Abercrombie & Fitch highlighted as Bull of the Day, British Petroleum discussed as Bear of the Day.

From Nasdaq: 2024-10-08 08:43:00

Abercrombie & Fitch (ANF) is highlighted as the Bull of the Day, boasting a Zacks Rank #1. ANF has successfully adapted to changing fashion trends, expanding profit margins, and implementing a store-optimization strategy. Analysts are bullish on the stock, with Zacks Consensus Estimates suggesting a 63.38% earnings increase for 2025.

British Petroleum (BP) is discussed as the Bear of the Day, with a Zacks Rank #5. Still feeling the effects of the 2010 Deepwater Horizon oil spill, BP faces challenges with reputation, expenses, and divestitures. High long-term debt levels and recent underperformance make BP an oil stock to avoid.

In light of a declining U.S. rig count reported by Baker Hughes Co., investors are advised to keep an eye on leading oil and gas exploration companies like EOG Resources Inc. (EOG) and Diamondback Energy (FANG). The total U.S. rig count dropped to 585, indicating a slowdown in drilling activities, particularly in the onshore sector. The oil rig count also fell to 479, reflecting lower drilling activity compared to previous years.



Read more at Nasdaq: Abercrombie & Fitch and British Petroleum have been highlighted as Zacks Bull and Bear of the Day