Against the current: Markets slid, yet New Relic, Inc., The New York Times Company, Fortinet Inc went up and made this list of yesterday's top stocks gainers.
Leading equity indices in the US declined as Nasdaq lost 1.68% and ended the session at 11,900. S&P 500 slipped 1.11% and closed at 4,118.
This downslide might be related to financial indicators data published earlier as Crude Oil Inventories in United States fell short of market expectations (2.46 million) with a reading of 2.42 million, continuing the decline from the previous figure of 4.14 million.
Even though markets fell yesterday, some stocks were bullish. Have a look at these Top Gainers from yesterday's session:
+10.9%: Fortinet levels up 10.9% in yesterday's session; traders eye opening bell in 4 hours time
After closing yesterday at $59.64, the cybersecurity provider peaked at $61.45 before giving up early gains and closing at $59.64. The company has a market cap of $46.59 billion with an average daily trading volume of 6.31 million shares. So far this year, it has been outperforming the S&P by 19%.
Fortinet reported earnings results Tuesday, with EPS at 0.38 and revenues at $1.28 billion; these results are mixed when compared to a consensus of 0.32 Earnings Per Share and $1.29 billion revenue. Since the release of its earnings report, Fortinet gained 14.71%.
The New York Times | Up 12.04% to $41.13 yesterday
After having closed Tuesday at $36.71, the global news vendor rallied above $42.4 yesterday, for the first time in 9 months — gaining $4.42 — and closed at $41.13. This year has been a bright one for the US mass media company after trading as low as $27.9 and going on to appreciate by 28.22% year to date. The company's market cap currently stands at $6.77 billion with an average daily trading volume of 1 million shares.
Voya | Up 8.85% to $74.8 yesterday
Having ended Tuesday at $68.72, Voya Financial came to a record high of $76.11 yesterday. Later, it lost $1.31 and closed at $74.8. The finance and retirement company reached a significant high of $74.8 around a day ago but has lost 8.13% since then. The company is currently trading with a market cap of $7.27 billion with an average daily volume of 1.67 million shares.
New Relic | Closed +18.46% at $76.5
The California-based technology company reached $80.88, breaking a 12 months record. Later, it lost $4.38 and is now trading at $76.5. The cloud-based software developer has gained 46% since its lowest print of $42.48 earlier this year. New Relic's market cap currently stands at $5.23 billion with an average daily trading volume of 608,669 shares.
New Relic released its quarterly earnings report Tuesday, beating analysts estimates. The company reported earnings of -0.28 per share on revenue of $239.76 million, topping estimates of -0.48 per share on revenue of $221.53 million. Since the release of its earnings report, New Relic gained 20.21%.