uploads///Nvidia versus Avago Technologies

Nvidia Tops SPY on Rating Upgrade


Nov. 10 2015, Updated 10:12 a.m. ET

Top and bottom stocks

As stated in Part 1, stocks at the top of the SPDR S&P 500 ETF (SPY) on Friday, November 6, 2015, were Nvidia (NVDA), Monster Beverage (MNST), and Teradata (TDC). These stocks rose 13.9%, 13.6%, and 12.7%, respectively, that day.

Nvidia (NVDA) reported its quarterly earnings on late Thursday, November 5. The earnings beat analysts’ expectations. For the third quarter, the company reported earnings of $0.46 per share compared to the forecast $0.25 per share and revenue of $1.3 billion compared to the forecast $1.2 billion revenue.

Research analysts at MKM Partners upgraded NVDA stock from “neutral” to “buy” on November 6. The analysts also raised the earnings per share expectations for 2016.

Nvidia’s peer Avago Technologies (AVGO) rose 7.1% on November 6. The graph below compares the price movement of the stocks since July 2015.

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Nvidia (NVDA) traded at $31.55 on November 6. It had already crossed its respective 100-day, 50-day, and 20-day moving averages. The trailing one-week and one-month returns of the stock were 11.2% and 21.3%, respectively, as of November 6. The trading volume of the stock rose to 29,306,777 shares from the previous day’s shares of 11,969,974.

Stocks at the bottom of SPY on November 6 were TripAdvisor (TRIP), Freeport-McMoRan (FCX), and Ventas (VTR). These stocks yielded -6.9%, -6.4%, and -6.2%, respectively, that day.

TripAdvisor (TRIP) fell on Friday, November 6, due to an earnings miss by the company. For the quarter ended September 2015, the company reported earnings per share of $0.53 and revenue of $415 million. The forecast values for earnings per share and revenue were $0.55 and $430.2 million, respectively, that day.

Other key stocks

Drug companies Endo International (ENDP) and Mallinckrodt (MNK) rose 7.0% and 5.1%, respectively, on November 6. Healthcare facilities Universal Health Services-B (UHS) and Tenet Healthcare (THC) returned 2.4% and 5.1%, respectively, that day.

Next, let’s take a look at the UK stock market as of November 6, 2015.


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