Why Best Buy Co Inc (BBY), Under Armour Inc (UA) and Netflix, Inc. (NFLX) Are 3 of Today’s Best Stocks

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U.S. markets began the day with a strong rebound after yesterday’s selloff, but ran out of gas in the last hour of trading. By the closing bell, stocks finished lower in the worst reversal day in seven years.

Why Best Buy Co Inc (BBY), Under Armour Inc (UA) and Netflix, Inc. (NFLX) Are 3 of Today's Best StocksThe morning started off well, despite a 7% loss in the Shanghai market, after the Chinese Central Bank cut interest rates to 4.6%. For the second consecutive day, the NYSE invoked Rule 48 to keep markets orderly.

There was some fairly good economic news: The Commerce Department announced that New Home Sales Figures for July were trending 5.4% higher, for an annual rate of 507,000. But still, this was slightly below the expected rate of 510,000.

The S&P Case-Shiller 10 and 20 city Home Price Indices for June showed a price increase of 4.5%, but that was less than the 5% increase expected by economists. In addition, the Conference Board’s Consumer Confidence index rose to 101.5 for the month of August, ahead of expectations.

The Dow Jones Industrial Average, which began the day up over 440 points, reversed course in the afternoon to finish 0.5% lower. Meanwhile, the S&P 500 Index sank 1.3% and the Nasdaq Composite finished off only 0.4% lower.

Still, a few stocks managed to stand out by the end of Tuesday’s trading, including: Best Buy Co Inc (NYSE:BBY), Under Armour Inc (NYSE:UA) and Netflix, Inc. (NASDAQ:NFLX), all of which rallied strongly off the bell and never looked back.

Here’s why they were among the three best stocks today.

Best Buy Co Inc (BBY)

BBY stock blasted 12.6% higher Tuesday after reporting second-quarter earnings of 49 cents per share on revenue of $8.63 billion. Both numbers were better than analysts’ estimates for 34 cents a share on $8.29 billion.

Sales of appliances, cell phones and large screen televisions were particularly strong this quarter.

BBY also has something new to look forward to, as beginning in September, Best Buy will also be selling the Apple Inc. (NASDAQ:AAPL) Watch.

Under Armour Inc (UA)

Under Armour had a strong day after being named one of RBC Capital Market’s “Darling” 25 stocks to buy during Monday’s market melt down.

UA stock is also seeing some benefit from a new television ad called “Rule Yourself,” featuring celebrities such as ballerina Misty Copeland, NBA star Stephen Curry and golf pro Jordan Spieth. The ad projects the concept that you are the sum of your training in life.

UA stock, which was up over 4% in the morning, finished nearly 2% to the plus side.

Netflix, Inc. (NFLX)

NFLX stock streamed 5% higher after reporting they’ve forged new Telecom pacts with Japan’s SoftBank Group Corp (OTCMKTS:SFTBF) and T-Mobile US Inc (NYSE:TMUS).

TMUS will offer one free year of Netflix as part of a package deal when customers purchase its wireless service.

However, SoftBank, which has 38 million subscribers, will sell Netflix video streaming subscriptions in its retail outlets, call centers and website. In addition, SoftBank will preinstall Netflix on its smartphones sold after October of this year.

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/2015/08/netflix-best-stocks-bby-ua-nflx/.

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