What’s Moving These Shares the First Day of February
With the Dow Jones (NYSE:DIA) trades above 12,000 with conviction today, the S&P 500 (NYSE:SPY) shoots above 1300 and the Nasdaq (NASDAQ:QQQQ) is higher on the 21st trading day of 2011, here is a group of stocks making moves on our radar and the reasons why:
1) Pfizer Inc (NYSE:PFE): Shares are up over 5.63% to $19.25 per share today after the company announced it would cut R&D costs and buy back $5 billion in PFE stock. Following a strong quarterly earnings report, Pfizer impressed analysts with a 2011 revenue forecast that exceeded expectations.
2) United Parcel Service (NYSE:UPS): The stock is up almost 4% to $74.36 per share after the package delivery company issued an earnings report that beat the street’s views. UPS is forecasting record-high profits for 2011. The stock hit a 52-week high today of $74.97 per share.
3) Electronic Arts (NASDAQ:ERTS): Share volume is spiking higher than usual for ERTS ahead of this evening’s earnings release. The stock is trading flat on the day at $15.58 per share. Analysts will be watching the success of flagship video games like Madden Football and Tiger Woods golf this afternoon.
4) Orexigen Therapeutics (NASDAQ:OREX): Over 125 million shares have traded today in what has become a 72% plunge to $2.52 per share. The FDA denied approval of the company’s diet drug as not enough data was evident to sway the panel otherwise.
5) Lexmark (NYSE:LXK): Shares are up over 10% to $38.57 per share today after the company issued a quarterly earnings report that beat Wall Street analyst estimates. Profits rose 46%, while revenues increased to $1.1 billion from $1.07 billion for the quarter.
6) Archer Daniels Midland Company (NYSE:ADM): The stock is trading up 6% to $34.67 per share today after ADM surprised the street with a strong quarter and issued a rise in net income of 29%. The company’s revenue was 31.6% higher year-over-year. Investors are confidently buying shares after a great report.
7) Aflac Inc (NYSE:AFL): Shares are up 2.36% to $58.96 per share ahead of this evening’s earnings release. Analysts are expecting $1.35 per share earnings on 5.59 billion in revenue. Will the Aflac ducks quack cheers or boos tomorrow?
8) Manitowoc Company (NYSE:MTW): Shares are up over 20% to $16.22 per share today following a solid earnings report. The company said it has managed to pay down $1 billion in debt. Also, executives expect crane growth to rise in the low double-digits in 2011. Cranes are a sign of a turnaround for the building sector. Caterpillar, Terex and Deere are all seeing a lift in shares on the solid Manitowoc report today.
9) Biogen Idec (NASDAQ:BIIB): This global biotech company was up higher this morning, until settling at $65.72 per share, or almost flat on the day. Biogen exceeded estimates in its quarterly release this morning. Revenues were higher 8% year-over-year, but net income fell 21%. The reason for the price fade could be the profit decline. The company guided their outlook higher.
10) PACCAR Inc (NASDAQ:PCAR): Over 5.7 million shares have traded hands today, compared to the average of 2 million shares. The stock is trading down over 5% to $53.15 per share on the heels of its 4th quarter earnings release earlier today. Even though the company tripled its profits on the quarter, it guided caution for higher expenses in 2011. Meanwhile, revenue climbed 41%.