A. O. Smith Reaches New Highs
A.O. Smith (AOS) is surging to new all-time highs today. The shares are up over 7% on very heavy trade after the industrial electric equipment company reported a 16% rise in profit for the first quarter. Investors jumped on the stock immediately following the pre-market news, sparking a powerful gap-higher open.
AOS began the session just above heavy resistance near its March peak of $46.30. Within the first few minutes of trade, the stock had reached its previous all-time high of $47.00. AOS hit this level in mid-February after its major bull run off the Oct. 4 lows ran out of steam. This morning's ramp stalled here for a short time, but the powerful momentum unleashed on the bell has easily cleared the former highs....252 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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