For Immediate Release
Chicago, IL – June 17, 2019 – 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: JinkoSolar Holding Company Ltd. (JKS - Free Report) , Salem Media Group Inc. (SALM - Free Report) , Ciena Corp. (CIEN - Free Report) , DexCom Inc. (DXCM - Free Report) and Zumiez Inc. (ZUMZ - Free Report) .
Here are highlights from Friday’s Analyst Blog:
5 Top-Ranked Stocks Crushing the Market in June
Although worsening U.S.-China trade dispute and global growth worries are shaking the stock market now and then, Wall Street has staged a nice comeback from the May swoon on hopes of monetary easing policies.
Fed Chair Powell initially suspended the three-year monetary policy tightening program this year and has now signaled rate cuts if needed. The Fed is closely monitoring the implications of trade tensions on the economy and would act as appropriate to sustain the expansion, given a strong labor market and inflation near 2% target.
The latest weak job data and subdued inflation stirred speculation on interest rate cuts. Lower interest rates will keep borrowing cost down, thereby resulting in higher consumer spending and rise in economic activities. Further, the possibility of rate cuts has put pressure on the U.S. dollar, making the dollar-denominated products cheaper for foreign buyers and thus raising demand for American products.
Additionally, recovery in U.S. housing market, Trump’s suspension of the planned tariffs against Mexico and wave of mergers and acquisitions added to the strength. Further, the American economy is on a slower growth path buoyed by strong job growth, rising consumer confidence, and higher consumer spending.
While there are winners from various corners of the space, some stocks have been crushing the brood market and have a solid Zacks ETF Rank #1 (Strong Buy) or 2 (Buy). Below we have presented a bunch of those that are easily leading the way higher this month and will continue to outperform for the rest of the month given their superior fundamentals. You can see the complete list of today’s Zacks #1 Rank stocks here.
JinkoSolar Holding Company Ltd. – Up 22.9%
The company is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. The stock saw positive earnings estimate revision of a penny for this year in a month and has an estimated earnings growth rate of 81.7%, higher than the industry’s average growth of 79.2%. The stock has a market cap of $685.3 million and carries a Zacks Rank #1. It flaunts a solid VGM Score of B.
Salem Media Group Inc. – Up 22.7%
It is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. The stock saw no earnings estimate revision for this year over month with an expected earnings growth rate of 216.7%, compared with the industry’s average earnings decline of 7.3%. SALM has a market cap of $61.8 million and carries a Zacks Rank #1. Its VGM Score stands at B.
Ciena Corp. – Up 21.6%
This is a network specialist, focused on expanding the possibilities for its customers' networks while reducing their cost of ownership. The stock saw solid earnings estimate revision of 18 cents for the year (ending October 2019) over the past month and has an expected growth rate of 43.2% — higher than the industry’s average growth of 40.3%. It has a Zacks Rank #1 and VGM Score of A. Ciena Corporation has a market cap of $6.7 billion.
DexCom Inc. – Up 20.6%
This company is developing continuous glucose monitoring systems for people with diabetes. With a market cap of $13.2 billion, the stock witnessed no earnings estimate revision for this year in the past month. It has an estimated earnings growth of 166.7%, higher than the industry’s average growth of 13%. The stock has a Zacks Rank #2 and VGM Score of B.
Zumiez Inc. – Up 17%
With a market cap of $583.3 million, Zumiez is a leading specialty retailer of apparel, footwear, accessories and hardgoods for young men and women who want to express their individuality through the fashion, music, art and culture of action sports, streetwear, and other unique lifestyles. The stock saw positive earnings estimate revision of 4 cents for the year (ending January 2020) over the past month with an expected earnings growth rate of 5.6% versus 1.3% industry’s decline in earnings It has a Zacks Rank #2 and VGM Score of A.
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