal Q3, as theGrand Theft Auto andNBA 2K maker beat on earnings — $1.24 per share versus $1.13 expected — but missed on sales: $866 million versus $872 million in the Zacks consensus. Q4 bookings guidance disappointed, coming down to 808-858 million from 924 million expected by analysts. TakeTwo has posted only one earnings miss in the past five years.

Silicon Valley-based education technology firm Chegg is up a nice +15% after hours on its Q4 beat-and-raise Monday afternoon. Earnings of 38 cents per share on $207 million in sales outperformed the 31 cents per share and $195 million analysts were looking for. A 20% surge in services revenues helped Q1 revenues guidance to $200-205 million from $198 million in the Zacks consensus. Shares are back to roughly where they were prior to a big fall in share price back in early November.

Tuesday we look forward to earnings reports from big companies like Pfizer and BP, along with many others. On the economic report side, look for an NHIB Small Business survey for January and International Trade numbers from December, and Real Household Debt for Q4.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release.

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