The "Chart of the Day" is Darling International (DAR), which showed up on last Friday's Barchart "NYSE 12-month high" list. DAR gapped higher last Friday and posted a 2-3/4 year high of $17.39 and finished the day up +9.3%. DAR looks set to challenge its all-time high of $17.52 posted in July 2008. Late last Thursday afternoon, Darling International reported Q1 profit of $46.6 million, quadrupling its earnings of a year ago on the strength of higher prices for its products and a strong performance by its newly acquired Griffin Industries unit. Net income for the three months ended April 2 amounted to 43 cents per share, up from $11.5 million, or 14 cents per share, in the first quarter of 2010. Revenue was $439.9 million, more than double from $162.8 million in the same period a year earlier. DAR easily exceeded market expectations of 29 cents per share on revenue of $371.3 million. Trendspotter (tm) turned to a buy on DAR last Wednesday. Darling International, with a market cap of $1.830 billion is is America's leading provider of rendering, recycling, and recovery solutions to the nation's food industry. It provides recycling and rendering services in which animal and food waste products are turned into useful commercial goods, including tallow, protein meals, and yellow grease. DAR also services the restaurant industry by removing used cooking oil and pumping grease traps.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "New Highs/Lows" page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. Then we applied a "Custom View" heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
Barchart's Opinion trading systems are mostly a Buy and Barchart's daily Trendspotter(tm) trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- Trendspotter: Buy
- Short-Term Indicators: 100% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Barchart links for further information:
Quotes and Charts
Trader's Cheat Sheet™
Chart of the Day Archive
View Past Chart of the Day Reports