3 Stocks Well in the Green
- By Omar Venerio
U.S. stock market indexes opened mixed on Monday but turned slightly green over the course of the morning. Some stocks that were trading higher include:
NACCO Industries (NC) surged almost 12% in Monday trading after the company announced that its subsidiary Hamilton Beach Brands will trade independently via a spinoff. Once realized, Alfred Rankin will retire as CEO and will serve as a nonexecutive chairman of the board and will become executive chairman of Hamilton Beach Brands.
Warning! GuruFocus has detected 2 Warning Sign with NC. Click here to check it out.
The intrinsic value of NC
In other news, shares of Herbalife Ltd. (HLF) jumped more than 11% in morning trading after the company said that there is a plan to go private. The investor behind the deal has not been disclosed yet. Further, the company is starting a self-tender offer through a "modified Dutch auction" to buy shares back. It plans to buy back $600 million worth of shares, setting a range of $60 and $68 per share.
Fiat Chrysler Automobiles NV (FCAU) shares were up about 6% in morning trading on the back of rumors that Great Wall has interest in acquiring "all or part of" Fiat Chrysler. According to the news, the Chinese manufacturer confirmed that it was interested in its Jeep brand. Fiat hasn't confirmed this, but the company is thinking in strategic initiatives to help reduce some costs while developing electric and self-driving car technology. Sergio Marchionne, CEO of Fiat, said there is a five-year plan in mind, in which there exists room for divestitures. Jeep turned 75 years old last year, and the brand sold about 1.4 million vehicles in that year and aims to reach 2 million vehicles next year.
Gainers
Freeport-McMoRan Inc. (FCX).
Johnson Controls International PLC (JCI).
Red Hat Inc. (RHT).
Newmont Mining Corp. (NEM).
Losers
Chesapeake Energy Corp. (CHK).
Ulta Beauty Inc. (ULTA).
Under Armour Inc. (UAA).
Foot Locker Inc. (FL).
RADA Electronic Industries Ltd. (RADA).
Disclosure : The author holds no positions in any stocks mentioned.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 2 Warning Sign with NC. Click here to check it out.
The intrinsic value of NC