The markets were pushing against record highs again on Monday, with stock indexes up alongside a stronger dollar.
The NewsQuantified platform continues to consistently identify news events that manage to drive gains far in excess of broader market performance indicators.
Today we focus on a series of long plays emerging from the day’s earnings news.
1. Rex Energy (REXX): Up on positive news from a natural gas field.
Rex Energy provided an operational update on its Moraine Field, driving the stock up over 5% on the day. The company recently installed six new “shield wells” for ethane extraction, and today’s report revealed hoped-for results from the expanded production.
The 30-day sales rate for the new wells were in line with the company’s economic projections. Tangible earnings news continues to be the most reliable driver of price appreciation in this market environment.
2. Steelcase (SCS): Up on positive earnings news.
Steelcase is an American furniture manufacturer, and one of the world’s largest makers of office furniture, office architectural elements, and related items.
Steelcase reported revenues of $775.6 million, up 2% from $758 million the prior year. While diluted earnings per share remained steady, investors seemed buoyed by the news, buying the stock to the tune of 4%+ gains on the session.
3. Innoviva (INVA): up on FDA approval of a new product.
Pharmaceuticals continue to be common players in our top performer updates. The confirmation of future revenue represented by regulatory approval of new therapies continues to draw heavy volume in the current market.
The FDA approved INVA/GlaxoSmithKline’s new treatment for chronic obstructive pulmonary disease (COPD), a once-daily inhaler delivered treatment.
Innoviva gained modestly, only 2%, on the news, suggesting that substantial upside may remain over the next 90 days.
Diverse Plays, Great Profits: All in a single news day.
A powerful news analytics platform like NewsQuantified not only makes it easy to track the news, but to quickly compare news events with key financial information.
Today’s plays make the power of this news-based trading approach clear. No small investor could be expected to track all these companies, diverse across industry, market cap, and valuation.
Yet they were all at the top of a single easy to use dashboard in the NewsQuantified platform. We make it simple to find strong, diverse plays in any market environment.
Click here to sign up for a free training today. You’ll see how easy to use our platform really is—and how many profitable trades it can unlock.