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.
The stock market continued its upward move today, rebounding further from its worst losses of 2014, and convincing more investors that the bull market is still running hard. Helping to improve the mood on Wall Street were Generac Holdings (NYSE:GNRC), Goodyear Tire & Rubber (NASDAQ:GT), and Ctrip.com International (NASDAQ:TCOM), all of which posted outsized gains compared to the broader market's advance.
Generac jumped 13.5% after its fourth-quarter results showed impressive growth this morning. Revenue gained 10%; home-standby generators and products for commercial and industrial use were particularly popular. Adjusted net income soared almost 28%, and Generac said it expects mid-single-digit percentage gains in net sales. Yet, today's storm might also have helped the company's stock, as major weather events have traditionally raised awareness of the generator manufacturer.
Goodyear rose more than 11% after its earnings came in dramatically stronger than investors had expected. The tire maker saw its profitability soar in both North America and Europe, while Latin America came in with slightly weaker operating profits than the year-ago period due to the strong dollar. But long-term investors especially will like that Goodyear has managed to fully fund its pension, marking another milestone in the long series of restructuring moves that brought the stock back from its steep drop during the financial crisis.
Ctrip.com gained 10%, with its own favorable earnings report showing a 31% rise in sales and earnings per share that came in almost 70% above what investors had expected. Guidance for the current quarter for 25% to 30% revenue growth was in line with expectations. Investor interest in travel-portal websites generally has risen recently, with Expedia (NASDAQ:EXPE) and Orbitz Worldwide also having posted substantial one-day gains within the past week as hopes for an economic revival worldwide become more prevalent.