The rising volatility in stock markets created dips in stocks, effectively giving investors a better entry point.
Meta Platforms (META) is the weekly winner, up by 10.55%. Wells Fargo reiterated its overweight rating on the communications services sector. The firm wrote that the pullback in META stock created an attractive entry point. It also mentioned Alphabet (GOOG) and Netflix (NFLX).
Monster Beverage (MNST) was one of many losing stocks last week. Shares lost around 9% after the firm warned that demand pressures would hurt its future results. In Q2, Monster posted a 2.5% Y/Y increase in revenue, to $1.9 billion. Sales increased for its energy drinks. This included the Monster Energy drink, Reign Total Body Fuel, Reign Storm, and Bang Energy drinks.
In the drug manufacturing sector, Pfizer (PFE) is decisively below the $30 level. It closed at $28.55, after peaking at around $31.30 on July 30. Investors took profits after Pfizer raised its annual earnings outlook on that day.
On Aug. 7, a judge upheld a jury verdict against AstraZeneca (AZN). The firm infringed on two patents that Pfizer’s Wyeth unit held.
UnitedHealth (UNH) is another weekly loser, down by 3.6%. Investors may hold the stock ahead of its $2.10 dividend, payable on September 24 for investors of record on September 16.
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