4 stocks hit new highs as market sells


The good thing about massive stock market sales is that after you look at the “new highs” list, you can see which stocks are showing strength. Bullish action on the day most stocks crash might be worth considering. Why is it increasing when almost everything else is collapsing?

With that in mind, here is a look at a group of actions that refused to accompany the unloading earlier this week.

Pilgrim’s pride

is in the global packaged goods business and primarily involves well-known chicken brands. There is the namesake, Pilgrim’s Pride, as well as Country Pride, Del Dia, Pierce Chicken, O’kane in Northern Ireland and ToRico’s in Puerto Rico.

Brazilian firm JBS, which already owns part of the Greeley, Colorado-based company, has offered a buyback at $ 26.50 for the shares it does not yet own.

Pilgrim’s Pride was trading today at $ 28.64, more than $ 2 above the proposed redemption price. It had already exceeded $ 26.50 on JBS News in mid-August. Could it be that investors think a higher buyout figure could possibly be in store?

Warner Music Group sold with the rest of the market on Monday but exploded higher today with a spread of up to $ 45 on heavier-than-usual volume. A Credit Suisse analyst released a new positive report on the company suggesting a target price of $ 48 due to increased demand for the streaming services on offer.

After the close, the NASDAQ-traded stock fell back to $ 44.30 after billionaire Leon Blavatnik’s Access Industries was announced to sell 2,340,000 of the stock. Warner Music has a price-earnings ratio of 85, pays a dividend of 1.33% and has a relatively low average daily volume of 600,000 shares.

Molina Health

Ministry of Health
stayed away from Monday’s massive sell-offs and pulled off a historic closing high today.

According to the company’s website, Molina provides health care services under the Medicare and Medicaid programs and through the state insurance markets. The company has 4.6 million members.

Earnings per share growth is -2.60% this year, but the 5-year EPS growth rate is 34.40%. For a stock traded on the New York Stock Exchange, it trades lightly with an average daily volume of just 299,000 shares.

Temper Sealy International today hit a new all-time high of $ 48.34 after closing slightly higher on Monday, even with all the sales going around them. The Lexington, Ky.-Based company manufactures mattresses and other types of bedding equipment.

Earnings per share rose this year to 90.70%. The 5-year growth rate is 44.90%. Tempur Sealy’s price / earnings ratio is 18.9. They pay a small dividend of 0.58%. The short float at 4.05% could be related to the measure of long-term debt to equity which is 3.67.

These 4 stocks had decent days on Monday while most of the others were down, then came back strong on Tuesday. This type of strength amid the general market weakness suggests that investors might consider them for further analysis. There is no guarantee, of course, that the gains can continue.

No investment advice. Do your own research and always consult a registered investment advisor before making a decision.