Plantronics Inc
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Information Technology : Communications Equipment | Small Cap Value
Company profile

Plantronics, Inc. (Plantronics) is a global designer, manufacturer and marketer of integrated communications and collaboration solutions that span headsets, Open session initiation protocol (SIP) desktop phones, audio and video conferencing, cloud management and analytics software solutions, and services. The Company’s product categories are enterprise headsets, which includes corded and cordless communication headsets; voice, video, and content sharing solutions, which includes Open SIP desktop phones, conference room phones, and video endpoints, including cameras, speakers, and microphones. The Company’s solutions are designed to work in a wide range of Unified Communications and Collaboration (UC&C), Unified Communication as a Service (UCaaS), and Video as a Service (VaaS) environments.

Price
Delayed
$20.30
Day's Change
1.31 (6.90%)
Bid
--
Ask
--
B/A Size
--
Day's High
23.65
Day's Low
19.45
Volume
(Heavy Day)

Today's volume of 2,887,741 shares is on pace to be much greater than PLT's 10-day average volume of 738,348 shares.

2,887,741

UPDATE: 10 stocks positioned for an 'abrupt' rebound when normalcy finally returns -- none of them are tech

1:31 pm ET August 29, 2020 (MarketWatch)
Print

By Shawn Langlois, MarketWatch

The stock market continues to buck the steady flow of troubling headlines and gloomy metrics in a stark disconnect with the economy that's been hotly debated on Wall Street.

Read:Jim Cramer urges investors not to be fooled by new highs in the stock market (http://www.marketwatch.com/story/a-tale-told-by-an-idiot-cnbcs-jim-cramer-urges-investors-not-to-be-fooled-by-new-highs-in-the-stock-market-2020-08-19)

And while it might feel rather toppy and precarious, Thomas Hayes, founder and chairman of Great Hill Capital, a new phase in the bull market could be on the way.

"It is a Dickensonian, 'Tale of Two Markets' when you look under the surface," he wrote in a blog post (https://www.hedgefundtips.com/the-lionel-richie-dancing-on-the-ceiling-stock-market-and-sentiment-results/). "While it may be true that the general indices could be due for a rest in coming weeks, such a rest may be accompanied by 'under the surface' rallies in laggard/unloved sectors."

In other words, developments that might weigh on the major indexes by taking down leaders like Apple (AAPL) , Amazon (AMZN) , Facebook (FB) and the other big-name tech players, would actually provide a tailwind for beaten down names poised for a rebound.

"So, 'what do you think of the market?' is less interesting of a question than, 'what do you think about banks, commodities, emerging markets, defense stocks, tech, etc?'" Hayes said.

He used this chart to illustrate just how much relative appetite there is for tech lately:

Some names he mentioned that could come screaming back in a post-pandemic world include: Bank of America(BAC) , JPMorgan Chase (JPM) , Apache (APA) , Murphy Oil (MUR) , Boeing (BA) , Lockheed Martin (LMT) , MGM (MGM) , Las Vegas Sands (LVS) , Southwest Airlines (LUV) and United Airlines (UAL) , to name just a few with compelling set-ups.

"Announcement of a vaccine, or major breakthrough that pointed to near certainty and timeline on vaccine/treatment... would shift consensus FROM slower recovery/growth (lower rates) -- which benefits tech -- TO faster recovery/growth (slightly higher rates) -- which benefits cyclicals," he explained in his post. "When these groups turn, it will be abrupt."

Banks, in particular, should see a big move higher, he added.

"Most people will be chasing banks after they are trading at a 50-100% premium to book versus buying now -- in many cases -- at a discount to book," Hayes said. "How do we know? Because it happens coming out of every single historical recession. There is no recovery without Banks/Cyclicals leading out of the gate (early/high growth stages). No credit growth, no recovery."

Overall, he remains bullish on what lies ahead, particularly with the aforementioned laggards.

"The catalyst will likely come from science at this point. Don't bet against science," he said. "I would not be surprised to see a bit of volatility/chop over the next few weeks. For now, keep on dancing while the music is playing, but keep your feet on the floor."

For now, the stock market is rather quiet, with the Dow Jones Industrial Average , tech-heavy Nasdaq Composite and S&P 500 all hovering around the breakeven point in Thursday's trading session.

-Shawn Langlois; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 29, 2020 13:31 ET (17:31 GMT)

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