Stocks on Sale: Hershey, Monster, Altria, and Mobileye
Amid stock markets at an all-time high, investors have just a few bargain opportunities today.
Hershey (HSY) broke down from an uptrend recently, turning back from $176 to close at $161.95 on July 8. Wendy’s (WEN) announced that its CEO, Kirk Tanner, left the firm to join as Hershey’s CEO. Investors did not react positively yesterday. HSY stock fell by 4.7%.
Monster Beverage (MNST) is forming a downtrend after shares failed to break out past $64.45. MSNT stock closed down by 3.28% to close at $59.57. Investors likely took advantage of Stiefel issuing a “buy” rating on the stock. Stiefl is bullish on Monster’s performance in global markets. The firm dismissed higher costs related to aluminum. President Trump slapped a 50% tariff on the raw material.
Tobacco firm Altria Group (MO) unexpectedly fell by 3.01% on Wednesday to close at $57.75. Jefferies rated Philip Morris (PM) and Imperial Brands (IMBBY) with a bullish report. But it rated Altria with an underperform rating. It thinks the US Combustibles market has risks. Weakness in Traditional Oral is a headwind, while Modern Oral would grow.
Mobileye (MBLY) dropped by 7.08% to close at $17.32. Intel (INTC) plans to sell 45 million MBLY shares. It held 711.5 million Class B shares at the end of the first quarter.
