DVA - Why Boingo Wireless DaVita and Constellation Pharmaceuticals Jumped Today
Stocks finished Wednesday's session close to where they started, with major market benchmarks getting pushed and pulled by conflicting readings on the health of the U.S. economy and the 10-year-old bull market. Investors seem to be waiting for some positive catalyst to send indexes further into record territory, but some individual stocks saw nice moves higher on upbeat news. Boingo Wireless (NASDAQ: WIFI), DaVita (NYSE: DVA), and Constellation Pharmaceuticals (NASDAQ: CNST) were among the top performers. Here's why they did so well.
Shares of Boingo Wireless soared nearly 30% after the company reported its third-quarter financial results. Revenue eased lower by 1% compared to the year-earlier period, and the wireless provider still lost money, albeit less than it did 12 months ago. Yet investors were pleased to hear that Boingo extended a contract with the Army and Air Force Exchange Service for another 15 years through 2038, providing the service to more than 350,000 members of the military on 64 different bases. With greater demand for wireless availability in a wide range of public spaces, Boingo has a great opportunity to keep moving higher after going through tough times recently.
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