Category Archives: oud

Which 3 Top Stocks Are Paving Outsized Gains?

Concrete and construction aggregate makers are enjoying continued demand fueled by projects to repair roads, bridges and expand public transportation. The group moved up to No. 30 among IBD’s 197 industry groups in Thursday’s issue, up sharply from No. 115 six weeks ago. Five building-related groups made the top 30 groups. And the overall building sector has been strong, coming in at No. 4 of the 33 sectors tracked by IBD. U.S. Concrete ( USCR ) has racked up a 24% year-to-date gain, well ahead of the S&P 500’s 2% advance. Shares are extended 10% from a 59.50 cup-with-handle buy point initially cleared March 21 in heavy trade. The Texas-based ready-mix concrete producer earns top-notch ratings in the group: 99 Composite, 99 Earnings Per Share and 97 Relative Strength. A B+ Accumulation/Distribution Rating and 1.6 up-down volume ratio suggest recent institutional demand for shares. The company has notched double-digit or better profit and sales growth the past six quarters. Analysts expect Q1 earnings to be flat at 22 cents a share on a 29% revenue increase to $221.14 million, when U.S. Concrete reports May 5 before the open. Vulcan Materials ( VMC ), up 14% year to date, is still in buy range from a 106.93 buy point it first eclipsed on April 1. Volume was about average that day, instead of the 40% ideal minimum on a breakout. But the stock has held most of its gains from the entry. It’s currently 2% above the buy point. The Alabama-based company provides ready-mix concrete as well as rock, gravel, sand and asphalt mix to the construction and paving industries. It also earns a 99 Composite Rating. Other ratings include a 78 EPS, 92 RS and B+ Accumulation/Distribution. When Vulcan reports Q1 results May 3 before the open, analysts will be looking for a per-share profit of 6 cents on $711.03 million in sales. That would mark a reversal from a 16-cent loss and a 13% revenue bump from the same year-ago period. Martin Marietta Materials ( MLM ) has rallied 25% so far this year. The stock previously cleared a 157.66 cup-with handle buy point March 31 in slightly higher-than-usual volume. It’s since formed a higher handle and remains in buy range from a 168.33 entry, which it climbed past last week in low turnover. The Raleigh, N.C.-based company, which has a 97 Composite, 93 EPS and 92 RS, reports May 5 before the open. Analysts expect 35 cents a share on $663.73 million in revenue. Martin’s three-year earnings growth rate is 33%, with estimates for a 48% jump this year and 35% the next. Like its peers, Martin Marietta has a positive Accumulation/Distribution Rating and up-down volume ratio. Highly rated funds owning shares in Q1 included CGM Focus ( CGMFX ) and Fidelity Contrafund ( FCNTX ).  

Facebook Surges To New All-Time High But Closes Below Buy Range

Loading the player… After Facebook ’s ( FB ) stellar quarterly report Wednesday evening, the social networking giant’s stock hit a new all-time high in the stock market today . For most of the day, the stock was trading in buy range, but Facebook closed the regular session just below that level. The attempted breakout comes as other big names have recently neared buying opportunities but crumbled on their quarterly results, including Google owner Alphabet ( GOOGL ), Microsoft ( MSFT ) and Starbucks ( SBUX ). Facebook’s earnings jumped 83%, while sales grew 52%. Both topped views and marked a third straight quarter of accelerating growth for the top and bottom lines. Shares jumped 7.2% in huge volume, hitting a new all-time high  and breaking out of a cup-with-handle base with a 117.09 buy point in intraday trade. But the stock faded as the market sold off and closed the day at 116.73. After hours, the stock rose a fraction to reclaim the buy point. Facebook earns an IBD Composite Rating of 95 out of 99, meaning its shares outperform 95% of all stocks in the market, based on fundamental and technical factors. IBD’s Take: How healthy are the shares of Facebook and its rivals? Find out at IBD Stock Checkup Alphabet gapped below its 50-day line after its report last week. Shares tested support at the 200-day line in Wednesday’s session and are breaching that level today. Alphabet is now trading 12% below its February high, down 2.3% in intraday trade. Microsoft also gapped below its 50-day line in the wake of its results last week. Shares are breaking below their 200-day line in intraday trade Thursday, falling 2%, and are about 12% below their December peak. Starbucks is now trading below its 50-day and 200-day lines, and hit a new two-month low in intraday trade as it fell 0.8%. Shares are 11% below their October high. And while Apple ( AAPL ) wasn’t near buy range ahead of its report Tuesday night, shares gapped down to a two-month low on disappointing results. Apple is 28% below its high, reached exactly one year ago today, with shares down 3.1%. Meanwhile, Amazon ( AMZN ) was flirting with trading in buy range ahead of its quarterly report after the close. Shares jumped late on view-topping results.

Symantec CEO Stepping Down As Trimmed Q4 Guidance Disappoints

Symantec ( SYMC ) CEO Michael Brown will step down, the No. 3 cybersecurity firm announced Thursday after trimming fiscal Q4 guidance on dwindling licensing sales. Symantec stock crashed to its lowest point in more than a month. Shares closed down 6.7% at 16.89, recovering minimally from an 8% plunge earlier in the day. Shares hit a year-high 18.85 on March 21, but have since declined 11.6%. For its fiscal Q4 ended April 1, Symantec trimmed its sales view to $873 million, representing a 6% drop, from earlier expectations for $885 million to $915 million, and now sees 22 cents earnings per share, down 24%, vs. prior guidance for 24-27 cents. The consensus of analysts polled by Thomson Reuters had called for $893.1 million and 24 cents. Symantec will officially announce its fiscal Q4 results after the close May 12. Brown will serve until a new CEO is hired. Through the transition, the board tapped Silver Lake Partners exec Ajei Gopal, Symantec Chief Financial Officer Thomas Seifert and Symantec Executive Vice President Scott Taylor to collectively carry out the role of “office of the president.” The office will remain in place until a new CEO joins the company, Symantec said in a release. Together, the trio will focus on cost-cutting measures to reduce costs by $400 million over the next two years. Symantec’s May 26 financial day has been postponed.