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Stocks Rally Friday; Consumer Sentiment Tops Estimates, Illumina Plunges

Friday, August 12, 2022 03:01 PM | Nick Dey
Stocks Rally Friday; Consumer Sentiment Tops Estimates, Illumina Plunges

During trading Friday, 45 stocks traded to a 52-week high, while 15 stocks bottomed out at new 52-week lows. The S&P 500 is up 1.35% so far today while the Dow is up 0.97%, the Nasdaq is up 1.73%, and the Russell 2000 is up 1.74%.

Stocks are higher Friday afternoon. Stocks are continuing to rally off of better-than-expected inflation data.

The University of Michigan's preliminary August consumer sentiment reading saw a higher than expected jump to 55.1, against estimates for a reading of 52.1 and following July's reading of 51.5. Consumer expectations rose sharply as the one-year ahead inflation outlook fell to 5%, the lowest reading since February of this year.

Illumina, Inc. (ILMN) is losing 8.9% after the genomics company missed earnings and revenue estimates. Illumina added to the negative sentiment with downside guidance for full-year 2022 due to macroeconomic challenges to growth.

Lastly, Payoneer Global Inc (PAYO) is up 20.16% after the company reported better-than-expected earnings and revenue. The financial services company boosted the report with upside full-year 2022 revenue guidance. The company now sees EBITDA of $30 to $35 million, after initially guiding a loss of $10 to $20 million.

Sector Highlights

Healthcare stocks dominated our list of highs today with 12 out of the 45 total stocks that reached their high coming from the Healthcare sector. The Healthcare sector is underperforming the market, increasing 1.1% so far on the day. Over the last month, the Healthcare sector has underperformed the market, decreasing 0.75% while the S&P increased 7.9%.

Healthcare: ALT, APLS, CAH, CHNG, CI, CNC, CPRX, KRTX, LQDA, RXDX, SIGA, SWAV

Financial Services had the second-largest presence on our 52-week highs, with 11 out of 45 highs coming from the Financial Services sector. The Financial Services sector is underperforming the market today, increasing 1.21% so far on the day. Over the last month, the Financial Services sector has outperformed the market, increasing 8.83% while the S&P increased 7.9%.

Financial Services: AJG, BCOR, CVBF, JWSM, KNSL, MTB, RGA, SCOA, TWND, UBSI, UNM

The Lists

The following stocks traded to 52-week highs:

AIV, AJG, ALT, APLS, BDC, CAH, CAL, CECE, CHNG, CI, CNC, CPRX, CSL, CVBF, DY, FIX, GWW, JWSM, KNSL, LNG, LQDA, LTC, MERC, MRTN, MTB, MTRN, MUSA, NEXT, NHI, ORA, RGA, ROLL, RXDX, SCOA, SIGA, SNPS, SWAV, TWND, UBSI, UNM, VICI, WMS

The following stocks recently reported earnings and are at a 52-week high:

BCOR, KRTX, SAIL

The following stocks traded to 52-week lows:

ARGO, ENJYQ, BBAI, HBIO, LAW, LYLT, MCW, FRGE, PIRS, PLXP, QDEL, SONO, TPC

The following stocks recently reported earnings and are at a 52-week low:

QUOT, RKLY

High & Low Streaks

The following stocks are trading at a 52-week high for the third consecutive day:

AIV, CPRX, CSL, DY, LNG

The following stock is trading at a 52-week high for the fourth consecutive day:

CI

The following stock has been trading at a 52-week high for five or more consecutive days:

CECE (5)

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