It is not always easy to tell which stocks are outperforming the S&P 500. But investors can find these market leaders whenever they want by using a stock screener.
The IBD MarketSmith blue dot screen shows stocks whose relative strength lines are at 52-week highs and near buy points. The relative strength line compares the performance of a stock to the S&P 500.
Here are some of the latest stocks making it to this elite screen. Some are in bases while others are on watch for entry points.
New Relic is outperforming the S&P 500, and the stock broke out Wednesday, rallying past an entry at 80.98.
Shares formed a base-on-base pattern. The 96 Composite and 93 Relative Strength Ratings indicate a strong technical profile. The 81 EPS Rating is also adequate.
The Wall Street Journal reported Wednesday that private-equity firms Francisco Partners and TPG are teaming up to acquire the software company in a $5 billion-plus bid.
San Francisco's New Relic turned profitable two quarters ago. In fiscal Q3 ending in December, sales grew 18% to $239.8 million while it posted 32 cents per share profit. The stock is also in a highly ranked industry group.
U.S. Foods may not seem like a growth stock to watch. Yet its impressive outperformance compared to the S&P 500 puts the spotlight on this food wholesaler. The Rosemont, Ill.-based company markets fresh, frozen and dried foods to restaurants.
Shares broke out of a cup with handle at 38.91 ahead of earnings on May 11. Volume surged as the stock rose again after strong results. Sales grew 10% to $8.5 billion while earnings per share of 50 cents grew 39%. The stock leads the wholesale foods group.
Market Leaders Finds Irish Airline With Earnings Due
One of the top market leaders, Ryanair broke out of a flat base at 99.44 ahead of earnings next Monday.
Volume picked up this week.
On Wednesday, trading volume hit the highest level since shares started building the base. Strong ratings support the stock.
The Composite Rating is 97, while the Relative Strength Rating is 92. Fiscal third-quarter sales grew 48% to $2.4 billion while earnings of 95 cents per share showed the company turning around to profitability.
Load factor — the percentage of seats sold — improved to 93% from 84% a year ago. Based in Ireland, Ryanair operates low-fare short-haul flights in Europe and North Africa.
Computer gaming hardware maker Corsair Gaming also broke out from a cup with handle, this one at 18.64. Volume surged as it broke out on earnings last week. Sales actually declined 7% to $354 million but earnings of 11 cents per share showed profitability for the first time in seven quarters.
CRSR is in a leading industrial group as well and takes a spot on the stock screener for high growth. The Milpitas, Calif. company makes headsets, monitors, PC build kits and accessories for video game play.
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