Last Friday, three stocks fell hard enough to be considered shares on sale.
Lamb Weston (LW) lost more than one-quarter of its value to close at $43.94. The chicken fast-food restaurant posted fiscal second-quarter non-GAAP EPS of $0.69. Revenue rose by 1.3% Y/Y to $1.62 billion. The small miss did not justify the stock from dropping heavily.
Management said that volume growth topped 8%. Also, its Focus to Win strategy is building on customer partnerships and achieving cost savings. However, markets are worried about the macroeconomic and competitive environment, especially in international markets.
In the apparel sector, Nike (NKE) accelerated its drop last week. NKE stock peaked at $80 in the summer but closed at $58.71. The CEO, Elliott Hill, said that the company is transforming. He cited Aero-FIT and Nike Mind as platforms for the products that might help the turnaround.
Although NKE stock looks like a sale, the stock is still too expensive to consider buying.
Lowe’s (LOW), a home improvement products supplier, dipped back to the $240.40 range. CEO Marvin Ellison believed that this year’s macro situation looked like that of 2024. It will need mortgage rates to fall before demand for its products improves.
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