Archive for the ‘Consumer Discretionary Stocks’ Category

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IDT-C, CGA speed ahead, BAC is hot, RDN is not

Monday, November 8th, 2010

IDT Corporation (NYSE: IDT-C) strengthened 37.38 percent in price by noon ET Monday to $16.98. IDT shares leaped off the shelves, trading in 178,167, in comparison to a three-month daily average of 4,741. Last week, IDT’s Board of Directors authorized an initial cash dividend of $0.22 per share to be paid on or about November 23 to shareholders of record at the close of business on November 15 of IDT Corporation Common Stock, Class A Common Stock and Class B Common Stock. IDT is a consumer services company with operations primarily in the telecommunications and energy industries.

China Green Agriculture Inc. (NYSE: CGA) gained 10.55 percent to $8.38 as the clock approached noon ET Monday. Volume was 574,045 in just the first half of the trading day, compared to the daily average of 590,935. This, despite word that class action lawsuit has been commenced in the United States on behalf of purchasers of the securities of China Green Agriculture, Inc. between November 12, 2009 and September 1, 2010. The complaint charges China Green and certain of its officers and directors failed to disclose accurate financial information during the Class Period.

Bank of America Corporation (NYSE:BAC) had a commanding position among volume stocks Monday morning, exchanging 106,512,045 shares, compared with a three-month daily average of 190,530,000 shares. The conglomerate inched ahead in price 1.17 percent to read $12.51 at the lunch hour in New York. The company serves clients through operations in more than 40 countries.

Radian Group Inc. (NYSE: RDN) took a spill of 11.16 percent in price to greet noon ET on Monday at $8.84. Volume in RDN stock came in at 6,313,939 shares, more than 50 percent above its three-month daily volume average. The Philadelphia-based mortgage insurer saw its shares drop, after announcing it will raise up to $350 million through a convertible notes offering to repay debt.

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IMPX shoots skyward, MNGPY volume leader, SGAMY jumps, SDVG takes header

Monday, November 8th, 2010

IMP, Inc. (Pink Sheets: IMPX) leaped 3,233.33 percent early in Monday’s trading to 0.01. Volume was 1,000 shares. The Group’s principal activities are to design, manufacture and market integrated circuit (IC) semiconductor devices.

Man Group PLC (Pink Sheets: MNGPY) was among the volume leaders in the small cap arena, trading in 1,420,288 shares. The price skidded 1.66 percent to $4.73 in the first two hours of trading. Man Group boasts it has built a significant managed accounts platform as an investor, in contrast to the flow-driven business model of other providers which tend to focus less on the underlying investment management application.

Sega Sammy Holdings, Inc. (Pink Sheets: SGAMY) jumped 1.52 percent in price Monday morning to $4.02, based on 1,382,727 shares. A leading maker of video games, SEGA is known for its Sonic the Hedgehog franchise.

Superior Development Group, Inc. (Pink Sheets: SDVG) very nearly halved its price Monday morning, tumbling 99.85 percent to three-100ths of a cent, on 1,950 shares. The stock has a 52-week range of up to 49 cents. The company, based in Clarksdale, Miss., is a real estate development consulting firm.

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CARV, HIHO, SIRI lead Nasdaq gainers; CCCLW falls

Monday, November 8th, 2010

Carver Bancorp Inc. (NasdaqGM: CARV) started the week with a bang, picking up 57.44 percent in price to $5.15. Volume was 58,409 shares, towering over its three-month daily average of 1,777.  Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank, founded in 1948 to serve African-American communities. Friday,the Company reported a net loss of $23.4 million for the second quarter of fiscal 2011 compared to a net loss of $300,000 for the second quarter of fiscal 2010 and a loss of $2.5 million for the first quarter of fiscal 2011.

Highway Holdings Limited (NasdaqCM: HIHO) leaped 47.17 percent in price to $3.90 early Monday, on volume of 357,331 shares, compared to a minute daily average of 20,842 shares. The Hong Kong-based company produces a wide variety of high-quality products for blue-chip original equipment manufacturers — from simple parts and components to sub-assemblies. Monday, HIHO reported third-quarter net income of $410,000 or $0.11 per diluted share, from $139,000, or $0.04 per diluted share, a year earlier. Net sales for same period climbed 50 percent to $7.8 million from $5.2 million a year earlier.

