WISCONSIN (CoinChapter.com) — Non-Farm Payrolls (NFPs) were the name of the game today affecting the stock market. The US dollar recovered some of the selling that occurred following NFPs. Notably, Treasury rates remained near the day’s lows, highlighted by a 13 basis point drop in 7-year notes. This week, fixed income brought the dollar down, but it is stocks that drove this move.
Here are the five best performing stocks on August 4:
US Cellular Corp. (NYSE: USM)
US Cellular Corp’s (NYSE: USM) stock witnessed a surge of 92% on Friday, following a joint announcement by the company and its parent organization, Telephone and Data Systems (TDS), that they are assessing strategic alternatives for the company. This news also caused TDS’ stock to soar by 87%. As one of the few independent wireless operators remaining in the United States, US Cellular’s strategic review has grabbed significant attention within the industry. “The TDS board believes that now is the right time for a comprehensive review of strategic alternatives for US Cellular. We will pursue the pathway that is in the best interest of shareholders,” stated Chairman Walter C.D. Carlson.
Telephone & Data Systems Inc. (NYSE: TDS)
Telephone & Data Systems Inc. (NYSE: TDS) stock rose in tandem with US Cellular as the two companies made a joint announcement to assess strategic alternatives. Please see US Cellular Corp. above for more details.
Applied Optoelectronics Inc. (NASDAQ: AAOI)
Shares of Applied Optoelectronics Inc. (NASDAQ: AAOI) soared by 65.1% in an exceptionally active trading session today. This impressive gain, the largest one-day increase since the company’s public listing in August 2018, positioned AAOI as on of the top gainers on the NASDAQ. The uptick was propelled by the optical communications product manufacturer’s upbeat outlook for the current quarter. Notably, the trading volume rocketed to over 15 million shares, dwarfing the full-day average of around 3.6 million.
Tupperware Brands Corp. (NYSE: TUP)
Tupperware Brands (NYSE: TUP) witnessed a dramatic increase today of 44% in its share value. The jump followed a 90% increase in after-hours trading on the previous day, triggered by the announcement of a debt restructuring deal. The well-known Florida-based kitchen storage container manufacturer, recognized for its vibrant plastic airtight containers, had previously expressed concerns in April about its ongoing viability due to declining sales. However, the recent debt restructuring agreement with lenders, set to reduce or reallocate approximately $150 million of cash interest and fees, has provided Tupperware immediate financial relief.
Alector Inc. (NASDAQ: ALEC)
Alector, Inc., (NASDAQ: ALEC) a trailblazer in the field of immuno-neurology and a clinical-stage biotechnology company, announced a mid-year earnings conference call. Scheduled after market close today, the conference call and webcast will provide an overview of the company’s performance for the second quarter ending June 30, 2023, as well as a mid-year business update. Shareholders significantly bought shares on high expectations.
