Goldman Sachs Earnings Beat and These 2 Stocks Propel the S&P 500 Over 1300
The S&P 500 (NYSEARCA:SPY) is up today 0.83% to 1,304. Here are three of the top performing stocks on the index.
Goldman Sachs Group Inc. (NYSE:GS): tight expense and cost controls — meaning, less compensation — allowed Goldman Sachs to deliver a Q4 beat. However, the results represent another nail in the coffin for the notion that GS is above reproach. GS shares recently traded at $105.57, up $7.89, or 8.08%. They have traded in a 52-week range of $84.27 to $171.49. Volume today was 13,379,175 shares versus a 3-month average volume of 7,687,620 shares. The company’s trailing P/E is 16.06, while trailing earnings are $6.57 per share.
Shares of First Solar, Inc. (NASDAQ:FSLR) jumped today as Greenlight has covered its shorts. Bank of America says alternative energy shares are going to have “more pain before the gain” this year and “sustained outperformance” won’t come until at least 2013. FSLR shares recently traded at $43.40, up $3.4, or 8.5%. They have traded in a 52-week range of $29.87 to $175.45. Volume today was 2,979,547 shares versus a 3-month average volume of 4,477,680 shares. The company’s trailing P/E is 7.13, while trailing earnings are $6.09 per share.
Advanced Micro Devices, Inc. (NYSE:AMD) will reportedly respond to Intel’s (NASDAQ:INTC) much-hyped ultra book initiative by rolling out its own ultra book-type platform, called Ultrathin, in May. AMD claims Ultrathin systems, which will be based on its upcoming Trinity processors, will cost $100-$200 less than ultra books. In addition to the company specific news, the entire chip sector is up on positive news from Linear Tech (NASDAQ:LLTC). AMD shares recently traded at $5.90, up $0.17, or 2.97%. They have traded in a 52-week range of $4.31 to $9.58. Volume today was 13,416,522 shares versus a 3-month average volume of 15,725,000 shares. The company’s trailing P/E is 4.19, while trailing earnings are $1.41 per share.
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