Viacom and 2 Stocks Leading the S&P 500 Higher

The S&P 500 (NYSEARCA:SPY) is up today by 1.09% and stands at 1242.52. Here are three notable and stocks that are experiencing large improvements today.

Viacom, Inc. (NYSE:VIA.B) Viacom sales at Paramount gained 46% to $1.79B, boosted by the latest “Transformers” film. Viacom raised stock buyback by $6B to $10B and declared a dividend of $0.25/share. Net income has tripled to $576M. Revenue beat Y/Y by $300M at a gain of 21.7% to $4.05B. The shares recently traded at $43.35, up $3.03, or 7.52%. They have traded in a 52-week range of $35.12 to $52.67. Volume today was 8,120,000 shares versus a 3-month average volume of 4,310,000 shares. The company’s trailing P/E is 12.72, while trailing earnings are $3.41 per share.

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Cabot Oil and Gas Exploration (NYSE:COG) Based partly on the company’s lower projected well costs in 2012, Cabot appears to be conservative according to a note to clients from analysts at Brean Murray Carret & Co. Their price target is $98 a share. The shares recently traded at $86.56, up $6.22, or 7.74%. They have traded in a 52-week range of $33.13 to $87.40. Volume today was 2,002,758 shares versus a 3-month average volume of 2,365,610 shares. The company’s trailing P/E is 63.18, while trailing earnings are $1.37 per share.

Advanced Micro Devices (NYSE:AMD) is catching a bid as semiconductor stocks are having a strong morning. Shares are up 5.76%. The shares recently traded at $5.70, up $0.32, or 5.95%. They have traded in a 52-week range of $4.31 to $9.58. Volume today was 13,790,094 shares versus a 3-month average volume of 23,834,200 shares. The company’s trailing P/E is 4.05, while trailing earnings are $1.41 per share.

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