Major averages rose yesterday on mixed volume with the S&P 500 closing at new highs and the NASDAQ Composite a breath away from new highs. Meanwhile, the Russell 2000 continues to lag. Institutional funds prefer the safety of larger cap names in this risk off environment where smaller names are likely to get caned far more than the larger cap names whenever the major averages come off even a couple percent.
Two pocket pivots in yesterday's trade:
Tal Educational Group (XRS) - Chinese provider of K-12 after-school tutoring services, strong earnings and sales, pretax margin 24.1%, ROE 30.5%.
Skyworks Solutions (SWKS) - Semiconductor company, accelerating earnings and sales, pretax margin 25.4%, group rank 18.
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