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The Zacks Analyst Blog Highlights Bouygues, MercadoLibre and Cadence Design Systems
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For Immediate Release
Chicago, IL – February 22, 2023 – 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: Bouygues (BOUYF - Free Report) , MercadoLibre (MELI - Free Report) and Cadence Design Systems (CDNS - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
A Year of Russia's War on Ukraine: Global Week Ahead
This Global Week Ahead marks a year since Russia invaded Ukraine.
The war goes on.
But the world, and the markets, are in a very different place from last February.
Here are Reuters' five world market themes, reordered for equity traders:
(1) Tail End of Q4 Earnings Season
Fourth-quarter earnings season is nearly over and it has been tepid so far.
The days ahead will bring a look at how the U.S. consumer has held up as some heavy-hitter retailers report results.
Walmart, the world's largest retailer by sales, and home improvement giant Home Depot reported Tuesday, while discount store operator TJX Companies reports on Wednesday.
Lowe's and Best Buy will deliver results the following week.
Beyond the retail sector, semiconductor maker Nvidia and pharma company Moderna also announce earnings.
Fourth-quarter earnings are expected to have dropped -2.8% from the year-ago period, Refinitiv IBES data as of Feb 10th shows.
(2) Inflation Indicators from Europe
European stocks have risen in line with a recovery in business sentiment and activity that signals the region may escape recession. But markets are treading a fine line.
Any upswing in the new orders component of the upcoming purchasing managers indexes — the keenly watched surveys of business activity — could be bullish.
But if rosier commercial conditions bring with them rising price pressures, this may strengthen the European Central Bank's resolve to keep raising interest rates given stubbornly high inflation.
Yields on Germany's two-year bonds, which reflect interest-rate expectations, have hit their highest since 2008 this month.
At the same time, equities are plugged into a view that higher borrowing costs will not derail companies' earnings prospects. These outlooks are not coherent. It will be difficult for both asset classes to be right.
(3) India Hosts First G20 Finance and Central Bank Summit of 2023
Difficult international discussions over debt forgiveness for poor nations are going to get even trickier, when India hosts from Feb. 22-25 the first G20 finance and central bank chiefs meeting for the year.
The world's largest bilateral creditor China is under fire for playing tough on its terms.
At the top of the agenda, besides cryptocurrency regulation, is the G20 Common Framework debt pact to allow the restructuring of low-income countries' debts after the pandemic.
India supports a push by the IMF, the World Bank and the United States for the Common Framework to include middle-income countries, though China has resisted.
Progress is slow and while Chad, Ethiopia, Ghana and Zambia have all sought help, so far only Chad has reached a deal.
(4) When Does the New Bank of Japan (BoJ) Chief Show Up for Work?
Although incoming Bank of Japan governor Kazuo Ueda is a dove, investors expect his tenure to end to yield curve controls.
The $8-trillion question for the JGB market, though, is when?
On the same day as the Ukraine anniversary — Feb. 24 — Ueda should offer clues on timing when he testifies with his two would-be deputies to the lower house. His Upper house testimony will be on the following Monday.
The consensus is Ueda will not rush to make changes, but with the costs of maintaining YCC climbing, and market distortions ever more pronounced, time is against him.
Elsewhere, the Reserve Bank of New Zealand sets policy on Wednesday and the Bank of Korea on Thursday.
Both are seen taking dovish turns, with consumer prices starting to cool, and South Korea at risk of its first recession since the 2020 onset of the pandemic.
(5) Munich Security Conference Discusses Year of War on Ukraine
Senior politicians and military leaders from around the globe met in Germany last weekend, days before the anniversary on Feb. 24th of Russia's invasion of Ukraine, Europe's biggest conflict since World War Two.
The war is estimated to have cost thousands of lives and displaced millions. Sweeping sanctions have severed Russia from the fabric of global financial markets, reshaped commodity and energy flows, and pushed up inflation and funding pressures globally.
Moscow is ramping up its spring offensive, while Ukraine — armed with heavier and longer-range firepower from the West — gathers strength for a counter push.
To debate the West's further response, German Chancellor Olaf Scholz, French President Emmanuel Macron and U.S. Vice President Kamala Harris were among many top officials attending the Munich Security Conference.
Top Zacks #1 Rank (STRONG BUY) Stocks
I found top large-cap stocks from three different global regions this week.
(1) Bouygues:This is a $31 a share French Industrial Services company, with a market cap of $58.7B. I see a Zacks Value score of C, a Zacks Growth score of F and a Zacks Momentum score of B.
(2) MercadoLibre:This is a $1,120 (you read that right!) a share Internet Commerce company in Latin America, with a market cap of $56.3B. I see a Zacks Value score of F, a Zacks Growth score of A and a Zacks Momentum score of D.
(3) Cadence Design Systems: This is a $194 a share U.S.-based Computer-Software chip-related company, with a market cap of $53.1B. I see a Zacks Value score of F, a Zacks Growth score of B and a Zacks Momentum score of A.
