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⛈️ Piper Sandler's Storm Stocks
Plus, can a robot behind the wheel win hearts or will fear take the driver’s seat?
Happy Friday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.
🟥 | US stocks fell Monday as oil price and interest rate concerns hit market sentiment; the Dow dropped 0.9% points, S&P 500 fell 1%, Nasdaq 1.2%.
📈 | One Notable Gainer: Generac Holdings shares surged 8.5% as Hurricane Milton strengthened to a Category 5 storm. ICYMI: We wrote about Generac Holdings as a stock idea just under two weeks ago.
📉 | One Notable Decliner: Property and casualty insurance stocks fell as Hurricane Milton intensified, with Universal Insurance dropping 19.6%.
⛈️ | Tomorrow's Trade: Piper Sandler’s Storm Stocks. Scroll down for more.
Plus, today’s partner is a chartered market technician who is giving a tutorial on his options trading strategy. Click here to sign up.
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S&P 500 Heatmap. Credit: Finviz
All Stock Heatmap. Credit: Finviz
Global ADR snapshot. Credit: Finviz
MARKET MOVERS
GRMN (-4.1%) Garmin Shares Gap Down - Here's What Happened (MarketBeat)
PFE (+2.2%) Starboard Value takes $1 billion stake in Pfizer: Reports (YF)
HSY (-2.3%) NewEdge Advisors LLC Sells 6,032 Shares of The Hershey Company (MarketBeat)
APD (+9.5%) Air Products Stock Is Surging. Here’s Why. (IBD)
CIEN (-4.7%) Ciena Downgraded: Analyst Cites Telco Spending Slump And Margins Squeeze (Benzinga)
OVERHEARD ON THE STREET
TechCrunch: Comcast reported a ransomware attack on its debt collection agency exposed the personal data of over 230,000 customers.
QZ: McDonald's is suing Tyson Foods and others for colluding to reduce beef supply since 2015, driving up prices unfairly.
WSJ: Chevron is selling its oil sands and shale assets in Alberta to Canadian Natural for $6.5 billion as part of its 2028 divestment plan.
NBC News: Panera settled with the family of 21-year-old Sarah Katz, who died after consuming Charged Lemonade, days before trial.
QZ: Boeing is resuming negotiations to end a strike affecting over 30,000 workers, with economic impacts likened to Hurricane Helene.
TOMORROW’S TRADE IDEA, TODAY
Piper Sandler’s Storm Stocks
Heartbreaking Hurricanes
Hurricane Helene tore through the Southeast U.S. recently, leaving widespread destruction and claiming at least 227 lives as of the most recent update. On Monday, Moody's Analytics estimated the storm's financial impact could reach between $20 billion and $34 billion, with property damage alone ranging from $15 billion to $26 billion.
If that wasn’t bad enough, Hurricane Milton is forming in the Gulf as we press publish on this newsletter. The storm intensified into a powerful Category 5 hurricane earlier today and is now targeting Florida’s storm-weary western coast.
Before we dive into the rest of the article, we think it’s important to say that we are absolutely heartbroken for the families impacted by Helene, and those in Milton’s path. You can click here to help people affected by these Hurricanes. We donated earlier today.
Piper Sandler’s Picks
According to Piper Sandler’s Keith Keithler, hurricanes like Milton can give stocks like Home Depot (HD) and Lowe’s (LOW) a short-term bump.
The logic is pretty straightforward: when Mother Nature hits hard, people need tools, materials, and supplies to get things back in shape. From plywood to power generators, Home Depot and Lowe’s are the go-to for storm-struck homeowners, which can lead to a sales boost.
Rate Cuts Could Also Help
As if hurricane season wasn’t enough to fuel optimism for Home Depot and Lowe’s, the Fed’s recent rate cuts could give these stocks an extra boost. Lower borrowing costs make it easier for consumers to finance home repair projects—whether it’s an emergency fix or that renovation they’ve been putting off.
With cheaper loans on the table, analysts are eyeing increased spending at both retailers, setting up a potential one-two punch for their stock performance in the coming months.
Which stock do you think will outperform over the next 3 months? |
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ON OUR RADAR
AP: States scramble to address the loss of affordable housing as rents double, leaving low-income tenants at risk of eviction and displacement.
QZ: Goldman Sachs predicts the S&P 500 will reach 6,000 by year-end, raising estimates amid a 20% YTD surge and reduced recession odds.
AP: Black and Latina women are gaining top union leadership roles, driving wins in parental leave, health care, and harassment protections.
NBC News: Sen. Elizabeth Warren and Rep. Madeleine Dean urge General Mills, Coca-Cola, and PepsiCo to end "shrinkflation" and profiteering.
CNBC: Robotaxis are arriving in America, but nearly two-thirds of the public distrusts them due to past accidents and unfamiliarity with the technology.
YESTERDAY’S POLL RESULTS
🟩🟩🟩🟩🟩🟩 🐂 Bullish
🟨🟨⬜️⬜️⬜️⬜️ 🐻 Bearish
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