Stocks Crossing 50-Day SMA 09/21: (STX) (WDC) (AXTI) Above; (COH) (BTH) (TQNT) Below
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- UPDATE: Revised Q4 GDP Growth Slows to 2.2% as Private Inventory Investment Estimate Trimmed
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- UPDATE: FDIC Takes Over Doral Bank (DRL) in Puerto Rico
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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:
- Seagate Technology (Nasdaq: STX) - up 2.9 percent. Gapping and holding above the $30 level Friday. Reports had the company cutting fourth-quarter sales expectations to a range of $3.7 billion to $3.8 billion at an analyst meeting this morning, with the consensus at $4.04 billion. Shares seemed to have shrugged-off the news.
- Western Digital Corp. (Nasdaq: WDC) - up 3.2 percent. Following peer Seagate higher today on positive sentiment on the tech sector.
- AXT Inc. (Nasdaq: AXTI) - up 11.4 percent. Gaining as Apple's iPhone 5 goes on sale today. The firm designs, develops, manufactures, and distributes compound and single element semiconductor substrates for use in wireless communications, lighting display applications, and fiber optic communications.
- Bristol-Myers Squibb (NYSE: BMY) - up 1.6 percent. Making a nice, easy moving higher today after a couple of positive news bits. Shares are crossing several moving averages today, following a 7.2 percent run higher from recent lows hit in late August.
- Coach, Inc. (NYSE: COH) - down 4.1 percent. Dipping on concerns that Michael Kors (NYSE: KORS) recent raised expectations means its biting into Coach's market share.
- Blyth, Inc. (NYSE: BTH) - down 13.2 percent. Dropping pretty well as Moody's adjusted its outlook on Blyth from Stable to Negative.
- TriQuint Semi (Nasdaq: TQNT) - down 0.4 percent. By the rumor and sell the news here. TriQuint is affirmed as having a chip in Apple's iPhone 5 today. Shares have been flat most of the week, allowing convergence for several moving averages.
Shares of TriQuint also slipped 4 percent Thursday on this report.
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