Why Barnes & Noble, Trulia and Tenet Healthcare Are 3 of Today’s Best Stocks

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Wall Street loved the jobs report this morning and it was once again off to the races for the major indices. The Bureau of Labor Statistics reported that 321,000 new jobs were created in November, besting even the high range of analyst expectations by 46,000. By the end of the day, both the Dow Industrial Average and the S&P 500 were again touching on new records, and the Nasdaq higher by 0.24%. Traders were betting that with stronger hiring ahead, even a potential Fed rate hike would not slow down the economy.

Barnes & Noble, Inc. (BKS), Trulia Inc (TRLA) and Tenet Healthcare Corp (THC) The financial and healthcare sectors led the markets, and Barnes & Noble, Inc. (BKS), Trulia Inc (TRLA) and Tenet Healthcare Corp (THC) were three noteworthy beneficiaries of Wall Street’s good mood.

Barnes & Noble, Inc. (BKS)

BKS stock rebounded strongly after yesterday’s 5% drubbing. On Thursday, Wall Street analysts were not happy about Microsoft Corporation (MSFT) ending its Nook partnership with BKS, especially just a few months after Liberty Media Corp (LMCA) also cut its ties with BKS.

The Street might have overreacted Thursday, when they sent BKS stock all the way down to $19 intraday; after all, the stock closed up well more than 7% on Friday at $22.63 … but the volume of 1.8 million shares was only about half of what was traded the previous day.

Trulia Inc (TRLA)

TRLA had a strong day, piggybacking on good news from Zillow Inc (Z), which reported a 41% year-over-year increase in users during the month of November. Another factor helping TRLA stock to rise over 3% today was the strong jobs report, which is a key contributor to a healthy real estate market.

TRLA stock is up over 25% within the last month alone.

Tenet Healthcare Corp (THC)

Two factors also helped THC stock put in another strong day on Friday, rising just under 7% for the day. The board of directors appointed Freda C. Lewis-Hall as their newest independent director. Lewis-Hall is currently the executive VP and chief medical officer of Pfizer Inc (PFE). That news sent THC stock above its 200-day moving average, and with that occurring, THC stock then received a technical push from traders.

However, THC — which finished at $51.79 — still has a long way to go to return to its recent closing peak of $62.84 in September.

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/2014/12/barnes-noble-trulia-tenet-healthcare-3-todays-best-stocks/.

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