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Wall Street Rallies As Restrictions Ease: 5 Most-Loved Stocks
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Wall Street has staged a strong comeback since late March, leaving the rest of the world behind. This is primarily thanks to a booming technology sector as well as an unprecedented stimulus from the central bank and the government. The central bank has plenty of ammunition to rescue the economy from a deep slowdown, indicating a potential recovery in the second half of the year. The Fed would expand existing lending programs or start new ones if required.
Additionally, hopes surrounding a potential coronavirus vaccine and reopening of the economy instilled confidence. All the 50 states have lifted restrictions put in place to combat the coronavirus outbreak. The latest bouts of data indicate that economic damage from the coronavirus pandemic was less severe than anticipated. U.S. manufacturing activity rose for the first time since January while jobless claims fell for the first time during the pandemic in the week ended May 23. Readings on durable goods also beat forecasts. Stronger-than-expected consumer confidence and homebuilder confidence have led to some optimism. Signs of a rebound in the economy more than offset the recent escalation in U.S.-China trade tensions.
Notably, the S&P 500 has risen about 36% from its March low, cutting its losses for the year to 5.8%. The index also capped its best two-month gain since 2009.
Given the bullishness and a strong momentum, we have screened for five stocks that are most loved by the brokerage firms with the help of the Zacks Stock Screener. The parameters include a Zacks Rank #1 (Strong Buy), VGM Score of A, 100% of buy ratings, estimated double-digit earnings growth for this year and a top-ranked Zacks industry. You can see the complete list of today’s Zacks #1 Rank stocks here.
This Vancouver-based company is a gold producer with three operational mines (one each in Mali, Namibia, Philippines). It has an estimated earnings growth rate of 221.4% for this year and belongs to the top-ranked industry (placed at the top 6% of 250+ industries). The stock has a market cap of $5.7 billion.
This Scorpio-based company is a provider of marine transportation of petroleum products worldwide. The stock has seen solid earnings estimate revision of $3.32 for this year over the past month and has estimated earnings growth of 760.6%. It has a market cap of $1 billion and belongs to a top industry (top 33%).
This Washington-based company provides cloud-based real estate brokerage services primarily in the United States and Canada. It has seen solid earnings estimate revision of 10 cents for this year over the past month and has an estimated earnings growth rate of 173.3%. It has a market cap of $697.9 million and belongs to a top industry (top 47%).
Atlas Air Worldwide Holdings
This New York-based company provides outsourced aircraft and aviation operating services. The stock has seen solid earnings estimate revision of $1.80 for this year over the past month and has estimated earnings growth of 61.3%. It has a market cap of $1.1 billion and belongs to a top industry (top 17%).
This Canada-based company is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. It has a market cap of $413.3 million and an estimated earnings growth rate of 59.5% for this year. The company belongs to a top-ranked industry (top 16%).
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all. This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025. Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
Image: Bigstock
Wall Street Rallies As Restrictions Ease: 5 Most-Loved Stocks
Wall Street has staged a strong comeback since late March, leaving the rest of the world behind. This is primarily thanks to a booming technology sector as well as an unprecedented stimulus from the central bank and the government. The central bank has plenty of ammunition to rescue the economy from a deep slowdown, indicating a potential recovery in the second half of the year. The Fed would expand existing lending programs or start new ones if required.
Additionally, hopes surrounding a potential coronavirus vaccine and reopening of the economy instilled confidence. All the 50 states have lifted restrictions put in place to combat the coronavirus outbreak. The latest bouts of data indicate that economic damage from the coronavirus pandemic was less severe than anticipated. U.S. manufacturing activity rose for the first time since January while jobless claims fell for the first time during the pandemic in the week ended May 23. Readings on durable goods also beat forecasts. Stronger-than-expected consumer confidence and homebuilder confidence have led to some optimism. Signs of a rebound in the economy more than offset the recent escalation in U.S.-China trade tensions.
Notably, the S&P 500 has risen about 36% from its March low, cutting its losses for the year to 5.8%. The index also capped its best two-month gain since 2009.
Given the bullishness and a strong momentum, we have screened for five stocks that are most loved by the brokerage firms with the help of the Zacks Stock Screener. The parameters include a Zacks Rank #1 (Strong Buy), VGM Score of A, 100% of buy ratings, estimated double-digit earnings growth for this year and a top-ranked Zacks industry. You can see the complete list of today’s Zacks #1 Rank stocks here.
B2Gold Corp (BTG - Free Report)
This Vancouver-based company is a gold producer with three operational mines (one each in Mali, Namibia, Philippines). It has an estimated earnings growth rate of 221.4% for this year and belongs to the top-ranked industry (placed at the top 6% of 250+ industries). The stock has a market cap of $5.7 billion.
Scorpio Tankers Inc. (STNG - Free Report)
This Scorpio-based company is a provider of marine transportation of petroleum products worldwide. The stock has seen solid earnings estimate revision of $3.32 for this year over the past month and has estimated earnings growth of 760.6%. It has a market cap of $1 billion and belongs to a top industry (top 33%).
Exp World Holdings Inc. (EXPI - Free Report)
This Washington-based company provides cloud-based real estate brokerage services primarily in the United States and Canada. It has seen solid earnings estimate revision of 10 cents for this year over the past month and has an estimated earnings growth rate of 173.3%. It has a market cap of $697.9 million and belongs to a top industry (top 47%).
Atlas Air Worldwide Holdings
This New York-based company provides outsourced aircraft and aviation operating services. The stock has seen solid earnings estimate revision of $1.80 for this year over the past month and has estimated earnings growth of 61.3%. It has a market cap of $1.1 billion and belongs to a top industry (top 17%).
SunOpta Inc. (STKL - Free Report)
This Canada-based company is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. It has a market cap of $413.3 million and an estimated earnings growth rate of 59.5% for this year. The company belongs to a top-ranked industry (top 16%).
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all. This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025. Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
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