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Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

How Millett Grew Steel Dynamics From A Three Employee Business

STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.

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IntroductionProviding instant value to very many people online has never been easier than it is today. This has also been compounded by social media platforms which have literally introduced us to new kingdoms almost overnight. The result, many millionaires being made every day. You have probably heard of the terms ‘new money’, ‘new rich’, ‘digital economy’ etc. As an example, when I really started understanding the power of Instagram, I was blown away. In 5 minutes, just by putting up 1 engaging post with entrepreneurial speak and targeted hashtags, I was able to converse instantly with other entrepreneurs in 3 different continents!But how do you and I become self-sufficient in starting a profitable online business in the first place?We must first understand the requirements and then get the right education. Self-sufficient to me means my skills for being profitable online are future-proof. Think about all-weather paint… or an all-weather road. Plan to play a big game. It is also necessary to think expansively as Robert Kiyosaki puts it.That said, here are 7 steps that I discovered to ensure sustainable business success online. Excited?! OK. Let us get into it.7 Steps To Starting A Profitable Online Business1. Passion & ClarityWe must be driven by passion. We need to know WHY we want to start the online business in the first place. As for me, I am extremely passionate about freedom and choice. I really needed a way to make money without having to report to a job that required me to work inside a brain numbing routine. I was in between boarding schools for 10 years when I was growing up and that was enough for me to find out I didn’t do routines very well. Then I started my work life and realised how much control I DID NOT have about what I wanted to DO. Become very clear about what is driving you towards starting a business online.2. GoalsThe online space can compare to a noisy street marketplace; lots of people, all wanting to be seen and heard.Define your goals clearly i.e. passive income, time freedom, geographical freedom or even one of my personal favourites, financial freedom. Then go in and start creating a business with those clear goals in mind.3. Re – Think What You Know About Being OnlineBeing profitable online can create a lot of freedom but it’s not an instant success. There’s a lot of learning and re-skilling that needs to happen. For me, this was a lot more like learning a new ‘language’. I knew the Internet very casually. It was a place to spend my free time browsing music videos, posting random Facebook posts and watching news that I did not need to know about. I had to change my beliefs and the mindset that was driving whatever I thought I knew about being online. Every time I saw an ad I thought it was a scam. Sure enough, there are a lot of scams out there but we live in a society where ‘good’ and ‘bad’ must exist in the same space. The mindset that is driving you to the online space must be one that sees the vast opportunity that exists on that platform. A chance for you to create a life that up to this point was only a dream.4. Focus On Providing ValuePeople buy from people they think they know, like and trust. As much as it is tempting to think that people are online waiting to be told what they need or don’t need, most people are online looking to solve real problems, and sometimes very painful ones.If you can understand this fact, then your focus must be genuine interest in wanting to help people, a lot of people. This focus becomes your guide for providing high-quality solutions that will fix their problems and reduce or eliminate their ‘pain’.5. Master The Art Of Marketing With All Your HeartFind a way to reach as many people as you can who have big problems that need to be fixed with your proven high-quality product or service on the Internet. With so many options available today, creativity is key. Pick 2 marketing strategies, for example, Facebook and email marketing that you have the patience to run with for the long haul. Don’t stop until you have mastered these 2 strategies.Think about Amazon today. They started with selling books. In fact, selling books is formally their core business! Think about that for a minute. That said, today Amazon sells everything under the sun. Why? Because today they are in the business of fixing peoples’ everyday problems using the Internet.6. Power Of BeliefHave the belief that it’s possible for you. Before I started online, all I had ever sold was personal electronics I wanted to dispose of using the ebays and gumtrees. However, I had heard about people making millions of dollars online… But then came the day I was contemplating my first online business. I had to face my own self-doubt. I needed to answer the following question very honestly:Eddie, “DO YOU ACTUALLY BELIEVE YOU CAN MAKE MONEY ONLINE?”If you are reading this today, this will be without a doubt the most important question you will ever ask yourself as an online entrepreneur.It is impossible to achieve before we believe. When the hard times visit, this is the only one thing that will push this ‘unwanted’ guest out the front door! I had to believe I could make it online and that it would change how I lived, worked and played period.7. Mentorship and Master Mind GroupsYou have heard the saying, “we become what we think about all day”. Thoughts make us act in a certain way, which then brings a certain type of results in our lives. To be successful we must think in a certain way and act in a certain way so that we can get the results we want. With that in mind, we must spend a lot of time with people who want the same results and those who have already created these results.The people who have already created the results then become your mentors. If I was going to create a lifestyle of freedom and choice using an online business, I needed to spend time with people who had already created one. I also needed to have mentors as part of this process. So that is exactly what I did. It really is that simple.Final ThoughtIn the end, all we really want is a better more fulfilling life experience, right? Money is good, very good indeed because it creates choice. Oh, how beautiful that word is! choice. With Money being a non-issue, we can freely choose any experience we want and go for it. When money is not an issue, I can choose to have a bucket of chicken at a local KFC (my personal favourite delicacy) or have a plate of honey glazed chicken dinner served at The Hilton, where service is absolutely top notch. In both cases, I get to have my favourite food, chicken but the experience is Worlds apart right?So go ahead & take action every day and make the decision to keep going until you get there. It is impossible to fail if giving up is not on your cards.