1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Omar Venerio
Omar Venerio
Articles (832) 

3 Stocks Advance as Wall Street Moves Back From Record High

Inventure Foods, Philip Morris, Aldeyra Therapeutics up in morning trading

U.S. stock market indexes opened lower on Wednesday. Futures for the Dow Jones Industrial Average declined 17 points to 22,073. The Standard & Poor’s 500 index futures lost 4 points to 2,490 and futures for the Nasdaq 100 index declined 12 points to 5,993. The dollar index is up 0.06% at 91.95, while the U.S. 10-year bond yields 2.167% and the German 10-year bond yields 0.401%.

Inventure Foods Inc. (NASDAQ:SNAK) shares were up more than 30% on the back of the announcement of a deal with Oregon Potato Co. for the sale of its frozen foods business for $50 million. It is expected to close this month. CEO Terry McDaniel said the company will use the proceeds from the transaction to reduce debt and improve financial flexibility.

In other news, shares of Philip Morris International Inc. (NYSE:PM) rose after the board of directors declared a $1.07 per share quarterly dividend, up from the previous dividend of $1.04. This represents a 2.9% increase in the annual dividend to $4.28 per share. It will be payable on Oct. 12 to shareholders of record on Sept. 27. Based on Tuesday's closing price, the dividend rate implies a yield of 3.66%, higher than the S&P 500's approximately 2% yield.

Aldeyra Therapeutics Inc. (NASDAQ:ALDX) shares were up 11% in premarket trading after the company reported positive results from a Phase 2a clinical trial of topical ocular ADX-102 in patients with dry eye disease on Tuesday.

Gainers

Losers

  • Western Digital Corp. (NASDAQ:WDC)
  • Northern Trust Corp. (NASDAQ:NTRS)​
  • Freeport-McMoRan Inc. (FCX)
  • KLA-Tencor Corp. (NASDAQ:KLAC)
  • HP Inc. (NYSE:HPQ)
  • TripAdvisor Inc. (TRIP)
  • Hologic Inc. (HOLX)​
  • Motorola Solutions Inc. (MSI)

Global markets

The main European stock markets traded higher. France's CAC 40, Germany's DAX and the IBEX 35 advanced slowly while the FTSE 100 was down 0.21%.

In Asia, Japan’s Nikkei Index, China’s Shanghai Composite and India's Sensex rose 0.45%, 0.14% and 0.09% respectively. Hong Kong’s Hang Seng lost 0.28%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


GuruFocus has detected 6 Warning Signs with Inventure Foods Inc $SNAK.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

Performances of the stocks mentioned by Omar Venerio


User Generated Screeners


maurits_halimEPS Growth >20% (UK)
DBrizan2017sep19 Qcom Gild beater
alberto.lopezblancoPI / PTB
Jeremieroyspinoffs + insiders
sm0yerconsistant growth
patelmhwalter schloss balance sheet b
valueppAsset Management Company
cspunarSG -2
cspunarSG -1
cspunarSG
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK