5 Stocks To Watch: July 17, 2020
On Thursday, traders and investors were conservative after significant drops in the Dow Jones Industrial Average (-0.5-percent), the S&P 500 (-0.34-percent), and Nasdaq (-0.73-percent). Despite the market backtracking, there are still plenty of stocks to watch Friday, July 17, 2020.
CNBC’s Jim Cramer said: “We needed a breather. The market can’t go up every day without some sellers coming out of the woodwork.” Cramer made it clear, investors need to hunt for companies with strong fundamentals. Taking that on board, these are our five stocks to watch.
PPG Industries, Inc. (PPG) – $115.26
PPG Industries, Inc. (PPG) surpassed their second-quarter estimates. Revealing a surprise $3.02-billion revenue, $235-million over the estimate. PPG’s value has been increasing since March 29, 2020. From $80.43 to its current value of $115.26. Despite the trend and positive revenue report, news sentiment surrounding PPG remains bearish but it’s definitely one of the stocks to watch.
J.B. Hunt Transport Services, Inc. (JBHT) – $132.55
The transportation and logistics company out of Arkansas revealed positive second-quarter revenue, beating the $2.01-billion estimate by $136-million. Earnings per share reached $1.14, and in after-hours trading on Thursday share value jumped 4-percent to $137.90. With news sentiment 67.35-percent positive and Deutsche Bank upgrading from sell to hold, JBHT is a stock to watch.
Kansas City Southern (KSU) – $158.46
Kansas City Southern (KSU) is considered a strong buy by analyst Raymond James and is definitely one of the stocks to watch today. The railway owning company is yet to release its second-quarter earnings for 2020 but estimates predict $564.22-million. An understandable $167.48-million drop from its first-quarter earnings considering the coronavirus lockdown. Estimations also predict that earnings per share will drop from Q1 $1.96 to $1.15 in Q2.
State Street Corp (STT) – $64.45
The second-oldest continually operating U.S. bank, State Street Corp is expected to release it’s second-quarter revenue reports today. Estimations expect $2.87-billion and $1.61 earnings per share. However, estimations were wrong in the first quarter, short by $165-million and $0.32 per share. Currently, analysts B of A Securities and Seaport Global have STT set as a buy.
BlackRock, Inc. (BLK) – $566.87
BlackRock, Inc. (BLK) have already released their second-quarter earnings. The world’s largest asset manager posted earnings of $3.65-billion, with $7.85 earnings per share. Since May 11 2020 the stock price has been regularly climbing, moving from $454.44 to $566.96 earlier in the day. This recovery tops its previous value in February 2020 of $565.94. Analysts B of A Securities maintain a buy on BLK but sentiment towards the stock remains bearish overall.