Focus Media and 2 Stocks Boosting the Nasdaq
The Nasdaq (NASDAQ:QQQ) is up today by 0.16% and stands at 2,527. Here are tech stocks booming higher.
Brocade Communications Systems, Inc. (NASDAQ:BRCD): Brocade is up 6% after beating FQ4 estimates. It is guiding for FQ1 revenue of $530M-$550M and EPS of $0.12-$0.14, compared with a consensus of $535.3M and $0.11. Brocade rose 10% Q/Q, which was better than expected even though its storage switch revenue fell 4% Y/Y, partly due to competition from CSCO’s FCoE switches. Brocade also saw 14% Q/Q growth in Ethernet switch sales. BRCD shares recently traded at $5.05, up $0.57, or 12.72%. Its market capitalization is $2.48 billion. They have traded in a 52-week range of $3.18 to $7.30. Volume today was 25,985,465 shares versus a 3-month average volume of 9,357,590 shares. The company’s trailing P/E is 31.56, while trailing earnings are $0.16 per share.
Investing Insights: 3 Biotech Stocks Exploding Higher on the S&P 500.
Focus Media Holding Ltd. (NASDAQ:FMCN): Focus Media has responded to Muddy Waters’ bearish report (.pdf), which accuses the company of multiple types of fraud, by strongly denying each allegation. Time will only tell whether Focus Media will brush off Muddy Waters’ attack as was the case with Spreadtrum (NASDAQ:SPRD), or validate it like Sino-Forest. For the moment, shares are up 14.5% premarket, rebounding a bit from yesterday’s crash. FMCN shares recently traded at $16.65, up $1.22, or 7.91%. Its market capitalization is $2.26 billion. They have traded in a 52-week range of $8.79 to $37.58. Volume today was 25,415,158 shares versus a 3-month average volume of 4,639,190 shares. The company’s trailing P/E is 10.63, while trailing earnings are $1.57 per share.
JA Solar Holdings Co., Ltd. (NASDAQ:JASO): Solar shares are up on Suntech Power (NYSE:STP) and LDK (NYSE:LDK) earnings. JASO shares recently traded at $1.55, up $0.03, or 1.97%. They have traded in a 52-week range of $1.40 to $8.57. Volume today was 4,249,106 shares versus a 3-month average volume of 5,169,660 shares. The company’s trailing P/E is 1.08, while trailing earnings are $1.43 per share.