American stocks are thriving, with top indices like the S&P 500 and the Nasdaq 100 reaching record highs. The surge was boosted by the July inflation report, which showed that prices rose modestly. Some of the top stocks to watch today are Bullish (BLSH), Cisco (CSCO), Applied Materials (AMAT), and CoreWeave (CRWV).
Bullish stock in focus on its IPI day
After the successful Circle IPO a few months ago, Bullish will be the next big crypto company to watch as it goes public. There are signs that the BLSH stock price will surge as its capital raising was oversubscribed.
Data shows that the company has raised over $1.1 billion, higher than the $650 million it set to raise. This means that its valuation has jumped to over $5.4 billion.
The stock will likely surge in the first few days or weeks and then crash as Circle did. Circle has already crashed by over 47% from its all-time high and this plunge may continue
Coreweave (CRWV)
The Coreweave stock price will be in the spotlight today, August 13, as investors react to its financial results. CRWV stock has already plunged by nearly 10% from its closing price on Tuesday.
The results shows that CoreWeave’s revenue jumped by 207% to over $1.2 billion, while its adjusted EBITDA was $743 million. Its net loss was over $131 million as the company continues to focus on growth. As part of this growth, the company spent over $2.9 billion in capital expenditure.
Backlog, another important metric, jumped by over 86% to over $30.1 billion because of its business with OpenAI, the owner of ChatGPT.
The CoreWeave stock price crashed after its earnings because its strong numbers were already priced in.
Read more: CoreWeave stock is firing on all cylinders: get out before the engine overheats
Cisco (CSCO)
Cisco stock price has been in a strong bull run in the past few months. It jumped by over 37% from its lowest level in April to its all-time high as demand or its AI solutions rose.
Cisco stock will be in focus as it publishes its quarterly results after the market closes. Analysts anticipate that its revenue will come in at $14.6 billion, a 7.19% increase from the $13 billion it made in the same quarter last year.
The average earnings-per-share (EPS) estimate is 98 cents, up from 87 cents a year ago. Cisco has a long record of beating analysts’ estimates, meaning that it will likely do the same today.
Applied Materials (AMAT)
Applied Materials is another top stock to watch today. It rose by over 2.2% on Tuesday and is up by 0.67% in the premarket. Unlike Cisco, AMAT will publish its results on Thursday, which will provide more color on the demand of its products.
Applied Materials will report revenue of about $7.21 billion, which is in line with its guidance and analysts’ estimates. Its EPS estimate is $2.36, up from $2.12 last year. You can read our full Applied Materials earnings preview here.
Some of the other top stocks to watch today are CAVA Group, Unity Software, Alibaba Group, and SoFi.
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