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A Half-Dozen Charts Make Medical Equipment Group One To Watch

A number of stocks in the medical equipment industry group are tracing bullish patterns, making the group one to watch closely. The group itself has been a market leader, ranked in the top 30 of 197 IBD groups for several weeks. Investors will find in it an attractive mix of stocks in buy range or still forming bases. Cantel Medical ( CMN ) is forming a base-on-base pattern with a 72.79 buy point. Shares have behaved well, making relatively small price fluctuations each day as they form the base. That’s considered a strong foundation, and suggests that the stock won’t have problems forming the rest of the pattern. Despite softening earnings growth (up 17% to 42 cents a share in the latest quarter), the maker of equipment to prevent and control infections in hospitals and other medical facilities still has one of the highest EPS Ratings of 32 companies in the group. It gets a 95 EPS Rating out of a maximum 99 from IBD Stock Checkup . Intuitive Surgical ( ISRG ) is rising from a pullback to the 10-week moving average. That makes it the first follow-on buy area for the stock since it broke out of a base in March. (In a follow-on area, investors add a smaller number of shares than the number they acquired on a breakout.) With strong Relative Strength and Accumulation/Distribution Ratings, the stock has a better chance to keep rising. The main risk for Intuitive Surgical and any other stock is the market, which can quickly obliterate even the best charts. How do you quickly check Intuitive’s proprietary IBD rankings? Go to Stock Checkup. Cynosure ( CYNO ) also is finding support at the 10-week average, but the stock is barely rising from that level. The company’s noninvasive fat-reduction system is driving growth. Masimo ( MASI ) broke out of a saucer base May 5 and is still in buy range from the 46.10 buy point. The breakout was nearly flawless: Shares surged 8% in nearly five times average volume as the company’s earnings topped estimates. Although shares closed below the buy point on the day of the breakout, it didn’t stop Masimo from advancing. Masimo makes equipment to monitor body functions, and has developed technology that can test blood without having to draw it by needle. Idexx Laboratories ( IDXX ) is at new highs. A long-term chart shows the stock is in buy range from the 84.35 buy point of a base more than a year in length. Another entry could be identified at 78.59. The maker of veterinary diagnostic equipment went to new highs after it reported results April 29. Idexx raised its full-year sales and profit guidance, citing success with new products and its strategies. Idexx has a lower EPS Rating than many other companies in the group, yet the market has cheered its outlook. Nevro ( NVRO ) is one of the newest stocks in the group, having gone public in November 2014. Shares have made quite a climb from the IPO price of 18 a share, and now are near a potential buy point at 70, from a cup-with-handle base. As a startup, Nevro has not made a profit yet and analysts expect losses this year and next. Investors seem to be drawn to the company’s fast sales growth, including a 114% spike in 2015 sales to $70 million. Redwood City, Calif.-based Nevro specializes in spinal cord stimulation systems to treat pain.

Google Waze Takes On Uber With SF Bay Area Carpooling App

Alphabet ( GOOGL )-owned Waze is taking on ride-booking app Uber with a new carpool service in Silicon Valley to “reduce cars on the road and greenify your daily commute,” less than two years after Uber launched its own car-sharing function. Waze Carpool is in beta testing with specific Bay Area employers after a soft launch in Israel last July. The app matches riders with drivers based on their home and work addresses, and like Uber, it arranges payment ahead of time. Uber launched uberPOOL in September 2014 and has since expanded that service to 11 cities globally, including New York, Los Angeles, San Francisco, Beijing and Shanghai. Uber estimates 100,000 people use uberPOOL every week. But Waze downloads significantly outnumber Uber downloads, according to Google Play, which put the estimated installations at 100,000-500,000, and 50,000-100,000, respectively. Waze is a popular traffic-navigation app which smartphone owners can use to try to avoid traffic jams and find the fastest routes, though it’s sparked controversy by spurring increased traffic in some residential areas not used to handling many cars. Neither Uber nor Google responded to a request for comment Monday. Waze Carpool was unveiled Monday in a YouTube video from Waze Labs. The video emphasizes the cost, time and ecological benefits of carpooling. “Just by pitching in for gas, riders get a comfortable and affordable ride,” Google Waze says. “And drivers cover their gas costs just by helping someone on the way.” Drivers must be 21, but riders can be 18. The pilot program was developed to meet the needs of congested Silicon Valley, Google Waze says in its release. Rides are only available during commuting hours. Google and parent Alphabet are based in the central Silicon Valley city of Mountain View, Calif. “We’re focused on reducing traffic when it’s at its worst — which is rush hour — so Carpool is restricted to morning and evening commute hours,” the release said, with Waze suggesting  users request a ride a day in advance. In afternoon trading on the stock market today , Google stock was up 1%, near 732, but shares are down 6% this year.

Five Top Picks In The Internet Sector With Strongest Fundamentals

The companies with the best fundamentals among large-cap Internet stocks are Facebook ( FB ), Amazon.com ( AMZN ), Netflix ( NFLX ), Alphabet ( GOOGL ) and Priceline ( PCLN ), says RBC Capital Markets. Internet trends for these top five in their respective sectors — online advertising, retail and travel — remain very consistent, with strong revenue growth year over year, RBC said in a research report. Online advertising seems to be flowing en mass to Google-owner Alphabet and Facebook, with the two now accounting for close to 55% of global online advertising revenue, up from 50% three years ago, says the report from RBC analyst Mark Mahaney. And Amazon continues to show dramatically greater-than-average growth in the online retail sector. “We believe online retail demand trends have remained solid, particularly highlighted by Amazon’s retail sales acceleration,” Mahaney wrote. But, he said, “there’s little ad oxygen for the likes of Yahoo ( YHOO ).” Online travel remains a duopoly of Priceline and Expedia ( EXPE ), while it’s increasingly hard to see anyone catching up to Netflix in terms of video-streaming subscribers, he wrote. Though shares of Netflix have continued to decline following Q1’s weak international sub guidance and domestic price change worries, “We view the fundamental global subscriber growth story as intact,” Mahaney said. Mahaney has a price target on Netflix of 140. Netflix stock was trading near 89, up nearly 2%, in afternoon trading in the stock market today . The stock is down 20% since reporting first-quarter earnings on April 18, and it’s on the IBD Swing Trader list as a potential short-sale opportunity. He has a price target on Priceline of 1,600, as growth and profitability trends remain intact. Priceline stock was up a fraction near 1,279 Monday afternoon. Priceline is down 6% since reporting Q1 earnings on May 4. On Alphabet, Mahaney’s price target is 1,000, as it remains one of the best portfolio plays on the biggest Internet trends. Alphabet stock was near 727, up a fraction, Monday afternoon. The stock is down 7% since reporting Q1 earnings on April 21. On Facebook, the price target is 165, with Mahaney saying the social media company is firing on all cylinders. Facebook stock was near 118, down 1%, but it’s up 8% since reporting Q1 earnings on April 27. The price target on Amazon is 800. Amazon stock was flat, near 709. Still, it’s up 16% since reporting Q1 earnings on April 28. It also is on Swing Trader, but as a long possibility.