5 Scorching Stocks: Viacom Pops 3%, Exxon Searches for Oil, and Dillard’s Falls 5%
Shares of Activision Blizzard Inc (NASDAQ:ATVI) edged higher in early trading after announcing that Call of Duty: Modern Warfare 3 set a new record with $400 million worth of sales in the first 24 hours. Shares of Electronic Arts (NASDAQ:ERTS) also traded higher.
D.R. Horton (NYSE:DHI) is falling 2% after reporting fourth quarter profits. Reported a profit of $35.7 million (11 cents per diluted share) in the quarter. D. R. Horton Inc. had a net loss of $8.9 million or a loss 3 cents per share in the year earlier quarter. The company fell short of estimates calling for 15 cents per share. Dig Deeper: D. R. Horton Inc. Earnings Cheat Sheet: Margins Shrink on Rising Costs.
Viacom Inc. (NYSE:VIA) is popping more than 3%. The company announced on Friday that it will move its stock market listing to the Nasdaq Global Select Market from the New Yrok Stock Exchnage.
With oil (NYSEARCA:USO) closing in on $100 per barrel, shares of Exxon Mobil (NYSE:XOM) are climbing 1.3% higher. The company has also signed agreements to explore for oil and gas in six blocks in the Kurdish region of Iraq. Shares of Chevron (NYSE:CVX) are also trading 1.5% higher.
Despite increasing profits by 85%, shares of Dillard’s (NYSE:DDS) slip more than 5%. The company reported profits of $26.6 million (50 cents per share) for the third quarter. Gross margin, which measures the profitability of merchandise sold, was unchanged compared to a year earlier at 36.8% of sales in the quarter. Shares of Macy’s (NYSE:M) and Saks Incorporated (NYSE:SKS) are also trading higher at the open.
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