First Solar and 2 Stocks Avoiding the S&P 500 Crash
The S&P 500 (NYSEARCA:SPY) is down today by 1.49% and stands at 1,218. Here are three better performing stocks.
MeadWestvaco Corporation (NYSE:MWV): A merger with ACCO Brands (NYSE:ABD) has this stock moving up. MWV shareholders will own 50.5% of the combined company. Meadwestvaco is up 3.98%. The shares recently traded at $28.93, up $1.06, or 3.8%. They have traded in a 52-week range of $22.75 to $34.51. Volume today was 1,875,918 shares versus a 3-month average volume of 1,275,340 shares. The company’s trailing P/E is 15.76, while trailing earnings are $1.84 per share.
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First Solar (NASDAQ:FSLR): This is a tough time for the solar industry, and First Solar (NASDAQ:FSLR) is trading at one of its lowest levels since its IPO in 2006. Maxim Group’s Andrew Chew believes the time is ripe for GE (NYSE:GE) to take over the company, as the behemoth plans to set up a thin-film solar plant of its own. First Solar (NASDAQ:FSLR) is up 2.27%. The shares recently traded at $44.85, up $0.79, or 1.79%. They have traded in a 52-week range of $42.50 to $175.45. Volume today was 2,698,883 shares versus a 3-month average volume of 3,753,900 shares. The company’s trailing P/E is 7.36, while trailing earnings are $6.09 per share.
Abercrombie and Fitch (NYSE:ANF): Yesterday’s earnings miss was brutal for the stock, but things have leveled off today. The company said in the most recent conference call that they would raise prices next year in an effort to boost margins. We will see if that works. On a positive note, Brean Murray says ample European and Asian opportunities provides some hope for this retailer. The stock is up 2.20%. The shares recently traded at $49.09, up $0.99, or 2.06%. They have traded in a 52-week range of $46.57 to $78.25. Volume today was 3,434,629 shares versus a 3-month average volume of 3,234,260 shares. The company’s trailing P/E is 22.28, while trailing earnings are $2.20 per share.
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