Financial Markets Tuesday: Three Stocks Up More Than 5%

Emerging Markets Markets
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For just the second time in the last two weeks, U.S. stocks fell today. Financial markets dipped on concerns about a slowdown in China, though most analysts would say that the markets were long overdue for a pullback.

S&P 500 stocks fell 0.3% to close at 1,405. The Dow Jones Industrial Average slipped 66 points, or 0.5%, to 13,170.The pullback wasn’t overly surprising given that both indexes closed Monday at multi-year highs.

Despite the drop-off today, here are three stocks that made big gains:

  • Tiffany (NYSE: TIF): The high-end jeweler saw its stock rise 6.7% after the company’s 2012 sales forecast improved. In today’s first-quarter earnings report, Tiffany said it expects global sales to climb 10% in the coming year, with a profit of between $3.95 and $4.05 a share. The New York-based company also said it plans to add 24 stores in Canada, Asia and the U.S. At $73.27 a share, Tiffany is trading at its highest level since late November.
  • Michael Kors (NYSE: KORS): Another luxury retailer that made huge strides today. Michael Kors, which began public trading back in mid-December, said its same-store sales were up 36% last quarter. The stock was up 6.1% today, and an amazing 130% since its IPO. Though it went public very late in the year, Michael Kors was the best-performing IPO of 2011 after going public.
  • Lions Gate Entertainment (NYSE: LGF): Heard of this new phenomenon called “The Hunger Games”? If you haven’t yet, you soon will. It’s the novel by Suzanne Collins that swept the nation, and is now being turned into a movie that is sure to be a box-office hit. Guess which Hollywood studio is producing “The Hunger Games” movie? Lions Gate. With the movie set to hit theaters this Friday, Lions Gate stock has surged to new heights. Shares were up 7.2% today, reaching a new 52-week high of $15.28. In just two days this week, Lions Gate stock has risen more than 17%. As the build-up to Friday’s “Hunger Games” release continues, chances are Lions Gate’s stock will benefit from the hype for at least another few days.

 

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