Latest news for Canon (OTC:CAJPY) Stock

Canon Inc designs, manufactures and distributes an extensive range of consumer and electronic products, including copiers, cameras, lenses, and inkjet printers. The company operates four major business segments: printing, imaging, medical, industrial, and others. It generates maximum revenue from the printing segment. Printing Business Unit includes Office multifunction devices (MFDs), Document solutions, Laser multifunction printers (MFPs), Laser printers, Inkjet printers, Image scanners, Calculators, Digital continuous feed presses, Digital sheet-fed presses, and Large format printers.

Canon Inc

Vice President Kamala Harris and former President Donald Trump are less than four months away from a likely head-to-head matchup in the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
Election polls show a close race between the two candidates, with Harris gaining support that President Joe Biden lost since the first 2024 presidential debate.
What Happened: Prior to Biden dropping out of the 2024 election race, Trump's lead had been growing in election polls and in <a href="https://www.benzinga.com/general/sports-betting/24/07/39868243/2024-election-betting-odds-joe-biden-has-8-chance-of-winning-according-to-sportsbooks-pred">betting odds from sportsbooks </a>and prediction markets.
Since Biden dropped out, Harris has gained back support and in some polls, even topped the former president.
A new Morning Consult poll shows how voters would vote in the expected head-to-head matchup of Trump and Harris.
The new poll shows the following results from voters, with the results from <a href="https://www.benzinga.com/general/politics/24/07/39920146/harris-vs-trump-vice-president-trails-former-president-by-2-points-gains-independent-voters-59-o">the July 23 poll</a> in parentheses.
<ul>
<li>Kamala Harris: 47% (45%)</li>
<li>Donald Trump: 46% (47%)</li>
<li>Someone else: 4% (5%)</li>
<li>Don't Know: 4% (4%)</li>
</ul>
The poll found that 90% of Democrats backed Harris as their top pick. The poll also found that 91% of Republicans backed Trump as their top pick.
Independent voters selected the following as their head-to-head preference:
<ul>
<li>Kamala Harris: 41%</li>
<li>Donald Trump: 40%</li>
<li>Someone Else: 10%</li>
<li>Don't Know: 9%</li>
</ul>
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073024">With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: After tailing Trump by two points in last week's poll, Harris has reversed course and in a three-point swing now leads the former president by one point.
The lead from Harris comes several weeks after Trump had grown to a six-point lead over Biden before the current president dropping out of the race.
The new Morning Consult poll showed Harris leading Trump, but also posting some of the most favorable results in the entire 2024 election cycle.
In the poll, Harris' 47% of backing tops the 45% high that Biden received during the 2024 election cycle.
Harris received a 50% favorable rating from voters in the poll, improving from 43% in the prior week. Harris has a 46% unfavorable rating in the poll. The four-point net favorability rating is higher than Biden and Trump have had in the entire 2024 election cycle.
Forty-seven percent of voters said they heard something positive about Harris in the last week with 35% saying they heard something negative about the vice president. The net buzz rating of 12 points was also higher than Biden and Trump have received in the 2024 election cycle.
While Harris leads Trump by one point in the election poll, the net buzz and net favorability scores and improvements from last week could prove to be increasingly important in the coming weeks for the potential to increase her lead.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. Get Tips On What They Bought And Sold Ahead Of The 2024 Election <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent073024">With Our Easy-to-Use Tool</a> Photo: Shutterstock </li>
</ul>

Politics

Trump Vs. Harris: Vice President Leads 2024 Election By 1 Point, Hits Records For Net Buzz, Net Favorability

Researchers at the School of Public Health at the University of Colorado&#8217;s Anschutz Medical Campus are looking into the effects of <a href="https://www.benzinga.com/markets/cannabis/24/05/38939544/world-first-medical-marijuana-driving-trial-approved-in-australia-victoria-government-invests-4-">cannabis on driving performance. </a>
This study, spanning two years, recruited more than 200 participants aged between 25 and 55 to understand the multifaceted impacts of cannabis consumption on driving abilities.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/02/36969871/is-weed-worse-than-alcohol-for-driving-new-study-challenges-common-dui-assumptions">Is Weed Worse Than Alcohol For Driving? New Study Challenges Common DUI Assumptions</a>
<h3 class="wp-block-heading">Inside the Study: Methodology And Insights</h3>
According to 9News, participants in this study, which lasts between three to five hours depending on cannabis consumption levels, undergo a series of tests designed to mimic real-world scenarios. 
Dr. Ashley Brooks-Russell, leading the research, explained the primary objectives. "With this study, we can understand how people change after cannabis use, how they drive differently, the reaction time, memory issues, blood, or how the eyes change. The eyes in particular are one thing that police look for on the road."
The study environment included a dedicated room where participants used high-concentration cannabis products such as dabs, vape pens or edibles.
Post-consumption, participants underwent blood tests, cognitive assessments on an iPad and driving simulations. The aim is not to assess driving skills but to observe the deterioration in driving performance under the influence of cannabis.
Brooks-Russell highlighted the ongoing issues law enforcement faces with cannabis impairment. "This is something we've been interested in for a while and we're still seeing a lot of cannabis-impaired crashes or people pulled over for cannabis impairment, so it's still a big problem,&#8221; she said.
&#8220;Law enforcement doesn't have a lot of tools to help detect who's impaired from cannabis maybe versus some other substances. It's not as straightforward as alcohol, so they really have a lot of challenges.&#8221; 
<h3 class="wp-block-heading">Observations And Findings</h3>
Early findings from the study indicate significant driving performance changes in occasional cannabis users. These changes include weaving in and out of traffic, slower reaction times, memory issues and noticeable eye changes.
Interestingly, daily users of cannabis, particularly those using it for medical reasons, show less impairment, suggesting a possible development of tolerance.
"We're also interested in how those who use cannabis every single day might be different than people who do it occasionally. We know a lot of people use it for medical reasons and they can develop some tolerance, and those individuals don't seem to change as much as those who use occasionally," said Brooks-Russell.
<h3 class="wp-block-heading">Future Directions And Broader Implications</h3>
The researchers are also looking to expand their study to include adults aged 65 and older. This demographic is seeing a significant rise in cannabis use, often accompanied by other medications and potential cognitive decline. 
A noteworthy aspect of this research is its potential application in developing a reliable <a href="https://www.benzinga.com/markets/cannabis/24/02/36912626/hold-yup-you-just-smoked-weed-new-testing-method-confirms-recent-cannabis-use-with-96-accuracy-f">tool for law enforcement, </a>akin to a breathalyzer for alcohol. This could be a game-changer in accurately identifying cannabis impairment on the roads.
Read Next: 
<ul>
<li><a href="https://benzinga.com/markets/cannabis/24/02/37105432/medical-marijuana-does-not-impact-driving-abilities-when-used-as-prescribed-new-study-asserts">Medical Marijuana Does Not Impact Driving Abilities When Used As Prescribed, New Study Asserts</a></li>
</ul>
Cover image made with AI

Cannabis

News

Markets

Does Cannabis Affect Your Driving? University Of Colorado Researchers Find Out

Israel believes an air strike on<a href="https://www.benzinga.com/news/24/07/40026841/us-leads-diplomatic-drive-to-curb-israels-response-to-golan-heights-assault-prevent-attack-on-densel"> Beirut killed</a> a senior commander of the Lebanese armed group Hezbollah, according to Israel&#8217;s public broadcaster Kan.
Israel carried out the attack in response to a rocket attack on the Golan Heights that killed 12 youngsters three days ago, Reuters reported.
The attack caused a loud blast and a plume of smoke that rose above Beirut&#8217;s southern suburbs, which is a stronghold of the Iran-backed Hezbollah, at around 7:40 p.m. (1640 GMT), a Reuters witness said.
Two security sources in Lebanon named the target of Tuesday&#8217;s attack as Muhsin Shukr, also known as Fuad Shukr, head of Hezbollah&#8217;s operations center.
Lebanese Health Minister Firas Abiad told Reuters the strike also killed another person and injured 35.
Read Also: <a href="https://www.benzinga.com/news/24/01/36458551/hamas-deputy-leader-killed-in-suspected-israeli-drone-strike-in-beirut-oil-prices-fall">Hamas Deputy Leader Killed In Suspected Israeli Drone Strike In Beirut: Oil Prices Fall</a>
Hezbollah denied involvement in the Golan attack but said it fired rockets at a military target in the Golan Heights. The attack on Golan Heights prompted a high-level Western diplomatic effort to avoid the conflict from escalating and provoking the wider Middle East.
There were about 25 rockets launched from south Lebanon into northern Israel throughout the day, the Israeli military said. 
&#8220;We defer to Israel to speak to its own military operations,&#8221; the White House said in a statement reacting to the attack on Beirut. 
&#8220;We reiterate our clear position: Our commitment to Israel&#8217;s security is ironclad and unwavering against all Iran-backed threats, including Hezbollah, and we are working on a diplomatic solution that will allow citizens to safely return to their homes.&#8221;
Read Now:
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<li><a href="https://www.benzinga.com/markets/emerging-markets/24/05/39048961/all-eyes-on-rafah-as-israeli-forces-enter-safe-zones-spain-ireland-and-norway-officially">All Eyes On Rafah As Israeli Forces Enter Safe Zones; Spain, Ireland And Norway Officially Recognize Palestinian State</a></li>
</ul>
Photo: Shutterstock

