S&P 500 Stocks Bucking the Earnings Trend

The S&P 500 (NYSEARCA:SPY) is down by 0.32% today and stands at 1,312. However, these stocks are up big on great news.

Waters Corp. (NYSE:WAT): On a day when earnings largely disappointed, Waters has bucked the trend. EPS were $1.56 per share, six cents higher than expected. Growth in international markets was offset by instability in the foreign currency markets. WAT shares recently traded at $85.30, up $6.54, or 8.3%. They have traded in a 52-week range of $70.88 to $100.00. Volume today was 2,676,406 shares versus a 3-month average volume of 849,450 shares. The company’s trailing P/E is 18.81, while trailing earnings are $4.53 per share.

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Coach’s (NYSE:COH) direct sales to consumers increased by 17% to $1.2 billion. Sales in China remain torrid. Coach’s F2 report can’t help but impress. COH shares recently traded at $68.13, up $3.89, or 6.06%. They have traded in a 52-week range of $45.70 to $69.20. Volume today was 5,702,594 shares versus a 3-month average volume of 2,977,870 shares. The company’s trailing P/E is 22.56, while trailing earnings are $3.02 per share.

Western Digital (NYSE:WDC): Needham’s Richard Kugele has converted WDC to Buy status. He believes any damage from the Thai flooding has been contained, and the purchase of Hitachi’s storage division will go through. The company’s guidance on FQ2 earnings also painted a rosy picture for FQ3 earnings. WDC shares recently traded at $37.07, up $2.36, or 6.8%. They have traded in a 52-week range of $22.64 to $41.87. Volume today was 9,772,660 shares versus a 3-month average volume of 4,634,150 shares. The company’s trailing P/E is 11.36, while trailing earnings are $3.26 per share.

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