Sirius XM Radio Inc. (NasdaqGS: SIRI) led all Nasdaq stocks in volume early Monday with 21,898,076 shares. The satellite network maintains a three-month daily average of 74,017,600. SIRI gained a modest 1.44 percent in early Monday trading to $1.55. In the third quarter, SIRI reported revenue of $722.5 million, up 15 percent from the third quarter 2009 adjusted revenue of $629.6 million. Net income (loss) attributable to common stockholders for the third quarter of 2010 and 2009 was $67.6 million and ($151.5) million, respectively, or $0.01 and ($0.04) per diluted share.

China Ceramics Co. Ltd. (NasdaqCM: CCCLW) stumbled 18.34 percent in the first hour or so of trading Monday to $2.16. Volume was 2,332 shares, while three-month daily average was not available at press time. The leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring today announced third quarter revenue of $43.3 million U.S., up eight percent from the second quarter of 2010 and up 24.7 percent from the third quarter of 2009. Gross profit was $13.8 million U.S., up 10.1 percent from the second quarter of 2010 and up 24.2 percent from the third quarter of 2009.

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KEM spreads wings, C stumbles, REVU reverses

Monday, November 8th, 2010

Kemet Corporation (AMEX: KEM) ballooned in price 206.51 percent to start the week, leaping to $13.18 in the first hour of Monday’s trading. Volume was 77,353 shares, compared to a three-month daily average volume of 603,542 shares. Friday, the company filed an application with the state of Delaware for a reverse stock split of the Company’s common stock at a ratio of one-to-three. Kemet, based in Greenville, South Carolina, is a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors.

Citigroup Inc. (NYSE: C) slid in price to begin the week, by 0.45 percent in the first hour of Monday’s trading, to $4.45. The banking conglomerate led all volume gainers, however, with128,587,051 shares changing hands, compared to a three-month daily average of 460,630,000. Meanwhile, the Wall Street Journal reported that the Securities and Exchange Commission has subpoenaed a number of former Citigroup brokers, who contend the bank misled investors on risky bond funds.

The Princeton Review, Inc. (NasdaqGM: REVU) plummeted 20 percent in price in Monday’s first hour to $1.24. Volume was 256,776 shares, more than double its three-month daily average. The Framingham, Mass. provider of test preparation, educational support services and online career education services, reported third-quarter revenue increased 59 percent to $54.4 million from$34.3 million in the prior year period. Loss from continuing operations was $8.7 million in the third quarter of 2010, as compared to income of $144,000 in the prior-year period.

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IIIIU, CARV end week in orbit, BAC big seller, CO sinks

Friday, November 5th, 2010

Information Services Group Inc. (NasdaqGM: IIIIU) rocketed up 91.45 percent in Friday trading to close at $8.73. Volume was 65,393 shares, although the stock’s three-month daily average was not available at press time. The Stamford, Connecticut-based information-based services company has announced the release of third-quarter financial results, slated for after the close of trading Tuesday, November 9.

Carver Bancorp., Inc. (NasdaqGM: CARV) jumped 64.37 percent to close Friday’s trading at $3.27, on volume of 22,988 shares, towering over its three-month volume average of 1,429.Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank, founded in 1948 to serve African-American communities. Friday, the Company reported a net loss of $23.4 million for the second quarter of fiscal 2011 compared to a net loss of $300,000 for the second quarter of fiscal 2010 and a loss of $2.5 million for the first quarter of fiscal 2011.

Bank of America Corporation (NYSE: BAC) was among the volume leaders Friday, selling in 404,415,995 shares, compared to its three-month average of 186,392,000 shares. BAC gained a respectable 1.9 percent on the day to close at $12.36. The share volume follows word that BAC and Citigroup Inc. are considering whether to let employees use the Apple Inc. phone as an alternative to Research In Motion Ltd.’s BlackBerry for corporate e-mail.

China Cord Blood Corporation (NYSE: CO) hurtled earthward 29.86 percent in price to close Friday at $3.97. Volume was 4,643,558 shares, around 100 times its normal daily volume average. The company, which operates a blood bank in China for umbilical cord blood, announced it was pricing a sale of 8.1 million shares at a steep discount.

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