8 Retail Stocks Flying Higher After Hurricane Irene
Home Depot (NYSE:HD) and Lowe’s (NYSE:LOW) are trading higher today as investors snap of shares of retailers (NYSE:XRT) expected to report solid gains after Hurricane Irene. U.S. residents on the eastern seaboard stormed stores to stock up on necessities (NYSE:XLP) such as water, home improvement products, and food.
General store Walmart (NYSE:WMT) and pharmacies CVS (NYSE:CVS) and Walgreens (NYSE:WAG) also benefitted from a last minute rush for household items, prescription drugs, and first aid products. Although office supply stores Staples (NASDAQ:SPLS), Office Depot (NYSE:ODP) and Office Max (NYSE:OMX) are trading higher today, be careful as they may pullback if these outlets didn’t benefit as much as the other obvious beneficiaries of hurricane preparation.
Hurricane season isn’t over. If you’re looking for more stock ideas, don’t miss 3 Winning Stock Picks for Hurricane Season – with James Altucher.