The Industrial Select Sector SPDR Fund ETF (NYSEARCA:XLI) closed 1.19% lower this week. On a year-to-date basis, XLI has been slightly ahead of the broader markets, gaining 16.83% compared to the S&P500’s 11.41% return.
Weekly top 5 gainers
- Generac (NYSE:GNRC) gained the most this week with shares +2.66%. Seeking Alpha analyst, The Alpha Sieve issued a Buy rating for the stock this week, expecting the company’s EBITDA margin to expand by 120bps over two years, supported by strong pricing, operating leverage, supply chain improvements, and high-margin recurring revenue.
- Northrop Grumman (NYSE:NOC) added +2.29% this week after a report said that it was in the running for a U.S. Navy contract to build next-generation stealth fighter jets.
- GE Vernova (NYSE:GEV) was +1.61%.
- EMCOR Group (NYSE:EME) rose 1.43% after Goldman Sachs upgraded its rating on the firm to Neutral from Sell, citing stronger-than-expected data center growth offsetting weakness in non-residential construction.
- United Airlines (NASDAQ:UAL) ended +1.41% despite a Sell recommendation by Seeking Alpha analyst Hawkinvest over “technical concerns, recession risks, and unresolved labor negotiations”.
Weekly top 5 losers
- Stanley Black & Decker (NYSE:SWK) lost 14.57% ending up as the biggest loser this week.
- Ingersoll Rand (NYSE:IR) closed the week 9.35% lower.
- Expeditors International of Washington (NYSE:EXPD) was -8.41% this week.
- FedEx (NYSE:FDX) ended -8.17% after JPMorgan downgraded it to Neutral from Overweight due to significant headwinds mainly relating to the difficult industrial backdrop and increasing competition.
- A. O. Smith (NYSE:AOS) was -7.63%.
ETFs to tab the industrial sector include: (XLI), (VIS), (XAR), (EXI), (PSCI), (PRN), (FIDU).