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Stocks rallied on Jul 20 after positive developments with respect to coronavirus vaccine candidates cheered investors. The U.S. stock market had been through a roller coaster ride since the virus broke out and investors are now closely watching progress in vaccine development.
The life-threatening disease has wrecked havoc and infected nearly 14.9 million worldwide. So far in the United States, 3.96 million have been infected and the country is currently registering more than 60,000 new cases per day. The rise in new cases has been constantly hindering economic reopen plans and only a vaccine discovery can rekindle hopes in the market.
Potential Coronavirus Vaccine in Focus
A series of positive results in the coronavirus vaccine front seem to have eased worries arising from the spike in new cases. On Jul 20, drugmaker AstraZeneca along with the University of Oxford developed a coronavirus vaccine, called AZD1222, that showed promising results in early human testing (Phase 1 clinical trial), per reports released on Jul 20. The joint venture plans to move into larger trials. The vaccine increased levels of both protective neutralizing antibodies and immune T-cells that target coronavirus. According to researchers, the vaccine was found to be well-tolerated and did not show any serious side effect.
Additionally, BioNTech and Pfizer said that the COVID-19 vaccine candidate produced a T-cell response in people participating in a Phase 1/2 clinical trial in Germany, and can trigger an antibody response. The response bore similar results to the test conducted in the United States. In fact, the United Kingdom’s government has signed agreements to buy 90 million doses of vaccines in development by drugmakers including Pfizer, BioNTech and Valneva. Pfizer and BioNTech plan to supply 30 million doses of their vaccine candidate through 2020 and 2021.
Earlier, on Jul 15, Moderna scientists also reported that all 45 patients tested in the trial are building immunity against the virus. In fact, the antibodies produced were higher than those seen in people who have recovered from COVID-19.The new data of Moderna’s experimental vaccine contains genetic material called messenger RNA, or mRNA, which makes the vaccine safe and effective. And the company plans to prevent the spread of coronavirus by the end of this year or early 2021. Morderna plans to begin its late-stage trial for its vaccine on Jul 27 and will enroll 30,000 participants from 87 locations.
More than 150 vaccines candidates are now being developed and tested worldwide, and 23 of them are in human clinical trials. As vaccine developments keep providing positive outcome, markets are expected to rally higher.
5 Growth Stocks to Buy
Hence, we have shortlisted fivegrowth stocks, as investing in growth stocks seems prudent in the current scenario as they are poised to grow at a faster pace than the broader market. What’s more? These stocks flaunt a Zacks Rank #1 (Strong Buy) and possess a Growth Score of A.You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) offers perishable, edible grocery, general merchandise, and non-edible grocery products. The company’s expected earnings growth rate for the current year is 51.4% against the Zacks Consumer Services - Miscellaneous industry’s estimated earnings decline of 2.3%. The Zacks Consensus Estimate for its current-year earnings has climbed 27.8% over the past 60 days.
The Kroger Co. (KR - Free Report) operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. The company’s expected earnings growth rate for the current year is 29.1% compared with the Zacks Retail - Supermarkets industry’s estimated earnings growth of 8.2%. The Zacks Consensus Estimate for its current-year earnings has climbed nearly 15% over the past 60 days.
Lakeland Industries, Inc. (LAKE - Free Report) manufactures and sells industrial protective clothing and accessories. The company’s expected earnings growth rate for the current year is more than 100% against the Zacks Security and Safety Services industry’s estimated earnings decline of 6.7%. The Zacks Consensus Estimate for its current-year earnings has climbed more than 100% over the past 60 days.
Fortinet, Inc. (FTNT - Free Report) provides security solutions to all parts of IT infrastructure. The company has an expected earnings growth rate of 13.8% for the current year against the Zacks Security industry’s estimated decline of15.1%. The Zacks Consensus Estimate for its current-year earnings has moved 2.2% up over the past 60 days.
Smith & Wesson Brands, Inc. (SWBI - Free Report) designs, manufactures, and sells firearms. The company’s expected earnings growth rate for the current year is more than 100% against the Zacks Leisure and Recreation Products industry’s estimated earnings decline of 26.8%. The Zacks Consensus Estimate for its current-year earnings has climbed more than 100% over the past 60 days.
