31.05.2019 22:30:00

Why Williams-Sonoma, Genesco, and AngloGold Ashanti Jumped Today

The stock market once again gave up ground on Friday, sparked by an escalation on the trade front. The White House said that it would impose new tariffs on Mexican goods early next month in response to immigration concerns, and that dashed hopes among investors that government officials would strike a more conciliatory tone with key trading partners. Yet even as the overall market posted significant losses, a handful of stocks managed to move higher on company-specific news. Williams-Sonoma (NYSE: WSM), Genesco (NYSE: GCO), and AngloGold Ashanti (NYSE: AU) were among the top performers. Here's why they did so well.Shares of Williams-Sonoma climbed 13% after the home furnishings retailer reported its first-quarter financial results. The company said that comparable-brand revenue was higher by 3.5% companywide, led by double-digit percentage gains at its West Elm concept and more modest increases from Pottery Barn that helped to offset weakness at its namesake store chain. Earnings per share climbed by more than 20% from year-ago levels, and Williams-Sonoma also boosted its bottom-line guidance for the full year. With so many of its peers struggling, it was good to see Williams-Sonoma standing out from the crowd in a positive way.Image source: Williams-Sonoma.Continue reading
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