TrendingWallStreet.com Begins Coverage on ORCL, ARIA, RAD, and FNMAadmin
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Oracle Corporation (NYSE: ORCL) shares closed up 5.78 percent Thursday with nearly 63 million shares traded. The stock hit a new 52-week high of $36.96 during intra-day trading. The company reported second-quarter results Wednesday night, beating analyst targets on both the top and bottom lines. Oracle’s revenue is up just 2% year-over-year, and net income is down 1%, but the results still beat analysts’ estimates.
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Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) shares closed up 10.84 percent with about 66 million shares traded on Thursday. The stock was one of the most actively traded stocks on the NASDAQ. Not too long ago the company reported a major issue with its drug Iclusig, and announced the discontinuation of a late-stage trial for newly diagnosed chronic myeloid leukemia.
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Rite Aid Corporation (NYSE: RAD) shares closed down 10.24 percent on Thursday with nearly 70 million shares traded. The stock was one of the biggest decliners on the NYSE. The drop came after the company released their earnings report. The drugstore operator reported a slight increase in revenue from the year-ago quarter, but cut estimates for its fiscal year. The company now expects estimated earnings of between 17 cents and 23 cents per share for the fiscal year as opposed to the previous estimates of 18 cents to 27 cents per share.
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Federal National Mortgage Association (OTCBB: FNMA) shares closed up 9.03 percent on Thursday with about 45 million shares traded. U.S. homes gained $1.9 trillion in total value this year, the biggest jump since 2005, as the real estate market rebounded from the recession, according to Zillow Inc. (Z). Zillow said that at the end of 2013, the housing stock will be worth about $25.7 trillion.
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Posted: December 20th, 2013 under ACCESSWIRE.