Today’s Research Reports on Trending Tickers: Western Digital and Square, Inc.
U.S. markets closed up on Wednesday, as investors appear to shrug off fears of increasing interest rate and bond yields. The Dow Jones Industrial Average gained 0.25 percent to close at 24,768.93, while the S&P 500 Index increased 0.41 percent to close at 2,722.46. The Nasdaq Composite Index climbed 0.63 percent to close at 7,398.30.
“For the 10-year, 3% isn’t a magical number that will pull investors out of stocks. With inflation and interest rates being where they are, we think stock valuations are about right. Equities certainly aren’t cheap, but valuations aren’t a big concern right now,” said Anthony Saglimbene, global market strategist at Ameriprise.
RDI Initiates Coverage on:
Western Digital Corporation
Western Digital’s stock jumped 4.87% Wednesday, to close the day at $87.02. The stock recorded a trading volume of 6,775,533 shares, which was above its three months average volume of 3,958,381 shares. In the last year, Western Digital’s shares have traded in a range of 75.96 – 106.96. The share price has gained 14.56% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $85.67 is below its 200-day moving average of $86.84. Shares of the company are trading at a Price to Earnings ratio of 67.83. Shares of Western Digital have fallen roughly 3.87 percent in the past month and are up 9.42 percent year-to-date.
Access RDI’s Western Digital Corporation Research Report at:
On Wednesday, shares of Square recorded a trading volume of 10,878,774 shares, which was below the three months average volume of 13,558,303 shares. The stock ended the day 3.55% higher at $56.59. The share price has fallen 3.2% from its 52 week high with a 52 week trading range of 19.45 – 58.46. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $49.52 is above its 200-day moving average of $44.54. Shares of Square have gained roughly 20.33 percent in the past month and are up 63.22 percent year-to-date.
Access RDI’s Square, Inc. Research Report at:
Our Actionable Research on Western Digital Corporation (NASDAQ:WDC) and Square, Inc. (NYSE:SQ) can be downloaded free of charge at Research Driven Investing.
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