Financial News
MarketBeat Week in Review – 6/3 - 6/7
After dropping initially, equity markets are shrugging off a much hotter-than-expected jobs report. While not a full-fledged rally, the market seems to be ignoring the headline number and paying more attention to the details inside the report. That headline number showed that 272,000 jobs were created in May 2024, much more than the 190,000 jobs expected.
A number like that would seem to cut any thoughts of an interest rate cut before November. However, as more than 600,000 viewers of Keith Gill's (aka Roaring Kitty) livestream showed, this market doesn't need much reason to become bullish.
Investors will receive updated inflation data when the latest readings on the consumer price index (CPI) and producer price index (PPI) are released next week. With the market between earnings seasons, this could cause an outsized market move in one direction or another.
Articles by Jea Yu
This week, Jea Yu wrote about the surge in Zim Integrated Shipping Service Ltd. (NYSE: ZIM) stock, which was already up 128% before reporting earnings. The company is benefiting from shipping rates that have tripled due to the Red Sea conflict. That's not the same as saying demand is strong, but Yu explains how investors can profit from the move.
Yu also wrote about the earnings report from C3.ai Inc. (NYSE: AI). The company has largely failed to live up to the AI hype, but 20% year-over-year revenue growth in its last quarter may be the first sign the company's fortunes are changing.
Although AI will continue to be a hot sector for investors, another series of letters will follow from companies in the GLP-1 business. That's the abbreviation for Glucagon-like peptide-1, the key hormone targeted by weight loss drugs. Hims & Hers Health Inc. (NYSE: HIMS) is the latest company to enter this market, and Yu explains how you might think of getting involved.
Articles by Thomas Hughes
While not 100% accurate, analyst upgrades have a strong track record of predicting future success for stocks. That's why you should check out Thomas Hughes's article about the stocks receiving the most analyst upgrades after they've reported earnings.
Congressional buying and selling stirs investors' passions. However, it's fair play until it's not, and Hughes points investors to the most bought and sold stocks by members of Congress this quarter.
It's been a bad year for Tesla Inc. (NASDAQ: TSLA). And as Thomas Hughes points out, it may get worse. Hughes explains why short-term headwinds are putting the company's valuation in the crosshairs, and while the true believers still believe it's more than a car company, that may not be enough to prevent a bigger drop in TSLA stock.
Articles by Sam Quirke
When an AI software company like MongoDB Inc. (NASDAQ: MDB) stock drops over 25% despite posting impressive revenue and earnings beats, investors have to wonder why. In this case, it was guidance and the idea that a company like MongoDB may be ahead of the current growth in AI. Nevertheless, Sam Quirke reminds investors that analysts still love the stock, which could make this a buyable dip.
Speaking of buying stocks on the dip, Quirke was writing about what looks to be a pattern reversal for Amazon.com Inc. (NASDAQ: AMZN). The stock hit resistance at its 52-week high in early May, but Quirke explains why it looks like that pullback is over and it may be time for investors to buy back in as the stock may push past what has been a key level of resistance.
Articles by Chris Markoch
It's always tricky to talk about a stock being "the next" something. That's exactly what Chris Markoch did this week when analyzing the earnings report from Birkenstock Holding plc (NYSE: BIRK). The company has a much higher valuation than Crocs Inc. (NASDAQ: CROX), but Markoch points out that the two companies may have more similarities than their cult-like footwear.
Markoch was also writing about Chevron Corp. (NYSE: CVX). The stock has underperformed the broader market even as it continues to deliver record output. For a short-term trader, Chevron may be dead money, but if you're looking at the long term, CVX stock is an attractive play.
Articles by Ryan Hasson
While investors' eyes remained glued on Nvidia (or maybe Roaring Kitty) this week, Ryan Hasson wrote about the stellar earnings report from Verint Systems Inc. (NASDAQ: VRNT). The stock is up 35% in 2024, and as Hasson notes, the company raised its guidance with the expectation of AI-fueled growth that may give the stock room to run.
Hasson also wrote about the four stocks receiving a significant and recent amount of insider buying. Remember, investors sell stocks for many reasons, but they only usually buy when they believe the stock will move higher.
Articles by Gabriel Osorio-Mazilli
We couldn't let this week pass without at least one article covering the price action happening with one of the market's favorite meme stocks, GameStop Corp. (NYSE: GME). Gabriel Osorio-Mazilli wasn't the only analyst to cover what's happening with the meme stock, but if you haven't been keeping up with the hype, this will help you understand why the stock was so volatile this week.
A distinguishing feature of GameStop is high short interest that could produce a short squeezethat'shat's a way you like to trade, Osorio-Mazilli points out three stocks with high short interest that could be ready to squeeze higher for investors.
Osorio-Mazilli also had his eyes on the closely watched cybersecurity sector and analyzed two cybersecurity stocks that were drawing bullish attention from institutional investors and analysts. With short sellers in retreat, these stocks may merit a place on your watchlist.
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.