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MarketBeat Week in Review – 3/6 - 3/10

Stocks are down sharply to end the week, and by now the reasons are all too familiar to investors. The bottom line is that the economy is struggling, and the Federal Reserve has no plans to come to the rescue. Today’s jobs number suggests that employment remains strong. But there is some data to suggest the pace of hiring is slowing. The playbook remains the same for investors, at least those who are looking to stay in equities. Look for solid, dividend-paying stocks. And as you’ll see from a selection of our most popular articles, that’s what the MarketBeat analysts continue to believe as well.  

Articles by Jea Yu 

Jea Yu’s advice to investors looking for dividend yield is to go where the money is. In this case, he means looking at regional banks stocks that can offer investors room for growth as well as dividend yields that are usually better than the market average. Yu double-dipped on dividend advice by offering investors two DRIP stocks for long-term investors looking to take advantage of compound interest. But if you’re an investor who is still looking for growth, Yu had a couple of stocks to look at in two hot sectors. Artificial intelligence remains as hot as ever. Are you looking for an under-the-radar AI stock? Schrodinger Inc. (NASDAQ: SDGR) sells AI-powered drug discovery software and services to the biopharma industry, but the company is not yet profitable and will burn cash for the rest of this year. And at a time when some investors are looking at gold and copper, Yu suggests looking at Cameco Corporation (NYSE: CCJ) which is the one of the world’s leading uranium producers.  

Articles by Thomas Hughes 

Analyst ratings are a useful predictor of a company’s performance. That’s particularly true when those rating are supported by corresponding technical signals. This week Thomas Hughes gave investors three stocks receiving upgrades that are showing signs of a technical reversal. Hughes was also looking at three downgraded stocks that still have a strong case for buying. And Mullen Automotive (NASDAQ: MULN) was back in the news. MULN stock has been one of the biggest stories of 2023. And Hughes has been all over what this means for investors. This week, Mullen partnered with Rapid Response Defense Systems and potentially could be  awarded a contract from the U.S. government. The deal should provide the company with predictable revenue, but the more pressing matter is the company’s need to get its stock price above the $1 mark. 

Articles by Sam Quirke 

If investors are looking for a diamond in the rough, Sam Quirke suggests they may want to look at Sea Limited (NYSE: SE). The Singapore-based tech company is a winner in a week when the market was selling off. A bullish earnings report may be a catalyst that allows SE stock, which is already up 95% from its November low, to move even higher. Quirke was also looking at Rivian (NASDAQ: RIVN). Stock of the EV maker is at fresh lows but is making moves that would seem to keep it well capitalized as it ramps up production. If that’s the case, then RIVN stock may be at a buyable bottom.  

Articles by Chris Markoch 

Fundamentals like looking at a company’s cash flow documents can seem boring. But as Chris Markoch points out, it can lead to bullish signals. That’s the case with Solo Brands, Inc. (NASDAQ: DTC) that is showing improvement in a key financial metric that should have the stock moving higher. One company that is showing good fundamental strength all the way around is Casey’s General Stores, Inc. (NASDAQ: CASY). For investors looking for both growth and yield, Casey’s delivered a strong earnings report and has the attention of analysts. And while this week’s job’s report showed that employers are still hiring, Markoch points out that management’s comments in the Korn Ferry (NYSE: KFY) earnings report may point to some weakness in employment later this year.  

Articles by Kate Stalter 

Medical device companies would seem to be a hot sector. But supply chain issues have weighed on these stocks in the last two years. But as Kate Stalter notes, those concerns are being resolved which means it’s time for investors to look at the catalysts that are pushing this sector higher. Another sector that Stalter was looking at was oil transportation stocks. But instead of looking at pipeline stocks as you might expect, Stalter was pointing investors towards oil tanker stocks that are showing technical signs of being in a buy zone. Another area Stalter was eyeing was “newly” public stocks. Newly is in quotes because as Stalter writes, “the definition of newly public can be stretched several years” which means that investors are getting a second chance to buy into these three stocks.  

Articles by MarketBeat Staff 

What goes up, often comes down. And that’s the case with Etsy, Inc. (NASDAQ: ETSY). The company was one of the darlings of the pandemic as many people started or rekindled their side hustle. But the consumer shift from stuff to services has sent the stock plunging. The question is whether the new normal for Etsy will be a predictor of future performance. Another stock that is sharply selling off is United Natural Foods, Inc. (NYSE: UNFI). But in the case of UNFI, the MarketBeat staff explains why the sell-off seems overdone and could be a buying opportunity. The staff was also looking at dividend stocks. In this case, it was looking at a group of stocks known as Dividend Challengers and gave millennial investors three stocks that they can consider for their buy-and-hold portfolio.  

 

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