For Immediate Release
Chicago, IL – November 3, 2022 – Zacks.com announced the list of stocks featured in the Analyst Blog. Zacks Equity Research analysts discuss the latest news and events affecting stocks and financial markets every day. Stocks recently featured on the blog include: Abbott Laboratories ABT, ServiceNow, Inc. NOW, Schlumberger Ltd. SLB, Shopify Inc. SHOP and Workday, Inc. WDAY.
Here are the highlights from Wednesday’s Analyst Blog:
Top Research Reports for Abbott Labs, ServiceNow and Schlumberger
Zacks Research Daily presents the best research results of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Abbott Laboratories, ServiceNow, Inc. and Schlumberger Ltd. These research reports have been selected from around 70 reports published by our analyst team today.
You see all research reports now here >>>
Abbott Laboratories’ shares are down -22.2% over the past year versus the Zacks Medical – Products industry’s decline of -49.3%. The company’s total sales were negatively impacted by a sales decline related to the COVID-19 testing and a manufacturing halt initiated in February of certain infant nutrition formula products manufactured at Abbott’s Sturgis, MI facility.
Excluding these negative factors, total worldwide sales increased 6% on an organic basis, benefiting from strong sales growth in the company’s core segments of Established Pharmaceuticals and Medical Devices.
Meanwhile, the Diabetes Care business continued to benefit from growing sales of its flagship CGM system, the FreeStyle Libre. Abbott exited the third quarter of 2022 with better-than-expected earnings and profits. Raised guidance to 2022 provides optimism.
(You can do it read the full Abbott Laboratories research report here >>>)
Shares of Service Today the Zacks Computers – IT Services industry has underperformed over the past year (-39.1% vs. -35.3%). The company suffers from high inflation, unfavorable forex and challenging macro-economic environment. The stiff competition is a headwind and is expected to hurt prospects in the long run.
However, the steady growth in subscription revenues as shown by the strong results of the third quarter of 2022. The company rode on the increased use of its workflows by businesses undergoing digital transformation. As businesses, government agencies and others continue to upgrade their cloud infrastructure, the company is poised to boost usage of its Now platform.
Further, its expanding global presence, strong partner base and strategic buyouts are expected to boost growth prospects. Strategic alliances with the likes of Microsoft remain tailwinds.
(You can do it read the full ServiceNow research report here >>>)
to Schlumberger Shares have outperformed the Zacks Oil and Gas – Field Services industry over the past year (+56.3% vs. +6.4%). The company is the largest oilfield services player, with a presence in every energy market worldwide. As the leading technology provider for complex oilfields, the company is poised to take on new offshore projects in international markets.
A significant increase in oil prices is helping its overall business. Increasing participation in the growth of drilling and completion activities worldwide illuminates the company’s outlook. Schlumberger reported strong third quarter results due to strong activities in land and offshore resources in North America and Latin America.
However, the company’s balance sheet has a very large debt exposure compared to industry stocks. Also, the aggressive capital expenditure budget remains a headwind for the company. As such, the stock warrants a cautious stance.
(You can do it read the full Schlumberger research report here >>>)
Other notable reports we’re featuring today include Shopify Inc. and Workday, Inc..
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Abbott Laboratories (ABT) : Free Stock Analysis Report
Schlumberger Limited (SLB) : Free Stock Analysis Report
Workday, Inc. (WDAY) : Free Stock Analysis Report
ServiceNow, Inc. (NOW): Free Stock Analysis Report
Shopify Inc. (SHOP) : Free Stock Analysis Report
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