Wall Street snapped its three-session losing streak with gains on Wednesday that came after some companies reported unexpectedly strong earnings.
The Nasdaq composite offset Tuesday’s 43-point loss with a 43-point, or 2.1%, gain on Wednesday, while the Dow Jones Industrials Average climbed 171 points, or 1.6%, on Wednesday.
RV company stocks benefiting the most on Wednesday were Fleetwood, which gained 90 cents, or 8%, to close at $11.95, and Featherlite, which climbed 22 cents, or 13%, to close at $1.97.
However, highline Class A motorhome builder SMC, which lost its president and COO, Mike Jacque, to competitor National RV, saw its stock price decline 25 cents, or 8%, to close at $3.00.
And Spartan Motors, a supplier of diesel engine chassis to Class A motorhome builders, saw its stock price decline 25 cents, or 8%, to close at $2.75 on Wednesday. A possible explanation for Spartan’s stock price decline was the statement by the chairman of Cummins that Cummins has maxed-out its credit lines. Cummins is the primary supplier of engines for Spartan’s motorhome chassis.
Here is a roundup of the other RV stock price activity on Wednesday:
Winnebago gained 24 cents to close at $17.60
Thor gained 45 cents to close at $21.25
Coachmen gained 37 cents to close at $9.22
Monaco gained 64 cents to close at $19.04
National RV was unchanged at $8.03
Skyline gained 50 cents to close at $24.60
Holiday RV Superstores declined 11 cents to close at $3.78
Rexhall gained 14 cents to close at $4.95
Kit was unchanged at $3.20
Coast Distribution was unchanged at 65 cents
Starcraft was unchanged at $1.40