5 Top-Ranked Stocks Crushing The Market In June
Zacks Investment Research | Jun 14, 2019 08:43AM ET
Although worsening U.S.-China trade dispute and global growth worries are shaking the stock market now and then, Wall Street has staged a nice comeback from the May swoon on hopes of monetary easing policies.
Fed Chair Powell initially suspended the three-year monetary policy tightening program this year and has now signaled rate cuts if needed. The Fed is closely monitoring the implications of trade tensions on the economy and would act as appropriate to sustain the expansion, given a strong labor market and inflation near 2% target.
The latest weak job data and subdued inflation stirred speculation on interest rate cuts. Lower interest rates will keep borrowing cost down, thereby resulting in higher consumer spending and rise in economic activities. Further, the possibility of rate cuts has put pressure on the U.S. dollar, making the dollar-denominated products cheaper for foreign buyers and thus raising demand for American products.
Additionally, recovery in U.S. housing market, Trump’s suspension of the planned tariffs against Mexico and wave of mergers and acquisitions added to the strength. Further, the American economy is on a slower growth path buoyed by strong job growth, rising consumer confidence, and higher consumer spending.
While there are winners from various corners of the space, some stocks have been crushing the brood market and have a solid Zacks ETF Rank #1 (Strong Buy) or 2 (Buy). Below we have presented a bunch of those that are easily leading the way higher this month and will continue to outperform for the rest of the month given their superior fundamentals. You can see .
JinkoSolar Holding Company Limited (NYSE:JKS) – Up 22.9%
The company is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. The stock saw positive earnings estimate revision of a penny for this year in a month and has an estimated earnings growth rate of 81.7%, higher than the industry’s average growth of 79.2%. The stock has a market cap of $685.3 million and carries a Zacks Rank #1. It flaunts a solid VGM Score of B.
Get The News You Want
Salem Media Group Inc. (NASDAQ:SALM) – Up 22.7%
It is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. The stock saw no earnings estimate revision for this year over month with an expected earnings growth rate of 216.7%, compared with the industry’s average earnings decline of 7.3%. SALM has a market cap of $61.8 million and carries a Zacks Rank #1. Its VGM Score stands at B.
Ciena Corporation (NYSE:CIEN) – Up 21.6%
This is a network specialist, focused on expanding the possibilities for its customers' networks while reducing their cost of ownership. The stock saw solid earnings estimate revision of 18 cents for the year (ending October 2019) over the past month and has an expected growth rate of 43.2% — higher than the industry’s average growth of 40.3%. It has a Zacks Rank #1 and VGM Score of A. Ciena Corporation has a market cap of $6.7 billion.
DexCom Inc. (NASDAQ:DXCM) – Up 20.6%
This company is developing continuous glucose monitoring systems for people with diabetes. With a market cap of $13.2 billion, the stock witnessed no earnings estimate revision for this year in the past month. It has an estimated earnings growth of 166.7%, higher than the industry’s average growth of 13%. The stock has a Zacks Rank #2 and VGM Score of B.
Zumiez Inc. (NASDAQ:ZUMZ) – Up 17%
With a market cap of $583.3 million, Zumiez is a leading specialty retailer of apparel, footwear, accessories and hardgoods for young men and women who want to express their individuality through the fashion, music, art and culture of action sports, streetwear, and other unique lifestyles. The stock saw positive earnings estimate revision of 4 cents for the year (ending January 2020) over the past month with an expected earnings growth rate of 5.6% versus 1.3% industry’s decline in earnings It has a Zacks Rank #2 and VGM Score of A.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.