Category: Daily Stock Report

Lockheed Martin (LMT) surpassed earnings estimates but its shares fell by 6.7%, underperforming the S&P 100’s 1.9% rise. SIACharts’ analysis shows a downward trend in LMT’s relative strength, moving from the green to the Red Unfavored Zone. The stock’s position declined by 11 spots in a week, now ranking 85th in the SIA S&P 100 Index Report.

Mining sector weakness, initially noted last week in Agnico-Eagle Mines and Wheaton Precious Metals, is now impacting steel. Algoma Steel (ASTL.TO) has fallen from its high, dropping to the Yellow Neutral Zone, and descending 49 spots to 64th place in a month.

Tesla Inc. (TSLA) now occupies the lowest rank in the SIA S&P 100 Index Report. Following a disappointing earnings report, TSLA’s stock plummeted by 12.1%. The stock has been in decline since October 25th, falling 14.02% compared to the S&P 100’s rise of 17.27%.

In the latest SIACharts analysis, Netflix, Inc. (NFLX) re-enters the Green Favored Zone of the SIA S&P 100 Index Report, following an 11.9% surge in the past week alone, significantly ahead of the S&P 100’s 3.25% increase. As a result, Netflix has moved up to 9th place in our rankings, signaling strong investor confidence fueled by its sales and subscriber base expansion.

Walgreens Boots Alliance Inc (WBA) has faced a challenging trajectory since its exit from the green zone in June 2021. Shares of the drug store giant have since plummeted by 57.7%. Despite a brief rise within the Red Unfavored Zone in late 2023, WBA fell 28 ranks to 94th place, losing already 13.5% year-to-date.

Wheaton Precious Metals (WPM.TO) has declined in the SIA S&P/TSX 60 Index Report, shifting from the green to the Yellow Neutral Zone. Now ranked 20th, it dropped 12 spots in a month, with its share price decreasing by 6.0%, diverging from the S&P/TSX Composite Index’s 0.25% gain. This movement suggests a potential investor shift away from gold stocks, despite stable gold prices.

UnitedHealth Group Inc (UNH) shifted out of the green zone on December 14th, recording a 5.7% share value drop, contrasting with a 10.3% gain in the S&P 100 Index (OEX.I). Recently, UNH reentered the Red Unfavored Zone, declining to 55th place, a 17-spot drop over the month.

Agnico Eagle Mines Ltd (AEM.TO) has seen a significant 9.0% decrease in the last month, compared to a 0.9% drop in gold prices. This decline has led to a fall of 8 positions in the SIA S&P/TSX 60 Index Report, with AEM.TO re-entering the Red Unfavored Zone for the first time since October 2023. This shift indicates potential market concerns, as gold stocks retreat amidst a broader stabilization of gold prices between $2,000 and $2,080, and hints at a deeper correction in the face of strengthening treasury yields and the US Dollar.

As one of the top two largest market cap stocks in the world, and one of the highest weighted stocks in large cap US and global indices, Apple (AAPL) can be seen as one of primary bellweather stocks for equity markets.
After a relatively slow start to the year, Apple spent most of 2023 in the green zone of the SIA S&P 100 Index Report, particularly from April through to the end of last year. Apple kicked off 2024 by dropping out of the green zone into the Yellow Neutral Zone and it has been steadily sinking back down the rankings since then. This decline suggests that investors may be taking profits in big caps, particularly in Technology and rotating capital down the food chain or out to other sectors. Over the last month, Apple has dropped 17 positions to 38th place.

BNY Mellon (BK) has exhibited a notable recovery in the SIACharts S&P 100 Index Report rankings since its decline last spring. The downward trend reversed as treasury yields decreased and the financial sector regained favor, propelling BK from the red to the Green Favored Zone, a position not held since the previous March. The company’s recent performance, with a 17.5% rally since November, notably outperformed the S&P 100’s 4.3% increase, contrasting its earlier underperformance while in the red zone.