11 hot stocks to watch this week

Highlights

• Energy companies are likely to be in focus this week as they present their quarterly results in the backdrop of rising fuel prices and limited supplies.
  
  
• Earnings of travel and ride-hailing companies would also be in focus as investors track their quarterly earnings amid high fuel costs and growing travel activities.
  
  
• The Federal Reserve’s Open Market Committee is expected to outline its tapering plans this week.

Several major oil & gas and ride-hailing companies are expected to report their quarterly financial results this week. So far, most S&P 500 companies have beat Wall Street expectations in the third quarter, pushing the index to record highs last month.

While inflation and supply shortages remain a concern for the industries, traders are expected to focus on the Fed’s tapering plan and a likely rate hike timeline next year.

Here are some of the top stocks that are likely to be on investors’ focus this week.

IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Quarterly earnings report – Nov 2

Market Capitalization – US$244.3 billion 

P/E ratio - 78.59

Dividend yield – N/A

The Westbrook, Maine-headquartered healthcare company manufactures diagnostic products and provides medical services for pets and livestock.

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Pfizer, Inc. (NYSE:PFE)

Quarterly earnings report – Nov 2

Market Capitalization – US$449 billion 

P/E ratio – 18.71

Dividend yield – 3.57%

This New York-based healthcare company is one of the largest pharmaceutical firms worldwide. It earns revenue from various healthcare products, including chemicals and prescription drugs.

Also Read: Seven stocks to explore amid treasury bond yield fears

Source – Pixabay

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T-Mobile US, Inc. (NASDAQ:TMUS)

Quarterly earnings report – Nov 2 (Aftermarket close)

Market Capitalization – US$145 billion 

P/E ratio – 37.21

Dividend yield – N/A

The Bellevue, Washington-based T-Mobile offers advanced 4G LTE and 5G network services nationwide. On Monday, it launched exclusive smartphone offers, including 5G phones, at 2,300 Walmart locations across the country.

Also Read: Where to travel as COVID-19 continues

ConocoPhillips (NYSE:COP)

Quarterly earnings report – Nov 2

Market Capitalization – US$151 billion 

P/E ratio – 16.74

Dividend yield – 2.04%

The Houston, Texas-based ConocoPhillips is a leading global oil and gas exploration company. It produced 727,000 barrels of oil and natural gas liquids per day at the end of 2020.

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QUALCOMM Incorporated (NASDAQ:QCOM)

Quarterly earnings report – Nov 3 (Aftermarket close)

Market Capitalization – US$151 billion 

P/E ratio – 16.74

Dividend yield – 2.04%

The San Diego, California-based company provides wireless technology and designs chips for smartphones. On Monday, it announced plans to achieve net-zero global emissions by 2040.

Also Read: Top stocks with digital asset exposure to keep an eye on

CVS Health Corporation (NYSE:CVS)

Quarterly earnings report – Nov 3 

Market Capitalization – US$119.7 billion 

P/E ratio – 16.64

Dividend yield – 2.24%

The Woonsocket, Rhode Island-based company provides integrated healthcare services to its members. The company helps members to access healthcare at low cost and conveniently.

Also Read: Travel stocks to watch as the US lifts restrictions

Alibaba Group Holding Limited (NYSE:BABA)

Quarterly earnings report – Nov 4 

Market Capitalization – US$461 billion 

P/E ratio – 20.72

Dividend yield – N/A

Based in Hangzhou, China, it is one of the world’s largest e-commerce companies. 

Also Read: Five logistics stocks to watch as retailers build up holiday inventory

Moderna, Inc. (NASDAQ:MRNA)

Quarterly earnings report – Nov 4 

Market Capitalization – US$134.4 billion 

P/E ratio – 41.52

Dividend yield – N/A

The Cambridge, Massachusetts-based MRNA is a commercial-stage pharmaceutical company. It uses mRNA technology to develop Covid-19 vaccines.

Also Read: Colgate-Palmolive’s (CL) net income declines but revenue up

Airbnb, Inc. (NASDAQ:ABNB)

Quarterly earnings report – Nov 4 (After market close)

Market Capitalization – US$104 billion 

P/E ratio – N/A

Dividend yield – N/A

The San Francisco, California-headquartered company is an alternative accommodation travel agency. It also offers boutique hotels and experiences.

Also Read: Exxon (XOM), Chevron (CVX) profits soar on strong demand

Source – Pixabay

Also Read: Why did ABVC stock jump more than 200% today?

Uber Technologies, Inc. (NYSE:UBER)

Quarterly earnings report – Nov 4 (Aftermarket)

Market Capitalization – US$86 billion 

P/E ratio – N/A

Dividend yield – N/A

The San Francisco, California-based Uber is a technology company and provides ride-hailing services to customers. It also offers services like connecting people with food delivery providers and shippers with carriers.

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Mondelez International, Inc. (NASDAQ:MDLZ)

Quarterly earnings report – Nov 4 (Aftermarket close)

Market Capitalization – US$85 billion 

P/E ratio – 20.14

Dividend yield – 2.3%

The Chicago, Illinois -headquartered Mondelez is a leading company in snack production. Its brands include Oreo, Halls, Cadbury, Trident, and Chips Ahoy, among others. 

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Bottomline

Many other companies are expected to declare their quarterly results this week. Over the past weeks, several top companies like Apple, Amazon, and Tesla have already reported their earnings. Analysts expect third-quarter profit for the S&P 500 companies to increase more than 38% YoY, according to Refinitiv data. However, investors should evaluate the companies thoroughly before investing in the stock market.