6 Stocks In Focus On Hiring Spree Despite Market Turmoil

The global financial markets are currently going through one of the toughest periods since the Great Depression of 1930s owing to the coronavirus-induced crisis that has severely dented investor confidence. Unavailability of proper medical treatment to tackle the virus-led pandemic resulted in panic selling in stock markets across the globe, which in turn wiped out trillions of dollars.

Like several other nations, the government of United States has also ordered citizens of a large part of the country to stay at home in order to break the chain of coronavirus. As social distancing became the new buzz word, demand for essentials like toilet paper, disinfectants, masks, gloves, packaged water, infant supplies medicines, groceries and related staples continues to rise.

As a result of this situation, several retail stores, including supermarkets, grocery chains, medical and pharmacy stores and take-away restaurants are hiring people despite several economists and financial experts' warning of massive job cut owing to coronavirus pandemic. Moreover, social distancing has led to higher e-commerce influx. The companies are witnessing a flurry of orders on account of customers’ unwillingness to visit offline stores. Give the scenario, rapid deliveries have become the need of the hour.

6 Stocks in Focus With Strong Hiring

We have narrowed down our search to six companies which are hiring or have decided to hire significant number of employees (either part-time or full-time) to cater to the coronavirus-induced market demand. Each of our picks carries either a Zacks Rank #2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The chart below shows the price performance of 6 stocks in the past month.

Walmart Inc. (NYSE:WMT) engages in the retail and wholesale operations in various formats worldwide. It operates through three segments: Walmart U.S., Walmart International, and Sam's Club.

Walmart has decided to hire 100,000 people nationwide for full-time and part-time jobs in its delivery network and fulfillment centers.The Zacks Rank #3 company has an expected earnings growth rate of 20% for the current year.

Amazon.com Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services. Amazon also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Rings, and Echo and other devices.

The company has decided to hire 150,000 full-time, part-time and temporary employees at its distribution and fulfillment centers across the United States.The Zacks Rank #3 company has an expected earnings growth rate of 3.9% for the current year.

CVS Health Corp. (NYSE:CVS) is a pharmacy innovation company with integrated offerings across the entire spectrum of pharmacy care. Its Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

The company has decided to hire 50,000 full-time, part-time and temporary employees including store associates, home delivery drivers, distribution center employees and member/customer service professionals.The Zacks Rank #3 company has an expected earnings growth rate of 0.9% for the current year.

Dollar General Corp. (NYSE:DG) is one of the largest discount retailers in the United States. The company trades in low priced merchandise typically $10 or less. It offers a wide selection of merchandise, including consumable items, seasonal items, home products and apparel.

The company has decided to hire 50,000 by April. Although most of the openings will be temporary in nature some people may be retained as permanent employees.The Zacks Rank #3 company has an expected earnings growth rate of 10.7% for the current year (ending January 2021).

Domino's Pizza Inc. (NYSE:DPZ) operates as a pizza delivery company in the United States and internationally. It operates through three segments: U.S. Stores, International Franchise, and Supply Chain. The company offers pizzas under the Domino's brand name through company-owned and franchised stores.

Domino's Pizza has decided to hire 10,000 employees to work as pizza makers, delivery personnel and customer service representatives.The Zacks Rank #2 company has an expected earnings growth rate of 13.9% for the current year.

Papa John's International Inc. (NASDAQ:PZZA) operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries. The company has decided to hire 20,000 new restaurant team members.The Zacks Rank #3 company has an expected earnings growth rate of 29.1% for the current year.

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