Despite a drop in the Consumer Confidence Index for November, it was another fairly decent day on Wall Street on the Tuesday before the Thanksgiving holiday. Helping to boost stocks was a report from the Commerce Department that GDP climbed an annualized 3.9%, up from an initial estimate of only 3.5%. The Dow Jones Industrial Average and S&P 500 finished marginally lower, while the Nasdaq was higher by just a couple basis points.
None of the sectors really made their presence felt as market leaders Tuesday, but Taser International, Inc. (TASR) Signet Jewelers Ltd. (SIG) and Qihoo 360 Technology Co Ltd (QIHU) were among some of the day’s best stocks.
Taser International, Inc. (TASR)
The maker of stun guns and wearable law enforcement cameras was higher by more than 4% amid news of erupting violence and fire setting overnight in Ferguson, Missouri, after a grand jury failed to indict Ferguson police officer Darren Wilson for the shooting death of Michael Brown.
Since August, when the shooting occurred, TASR has received orders for more than 700 body-worn video cameras from various police departments around the country. TASR stock has similarly been on a tear, and is now up a blistering 50% since mid-October.
Signet Jewelers Ltd. (SIG)
Signet Jewelers gapped more than 7% higher on strong volume of 4.5 million shares following a solid earnings report. SIG announced adjusted EPS of 21 cents today, beating Street estimates by 3 cents, but still below the 63 cents per share reported a year ago. Revenue was up 54% to $1.19 billion, just slightly ahead of estimates for $1.18 billion. Same-store sales grew by 4.2%.
Signet recently acquired rival jewelry retailer Zale Corporation (ZLC), and is up 20% over the last five weeks.
Qihoo 360 Technology Co Ltd (QIHU)
QIHU blasted up by more than 7% today on 11.1 million shares. The No. 2 Chinese search provider guided fourth-quarter revenue of $410-$415 million, above the Wall Street view of $405 million, with strong growth in its online advertising and game sales. This was 85% to 87% higher than a year ago as well.
The company, which lost its revenue share partnership with Alibaba (BABA) this past quarter, continues to build its own solid momentum, according to JG Capital analyst Henry Guo.
As of this writing, Ethan Roberts did not hold a position in any of the aforementioned securities.
