Stocks
Pro-Union Marty Walsh Confirmed As Labor Secretary
Yesterday, the Senate confirmed two-term Boston Mayor Marty Walsh as the new Labor Secretary in a 68-29 vote. Walsh will now head the Department at a critical juncture, with the pandemic claiming millions of jobs and highlighted workplace safety concerns. He pledged to protect unions and raise the minimum wage.
News For The Day: The Warren Buffett Indicator Is Ringing the Alarm to Sell
5 Stocks to Watch Out For Tuesday, March 23
Kansas City Southern ▲(KSU 249.09 USD +24.93 (11.12%)) stocks went up by 11.12% during yesterday’s trading. Kansas is the latest railroad company to go aboard the Canadian Pacific acquisition journey. Canadian Pacific announced it will acquire KSU for around $25 billion. This gives Canadian Pacific the rail network that connects Canada, the US, and Mexico.
Splunk Inc ▲(SPLK 141.17 USD +6.13 (4.54%)) enjoyed a rise from Monday’s trading hours, gaining 4.54% during the day. Splunk is currently enjoying the confidence of the majority of investor firms covering it. 38 firms have a “Buy” rating versus 1 for “Sell” and 11 others with “Hold.” Despite its loss of 18% over the last three months, the big data company looks However, it’s now playing catch up with the rest of the field. While Splunk’s revenue fell 6% from a year ago, ARR was up 41% to $2.36 billion. Cloud-based ARR was up 83%, to $810 million. Don’t let go just yet.
Dollar General Corp. ▲(DG 193.96 USD +6.18 (3.29%)) stocks continued to rise after its spectacular fourth-quarter results. Dollar General's lackluster guidance for the coming quarter is the consumer staples company taking a conservative approach to its outlook, as the forecast did not factor in expected benefits from government stimulus. However, analysts at Raymond James remain optimistic about the company’s long-term growth prospects. DG remains a compelling valuation for investors.
Sunrun Inc ▲(RUN 57.38 USD +1.80 (3.24%)) shares went up 3.2% in Monday’s trading after getting more notices from investment firms. Susquehanna began covering the stock Monday and started with a positive rating and a $75 price target. The company sees “strong residential growth” for the solar company, especially with the new administration’s push for environmental initiatives.
PepsiCo, Inc. ▲(PEP 137.80 USD +3.30 (2.45%)) shares traded briskly yesterday, gaining 2.45% in the process. Barclay’s liked Pepsi enough to upgrade the stock’s rating from “normal weight” to “overweight” and advised investors to look out for a “multi-year stock appreciation story.” Barclays sees Pepsi as a long-term play, especially with its viable path to accelerating top-line and profit delivery.
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