5 U.S. Corporate Behemoths to Buy as Short-Term Momentum Plays

Zacks11-13 03:00

With just one and a half months of trading left in 2024, Wall Street is likely to repeat its impressive rally of 2023. Last year, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq ...

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Last year, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq ...</p>\n\n<a href=\"https://finance.yahoo.com/news/5-u-corporate-behemoths-buy-190000779.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 U.S. Corporate Behemoths to Buy as Short-Term Momentum Plays</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 U.S. Corporate Behemoths to Buy as Short-Term Momentum Plays\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 03:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/5-u-corporate-behemoths-buy-190000779.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With just one and a half months of trading left in 2024, Wall Street is likely to repeat its impressive rally of 2023. Last year, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq ...</p>\n\n<a href=\"https://finance.yahoo.com/news/5-u-corporate-behemoths-buy-190000779.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0345774391.USD","symbol_name":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/5-u-corporate-behemoths-buy-190000779.html","article_id":"2483054471","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/SZN1KtruvN1kE7KHISHrJw--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/124f1f4e4fcc578e5486ea52e0d08740"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483054471","pubTimestamp":1731438000,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"With just one and a half months of trading left in 2024, Wall Street is likely to repeat its impressive rally of 2023. Last year, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — were up 13.7%, 23.9% and 43.4%, respectively. Year to date, the Dow, the S&P 500 and the Nasdaq Composite – have advanced 17.4%, 26.5% and 30.7%, respectively.During the astonishing rally of the past 22 months, several stocks, especially corporate bigwigs have skyrocketed. Despite this phenomenal growth of U.S. stock markets, stocks of various giant corporates have provided returns that are below the return of the broad-market index – the S&P 500.Looking at the third quarter as a whole, total earnings of the S&P 500 Index are expected to be up 7.4% from the same period last year on 5.6% higher revenues.We have narrowed our search to five large-cap momentum stocks that have witnessed robust earnings estimate revisions in the last 30 days and have strong upside left for the rest of","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0345774391.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","BK4538":"云计算","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","LU0079474960.USD":"联博美国增长基金A","SDS":"两倍做空标普500ETF","NEM":"纽曼矿业","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","SSO":"两倍做多标普500ETF","UPRO":"三倍做多标普500ETF","UBER":"优步","BK4519":"光伏太阳能","COMP":"Compass, Inc.","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","NEM.AU":"Newmont Corp","SPXU":"三倍做空标普500ETF","KLAC":"科磊","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU0496367417.USD":"富兰克林黄金和贵金属A（acc）","SPY":"标普500ETF","SG9999015978.USD":"利安颠覆性创新基金A","LU0097036916.USD":"贝莱德美国增长A2 USD","OEF":"标普100指数ETF-iShares","VOO":"Vanguard标普500ETF","OEX":"标普100","IVV":"标普500指数ETF",".SPX":"S&P 500 Index","BK4592":"伊斯兰概念","BK4532":"文艺复兴科技持仓","LU0498741890.SGD":"FTIF - Franklin Gold and Precious Metals A (acc) SGD","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4147":"半导体设备","SPGI":"标普全球","LU0788109121.HKD":"BGF WORLD MINING \"A2\" (HKDHGD) ACC","AMZN":"亚马逊","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","SH":"标普500反向ETF","LU1223082519.USD":"SCHRODER ISF GLOBAL GOLD \"A\" (USD) INC AV","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD"},"translate_title":"随着短期势头的发挥，值得买入的5家美国企业巨头","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NEM":1,"SPGI":1,"KLAC":1,"UBER":1,"US2Y.BOND":0.9,"NEM.AU":0.9,"US10Y.BOND":0.9,"US12M.BOND":0.9,"COMP":0.9,"US30Y.BOND":0.9,"US3Y.BOND":0.9,"US5Y.BOND":0.9,"US6M.BOND":0.9,"US7Y.BOND":0.9,"AMZN":0.9,"VOO":0.87,"SPY":0.87,"SH":0.6,"SPXU":0.6,"SSO":0.6,"IVV":0.6,"UPRO":0.6,"ESmain":0.6,".SPX":0.6,"OEF":0.6,"OEX":0.6,"SDS":0.6},"content_text":"With just one and a half months of trading left in 2024, Wall Street is likely to repeat its impressive rally of 2023. Last year, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — were up 13.7%, 23.9% and 43.4%, respectively. Year to date, the Dow, the S&P 500 and the Nasdaq Composite – have advanced 17.4%, 26.5% and 30.7%, respectively.