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These stocks have strong balance sheets as broader market sells off

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Bath & Body Works Inc,General Mills Inc,International Business Machines Corp

Wolfe Research shared its latest list of stocks with high free cash flow.

Companies with stronger balance sheets may give investors a leg up when markets become tumultuous – and Wolfe Research has a few stocks that could fit the bill. A combination of disappointing tech earnings, uncertainty around the presidential election this November and an imminent rate-cutting cycle sent investors scurrying out of mega-cap tech titans and into their smaller counterparts.

"We are Overweight, but acknowledge LVS may be more suited for investors w/ duration/appreciation for capital return than those seeking NT upside from Macau re-accelerating," the analyst wrote. With an estimated 2024 free cash flow yield of 5%, Lockheed Martin also made the list. Shares of the aerospace and defense giant are up 15% in 2024. Lockheed Martin closed more than 5% higher on Tuesday after the company surpassed earnings and revenue expectations in the second quarter.

 

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