Why Tesla Motors Inc (TSLA), 3D Systems Corporation (DDD) and Lumber Liquidators Holdings Inc (LL) Are 3 of Today’s Best Stocks

U.S. markets struggled to find footing today, as comments from Fed chairwoman Janet Yellen disappointed the street, and crude oil gave back much of its gains from yesterday.

stock market todayIn remarks before the House Financial Services Committee, Yellen said that a December rate hike is a “live possibility”, but no decision has yet been made and would depend on the data that comes out before then.

Yellen also told Congress that banks are in a healthier state today than a few years ago, but that problems still remain. Two other Fed policymakers will also make presentations today.

In economic news, the ADP employment report showed the addition of 182,000 jobs by private companies in October. The key employment data will be out Friday morning. Also, after a strong day yesterday, Crude oil was off more than 3% to finish at $46.32.

The Dow Jones Industrial Average was off 0.3%, while the S&P 500 lost 0.4% and the Nasdaq, holding up a bit better, was flat on the day.

Earnings continue to drive stocks higher, even when those earnings aren’t meeting expectations. Such was the case with Tesla Motors Inc (NASDAQ:TSLA), 3D Systems Corporation (NYSE:DDD) and Lumber Liquidators Holdings Inc (NYSE:LL) all of which somehow managed to make the list of today’s best stocks. Surprised? Here are the details on how that happened.

Tesla Motors Inc (TSLA)

TSLA stock was a huge winner today even after the electric auto manufacturer reported disappointing third-quarter earnings after the bell on Tuesday.

Tesla announced a loss of 58 cents per share on revenue of $1.24 billion, while the street was looking for a loss of 48 cents a share with revenue of $1.26 billion.

But the main reason for the TSLA stock price jump was the forward guidance of 17,000 to 19,000 car deliveries for the fourth quarter, bringing growth in 2015 73%-93% higher than last year. Tesla said it expects the fourth quarter to be its best quarter ever.

Investors sent TSLA stock 11% higher, with 12.7 million shares traded.

3D Systems Corporation (DDD)

Even when a company misses the street’s estimates on earnings and revenue it can still see its stock price rise. Such was the case today, after DDD reported third-quarter earnings of 1 cent per share on revenue of $151.6 million.

Analysts had been expecting 7 cents per share for the quarter on revenue of $181.09 million, so both misses were significant.

However, traders still drove DDD stock price higher after Interim President and CEO Andrew Johnson told the street that despite being disappointed in the quarterly results, the company would take “decisive steps” to reduce its cost structure and continue looking for new opportunities and investments in new products.

As a result, DDD stock surged 10% higher on heavy volume.

Lumber Liquidators Holdings Inc (LL)

LL shareholders got a mix of good news and bad news, today. LL stock blasted 10% higher, despite missing estimates on both earnings per share and revenue, because the company also announced the appointment of a new CEO.

Early this morning, LL posted a loss of 31 cents per share for this quarter on revenue of $236.1 million. Both of these figures missed the analysts’ estimates for a loss of 18 cents per share on revenue of $259.77 million.

However, the beleaguered flooring retailer announced the appointment of John Presley as its new CEO, effective on November 16. Investors loved the sound of that and bid the shares up. Lumber Liquidator sales have slumped ever since the company was the subject of the March 1, 60 Minutes story reporting that the company was selling Chinese-produced laminate flooring that contained toxic formaldehyde.

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/tesla-motors-inc-tsla-3d-systems-corporation-ddd-lumber-liquidators-holdings-inc-ll-3-todays-best-stocks/.

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