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Bloomberg
13 hours ago
- Business
- Bloomberg
Dollar Depreciation Has Years to Run: 3-Minute MLIV
Anna Edwards, Guy Johnson, Kriti Gupta and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Yahoo
14 hours ago
- Business
- Yahoo
What to Expect From Enphase's Q2 2025 Earnings Report
Fremont, California-based Enphase Energy, Inc. (ENPH) designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. With a market cap of $5.2 billion, the company is expected to announce its fiscal Q2 earnings results on Tuesday, July 22. Ahead of this event, analysts expect the energy company to report a profit of $0.29 per share, up 123.1% from $0.13 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in one of the past four quarters, while missing on three other occasions. Is Palantir Stock a Buy, Sell, or Hold for July 2025? Is Archer Aviation Stock a Buy, Sell, or Hold for July 2025? Oklo Just Announced a New Nuclear Fuel Deal. Is OKLO Stock a Buy Here? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. For fiscal 2025, analysts expect ENPH to report an EPS of $1.15, up 13.9% year over year from $1.01 in fiscal 2024. Moreover, in FY2026, the company's EPS is expected to increase 62.6% annually to $1.87. ENPH stock has declined 57.9% over the past 52 weeks, underperforming the Technology Select Sector SPDR Fund's (XLK) 10.1% surge and the S&P 500 Index's ($SPX) 13.2% uptick during the same time frame. On Apr. 22, ENPH shares grew 3.5% following the release of its Q1 results. The energy company's revenue came in at $356.1 million, missing Wall Street forecasts of $362.1 million. Moreover, its adjusted EPS of $0.29 also fell short of the consensus estimate by 21.6%. Looking ahead, the company expects revenue in the range of $340 million to $380 million for Q2. Wall Street analysts are skeptical about ENPH's stock, with a "Hold" rating overall. Among 31 analysts covering the stock, 12 recommend "Strong Buy," eight suggest 'Hold,' two suggest 'Moderate Sell,' and nine advise 'Strong Sell.' ENPH's average analyst price target of $54.52 indicates a potential upside of 33.3% from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Top stock picks in the snack aisle: Impact of GLP-1s & RFK Jr.
Bank of America Securities food and beverage analyst Peter Galbo joins Market Domination to discuss how to navigate snack food stocks. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. So let's talk about this snack sector, Peter. It's a sector, people know, they love those names. Ah broadly Peter, let's start there. I'm just curious how how constructive or cautious do you feel about that sector, Peter? Yeah, hey Josh. Good to be speaking with you again. Look, I I think we've been a bit more cautious on this back sector. Um, we've certainly seen that it had been a category grower particularly within food for a number of years. And really what we've seen over the past call at 12 months at this point has been a a slowdown in consumption. Now, there's a big question about whether that's structural or cyclical. You know, we tend to take the cyclical bend on on that front. A lot of that has to do with the pricing these snack companies have taken over the past four years. I I'm curious, Peter. We were just talking in in the previous segment to our colleague, Angeli, about the GLP-1s, those medicines. I remember Peter, when they first hit, there were a lot of questions about ramifications, um, ripple effects of those medicines. And it was always brought up like, wow, what is that gonna mean for the snack sector spending forward now, Peter, we have a bit more data of course, how are you thinking about that? Yeah, you know Josh, it's it's hard to dispel it completely. Um, we think again, it's probably more of a cyclical element tied to pricing and really what we're seeing is that kind of the lower price point brands and even higher price point brands are are what are moving. So again, it it tends to be more of a a price issue, I think, relative to GLP-1, at least on the salty snack side. I think where you're probably seeing a bit more pressure is is in sweet snacks and you see that through the results of kind of some of the the sweet snack based companies. Um, but again on the salty side, we're talking about chips, pretzels, that sort of thing. I I I think it's probably less involved. And we'll bring Lou in here as well because I know Lou you think about the GLP-1s, the medicines quite a bit. Your thoughts, do they dovetail with Peter's in terms of you kind of think through the ramifications on the snack sector? Yeah. I think through the ramifications and some of your comments, Peter, make me think like there's always sector rotation strategies, but within the snack sector, is there companies that are adapting to GLP-1s? Is it really a marketing issue for them? How do you think like Nestle rolls out of vital pursuit, uh, frozen food line that attracts GLP-1 friendly, uh, consumers. Is that really an opportunity? And if so, are there certain names that are doing that better in your universe? Yeah, I think I think what we've seen and it's a great question that has really been growth in kind of the better for you snacking elements of the portfolio, right? You had, uh, Hershey looking to acquire lesser evil kind of a better for you popcorn brand. Um, we've seen the explosive growth at at Utz, um, in particular on their, um, uh, Boulder Canyon brand, which is simple ingredients, three ingredients made with avocado oil. So again, has a bit more of a better for you health element to it. Um, and you're seeing pretty tremendous growth out of those specific brands and categories, uh, which is where I think the puck is going. Another theme, Peter, I want you to take an RFK junior, now of course running