Government

Global

Israel's Air Strike On Beirut Believed To Have Killed Hezbollah Commander

Warner Bros. Discovery Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) Warner Bros. Games lifted the veil on the eagerly anticipated Harry Potter: Quidditch Champions with the release of its &#8220;Welcome Students&#8221; pre-order <a href="https://www.benzinga.com/general/entertainment/24/04/38210300/video-check-out-the-epic-recreation-of-gta-6-trailer-in-real-life">trailer. </a>
Developed by Unbroken Studios, the game promises to immerse fans in the high-flying sport of Quidditch, a staple of the beloved Harry Potter series.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/05/38665181/magical-escapes-5-harry-potter-theme-parks-thatll-transport-you-to-hogwarts-and-beyond">Magical Escapes: 5 Harry Potter Theme Parks That&#8217;ll Transport You To Hogwarts And Beyond!</a>
<h1 class="wp-block-heading">Gameplay And Modes</h1>
The trailer offers a glimpse into the game&#8217;s dual modes: the single-player Career Mode and the Online Competitive Mode. Players will have the chance to soar through iconic arenas as one of four Quidditch positions: Beater, Chaser, Keeper or Seeker.
Fans will recognize familiar faces, including Harry Potter, Ron Weasley, and Draco Malfoy, as well as notable locations such as the Quidditch World Cup Stadium and various settings from the wizarding world.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Harry Potter: Quidditch Champions - Official Trailer - &quot;Welcome Students!&quot;" width="500" height="281" src="https://www.youtube.com/embed/2vUTDoKLp40?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h1 class="wp-block-heading">Release Strategy</h1>
Harry Potter: Quidditch Champions is set to launch digitally across multiple platforms on Sept. 3, 2024. It will be available on Xbox Series X and S, Xbox One, PlayStation 4, PlayStation 5 and PC via Steam and the Epic Games Store.
Meanwhile, the Physical Deluxe Edition will be released on Nov. 8, 2024, for the PS5, PS4, Xbox Series X and Xbox One. A Nintendo Switch version is expected to arrive this holiday season.
Sony Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) secured an exclusive launch benefit for PlayStation users, with Harry Potter: Quidditch Champions available as a PlayStation Plus game from Sept. 3 to Sept. 30.
During this period, subscribers will also receive a Firebolt Supreme Broom Skin as a redeemable pack. PlayStation Plus members who download the game during this window will retain access as long as they maintain their subscription.
<h1 class="wp-block-heading">Pricing and Editions</h1>
The Digital Standard Edition of the game will be priced at $29.99, while the Digital and Physical Deluxe Editions will be available for $39.99. The Deluxe Edition includes the base game, House Packs for Slytherin, Hufflepuff, Ravenclaw, and Gryffindor, along with 2,000 in-game gold.
In a noteworthy move, Warner Bros. Games confirmed that Harry Potter: Quidditch Champions will not feature microtransactions. According to the company, &#8220;Gold is only earned through gameplay progression.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/general/gaming/24/01/36563128/hogwarts-legacy-touts-22m-copies-sold-in-2023-warner-bros-discovery-teases-future-projects">&#8216;Hogwarts Legacy&#8217; Touts 22M Copies Sold In 2023: Warner Bros. Discovery Teases Future Projects</a></li>
</ul>
Image courtesy: WBD via Steam.

Entertainment

Gaming

General

Sony Group Corporation American Depositary Shares

SONY

Harry Potter: Quidditch Champions Trailer Reveal – Gameplay, Characters, More

DA Davidson analyst Gil Luria downgrades Appian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>) from Buy to Neutral and lowers the price target from $48 to $33.

Downgrades

Price Target

Analyst Ratings

APPN

DA Davidson Downgrades Appian to Neutral, Lowers Price Target to $33

In a fresh line of attack, <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a> targeted <a href="https://www.benzinga.com/topic/kamala-harris">Vice President Kamala Harris</a>'s prosecutorial record on marijuana, telling Fox News that she &#8220;put thousands and thousands of Black people in jail over marijuana.
"She was a bad prosecutor. She was a prosecutor of Black people," Trump said Monday on Fox News' "The Ingraham Angle." 
&#8220;She put thousands and thousands of black people in jail over marijuana. But when it came to big crime, murders and everything else, she was weak,&#8221; the former president told Laura Ingraham in an interview.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Trump answers whether he will debate Kamala Harris or not" width="500" height="281" src="https://www.youtube.com/embed/x-Admc1UXCc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40001997/kamala-harriss-hearty-laugh-why-does-it-bother-donald-trump-and-his-followers-so-much">From Attorney General To VP To Potential President. What Is Vice President Kamala Harris&#8217; Net Worth?</a>
The narrative of Harris&#8217;s aggressive cannabis prosecutions has followed her since her 2020 Democratic presidential bid. When President <a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t">Biden dropped out of the race</a> and named Harris as the presumptive nominee, criticism over her rulings as a prosecutor re-emerged.
<h1 class="wp-block-heading">What Say You, VP Harris?</h1>
"Before I was elected as vice president, before I was elected as United States senator, I was the elected attorney general, as I&#8217;ve mentioned, of California. And before that, I was a courtroom prosecutor," Harris <a href="https://www.npr.org/2024/07/29/nx-s1-5048532/harris-prosecutor-trump-election">told</a> campaign staffers the day after Biden endorsed her to take his place at the top of the Democratic ticket. While Harris may have been grandstanding her prowess as a tough prosecutor for Trump&#8217;s sake, voters on the left often referred to Harris as a cop.
"And they didn't mean that as a compliment," Paul Butler, a law professor at Georgetown and a former public prosecutor, told NPR.
When Harris ran for president five years ago, her time as a prosecutor was a liability as she was often criticized for her record on marijuana, which of course <a href="https://www.benzinga.com/markets/cannabis/24/07/39890659/kamala-harris-u-turn-on-cannabis-heres-where-she-stands-on-weed-legalization-now">has changed</a>. 
Though Trump's attack is misleading, one wonders if he is making his first moves to position himself against cannabis criminalization by bringing Harris to task and laying the mass incarceration of Black people for cannabis at her doorstep? Analysis conducted by the American Civil Liberties Union <a href="https://graphics.aclu.org/marijuana-arrest-report/">shows</a> that Black people are 3.6 times more likely than white people to be arrested for marijuana possession, despite similar usage rates.
<h1 class="wp-block-heading">Exactly How Many Cannabis Convictions Were There Under Prosecutor Harris?</h1>
As attorney general between 2004 and 2010 Harris oversaw roughly&nbsp;1,956 misdemeanor and felony convictions&nbsp;for "marijuana possession, cultivation, or sale," according to a 2020&nbsp;<a href="https://www.reuters.com/article/uk-factcheck-kamalaharris-five-claims/fact-check-misleading-meme-featuring-five-claims-about-kamala-harris-idUSKBN25H2F2/">Reuters fact check</a>. However, defense attorneys and prosecutors in Harris' office&nbsp;<a href="https://www.mercurynews.com/2019/09/11/kamala-harris-prosecuting-marijuana-cases/" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the Mercury News last week&nbsp;that most of the people convicted during this period did not serve jail time. Convictions for marijuana also went down&nbsp;under Harris' tenure as district attorney.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/40045648/kamala-harris-gains-on-trump-in-his-home-state-of-florida-why-cannabis-legalization-and-abortion">Kamala Harris Gains On Trump In His Home State Of Florida: Why? Cannabis Legalization And Abortion Access</a></li>
</ul>
Photo Shutterstock

