Electronic Arts Pops on Surprise Q2 Results and 2 More Heavily Traded Stocks to Follow
Electronic Arts Inc. (NASDAQ:EA): Current price $25.41
EA Shares are up more than 8 percent in the late afternoon on Wednesday, touching the highest level since October 2008. Late on Tuesday, the company posted better-than-anticipated results for its first fiscal quarter, thanks primarily to gains from mobile and other digital channels. A number of analysts elevated their price targets on the shares, which are up over 80 percent since the first day of 2013. Analyst Drew Crum at Stifel Nicolaus hiked his target from $27 to $30, pronouncing the results “a good start” to the fiscal year, prior to the debut of the Xbox One and PlayStation 4 game consoles.
General Electric Co. (NYSE:GE): Current price $24.62
General Electric Co., Comexhidro Viento, Next Energy de México, and Conduit Capital announced the launch of Santa Catarina, the first operational wind farm in Mexico powered by GE wind turbines. So far, eight GE 2.75-103 turbines are online, and it is expected that they will generate 45 gigawatts of power per year. Additionally, GE won a five-year arrangement to operate and maintain the Santa Catarina wind farm. Energy produced by the eight-turbine wind farm would meet the required energy needs of about 9,000 homes in the Monterrey region.
Barrick Gold Corp. (NYSE:ABX): Current price $17.17
The Canadian gold miner intends to divest an oil and gas division, Barrick Energy, at a price of $440 million to the oil and gas producer Canadian Natural Resources and two other buyers. Barrick Gold said that it has been searching out methods to sell assets it doesn’t deem essential to its business, in hopes of improving its balance sheet. Also, the firm has announced job reductions, in response to slumping gold prices, increasing costs, and stalled construction at Barrick’s $8.5-billion Pascua-Lama mine in Chile. Barrick anticipates a loss of $500 million in the second quarter related to the transaction, which should close on July 31.NASDAQ:CMCSA, NYSE:AOL, NASDAQ:DISH