Nokia's Problems Haunt Microsoft Microsoft, which made its own big bet by choosing Nokia to build its flagship Windows Phone devices, is responding by increasing its aid for the handset maker. But if Nokia continues to struggle, the software giant may have to start searching for other options.
Microsoft declined to comment. Its shares Thursday rose 21 cents to $29.34 on the Nasdaq Stock Market, and are up 13% year-to-date.
Moody’s Cuts Credit Ratings of 15 Big Banks Moody’s approach reflects its belief that large banks have fundamental weaknesses that could still hurt their creditors. Along with Citigroup and Bank of America, the credit rating agency took action on 13 other banks, Morgan Stanley, JPMorgan Chase, Goldman Sachs, Credit Suisse, Deutsche Bank, UBS, HSBC, Barclays, BNP Paribas, Credit Agricole, Societe Generale, Royal Bank of Canada, and Royal Bank of Scotland.
But some analysts feel that Moody’s is playing a game of catch-up. The latest actions, say critics, are backward-looking and do not take into account the measures that banks have taken to strengthen themselves, including raising capital and getting out of certain risky businesses like proprietary trading.
McDonald's 2Q results lower than expected Shares fell 3 percent, to $88.81, after the world's largest fast-food chain operator said higher costs and the drag from the U.S. dollar conspired with softening consumer demand to hurt business.
The McDonald's results came days after Chipotle Mexican Grill Inc. surprised investors by saying the sluggish U.S. economy had cooled same-restaurant sales growth, adding to concerns about how much consumers were cutting back on discretionary spending.
We have found the following stocks had unusual volume spikes on Tuesday, August 28, 2012.
Molycorp Inc (NYSE:MCP) had a 87.1% volume spike trading 18,654,400 shares. MCP's 30-day average volume is 2,408,620. Shares closed at $10.75 +11.86%. Molycorp, Inc. is a rare earth oxide producer in the Western Hemisphere. The Company owns fully developed rare earth project outside of China.
Lexmark International (NYSE:LXK) had a 92.7% volume spike trading 13,203,700 shares. LXK's 30-day average volume is 963,795. Shares closed at $21.62 +11.16%. Lexmark International, Inc. is a developer, manufacturer and supplier of printing and imaging solutions for offices and homes.
Seabright Holdings (NYSE:SBX) had a 99.7% volume spike trading 10,226,400 shares. SBX's 30-day average volume is 33,500. Shares closed at $10.96 +33.33%. SeaBright Holdings, Inc operates as a specialty underwriter of multi-jurisdictional workers' compensation insurance. It also provides related wholesale brokerage services and integrated managed medical care services.
H.J. Heinz Company (NYSE:HNZ) had a 55.6% volume spike trading 6,166,900 shares. HNZ's 30-day average volume is 2,735,100. Shares closed at $57.41 +2.03%. H. J. Heinz Company manufactures and markets an extensive line of food products throughout the world. Its main products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products.
Movado Group Inc. (NYSE:MOV) had a 89.6% volume spike trading 3,486,100 shares. MOV's 30-day average volume is 363,985. Shares closed at $35.36 +22.99%. Movado Group Inc designs, sources, markets and distributes fine watches.
Nam Tai Electronics (NYSE:NTE) had a 97.7% volume spike trading 3,211,800 shares. NTE's 30-day average volume is 74,560. Shares closed at $9.90 +24.37%. Nam Tai Electronics, Inc. is an electronics manufacturing and design services provider to a select group of the world's leading OEMs of telecommunications and consumer electronic products.
Phillips-van Heusen Corp. (NYSE:PVH) had a 44.7% volume spike trading 3,015,000 shares. PVH's 30-day average volume is 1,668,460. Shares closed at $92.77 +5.49%. PVH Corp is an apparel company, which designs and markets branded dress shirts, neckwear, sportswear and, to a lesser extent, footwear and other related products.
Sanderson Farms (NASDAQ:SAFM) had a 83.6% volume spike trading 1,797,100 shares. SAFM's 30-day average volume is 294,810. Shares closed at $44.05 +7.44%. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken products.
Stamps.com Inc. (NASDAQ:STMP) had a 76.9% volume spike trading 1,629,600 shares. STMP's 30-day average volume is 375,985. Shares closed at $23.11 +7.49%. Stamps.com is a provider of Internet-based postage solutions. Its PC Postage products and services includes: PC Postage Services; PC Postage Integrations; Mailing & Shipping Supplies Store; and Branded Insurance.
Alexza Pharmaceuticals (NASDAQ:ALXA) had a 45.5% volume spike trading 1,425,500 shares. ALXA's 30-day average volume is 776,870. Shares closed at $4.66 +11.22%. Alexza Pharmaceuticals, Inc. is a pharmaceutical development company focused on the research, development, and commercialization of novel proprietary products for the acute treatment of central nervous system conditions.
Downgraded: FB ZUMZ NAV Analysts are weighing in today on social networking website Facebook Inc (NASDAQ:FB - 19.09), specialty retailer Zumiez Inc. (NASDAQ:ZUMZ - 32.22), and vehicle manufacturer Navistar International Corp (NYSE:NAV - 21.47). Here's a quick roundup of today's bearish brokerage notes.
Bank of America-Merrill Lynch lowered its price target for FB to $23 from $35 this morning, citing upcoming lock-up expirations as the catalyst. In similar fashion, analysts at BMO slashed their price target to $15 from $25, and reiterated their "underperform" rating. Although the stock currently sits on a month-to-date decline of more than 12% -- and has lagged the broader S&P 500 Index (SPX) by close to 42 percentage points during the past two months -- traders are still showing an affinity for calls over puts. In fact, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio stands at 1.39, confirming that traders have bought to open 139 calls for every 100 puts during the last two weeks.
Down almost 11% in pre-market trading, ZUMZ was hit with a slew of price-target cuts after projecting weaker-than-expected current-quarter earnings. Specifically, Jefferies cut its price target to $33 from $37, while Janney, Wedbush, and Roth Capital also downwardly revised their price targets. Still, the stock boasts a year-over-year gain of around 79%, so it's no surprise that near-term calls more than double puts, as evidenced by the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.41. This ratio is docked in the 25th annual percentile, meaning traders have shown a healthier-than-usual appetite for calls over puts.
NAV -- which sits on a 52-week loss of roughly 48% -- saw its price target cut to $27 from $30 at J.P. Morgan ahead of the opening bell, after environmental regulators nearly doubled the company's non-compliance fines. In the options pits, puts bought to open have outpaced calls by more than six to one during the past couple of weeks, according to the stock's 10-day put/call volume ratio of 6.20 on the ISE/CBOE/PHLX. This ratio is just four percentage points shy of a yearly peak, indicating that speculators have rarely picked up puts over calls at a faster pace.
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