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Top 5 Trending Stock Ideas ๐ฐ ๐จ
Week of July 16th
Hereโs this weekโs list of top trending stocks, major news events, and trade ideas compiled by the Uptrends.ai news sentiment model:
1. QuantumScape (QS)
Summary: This week, QuantumScape signed an agreement with Volkswagen's battery subsidiary, PowerCo, to license its battery technology for mass production upon satisfactory "technical progress and royalty payments." Under the deal, PowerCo can manufacture cells up to 40 gigawatt-hours (GWh) annually on QuantumScape's technology with an option to expand up to 80 GWh, enough to power nearly 1 million EVs.
๐๏ธ Alert Date: July 12th
๐ข Alert Sentiment: Bullish
๐จ 7D Alert Price Change: +59% โฒ
2. Macyโs (M)
Summary: Macy's is terminating buyout talks with Arkhouse and Brigade, citing the lack of certainty over financing. Takeover talks have been ongoing for months. In March Arkhouse Management and Brigade Capital Management raised their offer to acquire Macyโs in a deal then valued at $6.6 billion, or $24 per share cash, up from a earlier offer of $21 per share. Macy's said Monday it will focus on its own turnaround efforts. That previously unveiled plan includes closing 150 Macy's stores over the next three years and upgrading the remaining 350 stores.
๐๏ธ Alert Date: July 15th
๐ด Alert Sentiment: Bearish
๐จ 7D Alert Price Change: -11% โผ
3. Applied Industrial Tech (AIT)
Summary: Applied Industrial (AIT) is expected to see a 9.9% year-over-year growth in earnings for 2024, with a consensus estimate of $9.62 per share. The company has an average trailing four-quarter earnings surprise of 8.2%. Despite a slower quarter with a miss on analysts' estimates, AIT remains a strong performer in the engineered components and systems industry. Following earnings Appliedโs President & Chief Executive Officer, commented, โThird quarter sales exceeded our expectations with the year-over-year trend gradually improving as the quarter progressed...โ
๐๏ธ Alert Date: July 11th
๐ข Alert Sentiment: Bullish
๐จ 7D Alert Price Change: +7% โฒ
4. Domo (DOMO)
Summary: Domo (DOMO) has risen more than 7% this week after the company was recognized as a B2B Program of the Year at this yearโs Forrester B2B Summit for improving functional performance in engagement. The company was set apart for its ability to cultivate a user community, Domo Central, that transformed customer relationships through strategic community engagements. The company was also recently named a Nucleus ROI Award winner, compounding recent investor excitement.
๐๏ธ Alert Date: June 10th
๐ข Alert Sentiment: Bullish
๐จ 7D Alert Price Change: +7% โฒ
5. Rivian (RIVN)
Summary: Rivian Automotive (RIVN) has received positive feedback for its R1T model, which continues to impress consumers. The introduction of new premium trims and improvements in power and performance could help Rivian achieve gross profitability. Rivian Automotive (RIVN) has a good product roadmap with its lower-cost R2 in 1H26E, and the balance sheet looks more solid with liquidity risk vanishing.
๐๏ธ Alert Date: June 11th
๐ข Alert Sentiment: Bullish
๐จ 7D Alert Price Change: +4% โฒ
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