Why Blue Apron Holdings, Tailored Brands, and Epizyme Jumped Today
Friday was a positive day for the stock market, as the Dow climbed to another record high and led the way to modest gains across the board for the major benchmarks. The White House increased pressure on North Korea, citing the recently passed tougher sanctions from the United Nations even as North Korea launched another missile test. Yet market participants seemed to react more favorably to tepid economic data on U.S. retail sales, which signaled that the Federal Reserve might be less likely to do another interest rate increase before the end of 2017. Some companies also had good news that lifted their share prices, and Blue Apron Holdings (NYSE: APRN), Tailored Brands (NYSE: TLRD), and Epizyme (NASDAQ: EPZM) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Blue Apron gets a bounce
Shares of Blue Apron Holdings gained 8%, bouncing back from extensive losses since the company's initial public offering earlier this year. The meal-delivery specialist has sought to reassure investors that it can compete even in a tough industry. Reports also indicate that Blue Apron will move forward with plans to expand its product offerings, adding more new recipes for its standard two-person plan and allowing customers to choose different meal configurations without facing limits. Blue Apron customers will also be able to change the number of meals they order each week, giving them greater flexibility. The move won't necessarily address some of the structural concerns that some investors have, but it will show that Blue Apron is at least trying to engage its customer base more effectively.
Tailored Brands suits up
Tailored Brands stock climbed 9%, continuing to gain ground after the company's most recent earnings report last week. Some investors have been pleased with the efforts that the company behind Men's Wearhouse and Jos. A. Bank has made, including a strong e-commerce presence and boosting the amount of custom clothing it offers. The company's second-quarter results were solid, with adjusted earnings topping expectations and rising by 20% from year-ago levels. Tailored Brands still expects declines in comparable sales for Men's Wearhouse, but better results for Jos. A. Bank are building optimism going into the key holiday shopping season.
Epizyme completes its stock offering
Finally, shares of Epizyme rose 7.5%. The cancer-fighting biotech successfully completed a secondary offering of its stock to the public, pricing 9.18 million shares at $15.25 per share. The stock had slid earlier in the week following the initial announcement of the offering, but interestingly, Epizyme has been able to recover about half of the ground its shares had lost since the week began. The rise also gives participants in the offering a quick gain of more than 10%, and that's an unusually strong performance for a company making a secondary offering. With favorable prospects for pipeline treatments, Epizyme could finally see a more sustained uptick for its stock going forward.
Offer from The Motley Fool: The 10 best stocks to buy nowMotley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. In fact, the newsletter they run, Motley Fool Stock Advisor, has tripled the S&P 500!*
Tom and David just revealed their ten top stock picks for investors to buy right now.
Click here to get access to the full list!
*Stock Advisor returns as of Sept. 5, 2017.
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.