Why Blue Apron Holdings, Tailored Brands, and Epizyme Jumped Today
Friday was a positive day for the stock market, as the Dow climbed to another record high and led the way to modest gains across the board for the major benchmarks. The White House increased pressure on North Korea, citing the recently passed tougher sanctions from the United Nations even as North Korea launched another missile test. Yet market participants seemed to react more favorably to tepid economic data on U.S. retail sales, which signaled that the Federal Reserve might be less likely to do another interest rate increase before the end of 2017. Some companies also had good news that lifted their share prices, and Blue Apron Holdings (NYSE: APRN), Tailored Brands (NYSE: TLRD), and Epizyme (NASDAQ: EPZM) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Blue Apron Holdings gained 8%, bouncing back from extensive losses since the company's initial public offering earlier this year. The meal-delivery specialist has sought to reassure investors that it can compete even in a tough industry. Reports also indicate that Blue Apron will move forward with plans to expand its product offerings, adding more new recipes for its standard two-person plan and allowing customers to choose different meal configurations without facing limits. Blue Apron customers will also be able to change the number of meals they order each week, giving them greater flexibility. The move won't necessarily address some of the structural concerns that some investors have, but it will show that Blue Apron is at least trying to engage its customer base more effectively.
Image source: Blue Apron.
Source: Fool.com
