Top 3 Consumer Stocks That Could Blast Off In June
Portfolio Pulse from Avi Kapoor
The article highlights three oversold consumer discretionary stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are Toyota Motor Corp (NYSE:TM), Bloomin’ Brands Inc (NASDAQ:BLMN), and Five Below Inc (NASDAQ:FIVE).
June 14, 2024 | 12:41 pm
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NEGATIVE IMPACT
Bloomin’ Brands reported first-quarter adjusted earnings per share of 70 cents, missing the analyst consensus of 74 cents. The stock has fallen around 20% over the past month.
Bloomin’ Brands' earnings miss and the completion of restaurant closures under the 2023 Closure Initiative have negatively impacted the stock, which has fallen 20% over the past month. This trend is likely to continue in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Five Below reported worse-than-expected first-quarter earnings and lowered its guidance. The stock has fallen around 20% over the past month.
Five Below's worse-than-expected earnings and lowered guidance have led to a 20% decline in the stock over the past month. The negative earnings report and guidance adjustment are likely to continue to pressure the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Toyota Motor Corp is recalling over 100,000 vehicles in the U.S. due to engine debris concerns, causing a potential stall and loss of driving power. The stock has fallen around 8% over the past month.
The recall of over 100,000 vehicles due to engine debris concerns is a significant issue that could negatively impact Toyota's stock in the short term. The stock has already fallen 8% over the past month, and the recall news could further pressure the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100