Sears Holdings Rebounds Big as Treehouse Foods and Google Pullback in Trading Jan. 20th
The U.S. financial markets ended the third week of January on a high note. In Friday’s trading action, here was the most notable gainer and losers in terms of price percentage:
Big stock gainer of the day:
Sears Holdings Corporation (NASDAQ:SHLD): According to sources CIT (NYSE:CIT) demanded a letter of credit from Sears (NASDAQ:SHLD) following its disappointing holiday results, but CIT relented following talks Sears, despite the fact that it wasn’t granted a letter of credit, the New York Post reports. One source says Sears has been “aggressively reaching out to the trade, making the argument that they got lots of liquidity.” The shares closed at $49.00, up $5.65, or 13.03%. They have traded in a 52-week range of $28.89 to $94.79.
Big stock losers of the day:
TreeHouse Foods Inc. (NYSE:THS): The company’s preliminary total Q4 revenue grew 5% to approximately $535M vs. $510M in Q4 of 2010. The Q4 retail channel volumes decreased 4%, mainly due to an 8% decline in December volumes, well below historical levels. The company believes the volume decline was driven by three main factors: 1) Reduction in consumer food purchases, 2) Sales shift away from traditional grocery customers toward alternate channel retailers, 3) Negative effect of warm weather in the Midwest and Northeast on seasonal sales. The shares closed at $56.76, down $6.1, or 9.7%. They have traded in a 52-week range of $46.73 to $67.25.
Google Inc (NASDAQ:GOOG): Intel (NASDAQ:INTC) CEO Paul Otellini said last night that tablets running on Microsoft’s (NASDAQ:MSFT) Windows 8 operating system are “being queued up for production,” according to Cnet. Otellini added that tablets running on Google’s (NASDAQ:GOOG) Android operating system can’t compete with Apple’s (NASDAQ:AAPL) iPad right now. However, Android tablets will do better once they’re equipped with the latest version of Android, Ice Cream Sandwich, the CEO said, the publication added. The shares closed at $585.99, down $53.58, or 8.38%. They have traded in a 52-week range of $473.02 to $670.25.
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