TRMB - Why Shares in Trimble Soared in December
2024-01-05 09:01:15 ET
Shares in positioning and workflow technology company Trimble (NASDAQ: TRMB) rose nearly 15% in December, according to data provided by S&P Global Market Intelligence . The move comes as the market took a brighter view of growth prospects in 2024 on the back of the potential for lower interest rates.
After almost hitting 5% in October, the 10-year Treasury yield has been in a steady downtrend that continued through December as the market began pricing in the potential for the Federal Reserve to cut interest rates in 2024. That's good news for companies with economically sensitive revenue streams.
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Why Shares in Trimble Soared in December