US stocks Advanced on Tuesday, with the S&P 500 Index advancing for a fifth successive session, buoyed by hopefulness that Republicans and Democrats will ultimately reach an agreement to prevent the automatic spending trims and tax increases set to go into effect early coming year.
Shares of J.C. Penney Company, TripAdvisor, and Monster Beverage made great moves all through US trading on Tuesday. [article_detail_ad_1]
J.C. Penney Company, Inc. (NYSE:JCP) dropped from their earlier highs but still settled 4.11% higher. Reports released on Monday painted the retailer’s attempts to turn around its business in comparatively constructive language.
Brian Nagel, an analyst at Oppenheimer & Co stated that the JCP turnaround is still in the extremely early stages and stays fluid. They are hopeful that over the longer term, the strategies of CEO Ron Johnson and his squad will ultimately produce a more profitable chain.
Tripadvisor Inc (NASDAQ:TRIP) shares advanced 6.6% to the top of the S&P 500 top movers. Liberty Interactive stated that it acquired 4.8 million shares of TripAdvisor at $62.50 per share in a transaction valued at $300 million. The contract gives Liberty voting control of the online travel firm.
Monster Beverage Corp (NASDAQ:MNST) stock is on the go later than it was raised by Stifel Nicolaus to buy from previously rated hold.
Mark Astrachan, Stifel’s analyst, in a report, staed that they believe shares mainly reflect slowing sales expansion, due largely to hard year-on-year comparisons, which they expect will reaccelerate beginning in 2Q13. They as well think regulatory concerns are exaggerated.
He further stated that a premium multiple is warranted, in their view, given Monster is a exclusive, high-margin business with solid free-cash-flow generation and sustainable low-double-digit sales expansion over the coming 3-5 years driven by sustained US share gains, innovation, and international growth.
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