NEW YORK, NY / ACCESSWIRE / October 26, 2018 / U.S. equities bounced back on Thursday supported mostly by gains in consumer discretionary and technology shares. The Dow Jones Industrial Average jumped 1.63 percent to close at 24,984.55, as Microsoft topped analysts' earnings expectations, while the S&P 500 Index increased 1.86 percent to close at 2,705.57. The Nasdaq Composite Index surged 2.95 percent to close at 7,318.34, lifted by gains in Facebook and Netflix.
According to the co-chief investment strategist at The PNC Financial Services Group, Amanda Agati,"Corrections like this are actually healthy for the market."
"What is surprising to me is where the finger is being pointed at. It's not clear to me that anything has changed in the last month”, she added.
RDI Initiates Coverage on:
Western Digital Corporation
Seagate Technology plc
Western Digital's stock jumped 3.19% Thursday, to close the day at $54.01. The stock recorded a trading volume of 6,356,085 shares, which was above its three months average volume of 4,650,318 shares. In the last year, Western Digital's shares have traded in a range of 52.25 - 106.96. The share price has gained 3.37% 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 $56.93 is below its 200-day moving average of $72.57. Shares of the company are trading at a Price to Earnings ratio of 24.55. Shares of Western Digital have fallen roughly 9.5 percent in the past month and are down 32.09 percent year-to-date.
Access RDI's Western Digital Corporation Research Report at:
On Thursday, shares of Seagate Technology recorded a trading volume of 3,566,551 shares, which was below the three months average volume of 3,868,876 shares. The stock ended the day 2.23% higher at $42.61. The share price has fallen 32.04% from its 52 week high with a 52 week trading range of 36.07 - 62.70. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $46.50 is below its 200-day moving average of $54.14. Shares of the company are trading at a Price to Earnings ratio of 10.52. Shares of Seagate Technology have fallen roughly 12.13 percent in the past month and are up 1.84 percent year-to-date.
Access RDI's Seagate Technology plc Research Report at:
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