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The Zacks Analyst Blog Highlights Comcast, fuboTV, Hooker Furnishings, Lululemon Athletica and Skechers
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For Immediate Release
Chicago, IL – December 26, 2023 – 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: Comcast Corp. (CMCSA - Free Report) , fuboTV Inc. (FUBO - Free Report) , Hooker Furnishings Corp. (HOFT - Free Report) , Lululemon Athletica Inc. (LULU - Free Report) and Skechers U.S.A., Inc. (SKX - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Consumer Confidence to Remain High in 2024: 5 Solid Picks
An increasing number of Americans are confident about the economy making a softer landing as inflation continues to decline sharply. The Conference Board said on Dec 20 that consumer confidence jumped to 110.7 in December from 101 in November, surpassing economists' expectations of a rise of 104.
This is the second straight month of a rise in consumer confidence and the highest reading since July.
The Present Situation Index, which measures consumers' assessment of current business and labor market situation, jumped to 148.5 in December from 136.5 in the previous month.
Consumers' expectations or the Expectations Index, which measures consumers' short-term outlook for business, income and labor market conditions over the next six months, rose to 85.6 in December from 77.4 in November.
Fears of the economy slipping into a recession eased to a great extent as any reading below 80 on the Expectations Index has historically signaled an impending recession within the following year.
More importantly, the Conference Board mentioned that the confidence level increased across all age groups. Receding fears of inflation have made people confident about the economy, with many planning to spend on homes, motor vehicles and household appliances. Also, a large number of Americans are planning to go on vacations.
The jump in consumer confidence was primarily driven by the recent market rally that hints at ending the year on a solid note and starting 2024 on a high.
The Dow, the S&P 500 and the Nasdaq have rallied 8.3%, 22.4 and 41.2%, respectively, year to date on investors' bullish sentiment. The Federal Reserve kept its benchmark policy rate steady in the range of 5.25-5.50% for the third straight time in its December FOMC meeting.
Also, the central bank has hinted at ending its monetary tightening campaign soon as it believes that inflation has been steadily declining.
Market participants were already hopeful about the Fed's decision and their confidence got a further boost after several Fed officials indicated the possibility of at least three 25 basis-point rate cuts in 2024.
Investors are now expecting the first rate cut in March, which will start lowering borrowing costs. This definitely bodes well for the economy, as consumers will be able to spend more freely.
Our Choices
Given the upbeat sentiment and soaring consumer confidence, investors should place their bet on five consumer discretionary stocks likeComcast Corp., fuboTV Inc., Hooker Furnishings Corp., Lululemon Athletica Inc. and Skechers U.S.A., Inc.. Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Comcast Corporation is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal and Sky. Beginning first-quarter 2023, CMCSA changed its presentation of segment operating results around its two primary businesses, Connectivity & Platforms, and Content & Experiences.
Comcast Corporation's expected earnings growth rate for next year is 9.9%. The Zacks Consensus Estimate for current-year earnings has improved 3.4% over the past 60 days. CMCSA presently carries a Zacks Rank #2.
fuboTV Inc. offers a sports-first live TV streaming platform as well as news and entertainment content. FuboTV is based in New York.
fuboTV's expected earnings growth rate for next year is 37.4%. The Zacks Consensus Estimate for current-year earnings has improved 12.6% over the past 60 days. FUBO presently carries a Zacks Rank #2.
Hooker Furnishings Corporation is a leading manufacturer and importer of residential furniture, primarily targeted at the upper-medium price range. HOFT offers diversified products, consisting primarily of home office, entertainment centers, imported occasional, bedroom, and wall systems across many style categories within this price range.
Hooker Furnishings' expected earnings growth rate for next year is 43.5%. The Zacks Consensus Estimate for current-year earnings has improved 76.8% over the past 60 days. HOFT presently sports a Zacks Rank #1.
Lululemon Athletica Inc. designs, manufactures and distributes athletic apparel and accessories for women, men and female youth. LULU offers a line of apparel assortment, including fitness pants, shorts, tops and jackets designed for healthy lifestyle and athletic pursuits, such as yoga, training, and running, as well as other sweaty and general fitness under the lululemon athletica brand name.
Lululemon Athletica's expected earnings growth rate for the current year is 22.9%. The Zacks Consensus Estimate for the current-year earnings has improved 2.1% over the past 60 days. LULU presently carries a Zacks Rank #2.
Skechers U.S.A., Inc. designs, develops, markets and distributes footwear for men, women and children in the United States and overseas under the SKECHERS name, as well as under several uniquely branded names. SKX has distribution networks and joint venture partners in Asia and the Middle East, and wholly-owned subsidiaries in Canada, Japan, Europe and Latin America.
