Apple Shares Bounce on Rumored iPhone 5S
NEW YORK, March 22, 2013 /PRNewswire/ --
Apple Inc. saw gains on Thursday as additional rumors about the pending iPhone 5S came to surface. According to tech blog Digitimes, the iPhone 5S could be seen later this summer and that Apple is expected to ship around 45 million iPhone 5S units in the fourth quarter of 2013. The phone is expected to be similar to the iPhone 5 with slight improvements made including a better camera and faster processor. Shares of Apple hit as high as $457.98 yesterday.
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Excel Maritime Carriers, Ltd. (NYSE: EXM) - Shares of EXM saw an unusual spike on Thursday as well as advance in volume. The stock closed up 27.66% at $0.90 with trading volume significantly higher than average. Yesterday trading volume was around 4.4 million shares in comparison to an average of 876,953 shares. The Shipping industry saw a boost on Thursday which could have influenced Excel Maritime's gains. The Company, who provides sea borne dry bulk cargo transportation services worldwide, has a 52-week trading range of 0.36 - 2.07.
ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) - Acadia Pharmaceuticals hit a new multi-year high of $8.81 on Thursday. The big move came after the Company reported that new data from a study of its drug pimavanserin met a series of secondary goals in the clinical trial. Pimavanserin is designed to treat psychosis in patients with Parkinson's disease. The Company has said that patients treated with pimavanserin were less likely to suffer hallucinations and delusions. Trading volume yesterday was over 22 million shares; roughly thirteen times higher than the stock's average. Shares closed up 23.91% at $8.24.
SUPERVALU Inc. (NYSE: SVU) - Supervalu Inc. was one of the most active stocks trading on the NYSE on Thursday. The stock rose more than 13 percent after the supermarket operator announced that it completed the sale of five of its grocery chains. Supervalu sold five of its grocery chains to Cerebus Capital Management LP in a deal valued at $3.3 billion, including debt. The company said it will be a "more efficient wholesale and retail company" after the transfer, with roughly $17 billion in annual sales. Volume traded yesterday was more than double than average. The stock closed up 11.69% at $4.68.
Oracle Corporation (Nasdaq: ORCL) - Oracle Corporation was one of the biggest decliners on the Nasdaq composite on Thursday with the stock sinking as much as 10% in intra-day trading when it hit a low of $32.18. The big drop came after the Company reported surprisingly disappointing third-quarter new software revenue late Wednesday, which it blamed on poor sales execution. Several analysts changed their ratings on the Company including Credit Agricole who reduced its rating on Oracle, to "underperform" from "outperform" and cut its share target price to $35 from $38. Trading volume yesterday was over 130 million shares. The stock closed at $32.30, down 9.69%.
Ballard Power Systems Inc. (Nasdaq: BLDP) - Shares of Ballard Power Systems took a tumble on Thursday after the Company announced that it has priced an underwritten offering of 7,275,000 units at a price of U.S. $1.10 per unit, for gross offering proceeds of approximately U.S. $8.0 million. The stock sank as low as $0.99 in intra-day trading. By the close it bounced back slightly to $1.08, still down 20.59%. Trading volume yesterday was significantly higher than average at about 5.5 million shares traded in comparison to an average of 393,382 shares.
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