Investing.com — It was another busy week of market moves. Given earnings season is underway, we can expect it to get even more hectic. Here are Investing.com’s stocks of the week:
Netflix (NASDAQ:)
Netflix shares surged on Friday. At the time of writing, it is up more than 9% for the day. The move is, of course, in response to the streaming giant’s latest earnings release, which saw it report Q3 EPS of $5.40, $0.28 better than the analyst estimate of $5.12. Meanwhile, revenue for the quarter came in at $9.82 billion, above the consensus estimate of $9.77 billion.
The company added 5.07 million subscribers during its third quarter versus 8.76 million net new subscribers in the year-ago period. However, the figure topped Wall Street estimates, helping send shares higher in early US trading.
Furthermore, Netflix’s Q4 EPS guide of $4.23 topped the consensus of $3.90, with revenue expected to be $10.13 billion, above the consensus of $10 billion.
Following the earnings release, analysts at Piper Sandler said Netflix stock is set up for “another strong year.”
TSM
Taiwan Semi was another big mover this week. Early on Thursday, the company reported strong earnings and guidance, which resulted in a more than 9% rise. The company’s shares gained over 7% in the week.
The semiconductor firm reported Q3 EPS of $1.94, $0.15 better than the analyst estimate of $1.79, while revenue for the quarter came in at $23.5 billion versus the consensus estimate of $23.3 billion.
Taiwan Semi sees Q4 2024 revenue between $26.1-26.9 billion, above the consensus of $24.9 billion. Other chip stocks also rose on the back of the company’s earnings.
For example, NVIDIA (NASDAQ:) tapped a new all-time high in intra-day trading Thursday, with TSM stating in its earnings call that AI demand is “real.”
Following the earnings release, analysts at Bank of America raised their price target for the stock to NT$1,400 “to reflect TSMC’s stronger 3Q results/4Q guidance, better AI strength, and solid industry leadership.”
Nuclear Stocks
Nuclear stocks have staged a strong rally in recent weeks. The bullish run began in late September after Microsoft (NASDAQ:) announced a landmark purchase power agreement with Constellation Energy to supply nuclear power for the tech giant’s data centers.
This week, it was announced that Kairos Power and Google (NASDAQ:) have signed a Master Plant Development Agreement to create a path to deploy a U.S. fleet of advanced nuclear power projects totaling 500 MW by 2035.
Then two days later, Amazon (NASDAQ:) became the latest tech giant to buy into nuclear power after revealing it has signed three new agreements to support the development of nuclear energy projects—including enabling the construction of several new Small Modular Reactors (SMRs).
One of those agreements with Dominion Energy (NYSE:) to explore the development of a small modular nuclear reactor, near Dominion’s existing North Anna nuclear power station. The news surrounding nuclear has resulted in a boost for stocks in the sector. Here are just some of the big nuclear stock movers in the last week:
- Cameco Corp (TSX:): +15%
- Nuscale Power Corp (NYSE:): +56%
- Centrus Energy (NYSE:): +73%
- Oklo Inc (NYSE:): +102%
- Nano Nuclear Energy Inc (NASDAQ:): +25%
European Stocks
While LVMH Moet Hennessy Louis Vuitton SE (EPA:) shares have managed to regain most of their losses, the stock fell sharply on Wednesday after the luxury group posted a 3% slide in third-quarter sales.
The company said its third-quarter sales decline arose primarily “from lower growth seen in Japan, essentially due to the stronger yen.” The company also noted that “Hennessy cognac was held back by weak local demand in the Chinese market.”
Despite the headwinds, analysts at Stifel believe an improvement for the company could arrive in H2 2025, driven by stimulus measures in China and a recovery in consumer sentiment.
ASML Holding NV (AS:) ADR (NASDAQ:) was one semiconductor stock that took a hit this week. On Tuesday, it declined over 15% as its latest earnings release disappointed investors.
Following the report, which seemed to be released a day early in error, analysts at Cantor Fitzgerald lowered the price target to EUR 750 from EUR1,000, removing it as a top pick. The firm did, however, maintain an Overweight rating on ASML.
“This Q was obviously a disaster given order weakness and cut to the company’s CY25 outlook,” said the firm. “Near term, we view a likely bottom as €600 (25x new mid-point of 2025 target model) — and with shares at €633, we think the sell-off is mostly done. As for positive catalysts, it will take some time.”
