During trading Friday, 14 stocks traded to a 52-week high, while 245 stocks bottomed out at new 52-week lows. The S&P 500 is down 1.01% so far today while the Dow is down 1.13%, the Nasdaq is down 0.64%, and the Russell 2000 is down 2.41%.
Stocks are lower Friday afternoon as turmoil in the banking industry continues to spook investors and spark recession concerns. First Republic Bank (FRC) is down 24.22% despite a consortium of 11 major banks depositing $30 billion in an effort to stabilize the banking industry.
Economic data came in lower than expected today. The preliminary March reading for the University of Michigan's Consumer Sentiment index showed 63.4, with both the current and future expectations indexes declining. Given that 85% of the respondents' answers came before the collapse of SVB, further erosion to sentiment is expected in the final reading. Meanwhile, Industrial Production remained flat month/month against estimates and a 0.5% rise and Capacity Utilization remained steady at 78%.
Lastly, FedEx Corp (FDX) is up 8.47% after the parcel delivery company topped earnings estimates and raised its full-year earnings guidance range above consensus. FedEx attributed the raised outlook to strong cost-cutting measures in the face of weaker demand.
Technology stocks dominated our list of highs today with 7 out of the 14 total stocks that reached their high coming from the Technology sector. The Technology sector is outperforming the market and is flat so far on the day. Over the last month, the Technology sector has outperformed the market, increasing by 0.32% while the S&P decreased by 4.52%.
Technology: ALTR, CDNS, DAKT, NSIT, PDFS, RELY, YEXT
The Healthcare sector makes up the majority of our 52-week lows, as 58 out of our 245 lows come from the Healthcare sector. The Healthcare sector is outperforming the market today, decreasing 1.27% so far on the day. Over the last month, the Healthcare sector has outperformed the market, decreasing 3.72% while the S&P decreased 4.52%.
Healthcare: ABSI, ADCT, AFMD, AKYA, ALEC, ALHC, ALLO, AMED, ARWR, ATNX, BAX, BHG, BLI, BNGO, BVS, CARA, CCCC, CDXS, CNC, CRBU, CUTR, DTIL, EBS, EVLO, FIXX, PIII, FREQ, GOSS, HALO, ICAD, INO, ITOS, KZR, LIFE, LFCR, LPTX, MGTX, NKTR, NVTA, ORGO, PGEN, PLXP, RUBY, SGMO, SMLR, SYRS, TCDAQ, PEAR, TOI, TSHA, VBIV, VERU, WRBY, BBLN, IOBT, QTNTQ, SIEN, SLDB
The following stocks traded to 52-week highs:
AAC, AAWW, ALTR, CDNS, DAKT, HSY, MKTX, NSIT, OSH, PDFS, RELY, YEXT, NVR
The following stock recently reported earnings and is at a 52-week high:
The following stocks traded to 52-week lows:
AAP, AAT, ABR, ABSI, ACI, ACRE, ADCT, ADV, AFMD, AIZ, AJX, AKYA, ALEC, ALHC, ALL, ALLO, ALTO, AMBP, AMED, APEI, ARE, ARQQ, ARVL, ARWR, ASPN, ASTR, HLGN, ATNX, ATUS, AUID, AVYAQ, BAC, BANC, BAX, BBIG, BCOV, BDN, BHG, BIG, BKU, BLI, BLND, BLNK, BNGO, BRDG, BRDS, BVS, BXMT, BXP, CAMP, CARA, CASA, CCCC, CDLX, CDXS, CEQP, CFR, CIO, CNC, CNSL, CPT, CRBU, CSTE, CURO, CUTR, CUZ, CYXT, CZOO, DAR, DBD, DEA, DEI, DHX, DIBS, DISH, DLX, DNB, DTIL, DXC, DZSI, EBS, ESRT, ETRN, EVA, EVLO, EYE, FARO, FCNCA, FIXX, FNF, PIII, FOSL, FPI, FREQ, FUBO, FUV, GLDD, GLOB, GOOD, GOSS, GRPN, GTLS, GTN, HA, HALO, HIW, HNST, HPP, HRL, HT, HUDI, HYZN, ICAD, IHRT, ILPT, INN, INO, GETR, ITOS, JBGS, JOAN, KIM, KRC, KREF, KRNT, KZR, LAND, LC, LEG, LESL, LIFE, LOCL, LILM, LL, EGIO, LNC, LFCR, LPSN, LPTX, LUMN, LYLT, MAPS, MBI, MGTX, MMAT, MNTK, MNTS, MQ, NAK, NCMI, NFE, NKTR, NMRK, NNBR, NOVA, NVTA, NWL, ONDS, ONEW, ONL, OPI, ORGO, PDM, PEAK, PGEN, PGRE, PLBY, PLUG, PLXP, PRPL, PX, QRTEA, RC, RIVN, RKLYQ, RUBY, RUN, RXT, SABR, BRCC, SBGI, SBRA, SGMO, SLG, SMLR, RGTI, SNV, SOI, SPWR, SSP, STRC, STWD, SUNL, SMR, BOXD, SYRS, TCDAQ, TCPC, TG, TGNA, THG, PEAR, TLS, TOI, TSHA, TTI, TUP, UDMY, UIS, UMH, UNFI, UNIT, UPLD, VBIV, VERU, VNO, WMS, WRBY, WRK, XMTR, QBTS, ZEV, ZUMZ, ATLC, ATTO, BBLN, CPLP, CSR, DLHC, DMS, ELMSQ, GRNT, EQBK, FCUV, FISI, SWVL, INVE, IOBT, CXAI, PETZ, PFSW, QTNTQ, RM, SIEN, SLDB