XPeng, ON Semiconductor, Credit Suisse And More: U.S. Stocks To Watch

Benzinga2022-10-31

With US stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:

  • Before the markets open, ON Semiconductor Corporation (NASDAQ:ON) is projected to post quarterly earnings at $1.32 per share on revenue of $2.12 billion. ON Semiconductor shares fell 1.4% to $66.55 in pre-market trading.
  • Citi analyst Jeff Chung double downgraded XPeng (NYSE:XPEV) to Sell from Buy with a $3.18 price target after reducing forecasts for sales volumes, margins and free cash flow through 2024. XPeng's model cycle faces "serious challenges" in 2023 as foreshadowed by its recent market share loss on "poor" sales and order in-takes, Chung tells investors in a research note. Chung's 2022 and 2023 revenue forecasts are now 59% and 57% below consensus, respectively. He does not expect breakeven until at least 2026 for XPeng. XPeng shares dropped 5.7% in premarket trading.
  • Credit Suisse (NYSE:CS) on Monday said qualified investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), as it announced details of its capital hike. The fund raising is part of the embattled bank's restructuring plans itannouncedlast week to tackle the biggest crisis in the company's history. Credit Suisse shares climbed 0.5% in premarket trading.
  • Wall Street expects Global Payments Inc. (NYSE:GPN) to report quarterly earnings at $2.49 per share on revenue of $2.04 billion before the opening bell. Global Payments shares gained 2.9% to $129.00 in pre-market trading.
  • Analysts are expecting The Goodyear Tire & Rubber Company (NASDAQ:GT) to have earned $0.58 per share on revenue of $5.29 billion for the latest quarter. The company will release earnings after the markets close. Goodyear Tire shares fell 0.2% to $12.50 in pre-market trading.
  • Thermo Fisher Scientific Inc. (NYSE:TMO) is said to be nearing a deal to acquire diagnostic firm Binding Site for around $2.3 billion, Bloomberg reported. Thermo Fisher shares gained 0.1% to $504.38 in the after-hours trading session.
  • Analysts expect Stryker Corporation (NYSE:SYK) to post quarterly earnings at $2.23 per share on revenue of $4.47 billion after the closing bell. Stryker shares gained 0.4% to close at $229.23 on Friday.
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