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The Zacks Analyst Blog Highlights: MGM Resorts, American Airlines, Blackstone Group, Extended Stay America and Eli Lilly
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For Immediate Release
Chicago, IL – March 16, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: MGM Resorts International (MGM - Free Report) , American Airlines Group Inc. (AAL - Free Report) , The Blackstone Group Inc. (BX - Free Report) , Extended Stay America, Inc. and Eli Lilly and Company (LLY - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Markets Up on Strength in Resorts, Airline Bookings
Both the Dow and S&P 500 set fresh all-time highs as of Monday’s closing bell, ramping up in the final minutes of the regular trading day. Most of the session, positive sentiment had been rather tepid overall, but the race northward took the Dow up 173 points, +0.53%, the S&P 500 +0.64%, the Nasdaq +1.05% to lead all major indexes, and the small-cap Russell 2000 breaking into the green late in the day, +0.31%.
As stimulus checks hit bank accounts across the nation and more Americans get their Covid-19 vaccine shots, pent-up demand in Travel & Leisure saw some big gains in select stocks yesterday. MGM Resorts gained 5% on the day as Las Vegas casino capacity regulations are being eased from 35% to 50%. So far this year, MGM is +30%. Flush checking accounts and less restricted vacation travel should spell profits across this industry.
Airlines are in much the same boat, as bookings have been gaining momentum over the past few weeks — +14% in just the last week alone. Shares of American Airlines were up 7% on the day (+75% from a year ago) while United Airlines rose 8%. And Blackstone Group, along with Starwood, has paid $6 billion in all cash to purchase Extended Stay, which gained 13.5% on the day.
It wasn’t all stupendous news pointing to the Great American Reopening, however; as we mentioned, market indexes had been a tad lackluster for most of the trading day, only storming higher into the close. Eli Lilly dropped 9% on a less-than-stellar note about its Alzheimer’s Disease drug testing, falling an additional 100 basis points ahead of the closing bell. The drug maker is still up 14% year to date, with its Covid antibody treatment showing good strides in keeping coronavirus sufferers out of the hospital.
Tuesday morning we will see new economic data on Retail Sales, Import Prices and Industrial Production/Capacity Utilization, further articulating how price strength and productivity are manifesting in both Goods and Services industries over the past month. On the retail side, a seasonally slow period is following the later weeks of the holiday shopping season. Otherwise, we look for improvements in the data which suggest further gathering of economic traction.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: MGM Resorts, American Airlines, Blackstone Group, Extended Stay America and Eli Lilly
For Immediate Release
Chicago, IL – March 16, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: MGM Resorts International (MGM - Free Report) , American Airlines Group Inc. (AAL - Free Report) , The Blackstone Group Inc. (BX - Free Report) , Extended Stay America, Inc. and Eli Lilly and Company (LLY - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Markets Up on Strength in Resorts, Airline Bookings
Both the Dow and S&P 500 set fresh all-time highs as of Monday’s closing bell, ramping up in the final minutes of the regular trading day. Most of the session, positive sentiment had been rather tepid overall, but the race northward took the Dow up 173 points, +0.53%, the S&P 500 +0.64%, the Nasdaq +1.05% to lead all major indexes, and the small-cap Russell 2000 breaking into the green late in the day, +0.31%.
As stimulus checks hit bank accounts across the nation and more Americans get their Covid-19 vaccine shots, pent-up demand in Travel & Leisure saw some big gains in select stocks yesterday. MGM Resorts gained 5% on the day as Las Vegas casino capacity regulations are being eased from 35% to 50%. So far this year, MGM is +30%. Flush checking accounts and less restricted vacation travel should spell profits across this industry.
Airlines are in much the same boat, as bookings have been gaining momentum over the past few weeks — +14% in just the last week alone. Shares of American Airlines were up 7% on the day (+75% from a year ago) while United Airlines rose 8%. And Blackstone Group, along with Starwood, has paid $6 billion in all cash to purchase Extended Stay, which gained 13.5% on the day.
It wasn’t all stupendous news pointing to the Great American Reopening, however; as we mentioned, market indexes had been a tad lackluster for most of the trading day, only storming higher into the close. Eli Lilly dropped 9% on a less-than-stellar note about its Alzheimer’s Disease drug testing, falling an additional 100 basis points ahead of the closing bell. The drug maker is still up 14% year to date, with its Covid antibody treatment showing good strides in keeping coronavirus sufferers out of the hospital.
Tuesday morning we will see new economic data on Retail Sales, Import Prices and Industrial Production/Capacity Utilization, further articulating how price strength and productivity are manifesting in both Goods and Services industries over the past month. On the retail side, a seasonally slow period is following the later weeks of the holiday shopping season. Otherwise, we look for improvements in the data which suggest further gathering of economic traction.
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More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.