Here’s this week’s list of top trending stocks, major news events, and trade ideas compiled by the Uptrends.ai news sentiment model:
1. QuantumScape (QS)
QuantumScape Signs Huge EV Licensing Deal with Volkswagen
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.
🗓️ Alert Date: July 12th
🟢 Alert Sentiment: Bullish
🚨 7D Alert Price Change: +59% ▲
2. Macy’s (M)
Macy’s Calls Off Buyout Talks and Unveils Plans to Close 150 Stores
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 Macy’s 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.
🗓️ Alert Date: July 15th
🔴 Alert Sentiment: Bearish
🚨 7D Alert Price Change: -11% ▼
3. Applied Industrial Tech (AIT)
AIT: Earnings Surprise Leaves Positives Signs for Investors
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 Applied’s President & Chief Executive Officer, commented, “Third quarter sales exceeded our expectations with the year-over-year trend gradually improving as the quarter progressed...”
🗓️ Alert Date: July 11th
🟢 Alert Sentiment: Bullish
🚨 7D Alert Price Change: +7% ▲
DOMO: Stock Surges as Company Wins Series of Trade Show Awards
Summary: Domo (DOMO) has risen more than 7% this week after the company was recognized as a B2B Program of the Year at this year’s 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.
🗓️ Alert Date: June 10th
🟢 Alert Sentiment: Bullish
🚨 7D Alert Price Change: +7% ▲
RIVN Receives Positive Feedback for R1T Model & Improved Risk Scores
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.
🗓️ Alert Date: June 11th
🟢 Alert Sentiment: Bullish
🚨 7D Alert Price Change: +4% ▲
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