Quantcast

Despite Brexit, These 4 Stocks Were MajorIn The Green On Friday


Shutterstock photo

With the S&P 500, Dow Jones, and Nasdaq indexes all trading more than 3% lower Friday, it's clear that the British decision to leave the European Union caused heavy selling in the U.S. markets. The long-term and global effects of the Brexit are yet to be known, and that uncertainty is what has investors around world worried.

Despite these fears though, there were still stocks that were largely in the green on Friday, and these are a few of the biggest gainers:

Staffing 360 Solutions STAF

One of the largest gainers Friday is Staffing 360 Solutions, as its shares traded close to 22% higher. The jump can largely be attributed to the company posting positive Q4 results that included $44 million in revenue and adjusted EBITDA of $1 million. The growth in revenue and profits is exactly what investors were looking for in the consulting firm.

Finish Line Inc. FINL

Mall-based athletic gear retailer Finish Line Inc. also saw large gains on Friday, as the company posted quarterly results that were better than expected. FINL reported an earnings beat of 4.55%, and also said that same-store sales growth should rise by 3%-5% this year. For Q1 of the current year it reported 1.5% comparable stores sales growth, down from last year, but clearly investors still liked what they saw. Near market close Finish Line was trading nearly 21% higher than its open.

Skullcandy Inc. SKUL

Headphone and audio producer Skullcandy Inc. was another major gainer on Friday, as the company agreed to be acquired by tech-accessory company Incipio for $177 million, or $5.75 per share. Skullcandy has until July 23 rd to solicit other offers, though it is unlikely another deal occurs. Shares of the company were trading as high as 21.9% throughout the course of the day.

Electro Rent Corp. ELRC

Finally there was Electro Rent Corp., who's shares were trading upwards of 18% higher Friday. This was because Platinum Equity raised their price offering to $15.50 per share for the company. Electro Rent Corp. is mainly in the business of renting, leasing, and selling state-of-the-art electronic products.

Bottom Line

Despite markets across the globe and many equities being in the red on Friday thanks to the Brexit vote overseas, there still were some stocks that enjoyed positive price changes, and these four stocks were a few of the biggest winners.

Want the latest recommendations from Zacks Investment Research? Today, you can download  7 Best Stocks for the Next 30 Days Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

FINISH LINE-CLA (FINL): Free Stock Analysis Report

SKULLCANDY INC (SKUL): Free Stock Analysis Report

STAFFING 360 SL (STAF): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks
Referenced Symbols: STAF



More from Zacks.com

Subscribe






Zacks.com
Contributor:

Zacks.com

Equity Research










Research Brokers before you trade

Want to trade FX?