Morning Stock Prep – Watchlist for May 30, 2019

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    Morning Stock Prep – Watchlist for May 30, 2019

    The Stock Market is opening up relatively flat, with a bit to the upside. Trump tweeted saying “Doing well with China, China would like to make a trade deal with U.S.” He also stated that he would release a “major” statement on Border Security later today or tomorrow.

    Economic numbers today were good, but the market did not bounce as one would expect, we might continue the pullback as there is so much uncertainty in the market and so many geopolitical situations. With that said, we might see a relatively flat day with some movers here and there, and possibly further pullback next week.

    JNJ – even though in the middle of a major lawsuit, they do have some upcoming announcements in the ASCO conference.
    AMD – Had a pullback yesterday, after a strong move, could see some reversal back to test the highs or over.
    TSLA – Even though it’s been bearish lately, could start to move back up as Elon has found his new twitter, leaked emails.

    Top Upgrades:

    AAT: MARKET OUTPERFORM @ JMP
    BWA: OVERWEIGHT @ BCS
    C: BUY @ GS
    CY: EQUALWEIGHT @ MS
    EHC: OVERWEIGHT @ BCS
    PEN: OVERWEIGHT @ JPM
    RS: BUY @ DB
    ZNGA: OVERWEIGHT @ Stephens

    Top Downgrades:

    AMTB: HOLD @ Suntrust
    EGO: UNDERWEIGHT @ JPM
    KGC: UNDERWEIGHT @ JPM
    KLXE: NEUTRAL @ Piper
    NGD: UNDERWEIGHT @ JPM
    NUE: HOLD @ DB
    STLD: HOLD @ DB
    TEVA: UNDERPERFORM @ BAC
    TOL: MARKET PERFORM @ RJ
    VSAT: MARKET PERFORM @ RJ
    VZ: NEUTRAL @ UBS
    X: SELL @ DB

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