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Tuesday, August 9, 2022The Zacks Research Daily presents the best research output of our analyst team. Today's note including a real-time scorecard of the Q2 earnings season, in addition to featuring new research reports on 16 major stocks, including Roche
Holding AG (RHHBY), Adobe
Inc. (ADBE), and McDonald's Corporation (MCD). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today’s research reports here >>>Q2 Earnings Season Scorecard We now have Q2 results from 448 S&P 500 members or 89.6% of the index's total membership. Total earnings for these 448 companies are up +8.1% from the same period last year on +15.3% higher revenues, with 77.2% beating EPS estimates and 68.3% beating revenue estimates. The beats percentages have been less frequent this earnings season relative to other recent periods. Looking at Q2 as a whole, combining the actuals that have come out with estimates for the still-to-come companies, earnings and revenues are on track to be up +6.9% and +14% from the year-earlier levels, respectively. Excluding contribution from the Energy sector, Q2 earnings for the rest of the index would be down -3.4%. On the other hand, the Q2 earnings growth pace improves to +14.1% once the Finance sector's drag is removed. Estimates for the current period (2022 Q3) have come down lately, with the current +2.5% earnings growth rate down from +7.2% in early July. On an ex-Energy basis, Q3 earnings are currently expected to be down -4%, which represents a decline from +2.1% on July 6th.Today's Featured Analyst ReportsRoche Holding shares have declined -15.2% over the past year against the Zacks Large Cap Pharmaceuticals industry’s decline of +7.4%. The Zacks analysts believes that the demand for COVID-19 tests is expected to decline in the second half, and this will adversely impact the Diagnostics division, which recorded solid growth last year.Nevertheless, growth of routine business excluding COVID tests should maintain momentum. Competition is stiff for Tecentriq and incremental market share gains will be tough. The decline in sales of drugs like Herceptin, Avastin and MabThera will continue to drag sales.However, the pharmaceuticals business remained stable and newer drugs continued to offset the decline in sales of legacy drugs. Strong demand for new drugs, namely Hemlibra (hemophilia), Ocrevus (multiple sclerosis), Evrysdi (spinal muscular atrophy), Phesgo (cancer) and Tecentriq (cancer) maintains momentum.(You can read the full research report on Roche here >>>)Adobe shares have declined -30.3% over the past year against the Zacks Computer - Software industry’s decline of -9.3%. The Zacks analyst believes that lower end-market demand, particularly in Europe, and high acquisition expenses remain major overhangs. Nevertheless, Adobe is benefiting from strong demand for its cloud products. The company’s Creative Cloud, Document Cloud and Adobe Experience Cloud products are helping it drive top-line growth. Additionally, rising subscription revenues and solid momentum across the mobile apps remain major positives. Further, growth in emerging markets, robust online video creation demand, strong Acrobat adoption and improving average revenue per user remain tailwinds.However, we remain optimistic about Adobe’s market position, compelling product lines, persistent innovation and solid adoption of Creative Cloud and Adobe marketing cloud. Further, the company’s strong balance sheet remains another positive.(You can read the full research report on Adobe here >>>)McDonald's shares have outperformed the Zacks Retail - Restaurants industry over the past year (+12.4% vs. -12.4%). The company reported mixed second-quarter 2022 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top line fell year over year, while the bottom line increased on a year-over-year basis.McDonald’s increased focus on menu innovation and loyalty program expansion is commendable. The company is also undertaking every effort to drive growth in international markets. Robust digitalization will help the company in driving long-term growth and capturing market share.However, restaurant closures in Russia and Ukraine coupled with inflationary pressures on labor and commodities remain headwinds. The company stated that recovery in China remains challenging due to ongoing COVID resurgences and related lockdowns.(You can read the full research report on McDonald here >>>)Other noteworthy reports we are featuring today include Merck & Co., Inc. (MRK), Deere & Company (DE), and BP p.l.c. (BP).Sheraz Mian Director of ResearchNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Today's Must ReadNew Drugs Boost Roche (RHHBY) Amid Biosimilar CompetitionAdobe (ADBE) Rides on Growing Adoption of Cloud ApplicationsLoyalty Program Aid McDonald's (MCD), China Comps Woes StayFeatured ReportsKeytruda to Remain Merck's (MRK) Key op Line Driver in 2022With continued label expansion into new indications & early-stage settings, Keytruda is expected to remain a key top-line driver, per the Zacks analyst.Deere (DE) Rides on Farm Equipment Demand Amid Higher CostsPer the Zacks analyst, Deere will gain from increased farm equipment demand driven by higher commodity prices despite escalating material and logistic costs.BP to Benefit From Renewable Energy Project in AustraliaPer the Zacks analyst, BP is well-positioned to gain from Australia's renewable energy project, which can be the world's leading producer of green hydrogen.Project Investments, Productivity to Aid Air Products (APD)While Air Products faces headwinds from higher power and fuel costs, it should gain from investments in high-return industrial gas projects and productivity actions, per the Zacks analyst.Enterprise (EPD) Banks on $5.5B Midstream Growth ProjectsPer the Zacks analyst, Enterprise will generate additional cashflows from its $5.5 billion of midstream growth projects, currently under construction.Cards, High Rates Aid Capital One (COF), Asset Quality AilsPer the Zacks analyst, strength in credit card businesses, higher interest rates and loans, and strategic buyouts will support Capital One amid worsening asset quality and mounting operating expenses.STERIS (STE) Sterilization Wing Grows on New Customer UptakeThe Zacks analyst expects STERIS' Applied Sterilization business to continue to put up a robust performance on growing demand from medical device and biopharma customers.New UpgradesSolid Pipeline, Cash Position to Aid Canadian Solar (CSIQ)Per the Zacks analyst, a strong project pipeline boosts revenue growth prospects for Canadian Solar. Also, its solid financial position should attract more investors to buy this stockADTRAN (ADTN) Rides on Solid Demand Trends & DiversificationPer the Zacks analyst, Adtran is likely to benefit from the improved customer diversification and strong demand for end-to-end fiber broadband solutions.Cambium (CMBM) Rides on Technology Roadmap and Solid DemandPer the Zacks analyst, Cambium is likely to benefit from the growth of high-performance broadband network and strong demand for its enterprise solutions. New DowngradesElevated Costs to Hurt Monster Beverage's (MNST) MarginsPer the Zacks analyst, Monster Beverage witnesses inflationary operational costs for aluminum can import, shipping, freight and other inputs, which have been hurting margins. This is likely to persistMedifast (MED) Hurt by Material & Transport Cost InflationPer the Zacks analyst, Medifast is battling cost inflation, which hurt its second-quarter earnings. Management lowered its 2022 view due to factors like raw material and transportation cost inflation.Maximus (MMS) Remains Troubled by Lower Current RatioPer the Zacks analyst, Maximus is seeing lower current ratio for a while. The company's current ratio at the end of June-quarter was pegged at 1.47, lower than prior-year quarter's 1.52.Want to Know the #1 Semiconductor Stock for 2022?Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries.This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most.Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report BP p.l.c. (BP): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report McDonald's Corporation (MCD): Free Stock Analysis Report Deere & Company (DE): Free Stock Analysis Report Adobe Inc. (ADBE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment ResearchWeiter zum vollständigen Artikel bei "Zacks"
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