Why Abercrombie & Fitch, Bluebird Bio, and Barrick Gold are 3 of Today’s Best Stocks

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After a difficult morning which saw stocks fall precipitously and the CBOE Volatility Index spike, U.S. stocks made a strong comeback this afternoon, but still finished mixed to lower on the day.

Abercrombie & Fitch ANF stockHelping to lift the market was the wholesale inventory report, which showed an increase of 0.4% in October, far better than the 0.1% expected gain. Also contributing to the market comeback was the 2-point increase in the November Small Business Optimism index reading to 98.1, besting the expectations of 96.1.

The Dow Jones Industrial Average fell nearly 0.3% , the S&P 500 was down a fractional 0.02%, but the Nasdaq bucked the trend to finish 0.5% higher.

Among the strongest sectors today were the utilities, technology, and energy stocks.  Individual stocks leading the charge today were Abercrombie & Fitch Co. (ANF), bluebird bio Inc (BLUE), and Barrick Gold Corporation (USA) (ABX), all of which had very strong showings on good volume.

Abercrombie & Fitch Co. (ANF)

One man’s bad news was good news for ANF stock, which rose a blistering 8% after it was reported that often controversial CEO Mike Jeffries was retiring “effective immediately.” The new acting CEO of ANF will be Arthur Martinez, a former chief executive at Sears Holdings Corp (SHLD), who will take over temporarily until a new CEO is named.

In recent months, ANF stock has been hurt by poor sales reports, which dropped ANF stock from $44 to $26 before today’s rebound.

bluebird bio Inc (BLUE)

Bluebird bio led all stocks today, rocketing up more than 72% on volume of almost 8 million shares after a report given at the American Society of Hematology that the company’s technique to replace a defective gene that causes a fatal blood disorder, had been effective enough to stop the need for blood transfusions in two patients over a five-month period.

The two patients were suffering from beta thalassemia, a genetic disorder that disrupts the normal production of hemoglobin and causes anemia.  BLUE stock, up 180% since October, has stormed up the charts in recent months.

Barrick Gold Corporation (USA) (ABX)

ABX stock had a solid day, up more than 4%, as gold prices rose 2.1% to $1,229 per ounce after Dennis Lockhart, the head of the Atlanta Federal Reserve, said he won’t rush to drop the Fed’s promise to keep interest rates near zero for a considerable time.

On Monday, Barrick Gold announced completion of a joint venture agreement with Saudi Arabian Mining Company (Ma’aden) to operate the Jabal Sayid copper mine.  Shares of ABX stock, which had recently fallen from $19 to less than $11, have now bounced back about 10% over the last month.

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

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Article printed from InvestorPlace Media, https://investorplace.com/2014/12/abercombie-fitch-bluebird-bio-barrick-gold-3-todays-best-stocks/.

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