Cyber Monday might be over, but the Nasdaq rally sure isn't.
As tech continues to lead the broader market, the Nasdaq has enjoyed quite a bit of sustained success. Up about 28% since the start of the year, the tech-heavy Nasdaq has set its sights on further gains Tuesday, Nov. 28. Here are the top names leading the benchmark - and it's not just FANG stocks.
- Ulta Beauty Inc. (ULTA) led the Nasdaq 100 market movers Tuesday, up 3.5% in early afternoon trading. The company is expected to report third quarter earnings after the market close on Thursday, Nov. 30. FactSet analysts are looking for a per-share earnings figure of $1.66 on revenue of $1.34 billion.
- Ulta's Tuesday rally is a welcome sign of optimism for investors - shares have slid nearly 17% since the start of the year.
- Netflix Inc. (NFLX) shares jumped 2.12% Tuesday even as Federal Communications Chairman Ajit Pai on Tuesday announced plans to undo net neutrality rules passed by the agency less than three years ago aimed at ensuring that all internet traffic be treated equally. The regulations limit the ability of an internet provider to block or slow traffic and, most importantly, prevent favoring its own content through so-called fast lanes.
- Silicon Valley Is Laying Low on Net Neutrality
- Netflix CEO Reed Hastings said in May that net neutrality isn't his company's "primary battle." Perhaps staying out of the fray could bode well for Netflix.
- Tech Data Corp. (TECD) rallied 9.24% Tuesday, trading above $110 for the first time since August. The Florida-based wholesale technology product distributor reported better-than-expected earnings late Monday, Nov. 27. For the third quarter, Tech Data posted earnings of $2 per share, ahead of FactSet analysts' expectations by 8 cents. The company also raised its profit expectations for the fourth quarter by a penny.
- The company is widely regarded as an indicator for personal computer stocks, so its strong performance and rosy outlook could mean good news to come for the likes of Intel Corp. (INTC) and Microsoft Corp. (MSFT) .
- Tech Data's 'Amazing Quarter' Bodes Well for a Number of Tech Stocks
- Other major movers included Tractor Supply Co. (TSCO) up 2.56%, KLA-Tencor Corp. (KLAC) up 2.21% and Seagate Technology Plc (STX) up 2.12%.
More of What's Trending on TheStreet: