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Computer Sciences Spin-Off Put It at the Top of SPY

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Top stocks

Stocks at the top of the SPDR S&P 500 ETF (SPY) on November 30 were Computer Sciences (CSC), NRG Energy (NRG), and Newmont Mining (NEM). These stocks gained 8.4%, 6.4%, and 5.9%, respectively, on the day. The following graph shows the performance of Computer Sciences (CSC) and the Technology Select Sector SPDR ETF (XLK) since October 2015.

Computer Sciences (CSC) traded at $31.33 on Monday, November 30, which was above its 100-day, 50-day, and 20-day moving average values. The 100-day, 50-day, and 20-day moving average values of the stock are $27, $28, and $29, respectively. The stock’s market price above its moving averages points towards an upward trend in its stock price movement. At the same time, the analyst target price for the stock is set at $39.83, which suggests an upward potential growth of 27% in the stock price.

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Computer Sciences’ trading volume surged to 30,648,478 on Monday from 6,853,970 on the previous day after the company announced the spin-off of its public sector company, CSRA. The stock has earned five “buy,” ten “hold,” and no “sell” recommendations. S&P has rated the stock as “BBB+” with both S&P and Moody’s maintaining a “stable” outlook.

Barclays’ (BCS) optimistic review on gold production outlook for the coming year and its “strong operation” rating for Newmont Mining (NEM) lifted the stock to a 5.9% gain on November 30. The review also lifted the VanEck Vectors Gold Miners ETF (GDX) up 2.3% on the day.

Bottom stocks

Stocks at the bottom of the SPY on November 30 were Urban Outfitters (URBN), Under Armour (UA), and Brown-Forman (BF-B). These stocks yielded -5.3%, -3.9%, and -3.7%, respectively. The retail stocks got hit due to unimpressive sales on Black Friday and Thanksgiving, as mentioned in part two of this series.

For more insight into US equities, visit our US Equity ETFs page.

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