U.S. equities moved higher on Wednesday as investors shrugged off a decision by the Federal Reserve to raise interest rates by another 0.25%. Policymakers also signaled that monetary policy has moved to a more neutral state, which was translated as meaning that perhaps the Fed could be ready to slow or pause its rate hike activity.
Stocks are also pushing higher despite harsh rhetoric from President Trump amid ongoing trade negotiations with Canada and China.
As the market continues to digest and consolidate last week’s push to new record highs by the Dow Jones Industrial Average, a number of large-cap stocks are joining the party with upside breakouts. With all of that said, here are five breakout stocks to buy:
Netflix (NFLX)
Netflix (NASDAQ:NFLX) shares are peeking their head back above the $380 threshold, returning to levels seen in early July as worries about rising content production costs and slowing user growth have now faded.
The company will next report results on Oct. 16, after the close. Analysts are looking for earnings of 68 cents per share on revenues of $4 billion. When the company last reported on July 16, earnings of 85 cents per share beat estimates by 6 cents on a 40.3% rise in revenues.
Amgen (AMGN)
Amgen (NASDAQ:AMGN) shares are pushing to new record highs, as they have moved up 5% over the past two weeks and risen nearly 30% from the lows seen in early May. The company recently announced that the Japanese Ministry of Health has granted marketing approval for Blincyto for the treatment of leukemia.
The company will next report results on Oct. 25, after the close. Analysts are looking for earnings of $3.38 per share on revenues of $5.8 billion. When the company last reported on July 26, earnings of $3.83 beat estimates by 27 cents on a 4.3% rise in revenues.
Lockheed Martin (LMT)
Lockheed Martin (NYSE:LMT) shares are pushing up and over their mid-September highs to return to levels not seen since April, capping a rise of nearly 20% from the lows seen in early July. Management recently upped both its repurchase allocation of common stock (to an additional $1 billion) and raised its quarterly dividend by 10%.
The company will next report results on Oct. 23, before the bell. Analysts are looking for earnings of $4.29 per share on revenues of $13 billion. When the company last reported on July 24, earnings of $4.31 beat estimates by 39 cents on a 6.6% rise in revenues.
Walgreens Boots Alliance (WBA)
Wallgreens Boot Alliance (NASDAQ:WBA) shares are rising back to levels not seen since early February, extending away from their 200-day moving average for a rise of nearly 10% over the past month and a rise of roughly 30% since July. Shares are shaking off some negatively from earlier in the year surrounding a push by Amazon (NASDAQ:AMZN) into the healthcare and drug space as well as a series of negative analyst coverage over the summer.
The company will next report results on Oct. 11, before the bell. Analysts are looking for earnings of $1.44 per share on revenues of $33.6 billion. When the company last reported on June 28, earnings of $1.53 per share beat estimates by 5 cents on a 14% rise in revenues.
Activision Blizzard (ATVI)
Activision Blizzard (NASDAQ:ATVI) shares are pushing up and over their July highs to hit new records following an upgrade by analysts at Argus last week and excitement over the new Battle Royale mode for its Call of Duty franchise. Video game sales seem to be accelerating, with gaming headset maker Turtle Beach (NASDAQ:HEAR) benefiting from what NPD reported as an 88% increase in headset sales and a 28% jump in console sales.
The company will next report results on Nov. 8, after the close. Analysts are looking for earnings of 44 cents per share on revenues of $1.7 billion. When the company last reported on Aug. 2, earnings of 52 cents per share beat estimates by 20 cents on a 2.3% decline in revenues.
Anthony Mirhaydari is the founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.
