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May 03, 2023Most markets are higher this morning as risk-on sentiment dominates: Signature Bank, Chegg, Inc., Generac Holdings Inc are showing impressive gains as we move into the afternoon trading session.
The leading indices are pointing up — Nasdaq up to 12,149, gaining 0.56%. S&P 500 goes up 0.4%, trading at 4,136.
Today's rise takes place amid mixed market indicators — United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.
Here are the biggest stocks gainers so far today.
Generac Holdings | +14.16% in mid-session
The engine equipment manufacturer made its largest daily jump $14.56 (14.16%) since November 2022. The power grid software developer has fallen back around 64.89% from the significant high of $292.78 set 10 months ago. So far this year, it has been under-performing the S&P by 3.13%. The company's market cap currently stands at $7.26 billion with an average daily volume of 1 million shares.
Signature Bank | +24.32% in mid-session
The US commercial bank is now trading 99.95% below its 3-month high of $263.35. So far this year, it has been doing worse than the Nasdaq by 113.96%. Signature Bank is currently trading with a market cap of $5.17 million with an average daily trading volume of 6 million shares. Signature Bank has a forecast of $629 million with an EPS of $3.94.
Chegg | +16% in mid-session
Having soared to a high of $29.84 approximately 5 months ago, the US "edutech" pioneer is now trading 69.57% lower. So far this year, it has been doing worse than the Nasdaq by 78.29%. Currently, the US "edutech" pioneer has a market capitalization of $1.26 billion with an average daily volume of 5.36 million shares.
