Stock Indexes Inch Up; Canada Goose Hits New High | Stock News & Stock Market Analysis

Stock indexes inched up in midday action Wednesday, as the market coasted in slow, post-Christmas trade. Volume on both major exchanges was tracking higher than Tuesday, but it was an easy comparison because turnover on Tuesday was the lowest in more than four weeks.

X The Nasdaq, S&P 500 and the Dow Jones industrial average all rose around 0.1%, while the small cap Russell 2000 rose 0.4%.

Early movers included electric carmaker Tesla (TSLA). Shares fell 1% in average volume. Tesla is headed toward its eighth loss in 10 sessions and is now 19% off its high.

Reuters reported that analysts at KeyBanc said Tesla would only deliver 5,000 Model 3 sedans in Q4 — far below KeyBanc’s original estimate of 15,000. The Model 3 carries a $35,000 price tag. KeyBanc kept its rating of Tesla at sector weighting.

Tesla has shown sloppy action on the stock chart since June. The company lost money in each of the past four quarters. Tesla has not yet set a date for its release of Q4 results, according to its website.

Outerwear designer and provider Canada Goose (GOOS) struck a new high Wednesday in heavy volume.

Canada Goose is 46% above a 21.28 buy point, which the small cap cleared intraday in October. Because volume was soft, disciplined investors would’ve passed. However, a Nov. 9 gap up offered an alternative entry (the gap up opening price) at 23.70 in huge volume.  The stock is 31% above the gap-up entry, and investors could take profits now.

Canada Goose lost a penny a share in fiscal 2014, then grew earnings to 20 cents a share, 25 cents and 43 cents. The fiscal year ends in March. The stock is No. 1 in its group in Stock Checkup at The apparel maker’s industry group rose from No. 94 eight weeks ago to No. 20 among 197 industry groups.

Breakouts were sparce Wednesday, but retailer Floor & Decor (FND) delivered one in spades. The April initial public offering surged 7%, clearing a 46.34 buy point in huge volume. Floor & Decor, with a market capitalization of around $4.6 billion, is expected to step up earnings 30% in 2018.


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Originally posted 2017-12-27 18:25:12.


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