Why Polaris Industries, Corning, and Conn's Jumped Today
The stock market soared on Tuesday, with strong performances from two of the most influential companies in the Dow Jones Industrials powering that index to 200-plus-point gains during the day, though it ultimately closed slightly below that level. Other major benchmarks finished with more modest moves but still were higher, climbing in the wake of good results from cyclical companies seeing rebounds from poor conditions in past years. Although some of the biggest names in the market were among the best-performing stocks, a host of other companies also contributed to the good mood on Wall Street. Polaris Industries (NYSE: PII), Corning (NYSE: GLW), and Conn's (NASDAQ: CONN) 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 Polaris Industries revved upward by 15% after the company reported its third-quarter financial results. The maker of motorcycles and recreational motor sports equipment enjoyed a huge uptick in sales of its off-road vehicles and snowmobiles, helping to offset negative pressure from Polaris' decision to wind down its Victory Motorcycle division. Net income was also sharply higher, and CEO Scott Wine called the results "a testament to the power of the Polaris brand, the strength of our dealer network, and the competitive drive of the Polaris team." Even with Victory gone, Polaris sees its Indian Motorcycle brand picking up the pace going forward, and a recovery from a recall-plagued off-road vehicle segment could finally have Polaris climbing higher.
Image source: Polaris Industries.
Source: Fool.com
Corning Inc. Stock
With 15 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 39 € there is a slightly positive potential of 4.38% for Corning Inc. compared to the current price of 37.37 €.
