The Hot Stock: Lam Research, Storage Stocks Rally

Discussion in 'Stocks' started by dealmaker, Mar 7, 2018.

  1. dealmaker


    The Hot Stock: Lam Research, Storage Stocks Rally
    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.

    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.