Tech and Energy Lead the S&P 500 after Low Numbers Today
There are a few high performing stocks today even though the market is slightly down, and we cover the biggest ones here.
The S&P 500 is down today by 0.21%, but still far above where it was at the beginning of the month.
Even though the stock index is trending down today, a few stocks are making major moves. At the top of the list are Garmin Ltd. (GRMN), which is up 11.16%, and EQT Corp. (EQT), up 9.84% today.
The GPS leader Garmin is having a great day after the company reported a very strong fourth quarter for 2023. Their EPS (earnings per share) came in at $1.72, which was higher than the expected $1.40. The company brought in $1.48 billion, which was also higher than expected.
Garmin managed to grow 13% over the last year, including strong growth in its fitness sector. The company’s earnings per share has grown from year to year, and it is no wonder this stock has skyrocketed today, leading the list of stocks on the S&P 500.
Coming in second place was EQT Corp, which is the United States’ largest natural gas producer. The company also posted its sales for 2023 and is now expecting an even better year in 2024. The company’s growth rate, stock price, and earnings places them above the majority of other stocks, making EQ2 Corp. a good long-term investment.
It should be noted that EQT’s profits dropped for 2023 even though their sales volume increased. That’s due to lower prices, but the company expects to make greater profits in 2024 by stepping up production. EQT revealed that its proved reserves grew by 10%, and the natural gas producer is planning to provide more than two trillion cubic feet of natural as for the year.
On the Other Side of the Spectrum
The cybersecurity company Palo Alto (PANW) recorded a stock loss of 26.75% for Wednesday, making it the poorest performer on the S&P 500 index. The company cut its fiscal outlook for 2024, which caused the stocks to plummet.
Other low performers on the S%P 500 include International Flavors & fragrances (down 7.34%) and Keysight Technologies (down 7.24%).
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals