Posts Tagged ‘Financial Stocks’

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Farmer Mac, BJ’s gain, F sells widely, MFB drops on lower profits

Wednesday, November 10th, 2010

Federal Agriculture Mortgage (NYSE: AGM) shot ahead 12.67 percent in price by mid-morning Wednesday to $14.85. Volume approaching noon registered at 276,770 shares, more than double its daily average. The lender known as Farmer Mac Tuesday reported net income of $6 million, or 56 cents a share, for the three months ended Sept. 30. That compares with net income of $17.9 million, or $1.74, a year earlier.

BJ’s Wholesale Club Inc. (NYSE: BJ) enjoyed a 9.37-percent surge in price to $45.95 late Wednesday morning. Volume in BJ shares was a hot 2,428,532 shares, compared to a daily average of 782,079 shares. BJ’s, a leading warehouse club chain in the eastern United States, has set next Wednesday, Nov. 17, as the date for announcing its third-quarter results.

Ford Motor Company (NYSE: F) was among the volume leaders as Wednesday morning drew to a close. Ford saw 54,740,099 shares trade hands early, compared to a daily average of 68,220,100 shares. F gained 2.8% in price to $16.52. The carmaker reported Tuesday that its Ford Focus will be the official car of the 2011 International CES held on Jan. 6-9 in Las Vegas.

Maidenform Brands Inc. (NYSE: MFB) slumped in price 12.96 percent late Wednesday morning to $25.25. Shares traded totaled 961,100, trumping its daily average of 266,811. The underwear maker Maidenform Brands Inc. reported its third-quarter net income fell 20 percent from a year ago. Net income fell to $12.8 million, or 55 cents per share, from $16 million, or 67 cents per share, as revenue rose 13 percent to $145.8 million from $128.7 million last year.

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Posted in Consumer Discretionary Stocks, Consumer Staples Stocks, Financial Stocks | No Comments »

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”.

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Posted in Financial Stocks, Industrial Stocks, Technology Stocks | 1 Comment »

WRLS, C climb, DXCM struggles

Friday, November 5th, 2010

Tellular Corpoartion (NasdaqGM: WRLS) roared out of the blocks Friday, gaining 47.41 percent in the first hour of trading to $5.97. Initial volume of 790,060 shares trampled its three-month daily average of 20,212 shares. Excitement followed in the wake of Thursday’s announcement of Q4 revenues and earnings. The Chicago-based wireless concern reported revenue of $12.0 million, up 17 percent year-over-year, and net income before non-cash items of $2 Million.

Citigroup Inc. (NYSE:C) led the volume parade in early trading Friday, trading in 274,020,554 shares in just the first hour. Normal volume for a day is around 448,837,000 shares. The banking conglomerate also gained 3.35 percent to $4.47. The news comes in spite of word this morning that several Citigroup, Inc. investors, including Charles Schwab Corp. and hedge fund Cambridge Place Investment Management have sued the bank over its mortgage underwriting processes.

DexCom Inc. (NasdaqGM: DXCM) took a thumping of 19.34 percent in early Friday trading to $11.22. Volume was 3,568,238 shares, dwarfing its three-month daily average of 337,547 shares. The company, which develops and markets continuous glucose monitoring systems for use by diabetics, reported total third-quarter revenue of $11.7 million, up 61 percent from the same quarter in 2009, but a net loss of $13.4 million, down from $13.5 million for the year-ago quarter.

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Posted in Financial Stocks, Health Care Stocks, Technology Stocks | No Comments »

C, SPY, BAC shares fly off shelves

Tuesday, November 2nd, 2010

Citigroup Inc. (NYSE: C) eked ahead 0.72 percent to $4.18 on 83,470,881 shares, to lead the midday volume pack Tuesday. Three-month daily average is 445,224,000. The stock’s 52-week range travels between $3.11 and $5.07. On Monday, Citi announced that its Global Transaction Services had been appointed depositary bank by Sumitomo Mitsui Financial Group, Inc. one of the largest banks in Japan.

SPDR S&P 500 ETF Trust (NYSEArca: SPY) picked up 0.65 percent in price to $119.37 by noon, on runner-up volume of 65,526,631, compared to three-month daily average of 192,600,000 shares. The stock’s 52-week range slid to 101.13 before vaulting to a peak of 122.12.

Bank of America Corporation (NYSE: BAC) settled back 1.26 percent to $11.35 at lunchtime, on volume of 64,880,210 shares, compared to the three-month average of 182,537,000 shares.  BAC was among the banks helping CITIC Dameng raise up to $400 million U.S. in an initial public offering of shares in Hong Kong by the end of this year.

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Posted in Financial Stocks, Penny Stocks | No Comments »

Sun Bancorp, Inc. (SNBC) – Buzz Stock of the Day

Thursday, July 8th, 2010

Shares of Sun Bancorp, Inc. (Nasdaq: SNBC) surged 47 percent in morning trading on Thursday after the company announced that billionaire investor, Wilbur Ross will be acquiring a 25 percent stake in the New Jersey-based bank chain.

Ross, who has acquired stakes in banks in Florida and Michigan, said he expects thousands of U.S. banks to fail as a result of the financial crisis. Ross and the bank’s founding Brown family will buy $100 million of common and preferred stock at $4.00 a share, equal to a 24.9% stake, in Sun Bancorp, Inc., the parent of Sun National Bank. The transaction still has to be approved by shareholders.

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The Vineland-based Sun Bancorp, Inc. has $3.5 billion in assets and 70 branches in the state of New Jersey. Ross will join the boards of Sun Bancorp and Sun National, the bank said. Sun National Bank — Sun Bancorp’s main subsidiary — could be the first of many banks Ross acquires in New Jersey, he told the New York Times on Wednesday.

The cash injection would also raise Sun Bancorp’s Tier 1 risk-weighted capital — a common measure of capital strength — to 13 percent or above. The bank said that level was above the 9.5 percent required by the Office of the Comptroller of the Currency under an April agreement.

Check out this interview with Wilbur Ross, conducted in August of last year. Great insight into his views on the banking industry:

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Posted in Financial Stocks | No Comments »

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