ONON - These 2 Stocks Are Having Their Day in the Sun
2023-03-21 09:55:39 ET
Wall Street has been struggling to find a new comfort level in the midst of recent stresses to the banking system. Yet even with echoes of the financial crisis of 2008 and 2009 in their ears, market participants are working to get past their fears, and they hope that steps taken to restore confidence will work. The Dow Jones Industrial Average (DJINDICES: ^DJI) opened Tuesday morning higher by 300 points, or about 1%, showing the market's belief in a rebound.
There aren't many companies issuing earnings reports at this time of the quarter, but a couple of companies did see their shares rise sharply after releasing their financial results. Canadian Solar (NASDAQ: CSIQ) has been a key player in the solar panel space for a long time, while On Holding (NYSE: ONON) is a relatively new company in the athletic footwear business. Below, you'll see how both companies did and why their shares are rising in response.
Shares of Canadian Solar opened higher by 11% on Tuesday morning. The solar company reported fourth-quarter financial results that showed huge demand for its products.
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These 2 Stocks Are Having Their Day in the Sun