After shares bottomed below $100 this year, Genuine Parts (GPC) continued its breakout last week. GPC stock is up by 16% in the last week on rumors that O’Reilly Automotive (ORLY) would buy the firm.
Auto parts stocks are appealing. Consumers are avoiding new cars and fixing their existing vehicles amid inflation. Advance Auto Parts (AAP), AutoZone (AZO), and Magna (MGA) are also worth considering.
Vaccine supplier Moderna (MRNA) touched a one-year high of $81.40 before closing just below $80.00. The company updated investors during a Science Day event. Its pipeline is beyond just vaccines. For example, the mRNA platform expertise applies to T-cell engagers, along with in vivo CAR-T.
In the drug space, avoid Pfizer (PFE), whose $26 - $27 support zone broke down. PFE stock closed at $24.32 last week. Bristol-Myers Squibb (BMY) is also forming a downtrend. Shares peaked in February at over $62.00.
Honeywell Aerospace (HONA) traded toward a yearly high. The firm is in a good position across the aerospace markets. Its defense offering should expand the total addressable market. After Aerovironment (AVAV) gained 39.66% in the last week, investors are building positions in beaten-up aerospace firms. Northrop Grumman (NOC) and Lockheed Martin (LMT) rebounded, while RTX shares are on an uptrend.
