We're downgrading a retail stock
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Investors are rotating out of tech stocks into value-oriented areas, causing the S&P 500 to fall.
- Key economic releases this week include October retail sales, November employment report, and November's consumer price index.
- Costco's stock has lagged the market, and customer membership renewal rates are decreasing, leading to a downgrade to a hold-equivalent rating.
- Evercore ISI initiated coverage on Honeywell and GE Vernova with buy ratings, citing growth potential.
- The CNBC Investing Club downgraded GE Vernova to a 2 rating after booking profits following its recent rally.