The S&P 500 (INDEXSP:.INX) ended its day as close to even as can be, with a mere 0.1% gain on a 1.4-point rise after spending most of the day climbing out of the steep hole it fell into this morning. That wasn’t enough to give it a positive week — the S&P 500 is down 0.1% for the last five trading days. This is a rare (if narrow) weekly loss in an unusually buoyant year. No S&P stock had a worse day than Expedia Inc (NASDAQ:EXPE)‘s — the online travel company lost more than 25% of its value today after announcing disappointing quarterly results.
Is this a sign of a souring economy? Investors didn’t seem to think so, as they’ve bid a number of stocks up quite a bit today to cover for Expedia Inc (NASDAQ:EXPE)’s crash. Here are the best stocks on the S&P 500 today:
Beleaguered miner Cliffs Natural Resources Inc (NYSE:CLF) continued its summer bounce with a post-earnings pop of 7.2%. Cliffs Natural Resources Inc (NYSE:CLF) reported sales of roughly $1.49 billion, down from the year-ago quarter’s $1.58 billion on soft ore pricing, and its earnings of $0.82 per share were 55% lower than the year-ago quarter’s result. However, expectations were so low — Wall Street had modeled revenue of $1.41 billion an earnings of $0.61 per share — that Cliffs Natural Resources Inc (NYSE:CLF) investors cheered even this weak performance as evidence that the ground hasn’t yet completely given way beneath their feet. The company now projects roughly a million tons less in iron ore sales for the entire fiscal year than it had originally anticipated, but with any luck, the persistent weakness in commodities will turn around in Cliffs Natural Resources Inc (NYSE:CLF)’ favor next year.
Investment company Principal Financial Group Inc (NYSE:PFG) rounded out today’s top three S&P stocks with a 6.3% gain for the day after reporting its own set of strong earnings.
Principal Financial Group Inc (NYSE:PFG)’s $2.31 in reported quarterly revenue was below the Street’s $2.34 consensus, but earnings of $0.91 per share blasted past the consensus of $0.82 in earnings per share. Both top- and bottom-line results were roughly 30% higher than the year-ago quarter’s result, and Principal Financial Group Inc (NYSE:PFG) rode this surge toward higher dividend payouts. The company will now pay $0.26 per share each quarter, up 13% from the earlier $0.23 payout.
Is the S&P’s future going to look more like Expedia Inc (NASDAQ:EXPE)’s day, or Starbucks Corporation (NASDAQ:SBUX)’? Tune in next week to find out!
The article Today’s 3 Best Stocks originally appeared on Fool.com is written by Alex Planes.
Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+ or follow him on Twitter @TMFBiggles for more insight into markets, history, and technology.The Motley Fool recommends Starbucks. The Motley Fool owns shares of Starbucks.
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