3 Stocks Churning Up Momentum with Investors Now
Here’s a look at three companies that are making moves in premarket trading action.
1) Infosys Ltd. (NASDAQ:INFY) stock is slumping deeply this morning, down -6.30% on news that the India-based company’s revenues fell short of analyst targets. Infosys a global technologies company, reported net profit for the three months through June was INR17.22 billion [Indian Rupees], compared with INR14.88 billion a year earlier. First-quarter consolidated revenue rose about 21% to INR74.85 billion from INR61.98 billion a year earlier. Revenue in the previous three-month period was INR72.50 billion.
2) Fastenal Co. (NASDAQ:FAST) sliding up .14% this morning on news that the company’s second quarter revenues rose by a large margin over the past year. The industrial and construction supply vendor reported second quarter profit rose to $94.1 million, ot 32 cents a share, compared to $69.2 million, or 23 cents ashare a year ago. Keep an eye on these competitors today: General Electric (NYSE:GE), Lawson Products, Inc. (NASDAQ:LAWS), W.W. Grainger, Inc. (NYSE:GWW), Caterpillar Inc. (NYSE:CAT), 3M Company (NYSE:MMM), and Honeywell International Inc. (NYSE:HON).
3) Shares in elecom-equipment manufacturer Alcatel-Lucent (NYSE:ALU) dropped 3.2% in Paris after Deutsche Bank downgraded the stock to hold from buy, saying “key momentum indicators” for the firm are starting to slow down. The stock has traded down 1.25% in premarket action in New York this morning.