Why Bank of America Corp (BAC), Nvidia Corporation (NVDA) and Weight Watchers International, Inc. (WTW) Are 3 of Today’s Best Stocks

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U.S. markets struggled to gain much traction on Friday after the Labor Department announced a stronger-than-expected employment report — increasing the likelihood of the Federal Reserve hiking interest rates in December. The U.S. added 271,000 new jobs in October, trouncing expectations for just 180,000 new jobs.

Why Bank of America Corp (BAC), Nvidia Corporation (NVDA) and Weight Watchers International, Inc. (WTW) Are 3 of Today's Best Stocks

The U.S. dollar was strong after the report came out, sending both gold and oil prices lower on the day. The Dow Jones Industrial Average finished 0.3% higher, while the S&P 500 was fractionally lower on the day. The Nasdaq was a bit stronger, up 0.4%.

The jobs report boosted the financial sector in general and helped explain why Bank of America Corp (NYSE:BAC) — along with Nvidia Corporation (NASDAQ:NVDA) and Weight Watchers International, Inc. (NYSE:WTW) — were among Friday’s best stocks.

Bank of America Corp (BAC)

BAC stock rose more than 3% today, joining the rest of the financial sector in heading higher on the strong jobs report. Other risers were Citigroup Inc (NYSE:C, +3.2%), Morgan Stanley (NYSE:MS, 4.5%) and JPMorgan Chase & Co (NYSE:JPM, +3%).

Bank of America was the subject of another important headline. A Bloomberg report said the bank plans to work on a prototype for low-cost automated investment advice (essentially, robo-advisory service) for Merrill Edge — a division of Merrill Lynch financial advisers that targets accounts under $250,000.

Another factor pushing BAC stock higher this week was the announcement on Tuesday that BAC will sell its money market fund to BlackRock, Inc. (NYSE:BLK). While terms of the deal were not disclosed, the money market fund has $87 billion in assets. That deal will close sometime in early 2016.

Nvidia Corporation (NVDA)

NVDA stock surged over 13% today after reporting third-quarter earnings of 46 cents a share on revenue of $1.31 billion after Thursday’s closing bell. Both numbers trounced the analysts’ estimates for 25 cents a share on $1.18 billion.

Nvidia also received an upgrade from MKM Partners to “buy” to “neutral,” and a price target of $36 per share. MKM raised its fiscal 2016 earnings estimates from 80 cents a share to $1.08 a share, and raised estimates for 2017 and 2018 from $1.17 and $1.10 a share, to $1.49 and $1.37 a share, respectively.

NVDA stock touched a high near $32 today, its highest price since 2008.

Weight Watchers International, Inc. (WTW)

WTW stock, which got a big boost from Oprah Winfrey’s 10% stake three weeks ago, was soaring 35% higher today after reporting third-quarter earnings of 39 cents a share, well above the Street’s 29-cent estimates. Although revenue fell 21% from a year ago, the $273.3 million number still beat the analysts’ view of $266.3 million.

In addition, WTW raised their EPS guidance for 2015 from a range of 57 cents to 72 cents to a range of 64 cents to 74 cents a share.

Analysts already are citing the “Oprah effect” in pushing up sales.

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/2015/11/bank-america-corp-bac-nvidia-corporation-nvda-weight-watchers-international-inc-wtw-3-todays-best-stocks/.

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