Legal

Trump Says Harris Jailed 'Thousands And Thousands Of Black People' Over Marijuana In Her Years As Prosecutor, In Gross Exaggeration

NASA, Northrop Grumman, And SpaceX Target 11:28 A.M. EDT On Saturday, Aug. 3, For Next Launch To Deliver Science Investigations, Supplies, And Equipment To International Space Station

NorthWestern Energy Expects To Maintain Dividend Payout Ratio Within Targeted 60-70% Range Over The Longer-Term

&quot;We are also affirming our long-term (5 year) diluted earnings per share growth&nbsp;guidance&nbsp;of&nbsp;4%&nbsp;to&nbsp;6%&nbsp;from a 2022 base year of&nbsp;$3.18&nbsp;diluted earnings per share on a non-GAAP basis. We expect rate base growth of&nbsp;4%&nbsp;to&nbsp;6%.&quot;

Guidance

NorthWestern Energy Affirms 2024 EPS Guidance Of $3.42 - $3.62 (Est $3.50) And $500M Capital Plan

NorthWestern (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWE#NASDAQ">NWE</a>) reported quarterly earnings of $0.53 per share which missed the analyst consensus estimate of $0.54 by 1.85 percent. This is a 51.43 percent increase over earnings of $0.35 per share from the same period last year. The company reported quarterly sales of $319.900 million which beat the analyst consensus estimate of $310.402 million by 3.06 percent. This is a 10.12 percent increase over sales of $290.500 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

NorthWestern Q2 2024 Adj. EPS $0.53 Misses $0.54 Estimate, Sales $319.900M Beat $310.402M Estimate

&quot;Market conditions for compression remain highly constructive, predominantly in oil plays with associated gas production like the Permian Basin.&quot;

AROC

Archrock Reaffirms 2024 Adjusted EBITDA Guidance Range Of $510M - $540M

Archrock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AROC#NYSE">AROC</a>) reported quarterly earnings of $0.22 per share which missed the analyst consensus estimate of $0.25 by 12 percent. This is a 37.5 percent increase over earnings of $0.16 per share from the same period last year. The company reported quarterly sales of $270.526 million which missed the analyst consensus estimate of $270.604 million by 0.03 percent. This is a 9.28 percent increase over sales of $247.543 million the same period last year.

Archrock Q2 2024 GAAP EPS $0.22 Misses $0.25 Estimate, Sales $270.526M Miss $270.604M Estimate

TFS Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFSL#NASDAQ">TFSL</a>) reported quarterly earnings of $0.07 per share which beat the analyst consensus estimate of $0.06 by 16.67 percent. This is a 16.67 percent increase over earnings of $0.06 per share from the same period last year. The company reported $75.518 million in sales this quarter. This is a 1.20 percent increase over sales of $74.622 million the same period last year.

TFSL

TFS Financial Q3 2024 GAAP EPS $0.07 Beats $0.06 Estimate, Sales $75.518M Up From $74.622M YoY

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares are trading higher in Tuesday&#8217;s after-hours session in sympathy with Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), which got a lift from strong <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">second-quarter earnings results</a>.
What Happened With AMD: AMD reported second-quarter revenue of $5.835 billion, beating <a href="https://www.benzinga.com/calendars/earnings">analyst estimates</a> of $5.724 billion. The chipmaker reported adjusted earnings of 69 cents per share, beating analyst estimates of 68 cents per share.
&#8220;We delivered strong revenue and earnings growth in the&nbsp;second quarter&nbsp;driven by record Data Center segment revenue. Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors,&#8221; said Lisa Su, chair and CEO of AMD.
&#8220;The rapid advances in generative AI are driving demand for more compute in every market, creating significant growth opportunities as we deliver leadership AI solutions across our business.&#8221;
AMD said it expects third-quarter revenue to be between $6.4 billion and $7 billion versus estimates of $6.61 billion. The company anticipates third-quarter gross margin of approximately 53.5%. AMD also said on its conference call that it expects GPU revenue to exceed $4.5 billion this year, up from its prior forecast of approximately $4 billion. 
AMD shares were up more than 7% in extended trading at last check.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">AMD Shares Rebound After Chipmaker Posts Q2 Beat, Guidance Tops Expectations: CEO Lisa Su Says AI Business Accelerating</a>
Why It Matters: Nvidia has been the biggest beneficiary of the <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39957087/fabrinet-the-ai-secret-weapon-powering-nvidias-data-center-boom">AI boom</a>, but the stock sold off in recent weeks as investors braced for big tech earnings. AMD&#8217;s upside surprise and commentary surrounding data center and AI strength appear to be spurring a bounce in Nvidia shares after the bell.
Nvidia is not due to report earnings for the second quarter until late August. The company is expected to report earnings of 64 cents per share and revenue of $28.465 billion. Nvidia has beat analyst estimates on the top and bottom lines in six consecutive quarters, according to <a href="http://pro.benzinga.com">Benzinga Pro</a> data.
NVDA Price Action: Nvidia shares initially traded down below the $101 level in extended trading before staging a sharp reversal. The stock was up 2.88% in after-hours, trading at $106.72 at the time of publication, according to price data from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">Microsoft Q4 Earnings Highlights: Revenue Beat, EPS Beat, Cloud Revenue Up 21% YoY, &#8216;Ensuring We Lead The AI Era&#8217;</a></li>
</ul>
Photo: Shutterstock.

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Movers

Tech

NVDA

Nvidia Stock Is Surging After The Bell: What's Going On?

Founded in 2015, Holisto continues to be led by its founders and operates independently. The team comprises about 250 people working from its headquarters in Israel and in other global locations.

TRVG

Trivago Reveals Strategic Investment In Holisto, An AI-driven Travel Tech Platform That Serves As Hotel Rate Aggregator And White-label Booking Engine Provider

Caesars Entertainment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) shares are up after the company reported its second-quarter financial results Tuesday. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/07/b40049728/caesars-entertainment-inc-reports-second-quarter-2024-results">details from the report.&nbsp;</a>
The Details: Caesars Entertainment reported quarterly revenue of $2.83 billion which missed the analyst consensus estimate of $2.867 billion by 1.28% and represents a 1.7% decrease from the same period last year. The company missed the consensus estimate for earnings of 13 cents per share and reported earnings of 0.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40023781/sprouts-farmers-market-stock-is-up-on-q2-results-strong-q3-guidance">Sprouts Farmers Market Stock Is Up On Q2 Results, Strong Q3 Guidance</a>
&#8220;On a consolidated basis, the Company generated $1 billion of Adjusted EBITDA. Our operating results reflect year-over-year growth in Adjusted EBITDA in our Las Vegas segment driven by record same-store revenues, hotel occupancy and Average Daily Rate (ADR),&#8221; said Tom Reeg, CEO of Caesars Entertainment.
&#8220;Our Caesars Digital segment posted a new second-quarter Adjusted EBITDA record, driven by strong revenue growth and solid flow through. Regional segment results reflect competition in new markets partially offset by our temporary facility in Danville, Virginia and our property in Columbus, Nebraska,&#8221; Reeg added.
Outlook:&nbsp;Caesars Entertainment said it remains optimistic for the balance of 2024 driven by operating trends in Las Vegas and its digital segments. The company continues to forecast full-year capital expenditures of $800 million, excluding its Danville project.
CZR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Caesars Entertainment shares are up 4.34% after-hours at $38.50 at the time of publication Tuesday.
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Luxfer Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXFR#NYSE">LXFR</a>) reported quarterly earnings of $0.24 per share which met the analyst consensus estimate. This is a 11.11 percent decrease over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $99.700 million which met the analyst consensus estimate. This is a 9.69 percent decrease over sales of $110.400 million the same period last year.

LXFR

Luxfer Holdings Q2 2024 Adj. EPS $0.24, Inline, Sales $99.700M Inline

Upon Murray&#39;s resignation, the Board appointed A. Robert Pisano to serve as interim Chairman of the Board. Pisano has served as a director of the Board since 2002 and as Lead Independent Director since 2004. David White has been appointed to succeed Mr. Pisano as the Lead Independent Director of the Board.

