JKS - Why JinkoSolar Holding America's Car-Mart and Myovant Sciences Jumped Today
The stock market once again found itself lacking clear direction, with different indexes moving in opposite directions. Most of the same big-picture issues remained on investors' minds, and weakness in the retail sector weighed on the generally upbeat sentiment that market participants have had about the health of the American consumer. A few stocks were able to post sizable gains despite some of those concerns. JinkoSolar Holding (NYSE: JKS), America's Car-Mart (NASDAQ: CRMT), and Myovant Sciences (NYSE: MYOV) were among the top performers. Here's why they did so well.
Shares of JinkoSolar rose more than 10% after the solar panel manufacturer announced its third-quarter financial results. Revenue climbed 12% from year-ago levels during the period, and module shipments increased 13% to 3,326 megawatts. Adjusted net income soared by nearly half from the year-earlier quarter. CEO Kangping Chen believes that the report "marks a turning point for our business," as production costs continued to fall even as shipments rose. Low oil prices haven't helped renewable energy stocks lately, but JinkoSolar is making smart moves and sees brighter skies ahead.
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