FMC will continue to erase its 2024 YTD losses on stock markets today. Shares gained 9.46% on Tuesday after the firm posted Q1 results. It earned 36 cents a share (non-GAAP) on revenue of $918 million (-31.5% Y/Y).
FMC issued a revenue outlook of $4.5B to $4.7B, above consensus.
International Flavors & Fragrances (IFF) may add to its uptrend. The firm posted revenue falling by 4.3% Y/Y to $2.9 billion. Its full-year 2024 sales guidance of $10.8B to $11.1B is above consensus. Watch IFF stock return to above $100 next.
Kenvue (KVUE) may hold the $20.00 level after reporting a 28-cent per share profit (non-GAAP). It will save $350 million annualized, fully realized in 2026, by cutting 4% of its global workforce.
After plunging by 19% yesterday, Builders FirstSource (BLDR) will try to bounce back today. In its Q1 report, the firm blamed commodity deflation for the 0.2% increase in net sales to $3.9 billion.
BLDR stock is attractive. The firm has solid financials that will reward long-run investors. The stock price drop creates an attractive entry point.
In the EV market, Rivian (RIVN) lost $1.24 a share, even as revenue jumped by 81.5% Y/Y to $1.2 billion. Watch out for the stock to head back below $9.00. It may potentially retest the $8.26 reached a few weeks ago.