Each week, Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and deserve attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Here's a look at the Benzinga Stock Whisper Index for the week of Aug. 30:
Realty Income Corp O: Known to many as "the monthly dividend company," Realty Income is a real estate investment trust that pays out dividends on a monthly basis.
The stock saw increased interest from investors during the week, which could be related to a search for income to add to portfolios. The company reported adjusted funds from operations of $1.06 for the three months ending June 30.
"Supporting our stable and growing cash flow stream, our liquidity position remains strong, and our operations and portfolio of leading clients are healthy. Given these strengths, I am confident our global, diversified platform remains positioned to continue to deliver favorable risk-adjusted returns, given our current visibility into our future pipeline of opportunities," Realty Income CEO Sumit Roy said.
The company could be seeing interest from investors due to its stable history of paying out and increasing dividends. Realty Income shares are up 1.1% over the last week as seen on the Benzinga Pro chart below and up 4.8% year-to-date in 2024.
Bristol-Myers Squibb Co BMY: The global biopharmaceutical company saw increased interest from investors during the week, which could be for numerous reasons.
The company is expected to see approval for its schizophrenia treatment KarXT next month. The drug comes from Bristol Myers Squibb and Karuna Therapeutics, a company it acquired for $14 billion in December 2023.
In July, the company reported second-quarter revenue that beat analyst estimates with the company's portfolio of drugs and key blood thinner treatment Eliquis seeing strong growth.
"As we move into the second half of the year, we remain focused on prioritizing opportunities with the greatest growth potential and impact for patients, including the anticipated U.S. launch of KarXT," Bristol-Myers Squibb CEO Christopher Boerner said after second-quarter results.
Three analysts raised price targets on the company in August after the quarterly results. Bristol-Myers Squibb shares were up 4.3% over the last week and remain down on a year-to-date basis.
Travelers Companies Inc TRV: The insurance company saw strong interest from investors on minimal news.
The attention to the company could be coming as 2024 was expected to be an above-average hurricane season according to forecasts, but so far has been on the milder side.
A milder season could benefit the company financially. Travelers shares were up 3.1% over the last week and are up 18% year-to-date in 2024.
Innovative Eyewear LUCY: Shares of the eyeglasses and sunglasses company surged during the week on news of the company's products being sold through Target's digital channels.
The company's Lucyd Lyte frames are now available on Target.com. The low-float, $8 million company was highly volatile on the news as it is working to develop ChatGPT-enabled smart eyewear under its Lucyd brand and licensed brands like Nautica, Eddie Bauer and Reebok.
Shares of the company were up 38% over the last week, but remain down 43% year-to-date in 2024.
Edison International EIX: Utility stocks continue to be strong performers in recent weeks, which could be why Edison International saw strong interest from Benzinga readers during the week.
The owner of Southern California Edison has over five million utility customers. The company saw several analysts raise price targets after quarterly earnings.
Edison International is forecasting strong growth ahead along with working on minimizing the risk of fires in California. Shares of the utility company were up around 2% over the last week and are up nearly 20% year-to-date in 2024.
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
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