What's Going On With Alibaba Stock, What Investors Need To Know - DELL LULU AVGO BABA EOSE

last year

Dell Technologies Inc. (NYSE:DELL) reported better-than-expected second-quarter results and raised its outlook for the year. Dell shares climbed 8.3% to $60.92 in the after-hours trading session.

Lululemon Athletica Inc. (NASDAQ:LULU) reported upbeat earnings for its second quarter and boosted its annual forecast. Lululemon shares gained 1.5% to $387.00 in the after-hours trading session.

Broadcom Inc. (NASDAQ:AVGO) posted upbeat earnings for its third quarter, but issued weak forecast for the current quarter. Broadcom shares fell 4.6% to $880.08 in the after-hours trading session.

What's Going On With Alibaba Stock Friday? Alibaba Group Holding Limited (NYSE:BABA) stock is trading higher Friday in line with the broader indexes IShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) as China’s factory activity for August expanded.

Eos Energy Enterprises Inc (NASDAQ:EOSE) shares are surging 55% in premarket trade after it launched Project AMAZE, American Made Zinc Energy, a $500 million planned expansion to build 8 GWh of clean energy storage production capacity.

Transcript

00:00 Good morning, ladies and gentlemen, boys and girls, all you out there, wonderful members

00:13 of Zinger Nation. Today is Friday, September 1st, 2023. It's time again for Daily Stocks

00:21 to Watch, brought to you hot and fresh off of the Benzinga Pro News Desk. Always a good

00:27 day to be able to get you some trading ideas and get you out to your trading day. Like

00:33 I said, today's Friday, September 1st, 2023. It's the end of old month and beginning of

00:39 a new August is officially over. It is now September for all you like me out there who

00:45 enjoy the song September. Maybe you've been listening to it today. Maybe this is a little

00:49 reminder. Play it up a little bit, dance it up a little bit. It is now September, closing

00:55 the summer out. Monday, this upcoming Monday is going to be Labor Day for the US. That's

01:01 going to be a market holiday. We will not be having the show as markets will be closed.

01:08 But you can still you can still be looking at stocks on Monday if you really want to.

01:12 I'm sure we'll still be doing a little digging, but at least in terms of this show and the

01:17 US markets, things are going to be shut down. No school on Monday, but we'll be back again

01:22 on Tuesday with some more ideas, hot and fresh. But for today, we've already got some great

01:28 ones. We got a little bit of time before market open here. Want to get you these ideas, get

01:33 you out to a trading day. Stock to watch. Number one, we've got Dell Technologies. That's

01:38 to D.E.L.L. Dell. The perfect ticker right there. Number two, we've got Lululemon Athletica.

01:44 Sticker LULU. Another great ticker. Number three, we've got Broadcom. AVGO. Number four,

01:52 we've got Alibaba with ticker BABABA. And stock to watch. Number five is EOS Energy

01:58 Enterprises. The triple E name, but ticker is EOSE. Starting off with Dell reporting

02:06 better than expected second quarter results and raising outlook for the year. Dell shares

02:11 experience a wonderful bump there. If you're an investor in Dell this morning, up almost

02:16 12 and a half percent after the conference call yesterday after market close. Really

02:22 a solid performance from Dell. And I think this is a unique moment for these computer

02:28 makers, the chip companies, kind of the hardware zone of electronics is just having a special

02:34 moment these last couple of months. We saw Nvidia even beating out expectations, climbing

02:39 ever higher. Dell doing pretty good. If you're in this sector, check out what's going on

02:45 with IBM as well. HP, HP Enterprise. Some of these names that it feels like they haven't

02:53 really they haven't had the magic for a little while. Maybe it's been more in the technology

02:58 Internet style, less hardware, more software things. There seems to be a bit of a hardware

03:04 renaissance maybe going on out there right now. Dell reporting some some great stuff

03:10 pop in pre-market this morning. We'll have to see if there's profit taking after the

03:15 open and if things calm down a little bit or if it keeps going up. But otherwise, some

03:19 good news for Dell coming out of yesterday's earnings. Stock to watch number two, we've

03:24 got Lulu Lemon and sticker LULU, one of the most rapidly, it's just incredibly fast become

03:33 one of the most iconic athleisure, kind of inventing the athleisure category. I think

03:38 there's probably some other brands you could contest that with. But I think Lululemon is

03:44 probably the most loyal followers and customers reporting upbeat earnings as well for the

03:50 second quarter and boosted its annual forecast after hours yesterday and today pre-market

03:58 up almost 3%. Not as big of a jump as we just saw Dell had, but still a pretty darn good

04:04 increase up about to 392.50. Not a bad price right now for Lululemon to be experiencing.

04:13 If you're an investor in Lululemon, you're probably pretty happy, especially depending

04:17 on how long you've held shares. If you've been an investor in Lululemon for a good long

04:22 while since they became, since they were a smaller company way back in the day, you're

04:28 probably pretty darn happy with relatively consistent results. And I think the powerful

04:34 base of customer loyalty that Lululemon has had, they've always been sort of the high

04:40 up market luxury athleisure company, but especially in recent years have become one of the pillars

04:47 to look at for the category for, you know, they were pretty obscure not too long ago.

