I Know First Review: April 2nd 2014

April 8, 2014

The stocks selected here are the top performing stocks from I Know First: Daily Market Forecast’s March 2nd 2014 Top 5 Stocks and S&P 500 forecast titled Stock Market Prediction Based On Algorithms: 17.23% Gain In 30 Days. The I Know First Average return was 9.19% versus the S&P 500’s return of 1.69% over the same time period.

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Please note-for trading decisions use the most recent forecast. Get today’s forecast and Top stock picks.

AK Steel Holding Corporation (AKS) had a bullish signal of 10.36 and a predictability of 0.1. Over the forecasted time horizon AKS returned 17.23%. This stock had the strongest signal from this forecast partially due to the fact that this company has seen a nice streak of beating earnings estimates. For instance this past quarter, AKS aimed to deliver earnings of 5 cents per share, but actually saw earnings of 9 cents per share, representing an 80.0% positive surprise. Revenue was reported at $1.46 billion versus the average analysts estimate of $1.4 billion.
Read our detailed assessment: The Steel Industry’s Imminent Correction

On the forecast date, Advanced Micro Devices Inc. (AMD) had a long signal of 8.10 and a predictability of 0.13 for the 1-month time horizon. The stock returned 9.43% in accordance with the algorithms forecast. Advanced Micro Devices, announced a multi-year agreement with Mentor Graphics Corporation (MENT) to increase availability of open-source embedded Linux development for heterogeneous and multi-core processors from AMD. The company is committed to providing embedded developers with a more manageable and focused open source framework. This agreement will provide embedded developers with more supported processor options, robust development tools, and greater speed in open platform development.
Read our detailed assessment: AMD: A Fundamentally Solid Company With An Exaggerated Negative Outlook

Nokia (NOK) had a long signal of 2.41 and a predictability of 0.19. In accordance with the algorithm the company returned 0.66% over this time horizon. By successfully meeting turnaround goals, Nokia has more than doubled over the past 52 weeks. The stock jumped Monday on news the company will be the preferred provider of smartphones for CaixaBank, a leading financial group in the Spanish market both in banking and insurance. The company chose Nokia as the company’s preferred provider of employee smartphones, which will include the purchase of roughly 30,000 Nokia Lumia devices. Since I Know First’s initial buy signal for NOK on May 24th 2014, the share value has grown 111.94% (as of April 3rd 2014).
Read our detailed assessment: Nokia: Refocused And Resurgent (Seeking Alpha Editors Pick)

Sify Technologies Limited (SIFY) had a long signal of 1.35 and a predictability of 0.08. The stock grew 9.6% as predicted by the algorithm. SIFY is an integrated Internet, network and electronic commerce services companies in India. The company’s services enable its business and consumers to communicate, transmit and share information, access online content and conduct business remotely using its private data network or the Internet.

Orbotech Ltd. (ORBK) announced that the Company’s Board of Directors approved the allocation of $30 million for the repurchase of the company’s outstanding ordinary shares. ORBK had a signal of 0.88 and predictability of 0.23 for the 1-month time horizon. As the algorithm predicted, ORBK returned 9.02%.

Selected stocks mentioned from this forecast are not an endorsement for making trading decisions with these assets currently. Please make trading decisions only with the most recent forecast.

Business Disclosure: I Know First Research is the analytic branch of I Know First, a financial startup company that specializes in quantitatively predicting the stock market. This article was written by Joshua Martin one of our interns. We did not receive compensation for this article, and we have no business relationship with any company whose stock is mentioned in this article.