Wednesday’s biggest gaining and declining stocks
Alcoa, First Solar, CSC, First Solar, Nokia, Owens-Illinois, PulteGroup
CHICAGO (MarketWatch) — Shares of the following companies made notable moves in Wednesday’s U.S. session:
Advancers
April 11, 2012, 12:26 p.m. EDT
Shares of Alcoa Inc. (NYSE:AA) jumped 8% after the aluminum giant and Dow Jones Industrial Average component reported financial results late Tuesday that beat Wall Street’s targets. “Overall, [the first quarter] was better than expected ... as productivity gains, increased volumes and improved product mix led to record after-tax operating income in global rolled products and a record EBITDA margin in engineered products and solutions,” UBS analyst Brian MacArthur said in a note to clients.
BMW, Volkswagen set record sales
German auto makers Volkswagen and BMW set fresh sales records in the first quarter as booming demand for luxury cars at home and in the U.S. and China offset slack demand across much of Europe. (Photo: Reuters.)
First Solar Inc. (NASDAQ:FSLR) shares rose 7%, bouncing back from a series of losses sustained by the maker of solar panels and power-generating systems.
Owens-Illinois (NYSE:OI) shares rallied 7% after saying first-quarter results should exceed by 35% its year-ago earnings from continuing operations of 50 cents a share. “We are encouraged ... yet conflicting customer demand patterns, especially in Europe where uncertainty regarding financial markets persists, continue to impact our visibility for the remainder of the year,” the company said.
PulteGroup (NYSE:PHM) shares rose 8%, bouncing back from a big loss in the previous session.
Mattress Firm Holding Corp. (NASDAQ:MFRM) soared 17% after reporting sharply higher profit and revenue in the fourth quarter, along with a 25% spike in same-store sales.
Decliners
Computer Sciences Corp. (NYSE:CSC) shares dropped 6%. Late Tuesday, the company said it expects to report a fourth-quarter loss of 92 cents to 96 cents a share. On an adjusted basis, the company expects earnings of 19 cents to 21 cents a share. Analysts surveyed by FactSet Research had been looking for fourth-quarter earnings of 93 cents a share, on average
F5 Networks (NASDAQ:FFIV) shares moved down by 4%. The information technology company releases its second-quarter results on April 18.
Nokia Corp.‘s (NYSE:NOK) U.S.-listed shares dropped 13% to their lowest levels in at least a decade. The mobile phone maker shocked investors with an update before Wednesday’s bell, saying operating margin at its handset unit was negative by 3% in the first quarter in the face of steep competition in India, the Middle East, Africa and China. Nokia had said the unit would be around breakeven, in a range above or below by 2%.
By MarketWatch
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