Investing.com -- The recent macro uncertainty has significantly weighed on stocks, resulting in some notable declines. Here are Investing.com’s stocks of the week.
Intel (NASDAQ:INTC)
Despite the generally tough week, Intel is set to close higher (as of 1 pm ET on Friday).
The stock reacted positively, gaining 14% on Thursday, to news that the company has named former board member Lip-Bu Tan as CEO.
Following the announcement, Bernstein analysts told investors in a note that “Lip-Bu brings immediately credibility to Intel for customers, partners, and investors.”
“He is an icon of the industry with experience spanning decades across both pubic and private companies,” added the firm. “We like him; he was at the top of our list of candidates from a desirability point of view.”
Airline Stocks
Airline stocks were on the other end of the spectrum this week, performing negatively. AAL is down over 17% in the last week, while DAL has declined 15% and UAL has fallen 13%.
Some carrier have recently cut their earnings estimates. Macroeconomic uncertainty has impacted the sector, with recent negative comments from US carriers (including Delta and American Airlines (NASDAQ:AAL)) pointing to a potential slowdown in domestic business and leisure travel.
"Earlier this week we took down estimates for the group to reflect uncertainty in the outlook tied to government spending and policy uncertainty," Bernstein analysts said in a note.
However, the firm remains optimistic, stating that "the speed and magnitude of the correction - combined with the benefits of more disciplined capacity, diverisfied revene, and the benefits of lower fuel that should come in later this year” leads them to believe “the market has over-corrected to the downside.”
Crypto Stocks
Once again, crypto stocks make the list, with Coinbase (NASDAQ:COIN) (again) and Robinhood (NASDAQ:HOOD) declining, down 15% and 10% in the last week, respectively.
However, there has been some stabilization in the stocks since Tuesday following significant falls on Monday.
Meanwhile, Bitcoin has shown some resilience following last week’s drop. In the last 24 hours, it has rallied over 5%, currently trading at around the $84,500 level.
Mizuho (NYSE:MFG) analysts told investors in a note this week that they believe the sell-off in Coinbase is overdone and that the company remains positioned for upside due to sustained high trading volumes and improving revenue projections.
The brokerage has adjusted its price target for Coinbase to $217 from $280, attributing the reduction primarily to lower market-wide valuation multiples rather than a fundamental deterioration in the company’s performance.
“Given sustained high volumes (average $5bn of daily spot trading on COIN platform since 2/20 vs. $4.6bn average in the 30 days prior), our quarterly estimates are actually moving up (we now estimate $2.31bn revenue in 1Q25 vs. $2.23bn previously),” wrote Mizuho.
Reddit shares are trading around Monday’s open after a three-day sell-off between Thursday and Monday this week.
The stock rallied 14% on Tuesday and 6% on Wednesday, and while it pulled back Thursday, it is up over 4% on Friday.
Tuesday’s surge came after an analyst at Loop Capital said the recent decline is excessive.
The firm maintained its Buy rating on Reddit, adding that the company’s shares are “extremely attractive.”
Loop Capital believes that Reddit has significant potential to increase average revenue per user (ARPU) by improving ad tools, expanding ad surfaces, and attracting more advertisers.