Why LiLAC Group, Insys Therapeutics, and Synchronoss Technologies Jumped Today
The fourth quarter started on a positive note, with major market benchmarks picking up solid gains Monday. The Dow Jones Industrials closed up more than half a percent as market participants focused squarely on the fundamentals of the U.S. economy and the likelihood of a favorable start to earnings season in the next couple of weeks. But beyond the general upward market trend, some companies got particularly good news that sent their shares significantly higher. LiLAC Group (NASDAQ: LILAK), Insys Therapeutics (NASDAQ: INSY), and Synchronoss Technologies (NASDAQ: SNCR) 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.
LiLAC Group rose about 6% after the tracking stock for billionaire cable-television pioneer John Malone's operations in Latin America and the Caribbean earned favorable comments in Barron's over the weekend. The tracking stock has lost some value lately, and Hurricanes Irma and Maria did enormous damage in some of its markets. Yet the article noted that Malone has been buying back shares, and while it suffered damaged to its infrastructure, it would likely be compensated for much of that via insurance. With Malone planning to spin off LiLAC in the near future, the business should get a chance to demonstrate how well it can command its coverage area and produce long-term growth.
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Source: Fool.com
