Why is Volume High in These Stocks February 9th?
With the Dow Jones (NYSE:DIA) trading at 12,230, the S&P 500 (NYSE:SPY) at 1320 and the Nasdaq (NASDAQ:QQQQ) at 2,793 on the 27th trading day of 2011, here is a group of stocks making moves on our radar and the reasons why:
1) NYSE Euronext (NYSE:NYX): The Company operates a marketplace for equities and derivatives in Belgium, France, the Netherlands and Portugal, derivatives in the United Kingdom, and equities and other securities in the United States. Over 17 million shares have traded hands today as the stock is up 14.88% to $38.38 per share. Rumors are flying around of a potential buyout by Deutsche Börse. The merger would be an all-stock deal and would create the world’s largest exchange operator by revenues. Deutsche Börse shareholders would hold about 59% to 60% of the newly created entity and NYSE Euronext shareholders will hold about 40% to 41%.
2) Cisco Systems (NASDAQ:CSCO): Cisco supplies data networking products for the Internet. Earnings are slated to be released today after-the-bell. The stock is trading flat at $22.07 per share and was one of the Dow dogs with lackluster performance in 2010. Analysts are expecting $.35 per share on $10.24 billion in revenues. Watch, wait and see what they have up their sleeves this afternoon…
3) Polo Ralph Lauren Corporation (NYSE:RL): RL designs, markets, and distributes men’s, women’s and children’s apparel, accessories, fragrances, and home furnishings. The stock is trading up over 9% to $126.72 per share today on news of a strong quarterly earnings report. The company net income rose to $168.4 million, or $1.72 per share, from $111.1 million, or $1.10 per share, a year earlier. Revenue rose 25% to $1.5 billion to $1.2 billion last year. Analysts expected revenue of $1.45 billion.
4) Photronics Inc (NASDAQ:PLAB): Photronics manufactures photomasks, which are high precision quartz plates that contain microscopic images of electronic circuits. Shares are up 14.73% to $7.71 per share today. The company said it would beat earnings. PLAB expects net income per share of $.17 to $.19 cents, compared with previous guidance of $.10 to $.14 cents. Photronics expects sales of between $119 million and $120 million, up from previous guidance of $107 million to $111 million.
5) Ingersoll-Rand PLC (NYSE:IR): IR is a diversified, global company that provides a diverse range of products and services for a wide range of industries. The stock is down 5.69% to $46.23 per share today after issuing a quarterly earnings report that missed analyst estimates. said its net income grew to $212.1 million, or $.62 cents per share, from $139.4 million, or $.42 cents per share. Revenue rose 13%, to $3.71 billion from $3.28 billion.
6) Prudential Financial (NYSE:PRU): Prudential provides financial services throughout the United States and several locations worldwide. Shares are down 1.81% to $62.85 per share. The company’s U.S. COO announced his resignation recently and as always a change in leadership makes for uneasy shareholders. Meanwhile, AIG (NYSE:AIG) expects a charge of $4.1 billion for loss reserves.
7) Coca-Cola (NYSE:KO): Coca-Cola manufactures, markets, and distributes soft drink concentrates and syrups. The stock was at $64.50 per share this morning on a strong earnings release. The company said it it earned $5.77 billion, or $2.46 per share, for the quarter. That’s up from $1.54 billion, or 66 cents per share, in the same quarter last year. Revenue rose 40% to $10.49 billion for the quarter, besting expectations of $10.16 billion.
8) MetLife (NYSE:MET): MetLife provides individual insurance, employee benefits and financial services with operations throughout the United States and the regions of Latin America, Europe, and Asia Pacific. Shares are down 1% to $48 per share today. The company is releasing its latest quarterly report after-the-bell today. Analysts are expecting $1.10 per share on $13.5 billion in revenue.
9) Akamai Technologies (NASDAQ:AKAM): Akamai provides global delivery services for Internet content, streaming media, and applications and global Internet traffic management. Shares of the tech company are up almost 1% to $48.50 per share. Earnings are slated for today. Analysts expect $.38 per share on $238 million in revenue. Let’s all not forget that current President David Kenny once sold his previous company Digitas for a large sum of money. Speculators are buzzing about another potential deal in the works for Kenny as M&A continues to heat up…
10) Northrop Grumman Corporation (NYSE:NOC): NOC is a global security company. Shares are up 1.59% to $72.22 per share today. The company earned $376 million, or $1.27 per share, compared with $413 million, or $1.31 per share, in the same quarter of 2009. Revenue dropped 4% to $8.61 billion. Investors are still fleeing to security and defense as this company still steadily pays a 2.7% annual dividend.
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