Management

Resources Connection Says Donald B. Murray Has Resigned As Chairman And A Director; Robert Pisano Appointed As Interim Chairman

SRBK

SR Bancorp Q2 EPS $(0.34) Vs $0.12 YoY

TPG RE Finance Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRTX#NYSE">TRTX</a>) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.25 by 12 percent. The company reported quarterly sales of $39.302 million which beat the analyst consensus estimate of $29.175 million by 34.71 percent. This is a 20.43 percent increase over sales of $32.634 million the same period last year.

TRTX

TPG RE Finance Trust Q2 2024 Adj. EPS $0.28 Beats $0.25 Estimate, Sales $39.302M Beat $29.175M Estimate

The technology sector's significant growth is fueled by continued technological innovation, Gen Z's mobile habits, and rising demand for versatile devices. Hence, it could be wise to invest in tech stocks Canon (CAJPY), Zoom Video Communications (ZM), and Brother Industries (BRTHY), which are poised to surpass expectations. Continue reading... The tech sector is set to witness solid growth this year, emphasizing efficiency, innovation, and increased spending on software and IT services, focusing on globalization and generative AI growth. So, investors could consider buying top tech stocks Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>), Zoom Video Communications, Inc. (<a href="https://stocknews.com/stock/ZM/">ZM</a>), and Brother Industries, Ltd. (<a href="https://stocknews.com/stock/BRTHY/">BRTHY</a>) for potential gains.
A notable surge of 49.1% in the NASDAQ Composite over the past year underscores robust growth and outstanding performance in the technology sector, demonstrating investor confidence and optimistic sentiment regarding the future of technology companies.
In addition, the U.S. consumer electronics industry is set to bounce back in 2024, with sales expected to rise by 2.8% year-over-year to $512 billion, driven by PC and smartphone refresh cycles. Also, AI is poised to drive device upgrades, with software and services sales forecasted to grow by 3.8% to $163 billion, and hardware sales are projected to <a href="https://www.investors.com/news/technology/ces-2024-upgrades-to-drive-consumer-electronics-sales/">rise by 2.3% to $349 billion</a>.
Moreover, Gen Z's tech habits emphasize mobile and social media use, pushing for personalized experiences and sustainability reshaping work, education, and healthcare. <a href="https://www.cta.tech/Resources/Newsroom/Media-Releases/2024/February/CTA-Research-Exploring-Gen-Z-Views-and-Preferences">CTA's study highlights</a> 86% tech reliance, owning 13 devices on average, and spending 12 hours daily, preferring smartphones and streaming/gaming devices over TVs.
The IT hardware market is further buoyant, fueled by the rising demand for versatile devices like laptops and tablets, driven by remote work and learning needs during the pandemic. Manufacturers continuously innovate to meet diverse digital needs across sectors, driving market growth. The global IT services market is expected to grow at a <a href="https://www.grandviewresearch.com/industry-analysis/it-services-market-report#:~:text=The%20global%20IT%20services%20market%20is%20expected%20to%20grow%20at,share%20of%2036.8%25%20in%202022.">CAGR of 9.7%</a> by 2030.
Considering these conducive trends, let's examine the fundamentals of the three best tech stock picks.
Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>)
Headquartered in Tokyo, Japan, CAJPY is a multinational company specializing in a diverse range of products, including office multifunction devices, printers, cameras, medical equipment, and lithography equipment. It operates through several business units, including Printing; Imaging; Medical; Industrial; and others.
On March 26, CAJPY expands its ColorStream 8000 series with the ColorStream 8110 and flagship ColorStream 8200, boasting speeds of up to 361 and 656 feet per minute, respectively. These models feature native 1200 DPI printheads, which are highly pigmented water-based polymer inks and can deliver 2,860 impressions per minute with PRISMA production workflow integration.
On March 18, CAJPY launched the CE-SAT-IE micro-satellite, confirming normal operation post-launch and successful communication with ground stations. Equipped with CAJPY's PowerShot S110 compact digital camera, it captured the Gulf of California and aims for high-resolution imaging with CAJPY's EOS R5 digital camera for geospatial information and disaster prevention.
During the fourth quarter, which ended December 31, 2023, CAJPY's net sales increased marginally from the previous year's quarter to ¥1.16 trillion ($7.67 billion). The company's gross profit and <a href="https://www.investopedia.com/terms/o/operating_profit.asp">operating profit</a> grew 5.7% and 19.2% from a year-ago quarter to ¥548.08 billion ($3.61 billion) and ¥115.99 billion ($764.91 million), respectively.
As of December 31, 2023, the company's net cash provided by operating activities amounted to ¥451.19 billion ($2.98 billion), compared to ¥262.60 billion ($1.73 billion) as of December 31, 2022.
For the fiscal year ending December 31, 2024, CAJPY projects net sales of ¥4.35 trillion ($28.69 billion), an operating profit of ¥435 billion ($2.87 billion), and net income attributable to CAJPY of ¥305 billion ($2.01 billion).
Analysts anticipate CAJPY's revenue to increase by 151.9% year-over-year to $28.46 billion for the fiscal year ending December 2024. The stock has gained 32% over the past year and 24.7% over the past six months to close the last trading session at $29.19. Also, it soared marginally intraday.
CAJPY's <a href="https://stocknews.com/powr-ratings/">POWR</a><a href="https://stocknews.com/powr-ratings/"> Ratings</a> reflect its robust prospects. The stock has an overall A rating, translating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted optimally.
The stock has an A grade for Momentum and a B for Value, Stability, and Quality. CAJPY is ranked #5 among 38 stocks within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry.
<a href="https://stocknews.com/stock/CAJPY/">Click here</a> to see CAJPY's ratings for Growth and Sentiment.
Zoom Video Communications, Inc. (<a href="https://stocknews.com/stock/ZM/">ZM</a>)
ZM provides a unified communications platform, including video meetings, phone services, and virtual event solutions, serving diverse industries globally. Its services range from individual users to enterprise-level applications.
On March 25, ZM launched ZM Workplace in AWS Marketplace, offering customers seamless access to Meetings, Team Chat, Phone, Whiteboard, Spaces, Contact Center, and Revenue Accelerator products. This collaboration enhances IT teams' abilities to consolidate technology purchasing, leverage AWS resources, and optimize collaboration and communications in the digital-first era.
On the same day, ZM and Avaya collaborated to improve collaboration for enterprises by integrating ZM Workplace with Avaya's Communication &amp; Collaboration Suite. This partnership enhances user experiences, leveraging ZM's interface while preserving investments in Avaya solutions.
In the fourth quarter, which ended January 31, 2024, ZM's revenue grew 2.6% year-over-year to $1.15 billion. The company's non-GAAP net income and net income per share increased 21.1% and 16.4% from the prior-year quarter to $443.97 million and $1.42, respectively. Also, its non-GAAP free cash flow rose 81.5% from the prior-year quarter to $332.69 million.
As of January 31, 2024, the company's total liabilities amounted to $1.91 billion, compared to $1.92 billion as of January 31, 2023.
For the full fiscal year 2025, the company forecasts its total revenue to reach approximately $4.60 billion. Its non-GAAP income from operations is anticipated to range between $1.72 billion and $1.73 billion, and non-GAAP EPS is projected to fall between $4.85 and $4.88. Furthermore, free cash flow is expected to range between $1.44 billion and $1.48 billion.
Street expects ZM's revenue to grow 2% year-over-year to $4.62 billion for the fiscal year ending January 2025. Its EPS for the same quarter is expected to be $4.89. Additionally, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is promising.
ZM's shares have declined marginally intraday to close the last trading session at $62.94.
ZM's POWR Ratings reflect its sound prospects. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
ZM has a B grade for Growth, Value, and Quality. Within the <a href="https://stocknews.com/category/technology-services/">Technology – Services</a> industry, it is ranked #7 out of 81 stocks.
In addition to the POWR Ratings stated above, one can access ZM's additional Momentum, Stability, and Sentiment ratings <a href="https://stocknews.com/stock/ZM/">here</a>.
Brother Industries, Ltd. (<a href="https://stocknews.com/stock/BRTHY/">BRTHY</a>)
Headquartered in Nagoya, Japan, BRTHY manufactures and sells communication and printing equipment globally, encompassing segments like inkjet printers; industrial sewing machines; and online karaoke systems. Its products cater to a wide range of markets and regions.
On March 18, 2024, BRTHY introduced a diverse product lineup and expanded into renowned anime and manga from Japan at the FESPA Global Print Expo 2024. The exhibition includes garment printers, sewing and embroidery machines, and merchandise featuring characters from notable anime and manga series, showcasing Brother's innovation and versatility in industrial printing.
BRTHY forecasted an annual dividend of ¥68 ($0.448) per common share for the fiscal year ended March 31, 2024. The company pays $0.94 annually, which translates to a yield of 2.55% on the prevailing price level. Its four-year average dividend yield is 2.95%. Moreover, the company boasts a 33-year record for consecutive dividend payments.
BRTHY reported a total revenue of ¥213.13 billion ($1.41 billion) in the third quarter that ended December 31, 2023. The company's gross profit and profit for the period increased 11.4% and 39.3% year-over-year, respectively, to ¥90.79 billion ($598.71 million) and ¥17.71 billion ($116.80 million). Moreover, its EPS grew 39.3% from the year-ago quarter to ¥69.11.
For the fiscal year ending March 31, 2024, the company expects its revenue and operating profit to grow marginally and 26.4% year-over-year to ¥820 billion ($5.41 billion) and ¥70 billion ($461.61 million), respectively.
Analysts expect BRTHY's revenue for the fiscal year ending March 2024 to grow 58% year-over-year to $5.42 billion. Shares of BRTHY have surged 14.3% over the past three months and 33.1% over the past nine months to close the last trading session at $36.97.
BRTHY's POWR Ratings reflect an optimistic outlook. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
The stock has an A grade for Value, Momentum, and Stability and a B for Quality. Within the <a href="https://stocknews.com/category/technology-electronics/">Technology – Electronics</a> industry, it is ranked first among 43 stocks.
For more insights into BRTHY's Growth and Sentiment ratings, click <a href="https://stocknews.com/stock/BRTHY/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
CAJPY shares were trading at $29.30 per share on Monday morning, up $0.11 (+0.36%). Year-to-date, CAJPY has gained 14.45%, versus a 9.47% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/cajpy-zm-brthy-3-tech-stocks-set-to-soar-beyond-expectations/>3 Tech Stocks Set to Soar Beyond Expectations</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Set to Soar Beyond Expectations

