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Sept. 23, 2022, 1:42 p.m. EDT

4 Stocks to Watch Friday: Costco, Royal Caribbean, and More

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Sep 23, 2022 (PressReach.com via COMTEX) -- The 4 stocks to watch were trading priced at COST ($473.43), CAMP ($3.98), RCL ($44.48), CANO ($.8.77) between 11:00 to 11:00 EDT on Friday.

The major U.S. market averages are expected to continue to fall on Friday, according to the futures, as investors continue to assess the possibility that an aggressive Federal Reserve may cause the economy to enter a recession. A few equities are expected to move on specific pieces of news under this overall downward trend. These stocks to watch are the ones to keep an eye on this Friday:

As the retailer’s profits fell short of expectations, Costco /zigman2/quotes/201191698/composite COST -1.53% saw its share price decline in premarket trade, falling nearly 3%. With comparable sales of 15.8% over the prior year, the company’s revenue increased by 15%. The high cost of gas and currency conversion, however, inflated those numbers. Earnings at COST , meanwhile, were only as expected.

After releasing its quarterly earnings, CalAmp /zigman2/quotes/200206239/composite CAMP -5.76% gained slightly in premarket trading. Loss for the company was less severe than anticipated. Despite an 8% drop from last year, revenue also exceeded forecasts. The Zacks Electronics – Miscellaneous Components sector member CalAmp reported revenue of $72.83 million for the quarter that ended in August 2022, which was 5.86% more than the consensus estimate. When compared to the prior year, revenues were $79.01 million. Only once in the previous four quarters did the company exceed consensus revenue projections .

It will mostly depend on management’s remarks on the earnings call as to whether the stock’s recent price increase based on previously revealed numbers and projected future earnings can be sustained. Compared to the S&P 500’s decrease of -20.5%, CalAmp shares have fallen around 29.8% since the year’s beginning.

Premarket selling in Royal Caribbean /zigman2/quotes/208854639/composite RCL -3.01% was sparked by an issue of notes. Following the pricing of concurrent private sales of $1 billion in senior notes due 2029 by the cruise operator, the shares dropped by over 4% before the market opened. However, worries about inflation continue to loom over the sector. However, you can see that they have lost around 38% so far this year. However, Royal Caribbean claimed that it is also utilizing the bond market in order to raise $2 billion in order to repay the debt that is due in the next year, at the very least putting a dent in its $21 billion debt load.

In premarket trading on Friday, Cano Health /zigman2/quotes/219327901/composite CANO -15.79% is one of the stocks to watch. Cano grew by an additional 6%, adding to its recent gains. The primary care provider’s stock price increased by 32% on Thursday as a result of reports that Humana (HUM) and CVS Health (CVS) may be considering buying it.

In additional market news, well-known investor Cathie Wood has made the decision to leave her position as a portfolio manager at two of her ARK Invest ETFs.

Stocks To Watch As Corporate Travel Picks Up

Featured Image- Megapixl @ Andreistanescu

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Author: Jowi Kwasu
Market Jar Media Inc.
info@marketjar.com
#170 - 422 Richards Street
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V6B 2Z4
1.800.340.9767

COMTEX_415135509/2810/2022-09-23T13:41:51

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/zigman2/quotes/201191698/composite
US : U.S.: Nasdaq
$ 481.16
-7.50 -1.53%
Volume: 3.00M
Dec. 6, 2022 4:00p
P/E Ratio
36.62
Dividend Yield
0.75%
Market Cap
$216.28 billion
Rev. per Employee
$746,559
loading...
/zigman2/quotes/200206239/composite
US : U.S.: Nasdaq
$ 3.27
-0.20 -5.76%
Volume: 283,622
Dec. 6, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$128.61 million
Rev. per Employee
$309,705
loading...
/zigman2/quotes/208854639/composite
US : U.S.: NYSE
$ 57.63
-1.79 -3.01%
Volume: 4.81M
Dec. 6, 2022 4:03p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$15.16 billion
Rev. per Employee
$84,927
loading...
/zigman2/quotes/219327901/composite
US : U.S.: NYSE
$ 1.76
-0.33 -15.79%
Volume: 10.53M
Dec. 6, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.03 billion
Rev. per Employee
$1.19M
loading...

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