Some investors are panicking (even if they probably shouldn’t be). After a big plunge, US stocks are looking less healthy than they have since August, sparking fears of an imminent recession. The Dow dropped 831 points yesterday (Oct. 10); today, it plunged another 546. Together, it’s the largest two-day percentage loss since February.
Not every stock is feeling the pinch. A handful are still in the green, with gold-production companies in particular in better shape than they’ve been in weeks. Let’s take a closer look at a few of these bright spots, and what’s contributed to their rosier prospects.
The US airline reported a $127-million third-quarter profit, bringing new shine to its shares, which closed at $51.50, up from $49.73. Even year-on-year, the company had good news, reporting earnings per share of $1.80, up from $1.54 at the same time last year. As the price of fuel continues to rise, Delta’s doing what it can to mitigate higher costs by pulling fares up to match.
Investors have responded positively to Victoria’s Secret parent L Brands’ two announcements: healthy monthly sales, and plans to pursue alternatives for its tanking La Senza chain. The stock closed at $30.23, up nearly 6% from $28.52.
Dialog shareholders had an especially good day, with shares bouncing a healthy 28%. The European chipmaker today announced a $600-million deal with Apple, allowing the Cupertino crew to license power-management technologies and acquire more than 300 employees—a total of 16% of the workforce, who will reportedly remain in Europe.
Barrick Gold, Goldcorp, B2Gold, Kinross Gold, Yamana Gold…
Spotting a theme? Gold-production companies had a robust day, with share prices rising along with the commodity. Canadian producers and miners are all enjoyed a day of growth, with Barrick Gold Corp. share prices jumping 9.39% to $12.59. South Africa-based AngloGold Ashanti also rose 9.75% to close at $9.67, its highest price in a week.