Tech Earnings, Elections and Covid Oh My! - InvestingChannel

Tech Earnings, Elections and Covid Oh My!

TOP STOCKS – BY Retail (Total Traffic) This WeekTickerTOP STOCKS- BY RETAIL (Surge Traffic) This WeekTickerTOP ETFs By Retail (Total Traffic) This Week
Apple IncAAPLRide IncRIDEBeverages – Brewers
Eversource EnergyESScholar Rock Holding CorpSRRKSpecialty Business Services
Nio IncNIOBlackrock Muni 2020 TrustBKKFootwear & Accessories
Tesla IncTSLAApplied Uv IncAUVIBusiness Equipment & Supplies IncAMZNBrainybrawn, Inc.BRNWFood Distribution
Adv Micro DevicesAMDSAP AgSAPHome Improvement Retail
Microsoft CorpMSFTRivernorth/Doubleline Strategic Opportunity FundOPPEducation & Training Services
Pinterest IncPINSMid-Con Energy PartnMCEPBeverages – Non-Alcoholic
Workhorse GrpWKHSDunkin’ Brands GroupDNKNConsumer Electronics
Visa IncVCommunity Health SystemsCYHHealth Information Services
Facebook IncFBDocument Security Systems IncDSSPay TV
Sorrento TherptSRNEMiragen Therapeutics IncMGENSteel
Intel CorpINTCSystemax IncSYXAdvertising Agencies
Snap IncSNAPCiveo CorpCVEOChemicals
MicrovisionMVISHarley-Davidson IncHOGFarm Products
Spartan Energy Acquisition Corp Cl ASPAQSynalloy CpSYNLSurgical appliances and supplies
Zoom Video Communications Cl AZMHoliday Island Holdings, Inc.HIHINational commercial banks
Draftkings IncDKNGCallaway Golf CompanyELYApparel Retail
Fastly IncFSLYSanchez Midstream Partners LPSNMPSemiconductors
Scholar Rock Holding CorpSRRKLiquid Media Group LtdYVRFederal and federally sponsored credit

Happy Friday all! I think all of us will welcome a two-day breather following a busy week. Financial Advisors have been slammed with an endless parade of earnings, election projections, Covid case numbers and economic headlines. Adding to the tension, this has been the worst weekly market performance since mid-March. It does not get any easier next week with a contentious election on tap. Rather than get caught up in the mudslinging and the headlines, let’s take a look at what your clients have been researching as we prepare to turn the calendar to November (and get closer to turning the page on 2020!).

Not surprisingly, the primary focus for the retail investor was the big tech space. Apple (#1), Amazon (#5), Advanced Micro (#6), Microsoft (#7), Pinterest (#8), Facebook (#11), Intel (#13), and Snap (#14) provided a tech heavy flavor to the total search category. Rather than inundate you with another round of commentary on these names, we wanted to focus on an under the radar play.

Harley Davidson (HOG) landed on the Surge category at #15. This is a name in a steady downward trend since May of 2014. Weakness stems from the idea that millennial consumers would fail to find an attraction to the iconic brand. This fear was substantiated by a steady decline in overall earnings and delivery performance. However, HOG was able to provide a pleasant third quarter surprise with a 77-cent bottom line beat while outpacing expectations on the top line and deliveries. The upside surprise comes as the company embarks on its new strategy called ‘The Rewire’. Following results, shares of HOG surged to test its six-year downward trend line. Shares were rejected at this resistance level and are coming back in to test key support at $30-32. Morgan Stanley downgraded the stock after results, citing an over exuberance by investors around the new company direction. The future of HOG remains in question, but it is finding interest in research results and we would put HOG on your radar.

Other names of interest:

RIDE (#1 surge)- Lordstown Motors is the latest SPAC EV play, formerly owned by General Motors.

Scholar Rock Holding (#2 surge)- Clinical-stage biopharma name that provided positive Phase 2 trial results on its Spinal Muscular Atrophy drug and did a secondary offering this week.

SAP- (#6 surge)- Disappointing Q3 results Monday morning helped set the negative tone for markets.

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