1 Stock to Buy, 1 Stock to Sell This Week: Shopify, Occidental Petroleum

Investing.com11-10

• CPI inflation, retail sales, producer prices, and more earnings will be in focus this week. • Shopify stands out as a buy, particularly with the holiday season around the corner. • Occidental ...

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Petroleum\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-10 21:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-stock-buy-1-stock-135100316.html><strong>Investing.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>• CPI inflation, retail sales, producer prices, and more earnings will be in focus this week.\n• Shopify stands out as a buy, particularly with the holiday season around the corner.\n• Occidental ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-stock-buy-1-stock-135100316.html\">Source 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particularly with the holiday season around the corner.\n• Occidental Petroleum’s challenging landscape makes it one to approach with caution.\n• Looking for more actionable trade ideas? Unlock access to InvestingPro for less than $8 a month!\nU.S. stocks closed higher on Friday to cap off their best week of the year, as the Dow and S&P 500 surged to new records after Donald Trump's decisive election victory.\nInvestors are betting that a Trump administration will bring lighter regulation and tax cuts that could boost the U.S. economy.\nFor the week, the blue-chip Dow Jones Industrial Average climbed 4.6%, the benchmark S&P 500 gained 4.7%, and the tech-heavy Nasdaq Composite popped 5.7%. \nSource: Investing.com\nThe week ahead is expected to be an eventful one as investors assess the outlook for the economy, inflation, interest rates and corporate earnings.\nOn the economic calendar, most important will be Wednesday’s U.S. consumer price inflation report for October, which is forecast to show headline annual CPI rising 2.4% year-over-year.\nOther noteworthy economic reports include U.S. retail sales data, as well as a report on producer prices, will help fill out the inflation picture.\nSource: Investing.com\nThat will be accompanied by a heavy slate of Fed speakers, including Chairman Jerome Powell on Thursday.\nElsewhere, the earnings season continues, with the list of notable names due to report including Walt Disney (NYSE:DIS), Home Depot (NYSE:HD), Cisco (NASDAQ:CSCO), Applied Materials (NASDAQ:AMAT), Shopify (NYSE:SHOP), Spotify (NYSE:SPOT), and Alibaba (NYSE:BABA).\nRegardless of which direction the market goes, below I highlight one stock likely to be in demand and another which could see fresh downside. Remember though, my timeframe is just for the week ahead, Monday, November 11 - Friday, November 15.\nStock To Buy: Shopify\nShopify stands out as a top buy this week, as the e-commerce software leader is anticipated to deliver another quarter of strong top-line growth and provide an upbeat outlook thanks to robust growth across key metrics.\nShopify’s report is set for release Tuesday at 7:00 AM ET. Market participants expect a sizable swing in SHOP stock after the print drops, according to the options market, with a possible implied move of approximately 14% in either direction. Shares gapped up 26% after its last earnings report in August.\nSource: InvestingPro\nAnalysts have raised profit forecasts 33 times in recent weeks, as per an InvestingPro survey, highlighting confidence in Shopify’s continued expansion.\nWall Street expects adjusted EPS to rise 14% to $0.27, while revenue is set to increase 23% to over $2.1 billion, driven by positive merchant growth and consistent demand for Shopify’s suite of software and payment tools.\nAdditionally, Shopify has a proven seasonal advantage: its stock tends to gain momentum leading up to Black Friday and Cyber Monday (NASDAQ:MNDY) (BFCM). Historically, shares have risen about 7% in the two weeks prior to BFCM from 2016 to 2023, showing resilience as demand spikes ahead of the holiday shopping season.\nAs more merchants capitalize on e-commerce for the holiday rush, Shopify remains well-positioned for upside.\nSHOP stock ended at $87.12 on Friday, its highest closing price since February 12. Shares have gained 11.8% year-to-date. At current levels, the Ottawa, Canada-based e-commerce specialist has a market cap of $112.5 billion.\nSource: Investing.com\nAs InvestingPro points out, Shopify sports a near perfect ‘Financial Health’ score of 4.0 out of 5.0 thanks to its favorable positioning in the software application industry, which has allowed it to leverage a resilient business model and strong profit growth.\nBe sure to check out InvestingPro to stay in sync with the market trend and what it means for your trading. Subscribe now and get up to 55% off and position your portfolio one step ahead of everyone else!\nStock to Sell: Occidental Petroleum\nIn contrast, Occidental Petroleum (NYSE:OXY) is facing a more challenging outlook, making it a strong sell this week due to an unpredictable energy market and fluctuating oil prices.\nThe company is scheduled to release its third-quarter earnings report after the market closes at 4:15PM ET on Tuesday. According to the options market, traders are pricing in a swing of around 6% in either direction for OXY stock following the print.\nThe energy sector’s current uncertainties make Occidental’s path to growth more complicated, with the company navigating complex conditions around global demand and strategic shifts within the industry.\nSource: InvestingPro\nThe oil and gas producer’s earnings outlook has dimmed, with 16 of 17 analysts reducing their EPS forecasts in recent weeks, reflecting a challenging market.\nEarnings are expected to decline 36.4% year-over-year to $0.75 per share on revenue of $7.1 billion, down 4% annually. This decrease comes amid volatile oil prices and ongoing debates around the global energy demand outlook.\nAlthough Occidental has made moves to enhance its position within the sector, including recent strategic initiatives, near-term pressures continue to weigh on the stock. Consequently, the risk of underperformance appears higher as the company battles broader market uncertainties and industry-specific hurdles.\nOXY stock closed at $50.53 on Friday, not far from a recent 52-week low of $49.51 touched on November 1. Shares are down 15.4% in 2024. At current valuations, the Houston, Texas-based company has a market cap of $47 billion.\nSource: Investing.com\nWhether you're a novice investor or a seasoned trader, leveraging InvestingPro can unlock a world of investment opportunities while minimizing risks amid the challenging market backdrop.\nSubscribe now to get up to 55% off all Pro plans and instantly unlock access to several market-beating features, including:\n• ProPicks AI: AI-selected stock winners with proven track record.\n• InvestingPro Fair Value: Instantly find out if a stock is underpriced or overvalued.\n• Advanced Stock Screener: Search for the best stocks based on hundreds of selected filters, and criteria.\n• Top Ideas: See what stocks billionaire investors such as Warren Buffett, Michael Burry, and George Soros are buying.\nDisclosure: At the time of writing, I am long on the S&P 500, and the Nasdaq 100 via the SPDR® S&P 500 ETF, and the Invesco QQQ Trust ETF. I am also long on the Technology Select Sector SPDR ETF (NYSE:XLK).\nI regularly rebalance my portfolio of individual stocks and ETFs based on ongoing risk assessment of both the macroeconomic environment and companies' financials.\nThe views discussed in this article are solely the opinion of the author and should not be taken as investment advice.\nFollow Jesse Cohen on X/Twitter @JesseCohenInv for more stock market analysis and insight.\nRelated Articles\n1 Stock to Buy, 1 Stock to Sell This Week: Shopify, Occidental Petroleum\nStocks Rallied: What's Next for the Market?\n3 Stocks Poised to Ride USâs Manufacturing and Silver Revival","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482660282"}