CWS Market Review – October 18, 2019

Oct 18 11:10 2019 Print This Article

“There is nothing more deceptive than an obvious fact.” – Sherlock Holmes

This week, our two Buy List bank stocks rallied after reporting better-than-expected earnings. Signature Bank gained 1.9%, and Eagle Bank rose 1.4%. At one point, Eagle was up more than 11% on the day.

I’m especially glad to see good news from Eagle after the stock got a super-atomic wedgie three months ago. Shares of EGBN are now up 16% off their low, yet the stock is still trading at less than 10 times this year’s earnings. I’ll have all the details in a bit.

On Thursday, the S&P 500 came close to finishing above 3,000 for the first time in a month, but it fell just shy. Over four scary trading days this summer, the index dropped 5.5%, and we’ve nearly made it all back.

In this week’s CWS Market Review, I’ll go over our two Buy List earnings reports for this week. I’ll also preview the reports we have coming next week. It’s going to be a busy week for us. We have seven Buy List stocks due to report, including five on Thursday. I’ll break it all down for you. But first, let’s look at look at our Q3 earnings calendar.

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About Article Author

Crossing Wall Street

As an experienced fund manager, Eddy Elfenbein created Crossing Wallstreet to help investors avoid the mistakes that separate successful investors made. The key to doing well on Wall Street is actually very simple: Buy and hold shares of outstanding companies. But too many investors never learn this valuable lesson. He gives investors his free and unbiased view of the market. Eddy analyze's dozens of companies every week and is always looking over income statements and balance sheets. He's spent several years collecting a list of the best companies to own. His buy list is on Crossing Wallstreet. All of the information on this site is free and unbiased.

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