Shares of Costco (COST) were among the hottest items on Wall Street on Friday, as shares rallied about 4% following a fiscal fourth-quarter earnings beat. Revenue at the discount grocery giant clocked in at $35.73 billion for the quarter, up 2% year over year, helping Costco's earnings of $1.77 per share beat analyst expectations for the quarter by about 3%.
Meanwhile, shareholders of Cognizant Technology (CTSH) were quick to exit their investments Friday, following news that some of the payments that the consulting and outsourcing-services company made in India could have violated the U.S. Foreign Corrupt Practices Act. Shares were down nearly 12% on news of the investigation, which prompted the sudden departure of the firm's president and former CFO Gordon Coburn. A presidential reshuffle also caused shares to tumble at Wynn Resorts, a member of Real Money's Vice Squad watch list, after Gamal Abdelaziz, the president of Wynn's critical Macau businesses, was replaced by Wynn Resorts President Ian Coughlan.
As Real Money reported, Wynn and fellow Vice Squad member Las Vegas Sands (LVS) bring in about 60% and 50% of their annual EBITDA, respectively, from China's Macau region, which is showing signs of accelerating. (EBITDA is a standard valuation metric standing for earnings before interest, taxes, depreciation and amortization.)
And a continued rally in oil prices, which climbed about 0.9% Friday to about $48.26 a barrel, helped lift a host of energy names, including Stressed Out watch list member Southwestern Energy (SWN) , whose shares rose more than 5% in afternoon trading.