Why Nordson, Teva Pharmaceutical Industries, and Snyder's-Lance Jumped Today
Thursday was a mixed day for the stock market, with major benchmarks spending much of the day in positive territory but giving up their gains to fall slightly by the close. Encouraging news of a compromise on the tax reform front bolstered sentiment early, but ongoing doubts about whether the bill will get the needed support in both houses of Congress weighed on investors' minds. Nevertheless, some positive announcements from individual companies showed up in their share prices, and Nordson (NASDAQ: NDSN), Teva Pharmaceutical Industries (NYSE: TEVA), and Snyder's-Lance (NASDAQ: LNCE) 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 Nordson rose by 13% after the maker of adhesive-dispensing systems posted its fiscal fourth-quarter financial results late Wednesday. The company said that sales were up 13%, with more modest net income growth of roughly 5% that was better than what most of those following the stock were looking to see. Strength in advanced technology applications led the way higher for Nordson, and fast growth in the U.S. and Japan helped offset sluggishness in the rest of the Asia-Pacific region. Higher backlogs led Nordson to increase its sales guidance for the current quarter dramatically, and that has shareholders excited about the tech exposure that the company has built up.
Image source: Nordson.
Source: Fool.com
Nordson Corp. Stock
Nordson Corp. is currently one of the favorites of our community with 7 Buy predictions and no Sell predictions.
With a target price of 261 € there is a positive potential of 24.29% for Nordson Corp. compared to the current price of 210.0 €.
