S&P 500 Weekly Recap: Western Digital Outlook, Morgan Stanley Spikes

The S&P 500 (NYSEARCA:SPY) was up a whopping 7.39% at 1,244. These stocks were some of the best and worst performers of the week.

Genworth Financial (NYSE:GNW): Citigroup upgraded Genworth in a recent report because Genworth’s attractive valuation more than offsets any concerns bout the stock. Citigroup went on to say that Genworth is not near bankruptcy risk. Genworth is now the hottest stock on the S&P 500 board.  GNW shares have traded in a 52-week range of $4.80 to $14.77. Volume today was 7,534,246 shares versus a 3-month average volume of 10,427,300 shares. The company’s trailing earnings are $-0.29 per share.

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Netflix (NASDAQ:NFLX):Whitney Tilson, the head of the hedge fund firm T2 Partners, believes that the time is ripe to buy Netflix. Tilson describes Netflix as “the BP of 2011″, and believes the stock has nowhere to go but up. Netflix is down 79% since July. NFLX shares have traded in a 52-week range of $62.90 to $304.79. Volume today was 5,473,646 shares versus a 3-month average volume of 9,722,940 shares. The company’s trailing P/E is 15.65, while trailing earnings are $4.40 per share.

U.S. Steel (NYSE:X): U.S. Steel is another company that is urging its shareholders to reject an offer from TRC Capital to buy 3 million shares of the stock. U.S. Steel was up big at the beginning of trading. X shares have traded in a 52-week range of $18.85 to $64.03. Volume today was 6,139,012 shares versus a 3-month average volume of 13,258,600 shares. The company’s trailing earnings are $-0.53 per share.

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Best Buy (NYSE:BBY): Best Buy’s Black Friday performance was admirable. Whether these results continue in the weeks to come is another question. BBY shares have traded in a 52-week range of $21.79 to $43.75. Volume today was 4,819,264 shares versus a 3-month average volume of 6,667,180 shares. The company’s trailing P/E is 9.24, while trailing earnings are $2.99 per share.

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Halliburton (NYSE:HAL): The company may face some additional fines as a result of last year’s Deepwater Horizon debacle, but the stock has recovered as Halliburton’s exposure to that incident has lessened. HAL shares have traded in a 52-week range of $27.21 to $57.77. Volume today was 8,885,053 shares versus a 3-month average volume of 18,924,000 shares. The company’s trailing P/E is 12.23, while trailing earnings are $2.76 per share.

Western Digital Corporation (NYSE:WDC): Western Digital is up in part because of Seagate’s optimistic prospects. It’s been a good week for the stock so far: WDC shares have traded in a 52-week range of $22.64 to $41.87. Volume today was 3,459,316 shares versus a 3-month average volume of 5,179,980 shares. The company’s trailing P/E is 8.49, while trailing earnings are $3.26 per share.

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Western Digital Corporation (NYSE:WDC): Western Digital improved its sales outlook for the FQ2 period. The impact of the Thai flooding continue to be cut down as well. So now Think Equity has increased the price target from $25 to $40. WDC shares have traded in a 52-week range of $23.06 to $41.87. Volume today was 9,881,798 shares versus a 3-month average volume of 4,843,000 shares. The company’s trailing P/E is 9.57, while trailing earnings are $3.26 per share.

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Morgan Stanley (NYSE:MS): The positive jobs report and Angela Merkel’s speech proclaiming a better ending for the Eurozone debt crisis are moving all financial stocks upward. Morgan Stanley is benefitting in particular, as few American financial companies have as much exposure to Europe as Morgan Stanley. MS shares have traded in a 52-week range of $11.58 to $31.04. Volume today was 40,682,839 shares versus a 3-month average volume of 35,374,700 shares. The company’s trailing P/E is 10.27, while trailing earnings are $1.53 per share.

JPMorgan Chase (NYSE:JPM): JP Morgan is getting a boost along with the rest of the financial sector because of the positive jobs report and improved prospects for Europe. However, JP Morgan’s stock has not done well in the past year. JPM shares have traded in a 52-week range of $27.85 to $48.36. Volume today was 72,330,026 shares versus a 3-month average volume of 46,505,700 shares. The company’s trailing P/E is 6.89, while trailing earnings are $4.69 per share.

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