Tech Stocks Rally: Microstrategy Leads with 8.96% Surge; ICICI, Coinbase, Trip.com Follow Suit
Monday, Oct 28, 2024 6:30 pm ET
1min read 1. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated surged by 8.96%. Microstrategy is set to report its Q3 2024 financial results on October 30. BTIG, Benchmark, and Barclays maintain Buy ratings with price targets of $240, $245, and $225, respectively, while Bernstein rates it Outperform with a target of $290.
2. Icici Bank Limited (NYSE: IBN)
Icici Bank Limited gained solidly by 5.61%. ICICI Bank reported its Second Quarter fiscal 2024 results on October 25, 2023, and will report its Third Quarter financial results on January 19, 2024. Temasek increased its investment in tech stocks like Google and Nvidia by over $30 billion in Q2.
3. Coinbase Global (Nasdaq: COIN)
Coinbase Global gained solidly by 5.39%. Coinbase Global will report Q3 2024 financial results on October 30. Monness, Crespi, Hardt rated it "Buy" with a $245 target. B. Riley Securities started coverage with a "Neutral" rating and a $185 target. Several insiders sold shares in mid-October.
4. Trip Group Limited (Nasdaq: TCOM)
Trip Group Limited gained solidly by 5.21%. Trip.com Group reports a 38% year-on-year increase in outbound business travel companies as China's global business travel accelerates in 2024. CEO Liang Jianzhang emphasizes the ultimate goal of travel is the long-term prosperity of human civilization.
5. Nucor (NYSE: NUE)
Nucor gained solidly by 4.45%. Nucor Corporation's Q3 2024 net sales were $7.44 billion, exceeding expectations, with adjusted EPS at $1.49. JP Morgan and Morgan Stanley both maintain an overweight rating on Nucor, with price targets of $168 and $166, respectively.
Microstrategy Incorporated surged by 8.96%. Microstrategy is set to report its Q3 2024 financial results on October 30. BTIG, Benchmark, and Barclays maintain Buy ratings with price targets of $240, $245, and $225, respectively, while Bernstein rates it Outperform with a target of $290.
2. Icici Bank Limited (NYSE: IBN)
Icici Bank Limited gained solidly by 5.61%. ICICI Bank reported its Second Quarter fiscal 2024 results on October 25, 2023, and will report its Third Quarter financial results on January 19, 2024. Temasek increased its investment in tech stocks like Google and Nvidia by over $30 billion in Q2.
3. Coinbase Global (Nasdaq: COIN)
Coinbase Global gained solidly by 5.39%. Coinbase Global will report Q3 2024 financial results on October 30. Monness, Crespi, Hardt rated it "Buy" with a $245 target. B. Riley Securities started coverage with a "Neutral" rating and a $185 target. Several insiders sold shares in mid-October.
4. Trip Group Limited (Nasdaq: TCOM)
Trip Group Limited gained solidly by 5.21%. Trip.com Group reports a 38% year-on-year increase in outbound business travel companies as China's global business travel accelerates in 2024. CEO Liang Jianzhang emphasizes the ultimate goal of travel is the long-term prosperity of human civilization.
5. Nucor (NYSE: NUE)
Nucor gained solidly by 4.45%. Nucor Corporation's Q3 2024 net sales were $7.44 billion, exceeding expectations, with adjusted EPS at $1.49. JP Morgan and Morgan Stanley both maintain an overweight rating on Nucor, with price targets of $168 and $166, respectively.
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