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The stock market was volatile on Wednesday, the main benchmarks initially sharply narrowed in the morning, then regained all of their ground lost in the early afternoon, before ending on modest folds. Some earnings disappointments contributed to the downward trend seen at the start of the session and even after the mid-day rebound, news that the Federal Reserve should continue to tighten monetary policy has somewhat dampened investors' sentiment. the strength of the US economy. The good news from many corners of the market has shown big winners among individual stocks, and Caesars Entertainment (NASDAQ: CZR), United Continental Holdings (NYSE: UAL), and Vicor (NASDAQ: VICR) were among the best performers of the day. Here's why they did so well.
Who's betting on Caesars?
Shares of Caesars Entertainment have climbed 12% on reports that billionaire investor Tilman Fertitta might be interested in joining forces with the casino operator. Fertitta, which owns the Golden Nugget casino lineup, would be willing to enter into an agreement that would give Caesars about $ 13 a share. Various sources have told various media the information of alternative structures for a combination that could leave Caesars. as a surviving entity. Caesars has looked at expansion plans in Macau and potential strategic partnerships, but it is unclear whether an agreement with Golden Nugget would be in line with his wishes.
Source of the image: Caesars Palace.
United is flying higher
United Continental Holdings shares rose 6% after the United Airlines operator published its third quarter financial results. United said net profit jumped nearly 30 percent from the same period last year, with airlines' key figure representing passenger revenues per available seat increasing more than 6 percent over the same period last year. the period. Despite higher fuel costs, the airline has been able to increase its revenue at a faster rate than its expenses, and United has strengthened its full-year earnings guidance, which is in the upper half of the year. its previous range. Strong travel demand has prompted United to modernize its fleet, and these efforts seem to be paying off for the airline, even though jet fuel prices have risen.
Vicor lights up
Lastly, Vicor shares finished up 11%. The manufacturer of modular power systems and power components reported a 37% increase in revenue in the third quarter of 2018 compared to the same quarter last year, with growth in bookings greater than 40% during the same period. Patrizio Vinciarelli, CEO of Patrizio Vinciarelli, emphasized that "the increasingly wide adoption of our highly differentiated solutions is starting to reflect the substantial investments we have made in advanced technologies over the last 15 years". Through key links with leading high-tech companies, Vicor could benefit from greater investor exposure in the near future.
Dan Caplinger has no position in the mentioned actions. The Motley Fool has no position in the mentioned actions. Motley Fool has a disclosure policy.
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