Energy, Auto Parts Stocks Hit New Highs But Marvell Fades

Blockhead11-02

As stocks rebounded from a two-day sell-off Friday, a few names broke out of bases and reached new highs, including Marvell Technology (MRVL). Dorman Products (DORM) surged more than 12% and broke out...

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/stock-lists/new-highs/energy-stock-dorman-idacorp-stock-ida-mrvl/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As stocks rebounded from a two-day sell-off Friday, a few names broke out of bases and reached new highs, including Marvell Technology (MRVL).\nDorman Products (DORM) surged more than 12% and broke out...</p>\n\n<a href=\"https://www.investors.com/stock-lists/new-highs/energy-stock-dorman-idacorp-stock-ida-mrvl/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861220033.SGD","symbol_name":"Blackrock Next Generation Technology A2 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Although Dorman's average daily volume is just 141,900 shares, its average daily dollar volume is nearly $18 billion.\nThe stock reached a record high and is extended, even with the breakaway gap.\n\n\n\n↑\nX\n\n\n\n\nHow To Buy Stocks: Earnings Gaps\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nHow To Buy Stocks: Earnings Gaps\n\n\n\n\nThe auto products maker reported higher-than-expected third-quarter earnings but sales below views late Thursday. But investors celebrated the company's raised full-year profit and net revenue guidance. Third-quarter earnings grew 40% on a modest 3% sales increase.\nDorman's relative strength line reached a 52-week high as shown by the blue dot on its MarketSurge charts.\n\nEnergy Stock Hits New High After Breakout\nIdacorp (IDA) bolted out of a flat base with a 105.24 buy point in huge volume Friday. By the afternoon it gave back about half the nearly 6% morning gain. The energy stock reached a 52-week high and is in a buy zone.\nThe Boise, Idaho-based electricity provider missed third-quarter earnings estimates but raised the lower end of its 2024 profit guidance range. Earnings grew a slim 2% on 3% higher sales. Its 2024 profit is projected to rise 5% then improve to 7% growth in 2025, according to MarketSurge. The stock holds a mediocre 52 IBD Relative Strength Rating.\nMarvell resumed its climb Friday after a two-day slide and broke out of a long base with an 85.76 buy point. The chip stock hit a 52-week high before falling back below the entry at the close. It managed to retain around 5% of the nearly 9% intraday gain. Its RS line also reached a 52-week high.\nMarvell profits have been flat to lower over the last seven quarters, with its fiscal third-quarter earnings also expected to dip before significantly improving next year. Likewise, its sales have declined for five out of the last six quarters, but are expected to ramp up over the next four quarters.\nFollow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.\nYOU MAY ALSO LIKE:\nAmazon Rival Set To Report Earnings After 103% Profit Surge | Stocks To Watch\n3 Stocks Ready To Rally In Bullish IBD Screen; One Shows 400% Expected Growth | Stocks To Watch\nNvidia's 84% Expected Profit Growth Looms Large In S&P 500 | Stocks To Watch\nLooking For Market Insights? Check Out Our Live Daily Segment | Stocks To Watch\nAs Gold Prices Hit New Highs, Is It Time To Buy Or Cash In Gold Stocks And ETFs? | Stocks To Watch","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480574438"}