The Hot Stock: Lam Research, Storage Stocks Rally
By
Teresa Rivas
March 6, 2018 5:09 p.m. ET
Lam Research(LRCX) climbed to the top of the S&P 500 today, while storage companies were also on the rise.
ILLUSTRATION:MICRON TECHNOLOGY
Lam Research gained $9.74, or 4.9%, to $207.94, while the S&P 500 added 7.18 points, or 0.26%, to 2728.12.
Lam Research rose on itscapital return program, as it will return 50% of its free cash flow to investors via stock buybacks and dividends.
However it wasn't the only tech name rising.Western Digital(WDC) was the S&P 500's second best performer, climbing 4.3%, whileMicron(MU) rose 3.3%. Those stocks were helped byGoldman Sachs'note on storage companies ahead of Micron's upcoming earnings.
The Technology Select Sector SPDR ETF (XLK) ended 0.2% higher.
https://www.barrons.com/articles/the-hot-stock-lam-research-storage-stocks-rally-1520374191
By
Teresa Rivas
March 6, 2018 5:09 p.m. ET
Lam Research(LRCX) climbed to the top of the S&P 500 today, while storage companies were also on the rise.
ILLUSTRATION:MICRON TECHNOLOGY
Lam Research gained $9.74, or 4.9%, to $207.94, while the S&P 500 added 7.18 points, or 0.26%, to 2728.12.
Lam Research rose on itscapital return program, as it will return 50% of its free cash flow to investors via stock buybacks and dividends.
However it wasn't the only tech name rising.Western Digital(WDC) was the S&P 500's second best performer, climbing 4.3%, whileMicron(MU) rose 3.3%. Those stocks were helped byGoldman Sachs'note on storage companies ahead of Micron's upcoming earnings.
The Technology Select Sector SPDR ETF (XLK) ended 0.2% higher.
https://www.barrons.com/articles/the-hot-stock-lam-research-storage-stocks-rally-1520374191
