52.40 -0.33 (-0.63%)
Pre-Market: 7:15AM EDT
|Bid||51.75 x 800|
|Ask||55.14 x 800|
|Day's Range||50.50 - 53.04|
|52 Week Range||34.18 - 72.27|
|Beta (3Y Monthly)||2.90|
|PE Ratio (TTM)||77.20|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||32.90|
We're seeing similar action on Tuesday as we did on Monday. Major U.S. stock indices started off lower on the day, with bears unable to gain meaningful ground and bulls trying to bid stocks back up into positive territory. The best part of these kinds days is the ability to take measured risk/reward day trades. It also gives us a chance to find some top stock trades. Top Stock Trades for Tomorrow 1: U.S. SteelShares of U.S. Steel (NYSE:X) are getting pummeled on Tuesday, down more than 9% on the day. It's got shares breaking down from the 20-day moving average and really not having any support nearby to cling to.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Risky Stocks to Watch as Earnings Season Kicks Off The next spot to watch will be $17, just below the stock's 52-week lows. If it gets there, investors need to see if this is a good level for a bounce or if X will continue even lower. On rallies, see how X handles the 20-day. Top Stock Trades for Tomorrow 2: Canada GooseAnother stock struggling with its 20-day moving average is Canada Goose (NYSE:GOOS). Despite the company's strong earnings report in February, GOOS is being squeezed lower against support.It's above short-term downtrend resistance, but still has plenty of resistance overhead. If it can get through the 20-day, a rally to the 50-day and perhaps $52 could be in the cards. Otherwise, investors have to start thinking about the downside.Below $47.50 and $43 to $44 is on deck. Below that and the December lows could be next. GOOS is looking ugly right now until it can put in some higher lows and takeout some resistance levels. Top Stock Trades for Tomorrow 3: TwitterAfter nine straight up days, Twitter (NYSE:TWTR) stock is getting into some overhead resistance and the stock is technically overbought, albeit barely. The bottom line? This isn't the time to initiate a long position, particularly with TWTR stock running right into range resistance.This could always be "the time," where Twitter stock breaks out. For me though, the risk/reward is simply not favorable. A pullback to $33-ish wouldn't be unhealthy and I'm not risking $2+ a share without having an upside target while Twitter is teetering on resistance if I can nab a safer entry.Bulls should wait for a buyable breakout trade or a pullback. Top Stock Trades for Tomorrow 4: MicronThe lesson we applied with Twitter can be highlighted with Micron (NASDAQ:MU). Last Wednesday, it looked like Micron was about to breakout, only to fail at resistance and pullback.Bulls who bought at $45 are underwater by almost $3.50 a share (an unrealized loss of 7.8%) all the while Micron still looks pretty healthy. At the time, I said some "caution may be warranted" and liked the idea of bulls buying on a test of the 50-day.I still stand with that idea, looking to buy about $1 a share below this mark. More aggressive bulls may feel comfortable stepping in now, but for me and in this choppy market, I'd rather risk missing a trade than taking on additional risk. Top Stock Trades for Tomorrow 5: Agilent TechnologyAgilent Technologies (NYSE:A) continues to trade very well, with shares putting in a series of higher lows and running into resistance near its highs.Investors can buy on pullback into uptrend support and the 20-day moving average, or trade a breakout over $82. A breakout trade could setup like this trade in Dentsplay (NASDAQ:XRAY).Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.Compare Brokers The post 5 Top Stock Trades for Wednesday: Micron, Twitter, U.S. Steel appeared first on InvestorPlace.
Canada Goose Holdings Inc. said Tuesday that it plans to open six stores during the fall and winter of 2019. The new U.S. location will be in Minnesota's Mall of America, bringing the number of stores in the U.S. to five. In Canada, the new stores will be in Toronto, Alberta and Banff. And the two in Europe will be in Milan's Fashion District and on the Rue St. Honoré in Paris. This will add to the 11 existing stores in Canada Goose's fleet. Each of the European stores, the U.S. location, and the Alberta store will have the Canada Goose "Cold Room" where items can be tested in extreme conditions. Canada Goose stock is up 3% in Tuesday trading, and nearly 12% in 2019. The S&P 500 index has gained 15% for the year so far.
Canada Goose stores deliver on that and more," said Dani Reiss, President and CEO, Canada Goose. Canada Goose will open its first store in Italy on Via della Spiga, one of the most sophisticated streets in Milan's Fashion District, the epicentre of global luxury apparel brands. In the U.S., Canada Goose will open its fifth location in Minneapolis, Minnesota at Mall of America, one of the top tourist destinations in the country and a renowned leader in retail, dining and entertainment.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains discusses three sports retail stocks to buy right now as the market continues to hum along in 2019.
Gap (GPS) witnesses softness in the flagship brand for quite some time now. Nevertheless, its latest brand revitalization & spin-off plans appear encouraging.
L Brands (LB) is struggling to reset the dwindling Victoria's Secret brand. Also, sluggishness in PINK brand, dismal margin and a high debt level add to the company's woes.
American Eagle (AEO) gains from its strategic initiatives including omni-channel efforts and brand strength. Also, the company marks 16th straight quarter of positive comps.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains dives into three sports and outdoor-focused retail stocks that look like strong buys right now.
Hibbett (HIBB) benefits from robust omni-channel efforts including improving e-commerce penetration and expanding loyalty program.
Nordstrom (JWN) witnesses soft gross margin for some time now. Nevertheless, its omni-channel efforts including store-expansion and e-commerce are encouraging.
