Don’t Get Caught Without These 5 Stocks This Week
Each week Forcerank runs a variety of games covering different industries. What we have found, is that the highest ranked companies in their respective games deliver the biggest positive price movement for that week. This week the winners include popular names like Apple and JPMorgan Chase and some lesser known ones such as Workday.
JetBlue Airways (JBLU) | Airlines: JetBlue was the only winner in the airline contest last week. Shares of the airliner were up 7.6% while the rest of the participants in the contest were all in the red. At the end of the week, Imperial Capital initiated coverage on the company with an outperform rating and $21 price target. The company’s frequent discounts and promotional sales have helped drive traffic gains and curtailed PRASM losses. This week, JetBlue announced one of the largest renewable jet fuel agreements in aviation history. The company will begin burning renewable biofuel mix on some of its flights within the NYC area. The move puts JetBlue ahead of the looming restrictions that are likely to cripple the airline industry.
JPMorgan Chase (JPM) | Financials: This is a big week for all the banks that anxiously await the Fed’s decision on whether or not to raise interest rates. A rate hike will provide them with a much-needed boost to interest income that had otherwise suffered. JPM has been one of the few banks that have remained resilient through the decade-long period of low-interest rates. With a rate hike unlikely happening in September or even November, banks will be listening for any indication of a December hike. Comments from the meeting this week will largely dictate how JPM performs the rest of the year. Shares are up 0.5% in trading this week and should continue to perform better than its 50 days moving average.
Fitbit (FIT) | Most Heavily Shorted: Formerly beaten down Fitbit is on a tear only rivaled by GoPro. The two companies had been crushed since their 2015 IPOs, only recently showing new signs of life. Shares of Fitbit were up nearly 11% last week and about flat in trading this week. This comes following a better than expected second quarter thanks to the runaway success of its newest products; Fitbit Blaze and Alta. Both devices have investors believing that the best is yet to come. The company ended last week with a bullish crossover in the MACD while shares are on the verge of eclipsing its 200-day average.
Workday (WDAY) | Enterprise Software (Small/Mid): Shares have been on a tear since better than expected second quarter results. The company reported a 37% increase in revenue from subscription services which is largely credited with the recent spike. There is still a gap at about $91, roughly $2 above its current price, that has yet to be filled. Based on the upward trend, it is only a matter of time before Workday fills the gap. Meanwhile, shares are trading well above their 20 day average with volume growth continuing to support this upward momentum.
Apple (AAPL ) | Hardware: Dubbing last week’s surge as a comeback might be premature but early indications suggest the iPhone 7 will trump expectations. T-Mobile claimed that iPhone 7 pre-orders smashed prior sales records. This wasn’t contained just to T-Mobile but AT&T and Sprint also claimed to have seen a sharp uptick. The chatter around its new devices last week was enough to propel the stock back into investor’s watchlists. This week has started on a slightly sluggish note, likely from profit taking, but should level out as the week progresses.
Disclosure: Each week, Forcerank runs a variety of games covering different industries. What we have found, is that the highest ranked companies in their ...
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