NYSE Momentum Watchlist: BZH, CMRE, COUR, IONQ, CLS

There are very few stock exchanges in the world that could rival the New York Stock Exchange or the NYSE in terms of liquidity or trading volumes. Stocks that record notable gains on the NYSE are often noticed and tracked closely by investors. Here is a look into some of the NYSE-listed stocks that have managed to record strong gains in recent days.

Beazer Homes USA Inc (NYSE:BZH) – The company announced its financial results for the quarter that ended on June 30, 2023, on July 27. In the first quarter of 2023, Beazer Homes USA Inc recorded a net income of $43.8 million from operations, which worked out to $1.42 per issued and diluted share. In the fiscal third quarter of 2022, the net income had been $54.3 million, which translated to earnings of $1.76 per diluted share. The adjusted EBITDA for the quarter was $72.8 million, which reflected a decline of 17.5% from Q3 2022.

The home building revenues however went up by 9% from Q3 2022 and hit $570.5 million. The gross margin for home-building activities stood at 20.2%, which was down by 490 basis points from the third quarter of 2022. The Chairman and Chief Executive Officer of the company Allan P Merill noted that although home affordability continued to be challenging for many, the demand from home buyers had remained resilient. He went on to add that the inherent strength of the economy combined with the death of available homes for sale had contributed to the situation.

Costamare (NYSE: CMRE) – There may not be a lot of attention on container shipping in business but Costamare has gained considerable attention in recent days. This past Friday the stock was in sharp focus and ended up with gains of as much as 23.1% amidst significant interest. On that day the company announced its financial results. Despite the rally in the stock it managed to hit its adjusted earnings projection and only returned $0.56 a share. As per GAAP, it would have gone down to $0.52 a share.

However, investors seemed to have latched on to the strong sales performance, which stood at $365.9 million, which exceeded the Wall Street projection of $256.5 million. It also reflected year on year boost of 26%. However, the Chief Financial Officer of the company GregryZikos noted that the situation with the container ships sector continued to be weak.

Coursera Inc(NYSE: COUR) – The company was in the news on July 27 after it announced its financial results for the second fiscal quarter that had ended on June 30, 2023. Coursera Inc announced that it had brought in total revenues of $153.7 million for the quarter, which reflected a year-on-year rise of 23% from the $124.8 million in revenues a year ago. The gross profit of $79.7 million worked out to 51.9% of revenues, as opposed to $78.4 million in the year-ago period when it had accounted for 53.3% of revenues.

Coursera suffered a net loss of $31.7 million, which was an improvement from the $49.3 million in losses that it had suffered in the prior year period. The net loss worked out to 20.7% of the revenues but in the prior year period, it was 39.3%. The adjusted EBITDA was $2.9 million as opposed to $15.6 million in the prior year period.

IonQ (NYSE: IONQ) – The company is a leader in the quantum computing industry and last week it announced that its financial results for the quarter that ended on June 30, 2023, would be announced on August 10, 2023. The company noted that the results would be announced after the closure of markets on the day. IonQ further revealed that it would also host a conference call on the same day to discuss the financial results and outlook.

The conference call would begin at 4:30 PM Eastern Time. The company also revealed that the conference call would be webcast live and shared a link to the company website. The company has a proud track record of deployment and innovation in the field of quantum computing. The IonQ Forte is the present generation quantum computer and boasts an industry-leading 29 algorithmic qubits.

Celestica Inc (NYSE: CLS) – The company is a leader in the world of manufacturing, designing, supply chain solutions, and hardware platforms. Last week Celestica Inc announced its financial results for the quarter that ended on June 30, 2023. Revenues went up by 13% year on year to hit $1.93 billion and the non-IFRS operating margin stood at 5.5% as compared to 4.8% in the year-ago period.

The non-IFRS adjusted earnings per share was $0.55 compared to $0.44 a share in the year-ago period. The non-IFRS free adjusted cash flow for the quarter was $66.8 million compared to $43.3 million in the second quarter of 2022.