Investors in the round include Target Corp., New Enterprise Associates and Norwest Venture Partners, as well as new backers including Dani Reiss, the chief executive officer of Canada Goose Holdings Inc. and Gordon Segal, co-founder and former chairman of Crate & Barrel. The startup has also added new independent board directors including Reiss and Karen Katz, Under Armour Inc. board member and former CEO of Neiman Marcus Group Inc., which she sits on the board of as well. The company operates in the U.S., Canada, U.K., Germany, Switzerland and Austria.
Bed Bath & Beyond (BBBY) issues a statement in response to the activist investor group, which is likely to make major changes to the board of directors.
Shares of Lululemon (LULU) slipped over 2% Tuesday, in a sign that some investors might be nervous about the yoga apparel and athleisure giant's fourth quarter 2018 financial results that are due out after the closing bell on Wednesday.
Editor's note: This column is part of our Best Stocks for 2019 contest. Back in Mid-December, I made my pick for InvestorPlace's Best Stocks for 2019 contest. I was going with Canada Goose (NYSE:GOOS), the Canadian outdoor wear company whose parkas have taken the world by storm delivering a 39% return for owners of GOOS stock in 2018. As we head into the second quarter of 2019, I'm tasked with looking at what's happened to GOOS stock in the past quarter, and where it's headed in the second quarter and beyond. InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company itself continues to do well heading into 2019's second quarter. GOOS stock was doing fine through the end of February, trading above $57, putting my pick solidly in third place in InvestorPlace's 2019 stock picking contest. But oh, what a difference a month can make. Down 18% since March 1, I've moved from solidly in contention, to seventh place with a 10% return, well below Matt McCall's blistering hot selection: Charlotte's Web Holdings (OTCMKTS:CWBHF), which is up 81% over the same period. * 7 Dual-Class Stocks That Will Outperform Sure, I could whine about the fact cannabis stocks are in a league of their own -- ETFMG Alternative Harvest ETF (NYSEARCA:MJ) is up 48% year to date through March 22 -- but that would neglect the fact I too could have picked a cannabis stock. Well played, Matt. Well played. So, I'm just going to have to keep the faith that Canada Goose stock can take flight in the second quarter. The big question is will it? Here's Why I Like GOOS Stock's ChancesIn late January, Wells Fargo (NYSE:WFC) Senior Analyst Ike Boruchow downgraded GOOS stock from "Outperform" to "Market Perform" suggesting that the risk/reward had gotten too high. At the time, GOOS was trading at $46, approximately where it trades today. Boruchow dropped his 12-month target price from CAD$80 to CAD$68, a 15% cut in its future share price."Our revised view on the stock is multi-faceted -- driven by changes in perception to the branded space, valuation and to a lesser extent engagement," Boruchow wrote in January."While we remain confident on the trajectory of the GOOS brand and the fundamental story that has developed since their IPO in 2017, we feel the risk/reward today is not as compelling as it once was."The analyst wasn't suggesting that Canada Goose's potential wasn't real, just that the company's stock price was too high, at this stage in the company's maturing process. I would argue that Canada Goose's three-legged stool for growth I referred to in my initial article picking its stock is still very much alive despite the fact it trades for 63x cash flow. "Canada Goose is building a three-legged stool comprised of wholesale, brick and mortar, and online revenues that will thrive not only in the winter, the best time to wear one of its parkas, but summer too," I wrote December 17.The business that exists in five years won't look anything like what it looks like today because it will have built a balanced three-legged stool where online and brick-and-mortar become a more significant part of its overall business. The reality is that investors are willing to pay more for successful omnichannel retail. As Canada Goose continues to evolve and change in 2019 and beyond, investors will become more comfortable paying up for quality. For now, long-term GOOS shareholders can only grin and bear it. Your patience will be rewarded. Here's Why I Don't I have a problem with the company's use of coyote fur. It's a reason that I don't and won't own the stock despite believing that CEO Dani Reiss is building a terrific business. The arguments for and against Canada Goose using coyote fur are plentiful. Too many to list here. What's more worrisome than the cases themselves is the reality that the fur is unnecessary for keeping customers' heads warm and the amount of down used in the jackets is overkill thanks to global warming. According to recent data Axios reported in November, the earth has been warmer than average for 406 consecutive months. Put another way, no one under the age of 32 has ever experienced a cooler-than-average month anywhere in the world.Eventually, Canada Goose jackets are going to be unnecessary even for the most trendy because they'll be too darn hot. Not in my lifetime, mind you.Canada Goose is considered a one- or two-season business. If it can't figure out how to sell stuff in July, ultimately, its growth does have a ceiling.However, none of this is going to affect Canada Goose stock in 2019. For now, it just needs to continue reporting strong quarterly earnings. The Q4 results are due out in mid-June. The Bottom Line on GOOS Stock Canada Goose revised its 2019 outlook in February when it announced strong Q3 2019 earnings. In terms of revenues, it expects top-line sales growth in the mid-to-high thirties on a percentage basis, up from its November estimate of 30% growth. On the bottom line, it now expects earnings growth in the mid-to-high forties, up from 40%.The company's stock might face some valuation headwinds, but the company itself continues to deliver on its gameplan for growth. * 7 Marijuana Stocks to Play the CBD Trend Ultimately, that's going to push GOOS stock higher. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post Canada Goose Stock Will Take Flight Soon Enough appeared first on InvestorPlace.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains breaks down Nike's (NKE) Q3 fiscal 2019 financial results that led to a small selloff on the back of lower-than-expected sales in a key business. The episode then dives into what to expect from Lululemon's (LULU) Q4 earnings.