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Top 10 Market Movers: November 12
Analysis of top 10 market movers, including Home Depot, Honeywell, and tech giants, along with investment strategies and stock ratings.
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Home DepotHoneywellElliott Investment ManagementAlphabetMeta Platforms
Jim CramerDonald Trump
- What caused a significant jump in Honeywell's stock price?
- Honeywell's stock surged after Bloomberg reported that Elliott Investment Management acquired a stake worth over $5 billion, aiming for a company breakup.
- What is the current state of Wall Street following the post-election rally?
- Wall Street paused after a post-election rally, with the Dow, S&P 500, and Nasdaq reaching record highs. The longevity of this "Trump trade" will be discussed at a November meeting.
- Which companies were identified as having potentially undervalued earnings power?
- MoffettNathanson highlighted the undervalued earnings potential of Alphabet and Meta Platforms, excluding their respective "other bets" and Reality Labs units, noting their low price-to-earnings ratios.
- How did Home Depot perform in its latest quarter, and what was the market reaction?
- Home Depot exceeded expectations with EPS of $3.78 and revenue of $40.22 billion, despite a smaller-than-anticipated decline in same-store sales. The company raised its full-year outlook, boosting its stock price.
- What actions did Bank of America and Wells Fargo analysts take regarding certain stocks?
- Bank of America added Wells Fargo to its "US 1" buy-rated list; Wells Fargo's stock has risen since the presidential election, trading near all-time highs. Salesforce's price target was raised by Wells Fargo analysts, but its rating remained unchanged.