Snow Rally: Northeast Storm Heats Up Blizzard Stocks
A potential blizzard barreling toward the Northeast is firing up snow stocks Monday.
Home-improvement retailers and companies that make snow blowers, generators and plows rallied as Americans living in the Northeast prepared for the incoming storm, which is forecasted to bring heavy snowfall starting Monday night.
Generac (NYSE:GNRC), which manufactures electric generators, climbed 1.2% to $39.11 on a down day for the market overall.
Investors pushed Briggs & Stratton (NYSE:BGG), which provides engines that power snow blowers and generators, to a 0.7% gain. Snow blower maker Toro (NYSE:TTC) showed modest gains.
Home Depot (NYSE:HD), the largest U.S. home-improvement chain, rose 0.3%. Lowe’s (NYSE:LOW) was up 0.2%.
Douglas Dynamics (NYSE:PLOW) wasn’t swept up in the snow-fueled rally. The maker of snowplows and salt spreaders slipped 1.3%.
The storm is expected to drop around a foot of snow or more across the Northeast. The National Weather Service has issued a blizzard warning for areas near the New Jersey coastline, New York City and the Connecticut coastline.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HD | THE HOME DEPOT INC. | 331.94 | -0.94 | -0.28% |
| LOW | LOWE'S COMPANIES INC. | 229.96 | -0.33 | -0.14% |
| GNRC | GENERAC HOLDINGS INC. | 138.83 | +1.66 | +1.21% |
| BGG | n.a. | n.a. | n.a. | n.a. |
| PLOW | DOUGLAS DYNAMICS INC | 22.23 | -0.14 | -0.63% |