energyrelated

Golden Ocean sails to top industrial gainer, energy-related stocks pile up losers’ list

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While shipping and airline stocks made the majority of the top five gainers for the week ending April 14, energy/power-related stocks dominated the decliners’ list.

The SPDR S&P 500 Trust ETF (SPY) -2.45% was in the red for the second week straight. YTD, the ETF is -7.83%. The Industrial Select Sector SPDR (XLI) -0.22% was in the red three weeks in a row. YTD, XLI is -5.55%.

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +12% each.

Golden Ocean Group (NASDAQ:GOGL) +15.59%. The Bermuda-based shipping company led the to five list, while another shipping peer Star Bulk Carriers (SBLK) was not far behind in gains. Golden Ocean gained the most on April 14 (+9.65%). The Wall Street Analysts’ Rating is Buy with an Average Price Target is $12.25. YTD, the stock has risen +46.67%.

TDCX (TDCX) +14.94%. The company, which provides outsource contact center services, rose the most on April 12 (+10.06%). The Singapore-based vendor for Facebook and Airbnb, listed on the NYSE in October 2021. However, YTD the stock is down -28.09%.

The chart below shows 6-month total return of the top five gainers and SP500TR:

Delta Air Lines (DAL) +14.09% and American Airlines (AAL) +12.09%, came in third and fourth, respectively.

Delta’s Q1 results, which beat analysts’ estimates, showed that pandemic recovery has continued. Total passenger revenue was 75% recovered from the level in Q1 of 2019 on system capacity that was 83% restored.

Meanwhile, Barclays upgraded Delta to Overweight from Equal Weight, while JPMorgan raised its price target on Delta to $69 from $57, following the company’s earnings result.

The travel and leisure sector as a whole also got a boost on April 13 when Delta disclosed that it had the highest bookings ever over a five-week period. Airline ETF JETS rose +5.3%, while airline stocks that broke higher included American Airlines (AAL). Fort Worth, Texas-based American Airlines rose throughout the week, the most on April 13 (+10.62%).

Star Bulk Carriers (SBLK) +12.03%. The Greece-based shipping company was back in the top five after two months. The company has been a star performer for the investors as it was among the top 5 industrial stocks of 2021 (+156.74%).

This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -8% each. YTD, all the stock are in the red.

Ameresco (NYSE:AMRC) -24.54%. The company fell the most on April 11 (-12.10%) after it said on April 10 that COVID-19 lockdowns in China may delay battery deliveries. The energy solutions provider, YTD has lost -29.91%.

Generac (GNRC) -15.41%. YTD, the stock of the Waukesha, Wis.-based power generation equipment maker

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