Huge Gains Across the Market Today

In trading today, markets were up across the board in higher than average volume. The Dow gained 235.57 points, and closed out the day at 16,284.70. The NASDAQ posted today’s best real gains, up 2.28% or 102.85 points, to close out the day’s trading at 4,620.17. The S&P 500 split the difference, gaining 35.94 points to close at 1,920.03.

In overseas trading, markets were up as well. In Asia, Japan’s Nikkei closed today’s trading up 470 points. The Hang Seng in Hong Kong gained 266. In Europe, Germany’s DAX ended the day up 215 points. London’s FTSE gained 156, and France’s CAC ended up 112 points.

Gap (GPS) Down as Senior Manager Leaves for Ralph Lauren (RL)

Shares of Gap Inc (GPS) plummeted today, after news became public that a senior manager with their Old Navy brand was hired by Ralph Lauren (RL). Stefan Larson, who managed Old Navy, accepted the job as CEO of Ralph Lauren.
The move is expected to shake up Gap, as they hurry to replace the outgoing senior management.

Huge Gains Across the Market Today

In a spot of good news for a change, there were huge gains across all sectors in trading today. Electronics manufacturers Western Digital (WDC) and SanDisk (SNDK) both saw share prices shoot up 15% and 10% respectively. Pharmaceuticals firm Endo International (ENDP) gained 14% on the day. Ralph Lauren (RL) posted gains of 13.5% amid news that they were getting a new CEO. Advanced Auto Parts (AAP) gained 11%. Penny stock favorite Glencore (GLNCY) posted 14% gains.

Western Digital (WDC) Up Big on News of Chinese Buy-In

Shares of Western Digital (WDC), an electronics storage device manufacturer, were up big today on news of a buy-in by Chinese firm Unisplendour. The company will be paying $3.77 billion for a 15% stake in the Western Digital. Unisplendour is paying about 33% above market value for each share of Western Digital.

Generac (GNRC) Soars on Hurricane Worries

Generator manufacturer Generac (GNRC) was up 9% today over fears that hurricane Joaquin would be upgraded past a category 1 storm and potentially do a lot of damage on the east coast. Generac is a relatively small company -- with a market cap of just $2 billion -- but it has a history of popping during major storms. Roofing manufacturer Owens Corning (OC), and home centers Home Depot (HD) and Lowe’s (LOW) were also up.
Published on Sep 30, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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