Why Goldcorp, Blackhawk Network Holdings, and Smart & Final Stores Jumped Today

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The stock market did something on Tuesday that investors hadn't seen in a while: It gave up substantial gains from early in the session and finished broadly lower. The Dow Jones Industrials opened higher by more than 200 points, and other major benchmarks followed suit as earnings season continued to show massive gains from corporate tax cuts and favorable economic conditions. Yet concerns about just how far the bull market has come in such a short period of time finally caught up to buyers, and by the end of the day, the S&P 500 and Nasdaq were down between 0.3% and 0.5%. Still, some stocks prospered, and Goldcorp (NYSE: GG), Blackhawk Network Holdings (NASDAQ: HAWK), and Smart & Final Stores (NYSE: SFS) were among the best performers on the day. Here's why they did so well.

Goldcorp looks shiny

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Shares of Goldcorp jumped 7% after the gold miner reported preliminary gold production figures for 2017. The company said that it produced 2.57 million ounces of gold last year, just edging out its guidance for 2.5 million ounces. Goldcorp also achieved its goal of impressive cost containment, with all-in sustaining costs of just $825 per ounce. CEO David Garofalo trumpeted Goldcorp's five-year strategic plan, saying that the miner is making good progress in meeting its goal of boosting production and reserves by 20% and reducing costs by 20% by the year 2021. Analysts also weighed in with positive comments, and given how well gold has held up in a rising interest rate environment, Goldcorp looks promising coming into 2018.

Blackhawk gets taken out

Blackhawk Network Holdings stock soared more than 23% in the wake of the company receiving a buyout offer from institutional investors Silver Lake and P2 Capital Partners. Under the terms of the deal, the two private equity players will pay $2.57 billion for the provider of retail gift cards. Blackhawk shareholders will get $45.25 per share in cash for their stock, with the expectations that if approved, the acquisition will go forward around the middle of this year. Given Blackhawk's past business challenges, the move is a welcome exit for investors who had worried about the company's future prospects.

Smart & Final gets shopping interest

Finally, shares of Smart & Final Stores finished higher by 11%. Analysts at Barclays upgraded shares of the warehouse grocery and consumer goods chain from equal weight to overweight, pushing their price target on the stock higher by 50% on the belief that the company's fundamental prospects are improving. Throughout much of 2017, Smart & Final struggled, with the stock falling on fears that it would be tough for the company to rebound from poor comparable-store sales performance early in the year. Yet after a second-quarter reversal to growth in comps, investors have seemed a bit more comfortable with the stock in recent months. The retail environment still isn't perfect, but Smart & Final has a lot of room to bounce back if conditions move back toward normal.

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Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool recommends Barclays. The Motley Fool has a disclosure policy.

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