Monday continued the run of quiet days in the stock market, as once again, major market benchmarks finished the day with relatively small losses. The Dow gave up 27 points, while the Nasdaq Composite finished with just a 0.04% decline and the S&P 500 fell about a quarter percent. Any expectation of greater volatility after the first full weekend of the Trump presidency failed to surface, and investors seemed patient to let the new administration develop and roll out its policies in due course. Some individual stocks climbed on perceived good news, however, and Northern Dynasty Minerals (NYSEMKT:NAK), Cynosure (NASDAQ:CYNO), and Viavi Solutions (NASDAQ:VIAV) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Northern Dynasty Minerals seeks to cash in on the Trump effect
Northern Dynasty Minerals jumped 12% after the small mining company said that it is looking forward to working with the Trump administration with the end goal of gaining approval for mining its Pebble copper and gold project in Alaska. Northern Dynasty has been fighting with the Environmental Protection Agency over the project, which the EPA has said could have detrimental impacts on the local sockeye salmon population. CEO Ronald Thiessen believes that the incoming Trump administration should be able to resolve the dispute, predicting a quick agreement within the next three months that could put Pebble back on course for a typical process toward gaining permits. Even if things go well, the final payoff for Northern Dynasty is likely years away, but that isn't stopping investors from getting excited right now.
Cynosure: looking for a buyer?
Cynosure climbed 7% in the wake of reports over the weekend that the maker of lasers for the medical industry could be looking for a potential buyer. Bloomberg reported that Cynosure is exploring strategic options, which is industry jargon that signals a full acquisition, major asset purchase, or other transformative event for a company. The current environment in the healthcare field is favorable for possible consolidation, and many companies have explored combinations that could enhance future prospects for both buyer and acquirer alike. Although possible buyers could be interested in Cynosure, investors will have to wait to see whether the reported talks with advisors in the investment banking field come up with attractive options for Cynosure to follow.
Viavi goes into the cloud again
Finally, Viavi Solutions climbed 5%. The global provider of network testing and monitoring services to the enterprise and communications service provider market said early Monday that it had developed a new cloud-based system to allow cabling contractors to manage test and certification projects. The platform, called CERTiFi, will help the personnel who are working to install the data centers, networks, and other technological enhancements work required by cloud computing to be more efficient and monitor their progress more effectively. With multiple user interfaces and functions to streamline workflow to ensure smooth transitions throughout the length of a project, Viavi believes that CERTiFi will be popular among its customers. Investors seem to agree, and as long as cloud computing remains important, Viavi will have the potential to keep growing.