Morningstar

Weekly Market Wrap: Stocks Gain 1.7% as Consumer Cyclicals Rise and Utilities Fall

SanDisk stock jumped, while First Solar slipped 13%.

The logo of First Solar, Inc. is displayed on a smartphone screen.
Cheng Xin via Getty
Securities in This Article
Regions Financial Corp
(RF)
Melco Resorts and Entertainment Ltd ADR
(MLCO)
First Solar Inc
(FSLR)
CoStar Group Inc
(CSGP)
SanDisk Corp Ordinary Shares
(SNDK)

Stock Market Update for the Trading Week Ended Jan. 9

  • The Morningstar US Market Index rose 1.7%.
  • The best-performing sectors were consumer cyclicals, up 5.66%, and basic materials, up 5.48%.
  • The worst-performing sectors were utilities, down 1.39%, and technology, up 0.13%.
  • Large-cap stocks gained 1.35%, mid-cap stocks rose 2.32%, and small-cap stocks rose 3.65%.
  • Growth stocks gained 2.21%, blend stocks gained 2.82%, and value stocks rose 1.91%.
  • The S&P 500 gained 1.57% and the Nasdaq rose 1.88%.
  • Of the 836 US-listed companies covered by Morningstar, 589, or 70%, were up, one was unchanged, and 246, or 29%, were down.

Bonds and Commodities

  • Yields on 10-year US Treasury notes fell to 4.18% from 4.19%.
  • Yields on two-year US Treasury notes rose to 3.54% from 3.47%.
  • West Texas Intermediate crude prices rose 2.58% to $58.81 per barrel.
  • Comex Gold prices rose 3.59% to $4,473.00.

Top Stock Gainers

SanDisk SNDK, Bloom Energy BE, Lam Research LRCX, Rocket Companies RKT, and Hawaiian Electric Industries HE were the top performers among US-listed stocks covered by Morningstar analysts.

  • SanDisk topped the list, rising 37.12%, and it’s up 153.67% over the past three months. The stock closed the week at $377.41, trading at a 148% premium to its fair value estimate of $135.00 per share.
  • Bloom Energy was the second-best performer, with a weekly return of 35.85%. The 1-star stock has gained 39.12% over the last three months. Shares in this no-moat company are up 399.75% over the past 12 months. Bloom Energy stock wrapped up the week at $134.07, trading at a 190% premium to its fair value estimate of $42.00 per share.
  • Lam ranked third for the week, with its stock rising 17.99%. The 1-star, wide-moat stock has gained 41.17% over the last three months and gained 162.12% over the past 12 months. Lam stock closed the week at $218.36, trading at a 75% premium to its fair value estimate of $115.00 per share.
  • The fourth-best-performing stock was narrow-moat Rocket Companies, which gained 17.15%. The 2-star stock has gained 30.95% over the last three months and is up 110.91% over the past 12 months. Rocket Companies finished the week at $23.29, trading at a 33% premium to its fair value estimate of $16.00 per share.
  • Hawaiian Electric stock climbed 16.94% in the latest week. This no-moat company has seen an increase of 23.06% over the last three months and 53.31% over the past 12 months. The 2-star stock ended the week at $14.77, a 30% premium to its fair value estimate of $10.50 per share.

Top Stock Losers

First Solar FSLR, Acuity AYI, Melco Resorts & Entertainment MLCO, Millicom International Cellular TIGO, and CoStar Group CSGP did the worst among US-listed stocks covered by Morningstar analysts.

  • First Solar was the worst-performing stock of the week, falling 13.01%. This 3-star, no-moat company has risen 6.44% over the past three months and 28.84% over the past 12. The stock ended the week at $238.66, trading at a 13% premium to its fair value estimate of $217.00 per share.
  • Acuity took the second spot, with a 12.8% price decline this week. The narrow-moat company, rated 4 stars, has fallen 10.60% over the past three months but is up 2.97% over the past 12. Closing at $325.55, the stock trades at a 15% discount to its fair value estimate of $378.00 per share.
  • Melco came in third, experiencing a 11.45% drop this week. This 4-star, narrow-moat company has fallen 17.90% over the past three months but rose 23.08% over the past 12 months. The stock finished the week at $6.65, trading at a 31% discount to its fair value estimate of $10.00 per share.
  • Next up is Millicom, which saw its stock price fall by 11.32% this week. The narrow-moat company with a 3-star rating has risen 10.37% over the past three months and rose 126.22% over the past 12 months. At $50.15, the stock trades near its fair value estimate of $52.00 per share.
  • CoStar rounds out the list with a 10.96% decline this week. This 4-star, wide-moat company has fallen 22.33% over the past three months and is down 13.99% over the past 12 months. The stock closed the week at $58.49, trading at a 24% discount to to its fair value estimate of $81.00 per share.

Highlights of This Week’s Market and Investing Events

The author or authors own shares in one or more securities mentioned in this article. Find out about Morningstar’s editorial policies.

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