The Zacks Analyst Blog Highlights: Medallion Financial, Mr. Cooper, RCI Hospitality And Evercore

For Immediate Release

Chicago, IL – March 11, 2020 – 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: Medallion Financial Corp. (NASDAQ:MFIN) , Mr. Cooper Group Inc. (NASDAQ:COOP) , RCI Hospitality Holdings, Inc. (NASDAQ:RICK) and Evercore Inc. (NYSE:EVR) .

Here are highlights from Tuesday’s Analyst Blog:

4 Value Stocks to Buy Amid Market Meltdown

The infectious coronavirus that is spreading fast around the globe has clearly taken a toll on global financial markets. In the United States, major benchmarks suffered severe losses in the past few weeks as investors continue to flee stocks for safer grounds, such as precious metals.

Amid the current market gyration, investors could instead consider value stocks that are trading far lower than what they are worth.

Markets Dictated by Coronavirus Fears and Sliding Oil Prices

In the Mar 9 trading session alone, all three major U.S. indexes declined more than 7%, marking the biggest single-day loss since 2008. The U.S. equities now inch dangerously close to bear-market territory. The rising number of infected cases and the death toll are affecting economic activity around the world and thus weighing on investors’ sentiment.

Additionally, the drop in oil prices because of lower demand is also stoking investors’ woes. Oil prices registered their biggest one-day decrease on Mar 9 since the Gulf War (1991). West Texas Intermediate crude for April delivery closed 25% lower at $31.13 a barrel on Monday. May Brent crude, the global benchmark, also went 24% south to hit $34.36 a barrel on the same day.

This sharp decline in oil prices is a continuation of Friday’s losses, which were because of the Organization of the Petroleum Exporting Countries and their allies’ (OPEC+) inability to implement a production cut for fighting the sliding oil prices.

Since Russia opposed oil production ramp-downs at the Vienna meet earlier this month, Saudi Arabia slashed oil prices over the weekend and is preparing to raise productivity in a bid to fight Russia’s market share, per The Wall Street Journal.

Financial Markets May Recover Ahead

However, several steps to boost the flattering global economies are already in motion. For example, President Donald Trump had earlier this week stated that he would seek financial relief for hourly-wage workers and businesses in the country that faced the coronavirus heat. The Trump administration is expected to meet on Mar 10 to discuss an economic stimulus package.

This package may comprise a payroll tax reduction and relief for workers who earn hourly wages to ensure that they won't miss paychecks.

For small businesses, Trump said that his administration will be creating loans and work with the worst-hit industries like the airline and cruise, which have been hurt over fears of the virus. The White House has also invited top Wall Street executives later this week to brainstorm how to deal with the current crisis.

On Mar 6, the president approved an $8.3-billion bill to battle against the coronavirus outbreak. The bill consists of funding efforts to develop a vaccine and aid local and state governments’ preparedness. (Zacks Investment Research

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Written By: Zacks Investment Research