Despite a less than stellar payrolls growth in July U.S. markets edged higher Friday. On Friday, the U.S. Labor Department reported 162,000 jobs were added in July, which was below economists' median forecast of 183,000, while the unemployment fell to 7.4 percent. The lower than anticipated jobs growth bolstered speculation that the Federal Reserve would continue on with its stimulus measures. "This isn’t a disaster of a report but it shows the U.S. remains vulnerable to a slower economic-growth performance," said Julia Coronado, BNP Paribas’ chief economist for North America. "This isn’t the kind of progress the Fed would like to see. At the margin, it keeps them cautious."
American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) shares traded in the range of $19.98 to $21.41 Friday before settling to close at $20.94 an increase of 5.81 percent. The stock appears to be facing some resistance at $20.97 with some support at the $19.51 and $18.49 levels. The company reported sales $799.6 million for the second quarter of 2013, an increase of 8.1 percent year-over-year. Shares of American Axle & Manufacturing have gained approximately 87.0 percent year-to-date.
More information on American Axle and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AXL
Dril-Quip, Inc. (NYSE: DRQ) shares traded in the range of $95.61 to $101.36 Friday before settling to close at $101.01, an increase of 7.99 percent. The stock appears to have some support at the $96.65 and $95.35 levels. The company reported total revenues were $222.0 million for the second quarter of 2013, an increase of 26.0 percent year-over-year. Shares of Dril-Quip have gained approximately 38.0 percent year-to-date.
More information on Dril-Quip and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DRQ
Mohawk Industries, Inc. (NYSE: MHK) shares traded in the range of $128.71 to $134.21 Friday before settling to close at $129.97, an increase of 7.16percent. The stock appears to have some support at the $128.71 and $119.53 levels. The company reported net sales were $2.0 billion for the second quarter of 2013, an increase of 35 percent year-over-year. Shares of Mohawk Industries have gained approximately 44.0 percent year-to-date.
More information on Mohawk Industries and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MHK
Sealed Air Corp. (NYSE: SEE) shares traded in the range of $28.35 to $30.66 Friday before settling to close at $30.36, an increase of 8.90 percent. The stock appears to have some support at the $29.01 and $28.40 levels. The company reported EPS was $0.26 per share for the second quarter of 2013, compared to a loss of $0.07 per share a year ago. Shares of Sealed Air have gained approximately 73.0 percent year-to-date.
More information on Sealed Air and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SEE
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