NEW YORK, NY / ACCESSWIRE / November 8, 2018 / U.S. markets advanced on Wednesday as the midterm election results went according to market expectations. The Democrats took over the House, while the Republicans remained in control of the Senate. The Dow Jones Industrial Average jumped 2.13 percent to close at 26,180.30, while the S&P 500 Index hiked 2.12 percent to close at 2,813.89. The Nasdaq Composite Index closed 2.64 percent higher to close at 7,570.75.
“As President Trump plans his 2020 reelection campaign, a gridlocked Congress is unlikely to deliver any notable wins to help expand his agenda. Therefore, Trump will likely focus on his broad executive powers to affect trade and national security,” said Sun Life Investment Management managing director, investment strategy, Dec Mullarkey.
RDI Initiates Coverage on:
Applied Optoelectronics, Inc.
Microchip Technology Incorporated
Applied Optoelectronics' stock moved 4.53% lower Wednesday, to close the day at $19.38. The stock recorded a trading volume of 2,371,091 shares, which was above its three months average volume of 1,318,867 shares. In the last year, Applied Optoelectronics' shares have traded in a range of 18.16 - 50.30. The share price has gained 6.72% 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 $24.28 is below its 200-day moving average of $35.44. Shares of the company are trading at a Price to Earnings ratio of 11.09. Shares of Applied Optoelectronics have fallen roughly 19.22 percent in the past month and are down 48.76 percent year-to-date.
Access RDI's Applied Optoelectronics, Inc. Research Report at:
On Wednesday, shares of Microchip Technology recorded a trading volume of 3,336,876 shares, which was below the three months average volume of 4,437,703 shares. The stock ended the day 0.39% higher at $70.30. The share price has fallen 32.53% from its 52 week high with a 52 week trading range of 60.70 - 104.20. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $71.31 is below its 200-day moving average of $86.49. Shares of the company are trading at a Price to Earnings ratio of 145.25. Shares of Microchip Technology have gained roughly 1.47 percent in the past month and are down 20 percent year-to-date.
Access RDI's Microchip Technology Incorporated Research Report at:
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.