Visa shares hit a record high on Friday and joined IBD’s Big Cap 20 list, part of a broader update that added 47 stocks to the firm’s featured screens. Cheesecake Factory, BP, Marathon Petroleum and shipping company Matson were among the other names drawing attention. IBD updated its selections at 5:50 p.m. ET on Oct. 16; the unusually large number of additions was mainly driven by a change to the IBD 50’s screening criteria.
Visa extends its rally with a 99 Composite Rating
Visa has closed higher in 11 of the past 12 trading sessions, climbing from $356.75 on Oct. 2 to $402.61 on Friday. The shares broke out of a cup-with-handle pattern on Oct. 9 and have risen in six of the past seven sessions.
The company has an IBD Composite Rating of 99, the highest score in the system. The rating places Visa in the top 1% of stocks across measures that include both fundamental and technical performance.
IBD’s stock lists assess factors such as relative price strength and earnings and sales growth. Inclusion is not, by itself, a recommendation to buy a stock. Visa joined the Big Cap 20 alongside Marathon Petroleum, Valero Energy and Cintas. Fortinet, NetApp, Pandora Media and Twilio were removed from that list.
IBD 50 additions span a range of industries
The IBD 50 is a watchlist focused on growth stocks with strong price performance and fundamentals. The additions on Oct. 16 were Abercrombie & Fitch (ANF), Apache (APA), Cheesecake Factory (CAKE), CareDx (CDNA), CrowdStrike (CRWD), DHT Holdings (DHT), HF Sinclair (DINO), Ero Copper (ERO), Eton Pharmaceuticals (ETON), Figs (FIGS), Five9 (FIVN), Frontline (FRO), Fortinet (FTNT), Haemonetics (HAE), Hewlett Packard Enterprise (HPE), Illumina (ILMN), Dorian LPG (LPG), Matson (MATX), Mesa Laboratories (MLAB), Marathon Petroleum (MPC), Cloudflare (NET), Insight Enterprises (NSIT), Nutex Health (NUTX), Okta (OKTA), Everpure (P), PBF Energy (PBF), Phillips 66 (PSX), Qualys (QLYS), Red Violet (RDVT), RingCentral (RNG), Suncor Energy (SU), Atlassian (TEAM), Tenneco (TEN), Twilio (TWLO), Valero Energy (VLO), WisdomTree (WT), XP (XP) and Zebra Technologies (ZBRA).
Removed from the IBD 50 were Aura Minerals (AUGO), CAI International (CAI), Corpay (CPAY), Salesforce.com (CRM), Commvault Systems (CVLT), Dexcom (DXCM), ELF Beauty (ELF), EOG Resources (EOG), Elastic (ESTC), Exelixis (EXEL), Hinge Health (HNGE), Samsara (IOT), Kiniksa Pharmaceuticals (KNSA), Eli Lilly (LLY), Magnite (MGNI), Microsoft (MSFT), Navan (NAVN), Natera (NTRA), Netskope (NTSK), BeOne Medicines (ONC), Oscar Health (OSCR), Paysign (PAYS), Palantir Technologies (PLTR), Rubrik (RBRK), Remitly Global (RELY), Ross Stores (ROST), Southern Copper (SCCO), Shopify (SHOP), Skyward Specialty Insurance (SKWD), Slide Insurance Holdings (SLDE), Scorpio Tankers (STNG), BBB Foods (TBBB), TG Therapeutics (TGTX), Urban Outfitters (URBN), Veeva Systems (VEEV) and Zeta Global (ZETA).
BP and energy stocks join Stock Spotlight
IBD’s Stock Spotlight focuses on companies with strong fundamentals that are nearing technical breakout points. Apache, BP, Equinor, Remitly Global and Shopify were added, while Frontline, Lifestance Health Group, Palantir Technologies, Torm and Valero Energy were removed.
BP rose 3.7% on Friday to close at $50.21, its highest closing price since mid-2014. It was the only new Stock Spotlight name in this update for which a specific daily share move and closing price were reported.
Sector Leaders unchanged; IPO Leaders lose Bending Spoons
There were no additions to or removals from IBD Sector Leaders, which covers 33 industries and considers recent earnings and sales growth alongside share-price performance.
No companies were added to IPO Leaders, while Bending Spoons (BSP) was removed. The list tracks relatively recent public companies with earnings growth and technical characteristics.
IBD regularly updates its IBD 50, Sector Leaders, Big Cap 20, IPO Leaders and Stock Spotlight screens. The Oct. 16 changes put companies including Visa, Marathon Petroleum, BP and Matson in focus after record prices, strong gains or inclusion on multiple lists. The 47 additions should not be directly compared with prior updates, however, because the IBD 50 screening criteria were changed.