58 Stocks Hit Highs Wednesday; White House Sets 48 Hour Goal on Fiscal Stimulus Deal

Wednesday, October 21, 2020 2:06 PM | Nick Dey

During trading Wednesday, 58 stocks traded to a 52-week high, while 15 stocks bottomed out at new 52-week lows. The S&P 500 is up 0.02% on the day so far. Stocks started the day trading higher, but have since slipped with major indices trading on either side of neutral. Positive news from DC in regards to further economic stimulus drove gains earlier today, with the White House setting a goal for a deal to be met within the next 48 hours. It remains unclear at this time if Senate Republicans will pass the bill, as they plan to vote on a $600 billion stimulus plan regardless of the fact that they are well over a trillion dollars off the bipartisan plan emerging from the White House and the House of Representatives. Additionally, New York state added 2,000 new covid cases, their highest jump since May.

The following stocks traded to 52-week highs: ABG, ACA, ADM, AMRC, AN, APH, ATSG, AVTR, AVY, BLL, CALX, CDAY, CMBM, DHR, EL, ENPH, EVR, EXPD, EYE, FCX, FDX, GNRC, GPI, GTLS, IMMU, INSM, IPGP, JRVR, KKR, LECO, MKTX, MORN, MSTR, NFE, NKE, NTGR, NVRO, PAG, PAYC, PBI, PCTY, PHR, PINS, PJT, PYPL, SCCO, SFIX, SIVB, SNAP, SSTK, STAA, STNE, TCS, TKR, TMO, TWTR, UPS, ZBRA

The following Stocks traded to 52-week lows: AERI, ALEC, CVI, CXW, DSSI, EQC, GEO, HPR, ICPT, NOG, PDM, PGRE, SNDL, TK, XOGAQ

Technology: APH, CALX, CDAY, CMBM, ENPH, IPGP, MSTR, NTGR, PAYC, PCTY, STNE, ZBRA Technology stocks dominated our list of highs today with 12 out of the 58 total stocks that reached their high coming from the Technology sector. The Technology sector is up 0.18% so far Wednesday while the S&P 500 is up 0.02%. Tech stocks continue to outperform the market. Tech stocks have fallen 1.24% over the last 5 days, while the S&P has fallen 2.05%. APH is on highs after releasing a strong earnings beat this morning which saw the company post 1.16 EPS on estimates of 0.88 EPS. Meanwhile, CALX traded to highs following the company’s earnings release after-market close yesterday which saw the company post 0.4 EPS on estimates of .19 EPS.

Industrials: ACA, AMRC, ATSG, AVY, EXPD, FDX, GNRC, GTLS, LECO, PBI, TKR, UPS The Industrials sector had the second largest presence on our 52-week highs, with 12 out of 58 highs coming from the Industrials sector. The Industrials sector is down -0.63% so far Wednesday while the S&P 500 0.02% Industrials are lagging behind the market today, breaking their trend of outperforming the market. Despite today’s performance, industrials have outperformed the S&P over the last 5 days, falling 0.35% to the S&P’s fall of 1.96%. AVY reported earnings this morning, which saw the company comfortably beat analyst estimates, posting 1.91 EPS to consensus estimates of 1.5 EPS. Meanwhile, GTLS is on highs following being initiated at Cowen as an Outperform with a price target of $92 and in anticipation of tomorrow morning’s earnings release.

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