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The Zacks Analyst Blog Highlights: Newfield Exploration, Amazon.com, Bristol-Myers Squibb, Eaton and CF Industries Holdings

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Solaris Oilfield Infrastructure (SOI) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front

For Immediate Release

Chicago, IL – November 5, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Newfield Exploration Company NFX, Amazon.com Inc. AMZN, Bristol-Myers Squibb Company BMY, Eaton Corporation PLC ETN and CF Industries Holdings Inc. CF.

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Here are highlights from Friday’s Analyst Blog:

5 Beaten-Down Stocks from October with Upside Potential

Wall Street witnessed wild swings in October, thanks to multiple woes including rising interest rates, political turbulence in Italy, Saudi tensions, tech sell-off, escalating US-China trade war and the prelude to mid-term election. The chaos resulted in S&P 500 posting its worst monthly performance since 2011.

After slipping into a correction territory, the index rebounded somewhat this week to close at down 6.9% for the month, buoyed by a slew of strong earnings as well as upbeat economic data that lifted investors’ sentiment. According to data from Howard Silverblatt of S&P Dow Jones Indices, the S&P 500 plunge shaved off $1.91 trillion in market cap last month with Amazon, Microsoft, NVIDIA, Facebook and Apple bearing the brunt.

The slowdown in global growth, especially in a few developing and developed economies, added to the woes. The International Monetary Fund recently slashed its global growth forecast by 0.2 percentage points for this year and the next, citing trade tensions between the United States and its trading partners, which have started to hurt economic activity worldwide.

A number of stocks incurred heavy losses last month. Below, we have highlighted five such stocks from the S&P 500 Index that were hit badly by market turmoil but might reverse the trend, given solid Zacks Rank #1 (Strong Buy) or 2 (Buy) and a solid VGM Score of B or better. Further, these stocks saw positive earnings estimate revisions last month and belong to a top-ranked Zacks Industry (top 45%), suggesting bright prospects.

Newfield Exploration Company – Down 32%

This company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. It witnessed solid earnings estimate revision of 9 cents for this year last month and has an expected growth rate of 65.1%. Newfield Exploration has a Zacks Rank #2 and a VGM Score of A. It further belongs to  a top-ranked Zacks industry (top 12%).

Amazon.com Inc. – Down 22.4%

It is engaged in the retail sale of consumer products and subscriptions in North America and internationally. It saw solid earnings estimate revision of $1.76 for this year in the past month and is expected to generate whopping earnings growth of 321.8%. The stock has a Zacks Rank #2 and a VGM Score of B. It belongs to the top-ranked Zacks industry (top 44%).

Bristol-Myers Squibb Company – Down 22.4%

This company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. It saw solid earnings estimate revision of 19 cents for this year during the last month and is expected to register earnings growth of 26.6%. BMY carries a Zacks Rank #1 and has a VGM Score of A. It belongs to a top-ranked Zacks industry (top 31%). You can see the complete list of today’s Zacks #1 Rank stocks here.

Eaton Corporation PLC  – Down 19.9%

This power management company is a provider of electrical products, systems and services for power distribution and control, power transmission, lighting and wiring products; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. The company saw positive earnings estimate revision of a penny for this year over the past month and has estimated growth rate of 15.48%. The stock has a Zacks Rank #2 and a VGM Score of B. It belongs to a top-ranked Zacks industry (top 36%).

CF Industries Holdings Inc. – Down 17.1%

This company is the global leader in transforming natural gas into nitrogen products. It witnessed positive earnings estimate revision of 9 cents for this year last month and has an expected growth rate of 708%. CF Industries has a Zacks Rank #1 and a VGM Score of A. It further falls into a top-ranked Zacks industry (top 5%).

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Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Bristol-Myers Squibb Company (BMY) : Free Stock Analysis Report
CF Industries Holdings, Inc. (CF) : Free Stock Analysis Report
Eaton Corporation, PLC (ETN) : Free Stock Analysis Report
Newfield Exploration Company (NFX) : Free Stock Analysis Report
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