Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

1 Stock To Buy, 1 To Dump When Markets Open: General Motors, Conagra Brands

By Investing.com (Jesse Cohen/Investing.com)Stock MarketsOct 03, 2021 07:23AM ET
www.investing.com/analysis/1-stock-to-buy-1-to-dump-when-markets-open-general-motors-conagra-brands-200603805
1 Stock To Buy, 1 To Dump When Markets Open: General Motors, Conagra Brands
By Investing.com (Jesse Cohen/Investing.com)   |  Oct 03, 2021 07:23AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Stocks on Wall Street closed higher on Friday, entering the final quarter of 2021 in a buoyant mood. However, the benchmark S&P 500 index still suffered its worst weekly decline since February, falling 2.3%, as worries over the Federal Reserve’s tapering plans sapped investor risk appetite.

S&P 500 Daily Chart
S&P 500 Daily Chart

Between another batch of important economic data—including the latest U.S. employment report—as well as notable earnings from companies like PepsiCo (NASDAQ:PEP), Constellation Brands (NYSE:STZ), and Levi Strauss (NYSE:LEVI), the week ahead is expected to be an eventful one.

Regardless of which direction the market goes, below we highlight one stock likely to be in demand in the coming days and another which could see fresh losses. 

Remember though, our timeframe is just for the week ahead.

Stock To Buy: General Motors

General Motors (NYSE:GM) will be in focus  as the world’s third-largest automaker hosts a highly anticipated investor day event on Wednesday, Oct. 6.

At the event, Chief Executive Officer Mary Barra and other members of GM's leadership team will provide an overview of the company's ambitious long-term transformation growth strategy.

The presentations—which will be broadcast live on the GM website starting at 1:00PM ET—are expected to offer fresh details on the company’s electric vehicle (EV) roadmap, future manufacturing capabilities, and financial goals.

Management could also touch on plans to sell its autonomous driving software, as well as how the company intends to monetize its investment in self-driving ride-hailing company Cruise.

The event is expected to conclude at approximately 5:30PM ET.

GM Daily Chart
GM Daily Chart

The Detroit, Michigan-based automotive giant has thrived this year, with investors growing increasingly bullish on the vehicle maker as it seeks to shift away from gas and diesel cars and push into the high-flying EV sector.

By 2035, the U.S. auto giant aims to produce only electric vehicles, including 30 new plug-in models the company says will arrive by 2025.

GM stock, which has outperformed other notable names in the sector since the start of the year, such as Tesla (NASDAQ:TSLA), Nio (NYSE:NIO), and Toyota Motor (NYSE:TM), ended at $53.13 on Friday, giving the company a market cap of roughly $77.1 billion.

Year-to-date, General Motors shares have climbed by 27.5%, easily outperforming the S&P 500’s 16% increase over the same timeframe.

Stock To Dump: Conagra Brands

Shares of Conagra Brands, formerly ConAgra Foods (NYSE:CAG), are expected to suffer another volatile week as investors brace for disappointing financial results from one of America’s largest packaged-food companies.

The Chicago, Illinois-based corporation is scheduled to report fiscal first-quarter numbers before the U.S. market open on Thursday, Oct. 7.

Consensus estimates call for earnings per share (EPS) of $0.48, declining roughly 31% from EPS of $0.70 in the year-ago period. Revenue, meanwhile, is expected to fall around 6% year-over-year to $2.52 billion.

Perhaps of greater importance, Conagra’s outlook for the rest of the year and beyond will be in focus as it deals with the negative impact of higher ingredient costs and supply chain issues.

When the company reported fiscal Q4 earnings on July 13, management warned that higher commodity prices and shipping logjams will weigh on its full-year performance.  

Investors sold the stock in response, sending shares lower by more than 5%.

CAG Daily Chart
CAG Daily Chart

The packaged-foods giant, which manufactures consumer food staples such as Slim Jim beef jerky and Duncan Hines cake mixes, has seen its shares lag the broader market this year, falling 7% in 2021.

CAG stock closed Friday’s session at $33.70, not far from a recent 52-week low of $32.26 reached in August. At current levels, Conagra has a market cap of $16.2 billion.

1 Stock To Buy, 1 To Dump When Markets Open: General Motors, Conagra Brands
 

Related Articles

Tim Knight
AARK In Even Deeper Value Territory Now By Tim Knight - Jan 28, 2022 1

Remember late in December when Cathie Wood announced her stocks (ARK Innovation ETF (NYSE:ARKK)) were in deep value territory? Here’s a followup, with an arrow marking when she...

1 Stock To Buy, 1 To Dump When Markets Open: General Motors, Conagra Brands

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Barry Snow
Barry Snow Oct 04, 2021 8:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanks
Abdirashid Amiin
Abdirashid Amiin Oct 03, 2021 12:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email