The stock market managed to bounce back modestly today from the previous session's losses. With attacks on Saudi oil facilities over the weekend, Monday's big surge in energy prices had ramifications across the financial markets. Today, investors took a step back to assess the likely impact of more expensive energy products on the broader global economy. Meanwhile, some companies got a lot of attention after various news items sparked optimism. Apogee Enterprises (NASDAQ: APOG), Zscaler (NASDAQ: ZS), and Enphase Energy (NASDAQ: ENPH) were among the top performers. Here's why they did so well.
Shares of Apogee Enterprises climbed 11% after the architectural glass and services specialist reported its second-quarter financial results. Sales eased lower by around 1% from year-ago levels, and adjusted earnings per share dropped about 3%. Yet CEO Joseph Puishys celebrated what he called "significant year-over-year improvements" in the key architectural glass segment, and backlogs continued to build in the architectural services business. Apogee also sees a healthy remainder of the fiscal year, and that helped reassure investors who had worried that it might be vulnerable to a downturn in the economy.
Image source: Apogee Enterprises.