|Day Low/High||15.76 / 16.07|
|52 Wk Low/High||15.53 / 27.21|
Stocks rose for the week and June posted a better-than-expected jobs report, however, the model portfolio did not conduct any trades.
Although stocks rebounded during the week post-Brexit selling, we increased our positions in 3 of our model portfolio holdings.
Financials were among the hardest hit after the Brexit vote, prompting our model portfolio to add to our banking stocks.
Portfolio manager Barry James likes Brandywine Realty Trust, Newmont Mining, McDermott and Verizon.
With market weakness expected to continue to linger, our model portfolio considers it a potentially good time to buy.
We trimmed two positions in the model portfolio this week amid overall market strength.
With the probability of an interest rate hike at the June FOMC of just 4% and also lingering uncertainty about rising interest rates over coming weeks and months, we remain comfortable with the model portfolio.
Unlike McDermott and Diamond Offshore, competitors Noble, Transocean and Tidewater have plunged into bear market territory.
U.S. shares advanced for the week, but we did not make any trades in our model portfolio. Next week, however, a plethora of economic data will be released.
Crude plays in the Stressed Out index are getting a bump from the rise in oil prices.
Sterne Agee started coverage on McDermott Intl. (MDR) stock with a 'neutral' rating.
U.S. stocks are approaching oversold levels for the first time in over a month, leaving us comfortable with an above-average 25% cash position in our model portfolio as we search for new names to add.
U.S. stocks are approaching oversold levels for the first time in over a month, prompting our model portfolio to increase its position in Kratos Defense & Security.
More than half of the model portfolio reported earnings in a 48-hour stretch, but earnings season wraps up next week amid a quiet economic front.
Oil services provider beats top- and bottom-line expectations and raises full-year guidance.
McDermott (MDR) stock is gaining on Friday after the company reported its 2016 first quarter results which surpassed expectations.
Builders FirstSource, CalAtlantic and McDermott are scheduled to report after today's close.
Several names in the model portfolio experienced increased volatility, despite U.S. stocks posting just fractional losses this week and holding near record highs.
We will take some profits, as MDR is up 90% from where we last bought it in January.
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