U.S. stock markets were moderately weaker today, with very little reason. Investors may have been trying to decide whether Friday’s stronger-than-expected jobs report this past Friday would lead to a Fed tightening of interest rates in September. The Dow Jones Transportation Average was especially weak, off 2% to weigh on the rest of the market.
As far as the major indices were concerned, the Dow Jones Industrial Average was off 0.5%, while the S&P 500 was 0.7% lower. The Nasdaq was weakest of all, off 0.9%.
But not all stocks took it on the chin. Deutsche Bank AG (USA) (NYSE:DB), Opko Health Inc. (NYSE:OPK) and Cyberark Software Ltd (NASDAQ:CYBR) were three of the day’s best stocks, showing some serious relative strength. Here’s why.
Deutsche Bank AG (USA) (DB)
Deutsche Bank shares headed roughly 5% higher today after appointing John Cryan as CEO, replacing co-CEOs Anshu Jain and Juergen Fitschen beginning July 1.
Mr. Cryan has earned a solid reputation as an executive who can turn around struggling companies. He took over as the CFO at UBS Group AG (USA) (NYSE:UBS) in 2008 and righted that ship during the financial crisis. DB shareholders are hoping he can do the same for Deutsche Bank.
Deutsche Bank is now recovering nicely off its lows around $30.
Opko Health Inc. (OPK)
OPK stock finished more than 3% higher Monday, continuing its momentum after announcing it would buy Bio-Reference Laboratories Inc (NASDAQ:BRLI), and following the announcement of BRLI’s second-quarter results.
The all-stock transaction values BRLI at $1.47 billion. Bio-Reference shareholders will receive 2.75 shares of OPK stock for every share they own. The deal is expected to close during the second half of 2015.
BRLI shares finished up more than 5% today.
Cyberark Software Ltd (CYBR)
Last week, FireEye Inc (NASDAQ:FEYE) got a boost amid a data breach in the U.S. government. CYBR enjoyed an uptick as well — one that continued into Monday.
CyberArk also happens to be among several cybersecurity stocks that Jim Cramer believes are “cheap plays.”
CYBR stock rose almost 8% this morning before pulling back, but still finished more than 3% higher.
As of this writing, Ethan Roberts did not hold a position in any of the aforementioned securities.
