Modest Initial Gains, Lasting Upside: Top Performers for 9/21

Markets fell on Thursday after several days of consecutive gains, bouncing slightly below their record highs.

The resulting Top Performers had modest initial gains by NewsQunatified standards, but remember, research suggests stock news events drive market-beating returns for up to 90 days (for positive events; 30 days for short plays). Muted initial gains may only suggest remaining upside over the longer 30-day window.

Today, we focus on long plays based on positive news events.

1.    Tahoe Resources (TAHO): Up on positive gold mining reports.

TAHO Chart

Tahoe Resources, a mining company, gained 2% quickly when they reported an upward revision to their 2017 estimates for gold production, from 400,000 to 450,000 ounces. Tahoe Resources continues to restrict cash outlays and strengthen its balance sheet due to ongoing operational issues at one of its principal mines. Investors thought today’s report suggested a successful operational consolidation in the face of uncertainty.

2.    iStar Corporation (STAR): Completes capital markets strategy.

STAR Chart

iStar Corp.’s stock jumped immediately upon news that they have successfully completed their capital markets strategy; they were immediately upgraded by all of the Big 3 rating agencies.

This overall strategy was intended to shed debt and strengthen iStar’s overall earnings situation. Its successful completion, and the associated ratings upgrade, will allow STAR to remain financially nimble in the coming years.

STAR is a US real estate investment firm.

3.    General Dynamics (GD): Wins $5 billion contract from US Government


General Dynamics Electric Boat Corporation, a subsidiary of US defense contracting giant GD, won a $5 billion dollar cost-plus contract to complete development of Columbia-class ballistic missile submarines. Work is expected to be completed in 2021.

Uniquely, the project was not competitively bid: only General Dynamics Electric Boat currently has the requisite nuclear ballistic missile submarine design/engineering workforce necessary to support such a complex development effort. This capability bodes well for GD’s future revenue, though investors’ initial response has been muted.

Diverse Plays, Great Profits: All in a single news day.

A powerful news analytics platform like NewsQuantified not only makes it easy to track the news, but to quickly compare news events with key financial information.

Today’s plays make the power of this news-based trading approach clear. No small investor could be expected to track all these companies, diverse across industry, market cap, and valuation.

Yet they were all at the top of a single easy to use dashboard in the NewsQuantified platform. We make it simple to find strong, diverse plays in any market environment.

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