Stock Market News: These 2 Coronavirus-Resistant Stocks Are On the Rise
Tuesday morning brought some relief for investors, as major benchmarks gained ground even though the beginning of earnings season didn't exactly go according to plan. Big banking institutions were among the first to announce their first-quarter results, and disappointing profits raised concerns about the outlook for the industry throughout 2020. Yet that still didn't hold back the rest of the market. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 447 points to 23,838. The S&P 500 (SNPINDEX: ^GSPC) rose 62 points to 2,824, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 248 points to 8,441.
The companies that have done the best lately have business models that are able to weather the impacts of the coronavirus pandemic, and their shares are reflecting that success. For Roku (NASDAQ: ROKU), having lots of people stuck at home means more viewing that could produce more revenue. For Shopify (NYSE: SHOP), the need for businesses of all types and sizes to establish an online presence has never been greater.
Shares of Roku rose 9% Tuesday morning after the company announced its preliminary first-quarter financial results. The streaming television provider has seen some positive trends during the coronavirus pandemic that speak well to its future prospects.
Source Fool.com
