Wall Street Optimism Spills Over to These 10 Stocks on Friday

1. Perrigo Company Plc (NYSE:PRGO)

Perrigo saw its share prices on Friday soar by 20.18 percent to end at $29 each as investor sentiment was fueled by the company beating analyst estimates for its fourth-quarter earnings performance.

In a statement, PRGO reported earnings per share of $0.93 in the fourth quarter of the year, beating analyst estimates of $0.92.

Earnings, however, were weak, as net loss widened by 38 percent to $44.5 million from $32.3 million in the same quarter of 2023, as net sales dipped by 1.5 percent to $1.138 billion from $1.156 billion.

Meanwhile, net loss in the full year of 2024 soared by 1,252 percent to $171.8 million from $12.7 million in 2023, as net sales dropped 6 percent to $4.373 billion from $4.655 billion in 2023.

While we acknowledge the potential of PRGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PRGO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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