AMD ANTICIPATING Revenue Drop and 3 Hot Stocks Driving the Market
Under Armour Inc (NYSE:UA) has been a popular performance-wear brand in recent years. It is attempting to make it to $2B in sales by the end of the year, and despite being a tenth the size of Nike, it has made a major impact in the field. Shares of the company are trading 1.29% higher today.
Sunshine Heart Inc (NASDAQ:SSH) shares climbed 55.31% to $7.7499 at 9:45 a.m. The company had no debt for the last quarter and $3.83M in total cash.
WD-40 Corporation (NASDAQ:WDFC) shares were lower by 5% in after hours trading Monday following the company’s report that it plans on full-year European sales to be flat or lower than last year due to persistent volatility in the oil and the European markets. Following the market’s close, WD-40 turned in third-quarter earnings of $9.1 million, or 57 cents a share, in comparison to $8.1 million or 47 cents a share for the same time in 2011.
Advanced Micro Devices (NYSE:AMD): The chip maker is backing off after the company notably reduced its second quarter revenue guidance. AMD now plans for its second quarter revenue to fall 11%, in comparison with the first quarter. It had prior planned for its second quarter revenue to enlarge by 0-6% compared to that time. AMD reports that it lowered its guidance thanks to softer than planned channel sales in China and Europe, plus less demand than hoped from consumers. This morning, Wells Fargo issued a letter to investors responding to AMD’s announcement by lowering its price target range on the stock from $9-11 to $7-9. The firm was let down by AMD’s news, but persists in thinking the company will turn in an operating profit for the June quarter. It also thinks the stock is appealing at present levels. Wells is holding to an Outperform rating on AMD shares, which dropped 47c (8.36%) to $5.15 in early trading.
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