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Why Meta Platforms and IBM Sold Off Last Week Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Tuesday, April 30, 2024
Tuesday's Stock Trades: Pfizer, CVS Health, and Mastercard
Value investors are anxious about Pfizer (PFE) today. The stock started to bounce back from its $25.20 low. The firm needs to post strong quarterly results on May 1. Otherwise, the stock yield rises from 6.63% to 7.0% as the share price falls.
Drug store and healthcare plan provider CVS Health (CVS) also posts results on May 1. The stock is only 4.7% above its 52-week low. After Humana (HUM) shares plunged by 43.99% from its one-year high, investors did not want to hold CVS stock. On April 16, UnitedHealth (UNH) rallied after posting a 9% increase in revenue Y/Y.
Trade credit card giant Mastercard (MA). It will post quarterly results on Wed. Just as Visa (V) is a stock that investors want to hold forever, Mastercard is an attractive holding.
Qualcomm (QCOM), Etsy (ETSY), Albemarle (ALB), and Fastly (FSTLY) are also posting results that day. Expect market volatility for Etsy and Fastly, since markets have trouble gauging their prospects.
Ahead of the quarterly report, expectations for Albemarle are very low. The stock has been stuck in a trading range of between $117 - $129 since last Oct. 2023. Markets are wary of lithium prices finding new lows. Demand for EVs is weak globally. This hurts lithium prices and damages Albemarle's operating income.
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