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Bullish Stocks Trading Higher Than Their Pivot Point: $ESE $SPR $ATCO

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ESCO Technologies Reports Its Fiscal Q3 2020 results

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ESCO Technologies Inc. (NYSE:ESE) is trading at a higher price than its pivot point 166.42, thus indicating a bullish day. The company has reported its fiscal Q3 2020 results for the quarter ended June 30, 2020. During the quarter the company compared the sale of the Technical packaging unit resulting in gross proceeds of $191 million and a net gain of $77 million or $2.93 per share on the sale in Q1 2020. GAAP earnings in Q3 2020 were $0.72 per share including $1.2 million or $0.04 per share of incremental costs associated with the coronavirus pandemic. Adjusted EPS in the quarter was $0.76 with Net GAAP earnings being $19 million. Adjusted EBITDA in Q3 2020 was $35 million with net sales coming in at $173 million.

Spirit AeroSystems Holdings Welcomes Back To Work 900 Furloughed Employees

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Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is also showing a bullish day and currently trades at a higher price than its pivot point 20.83. Recently the company welcomed back around 900 employees that have been on unpaid furloughs in the past two months. In early June the company had announced three-week furloughs which extended to two months on June 25, 2020. The furloughs and the layoffs experienced at the company are due to the pandemic and the halt in production of the Boeing 737 MAX.

The Boeing 737 MAX is expected to resume operations at the end of the year after the Federal Aviation Administration gave a list of fixes that it needs to meet before resumption.

Atlas Corp Posts Record Q2 2020 Revenue of $363.8 Million

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Another stock indicating a bullish day is Atlas Corp. (NYSE:ATCO) which is trading at a higher price than its pivot point 8.19. The company has announced its Q2 2020 results in which it posted a record quarterly revenue of $363.8 million in its maiden full quarter of APR ownership. The company had funds from operations of $0.64 per diluted share and adjusted EBITDA of $238.9 million.

At the end of the quarter, the company's liquidity was $382.9 million and it also extends its revolving credit facility of $150 million. Also, the company declared a dividend of $0.125 per share and this will be 15 consecutive years the company is distributing dividends.

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