5 Large-Cap Stocks Blitzing Higher

Advertisement

large-cap stocks - 5 Large-Cap Stocks Blitzing Higher

Source: Shutterstock

U.S. equities are rebounding from Tuesday’s ugliness with aplomb as Wall Street continues to feel the warm, positive vibes from newly dovish Federal Reserve chairman Jay Powell.

Moreover, senior White House officials continue to soften their shutdown stance, with reports that green cards are on the table for DACA recipients, setting the stage for a breakthrough in the stalemate that could get hundreds of thousands of federal workers back on the job.

As a result, a number of large-cap stocks are pushing strongly higher as the major indices hold above critical resistance levels. The Dow Jones Industrial Average has spent three days above its 50-day moving average and looks ready to close in on its 200-day average next.

In anticipation, here are five large-cap stocks to watch:

Large-Cap Stocks Blitzing Higher Comcast (CMCSA)

Comcast (CMCSA)

Comcast (NASDAQ:CMCSA) shares have punched up and over their 50-day moving average to return to the highs last seen in early December. This after a bounce on the 20-day average on Tuesday. Watch for a run at the prior high of $39.50, which would be worth a gain of roughly 7% from here.

The company reported results before the bell this morning. Earnings of 64 cents per share beat estimates by a penny on a 26.1% rise in revenues thanks to a 5.2% increase in Cable Communications sales. Previously, the company reported on Oct. 25 with earnings of 65 cents per share beating estimates by 4 cents on a 5% rise in revenues.

Large-Cap Stocks Blitzing Higher Procter & Gamble (PG)

Procter & Gamble (PG)

Shares of Procter & Gamble (NYSE:PG) are pushing to fresh highs, testing above the $96-a-share level, after reporting better-than-expected quarterly results and raising forward guidance. Earnings of $1.25 per share were a 5% increase from the prior year driven by a lower tax rate. Organic sales growth clocked in at 4%, which is healthy in this environment.

Looking ahead, management raised the upper end of their organic sales growth guidance by 1% to a range of 2% to 4% for fiscal 2019. The company seems to be avoiding issues such as price pressure and higher transport costs hitting competitors like Kimberly-Clark (NYSE:KMB).

Large-Cap Stocks Blitzing Higher United Technologies (UTX)

United Technologies (UTX)

United Technologies (NYSE:UTX) shares are on the move in a big way, testing above their 50-day moving average and marking a near-20% rise off of the late December low. Watch for prices to chase down the 200-day average, which would be worth another 10% move from here.

The company reported results this morning before the bell. Earnings of $1.95 per share beat estimates by 42 cents on a 15.1% rise in revenues. Forward guidance was raised above estimates as well. Previously, the company reported on Oct. 23 with earnings of $1.93 per share beating estimates by 42 cents on a 15.1% rise in revenues.

Large-Cap Stocks Blitzing Higher Starbucks (SBUX)

Starbucks (SBUX)

Starbucks (NASDAQ:SBUX) shares have been a rare bright spot for the market, rising steadily since the summer, they have shrugged off the nastiness seen elsewhere. SBUX stock is back over its 50-day moving average and is closing in on its prior high set in November. This comes despite a downgrade by Goldman Sachs earlier this month.

The company will next report results on Jan. 24 before the bell. Analysts are looking for earnings of 66 cents per share on revenues of $6.5 billion. When the company last reported on Nov. 1, earnings of 62 cents per share beat estimates by 2 cents on a 10.6% rise in revenues.

Large-Cap Stocks Blitzing Higher Coca-Cola (KO)

Coca-Cola (KO)

Coca-Cola (NYSE:KO) shares are rising out of a two-month consolation base, setting the stage for a run at the 50-day moving average. A return to the prior highs would be worth a 4% gain from here. Analysts at UBS resumed coverage on the stock back in December with a Buy rating. CEO James Quincey was also on CNBC last month discussing the potential for a cannabis infused drink.

The company will next report results on Feb. 14 before the bell. Analysts are looking for earnings of 43 cents per share on revenues of $7.1 billion. When the company last reported on Oct. 30, earnings of 58 cents per share beat estimates by 3 cents despite a 9.2% drop in revenues.

As of this writing, William Roth did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/01/large-cap-stocks-blitzing-higher/.

©2024 InvestorPlace Media, LLC