Top Stock Picks for Week of September 13, 2021

Best Buy Company Inc. BBY is a multinational specialty retailer of consumer electronics, home office products, entertainment software, communication and more. Best Buy’s shares have increased in the past six months. Its focus on developing omni-channel capabilities, supply chain and cost-containment efforts bode well. The company delivered stellar second-quarter fiscal 2022 results with both the top and the bottom line increasing year over year and surpassing the Zacks Consensus Estimate. The quarter gained from sales growth at the Domestic and International units. Demand for technology products and services was strong. Solid consumer spending ability backed by government stimulus and high savings levels is bolstering demand. Strong omni-channel efforts aided growth in the company’s digital sales, in the domestic channel.  It raised comparable sales view for fiscal 2022 on solid customer demand and momentum in the business. The company is also on track with programs like Total Tech Support.Best Buy looks quite comfortable from liquidity point of view.

BJ's Wholesale Club Holdings, Inc. BJ has emerged as one of the preferred destinations for shoppers when it comes to essentials and other items.Shares of BJ's Wholesale Club have risen and outpaced the industry in the past three months. The stock has been gaining following the company’s impressive performance that continued in second-quarter fiscal 2021 as well. The company posted better-than-expected results, wherein both the top and the bottom lines grew year over year. The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. Comparable sales rose, while digitally-enabled sales continued with its decent run. Solid execution of strategies, outstanding membership results, gain in market share and elevated consumer spending trends contributed to the overall performance. The company indicated that its current view for the back half sales trend has improved. Evidently, the company’s focus on simplifying assortments, expanding into high-demand categories, enhancing omni-channel capabilities and providing value to customers bodes well.

Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. 

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.