Short Trading Week Ends With A Bang, Dow Up 154
The Dow was unstoppable in trading today, piling on steady gains until it exploded upward in afternoon trading. It added 154.67 points to close the week 18,140.44 points, ending just short of a record high. The S&P 500 was up as well, gaining 12.85 points to close at 2,110.30. The NASDAQ followed suit, piling on 31.27 points to end trading at 4,955.97. Overseas markets were up as well, with big gains for Japan's Nikkei, Germany's DAX, and London's FTSE. Markets in Brazil and France closed down on the day.
Carpet Manufacturer Mohawk Rises On Earnings. Mohawk (MHK), America's largest and most luxurious carpet mill, piled up shareholder profits today on news that it would beat Q4 earnings forecasts.
MedAssets Recovers After Wednesday's Dive. MedAssets (MDAS) did their best to make up for a terrible week today, regaining almost 8.50% in value that it had dropped on Wednesday. The company rose 1.54 points to 19.73, but despite exceeding earnings forecasts the company's outlook is still shaky because market analysts are skeptical about the amount of debt the company holds.
Health Services Sector Leads The Dow. MedAssets wasn't the only health services company to rise today, as the sector as a whole gained 9.87% to win the day. Health service's rising tides lifted a lot of boats, including many low-cap and mid-cap healthcare holding companies like Park City Group Inc (PCYG), WNS Holdings Ltd (WNS), and Cvent Inc (CVT). Park City Group put on 0.66 points, or 6.19%, to close at 13.20 per share. WNS Holdings added 0.08 points and ended trading at 23.62, a gain of over 14% YTD. Cvent Inc added just under one percent to its value and finished today's trading at 28.51 per share.
Garmin Looking Lost. One of the most popular consumer GPS manufacturers, Garmin (GRMN), needs to recalculate their marketing and sales strategies after the company has seen stock plummet -11% over 5 days. Garmin lost another -1.30 points today, and closed the day at 49.42 per share.
Home Improvement Stores Building Value. Every one of America's most popular home improvement retail stores added value today, thanks to increased consumer spending and better than expected earnings reports last week. Lowe's (LOW) went high and added 1.26 points to close at 73.56, while Home Depot (HD) gained 1.30 to 112.23, and The Tile Shop (TTS) stacked up just 0.17 points in order to close out trading at 11.11.
Walmart, Target Both Up. It was not just home improvement stores that saw rising share prices, the entire retail sector had a great day today. At the end of trading, the sector as a whole was up 6.10% and just about every business was benefiting from today's additional volume. Walmart (WMT) did very well, tacking on 0.78 points to close at 84.30, and rebounding slightly from the bruising it took this week. Target (TGT) also closed up, gaining just a quarter of a percent to finish the day's trading at 76.87 per share.