These Four Stocks Made Big Moves in Q3
We can officially close the book on the third quarter.
Despite recent pullback, Q3 was a very good three months for stocks. The Nasdaq led the way with a 6.2% gain. The S&P 500 was up 5.7% from July through September, while the Dow Jones Industrial Average returned 4.3%.
All three major U.S. indices touched multi-year highs at one point.
Q3 was a boon for a number of stocks - including some very high-profile ones.
Here are four big-name stocks that had a very good quarter:
- Google ( GOOG ): As I wrote earlier this week, Apple ( AAPL ) has gotten all the attention of late. But Google has posted the bigger gains. Shares of the search-engine giant were up 30% in Q3, boosted by strong second-quarter earnings and the company's recent purchase of Motorola Mobility.
- Phillips 66 ( PSX ): This ConocoPhillips ( COP ) spin-off went public in April. This quarter, it acted like a growth stock, shooting up 39% as oil prices bounced back.
- Sprint Nextel (NYSE: S): One of the biggest movers of the entire quarter. Sprint shares surged 69% in Q3 as the wireless provider boosted sales thanks to Apple's new iPhone. With Sprint's cash on hand near a six-year high, rumors are flying that the company may be preparing for a takeover bid to challenge rival AT&T ( T ).
- Michael Kors (KORS): This luxury designer just keeps going higher, with seemingly nothing capable of slowing it down. Michael Kors shares were up another 27% this quarter. The stock is now up a mindboggling 120% since going public last December.