What’s Moving These Hot Stocks: Petroleo, Zynga, Morgan Stanley, Abercrombie & Fitch, Chico’s FAS

Petroleo Brasileiro (NYSE:PBR): According to a May 15 report by Ocean Rig UDW (ORIG), the Ocean Rig Corcovado finished the general testing of equipment as necessitated by Petroleo Braziliero S.A., and has begun revenue-generating drilling procedures in Brazil. PBR shares traded up 4.75% ($0.92) at $20.27.

Investing Insights: Why Is Chesapeake Borrowing More Money?

Zynga, Inc. (NASDAQ:ZNGA): At JPMorgan’s 40th Annual Global Technology, Media, & Telecom Conference, a comment was made. Zynga shares traded up $0.24 (2.8%) recently at $8.80.

Morgan Stanley (NYSE:MS) reduced its stake in Dutch telecom firm KPN to 4.93%, according to Reuters, which cited Dutch market regulator AFM. 4.8% of KPN is held by Carlos Slim’s America Movil (NYSE:AMX). Morgan Stanley shares traded at $14.23 lately, up $0.09 or 0.64%.

Abercrombie & Fitch Co. (NYSE:ANF)’s Board of Directors raised the existing share repurchase authorization by 10M shares, making the shares at hand for purchase under its publicly announced share repurchase authorization now 12.9M. ANF shares traded at $40.01 lately, down $5.39 (11.87%).

Chico’s FAS Inc. (NYSE:CHS): The women’s clothing retailer reports opening new stores in 2012 with smaller footprints and in smaller markets on its Q1 earnings conference call. Chico’s shares traded at $15.18 recently, up $0.52 or 3.55%.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

Don’t Miss: GM to Put Brakes on Facebook Advertising.