| | | Good morning. It’s January 8th, and today we’ll look at Albertsons, IonQ, Acuity Brands, and a tiny biotech stock that’s tripled itself in premarket trade. | |
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| | | | | What to Watch | Earnings Calendar: | Albertsons Companies [ACI]: Premarket Acuity Brands [AYI]: Premarket MSC Industrial Direct Company [MSM]: Premarket UniFirst [UNF]: Premarket Jefferies Financial Group [JEF]: Aftermarket Pricesmart [PSMT]: Aftermarket | Economic Reports: | ADP Employment [Dec]: 8:15 a.m. Initial Jobless Claims [Jan]: 8:30 a.m. Wholesale Inventories [Nov]: 10:00 a.m. Consumer Credit [Dec]: 3:00 p.m. |
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| | Retail | Albertsons Adjusts Sales Outlook, Raises Profit Guidance | | Albertsons Companies’ (ACI) third-quarter revenue is below estimates and the firm lowered its annual sales forecast today, citing heightened competition from major players like Walmart and Kroger offering deep discounts. | The company now anticipates identical sales growth for 2024 in the range of 1.8% to 2.0%, down from its prior projection of up to 2.2%. | Net sales for the quarter are up slightly at $18.78 billion, compared to $18.56 billion in the same period last year, but are short of analysts’ expectations of $18.82 billion. | Despite the sales miss, Albertsons is increasing its annual adjusted profit forecast to $2.25 to $2.31 per share, up from $2.20 to $2.30, buoying its shares by 2% in premarket trading. | This earnings report marks the company’s first post-earnings call in over two years, following the collapse of its $25 billion merger with Kroger. Albertsons has since filed a lawsuit against Kroger over the deal’s termination. | As the company navigates a challenging grocery market, analysts and investors remain focused on Albertsons’ plans to rebuild and compete, especially during a holiday season characterized by early and aggressive discounting across the retail sector. |
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| | Technology | Quantum Stocks Fall After NVIDIA CEO’s 20-Year Timeline Prediction | | Shares of quantum computing firms are down in premarket trading today after Nvidia CEO Jensen Huang tempered expectations about the technology's near-term utility. | During Nvidia’s analyst day, Huang estimated that "very useful" quantum computers are likely 15 to 30 years away. He suggested 20 years as a reasonable midpoint for significant advancements. | The remarks are sending shares of IonQ Inc., Quantum Computing Inc., D-Wave Quantum Inc., and Rigetti Computing Inc. down by 14% or more. These companies had previously seen dramatic gains, with Quantum Computing shares rising more than 1,800% in the past year and Rigetti climbing over 1,500%. | The sector’s excitement has been fueled by recent breakthroughs, including one from Alphabet Inc. last month. However, Huang’s cautionary tone dampened investor sentiment, as the timeline for practical quantum computing appears longer than anticipated. | The ripple effect was also felt in China, where shares of QuantumCTek Co. Ltd. and Accelink Technologies Co. Ltd. fell sharply. Alphabet, which enjoyed a 12% rally in December, slipped 0.3% in premarket trading. | Huang’s comments highlight the immense potential of quantum computing but underscore the challenges in achieving its practical application within the near future. |
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| | Lighting and Building Management | Acuity Brands Delivers Solid Q1 Performance and Strategic Expansion | | Acuity Brands (NYSE: AYI) reported robust first-quarter fiscal 2025 results, showing 1.8% sales growth year-over-year to $951.6 million. | The company’s operating profit is at $133.3 million, with adjusted operating profit increasing 3.1% to $158.7 million. Adjusted diluted earnings per share are at $3.97, a 6.7% rise, while diluted EPS climbed 4.4% to $3.35. | The company’s Lighting segment contributed $886 million in sales, while the Intelligent Spaces segment saw significant 14.5% growth, reaching $73.5 million. | Following the quarter’s close, Acuity completed its $1.215 billion acquisition of QSC. This strategic move enhances Acuity’s cloud-enabled capabilities in audio, video, and control technologies, strengthening its Intelligent Spaces portfolio. | Acuity also continued its share repurchase efforts, buying back approximately 17,000 shares worth $5 million during the quarter. Shares in the firm are showing modest gains during premarket trade today. |
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| | Movers and Shakers | | Sana Biotechnology, Inc. [SANA] - Last Close: $1.65 | Sana Biotechnology (SANA) is a clinical-stage company specializing in engineered cell therapies aimed at treating various diseases. | The company announced yesterday positive data from a study involving its treatment for type 1 diabetes, UP421, which has caused its shares to spike by more than 200% in premarket trade today. | My Take: Sana Biotechnology has reported consistent net losses and it also has a high cash burn rate. It might be wise to wait and watch before investing here. |
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| Currenc Group Inc. [CURR] - Last Close: $1.39 | Currenc Group Inc. (CURR) is a fintech company specializing in digital remittance services across Southeast Asia and other regions. | The company has launched SEAMLESS AI Call Centre Solutions, a suite of AI-powered tools for financial institutions and related enterprises. This has led to a 160% surge in its stock price before the opening bell today. | My Take: The company barely broke even last year, and its stock is down 88% in the last year. Despite the promising new AI solution, it would be wise to hedge your bets when investing here. |
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| Absci Corporation [ABSI] - Last Close: $3.07 | Absci Corporation (ABSI) is a generative AI drug creation company that integrates artificial intelligence with scalable wet lab technologies to expedite biologic drug development. | The company has garnered attention today due to a $20 million investment from AMD aimed at deploying AMD's AI hardware and software solutions to enhance Absci's AI-driven drug discovery processes. Its shares are up 36% in premarket trade. | My Take: The company has consistently reported net losses in the past, so despite the new investment it might be best to wait and watch how things progress for now. |
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| | Everything Else | Nvidia’s CEO outlined an AI-driven future, but its stock is sliding due to the lack of near-term gains. Micron's new $7 billion Singapore plant positions it in the high-bandwidth memory market. President-elect Trump is reportedly exploring emergency powers for the universal tariff program. Apple’s AirTag factory offer fails to meet Indonesia’s domestic content rules. DAMAC’s Sajwani will partner with Trump for a $20 billion U.S. data center expansion. Paysafe boosts its Latin American presence with a new license for Brazil’s online betting industry. |
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| | That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. | Best Regards, | — Adam Garcia
Elite Trade Club |
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