MarketBeat: Week in Review 11/02 – 11/06

The market had a strong post-election rally this week.  Some analysts say it’s because investors foresee four years of gridlock (which they prefer), an accommodative Fed policy (which they love), and the likelihood of further stimulus perhaps still in this calendar year (which they really love).

Who knows for sure why it moved up? Markets tend to behave the way they want. But investors will take it. Particularly after the walloping the markets took in October. With some uncertainty behind the market, it’s looking more and more like 2021 will be a good year to be in equities. And in the middle of what has been a positive earnings season and another solid jobs report, now may be the time to move some cash off the sideline. That’s why the MarketBeat team of writers continues to analyze the stocks and sectors that may be worth your attention. Here’s a look at some of the articles our staff picked to help make you a better investor.

Articles by Sean Sechler

Speaking of taking cash off the sideline, Sean Sechler gave investors who might be in a buying mood three stocks to buy in the month of November.  One of his choices, Caterpillar (NYSE:CAT) may surprise you, but Sechler explains why the company’s solid financials make it a solid choice. Sean was also looking at industrial stocks as a hedge against the volatility in the tech sector and gave investors three choices as money begins to flow into this sector. And this election cycle saw important ballot initiatives pass for ridesharing, sports betting and cannabis companies. With that in mind, Sechler gave investors one stock to watch in each of those industries.

Articles by Jea Yu

One concern that investors have had is knowing when to take profits on stocks that seem to be overheated. Jea Yu identifies the social media platform Snap (NASDAQ:SNAP) as one of those stocks and gave investors strategies and exit points for taking some profits. Turning his attention from stocks that were overbought to stocks that may be oversold, Yu looked at CarMax (NYSE:KMX). Although the stock is underperforming the S&P 500, the used car market looks to be strong for the remainder well into 2021 making the omnichannel used car dealer a solid buy. And Yu was also analyzing the enterprise cloud data management company, NetApp (NASDAQ:NTAP). Some investors are concerned about the growing competition in the field as we come out of the pandemic. However, as Yu points out, the recent spike in Covid-19 cases may provide tailwinds for a stock that is still very inexpensive.

Articles by Thomas Hughes

While everyone’s first thought about investing in electricity may have them thinking of electric vehicles, Thomas Hughes was bringing investors back to the tried-and-true utilities sector. Hughes identified Eaton (NYSE:ETN) and Emerson Electric (NYSE:EMR) as two ways for investors to get steady growth with the opportunity for a dividend. Speaking of dividend stocks, Hughes was bullish on the performance of Scotts-Miracle Gro (NYSE:SMG) which has been a pandemic winner in its core business. And if you’re looking for a buy-on-the-dip opportunity in the fast food sector, Hughes suggests investors look at Wendy’s (NASDAQ:WEN). Despite underwhelming investors during earnings season, Wendy’s has increased its dividend and is still showing steady revenue growth.

Articles by Sam Quirke

Sam Quirke was eyeing a potential turnaround story for Walgreens Boots Alliance (NASDAQ:WBA). While some investors would think a pharmacy chain stock would be doing well, Walgreen’s has been a market laggard. However, Quirke believes the times may be changing. Another stock Quirke was looking at was Mohawk Industries (NYSE:MHK). The flooring manufacturer has benefited from pandemic-induced DIY projects, but has also been battered by rumors that it was cooking the books. However, now that the rumors appear to be baseless, the stock has room to move higher. Finally, Quirke was looking at Garmin (NASDAQ:GRMN) which has been a surprising pandemic winner. And with the company gearing up for what is usually its strongest season, investors may benefit from snatching up shares now.

Articles by Nick Vasco

Nick Vasco was helping investors understand the recent price activity surrounding Overstock.com (NASDAQ:OSTK). The stock surged after the company released earnings and then gave up the gains just as quickly. Vasco outlined three plausible reasons for the dip but concluded that investors shouldn’t be too concerned. The long-term outlook for the stock is still strong. Vasco was also advising investors to in his words “swipe right” on Match Group (NASDAQ:MTCH). Although it would seem that dating sites would be laggards during a pandemic, Vasco points out that our craving for connection is strong and that is reflected in the strength of Match’s Tinder business. 

Articles by Steve Anderson

 Steve Anderson was getting investors pumped up about Under Armour (NYSE:UAA). The athletic clothing retailer has freshened its business model to include a fitness app and is streamlining operations to better compete in a direct-to-consumer environment. Anderson was also reaffirming his bullish position on Barrick Gold (NYSE:GOLD). Not surprisingly, gold stocks have been rising due to all the market uncertainty. Mining stocks are a conservative way to invest in precious metals, and Barrick has long been one of the most solid names in the sector.