For Immediate Release
Chicago, IL – October 06, 2016 – 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 Chubb Limited (NYSE:(CB - Analyst Report) -Free Report), Travelers Companies, Inc. (NYSE:(TRV - Analyst Report) -Free Report), American Airlines Group Inc. (NASDAQ:(AAL - Analyst Report) -Free Report), Carnival Corporation (NYSE:(CCL - Analyst Report) -Free Report) and Walt Disney Company (NYSE:(DIS - Analyst Report) - Free Report).
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Here are highlights from Wednesday’s Analyst Blog:
Hurricane Matthew Puts These Stocks in Focus
Residents across four states on the east coast are bracing for impact as Hurricane Matthew continues to make its way toward the U.S. The storm headed toward Florida on Wednesday after causing severe devastation across Haiti and bringing heavy rainfall and strong winds to the entire Caribbean region.
According to forecasts, the category 4 hurricane will hit Florida, South and North Carolina, and Georgia sometime between Thursday evening and Friday. Not just ordinary citizens, several companies may also be affected by the event.
Property & Casualty Insurers Decline
Expected to hit landfall before Saturday morning, the storm has been described as particularly dangerous by the hurricane center. Governors across the four states have already begun evacuations, anticipating the severe destruction that it is likely to cause. Endless queues for gas, sellouts for emergency materials at stores and a massive gridlock on highways are underscoring the seriousness for which preparations are underway.
As a result, property and casualty insurance companies felt the heat on Tuesday. Chubb Limited (NYSE:(CB - Analyst Report) - Free Report) declined 1%. Chubb has a Zacks Rank #4 (Sell).
Meanwhile, Zacks Rank #3 rated The Travelers Companies, Inc. (NYSE:(TRV - Analyst Report) - Free Report) lost 0.6%. Analysts have said that it is advisable to wait until the storm passes before buying stocks from the sector. This is because such stocks often bounce back if it is learnt that the extent of damage is not as severe as anticipated.
Airlines, Cruise Lines Affected
By Tuesday, air travel between southern Florida and the Caribbean had been affected. A few airlines were suspending flights as a preemptive measure to ensure the security of their passengers. Others have made offers to passengers who are rescheduling their travel dates. These passengers will be able to do so without paying any additional charges.
The maximum number of cancellations was made by Zacks #3 American Airlines Group Inc. (NASDAQ:(AAL - Analyst Report) - Free Report). Other airlines also suspended some flights.
Additionally, the financial performance of cruise lines such as Zacks Rank #3 Carnival Corporation (NYSE:(CCL - Analyst Report) - Free Report) will also be impacted by Hurricane Matthew. Travel plans will undergo changes and cruise lines will be forced to offer discounts and refunds by way of compensation. This will hurt revenues and ultimately depress bottom lines.
Hurricane Likely to Hurt Disney
Zacks Rank #3 The Walt Disney Company’s (NYSE:(DIS - Analyst Report) - Free Report) Disney Cruise Line has also been affected by the imminent storm. However, the company’s theme park in Florida, The Walt Disney World Resort, is likely to face an even bigger threat from Hurricane Matthew. As per policies instituted nearly a decade ago, Disney will reschedule vacations without any charge and refund cancellations in case these are made within seven days of a hurricane warning in Orlando or the customer’s hometown. The same rules apply to its timeshare resorts located at Vero Beach and Hilton Head Island.
Other theme parks in the region including Universal Orlando will also be impacted by these events. Both these stocks carry a Zacks Rank #3. While Universal’s policies related to refunds are similar to Disney’s, SeaWorld’s rules regarding this issue do not specify that all the conditions that have to satisfied by a customer in order to be eligible for a free refund.
Despite the preparations made across the four states likely to be affected, Hurricane Matthew may still leave much destruction in its wake. Several companies are likely to be hurt as a result. It remains to be seen whether the impact is as much as is being feared or whether the storm rolls ahead without causing much damage.
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