Why AK Steel, Advanced Micro Devices and CommScope are 3 of Today’s Best Stocks

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As it turns out, the 2015 Northeast blizzard wasn’t nearly as bad as the storm that hit Wall Street the following day. U.S. markets opened significantly lower this morning after some weak forward guidance from such well known stocks as Pfizer Inc. (NYSE:PFE), Procter & Gamble Co (NYSE:PG), and Caterpillar Inc. (NYSE:CAT), and never caught a tailwind thereafter.

ak steel stockAdding to the misery were the U.S. durable goods orders, which were expected to be 0.5% but instead came in at -3.4%; and the S&P Case-Shiller Index, whose 20 city composite index met the Street’s expectations for appreciation at 4.3%, but was the slowest annualized increase rate since late 2007.

All sectors except Utilities were in the red today. The Dow Jones Industrial Average, which was off nearly 400 points in the morning, ultimately finished down 1.6%, while the S&P 500 was 1.3% lower and the Nasdaq Composite was weakest of all, falling 1.9%.

But even in the worst of storms, a few stocks will come shining through. AK Steel Holding Corporation (NYSE:AKS), Advanced Micro Devices, Inc. (NASDAQ:AMD) and CommScope Holding Company Inc (NASDAQ:COMM) are three that ignored the market shellacking to be today’s best stocks.

AK Steel Holding Corporation (AKS)

AKS stock rose nearly 5% today after beating estimates with fourth-quarter earnings of 14 cents per share, on revenue of $2 billion, and up 36.4% over last year. Analysts were expecting earnings per share of 8 cents with revenue of $1.9 billion.

Also propelling the stock higher was an upgrade by S&P Capital IQ, from hold to strong buy, and giving AKS stock a $6 target. AKS stock closed at $4.25, but the stock has fallen from $11 over the past four months.

Advanced Micro Devices, Inc. (AMD)

Remember the lofty tech bubble days when AMD was an $85 stock? Those memories are long gone for AMD stock, which trades now for less than $3. But recently those who are long AMD stock have been partying like it’s 1999 again, as the stock climbed nearly 3.4% today and some 20% over the past week.

The reason for the turn around is takeover speculation, and it’s created a feeding frenzy for AMD stock.  Chinese company BLX IC Design is reportedly in acquisition mode for the once great semiconductor company, despite its lagging recent sales.  Both companies have worked together previously, going back to 2003.

CommScope Holding Company Inc (COMM)

COMM stock blasted up more than 18%, but for just the opposite reason.  Rather than being taken over, COMM is rumored to be interested in acquiring TE Connectivity Ltd (NYSE:TEL), and assuming their telecom and data network equipment business.

The buzz is that the acquisition would be worth about $3 billion, and could be announced as early as this week.  The deal would not include TEL’s subsea fiberoptics division, which accounted for 2% of TEL’s net sales in 2014.

As of this writing, Ethan Roberts did not hold any positions in the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/01/aks-amd-com-why-ak-steel-advanced-micro-devices-and-commscope-are-3-of-todays-best-stocks/.

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