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Duke Energy Receives Temporal Approval of Rate Hikes In North Carolina

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Duke Energy Corp (NYSE:DUK) stock looks bullish and it currently trades above its Parabolic SAR of $82.53. The company can now impose a short-term rate increase of around $253.3 million in yearly revenue on its 2 million North Carolina customers as of August 24. However, this is unlikely to be noticed considering the company will offset the increase by returning an equivalent of around $235.3 million per year to customers from surplus taxes.

The crew of Duke Energy has restored power to over 200,000 customers in North Carolina following the damage caused by Hurricane Isaias in the coastal region. Duke Energy staff has been making repair and replacements of destroyed power lines. There are over 60,000 customers who were without power as of August 4.

Sherwin-Williams Report 5.6% Decline In Net Revenue In Q2

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Sherwin-Williams Co (NYSE:SHW) is also looking bullish and it is trading above its Parabolic SAR of $640.88. The company has unveiled its 2021 edition of the annual Colormix Forecast that collects 40 color paints in four palettes depending on global color, pop culture, and design. The forecast theme this year is "Rhythm of Color" with a focus on the balance between "quiet and expressive," "Fast and Slow" and "virtual and physical."

In the second quarter, the company reported consolidated net sales of $4.60 billion which is a 5.6% decrease. Net sales from Canadian and US open stores in the last 12 months dropped 6.9%. Diluted net income increased to $6.48 per share compared to $5.03 per share reported in Q2 2019.

Applied Materials Unveils New Tech Helping in Transistor Node Scaling

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Another bullish stock is Applied Materials, Inc. (NASDAQ:AMAT) which is trading above its Parabolic SAR of $59.97. The company has unveiled new tech which removes a critical challenge to growing 2D scaling in foundry nodes. The new Selective Tungsten tech helps chipmakers with a way of developing transistors contacts that are important in first level wiring which connects the transistor to the rest of the chip. With the tech, transistor node scaling can now continue to 3nm and 5nm.

Recently the company CEO and President Gary Dickerson unveiled ESG initiatives in which the company affirmed its commitment to using 100% renewable energy y 2030. As per the objectives, the company will join tech leaders in acquiring energy from the 500MW White Mesa Projects under development in Crockett County, Texas.

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COMTEX_369031527/2700/2020-08-07T09:22:13

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