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With all the major indices firmly in green territory, markets are looking to recoup the losses sustained in the previous week. Among the news rocking the business world is privately held Hostess Group, which has threatened to liquidate itself on account of an ongoing strike. On the other hand homes sales report is out and the figures are 2 percent up for the month of October. While earnings season is now at its tail end, the companies reported fairly strong results, adding some spark to the market. So, here is my list of top stocks in the market today:
Grupo Casa Saba de CV (NYSE:SAB): The company announced that it would be delisted from the New York Stock Exchange and the news sent stock soaring to $5.95. It is currently trading at $5.53, up 64.96 percent from its previous close of $5.53. After delisting, the company will carry out the trading in its shares on the Bolsa Mexicana de Valores or BMV in Mexico. Grupo Casa Saba will also discontinue its ADS program. The company is expected to file its papers with regard to delisting on November 26, 2012. Grupo Casa stated that the main reason behind the delisting is related to difficulties related to financial reporting about its acquisitions. The stock has traded in the range of $3.30 and $10.25 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $5.16 and 50 days moving average price of $4.17.
Tyson Foods Inc. (NYSE:TSN): Tyson Foods Inc. stock is trending after its strong quarterly results. The company also declared special dividend. Its stock is currently trading at $18.49, up 9.53 percent from its previous close of $16.88. It has traded in the range of $14.07 and $21.06 in the past 52 weeks. Tyson Foods reported 0.4 percent drop in its quarterly revenue to $8.37 billion, however, its net income grew 90.7 percent to $185 million. The company had earned $97 million in net income during the corresponding quarter of the previous year. On per share basis, its adjusted net income stood at 55 cents per share beating the consensus estimate of 43 cents per share. The company was expected to report its revenue at $8.49, but it lagged behind. Tyson Foods declared a special dividend of 10 cents per share. It also increased its annual dividend to 20 cents per share. The stock is trading at the Price Earnings ratio of 13.83 and it is trading above its 20 days moving average price of $18.06 and 50 days moving average price of $17.45.
Cirrus Logic Inc. (NASDAQ:CRUS): Another quarterly results success story is from Cirrus Logic Inc. The stock is up 9.30 percent at $30.90. Cirrus Logic reported 91 percent increase in its revenue for the fiscal second quarter of the year at $19.3.8 million. Analysts expected the company to report its revenue at $181 million. Its EPS at 79 cents per share also surpassed consensus estimate of 71 cents per share. The company also provided its estimates for the third quarter of the year. Cirrus Logic expects its third quarter revenue to be in the range of $270 million and $300 million whereas its gross margin is likely to be in the range of 50 percent to 52 percent. The stock had opened at $29.00 and has traded in the range of $28.90 and $31.00 in the current trading session. Cirrus Logic stock commands the Price Earnings ratio of 19.21.
SINA Corporation (NASDAQ:SINA): The stock is currently trading at $48.31, up 7.19 percent from its previous close of $45.07. It traded in the range of $48.51 and $50.80 in the current session. The company announced its revenue for the fiscal third quarter at $152.4 million, beating the consensus estimate of $149.1 million. The company’s GAAP revenue for the corresponding quarter of the last year stood at $130.3 million. SINA Corporation’s earnings per share for the quarter is at 17 cents, while the consensus estimate was at 11 cents per share. SINA also provided estimates for the fourth quarter. Its revenue is estimated at $134.2 million whereas earnings per share is likely to be at 4 cents. The company is also at the helm of rumors about Alibaba’s interest in its Weibo business. The stock is trading at the Price Earnings ratio of 85.92. However, the stock is trading below its 20 days moving average price of $48.75 and 50 days moving average price of $49.
