EA - Starbucks Meta Exxon among many stocks dropping off BofA's Alpha Surprise screen
The number of stocks dropped from BofA's quantmental Alpha Surprise Portfolio dwarfed the number of new entrants in April. The portfolio return was -6.8% for the month, outperforming the S&P 500 (SP500) (SPY), -8.8%, but trailing the equal weight S&P 500 (RSP), -6.4% for the month. The portfolio is most overweight Communication Services (XLC), Energy (XLE) and Utilities (XLU). It is most underweight Info Tech (XLK), Materials (XLB) and Healthcare (XLV). Facebook parent Meta Platforms (NASDAQ:FB) fell off the screen after 24 months. Only Alphabet (GOOG) (GOOGL) at 55 months and T-Mobile (TMUS), 26 months, have longer tenures in the portfolio. The portfolio deletions were: AmerisourceBergen (ABC) Amgen (AMGN) APA (APA) BlackRock (BLK) C.H. Robinson (CHRW) CenterPoint Energy (CNP) Chevron (CVX) Devon Energy (DVN) Domino's (DPZ) Ecolab (ECL) Exxon Mobil (NYSE:XOM) Meta (FB) Fiserv (FISV) Fleetcor (FLT) Intercontinental Exchange (ICE) KeyCorp (KEY) Keysight Technologies (KEYS) Kroger (KR) Lam Research (LRCX)
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Starbucks, Meta, Exxon among many stocks dropping off BofA's Alpha Surprise screen