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Now that the suspense is over and the President Obama has won a new term, the markets do not seem to share the enthusiasm. Quite contrary to expectations, markets have plunged considerably and dollar also looks weak against major currencies. The market is now concerned with European woes and ‘Fiscal Cliff’. However, there are stocks making big splash in the otherwise down market. Below is the list of top price gainers in the current market:
VirnetX Holding Corp. (AMEX:VHC): The stock is currently trading at $31.45, up 19.63 percent from its previous close of $26.29. The stock is trading at the beta of 1.69. It has traded in the range of $18.20 and $41.93 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $31.86 and above its 50 days moving average price of $31.20.The stock has spiked after a legal ruling in its case against Apple. A federal jury in Texas found Apple to be guilty of infringing VirnetX Holding’s patent. The Cupertino-based company has been ordered to pay $368 million. The company had asked $708 million in damages. VirnetX Holding is involved in the business of developing software and technology solutions. The company was formed in 2005 and it is based out of Nevada. The stock has traded 2.647 million shares, in comparison to its usual trading volume of 763k shares.
Ciena Corporation (NASDAQ:CIEN): The company stock is currently trading at $14.47, up 9.79 percent from its previous close of $13.18. The stock had opened at $13.75 and has traded in the range of $13.75 and $14.86 in the current trading session. Ciena Corp. stock commands the beta of 2.17. Ciena Corporation is trading up on the news of AT&T planning to invest $14 billion on network expansion. Ciena Corporation derives about 15 percent of its revenue from AT&T. The company is involved in the business of providing services and software solutions. It also offers switching and data services. Ciena Corporation is based out of Maryland and it was formed in 1992. The stock is trading above its short term moving average of $13.26.
Health Management Associates Inc. (NYSE:HMA): The stock has Outperform rating from Credit Suisse and its price target has been set at $10. The stock is currently trading at $8.35, up 8.23 percent from its previous close of $7.72. The stock is trading at the Price Earnings ratio of 14.49. It has traded in the range of $4.81 and $9.26 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $8.33 and 50 days moving average price of $8.11. The company is involved in the business of operating acute care hospitals. It also provides outpatient services as well. Health Management Associates is based out of Florida and it was formed in 1977.
Centene Corp. (NYSE:CNC): While markets are generally down, healthcare sector has responded well to Obama re-election. The company stock is currently trading at $42.71, up 7.12 percent from its previous close of $39.87. The stock had opened at $40.87 and has traded in the range of $40.96 and $43.80 in the current trading session. Centene Corp. stock commands the Price Earnings ratio of 97.90. Centene Corp. has received rating upgrade from Bank of America. The stock has been rated Buy, up from Underperform. Bank of America has set the stock’s price target at $46. Its early price target was at $39. The company is involved in the business of providing healthcare services. It is based out of Missouri and it was formed in 1984. The stock has beta of 1.34.
ADTRAN Inc. (NASDAQ:ADTN): The stock is currently trading at $18.69, up 6.68 percent from its previous close of $17.52. The stock is trading at the Price Earnings ratio of 16.07. It has traded in the range of $15.38 and $38.95 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $18.81 and 50 days moving average price of $18.86. The stock has dividend yield ratio of 2.10 percent and it has beta of 1.27. The company provides communication technology solutions. ADTRAN Inc. was formed in 1985 and it is based out of Alabama. The stock has Neutral rating from Goldman Sachs.
