GBX - 2 Stocks Making Big Monday Moves
2023-04-10 09:40:37 ET
The stock market has done reasonably well to begin 2023, but it's inevitable that investors have to deal with some downdrafts along the way. After a jobs report last Friday that suggested the employment picture in the U.S. remains strong, many market participants have now turned their attention to inflation data due out later this week. That sent markets lower to begin the regular trading session on Monday, albeit by relatively modest amounts of less than 1%.
Even with Wall Street coming back to work in a less-than-perfect mood, a pair of stocks vaulted out of the gate. Greenbrier (NYSE: GBX) isn't the best-known company, but its latest financial report showed strength in the transportation sector that could offer a positive reading on the broader economy. Meanwhile, Micron Technology (NASDAQ: MU) was also on the rise as investors were pleased to see a key competitor choose to cut back on production.
Shares of Greenbrier were up more than 9% on Monday morning. The maker of railcars and other transportation equipment reported fiscal second-quarter financial results for the period ended Feb. 28 that showed a dramatic bounce from poor performance a year ago.
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2 Stocks Making Big Monday Moves