NEW YORK, NY / ACCESSWIRE / January 17, 2019 / Despite concerns of a partial government shutdown, U.S. markets extended gains for the second consecutive session on Wednesday on strong earnings from Bank of America Corp. and Goldman Sachs Group. The financial sector was the largest gainer with a 2.2 percent gain on Wednesday. The Dow Jones Industrial Average surged 0.59 percent to close at 24,207.16, while the S&P 500 Index rose 0.22 percent to close at 2,616.10. The Nasdaq Composite Index gained 0.15 percent to close at 7,034.69.
“The market is where it should be,” Bob Doll, senior equity strategist
The Market Edge Initiates Coverage on:
Applied Optoelectronics, Inc.
Universal Display Corporation
Applied Optoelectronics' stock moved 1.3% lower Wednesday, to close the day at $15.95. The stock recorded a trading volume of 377,186 shares, which was below its three months average volume of 879,620 shares. In the last year, Applied Optoelectronics' shares have traded in a range of 13.42 - 50.30. The share price has gained 18.85% 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 $17.27 is below its 200-day moving average of $28.66. Shares of the company are trading at a Price to Earnings ratio of 26.54. Shares of Applied Optoelectronics have fallen roughly 6.78 percent in the past month and are up 3.37 percent year-to-date.
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On Wednesday, shares of Universal Display recorded a trading volume of 644,442 shares, which was below the three months average volume of 1,158,963 shares. The stock ended the day 0.27% higher at $96.24. The share price has fallen 53.95% from its 52
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SOURCE: The Market Edge