Why Twitter, Endo International, and Hyster-Yale Materials Handling Jumped Today

By Markets Fool.com

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Friday was a bad end to the week for the stock market, with the Dow losing more than 130 points, and other major market benchmarks falling by more than half a percent on the day. After such a strong couple of days following the Federal Reserve's decision to leave interest rates where they were, investors appeared ready to give back some of the market's gains

In addition, concerns about weakness in the oil market also carried over into stocks. Yet even though the SPDR S&P 500 ETF (NYSEMKT: SPY) fell 0.5%, several stocks climbed, and among the best performers were Twitter (NYSE: TWTR), Endo International (NASDAQ: ENDP), and Hyster-Yale Materials Handling (NYSE: HY).

Twitter sparks new buyout interest

Twitter jumped 21% after investors reacted to reports that the social-media company had allegedly started talking with potential partners to explore a merger, or other strategic combination. Although reports suggested that several major technology companies might be among those interested in making a bid for Twitter, most of them chose not to make any comments about the reports of takeover interest.

For a stock that has performed badly since going public in late 2013, a buyout might prove to be Twitter's best possible exit from the ranks of the stock market, even though it's unlikely to get a high-enough offer to help long-term shareholders claw their way back to breakeven on their share positions.

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Endo makes a change at the top

Endo International climbed 15% in the wake of news that the company has a new leader. Former CEO Rajiv De Silva stepped down from his roles as chief executive, corporate president, and member of the board of directors, and Endo named Paul Campanelli to take on the CEO position going forward.

Campanelli had led Par Pharmaceutical, which Endo acquired in 2015, and the new CEO has a demonstrated track record of squeezing better results from Par. For his part, Campanelli noted that there are challenges facing the entire healthcare industry, but he's excited to lead Endo forward.

Analysts lift Hyster-Yale higher

Finally, Hyster-Yale Materials Handling gained 8%. The maker of forklift equipment got a positive assessment from analysts at Sidoti, which upgraded Hyster-Yale from neutral to buy. Sidoti actually has a fairly impressive track record in calling Hyster-Yale's moves, having cut the company to neutral back in February 2015.

Since then, the stock has fallen by nearly $20 per share and was trading at its lowest level in four years prior to the upgrade. If the picture for the global economy starts to look more favorable, then Hyster-Yale could be a winner from increased activity that requires its customers to buy more of its equipment.

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Dan Caplinger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Twitter. The Motley Fool recommends Hyster-Yale Materials Handling. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.