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MarketBeat: Week in Review 11/7 – 11/11

After a week that saw the market move sharply in both directions, the crypto crash appears to be ending the epic rally that occurred when the CPI report came in lower-than-expected. And shortly after the market opens, the University of Michigan reading on consumer sentiment is also likely to impact markets. Next week, investors will get another data point on inflation when the PPI report is released. Investors will also get an idea of what retailers expect this holiday season. Plus, there will likely be more clarity on the results of the mid-term elections. With so much volatility, it’s important to remember that there’s money to be made in any market. The goal of the MarketBeat team is to point investors to the stocks to watch and the ones to avoid. Here are some of the most popular articles from this week.

Articles by Jea Yu

Many market watchers are waiting for retail investors to throw in the towel. If the earnings report from Charles Schwab (NYSE:SCHW) has anything to do with it, they may be waiting a little longer. As Jea Yu writes, the company not only reported record net income but trading volume remains the same from 2021. Yu was also writing about the attractive valuation of Goodyear Tire & Rubber Company (NASDAQ:GT). With drivers returning to the road, the market share leader in replacement tires is seeing strong growth despite navigating the effects of higher interest rates and a strong dollar. Turning his attention to the semiconductor sector, Yu was writing that Advanced Micro Devices (NASDAQ:AMD) may be suffering from a case of lofty expectations. As Yu points out the company still has strong fundamentals, but it faces tough comparisons from 2021.

Articles by Thomas Hughes

Mullen Automotive (NASDAQ: MULN) became a big story last week and this week momentum was building for the small-cap EV company. And Thomas Hughes was closely tracking the rise in short interest on the stock and cautioned MULN bears that there’s  a risk of a short squeeze. Sticking in the EV sector, Hughes pointed investors to two EV stocks that are moving in different directions today, but look supercharged for growth in 2023 and beyond. Hughes was also looking at the current situation surrounding Palantir (NYSE: PLTR). The company delivered a strong earnings report. And although the strength of future growth remains unclear, Hughes notes that analysts and investors alike are beginning to believe that PLTR looks like a good value at its current price.

Articles by Sam Quirke

Sometimes stocks can start to fall so low that all the bad news is priced in. As Sam Quirke notes, that seems to be the case with Disney (NYSE: DIS). The company missed on both its top and bottom lines and the weakness is coming from its streaming service. Disney is a sum-of-its-parts stock and was picked up by its theme parks business. And as Quirke points out, if the streaming numbers improve slightly, DIS stock may offer real value. Quirke was also looking at Activision Blizzard (NASDAQ:ATVI) which delivered better-than-expected earnings that may temporarily take the attention off of the company’s deal with Microsoft (NASDAQ:MSFT) which is facing regulatory scrutiny.  

Articles by Chris Markoch

If gold is an inflation hedge, it’s certainly not acting like it. The yellow metal has stayed remarkably steady as rising inflation creates a stronger dollar which is fueling a flight to cash. And that dynamic has affected mining stocks like Barrick Gold (NYSE: GOLD). The company is reporting declining production. And as Chris Markoch writes, with not much movement in the price of gold, there’s not much to get excited about with GOLD stock. On a more bullish note, Hershey’s (NYSE: HSY) gave investors a great earnings report and guidance. With a high valuation, Markoch cautions some profit-taking may be in order, but HSY stock still appears to be a sweet buy for 2023. The same can’t be said for Hanesbrands (NYSE: HBI). The company missed on the top and bottom lines and could be a harbinger of what the retail sector will report next week.

Articles by Kate Stalter            

Investors can use times like these to build a list of stocks to watch for when the bear market ends. The semiconductor sector is likely to be a sector that leads the economic recovery. And Kate Stalter wrote that GlobalFoundries (NASDAQ: GFS) just delivered a strong earnings report backed by equally strong guidance. That combination is what many investors look for in a watchlist candidate. And, although its guidance is as bullish as GlobalFoundries, Stalter also believes that growth-minded investors should consider The Trade Desk (NASDAQ: TTD) which is a leader in digital advertising, particularly of the targeted variety used by streaming services. On a cautionary note, Stalter looked at Lucid Motors (NASDAQ: LCID) which is delivering vehicles, but not as many as first estimated. Supply chain issues are still keeping production in check which will continue to serve as a headwind on LCID stock as well as the stocks of other EV manufacturers.

Articles by MarketBeat Staff

Amazon (NASDAQ: AMZN) stock has underperformed in 2022. That’s something that investors aren’t used to. However, the MarketBeat staff gives investors three reasons why AMZN stock is well-positioned for a strong performance in 2023. The outlook isn’t as bright for Skechers (NYSE: SKX). The company was expanding as the economy reopened in 2021. But as a company that has its supply chain closely linked with China, it’s finding it difficult to gain traction amidst the company’s ongoing Covid restrictions. The staff was also focusing on the electric vehicle industry. However, instead of looking at some of the emerging companies in the sector, we were looking at three old-school automakers that are ready to start mass-producing EVs as early as 2023.

 

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