This week, the world will be closely keeping an eye on the rapidly intensifying Hurricane Ida—in particular those in the oil and gas industry, due its potential impact on the energy sector.
Other events on the calendar include reports on pending home sales, consumer confidence, and construction spending. Lululemon and DocuSign will also reveal anticipated earnings results this week.
From travel, to swimming pools, to medical technology, here are your latest stock picks.
Airbnb’s (ticker: ABNB) plans to go public were thwarted by the pandemic when sales fell to 72% from the same period a year ago, but when the company went public in December last year, it was the year’s biggest IPO.
Shares of the company tripled on the day of the company’s debut, and last week the stock saw a 6% dip, however they jumped 10% on Tuesday to a three-month high and have been riding ever since.
Wholesale swimming pool supplier Pool Corporation (ticker: POOL), saw its earnings skyrocket 44% during the pandemic. With the stay-at-home surge, the company tripled in the swimming pool pandemic boom.
With 60% of its revenue coming from maintenance like chlorine and pumps, analysts expect Pool’s earnings continue to soar 65% this year, according to MarketSmith.
It’s not just swimming pool manufacturers who benefitted from the pandemic. The medical industry also took off during a time where health was paramount. Dexcom (ticker: DXCM), a company who makes glucose monitoring systems for patients with diabetes, saw a growth in sales of 23% and 49% in the last two years.
The company is launching its newest device called G7 later this year, which is 60% smaller than its previous model and the smallest device on the market. Analysts expect the stock to dip 20% in 2021 before rebounding 40% in 2022.
Speaking of industries which profited from the pandemic, the lumber industry soared 300% during Covid, thanks to a boom in homebuilding. Homebuilder giant Lennar (ticker: LEN) has been directly profiting from this boom, recently reporting its Q2 sales had catapulted 22% to $6.4 billion.
“Our second quarter homebuilding gross margin of 26.1% was the highest second quarter percentage in the company’s history, and a 450 basis point improvement over the prior year,” Lennar’s Co-CEO Rick Beckwitt said in a statement.
Disclaimer: Market Buzz contributor Shelley Mason has no position in any of the stocks mentioned.
This does not constitute investment advice and is for entertainment purposes only.