5 Super Hot Stocks: Best Buy Approves Dividend, First Solar Drops 14%, and Avon Jumps 10%
Despite following more than 10% yesterday, Best Buy (NYSE:BBY) is edging higher in early trading. The board of directors approved a regular quarterly cash dividend of 16 cents per share. The quarterly dividend is payable on January 24, 2012 to shareholders of record as of the close of business on January 3, 2012. Shares of electronic retailer Amazon (NASDAQ:AMZN) are down about 1% this morning.
First Solar (NASDAQ:FSLR) is trading down 14% after cutting its 2011 sales and earnings forecast for the second time in two months. First Solar said it now expects net sales of $2.8 billion to $2.9 billion in 2011, down from its October forecast of $3 billion to $3.3 billion.
Investing Insights: SmartMoney’s Top 10 Stocks for 2012.
Shares of Charles Schwab Corp. (NYSE:SCHW) are down more than 5%, despite the company reporting client daily trades are up 5% from last year. However, client daily trades are down 15% from October. E*Trade (NASDAQ:ETFC) is also trading lower after saying its average trading volume in November dropped 11% from last year.
Broadcom Corp. (NASDAQ:BRCM) is surging almost 7% after giving a more upbeat picture for the fourth quarter. The company also expects that overhead costs, which include research and development expenses, will decline by $5 million from the third quarter, compared with the earlier expectation that they would be unchanged.
Shares of Avon Products Inc. (NYSE:AVP) jumped 10% on Wednesday morning. The company announced it will be replacing Andrea Jung as CEO.
Don’t Miss: Is Competition Weighing on Best Buy?