Starbucks, Meta, Exxon among many stocks dropping off BofA's Alpha Surprise screen
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The number of stocks dropped from BofA's quantamental Alpha Surprise Portfolio dwarfed the number of new entrants in April.
The portfolio return was -6.8% for the month, outperforming the S&P 500 (SP500) (SPY), -8.8%, but trailing the equal weight S&P 500 (RSP), -6.4% for the month.
The list is based on an Alpha Surprise score that "is a 25%/75% weighted combination of the decile scores from two proprietary models, our Dividend Discount Model (the value or 'alpha' portion of the model) and our BofA vs. Consensus Forecast Earnings Surprise Model (the growth or 'surprise' portion of the model)," strategist Savita Subramanian wrote in a note. "A decile rank of 1 is most attractive, and a decile rank of 10 is least attractive." 
The portfolio is most overweight Communication Services (XLC), Energy (XLE) and Utilities (XLU). It is most underweight Info Tech (XLK), Materials (XLB) and Healthcare (XLV).
Facebook parent Meta Platforms (NASDAQ:FB) fell off the screen after 24 months. Only Alphabet (GOOG) (GOOGL) at 55 months and T-Mobile (TMUS), 26 months, have longer tenures in the portfolio.
The portfolio deletions were:

AmerisourceBergen (ABC)
Amgen (AMGN)
APA (APA)
BlackRock (BLK)
C.H. Robinson (CHRW)
CenterPoint Energy (CNP)
Chevron (CVX)
Devon Energy (DVN)
Domino's (DPZ)
Ecolab (ECL)
Exxon Mobil (NYSE:XOM)
Meta (FB)
Fiserv (FISV)
Fleetcor (FLT)
Intercontinental Exchange (ICE)
KeyCorp (KEY)
Keysight Technologies (KEYS)
Kroger (KR)
Lam Research (LRCX)
Eli Lilly (LLY)
McDonald's (MCD)
NextEra Energy (NEE)
PNC Financial (PNC)
Packaging Corp. (PKG)
ResMed (RMD)
SolarEdge Technologies (SEDG)
Starbucks (NASDAQ:SBUX)
Verizon (VZ)
WestRock (WRK)

The additions, including their Alpha Surprise Score where 1 = most attractive:

American Electric Power (AEP), 1.5
Baxter International (BAX), 1.5
Electronic Arts (EA), 2
Hartford Financial (HIG), 2
Archer-Daniels-Midland (ADM), 2.25
Healthpeak Properties (PEAK), 2.25
Lockheed Martin (LMT), 2.25
Public Storage (PSA), 2.25
Take-Two Interactive (TTWO), 2.25
Willis Towers Watson (WTW), 2.25
CarMax (KMX), 2.5
Deere (DE), 2.5
Dominion Energy (D), 2.5
Marathon Petroleum (MPC), 2.5
Ventas (VTR), 2.5
Hilton (HLT), 2.75
Juniper Networks (JNPR), 2.75

T-Mobile (TMUS) and Halliburton (HAL) are the only stocks with a top score of 1.
See Tom Lee's four reasons to respect FAANG's run at the tail end of April.