News Column

Stocks Rally On Bargains as Michael Kors Holdings (KORS) Soars On Another Huge Earnings Beat

February 4, 2014

Michael Teague

Stocks rallied modestly in Tuesday's trading session as investors rushed in to snap up some of the discounts that were left in the wake of Monday's carnage. The Final Tally: Standard & Poor's 500: +0.85 percent to 1,756.69 Dow Jones Industrial Average: +0.55 percent to 15,458.05 Nasdaq: +0.92 percent to 4,033.79 Our Top Stories: Today's modest rally prompts George Brooks to ask a very simple but crucial question, how far can it go ? In the wake of Arthur Chu's success on the show, Joe Goldman takes a look at the most controversial Jeopardy champions . Jacob Harper discusses the prospects for clean fuel cell manufacturer Plug Power ( PLUG ) . The stock has been making impressive gains this year based on a number of factors. Michael Teague takes a peek at the Small-Cap Stars from the Basic Materials sector that are loved by analysts and funds alike . Furiex Pharmaceuticals ( FURX ) added over 140 percent in Tuesday trading. Joel Anderson has the details . On the S&P 500: Tech stocks rose on heavy volume, with Cisco Systems ( CSCO ) , Facebook ( FB ) , AT&T ( T ) and Yahoo ! ( YHOO ) all up about 2 percent. Financials and services were also higher by the closing bell, with Michael Kors Holdings ( KORS ) up over 17 percent after releasing another spectacular earnings report, and JPMorgan Chase ( JPM ) and Citigroup ( C ) also trading higher. On the Dow: The day's rally was least beneficial to the Dow, with industrial giants Boeing ( B ) and United Technologies ($UTX) down about one percent each. On the top end, however, pharmaceutical companies were the name of the game, with Merck & Co. ( MRK ) and Pfizer Inc. ($PFZ) both up 2.75 percent. On the Nasdaq: Plug Power Inc ( PLUG ) was one of the day's best performing tech stocks, with a gain of 15 percent, but the company was still behind semiconductor manufacturer ATMI Inc. , whose shares saw a 25 percent increase. Meanwhile, Zynga Inc. ( ZNGA ) extended it's rally, adding another two percent, while BlackBerry ( BBRY ) was up by almost six percent.


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Source: Equities.com


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