04:53 It's easy to forget that Lululemon was not common terribly long ago and now one of the

04:59 pillars of that sector. Stock to watch number three, we've got Broadcom ticker AVGO, a very

05:06 different ticker from Dell and Lululemon being exact to their names. But Broadcom, I think

05:12 we actually talked about the fact that their ticker is different a while ago. I think this

05:16 was a stock to watch maybe six or eight months ago, it was a part of a merger. And so the

05:22 AVGO is from a different company, but that's their ticker now. And they posted upbeat earnings

05:28 for the third quarter, but issued a weak forecast for the current quarter and shares fell almost

05:35 5% after hours yesterday on the news, even with a bit of a beat down. And now today,

05:42 pre-market down another two and a quarter percent. Not great for Broadcom. This is kind

05:48 of the other end of the spectrum. I think we just talked about Dell a little earlier,

05:52 talking about Nvidia, talking about some of these hardware names, some of these names

05:56 that have been pretty hyped up recently and have actually succeeded. Broadcom, I think,

06:02 is in the category of companies where even if they're beating expectations pretty slimly,

06:09 but if they're upbeat earnings, but forecast and the outlook coming down the pike has become

06:16 very, very important for a lot of these companies, including Broadcom. And I think seeing the

06:22 Wall Street reaction to their earnings yesterday is telling to how the markets are reacting

06:28 to things overall. We're expecting more optimism out of management, out of these companies,

06:34 out of these forecasts for the current quarter and for the upcoming quarters. I think there

06:38 is a undercurrent of intent in terms of Wall Street is looking for companies that are pretty

06:45 optimistic, which is interesting to contrast in companies like Broadcom compared to Dell,

06:51 Nvidia and some of these other big players that have recently released their earnings

06:55 as well. Definitely a trend to be looking at if you're listening into these earnings

06:59 calls and noticing even with some pretty decent statistical, like the numbers are pretty good,

07:05 EPS isn't terrible, nothing crazy is going on. But even if that's happening, if management

07:10 is not necessarily excited or has high hopes for what's coming up, at least anecdotally,

07:16 it seems like not a great moment for stocks like that. Stock to watch number four, we've

07:21 got Alibaba Group Holding Limited. That's the full name. But ticker is BABA. Good ticker,

07:27 I think. And the stock is trading higher in line with some of the broader Chinese indexes,

07:33 including the iShares China Large Cap ETF. That's ticker FXI. So we got a bonus tickers

07:39 in here for you. And the Crane Shares Trust, Crane Shares CSI China Internet ETF, ticker

07:46 is KWEB, K-Web. As China's factory activity for August expanded, this was part of a report

07:54 that activity was kind of getting back up to speed. Alibaba up just a little over 1.4%

08:02 this morning. Nothing absolutely crazy. With a company the size of Alibaba and some of

08:07 these ETFs moving could be some good news, a bit of a reprise for some of the optimism

08:13 that has been very, very lacking, at least in the last couple of months. From my standpoint,

08:19 for China, there have been some pretty significant difficulties in terms of trade agreements.

08:25 It seems like the regulatory environment is heating up a bit, especially with the news.

08:32 I believe this just came out a day or two ago that the White House, the US administration

08:38 was going to be restricting NVIDIA's importing their most advanced AI chips over to some

08:45 of the countries in the Middle East. I believe at least the United Arab Emirates was specifically

08:49 named. Some interesting kind of chess game going on here where the US does not want the

08:55 top end of NVIDIA's AI chips getting to China, seeing the Middle East as an intermediary.

09:02 So some regulatory environment heating up a bit, but maybe just maybe China is still

09:07 doing all right. Factory output increasing could be good news for Alibaba and other Chinese

09:13 stocks. And finally, we got stock to watch. Number five is EOS Energy Enterprises. That's

09:19 the sticker EOSE with shares surging pre-market after it launched Project Amaze, an American-made

09:27 zinc energy, $500 million planned expansion to build eight gigawatt hours of clean energy

09:36 storage production capacity. This is a little bit of a complex story, but essentially a

09:41 big movement coming out of EOS Energy, essentially to address long duration energy storage demands.

09:48 We've heard talk of a number of companies building battery banks and building all these

09:53 different systems. This is an interesting one from a sort of a standpoint of creating

09:59 clean energy storage, eight gigawatt per hour storage capacity by 2026. So we've got a little

10:07 time. It's not happening tomorrow, but a little context as well. The Department of Energy,

10:12 the US Department of Energy's loan programs office issued up to $398.6 million, a $400

10:18 million conditional commitment for a loan guarantee as well for the company to fund

10:23 up to 80% of that in the very beginning. So that's a big chunk that would be semi-subsidized,

10:31 not entirely, but the loan is probably better than most interest rates they could get. So

10:36 that's a good sign for EOSE able to lock down something like that. Stock is actually down

10:41 a little bit from its big upward movement. It was up over 50% of the market, now up just

10:47 over 43%, but still an absolutely massive move for EOSE Energy this morning, maybe a

10:53 little profit taking right around that 43.7% up, but a huge original movement over 55%.

11:01 Definitely one to watch today. We'll want to see if more investors pile into EOSE, more

11:06 takes and profit and how it moves the next couple of days as well going into next week.

11:11 All right, we're going to go back over our list, get you out to your trading day. Stock

11:15 to watch number one was Dell Technologies with ticker D-E-L-L. Number two, we had Lululemon

11:21 with ticker L-U-L-U. Number three was Broadcom ticker A-V-G-O. Number four, we got Alibaba

11:28 ticker B-A-B-A. Number five was EOSEnergy with ticker E-O-S-E. Happy Friday, everyone.

11:36 I hope everyone has a wonderful weekend, a wonderful long weekend. If you're celebrating

11:40 Labor Day Monday, no stocks to watch. School is closed on Monday, but we'll be back Tuesday

11:48 better than ever and with more fresh ideas delivered to you. I hope everyone has a great

11:53 rest of your Friday and we'll catch you Tuesday.

11:55 [END]

11:58 [BLANK_AUDIO]

What's Going On With Alibaba Stock, What Investors Need To Know - DELL LULU AVGO BABA EOSE

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