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Markets are looking shaky on the last of the trading week, which looks like an expected end to a tumultuous period. Earnings season is upon us and things do not seem to be particularly bright. Several companies have issued warnings about their earnings.
So, while the markets are undecided about the today’s course of actions, there are various companies which are determined to make significant price movements. Let’s take a look at the major mover and shakers of the day:
STMicroelectronics NV (NYSE:STM): The company stock gained momentum on the rumors of an impending break-up plan. Under this plan, the company may decide to sell its mobile phone chip business. STMicroelectronics divides its business into two main categories viz. digital group and analog group. The company is currently trading at $6.04, up 7.09 percent from its previous close of $5.64. The stock is trading at the Price Earnings ratio of 41.22. It has traded in the range of $4.51 and $8.60 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $6.06 and 50 days moving average price of $6.11. STMicroelectronics has denied any such rumors related to the breaking up of business. The stock has oscillated in the range of $6.01 and $6.31 during the current trading session. STMicroelectronics stock has beta of 1.80.
Advanced Micro Devices Inc. (NYSE:AMD): The stock is going in totally opposite direction to STM stock. Advanced Micro Devices stock tumbled to $2.86 in the early trading and since then has climbed back to $2.91, still 9.14 percent down from its previous close of $3.20. The stock became a victim of revenue warning given by the company. Advanced Micro Devices announced that it expects its revenue to suffer due to the weakness in PC market. The company said that it faces “weaker than expected demand across all product lines caused by the challenging macroeconomic environment.” The company had issued the similar warning earlier in July. However, the projection has further deteriorated now. The stock had opened at $2.86 and touched its highest price point of $2.99 in the current trading session. Advanced Micro Devices stock commands the beta of 2.21. Advanced Micro Devices is trading slightly above its 20 days moving average price and its 50 days moving average price of $2.9. Due to the revenue warning, the stock also lost favor with analysts. BMO Capital Markets cut its estimates for the company and its stock is now rated Market Perform with the price target of $3.
J.B. Hunt Transport Services Inc. (NASDAQ:JBHT): The stock is currently trading at $58.92, up 7.53 percent from its previous close of $54.79. The stock is trading at the Price Earnings ratio of 24.41. It has traded in the range of $40.03 and $61.18 in the past 52 weeks. However, the stock is trading above its 20 days moving average price and its 50 days moving average price of $58.89. The transportation company provided stellar results for its third quarter. The company reported its earnings per share for the quarter at 65 cents while its revenue grew 11 percent to $1.3 billion. The company had earned $1.17 billion in revenue during the third quarter of the last year. However, it reported 8 percent decline in its revenue from the trucking unit. The stock has traded in the range of $57.52 and $59.47 in the current trading session. The company has market capitalization of $6.93 billion. UBS has raised its target for the company to $65.
Coca Cola Hellenic Bottling Company SA (NYSE:CCH): The stock has received trading upgrade from JPMorgan Chase. The stock is now rated Overweight, up from neutral. Coca Cola stock is currently trading at $21.76, up 6.41 percent from its previous close. The stock has traded in the range of $21.51 and $21.92 in the current trading session and it is trading below the 20 days moving average price of $21.78 while it is above its long term 50 days moving average price of $21.43. Coca Cola touched its 52 weeks high price of $21.92 in today’s trading session. Its lowest price point in the past 52 weeks has been at $14.30. Coca Cola has market capitalization of $7.90 billion and its stock has Price Earnings ratio of 26.86. The stock has beta of 1.50.
