Yahoo Finance The Zacks Analyst Blog Highlights Broadcom, Bank of America, Thermo Fisher Scientific, Chubb Limited and Aon
For Immediate Release
Chicago, IL – May 18, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Broadcom Inc. AVGO, Bank of America Corp. BAC, Thermo Fisher Scientific Inc. TMO, Chubb Limited CB and Aon plc AON.
Here are highlights from Wednesday’s Analyst Blog:
Top Stock Reports for Broadcom, Bank of America and Thermo Fisher
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Broadcom Inc., Bank of America Corp. and Thermo Fisher Scientific Inc.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Broadcom shares have outperformed the Zacks Electronics - Semiconductors industry over the past year (+16.0% vs. +10.3%), though the stock has lagged the industry in the year-to-date period. The company's top-line growth was driven by strength in networking and server storage. It witnessed strong growth from the deployment of Tomahawk 4 for data center switching at hyperscale customers.
Upgrades of edge and core routing networks with Broadcom's next-generation Jericho portfolio at cloud and service providers also benefited top-line growth. Broadcom's storage connectivity gained from substantial content increases at both cloud and enterprise customers.
Broadcom expects fiscal first-quarter networking and server storage revenues to grow 20% and 50% on a year-over-year basis, respectively. The VMware acquisition will boost prospects. However, increasing competition, along with high debt levels, are persistent overhangs.
(You can read the full research report on Broadcom here >>>)
Shares of Bank of America have underperformed the Zacks Banks - Major Regional industry over the past six months (-25.5% vs. -15.9%). The weakening economic backdrop is weighing on the investment banking (IB) business, a trend that is expected to remain in place at least through the remainder of this year. This, along with the volatile nature of the capital markets, will hurt non-interest income. Our estimates for the same show 2.1% rise for 2023.
A tough operating backdrop will lead to higher provisions, with we projecting a substantial jump in the metric this year. Inflationary pressure will result in mounting expenses. According to the Zacks analyst estimates total non-interest expenses implies a rise of 1.9% this year.
However, higher rates and decent loan demand will aid net interest income (NII). The opening of new financial centers and improving digital capabilities will bolster the top line.
(You can read the full research report on Bank of America here >>>)
Shares of Thermo Fisher Scientific have underperformed the Zacks Medical - Instruments industry over the past year (-3.9% vs. +4.9%). The company is witnessing year-over-year decline in revenues in the Life Science Solutions and Specialty Diagnostics segment is disappointing. The contraction of margins does not bode well either.
However, robust year-over-year revenue growth in the Analytical Instruments and the Laboratory Products and Biopharma Services segments appears promising. During the first quarter, Thermo Fisher launched a range of high-impact, advanced new products, including the Thermo Scientific iCAP RQ Plus ICP-MS Analyzer.
Thermo Fisher Scientific company continued to strengthen its unique customer-value proposition by advancing the strategic partnership with the University of California, San Francisco (UCSF).
(You can read the full research report on Thermo Fisher Scientific here >>>)
Other noteworthy reports we are featuring today include Chubb Limited and Aon plc.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Bank of America Corporation (BAC) : Free Stock Analysis Report
Chubb Limited (CB) : Free Stock Analysis Report
Thermo Fisher Scientific Inc. (TMO) : Free Stock Analysis Report
Aon plc (AON) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
