Stock picks to buy, 44 cheap companies poised to surge: Morgan Stanley

  • Taking newly-released economic data into consideration, a team of Morgan Stanley equity strategists reiterated their belief that a V-shaped economic recovery is underway.
  • They explained why Phase III vaccine data in November could be the catalyst for the recovery to gain further momentum and drive the reopening ahead. 
  • The team used quantitative screening and leveraged analyst research to identify 44 stocks across industries that are poised to surge as the economic rebound and reopening take off. 
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Seven months into the coronavirus pandemic, questions still remain around whether the economy is still headed for a V-shaped recovery.

Morgan Stanley’s equity strategy team think it’s a firm “yes.”

Newly released economic data including expanding global purchasing-manager indexes, rising retail sales in the US and Europe, increasing global trade volume, and decreasing inventory levels are all pointing to an ongoing economic rebound, Morgan Stanley said in

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Kelly Evans: The start-up surge

Here’s an odd quirk of this pandemic-recession; while there’s been a surge of business closures, there’s also been a surge of new business formations. 

The Wall Street Journal highlighted this recently. Applications for employer ID numbers are up 19% so far this year, at 3.2 million as of mid-September, versus just 2.7 million at the same time last year.  

Now, some of those new “businesses” may in fact just be independent contractors and gig workers who aren’t going to employ other people. But applications by “likely employers” are also running up 12% versus the same period last year, to 1.1 million. What’s more, they’re running at the strongest pace since 2007 (chart below).  

Let’s be sure to note this won’t fully offset the loss of approximately 700,000 businesses this year, according to economist Steven Hamilton of George Washington University. Less than half of new businesses typically make it longer than

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Dick’s Sporting Goods to hire 9,000 holiday season workers, eyeing surge in online orders

By Richa Naidu

CHICAGO (Reuters) – Dick’s Sporting Goods said on Thursday it will hire up to 9,000 workers to cover the key holiday season in its stores, 1,000 more than last year, expecting a jump in online orders for curbside or in-store pickups amid the coronavirus pandemic.

Retailers have struggled this year, with mall traffic declining across the United States as stores in states like California continue to operate under severe restrictions to combat the spread of COVID-19.

The number of people visiting Dick’s outlets declined nearly 54% in May, according to data firm Placer.ai. While this has since improved, traffic is still about 9% lower than last year, the data shows.

Pennsylvania-based Dick’s expects in-store foot traffic to improve from earlier this year, with demand for products like kayaks, golf clubs and bicycles up as many people turn to non-contact sports. Still, online sales are surging: second-quarter e-commerce

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