On CNBC’s “Trading Nation,” Nancy Tengler of Laffer Tengler Investments recommended a long position in Costco Wholesale Corporation (NASDAQ: COST) because it is the one-stop-shop for Memorial Day fun.
She likes the earnings report, especially the growth in net sales and the e-commerce segment. Average transaction size and membership sales also increased, and inflation was the only big warning for the story, said Tengler.
The stock traded lower after earnings on margin concerns. Tengler wouldn’t be in a hurry to buy Costco, but she finds the valuation attractive and she expects the stock to benefit from people going out and enjoying summer activities.
Craig Johnson of Piper Sandler is a buyer of Molson Coors Beverage Co (NYSE: TAP). He said the stock is reversing a multiyear downtrend going back to 2016 and it looks like a big bottom is getting set. A close above $60 technically suggests another leg higher, he said. Piper Sandler added the stock to its technical opportunities portfolio.
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