Why Popeyes Louisiana Kitchen Inc, Wal-Mart Stores, Inc. and Time Warner Cable Inc Are 3 of Today’s Best Stocks

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U.S. stocks closed moderately higher on Thursday, with the Dow Jones Industrial Average up 0.23%, the S&P 500 up 0.05% and the Nasdaq higher by 0.11%. The last hour of trading saw the major indices moving a little bit higher in tandem. The Dow Jones and S&P did push above recent highs intraday, but closed near recent resistance levels.

Why Popeyes Louisiana Kitchen Inc, Wal-Mart Stores, Inc. and Time Warner Cable Inc Are 3 of Today’s Best StocksTelecommunication and consumer discretionary stocks were today’s market leaders, as Popeyes Louisiana Kitchen Inc (PLKI), Wal-Mart Stores, Inc. (WMT) and Time Warner Cable Inc (TWC) were among some of the better performers on Wall Street.

If you owned these three stocks, it was a good day to sit back, enjoy some fried chicken and catch some TV.

Walmart (WMT)

WMT stock gapped higher Thursday after announcing that comparable sales at stores open at least 12 months rose 0.5% in the third quarter, due to growth in its small-format store locations. The Street was expecting only flat same-store sales. The increase in sales was attributed to low-income consumers having more spendable income, thanks to lower gasoline prices over the last few months.

Walmart shares finished up 4.7% to close at $82.95. WMT stock had been trading sideways between $70 and $77 since May 2013, so today’s closing price represents a true breakout for the retailer.

Time Warner Cable (TWC)

TWC stock rose 3.2% following word from Comcast (CMCSA) that it’s moving ahead with the planned acquisition of Time Warner Cable despite obstacles ahead in the regulatory review process, recent talk of more regulation of the broadband industry and a push by the Obama administration for net neutrality. Comcast CEO Brian Roberts told reporters in San Francisco that the merger is in its final phases and remains on track to close.

Time Warner had recently fallen from $150 to $136 on nervousness surrounding net neutrality. However, today’s rebound to $140.89 pushed TWC stock up close to its 200-day moving average at $141.77.

Popeyes (PLKI)

Popeyes was up soundly today, rising 7.3% to $51.99, after reporting better-than-expected earnings after the market closed on Wednesday. The fast-food chicken franchise reported earnings per share of 42 cents, or 2 cents above analysts’ expectations. PLKI revenue of $54.9 million was also above the $54.7 million expected by the Street.

Popeyes said it expects to achieve $1.61 to $1.64 for its full year earnings. The good news allowed the stock to gap up well above recent resistance around $49.

As of this writing, Ethan Roberts did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2014/11/why-popeyes-louisiana-kitchen-inc-wal-mart-stores-inc-and-time-warner-cable-inc-are-3-of-todays-best-stocks/.

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