THO - Why Thor Industries Dova Pharmaceuticals and Bed Bath & Beyond Jumped Today
Monday was a solid day on Wall Street, as market participants seemed to be more optimistic that contentious issues affecting stocks will reach resolutions. In particular, a calming of tensions between the U.S. and China seemed to ease investors' nerves, especially after fears that Washington might make efforts to try to proscribe trading of Chinese stocks on U.S. exchanges. Some good news on the corporate front also lifted the mood. Thor Industries (NYSE: THO), Dova Pharmaceuticals (NASDAQ: DOVA), and Bed Bath & Beyond (NASDAQ: BBBY) were among the top performers. Here's why they did so well.
Shares of Thor Industries climbed 16% after the recreational vehicle specialist reported strong results in its fiscal fourth quarter. Revenue was higher by 23% compared to the year-ago period, lifted primarily by the company's acquisition of Erwin Hymer Group earlier this year. Net income rose year over year, and Thor was also enthusiastic about the extent to which independent RV dealers have worked through a previous inventory glut. Thor sees positive signs that strong demand is returning to the industry. As travelers continue to look for ways to save on costs, RVs represent good value, and Thor hopes that sentiment will drive buyers to make more purchases.
Image source: Thor Industries.