On Thursday, Root (ROOT), an automotive insurance firm, traded as high as around $112 before settling at $68.39. Markets responded with bullish sentiment to the firm’s quarterly results.
Root unexpectedly reported a $1.35 EPS after revenue jumped by 165.1% Y/Y to $305.7 million. Policies in force increased by 57% to 407,313.
Gaming supplier Roblox (RBLX) jumped by nearly 20% after reporting a $0.37 EPS loss. Bookings rose by 34.6% while revenue increased by 29% Y/Y to $919.0 million.
In the credit card sector, Mastercard (MA) is stalling at around $500. It reported a 12.9% Y/Y increase in revenue, to $7.37 billion. Transaction volumes continue to rise, which suggests that MA stock is on a long-term hold.
Bristol-Myers (BMY), a drug manufacturer, reported an 8.4% rise in revenue to $11.89 billion in Q3. It raised its 2024 revenue guidance to 5%.
BMY stock is cheap enough for value investors to consider today.
Comcast (CMCSA) continued its uptrend after a 6.5% Y/Y increase in revenue to $32.07 billion. The undervalued company benefited from multiple growth factors in Q3. This included the back-to-school contributions, the Olympics for NBC, and growth in the Connectivity and Platforms unit.
Comcast also benefits from a thriving park. The Universal Orlando park offers consumers a week’s week-long vacation with its other existing parks.