During trading Thursday, 44 stocks traded to a 52-week high, while 5 stocks bottomed out at new 52-week lows. The S&P 500 is down -1% on the day so far while the Nasdaq is down 0.8% and the Dow is lower by 1.37%. Concerns over the likelihood of future economic stimulus are driving markets lower following the Trump administrations decision to pull out of negotiations. Additionally, covid-19 infections are on the rise in nearly every state and is resulting in and outperformance today by many of the stay-at-home stocks. Initial Claims for the week ending 11/07 were 709,000 and beat estimates of 740,000. In earnings, Transdigm Group (TDG) and Brookfield Asset Management (BAM) beat earnings estimates, while Energizer (ENR) missed.
The following stocks traded to 52-week highs:
ATUS, BHVN, CDAY, CDLX, CELH, DNLI, DVA, EIDX, FATE, FORM, FPRX, FTCH, GH, HALO, HVT, INSP, KOD, KRNT, KURA, MCFT, MNKD, MSTR, NSTG, NUAN, OCUL, OPRX, PACB, PAR, PLUG, PODD, PTGX, RARE, RCM, RGEN, RH, SHYF, STAA, SWAV, TMUS, TTGT, TWST, UPWK, VCYT, XPEL
The following Stocks traded to 52-week lows:
MNKKQ, NEBLQ, PACDQ, TEUM, TLRDQ
Healthcare: BHVN, DNLI, DVA, EIDX, FATE, FPRX, GH, HALO, INSP, KOD, KURA, MNKD, NSTG, OCUL, OPRX, PACB, PODD, PTGX, RARE, RCM, RGEN, STAA, SWAV, TWST, VCYT
Healthcare stocks dominated our list of highs today with 25 out of the 44 total stocks that reached their high coming from the Healthcare sector. Healthcare stocks are outperforming the market today, falling 0.43% so far today. Over the last month Healthcare stocks have been outperformed by them market, with the sector increasing 2.41% compared to the S&P’s growth of 2.75%. DNLI is on highs after H.C. Wainwright raised their price target for the company yesterday to $80, citiing developments in the company’s Phase 1/2 study of ETV:IDS in Hunter Syndrome. Meanwhile, FPRX is reaching highs after releasing their results from a Phase 2 FIGHT trial earlier in the week.
Technology: CDAY, FORM, MSTR, NUAN, PAR
The Technology sector had the second largest presence on our 52-week highs, with 5 out of 44 highs coming from the Technology sector. Tech stocks are outperforming the market today, trading lower today by 0.6%. Tech stocks have fallen behind the market over the last month, increasing 0.81% over the last month while the S&P grew 2.75%. NUAN announced a strategic partnership with Providence aimed at improving patient and caregiver experiences.
