Top Popular Stocks of the Day: GM, FB, DIS, GRMN, LOW

PUBLISHED: 31 Oct 2012 @ 16:37 | Comments (0) | More info about Ed Liston

Markets are back on after two days of unplanned hiatus. While super storm Sandy is still wreaking havoc, the markets are trying to shrug it off and reengage in stock trading. Many major companies announced their quarterly numbers; however, market inaction during the last two days put the dampener on trading activities. Currently, markets seem to be unable to make up their mind as NASDAQ is trading in the red territory while Dow and S&P are trading up. So, let’s have a look at the major stocks making a splash in the market today:

General Motors Company (NYSE:GM): the stock is trading 6 percent up at $24.65. It has swung in the range of $23.90 and $2475 in the current trading session. This despite the fact that the company reported 14 percent decline in its profit for the third quarter of the year. General Motors earned $1.48 billion in the quarter, down from $1.73 billion it had earned in the corresponding quarter of the last year. On per share basis, its earnings stood at 89 cents, down from $1.03 per share in the prior year quarter. It also reported 2.5 percent growth in its revenue for the quarter at $37.6 billion. However, the company managed to beat consensus estimate of 60 cents per share, by posting 93 cents per share in income excluding one time items. General Motors also announced that it plans to cut $500 million in fixed costs in the time period of 2013 and 2015.

Facebook Inc. (NYSE:FB): The stock is facing another sell off after the expiry of its lock-up period. Facebook is currently trading at $21.20, down 3.38 percent from its previous close of $21.94. The stock is trading at the Price Earnings ratio of 108.86. It has traded in the range of $17.55 and $45.00 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $21.13 but above its 50 days moving average price of $21.32. The Facebook lock up expired on Monday, however due to storm related closure, today is the first trading day after the expiry. The stock has already traded 51.87 million shares, up from its usual trading volume of 48.913 million. Due to the expiry, approximately 234 million shares held by Facebook employees became eligible for being sold in the market.

The Walt Disney Company (NYSE:DIS): The company signed a new acquisition deal with Lucasfilm for $4.05 billion. It issued 40 million shares as part consideration and the remaining consideration will be paid in cash. Under this deal, Disney will release a new set of three Star Wars films in 2015. The stock is currently trading at $49.240, down 1.69 percent from its previous close of $50.08. The stock is trading at the Price Earnings ratio of 16.35. It has traded in the range of $33.28 and $53.40 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $49.33 and 50 days moving average price of $49.73. Walt Disney also plans to release a new Star Wars feature every two to three years. George Lucas owned 100 percent stake in Lucasfilm.

Garmin Ltd. (NASDAQ:GRMN): The stock is currently trading at $37.7, down 3.15 percent from its previous close of $38.99. The stock is trading at the Price Earnings ratio of 12.9. It has traded in the range of $34.41 and $50.6 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $38.84 and 50 days moving average price of $39.35. The company reported good quarterly results but this could not enthuse the market. The company reported its net income at 72 cents per share, down from 77 cents per share it had earned in the corresponding quarter of the last year. Garmin was expected to report its income at 61 cents per share.

Lowe’s Companies Inc. (NYSE:LOW): The retail chain stock is rallying due to super storm Sandy effect. The company has about 200 stores in hurricane hit area and is likely to benefit from ramped up purchases. The company stock is currently trading at $32.08, up 2.28 percent from its previous close of $31.36. The stock had opened at $32.69 and has traded in the range of $31.79 and $32.79 in the current trading session. Lowe’s Companies stock commands the Price Earnings ratio of 21.32. Analysts are expecting other home improvement stocks to rise as well.

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