Why Taser International, Inc. (TASR), Cypress Semiconductor Corporation (CY) and Range Resources Corp (RRC) are 3 of Today’s Best Stocks

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U.S. markets began the day modestly lower, but then slid badly during the afternoon as investors keyed in on the possibility of rising rates in September and lowered corporate earnings. Traders awaited word of a deal to be reached in Greece — and while some progress was noted, no end to the impasse was reached.

taser-international-tasr-stock-185In U.S. economic news, the Labor Department reported that weekly jobless claims were at 262,000, a 15-year low. Consumer personal income for March was flat, and consumer spending rose a scant inflation-adjusted 0.3%. On a more positive note, the Chicago Purchasing Managers’ Index (PMI) reading was above Street expectations, at 52.3.

The Dow Jones Industrial Average lost almost 200 points, or 1.1%. The S&P 500 was off 1% and for the third consecutive day, the Nasdaq Composite was the weakest index, giving up 1.6%. All sectors were below par today, with technology the weakest of the group.

Despite the downdraft, some stocks moved higher. Taser International, Inc. (NASDAQ:TASR), Cypress Semiconductor Corporation (NASDAQ:CY) and Range Resources Corp. (NYSE:RRC) bucked the trend to be three of today’s best stocks.

Taser International, Inc. (TASR)

TASR “stunned” the market today with its first-quarter earnings of 13 cents a share, well ahead of analysts’ expectatations of 6 cents a share and better than the 6 cents per share that TASR stock earned in the same quarter a year ago.

Revenue was $44.8 million, well ahead of consensus estimates for $40 million, and 24% better than the first quarter of 2014. Sales of the Taser X26P and Taser X2 smart weapons accounted for a large part of the company’s sales.

TASR stock was up 7.5% and has now risen more than 30% since early March.

Cypress Semiconductor Corporation (CY)

CY reported rather dismal earnings today, but the Street still launched CY stock up 4%. CY reported an adjusted first-quarter loss of 45 cents a share, while analysts were expecting a profit of 6 cents. Revenue of $209.1 million was below analysts’ expectations for $212.9 million.

Investors realized that the quarter’s loss was due to a $107 million adjustment that Cypress absorbed as part of its acquisition of of Spansion Inc. Without that charge, CY was looking at earnings of 10 cents per share.

Now that those charges are behind it, Cypress seems poised for growth.

CY also announced the retirement of J. Daniel McCranie, CY’s executive vice president of sales and applications. McCranie, who had been with Cypress for 23 years, will be succeeded by Michael Balow.

Range Resources Corp. (RRC)

Despite a downgrade today by KLR Group LLC from “buy” to “accumulate,” RRC popped 4% higher before pulling back to finish the 2.4% higher on the day after first-quarter adjusted earnings of 12 cents per share beat analysts’ expectations of 4 cents on Wednesday.

First-quarter revenue of $462.5 million was also well ahead of the estimate of $439 million, and more than the $457.3 million RRC earned in the same quarter a year ago.

Yesterday, Cowen Group Inc (NASDAQ:COWN) initiated coverage of RRC, along with several other oil exploration stocks, and set a price target of $73 for RRC stock.

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

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Article printed from InvestorPlace Media, https://investorplace.com/2015/04/taser-international-inc-tasr-cypress-semiconductor-corporation-cy-range-resources-corp-rrc-3-todays-best-stocks/.

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