After pulling back during the day, the S&P 500 and Nasdaq hit fresh closing highs- and the Nasdaq hit a trading high of 19,486.15. Just past 4 pm ET the$S&P 500 Index (.SPX.US)$climbed 0.05%, the$Dow Jones Industrial Average (.DJI.US)$fell 0.17%, and the$Nasdaq Composite Index (.IXIC.US)$climbed 0.40%. MACRO JOLTS job openings from the Bureau of Labor Statistics came in at 7.74M, higher than last month's number, but ever since Ap...
Core & Main's high P/E ratio is due to investors' anticipation of robust future growth. The company's excellent earnings outlook is driving its high P/E. Investors believe the risk of earnings decline isn't significant enough to warrant a lower P/E ratio.
Core & Main's acquisition of Dana Kepner is seen as a chance to broaden its geographic reach, diversify its product and service offerings, and incorporate key talent. The merger is expected to provide the water and wastewater industry with unparalleled service.
Gapping up In reaction to earnings/guidance: •$Bowlero (BOWL.US)$+3.4% Other news: •$Intellia Therapeutics (NTLA.US)$+10.8% (Interim Clinical Data for its Second Systemically Delivered Investigational CRISPR Candidate, NTLA-2002) •$Gogo Inc (GOGO.US)$+5% (Repurchases 1.5 million shares of common stock from BlackRock) •$ADC Therapeutics (ADCT.US)$+2.9% (ADC Therapeutics and Swedish Orphan Biovitrum AB (BIOVF) confirms positive CHM...
Gainers: •$Clovis Oncology (CLVS.US)$+40.6% (Rubraca significantly improves progression-free survival in first-line maintenance treatment in women with ovarian cancer regardless of their biomarker status in phase 3 athena-mono trial) •$Dare Bioscience (DARE.US)$+13.61% (Organon and Dar Bioscience have entered into an agreement whereby Organon will license global rights to XACIATO) •$KULR Technology (KULR.US)$+9.5% (secured a battery sa...
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