These 2 Stocks Didn't Wait for the Fed to Move Higher
Across Wall Street, many investors are waiting with bated breath for the latest pronouncement from the Federal Reserve on monetary policy. What had seemed to be a certain boost in interest rates now seems less certain, because the Fed has to consider the potential impact of further rate hikes on the banking system. That had markets largely in a holding pattern early Wednesday, with futures on the S&P 500 (SNPINDEX: ^GSPC) showing little change in premarket trading.
Yet for most companies, Fed policy isn't as important as how their businesses are running. That's why shares of Winnebago Industries (NYSE: WGO) and Ollie's Bargain Outlet (NASDAQ: OLLI) moved higher early Wednesday, as the two companies reported solid financial results that pointed to continued success regardless of what the central bank might choose to do with monetary policy. Read on to get the details.
Shares of Winnebago Industries traded higher by about 4% in premarket trading. The maker of recreational vehicles and other leisure transportation products reported fiscal second-quarter financial results for the period ending Feb. 25, and investors largely liked what the company had to say despite seeing evidence of ongoing macroeconomic pressures.
Source Fool.com