HHS. I would imagine, Peter, you're getting some questions from clients about that. What kind of effect he's having on the sector, what are you telling them? So when we think about Ma and the impact that maybe it's having. We think at this point, it's probably more, uh, what's being ingrained in the consumer psyche. And so, you know, Josh, as I go back to the point about kind of price and where consumers are are hitting the intersection of what we like to think of as price and health and wellness. It's, look, if I'm gonna pay five or six dollars for a bag of chips, I might think twice about the ingredients that are on the back of the packaging, um, before I put that in the shopping cart. Now, that doesn't preclude people from going for some of those better for you snacks that I talked about, but what we're really seeing, I think, is is consumers getting more, uh, discerning around the ingredient label. You mentioned a couple names I want to get your take on. You mentioned Utz, I just want to dig into that one a little bit because that is a great potato chip. No one disagrees about that, Peter. But that stock, my friend, is down about 15% this year. What what is the issue there, Peter? What's concerning investors? Yeah, I mean it's a stock we continue to like. We have a buy rating, uh, on Utz. And again, we love it for, you know, the the angle of better for you snacking, but also, again, Utz offers a lot of products kind of at a at a lower price point maybe than some of the competitors and and something above private label. So it it sits kind of in a a sweet spot if you're going to take a barbell approach to snacking. I think broader concerns over the category, for sure, have have weighed on, um, the stock and the multiple. But again, if you look at the underlying data, you know, Utz is outperforming the category by several hundred basis points. One more name, Peter, before we go. I want your take on Mondelez. Now, that stock, uh, that actually is up about 15% this year. Looks like the street broadly bullish on this one. Most of it gets a buy here, what what do you see ahead? Couple of things there, Josh, that I would point to. One, I think that that people don't maybe realize is is Mondelez is actually a more European centric country, uh, company that it is, uh, US based. And so what we've seen actually in the first half in in developed markets around the world is that Europe has actually outperformed the US. Mondelez is a large chocolate player in Europe. We've seen really good demand continue for chocolate, uh, in Europe despite the price increases in in Coco. And so I think that's what's been driving a lot of the stock. The second is, just as you've seen, you know, Coco prices have really come down materially and even more so today, uh, since the start of the year. And so again, as as kind of Mondelez climbs the wall of worry on on input cost pressure, I think that's where you're seeing the outperformance. Peter, always great to see you, my friend. Thank you for your time and those stock picks. Thanks very much. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Cocoa Prices Higher on Dollar Weakness and Tighter Ivory Coast Supplies
September ICE NY cocoa (CCU25) today is up +59 (+0.66%), and September ICE London cocoa #7 (CAN25) is down -78 (-1.30%). Cocoa prices today are mixed. Today's slump in the dollar index to a 3-1/4 year low has sparked short covering in NY cocoa. However, strength in the British pound (^GBPUSD) is weighing on London cocoa with the pound just below last Thursday's 3-1/2 year high. The stronger pound undercuts cocoa priced in terms of sterling. Coffee Prices Fall on Abundant Rainfall in Brazil Cocoa Prices Higher on Dollar Weakness and Tighter Ivory Coast Supplies NY Sugar Prices Slump Ahead of July Contract Expiration Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Cocoa prices have support from concern about tighter cocoa supplies from the Ivory Coast. Today's government data showed that Ivory Coast farmers shipped 1.698 MMT of cocoa to ports this marketing year from October 1 to June 29, up +6.8% from last year but down from the much larger +35% increase seen in December. There are reports that heavy rain in the Ivory Coast is keeping cocoa growers off their farms and is disrupting the ongoing mid-crop cocoa harvest. The outlook for smaller cocoa supplies from Ghana, the world's second-largest cocoa producer, is supportive for prices. Last Thursday, Ghana's Cocoa Board cut its 2024/25 cocoa production forecast to 600,000 MT from a December estimate of 617,500. Signs of smaller cocoa exports are supportive of cocoa prices, following last Wednesday's news that Nigerian May cocoa exports fell by -29% y/y to 14,110 MT. Nigeria is the world's fourth-largest exporter of cocoa. The rebound in current cocoa inventories is also bearish for prices. Since falling to a 21-year low of 1,263,493 bags on January 24, ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 9-3/4 month high of 2,363,861 bags on June 18. In late May, NY cocoa rallied to a 5-month nearest-futures high on concerns about weather in West Africa. Despite the recent rain in West Africa, drought still covers more than a third of Ghana and the Ivory Coast, according to the African Flood and Drought Monitor. Cocoa prices also have support due to quality concerns regarding the Ivory Coast's mid-crop cocoa, which is currently being harvested through September. Cocoa processors are complaining about the quality of the crop and have rejected truckloads of Ivory Coast cocoa beans. Processors reported that about 5% to 6% of the mid-crop cocoa in each truckload is of poor quality, compared with 1% during the main crop. According to Rabobank, the poor quality of the Ivory Coast's mid-crop is partly attributed to late-arriving