Volume Busters of the Day: S, BAC, ZNGA, FB, F

PUBLISHED: 26 Oct 2012 @ 04:11 | Comments (0) | More info about Ed Liston

Major markets are in the green today and seem to recoup some of the losses they underwent in the past few days. Most of the sectors are also doing fine with Technology and Financials trading in the green territory.

The week saw many prominent companies declaring their results and the declarations resulted in increase in trading volume. Let’s have a look at the stocks which are making waves in the market today:

Sprint Nextel Corporation (NYSE:S): The stock is currently trading at $5.59, down 0.53 percent from its previous close of $5.62. The stock is trading at the beta of 1.13. It has traded in the range of $2.10 and $6.04 in the past 52 weeks. However, the stock is trading below its 20 days moving average price and 50 days moving average price of $5.66. Sprint Nextel has already traded 50.35 million shares, in comparison to its usual daily volume of 100.66 million. The company reported its third quarter numbers at $767 million in loss. It had suffered a loss of $301 million in the corresponding quarter of the last year. However, its quarterly revenue rose 5.2 percent to $8.76 billion. It also exceeded consensus estimate of $8.73 billion in revenue. It also beat analysts’ estimates of 50 cents per share in loss by declaring its quarterly loss at 26 cents per share.

Bank of America Corp. (NYSE:BAC): The company stock has usual daily volume of 133 million shares and it has already exchanged 40 million shares so far. The company stock is currently trading at $9.24, down 0.70 percent from its previous close of $9.31. The stock had opened at $9.37 and has traded in the range of $9.22 and $9.41 in the current trading session. Bank of America stock commands a Price Earnings ratio of 25.14. The bank has been hit by a $1 billion lawsuit on account of mortgage fraud. Bank of America and Countrywide Financial have been accused of making fraudulent sale of approval loans to Freddie Mac and Fannie Mae. The company offers banking and financial services and is based out of Charlotte in North Carolina.

Zynga Inc. (NASDAQ:ZNGA): The gaming company reported its quarterly results and it announced its loss for the third quarter at 7 cents per share. Its net loss for the quarter stood at $52.7 million. Zynga had earned $12.5 million in the corresponding quarter of the last year. Its revenue stood at $316.6 million, up 3 percent. The company was expected to report its revenue at $291 million. It has traded 38.44 million shares so far, exceeding its usual daily volume of Zynga is currently trading at $2.39, up 12.17 percent from its previous close of $2.13. It has traded in the range of $2.10 and $15.91 in the past 52 weeks. However, the stock is trading in line with its 20 days moving average price of $2.39 and above its 50 days moving average price of $2.38. Zynga also announced a round of layoffs and shutting down of some of its games.

Facebook Inc. (NASDAQ:FB): The company stock is currently trading at $22.74, down 2.11 percent from its previous close of $23.23. The stock had opened at $23.29 and has traded in the range of $22.65 and $23.31 in the current trading session. Facebook stock commands the Price Earnings ratio of 117.23. The stock has traded 45.3 million shares so far. Its usual daily volume stands at 51.585 million shares. Facebook recently announced its quarterly results and its revenue grew 32 percent to $1.26 billion. The company’s operating margin stood at 30 percent and it derived $1.09 billion in revenue from advertising. Its per share earnings for the quarter stood at 12 cents.

Ford Motor Company (NYSE:F): The motor company is gearing up to revamp its business in Europe. It would be cutting jobs and has planned to shut down 2 more European plants. Ford Motor is currently trading at $10.31, up 1.38 percent from its previous close of $10.17. The stock is trading at the Price Earnings ratio of 2.34. It has traded in the range of $8.82 and $13.05 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $10.3 and is in line with its 50 days moving average price of $10.32. The two plants scheduled to be shutdown are located in England. Both these plants have about 1,400 workers.

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