Futures Indicating Higher Open As Earnings Season Kicks Into High Gear
LONDON, January 10, 2013 /PRNewswire/ --
Wednesday OTC Stocks Review: AMR Corp, Vumee, and Herbalife.
A day after we saw positive earnings from Alcoa (NYSE: AA) which sent the US markets higher across the board we are seeing more positive reports and guidance coming from companies due to report 4th quarter earnings.
Vumee Inc. (OTC: VUME) was one of the trading stories of the day yesterday due to big volume and price appreciation. VUME was higher by more than 100% and traded north of $7 million on the day. News regarding Ray Lewis's addition to the marketing team could have an effect in trading of the shares in today's session.
AMR Corp (OTC: AAMRQ) which has been trading strong volume for a while now and has been covered by our site for a number of weeks was the top traded stock on the OTC market today. Shares of AAMRQ traded higher by 42% on a massive $64 million in volume. TO give you some idea that's more than 10 times the normal daily volume for the stock.
World Moto, Inc. (OTC: FARE) finally pulled back in trading yesterday on Wall Street with shares down 19% on over $10 million traded. FARE has had quite an amazing run over the last 2 weeks and yesterdays end result was the first day we have seen shares down double digits.
Herbalife (NYSE: HLF) received much news coverage today with Bill Ackman coming out with a negative report on the company, basically saying that shares of the company will be going to zero. His opinion is that shares of HLF are part of a pyramid scheme; we will be following to see the outcome of this breaking news.
Fannie Mae (OTC: FNMAS) was also back in the news yesterday with shares trading very heavy volume, over $25 million. Price action was limited and the stock was higher by 2% with an awful lot of shares exchanging hands.
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Regardless of what's going on in the mainstream we will always keep you updated and look to be value added. We hope you have enjoyed our coverage; we will be back to you tomorrow with our daily look at the OTC markets.
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