In Monday morning trade, three stocks that rallied sharply will look to continue from last Friday’s momentum.
DexCom (DXCM) gained 16.17% to close at $81.62. The medical devices supplier posted revenue of $1.04 billion (+12.9% Y/Y). The firm will buy back $750 million in shares in 2025. It expects revenue to grow by 14%.
DexCom ended the quarter with normal supply chain dynamics. Growth from new patients reached a record first quarter. Expect this momentum to continue.
AppLovin (APP) added 10% on May 2. Momentum investors are betting that $300 is the new support level, with advertising ex-gaming boosting the firm’s revenue this year. APP stock trades at a premium. However, the firm has strong profitability and growth characteristics. The stock momentum may continue today.
In the airline sector, investors are buying United Airlines Holdings (UAL). Since March, selling pressure mounted for UAL stock. Canadians boycotted travel to the U.S., which hurts the airline industry. However, when the U.S. eased its tariffs on automobiles, markets speculated that the trade war would also end. That would help the tourism industry.
Investors may buy Norwegian Cruise (NCLH) shares at a discount. In addition, Royal Caribbean (RCL) and Carnival (CCL) might also rebound if tourism sales rise.
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