During trading Wednesday, 100 stocks traded to a 52-week high, while 3 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.73% so far today while the Dow is down 0.89%, the Nasdaq is down 0.7%, and the Russell 2000 is down 0.5%.
Stocks have been trading lower throughout the day, but seemingly took a nose dive following the Fed's rate decision. The Fed did the expected and held rates near zero, but seems to have surprised investors by projecting two rate hikes by the end of 2023.
Sector Highlights
Energy stocks dominated our list of highs today with 25 out of the 100 total stocks that reached their high coming from the Energy sector. The Energy sector is outperforming the market, decreasing 0.67% so far on the day. Over the last month the Energy sector has outperformed the market, increasing 4.75% while the S&P increased 1.74%.
Hess Midstream Partners (HESM) is continuing on highs after Monday's initiation at Goldman as a Buy with a price target of $30.
Energy: BPMP, CDEV, CEIX, CEQP, CLMT, CLR, COP, DCP, ENLC, HEP, HESM, HMLP, HP, MGY, MUR, NESR, NEX, OKE, OMP, PVAC, TALO, TRGP, WES, WHD, XOM
Healthcare had the second largest presence on our 52-week highs, with 23 out of 100 highs coming from the Healthcare sector. The Healthcare sector is outperforming the market today, increasing 0.2% so far on the day. Over the last month the Healthcare sector has underperformed the market, increasing 0.87% while the S&P increased 1.74%.
Kindred Biosciences (KIN) is on highs and is surging 45.19% to $9.20 a share after it was announced today that KIN will be acquired by Elanco Animal Health (ELAN) for $9.25 a share. Meanwhile, Protagonist Therapeutics (PTGX) is on highs after pricing an offering of 3,046,358 shares of common stock at $37.75 a share. Lastly, Centene (CNC) is on highs after the company reaffirmed its guidance range of $5.05-5.35 per share, with consensus estimates coming in at $5.23 per share.
Healthcare: ALXN, AMEH, BRKR, CDMO, CNC, IDXX, IQV, JYNT, KIN, LMAT, MTD, PAHC, PBH, PRTA, PTGX, RDNT, SEM, STAA, SUPN, SWAV, VREX, WAT, ZTS
The Lists
The following stocks traded to 52-week highs:
ALXN, AMEH, APO, AQUA, ARI, ATH, AVTR, AWR, BCOR, BGCP, BPMP, BRKR, BRMK, BX, CACI, CCEP, CCRN, CDEV, CDMO, CEIX, CEQP, CLMT, CLR, CNC, COP, CVLT, DCP, DZSI, EGLE, ENLC, EVRG, EXC, EXR, FCFS, FTAI, FTNT, GNK, GNRC, GOGL, HEP, HESM, HMLP, HP, IDXX, IQV, JYNT, KIN, KREF, LMAT
The following stocks traded to 52-week lows:
The following ETFs traded to a 52-week high:
