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The Dow Jones reached a historic level, as markets once again surged. The Dow advanced 476 points, or 1.6% and broke past 30,000 points for the first time ever. The S&P 500 also approached an all-time high and gained 1.5%, while the Nasdaq NDAQ advanced 1%, and the small-cap Russell 2000 once again hit an all-time high. Chevron CVX , JPMorgan Chase and Boeing BA led the way for the Dow, rising more than 3% each.
The Dow is now up more than 13% for the month- on pace for the index’s biggest monthly gain since 1987. The S&P 500 and Nasdaq are also up 11.2% and 10.1%, respectively, in November. This rally has been driven by vaccine optimism causing investors to increase their exposure to undervalued stocks that would benefit from a COVID-recovery. Chevron, JP Morgan JPM , and Boeing all led the Dow higher today rising over 3% each. Additionally, investors cheered the renewed political clarity after General Services Administration chief Emily Murphy told President-elect Joe Biden that the Trump administration is ready to begin the presidential transition. President-elect Biden’s choice for Treasury Secretary, former Federal Reserve Chair Janet Yellen, also excited investors. As Fed Chair, Yellen was seen as very market-friendly, and oversaw a long economic expansion with historically low-interest rates. This buoys hope for further fiscal stimulus. The deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays.
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Cerence Inc (CRNC)
Software company Cerence is our first Top Short for today. Cerence is one of the pioneers in AI and voice control for cars, and is considered to be the global industry leader in creating unique, moving experiences for the automotive world. Our AI systems rated Cerence A in Technicals, D in Growth, F in Low Volatility Momentum, and D in Quality Value. The stock closed down 1.19% to $83.07 on volume of 761,766 vs its 10-day price average of $71.56 and its 22-day price average of $65.78, and is up 265.95% for the year Revenue was $329.65M in the last fiscal year compared to $276.98M three years ago, Operating Income was $37.57M in the last fiscal year compared to $53.8M three years ago, EPS was $(0.57) in the last fiscal year compared to $0.16 three years ago, and ROE was (2.04%) in the last year, compared to 0.59% three years ago. The stock is also trading with a Forward 12M P/E of 42.14.
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Las Vegas Sands Corp (LVS)
Las Vegas Sands Corp LVS is our next Top Short of the day. Best known for its numerous properties in Macau and The Venetian and The Palazzo in Las Vegas, Las Vegas Sands Corp is the largest casino company in the world. Our AI systems rated the company C in Technicals, F in Growth, D in Low Volatility Momentum, and F in Quality Value. The stock closed up 1.41% to $56.69 on volume of 5,985,833 vs its 10-day price average of $57.37 and its 22-day price average of $53.46, and is down 18.38% for the year. Revenue was $13739.0M in the last fiscal year compared to $12728.0M three years ago, Operating Income was $3788.0M in the last fiscal year compared to $3484.0M three years ago, EPS was $3.5 in the last fiscal year compared to $3.55 three years ago, and ROE was 49.86% in the last year compared to 43.15% three years ago. Forward 12M Revenue is expected to grow by 132.83% over the next 12 months, and the stock is trading with a Forward 12M P/E of 86.87.
Marriott Intl Inc (MAR)
Marriott is our next Top Short today. Despite being severely harmed by the COVID pandemic, Marriott still remains the largest hotel chain in the world by number of available rooms. It has 30 brands with 7,484 properties in 131 countries and territories around the world. Our AI systems rated Marriott C in Technicals, F in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 3.19% to $123.09 on volume of 2,180,431 vs its 10-day price average of $120.06 and its 22-day price average of $108.1, and is down 18.75% for the year. Revenue was $5373.0M in the last fiscal year compared to $4997.0M three years ago, Operating Income was $2070.0M in the last fiscal year compared to $2663.0M three years ago, EPS was $3.8 in the last fiscal year compared to $3.84 three years ago, and ROE was 86.95% in the last year compared to 32.64% three years ago. Forward 12M Revenue is expected to grow by 17.0% over the next 12 months, and the stock is trading with a Forward 12M P/E of 79.5.
TPI Composites Inc (TPIC)
TPI Composites is our fourth Top Short of the day. TPI is a manufacturing company and a worldwide leader in producing wind blades. Our AI systems rated the company F in Technicals, B in Growth, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 3.07% to $39.99 on volume of 836,552 vs its 10-day price average of $39.71 and its 22-day price average of $37.07, and is up 116.63% for the year. Revenue grew by 13.24% in the last fiscal year and grew by 70.3% over the last three fiscal years, Revenue was $1436.5M in the last fiscal year compared to $955.2M three years ago, Operating Income was $37.93M in the last fiscal year compared to $70.1M three years ago, EPS was $(0.45) in the last fiscal year compared to $1.11 three years ago, and ROE was (7.37%) in the last year compared to 23.69% three years ago. Forward 12M Revenue is expected to grow by 5.01% over the next 12 months, and the stock is trading with a Forward 12M P/E of 29.88.
Western Digital Corp (WDC)
Computing company Western Digital WDC is our final Top Short of the day. The company has fallen on some hard times as of late despite being a longtime staple in computing storage. Western Digital is best known for designing, manufacturing, and selling data technology products such as storage devices, data center systems, and cloud storage services. Out AI systems rated the company C in Technicals, D in Growth, F in Low Volatility Momentum, and D in Quality Value. The stock closed up 4.86% to $44.48 on volume of 5,785,688 vs its 10-day price average of $42.09 and its 22-day price average of $40.48, and is down 31.34% for the year. Operating Income grew by 31.52% in the last fiscal year, while EPS grew by -86.37% in the last fiscal year. Revenue was $16736.0M in the last fiscal year compared to $20647.0M three years ago, Operating Income was $368.0M in the last fiscal year compared to $3830.0M three years ago, EPS was $(0.84) in the last fiscal year compared to $2.2 three years ago, and ROE was (2.56%) in the last year compared to 5.88% three years ago. Forward 12M Revenue is expected to grow by 3.1% over the next 12 months, and the stock is trading with a Forward 12M P/E of 12.91.
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Source: Forbes – Money
