CSX Corp. [CSX] - Last Close: $27.08
CSX is moving higher on upbeat earnings results.
The railroad stock reported its Q3 earnings late Thursday, and the numbers beat analysts' expectations.
CSX generated revenues of $3.90 billion in Q3, which surpasses The Street's $3.75 billion estimate.
Q3 earnings came in at $0.52 per share and beat the consensus EPS target of $0.49.
News of the strong quarter is lifting CSX to the top of the charts this morning. It's the #1 S&P 500 stock with a 5.1% gain.
My Take: CSX could be a good long-term value, but its chart is pretty ugly and there's no telling when the turnaround will come. Today's rally is a good sign, but it's still unclear if it marks a long-term pivot point.
Veris Residential Inc [VRE] - Last Close: $12.42
M&A rumors are boosting shares of Veris Residential today.
The REIT announced this morning that it had received an unsolicited proposal from Kushner Companies to acquire the company for $16 per share.
Veris's board of directors says they're evaluating the proposal with the assistance of financial and legal advisors, and the company will respond to the proposals in due course.
Kushner Companies' proposal also includes an alternative proposal to externally manage Veris instead of acquiring it.
VRE is up 19.9% on the acquisition rumors.
My Take: VRE's share price is already pretty close to the proposed acquisition bid of $16, so there's not a lot of upside left here. However, there's still a big risk that the deal doesn't go through.
Energy Focus Inc [EFOI] - Last Close: $0.4034
Energy Focus is trending today, but it's not clear why.
The energy-efficient LED manufacturer is one of today's top movers, despite no major news coming out of the company this week.
It's last news item came last week, when it filed a Form 8-K on Oct. 13th detailing its latest financial figures and other corporate updates.
The stock saw some gains after releasing the report, but it's been down-trending since.
Today, EFOI is one of today's top movers with a 63.6% gain on active trading volume.
My Take: EFOI's rally could be explained by the rush of bullish interest in the green energy sector. However, there's also a chance that this is a bull trap. Approach this one cautiously.
American Rebel Holdings [AREB] - Last Close: $0.2899
American Rebel is trending after an upbeat forecast.
The safe-maker announced Thursday morning that it expects to bring in $5 in pro forma Q3 gross revenues.
American Rebel's revenue forecast includes revenues earned by its Champion Safe division, which AREB acquired on July 29th, 2022.
âWeâre on target to exceed $20 million in annual pro forma revenue for 2022,â said Andy Ross, CEO of American Rebel.
The news sent AREB to a 5.4% gain on Thursday, and it's adding to its gains in today's premarket.
AREB is currently up 12.0%, and it's one of this morning's most active stocks.
My Take: It seems like most of the good news from AREB's Q3 earnings has already been priced into the stock, but you never know. The company could have something else up its sleeve. However, I would be wary of a pullback.
