Company news from May 31, 2022

  • PDD shares of Pinduoduo Inc. soared 15.2% after the company reported adjusted earnings of $0.47 per share in the first quarter of fiscal 2022, beating Zacks consensus estimate of 0, $27 per share.
  • Shares of Canopy Growth Corporation CGC plunged 12.1% after reporting an adjusted loss of $0.42 per share in the fourth quarter of fiscal 2022, above Zacks consensus estimate of a loss of $0.42 per share. $0.24 per share.
  • Costco Wholesale Corporation’s COST shares rose 1.2% after posting revenue of $52.6 billion in the third quarter of fiscal 2022, beating Zacks consensus estimate of $52.3 billion .
  • Shares of Ulta Beauty, Inc. ULTA jumped 12.5% ​​after the company reported earnings of $6.30 per share in the first quarter of fiscal 2022, beating Zacks consensus estimate of $4.44 per share.

Zacks names ‘only one best choice for doubling up’

From thousands of stocks, 5 Zacks experts have each picked their favorite to skyrocket by +100% or more in the coming months. Of these 5, Research Director Sheraz Mian selects one to have the most explosive advantage of all.

It’s a little-known chemical company that’s up 65% year-on-year, but still very cheap. With relentless demand, rising earnings estimates for 2022 and $1.5 billion for stock buybacks, retail investors could jump in at any moment.

This company could rival or surpass other recent Zacks stocks which are expected to double, such as Boston Beer Company which jumped +143.0% in just over 9 months and NVIDIA which jumped +175.9% in one. year.

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Costco Wholesale Corporation (COST): Free Inventory Analysis Report

Ulta Beauty Inc. (ULTA): Free Stock Analysis Report

Canopy Growth Corporation (CGC): Free Stock Analysis Report

Pinduoduo Inc. Sponsored ADR (PDD): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Karen J. Nelson