Against the current: Markets slid, yet The Scotts Miracle-Gro Company, APA Corporation, Companhia Siderúrgica Nacional went up and made this list of yesterday's top materials stocks gainers.
Leading equity indices in the US declined as Nasdaq lost 1.73% and ended the session at 10,343. After dropping 1.06%, S&P 500 closed at 3,720.
Meanwhile, United States ISM Non-Manufacturing PMI (Oct) released yesterday at 14:00 UTC with a figure of 54.4, while the previous figure was 56.7.
Even though markets fell yesterday, some materials stocks managed to go up. Have a look at these top gainers.
APA, Apache | +6.89% at $47.29
After closing yesterday at $47.29, APA, Apache peaked at $47.88 before giving up early gains and closing at $47.29.
APA, Apache released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 1.97 per share on revenue of $2.89 billion, topping estimates of 1.78 per share on revenue of $2.34 billion. Since the release of its earnings report, APA, Apache gained 6.89%.
Companhia Siderurgica Nacional | +5.39% at $2.54
Approximately 7 months ago, Companhia Siderurgica Nacional reached a significant high of $5.71 but has struggled to hold onto its gains and declined 57.79% since then. So far in 2022, it has performed better than the Nasdaq by 9.82%. The company's market cap is $3.52 billion with an average daily trading volume of 4.19 million shares.
Scotts Miracle-Gro | +9.29% at $50.47
Scotts Miracle-Gro rose as high as $50.7 before giving up its gains and dropping back to $50.47 before the close on yesterday. Daily trading volume (1.46 million shares) increased, making up 129% of the 21-day average (1.14 million).
The company reported earnings of -2.04 per share Wednesday, falling short of expectations of -2.02. Revenue was also lower than expected at $493.6 million versus $519.87 million. Although earnings did not match projections, Scotts Miracle-Gro gained 8.87% since the release of its earnings report.