Stocks Gain in Higher Trade

By VINCENT MAO, INVESTOR’S BUSINESS DAILY 

Stocks reversed modest losses and scored small gains Tuesday on reports of progress over Greece’s bailout.

After the close, Buffalo Wild Wings (BWLD) surged after the company delivered Q4 earnings and sales that topped expectations. But Panera Bread (PNRA) was little changed after reporting mixed results. Profit met views, but revenue missed.

The S&P 500 and Nasdaq rose 0.2% and 0.1%, respectively. The Dow Jones industrial average outshined with a 0.3% gain. Turnover climbed on both major exchanges.

SolarWinds (SWI) bolted 9% to a record high, thanks to better-than-expected Q4 results. The software maker’s earnings rose 21% to 29 cents a share. That marked its slowest growth in four quarters, but still beat views by 4 cents. Sales, which also topped views, surged 34% to $55.6 million. The company’s Q1 earnings guidance was in line with expectations, while its revenue guidance topped analysts’ forecasts. SolarWinds closed 8% past a 33.78 buy point from a cup base.

Tractor Supply (TSCO) rallied 4% to a new high in nearly triple its average volume. It cleared an 82.60 buy point in a four-weeks-tight pattern. Prior to Tuesday’s pop, the stock had been trading sideways since gapping out of a flat base Jan. 12.

On the downside, Sally Beauty (SBH) gapped down and dropped 5% in its busiest session in four months. The retailer announced a secondary offering of 20 million shares. The offering is from a shareholder and not the company. Intraday, the stock fell as much as 5% below a 21.95 buy point from a cup base.

Despite reporting upbeat Q4 results, Allot Communications (ALLT) reversed lower and tumbled 5% in almost triple its average volume. Before Tuesday’s open, the Israeli network optimization firm beat views with a 100% surge in earnings, the fifth straight quarter of triple-digit growth. Sales, which also topped expectations, rose 36%. Tuesday’s reversal erased all of Monday’s work.

BJ’s Restaurants (BJRI), Cisco Systems (CSCO), Copa Holdings (CPA), O’Reilly Automotive (ORLY), Ralph Lauren (RL), Visa (V) and Whole Foods Market (WFM) are some notable companies reporting earnings Wednesday.

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