Last Friday, the stock market’s sudden reversal in the last hour of trade is a potential cause for concern. If selling intensifies on the S&P 500 (SPY), investors have five stocks to watch out for today.
Enphase Energy (ENPH) bottomed at $100 and closed at $119.34. Goldman Sachs (GS) listed the stock as one of its top 25 tactical trades. Enphase will post its earnings on July 23.
Bank of New York (BK) closed at a new high, up by 5.24% last Friday. The firm raised its dividend by 12% to $0.47. In Q2, it posted revenue of $4.6B (+2.2% Y/Y) and non-GAAP EPS of $1.51. The firm reported a 7% increase in assets managed, due mostly to higher market valuations.
Fortrea Holdings (FTRE) is a CRO (clinical research organization). Although its revenue fell by 4.6% Y/Y in Q1, speculators are betting that its book-to-bill ratio will improve this quarter.
Last Friday, Wells Fargo (WFC) posted Q2 profits that benefited from a rebound in investments. WFC stock fell by 6.02%, creating a better buying zone post-earnings.
Align Technology (ALGN) may end its downtrend since shares peaked at over $300 in March. The firm has a $150 million stock buyback plan that should limit the stock from falling further.
Related Stories
