After you receive this Alert we will pick up 100 more
shares of Panera Bread (PNRA:Nasdaq) at around $174.09.
We will also be adding to two of our financial positions,
buying 100 shares of Wells Fargo (WFC:NYSE) at about
$51.26 and 200 shares of Bank of America (BAC:NYSE) at
roughly $15.68. Following the trade, PNRA, WFC, and BAC
will represent roughly 2.57%, 4.55% and 3.45% of the
We are actively monitoring the market for opportunities
amidst this steep selloff, especially those that are
trading under our cost basis.
With respect to Panera, we see many profit drivers moving
forward and believe we are only able to
pick up the stock at this depressed valuation due to the
uncertainty that has characterized the markets over the
past couple of weeks.
In the same context, WFC has fallen to very attractive
levels, especially considering the fact that we last
trimmed the name at around $58 (nearly 15% higher). Both
WFC and BAC are underperforming the broader market
Jim Cramer, Portfolio Manager & Jack Mohr, Director of
Research - Action Alerts PLUS
DISCLOSURE: At the time of publication, Action Alerts
was long PNRA, WFC and BAC.
These are the names we are monitoring closely today.
It shows the company stays ahead in mobile payments.
Amid a wild up-and-down week for the market, we initiated two new portfolio positions and closed out of two others.
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