\nDuring the astonishing rally of the past 22 months, several stocks, especially corporate bigwigs have skyrocketed. Despite this phenomenal growth of U.S. stock markets, stocks of various giant corporates have provided returns that are below the return of the broad-market index – the S&P 500. \nWe recommend investing in such stocks that boast strong momentum and carry a favorable Zacks Rank. Moreover, these stocks have double-digit upside potential in the short term. Five such stocks are - Amazon.com Inc. AMZN, KLA Corp. KLAC, Newmont Corp. NEM, Uber Technologies Inc. UBER and S&P Global Inc. SPGI. \nMomentum Likely to Continue\nMomentum investing calls for continued appraisal of stocks, ensuring that an investor does not pick a beaten-down name or overlook a thriving one. Momentum investors buy high on the anticipation that a stock will only ascend in the short to intermediate term.\nWe are still not clear about economic policies (especially imposition of tariff and lowering of corporate tax) of the President-elect Donald Trump for his second term. While this could cause occasional market fluctuations, the overall movement of Wall Street is likely to remain northbound due to three main drivers. \nFirst, the fundamentals of the U.S. economy are rock-solid. U.S. GDP grew at 1.6%, 3% and 2.8%, respectively, in the first three quarters of 2024. On Nov 7, the Atlanta Fed GDPNow tracker estimated 2.5% GDP growth for the fourth quarter. These numbers are higher than the pre-pandemic period.\nSecond, as of Nov 8, 452 S&P 500 companies reported their quarterly financial numbers. Total earnings of these companies are up 7.1% year over year on 5.5% higher revenues, with 73.5% beating earnings per share (EPS) estimates and 61.5% beating revenue estimates.\nLooking at the third quarter as a whole, total earnings of the S&P 500 Index are expected to be up 7.4% from the same period last year on 5.6% higher revenues.\nThird, the Fed reduced the benchmark lending rate by 25 basis-points in its November FOMC meeting after cutting an aggressive 50 basis-points in the Fed fund rate in September. The Fed fund rate is currently in the range of 4.50-4.75% compared with a 23-year high of 5.25-5.5% till mid-September. The\nCME FedWatch interest rate derivative tool currently shows that market participants have provided a 70% probability of another 25 basis-point rate cut in December.  \nBuy 5 Momentum Stocks With Strong Short-Term Upside\nWe have narrowed our search to five large-cap momentum stocks that have witnessed robust earnings estimate revisions in the last 30 days and have strong upside left for the rest of 2024. Each of our picks carries a Zacks Rank #2 (Buy) and has a Momentum Score of A.  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe chart below shows the price performance of our five picks in the past three months.\nImage Source: Zacks Investment Research\nAmazon.com Inc.\nAmazon.com’s third-quarter results were driven by Prime and AWS momentum. Strengthening AWS services portfolio and AMZN’s growing adoption rate contributed well to AWS performance. Ultrafast delivery services and an expanding content portfolio were beneficial. The strengthening relationship with third-party sellers was a positive. \nRobust advertising business contributed well. AMZN’s expanding global presence remains a positive. Growing capabilities in grocery, pharmacy, healthcare and autonomous driving are other positives for Amazon.com. Deepening focus on generative AI is a major plus. AMZN issued positive fourth-quarter 2024 guidance fueling investor enthusiasm.  \nStrong Price Upside Potential for AMZN Stock\nThe average short-term price target of brokerage firms represents an increase of 13.7% from the last closing price of $206.84. The brokerage target price is currently in the range of $197-$285. This indicates a maximum upside of 37.8% and no downside.\nAmazon.com has an expected revenue and earnings growth rate of 10.8% and 78.3%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.2% in the last seven days.\nKLA Corp.\nKLA is benefiting from the strong performance of the wafer inspection business owing to rising demand for advanced wafer inspection applications in leading-edge technology development. KLAC is benefiting from the higher volume of wafer manufacturing, more complex designs, larger die and chip size driven by strong AI adoption. \nIncreasing advanced packaging demands which support an increase in process control intensity bodes well for KLAC. Growing investments across multiple nodes and rising capital intensity in Foundry & Logic are driving top-line growth. KLAC's emphasis on the integration of AI into its solutions has driven its outperformance in the semiconductor market.