Posts Tagged ‘Stocks’

CIMT jets ahead, C, BAC hold own, SMT down on downgrade

Wednesday, November 10th, 2010

Cimatron Limited (NasdaqCM: CIMT) stood out amid all the initial gloom on Wednesday, gaining 68.54 percent in price to $3.00 in the first trading hour. Volume broke away from its three-month daily restraints of 6,132 and crowded the half-million mark to begin the day. The Israeli-based provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries announced third-quarter revenues were up 26% from the same quarter last year.

Citigroup (NYSE: C) proved the volume leader early Wednesday, trading in 107,771,989 shares in the first hour. The banking group even managed to forge ahead in price by 0.47 percent to $4.32.

Bank of America Corporation (NYSE: BAC) traded in 48,192,182 shares in the first hour Wednesday, compared to a daily three-month average of 193,972,000. BAC shares inched up 0.16 percent to $12.29.

Smart Technologies Inc. (NasdaqGS: SMT) saw its price tumble 27.47 percent in Wednesday’s first hour to $9.48. Volume in SMT hit 6,537,933 shares in the opening hours, more than 10 times its three-month average. The slip comes after a downgrade by RBC Capital Markets to “sector perform” from “outperform”.

Top Buzz Stock Gainers (SIMG, NBR, AMLN, CML)

Wednesday, October 27th, 2010

Silicon Image, Inc. (NasdaqGS: SIMG) Stocks of SIMG are currently trading at $6.29 on massive volume, up more than 38 percent from Tuesday’s closing price of $4.55 SIMG is racing to two-year highs on reported third-quarter sales of $60.5 million, 20% stronger than analyst expectations and  more than three times expected earnings.

Nabors Industries, Inc. (NYSE: NBR) Shares of Bermuda-based Nabors were up 5.02 percent at $20.42, after the company reported a 29-cent per share quarterly profit, which beat Street estimates by 6 cents. Nabors’ revenue of $1.08 billion also came in ahead of the forecast of $963 million. The stock is still down 7 percent so far in 2010.

Amylin Pharmaceuticals, Inc.(Nasdaq: AMLN) soared 11.3 percent to a high of $13.36, on more than four times average volume. Shares skyrocketed after the maker of the diabetes treatment Byetta was raised to “outperform” from “market perform” at Leerink Swann & Co.

Compellent Technologies Inc. (NYSE: CML) Volume skyrocketed to 6.5 million today as shares touched on a 52-week high of $26.44, representing a 32 percent increase over previous day close of $19.70. Compellent Technologies, which sells data storage to large businesses, surged after beating Wall Street expectations in the third quarter, and amid rumors of an acquisition by computer maker Dell Inc. 

Mid Day Market Movers (LIFE, UHN, ABT)

Wednesday, October 27th, 2010

Life Technologies Corporation (Nasdaq: LIFE) jumped more than 6 percent  to $50.66 from yesterday’s closing price of 47.79, with more than double average volume. The maker of biotech tools reported quarterly net income of $105.5 million, or 56 cents a share, on revenue of $867.1 million, besting analysts’ predictions of 78 cents a share on revenue of $855.2 million. The company also forecast full-year adjusted earnings of $3.48 to $3.52 a share, compared with a Street consensus of $3.42 a share on Tuesday.

UnitedHealth Group Incorporated (NYSE: UNH) dropped more than 5 percent Wednesday touching on a low of $35.70 from the previous days’ close of $37.57 on above-average volume. The stock is still trading very near a 52-week high of $37.95. The company recently reported third quarter increase in net income of 23%, to $1.28 billion, or $1.14 per share, from $1.04 billion, or 89 cents per share, from the same period last year.

Abbott Laboratories (NYSE: ABT) dipped nearly 3 percent trading on below-average volume, touching on a low of 51.03 from Tuesday’s close of $52.69. The Company recently reported strong third quarter results, notably; earnings-per-share growth of 14.1 percent, worldwide sales increase of 11.8 percent, and promising expansion in emerging markets.

Wednesday’s Biggest Losers (JNY, CENX, OC)

Wednesday, October 27th, 2010

Jones New York (JNY)

Jones New York decreased 23.41%, falling to $14.95 after the company reported lower-than-expected third quarter results. The Company reported adjusted earnings per share were $0.54, falling $0.07 cents below analysts’ estimates of $0.61, for the third quarter of 2010, compared to adjusted earnings per share of $0.46 in the same period last year.

Revenue increased 19.4% year over year to $1.2 billion, compared to $856 million for the third quarter of 2009, which was on par with analysts’ estimates.

Century Aluminum Company (NASDAQ: CENX)

Century Aluminum Company (NASDAQ: CENX) slipped 5.50% to $12.88 in the pre-market trading after the company reported third quarter losses of $16.8 million, or 18 cents a share, from a profit of $40.1 million, or 45 cents a share a year ago.

Sales grew to $279.2 million from $228.7 million, a year ago. Analysts had estimated profit of 8 cents a share on revenue of $269.47 million.

Management indicated that higher raw material costs, primarily for carbon anodes, much of which is transitional, led to a quarter over quarter decrease in net earnings of about $4 MM, or approximately $0.04 in EPS.

Owens Corning (NYSE: OC)

Owens Corning (NYSE: OC) is currently trading at 27.10, down nearly 4% from Tuesday’s closing price 28.20. Shares of Owens Corning are on the slide this morning after the company said it earned $58 million, or 46 cents per share, during the third quarter. Excluding one-time items, OC earned 35 cents per share on revenue of $1.19 billion. Analysts had forecast a profit of 37 cents per share on revenue of $1.26 billion.

Saks, Incorporated (NYSE: SKS) Buzz Stock of the Day

Tuesday, August 31st, 2010

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Sask Fifth AvenueShares of luxury goods provider Saks Incorporated (NYSE: SKS) skyrocketed Tuesday as acquisition rumors gained momentum, rallying as much as 34.00% at the open  to secure an intraday high of $8.85. Saks shares are currently hovering at $8.13 in afternoon trading, a 23.2 percent increase from yesterday’s close. Before Tuesday, Saks’s stock had risen less than 1% this year, outpacing the S&P Retail Index’s 3.5% decline.

Britain’s tabloid Daily Mail newspaper, which isn’t citing named sources, reports that a group of American and British private-equity houses have been reviewing Saks for months and are looking to make an offer for the company for $11 a share, or $1.7 billion. Saks spokeswoman Julia Bentley said the company doesn’t comment on rumors or speculation.
[–quote–]
There are numerous attributes that might make Saks attractive to potential buyers. The luxury-fashion retailer has seen its earnings improve recently because of cost-cutting and higher demand for high-end products. Luxury goods sales have held up relatively well throughout the downturn, partly because unemployment is significantly lower for people with white-collar jobs, at around 5%, compared with the national 9.5% rate.

Under Chief Executive Steve Sadove, Saks has narrowed its losses and improved its sales after demand faltered in the wake of the financial-sector meltdown in 2008 that led the company to offer sharp discounts.  To bolster company financials, Saks issued $120 million in May 2009 in convertible debt and in October completed a $100 million common stock offering to help it reduce borrowings on its revolving line.