Here are this week's downgrades to Strong Sell as determined by the POWR Ratings algorithm.

AMD (AMD) - AMD, or Advanced Micro Devices, is a semiconductor company that develops computer processors and related technologies for business and consumer markets
XPeng (XPEV) - a Chinese electric vehicle company that designs, develops, manufactures, and markets Smart EVs
NIO (NIO) - a Chinese electric vehicle company that designs, develops and jointly manufactures a portfolio that consists of several smart electric SUVs and sedans
Ameresco (AMRC) - a cleantech integrator specializing in energy efficiency and renewable energy
Entegris (ENTG) - a supplier of advanced materials and process solutions for the semiconductor and other high-tech industries
PureCycle Technologies (PCT) - a U.S.-based company that holds a global license for a solvent-driven purification recycling technology designed to transform polypropylene plastic waste into a continuously renewable resource
Stone (STNE) - a provider of financial technology solutions to conduct electronic commerce across in-store, online, and mobile channels
Wolfspeed (WOLF) - a provider of solutions for efficient energy consumption for various applications including electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense
SolarEdge (SEDG) - maker of an intelligent inverter solution that seeks to maximize power generation while lowering the cost of energy produced by photovoltaic systems
Stem (STEM) - a provider of AI-driven clean energy solutions and services
Teladoc Health (TDOC) - a direct-to-consumer telehealth provider
TransMedics (TMDX) - a medical technology company focused on portable extracorporeal warm perfusion and technologies to preserve organ quality to potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure
Verve Therapeutics (VERV) - a clinical-stage genetic medicines company "pioneering a new approach" to the care of cardiovascular disease
Array Technologies (ARRY) - a provider of tracker solutions and services for utility-scale solar energy projects
Guardant Health (GH) - a precision oncology company
Melco Resorts & Entertainment (MLCO) - a developer, owner, and operator of integrated resort facilities in Asia and Europe
TransMedics (TMDX) - a medical technology company focused on portable extracorporeal warm perfusion and technologies to preserve organ quality to potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure
Unity (U) - operator of a platform for creating and operating interactive, real-time 3D content

Recent news on these stocks:

November 4

Cowen analyst Max Masucci lowered the firm's price target on Guardant Health to $83 from $110 and keeps an Outperform rating on the shares. The analyst said ahead of a landmark ECLIPSE readout as Reveal volumes begin to ramp, he believes Q3 qualitative updates outweigh recalibrated near-term expectations.

Citi analyst Atif Malik lowered the firm's price target on Wolfspeed to $100 from $115 and keeps a Buy rating on the shares after taking over coverage of the name. The analyst believes the semiconductor equipment group has bottomed given the memory pricing collapse, domestic China spend dislocation, and estimate declines. The stocks generally rebound once memory prices hit cash costs and forward estimate revisions bottom approach prior macro corrections, Malik tells investors in a research note.

Citi analyst Atif Malik lowered the firm's price target on Entegris to $92 from $145 and keeps a Buy rating on the shares after taking over coverage of the name. The analyst believes the semiconductor equipment group has bottomed given the memory pricing collapse, domestic China spend dislocation, and estimate declines. The stocks generally rebound once memory prices hit cash costs and forward estimate revisions bottom approach prior macro corrections, Malik tells investors in a research note.

November 3

Guardant Health reports Q3 adjusted EPS ($1.18), consensus ($1.26). Reports Q3 revenue $117.4M, consensus $117.81M. "Volume growth accelerated sequentially in clinical oncology, propelling us to new records in revenue and volumes. We made additional strides with Guardant Reveal, expanding its use into multiple cancer indications that now include colorectal, lung and breast cancers. In addition, Guardant Infinity, our first smart liquid biopsy offering, has seen a rapid uptake with our biopharma partners. That said, counter to our expectations earlier in the year, clinical volumes continue to be impacted by a challenging backdrop with lingering access restrictions and provider staffing shortages." said Helmy Eltoukhy, co-founder and co-CEO. In addition, Guardant Health cut its FY22 revenue view to $440M-$460M from $460M-$470M, consensus $461.29M.

