For Immediate Release
Chicago, IL – April 1, 2020 – 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 Co-Diagnostics Inc. (CODX - Free Report) , VAXART Inc. (VXRT - Free Report) , Zoom Video Communications Inc. (ZM - Free Report) , CrowdStrike Holdings Inc. (CRWD - Free Report) and Domino's Pizza Inc (DPZ - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Top Sectors of Q1 & Their Winning Stocks
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Global markets went berserk in the first quarter, thanks to the widespread coronavirus scare. The confirmed cases crossed 800,000 worldwide. Wall Street slipped into the bear territory in mid-March. Overall, the S&P 500, the Dow Jones and the Nasdaq composite losing about 21.3%, 24.2% and 16.4%, respectively, in the quarter (as of Mar 27, 2020).
The pandemic has been causing massive global economic losses. Oil price slumped to an 18-month low on demand worries and prospects of supply growth. Central banks and governments of various countries have been putting in coordinated efforts to alleviate the impact of the disease. There have been widespread lockdowns as well.
Against such a distressing backdrop, we would likely to point out the sectors which outperformed the broader market in Q1. We have also picked two stock winners from each sector.
At the current level, the sector is striving to come upwith treatment and vaccines for the virus. Naturally, those in the testing and making of kits, drugs and vaccines to fight COVID-19 gained immensely in Q1.
Co-Diagnostics Inc.— Up 922.1%
The molecular diagnostics company completed the clinical evaluation of its Logix Smart COVID-19 PCR test that detects COVID-19 presence within two hours. The stock has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
VAXART Inc.— Up 396.4%
This Zacks Rank #2 clinical-stage company has entered into an agreement with Emergent BioSolutions to develop oral recombinant vaccines administered by tablet. Vaxart plans to initiate a Phase 1 clinical study early in the second half of 2020 (read: Coronavirus Drug Development Race to Boost These 4 Stocks).
The technology sector has been pretty much immune to the massive stock selloffs. In any case, emerging technologies are here to stay. The coronavirus outbreak has raised the need for technological advancements even more, given the widespread work-and-learn-from-home trend and Internet usage.
Zoom Video Communications Inc.— Up 122.9%
This Zacks Rank #2 company is a beneficiary of the high demand for working from home now. Zoom allows individuals to meet and work productively when meeting in-person isn't possible, helping employees to stay connected. Zoom has witnessed a massive rise in downloads since quarantines were enacted around the world.
CrowdStrike Holdings Inc.— Up 17.9%
The Zacks Rank #2 company provides cloud-delivered endpoint protection. The cybersecurity company is well-positioned for the emerging concepts of work-from-home. The company’s earnings results in March showed beats on both lines.
Online Food Retailing
Food retailing is a kind of non-cyclical sector and is likely to be less hammered by any market crash. The sector emerged as a true safe haven amid the latest crisis as even people on quarantine need daily essentials. However, this time, restaurant or grocery companies with solid online presence have won the show.Notably,ProShares Long Online/Short Stores ETF has gained 12.1% so far this year.
Domino's Pizza Inc — Up 15.3%
The Zacks Rank #3 (Hold) pizza-delivery giant has dodged the selloffs and virus fear successfully. Since "consumers are starting to shift their eating-out budgets toward delivery and carryout meals” in favor of social distancing, Domino’s Pizza has benefited a lot.
Zacks Top 10 Stocks for 2020
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