With the Dow Jones (NYSE:DIA) breaking 12,200, the S&P 500 (NYSE:SPY) at 1,320 and the Nasdaq (NASDAQ:QQQQ) higher at 2,788 on the 26th trading day of 2011, here is a group of stocks making moves on our radar and the reasons why:
1) Avon Products (NYSE:AVP): Avon manufactures and direct sells beauty and related products. Shares are down over 5% to $27.84 per share today after the company reported a profit of $229.5 million, or $.53 cents a share, down from $269.4 million, or $.62 cents a share, in the year-ago period. Revenues rose just 1% to $3.14 billion from $3.1 billion. The quarterly report was not enough to please investors.
2) Sara Lee (NYSE:SLE): Sara Lee manufactures and markets brand-name products for consumers throughout the world. Shares are up 2.19% to $17.29 per share today after the company issued results that fell to $.24 cents per share from $.27 cents, affected by higher commodity costs. Analysts expected earnings of $.25 cents per share. Revenue was nearly flat at $2.35 billion, and fell short of Wall Street’s forecast of $2.9 billion. Investors are cheering shares higher.
3) Broadridge Financial Solutions (NYSE:BR): Broadridge provides technology-based outsourcing solutions to the financial services industry. Shares are down over 7% to $21.45 per share after the company cut its 2011 earnings outlook to a range of $1.30-$1.40 a share from $1.55-$1.65 a share. Investors and traders are fleeing these shares for better opportunities today.
4) Coventry Health (NYSE:CVH): Coventry is a managed health care company operating health plans and insurance companies under a variety of names. Shares are down over 5% to $29.55 per share today after a disappointing report. CVH reported net income of $150.3 million, or $1.01 per share, in the three months that ended Dec. 31, up from $109.1 million, or $.74 cents per share, a year ago. Revenue fell 12% to $3.03 billion from $3.43 billion a year ago. If revenues are declining, investors err to the side of caution as they are today.
5) Conexant Systems (NASDAQ:CNXT): Conexant provides semiconductor products for communications electronics. Shares are up almost 17% to $2.46 per share today after receiving a competitive bid for their company. With more fluid and liquid M&A markets, shares continue to rise on investor optimism and future potential.
6) Kindred Healthcare (NYSE:KND): Kindred is a national healthcare services company operating hospitals, nursing centers, institutional pharmacies and a contract rehabilitation services business. The company has agreed to buy rival RehabCare Group (NYSE:RHB) for about $900 million in a deal that expands Kindred’s rehabilitation service business and its offerings for recovering patients. Shares of KND are up 19.51% to $23.28 per share today.
7) MGM Resorts (NYSE:MGM): MGM operates gaming, hospitality and entertainment resorts. Shares are up 4.89% to $15.67 per share today after Bank of America (NYSE:BAC) updated the stock seeing further potential ahead for the hotel and gaming group.
8) McDonald’s Corp (NYSE:MCD): McDonald’s operates and franchises fast-food restaurants worldwide. Shares are up 2.95% to $75.63 per share today. MCD reported January sales that were higher than analysts expected. It was the best performing company among the 30 stocks that make up the Dow Jones industrial average (NYSE:DIA) today.
9) Exide Technologies (NASDAQ:XIDE): Exide produces and recycles lead-acid batteries. Shares are up 14% to $12 per share today after the company exceeded earnings estimates in its latest report. Revenues rose 5% in its most recent quarter and stands to benefit from a supply deal from Chrysler.
10) Walt Disney (NYSE:DIS): Disney is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and Internet and direct marketing. The stock hit a 52-week high of $41.23 per share today. The company is slated to released earnings after the bell today. Analysts expect $.56 per share.
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