The Nasdaq 100 rose after the Fed announced a 75 basis-point rate hike for the second straight month and indicated a tightening of policy based on economic data. This, along with better-than-expected corporate earnings, should help the index remain resilient in the near term. Therefore, it may be wise to invest in the fundamentally strong Nasdaq 100 stocks Adobe (ADBE), Autodesk (ADSK), Dollar Tree (DLTR), and Gilead Sciences (GILD). read on….
Nasdaq 100 up more than 4% After the Federal Reserve announced a 75 basis-point interest rate hike in response to multi-decade high inflation for the second month in a row. This is Nasdaq’s biggest rally since November 2020.
Despite US GDP contracting, the stock market rose yesterday 0.9% for the second straight quarter, Better-than-expected corporate earnings could help the Nasdaq 100 remain resilient in the near term.
Adobe Inc. ,adbe,
ADBE operates as a diversified software company internationally. It operates through three segments: Digital Media, Digital Experience and Publishing & Advertising.
Last month, ADBE announced innovations for its customer data platform (CDP), Adobe Real-Time CDP, to help brands transition from third-party cookies to first-party data. As businesses across all industries adopt Adobe Real-Time CDP, ADBE introduces rich customer profiles with commerce, AI-powered targeting, new privacy and security tools, and segment match across all channels.
In addition, last month ADBE expanded its partnership with Home Depot to improve the customer experience. As part of the company’s interconnected retail strategy, a seamless experience extends to e-commerce, an award-winning mobile app, and in-store services such as pickup lockers and in-app product locators. With so many touchpoints, the ADBE partnership will provide comprehensive insight into the customer journey.
ADBE’s total revenue for the second quarter ended June 3, 2022 increased 14.4% year-on-year to $4.39 billion. its non-GAAP operating income It rose 12% from its year-ago value to $1.97 billion, while its non-GAAP net income rose to $1.59 billion, up 8.9% from the prior-year quarter. The company’s non-GAAP EPS increased 10.6% year-over-year to $3.35.
Analysts expect ADBE’s revenue to grow 12.9% year-over-year to $4.44 billion for the third quarter ended August 2022. The consensus EPS estimate of $3.35 represents a 7.7% year-over-year improvement for the third quarter ending August 2022. The stock has gained 10.2 per cent in the past one month.
adbe power rating Reflect on this promising outlook. The company has an overall rating of B, which translates into Buy in our proprietary rating system. PoWR Ratings assesses stocks based on 118 different factors, each with its own weighting.
In stock there is also A grade for quality and B for sentiment. within F-rated software application Industry, ADBE ranked #31 out of 154 stocks
click here To view additional POWR ratings for Growth, Price, Stability and Speed for ADBE.
Autodesk, Inc. ,ADSK,
ADSK provides 3D design, engineering and entertainment software and services worldwide. The company provides AutoCAD Civil 3D, survey, design, analysis and documentation solutions for civil engineering, including land development, transportation and environmental projects.
In April, ADSK announced that it was adopting Autodesk Construction Cloud and installing a powerful construction management platform into its standard operating procedures (SOPs). Evans teams will use Autodesk Construction Cloud to quickly onboard new employees, maximize coordination among project stakeholders, and minimize project errors.
In March, ADSK signed a pivotal agreement to acquire The Wild, a cloud-connected, expanded reality (XR) platform, along with its namesake solutions, The Wild and IrisVR. This acquisition enables Autodesk to meet the growing needs of augmented reality (AR) and virtual reality (VR) technology advancements within the AEC industry and support AEC customers throughout the project delivery lifecycle.
During the first quarter ended April 30, 2022, ADSK’s total net revenue increased 18.3% year-over-year to $1.17 billion. Its income from operations increased 59.7% year-over-year to $214.00 million, while its net income rose to $146.00 million. The company’s EPS for the quarter stood at $0.67.
ADSK’s strong fundamentals are reflected in its POWR rating. The stock has an overall B rating, which is equivalent to Buy in our power rating system. The stock also has A grade for quality and B for growth. Within the Software – Applications industry, it is ranked #28.
In total, we rate ADSK at eight different levels. In addition to what we’ve said above, we’ve also given ADSK grades for stability, value, sentiment and momentum. GET ALL ADSK RATINGS Here,
Dollar Tree, Inc. ,DLTR,
DLTR operates a variety of retail stores. It has two operational segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers consumable goods including candy and food, health and personal care as well as everyday consumables. The Family Dollar segment operates general merchandise retail discount stores that offer consumables.
For the first quarter ended April 30, 2022, DLTR’s total revenue grew 6.5% year-on-year to $6.90 billion. Its operating income rose 40.7% from its year-ago value to $731.50 million, while its net income rose to $536.40 million, up 43.2% from its year-ago value. The company’s EPS improved 48.2% year-over-year to $2.37.
The $1.59 consensus EPS estimate for the second quarter ending July 2022 represents a 29.7% improvement year-over-year. Analysts expect DLTR’s revenue to grow 7% year-over-year to $6.78 billion for the second quarter ending July 2022. The stock is up 16.2% year-over-year.
It should come as no surprise that the DLTR has an overall B rating, which is on par with Buy in our power rating system. DLTR has a B grade for growth and sentiment. A-rated. In Grocery/Big Box Retailer Industry, it is ranked #26 out of 38 stocks.
click here To see additional POWR ratings for DLTR (Stability, Speed, Value and Quality).
Gilead Sciences, Inc. ,to gild,
GILD, a biopharmaceutical company, discovers, develops and commercializes drugs in areas without medical need in the United States, Europe, and internationally. The company offers Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild, and Atripla products.
This month, GILD and the European Commission signed a new Joint Purchase Agreement (JPA), which will ensure continued rapid and equitable access to Veklury for member states participating in the European Union (EU) and the European Economic Area (EEA) . The agreement includes the acquisition of Weclery over the next twelve months and has the option to extend it for an additional six months.
For the first quarter ended March 31, 2022, GILD’s total revenue increased 2.6% year-over-year to $6.59 billion. Its income from operations was $197.00 million, while its net income was $12.00 million. The company’s EPS for the quarter stood at $0.02.
The consensus EPS estimate of $1.41 for the fourth quarter ended December 2022 represents 104.9% year-over-year growth.
GILD’s strong core elements are reflected in its POWR rating. The stock has an overall A rating, which equates to a strong buy in our power rating system. The stock also has A grade for value and B for sentiment and quality. within F-rated Biotechnology Industry, it is ranked #7 out of 400 stocks.
In total, we evaluate GILD at eight different levels. In addition to what we’ve said above, we’ve also given GILD grades for stability, growth, and speed. get all guild ratings Here,
Shares of ADBE were trading at $409.06 per share, up $5.56 (+1.38%) on Friday afternoon. Year-on-year, ADBE is down -27.86%, while the benchmark S&P 500 index has gained -12.68% during the same period.
About the Author: Spandan Khandelwal
Spandan is a financial journalist and investment analyst focused on the stock market. Along with their ability to interpret financial data, they aim to help investors evaluate a company’s fundamentals before investing.