Tech Earnings and Projections Could Be Lower In Fourth Quarter Due To Fiscal Cliff
NEW YORK, January 7, 2013 /PRNewswire/ --
Top Five Stocks Review - World Moto, Inc. The Goldman Sachs Group, Nokia Corporation
Futures were mixed ahead of the first full week in trading this year early this morning in the markets. There is a feeling on Wall Street ahead of 4th quarter earnings that some companies could miss expectations or have to lower guidance based on the mess associated with the Fiscal Cliff. The reports suggesting that businesses which would normally have excess cash to be invested in technology in December each year have been holding those funds back.
World Moto, Inc. (OTC: FARE) received much attention in trading on Wall Street last week. FARE was up in the green for the whole week and ended up closing on Friday at 0.26 cents for a gain of 13% on the day. FARE also traded in excess of $10 million on the trading day.
The Goldman Sachs Group (NYSE: GS) had a very solid day to finish last week, up around 5 trading points on heavy volume and positive news. The company was speaking this morning regarding Chinese investments and there opinion that they will be right on those stocks this year. Goldman's track record so far in these investments is not great but they obviously think the tide is about to turn.
Nokia (NYSE: NOK) was slightly higher in Fridays trading and many people are discussing this stock which also trades under (NOKBF) on the OTC market as being in a make or break year. Shares of NOK have been on the rise recently and have more than doubled just since last summer. The company has new releases planned and looks like building on this success in 2013.
Amarantus Biosciences (OTC: AMBS) managed to stay flat on Friday after being down double digits the day before in the small cap markets. AMBS traded $3 million and was higher by 0.6%; we will continue to track these names based on volume this week and see if they can build on Friday's closing prices.
AMR Corp (OTC: AAMRQ) was another company in the small cap space which has traded heavily all through December. Can AAMRQ get passed the $1.00 level is the question on most people's minds, and for the moment the answer to that question is No. AAMRQ was higher by 3.5% in Friday's session on over $2 million traded, the stock closed at $0.87.
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