The market is still in a correction, which means that it’s not the best time to buy; but it never hurts to keep an eye on some top performers, such as these hot drugmakers on the IBD 50. Valeant Pharmaceuticals (VRX) said at the start of the month that it will shell out $445 million in a psoriasis drug licensing deal with AstraZeneca (AZN). The drug candidate, brodalumab, may be effective, but AstraZeneca’s old partner Amgen (AMGN) nixed the
Good earnings, good estimates and a track record of strong growth are three qualities that investors want to see before buying shares. Solid fundamentals outlast market corrections and various rallies. Technology-based companies such as Facebook (FB) and Palo Alto Networks (PANW) are among the fundamentally strong businesses that investors should keep an eye on — and especially keep watch over their three-year earnings-per-share growth rates.
Looking ahead to the next bull market, Facebook (FB) and Apple (AAPL) chip supplier Avago Technologies (AVGO) are among the highly rated stocks that are well placed to soar when conditions improve. Not that they won’t fall when the market corrects. That’s why corrections are fine times to push money to the sidelines and create watch lists. It’s important to focus on newer companies like these because IBD research repeatedly shows that stocks tend