Bath & Body Works (BBWI) – A sympathy and potential contrarian play following NIKE’s (NKE) better-than-expected quarterly results but inventory figures that weighed on NIKE shares. While an analyst at Morgan Stanley said the sharp move lower in NIKE shares (the stock was down about 12% in Friday’s pre-market session) could create a buying opportunity for select long-term investors, the analyst noted better value elsewhere in the apparel/retail space. Bath & Body Works, Skechers USA (SKX) and lululemon (LULU) were mentioned as alternative plays to NIKE.
Micron (MU) – Micron shares were modestly lower Friday morning following mixed quarterly results and concerning guidance. Several Micron analysts were optimistic on the company and stock following the earnings news.
Tesla (TSLA) – A play on an under-the-radar call by an analyst last week that Tesla’s China deliveries could be worse than expected.
Duke Energy (DUK) – A play on a utilities company in the Carolinas. The named storm which caused millions of power outages in Florida earlier this week, Ian, veered east into the Atlantic Ocean after making landfall in Florida. As such, the storm has turned back into a hurricane and is expected to make landfall in South Carolina Friday afternoon. The storm is expected to break up inland over the Carolinas and continue north into Virginia.
SeqLL (SQL) – A penny-stock, low-float momentum du jour play of Friday. Shares were up about 18% on no news. The issues float is around 7 million shares.