The state of office demand in the U.S., particularly with a focus on New York City, is a pivotal factor in the performance of real estate stocks. SL Green has seen a significant increase of 12% in the past month and a notable 20% growth in the past three months. However, the stock has experienced an 11% drop since reaching its peak in July. Vornado, on the other hand, has shown a strong performance with a 16.6% increase in the past month and a 24% growth in the past three months. Despite this positive trend, the stock is still 7% below its December high. CBRE has surged by 22% in the past month, but it has also faced a 7% decline from its peak on July 31st. BXP has seen a 12% growth in the past month and an 11% increase in the past three months, but it is currently trading 8.7% below its December high.
Healthcare and Apparel Stocks
Eli Lilly has shown a remarkable 32.5% increase in 2024, but the stock is currently trading 20% below its July high. The company is set to report on Thursday morning, presenting a critical moment for investors. Under Armour is also on the radar as it prepares to release its earnings before the bell. Class C shares of Under Armour have experienced a 4.4% decrease in the past three months, with the stock now trading 30% below its December high. On the other hand, Capri Holdings, the parent company of luxury brands like Versace, Jimmy Choo, and Michael Kors, is set to report after the bell. The stock has declined by 13.7% in the past three months and is currently trading 41.5% below its peak from almost a year ago.
Retail Sector Woes
Etsy hit a four-year low on Wednesday, signaling a challenging period for the e-commerce platform. The stock is now trading 40% below its December high and has experienced an 18% decline in just one week. Ulta Beauty also faced a significant setback as it hit a 37-month low on Wednesday. The stock is currently 44% below its March high and has dropped by 12% in the past week. Dollar Tree joined the list of struggling retail stocks as it hit a 34-month low on Wednesday, further highlighting the challenges faced by the retail sector.
The recent performances of these stocks reflect the broader trends and challenges within various sectors of the market. Investors should carefully monitor the developments in office demand, healthcare, apparel, and retail to make informed decisions about their investments.