10 Stocks Generating Huge Trading Interest May 10th
The Dow Jones (NYSE:DIA) is higher 46 points today at 12,731, the S&P 500 (NYSE:SPY) is holding above 1,350 and the Nasdaq (NASDAQ:QQQ) is up a half percent at 2,859 on the 89th trading day of 2011, and here is a group of stocks making moves on our radar and the reasons why:
- Microsoft Corporation (NASDAQ:MSFT): Shares are lower 1.33% to $25.49 per share on 85 million shares trading hands. The tech giant is putting some cash to work to purchase Skype for $8.5 billion. Here’s why the acquisition is a smart move for MSFT. Microsoft Corporation develops, manufactures, licenses, sells, and supports software products. The Company offers operating system software, server application software, business and consumer applications software, software development tools, and Internet and intranet software. Microsoft also develops video game consoles and digital music entertainment devices.
- CKX Inc. (NASDAQ:CKXE): Shares of CKX Inc. are trading higher 22.47% to $5.45 per share today. Over 33.5 million shares have traded hands. The parent company of ‘American Idol’ and 19 Entertainment has agreed to being purchased by Apollo Global Management for $5.50 per share, or $509 million in cold hard cash. CKX, Inc. owns and develops entertainment content. The Company owns the company that produces the American Idol television program, and controls the company that controls the name, image, and likeness of Elvis Presley.
- Boston Scientific (NYSE:BSX): Shares are down 9.86% to $6.95 per share today. Over 78 million share have traded hands today. CEO Ray Elliott suddenly announced his retirement after serving at the helm for 2 years and shareholders are lacking leadership confidence today. Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company’s products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.
- Level 3 Communications Inc. (NASDAQ:LVLT): Shares are trading higher 3.86% to $1.76 per share. Over 83 million shares have traded hands. The stock has hit its highest price level in the past month. Level 3 Communications, Inc. provides telecommunications and information services, including local, long distance, and data transmission. The Company also provides other enhanced communications and Internet services, and is involved in coal mining businesses.
- Fonar Corporation (NASDAQ:FONR): Shares of Fonar Corporation are trading higher 26.15% to $2.75 per share today. Over 1.2 million shares have traded hands today. Shareholders are giddy following a strong quarterly earnings report. Fonar Corporation designs, develops, manufactures, and sells magnetic resonance imaging scanners for the detection and diagnosis of human disease. The Company’s subsidiary, Health Management Corporation of America, is a physician practice management company providing management services to medical providers.
- Fossil, Inc. (NASDAQ:FOSL): Shares of Fossil, Inc. are trading higher 13.55% to $106.83 per share today. Over 2.7 million shares have traded hands today. Investors are happy with the company beating Wall Street estimates in their latest quarterly report. Fossil, Inc. designs, develops, markets, and distributes consumer fashion accessories. The Company’s products include an extensive line of men’s and women’s fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, and apparel.
- DealerTrack Holdings, Inc. (NASDAQ:TRAK): Shares of DealerTrack Holdings, Inc. are trading higher 19.15% to $25,39 per share today. Over 1 million shares have traded hands today on the heels of a strong quarterly earnings report. DealerTrack Holdings Inc. provides on-demand software and data solutions for the automotive retail industry in the United States. The Company utilizes the Internet to link automotive dealers with banks, finance companies, credit unions and other financing sources, and other service and information providers, such as the major credit reporting agencies.
- Wendy’s Arby’s Group Inc. (NYSE:WEN): Shares of Wendy’s Arby’s Group Inc. are trading higher 4.56% to $5.04 per share today. Over 13 million shares have traded hands. Even though margins shrank, the stock is up today. Wendy’s/Arby’s Group, Inc. is a holding company. Through its subsidiaries, the Company owns, operates, and franchises fast-food restaurants in the United States.
- BioMimetic Therapeutics, Inc. (NASDAQ:BMTI): Shares of BioMimetic Therapeutics, Inc. are trading lower over 35% to $8.67 per share today. Over 5 million shares have traded hands. BioMimetic Therapeutics, Inc. develops and markets drug-device products for the repair of orthopedic injuries to bond, cartilage, ligaments, and tendons. The Company combines protein therapeutics with tissue scaffolds to stimulate tissue healing and regeneration..
- SYSCO Corporation (NYSE:SYY): Shares of SYSCO Corporation are trading lower over 1.5% to $31.06 per share today. Over 6 million shares have trade hands today. Sysco Corporation distributes food and related products primarily to the foodservice industry. The Company also distributes personal care guest amenities, housekeeping supplies, room accessories, and textiles to the lodging industry.