Hot or Not, Stock Market Edition: 12/19/2024

By Dan Simms, Stock Reporter
December 18, 2024 3:36 PM UTC
Hot or Not, Stock Market Edition: 12/19/2024

Walmart (NYSE: WMT) can’t stop, won’t stop. The discount retailer just benefited from a new report from prominent firm Jefferies. Also hot? Pfizer (NYSE: PFE), which expects to hit its 2024 guidance. 

Not as hot? CVS (NYSE: CVS) continued its cold streak, with a 5.5% loss in a single day, while Broadcom (NASDAQ: AVGO) failed to maintain last week’s momentum. 📈 Want more? Check out the biggest winners and biggest losers on WSZ. 

🔥 HOT: Walmart (NYSE: WMT) gained 0.6% on Tuesday after a new report from Jefferies highlighted increased spending from families with household incomes greater than $100,000. Jefferies raised its price target for WMT to $111, sparking a tiny buying rally that put WMT ahead of the broader market. We see a lot of upside for WMT and give it a B Zen Rating. WMT has gained 82.0% YTD.

🥶 NOT: December has been a bad month so far for CVS (NYSE: CVS). The drugstore’s stock fell by 5.5% on Tuesday, bringing its total loss since the start of December to 25.4%. Investors are concerned for the company’s future after President-elect Trump said that pharmacy-benefit managers like CVS are the reason that prescription drug prices are so much higher in the U.S. than in other countries and that he plans to reign them in when he takes office next year. Tuesday’s closing price was CVS’s lowest close in more than 12 years, leaving the company down 44.2% YTD.

🔥 HOT: Drug giant Pfizer (NYSE: PFE) gained 4.7% on Tuesday after the company reiterated that it expects to hit its 2024 guidance. The company also said that it expects its 2025 revenue to be between $61 and $64 billion. Pfizer’s CEO stressed that the company has been focused on cutting costs and that it expects to save an additional half-billion dollars next year if all goes according to plan. We give PFE a rating of Strong Buy and see its 8.5% YTD loss as an effective discount on a stable pharmaceutical stock with a lot of room to move.

🥶 NOT: Shares of Broadcom (NASDAQ: AVGO) fell by 3.9% on Tuesday after gaining 38.2% last week after its latest earnings report showed that its market cap had crossed the $1 trillion line. Broadcom is making waves as it challenges Nvidia and other AI-chip incumbents on their turf. The company’s CEO, Hock Tan, said that the company projects between $60 and $90 billion in revenue in 2027 just from AI accelerator chips. With that said, Broadcom is playing catch-up, and it’s not clear that it will be able to make inroads as easily as its leadership seems to think.

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