After a few weeks of substantial turnover in the Magic Formula screens, this week we fell back to some minor changes "at the edges".
Indeed, most of the stocks entering the screens we have seen before, and are likely just a result of their stock prices declining faster than the ones they replace in last week's awful market. The one name that I haven't seen in a while is Hillenbrand (NYSE:HI), which used to be a death services (caskets and urns) company, but has expanded into industrial equipment. Unfortunately for them, the industrial equipment market has been one of the hardest hit by the recent concerns over China's economy.
Here are the changes:Entering the 50 over 50 million screen:
Symantec Corp (NASDAQ:SYMC)