VG clicks, S sprints, FDO bogs down

Posted on Wednesday, January 5th, 2011

Vonage Holdings Corp. (NYSE: VG) soared 17 percent in price Wednesday to $2.69. Volume for VG was 11,214,128 shares, more than its all-day average, as the company said that it added 6,000 lines in the most recent quarter — the first quarterly gain in subscribers in more than two years.

Sprint Nextel Corporation (NYSE: S) was a volume leader Wednesday, trading in 61,162,329 shares, or about 10 percent more than its daily average. Prices for the stock gained 4.5 percent to $4.65. The third-largest U.S. wireless carrier refused to purchase debt form Clearwire Corp. (Nasdaq: CLWR), which is running a risk of defaulting its loan agreements. Sprint shares rose on this news.

Family Dollar Stores Inc. (NYSE: FDO) dropped 8.4 percent Wednesday to $45.17, on volume of 8,908,228 shares, nearly five times its full-day average. FDO said that its fiscal first-quarter profit climbed 10 percent as more shoppers came to its stores to purchase items like candy and food.

Tags: , , , , , , ,

Leave a Reply