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Why Del Taco Restaurants Inc (TACO), Harley-Davidson Inc (HOG) and Netflix, Inc. (NFLX) Are 3 of Today’s Best Stocks

With earnings tailwinds, these three stocks were stellar performers today

With investors focusing on earnings reports and speculation that the Federal Reserve will stick to its “lower for longer” policy on borrowing costs, stocks rose Tuesday, notching their best performance in several weeks.

Why Del Taco Restaurants Inc (TACO), Harley-Davidson Inc (HOG) And Netflix, Inc. (NFLX) Are 3 of Today's Best Stocks

The S&P 500 Index rose 0.61% while the Dow Jones Industrial Average added 0.42%. The Nasdaq Composite, meanwhile, advanced 0.85%.

On a strong day for stocks, Del Taco Restaurants Inc (NASDAQ:TACO), Harley-Davidson Inc (NYSE:HOG) and Netflix, Inc. (NASDAQ:NFLX) were among Tuesday’s stars.

Del Taco Restaurants Inc (TACO)

Shares of Del Taco, owner of the Mexican fast-food chain by the same name, jumped 8.8% on more than 10 times the average daily volume after delivering third-quarter results that beat expectations.

For the third quarter, TACO earned 13 cents a share compared with a year-earlier loss of 6 cents. Sales rose to $104.4 million, up from $82 million in the year-ago period. Analysts expected TACO to post sales of $102 million.

TACO said same-stores sales increased 6.7%. The company raised its full year revenue guidance to $446 million to $449 million from a prior range of $439 million and $449 million. Del Taco forecast EPS of 53 cents to 56 cents on same-store sales growth of 2.5% to 4.5%.

Harley-Davidson Inc (HOG)

Harley-Davidson Inc, maker of the namesake motorcycles, surged 9% on nearly triple the usual turnover after the company said a new engine is jump-starting sales. Wisconsin-based HOG said it expects to ship as many as 269,000 bikes this year.

HOG still faces tepid demand in the U.S. and the company has been paring its workforce to lower costs. HOG’s third-quarter sales declined more than 9% as shipments dropped 13%.

“Implied retail sales for the fourth quarter are much stronger than those of recent quarters, and management commentary regarding the reception of Harley’s new Milwaukee-Eight engine was very positive,” according to a note from David Beckel, an analyst at Sanford C. Bernstein & Co., obtained in an email to Bloomberg.

Netflix, Inc. (NFLX)

Shares of streaming entertainment content provider Netflix soared 19% on more than quadruple the usual volume after the company reported third-quarter subscriber additions that easily topped estimates.

NFLX said it added 3.2 million subscribers on international basis in the third quarter, which was more than 50% above what analysts expected. In the U.S., NFLX added 370,000 subscribers, well ahead of the estimate of 309,000.

Netflix said it plans to spend $6 billion on content next year, up from $1 billion this year. The bullish report from the company prompted upgrades from at least 10 brokerages, including Goldman Sachs.

At the time of this writing, Todd Shriber did not own any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/10/why-del-taco-restaurants-inc-taco-harley-davidson-inc-hog-and-netflix-inc-nflx-are-3-of-todays-best-stocks/.

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