More than 60 percent of the companies in the S&P 500 broke to new highs during January’s new year rally, and a diverse group are among the first to make a comeback after February’s correction.
In the S&P 500, 23 stocks bounced back to their 52-week highs at some point in Friday’s trading.
We looked at companies that were about 1.5 percent or less from their highs and found 33. The S&P 500 was still 4.8 percent from its January high in Friday afternoon trading, after its 10 percent correction.
The bounce-back stocks are from all different sectors, including tech names Cisco and Intuit and defense companies Raytheon, Lockheed Martin and Northrop Grumman. Financial names PNC and M&T Bank Corp and consumer companies Nike and Estee Lauder also made the list.
