The monthly U.S. inflation report reaffirmed serious price increases in insurance premiums. Chubb (CB) is among the beneficiaries of this trend. CB stock may break out of its $250 range after Berkshire Hathaway (BRK.B) disclosed a $6.7 billion stake at the end of Q1/2024.
Berkshire’s disclosure of the “mystery stock” will re-awaken investors who missed out on the uptrend for insurance stocks. Watch Manulife (MFC) and Prudential Financial (PRU) today.
In the automotive sector, Ford Motor (F) risks under-performing. Markets are bracing for ongoing demand weakness for vehicles. Ford only offset weak sales by posting strong demand in its Pro division. Corporate customers refreshed their fleet of vehicles. This is likely a one-time boost for Ford’s results.
Last night, Cisco Systems (CSCO) reversed its weak fiscal Q2 report by posting strong Q3 results. The networking giant earned $0.88 a share non-GAAP. Revenue fell by 12.8% Y/Y to $12.7 billion. In the fourth quarter, Cisco expects revenue of up to $13.6 billion and EPS of $0.46 to $0.51.
Monday (MNDY) gained 21.37% on Wednesday after reporting $0.61 in EPS. Customers appreciate its great product. The firm, based in Tel Aviv, expects Q2 revenue of up to $230 million. The firm competes with companies like Smartsheet (SMAR) and Asana (ASAN).
