Today's Research Reports on Trending Tickers: salesforce.com and Red Hat
NEW YORK, NY / ACCESSWIRE / April 27, 2018 / U.S. markets rallied sharply Thursday on the strength of corporate earnings. The tech sector was amongst the top gainers as Facebook posted earnings that topped expectations. The Dow Jones Industrial Average jumped 0.99 percent to close at 24,322.34, while the S&P 500 Index rose 1.04 percent to close at 2,666.94. The tech-heavy Nasdaq Composite Index spiked 1.64 percent to close at 7,118.68.
"Investors have been concerned that the events over the past month and a half would impair Facebook's growth and user adoption, but that's clearly not the case," said Paul Nolte, portfolio manager at Kingsview Asset Management, according to CNBC.
"Tech has been the leading sector of the market for years, and while it took a back seat over the past few weeks, it is now reasserting its leadership and the market is following. While I'm not comfortable with market valuations overall, tech still looks relatively inexpensive."
RDI Initiates Coverage on:
salesforce.com, inc.
https://rdinvesting.com/news/?ticker=CRM
Red Hat, Inc.
https://rdinvesting.com/news/?ticker=RHT
salesforce.com's stock moved 2.99% higher Thursday, to close the day at $120.83. The stock recorded a trading volume of 4,998,816 shares, which was below its three months average volume of 6,254,308 shares. In the last year, salesforce.com's shares have traded in a range of 83.55 - 128.87. The share price has gained 44.62% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $120.84 is above its 200-day moving average of $110.31. Shares of the company are trading at a Price to Earnings ratio of 710.76. Shares of salesforce.com have gained roughly 1.56 percent in the past month and are up 18.19 percent year-to-date.
Access RDI's salesforce.com, inc. Research Report at:
https://rdinvesting.com/news/?ticker=CRM
On Thursday, shares of Red Hat recorded a trading volume of 1,503,314 shares, which was below the three months average volume of 1,885,832 shares. The stock ended the day 3.14% higher at $163.11. The share price has fallen 2.54% from its 52 week high with a 52 week trading range of 84.16 - 167.36. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $154.77 is above its 200-day moving average of $134.63. Shares of the company are trading at a Price to Earnings ratio of 116.51. Shares of Red Hat have gained roughly 6.55 percent in the past month and are up 35.81 percent year-to-date.
Access RDI's Red Hat, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=RHT
Our Actionable Research on salesforce.com, inc. (NYSE: CRM) and Red Hat, Inc. (NYSE: RHT) can be downloaded free of charge at Research Driven Investing.
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