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According to stock exchange reports from Friday, August 6, 2021, the S&P 500 and Dow Industrials have experienced high demand for shares. The stats show that both major stock exchanges have experienced surges in stocks that are better than their expectations.
The reports suggest that as the jobs in the United States are constantly growing, the economic pressure is also getting lifted off. This is the reason why the companies are facing high demand and thus, the rise in share prices.
While many companies are gaining a lot of volume and surge in their stocks, some companies have outperformed the rest in terms of their stock prices on Friday trades.
The first company in line is Yelp that has experienced a 5.2% increase in terms of its stock prices. The reason behind the company experiencing a surge in terms of stock prices was the earnings report it shared for the second year of 2021.
The company reported that it was experiencing a rebound in terms of its profits as the businesses are coming back to normal. As almost the entire United States is now opening back up, more and more people are joining their offices.
The company is mainly advantageous for users for sharing reviews and details around restaurants and other visiting places. The company is now confident that it is going to observe a rise in its revenue in the upcoming quarters. This is the reason why the company has increased its revenue guidance for the upcoming quarters of 2021.
Then the next company is Switch that has experienced a 20% increase in its stock prices. The reason why the company ended up experiencing a rise in its price is the announcement it recently made around its earnings. The company announced the earnings for the second quarter of 2021 that are higher than the company’s estimates.
It has been revealed that the company is currently looking into the possibility of turning into a REIT. The firm announced that it is planning to onboard Jason Genrich as a member of the board.
Then there is Intersect ENT that has experienced a 12% increase in terms of its stock prices. The share prices for the company experienced a surge following the announcement made by Medtronic, revealing it was willing to acquire Intersect ENT. The company revealed that it was aiming to acquire Intersect ENT, at a price of $1.1 billion.
Then there is Goodyear that has experienced a price surge following the release of its earnings report for the second quarter of 2021. The company revealed that its share price increase of 32 cents per share exceeded the company’s expectation of an increase of 16 cents per share. Since the announcement, the company’s share prices have experienced a 6.6% increase.
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