Which Stocks are Hot on Wall Street January 21st?

With the Dow Jones (NYSE:DIA) S&P 500 (NYSE:SPY) and Nasdaq (NASDAQ:QQQQ) slightly lower across the board, here is a group of stocks making major moves on our radar and the reasons why:

Warner Music Group (NYSE:WMG): Shares of the music company are up over 25% today on news the company hired Goldman Sachs (NYSE:GS) to help with a merger or acquisition. Hasn’t this company been for sale in perpetuity? Why are they paying Goldman-level fees to talk to the same 5 companies who would even care to buy them in the first place. Now you know why shares trade around $5.

General Electric Company (NYSE:GE): GE is having a blow out day. First President Obama tapped CEO Jeff Immelt to be an economic advisor to the White House. Then, GE beat earnings and announced GE Capital is finally getting its shit together. Shares are up over 7%. Glad we bought a bunch under $10!

The Pep Boys – Manny, Moe & Jack (NYSE:PBY): Yep. When you make people enough money you can name your company something stupid like Larry, Moe, and Curly. The automotive parts company has hired Bank of America (NYSE:BAC) to explore a sale of the company. The news helped push shares up 15% and past previous 52-week highs.

Schlumberger Limited (NYSE:SLB): The world’s largest oilfield services company is cooling off today after worries over valuation hit the news feeds. The company announced awesome earnings and a solid outlook, but shares had already run up 60% in the previous 5 months. This one should be added to your “buy on the dips” watchlist.

Check Out: Get Your 2011 Market Outlook – by Chicago Mercantile Exchange commentator Jordan Roy-Byrne, CMT >>

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