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The stock
market performed reasonably well in August with falling oil
prices and some better than expected earnings results pushing
the market indicators all positive for the month. The Dow gained
166 points or 1.5% and the Nasdaq gained 42 points or 1.8%.
Taking a
closer look at some of the month’s top performers shows that
airline stocks once again benefited from the falling price of
oil. While some surprising names posted better than expected
quarterly results and ended the month as the top internet
stocks.
Airlines
For the
second consecutive month, US Airways was the top performing
airline stock with an impressive 68% jump in their share price.
That increase following on the heels of last month’s
astronomical 102% increase has made LCC’s investors who
bought at the June low’s very happy.
United
Airlines also followed up a strong July (59% increase) with a
remarkable 34% increase in August. While Continental Airlines,
Jet Blue and Alaska Air all posted gains of over 15% for the
month.
Internet
Two small
cap stocks posted the top performances in the internet sector.
eDiets.com saw their shares gain over 53% in August after a
completely dismal July performance (-43%). Coming in a close
second, was the 42% gain by Answers Corp as their shares
steadily appreciated throughout the month.
Leading
the second tier was Web MD’s 31% gain on better than expected
quarterly results. Surprisingly, a tight economy actually helped
Vista Print’s quarterly results, as it appears that more
individuals were investing in stationary to start their own
businesses. This led to a 29% appreciation in their share price.
In addition, Internet Brands, Overstock, Move, NetEase,
zipRealty and InfoSpace all posted gains of over 20% for the
month.
At the time this article
was published,
the author did not have a
financial position in any of the stocks mentioned in this
article.
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Disclosure Policy |
