It was another lackluster day on Wall Street, with some good earnings being weighed against another day of uncertainty over the possibility of a Greek default.
Investors were laying off stocks ahead of a weekend that could decide whether or not Greece will avoid a default and remain in the euro currency system.
In economic news, the Michigan Consumer Sentiment index posted a June final reading of 96.1, which was a five-month high and better than economists’ expectations for 94.6. The reading was significantly higher than May’s 90.7.
The Dow Jones Industrial Average gained 0.3%, while the S&P 500 was flat and the Nasdaq Composite gave back 0.6%. Micron Technology, Inc. (MU) lost 18% to weigh heavily on that index today.
Sectors were once again mixed, and consumer goods was the leading sector on the day. Solid earnings helped Winnebago Industries, Inc. (WGO), and Nike Inc (NKE), while Opko Health Inc. (OPK) celebrated a favorable decision. Those were three of today’s best stocks.
Nike Inc (NKE)
NIKE stock laced up its sneakers and sprinted up 4.3% today to an all-time high after late on Thursday reporting fourth-quarter earnings of 98 cents a share on revenue of $7.8 billion, besting analysts’ estimates for 83 cents a share on $7.7 billion.
It was the increase in revenue, especially with currency fluctuations that really impressed Wall Street. Nike’s good quarter also boosted sports retailer Finish Line Inc (FINL), which also bested analysts’ estimates in its most recent quarter.
Opko Health Inc. (OPK)
OPK stock was rising 3.6% today after the National Cancer Network decided to include Opko’s 4Kscore in its guidelines for early detection of prostate cancer as a recommended test. The 4Kscore is a blood test that identifies a patient’s risk for aggressive prostate cancer.
The NCCN determined that the 4Kscore should be utilized either before a first prostate biopsy or after a negative biopsy.
OPK stock has been on a roll since January, moving up from $10 to $19 before a recent pullback. It closed today at nearly $16.
Winnebago Industries, Inc. (WGO)
WGO shareholders were in the driver’s seat today after the manufacturer of recreational vehicles reported fiscal third-quarter earnings of 44 cents a share, 2 cents ahead of Wall Street estimates.
WGO’s revenue was $266.5 million, also ahead of the Street’s view for $261.4 million. An 11.4% increase in motor home shipments was the catalyst for the revenue surprise.
On June 17, WGO’s board of directors approved a quarterly dividend of 9 cents a share, payable Aug. 5 to shareholders of record as of July 22.
WGO stock gained 8.4% on the day.
As of this writing, Ethan Roberts does not hold a position in any of the aforementioned securities.
