What’s Moving These Shares As Dow Climbs 175 Points on April 20th?
The Dow Jones (NYSE:DIA) is higher at 12,443, the S&P 500(NYSE:SPY) is increasing to 1329 and theNasdaq (NASDAQ:QQQ) is slightly higher at 2,798 on the 76th trading day of 2011, and here is a group of stocks making moves on our radar and the reasons why:
- Polaris Industries, Inc. (NYSE:PII): Polaris reported W1 earnings of $1.34 per share vs expectations of 70 cents. Revenue climbed 49% to $537 million. About the company: Polaris Industries, Inc. designs, engineers, and manufactures snowmobiles, all terrain vehicles, motorcycles, and personal watercraft. The Company markets its products, together with related replacement parts, garments, and accessories through dealers and distributors located in the United States, Canada, and Europe.
- Doral Financial Corp. (NYSE:DRL): Doral’s stock is up almost 35% to $1.38 as it reported a profit in the first quarter. About the company: Doral Financial Corp. is a diversified financial holding company with mortgage banking operations in Puerto Rico. The Company owns Doral Bank P.R., a commercial bank in Puerto Rico and Doral Bank – FSB, a thrift in New York. In Puerto Rico, it is also involved in the insurance and broker dealer business through its subsidiaries Doral Insurance and Doral Securities.
- DPL, Inc. (NYSE:DPL): Shares of DPL have increased significantly in today’s trading after announcing that it has agreed to be acquired by AES Corporation(NYSE:AES) for $30 per share. Shares are presently trading at $30.03, and have a 52-week range of $23.73 to $30.04. Law firms have already announced their intention to investigate this acquisition, partially on the question of whether DPL, Inc. negotiated a sufficient premium for its acquisition by AES. DPL Inc. is a holding company whose principal subsidiary is The Dayton Power and Light Company. Dayton Power & Light sells electricity to residential, commercial, and government customers in west central Ohio.
- VMWare, Inc. (NYSE:VMW): Shares of this company are up more than 10% today on news that the company reported earnings of 48 cents a share in the first quarter, easily beating consensus estimates of $0.42 per share. Revenue increased 33% to $843 million, beating the estimate of $814 million. Other cloud computing stocks such as Juniper Networks (NYSE:JNPR), Salesforce.com (NYSE:CRM), F5 Networks (NASDAQ:FFIV), and Aruba Networks (NASDAQ:ARUN) are also trading higher. VMWare, Inc. provides virtualization solutions from the desktop to the data center. The Company’s solution products address a range of IT problems, which includes cost and operational inefficiencies, business continuity software lifecycle management and desktop management.
- Wells Fargo & Company (NYSE:WFC): Despite reporting earning of $0.67 per share, which was a penny above estimates, the shares are trading down about 5% today on unusually high volume. Revenue dropped 5% to $20 billion below estimates of $21 billion.Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. The Company operates through physical stores, the Internet and other distribution channels across North America and elsewhere internationally.
- International Business Machines Corp. (NYSE:IBM): This stock is trading flat today. Analysts have revised their price targets for the stock: Goldman Sachs(NYSE:GS) raised its price target to $160 from $155, Citigroup (NYSE:C) raised its price target to $190 from $175, and JP Morgan (NYSE:JPM) raised its price target to $176 from $166. About the company: International Business Machines Corporation provides computer solutions through the use of advanced information technology. The Company’s solutions include technologies, systems, products, services, software, and financing. IBM offers its products through its global sales and distribution organization, as well as through a variety of third party distributors and resellers.
- Yahoo! Inc. (NASDAQ:YHOO): Piper Jaffray (NYSE:PJC) raised its price target on the shares from $20 to $22 after the company reported its earnings. About the company: Yahoo! Inc. is a global Internet media company that offers an online guide to Web navigation, aggregated information content, communication services, and commerce. The Company’s site includes a hierarchical,, subject-based directory of Web sites, which enables users to locate and access information and services through hypertext links included in the directory.
- United Technologies Corporation (NYSE:UTX): Zacks Investment Research raised their price target on the stock to $88, and Oppenheimer & Co (NYSE:OPY) analysts have raised their price target to $94 from $83. The company reported earnings per share of $1.13, beating the consensus estimate of $1.07 by $0.06. Revenue was up 10.8% quarter-over-quarter, and analysts forecast that the company will earn $1.36 per share next year. United Technologies Corporation provides technology products and support services to customers in the aerospace and building industries worldwide. The Company’s products include aircraft engines, elevators and escalators, heating and air conditioning equipment, helicopters, aerospace systems, fuel cell systems, and fire and safety equipment.
- Intel Corporation (NASDAQ:INTC): Intel traded higher after it reported better-than-expected earnings. About the company: Intel Corporation designs, manufactures, and sells computer components and related products. The Company’s major products include micrprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.
- Blackboard Inc. (NASDAQ:BBBB): Bank of America Merrill Lynch (NYSE:BAC) downgraded its rating on this stock from “buy” to “underperform.” They have a $48 price target on the stock. Blackboard Inc. provides electronic learning Internet infrastructure software. The Company’s product line is bundled in two suites, the Blackboard Academic Suite and the Blackboard Commerce Suite. The company licenses these products on a renewable basis. Blackboard, Inc. serves in US and international postsecondary education market and the US elementary and secondary market.