Why Toll Brothers, Square, and Tableau Software Jumped Today

Image source: Toll Brothers.

The stock market rebounded slightly on Tuesday, with the Dow and S&P 500 making back the ground they lost the previous day and posting modest gains of 0.1% to 0.2%. Market participants are anxiously awaiting further insight as to what various central banks will do next to try to stimulate economic growth, but in contrast to recent days, they seem poised to expect Fed Chair Janet Yellen to reassert her more dovish attitude toward monetary policy and keep the Open Market Committee from tightening short-term rates for the near future. A bounce in oil prices also helped support the market, but several individual companies rallied more sharply on specific news. Among the best performers were Toll Brothers (NYSE: TOL), Square (NYSE: SQ), and Tableau Software (NYSE: DATA).

Toll Brothers celebrates another strong quarter for housing

Toll Brothers climbed 9% after the homebuilder released its fiscal third-quarter financial report. The company said sales climbed by nearly a quarter on a 6% rise in the number of homes sold, and average prices climbed above the $840,000 mark for the premium builder. Net income climbed by more than half, and CEO Doug Yearley pointed to continued strong performance in the initial part of the current quarter. In particular, growth rates in California and the rest of the Western region were especially high, and brand awareness has worked in Toll Brothers' favor in drawing business to its developments. With industry analysts seeing the pace of home sales at their best levels since the housing bust, Toll Brothers is working hard to make the most of its opportunity as long as it lasts.

Square gets another vote of confidence

Square gained 5% in response to getting a positive opinion from the analyst community. Stock analysis company Stifel upgraded the electronic payments specialist from hold to buy, arguing that the company has managed to get through two major expirations of post-IPO lock-up provisions without seeing a huge amount of downward pressure in the share price. Moreover, even with substantial competition in the electronic payments space, Square has worked hard to produce revenue growth, and its platform remains popular. The payments industry will remain volatile for a while, but Square is putting itself in position to take a leadership role in determining the future direction of the space.

Tableau paints a pretty picture

Finally, Tableau Software jumped 13%. The data analysis company named former Amazon executive Adam Selipsky as its new chief executive officer, replacing co-founder Christian Chabot as of the middle of September. As Chabot pointed out, Selipsky's "experience in making [Amazon Web Services] the world's leading cloud platform, his passion for servicing customers at a global scale, and his authentic team player attitude make him an extraordinary fit at Tableau," and investors generally agreed. Skeptics point out that the data analytics specialist still faces challenges, but most agree that poaching Selipsky was a victory for Tableau and could lead to even better things down the road.

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