On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney recaps the morning’s top stock market news, including headlines from the likes of Ford, Nike, and Conn’s. Later, he analyzes Tesla stock as the electric car company looks to move past recent reports that it was considering going private.
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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
Wall Street returned to action on Tuesday as investors opened September trading on a tepid note. September is historically one of the market’s worst months, with stocks seeing even more volatility in midterm election years.
This month, investors have more trade talks, new tariffs, and another Fed meeting to look forward to. But some on Wall Street are also hoping that the focus will shift back to the overall state of the economy.
We got a new read on some key economic activity today with many auto manufacturers reporting their August sales results. For example, Ford (
F - Free Report) said its August sales ticked higher compared to last year, with the major domestic auto company also adding evidence to a continued trend toward SUVs.
Elsewhere, we had Nike (
NKE - Free Report) and Conn’s ( CONN - Free Report) making headlines Tuesday as investors reacted to new advertising campaigns and earnings results.
Nike over the holiday revealed that former NFL quarterback Colin Kaepernick would be one of the faces of its new #JustDoIt campaign. Kaepernick, who in 2016 decided not to stand for the national anthem to protest racial injustice, is a controversial figure among football fans, and Nike’s announcement was a surprise to many.
Meanwhile, furniture and mattress retailer Conn’s reported better-than-expected earnings results and its first quarter of same-store sales growth in three years.
Ryan discusses these news stories, providing investors with the key facts they need to know and giving his unique perspective on the headlines—all on the first half of today’s show.
Later, the host digs into Goldman’s latest analyst note on Tesla (
TSLA - Free Report) , which reinstated coverage on the stock with a sell rating and a $210 price target. This comes just three weeks after Goldman had to stop rating Tesla due to its role as a financial adviser in its proposed go-private deal.
Goldman warned of long-term concerns related to profitability and renewed spending initiatives as reasons to be cautious.
But does the Zacks Rank seem to agree with these concerns? Ryan digs into the electric car company’s latest earnings estimates and revision trends to find out. Make sure to check out the show to hear more!
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