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Stocks Crossing 50-Day SMA 08/28: (LXK) (BIDU) (P) Above; (ARNA) (FSL) (JOY) Below

August 28, 2012 2:04 PM EDT Send to a Friend
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:
  • Lexmark (NYSE: LXK) - up 15.4 percent. Popping after announcing a restructuring plan earlier. The plan includes exiting of the development and manufacturing of the company's remaining inkjet hardware. Lexmark also plans a $100 million buyback in the fourth quarter.

  • Baidu, Inc. (Nasdaq: BIDU) - up 2.8 percent. Moving higher as peer Qihoo 360 (NYSE: QIHU) is reportedly losing search traffic.

  • Pandora Media (NYSE: P) - up 1.7 percent. Shares higher into Q213 EPS results on Wednesday. Click here for a preview.

    Closing higher would be the fifth time in six sessions for Pandora.

  • Xerox Corp. (NYSE: XRX) - up 0.8 percent. Higher on peer Lexmark's news Tuesday. Xerox shares are well off lows below $6.50 hit at the end of July.
Crossing and below:
  • Arena Pharmaceuticals (Nasdaq: ARNA) - down percent. Butting up against he 50-day SMA, which is currently situated at $9.33. Arena saw the same kind of action on Monday's session.

  • Freescale Semi (NYSE: FSL) - down 4.3 percent. UBS started coverage with a Neutral rating and $11.75 target.

  • Joy Global, Inc. (NYSE: JOY) - down 2.1 percent. Looking at a five-session losing streak into third-quarter results, expected out early Wednesday. Click here for more.

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