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Investors rallied the market late in the week ahead of the Labor Day weekend. The major indexes moved mostly higher to end the month up despite the latest reading of the Personal Consumption Expenditures (PCE) index meeting expectations. September is historically the worst month of the year for stocks as institutional investors jump back into the market. That’s particularly true during an election year that adds to investor uncertainty. In the short term, that may outweigh expectations for a rate cut which may turn out to be a sell the news event. Next week will be a shortened trading week with markets closed for the Labor Day holiday. But investors should still expect volatility ahead of the jobs report which will be released on Friday, September 6. The MarketBeat team will keep you on top of the market-moving stories. Here are some of our most popular stories from this week. Articles by Jea Yu Corporate insiders have many reasons to sell a stock, but the only reason they buy is because they expect their company’s stock is undervalued. That’s why you’ll want to read what Jea Yu writes about the $10 million stock purchase made by the CEO of Mobileye Global Inc. (NASDAQ: MBLY). The company develops advanced driver assistance systems (ADAS) solutions that may get a boost from the growth of autonomous vehicles. Yu also wrote about the latest earnings report from Akamai Technologies Inc. (NASDAQ: AKAM). The company operates one of the leading content delivery networks (CDNs) and could get an AI boost for its edge computing and cybersecurity businesses. Yu also checked in on QuantumScape Co. (NYSE: QS) which is getting closer to the commercial rollout of its solid-state lithium battery in 2025. Yu explains why the recent pullback in QS stock may be a buying opportunity for risk-tolerant investors. Articles by Thomas Hughes All eyes were on NVIDIA Corp. (NASDAQ: NVDA) which reported earnings this week. Thomas Hughes explains why the company’s strong report may have still disappointed some investors. NVDA stock dropped more than 10% at one point after earnings, but Hughes explains that despite the likelihood of more volatility, this is a buyable dip. As earnings season winds down, analysts' forecasts are separating stocks that are winners from stocks that are losers. Hughes writes about three buy-and-hold stocks that look more attractive after a series of analyst upgrades. After a rough couple of years, the expectation of rate cuts may be a catalyst for small-cap stocks. Hughes analyzed three small-cap stocks that may be moving from trades to long-term investments. Articles by Sam Quirke While all eyes were on NVIDIA this week, Sam Quirke reminds investors that sometimes a stock can become too cheap to ignore. Snowflake Inc. (NYSE: SNOW) continues to trade near its 52-week low despite a strong earnings report. However, Quirke notes that upcoming rate cuts may be just one catalyst that the cloud-based data storage provider needs to move higher. From a stock trading near its 52-week low to one trading at its 52-week high, Quirke wrote about why investors are bullish on Meta Platforms Inc. (NASDAQ: META). However, he also explains why recent upgrades suggest there may be a 20% rally in META stock before the end of the year. Quirke also analyzed Netflix Inc. (NASDAQ: NFLX) which is also trading near its 52-week high. The stock price has been lifted by multiple catalysts, and recent analyst upgrades point to even higher highs for the streaming giant. Articles by Chris Markoch While past performance doesn’t guarantee future results, it’s one of the better predictors of stock price performance for the right companies. This week, Chris Markoch pointed investors to three growth stocks that are among the best options for investors looking for stocks to buy-and-hold for the next 10 years. Markoch also wrote about the earnings report from Pure Storage Inc. (NYSE: PSTG). The stock dropped sharply on weak guidance. However, Markoch explains why NVIDIA’s bullish outlook for CAPEX spending to meet the needs of AI applications may mean Pure Storage’s guidance may be too conservative. And although Five Below Inc. (NASDAQ: FIVE) delivered a solid earnings report highlighted by strong revenue growth, the weak outlook on consumer spending from Dollar General Corp. (NYSE: DG) is turning FIVE stock lower and investors may have to wait a couple of quarters to see if the company’s inflation-beating strategy will work. Articles by Ryan Hasson Chinese stocks have been in a downtrend as the country’s economy has been struggling. However, Ryan Hasson notes that with China’s economy showing signs of recovery it may be time to invest in three Chinese stocks that are a favorite of Michael Burry. During times of market volatility, investors are looking to find undervalued stocks. This week, Hasson points investor to three fundamentally undervalued stocks that are getting bullish ratings from analysts. And if dividend stocks are your preference for stocks to consider during times of volatility, Hasson has three high-yield dividend stocks that analysts believe continue to have massive upside. Articles by Gabriel Osorio-Mazilli This week investors sold the rumor and the news regarding a Hindenburg report about accounting irregularities with Super Micro Computer Inc. (NASDAQ: SMCI). These reports are always reason for some concern, but Gabriel Osorio-Mazilli explains why investors may want to place more weight on analyst sentiment which continues to be bullish for SMCI stock. Dividend stocks can be an attractive choice as interest rate cuts make risk-off assets like Treasury bonds less attractive. This week, Osorio-Mazilli looked at three dividend stocks that may be attractive choices after recently increasing their payouts. And although it’s been a difficult year for energy stocks, oil prices are starting to move higher and may really take off after interest rate cuts. That’s why Osorio-Mazilli gives you three oil stocks you’ll want to consider to ride this breakout. Articles by Leo Miller Many investors are perplexed by the strength of the consumer. However, as Leo Miller writes this week, the bullish earnings report from Affirm Holdings Inc. (NASDAQ: AFRM) highlights the extent to which consumers are using buy-now-pay-later (BNPL) financing. This may have negative implications for those consumers, but it’s unquestionably bullish for AFRM stock. And the company’s partnership with one of the Magnificent 7 stocks may leave even more upside for investors. Miller also wrote why investors who may have walked away from Allied Digital Corp. (NASDAQ: APLD) due to its heavy focus on crypto mining may want to rethink that approach. The high-performance computing company that designs, builds, and operates data centers is putting more emphasis on artificial intelligence (AI) tasks. Polestar Automotive Holding (NASDAQ: PSNY) is another penny stock that investors have been walking away from. Miller writes why the company’s latest earnings report is giving PSNY stock a boost that may allow the company to fight another day. But investors will want to see the impact of its new vehicles before making an investment decision. Articles by Nathan Reiff A lot of the attention around diabetes drugs focuses on GLP-1 drugs. However, this week, Nathan Rieff explained why investors shouldn’t be too quick to ignore a company like Medtronic PLC (NYSE: MDT) that makes continuous glucose monitors and automated insulin delivery systems; two markets that continue to see impressive growth. Reiff was also analyzing the market-beating growth in the stock price of Lumen Technologies Inc. (NYSE: LUMN). Investors like the company’s foray into AI initiatives, but Reiff notes that analysts don’t share this enthusiasm, and the company’s reliance on debt should give investors a reason to proceed cautiously. And Reiff also explains why the solar industry’s surplus of inventory may be an opportunity for Daqo New Energy Corp. (NYSE: DQ) and JinkoSolar Holding Co. (NYSE: JKS). These companies are making strategic adjustments, and a sector-wide pause may give the company’s time to catch up.
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Saturday, 31 August 2024
🌎 The Weekly Wrap-Up for 8/31/2024
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