3 Stocks Avoiding the Dow Crash
Jul 24th 2012 8:08PM
Updated Jul 24th 2012 8:14PM
Markets plunged today, as all three major indexes saw significant declines approaching 1%. The Dow Jones Industrial Average's (INDEX: ^DJI) 0.82% plunge marks its third 100-plus-point decline in as many days as Europe's slow-motion car wreck continues to hit innocent bystanders. Only four Dow components ended with gains; however, none of them moved higher on any company-specific news.
The Nasdaq saw an even worse 0.94% decline, but it wasn't all bad news for the index. GeoEye (NAS: GEOY) climbed another 11.5% as investors gain increased confidence in the success of DigitalGlobe's (NYS: DGI) $900 million offer. GeoEye recently tried to buy its would-be acquirer for $800 million, but after losing out on a government contract the tables turned. Cost savings should be significant, so this looks like a good deal for the satellite-imagery company. The market thought so, too, sending shares of DigitalGlobe up 16.8%.
After hours, Riverbed Technology (NAS: RVBD) has popped more than 20% upon releasing great second-quarter results and more importantly raising its forecast for Q3. This earnings season has gotten to such a bumpy start, just affirming forecasts is a call for celebration. Riverbed also inked a $75 million deal with Juniper Networks to license application boosting products.
Finally, apparel maker Under Armour (NYS: UA) popped 9% after beating the street in part to a 44% increase in footwear sales. The company also tacked on $200 million to its full-year forecast. This will be a company investors should watch going into what is typically the stronger part of the year for Under Armour.
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The article 3 Stocks Avoiding the Dow Crash originally appeared on Fool.com.David Williamson holds no position in any company mentioned. Check out his holdings and a short bio. The Motley Fool owns shares of Under Armour and Riverbed Technology. Motley Fool newsletter services have recommended buying shares of Riverbed Technology, GeoEye, and Under Armour, creating a bear put spread position in Under Armour, and creating a synthetic long position in Riverbed Technology. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.
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