Fossil Inc (FOSL), EOG Resources Inc (EOG), DIRECTV (DTV): Today’s Three Best Stocks

Fossil IncNot to sound like a broken record or anything, but the broad-based S&P 500 hit its fourth consecutive all-time record high.

Like yesterday, economic data had very little to do with the move so much as it improved earnings across a wide swath of industries. In fact, as you’ll see below, today’s three top performers all rallied because of their earnings results. Tomorrow’s Mortgage Brokers Association Index and Thursday’s initial jobless claims could be the big S&P 500 catalysts over the coming days, but earnings remain the driver in the meantime.

For the day, the S&P 500 finished higher by 8.46 points (0.52%) to close at 1,625.96.

Leading the S&P 500 higher was fashion accessories maker Fossil Inc (NASDAQ:FOSL), which blew past the Street’s estimates in the first-quarter and gained 9% on the day. For the quarter, revenue rose 15% to $680.9 million as adjusted EPS gained 16% to $1.08. Results were driven by double-digit watch growth, a 22% rise in direct-to-consumer sales, and a nice reversal in Europe, where its wholesale business grew 14%. Furthermore, Fossil Inc (NASDAQ:FOSL) raised its full-year EPS forecast for the year to a range of $6-$6.26 from its previous outlook of $5.85-$6.15. While I’ve long been a fan of Fossil Inc (NASDAQ:FOSL), this report could also foretell that a big beat is coming for Michael Kors Holdings Ltd (NYSE:KORS), with which Fossil Inc (NASDAQ:FOSL) has a watch manufacturing agreement.

Oil and natural gas driller EOG Resources Inc (NYSE:EOG) had an incredibly strong day, gaining 7.7% following an estimate-crushing first-quarter report. Revenue for the quarter jumped 20% to $3.36 billion as profits soared 53% to $1.82 per share as it increased its oil production by a third. EOG Resources Inc (NYSE:EOG) attributed its success to new refinement techniques in completing wells in the Eagle Ford shale region, which should allow the company to expand faster than its rivals. Comparatively, Wall Street had expected just $3.12 billion in revenue and $1.17 in EPS. Led by a truly incredible CEO in Mark Papa, there’s no reason why EOG Resources Inc (NYSE:EOG) can’t head even higher.

Finally, satellite TV provider DIRECTV (NASDAQ:DTV) tacked on 6.9% after its first-quarter results also easily topped estimates. Thanks to $1.38 billion in share repurchases as well as the addition of 604,000 net subscribers, DIRECTV (NASDAQ:DTV) reported a nearly 8% increase in revenue to $7.58 billion as EPS increased to $1.43. Analysts, on the other hand, had expected $7.53 billion in revenue but just $1.10 in EPS. The key for DIRECTV (NASDAQ:DTV) is in the differentiation from DISH Network Corp (NASDAQ:DISH), which is allowing consumers more choices and helping to increase average revenue per user in a very challenging economic environment. Still priced very reasonably, DIRECTV (NASDAQ:DTV)’s run higher may not be over.

The article Today’s 3 Best Stocks originally appeared on Fool.com and is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool recommends and owns shares of Fossil. It also recommends DIRECTV.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!