CNBC Highlights Top Stock Picks: Nvidia, PayPal and More
Insightful Stock Picks from CNBC's Recent Episode
On a recent installment of CNBC's popular segment, industry experts shared their top stock picks. Among these was Nvidia Corporation (NASDAQ: NVDA), identified by Stephen L. Weiss of Short Hills Capital Partners.
Jensen Huang's Thoughts on OpenAI
In a captivating discussion on the Bg2 Pod, Nvidia's CEO, Jensen Huang, praised OpenAI as a transformative force in the tech landscape. During this engaging episode, he was interviewed by Altimeter Capital's Brad Gerstner and Clark Tang.
A Strong Commitment to AI Development
Huang expressed deep admiration for OpenAI, noting its impressive ability to secure $6.6 billion in funding despite facing challenges. He emphasized the importance of continuous innovation in artificial intelligence, illustrating its potential impact on future technological advancements.
Energy Transfer: A Reliable Choice
Bryn Talkington from Requisite Capital Management highlighted Energy Transfer LP (NYSE: ET), emphasizing its attractive 8% distribution yield. This makes it a noteworthy option for investors seeking steady returns.
Upcoming Earnings Report
Energy Transfer is set to announce its third-quarter earnings soon, providing an opportunity for investors to gain insights into its financial health. Analysts predict earnings of 34 cents per share, with revenues forecasted at $23.52 billion.
PayPal: Strong Performance and Future Prospects
Another stock in focus was PayPal Holdings, Inc. (NASDAQ: PYPL). According to Sarat Sethi of DCLA, PayPal is “executing really well” and continues to build momentum.
Analysts on PayPal's Future
Goldman Sachs' analyst, Will Nance, recently reaffirmed a Neutral rating on PayPal but raised the price target from $69 to $79, while Mizuho’s Dan Dolev upgraded the target from $90 to $100, showcasing confidence in PayPal's growth trajectory.
United Rentals: An Earnings Preview
Bill Baruch from Blue Line Capital shared insights on United Rentals, Inc. (NYSE: URI). This company is preparing to report its quarterly earnings, and the market anticipates a growth in earnings from the previous year.
Performance Indicators for United Rentals
United Rentals plans to host its third-quarter conference call shortly. Analysts expect impressive earnings of $12.48 per share, compared to $11.73 in the same quarter last year, indicating operational effectiveness.
Market Reactions to Stock Movements
Market activity reflected positive momentum with notable stock gains:
- Energy Transfer increased by 0.2%, closing at $16.55.
- NVIDIA's shares rose 2.4% to settle at $138.07.
- PayPal’s stock saw a 0.2% rise to reach $80.67.
- United Rentals shares climbed 2.3%, finishing at $838.05.
Frequently Asked Questions
What stocks were discussed in CNBC's 'Final Trades'?
The stocks highlighted include Nvidia, PayPal, Energy Transfer, and United Rentals.
Who is the CEO of Nvidia?
The CEO of Nvidia is Jensen Huang, who has been vocal about the company's role in advancing AI technology.
What is the earnings expectation for Energy Transfer?
The earnings expectation for Energy Transfer is 34 cents per share, with expected revenues of $23.52 billion.
What price targets were set for PayPal stock?
Goldman Sachs raised PayPal's price target to $79, while Mizuho increased it to $100.
When will United Rentals report earnings?
United Rentals is scheduled to report its quarterly earnings on Thursday, October 24.
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