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Why Rite Aid Corporation, Portugal Telecom, and YY Inc. Jumped Today

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Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

For the second day in a row, stocks didn't deliver the results that bullish investors had hoped to see. Despite modest gains for the Dow, the broader S&P 500, and the tech-heavy Nasdaq Composite, both posted declines on the day. Yet, even with the gloomy mood, many stocks celebrated with substantial gains, including Rite Aid (NYSE: RAD  ) , Portugal Telecom (NYSE: PTGCY  ) , and YY (NASDAQ: YY  ) .

Rite Aid soared almost 9%. The drugstore chain reported same-store sales growth in December of 2.9%, continuing to accelerate its growth as it keeps trying to turn itself around amid substantial debt and competitive threats from larger drugstore rivals. Once again, though, pharmacy gains were much higher than the overall growth in sales. That suggests ongoing weakness in the front end of the stores, and many investors would like to see that improve before they get fully behind Rite Aid's stock.

Portugal Telecom picked up more than 9% on a good day for southern European telecom companies, with Telecom Italia (NYSE: TI  ) also posting solid gains of nearly 8%. Europe has slowly dragged itself out of recession, and investors have looked to the continent's markets as potential outperformers if the recovery continues. Portugal Telecom, Telecom Italia, and other peers across Europe largely suffered substantial losses during the eurozone's financial difficulties, and so it makes sense that they'd bounce back the strongest in times of improving conditions.

Chinese social-media company YY jumped 11% as investors get more bullish on the prospects for China. Throughout 2013, Chinese Internet stocks have performed well, with giant online-search company Baidu (NASDAQ: BIDU  ) , and smaller players alike posting enviable total returns. As investors adjust their portfolios for the New Year, YY could see more volatility if the trend that helped send it up about 250% in 2013 starts to falter. For now, though, shareholders seem committed to the company and its future.

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Read/Post Comments (3) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On January 07, 2014, at 2:54 AM, Mayssa wrote:

    $BIDU has today been upgrated to buy on DSS daily stock select ..this is usally indicaled good fundamental in addition to back tests and technical analysis..I would buy now with (stop-loss 174.76$)and (target price 190.87$) Happy trading :)

  • Report this Comment On January 08, 2014, at 6:42 AM, Mayssa wrote:

    Hey guys ,today also DSS daily stock select has selected $BIDU as a very god target price ..yeah still good and plenty of gains .. (stop-loss 175.22)USD (limit price 190.61)USD .what do yall think,does this sound reasonable?

  • Report this Comment On January 22, 2014, at 2:17 PM, Nelson44 wrote:

    OK. So... yesterday the price of PT went up because the European situation has improved. Why then the big drop today?

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Dan Caplinger

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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Related Tickers

9/3/2015 4:00 PM
BIDU $149.08 Up +0.93 +0.63%
Baidu CAPS Rating: ****
PTGCY $0.00 Down +0.00 +0.00%
Portugal Telecom CAPS Rating: ****
RAD $8.19 Up +0.03 +0.37%
Rite Aid Corp CAPS Rating: ***
TI $12.36 Up +0.31 +2.57%
Telecom Italia S.p… CAPS Rating: **
YY $54.93 Up +0.31 +0.57%
YY Inc. CAPS Rating: **