Top Stocks To Buy Today As Unemployment Rate Beats Estimates

Despite pre-market futures dropping, markets sharply reversed and appeared flat. The post-election rally slightly cooled off as the unemployment rate fell to 6.9% in October from 7.9%. This crushed consensus estimates of 7.7%. 638,000 jobs were also added in October crushing an estimate of 530,000. This continues to be the best weekly performance for the markets since April, as Joe Biden appears to be moments away from clinching the US election. Stocks have also had their best election week performance since 1932. The Dow Jones was 16 points lower, or 0.1%, while the S&P 500 slipped 0.1%, and the Nasdaq NDAQ dipped 0.2%. While investors seemingly did not have a preferred candidate this election, they are clearly acting positively to the fact that uncertainty has passed. Investors also are happy that Congress will be divided, because that means a hike in capital gains taxes will likely not pass, regulation will not increase, and the China Trade War will not get worse. Investors are also hopeful that the sooner the election gets resolved, the sooner a stimulus will pass soon. For investors looking to make the most of this rally, the deep learning algorithms at Q.ai have crunched the data to give you a set of Top Buys. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best long plays.

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Advanced Micro Devices (AMD)

Semiconductor upstart Advanced Micro Devices AMD is our first Top Buy of the day. The stock, one of the strongest performers during the COVID-era, has been rapidly gaining market share in the chips space. Just last week, Advanced Micro Devices shook up the tech world after finalizing their acquisition of rival Xilinx XLNX for $35 billion. Our AI systems rated Advanced Micro Devices B in Technicals, A in Growth, B in Low Volatility Momentum, and C in Quality Value. The stock closed up 2.03% to $83.0 on volume of 45,762,940 vs its 10-day price average of $78.84 and its 22-day price average of $81.23, and is up 69.04% for the year. Revenue grew by 28.45% in the last fiscal year and grew by 64.59% over the last three fiscal years, Operating Income grew by 81.77% in the last fiscal year and grew by 803.15% over the last three fiscal years, and EPS grew by 146.14% in the last fiscal year and grew by -2230.24% over the last three fiscal years. Revenue was $6731.0M in the last fiscal year compared to $5253.0M three years ago, Operating Income was $631.0M in the last fiscal year compared to $127.0M three years ago, EPS was $0.3 in the last fiscal year compared to $(0.03) three years ago, and ROE was 16.66% in the last year compared to (6.52%) three years ago. Forward 12M Revenue is expected to grow by 21.85% over the next 12 months, and the stock is trading with a Forward 12M P/E of 47.58.

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Broadcom Inc (AVGO)

Broadcom AVGO is our next Top Buy of the day, and our other semiconductor giant on the list. Our AI systems rated Broadcom B in Technicals, B in Growth, C in Low Volatility Momentum, and A in Quality Value. The stock closed up 4.45% to $380.87 on volume of 2,145,493 vs its 10-day price average of $359.77 and its 22-day price average of $368.88, and is up 22.55% for the year. Revenue grew by 2.66% in the last fiscal year and grew by 31.53% over the last three fiscal years, while Operating Income grew by 47.49% over the last three fiscal years, and EPS grew by 32.6% over the last three fiscal years. Revenue was $22597.0M in the last fiscal year compared to $17636.0M three years ago, Operating Income was $4331.0M in the last fiscal year compared to $2689.0M three years ago, EPS was $6.43 in the last fiscal year compared to $4.02 three years ago, and ROE was 10.6% in the last year compared to 7.94% three years ago. Forward 12M Revenue is expected to grow by 7.04% over the next 12 months, and the stock is trading with a Forward 12M P/E of 15.34.

Costco Wholesale Corp (COST)

Costco is our third Top Buy of the day. The wholesale retailing giant has been another COVID winner this year, and after Walmart WMT , is the second largest retailer in the world. Our AI systems rated Costco B in Technicals, B in Growth, A in Low Volatility Momentum, and D in Quality Value. The stock closed up 2.41% to $385.23 on volume of 2,252,953 vs its 10-day price average of $370.04 and its 22-day price average of $372.29, and is up 33.28% for the year. Revenue was $166761.0M in the last fiscal year compared to $141576.0M three years ago, Operating Income was $6023.0M in the last fiscal year compared to $4480.0M three years ago, EPS was $9.02 in the last fiscal year compared to $7.09 three years ago, and ROE was 23.68% in the last year compared to 26.29% three years ago. The stock is also trading with a Forward 12M P/E of 39.84.

Hillenbrand Inc (HI)

Diversified industrial company Hillenbrand HI is our next Top Buy of the day. Hillenbrand has evolved into a diversified holding company known for having industrial businesses such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to death care leader Batesville in its portfolio. Our AI systems rated the company C in Technicals, B in Growth, C in Low Volatility Momentum, and C in Quality Value. The stock closed up 4.18% to $30.16 on volume of 471,937 vs its 10-day price average of $29.97 and its 22-day price average of $30.64, and is down 8.38% for the year. Revenue grew by 27.77% in the last fiscal year and grew by 45.21% over the last three fiscal years, and Operating Income grew by 20.79% in the last fiscal year and grew by 24.88% over the last three fiscal years. Revenue was $1807.3M in the last fiscal year compared to $1590.2M three years ago, Operating Income was $238.1M in the last fiscal year compared to $230.3M three years ago, EPS was $1.92 in the last fiscal year compared to $1.97 three years ago, and ROE was 16.67% in the last year compared to 18.19% three years ago. Forward 12M Revenue is expected to grow by 2.23% over the next 12 months, and the stock is trading with a Forward 12M P/E of 12.94.

Msg Networks Inc (MSGN)

New York based Msg Networks is our final Top Buy of the day. The regional TV network and radio service operates in the mid-atlantic region, and services all New York and New Jersey sports franchises. Our AI systems rated Msg Networks C in Technicals, B in Growth, B in Low Volatility Momentum, and A in Quality Value. The stock closed up 6.48% to $9.37 on volume of 409,357 vs its 10-day price average of $9.2 and its 22-day price average of $9.28, and is down 46.06% for the year. EPS grew by 3.01% in the last fiscal year. Revenue was $685.8M in the last fiscal year to $696.65M three years ago, Operating Income was $293.94M in the last fiscal year compared to $311.45M three years ago, and EPS was $2.92 in the last fiscal year compared to $3.81 three years ago. The stock is also trading with a Forward 12M P/E of 3.54.

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