Five Stocks to Watch in May
The stock market ended the month of April racking up its fifth consecutive month of gains as measured by the Dow and sixth, as measured by the Nasdaq and S&P 500 Indexes. By Tuesday's close, the S& P 500 Index traded up +0.3% to a new all-time high, closing at 1,597.57. The Index rose +1.8% in April.
Some Wall Street professionals cite the rise in Consumer Confidence - which increased to a five month high - to the efforts of the Federal Reserve's stimulus measures and the driving force behind the market rally.
Apple Inc. (AAPL) - The world's second largest company by market capitalization, the maker of the iPhone, iPad and other best-selling electronic products, Apple plans to make an offering of bonds in a first time move to issue debt. The initial offering is expected to raise between $15 and $18 billion with as much as $55 billion in bond issues by 2015. The first round of the financing already has orders for about $42 billion and will directly affect Apple's stock price.
First Solar Inc. (FSLR) - After running up over 45 percent on April 9th after the company forecast better guidance for 2013, First Solar stock has been trading near its yearly high above $47 per share. First Solar's stock currently has a short interest above 36 percent with a short ratio of 2.5. With earnings to be announced on May 6th, First Solar stock could rock in May.
JP Morgan Chase (JPM) - In April, JP Morgan Chase reported the company's 12th consecutive quarterly profit. Nevertheless, CEO Jamie Dimon is losing co-chief operating officer, Frank J. Bisignano, the latest executive to leave the bank. In its latest earnings release, JP Morgan Chase's net income surged 33 percent while non-interest expenses were cut 16 percent. With a Price/Earnings ratio of nine and a book value of $52 per share, JP Morgan Chase stock will certainly be one to watch in May.
Cabot Oil &Gas Corp. (COG) - In March, Cabot announced "Over 3,000 identified drilling locations in the sweet spot of the Marcellus Shale with rates of return that rival or exceed all of the top U.S. liquids plays at current commodity prices." After rising an impressive 107 percent in 2012 and finishing the year as one of the best performers, Cabot Oil & Gas stock is trading just below its 52-week high of $71 per share. May could see the stock go to new highs, or conversely consolidate at a lower level.
Tesla Motors Inc. (TSLA) - With earnings to be released on May 8th, Tesla Motors stock has been touted as the next Apple or Google by some Wall Street analysts . The stock tacked on one percent on Tuesday and is trading just 4 points off of its all time high at $53.99 per share. With as much as 44 percent of all publicly traded Tesla stock sold short, company executives may take aim at shorts, making the electric car manufacturer's stock one to keep an eye on in May.
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