Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • ROOMS:

These 7 Stocks Surged Double-Digits and Have Double-Digits to Go

stock arrow up

Earnings reports often catalyze big moves in a stock’s price; the bigger the move, the more conviction the market shows. Catalysts for these moves include better-than-expected results, gained traction, and improved guidance pointing to additional upside. The stocks on this list surged more than 10% after their earnings releases, indicating a significant change in outlook. Because a significant spike in volume accompanied these surges, they have a higher-than-average chance to continue moving higher this year. 

Griffon Surges 10% on Improved Guidance

Griffon (NYSE: GFF) manufactures commercial and residential building supplies. The company’s outlook has been hampered by high interest rates and a tepid housing market, but results were better than expected. The company beat on the top and bottom lines and raised guidance, leading the stock to surge by more than 10%. The surge is partly driven by analysts' sentiment, which is on the rise. Marketbeat tracks three analysts with ratings on GFF stock; one issued a price target revision to set a new high. The consensus target implies about a 9% upside and a new all-time high; the high target implies another 10% upside from the consensus. 

Teva Pharmaceuticals Enters Reversal 

Shares of Teva Pharmaceuticals (NYSE: TEVA) entered a reversal following its latest release. The company beat on the top and bottom line with its core business and announced positive results from a pipeline study. Late-stage trial results for TEV-’769 affirmed the treatment's intended use and set it up for approval. The news increased shares by 10% following the release, and the move extended by 5% the day after. Volume spiked to 4X average the day of the release. 

Payoneer Global Pioneers Cross-Border Payments

Payoneer Global (NASDAQ: PAYO) sent its shares up 15% following its release. The payments processor outperformed the top and bottom line expectations and raised guidance to above consensus. Results are underpinned by strength in the retail and commercial segments led by growth in the higher-margin commercial business. Analysts are raising their price targets because of the news. The consensus target implies another 15% upside, and the freshest targets include a new high of $8 or 25% upside. 

Siemens Energy Jumps 18%, Shares Still Advancing 

Siemens Energy (OTCMKTS: SMEGF) had a solid quarter, with growth and operations turning profitable compared to last year’s losses. The company also raised guidance for the year and a shake-up in the wind unit. The wind unit will get a new CEO over the summer, which may help get it on the right track. Analysts are happy with the news and are raising their price targets. The new range suggests a 50% upside or more from current levels.


Dutch Bros Serves Up A Good Report

Dutch Bros (NYSE: BROS) served up a solid top and bottom line beat on top of 40% top-line growth, suggesting it is taking share from Starbucks (NASDAQ: SBUX) in its operating arena. The company also raised guidance to a level that may still be cautious. Analysts are raising their price targets because of the news and see this stock advancing another 15% to 20% by year-end. Assuming the company continues outperforming, analysts will likely lead this stock above $40 and into a complete reversal. 

Hannon Armstong Sustainable Infrastructure Capital 

Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) was once a REIT but is no longer. The company gave up its election and is now an unsheltered asset manager, which the market likes. The company beat on the top and bottom lines in Q1, growing revenue by 53% with a 30% increase in GAAP NII. The company is a high-yield stock, paying nearly 5.5%. Analysts are raising their targets for the stock and see it advancing 10% to 20%. 

Wolverine Worldwide Widens Margins, Guides Above Consensus

Wolverine Worldwide’s (NYSE: WWW) Q1 expectations were low, and the company easily cleared the bar. Better-than-expected results, wider margins, and favorable guidance offset the double-digit revenue decline. Shares surged more than 20% because of the reset outlook and may continue higher. The technical setup favors a $3 or 20% gain that could lead to additional upside. The risk is the analysts who are not bullish. They rate the stock at a consensus Hold. There has been a single price target increase since the release, but the consensus target is 20% below the current action, and the high target is just above, providing a target for resistance that may not be broken. 

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.