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Markets started strong today, looking forward to make up for the losses sustained yesterday. However, the trading session seems to be re-tracing its yesterday’s moves as NASDAQ slipped into red territory. However, other major indices such as Dow Jones and S&P are still in green. The indices are mainly supported by the stocks presenting favorable quarterly results. Home Depot and Dick’s Sporting Goods have reported good quarterly results and have provided optimistic outlook for the next quarter as well. So, let’s take a look at the stocks driving markets up today:
Clean Energy Fuels Corp. (NASDAQ:CLNE): The company reported buying GE liquid natural gas tech for liquefying natural gas. The news sent the stock soaring by 9.31 percent. The company stock is currently trading at $12.09. Clean Energy Fuels stock had opened at $11.40 and has traded in the range of $11.36 and $12.40 in the current trading session. Clean Energy Fuels stock commands Beta of 1.89. The company also reported that it is planning to borrow up to $200 million from GE. The funds will be used to buy two of the systems, each of which can produce 250,000 LNG per day. Clean Energy Fuels is involved in the business of providing natural gas to vehicle fleets. The company is mainly operational in the United States and Canada. It is based out of Seal Beach in California.
Halcon Resources Corp. (NYSE:HK): The company stock is currently trading at $5.91, up 10.04 percent from its previous close of $5.38. The stock had opened at $5.70 and has traded in the range of $5.6699 and $6.0289 in the current trading session. Halcon Resources stock commands the Beta of 0.77. The company recently reported its third quarter results. It also updated its guidance for the fourth quarter of the year. Halcon Resources earned $73.1 million in revenue for the third quarter, up from $24.2 million it had earned a year earlier. However, its net loss for the quarter stood at $0.9 million, down from $2.6 million in net loss it had reported in previous year quarter. The company is based out of Texas and was formed in 1987.
Dick’s Sporting Goods Inc. (NYSE:DKS): Dick’s Sporting Goods is currently trading at $51.09, up 4.91 percent from its previous close of $48.70. The stock is trading at the Price Earnings ratio of 24.48. It has traded in the range of $34.42 and $54.24 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $51.11 but above its 50 days moving average price of $50.84. Dick’s Sporting Goods stock is up on the news of its third quarter results. The company reported 21 percent increase in its net income for the third quarter of the year as it earned $50.1 million in net income. The company had earned $41.5 million in the corresponding quarter of the last year. Its revenue stood at $1.31 billion, up 11 percent. The company was expected to report its revenue at $1.3 billion. Dick’s Sporting Goods also provided outlook for the full year and it expects its net income for the year to stand in the range of $2.53 and $2.55 per share. Its earlier prediction was in the range of $2.47 and $2.51 per share.
The Home Depot Inc. (NYSE:HD): The stock is trading up after the announcement of its results. The company also provided rosy outlook for the fourth quarter. The Home Depot is currently trading at $63.81, up 4.33 percent from its previous close of $61.16. The stock is trading at the Price Earnings ratio of 22.89 and it has traded in the range of $62.31 and $64.43 in the current session. The company earned $947 million in net income for the quarter, while its figure for the corresponding quarter of the last year stood at $934 million. On per share basis, its quarterly net income stood at 63 cents, up from 60 cents per share it had earned last year. The company was expected to report 70 cents per share in income for the third quarter, while its net income, excluding one time charge, stood at 74 cents per share. Its revenue stood at $18.13 billion, up 4 percent, while it surpassed the consensus estimate of $17.92 billion in revenue. The stock is trading above its 20 days moving average price of $63.62 and 50 days moving average price of $63.75.
