S&P 500 Biotech Giant Vertex Leads 5 Stocks Showing Strength

Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

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STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.

Why a New Home Buyer Should Not Rely on the Former Buyers Home Inspection Report

Not all home buyers end up closing on the home that they put an offer on. Things happen and deals do fall through. This happens for several reasons. The top reasons are financial approval fell through, the seller and buyer got along poorly, the sellers decided not to sell the home, and the condition of the home was worse than the buyer originally thought it was.Once the home purchase has been cancelled the first home buyers usually look at other homes. The sellers are now left to hope another buyer comes along. The home inspection report is often shared with the real estate agents and the seller. Erroneously this home inspection report is sometimes shared with the new home buyers. This is an error for a couple of reasons.The first reason is because the second buyer has no contract with the home inspector or the home inspection company. Because there is no agreement/contract if the second buyer has an issue with the home claiming that the home inspector missed a major issue there is zero responsibility for the inspector to take care of them. There was zero legal obligation.Another reason is that the new home buyer was not present at the inspection and therefore has not idea what conversations the former home buyer and inspector had. This can be vital information. Sometimes in the inspection agreement the buyer request somethings not be inspected so the report is not as whole as the new buyer may believe.The last reason I am giving here for not relying on the home inspection report created for a previous home buyers has to do with your warranty. To help sell homes agents and sellers will often buy a home warranty for the new home owner. However most home warranty companies will not repair a lot of your issues if you did not have a home inspection completed for you. I spoke with a home warranty rep and they do depend on the home inspection report to determine if items such as your furnace or air conditioner were working when you bought the home. If you do not have your own inspection report to verify that things did operate when you bought the home then you are out of luck and the warranty company will not pay to fix your broken stuff.If you are buying a home that was previously inspected then you need to have your own inspection done to be protected as fully as possible. If anyone tells you that it is fine to use the previous home inspection report they are wrong. Your are not protected well at all. When Habitation Investigation does a home inspection the client has the ability to get an 18 month warranty for the fee of 12 months. Habitation Investigation also provides warranties such as sewer line protections, 5 year roof leak warranty and 90 day warranty on structural and mechanicals. All those things are there for the home buyer if Habitation Investigation does the inspection for the clients who buy the home.

Northern Michigan Exciting Travel and Vacation Ideas on a Budget

Northern Michigan is the perfect travel and vacation destination with something to offer for everyone: Golfing, fishing, hiking, boating and other water activities to name just a few. With so much to offer and so much to see, making your vacation plans could be complicated, and with travel expenses and the price of gas higher than in more recent years, getting the most for your vacation dollar is important.Choose Boyne FallsMaking Boyne Falls, Michigan your travel and vacation destination will give you and your family more things to see and do in Northern Michigan and save money.o    Boyne Falls is centrally located to hundreds of the most popular vacationing activities.o    Only 6 miles from Lake Charlevoix, offering free boat launching, with plenty of free parking right on the lake.o    Minutes away from shopping, and dinning choices offering tasty burgers to exquisite fine dinning.o    Only 50 miles away from the Mackinaw Bridge.o    Home to the Annual Polish Festival held the First week of August.o    Boyne City Morel Mushroom festival.o    Close to dozens of Northern Michigan wineries.o    Enjoy golfing on some of the most popular courses in all of Michigan.o    Access to hiking, biking, fishing and almost endless possibilities of other fun and exciting things to see and do.The winter season is just as exciting and popular for your next vacation plan as well. Boyne Falls is located right next to Boyne Mountain and less than 30 minutes away from Nub’s Nob, and many other exciting snow skiing and winter sports locations. There is even hundreds of miles of action packed snowmobile trails that start in the Boyne Falls area.Comfortable Inexpensive LodgingThe focus of your vacation is going out and doing and seeing things, and the cost of lodging shouldn’t be a burden to your budget. By staying in Boyne Falls you can save hundreds of dollars on lodging, and get all of the creature comforts that those higher prices hotel chains offer at almost double the price. There are many local motels in the area that offer the same amenities as the more higher prices hotel and motel chains, but change up 60% less, and with savings like that you put that money back in your pocket where it belongs and have more money available to see and do more on your vacation!The bottom line in planning your vacation is to get the most value for your money and open up your options for sightseeing, and just having more fun, and Boyne Falls can make all of that a reality for less money and offering more fun all at the same time!o    3 airports super close, with one right in town, one 6 miles away in Boyne City, and Pellston Regional Airport only 35 miles away serving many major airlines companies.o    Access to local rental cars, boats, jet skis, bicycles.o    A large variety of shops and stores for your convenience.o    Perfectly located to all of the areas more popular tourist, and sightseeing attractions.There is truly something for everyone in Boyne Falls. Isn’t it time you vacationed in Boyne Falls Michigan?