NEW YORK, NY / ACCESSWIRE / December 11, 2018 / Wall Street bounced on Monday as optimism outweighed earlier losses caused by the U.S. - China trade dispute. Analysts expect the Federal Reserve to raise interest rates during their next meeting. The Dow Jones Industrial Average gained 0.14 percent to close at 24,423.26, while the S&P 500 Index increased 0.18 percent to close at 2,637.72. The Nasdaq Composite Index jumped 0.74 percent to close at 7,020.52.
“There won’t be 25% tariffs on Jan. 1, and momentum toward a deal appears to be building, as the jobs report was solid but not too hot, while ISM Manufacturing PMIs were strong, and the Fed is shifting more and more dovish,” said Tom Essaye, the president and editor of the Sevens Report.
The Market Edge Initiates Coverage on:
Himax Technologies, Inc.
Summit Wireless Technologies, Inc.
Himax Technologies' stock moved 16.84% lower Monday, to close the day at $3.11. The stock recorded a trading volume of 9,560,597 shares, which was above its three months average volume of 2,470,736 shares. In the last year, Himax Technologies' shares have traded in a range of 3.03 - 11.18. The share price has gained 2.64% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $4.68 is below its 200-day moving average of $6.35. Shares of the company are trading at a Price to Earnings ratio of 22.70. Shares of Himax Technologies have fallen roughly 29.48 percent in the past month and are down 70.15 percent year-to-date.
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On Monday, shares of Summit Wireless Technologies recorded a trading volume of 24,522 shares, which was above the three months average volume of 19,996 shares. The stock ended the day 11.11% lower at $3.76. The share price has fallen 32.98% from its 52 week high with a 52 week trading range of 3.56 - 5.61. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $4.56 is above its 200-day moving average of $4.54. Shares of Summit Wireless Technologies have fallen roughly 12.15 percent in the past month and are down 20 percent year-to-date.
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SOURCE: The Market Edge