\nImpressive Price Upside Potential for KLAC Shares\nThe average short-term price target of brokerage firms represents an increase of 20.8% from the last closing price of $666.03. The brokerage target price is currently in the range of $620-$977. This indicates a maximum upside of 46.7% and a maximum downside of 6.9%.\nKLAC has an expected revenue and earnings growth rate of 19.6% and 30.2%, respectively, for the current year (ending June 2025). The Zacks Consensus Estimate for current-year earnings has improved 6.1% in the last 30 days.\nNewmont Corp.\nNewmont is making notable progress with its growth projects. NEM is likely to gain from several projects, including the Tanami expansion. The acquisition of Newcrest also created an industry-leading portfolio and provided opportunities for significant synergies. NEM also remains focused on improving operational efficiency and returning value to shareholders. NEM is making notable progress with efficiency improvement programs. \nGold prices are hitting record highs this year, and the yellow metal has been among the best-performing assets. The rally has been driven by strong demand from central banks, a dovish Fed interest rate outlook, global uncertainties and a surge in safe-haven demand thanks to geopolitical tensions. Increased tensions in the Middle East and concerns over an economic slowdown also fueled safe-haven demand.\nRobust Price Upside Potential for NEM Stock\nThe average short-term price target of brokerage firms represents an increase of 31.6% from the last closing price of $42.33. The brokerage target price is currently in the range of $47-$72.32. This indicates a maximum upside of 70.9% and no downside. \nNewmont has an expected revenue and earnings growth rate of 53.3% and 95.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.1% in the last 30 days.\nUber Technologies Inc.\nUber Technologies’ Delivery business benefits from robust online order volumes. UBER’s efforts to expand its delivery operations through successive acquisitions are encouraging. Continued recovery in Mobility operations is also aiding UBER. For third-quarter 2024, UBER expects gross bookings of $40.25-$41.75 billion. \nApart from the recovery in Mobility operations and the strong performance of the Delivery unit, UBER’s focus on financial discipline is encouraging as well. For third-quarter 2024, adjusted EBITDA is estimated between $1.58 billion and $1.68 billion. \nExcellent Price Upside Potential for UBER Shares\nThe average short-term price target of brokerage firms represents an increase of 26.8% from the last closing price of $71.65. The brokerage target price is currently in the range of $66 -$120. This indicates a maximum upside of 67.5% and a maximum downside of 7.9%\nUber Technologies has an expected revenue and earnings growth rate of 17.3% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.6% in the last seven days.\nS&P Global Inc.\nS&P Global remains well-poised to gain from the growing demand for business information services. Buyouts help innovate, increase differentiated content and develop products. The latest service launches have been aiding SPGI’s growth. \nDividend payments and share buybacks boost investors' confidence and positively impact earnings per share of SPGI. A current ratio of more than 1 indicates that SPGI will easily pay off its short-term obligations.\nSolid Price Upside Potential for SPGI Shares\nThe average short-term price target of brokerage firms represents an increase of 15.8% from the last closing price of $507.26. The brokerage target price is currently in the range of $535 - $620. This indicates a maximum upside of 22.2% and no downside.\nS&P Global has an expected revenue and earnings growth rate of 12% and 20.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.5% in the last seven days.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAmazon.com, Inc. (AMZN) : Free Stock Analysis Report\nKLA Corporation (KLAC) : Free Stock Analysis Report\nNewmont Corporation (NEM) : Free Stock Analysis Report\nS&P Global Inc. (SPGI) : Free Stock Analysis Report\nUber Technologies, Inc. (UBER) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","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/2483054471"}