Why GameStop Corp (GME), Sonic Corporation (SONC) and NXP Semiconductors NV (NXPI) are 3 of Today’s Best Stocks

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An unexpected interest rate cut in China over the weekend and some good news on the U.S. economic front pushed the Nasdaq Composite higher than 5,000 today for the first time since 2000, and had all three major indices rallying to new highs.

Why GameStop Corp (GME), Sonic Corporation (SONC) and NXP Semiconductors NV (NXPI) are 3 of Today's Best StocksBenchmark interest rates in China were cut 25 basis points the People’s Bank of China to 5.35% on Saturday, in a hurry-up effort to stop a contraction of their manufacturing base that threatens the Chinese economy. This gave stocks a boost, as did the Markit Manufacturing Purchasing Manager’s Index, which rose from 53.9 in January to 55.1 in February.

The Dow Jones Industrial Average and S&P 500 both set new records, as the Dow rose by more than 0.8% to close at a 18,288.63, while the S&P gained 0.6% and closed just slightly below its high of 2,117.39. The Nasdaq was up by 0.9%. Technology, industrials and cyclical consumer goods were the sectors leading markets higher today.

GameStop Corp. (NYSE:GME), Sonic Corporation (NASDAQ:SONC) and NXP Semiconductors NV (NASDAQ:NXPI) were up on acquisition and sales news, and were three of today’s best stocks.

GameStop Corp. (GME)

GME stock was up more than 4% today after its parent corporation, Spring Communications Inc., picked up approximately 163 RadioShack Corporation (OTCMKTS:RSHCQ) store locations in a bankruptcy auction on Friday. Spring will pay $15,000 per store to take over the leases at the former Radio Shack stores across the U.S.

GME stock has been a market laggard over the past several months, down about 13% since the end of November. Today’s news could give it a lift going forward.

Sonic Corporation (SONC)

SONC stock traded higher by nearly 6% today after reporting that same-store second-quarter sales were up by 11.5%. Company chairman and CEO Cliff Hudson said he was particularly pleased that the increase had coming during a seasonally slower time of year. Product innovation, growth in core menu items and a national media strategy all contributed to the company’s strong sales during the quarter.

SONC stock has been very much on a tear, with its stock price increasing about 57% since September.

NXP Semiconductors NV (NXPI)

Dutch chipmaker NXP Semicounductors stock blasted up 17% today after agreeing to buy Freescale Semiconductor Ltd (NYSE:FSL) for $11.8 billion. The deal makes NXP Semiconductors the largest supplier of automotive industry microchips in the world. FSL stock also gained more than 11% on the day.

NXP will also assume all of FSL’s debt, which will bring the total value of the acquisition to $16.7 billion. The deal is expected to close in the latter half of 2015, assuming that it gains approval by the board of directors of both companies.

With today’s huge price gain, NXPI stock has risen more than 76% from October through today’s closing bell, and it looks like better days are still ahead for investors.

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/2015/03/gamestop-corp-gme-sonic-corporation-sonc-nxp-semiconductors-nv-nxpi-3-todays-best-stocks/.

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