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 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Solid Coronavirus Vaccine Prospects Drive Markets: 5 Growth Picks
Stocks rallied on Jul 20 after positive developments with respect to coronavirus vaccine candidates cheered investors. The U.S. stock market had been through a roller coaster ride since the virus broke out and investors are now closely watching progress in vaccine development.
The life-threatening disease has wrecked havoc and infected nearly 14.9 million worldwide. So far in the United States, 3.96 million have been infected and the country is currently registering more than 60,000 new cases per day. The rise in new cases has been constantly hindering economic reopen plans and only a vaccine discovery can rekindle hopes in the market.
Potential Coronavirus Vaccine in Focus
A series of positive results in the coronavirus vaccine front seem to have eased worries arising from the spike in new cases. On Jul 20, drugmaker AstraZeneca along with the University of Oxford developed a coronavirus vaccine, called AZD1222, that showed promising results in early human testing (Phase 1 clinical trial), per reports released on Jul 20. The joint venture plans to move into larger trials. The vaccine increased levels of both protective neutralizing antibodies and immune T-cells that target coronavirus. According to researchers, the vaccine was found to be well-tolerated and did not show any serious side effect.
Additionally, BioNTech and Pfizer said that the COVID-19 vaccine candidate produced a T-cell response in people participating in a Phase 1/2 clinical trial in Germany, and can trigger an antibody response. The response bore similar results to the test conducted in the United States. In fact, the United Kingdom’s government has signed agreements to buy 90 million doses of vaccines in development by drugmakers including Pfizer, BioNTech and Valneva. Pfizer and BioNTech plan to supply 30 million doses of their vaccine candidate through 2020 and 2021.
Earlier, on Jul 15, Moderna scientists also reported that all 45 patients tested in the trial are building immunity against the virus. In fact, the antibodies produced were higher than those seen in people who have recovered from COVID-19.The new data of Moderna’s experimental vaccine contains genetic material called messenger RNA, or mRNA, which makes the vaccine safe and effective. And the company plans to prevent the spread of coronavirus by the end of this year or early 2021. Morderna plans to begin its late-stage trial for its vaccine on Jul 27 and will enroll 30,000 participants from 87 locations.
More than 150 vaccines candidates are now being developed and tested worldwide, and 23 of them are in human clinical trials. As vaccine developments keep providing positive outcome, markets are expected to rally higher.
5 Growth Stocks to Buy
Hence, we have shortlisted fivegrowth stocks, as investing in growth stocks seems prudent in the current scenario as they are poised to grow at a faster pace than the broader market. What’s more? These stocks flaunt a Zacks Rank #1 (Strong Buy) and possess a Growth Score of A.You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) offers perishable, edible grocery, general merchandise, and non-edible grocery products. The company’s expected earnings growth rate for the current year is 51.4% against the Zacks Consumer Services - Miscellaneous industry’s estimated earnings decline of 2.3%. The Zacks Consensus Estimate for its current-year earnings has climbed 27.8% over the past 60 days.
The Kroger Co. (KR - Free Report) operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. The company’s expected earnings growth rate for the current year is 29.1% compared with the Zacks Retail - Supermarkets industry’s estimated earnings growth of 8.2%. The Zacks Consensus Estimate for its current-year earnings has climbed nearly 15% over the past 60 days.
Lakeland Industries, Inc. (LAKE - Free Report) manufactures and sells industrial protective clothing and accessories. The company’s expected earnings growth rate for the current year is more than 100% against the Zacks Security and Safety Services industry’s estimated earnings decline of 6.7%. The Zacks Consensus Estimate for its current-year earnings has climbed more than 100% over the past 60 days.
Fortinet, Inc. (FTNT - Free Report) provides security solutions to all parts of IT infrastructure. The company has an expected earnings growth rate of 13.8% for the current year against the Zacks Security industry’s estimated decline of15.1%. The Zacks Consensus Estimate for its current-year earnings has moved 2.2% up over the past 60 days.
Smith & Wesson Brands, Inc. (SWBI - Free Report) designs, manufactures, and sells firearms. The company’s expected earnings growth rate for the current year is more than 100% against the Zacks Leisure and Recreation Products industry’s estimated earnings decline of 26.8%. The Zacks Consensus Estimate for its current-year earnings has climbed more than 100% over the past 60 days.
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 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>