Latest Stock Buy or Sell? Make More Informed Decisions!
Today, Karen Firestone, CEO, Aureus Asset Management and Joe Terranova commented about whether AMD-Q, CME-Q, BKNG-Q, PYPL-Q are stocks to buy or sell.
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COMMENT
There are opportunities in the market. The S&P could possibly re-test January's lows, but stocks already down 30-50% have already hit their lows. These aren't small companies, but big ones like PayPal and Cleveland Cliffs--you can find bargains among these names, punished because of disappointing guidance.
BUY
Great technicals now. They showed good bookings last year until Omicron hit them hard. But the credit card companies, even Citi, indicate signs of major travel spending in the next 6 months. Bookings' labour costs are low compared to service companies. She sees more than a 30% return over the coming year.
department stores
COMMENT
His concern Monday was that Facebook's weakness would pull down other tech majors. Yields were rising to their highest levels since 2019. However Amazon Prime rose prices, but yesterday there was breadth in US markets, and this changed his mind. Mid- and smallcaps are outperforming, for example. International and EM markets are rising. The real enemy is time--the time when the Fed finally announces its hikes. Price damage happened in January, and now there will be a recovery, either V- or U-shaped. The breadth is there--agriculture, materials, financials. We could see a rally.
BUY
Added more to his core position. Their CEO is unsung, despite a solid track record in managing energy and other companies. He's a moneymaker. At XPO, he spun-out GXO. Smart. He executed a pivotal plan after a recent weak quarter. Trades at a ridiculous 8x EBITDA with the market twice that. They lead in the truck brokerage space. They are killing it on every front.
Transportation
COMMENT
We could have seen the market lows last month, but there remain Russian tensions and crude oil prices returning above $90/barrel. If either jumps the wrong way too quickly, markets could fall and re-test January lows. He doubts it. Overall, things are better. America will be de-masking indoors around March 1 and this will encourage people to get back out there. A lot of optimism is building.
