Hot or Not, Stock Market Edition: 01/16/2025

What’s heating up in the market? Alaska Air Group (NYSE: ALK) continues its hot streak, while Amazon (NASDAQ: AMZN) experiences some ups and downs in the midst of an uptrend. 

What’s not so hot? Signet Jewelers (NYSE: SIG) fell on news of lower-than-expected sales, and Eli Lilly and Company (NYSE: LLY) drops following earnings. Here’s what we’re watching right now. 📈 Want more? Check out the biggest winners and biggest losers on WSZ. 

🔥 HOT: Alaska Air Group (NYSE: ALK) continued to outperform the broader market on Tuesday, gaining 1.4% to bring its gain over the last year to 61.7%. The stock’s momentum is as strong as ever, and it has more growth potential than bigger players like American Airlines (NASDAQ: AAL) or United Airlines (NASDAQ: UAL). We like the look of ALK and give it a B Zen Rating and a Buy recommendation.

🥶 NOT: It was not a happy holiday season for Signet Jewelers (NYSE: SIG), the parent company of Zales, Kay Jewelers, and Jared. Sales throughout the company’s various brands were much lower than expected, a result of customers opting for lower-cost jewelry in the current economic climate, according to internal analysis. SIG fell by 21.7% on Tuesday, making its total loss over the last year just under 40%. SIG maintains a C Zen Rating.

🔥 HOT: Amazon (NASDAQ: AMZN) traded sideways on Tuesday — losing 0.3% — as the market tried to make up its mind about the news that the e-commerce giant was closing its Try Before You Buy program on January 31st. The program allows customers to try clothing and other wearable products for one week before deciding which items to keep and which to return. Amazon says the program is no longer necessary due to the rise of virtual try-on technology, better reviews, and personalized sizing recommendations based on previous purchases. AMZN has gotten choppy over the last month but is still up 41.8% year-over-year and earns a B Zen Rating.

🥶 NOT: Shares of Eli Lilly and Company (NYSE: LLY) fell by 6.6% after rumblings that the company’s fourth-quarter earnings would be lower than Wall Street’s consensus estimates even though the company doesn’t report earnings until next Thursday, February 6th. Word on the street is that sales of the company’s weight-loss drug were lower than expected, possibly due to the rockstar success of Novo Nordisk’s Ozempic. Even with Tuesday’s drop, LLY remains up 15.7% over the last year, and we maintain it with a Hold recommendation and C Zen Rating.

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