Why Abercrombie & Fitch, Splunk, and NetEase Jumped Today

The stock market lost ground on Friday, with major benchmarks giving back some of their gains from Thursday's strong session. Yet many investors were relatively upbeat, noting that although many of the largest companies in the economy that have the greatest weight in key indexes were weaker, many smaller stocks enjoyed gains, buoyed by hopes for helpful tax reform measures and other catalysts for future growth. Moreover, some well-known companies had good news that helped to bolster confidence throughout the markets. Abercrombie & Fitch (NYSE: ANF), Splunk (NASDAQ: SPLK), and NetEase (NASDAQ: NTES) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of Abercrombie & Fitch soared by 24% after the teen fashion retailer reported exceptionally strong results in its third-quarter financials. Revenue climbed 5% on a 4% rise in comparable-store sales, with the Hollister store brand leading the way higher with 8% growth in comps. Cost-cutting measures also helped send the bottom line higher by a larger margin than expected, and Abercrombie sees another low-single-digit percentage rise in same-store sales coming for the fourth quarter of the year. Abercrombie & Fitch still has further to go before its turnaround is complete, but the company looks to be in far better shape than it was this time last year.

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Source: Fool.com