Canon: Focus On ROE Target And Buyback Plan

Growing investments in digitization and the adoption of newer technologies are boosting the growth prospects of the technology industry. Therefore, quality tech stocks Canon (CAJPY), TTM Technologies (TTMI), and Universal Electronics (UEIC) could be solid buys now. Read on... The tech sector is expanding and poised for significant growth owing to increased spending on cloud, cybersecurity, software, and IT services. The industry's growth will be driven by continuous innovations in artificial intelligence (AI) and the integration of emerging technologies, promising a bright future for potential investors.
Against this backdrop, investors could consider buying fundamentally robust tech stocks such as Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>), TTM Technologies, Inc. (<a href="https://stocknews.com/stock/TTMI/">TTMI</a>), and Universal Electronics Inc. (<a href="https://stocknews.com/stock/UEIC/">UEIC</a>). Before diving deeper into the fundamentals of these stocks, let's first understand what's shaping the industry's prospects.
According to Gartner, worldwide IT spending is expected to total $5.06 trillion this year, rising <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">8% year-over-year</a>. This is higher than its previous forecast of 6.8% and puts worldwide IT spending on track to surpass $8 trillion before the end of the decade.
An uptick in demand for AI-friendly or IoT-enabled devices such as laptops, tablets, and handhelds are significantly boosting the need for critical electronic components. As consumer spending on technology products and services grows, the demand for advanced electronics will increase. The global electronics market is projected to grow at a <a href="https://www.precedenceresearch.com/electronic-components-market">CAGR of 6.8%</a> to reach $368.40 billion by 2032.
With the rise of new technologies like 5G, the Internet of Things, edge computing, quantum computing, artificial intelligence, etc., the demand for sophisticated hardware to support their highly complex processing needs is growing. The IT Hardware Market is anticipated to hit $191.03 billion by 2029, growing at a <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">7.9% CAGR</a>.
Considering these conducive trends, let's examine the fundamentals of the three featured tech stocks.
Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>)
Headquartered in Tokyo, Japan, CAJPY manufactures and sells office multifunction devices (MFDs), laser and inkjet printers, cameras, medical equipment, and lithography equipment worldwide. The company operates through the Printing Business Unit, Imaging Business Unit, Medical Business Unit, Industrial Business Unit, and Others segments.
CAJPY's trailing-12-month asset turnover ratio of 0.80x is 29.3% higher than the industry average of 0.62x. Its trailing-12-month ROTC and <a href="https://www.investopedia.com/terms/r/return_on_total_assets.asp">ROTA</a> of 6.12% and 4.88% are 151% and 226.9% higher than the industry averages of 2.44% and 1.49%, respectively.
CAJPY's net sales and gross profit for the fiscal first quarter that ended March 31, 2024, increased 1.8% and 5.4% year-over-year to ¥988.52 billion ($6.39 billion) and ¥478.44 billion ($3.09 billion), respectively.
For the same quarter, its income before income taxes and net income attributable to CAJPY stood at ¥89.22 billion ($576.41 million) and ¥59.95 billion ($387.30 million), up 1.9% and 6.3% from the prior-year quarter, respectively.
Street expects CAJPY's revenue for the year ending December 31, 2024, to increase 147.1% year-over-year to $27.92 billion. Over the past year, the stock has gained 28.8% to close the last trading session at $28.73.
CAJPY's robust prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has an A grade for Momentum and a B for Value, Stability, and Quality. It is ranked #7 out of 37 stocks in the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry. <a href="https://stocknews.com/stock/CAJPY/">Click here</a> to see the additional POWR Ratings for CAJPY (Growth and Sentiment).
TTM Technologies, Inc. (<a href="https://stocknews.com/stock/TTMI/">TTMI</a>)
TTMI manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments: PCB and RF&amp;S Components.
TTMI's trailing-12-month CAPEX / Sales of 7.18% is 212.9% higher than the industry average of 2.29%. Similarly, its trailing-12-month EBITDA margin of 12.19% is 27.3% higher than the industry average of 9.57%.
For the fiscal fourth quarter that ended January 1, 2024, TTMI's net sales stood at $569.04 million, and its non-GAAP operating income increased 2.5% from the year-ago quarter to $61.04 million. In addition, its adjusted EBITDA stood at $80.87 million.
For the same quarter, its non-GAAP net income increased marginally year-over-year to $42.97 million, while non-GAAP earnings per share stood at $0.41.
Analysts expect TTMI's revenue and EPS for the quarter ending June 30, 2024, to increase 5.5% and 9.4% year-over-year to $576.43 million and $0.35, respectively. The company surpassed consensus EPS estimates in three of the trailing four quarters, which is impressive.
The stock has gained 23.3% over the past six months to close the last trading session at $14.59.
TTMI's POWR Ratings reflect its positive prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
TTMI has an A grade for Momentum and Sentiment and a B for Growth. Within the <a href="https://stocknews.com/category/technology-electronics/">Technology - Electronics</a> industry, it is ranked #3 out of 42 stocks. To see the additional POWR Ratings of TTMI for Value, Stability, and Quality, <a href="https://stocknews.com/stock/TTMI/">click here</a>.
Universal Electronics Inc. (<a href="https://stocknews.com/stock/UEIC/">UEIC</a>)
UEIC designs, develops, manufactures, ships, and supports control and sensor technology solutions in the U.S., the People's Republic of China, the rest of Asia, Europe, Latin America, and internationally.
On January 11, UEIC announced the release of its latest QuickSet solution, expanding content discovery, control, and interaction across millions of devices and households.
The newest release of QuickSet expanded functionality for entertainment and whole-home audio use cases to provide deeper device and content history across an ever-increasing landscape of devices and services at home.
UEIC's trailing-12-month levered FCF margin of 8.06% is 49.7% higher than the industry average of 5.38%.
UEIC's net sales and adjusted gross profit for the fiscal fourth quarter that ended December 31, 2023, stood at $97.59 million and $29.47 million, respectively. For the same quarter, its adjusted net income and earnings per share stood at $918 thousand and $0.07, respectively.
As of December 31, 2023, UEIC's total current liabilities amounted to $161.15 million, compared to $216.47 million as of December 31, 2022.
For the quarter ending September 30, 2024, UEIC's revenue and EPS are expected to increase 3.6% and 237.5% year-over-year to $110.92 million and $0.27, respectively. The company surpassed consensus EPS estimates in each of the trailing four quarters.
The stock has gained 18.2% over the past six months, closing the last trading session at $9.74.
UEIC's POWR Ratings reflect this promising outlook. It has an overall rating of B, equating to Buy in our proprietary rating system.
UEIC has a B grade for Value and Sentiment. Within the Technology - Electronics industry, it is ranked #4. To see UEIC's Growth, Momentum, Stability, and Quality ratings, <a href="https://stocknews.com/stock/UEIC/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CAJPY shares were unchanged in premarket trading Wednesday. Year-to-date, CAJPY has gained 12.23%, versus a 6.79% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/cajpy-ttmi-ueic-3-tech-stocks-to-buy-now-outperforming-market/>3 Tech Stocks to Buy NOW Outperforming Market</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks to Buy NOW Outperforming Market

