New record closes for the Nasdaq and S&P 500 Thursday sets us up for easily the best-performing week of June so far. The Nasdaq rides a 4-day winning streak, while the S&P has notched its 30th record close of 2021 — and we’re barely more than half-way through the year. The Dow gained 322 points, +0.95%, while the S&P came in +0.58%, the Nasdaq +0.69% and the small-cap Russell 2000 once again taking the cake, +1.31%.A bipartisan (!) infrastructure bill on Capitol Hill was announced today by President Biden, surrounded by some of his former cohorts in the U.S. Senate at the White House. The $579 billion package includes $312 billion for Transportation — including airports, roads & bridges and Amtrak rail — and $266 billion labeled “Other.” This will include, among other things, replacing 100% of lead water pipes in the U.S., which are found almost exclusively in low-income neighborhoods.
The “pay-fors” on this bill are sketched out as: a reduced tax gap, unemployment insurance integrity, repurposed Covid funds and good-ol’ economic growth. Democrats on the Hill also expect a separate reconciliation bill (whereby their slim majority can pass without threat of filibuster) where other assistance they consider “infrastructure,” such as electric vehicle subsidies and child care sourcing, will have a chance to pass.
FedEx (FDX - Free Report) posted mixed results in its fiscal Q4 earnings report after today’s close: $5.01 per share nearly doubled the year-ago print of $2.53, but missed the Zacks consensus by 3 cents. Revenues of $22.6 billion surpassed estimates for $21.7 billion in the quarter. Next quarter revenue guidance was bumped up slightly, but it was not enough to keep the stock from falling 4% on the news in late trading.
Nike (NKE - Free Report) , on the other hand, swooped well past estimates on moth top and bottom lines this afternoon: 93 cents per share clobbered the 57 cents in the Zacks consensus, and $12.3 billion in sales grew 96% year over year, and topped the $11.1 billion expected. Of course, much of this success is due to extremely easy year-over-year comps, though Nike also put up strong numbers elsewhere.
For instance, in greater China — which was supposed to be a weak spot for the shoes and apparel giant for its fiscal Q4 — grew 17% year over year, while North America zoomed up 141%. The company’s digital sales segment have provided Nike with excellent gross margins: +8.5% to 45.8%. Shares, as a result, are up 4% in the after-market. That said, the stock is still down year-to-date by another 4%.
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Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
New record closes for the Nasdaq and S&P 500 Thursday sets us up for easily the best-performing week of June so far. The Nasdaq rides a 4-day winning streak, while the S&P has notched its 30th record close of 2021 — and we’re barely more than half-way through the year. The Dow gained 322 points, +0.95%, while the S&P came in +0.58%, the Nasdaq +0.69% and the small-cap Russell 2000 once again taking the cake, +1.31%.
A bipartisan (!) infrastructure bill on Capitol Hill was announced today by President Biden, surrounded by some of his former cohorts in the U.S. Senate at the White House. The $579 billion package includes $312 billion for Transportation — including airports, roads & bridges and Amtrak rail — and $266 billion labeled “Other.” This will include, among other things, replacing 100% of lead water pipes in the U.S., which are found almost exclusively in low-income neighborhoods.
The “pay-fors” on this bill are sketched out as: a reduced tax gap, unemployment insurance integrity, repurposed Covid funds and good-ol’ economic growth. Democrats on the Hill also expect a separate reconciliation bill (whereby their slim majority can pass without threat of filibuster) where other assistance they consider “infrastructure,” such as electric vehicle subsidies and child care sourcing, will have a chance to pass.
FedEx (FDX - Free Report) posted mixed results in its fiscal Q4 earnings report after today’s close: $5.01 per share nearly doubled the year-ago print of $2.53, but missed the Zacks consensus by 3 cents. Revenues of $22.6 billion surpassed estimates for $21.7 billion in the quarter. Next quarter revenue guidance was bumped up slightly, but it was not enough to keep the stock from falling 4% on the news in late trading.
Nike (NKE - Free Report) , on the other hand, swooped well past estimates on moth top and bottom lines this afternoon: 93 cents per share clobbered the 57 cents in the Zacks consensus, and $12.3 billion in sales grew 96% year over year, and topped the $11.1 billion expected. Of course, much of this success is due to extremely easy year-over-year comps, though Nike also put up strong numbers elsewhere.
For instance, in greater China — which was supposed to be a weak spot for the shoes and apparel giant for its fiscal Q4 — grew 17% year over year, while North America zoomed up 141%. The company’s digital sales segment have provided Nike with excellent gross margins: +8.5% to 45.8%. Shares, as a result, are up 4% in the after-market. That said, the stock is still down year-to-date by another 4%.
Questions or comments about this article and/or its author? Click here>>
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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