Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of approximately 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Jim typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY at Argus.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are United Therapeutics Corp (UTHR); Broadcom Inc (AVGO); Palo Alto Networks Inc (PANW); Costco Wholesale Corp (COST) and the Focus List deletions are Walmart Inc (WMT); Itron Inc. (ITRI); Micron Technology Inc. (MU); Intuitive Surgical Inc (ISRG).

Broadcom Inc. is a top-five global fabless semiconductor company with leading franchises in wired and wireless communications, enterprise data center and storage, and other end markets. The former Avago acquired Broadcom for $37 billion in 2016 and changed its name to Broadcom Inc. The company has grown via hardware acquisitions, including Agere, LSI Logic, Brocade and Emulex; and software acquisitions, including CA Inc. in November 2018 and Symantec's enterprise security business in November 2019. Broadcom completed the acquisition of VMware in December 2023.

The major market indices are sharply lower and momentum is downward at midday. The Nasdaq is taking the hardest hit. This follows the much-anticipated August Jobs report out this morning. Nonfarm payrolls came in at 142,000 for August, below expectations of 165,000. The unemployment rate edged back down to 4.2% after the surprise jump to 4.3% last month. The markets will continue to spend the day interpreting what this report signals for the health of the U.S. labor market, and how the Fed might interpret the bigger picture of the health of the economy. We at Argus forecast a 25 bps rate cut this month, followed by equal size cuts in November and December, so three cuts in total this year. We believe recent data reinforces our forecast.