Stocks took it on the chin today after the U.K. voted to bail on the European Union, something that just one day ago seemed highly unlikely.
Richard Drew/Associated Press
As a result, the losses were huuuge.The S&P 500 fell 3.6% to 2,037.30, its largest drop since Aug. 24, 2015. The Dow Jones Industrial Average fell 611.21 points, or 3.4%, to17399.86, its largest one-day percentage decline since Aug. 24, 2015. The Nasdaq Composite tumbled 4.1% to 4,707.98, its largest drop since Aug. 8, 2011.
And those numbers don’t necessarily do the selloff justice, though this one might: 47 stocks in the S&P 500 plunged at least 8% today, more than the 39 that finished in positive territory. Can you say “nowhere to hide?”
Yet despite the carnage, the week wasn’t all that bad. The S&P 500 fell 1.6% this week, while the Dow Jones Industrial Average dropped 1.6% this week, and the Nasdaq Composite finished off 1.9% this week. In fact, the folks at Bespoke Investment Group say “we got off easy.” They explain why:
great investment stocks: Deltic Timber Corporation(DEL)
- [By Lisa Levin] Gainers
Aimmune Therapeutics Inc (NASDAQ: AIMT) shares jumped 35 percent to $34.64 in response to failed DBVT peanut allergy trial.
Exactech, Inc. (NASDAQ: EXAC) shares surged 30.9 percent to $41.88 after the company agreed to be acquired by TPG Capital for $42 per share in cash.
Dextera Surgical Inc (NASDAQ: DXTR) shares climbed 27.6 percent to $0.238 after surging 40.48 percent on Friday.
Petmed Express Inc (NASDAQ: PETS) jumped 21.8 percent to $44.73 as the company reported better-than-expected Q2 results.
SenesTech Inc (NASDAQ: SNES) shares surged 21.7 percent to $1.95 after the company disclosed that Univar will be marketing and selling ContraPest.
Yulong Eco-Materials Ltd (NASDAQ: YECO) shares gained 18.3 percent to $0.560.
One Horizon Group Inc (NASDAQ: OHGI) shares rose 18 percent to $1.18.
Atossa Genetics Inc (NASDAQ: ATOS) shares climbed 18 percent to $0.566. Atossa Genetics is schedule to host a conference call to announce preliminary results from Phase 1 study of oral Endoxifen on October 25, 2017.
ReneSola Ltd. (ADR) (NYSE: SOL) shares rose 15.3 percent to $2.72
Renren Inc (NYSE: RENN) shares gained 11.9 percent to $10.71 after gaining 2.68 percent on Friday.
Kalvista Pharmaceuticals Inc (NASDAQ: KALV) shares rose 11.8 percent to $12.59. KalVista Pharma 13D filing from Longwood Fund showed registration for an 8.7 percent stake.
Xunlei Ltd (NASDAQ: XNET) shares gained 9.4 percent to $7.20 after surging 25.33 percent on Friday.
VF Corp (NYSE: VFC) shares surged 7.1 percent to $71.09 after the company reported upbeat earnings for its third quarter and raised its FY2017 guidance.
CAI International Inc (NYSE: CAI) rose 6.6 percent to $39.70. Cowen & Co. upgraded CAI from Market Perform to Outperform.
Agenus Inc (NASDAQ: AGEN) shares gained 5.7 percent to $4.58 as the company disclosed that GSK's shingle vaccine received FDA approval.
Deltic Timber Corp (NYSE: DEL) shares climbed 5.6 percent to $94.11
great investment stocks: Williams-Sonoma Inc.(WSM)
- [By Peter Graham]
Mid cap home products retailerWilliams-Sonoma, Inc (NYSE: WSM) reportedQ1 2017 earnings after the market closed yesterday with shares up in the high single digits in aftermarket/premarket trading on better-than-expected quarterly results.Q1 net revenues increased to $1.112 billion from $1.098 billion as E-commerce net revenues increased 0.7% to $581 million as E-commerce net revenues generated 52.2% of total company net revenues in Q1 2017 and 52.5% of total company net revenues in Q1 2016. Comparable brand revenue increased 0.1% on top of 4.5% in Q1 2016:
- [By Lisa Levin]
Williams-Sonoma, Inc. (NYSE: WSM) shares dropped 15 percent to $44.94 after reporting third quarter results. The company also reported fourth quarter earnings guidance below estimates. Williams-Sonoma announced the purchase of 3-D imaging and augmented reality platform Outward, Inc. for $112 million.
- [By Ben Levisohn]
Williams-Sonoma (WSM) has gained 2.9% to $49.52 after reporting earnings that topped the Street consensus and raising its dividend.
Barrick Gold (ABX) has risen 1.5% to $19.30 after getting upgraded to Outperform from Sector Perform at RBC.
great investment stocks: City Holding Company(CHCO)
- [By Monica Gerson]
City Holding Company (NASDAQ: CHCO) is expected to report its quarterly earnings at $0.74 per share on revenue of $42.04 million.
Compass Minerals International, Inc. (NYSE: CMP) is projected to post its quarterly earnings at $1.33 per share on revenue of $347.03 million.
great investment stocks: Virtu Financial, Inc.(VIRT)
- [By Lee Jackson]
Virtu Financial Inc. (NASDAQ: VIRT) had a large buyer at the desk last week. TJMT Holdings, an investment vehicle for the founder and Executive Chairman Vincent Viola, bought a 50,000 share blockat $15.88 apiece. The total price for the trade was $794,345. The company provides market making and liquidity services to the financial markets worldwide. Shares closed last Friday at $15.95, in a 52 week range of$12.35 to $23.97, and the consensus price target is $16.31.
great investment stocks: Farmer Brothers Company(FARM)
- [By Matt Hogan]
Finbox.io fair value data (as of January 4) shows that there are only five US manufacturing stocks that have 25% or more margin of safety: Vera Bradley, Inc. (NASDAQ: VRA), Cooper Tire & Rubber Co (NYSE: CTB), Farmer Brothers Co. (NASDAQ: FARM), Allergan plc Ordinary Shares (NYSE: AGN) and Motorcar Parts of America, Inc. (NASDAQ: MPAA).
great investment stocks: RetailMeNot, Inc.(SALE)
- [By Lisa Levin]
Shares of RetailMeNot Inc (NASDAQ: SALE) got a boost, shooting up 12 percent to $8.42. RetailMeNot announced after Thursday’s close it has entered into an agreement to acquire GiftCard Zen, a secondary marketplace for gift cards. The company reported preliminary Q1 revenue of $54 million to $54.5 million and FY16 revenue of $228 million to $241 million.
- [By Demitrios Kalogeropoulos]
As for individual stocks, RetailMeNot (NASDAQ:SALE) and SUPERVALU (NYSE:SVU) attracted heavy investor interest following merger and acquisition news.