Stocks with Zacks Growth scores of A or B interest me.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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 Bouygues, MercadoLibre and Cadence Design Systems
For Immediate Release
Chicago, IL – February 22, 2023 – 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: Bouygues (BOUYF - Free Report) , MercadoLibre (MELI - Free Report) and Cadence Design Systems (CDNS - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
A Year of Russia's War on Ukraine: Global Week Ahead
This Global Week Ahead marks a year since Russia invaded Ukraine.
The war goes on.
But the world, and the markets, are in a very different place from last February.
Here are Reuters' five world market themes, reordered for equity traders:
(1) Tail End of Q4 Earnings Season
Fourth-quarter earnings season is nearly over and it has been tepid so far.
The days ahead will bring a look at how the U.S. consumer has held up as some heavy-hitter retailers report results.
Walmart, the world's largest retailer by sales, and home improvement giant Home Depot reported Tuesday, while discount store operator TJX Companies reports on Wednesday.
Lowe's and Best Buy will deliver results the following week.
Beyond the retail sector, semiconductor maker Nvidia and pharma company Moderna also announce earnings.
Fourth-quarter earnings are expected to have dropped -2.8% from the year-ago period, Refinitiv IBES data as of Feb 10th shows.
(2) Inflation Indicators from Europe
European stocks have risen in line with a recovery in business sentiment and activity that signals the region may escape recession. But markets are treading a fine line.
Any upswing in the new orders component of the upcoming purchasing managers indexes — the keenly watched surveys of business activity — could be bullish.
But if rosier commercial conditions bring with them rising price pressures, this may strengthen the European Central Bank's resolve to keep raising interest rates given stubbornly high inflation.
Yields on Germany's two-year bonds, which reflect interest-rate expectations, have hit their highest since 2008 this month.
At the same time, equities are plugged into a view that higher borrowing costs will not derail companies' earnings prospects. These outlooks are not coherent. It will be difficult for both asset classes to be right.
(3) India Hosts First G20 Finance and Central Bank Summit of 2023
Difficult international discussions over debt forgiveness for poor nations are going to get even trickier, when India hosts from Feb. 22-25 the first G20 finance and central bank chiefs meeting for the year.
The world's largest bilateral creditor China is under fire for playing tough on its terms.
At the top of the agenda, besides cryptocurrency regulation, is the G20 Common Framework debt pact to allow the restructuring of low-income countries' debts after the pandemic.
India supports a push by the IMF, the World Bank and the United States for the Common Framework to include middle-income countries, though China has resisted.
Progress is slow and while Chad, Ethiopia, Ghana and Zambia have all sought help, so far only Chad has reached a deal.
(4) When Does the New Bank of Japan (BoJ) Chief Show Up for Work?
Although incoming Bank of Japan governor Kazuo Ueda is a dove, investors expect his tenure to end to yield curve controls.
The $8-trillion question for the JGB market, though, is when?
On the same day as the Ukraine anniversary — Feb. 24 — Ueda should offer clues on timing when he testifies with his two would-be deputies to the lower house. His Upper house testimony will be on the following Monday.
The consensus is Ueda will not rush to make changes, but with the costs of maintaining YCC climbing, and market distortions ever more pronounced, time is against him.
Elsewhere, the Reserve Bank of New Zealand sets policy on Wednesday and the Bank of Korea on Thursday.
Both are seen taking dovish turns, with consumer prices starting to cool, and South Korea at risk of its first recession since the 2020 onset of the pandemic.
(5) Munich Security Conference Discusses Year of War on Ukraine
Senior politicians and military leaders from around the globe met in Germany last weekend, days before the anniversary on Feb. 24th of Russia's invasion of Ukraine, Europe's biggest conflict since World War Two.
The war is estimated to have cost thousands of lives and displaced millions. Sweeping sanctions have severed Russia from the fabric of global financial markets, reshaped commodity and energy flows, and pushed up inflation and funding pressures globally.
Moscow is ramping up its spring offensive, while Ukraine — armed with heavier and longer-range firepower from the West — gathers strength for a counter push.
To debate the West's further response, German Chancellor Olaf Scholz, French President Emmanuel Macron and U.S. Vice President Kamala Harris were among many top officials attending the Munich Security Conference.
Top Zacks #1 Rank (STRONG BUY) Stocks
I found top large-cap stocks from three different global regions this week.
(1) Bouygues:This is a $31 a share French Industrial Services company, with a market cap of $58.7B. I see a Zacks Value score of C, a Zacks Growth score of F and a Zacks Momentum score of B.
(2) MercadoLibre:This is a $1,120 (you read that right!) a share Internet Commerce company in Latin America, with a market cap of $56.3B. I see a Zacks Value score of F, a Zacks Growth score of A and a Zacks Momentum score of D.
(3) Cadence Design Systems: This is a $194 a share U.S.-based Computer-Software chip-related company, with a market cap of $53.1B. I see a Zacks Value score of F, a Zacks Growth score of B and a Zacks Momentum score of A.
Stocks with Zacks Growth scores of A or B interest me.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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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.