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Markets Are Down, But These Stocks Surged to All-Time Highs Today
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Friday has been a rough day on Wall Street, with several major indexes—including the Dow, Nasdaq, and S&P 500—hovering deep in the red during early afternoon trading hours.
Through about 2 p.m. EST, the S&P 500 was down about 1.45%, while the Nasdaq Composite was about 1.22% lower. Meanwhile, the Dow Jones Industrial Average was down more than 400 points, or roughly 1.74%—putting the popular indicator on track for its worst week in two years.
Friday’s slump comes on the back of the Bureau of Labor Statistics’ first jobs report of 2018. According to the latest data, the U.S. added about 200,000 jobs in January, outpacing estimates that called for growth of 180,000 jobs. The report also noted that wages rose 2.9% on an annualized basis.
The new jobs info sent interest rates higher on Friday morning. The benchmark 10-year yield moved to 2.85%, a four-year high. The 30-year yield touched its highest level since March.
But it has not been all bad news today. According to BarCharts.com, at least 44 stocks surged to new all-time highs, with several positive moves stemming from strong earnings results.
Among these companies was Amazon.com, Inc. (AMZN - Free Report) . Shares of the e-commerce king gained as much as 5% to touch a new intraday peak of $1,498.00 in morning trading after the company posted robust earnings and revenue growth on Thursday.
Amazon surpassed analyst estimates on both the top and bottom line. The Jeff Bezos-led company notched revenue growth of 38%, while operating income soared 69%. Amazon said that sales in its budding Web Services division reached $5.11 billion in the quarter.
Another company that witnessed a strong post-earnings move was Edwards Lifesciences Corporation (EW - Free Report) . Edwards posted its fourth-quarter 2017 report on Thursday afternoon, reporting adjusted earnings of $0.97 per share and revenues of $888.5 million. Both of these results beat the respective Zacks Consensus Estimates.
Edwards said that adjusted earnings grew 25.3% and total revenues expanded 15.7% on the back of strong sales growth in the company’s transcatheter heart valves business. Management also acknowledged strong performance from the Surgical Heart Valve Therapy and Critical Care product lines.
Shares of Edwards Lifesciences moved as much as 6% higher to touch a new all-time high of $138.48 in morning trading hours.
Finally, investors should note that popular recent IPO Canada Goose Holdings Inc. (GOOS - Free Report) surged to a new peak of $37.10 per share in early afternoon trading. We will not see Canada Goose’s latest results until next week, but Wall Street is clearly getting excited about the trendy winter apparel maker.
Based on our current consensus estimates, we expect Canada Goose to report earnings of $0.36 per share and revenues of $188 million. The company said yesterday that it will release its latest results before the bell opens on Feb. 8.
Want more analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth.
Image: Bigstock
Markets Are Down, But These Stocks Surged to All-Time Highs Today
Friday has been a rough day on Wall Street, with several major indexes—including the Dow, Nasdaq, and S&P 500—hovering deep in the red during early afternoon trading hours.
Through about 2 p.m. EST, the S&P 500 was down about 1.45%, while the Nasdaq Composite was about 1.22% lower. Meanwhile, the Dow Jones Industrial Average was down more than 400 points, or roughly 1.74%—putting the popular indicator on track for its worst week in two years.
Friday’s slump comes on the back of the Bureau of Labor Statistics’ first jobs report of 2018. According to the latest data, the U.S. added about 200,000 jobs in January, outpacing estimates that called for growth of 180,000 jobs. The report also noted that wages rose 2.9% on an annualized basis.
The new jobs info sent interest rates higher on Friday morning. The benchmark 10-year yield moved to 2.85%, a four-year high. The 30-year yield touched its highest level since March.
But it has not been all bad news today. According to BarCharts.com, at least 44 stocks surged to new all-time highs, with several positive moves stemming from strong earnings results.
Among these companies was Amazon.com, Inc. (AMZN - Free Report) . Shares of the e-commerce king gained as much as 5% to touch a new intraday peak of $1,498.00 in morning trading after the company posted robust earnings and revenue growth on Thursday.
Amazon surpassed analyst estimates on both the top and bottom line. The Jeff Bezos-led company notched revenue growth of 38%, while operating income soared 69%. Amazon said that sales in its budding Web Services division reached $5.11 billion in the quarter.
Another company that witnessed a strong post-earnings move was Edwards Lifesciences Corporation (EW - Free Report) . Edwards posted its fourth-quarter 2017 report on Thursday afternoon, reporting adjusted earnings of $0.97 per share and revenues of $888.5 million. Both of these results beat the respective Zacks Consensus Estimates.
Edwards said that adjusted earnings grew 25.3% and total revenues expanded 15.7% on the back of strong sales growth in the company’s transcatheter heart valves business. Management also acknowledged strong performance from the Surgical Heart Valve Therapy and Critical Care product lines.
Shares of Edwards Lifesciences moved as much as 6% higher to touch a new all-time high of $138.48 in morning trading hours.
Finally, investors should note that popular recent IPO Canada Goose Holdings Inc. (GOOS - Free Report) surged to a new peak of $37.10 per share in early afternoon trading. We will not see Canada Goose’s latest results until next week, but Wall Street is clearly getting excited about the trendy winter apparel maker.
Based on our current consensus estimates, we expect Canada Goose to report earnings of $0.36 per share and revenues of $188 million. The company said yesterday that it will release its latest results before the bell opens on Feb. 8.
Want more analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth.
Click here to access these stocks. >>