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The stock market finished strong on Friday, posting another solid week of gains following the short-term pullback that many investors were waiting for. Bullish investors have become increasingly convinced that troublesome economic data was due solely to one-time effects like adverse weather, and they're counting on a bounce when conditions return to normal. Meanwhile, though, earnings and other stock-specific news continues to lift many stocks higher, with Ingram Micro (NYSE:IM), LogMeIn (NASDAQ:LOGM), and Endeavour Silver (NYSE:EXK) among the biggest gainers today.
Ingram Micro jumped almost 10% as the wholesale technology distributor reported record sales and net income. Adjusted earnings per share rose 17% on a 4% rise in net revenue, as Ingram highlighted the positive impact of its mobility business on earnings. In addition, Ingram said that it would implement a restructuring initiative that it expects will save the company $80 million to $100 million annually, recouping the costs of the move by 2015. Although it sees traditional seasonal weakness for the first quarter, Ingram's guidance for the full 2014 year was relatively optimistic, and shareholders believe that better times are ahead for the company.
LogMeIn soared almost 22% on strong earnings results and positive guidance for the year. Fourth-quarter sales jumped 22%, leading to a $0.01 per-share better earnings than expected. Guidance for the current quarter and the full year were well above what investors were looking for, and all signs look positive that the online collaboration expert is taking full advantage of greater use of remote access among computer and mobile-device users. With the company expecting to turn profitable this year, LogMeIn could finally start to justify what many have seen as a high valuation.
Endeavour Silver rose almost 9% on a good day for precious metals, as silver prices jumped by almost $1 per ounce. Mining stocks have been on a tear so far in 2014 due, in part, to gold and silver's surprising performance. Endeavour, in particular just last week released its exploration expectations for 2014. With ambitious plans to look both at existing mines and properties that it hopes to develop in the near future, Endeavour looks poised to take advantage of silver's rise if it persists.
Dan Caplinger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.