Growing investments in digitization and the adoption of newer technologies are boosting the growth prospects of the technology industry. Therefore, quality tech stocks Canon (CAJPY), TTM Technologies (TTMI), and Universal Electronics (UEIC) could be solid buys now. Read on... The tech sector is expanding and poised for significant growth owing to increased spending on cloud, cybersecurity, software, and IT services. The industry's growth will be driven by continuous innovations in artificial intelligence (AI) and the integration of emerging technologies, promising a bright future for potential investors.
Against this backdrop, investors could consider buying fundamentally robust tech stocks such as Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>), TTM Technologies, Inc. (<a href="https://stocknews.com/stock/TTMI/">TTMI</a>), and Universal Electronics Inc. (<a href="https://stocknews.com/stock/UEIC/">UEIC</a>). Before diving deeper into the fundamentals of these stocks, let's first understand what's shaping the industry's prospects.
According to Gartner, worldwide IT spending is expected to total $5.06 trillion this year, rising <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">8% year-over-year</a>. This is higher than its previous forecast of 6.8% and puts worldwide IT spending on track to surpass $8 trillion before the end of the decade.
An uptick in demand for AI-friendly or IoT-enabled devices such as laptops, tablets, and handhelds are significantly boosting the need for critical electronic components. As consumer spending on technology products and services grows, the demand for advanced electronics will increase. The global electronics market is projected to grow at a <a href="https://www.precedenceresearch.com/electronic-components-market">CAGR of 6.8%</a> to reach $368.40 billion by 2032.
With the rise of new technologies like 5G, the Internet of Things, edge computing, quantum computing, artificial intelligence, etc., the demand for sophisticated hardware to support their highly complex processing needs is growing. The IT Hardware Market is anticipated to hit $191.03 billion by 2029, growing at a <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">7.9% CAGR</a>.
Considering these conducive trends, let's examine the fundamentals of the three featured tech stocks.
Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>)
Headquartered in Tokyo, Japan, CAJPY manufactures and sells office multifunction devices (MFDs), laser and inkjet printers, cameras, medical equipment, and lithography equipment worldwide. The company operates through the Printing Business Unit, Imaging Business Unit, Medical Business Unit, Industrial Business Unit, and Others segments.
CAJPY's trailing-12-month asset turnover ratio of 0.80x is 29.3% higher than the industry average of 0.62x. Its trailing-12-month ROTC and <a href="https://www.investopedia.com/terms/r/return_on_total_assets.asp">ROTA</a> of 6.12% and 4.88% are 151% and 226.9% higher than the industry averages of 2.44% and 1.49%, respectively.
CAJPY's net sales and gross profit for the fiscal first quarter that ended March 31, 2024, increased 1.8% and 5.4% year-over-year to ¥988.52 billion ($6.39 billion) and ¥478.44 billion ($3.09 billion), respectively.
For the same quarter, its income before income taxes and net income attributable to CAJPY stood at ¥89.22 billion ($576.41 million) and ¥59.95 billion ($387.30 million), up 1.9% and 6.3% from the prior-year quarter, respectively.
Street expects CAJPY's revenue for the year ending December 31, 2024, to increase 147.1% year-over-year to $27.92 billion. Over the past year, the stock has gained 28.8% to close the last trading session at $28.73.
CAJPY's robust prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has an A grade for Momentum and a B for Value, Stability, and Quality. It is ranked #7 out of 37 stocks in the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry. <a href="https://stocknews.com/stock/CAJPY/">Click here</a> to see the additional POWR Ratings for CAJPY (Growth and Sentiment).
TTM Technologies, Inc. (<a href="https://stocknews.com/stock/TTMI/">TTMI</a>)
TTMI manufactures and sells mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB) worldwide. The company operates in two segments: PCB and RF&amp;S Components.
TTMI's trailing-12-month CAPEX / Sales of 7.18% is 212.9% higher than the industry average of 2.29%. Similarly, its trailing-12-month EBITDA margin of 12.19% is 27.3% higher than the industry average of 9.57%.
For the fiscal fourth quarter that ended January 1, 2024, TTMI's net sales stood at $569.04 million, and its non-GAAP operating income increased 2.5% from the year-ago quarter to $61.04 million. In addition, its adjusted EBITDA stood at $80.87 million.
For the same quarter, its non-GAAP net income increased marginally year-over-year to $42.97 million, while non-GAAP earnings per share stood at $0.41.
Analysts expect TTMI's revenue and EPS for the quarter ending June 30, 2024, to increase 5.5% and 9.4% year-over-year to $576.43 million and $0.35, respectively. The company surpassed consensus EPS estimates in three of the trailing four quarters, which is impressive.
The stock has gained 23.3% over the past six months to close the last trading session at $14.59.
TTMI's POWR Ratings reflect its positive prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
TTMI has an A grade for Momentum and Sentiment and a B for Growth. Within the <a href="https://stocknews.com/category/technology-electronics/">Technology - Electronics</a> industry, it is ranked #3 out of 42 stocks. To see the additional POWR Ratings of TTMI for Value, Stability, and Quality, <a href="https://stocknews.com/stock/TTMI/">click here</a>.
Universal Electronics Inc. (<a href="https://stocknews.com/stock/UEIC/">UEIC</a>)
UEIC designs, develops, manufactures, ships, and supports control and sensor technology solutions in the U.S., the People's Republic of China, the rest of Asia, Europe, Latin America, and internationally.
On January 11, UEIC announced the release of its latest QuickSet solution, expanding content discovery, control, and interaction across millions of devices and households.
The newest release of QuickSet expanded functionality for entertainment and whole-home audio use cases to provide deeper device and content history across an ever-increasing landscape of devices and services at home.
UEIC's trailing-12-month levered FCF margin of 8.06% is 49.7% higher than the industry average of 5.38%.
UEIC's net sales and adjusted gross profit for the fiscal fourth quarter that ended December 31, 2023, stood at $97.59 million and $29.47 million, respectively. For the same quarter, its adjusted net income and earnings per share stood at $918 thousand and $0.07, respectively.
As of December 31, 2023, UEIC's total current liabilities amounted to $161.15 million, compared to $216.47 million as of December 31, 2022.
For the quarter ending September 30, 2024, UEIC's revenue and EPS are expected to increase 3.6% and 237.5% year-over-year to $110.92 million and $0.27, respectively. The company surpassed consensus EPS estimates in each of the trailing four quarters.
The stock has gained 18.2% over the past six months, closing the last trading session at $9.74.
UEIC's POWR Ratings reflect this promising outlook. It has an overall rating of B, equating to Buy in our proprietary rating system.
UEIC has a B grade for Value and Sentiment. Within the Technology - Electronics industry, it is ranked #4. To see UEIC's Growth, Momentum, Stability, and Quality ratings, <a href="https://stocknews.com/stock/UEIC/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CAJPY shares were unchanged in premarket trading Wednesday. Year-to-date, CAJPY has gained 12.23%, versus a 6.79% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/cajpy-ttmi-ueic-3-tech-stocks-to-buy-now-outperforming-market/>3 Tech Stocks to Buy NOW Outperforming Market Expectations</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks to Buy NOW Outperforming Market Expectations

