Today's 5 Stock Ideas:
- General Motors (GM) - Shares were up more than 7% in pre-market action Tuesday following news the company has formed a strategic partnership with electric vehicle company Nikola (NKLA). GM will engineer and manufacturing Nikola's Badger truck. Nikola shares were up about 35% on the news.
- lululemon athletica (LULU) - Will report quarterly results after the close Tuesday. Analysts expect a gain of $0.55/share on sales of about $842.5 million.
- SPDR S&P Homebuilders ETF (XHB) - The Federal Reserve's Beige Book survey of regional business activity across the US, released on Wednesday of last week, said residential construction was a "bright spot" of economic activity. The XHB ETF is a great way to broadly play the housing sector.
- Applied Genetic Technologies (AGTC) - Will present updated details on its planned Phase 2/3 X-linked retinitis pigmentosa trial design on Wednesday of this week.
- Generac (GNRC) - A play on generators. A stock pick by the guys over at the Dumb Money YouTube channel on Friday. One of the hosts, Chris Camillo, said his generator dealer has indicated Generac generators will not be available for purchase until mid 2021 because demand is so strong.