What Moved These Shares March 28th?
The Dow Jones (NYSE:DIA) closed barely lower at 12,197, the S&P 500 (NYSE:SPY) closed at 1310 and the Nasdaq (NASDAQ:QQQ) closed at 2,730 on the 59th trading day of 2011, and here is a group of stocks that made major moves on our radar and the reasons why:
1) GSI Commerce, Inc. (NASDAQ:GSIC): Shares of GSI Commerce closed higher over 50% today to $29.20 per share. Over 42 million shares traded hands. The stock was given a major lift on the announcement that eBay (NASDAQ:EBAY) will buy the company for $2.4 billion. GSI Commerce, Inc. develops and operates electronic commerce businesses. The Company’s customers include retailers, branded manufacturers, media companies, television networks, and professional sports organizations. GSI provides Web site design and development, electronic commerce technology, customer service, fulfillment, merchandising, content development, and online marketing.
2) Apple, Inc. (NASDAQ:AAPL): Shares of Apple closed lower .3% today at $350.44 per share. Shares were higher earlier in the day on news that Morgan Stanley (NYSE:MS) increased its price target for the shares to $410.00. Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.
3) Marriott International (NYSE:MAR): Shares of Marriott closed lower 6.27% to $35.30 per share today. Over 17 million shares traded hands. The company lowered its outlook and disappointed investors. Slower demand in North America seems to be the problem for now. Marriott International Inc. is a worldwide operator and franchisor of hotels. The Company franchises lodging facilities and vacation timesharing resorts under various brand names. Marriott also provides services to home and condominium owner associations for projects associated with several of its brands.
4) eBay Inc (NASDAQ:EBAY): Shares of eBay closed lower 4.29% to $30.34 per share. 29.93 million shares traded hands today. eBay Inc. operates an online trading community. eBay announced an acquisition for GSI Commerce today. In general the acquirer sees a short-term drop in their stock price. Overall, if the acquisition bodes well for eBay, then the hope is shares will rise over the long-term once again. The Company’s service is used by buyers and sellers for the exchange of products and services such as coins, collectibles, computers, memorabilia, stamps and toys, as well as concert and sporting tickets. eBay also offers, through a subsidiary, secure online payment services.
5) Cal-Maine Foods, Inc. (NASDAQ:CALM): Shares of Cal-Maine Foods closed higher over 7% today to $29.97 per share on news that its third-quarter earnings per share exceeded analysts’ estimates by 24%. Cal-Maine Foods, Inc. produces, cleans, grades, packs, and sells fresh shell eggs. The Company markets its products in various states in the Southwestern, Southeastern, Midwestern, and Mid-Atlantic regions of the United States.
6) Crexus Investment Corp. (NYSE:CXS): Shares of CreXus Investment Corp closed higher 1.59% to $12.15 per share. Over 6,1 million shares traded hands. Starwood (NYSE:HOT) offered to buy CreXus at a 20% premium and CreXus rejected the offer. Consequently, the company announced a common stock offering of $11.50 per share after-the-bell. Expect shares to open lower tomorrow morning. CreXus Investment Corp. is a specialty finance company. The Company acquires, manages, and finances, directly or through our subsidiaries, commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, or CMBS, and other commercial real estate-related assets.
7) Rural/Metro Corporation (NASDAQ:RURL): Shares of Rural/Metro closed higher over 35% to $17.05 per share today after analysts at RBC Capital (NYSE:RY) raised their price target to $17 per share. Rural/Metro Corporation provides a variety of health and safety services. The Company’s services include emergency and non-emergency ambulance transportation, fire protection, and other safety-related services to municipal, residential, commercial, and industrial customers. Rural/Metro serves communities throughout the United States and Latin America.
8) Novogen Limited (NASDAQ:NVGN): Shares of Novogen Limited closed higher over 100% to $2.17 per share today today on unusually high volume. Novogen Limited is a medical services company which develops and markets pharmaceutical products in Australia. The Company conducts clinical trials on medications which promote the prevention and treatment of common cancers and the reversal of immune depression. The Company also develops dietary supplements, hormonal imbalance drugs, anti-inflammatory and cardiovascular drugs.
9) Spectrum Control, Inc. (NASDAQ:SPEC): Shares of Spectrum Control closed higher over 39% to $19.59 per share today on news that it will be acquired by API Technologies Corp. Spectrum Control, Inc. and its subsidiaries design, manufacture, and market a broad line of control products and systems designed to suppress or eliminate electromagnetic interference. The Company provides a complete line of capacitors, filters, filtered arrays, filtered connectors, power products, and microwave products, as well as electromagnetic compatibility testing services.
10) Eastman Kodak Company (NYSE:EK): Shares of Eastman Kodak Company closed higher 5.29% to $3.58 per share today. Call volume on options on the shares are running at 2.4 times the daily average. Eastman Kodak Company develops, manufactures, and markets imaging products. The company provides professional and consumer digital cameras, laser images for radiologists, and photographic films for professionals and amateurs. Kodak also provides digital services for cinematographers, document scanners, aerial images, digital printers for commercial customers, and flat panel displays.