4 Companies Stealing the Show in After Hours Trading
1) Sirius XM Radio Inc. (NASDAQ:SIRI): Shares of the world’s leading satellite radio provider are making a whirlwind of activity in after hours trading today. The high-volume action surrounding Sirius comes with news that Pandora radio is gearing up towards an IPO of its own and may prove to be the first real competitor for Sirius as it has made efforts to broker deals with the auto industry. Pandora will trade under a one-letter stock ticker (P). Shares of Sirius were down -2.3% in trading today but have rebounded by .25% after hours.
2) Bank of America. (NYSE:BAC): Bank of America shares were slammed in trading today as bad news continues to swell around the larger financial sector (NYSE:XLF). More news of pending financial and legal trouble for banks, including possible Moody’s downgrades on debt ratings, federal investigations related to the financial crisis, and lower revenues due to legislative reforms, coupled to drill shares of major financial companies today. Bank of America shares were down -3.99% on the day and are up .18% after hours.
3) Gap Inc. (NYSE:GPS): Shares of holdings in the brand-name clothing retailer were down slightly in high volume trading today. In spite of an analyst upgrading targeted projections for the stock the company’s shares wavered due largely to weak retail sales data and lagging economic indicators. Gap’s sales were down 4% in May. Shares of GPS are down -.28% after hours. Now See Why Luxury Retailers Are Thriving.
4) American Eagle Outfitters (NYSE:AEO): Gap’s fellow clothing retailer and competitor’s stock broke even in trades over the day despite an analyst upgrading the stock from “sell” to “hold.” After hours trading has seen Eagle stocks dip -.31% on news that the company is planning to close 100 or more stores in the near future as sales demand continues to recede.
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