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Volume Busters of the Day: SBUX, ANR, TRIP, PSEC

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Market is trading down on the last day of 3-day trading week. Main indices including Dow, S&P and NASDAQ are in the red region. While the job data is largely positive but it comes with some caveats and thus failed to cheer up the market. Companies are still busy announcing their quarterly results and the situation is overall mixed.

Starbucks gained big time after reporting positive results. The coffee company also raised its forecast and increased its dividend. Similarly, TripAdvisors is also doing well on the trading floors after reporting strong results. Another better than expected result was reported by Alpha Natural Resources and it followed the trend set by its peer companies such as Peabody Energy. So, let’s take a look at the most active stocks today:

Starbucks Corporation (NASDAQ:SBUX): The company stock is currently trading at $51.77, up 11.05 percent from its previous close of $46.62. The stock had opened at $50.48 and has traded in the range of $50.40 and $51.77 in the current trading session. Starbucks Corporation stock commands the Price Earnings ratio of 28.53. The company reported increase in its quarterly profits and announced its fourth quarter net income at $359 million, up from $358.5 million it had reported for the corresponding quarter of the last year. However, its profit per share fell by 1 cent to 46 cents per share, beating the consensus estimate of 45 cents per share in income. Starbucks Corporation also revised its forecast and expects to earn between $2.06 and $2.15 per share for the fiscal year 2013. Its earlier projection was in the range o f$2.04 and $2.14 per share. The company also reported 6 percent increase in its global same-store sales. The stock has traded 17.625 million shares so far, in contrast to its usual daily volume of 8.701 million shares.

Alpha Natural Resources Inc. (NYSE:ANR): The stock is currently trading at $9.36, up 5.64 percent from its previous close of $8.86. It has traded 19.006 million shares so far while its usual daily volume is 23.784 million shares. The stock is trading at the Beta of 2.35. It has traded in the range of $5.28 and $29.29 in the past 52 weeks. The company reported better than expected quarterly results. Its losses are smaller than anticipated. Alpha Natural Resources reported its net loss at $46 million. On per share basis, the net loss stood at 21 cents per share, lower than expected loss of 45 cents per share in loss. Its revenue stood at $1.63 billion, down 30 percent. It also fell below the consensus estimate of $1.68 billion in revenue.

TripAdvisor Inc. (NASDAQ:TRIP): The company reported strong quarterly results and its profit per share stood at 46 cents per share. The consensus estimate for the profit stood at 43 cents per share. The company also beat consensus estimates for revenue. Its quarterly revenue stood at $212.7 million, beating average forecast of $211.3 million. The stock has traded 7.055 million shares so far, exceeding its daily average volume of 2.689 million shares. TripAdvisor is currently trading at $35.43, up 20.47 percent from its previous close of $29.41. The stock is trading at the Price Earnings ratio of 27.47. It has traded in the range of $23.99 and $47.81 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $35.38 but below its 50 days moving average price of $35.50.

Prospect Capital Corporation (NASDAQ:PSEC): The company announced the pricing of its underwritten public offering. The company is offering 35 million shares and has granted the underwriters a 30 day option to purchase up to 5.25 million additional shares. The company has appointed UBS Investment Bank, Deutsche Bank Securities, Barclays and Citigroup as its joint book running managers.  Prospect Capital Corporation is also scheduled to report its fiscal first quarter earnings on November 8, 2012. The company stock has traded 20.90 million shares so far, in comparison to 2.192 million shares it trades on usual trading day. The company stock is currently trading at $10.93, down 8.35 percent from its previous close of $11.92. The stock had opened at $10.95 and has traded in the range of $10.90 and $11.00 in the current trading session. Prospect Capital stock commands the Price Earnings ratio of 6.54.

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