Why HP, ArcelorMittal, and Sohu.com Jumped Today

The stock market posted solid gains on Friday, finishing the week on a positive note as major market benchmarks reached unprecedented heights. Market participants largely focused on the success of the U.S. economy, with the latest reading of consumer sentiment having hit levels unseen since the boom of the mid-2000s. Prospects for a favorable earnings season also lifted confidence among investors, and good news from individual stocks played a role in sending the overall market higher. HP (NYSE: HPQ), ArcelorMittal (NYSE: MT), and Sohu.com (NASDAQ: SOHU) were among the best performers in the market on the day. Let's take a closer look to see what made these stocks do so well.

HP finished the day up more than 6% in the wake of positive comments at its analyst day presentation on Thursday. The manufacturer of printers and PCs said it believes its bottom line for 2018 will be at the upper end of what investors have expected. CEO Dion Weisler said the company has made significant progress in turning itself around and that HP is more confident about its ability to focus on growth ideas in the coming year and beyond. HP is just one player in a highly competitive industry chasing some extremely lucrative ideas, but shareholders finally think the company can remain among the most important tech businesses in the market.

Image source: HP.

Source: Fool.com