Stem reports Q3 EPS (22c), consensus (17c). Reports Q3 revenue $99.5M, consensus $84.3M. John Carrington, CEO, commented, "We continued to execute well in the third quarter, with record performance across multiple metrics, including revenue, storage AUM, pipeline, and contracted backlog. Revenue was above the top end of our guidance range for the third straight quarter, and margins were in-line with our expectations. Our contracted backlog more than doubled as compared to the same quarter last year, driven by $223 million in bookings, which also more than doubled versus the third quarter of 2021. CARR grew 5% sequentially, to $61 million, reflecting our focus on growing our long-term, high-margin software, and services revenue. We are proud that Stem has been ranked #1 for innovation by Frost & Sullivan in its Optimization and Trading report, another independent testimony to our technology leadership. We applaud the passage of the Inflation Reduction Act of 2022 in August. We expect that the climate provisions in the Act will drive continued investment in America's aging power grid, support further customer adoption of renewable energy, create additional clean energy jobs, and improve energy security by incentivizing the ongoing development of our domestic supply chain. We have started to see an increase in demand from our customers following the passage of the Act, as evidenced by the 29% sequential increase in our 12-month pipeline. In particular, many of our Behind-the-Meter customers are increasing their investments in renewables as a result of the Act. We are reaffirming our full-year 2022 guidance across all of our key metrics, and raising the bottom end of our guidance for bookings. We currently expect our Non-GAAP Gross Margin to trend towards the lower end of our guidance range due to continued supply chain constraints, primarily impacting AlsoEnergy due to delays in solar equipment deliveries. However, we continue to actively manage costs, and therefore expect adjusted EBITDA to trend towards the midpoint of our guidance. As previously discussed, we are actively driving towards achieving positive adjusted EBITDA, which we expect to occur in the second half of 2023, and increasing our profitability in the years to come."

TransMedics reports Q3 EPS (25c), consensus (41c). Reports Q3 revenue $25.7M, consensus $18.87M. TransMedics raised its FY22 revenue view to $80M-$85M from $67M-$75M, FY22 consensus $75.66M.

StoneCo announced that Thiago Piau, the current CEO, will become a Board member of the company, where he will focus his attention on developing key strategic and financial initiatives to help drive the future expansion of StoneCo. Pedro Zinner, a current Board member of StoneCo, will step-down from the Board and succeed Piau as CEO. Zinner will join Stone's executive team no later than March 31st, 2023 and will begin working closely with Piau and the management team in a transition period before taking on the CEO role. Zinner was most recently the CEO of Eneva, one of the leading power-generation companies in Brazil, from 2017 to November 2022.

Craig-Hallum analyst Christian Schwab lowered the firm's price target on Entegris to $102 from $120 and keeps a Buy rating on the shares. The analyst notes Entegris reported results below original expectations provided a quarter ago. He doesn't believe the results should come as a huge surprise to investors given reports from other industry participants as well as Entegris' update at its Analyst Day towards the end of September that they were seeing a softening environment, though they did not formally update expectations at that time.

Deutsche Bank analyst Sidney Ho lowered the firm's price target on Entegris to $90 from $110 and keeps a Buy rating on the shares. The analyst is more cautious on 2023 following the company's results but says the stock selloff is overdone. He finds the valuation attractive at current share levels.

Mizuho analyst Kieran de Brun lowered the firm's price target on Entegris to $112 from $148 and keeps a Buy rating on the shares post the Q3 results. The semi demand outlook has deteriorated since Q2 and export controls are an unexpected headwind, but Entegris continues to post solid growth, de Brun tells investors in a research note. The analyst views yesterday's selloff as a long-term buying opportunity.

November 2

After AMD reported Q3 non-GAAP earnings of 67c that beat his estimate of 53c and missed the consensus view of 70c and guided below consensus, as expected, on PC and Gaming weakness, Northland analyst Gus Richard said it "could have been worse," but added that this "doesn't mean the coast is clear." While the inventory correction for the most part is currently contained to the PC market, he thinks it is likely to expand to the data center and the embedded businesses, said Richard, who keeps a Market Perform rating and $60 price target on AMD shares.