rain in the region, which limited crop growth. The mid-crop is the smaller of the two annual cocoa harvests, which typically starts in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT. Concern about consumer demand for cocoa and cocoa products is bearish for cocoa, driven by fears that tariffs will exacerbate already high cocoa prices. On April 10, Barry Callebaut AG, one of the world's largest chocolate makers, reduced its annual sales guidance due to high cocoa prices and tariff uncertainty. Also, chocolate maker Hershey Co. recently reported that Q1 sales fell by 14% and said it anticipated $15-$20 million in tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. Mondelez International reported weaker-than-expected Q1 sales, stating that consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices. Weaker demand from cocoa processors was seen in Q1. Q1 North American cocoa grindings fell -2.5% y/y to 110,278 MT. Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT. Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT. On May 30, the International Cocoa Organization (ICCO) revised its 2023/24 global cocoa deficit to -494,000 MT from a February estimate of -441,000 MT, the largest deficit in over 60 years. ICCO said 2023/24 cocoa production fell -13.1% y/y to 4.380 MMT. ICCO said the 2023/24 global cocoa stocks/grindings ratio fell to a 46-year low of 27.0%. Looking ahead to 2024/25, ICCO on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in four years. ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Cocoa Prices Settle Mixed on Currency Fluctuations
September ICE NY cocoa (CCU25) Monday closed up +79 (+0.89%), and September ICE London cocoa #7 (CAU25) closed down -78 (-1.30%). Cocoa prices on Monday settled mixed. Monday's slump in the dollar index (DXY00) to a 3-1/4 year low sparked short covering in NY cocoa. However, strength in the British pound (^GBPUSD) weighed on London cocoa with the pound just below last Thursday's 3-1/2 year high. The stronger pound undercuts cocoa priced in terms of sterling. Coffee Prices Fall on Abundant Rainfall in Brazil Cocoa Prices Higher on Dollar Weakness and Tighter Ivory Coast Supplies NY Sugar Prices Slump Ahead of July Contract Expiration Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Cocoa prices have support from concerns about tighter cocoa supplies from the Ivory Coast. Monday's government data showed that Ivory Coast farmers shipped 1.698 MMT of cocoa to ports this marketing year from October 1 to June 29, up +6.8% from last year but down from the much larger +35% increase seen in December. There are reports that heavy rain in the Ivory Coast is keeping cocoa growers off their farms and is disrupting the ongoing mid-crop cocoa harvest. The outlook for smaller cocoa supplies from Ghana, the world's second-largest cocoa producer, is supportive for prices. Last Thursday, Ghana's Cocoa Board cut its 2024/25 cocoa production forecast to 600,000 MT from a December estimate of 617,500. Signs of smaller cocoa exports are supportive of cocoa prices, following last Wednesday's news that Nigerian May cocoa exports fell by -29% y/y to 14,110 MT. Nigeria is the world's fourth-largest exporter of cocoa. The rebound in current cocoa inventories is also bearish for prices. Since falling to a 21-year low of 1,263,493 bags on January 24, ICE-monitored cocoa inventories held in US ports have rebounded and climbed to a 9-3/4 month high of 2,363,861 bags on June 18. In late May, NY cocoa rallied to a 5-month nearest-futures high on concerns about weather in West Africa. Despite the recent rain in West Africa, drought still covers more than a third of Ghana and the Ivory Coast, according to the African Flood and Drought Monitor. Cocoa prices also have support due to quality concerns regarding the Ivory Coast's mid-crop cocoa, which is currently being harvested through September. Cocoa processors are complaining about the quality of the crop and have rejected truckloads of Ivory Coast cocoa beans. Processors reported that about 5% to 6% of the mid-crop cocoa in each truckload is of poor quality, compared with 1% during the main crop. According to Rabobank, the poor quality of the Ivory Coast's mid-crop is partly attributed to late-arriving rain in the region, which limited crop growth. The mid-crop is the smaller of the two annual cocoa harvests, which typically starts in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT. Concern about consumer demand for cocoa and cocoa products is bearish for cocoa, driven by fears that tariffs will exacerbate already high cocoa prices. On April 10, Barry Callebaut AG, one of the world's largest chocolate makers, reduced its annual sales guidance due to high cocoa prices and tariff uncertainty. Also, chocolate maker Hershey Co. recently reported that Q1 sales fell by 14% and said it anticipated $15-$20 million in tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. Mondelez International reported weaker-than-expected Q1 sales, stating that consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices. Weaker demand from cocoa processors was seen in Q1. Q1 North American cocoa grindings fell -2.5% y/y to 110,278 MT. Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT. Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT. On May 30, the International Cocoa Organization (ICCO) revised its 2023/24 global cocoa deficit to -494,000 MT from a February estimate of -441,000 MT, the largest deficit in over 60 years. ICCO said 2023/24 cocoa production fell -13.1% y/y to 4.380 MMT. ICCO said the 2023/24 global cocoa stocks/grindings ratio fell to a 46-year low of 27.0%. Looking ahead to 2024/25, ICCO on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in four years. ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
