An oil supply glut, more post-Brexit angst regarding global growth and tumbling airline and financial services stocks were among the factors dragging on equities and other riskier assets Tuesday.
The S&P 500 lost 0.68% while the Dow Jones Industrial Average ended a four-day winning streak with a 0.61% loss. The Nasdaq Composite shed 0.82% to start the four-day trading week.
Although investors strongly preferred less risky assets Tuesday, Himax Technologies, Inc. (NASDAQ:HIMX), Johnson & Johnson (NYSE:JNJ), Netflix, Inc. (NASDAQ:NFLX) delivered noteworthy gains.
Himax Technologies, Inc. (HIMX)
Himax Technologies, Inc., the maker of display technologies, jumped 7.1% on volume that was more than 50% above the daily average after Nomura analyst Donnie Teng raised the firm’s rating on HIMX to “buy” from “neutral.” Nomura also trimmed its price target on HIMX to $9.70 from $10.30.
Teng highlighted HIMX’s involvement in augmented and virtual reality technologies and the firm’s exposure to Microsoft Corporation‘s (NASDAQ:MSFT) “HoloLens” headset technology, reports Barron’s.
Johnson & Johnson (JNJ)
Shares of Johnson & Johnson, a member of the Dow Jones Industrial Average, rose 0.81% even though the blue-chip index snapped a four-day losing streak. With company-specific news limited today, JNJ caught a bid with investors favoring defensive, lower-beta names Tuesday. JNJ is up more than 18% year-to-date and is one of a small number of stocks to hit a new high today.
Deutsche Bank recently highlighted JNJ as post-Brexit dividend idea. The bank has a $125 price target on JNJ. JNJ reports earnings on July 19.
Netflix, Inc. (NFLX)
Shares of Netflix, Inc. rose nearly 1.3% Tuesday after it was reported that Comcast Corporation (NASDAQ: CMCSA) subscribers will finally be able to access NFLX content via their set-top boxes.
NFLX has previously sought partnerships with cable providers, in the U.S. and internationally, to bring its content to more viewers. However, NFLX and CMCSA have not always had a strong relationship, making today’s announcement from the companies particularly notable.
CMCSA and NFLX did not reveal financial terms of the deal. Shares of CMCSA, one of the largest U.S. cable providers, finished lower.
As of this writing, Todd Shriber owned shares of JNJ.
More From InvestorPlace
