Since the CNBC Investing Club’s July Monthly Meeting, the stock market has experienced significant volatility due to various factors, including quarterly earnings reports and inflation data. As a result, Wall Street has faced challenges in recent weeks. In this article, we will highlight the top performers from the Club’s portfolio during this period.
1. Eli Lilly: Eli Lilly and Company (LLY) emerged as the star performer, with its stock surging by an impressive 23.97% during the specified period. The company’s strong quarterly report on August 8 contributed to this success, surpassing Wall Street expectations in terms of earnings and sales. Eli Lilly witnessed a substantial increase in market value, thanks to the positive outlook for its diabetes treatment, Mounjaro, which may also be approved for weight loss. Experts, including Jim Cramer, predict that Mounjaro could become the best-selling drug of all time. Despite a slight decline in Thursday’s trading session, with the stock trading at $544, Eli Lilly has achieved a remarkable 48% year-to-date gain.
2. Humana: Humana (HUM) secured the second spot in terms of performance, with its stock increasing by 16.36% since the July meeting. The health insurer’s second-quarter numbers surpassed expectations, leading to a significant surge in its share price. Additionally, management commentary addressed concerns regarding medical-cost trends that had previously dampened investor sentiment. However, during the August Monthly Meeting, Jim Cramer expressed a slightly less favorable view of Humana’s stock. Currently trading at $490 per share, Humana has witnessed a year-to-date decline of over 4%.
3. Pioneer Natural Resources: Pioneer Natural Resources (PXD) experienced a notable jump of 8.44% after beating earnings expectations in early August. Despite downward trends in oil prices, the Permian Basin producer managed to maintain a positive performance throughout the quarter. This combination of reduced spending and increased production bodes well for the Club’s holdings in Pioneer Natural Resources. Currently trading 1.88% higher at $238.53, the company has achieved a year-to-date increase of 3.7%.
4. Caterpillar: Caterpillar (CAT) recorded an 8.25% increase since the last monthly gathering of the Club. The industrial giant’s stock reached an all-time high above $287 following improved quarterly results and positive commentary on the company’s operating environment during an investor conference call. Trading at around $277 on Thursday, CAT has experienced a solid year-to-date gain of 15%.
5. Alphabet: Among the Big Tech holdings, Alphabet (GOOGL) emerged as the best performer, with its stock rising by 8.21% during the specified period. The company’s solid quarterly results, including a beat on revenue and operating margin expansion, contributed to this upward trend. However, caution remains regarding Alphabet’s long-term prospects due to the uncertain regulatory environment in the United States. Currently trading at $130 per share, GOOGL has witnessed a substantial 47% upswing since the beginning of the year.
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[Disclaimer: Jim Cramer’s Charitable Trust holds positions in LLY, HUM, PXD, CAT, and GOOGL. For a complete list of stocks, please refer to the provided link.]
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