MarketBeat: Week in Review 11/23 – 11/27

Although it was a short trading week due to the Thanksgiving holiday, the market continued to provide surprises. On Monday, AstraZeneca became the third biotech company to announce a successful Phase 3 trial for its Covid-19 vaccine. The market surged on the news and on November 23, the Dow closed over 30,000 for the first time in history.

News later in the week that called AstraZeneca’s vaccine, along with an increase in jobless claims illustrates that while hope is on the horizon, the economy is still sluggish today. But the market is always forward-thinking and is already turning its attention to what should be a strong holiday season for e-commerce stocks.

Next week will bring another round of earnings reports. Investors will also get a look at the all-important Jobs Report on Friday, December 4.  The MarketBeat staff will be actively tracking the stocks to watch then and provide you with this recap of the week that was.

Articles by Sean Sechler

By the time you read this Black Friday will have come and gone. However, it’s not too late to look at the Sean Sechler’s list of three stocks to buy before Black Friday. You could call it a where, what, and how list as he looks at Target (NYSE:TGT), Sonos (NASDAQ:SONO), and United Parcel Service (NYSE:UPS). Sechler was also looking at the intriguing world of hydrogen fuel cells and giving investors a list of three stocks to invest in for that sector. And Sechler also gave our readers a case to invest in General Electric (NYSE:GE). The company has been mostly overlooked by investors but has quietly had a good year under new CEO Larry Culp and could merit some attention in your portfolio. 

Articles by Jea Yu

Electric vehicle (EV) stocks are in the mania stage. And one of the beneficiaries of that has been Westwater Resources (NASDAQ:WWR). The company specializes in extracting rare-earth minerals, such as lithium, that are needed to power EVs. For nimble, risk-tolerant investors Yu offers some trading guidelines for WWR stock.  Turning his attention to health care stocks, Yu likes CVS Health (NYSE:CVS) as a buy-on-the-dip candidate. The stock tumbled after the launch of Amazon Pharmacy. However, CVS looks to have a significant role to play in the rollout of a Covid-19 vaccine. Yu was also looking at Pinterest (NYSE:PINS) which is one of the hottest social media stocks in 2020. In a world where subtlety is frequently lost, Pinterest is winning the trust of users by its nonintrusive and non-encroaching nature.

Articles by Thomas Hughes

For risk-tolerant investors looking for a small-cap stock with strong growth potential, Thomas Hughes points investors toward Anaplan (NYSE:PLAN). The company operates a cloud-based software-as-a-service (SaaS) platform that is gaining traction for its ability for businesses to coordinate disparate databases into a unified whole. Anaplan is not yet profitable, but it looks to hit that level prior to its projected 2024 timeline. Hughes was also bullish about Abercrombie & Fitch (NYSE:ANF). The retailer is proving strong retail brands with a strong e-commerce presence are not only surviving, but thriving. And with the company’s improving outlook, it seems likely that it will be restarting its dividend which should provide another catalyst. On the other hand, Hughes was bearish on Hormel Foods (NYSE:HRL). The company was overvalued heading into its most recent earnings report and analysts believe it remains that way.

Articles by Nick Vasco

Nick Vasco was looking ahead to 2021 and liking what he’s seeing from eBay (NASDAQ:EBAY). The company may not impress investors as a pandemic winner. However, the company has taken some key steps to make the return process easier as well as to ensure that collectors (a key audience) will have the ability to authenticate their purchases on sneakers and watches. Vasco was also bullish on Freshpet (NASDAQ:FRPT) as a buy-on-the-dip candidate. The company provides branded refrigerators and coolers for retailers. This gives the company a solid moat from which to build its business, and Vasco believes it will. Vasco had a bullish outlook on Slack (NYSE:WORK) which should continue to prove its lasting value as the economy comes out of the pandemic.

Articles by Sam Quirke

Sam Quirke had his eye on retail stocks and with good reason. The sector has been having a solid earnings season. Quirke likes Best Buy (NYSE:BBY) because of its successful pivot to online sales. In its most recent quarter, the company reported a growth of 174% in domestic online sales. Another company that is thriving in the e-commerce world is The Gap (NYSE:GPS). The company’s stock price has climbed over 300% in the six months leading into its November earnings. And in the “cautious optimism” column, Quirke looked at Macy’s (NYSE:M). The company looks to be gaining traction in e-commerce, and the timing can’t come at a better time.

Articles by Steve Anderson

While Sam Quirke looked at the upside of retail stocks, Steve Anderson provided a note of caution with a bearish outlook on American Eagle Outfitters (NYSE:AEO). The company had a so-so earnings report and analysts appear to be jumping ship. Turning his attention to more bullish stocks, Anderson was looking at Regeneron (NASDAQ:REGN). The company just received Emergency Use Authorization (EUA) for its Covid-19 antibody treatment. Regeneron is a reminder that while a Covid-19 vaccine is front and center, it may still be therapeutic treatments that prove to be the long-term solution.

Articles by Chris Markoch

Chris Markoch had his eyes on a different sector of retail, in this case the dollar store chains. Specifically, Markoch was looking at Dollar Tree (NASDAQ:DLTR). The company has been making moves to expand its brick-and-mortar footprint. However, the key for the company will be if they can match that with growth in its e-commerce presence. Markoch was also looking at John Deere (NYSE:DE). Although the company was expected to report good earnings (and it did), Markoch cautions that the stock may be a bit overvalued at current levels.