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For Immediate ReleaseChicago, IL – June 29, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Domo Inc. DOMO, ViewRay
Inc. VRAY, Commercial Metals
Co. CMC, Clearwater Paper
Corp. CLW and Momenta Pharmaceuticals
Inc. MNTA.Here are highlights from Friday’s Analyst Blog: 5 Top Momentum Stocks of June Amid a COVID ResurgenceVolatility returned to U.S. stock markets in June after back-to-back spectacular performances in April and May. The United States is currently reeling under the second wave of the coronavirus as all 50 states tried to reopen economies in some form since the last week of May.Consequently, Wall Street has been facing severe fluctuations and choppy trading sessions almost regularly this month. Although, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq
Composite — are up 1.4%, 1.3% and 5.6%, so far this month, volatility remains a major concern for market participants.Despite market's roller-coaster ride, a handful of momentum stocks with a favorable Zacks Rank have provided double-digit returns so far in June. These stocks have more upside left in the near term. Resurgence of Coronavirus InfectionsOn Jun 23, three states — Florida, California and Texas — reported record-high, single-day jump in coronavirus cases of 5,508, 7,000 and 5,489, respectively. On Jun 24, more than 45,000 new cases was reported in the United States, surpassing the previous single-day high of more than 9,000 reported on Apr 26. According to data compiled by Johns Hopkins University, the 7-day average of daily new COVID-19 cases jumped more than 30% compared with a week ago in the United States.Meanwhile, the governments of New York, New Jersey and Connecticut ordered visitors from certain hotspot states to quarantine for 14 days. On Jun 25, Texas Governor Greg Abbott announced that the state will pause any further reopening thanks to a spike in COVID-19 cases.Per Bloomberg, states like Florida, Arizona and California are also considering slowing or reversing reopening plans of their economies.Silver LiningDespite the resurgence of the deadly coronavirus in various states, it is unlikely that a second round of lockdown will be imposed. Better-than-expected economic data, despite the fact that the aggregate economy is still way below its pre-lockdown level of activities, have shown fundamental stability.Impressive job additions, a jump in retail sales and a quickly recovering housing market clearly indicate that consumer spending, which constitutes nearly 68% of the U.S. economy is gaining momentum. Moreover, the sagging U.S. manufacturing sector, which generates around 12% of the GDP, is slowly returning to its own track.Moreover, the U.S. government has injected around $3 trillion in fiscal stimulus into the economy and the Federal Reserve’s balance sheet skyrocketed to $7.21 trillion as of Jun 3 as it poured money into the economy. On Jun 16, Bloomberg reported that the Trump administration is preparing a $1 trillion infrastructure project including construction of roads, bridges, 5G wireless networks and rural broadband.Additionally, the benchmark interest rate has been reduced to the range of 0-0.25% by the Fed and is likely to stay within it till 2022. All the stimulli are likely to expedite economic recovery.Our Top PicksMomentum investing calls for continued appraisal of stocks, which ensures that an investor does not pick a beaten-down name and overlook a thriving one. Momentum investors buy high on the anticipation that the stock will only ascend in the short to intermediate term.We have narrowed down our search to five momentum stocks with more than 15% return in the past month with strong growth potential and robust earnings estimate revisions. Each of our picks sports a Zacks Rank #1 (Strong Buy) and has a Momentum Score of A or B. You can see the complete list of today’s Zacks #1 Rank stocks here.Domo Inc. operates a cloud-based executive management platform in the United States that gives users direct and real-time access to business information for various industries.The company has an expected earnings growth rate of 44.9% for the current year (ending January 2021). The Zacks Consensus Estimate for current-year earnings has improved by 10% over the last 7 days. The stock price has soared 24.5% in the past month.ViewRay Inc. designs, manufactures and markets radiation therapy systems. It offers MRIdian, a magnetic resonance image-guided radiation therapy system to image and treat cancer patients.The company has an expected earnings growth rate of 43.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved by 1.5% over the last 30 days. The stock price has rallied 18.7% in the past month.Commercial Metals Co. manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication and International Mill. The company has an expected earnings growth rate of 9.1% for the current year (ending August 2020). The Zacks Consensus Estimate for current-year earnings has improved by 7.1% over the last 7 days. The stock price has jumped 17.7% in the past month.Clearwater Paper Corp. produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates through two segments, Consumer Products, and Pulp and Paperboard.The company has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the past 30 days. The stock price has climbed 17.4% in the past month.Momenta Pharmaceuticals Inc. is a biotechnology company focused on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States.The company has an expected earnings growth rate of 46.9% for the current year. The Zacks Consensus Estimate for current-year earnings has improved by 6.4% over the past 30 days. The stock price has surged 15.3% in the past month.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Media ContactZacks Investment Research800-767-3771 ext. firstname.lastname@example.org http://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Momenta Pharmaceuticals, Inc. (MNTA): Free Stock Analysis Report Clearwater Paper Corporation (CLW): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report ViewRay, Inc. (VRAY): Free Stock Analysis Report Domo, Inc. (DOMO): Free Stock Analysis Report To read this article on Zacks.com click here.Weiter zum vollständigen Artikel bei "Zacks"