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Fourteen Stocks that Could Gain from Dollar's Decline
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Director of Market Data & Content Services
The Dollar Index [US@DX
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] is up for a second day in a row on Treasury Secretary Geithner's comments that the administration is committed to a stronger dollar. Despite the small gain, the US Dollar is now down over 15% since March relative to the basket of foreign currencies that make up the index and many traders are betting it will continue its slide.
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Yesterday, China said that it was considering letting the Yuan appreciate against the Dollar. In other words that means the dollar will decline against yet another currency. Based on the longer term trend, we decided to do a screen to see which stocks might benefit from a weaker dollar.
Starting with the S&P 500, we looked for companies that have more than 50% of their revenue outside of the US. When sales are translated back into dollars for quarterly and annual financials, the foreign numbers will be worth more dollars. Next, we looked for the companies that are expected to have strong growth next year, with EPS growth estimates of 20% or more. Finally, we wanted to make sure that the opportunity was not yet priced into the stocks so we narrowed the list down to the companies that are trading at a 10% or greater discount to the current consensus analysts price estimates.
Continue onto the next page to see the resulting 14 stocks that could benefit from a further decline in the Dollar.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
