The stocks of the SPDR S&P 500 ETF (SPY) that made it to the top on Thursday, October 29, were Gannett (GCI), QEP Resources (QEP), and FMC Corp (FMC). These stocks rose 8.41%, 6.43%, and 6.0%, respectively, on the day.
Gannett (GCI) beat earnings expectations but missed on revenue consensus. The company announced its third-quarter earnings on Thursday, October 29, and reported earnings per share or EPS of $0.43 for the quarter versus estimated EPS of $0.37. It reported revenue of $701.20 million, compared to the analyst expectation of $726.60 million. The stock traded at $15.72, above its respective 50-day and 20-day moving averages, implying an uptrend in stock price performance. The analyst price target for the stock is set at $16.33, and we can expect the stock to achieve the target, given it has already crossed its 50-day and 20-day moving averages. The stock’s trading volume surged to 3,076,579 on Thursday, October 29, from its previous day volume of 1,603,821. GCI stock has earned five “buy,” six “hold,” and no “sell” recommendations.
The following chart shows the performance for Gannett (GCI) since August 2015.
QEP Resources (QEP) gained on Thursday following its strong third-quarter earnings reports, beating analysts’ expectation for its EPS. The company reported revenue of $536.7 million versus estimated revenue of $608.52 million. The EPS estimated was $-0.09, whereas the actual EPS reported was $0.01.
Stocks at the bottom
F5 Networks (FFIV) was downgraded to “sector perform” from “outperform” by RBC Capital, following the company’s quarterly result. The company’s fourth-quarter result reported an EPS of $1.84, above analysts’ expectation of $1.74 per share. However, the company missed its revenue target and reported $501.3 million versus an estimated $506.52 million. The company has also lowered its projections for the first quarter of 2016. Barclays (BCS) has rated the stock at “equal weight.”
Let’s look at the stock’s news as well as corporate earnings in the next part of this series.