Friday, December 4, 2020

4 Solid Stocks for a Volatile Market

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It was an ugly trading session on Wednesday. Stocks posted their largest losses in months as the S&P sold off for more than 3.5%. The inflated Nasdaq led the losses with a 3.7% tumble, and the DJIA fell 3.4%.

Hopefully, we will see somewhat of a rebound in today’s session. U.S. index futures are up about half a point ahead of the open, and Euro stocks are trending higher midway through the trading session.

Europe is rebounding after yesterday’s bloodbath. The British FTSE 100 is up 0.2% and the Euro Stoxx 600 is up 0.3%

On the Pacific side of town, Asian stocks were mostly down overnight. Hong Kong’s Hang Seng index was the biggest loser with a 0.5% loss, and the Japanese Nikkei 225 rallied 0.4%.

This week’s earnings schedule continues to chug along. Some of the biggest FAANG names are on the docket, as well as several other major S&P 500 stocks.

Shopify [SHOP], Nokia [NOK], Moderna [MRNA], and Spotify [SPOT] before the bell.

Apple [AAPL], Amazon [AMZN], Facebook [FB], and Alphabet [GOOGL] will follow up with their reports after the closing bell.

Pinterest [PINS]

Pinterest blew its Q3 earnings report out of the water and stocks are rallying. The social media firm grew its quarterly revenues at a staggering 58% clip, and it predicts it will grow Q4 revenues at 60% over last year.

We saw a similar move when Snap [SNAP] rallied sharply after releasing its earnings report. It’s obvious that investors are willing to pay a premium for growth. With the FANG stocks trading at historically high valuations, investors are flocking into second-tier social media services like PINS and SNAP.

The blowout quarter drove a 31.8% rally in the after-hours trading session, and the stock is trading actively.

Ford [F]

Ford has been on a quiet rally over the past two months that has lifted its share price to nearly double its Spring lows.

The rally is continuing today after Ford released its earnings report. The automaker reported rebounding vehicle sales and beat Wall Street expectations for earnings and revenues. Operating profits were nearly three times higher the analyst target.

Value stocks like F are quietly gaining ground while tech and other favored sectors continue to face resistance. We could be seeing a rotation into these value-oriented stocks in anticipation of more uncertainty to come.

F is up 5.0% in the pre-market on news its blowout quarter.

Brinks Co. [BCO] 

Brinks released its Q3 earnings report this morning and it was much better than analysts expected.

The security firm reported an operating loss for the quarter, but it’s adjusted EPS figure topped analyst estimates.Brinks also beat consensus estimates for revenues and reinstated its 2020 guidance.

Investors ate up the blowout report. BCO is taking off in the pre-market with a 20.7% gain.

Inphi Corp. [IPHI]

Inphi released its quarterly earnings report this morning and announced a groundbreaking buy-out proposal from Marvell Technology [MRVL].

Marvell says it will pay $66 cash and 2.323 shares for each outstanding share of IPHI. The board still needs to consider the proposal, and the company said it won’t host a post-earnings conference call so it can weigh the offer.

Meanwhile, IPHI posted strong numbers on its earnings report. The quarter’s record-breaking revenues topped Q3 2019’s totals by 91.8%.

IPHI is trading higher on the strong earnings and buyout rumors. It’s currently 27.9% higher in the pre-market trading session.

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