Universal Health Services & Lockheed Martin Were Among Top 11 Large Cap Stocks That Shined The Brightest Last Week (July 21-July 27): Are The Others In Your Portfolio?
Portfolio Pulse from Lekha Gupta
Eleven large-cap stocks performed exceptionally well last week, with notable gains driven by positive earnings reports, guidance increases, and other favorable news. Key performers include QXO, Inc., Avantor Inc, Universal Health Services, Inc., Manhattan Associates Inc, Molina Healthcare Inc, First Citizens BancShares, Inc., Tenet Healthcare Corporation, CBRE Group Inc, Thermo Fisher Scientific Inc, Danaher Corp, and Lockheed Martin Corporation.
July 28, 2024 | 5:28 pm
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POSITIVE IMPACT
Avantor Inc stock gained 21.62% after it was announced the stock will join the S&P MidCap 400 and reported better-than-expected Q2 earnings.
The stock's inclusion in the S&P MidCap 400 and strong Q2 earnings report are significant positive catalysts for the share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
CBRE Group Inc shares gained 12.99% after the company raised its 2024 guidance. Several analysts raised their price forecasts on the stock.
The raised 2024 guidance and positive analyst forecasts are strong positive indicators for the stock's performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Danaher Corp stock gained 11.30% after reporting better-than-expected Q2 earnings.
The better-than-expected Q2 earnings are a strong positive catalyst for the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
First Citizens BancShares, Inc. shares increased 15.15% after the company reported better-than-expected earnings.
The better-than-expected earnings report is a strong positive catalyst for the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lockheed Martin Corporation stock grew 10.72% on positive analyst ratings and strong Q2 results.
The positive analyst ratings and strong Q2 results are strong positive catalysts for the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Manhattan Associates Inc stock upped 17.02% after reporting better-than-expected Q2 financial results. Several analysts raised their price forecasts on the stock.
The strong Q2 financial results and raised price forecasts by analysts are positive indicators for the stock's performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Molina Healthcare Inc shares increased 15.53% following better-than-expected Q2 earnings.
The better-than-expected Q2 earnings are a strong positive catalyst for the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
QXO, Inc. shares escalated 33.37% after the company announced a private placement financing.
The significant share price increase is directly tied to the announcement of private placement financing, indicating strong investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tenet Healthcare Corporation stock increased 13.02% after reporting better-than-expected Q2 financial results, raising FY24 guidance, and announcing a $1.5 billion share buyback.
The combination of strong Q2 results, raised FY24 guidance, and a significant share buyback program are strong positive catalysts for the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Thermo Fisher Scientific Inc stock rose 12.63% after the company raised its annual outlook.
The raised annual outlook is a strong positive catalyst for the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Universal Health Services, Inc. stock jumped 17.73% after reporting better-than-expected Q2 earnings and increased FY 2024 guidance.
The better-than-expected Q2 earnings and increased FY 2024 guidance are strong indicators of the company's positive outlook, driving the stock price up.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100