Melco Resorts & Entertainment reports Q3 EPS (53c) vs. (49c) last year. Reports Q3 revenue $241.8M vs. $446.4M last year. Lawrence Ho, Chairman and Chief Executive Officer, commented, "Our results for the third quarter of 2022 were impacted by the casino closures in July and the travel restrictions imposed across mainland China and Macau. In July, the Macau government implemented preventative measures against the pandemic and our casinos were closed for 12 days. Following the re-opening, the operating environment remained challenging given the continuing tight travel restrictions, but we are encouraged by the recent re-opening of Macau to international tourists from designated countries as well as the increase in visitation over the October Golden Week. We are also cautiously optimistic that the granting of e-visas and group visas, which commenced on November 1, 2022, will lead to a gradual increase in visitation. We submitted our proposal to the public tender for the award of new gaming concessions on September 14, 2022 and it has been a smooth and transparent process. We fully support the Macau government's initiatives to further develop Macau as Asia's premier destination for international tourism."

B. Riley analyst Christopher Souther lowered the firm's price target on Ameresco to $72 from $73 and keeps a Buy rating on the shares post the Q3 beat. Ameresco should continue to be a beneficiary of strong macro tailwinds such as robust policy support and high traditional energy prices, Souther tells investors in a research note.

Canaccord analyst George Gianarikas raised the firm's price target on Ameresco to $81 from $79 and keeps a Buy rating on the shares. The analyst said they reported a strong quarter, reiterating guidance metrics for 2022 and he believes 2023 will be a pivotal year for Ameresco, as industry activity levelsinflect higher and renewable project activity accelerates.

Raymond James analyst Melissa Fairbanks lowered the firm's price target on AMD to $80 from $100 and keeps a Strong Buy rating on the shares. While September quarter results were consistent with previewed results, the outlook was somewhat better than feared, particularly against a significantly weakened PC macro, Fairbanks tells investors in a research note. The analyst believes the 2H cuts set a floor for near-term expectations, with a clear path toward longer term growth supported by a roadmap of strong new platform launches across each segment, and industry leading manufacturing partners.

Stifel analyst Ruben Roy lowered the firm's price target on AMD (AMD) to $91 from $100 and keeps a Buy rating on the shares. Despite significantly lower Client revenue, overall sales in Q3 increased 29% year-over-year on strong growth across the Data Center, Gaming and Embedded segments. AMD expects flattish revenue in Q4 as in addition to continued PC demand weakness and inventory digestion, AMD noted pockets of weakness across certain Data Center customers, particularly in the enterprise, consistent with competitor Intel (INTC), Roy noted. He believes that "a bottoming process has begun for the Client Segment" and he expects market share gains in higher value platforms to drive both top line and margin growth longer-term, Roy added.

Entegris reports Q3 non-GAAP EPS 85c, consensus $1.00. Reports Q3 revenue $993.83M, consensus $1.01B. Bertrand Loy, Entegris' president and CEO, said: "Our execution was solid in the Q3, and we are pleased with our proforma 18 percent year-to-date top line growth, especially in light of the growing economic uncertainty and unfavorable impact of foreign currencies. During the quarter, we continued to benefit from strong demand for our advanced solutions, which are of growing importance to our customers' leading-edge technology roadmaps and new facility investments. We are also pleased with our steady progress on the CMC Materials integration. As a part of our assessment of the various parts of the CMC portfolio, we recently announced that we entered into a definitive agreement for Infineum to acquire the Pipeline and Industrial Materials business. Going forward, our focus will be on driving revenue and cost synergies, and continuing to pay down the debt."

Entegris sees Q4 non-GAAP EPS 75c-80c, consensus $1.04. Sees Q4 revenue $930M-$970M, consensus $1.02B. Sees Q4 net income of $42M-$50 and diluted EPS 28c-33c. The company also expects EBITDA of approximately 29% of sales. The company added, "We estimate that the impact of the U.S. government's announced new export controls restricting the sale of semiconductor technology to certain companies in China will reduce sales by approximately $40M-$50M in the Q4 of 2022."

Deutsche Bank analyst Ross Seymore lowered the firm's price target on AMD to $68 from $70 and keeps a Hold rating on the shares. AMD delivered Q3 results in-line with its negative preannouncement, but delivered a below-consensus guide as consumer weakness persists, Seymore tells investors in a research note. While the guidance will lead to another round of estimate cuts on the sell-side, the flat quarter-over-quarter outlook into Q4 is "roughly in-line with buyside expectations," says the analyst. Looking ahead, he believes the key investor debate will be if the guidance and the resulting estimate cuts will provide a sufficiently low bar for a rebound in estimate revisions in 2023.

