3 Active Stocks: Brocade Rises 6.6%, Netflix Up 13%, Wells Fargo Climbs 1%
The S&P 500 Index is trading at 1,280 in market action on Monday. Investors are looking at upside resistance of 1,285 for a rally to ignite. Here are 3 stocks that moving upward with good reason:
Brocade Communications (NASDAQ:BRCD) pauses after soaring on a Reuters report that the company has received bids from a “handful” of potential buyers. Reportedly, the firm has hired Qatalyst Partners Frank Quattrone to prospect a sale.
Although Netflix (NASDAQ:NFLX) has already climbed more than 30 percent this year, Whitney Tilson thinks the stock “should go crazy to the upside.” Tilson cites four reasons: Netflix is an easy acquisition for heavy hitters; Wall Street overreacted to the downturn; the company has new offerings in the U.K. and Ireland and is seeing renewed subscriber growth in the U.S.
Wells Fargo (NYSE:WFC): As earnings season begins, the SEC asks banks to give more detail about their exposure to European debt. The new guidelines say banks need to detail the counterparties in any credit default protection, plus specifically list exposure by individual countries and by sovereign vs. corporate, vs. financial.
Further Reading: S&P 500 Winners: Juniper Networks and Netflix Spike 7%>>
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