Juanmonino/iStock Unreleased via Getty Images In our last update for Hormel Foods Corporation (NYSE:HRL), we suggested that the bears were pushing deep into oversold territory and risks for a countertrend move were high. We expected a bounce, one that should reset sentiment and prepare the stock for the next big move lower. Specifically, we said:…
Local Man Buys SPAM To Boost Hormel Stock Price PA Images/PA Images via Getty Images It has been a tough year for Hormel Foods Corporation (NYSE:HRL) investors. The stock has chronically disappointed and has underperformed the broader market, i.e., S&P 500 (SPY) and the Consumer Staples Select Sector SPDR (XLP), by a huge margin. Data…
Maddie Meyer Along with the overall stock market, Moderna (NASDAQ:MRNA) had a big liftoff towards the end of 2023. The biotech company promoted a 2025 turnaround story, but the market jumped onto the more bullish view far too soon. My investment thesis remains Bearish on Moderna with more Covid vaccine sales pain ahead and questions…
titoOnz/iStock via Getty Images As the shipping channel in the Red Sea has the been upset by Houthi militants, shipping stocks like ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have soared. The stocks were crushed in 2023 due to weak container shipping demand and high new vessel supply hitting the market. My investment thesis is now…
adventtr/iStock via Getty Images Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your…
Hazal Ak/iStock via Getty Images McCormick & Company (NYSE:MKC) is scheduled to report its third fiscal quarter earnings in the pre-market session on Tuesday. Here’s what investors need to know. McCormick Stock Key Metrics Through the first half of fiscal 2023, MKC has grown sales by 5.4% to +$3.2B, driven primarily by pricing actions taken…
Doucefleur The RIVN Investment Thesis Remains Viable, But With Some Patience We previously covered Rivian Automotive (NASDAQ:RIVN) in July 2023, discussing its surprising FQ2’23 production and delivery report, well exceeding its FQ1’23 numbers. Despite our previous scepticism, it appeared that we had been proven wrong then. For now, thanks to the delivery beats, RIVN has…
sefa ozel It’s been clear for some time that US recession risk has been sliding in recent months, but this week’s updates of a widely followed GDP nowcast published by the Atlanta Fed has been revised up – a lot – for the third quarter. According to this model, the US economy isn’t just rolling…
Gerardo Huitrón The Mexico Fund (NYSE:MXF) may have risen slightly since I last covered the fund, but if the Bank of Mexico’s (‘Banxico’) extended pause is anything to go by (in stark contrast with other Latin American countries like Brazil), Mexican equities could lag in the near-term. With the labor market also still running strongly…