Earnings Disappoint Stock Market Investors, but 1 of These Stocks Is Primed to Bounce Back
The stock market was generally higher on Wednesday, with some signs that market participants were willing to rotate back into higher-risk growth stocks. As of 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) had actually inched lower by 8 points, reflecting the higher concentration of lower-risk value-oriented stocks among its 30 components. However, gains elsewhere were more convincing, as the S&P 500 (SNPINDEX: ^GSPC) climbed 24 points to 3,982 and the Nasdaq Composite (NASDAQINDEX: ^IXIC) soared 220 points to 13,266.
Part of the reason for the somewhat mixed performance in pockets of the market was that a couple of highly regarded and much-followed companies released earnings reports that apparently didn't satisfy all of their shareholders. Both BlackBerry (NYSE: BB) and lululemon athletica (NASDAQ: LULU) saw their share prices fall significantly following their respective reports, but in at least one of those cases, long-term investors should feel comfortable about what's to come.
Shares of BlackBerry fell almost 10% on Wednesday morning. The once pioneer of mobile devices and current security software platform provider showed investors just how difficult the past year has been, and shareholders didn't seem all that optimistic about future prospects for BlackBerry either.
Source Fool.com
