S&P 500 Biotech Giant Vertex Leads 5 Stocks Showing Strength

Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

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STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.

Ten Reasons to Become a Pharmacy Technician

So, you’ve been in the job market or plan to hit it soon and are looking for promising professions to join. While one solid reason often suffices to start a career in a particular field, we can give you ten reasons for becoming a pharmacy tech.But before that, let’s try and understand what exactly is it that a pharmacy technician does. Pharmacy technicians are allied healthcare professionals trained in performing administrative, clerical and pharmacy-related tasks under the direct supervision of a licensed pharmacist.You could call them the eyes and ears of a pharmacist as they provide a range of support services that help pharmacists fulfill their primary responsibilities. Here are top ten reasons why becoming a pharmacy technician may be a smart career move:Reason #1Positive job outlook: The U.S. Bureau of Labor Statistics has projected a much faster than average growth in the employment of pharmacy technicians over the next decade. According to the bureau, the growing number of older people requiring medication and advances in pharmaceutical research are expected to cause a 32 percent increase in the employment of pharmacy techs in the 2010-20 period.*Reason #2Minimal training requirement: Although pharmacy technicians do not have any formal educational requirements and can be trained on the job, but judging by the current employment trends, it’s best to complete a post secondary pharmacy technician training program and get professional certification to enjoy maximum opportunities. Career training in the field is available at vocational schools as well as community colleges. The training, depending on the program you choose, can last from a few months to a year.Reason #3Attractive remuneration: Pharmacy technicians enjoy attractive compensation, especially considering the fact that the educational prerequisites for the job are rudimentary at best compared to some of the other healthcare professions like nursing. According to the latest payscale.com data, pharmacy technicians make an average of $8.04 – $15.56 per hour or $16,773 – $35,199 per year in total pay, which includes annual salary, hourly wages, bonuses, overtime, tips, commissions, profit sharing, and other types of cash earnings.**Reason #4Online career training: Many schools offer online pharmacy technician training courses that are not just a flexible and convenient alternative to classroom training, but also accepted by employers as valid educational programs.Reason #5Flexibility in work schedule: Since a lot of pharmacies, especially the ones in hospitals, function round the clock, pharmacy techs may enjoy the flexibility to pick a work schedule that suits them. If you have other commitments during the day, you can request your employer for a late work shift.Reason #6Many work opportunities are available: Pharmacy technicians work in a variety of settings including hospital-based pharmacies, retail pharmacies, local drug stores, grocery and departmental stores, insurance companies, pharmaceutical research facilities, etc.Reason #7Opportunity to develop career skills: The job of a pharmacy technician can be a platform to develop important career skills that are also transferable from one job to another.Reason #8Work in clean environment: People with this job usually work in extremely clean and pleasant environment. In fact, part of their job is to keep the space they work in uncluttered and sanitized, so patients and/or their families can get their prescriptions filled without having to worry about contracting infections.Reason #9Potential to grow: With experience and further training, pharmacy technicians can rise up the ranks to supervisory roles. The work also provides an excellent training ground for pursuing advanced education in the field.Reason #10Become a part of the healthcare vertical: Becoming a pharmaceutical technician will provide you a chance to be a part of the flourishing healthcare sector and enjoy the prestige, stability, and gratification it offers. Not only will you receive the perks that come with being a healthcare professional, but you will also return home each day satisfied and content with having helped people at their time of need.Sources:*bls.gov/ooh/Healthcare/Pharmacy-technicians.htm#tab-6**payscale.com/research/US/Job=Pharmacy_Technician/Hourly_Rate

Kaplan University Online Health Sciences Degree

Kaplan University School of Health Sciences has online health sciences degrees at associate’s, bachelor’s, and master degree levels. Their School of Health Sciences could pave the way to a rewarding career in some of the largest expanding and versatile careers in today’s health care industry. Their online degree programs are designed to provide a solid and well rounded education to you so that you will be able to help others in the health care industry upon graduation. If you keep up with the health headlines, you already know that America’s health care system is changing everyday. Future medical and health managers must be able to handle complex situations and new technology, economics, finance, and policies. Kaplan’s bachelor degree in health sciences will provide you with a solid foundation in the health care management field and a master’s degree in health care administration will put you in a position for leadership and management positions. Kaplan University’s educators are experts in their field with hands on experience, ensuring that you get the most up to date education from excellent professors.Online degrees in this field offer a lot of freedom because of all the career paths available. Some include nursing, hospital administration, and even working in a doctor’s office. According to the US Bureau of Labor Statistics, jobs in the health care industry are said to increase 22 percent to 2016, which is twice as much as average for other careers. Current salaries for these professionals is $57,000 to $250,000!If protecting and improving the health of many people is your passion, consider earning your online health sciences degree. An online degree could be the best choice for you if you are a working student or parent who doesn’t want to sacrifice time on work to go back to school. Online degrees are convenient since you can access your courses at any computer at any time you feel easiest.Request more information from Kaplan University and they will contact you shortly.