Major Indexes End Winning Streak and J.C. Penney to Start Selling Martha Stewart Goods
NEW YORK, April 15, 2013 /PRNewswire/ --
Stocks took a tumble on Friday after a drop in energy and mining companies ended the four day winning streak for all major indexes. Gold had the biggest drop in more than a year, sinking $78 to $1,487 an ounce. A New York State Supreme Court judge ruled on Friday that J.C. Penney can sell some goods designed by Martha Stewart for the time being.
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NetApp, Inc. (Nasdaq: NTAP) - NetApp traded on unusually high volume on Friday, closing the day with over 20 million shares traded. A day previously the Company had been reiterated by TheStreet Ratings as a buy with a ratings score of B. Shares closed at $35.46 on Friday, up 5.93%.
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BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) - BioCryst shares closed up 13.86% on Friday at $1.89. Earlier in the week the Company was upgraded from "hold" to "buy" by MLV & Co. Growing concerns of a new strain of bird flu in China have pushed the flu treatment developing Company higher.
Infosys Ltd. (NYSE: INFY) - Infosys shares sank on Friday closing down more than 20%. The drop came after the Company revealed a disappointing outlook for fiscal 2013 implying that revenues will be around $7.8-8.1bil, trailing analysts' expectations of $8.3bil according to FactSet.
Penny stocks can deliver sky-rocketing returns and are a popular choice among many investors.
Cleantech Solutions International, Inc. (Nasdaq: CLNT) - Cleantech Solutions International broke out on Friday, closing the day with over 21% in gains. The Company announced its financial results for the three months and year ended December 31, 2012. Revenue for the fourth quarter of 2012 increased 28.3% to $17.6 million, compared to $13.7 million for the same period of 2011. The stock closed at $3.80 on Friday.
Barrick Gold Corporation (NYSE: ABX) - Many gold mining companies dropped on Friday including shares of ABX which sank to a new 52-week low of $22.58. A Chilean court has suspended work at Barrick Gold Corporation's Pascua Lama mine after complaints that the project threatens communities' water supplies and pollutes glaciers. The stock closed down 8.53%.
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