Piper Sandler analyst Harsh Kumar reiterated an Overweight rating on AMD with a $90 price target following the "in-line" preliminary earnings announcement for the October quarter. December quarter guidance was lower than expected, but there were modest upticks in the data center and embedded businesses that are encouraging, Kumar tells investors in a research note. AMD continues to make progress in its PC inventory clean up, and expectations are that the PC business will only be down modestly in the December quarter, the analyst says. He believes AMD is "going through a bottoming process with its revenues and earnings now."

November 1

AMD reports Q3 EPS 67c, consensus 68c. Reports Q3 revenue $5.57B, consensus $5.62B. "Third quarter results came in below our expectations due to the softening PC market and substantial inventory reduction actions across the PC supply chain," said AMD Chair and CEO Lisa Su. "Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded and game console products. We are confident that our leadership product portfolio, strong balance sheet, and ongoing growth opportunities in our data center and embedded businesses position us well to navigate the current market dynamics."

AMD cuts FY22 revenue view to $23.5B +/- $300M from $26.3B +/- $300M. Consensus $23.88B. The company said, "For the full year 2022, AMD expects revenue to be approximately $23.5 billion, plus or minus $300 million, an increase of approximately 43% over 2021 led by growth in the Embedded and Data Center segments. AMD expects non-GAAP gross margin to be approximately 52% for 2022."

AMD sees Q4 revenue $5.5B +/- $300M, consensus $5.85B. The company said, "For the fourth quarter of 2022, AMD expects revenue to be approximately $5.5 billion, plus or minus $300 million, an increase of approximately 14% year-over-year and flat sequentially. Year-over-year and sequentially, the Embedded and Data Center segments are expected to grow. AMD expects non-GAAP gross margin to be approximately 51% in the fourth quarter of 2022."

Ameresco reports Q3 EPS 54c, consensus 47c. Reports Q3 revenue $441.3M, consensus $426.4M. "Ameresco delivered another quarter of excellent results. We are adapting to the reality of the supply chain environment and continue to execute effectively on our long-term growth strategy. Each of our business lines showed solid year-on-year growth, reflecting the benefits of our diversified business model and our ability to provide customers with innovative end-to-end solutions. The scope and comprehensive nature of our engagements continue to increase, and notable wins in the European market and increasing activity in the commercial and industrial sector demonstrated our success in expanding Ameresco's addressable market," the company stated.

Ameresco backs FY22 EPS view of $1.85-$1.95, consensus $1.90. Backs FY22 revenue view of $1.83B-$1.87B, consensus $1.86B. "Year-to-date results have put us on track to achieve record results in 2022 and provide the foundation for our continued progress in 2023 and beyond. We see high energy prices, together with customer demand for both resilience and cost savings, and the recently enacted Inflation Reduction Act as long-term growth catalysts for Ameresco. These factors strengthen our ability to achieve our 2024 Adjusted EBITDA target of $300 million and continue our growth trajectory in the years ahead. We are pleased to reiterate our 2022 guidance. During 2022, we anticipate placing between 50 and 70 MWe of energy assets in service, while investing approximately $225 million to $275 million of capital, the majority of which we expect to fund with non-recourse debt. We look forward to welcoming analysts and institutional investors on November 15, 2022 for a tour of our Phoenix, AZ RNG facility showcasing the largest wastewater treatment biogas-to-renewable natural gas facility in the US. We look forward to hosting the plant tour followed by a presentation to provide a deeper understanding of Ameresco's RNG business," said CEO George Sakellaris.

JPMorgan analyst Samik Chatterjee lowered the firm's price target on Wolfspeed to $125 from $150 and keeps an Overweight rating on the shares. The company's investor day was a "net negative" as revenue upsides were offset by a lack of details on limiting dilution for the company's large capex plans, Chatterjee tells investors in a research note.

Canaccord analyst George Gianarikas lowered the firm's price target on Wolfspeed to $111 from $114 and keeps a Buy rating on the shares. The analyst said management said the The SiC "revolution" is no longer an evangelical sale, but happening now at an accelerated pace as evidenced by the company's ballooning backlog and design-ins. As such, management raised much of its forward revenue guidance and articulated a first view into 2027.

Macau's gaming bureau reported October gross revenue from games of fortune in the region was down 10.7% year-over-year to 3.899B patacas. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Resorts (MLCO).

