Friday was a down day on Wall Street, with major benchmarks giving back some of the gains they've enjoyed over the past week. Downbeat economic data out of China raised more questions about the health of the global economy, and as earnings season moved forward, some high-profile companies failed to give their shareholders the good news they'd hoped to see. However, there were some companies that bucked the trend and sent their stocks higher. Kansas City Southern (NYSE: KSU), State Street (NYSE: STT), and Holly Energy Partners (NYSE: HEP) were among the top performers. Here's why they did so well.
Shares of Kansas City Southern climbed 7% after the railroad specialist announced its third-quarter financial results. The company posted record revenue for the quarter, overcoming flat shipping volume by taking advantage of stronger pricing power. Kansas City Southern pointed to particular strength in the chemicals and petroleum segment, as well as solid growth in agriculture and minerals. Investors were also pleased with its 24% jump in adjusted earnings per share. Railroads have gone through ups and downs lately, but even with some questions about the future health of the U.S. economy, Kansas City Southern is showing a lot of promise.
Image source: Kansas City Southern.