Stocks Crossing 50-Day SMA 07/13: (JPM) (GS) (KGC) Above; (QCOR) (FDO) (DRI) Below
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The following is a list of stocks crossing the 50-day simple moving average (SMA) and are either above or below the metric. The 50-day is considered an indicator of a potential near-term trend formation.
Crossing and above:
Crossing and above:
- JPMorgan (NYSE: JPM) - up 5.9 percent. Reported strong second-quarter numbers Friday as well as announced it would cease synthetic trading in the CIO unit.
- The Goldman Sachs Group, Inc. (NYSE: GS) - up 3.8 percent. Getting a boost from peer JPMorgan today. The firm will be releasing its second-quarter numbers on July 17th.
- Kinross Gold Corp. (NYSE: KGC) - up 7.1 percent. Rumor Kinross might be a takeover target for Barrick Gold (NYSE: ABX) is sending shares higher.
- ReneSola Ltd (NYSE: SOL) - up 8.8 percent. Said it entered into an exclusive distribution agreement to provide 100 MW of the Company's high-efficiency Virtus modules to BIG SOLAR S.A.
The company raised its FY12 shipment guidance from 1.8- to 2-GW to a new range of 2.2-GW to 2.4-GW.
- Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR) - down 6.1 percent. Lower amid making a presentation at a JMP conference today. Questcor was hit on Tuesday following a negative report from Citron Research.
- Family Dollar (NYSE: FDO) - down 1.7 percent. Discount food retailers lower on SUPERVALU Inc. (NYSE: SVU) news late Wednesday. The grocer said it would explore strategic alternatives, which was on top of missing first-quarter numbers. Family Dollar, for its part, will be holding an investor call on July 18th to discuss initiatives.
- Wet Seal Inc. (Nasdaq: WTSLA) - down 4.4 percent. Lower following the filing of a racial discrimination suit by workers, disclosed late Thursday. Wet Seal issued a response today.
- Darden Restaurants, Inc. (NYSE: DRI) - down 0.1 percent. Darden agreed to acquire Yard House USA, Inc. for $585 million. The Company also noted it expects total sales growth of between 9% and 10% in fiscal 2013 and anticipates that diluted net earnings per share growth from continuing operations in fiscal 2013 will be in the range of 5% to 9%. As a result of the Yard House acquisition, the Company projects that share repurchase during fiscal 2013 will total approximately $50 million, which is down from the $200 million to $250 million of share repurchase previously projected.
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