- Rite Aid rallies more than 20% after a top- and bottom-line beat. Despite the move, the stock could have more upside from here. - By Bret Kenwell, TheStreet.com As the stock market gyrates between positive and negative territory, Rite Aid (RAD) shares were firmly in the green. The stock was up about 20% Thursday following its quarterly results. Rite Aid is hitting its highest price since late April, and at one point was up more than 26%. The company delivered a top- and bottom-line beat for its fiscal first-quarter results, a difficult feat for retailers in the current environment. A loss of 4 cents a share came in well ahead of estimates looking for a loss of 38 cents. Revenue grew 12.5% year over year to $6.03 billion, which came in more than $400 million ahead of consensus expectations. After undergoing a reverse split just over a year ago,… more
– It's a violent fight between bulls and bears – By Maleeha Bengali, TheStreet.com The past seven days have been intensely brutal for both bulls and bears as the market violently moves below 3000 to above 3100, after u-turning from close to its rally all the way to 3250 from March lows. This will carry on this week till we... more
It remains to be seen if it's a good sign or bad, but traders are swapping out their favorite FANG stocks for other names…. the smaller, the better. The S&P 500 was up 1.3% on Wednesday, trailing the S&P 600 small cap index's 3.9% advance. The NYSE FANG Index, conversely, basically broke even in Wednesday's action. The relatively unmatched performances... more
By Keris Lahiff, CNBC The U.S. economy contracted in the first quarter, but signs in the stock market suggest investors are looking for it to gear up again soon. Todd Gordon, managing director of Ascent Wealth Partners, says a market rotation on a sector level could offer some clues. “We’re seeing a lot of rotation indicating that America is coming... more
Is the worst over for the market, as far as the fallout from the coronavirus outbreak goes? Definitely maybe. Stocks certainly made a good showing on Monday when they didn't have to, in response to seemingly good news on the contagion front. Namely, the S&P 500 as well as the NASDAQ Composite made higher highs on Monday, clearing the highs... more
If you're brave enough to keep score, the S&P 500 is now down nearly 27% from its record high reached just near the end of February. Thursday's 9.5% meltdown is the worst day for stocks since the fateful drubbing suffered in September of 1987. But, that entire '87 affair was only an 18% setback when all was said and done,... more
In our last FANG stocks update we warned that these names, as a group, were racing too far ahead of the pack. And, we've pointed out the same with a handful of sector-based and style-based looks of late. Not surprisingly, the overextended names that make up the so-called FANG stocks led last week's tumble. Whereas the S&P 500 fell 11.2%... more
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