On today’s episode of Full Court Finance at Zacks, we look at why the market jumped to new record highs. We then explore three large-cap Zacks Rank #1 (Strong Buy) stocks that investors might want to buy right now that don’t have to count on Pfizer’s vaccine progress.
Stocks posted their best week since April last week. The S&P 500, the Dow, and the Nasdaq all then surged to brand new record highs on Monday after Pfizer PFE and its partner BioNTech announced that their Covid-19 vaccine candidate is more than 90% effective in preventing infections.
Clearly, there are still unknowns and more hurdles to climb. Nonetheless, the news helped send social distancing stocks within travel and hospitality, such as Royal Caribbean (NYSE:RCL) Cruises RCL, soaring. This progress, along with the improving earnings picture, as well as Wall Street’s positive response to the prospects of divided government, could set up more bullish sentiment.
Despite the positive news, we take a look at three highly-ranked large cap stocks that are poised to grow and won’t need a vaccine to do so. We start with resurgent FedEx FDX, which posted blowout quarterly results in mid-September that highlighted its ability to thrive during the e-commerce age.
Next up is Nike (NYSE:NKE) NKE. The company remains on top of a fickle industry despite the growth of Lululemon LULU and a resurgent Adidas (OTC:ADDYY) ADDYY because of its ability to create trends and attach its brand to the biggest sports, athletes, and cultural icons in the world. The sportswear giant is also ready to thrive in the Amazon AMZN age, as showcased by its digital sales growth the last two quarters.
Lastly, we dive into The Boston Beer (NYSE:SAM) Company SAM. The stock has skyrocketed over the last year because it is at the forefront of the booming hard seltzer space that has all of the alcoholic beverage giants, and even the likes of Coca-Cola (NYSE:KO) KO, are trying to grab their share of the quickly growing pie.
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NIKE, Inc. (NKE): Free Stock Analysis Report
Amazon.com, Inc. (NASDAQ:AMZN): Free Stock Analysis Report
Pfizer Inc. (NYSE:PFE): Free Stock Analysis Report
FedEx Corporation (NYSE:FDX): Free Stock Analysis Report
lululemon athletica inc. (LULU): Free Stock Analysis Report
CocaCola Company The (KO): Free Stock Analysis Report
Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report
Adidas AG (DE:ADSGN) (ADDYY): Free Stock Analysis Report
The Boston Beer Company, Inc. (SAM): Free Stock Analysis Report
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