Top Rocket Stocks for Earnings Week of Nov. 5
Life can be cruel and unpleasant for various stocks at different periods of their maturity. There are growing pains like missed earnings, misunderstood press releases and negative analyst views. But sometimes the stocks that are in the worst doldrums snap back the hardest and then keep going.
Each week at Stockpickr.com, we search for stocks that are in their worst throes of agony, with the thought that they can be ridden higher on a snapback. On any given day there are at least 1,000-2,000 stocks that finish the day in the green no matter how the market does. It's our job to find out which stocks are most likely to do that. We compile them in the Rocket Stocks for the Week on Stockpickr.com.
But before we look at this week's picks, let's quickly review how last week's Rocket Stock picks performed.
- Boeing (BA), which announced a $7 billion stock-buyback on Monday, ended the week 2% higher.
- ConocoPhillips (COP) ended the week down a slight 0.5%, but with oil sky-high I'd still want to own this name.
- Longtop Financial Technologies (LFT): This Chinese speculative stock has great growth but did not work out this week, ending down 9.6%.
- Merck (MRK): Trading up near its 52-week high, this stock for the most part held up well throughout the week, but ended down 2.8%.
- Celgene (CELG): Ended the week down 3.6%. However, it's still a great stock to own if things get bad.
- Lundin Mining (LMC): Up as much as 4.6% this week, but ended down 4.7%.
- Nastech Pharmaceutical (NSTK): Had horrible earnings and much lower research expenses, but it ended the week flat.
- FreightCar America (RAIL): This pick worked great! It climbed more than 10% and ended the week up 4.3%.
- U.S. Steel (X): This was a horrible pick. I thought the steelmaker was going to blow away earnings, but clearly that did not happen. The stock ended some 9% down.
- Cabot (CBT): This stock, SAC Capital's second-largest holding, was up 4% during Thursday's selloff. The stock ended the week up 1.3%.
- Yamana Gold (AUY): Moved nearly 3% higher to hit $15 before pulling back, ending the week at $14.98.
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