PARA, CE, NIO, HD, FRGE, ALLG : Trending Stocks Today 17 May

By Kirsteen Mackay


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Stocks trending today include Paramount Global (PARA), Celanese (CE), Nio Inc (NIO), Home Depot Inc (NYSE: HD), Forge Global (FRGE) and Allego (ALLG).

PARA, CE, NIO, HD, FRGE, ALLG : Trending Stocks Today 17 May

US equities are rallying in Tuesday morning trading, reversing Monday's declines.

Retailers are seeing their share prices slide after reporting quarterly earnings. Walmart (NYSE: WMT), Target (NYSE: TGT), Dollar General (NYSE: DG) and Dollar Tree (NASDAQ: DLTR) top the S&P 500 losers in pre-market trading.

Oil up, gold up and Bitcoin (BTC) up.

Here are some of today’s trending stocks:

Paramount Global Class B (NASDAQ: PARA)

Today, mass media company Paramount Global Class B (NASDAQ: PARA) is up close to 14% in early market trading. The rally comes after Warren Buffett’s Berkshire Hathaway discloses a $2.6bn stake in the entertainment giant.

Paramount Global owns CBS, MTV, Nickelodeon, Showtime and Comedy Central, and the Paramount+ streaming service operator. 

Over the past year, Paramount Global Class B (PARA) has traded between $26.11 and $47.46. This morning it trades at $31.90. 

FactSet analysts have a consensus rating of Hold on the stock with a target share price of $36.41. 

Celanese Corporation (NYSE: CE)

Celanese Corporation (NYSE: CE) is a chemicals company leveraging technology in manufacturing materials critical to the global chemicals and paints and coatings industries, such as acetic acid and vinyl acetate monomer.

Berkshire Hathaway became a top-five shareholder in Celanese in Q1, with a 7.3% stake. This is a tiny part of the company’s portfolio but the only investment it has in the materials sector.

Celanese has raised its dividend annually for 14 years and conducted several share buybacks.

Over the past year, Celanese Corporation (CE)’s stock is down by -14.41%, while the S&P 500 is down -3.73% over the same period. During this time, CE stock has traded between $132.26 and $176.50. Today it trades at $154 pre-market.

Nio Inc (NYSE: NIO)

Nio Inc (NYSE: NIO) stock is up 4.7% in pre-market trading. The Chinese EV maker was upgraded to buy from neutral at Bank of America. The analyst believes the negatives are already priced into the stock after plummeting 56.5% year-to-date.

The analyst is also optimistic about NIO’s new models and believes price increases will offset margin pressures. Meanwhile, the supply chain disruption should recover as Shanghai reopens.

Over the past year, Nio Inc - ADR (NIO) has traded between $11.67 and $55.13. Today it sits at $15.24 in pre-market trading.

Home Depot Inc (NYSE: HD)

Home Depot Inc (NYSE: HD) reports fiscal quarter earnings today to the end of April. EPS of $4.09 beat FactSet analyst estimates of $3.69 with a 10.9% upside surprise. Reported sales of $38.9bn beat estimates of $36.7bn with a 6% surprise. Sales rose 3.8% Y/Y.

HD stock rose to $310 in pre-market trading but has since pared back to $307. Over the past year, Home Depot Inc (HD) has traded between $280.63 and $420.61. 

Home Depot, Inc. sells building materials and home improvement products.

Chief executive Ted Decker said:

Fiscal 2022 is off to a strong start as we delivered the highest first quarter sales in company history.

Forge Global Holdings Inc (NYSE: FRGE)

Forge Global Holdings Inc (NYSE: FRGE), the Data services and technology solutions company, shows signs of recovery. In pre-market trading, it is up 5.77%. This comes after Monday’s poor trading performance, which saw the stock tank massively from $27 to $17.50. Forge Global's poor quarterly results predominately drove this. 

Forge Global reported Q1 revenue of $20.02m, down from sales of $32.06m in the prior-year quarter. The company also reported trading volume down 45% to $418m. The 52-week range for the company is $11.06 - $47.50. The current pre-market share price is $18.50.

Allego NV (NYSE: ALLG)

Allego NV (NYSE: ALLG) enjoyed a 15% share price yesterday and continues this positive momentum in pre-market, with the stock up another 1.91%. The EV charging station company managed to capitalize on the rise of EV vehicles and become one of the leading EV charging stations in Europe.

Highlight's in the company’s full-year report show 2021 results exceeding its internal projections. Revenues increased 95% to €86.3m, as the number of charging sessions increased 65% over the prior year.

Allego’s network delivered 83GWh of clean, 100% renewable energy in 2021, more than 77% from 2020. Therefore, its network delivered 414 million green km (258 million miles) in 2021 vs. 234 green km (145 million miles) in 2020. Over the past year, Allego NV (ALLG) has traded between $5.66 and $28.44. The current share price is $9.61.


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Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of, has not been paid for the production of this piece by the company or companies mentioned above.

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