SAM - These 2 Stocks Are Soaring Friday After Earnings
The stock market stumbled into Friday on a negative note, with early gains giving way to modest losses by the late morning. Market participants continued to watch Washington to see whether lawmakers would be able to reach a consensus on spending more money toward supporting the economy, but there wasn't progress that was immediately evident. Shortly before noon EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 89 points to 28,275. The S&P 500 (SNPINDEX: ^GSPC) eased lower by 3 points to 3,451, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 44 points to 11,462.
Yet that didn't stop a couple of stocks from producing big gains following their most recent quarterly earnings reports. Boston Beer (NYSE: SAM) has been a crowd favorite recently, and its stock pushed above the $1,000-per-share mark for the first time ever after another strong quarterly report. Meanwhile, raw materials provider Cleveland-Cliffs (NYSE: CLF) also pushed ahead after telling investors how it did over the past three months.
Shares of Boston Beer got a big lift on Friday, rising 15%. The brewing company famous for the Samuel Adams brand has seen a lot of success lately, and despite the company's name, beer hasn't really been the designated driver of the stock's big gains.
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These 2 Stocks Are Soaring Friday After Earnings