Posted 01/31/2014 06:49 PM ET
Leading stocks held up despite a highly volatile week in the market, as the IBD 50 index capped the week with a 1.9% gain, outperforming the Nasdaq, S&P 500 and Dow.
Big moves by leaders were fueled primarily by better-than-expected earnings reports.
Facebook (FB) rose 2% Friday to a new high, extending its 14% Thursday jump in heavy trade after reporting fourth-quarter results that topped views. The social network said mobile accounted for more than half of its ad sales.
Shares, which had stalled since clearing a 54.93 buy point of a cup-shaped base on Dec. 17, bounced off their 10-week moving average and are now 14% above the entry.
Under Armour (UA) notched another new high Friday after leaping 23% the prior day in massive volume. The stock surged off its 10-week line and is now 29% extended past an 83.92 buy point.
Before Thursday's open, the athletic apparel and footwear maker reported Q4 earnings and sales that sprinted past forecasts. Revenue growth of 35% was the best in nine quarters. It also offered a bullish revenue outlook for 2014.
Alexion Pharmaceuticals (ALXN) shot up 21% Thursday to a new high after its Q4 results came in above Street estimates. The biotech also boosted its 2014 earnings and sales guidance well above consensus views. Shares leapt off their 10-week line, rallying 25% past a 126.49 buy point.
Aspen Technology (AZPN) bolted 10% Friday to its highest level in more than 13 years. Late Thursday, the software provider reported fiscal Q2 profit that beat forecasts. The stock is now 24% extended from a flat-base buy point of 36.64, which it cleared in October.
Las Vegas Sands (LVS) staged a strong upside reversal Thursday to close 5% higher, reclaiming its 10-week line in the process. The casino operator's Q4 results fell short of views, due to weakness in Singapore revenue.
Rival Wynn Resorts (WYNN) rose 8% Friday, adding to a 4% gain in the prior session. After the close Thursday, the casino operator posted Q4 earnings and revenue above analysts' estimates. The stock rebounded off its first test of the 10-week line since a flat-base breakout past a 173.48 buy point in December.
Manitowoc (MTW) lifted 15% to a seven-year high in heavy volume. The crane maker reported Q4 EPS ex items that topped views. Shares surged off the 10-week line in their first visit to the support level since a December breakout.
Read More At Investor's Business Daily: http://news.investors.com/investing-inside-the-50/013114-688544-earnings-results-boost-ibd-50-index-to-weekly-gain.htm#ixzz2sEGgVoMR
Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook
No comments:
Post a Comment