Alcoa Shares Surge and 4 Movers Demand Attention

October 19, 2012

Abbott Laboratories (NYSE:ABT) made an announcement back in January that 700 employees from the heart stents and diagnostic testing units would be laid off; in early 2011, around 1,900 were eliminated as a part of restructuring. A $478 million pretax restructuring charge was calculated by Abbott for expenses to be incurred in 2013.

General Electric Company (NYSE:GE) officials have sold $3.78 million in shares over the past three months while at the same time, others have bought $408,800 worth, says an insider trading report. The company recently reported that Brad Berenson has been named Senior Counsel for Litigation and Legal Policy. At Wednesday’s close, shares climbed by 1.19 percent finishing at $22.91 while the stock traded in a range between $22.72 and $22.92. GE has a market cap of $241.90 billion with price range within $14.68 and $23.18 during the past 52 weeks. Also on Wednesday, there were 28.27 million shares of General Electric changing hands versus its average daily volume of 46.50 million shares.

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Intel Corporation. (NASDAQ:INTC) saw its hopes for a recovery in PC demand by the end of 2012 swept away by margins with weaker outlook for fourth-quarter revenue which drove shares 2 percent lower as well. The firm and its competitor Advanced Micro Devices had previously issued a warning in regards to weakening demand for PCs in the troubled world economy along with rising popularity of tablets such as the iPad, which was at one time dismissed as a decorative device but is now driving a fundamental shift in consumer trend.

International Business Machines Corporation (NYSE:IBM) released in a statement after the market close that its revenue fell by 5.4 percent to $24.7 billion, which was under the $25.4 billion median analyst forecasts, according to Bloombergcompiled data. The company said that profit, subtracting special items, moved up by 5 percent to $4.2 billion, or $3.62 per share, against a consensus of $3.61.

Alcoa (NYSE:AA) and Caterpillar (NYSE:CAT) saw decreases of 2 and 3 percent, respectively.

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