Skechers U.S.A.'s expected earnings growth rate for the current year is 44.1%. The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the past 60 days. LYV presently has a Zacks Rank #2.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Comcast, fuboTV, Hooker Furnishings, Lululemon Athletica and Skechers
For Immediate Release
Chicago, IL – December 26, 2023 – 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: Comcast Corp. (CMCSA - Free Report) , fuboTV Inc. (FUBO - Free Report) , Hooker Furnishings Corp. (HOFT - Free Report) , Lululemon Athletica Inc. (LULU - Free Report) and Skechers U.S.A., Inc. (SKX - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Consumer Confidence to Remain High in 2024: 5 Solid Picks
An increasing number of Americans are confident about the economy making a softer landing as inflation continues to decline sharply. The Conference Board said on Dec 20 that consumer confidence jumped to 110.7 in December from 101 in November, surpassing economists' expectations of a rise of 104.
This is the second straight month of a rise in consumer confidence and the highest reading since July.
The Present Situation Index, which measures consumers' assessment of current business and labor market situation, jumped to 148.5 in December from 136.5 in the previous month.
Consumers' expectations or the Expectations Index, which measures consumers' short-term outlook for business, income and labor market conditions over the next six months, rose to 85.6 in December from 77.4 in November.
Fears of the economy slipping into a recession eased to a great extent as any reading below 80 on the Expectations Index has historically signaled an impending recession within the following year.
More importantly, the Conference Board mentioned that the confidence level increased across all age groups. Receding fears of inflation have made people confident about the economy, with many planning to spend on homes, motor vehicles and household appliances. Also, a large number of Americans are planning to go on vacations.
The jump in consumer confidence was primarily driven by the recent market rally that hints at ending the year on a solid note and starting 2024 on a high.
The Dow, the S&P 500 and the Nasdaq have rallied 8.3%, 22.4 and 41.2%, respectively, year to date on investors' bullish sentiment. The Federal Reserve kept its benchmark policy rate steady in the range of 5.25-5.50% for the third straight time in its December FOMC meeting.
Also, the central bank has hinted at ending its monetary tightening campaign soon as it believes that inflation has been steadily declining.
Market participants were already hopeful about the Fed's decision and their confidence got a further boost after several Fed officials indicated the possibility of at least three 25 basis-point rate cuts in 2024.
Investors are now expecting the first rate cut in March, which will start lowering borrowing costs. This definitely bodes well for the economy, as consumers will be able to spend more freely.
Our Choices
Given the upbeat sentiment and soaring consumer confidence, investors should place their bet on five consumer discretionary stocks likeComcast Corp., fuboTV Inc., Hooker Furnishings Corp., Lululemon Athletica Inc. and Skechers U.S.A., Inc.. Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Comcast Corporation is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal and Sky. Beginning first-quarter 2023, CMCSA changed its presentation of segment operating results around its two primary businesses, Connectivity & Platforms, and Content & Experiences.
Comcast Corporation's expected earnings growth rate for next year is 9.9%. The Zacks Consensus Estimate for current-year earnings has improved 3.4% over the past 60 days. CMCSA presently carries a Zacks Rank #2.
fuboTV Inc. offers a sports-first live TV streaming platform as well as news and entertainment content. FuboTV is based in New York.
fuboTV's expected earnings growth rate for next year is 37.4%. The Zacks Consensus Estimate for current-year earnings has improved 12.6% over the past 60 days. FUBO presently carries a Zacks Rank #2.
Hooker Furnishings Corporation is a leading manufacturer and importer of residential furniture, primarily targeted at the upper-medium price range. HOFT offers diversified products, consisting primarily of home office, entertainment centers, imported occasional, bedroom, and wall systems across many style categories within this price range.
Hooker Furnishings' expected earnings growth rate for next year is 43.5%. The Zacks Consensus Estimate for current-year earnings has improved 76.8% over the past 60 days. HOFT presently sports a Zacks Rank #1.
Lululemon Athletica Inc. designs, manufactures and distributes athletic apparel and accessories for women, men and female youth. LULU offers a line of apparel assortment, including fitness pants, shorts, tops and jackets designed for healthy lifestyle and athletic pursuits, such as yoga, training, and running, as well as other sweaty and general fitness under the lululemon athletica brand name.
Lululemon Athletica's expected earnings growth rate for the current year is 22.9%. The Zacks Consensus Estimate for the current-year earnings has improved 2.1% over the past 60 days. LULU presently carries a Zacks Rank #2.
Skechers U.S.A., Inc. designs, develops, markets and distributes footwear for men, women and children in the United States and overseas under the SKECHERS name, as well as under several uniquely branded names. SKX has distribution networks and joint venture partners in Asia and the Middle East, and wholly-owned subsidiaries in Canada, Japan, Europe and Latin America.
Skechers U.S.A.'s expected earnings growth rate for the current year is 44.1%. The Zacks Consensus Estimate for current-year earnings has improved 1.2% over the past 60 days. LYV presently has a Zacks Rank #2.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.