Nio announced its October delivery results. Nio delivered 10,059 vehicles in October, representing an increase of 174.3% year-over-year. The deliveries consisted of 5,979 premium smart electric SUVs including 2,814 ES7s, and 4,080 premium smart electric sedans including 3,050 ET7s and 1,030 ET5s. The vehicle production and delivery were constrained by operation challenges in plants as well as supply chain volatilities due to the COVID-19 situations in certain regions in China. Cumulative deliveries of Nio vehicles reached 259,563 as of October 31. In October, NIO unveiled ET7, EL7 and ET5 for the European markets at the NIO Berlin 2022. These products are gradually made available for order in Norway, Germany, the Netherlands, Denmark and Sweden through NIO Subscription, leasing programs, and direct sales to users.

XPeng announced its vehicle delivery results for October. XPeng recorded monthly deliveries in October of 5,101 Smart EVs, consisting of 2,104 P7s, the company's smart sports sedan, 1,665 P5 smart family sedans and 709 G3i smart compact SUVs. October deliveries also included 623 G9 SUVs, the company's fourth production model launched in September. Mass deliveries of the G9 began on October 27, reaching customers in over 100 cities across China.

Piper Sandler analyst David Westenberg downgraded Guardant Health to Neutral from Overweight with a price target of $50, down from $65. The analyst remains bullish on Guardant's colorectal cancer screening offering but has concerns over the "event path of the stock as it moves to read out, a potential financing, and commercial and payor execution." The best course of action for investors is to wait until after colorectal cancer screening sees early penetration, Westenberg tells investors in a research note.

October 31

Chinese authorities said Monday mainland residents can apply for electronic travel permits for Macau starting from November 1, Reuters' Farah Master and Twinnie Siu reported. At the same time, authorities in Macau have reinstated strict Covid-19 measures, including locking down a major casino over the weekend after a handful of cases were detected. Authorities locked down the MGM Cotai casino resort owned by MGM China (MGM) on Sunday, with staff and guests ordered to stay inside until November 1. All of Macau's 700,000 residents have been mandated to take rapid antigen tests daily from Sunday to November 1 at least and will have to take an official PCR test on Tuesday, according to the report. Other publicly traded companies in the Macau gaming space that may be impacted by the news include Las Vegas Sands (LVS), Wynn Resorts (WYNN) and Melco Resorts.

Verve Therapeutics announced that preclinical data supporting VERVE-101 as a treatment for heterozygous familial hypercholesterolemia, HeFH, a genetic form of atherosclerotic cardiovascular disease, ASCVD, has been published in the American Heart Association's peer-reviewed journal Circulation. The published findings are from a study in non-human primates, in which animals received a one-time infusion of a control or VERVE-101 at a dose of 0.75 mg/kg or 1.5 mg/kg. "The totality of data generated for our VERVE-101 program support our ongoing heart-1 global clinical program and the potential of VERVE-101 as a single-course treatment for HeFH. The consistency of preclinical data showing durable editing of the PCSK9 gene and lowering of LDL-C, combined with these new findings showing no evidence of germline transmission, bolster our confidence in the potential for VERVE-101 to offer a long-term, well-tolerated treatment for patients with HeFH and for patients with established ASCVD not at LDL-C goal on oral therapy," said Andrew Bellinger, M.D., Ph.D., chief medical and scientific officer of Verve.

Northland analyst Gus Richard downgraded AMD (AMD) to Market Perform from Outperform with a price target of $60, down from $80. He thinks demand indigenousness to China will be "very slow to recover" while ARM CPU market share gains will continue, particularly in China, Richard tells investors. In addition, Intel (INTC) will likely have access to better transistors in desktop CPUs in calendar 2023 and "at a minimum slow the loss of market share," Richard contends.

About "Sell these stocks now"

Each week, The Fly will announce the newest downgrades to Strong Sell in StockNews.com's POWR Ratings algorithmic model.

This Fly exclusive recap identifies stocks with over a $1B market capitalization that have been downgraded this week to the Strong Sell, or "F," rating in the service's proprietary model that analyzes 118 different factors, each of which contribute a little to the stock's predicted likelihood of underperformance. A bell curve distribution of StockNews.com's ratings shows that only the top 5% of the over 5,000 stocks rated by the system are assigned a "Strong Buy," or "A," rating while the bottom 5% are assigned a Strong Sell. The F-rated stocks would have tumbled an average of 18.98% a year since 1999, according to StockNews.com.