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Stocks Fall, Salesforce Earnings & A Strong Buy Renewable Energy Stock - Free Lunch

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On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into the market’s coronavirus-based selloff. We also take a look at quarterly earnings results from the likes of Home Depot HD and see what investors should expect from Salesforce CRM. The episode then closes with why SolarEdge Technologies SEDG is a Zacks Rank #1 (Strong Buy) stock right now.

All three major indexes fell over 1% Tuesday, as Wall Street’s selling continues on new coronavirus worries. Monday saw the Dow suffer its worse one-day decline in over two years as more cases pop up in South Korea, Italy, and Iran. Meanwhile, investors have jumped into safe havens such as 10-year U.S. Treasury notes and gold.

Last week, Apple AAPL flashed a warning sign about how the coronavirus is impacting the Chinese economy. Since then, Royal Caribbean, Procter & Gamble PG, and most recently, Mastercard MA, said they are likely to be impacted by the virus that has slowed the world’s second-largest economy.

On the earnings front, Home Depot HD stock climbed, while Shake Shack SHAK stock tumbled. Meanwhile, HP HPQ signaled that it would fight back against Xerox’s XRX hostile takeover bid.

Looking ahead, Macy’s M and Salesforce are set to report their quarterly financial results after the closing bell Tuesday. Then, Wall Street will turn its attention to Square (SQ - Free Report) , Lowe’s LOW, TJX TJX, and others on Wednesday.

The episode then closes with why SolarEdge is a Zacks Rank #1 (Strong Buy) as part of a strong solar energy industry that includes Enphase Energy (ENPH - Free Report) and SunPower (SPWR - Free Report) .

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