As Dow Hits New High, What’s Moving These Shares on April Fool’s Day?
The Dow Jones (NYSE:DIA) is above 12,400 setting a new high for the year, the S&P 500 (NYSE:SPY) is increasing to 1335 and the Nasdaq (NASDAQ:QQQ) is up at 2,797 on the 63rd trading day of 2011, and here is a group of stocks making moves on our radar and the reasons why:
1) NYSE Euronext (NYX): Shares are up over 11% to to $39.21 per share. Over 30 million shares have traded hands. Nasdaq OMX (NASDAQ:NDAQ) and IntercontinentalExchange (NYSE:ICE) announced a joint $11.3 billion bid to buy the parent company of the New York Stock Exchange (NYSE:NYX). NYSE Euronext operates an international stock exchange. The Company operates a marketplace for equities and derivatives in Belgium, France, the Netherlands and Portugal, derivatives in the United Kingdom, and equities and other securities in the United States.
2) Ford Motor Company (NYSE:F): Shares are up over 2% to $15.26 per share today. Over 61 million shares have traded hands. March U.S. light vehicle sales rose 16%, beating analysts 13% measure. Ford (NYSE:F) outsold General Motors (NYSE:GM) in March. Ford Motor Company designs, manufactures, and services cars and trucks. The Company also provides vehicle-related financing, leasing, and insurance through its subsidiary.
3) JDS Uniphase Corporation (NASDAQ:JDSU): Shares are down over 7% to $19.18 per share. Over 22 million shares have traded hands. The company’s stock brokedown below the 50-day moving average resistance line. JDS Uniphase Corporation provides communications test & measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers. The Company also provides optical solutions for medical/environmental instrumentation, semiconductor processing, display, brand authentication, aerospace and defense, and decorative applications.
4) Logitech International SA (NASDAQ:LOGI): Shares are down 17.50% to $14.95 per share. Over 13 million shares have traded hands. The company forecasted sales from $2.35 billion to $2.37 billion, down from its prior estimate of $2.4 billion to $2.42 billion. Mark your calendar for April 27th. Logitech International S.A. manufactures personal computer input devices. The Company produces computer mice which help the user move the cursor around the computer screen quickly, trackballs, game controllers, keyboards, PC video cameras, and multimedia speakers. The Company sells its products worldwide.
5) Bank of Ireland (NYSE:IRE): Shares are up over 21% to to $2.14 per share. Over 12.75 million shares have traded hands. Ireland’s new government stated will refinance the banking system with an additional 24 billion euros. The Governor and Company of the Bank of Ireland provides a range of banking, life insurance and other financial services to customers in Ireland and United Kingdom. Services include branch banking, personal and business loans, loan insurance, mortgages, foreign exchange, correspondent banking, credit cards and stockbroking.
6) F5 Networks, Inc. (NASDAQ:FFIV): Shares are down over 7% to $95.07 per share. Over 7.9 million shares have traded hands. A William Blair analyst shocked investors with a very weak outlook for FFIV’s earnings report. The bar has now been lowered, but will FFIV comeback with a surprise? F5 Networks, Inc. provides integrated Internet traffic management solutions designed to improve the availability and performance of mission-critical Internet-based servers and applications. The Company’s software-based solutions manage, control and optimize Internet traffic and content. F5’s solutions automatically deliver Internet content for service providers and e-businesses.
7) Office Depot, Inc. (NYSE:ODP): Shares are down 10.8% to $4.12 per share. Over 20 million share have traded hands. The company needs to restate its 2010 earnings due to the IRS unexpectedly rejecting its claim for an $80 million benefit related to taxes. Office Depot, Inc. operates a chain of office product warehouse stores in North America, Europe, Asia and Central America. The Company sells branded merchandise and provides business services primarily to small and medium-sized businesses and the home office market.
8) FMC Technologies, Inc. (NYSE:FTI): Shares are up over 1.8% to $48.11 per share. Over 1.6 million share have traded hands. On a technical basis, the stock is breaking out to the upside. FMC Technologies, Inc. designs, manufactures, and services systems and products used in offshore, particularly deepwater, exploration and production of crude oil and natural gas. The Company also provides advanced handling and processing systems to industrial customers. FMC Technologies’ subsea products include drilling and production systems, subsea tree systems, and fluid control systems.
9) Alexander & Baldwin, Inc. (NYSE:ALEX): Shares are up over 17% to $53.60 per share. Over 1.8 million shares have traded hands. The big news today from the hedge fund world comes from Bill Ackman’s hedge fund firm Pershing Square initiating a new activist position in the company. Alexander & Baldwin, Inc., through its subsidiaries, is involved in ocean transportation, property development and management, and food products businesses. The Company carries freight, primarily between various United States Pacific Coast ports, Hawaii ports, and Guam. Alexander also develops real property in Hawaii and on the mainland, as well as grows sugar cane and coffee.
10) Riverbed Technology, Inc. (NASDAQ:RVBD): Shares are up over 6.7% to $35.12 per share today. Over 5.3 million shares have traded hands. Oppenheimer reiterated a ‘market perform’ rating on the stock. Meanwhile, ThinkEquity cut its rating and price target on the stock to $48 per share. Riverbed Technology, Inc. manufactures and markets appliances used to connect computers in wide area networks. See Why This Technology Stock was Mistakenly Oversold>>
Bonus: Under Armour, Inc. (NYSE:UA): This stock is a Wall St. Cheat Sheet Premium Investment Newsletter selection. Shares are up over 7% to $73 per share. Over 1 million shares have traded hands today. The stock hit a 52-week high today as Major League Baseball continues opening week and the company leverages the Auburn NCAA Football Championship win. Under Armour, Inc. develops, markets, and distributes branded performance products for men, women, and youth. The Company designs and sells a broad offering of apparel and accessories made of synthetic microfibers.