ASAN - Hot Stocks: Grocery store highs; PWR jumps on M&A; ASAN rises on earnings; drug setback for ASMB
Food manufacturers and general-merchandise retailers have faced challenges recently, with supply-chain disruptions complicating their ability to provide forecasts for the tail end of the year. But what about retailers who sell food? As it turns out, they've done very well lately. Thursday saw notable gains among a handful of large grocery-store players. The advance sent Kroger (NYSE:KR), Albertson's Companies (NYSE:ACI) and BJ's Wholesale (NYSE:BJ) to fresh 52-week highs. Outside the grocery industry, Quanta Services (NYSE:PWR) was another notable new high on the day. The company got a boost from the announcement of a $2.7B accretive purchase. Asana (NYSE:ASAN) saw significant buying interest on Thursday as well. A strong earnings report prompted one of the day's biggest percentage advances. Earnings news had the opposite impact on SecureWorks (NASDAQ:SCWX). Share plunged after the firm missed revenue estimates and provided a disappointing forecast. Assembly Bio (NASDAQ:ASMB) represented another of the day's major losers.
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Hot Stocks: Grocery store highs; PWR jumps on M&A; ASAN rises on earnings; drug setback for ASMB