Boosted by a positive response to its recent earnings beat, JPMorgan Chase (JPM) has climbed up out of the yellow zone (which was as far as it fell in the winter banking crisis) and back into the Green Favored Zone of the SIA S&P 100 Index Report for the first time since March. Yesterday it moved up 7 positions to 24th place and it is up 10 spots in the last month.
In today’s edition of the Daily Stock Report, we are going to feature Power Corp (POW.TO). This is the first time we have looked at Power Corp in almost two years. Power Corp has shown consistent strength over the last little while moving up 2 spots in the last month and 10 spots in the last quarter in SIA’s TSX 60 Index Report. Currently the shares sit in the Favored Zone in the SIA TSX 60 Index in the #13 spot of the report.
Benefitting from renewed interest in travel/leisure stocks, casino and hotel operator MGM Resorts has returned to the Green Favored Zone of the SIA S&P 500 Index Report from a short dip into the yellow zone. Yesterday, MGM finished in 113th place, up 15 spots on the day.
Oilfield service provider Schlumberger (SLB) has soared back up the rankings this month, exiting the red zone and returning to the Green Favored Zone for the first time since March. After climbing another 13 spots yesterday and rising 230 positions in the last month, SLB finished yesterday in 108th place.
After spending most of the last year stuck in the yellow zone of the SIA S&P 100 Index Report, home improvement retailer Lowes Companies (LOW) has returned to the Green Favored Zone. Continuing an ascent up the rankings which started back in May, Lowes finished in 26th place, up 4 spots in the last day.
Tourmaline Oil (TOU.TO) has been working its way back up the rankings in the SIA S&P/TSX Composite Index Report since March. It exited the red zone in late May and yesterday it returned to the Green Favored Zone for the first time since January. Yesterday, TOU.TO finished in 52nd place, up 4 spots on the day and up 51 positions in the last month.
FedEx (FDX) has been trending upward within the SIA S&P 500 Index Report since September. On Friday, FDX returned to the Green Favored Zone bouncing back from a two-month dip into the Yellow Zone. Yesterday it finished in 123rd place up 3 spots on the day and up 27 positions in the last month.
Electric vehicle producer Rivian Automotive (RIVN) was the top performer and one of only 14 stocks in the SIA NASDAQ 100 Index Report to post a gain in the face of yesterday’s broad market correction. Since joining the report back in December, the shares had been stuck deep in the red zone. Boosted by strong growth in deliveries, RIVN has rallied for a 35.0% gain in the last week, enabling the shares to soar up the rankings and climb into the Green Favored Zone. Yesterday, RIVN finished in 22nd place, up 9 spots on the day and up 57 positions in the last month.
Canadian Tire (CTC.A.TO) has been increasingly climbing up the rankings in the SIA SP/TSX 60 Index Report since the start of this year. In February, it ended 16 months of being stuck in the red zone and yesterday, it returned to the Green Favored Zone for the first time since September of 2021. After climbing 5 positions yesterday, and 11 spots in the last month, CTC.A finished yesterday in 15th place.
Insurance giant Sun Life Financial (SLF.TO) has been climbing up the rankings in the SIA S&P/TSX Composite Index Report since September. Yesterday it returned to the Green Favored Zone for the first time since late 2019, finishing in 58th place, up 16 positions in the last month.
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