BMO Capital and JPMorgan Chase have selected Alphabet and Uber Technologies as top picks for 2024, citing Alphabet's leadership in AI and Google's dominance in ad tech and cloud computing, as well as Uber's strong market presence in ridesharing and food delivery. Both companies reported strong financial results and are expected to grow sales at 10% and 14% annually over the next five years, respectively. Investors are advised to consider buying small positions in these growth stocks for long-term potential.
Palantir Technologies' stock has surged, but it may be too expensive relative to its growth rates. Instead, investors are encouraged to consider three other growth stocks with millionaire-making potential: Uber Technologies, Duolingo, and Workday. Uber's future looks bright with market share gains and a reasonable stock valuation, while Duolingo's disruption of the online education market and expansion of its platform make it an attractive investment. Workday's cloud-based services and recent introduction of the Workday AI Marketplace position it as an underrated play on the AI market.
Amazon is set to join the Dow Jones Industrial Average, replacing Walgreens Boots Alliance, as a result of Walmart's upcoming stock split. This change reflects the evolving nature of the American economy and will increase consumer retail exposure in the index. Additionally, Uber Technologies will be added to the Dow Jones Transportation Average, providing exposure to the ride-sharing industry.
Amazon is set to join the Dow Jones Industrial Average, replacing Walgreens Boots Alliance, in a move reflecting the evolving nature of the American economy, according to S&P Dow Jones Indices. This change, prompted by Walmart's stock split, aims to increase consumer retail exposure in the index. Additionally, Uber Technologies will replace JetBlue Airways in the Dow Jones Transportation Average to gain exposure to the ride-sharing industry. Both index changes are scheduled to take effect on Feb. 26.
U.S. stocks are lower in premarket trading after five weeks of gains, while bond yields and oil prices pull back. Alaska Air Group agrees to buy Hawaiian Holdings in a $1.9 billion deal, but faces potential antitrust scrutiny. Wells Fargo upgrades CyberArk and Mizuho upgrades General Motors, while Barclays raises its price target on Adobe. Piper Sandler names Nvidia its top large-cap pick, and Oppenheimer raises its price target on Broadcom. UBS lowers its price target on Ford, and Wells Fargo downgrades Lululemon Athletica.
Zacks Investment Ideas feature highlights Adobe, Uber Technologies, and GIII Apparel as three stocks that are likely to benefit from less inflationary pressure. With inflation weakening, traders are betting that the Federal Reserve may not hike interest rates this week, which has buoyed investor sentiments. Adobe, Uber Technologies, and GIII Apparel are all expected to see top-line growth and have a Zacks Rank #1 or 2 and a VGM Score of A or B.
