U.S. stocks ended off the highs of the session, but still managed modest gains on Monday. At the closing bell, the major market averages had gained 0.2% to 0.3% across the board. Financial, utility and health care names led the way higher on the session, while materials and energy stocks lagged.
Cognizant (CTSH) and ON Semiconductor (ON) were the big earnings-related winners on Monday, each gaining 6%. ON Semiconductor is a core holding in the Stocks Under $10 newsletter and we believe it can ultimately reach $15 in the coming quarters.
In after-hours action, software producer Qualys (QLYS) is down 26% after management cut forward guidance. On the other hand, Texas Roadhouse (TXRH) is trading up 5% after posting better-than-expected quarterly earnings.
Looking ahead to Tuesday morning, Archer-Daniels Midland (ADM), DirecTV (DTV), Emerson (EMR), Kellogg (K), Sprint (S) and Walt Disney (DIS) headline the earnings calendar. On the economic front, we'll get a look at the March trade balance before the opening bell.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
