Market Tumbles On NASDAQ Rotation, Trade, And Fed Tightening Fears
ValuEngine | Oct 11, 2018 01:06AM ET
Markets took a huge dive today as a variety of fears weighed on investor sentiment and triggered a big sell off. Tech stocks took a big beating as many high-fliers got severely cut down. NASDAQ Composite is down almost 8% for the month–that is the worst it has performed during the fourth quarter since the Great Recession began back in 2008.
As the sell off spread today, companies heavily tied to the global economy were also battered. Investors are worried about global trade and the effects of the Trump Administration’s tariff wars with China and other nations. They are also worried about the Fed’s belt-tightening as the US Central Bank continues to clear its balance sheet of assets from the ZIRP days. In addition, the yield curve for bonds is sending a sell signal for equities as well.
So, is this a momentary glitch or something different? Do we have some momentary noise here or the beginning of the end for the Bull Market that started way back in March 2009? That’s tough to say. But investors today looked to the Utilities Sector for shelter from the storm. Those “un-sexy” companies are traditionally the sort of stocks for those worried about the future and unable to force themselves to buy on the dip.
For today’s edition of our bulletin, we used our website’s advanced screening functions to search for top utilities stocks with complete forecast and valuation data. They are presented by one-month forecast return. Our top five stocks from the sector are listed below. Vonage is rated STRONG BUY. The rest of our top-five utilities stocks are rated BUY.
Today, we take a look at Vonage Holdings Corp (NYSE:VG). Vonage is redefining communications by offering consumers and small businesses an affordable alternative to traditional telephone service. The fastest growing telephony company in North America, Vonage’s service area encompasses more than 2000 active rate centers in over 130 global markets. Vonage is sold directly through their website and retail partners such as SAM’s Club, Amazon.com (NASDAQ:AMZN), RadioShack, Best Buy, Circuit City, Staples, Fry’s Electronics and Office Depot. Wholesale partners such as EarthLink, ARMSTRONG(R), Advanced Cable Communications and the Coldwater Board of Public Utilities resell the Vonage broadband phone service under their own unique brands. With more than 300,000 lines in service, Vonage continues to add more than 30,000 lines per month to its network. Over 10 million calls per week are made using Vonage, the easy-to-use, feature-rich, flat rate phone service.
Get The News You Want
ValuEngine continues its STRONG BUY recommendation on VONAGE HOLDINGS for 2018-10-09. Based on the information we have gathered and our resulting research, we feel that VONAGE HOLDINGS has the probability to OUTPERFORM average market performance for the next year. The company exhibits ATTRACTIVE Momentum and Sharpe Ratio.
You can download a free copy of detailed report on Vonage Holdings (VG) from the link below.
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.