One of Saxo’s leading market analysts, Jessica Amir, has highlighted five stocks to watch next week based on timely newsflow.
McDonald’s
“Recession-stalwart McDonald’s has been outperforming the market this year, as it typically does in tough markets. McDonald’s reported stronger quarterly sales than the market expected, showing its somewhat defying inflationary pressures. McDonald’s put its strong sales down to the McRib burger. With the CEO saying it’s the “the greatest of all time” seller and the McRib to soon be available in the UK for Halloween, being released on October 31. That’s something to sink your teeth into.”
Boeing
“Boeing shares have underperformed this year, falling 33%, however, the question is, could its business be turning around? The company released a bullish 20-year forecast for China’s commercial jet market, saying China will need to double its fleet in two decades with Boeing saying China will be a major driver of its sales. Boeing sees China needing almost 8,500 new passenger and freighter planes valued at $1.5 trillion through 2041. So that’s something to think about.”
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Macquarie Group
“Macquarie Group is Australia’s biggest investment bank and reported profit results that beat market forecasts, with market volatility buoying its commodities and global market trading businesses. Macquarie’s net income for the half year rose to A$2.31 billion up from A$2 billion in the prior year. That also beat the forecast, so its shares rose as a result. But here is something to consider; when commodity and market volatility picks up, we typically see financial trading businesses benefit. So, it could be worth keeping an eye on Macquarie.”
Computershare
“Computershare is a share registry business, which you may have heard of if you’ve ever bought or sold shares. You may have received their statements in the mail, for share purchase plans perhaps. Computershare shares have been outperforming the market, they are up 21% this year. Businesses like Computershare also are highly leveraged to rising interest rates, meaning, their earnings typically rise when interest rates do. In 2022, consensus (or the market) upgraded Computershare’s 2023 earnings by 42%, but Bloomberg is even more optimistic, expecting more earnings upside.”
Marathon Oil
“Marathon Oil (MAR) is one of the best performing stocks in the US this year, trading up 87%. It’s due to report financial results in November. It’s also worth noting that our chief commodity strategist Ole Hansen has been expecting oil margins to rise again, given the oil price is moving up, with the oil market in tight supply and worried about the escalating prices of fuel in the northern hemisphere winter. So that means, oil companies like Marathon could continue to gain momentum.”
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