U.S. markets were lower once again today, as oil stocks were again lagging on lower crude oil prices, and Nordstrom, Inc. (NYSE:JWN) was the second major retailer to disappoint the street this week.
Crude oil dropped by almost 3%, the 7th time in 8 days it has declined, sitting near $40 per barrel for much of the day.
Meanwhile, on the retail front, Nordstrom missed analysts estimates by 30 cents and lowered its 2015 profit guidance, as well. In addition, October retail sales, although up by 0.1%, failed to meet the street’s expected rise of 0.3%.
The Dow Jones Industrial Average was off 1.2%, while the S&P 500 was lost 1.1%. The Nasdaq was the weakest on the day, down 1.5%. Sectors were mostly lower today, with basic materials the only sector that was really showing much strength.
Nevertheless, some individual stocks, such as Applied Materials, Inc. (NASDAQ:AMAT), Mylan NV (NASDAQ:MYL) and 3D Systems Corporation (NYSE:DDD) pushed higher, making them three of today’s best stocks.
Applied Materials, Inc. (AMAT)
AMAT stock rose more than 4% today after reporting full-year earnings after Thursday’s closing bell that beat estimates, and fourth-quarter earnings and revenue that met analysts’ expectations.
AMAT earned $1.19 per diluted share on $9.66 billion in revenue for the year ending October 25, a penny ahead of forecasts, and better than the $9.62 billion street forecast.
For the fourth quarter, AMAT said it earned 29 cents per share on revenue of $2.4 billion. The electronics company also reported that fourth quarter orders were up 7% year-over-year.
Mylan NV (MYL)
You lose some, you win some. MYL stock blistered nearly 13% higher today after it was announced that the company had lost its $26 billion hostile takeover bid for Perrigo Company plc Ordinary Shares (NYSE:PRGO).
Only a few days ago, MYL had stated that it was very confident its bid would be accepted by PRGO’s shareholders.
But PRGO shareholders rejected the bid because they felt the MYL cash and stock offer was insufficient. Perrigo Chairman and CEO Joseph Papa said the bid would “significantly undervalue our durable business model and industry-leading future growth prospects.”
PRGO stock subsequently lost 6% on the day.
3D Systems Corporation (DDD)
DDD stock had a solid day after announcing new affiliations with two different healthcare systems, Intuitive Surgical, Inc. (ISRG) and Fundamentals of Robotic Gynecologic Surgery. DDD stock climbed almost 3%.
The plan is for DDD to develop specific training modules that will improve patient safety, to be used in minimally invasive robotic hysterectomy procedures.
DDD will be presenting these teaching techniques at the American Association of Gynecological Laparoscopists Global Congress, in Las Vegas, NV between Nov. 15 and Nov. 19.
As of this writing, Ethan Roberts did not hold a position in any of the aforementioned securities.
