Closing Bell Trading Targets: First Solar, LinkedIn, and More
LinkedIn (NYSE:LNKD) is today’s Wall Street darling. The social media company continued to deliver exciting numbers during earnings.
The stock was not able to take out its 52-week high of $122.70. Keep your eye on whether traders push through the rough intra-day high of $120 or low of $116 in the final 30 minutes.
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NorthStar Realty Finance Corp. (NYSE:NRF) is in the crapper after announcing it has priced an underwritten public offering of 20,000,000 shares of common stock at a public offering price of $5.70 per share. The company is borrowing money to pay debts. This doesn’t reflect well on the strength of cash flow. Moreover, the offering dilutes current shareholders.
The morning saw a dead cat bounce, then a downtrend all day. The final 30 minutes will be interesting. Traders will likely start covering shorts or dump into the bell.
First Solar (NASDAQ:FSLR) earnings continue to go up in flames. The stock built an intraday bottom, but lunchtime attempts to rally both failed. If the stock takes out intraday lows, don’t get burned.
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