Coronavirus has weighed on corporate earnings and disrupted supply chains, with no immediate respite in sight. Thus, investors expect global businesses to witness longer and steeper downturn.
Meanwhile, companies across the globe are asking employees to work from home amid concerns of spreading the virus. In wake of the present scenario, it’s advisable to keep an eye on "stay-at-home" stocks that are well poised to gain and are immune to the virus’ impact.
Outbreak Takes the Shape of a Pandemic
Considering the rapid spread across the globe, the virus eruption has now been classified as a pandemic by the World Health Organization.
Per compiled data of Johns Hopkins University, since the virus was first detected in China late last year, the total number of infected people across the world has increased to 127,800, as of Mar 12. The virus has already spread across 116 countries, killing more than 4,700 people, the compiled data suggests. On the bright side, the data shows recovery of 68,000 infected people.
Stocks That Will Defy the Crisis
To combat the outbreak, governments are imposing travel bans on more countries. Moreover, people are being increasingly advised to avoid mass gathering. This has brightened up prospects of companies that are helping people to stay connected. In other words, the businesses of such companies prosper if people spend more time at home.
We are presenting one stock with a Zacks Rank #2 (Buy) and three with a Zacks Rank 3 (Hold) that are well positioned to gain. You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Headquartered in Los Gatos, CA,
Netflix Inc. ( NFLX - Free Report) is a leading provider of streaming services. With more people staying at home and cancelling travel plans, streaming could be their in-house entertainment. Thus, the #2 Ranked stock is expected to witness an expansion in its subscriber base. We expect the company to see earnings growth of 48.4% in 2020. VIDEO Twitter Inc. ( TWTR - Free Report) , headquartered in San Francisco, CA, is poised to do well as it helps people access news online at real time. This will help people to stay updated on the latest news on the virus as well. The stock, with Zacks Rank #3, has witnessed positive earnings estimate revisions for 2020 in the past 30 days. Facebook Inc ( FB - Free Report) , headquartered in Menlo Park, CA, will help people stay connected virtually. It is to be noted that the #3 Ranked stock is likely to see earnings growth of almost 45% in 2020. DocuSign Inc. ( DOCU - Free Report) , headquartered in San Francisco, CA, is a popular name for authenticating documents over the Internet through electronic signature. The stock, with Zacks Rank of 3, is likely to see earnings growth of almost 70% in fiscal 2021. Zacks Top 10 Stocks for 2020
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