The Zacks Analyst Blog Highlights: Hasbro, Agnico Eagle Mines, CoreLogic, Meritage Homes And Deckers Outdoor
Zacks Investment Research | Oct 16, 2019 11:29PM ET
For Immediate Release
Chicago, IL – October 17, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Hasbro Inc. (NASDAQ:HAS) , Agnico Eagle Mines Ltd. (NYSE:AEM) , CoreLogic Inc. (NYSE:CLGX) , Meritage Homes Corp. (NYSE:MTH) and Deckers Outdoor Corp. (NYSE:DECK) .
Here are highlights from Wednesday’s Analyst Blog:
These Must-Buy Stocks Looks to Beat Q3 Earnings Estimates Next Week
Wall Street suffered from severe volatility in the third quarter of 2019 as trade tensions between the United States and China heightened. Global economic slowdown intensified owing to lingering trade conflict between the two largest trading countries of the world. Moreover, geopolitical crisis in the Middle East resulted in crude oil supply disruption.
Against the backdrop of several economic and financial hurdles, market participants will keenly watch out for third-quarter 2019 earnings results of U.S. corporates that gather pace from this week.
Third Quarter at a Glance
Wall Street started third quarter of 2019 with the continuation of the bull run. However, the rally ended in August owing to inversion of the government bond yield curve which many economists believe is a sign of an impending recession. Trade jitters, yield curve inversion and global economic slowdown, especially in the Eurozone significantly dented investors’ confidence.
Moreover, geopolitical conflict in the Middle East between Iran and Saudi Arabia, and the drone attack on Saudi Arabia’s largest oilfield resulted in a temporary oil shock. Meanwhile, Brexit-related problems prolonged and political turmoil in Italy injected volatility in the stock markets.
In the United States, economists and financial experts stayed confused with several mixed economic data. However, as a major relief to the market, the Fed reduced the benchmark interest rate by 50 basis points in two tranches during the third quarter. Notably, rate cut happened for the first time in the more than a decade.
Finally, the third quarter was a mixed bag unlike the first two quarters when the Wall Street bulls had staged a continued rally. In the period under review, the Dow and the S&P 500 gained 1.2% each while the Nasdaq Composite suffered a marginal loss of 0.1%.
Weak Earnings Expectations for Third Quarter
The third-quarter earnings estimate is currently negative. At present, total third-quarter earnings for the S&P 500 Index are expected to be down 5% from the prior-year period on 4.2% higher revenues. However, the initial estimates of both first and second-quarter earnings were negative too, while the actual results were far better than the estimates. Notably, on Oct 15, several major banks and medical companies reported strong earnings results. The major thrust of earnings results will be felt in the next 2-3 weeks.
5 Stocks Set to Beat on Earnings Next Month
At this stage, it will be prudent to invest in stocks with a favorable Zacks Rank and positive Zacks Investment Research
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