Growing digitization trends and the adoption of emerging technologies are driving up demand for advanced hardware. Therefore, investors could consider buying fundamentally strong tech stocks such as Canon (CAJPY), Lantronix (LTRX), and AstroNova (ALOT), as they are well-positioned to continue their momentum. Read on... Driven by the growing use of emerging technologies, businesses invest in cutting-edge hardware solutions to stay efficient and competitive in today's digital age.
Therefore, investors could consider buying fundamentally strong tech stocks such as Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>), Lantronix, Inc. (<a href="https://stocknews.com/stock/LTRX/">LTRX</a>), and AstroNova, Inc. (<a href="https://stocknews.com/stock/ALOT/">ALOT</a>). These stocks have been showing strong momentum lately and will likely maintain the same in the near term. Before exploring the fundamentals of these stocks, let's discuss why the tech industry is well-positioned for growth.
The technology industry continually evolves, demanding innovative hardware solutions to ensure seamless software applications. Gartner expects worldwide IT spending to rise <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">8% year-over-year</a> to $5.06 trillion in 2024. Spending on devices is expected to increase by 3.6% year-over-year to $687.94 billion this year.
Additionally, cutting-edge hardware is highly demanded to assure software performance and manage data-intensive tasks. This need has resulted in technological breakthroughs such as faster processors, larger storage capacities, and enhanced networking capabilities. The IT hardware market is projected to grow at a <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">CAGR of 7.9%</a> to reach $191.03 billion by 2029.
Investors' interest in tech stocks is evident from the iShares Expanded Tech Sector ETF's (<a href="https://stocknews.com/stock/IGM/">IGM</a>) 48.7% returns over the past year.
Considering these conducive trends, let's examine the fundamentals of the three best <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> stocks, starting with the third choice.
Stock #3: Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>)
Headquartered in Tokyo, Japan, CAJPY is a multinational company specializing in a diverse range of products, including office multifunction devices, printers, cameras, medical equipment, and lithography equipment. It operates through several business units, including Printing, Imaging, Medical, Industrial, and others.
In terms of the trailing-12-month net income margin, CAJPY's 6.38% is 137.3% higher than the 2.69% industry average. Likewise, its 8.16% trailing-12-month Return on Common Equity is 157.8% higher than the 3.17% industry average. Additionally, its 4.67% trailing-12-month <a href="https://www.investopedia.com/terms/r/return_on_total_assets.asp">Return on Total Assets</a> is 245.2% higher than the industry average of 1.35%.
For the fiscal first quarter, which ended March 31, 2024, CAJPY's net sales increased marginally from the previous year's quarter to ¥988.52 billion ($6.35 billion). The company's net income and earnings per share grew 6.3% and 9.3% from a year-ago quarter to ¥59.95 billion ($385.23 million) and ¥60.67, respectively.
As of March 31, 2024, the company's total assets amounted to ¥5.74 trillion ($36.89 billion), compared to ¥5.42 trillion ($34.81 billion) as of December 31, 2023.
CAJPY's fiscal 2024 revenue is expected to increase 146.3% year-over-year to $27.83 billion. Over the past year, the stock has gained 25.1% to close the last trading session at $27.66.
CAJPY's stock is trading above its 100-day and 200-day moving averages of $27.54 and $26.16, respectively, indicating an uptrend.
CAJPY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
CAJPY has an A grade for Momentum and a B for Value, Stability, and Quality. Within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry, it is ranked #7 out of 37 stocks. To see CAJPY's Growth and Sentiment ratings, <a href="https://stocknews.com/stock/CAJPY/">click here</a>.
Stock #2: Lantronix, Inc. (<a href="https://stocknews.com/stock/LTRX/">LTRX</a>)
LTRX offers solutions for video surveillance, infotainment systems, and intelligent substations infrastructure internationally. The company's IoT products include IoT System Solutions, Embedded IoT Modules, and Software and Engineering Services. It also offers telematics devices, which provide power-efficient products.
LTRX's trailing-12-month levered FCF margin of 16.80% is 78.7% higher than the industry average of 9.40%. Its trailing-12-month asset turnover ratio of 0.92x is 50.5% higher than the industry average of 0.61x.
During the fiscal second quarter ended on December 31, 2023, LTRX's net revenue increased 17.5% year-over-year to $37.04 million. Its gross profit rose 9% from the year-ago value to $15.03 million. In addition, the company's non-GAAP net income amounted to $2.96 million and $0.08, representing increases of 115.4% and 100% year-over-year, respectively.
Analysts expect LTRX's revenue and EPS for the quarter ended March 31, 2024, to increase 22% and 63.3% year-over-year to $40.22 million and $0.10, respectively. Over the past month, the stock has declined 9% to close the last trading session at $3.23.
It's no surprise that LTRX has an overall A rating, equating to a Strong Buy in our POWR Ratings system.
It has an A grade for Growth and Momentum and a B for Value, Sentiment, and Quality. It is ranked #3 in the same industry. Beyond what is stated above, we've also rated LTRX for Stability. Get all LTRX ratings <a href="https://stocknews.com/stock/LTRX/">here</a>.
Stock #1: AstroNova, Inc. (<a href="https://stocknews.com/stock/ALOT/">ALOT</a>)
ALOT designs, develops, manufactures, and distributes specialty printers alongside data acquisition and analysis systems internationally. The company operates through two segments: Product Identification (PI) and Test &amp; Measurement (T&amp;M). It offers its products under the QuickLabel, TrojanLabel, and GetLabels brands.
In terms of the trailing-12-month Return on Total Assets, ALOT's 3.52% is 160.5% higher than the 1.35% industry average. Likewise, its 6.24% trailing-12-month Return on Total Capital is 174.8% higher than the 2.27% industry average. Also, its 10.56% trailing-12-month EBITDA margin is 10.2% higher than the 9.58% industry average.
ALOT's net revenue for the fourth quarter, which ended January 31, 2024, came in at $39.59 million. Its non-GAAP gross profit grew 6.9% year-over-year to $14.50 million. The company's non-GAAP operating income of $3.63 million indicates growth of 73.1% from the prior year's quarter.
Furthermore, the company's non-GAAP net income and non-GAAP EPS came in at $2.49 million and $0.33, up 82.8% and 83.3% year-over-year, respectively. Its adjusted EBITDA increased 40.5% year-over-year to $5.52 million.
Over the past six months, the stock has gained 42.4% to close the last trading session at $17.44. ALOT's stock is trading above its 50-day and 200-day moving averages of $17.42 and $15.31, respectively, indicating an uptrend.
ALOT's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
It has a B grade for Growth, Value, Stability, and Sentiment. It is ranked first in the B-rated Technology – Hardware industry. <a href="https://stocknews.com/stock/ALOT/">Click here</a> to see ALOT's Momentum and Quality ratings.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
CAJPY shares were trading at $26.04 per share on Thursday morning, down $1.62 (-5.86%). Year-to-date, CAJPY has gained 1.72%, versus a 5.43% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rashmi Kumari</h2> <img src='https:/wp-content/uploads/2022/10/Rashmi-Kumari_headshot_2-1.jpg' style="float:left; padding:5px;width:125px;">Rashmi is passionate about capital markets, wealth management, and financial regulatory issues, which led her to pursue a career as an investment analyst. With a master's degree in commerce, she aspires to make complex financial matters understandable for individual investors and help them make appropriate investment decisions.<a href="https://stocknews.com/authors/?author=rashmi-kumari">More...</a>The post <a href=https://stocknews.com/news/cajpy-alot-ltrx-3-tech-stocks-lighting-up-wall-street-with-bullish-momentum/>3 Tech Stocks Lighting up Wall Street With Bullish Momentum</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Lighting up Wall Street With Bullish Momentum

