Why Thor Industries, IXYS Corporation, and Kite Pharma Jumped Today

Activity on the stock market was muted today as investors focused on the damage left by Hurricane Harvey. The major benchmarks showed mixed results, but stayed close to where they started the day. Some market participants focused on several high-profile announcements regarding acquisitions that played into broad gains in a couple of sectors. Thor Industries, Inc. (NYSE: THO), IXYS Corporation (NASDAQ: IXYS), and Kite Pharma, Inc. (NASDAQ: KITE) were among the best performers of the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of Thor Industries gained 5% in the wake of Hurricane Harvey's assault on the U.S. Gulf Coast. The maker of recreational vehicles (RVs) will see increased demand, as residents in Houston and other parts of Texas and Louisiana will require makeshift housing following the devastating floods that hit the area. The majority of Thor's business comes from towable RVs, which will be sorely needed as residents seek temporary shelter, as the Category 4 storm may force more than 30,000 people from their homes.

There were broad gains across the RV sector. Prior to the storm, the RV industry was already expecting its highest demand ever in 2017, with shipments up 9.6% compared to 2016.

Source: Fool.com