5 Corporate Giants That Popped After Latest Earnings Release
Zacks Investment Research | Nov 20, 2019 07:58AM ET
U.S. stocks are firing on all cylinders, with major stock indexes hitting fresh highs for a record number of times in 2019. At present, Wall Street seems unstoppable despite any concrete resolution to the more-than-a-year-old U.S.-China trade conflict.
Meanwhile, a few corporate behemoths that reported their last earnings results less than five weeks ago, popped after releasing earnings results. Fundamental robustness of those companies, strong growth potential and a broad-based Wall Street rally helped those stocks to move northward.
Near-Term Catalysts
A fundamentally stable U.S. economy, which is growing for the historically longest 11 years, albeit with some loss in pace and a dovish monetary stance adopted by the Fed in 2019 are the two major drivers of the Dow. The central bank cut the benchmark interest rate by 75 basis points in 2019. Furthermore, the government bond yield curve has steadied, eliminating fears of an impending recession.
U.S. consumer spending remained strong and the labor market remained firm with strong job addition and wage growth. Of late, some economic data have indicated a slow turnaround in U.S. manufacturing, which was hit hard due to the lingering tariff war with China. Last but not the least is the possibility of a trade deal with China this year that could be a major booster of market participants’ sentiment.
5 Corporate Giants Rally After Earnings Release
We have narrowed down our search to five large-cap stocks with market capital greater than $100 billion, which released their latest earnings results in less than five weeks ago. These stocks have soared in a short time span and still have upside left. Each of these stocks carries either a Zacks Rank #2 (Buy) or 3 (Hold). You can see Original post
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