Today’s episode of Full Court Finance at Zacks discusses Wall Street’s up-and-down ride that began on Black Friday. The episode then dives into Lululemon LULU and FedEx FDX ahead of their financial releases to see if either stock might be worth buying at the moment.
Buyers stepped back in on Monday, following Friday’s big selloff that capped off a wild six-session stretch. The Dow was up 2%, while the S&P 500 had popped 1.3%, and the Nasdaq jumped 1% through late-afternoon trading to start the week. The major catalyst appears to be the possibility that the new Omicron variant will be milder than some had feared.
The selling and volatility kicked into high gear amid renewed covid uncertainty and Jay Powell’s comments that inflation might justify faster tapering. Powell also noted it might be time they stopped using ‘transitory’ when talking about rising prices. All of this helped push the Nasdaq down nearly 7% from its records at one point last week.
Wall Street has also used the recent headlines as a chance to take more profits off the table. Former high-flyers and big covid winners have suffered the most, with tons hitting new 52-week lows recently.
Selling and volatility could certainly continue. Still, long-term investors often utilize pullbacks as a chance to buy some of their favorite stocks at discounts.
With this in mind, we first explore Lululemon ahead of its Q3 financial release that’s due out on Thursday, December 9. The company has helped change the way millions of people dress amid its transformation from niche yoga retailer to global apparel standout.
Lululemon’s clothing and other apparel can now be worn at the gym and the golf course, as well as to nights out on the town. LULU has also expanded beyond apparel with its purchase of digital-focused at-home fitness company Mirror.
Next up is FedEx, with it prepared to release its Q2 FY22 earnings results on December 16. Despite its recent setbacks, which include rising labor costs, FedEx’s successful e-commerce expansion has better positioned the global shipping powerhouse for years of steady growth.
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FedEx Corporation (NYSE:FDX): Free Stock Analysis Report
lululemon athletica inc. (LULU): Free Stock Analysis Report
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