S&P 500 Biotech Giant Vertex Leads 5 Stocks Showing Strength

Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

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STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.

What Is The Best Online Business to Start?

You might think that if the economy is so bad, what hope have I got with an internet business or digital business. Well, the first thing to remember is that a digital business has to potential to sell products and services to people from all over the world. So the best online business to start is one that has a wide appeal – although not too wide as the competition might be too strong.To start an internet business you do not need a lot of technical skills nor do you need to spend a lot of money to get started. But what is the best online business to start?Start an online business about something that you are interested inThe best online business to start is one that is about something that interests you. It is going to be very challenging for you to keep your enthusiasm going if you are trying to start a business about, say, computer games, and you have no interest in computer games what so ever. When you start your own online business you are going to have good days when everything goes right and days when everything goes wrong. When things go wrong or when people get stuck, it is normally the time that people give up on their business idea. But, if you enjoy and believe in your product or service you will be more determined to keep going.Make your online business easy to understandWhen people look for information on products or services on the internet they jump from website to website very quickly. You have to make sure that when somebody visits your website that they can instantly see and understand the benefits of the products or services that you are offering. Your products and services should solve problems for your target audience, or make life easier for them. If they do not see how your business will help them, they will move on to another website, never to return.The best online business to start will need some investmentIt is important to remember that your online business is a business and not a hobby. Some people still think that they can somehow have some sort of website that will cost them nothing but earn them millions. These ‘push button, get rich quick’ programs do not work. Whilst the set up costs for a legitimate internet business are a lot less than a traditional bricks and mortar business, it will need investment for such items as a website, hosting, marketing and training and education.Proven success recordIf you have been looking on the internet for the best online business to start, you will have found many different and tempting business proposals. Before you jump in, do check a few things. Make sure you check the quality of the product or service that you are going to promote. Ideally you should buy it to test it yourself to make sure that it is a genuine and viable product. Check the history of the business. Look into their previous and present sales data, their marketing systems and other people’s experiences with them. Remember that your online reputation is very important and if you try and sell rubbish, it will be very difficult to repair a tarnished reputation.Education and trainingThe best online business to start is one that provides you with regular training and updates to ensure that you can provide the best possible value to your customers. It is also important to have a mentor. This person will be able to guide you and help you avoid any mistakes that will have made when they started their business. Your business will find success quicker with proper guidance.Finding the best online business to start does require some work upfront and there is no ‘one size fits’ all solution. However, if you follow the points above you will be well on your way to online business success.

Hip Hop Fashion Trends – Then and Now

Hip hop fashion trends are not a newcomer to the fashion scene by any means. In fact, this style has been around since the 1980′s, when celebrities like Will Smith and Christopher “Kid” Reid showed youth how it should be done. Of course, hip hop fashion trends have evolved over the past two decades as tastes and styles have changed to correspond with the culture of the time. The following will offer you a brief but colorful history into the world of hip hop, with some of the current fashion design today.Early Hip Hop In the 1980′s, major brand names became synonymous with the hip hop fashion trends. Brands like Nike, Adidas and Clark shoes were sported with leather bomber jackets and brightly-colored track suits. Sports jerseys were a hot commodity, with Will Smith showing them off in his hit television show, The Fresh Prince of Bel-Aire. This was the time when heavy gold jewelry and large sunglasses came into play, creating an image of wealth and luxury in the hip hop culture of this time. In the latter part of this decade, MC Hammer and other rappers introduced hip hop fashion trends like baggy pants and baseball caps.The Gangsta Look In the 1900′s, hip hop fashion trends shifted to the gangsta look in the fashion of the Los Angeles Chicano gangsters. This style sported baggy pants that were worn low and without a belt, shirt tails hanging outside the pants and bandanas on the head. In the midst of this fashion trend, designers were also providing something that the youth of this time liked, and brands like Tommy Hilfiger, Polo and Nautica also came into vogue. At this time, hip hop fashion trends evolved into urban streetwear, with names like Mecca USA, Lugz and Rocawear coming into play.Flash and Bling The turn of the century saw hip hop fashion trends switch to flashy ensembles and bling bling jewelry, made popular by the likes of Jay-Z and The Hot Boys. High end designers like Gucci came onto the hip hop scene during this time as well. Today, the hip hop look has toned down somewhat, with hip hop fashion trends that are more tailored and professional – preppie hip hop, if you will. However, since the hip hop fashion trends are primarily embraced by youth, this style will always be cutting edge and separate from the fashion mainstream. After more than two decades on the fashion scene, it appears that this trend is more than just a trend – it is a fashion icon that is here to stay.