Time to Bow Out of Boeing, Citigroup But Buy Verizon, Walmart

Shares of Boeing (BA) have dropped almost 17% so far in 2016 after a market-trouncing 11% return last year. Katie Stockton, chief technical strategist at BTIG, said investors in the airplane manufacturer should use any bounce to bow out of their shares. 'The breakdown occurred on the back of its earnings report,' said Stockton. 'To me that negative reaction to earnings is really a telltale and the downside follow through is not a good thing either.' Boeing topped Wall Street’s sales and profit forecasts for its fourth quarter last week. However, its forecast for 2016 core earnings of $8.15 and $8.35 per share was well below the average analyst estimate of $9.43, according to Thomson Reuters I/B/E/S. Stockton was far more bullish on Verizon’s (VZ) chart on the heels of its fourth quarter earnings beat two weeks ago.