Today's Market Winners
The day after the holiday, the market is down after China and the European Central Bank cut interest rates and the Bank of England expanded its quantitative easing. The Dow Jones Industrial Average is down 0.48%, the Nasdaq is down 0.34% and the S&P 500 is down 0.57%. Nevertheless, trading for coal companies is up on reports of higher demand, while another company trying to make up for past blunders reported strong user engagement in June, sending shares booming.
Normally, 24/7 Wall St. reports the big losers as well as winners. However, today hasn’t seen a stock with millions of shares in trading volume plummet. Therefore, here are today’s market winners:
Shares of Patriot Coal (NYSE: PCX) are up 30.43% to $2.40 based on trading volume of 13.5 million shares. Bloomberg came out with a report Tuesday noting that demand for coal in Europe is at its highest level since 2006. Despite this, shares of Patriot are still significantly off of its 52-week high of $24.99 due to lower natural gas prices as of recently, which has hurt coal companies across the board.
Shares of Netflix (NASDAQ: NFLX) are up 8.97% to $78.50 on trading volume of 3.5 million shares. The company announced Tuesday that subscribers watched over 1 billion hours of video in the month of June. The stock still lags heavily compared to its 52-week high of $304.79, which was achieved last summer before the company attempted to split its DVD-by-mail and online streaming services and began charging customers as much as 60% more for services.