NEW YORK, March 25, 2013 /PRNewswire/ --
The market rebounded on Friday after disappointing sales announced by Oracle made many stocks drop on Thursday. Worries over the Cyprus debt crisis lightened which helped push the market higher in the last hour of trading. The boost on Friday was also influenced by strong earnings from major corporations including Nike and Tiffany who beat predictions. Shares of Nike Inc. rose to an all-time high of $60.25, after the Company announced late Thursday that third-quarter net income climbed 55%. The Company also revealed that their gross margin improved for the first time in 10 quarters.
Whether bull or bear The Stock Freak has got you covered! Sign up to receive our free newsletters and stay up to date with stocks on the run. http://www.TheStockFreak.com
Micron Technology Inc. (Nasdaq: MU) - Shares of MU hit a new 52-week high of $10.27 on Friday and was one of the most active stocks on the Nasdaq composite. The stock traded over 98 million shares in comparison to an average of about 28 million shares. The Company reported second quarter fiscal 2013 loss per share of 28 cents, wider than the Zacks Consensus Estimate of 20 cents loss per share. However, an upbeat view for the overall DRAM and NAND markets helped the stock move north on Friday. Micron's price target was also raised to $14 from $8 at Credit Suisse and the Company is poised to get a $400 million discount on the acquisition of Japanese rival Elpida Memory Inc., after a 16 percent slump in the yen against the U.S. dollar. Micron Technology, Inc., together with its subsidiaries, engages in the manufacture and marketing of semiconductor devices worldwide. The stock closed up 10.80% on Friday at $10.05.
Many mid or large cap stocks once started off as Penny stocks!
Pepsico, Inc. (NYSE: PEP) - Pepsico hit a new 52-Week high of $79.27 on Friday after speculation arose that Pepsico and Mondelez International may pursue a merger. Mondelez sells brands such as Cadbury, Nabisco and Oreo. Investor Nelson Peltz may pursue a merger of the two companies. Peltz through his investment vehicle, Trian Fund Management, has built positions worth about $2 billion in PepsiCo and Mondelez. Trading volume for PEP more than doubled on Friday with more than 12 million shares traded. The stock closed up at $78.67, up 3.31%.
Anacor Pharmaceuticals, Inc. (Nasdaq: ANAC) - Anacor Pharmaceuticals was one of the most active stocks trading on the Nasdaq composite on Friday. The stock closed up 25.62%, at $6.08. In intra-day trading, shares went as high as $7.00, just 18 cents shy of the stock's 52-week high. Wedbush raised its price target for Anacor to $20 from $10. On Thursday the Company reported strong data from a clinical trial of a drug intended to treat a type of chronic rash. Anacor is testing a topical drug called AN2728 as a treatment for atopic dermatitis, a chronic rash that causes inflammation and itching. The stock has almost doubled in price this week moving from $3.61 to $7.00.
Penny stocks can deliver sky-rocketing returns and are a popular choice among many investors in the market because of how much lower they trade than big cap companies.
MARIN SOTFWARE INCORPORATED (NYSE: MRIN) - Marin Software Incorporated made their market debut on Friday. Shares of MRIN opened at $19 per share on the NYSE Friday morning and were trading at $17.75. The Company traded 10,487,806 shares on its first day. The Company is a provider of a leading digital ad management platform for advertisers and agencies. Marin provides a leading revenue acquisition management platform used by advertisers and agencies to manage more than $4.7 billion in annualized ad spend.
TIBCO Software Inc. (Nasdaq: TIBX) - TIBCO Software was one of the biggest decliners on the Nasdaq composite on Friday. Shares hit as low as $19.15 in intra-day trading but popped back to close at $20.99. The Company reported late Thursday Q1 revenue that missed views. The company said it inked 12 sales of more than $1 million in the quarter, but that's down 40% from 20 such deals in the year-earlier period. For the current quarter, Tibco expects EPS ex items of 17 cents to 19 cents, trailing largely behind the 26 cents analysts had been modeling. The stock traded more than 24 million shares on Friday and closed down 9.41%.
Penny stocks due to their tiny share prices, allow online investors to buy large numbers of shares which means they own a bigger quantity of the stock.
To find similar research reports that are available for free follow the link below and sign up at http://www.TheStockFreak.com
Disclosure: TheStockFreak.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please read our report and visit our website, for complete risks and disclosures.