Why Walgreens Boots Alliance Inc (WBA), Zumiez Inc. (ZUMZ) and Goldcorp Inc. (USA) (GG) are 3 of Today’s Best Stocks

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U.S. markets took it on the chin for the third time in the opening week of 2016. Once again the indices collapsed from the opening bell as traders fretted about further devaluation of the Chinese yuan, and the price of crude oil dropped another 2%.

Why Walgreens Boots Alliance Inc (WBA), Zumiez Inc. (ZUMZ), and Goldcorp Inc. (USA) (GG) are 3 of Today's Best StocksChinese markets fell another 7% overnight, triggering its new circuit breaker system to halt trading for the second time in a week. Reuters was also saying that the Chinese Central bank was being pressured to drop the yuan quickly by another 10%-15%.

The recent volatility in stocks had traders readjusting the Fed funds futures from expecting a rate hike in March to thinking that June is now more likely.

In U.S. economic news, the Labor Department reported a decline of 10,000 unemployment claims to 277,000 this past week. That was only 2,000 more than the street was expecting. That was decent news but not enough to make a dent in the current Wall Street climate of fear.

By day’s end, the Dow Jones Industrial Average was down 2.3%, the S&P 500 was down 2.3%. The Nasdaq sustained an ugly 3% loss.

But any port in a storm.

Today’s winners included Walgreens Boots Alliance Inc (NASDAQ:WBA), Zumiez Inc. (NASDAQ:ZUMZ) and Goldcorp Inc. (USA) (NYSE:GG). Here’s why they are three of today’s best stocks:

Walgreens Boots Alliance Inc (WBA)

WBA stock was a winner today after the drug retailer reported first-quarter 2016 earnings of $1.03 a share, above the street’s estimates for 96 cents a share.

Revenue was up 48.5% to $29 billion, just slightly below the $29.24 billion analysts were expecting. WBA also raised its previous 2016 earnings forecast from $4.25 to $4.50, to $4.30 to $4.55 a share.

WBA stock peaked in August just below $96 and recently touched a low near $79. WBA rose nearly 2% today on volume of 10.1 million shares.

Zumiez Inc. (ZUMZ)

ZUMZ charged up 11% today, even after reporting a lackluster quarter for total sales, because they raised their fourth-quarter guidance from a range of 40 to 46 cents a share, to a range of 45 to 47 cents a share. The company says revenue will come in between $237 million and $239 million.

In addition, ZUMZ said the five-week holiday period ending Jan. 2 had better-than-expected sales.

But because of the positive forward guidance, the street overlooked a total quarter in which sales fell nearly 9%.

Goldcorp Inc. (USA) (GG)

GG, along with several other gold stocks, shone brightly today. The collapse of stock prices again, along with recent geopolitical turmoil, pushed spot gold prices higher, boosting the miner stocks.

Earlier this week, Goldcorp declared a monthly dividend payment of 2 cents a share for stockholders of record at the closing bell on Jan. 14, with a payout on Jan. 22.

GG stock was up nearly 8% and is up about 16% since hitting lows near $11 in the middle of December.

As of this writing, Ethan Roberts does not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/01/walgreens-boots-alliance-inc-wba-zumiez-inc-zumz-goldcorp-inc-usa-gg-3-todays-best-stocks/.

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