The Benzinga Stock Whisper Index uses a proprietary blend of data and pattern recognition to pinpoint five stocks flying under the radar. It helps investors navigate the vast sea of information and identify undervalued, under-followed, and emerging companies worthy of attention. Here’s a look at this week’s (Sept. 20) standout picks:
Barrick Gold (GOLD):
The gold mining giant experienced a surge in reader interest this week, likely driven by the Federal Reserve’s 50-basis point interest rate cut, which boosted gold prices. The buzz also followed CEO Mark Bristow’s address at the Gold Forum Americas, where he outlined Barrick’s ambitious goal of achieving 30% growth in gold-equivalent ounces by the end of the decade. Bristow highlighted the company’s robust existing and developing mines, emphasizing its strategy in a market experiencing an upsurge in mergers and acquisitions. Barrick is also expanding its copper portfolio, which could be an exciting development for investors. While Barrick’s shares dipped 2% over the past five trading days, the stock remains up 14% year-to-date for 2024.Galmed Pharmaceuticals (GLMD):
This biopharmaceutical company witnessed a dramatic surge in its share price this week, propelled by its announcement of new drug development initiatives. Galmed is expanding its research to target cardiac fibrosis and colorectal and hepatic cancers, with data expected to be released in the fourth quarter. Galmed’s CEO, Allen Baharaff, emphasizes the significant public health impact of these conditions, affecting millions globally. The strong investor interest in Galmed led to multiple trading halts throughout the week. Contributing to the stock’s volatility is its low float, with only around 625,000 shares available, making it susceptible to significant price swings based on company news. The stock experienced a remarkable 160% increase over the past five days and is up nearly 100% year-to-date in 2024.ServiceNow Inc (NOW):
This software company is attracting significant attention from readers ahead of its upcoming third-quarter financial results. Analysts expect the company to report $2.74 billion in revenue, a substantial jump from $2.29 billion in last year’s third quarter. ServiceNow has consistently exceeded analyst revenue expectations for six consecutive quarters. Earnings per share are projected to reach $3.46, up from $2.92 in last year’s third quarter. Notably, ServiceNow has surpassed earnings estimates for over 20 consecutive quarters. The upcoming report will provide insights into the company’s continued revenue growth and the growing demand for its AI platform. ServiceNow’s second-quarter results showed a 23% year-over-year increase in subscription revenue, driven by the company’s focus on meeting the needs of CEOs seeking new growth opportunities. ServiceNow’s shares have climbed 4% over the last five days and are up 34% year-to-date.Deutsche Bank (DB):
While bank stocks aren’t frequent guests on the Stock Whisper Index, Deutsche Bank has captured investor interest this week. This heightened attention may be attributed to the recent interest rate cut, which could bolster bank balance sheets and stimulate loan demand. Deutsche Bank is scheduled to release its third-quarter financial results in October, providing further insights into its performance and the outlook for the banking sector. The company’s shares have appreciated 5% over the past five days and are up 24% year-to-date.Stryker Corporation (SYK):
The medical equipment company has attracted investor interest this week due to a string of acquisitions, new product launches, and positive analyst notes. Stryker recently introduced innovative foot and ankle solutions designed to restore limb length. The company also completed the acquisition of privately held care.ai, specializing in AI-assisted virtual care workflows and smart room technology. This acquisition aligns with Stryker’s digital vision and expands its healthcare IT operations. Stryker recently closed its acquisition of NICO Corporation, a company with a specialized surgery method for tumor and intracerebral hemorrhage procedures. In August, the company also announced the acquisition of Vertos Medical, a pain management specialist. These acquisitions and new product introductions have fueled investor enthusiasm regarding Stryker’s future growth and diversification efforts. Piper Sandler maintained an Overweight rating and a $380 price target for Stryker, while Wolfe Research initiated coverage with an Outperform rating and a $405 price target.Stay tuned for next week’s Stock Whisper Index report and follow Benzinga Pro for the latest headlines and market-moving stories.
