HypeIndex weekly trending stocks returned 2.25% as the S&P 500 dived

Wall Street remained under pressure this week even after the Federal Reserve left interest rates unchanged and signaled that a rate cut would happen in September. The Nasdaq 100 index dropped by over 8.75% from its highest point this year while the Dow Jones dropped by 500 points on Thursday. 

Wall Street also reacted to the mixed corporate results this week. Big companies like Amazon and Boeing published weak results while Apple had a strong quarter, helped by its iPad business. 

Texas Instruments (NYSE: TXN)

Texas Instruments HypeIndex

Background

Texas Instruments is a leading company in the semiconductor industry that focuses on analog products mostly in the automotive and industrial sectors. It has been one of the top underperforming companies in the industry because of its high inventories and slow growth rate. 

As a result, its annual revenues dropped from $20 billion in 2022 to over $17 billion in 2023 while its net profit narrowed to $6.5 billion. 

Summary

Texas Instruments was in the spotlight this week as its HypeIndex metric jumped by over 135%. This increase coincided with the stock’s jump to $204 after it published encouraging financial results. 

While its revenues dropped to $3.8 billion from $4.35 billion in the same quarter in 2023, the figure was higher than its guidance. It was also higher than the consensus estimate among Wall Street estimates. 

The company also boosted its forward guidance as it expects its revenue will be between $3.94 billion and $4.26 billion in the third quarter.

Texas Instruments then dropped in line with other companies in Wall Street. The sell-off also happened after Microchip Technology, another company in analog semiconductor manufacturing, published weak financial results on Thursday. Its stock dropped by over 6% in the pre-market on Friday. 

TXN stock also retreated after Intel, another top semiconductor company, released weak results and announced big layoffs. 

• Hype change: 115%

• Price change: -4%

• Sentiment: POSITIVE

T-Mobile (NYSE: TMUS)

T-Mobile HypeIndex

Background

T-Mobile is a leading company in the telecom industry, where it provides its solutions to over 120 million customers in the US. Its current shape happened after the company merged with Sprint in 2020.

Summary

T-Mobile stock price had a strong performance this week as it jumped to a record high. It has risen in the past 12 consecutive months, outperforming its peer companies like Verizon, Comcast, and AT&T.

TMUS stock jumped after the company published strong financial results, which showed that its service revenues rose to $16.4 billion and its postpaid jumped by 7% to $12.9 billion. Its net income rose by 32% to $2.9 billion while the company boosted its forward guidance. T-Mobile also returned $3 billion to shareholders through dividends and share buybacks.

• Hype change: 116%

• Price change: 7%

• Sentiment: POSITIVE

NextEra Energy (NYSE: NEE)

NextEra Energy HypeIndex

Background

NextEra Energy is the biggest utility company in the United States, known for its clean power sources. Most of its power comes from renewable sources like nuclear, solar, wind, and natural gas. 

Over the years, its revenue has risen from over $19.2 billion in 2019 to over $28 billion in 2023 and it expects the trend to continue. 

Summary

NextEra Energy stock has generated substantial hype in the past few weeks, helped by its recovery and results that were better than expected. Its net income came in at $1.6 billion, which was higher than the expected $1.55 billion. Still, this figure was lower than the $2.7 billion it made in the same period in 2023. 

NextEra continued to benefit from the artificial intelligence craze as it received a big order of 860 megawatts from Google. Its total origination during the quarter was over 3,000 megawatts and this trend may continue in the near term. 

NextEra is seen as one of the best utility companies, thanks to its big portfolio of clean energy sources, its scale, and its record of dividend growth.

• Hype change: 67%

• Price change: 4.6%

• Sentiment: POSITIVE

UPS | UPS

UPS HypeIndex

Background

UPS is one of the biggest parcel companies in the United States. It delivers millions of parcels each year, thanks to its hundreds of aircraft and thousands of workers and vehicles. 

UPS’s business has not been doing well for a while, which explains why its stock remains in a bear market. Total revenue dropped from over $100 billion in 2022 to over $90.9 billion in 2023 while its profits fell to $6.7 billion. 

Summary

UPS saw higher positive hype this week even after it published weak financial results. Its revenue came in at $22.1 billion, lower than the consensus estimate. Its profits were also smaller than expected. 

The hype also rose after the company announced a series of cost-cutting measures, including a 14% jobs reduction. It also returned to volume growth during the quarter, meaning that its business conditions are improving. 

• Hype change: 67%

• Price change: 1.4%

• Sentiment: POSITIVE

HypeIndex is the best stocks hype tool to use

HypeIndex is the best stocks hype tool that has been quite successful in helping investors anticipate future moves in the stock and crypto market. It leverages proprietary technology and big data and is used by thousands of investors. For example, the tool was able to accurately predict the resurgence in T-Mobile stock this week. It also accurately predicted Lockheed Martin whose stock has risen to a record high.

Altogether, our HypeIndex stock picks had a total return of 2.25% this week while the Dow Jones, Nasdaq 100, and S&P 500 fell by 2.45%, 2.6%, and 4%, respectively.

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