Here’s a list of things to keep an eye on for Monday, July 21st. First up, Block’s stock is on the rise, as fintech companies prepare to be included in the broader S&P 500 index. Block will officially join the S&P 500 on Wednesday morning.
Next, Verizon reported better-than-expected second quarter results, with revenue forecasted at $1.22, surpassing estimates of $1.19. Their EBITDA also exceeded expectations. The telecom company anticipates adjusted profits will grow by 1% to 3% in 2025, against previous predictions of 0%-3%.
Moving on, President Donald Trump’s “big beautiful bill” is expected to drive significant spending. There’s no reason to lose faith in retail outlets; in my Sunday column, I discussed how the provisions within this bill may positively impact consumers who’ve been disrupted.
Then there’s DoorDash, which maintained an outperform rating with a price target adjustment from $210 to $265 per share. Analysts have also increased Uber’s target from $95 to $110, keeping their buy rating intact. These two have been strong performers in their sectors.
On a different note, Saleptatheraputics experienced an 8% drop after the FDA indicated it would be reviewing support for Elevidi, a gene therapy for muscular dystrophy, following three patient deaths. The stock fell 36% last Friday.
Ben Leitz, an analyst at Merius, suggested that Apple should act more aggressively in the AI domain, positing that innovative steps, like the introduction of AI-powered search engines, could yield significant market rewards. It seems Apple is also prioritizing AI investments over stock buybacks.
Barclays has raised the price target for United Rentals from $565 to $620 while maintaining a sell rating, pointing out the value in machinery and construction stocks this year. It appears this entire sector is being undervalued. Additionally, analysts bumped Caterpillar’s target from $335 to $383 and Cummins from $381 to $387, although all stock insights might be at risk if there’s a recession on the horizon.
Baird has also upped Amazon’s price target from $220 to $244, noting a significant long-term investment in its space platform.
The second quarter earnings season is starting off quite well, which should create some momentum this week. Companies like Danaher, Capital One, Ge Ververnova, Honeywell, and Dover are on deck. It might be worth checking last week’s queue for specifics on what to expect from each one.
Lastly, Barclays downgraded another target, moving it from hold and setting it at $91, suggesting ongoing sales issues. There seems to be a lack of competitive edge. Shoppers don’t appear loyal; in physical retail, Costco and TJX are holding strong.
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