Why These 7 Stocks are Trending Right Now
Amidst a slower-than-usual trading session, here is a group of stocks that are trending on our radar and the reasons why:
1) The AllState Corporation (NYSE:ALL): The company is suing Bank of American (NYSE:BAC) stating its Countrywide subsidiary sold Allstate more than $700 million in mortgage backed securities that Countrywide knew were probably going to default.
2) Pfizer Inc. (NYSE:PFE): The drug maker’s veterinary unit will acquire Synbiotics Corp., a developer of veterinary diagnostics products, as it looks to tap into a growing segment of the animal-health industry. The deal will provide Synbiotics common shareholders with $0.306 per share in cash.
3) General Electric (NYSE:GE): For the 2nd straight year, corporate bond sales globally exceeded $3 trillion as the top company was General Electric leading the offerings.
4) Intel Corporation (NASDAQ:INTC): The tech giant launched their 310 Series of solid-state drives. Company executives said the 310 SSDs will improve overall system speed by about 60%.
5) Ford Motor Company (NYSE:F): According to Bloomberg, along with 510 other companies combined, Ford sold $287 billion of debt in the U.S., crushing the previous record of $162.7 billion in 2009.
6) Cisco Systems, Inc (NASDAQ:CSCO): The stock finished 2009 at $23.94 and has been one of the worst performers of the Dow Jones in 2010 trading at $20.24 today. Cisco is showing up on lots of ‘Drag of the Dow’ lists for 2010 stock performances.
7) Gold (NYSE:GLD): GLD closed 2009 at $107.31 and is currently trading at $137.14, or a rise of 27.7%. Gold has outperformed the Dow Jones and the S&P 500 in 2010 and media attention is giving it the recap attention it deserves. See why Chicago Mercantile Exchange (NASDAQ:CME) analyst Jordan Roy-Byrne, CMT kept people ahead of the herd 2010 and with more disposable income for the holidays in 2010>>