Today’s Research Reports on Stocks to Watch: Cedar Fair and At Home
U.S. equities saw losses on Wednesday, breaking a winning streak of four consecutive days, as trade tensions grew following the White House’s announcement of further tariffs on Chinese goods. The Dow Jones Industrial Average declined 0.88 percent to close at 24,700.45, while the S&P 500 Index dropped 0.71 percent to close at 2,774.02. The Nasdaq Composite Index shed 0.55 percent to close at 7,716.61.
“This is different from the other trade announcements, because the size is significantly larger, and because China is unable to directly reciprocate at $200 billion because they don’t import that much. It’s unclear what it might do next, but it is clearly another step closer to a full-blown trade war,” according to David Carter, chief investment officer at Lenox Wealth Advisors. “If the trade skirmish escalates into a full-blown trade war, that will be a bigger force in the markets than the strong fundamentals,” Carter added.
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Broadcom’s stock moved 2.84% lower Wednesday, to close the day at $243.44. The stock recorded a trading volume of 2,369,273 shares, which was below its three months average volume of 3,301,758 shares. In the last year, Broadcom’s shares have traded in a range of 221.98 – 285.68. The share price has gained 9.67% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $253.69 is above its 200-day moving average of $248.56. Shares of the company are trading at a Price to Earnings ratio of 9.18. Shares of Broadcom have fallen roughly 6.67 percent in the past month and are down 5.24 percent year-to-date.
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On Wednesday, shares of AXT recorded a trading volume of 2,529,176 shares, which was above the three months average volume of 387,507 shares. The stock ended the day 15.38% higher at $8.25. The share price has fallen 23.26% from its 52 week high with a 52 week trading range of 5.80 – 10.75. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $7.38 is below its 200-day moving average of $7.55. Shares of the company are trading at a Price to Earnings ratio of 27.05. Shares of AXT have gained roughly 7.14 percent in the past month and are down 5.17 percent year-to-date.
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Our Actionable Research on Broadcom Inc. (NASDAQ:AVGO) and AXT, Inc. (NASDAQ:AXTI) can be downloaded free of charge at Research Driven Investing.
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