Why Polaris, Lyft, and Stamps.com Jumped Today
Major benchmarks fell on Tuesday, reflecting the balance of optimistic and pessimistic assessments as more companies gave their latest insights on their financial performance. In the absence of significant macroeconomic or geopolitical news, investors seemed content to see the broader stock market drift slightly lower. However, at the individual-company level, there was a lot going on, and some companies had great news that sent their share prices sharply higher. Polaris Industries (NYSE: PII), Lyft (NASDAQ: LYFT), and Stamps.com (NASDAQ: STMP) were among the top performers. Here's why they did so well.
Shares of Polaris climbed 11% after the motorsports vehicle manufacturer reported its third-quarter financial results. Revenue climbed 7% compared to year-ago levels, with double-digit percentage gains in sales of off-road vehicles and snowmobiles. Motorcycle sales were down 3% year over year, but that was better than what some of Polaris' competitors saw, and solid gains in sales from aftermarket products and global adjacent markets helped lift the top line. Adjusted earnings per share fell 10%, but the company said it now expects full-year earnings to come in toward the upper end of its previous range. Given the concerns many investors had about the competitive environment and trade-related issues, Polaris left shareholders feeling more comfortable than they were before the report.
Image source: Polaris.
Source Fool.com
