5 Best Stock Ideas Of October
After a rough couple of months in August and September, the S&P 500 booked a stellar month of October. The index closed out the month with a strong 8.3 percent gain.
However, some stocks fared even better than the overall market during the October rally. Here’s a list of the five best-performing S&P 500 stocks in the past month.
5. E I Du Pont De Nemours And Co (NYSE: DD)
DuPont shares surged in October as speculation of a possible break-up of the company continue to swirl. On the company’s earnings call, acting CEO Edward Breen indicated that he has an “open mind” when it comes to corporate restructuring, and the company has reportedly recently met with activist investor and break-up advocate Nelson Peltz. DuPont finished October up 31.1 percent on the month.
4. First Solar, Inc. (NASDAQ: FSLR)
First Solar shares received a huge boost at the end of the month when the company announced a massive Q3 earnings beat. Shares spiked nearly 12 percent on the last day of the month after the earnings report, and First Solar finished October up 33.7 percent.
Related Link: 5 Worst Stock Ideas Of October
3. Wynn Resorts, Limited (NASDAQ: WYNN)
After finding itself among the five worst-performing S&P 500 stocks in September, the casino operator hit the jackpot in October with a big turnaround. The bounce-back was partially driven by positive rhetoric coming from the Chinese government, which indicated a willingness to be more supportive of Macau gaming in the future. Wynn finished the month of October up 35.2 percent.
2. KLA-Tencor Corp (NASDAQ: KLAC)
On October 13, KLA-Tnecor shares soared when the company announced a $10 billion buyout by Lam Research Corporation (NASDAQ: LRCX). KLA-Tencor’s stock climbed 35.3 percent in October.
1. SanDisk Corporation (NASDAQ: SNDK)
SanDisk is another stock that surged in October after a buyout announcement. Ironically, the company that is acquiring SanDisk, Western Digital Corp (NASDAQ: WDC), was among the five worst-performing S&P 500 stocks of October. SanDisk shares, however, rose 37.7 percent on the month.
Year-to-date, however, digital video giant Netflix, Inc. (NASDAQ: NFLX) remains the top performer in the S&P 500, gaining 122.0 percent so far in 2015.
Disclosure: the author owns shares of Wynn Resorts.
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