Major averages rose on higher though below average volume, A number of leading stocks have outperformed and a number of new actionable names have been observed. The Chinese Shanghai stock market has also moved dramatically higher, more than 20% in the last 20 trading days, with its central bank favoring an accelerated pace of quantitative easing.
Pocket pivots in yesterday's action:
Drug maker Akorn (AKRX) - earnings and sales are skyrocketing, pretax margin 38.2%, ROE 44.1%, institutional sponsorship has grown 10 quarters in a row, group rank 3. Keep in mind this stock has a number of gaps in its pattern so risk is elevated.
Drug maker Mallinckrodt (MNK) - earnings and sales are skyrocketing, institutional sponsorship has grown since the company came public or 7 quarters in a row, group rank 3.
Chinese internet retailer Vipshops (VIPS) - earnings and sales are skyrocketing, ROE 61.3%, institutional sponsorship has grown 8 quarters in a row, group rank 51.
Airline company JBLU - earnings are accelerating, group rank 12. Airlines have benefited from the low cost of oil.
Construction products company Trex Co. (TREX) - earnings are accelerating, ROE 37.8%, group rank 15. We reported on this company March 30.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
