Ten Hot Stocks To Explore On Wall Street

Businesses around the world have started recovering after hitting their record lows during the pandemic. The economy is gradually picking up. The rate of vaccination is accelerating, and the authorities have begun lifting the restrictions.

We explore ten stocks from different sectors, including consumer retail, technology, and industrial, which recently staged a strong performance on NYSE and NASDAQ. Some of them have provided a robust outlook with new products and services planned, while others reported vital operating metrics.

Ford Motor Company (NYSE:F)

The Detroit-based company, which has a market capitalization of US$58.3 billion, saw its share price surge approximately 25 percent in May. The stock soared 65 percent YTD.

Ford has lifted its investment target to more than US$30 billion for electrification by 2025. The company targets to make 40 percent of its global vehicle volume fully electric by 2030.

The automaker also partnered with SK Innovation to set up a battery joint venture BlueOvalSK in the U.S. to produce battery cells and other components for its electric vehicles. Ford plans to launch its new electric pickup truck, F-150 Lightning, unveiled recently, in the spring of 2022.

Beyond Meat, Inc. (NASDAQ:BYND)

The company makes meat products derived from plant protein. It has a market cap of US$8.5 billion. Its stock grew over 11 percent in May and is up 15 percent year to date.

Beyond Meat’s first-quarter net revenues rose 11.4 percent year over year. The California-based company is expecting its second-quarter net revenues to grow up to 32 percent.

READ MORE: Can Beyond Meat Stock (BYND) Continue Monday’s Rally?

Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Virgin Galactic completed its third spaceflight recently. It conducted the trial-run of its VSS Unity spaceship from Spaceport America in New Mexico, its first test from the site.

The spacecraft reached a maximum altitude of 55.45 miles before returning to earth.

Virgin Galactic stock jumped over 43 percent in May while it rose 30 percent year to date. The company has a market capitalization of US$7.1 billion.

READ MORE: Virgin Galactic Stock Rallies On Spaceflight Launch Update

Royal Caribbean Group (NYSE:RCL)

Cruise operators have started to announce their plans to resume cruising in a phased manner following the easing of restrictions.

This Miami-based cruise company operates three cruise brands, including Royal Caribbean International, Celebrity Cruises and Silversea Cruises.

Recently, the company said Celebrity Cruises' Celebrity Edge would depart from Port Everglades in Fort Lauderdale in June. Royal Caribbean International and Silversea Cruises have also announced summer voyages in Alaska, commencing from July.

Royal Caribbean’s stock gained around 7 percent in May and is up 25 percent year to date.

Target Corporation (NYSE:TGT)

The general merchandise retailer recently posted a 22.9 percent year-over-year increase in its fiscal first-quarter comparable sales, fueled by a strong apparel sales growth. The company’s total revenue during the quarter came in at US$24.20 billion.

Target expects its comparable sales to grow in mid-to-high single-digit in Q2.

Target’s stock rose approximately 8 percent in May while it gained over 25 percent year to date.

READ MORE: Target’s Stock Up 4% On Strong Q1 Earnings

Source: Pixabay

BlackBerry Limited (NYSE:BB)

BlackBerry provides security software and services. The company’s revenue totaled US$893 million in the fiscal year ended February 28.

The company recently unveiled its cloud-based endpoint detection and response solution BlackBerry Optics 3.0 and AI-driven zero-trust network access product BlackBerry Gateway.

Blackberry has a market capitalization of US$6.5 billion. The stock gained 13 percent in May and 50 percent YTD.

Peloton Interactive, Inc. (NASDAQ:PTON)

New York-based Peloton makes fitness equipment. The company has announced its plans to build the first U.S. factory in Ohio to make Peloton Bike, Bike+ and Peloton Tread from 2023. The company is investing US$400 million for the facility.

Peloton’s stock plunged earlier in May after it recalled about 125,000 Tread+ treadmill machines and roughly 1,050 Tread treadmills. However, the stock bounced back during the month.

For the fiscal third quarter ended March 31, the company reported a 141 percent year-over-year growth in its total revenue to US$1.26 billion.

Peloton has a market capitalization of US$32.8 billion. The stock declined 27 percent year to date but rose 12 percent in May.

CVS Health Corp (NYSE:CVS)

CVS Health operates through the drug store chain CVS Pharmacy, prescription benefit management business CVS Caremark and health insurance firm Aetna.

The Rhode Island-based company recently raised its outlook for 2021 following strong first-quarter results. CVS forecast its 2021 adjusted EPS in the range of US$7.56 to US$7.68, while GAAP diluted EPS is expected between US$6.24 to US$6.36.

CVS Health saw its share price grow 12 percent in May and around 26 percent year to date.

The Boeing Co (NYSE:BOE)

The Chicago-based aerospace company’s stock grew approximately 17 percent year to date and 5 percent in May.

Increasing vaccination rates and fewer restrictions are expected to boost the recovery in the aviation industry. Boeing logged revenue of $15.21 billion in Q1 of 2021.

Boeing recently secured orders from Lufthansa Group and SMBC Aviation Capital for five more 787 Dreamliners and 14 additional 737 jets, respectively.

The company has a market capitalization of US$148.9 billion.

READ MORE: Why General Electric, Boeing Stocks Gained on Thursday?

Nikola Corporation (NASDAQ:NKLA)

Nikola designs and makes battery-electric and hydrogen-electric trucks. The company targets to deliver the first Nikola Tre battery-electric truck during the fourth quarter this year.

The Arizona-based electric vehicle startup will commence trial production at its manufacturing facility in Arizona next month. Meanwhile, trial vehicle production at its joint venture facility at IVECO’s industrial complex in Germany is scheduled to begin this month.

Nikola’s share price lost over 3 percent this year, but it rallied around 28 percent in May. The company has a market capitalization of US$6 billion.