We discussed in this space this morning whether Hump Day would demonstrate a reversal of fortunes in market indexes, following record-high closes on the Dow and S&P 500 to finish last week. There have been no major economic prints to absorb; everything has been resting on Q1 earnings results, which have been good — though not as impressive as the big Wall Street banks last week. The Dow and S&P were +0.94% and +0.93%, respectively; the Nasdaq gained 1.19% and the Russell 2000 busted out +2.53% on the day. Materials, Energy and Financials led the way by sector in Wednesday trading, +1.87%, +1.48% and +1.40%, respectively. This was most impressive on the Energy side, which was set back by a 2.6% drop in West Texas Intermediate (WTI) spot crude oil prices. But no major economic segments suffered so much as a 1% loss on the day; this was a nice bounce-back from the doldrums of the early part of the week. Household appliance major Whirlpool (posted a huge earnings beat on its Q1 earnings report after the closing bell: $7.20 per share was way ahead of the $5.38 Zacks consensus, and represents a 255% gain over the $2.82 per share posted in the year-ago quarter. Revenues were similarly impressive in the quarter: $5.36 billion versus $4.87 billion expected. Higher margins met stronger demand for a truly stellar quarter for the Zacks Rank #2 (Buy) stock. WHR Quick Quote WHR - Free Report) With big upswings in both Housing and Manufacturing, Whirlpool seems to have been exactly in the sweet spot. Best of all, the company does not expect this to be a fleeting fancy; Whirlpool has also lifted its full-year earnings guidance to a range between $22.50-23.50 per share. The Zacks consensus had been $21.25 per share. The stock gained 6.5% immediately on the earnings release, but have cooled off since. Whirlpool shares are up 32.7% year to date. Chipotle ( earnings results are also in, with a nice beat on the bottom line: $5.36 per share versus $4.92 expected, and up impressively from the $3.08 per share a year ago. But sales in the quarter were a tad below expectations: $1.74 billion versus $1.75 billion analysts were looking for. Same-store sales grew 17.2%, with an impressive 134% upswing in Digital Sales, which now make up 50% of total Chipotle purchases. CMG Quick Quote CMG - Free Report) Q2 comp sales are now expected in a range of 20s-30%. The company has seen benefits from new menu items and higher prices. Shares rose in late trading around 0.5% on the news, up 14% year to date and +71% from a year ago. Chipotle has now topped earnings estimates in 13 of the past 15 quarters, with two of those misses in the trailing past four quarters. Questions or comments about this article and/or its author? Click here>> Zacks Top 10 Stocks for 2021 In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021? Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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