Even by August’s traditionally sluggish standards, this was an incredibly slow month.
Stocks trudged ahead at a snail’s pace, gaining little by little in a month when the trading range was as narrow as it’s been in two years. The S&P 500 inched forward 1.9%, while the Dow Jones Industrial ticked up a mere half percent.
Meanwhile, volume was as low as it’s been all year.
It was a dull month, to be sure. But there were a number stocks that made exciting moves – at least if you were a shareholder.
Here were three of August’s biggest winners:
- Michael Kors (NYSE: KORS): It seems nothing can slow this freight train of a stock down. KORS shares vaulted another 30% this month, pushing the stock up 124% since its IPO last December. A stellar earnings report had a lot to do with the luxury apparel company’s latest push. Second-quarter profits increased 71% from the year before. At 55 times trailing earnings, the stock is getting a bit expensive. But in eight months of public trading, Michael Kors has yet to waver.
- Tesoro (NYSE: TSO): Oil prices bounced back in August. And this mid-cap oil refiner rallied along with them. Tesoro shares popped 43% this month to reach their highest level since early 2008. The stock has now gained 65% in 2012.
- Green Mountain Coffee Roasters (NASDAQ: GMCR): Late July was rock bottom for this specialty coffee company – a Wyatt Investment Research neighbor up here in Vermont. The stock had fallen below $18 a share – six times less than the $110 it was trading for just a year earlier. Having hit a bottom, though, GMCR shares bounced back with a vengeance this month. The stock gained 32% in August to close finish at roughly $24 a share. It’s still a shell of what it was a year ago. But at least it’s a profitable company that’s back on the upswing.