Why Sofi, ARM, and Altria Are Stocks to Watch
Complete. Here is the key summarySofi, ARM, and Altria are key stocks to watch. Sofi reported 41% revenue growth and raised guidance despite a stock drop below $16. ARM surged on earnings with 22.9% revenue growth, though shares remain below highs. Altria's Q2 results caused a stock decline to ~$68, posting $1.48 EPS and flat revenue, presenting an opportunity for income investors.
Investors waiting for Sofi (SOFI) to tip may often count on that happening after it posted quarterly results.
Sofi dropped below $16 after it reported revenue growth of 41.0% Y/Y to $1.21 billion. Loan originations reached a record of $14.8 billion. For the year, Sofi raised its net revenue guidance to $4.75 billion to $4.85 billion. Although investors need to watch out for stock dilution, the company is executing its growth strategy.
Bears hold a short float of 14.76%.
Arm Holdings (ARM) jumped after posting its earnings. Although ARM stock peaked at $452.70, the share price in the $240 range is well below that high. In Q1, ARM posted non-GAAP EPS of $0.45. Revenue increased by 22.9% Y/Y to $1.29 billion. Royalty revenue of $715 million is a 22% Y/Y increase.
ARM stock will reward momentum investors when it is in an uptrend. Management is confident that it has the ability to supply over $1 billion in goods. AGI revenue should accelerate.
Altria (MO) reported Q2 results that sent the stock down from a $76 high to around $68. The tobacco firm posted non-GAAP EPS of $1.48. Revenue (+0.2% Y/Y) was $5.36 billion. Income investors should take advantage of the weak stock to build a position. Philip Morris (PM) and British American Tobacco (BTI) are also worth considering.