Last month, on the heels of the wildly successful Epic Games’ ‘Fortnite’, Activision issued a weak forecast and announced it was cutting 8 percent of its staff. But Olson is betting on a rebound.
“Newell shares continue to fade following a disappointing Q4 earnings report on 2/15. At this point, we believe expectations have been sufficiently rebased and that investor sentiment is now ‘so bad, it’s actually good’,” wrote Wells Fargo analyst Bonnie Herzog.
On Thursday, Newell reported weak sales and announced that CEO Michael Polk will leave the company at the end of June. Shares of Newell Brands are about unchanged over the last week to $15.33.
If Spotify shares fall leading up to Apple’s March 25th event, where the iPhone is expected to unveil streaming TV and subscription news services, it could be a reason to buy, noted Rosenblatt Securities analyst Mark Zgutowicz. “Net-net, we are buyers on any weakness in front of Apple’s event,” Zgutowicz said.
Earlier this week, the music-streaming service filed a complaint in Europe saying Apple Music has an unfair advantage.
The stock is down 0.2 percent over the last month.
Analysts finding cheap stocks this week:
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