Hot or Not, Stock Market Edition: 10/29/2026

Happy Thursday. Here’s what the Zen Ratings are cleaning up and clearing out today:

• Hot: Hazardous waste specialist Clean Harbors (CLH) is #1 in its industry with earnings due tomorrow; oncology biotech Exelixis (EXEL) is knocking on its 52-week high
• Not: Drone and defense player Ondas (ONDS) is dead last in its industry; egg producer Cal-Maine (CALM) can’t escape collapsing prices

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🔥 HOT: Hazardous waste specialist Clean Harbors (CLH) just closed two acquisitions that expand its already massive North American network, and earnings arrive tomorrow. Wall Street is warming to the story too, with recent upgrades from several analysts. For investors, that creates a near-term catalyst on top of a longer-term consolidation play in an industry with high barriers to entry.

Shares are up more than 50% from their 52-week low and sit near their high, while most analysts covering the stock rate it Buy or Strong Buy.

CLH has a Zen Rating of A, a Strong Buy recommendation. The Component Grades help explain the confidence: Sentiment earns an A, while Safety, Financials, and Artificial Intelligence receive B grades. That points to strong analyst support backed by a relatively stable, financially sound business. Value and Growth are weaker, so the stock is not especially cheap. Bottom line: two fresh acquisitions and tomorrow’s earnings give Clean Harbors real catalysts, with Wall Street already leaning bullish.

🥶 NOT: Drone and defense technology company Ondas Holdings (ONDS) has no shortage of exciting announcements, including a growing order book, a large weapons contract, and an AI venture with Palantir. The problem is that the financials are nowhere close to supporting the story. Cash burn is accelerating, operating cash flow is deeply negative, and insiders have been consistent sellers.

Shares are down nearly 60% from their 52-week high even though the broader industry is holding up much better.

ONDS has a Zen Rating of F, a Strong Sell recommendation. The Component Grades show just how broad the weakness is: Growth, Safety, and Artificial Intelligence all earn F grades, while Value, Momentum, Sentiment, and Financials receive D grades. Every single component sits in Sell territory. Bottom line: the contracts may be real, but investors are still being asked to fund an ambitious defense story with virtually no fundamental support underneath it.

🔥 HOT: Oncology biotech Exelixis (EXEL) is heading into earnings with a highly profitable core drug and another potential growth engine waiting in the wings. Revenue from one medication has passed $3 billion, another prominent one is moving toward launch, and margins remain exceptional. For investors, tomorrow’s earnings could offer fresh evidence that this is more than a one-drug story.

Shares are already near their 52-week high, but the valuation case remains interesting given strong profitability and much higher DCF estimates. (See them here.)

EXEL has a Zen Rating of A, a Strong Buy recommendation. The underlying Component Grades show where the strength lies: Value and Financials both earn A grades, while Momentum gets a B. That suggests investors are getting a financially strong biotech that still screens attractively despite the run. Bottom line: strong margins, a growing oncology pipeline, and a fresh earnings catalyst make Exelixis one of the more compelling biotech setups right now.

🥶 NOT: Egg producer Cal-Maine Foods (CALM) is getting hit by a sharp reversal in egg prices. Sales fell more than 40%, the company swung to a loss, and analysts have backed away from their bullish calls. For investors, the problem is that the stock still looks expensive even after earnings collapsed.

Shares are down roughly a third from their 52-week high and sit close to their low, while every remaining analyst rates the stock Hold.

But even more telling, CALM has a Zen Rating of F, a Strong Sell recommendation. The Component Grades show why the downturn may not be finished: Growth and Sentiment both earn F grades, while Value and Momentum receive D grades. That points to deteriorating earnings, weak expectations, and a stock that still does not look cheap enough to compensate. Bottom line: egg prices will eventually cycle higher, but Cal-Maine looks early rather than undervalued today.

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