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CF Industries Holdings: S&P 500’s Top Gainer on December 7

Val Kensington - Author
By

Aug. 18 2020, Updated 5:17 a.m. ET

Top gainers

The S&P 500’s top gainers on December 7 were:

  • CF Industries Holdings (CF) rose 4.6%.
  • Edison International (EIX) rose 4.4%.
  • Micron Technology (MU) rose 3.9%.
  • Edwards Lifesciences (EW) rose 3.6%.
  • Align Technology I (ALGN) rose 3.6%.
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CF Industries Holdings

CF Industries Holdings, which is a global leader in nitrogen fertilizer manufacturing and distribution, was the S&P 500’s top gainer on December 7. CF Industries started this week on a weaker note and fell to one-week low price levels on December 6. However, CF Industries regained strength on Thursday and rose to four-week high price levels.

CF Industries regained strength amid the materials sector rebounding on Thursday. In addition to this, the improved sentiment in nitrogen markets strengthened fertilizer stocks. The upward revision in CF Industries’ quarterly and yearly estimates also added strength to fertilizer stocks. Since November, CF Industries’ fourth quarter EPS (earnings per share) estimates have been revised up from -$0.15 per share to -$0.11 per share. The yearly EPS estimate changed from $0.53 per share to $0.35 per share.

On December 7, CF Industries rose 4.6% and closed the day at $38.22—the highest daily close since December 6. CF Industries is a part of the S&P 500 Materials sector, which rose 0.69% on December 7.

Next, we’ll discuss Edison International and Micron Technology’s performance on December 7.

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