Hot or Not, Stock Market Edition: 03/06/2025

Heat check! Here’s a review of some of the biggest market movers RN (in both directions):

• HOT: Okta (NASDAQ: OKTA) gains 20%+ on positive earnings news. Amazon (NASDAQ: AMZN) looks good despite recent losses. 
• NOT: Why didn’t a recent acquisition give Honeywell (NASDAQ: HON) a bump? Plus, get the story on Best Buy’s (NYSE: BBY) double-digit tumble.

P.S. For more stocks making moves, check out our new Zen Ratings Upgrades & Downgrades screener.

🔥 HOT: Identity and access management company Okta (NASDAQ: OKTA) gained 24.3% on Tuesday thanks to a better-than-expected earnings report. The company’s fourth-quarter revenue came in $13.1 million higher than projections, and its EPS was 5.9% higher than consensus estimates. Okta also raised its full-year guidance, which helped propel it to its highest close in nearly a year. Our internal ratings give OKTA an outstanding A rating for growth and a B for overall sentiment surrounding it. Overall, we give the stock a B Zen Rating and a Buy recommendation.

🥶 NOT: Best Buy’s (NYSE: BBY) share price plummeted by 13.3% on Tuesday despite the fact that the company posted positive earnings for the fourth quarter. The company’s EPS and revenue both exceeded expectations, the former by 7.6% and the latter by 1.96%. The company’s fourth-quarter success was also enough for it to raise its quarterly dividend by 1%. So why the loss? Best Buy’s CEO, Corie Barry, warned investors that the incoming tariffs from the Trump administration make higher prices all but guaranteed. He stressed that while Best Buy only imports about 3% of its products directly, higher costs up the supply chain will trickle down to raise the prices consumers see in stores. We expect tech products to be the most affected by the new tariffs and give BBY a C Zen Rating and a Hold recommendation until things clear up over the next few months.

🔥 HOT: Amazon (NASDAQ: AMZN) has lost about 6% YTD — compared with the NASDAQ’s 3.7% loss — but that might just mean it’s time to buy. Amazon has recently made gains in quantum computing and its plan to move its chip manufacturing in-house could be ramping up at just the right time. Amazon’s Sentiment score is a solid B thanks to its initiative to reduce its dependence on Nvidia for future AI workloads. Despite recent losses, we give AMZN a B Zen Rating and a Buy recommendation.

🥶 NOT: Shares of Honeywell (NASDAQ: HON) fell by 1.9% on Tuesday, bringing the company’s total 2025 loss to 8.4%. The company recently added Sundyne LLC in a $2.2 billion acquisition to beef up its sustainability business ahead of its planned break up. Honeywell is splitting into separate aerospace, automation, and materials companies in a move likely driven by Elliott Management, the firm that took a $5 billion stake in the company just a few months ago. Due to uncertainty surrounding this breakup and the uncertainty that comes with President Trump’s new import tariffs, we give HON a C Zen Rating for the time being.

What to Do Next?

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