Why Lyft, Arrowhead Pharmaceuticals, and Ferro Jumped Today
Monday was a solid day for the major benchmarks. Investors liked what they saw coming out of China, as well as on the mergers and acquisitions front. As the key holiday shopping season approaches, market participants hope that the U.S. consumer will continue to support economic growth into 2020. Some companies also had good news that moved their individual stocks sharply. Lyft (NASDAQ: LYFT), Arrowhead Pharmaceuticals (NASDAQ: ARWR), and Ferro (NYSE: FOE) were among the top performers. Here's why they did so well.
Shares of Lyft rose 5% after the ride-hailing specialist got positive comments from analysts. Loop Capital Markets upgraded Lyft stock from hold to buy, arguing that the company has done a good job of fighting back against competition and has worked hard to pursue its strategic vision more successfully. Moreover, some troubles at archrival Uber could help Lyft as well, including the recent decision that pulled Uber's license to operate in London. Lyft isn't yet operating in London, but shareholders seem excited that the company might be able to take advantage of Uber's challenges both there and in other markets.
Image source: Lyft.
Source Fool.com
