Major averages closed roughly flat yesterday on near breakeven volume to Tuesday's volume. The market has had a spate of up days so some consolidation is healthy here to allow their respective 10-day moving averages to catch up. Meanwhile, the number of actionable stocks continues to grow as noted by the number of pocket pivots cited on Wednesday.
Various pocket pivots:
Jazz Pharmaceuticals (JAZZ) - Drug manufacturer - pretax margin 55.6%, ROE 39.6%, institutional sponsorship grew last 5 quarters, group rank 15.
Criteo S.A. (CRTO) - Enables e-commerce companies to increase post-click sales - earnings and sales are soaring, group rank 33.
Pacira Pharmaceuticals (PCRX) - Develops drugs using proprietary drug delivery technology - earnings and sales are soaring, group rank 1.
Medivation (MDVN) - Had another pocket pivot on a strong earnings report. We mentioned MDVN on 2/21.
A few retailers such as KSS, TJX, and ROST also had pocket pivots but fundamentals are not leadership quality.
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