Some stocks bucked the negative trend this week and are headed for solid gains.
Despite a rocky week for the broader market, some stocks found a way to advance. The S & P 500 is down about 3% this week, as traders feared that persistent inflation would l lead the Federal Reserve to keep rates higher for longer. On Friday, the broader market index fell more than 1% after the Fed's preferred inflation indicator showed a greater-than-expected increase in prices last month . Some stocks bucked the negative trend this week, however, and are headed for solid gains.
Still, roughly 58% of analysts covering Nvidia rate it as buy. Ansys also got a boost from stronger-than-expected earnings and guidance. The company posted an adjusted profit of $3.09 per share on revenue of $694 million. Analysts expected earnings of $2.82 per share on revenue of $647 million, according to StreetAccount. The company's first-quarter earnings per share forecast of $1.53 to $1.71 after adjustments also topped a consensus estimate of $1.41 per share.
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