Stocks Crossing 50-Day SMA 07/19: (OCZ) (FIO) (DRYS) Above; (BAC) (CVS) (UNH) 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:
- OCZ Technology Group, Inc. (OCZ) - up 22.8 percent. Popping higher amid market chatter that Seagate Technology (Nasdaq: STX) might make a bid. Shares last dropped below the 50-day on July 10th.
- International Business Machines (NYSE: IBM) - up 3.7 percent. IBM popping higher today following second-quarter results, issued after the market closed on Wednesday. Profit in the quarter was $3.51 per share, besting views. Guidance called for EPS above $15.10, versus consensus views of $15.06.
- DryShips (Nasdaq: DRYS) - up 4.7 percent. DryShips appeared to have made a move following headlines of German support for the Spanish bank bailout.
- Sherwin-Williams (NYSE: SHW) - up 3.3 percent. Moving higher following second-quarter results, with EPS of $2.17 beating views. Outlook for FY12 EPS of $6.20 - $6.40 is to the strong-side of the $6.27 consensus.
- Fusion-io, Inc. (NYSE: FIO) - up 6.1 percent. Could be seeing a pop on takeover chatter for peer OCZ. Shares last crossed above the 50-day on July 5th, failing to hold above the level.
- Bank of America Corp. (NYSE: BAC) - down 3.9 percent. BofA shares dropped Wednesday amid its second quarter numbers. Shares were pressured today around the 50-day SMA.
- CVS Caremark (NYSE: CVS) - down 5.7 percent. CVS lower following Walgreens (NYSE: WAG) and Express Scripts (Nasdaq: ESRX) hammering out a new pharmacy network deal earlier. CVS issued comments shortly thereafter.
- UnitedHealth Group (NYSE: UNH) - down 2.7 percent. UnitedHealth giving a shimmy, then a shake, following second quarter results and improved outlook issued earlier. Shares had been trading in a tight range prior to today and post-Obamacare ruling by the Supreme Court in late June.
- The Goldman Sachs Group, Inc. (NYSE: GS) - down 1.6 percent. Goldman following financials lower after crossing above the 50-day on Tuesday. Trader might want to watch this stock, with shares butting up against the 50-day on July 3rd and 5th, though volume was lower both days due to the holiday week.
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