My Stock of the Day is BE Aerospace (BEAV)
The stock gapped higher this morning after reporting better-than-expected earnings. The company has topped expectations for several quarters, so this wasn't a big surprise.
The aerospace cycle is in full force, with Boeing and several others reporting strong earnings as well. BEAV didn't just beat estimates, they raised forward guidance as well. Margins were strong, and the backlog increased once again. This makes for very good visibility at the company.
I have been bullish on BEAV for quite a while now, but I am not selling yet. I think the stock could pullback from overbought levels, but will ultimately continue higher as earnings growth continues at above-average rates.
Other stocks making notable moves on above-average volume include:
- Rising Stocks
ISE, BEAV, ROCM, JSDA, SIMO, GROW, SPWR, DWSN, ANDE, DXPE
- Falling Stocks
ORA, MTOX, WCG, OCR, MBLX, SIGM, WFR, IIVI, MOH
long BEAV, ISE, WFR