3 Stocks Generating Major Trade Momentum Today
The Dow Jones (NYSE:DIA) is up ahead of Memorial holiday weekend at 12,444, the S&P 500 (NYSE:SPY) is higher at 1,330 and the Nasdaq (NASDAQ:QQQ) is up at 2,796 on the 102nd trading day of 2011, and here is a group of stocks making moves on our radar and the reasons why:
1) Microsoft Corporation (NASDAQ:MSFT): Shares are up almost 1% to $24.85 per share today. Over 29 million shares have traded hands so far. Steve Ballmer is on the hot seat as David Einhorn continues to draw attention to the company’s leadership situation. 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. Competitors to Watch: Google Inc. (NASDAQ:GOOG), Novell, Inc. (NASDAQ:NOVL), Oracle Corporation (NASDAQ:ORCL), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Yahoo! Inc. (NASDAQ:YHOO), Apple Inc. (NASDAQ:AAPL), Adobe Systems Incorporated (NASDAQ:ADBE), Intel Corporation (NASDAQ:INTC), and Sony Corporation (NYSE:SNE).
2) Marvell Technology Group (NASDAQ:MRVL): Shares are up over 10% to $16.06 per share today. Over 42 million shares have traded hands. The stock is up higher on a very positive earnings report. Marvell Technology Group Ltd. designs, develops, and markets integrated circuits for communications-related markets. The Company’s products provide the interface between analog signals and the digital information used in computing and communications systems. Marvell’s technology is applied to the broadband data communications market. Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), PLX Technology, Inc. (NASDAQ:PLXT), Standard Microsystems Corp. (NASDAQ:SMSC), PMC-Sierra, Inc. (NASDAQ:PMCS), LSI Corporation (NYSE:LSI), STMicroelectronics N.V. (NYSE:STM), and NVIDIA Corporation (NASDAQ:NVDA).
3) Bank of America (NYSE:BAC): Shares are higher over 2% to $11.74 per share today. Over 67 million shares have traded hands. The bank’s former unit Countrywide will pay $20 million to settle a lawsuit accusation of wrongfully foreclosing on 160 military service members by not checking on their status. Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary. Competitors to Watch: Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), JPMorgan Chase (NYSE:JPM), HSBC (NYSE:HBC), Metlife (NYSE:MET), PNC (NYSE:PNC), U.S. Bancorp (NYSE:USB), Financials (NYSE:XLF) and Wells Fargo & Company (NYSE:WFC).