VRAY - Why Lands' End Audentes Therapeutics and ViewRay Jumped Today
Tuesday was a bad day on Wall Street, as major benchmarks fell sharply on news from the White House regarding trade. President Trump said that it might be better for the U.S. not to expect a trade deal with China until after the 2020 presidential election, throwing cold water on recent hopes that the two nations might reach an agreement on at least some of their issues of contention. Yet even though the overall market struggled, some companies announced good news that lifted their stocks. Lands' End (NASDAQ: LE), Audentes Therapeutics (NASDAQ: BOLD), and ViewRay (NASDAQ: VRAY) were among the top performers. Here's why they did so well.
Shares of Lands' End climbed 21% after the apparel retailer reported its third-quarter financial results. At first glance, the news didn't seem all that good, as revenue fell slightly year over year. However, those declines were due to the closing of several in-store Lands' End shops within Sears locations, and same-store sales for U.S. company-operated Lands' End locations were up 8.3% from year-ago levels. Despite facing weather issues, earnings per share climbed 10%, and projections for the fourth quarter looked favorable. The partnership between Sears and Lands' End didn't work out perfectly, but for its part, Lands' End looks like it'll be able to move forward.
Image source: Lands' End.