Radar Movers: Amazon Makes New Highs, Smith & Wesson and Freeport Climb Higher
Amazon.Com (NASDAQ:AMZN) shares continued to edge slightly higher in late afternoon trading. On Friday, the online retailer hit new all-time highs near $260, following the announcement of new HD Kindle Fires and e-readers the prior day.
Shares of Pandora Media (NYSE:P) plunged 16.7 percent, but bounced nearly 1 percent higher in late trading hours. The WSJ reports that Apple (NASDAQ:AAPL) is in discussions to license music in order to create a custom-radio service similar to Pandora. The service would work on iGadgets such as the iPhone, iPad and Mac computers.
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Smith & Wesson (NASDAQ:SWHC) shares continued to climb higher in late afternoon hours. The gun maker closed nearly 12 percent higher on Friday, after announcing that first quarter net income from continuing operations increased to $18.9 million (28 cents per share), compared to $2.3 million (4 cents per share) a year earlier. Revenue jumped 48 percent to $136 million. Competitor Sturm Ruger (NYSE:RGR) also traded higher on the news.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) edged higher in late afternoon trading. The company received a boost on Friday after China announced it will spend $156 billion on infrastructure, including new subways, highways and other projects.
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