Extreme UV Is The Future For Chips, ASML Holding Has A Monopoly

The technology hardware market is experiencing significant growth thanks to growing IT spending, the adoption of new cutting-edge technologies, and increasing reliance on digital technologies. Therefore, investors could consider buying quality tech stocks Nidec (NJDCY), Lenovo Group (LNVGY), and Canon (CAJPY) for solid gains. Read on... The tech industry's growth is driven by the digitization of various sectors and the ever-rising dependence on digital solutions. These factors have been a significant growth driver for advanced hardware solutions. With the adoption of newer, more advanced technologies and workloads becoming heavier, the demand for cutting-edge hardware is expected to grow significantly.
Against this backdrop, investors could consider buying fundamentally strong tech stocks such as Nidec Corporation (<a href="https://stocknews.com/stock/NJDCY/">NJDCY</a>), Lenovo Group Limited (<a href="https://stocknews.com/stock/LNVGY/">LNVGY</a>), and Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>) to satisfy their thirst for gains. Before diving deeper into the fundamentals of these stocks, let's first understand what's shaping the tech industry's prospects.
Gartner's recent forecast predicts global IT spending to reach $5.06 trillion in 2024, representing an <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">8% uptick</a> from the previous year. This new estimate is higher than its earlier estimate of 6.8%. The forecast suggests that worldwide IT spending is on track to exceed $8 trillion well before the end of the decade. Gartner expects device spending to rise 3.6% year-over-year to $687.94 billion.
Businesses belonging to various sectors have started digitizing their operations to enhance delivery and improve efficiency, thereby contributing to the growth of the IT hardware market.
With GenAI's immense popularity and potential, individuals and businesses want to employ it in daily operations. To train large language models (LLMs), one requires considerable computational resources for training and inference, thus driving the demand for high-performance hardware, such as CPUs, GPUs, etc.
Moreover, the evolution of new technologies like 5G, the Internet of Things, and edge computing has fueled the demand for cutting-edge hardware to support their highly complex processing needs.
Furthermore, the demand for new hardware devices has increased rapidly, owing to the declining average lifespan of devices and new features in hardware tools that encourage consumers to stay updated with the ongoing trends. The IT Hardware Market is projected to reach $191.03 billion by 2029, growing at a <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">7.9% CAGR</a>.
Considering these conducive trends, let's examine the fundamentals of the three featured <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> stocks, beginning with the third choice.
Stock #3: Nidec Corporation (<a href="https://stocknews.com/stock/NJDCY/">NJDCY</a>)
Headquartered in Kyoto, Japan, NJDCY develops, manufactures, and sells motors, electronics and, optical components, and other related products in Japan and internationally.
In terms of forward EV/Sales, NJDCY is trading at 1.77x, 1.2% lower than the industry average of 1.79x. The stock's trailing-12-month <a href="https://www.investopedia.com/terms/p/price-to-bookratio.asp">Price/Book</a> of 2.44x is 11.6% lower than the industry average of 2.76x.
NJDCY's net sales and gross profit for the fiscal year that ended March 31, 2024, increased 4.7% and 20.4% over the prior-year quarter to ¥2.35 trillion ($15.20 billion) and ¥497.61 billion ($3.22 billion), respectively.
For the same year, its profit attributable to owners of the parent and earnings per share attributable to owners of the parent stood at ¥125.39 billion ($811.54 million) and ¥218.22, up 178.9% and 179.3% year-over-year, respectively.
For the quarter ending September 30, 2024, NJDCY's revenue is expected to increase 1.3% year-over-year to $4.03 billion. Its EPS for fiscal 2025 is expected to increase 62.2% year-over-year to $0.57. It surpassed consensus revenue estimates in each of the trailing four quarters. The stock has gained 24.3% over the past three months to close the last trading session at $11.49.
NJDCY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its positive prospects. It has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
NJDCY has an A grade for Stability and a B for Value and Quality. Within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry, it is ranked #15 out of 37 stocks. <a href="https://stocknews.com/stock/NJDCY/">Click here</a> for the additional POWR Ratings for NJDCY (Growth, Momentum, and Sentiment).
Stock #2: Lenovo Group Limited (<a href="https://stocknews.com/stock/LNVGY/">LNVGY</a>)
Headquartered in Quarry Bay, Hong Kong, LNVGY develops, manufactures, and markets technology products and services. It operates through the segments of Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group.
In terms of forward EV/EBITDA, LNVGY is trading at 5.57x, 63.1% lower than the industry average of 15.10x. The stock's forward Price/Sales of 0.27x is 90.6% lower than the industry average of 2.83x. Similarly, its forward EV/Sales is trading at 0.29x, 89.7% lower than the industry average of 2.84x.
On May 2, 2024, LNVGY launched its new AI-based Cyber Resiliency as a Service (CRaaS), leveraging Lenovo device telemetry and Microsoft security software solutions to offer comprehensive cyber protection, detection, response, and recovery for businesses. This addresses growing security concerns and aids business continuity.
For the fiscal third quarter that ended December 31, 2023, LNVGY's revenue increased 3% year-over-year to $15.72 billion. Its gross profit stood at $2.60 billion. For the same quarter, its non-HKFRS profit attributable to equity shareholders and EPS stood at $357 million and 2.64 cents, respectively.
Analysts expect LNVGY's revenue for the quarter that ended March 31, 2024, to increase 4.2% year-over-year to $13.16 billion. Its EPS for the year ending March 31, 2025, is expected to grow 38.3% year-over-year to $1.94. The company surpassed Street revenue estimates in three of the trailing four quarters. Over the past year, the stock has gained 17.8%, closing the last trading session at $24.04.
LNVGY's POWR Ratings reflect this promising outlook. It has an overall rating of B, equating to Buy in our proprietary rating system.
LNVGY has an A grade for Value and a B for Momentum. It is ranked #14 in the same industry. Beyond what we stated above, we have also given LNVGY grades for Growth, Stability, Sentiment, and Quality. Get all the LNVGY ratings <a href="https://stocknews.com/stock/LNVGY/">here</a>.
Stock #1: Canon Inc. (<a href="https://stocknews.com/stock/CAJPY/">CAJPY</a>)
Headquartered in Tokyo, Japan, CAJPY manufactures and sells office multifunction devices (MFDs), laser and inkjet printers, cameras, medical equipment, and lithography equipment worldwide. The company operates through the Printing Business Unit, Imaging Business Unit, Medical Business Unit, Industrial Business Unit, and Others segments.
In terms of forward EV/Sales, CAJPY is trading at 1.08x, 62.1% lower than the industry average of 2.84x. The stock's forward Price/Sales of 0.97x is 65.8% lower than the industry average of 2.83x. Similarly, its forward EV/EBIT is trading at 8.95x, 57.1% lower than the industry average of 20.84x.
CAJPY's net sales for the fiscal first quarter that ended March 31, 2024, increased 1.8% over the year-ago value to ¥988.52 billion ($6.40 billion). Its gross profit rose 5.4% year-over-year to ¥478.44 billion ($3.10 billion).
Moreover, its net income attributable to CAJPY stood at ¥59.95 billion ($388 million), up 6.3% over the prior-year quarter. Also, its net income attributable to CAJPY shareholders per share grew 9.3% year-over-year to ¥60.67.
Street expects CAJPY's revenue for the quarter ending September 30, 2024, to increase 2% year-over-year to $6.95 billion. CAJPY's stock has gained 17.6% over the past year to close the last trading session at $27.93.
CAJPY's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to Buy in our proprietary rating system.
It has a B grade for Value, Momentum, Stability, and Quality. It is ranked #10 in the Technology - Hardware industry. In total, we rate CAJPY on eight different levels. Too see CAJPY's Growth and Sentiment ratings <a href="https://stocknews.com/stock/CAJPY/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
CAJPY shares were trading at $27.77 per share on Wednesday morning, down $0.16 (-0.57%). Year-to-date, CAJPY has gained 8.48%, versus a 9.06% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/cajpy-njdcy-lnvgy-3-tech-stocks-to-satisfy-your-thirst-for-gains/>3 Tech Stocks to Satisfy Your Thirst for Gains</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks to Satisfy Your Thirst for Gains

Canon: 'Hold'ing Was The Right Choice

Notable earnings before Thursday's open

Canon GAAP EPS of ¥91.83, revenue of ¥1167.79B; raises FY24 outlook

ALOT

AMBP

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ASML

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CBRE

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UEIC

Canon

Canon Q4 Sales ¥1.163T Up From ¥1.157T YoY; Net Income ¥80.57B Down From ¥84.84B YoY

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Tuesday, January 30, 2024