Why Tyco International plc (Ireland) Ordinary Share (TYC), Wynn Resorts, Limited (WYNN), and Cray Inc. (CRAY) are 3 of Today’s Best Stocks

U.S. markets braved another rough day today, as oil dropped more than 7%, and market stalwarts Caterpillar Inc. (NYSE:CAT) and Goldman Sachs Group Inc (NYSE:GS) fell over 5% and 3% respectively.

Why Tyco International plc (Ireland) Ordinary Share (TYC),  Wynn Resorts, Limited (WYNN), and Cray Inc. (CRAY) are 3 of Today's Best StocksThe culprit du jour for oil was more nervousness about oversupply after Iraq reported producing a record amount of oil last month. By 3 p.m., crude oil was hovering just above the noteworthy $30 a barrel mark, but then slipped below it by day’s end.

Ironically, Goldman, which downgraded CAT from “neutral” to “sell”, causing it to slide, also fell even after Japan-based Nomura Holdings, Inc.(ADR) upgraded GS stock from “neutral” to “buy.” There were no major U.S. economic reports today.

The Dow Jones Industrial Average finished down 1.3%, while the S&P 500 and Nasdaq were both off 1.6%. Every sector finished lower for the day, with energy and basic materials weakest of all.

There was news of a big merger between companies from two different countries, helping to push shares of Tyco International plc (Ireland) Ordinary Share (NYSE:TYC) higher. That stock, along with Wynn Resorts, Limited (NASDAQ:WYNN), and Cray Inc. (NASDAQ:CRAY) are three of today’s best stocks.

Tyco International plc (Ireland) Ordinary Share (TYC)

A merger between Ireland-based TYCO and Wisconsin-based Johnson Controls Inc (NYSE:JCI) sent TYCO stock soaring today, up over 11% by day’s end. JCI stock was off nearly 4%.

Under the terms of the merger, a new company, to be named Johnson Control PLC, will be created and located in Cork, Ireland. However, the JCI headquarters in Milwaukee, WI, will continue functioning in a management capacity.

The CEO and chairman position will be assumed by, Alex Molinaroli, current CEO of Johnson Controls for the first 18 months, but will then be assumed by current TYCO CEO, George Oliver, while Molinaroli remains as executive chair for another 12 months. However, Molinaroli’s recent personal history has been questioned, so it remains to be seen if shareholders will continue to express support and confidence in having Molinaroli at the helm.

Wynn Resorts, Limited (WYNN)

WYNN stock was a 3% winner today amid news that CEO Steve Wynn has recently had a ravenous appetite for buying shares of WYNN stock.

In a three-day period between Jan. 20 and Jan. 22, Mr. Wynn increased his WYNN stock share total by purchasing $31.9 million in shares averaging $55.62. Mr. Wynn was also quite busy early in December, when he bought $63.9 million in shares with an average price of $63.61.

It would seem that WYNN’s CEO thinks rather highly of his own company’s prospects going forward.

Cray Inc. (CRAY)

Shares of CRAY stock bolted 10% higher after a new $36 million contract has been inked with the European Centre for Medium-Range Weather Forecasts.

Under the terms of the contract, CRAY will improve and expand their XC supercomputers and Sonexion storage system. The goal of the upgrades are to increase the accuracy of the European weather forecasts.

Today’s action helped CRAY stock to break through resistance at $36 that has held the stock back since the beginning of November. The stock ended the day at $36.51.

As of this writing, Ethan Roberts did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/01/tyco-international-plc-ireland-ordinary-share-tyc-wynn-resorts-limited-wynn-cray-inc-cray-3-todays-best-stocks/.

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