Stocks Crossing 50-Day SMA 10/05: (GRPN) (LEAP) (ETP) Above; (FSLR) (ORCL) (AAPL) Below
- Top 10 News for 8/24 - 8/28: Markets Volatile on Continued China Worries; Revised Q2 GDP Outpaces; Facebook Hits User Activity Milestone
- Wall Street ends flat in quiet end to dramatic week
- Carl Icahn files 13D on Freeport-McMoran (FCX)
- Autodesk (ADSK) Tops Q2 EPS by 2c; Issues Light Q3 Outlook
- Fed says rate hike next month hinges on market volatility
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:
- Groupon (Nasdaq: GRPN) - up 9.8 percent. Moving back above the $5 level as well as the 20-day SMA today. Just about a month away from Groupon's one-year IPO anniversary, shares are down over 80 percent still.
- Leap Wireless (Nasdaq: LEAP) - up 6.8 percent. After a little volatility this week on the MetroPCS (NYSE: PCS)/Deutsche Telekom news, Leap is stabilizing and maybe could end up as a casualty of an ongoing M&A battle in the telecom segment.
- Energy Transfer Partners, L.P. (NYSE: ETP) - up 4.8 percent. Getting a boost after completing its merger with Sunoco (NYSE: SUN).
- First Solar (Nasdaq: FSLR) - down 11.8 percent. Avian Securities downgraded the stock two notches from Positive to Negative citing a reliability issue. For more, click here.
- Oracle (Nasdaq: ORCL) - down 1.5 percent. Taking a break after hosting Oracle OpenWorld 2012 and introducing a slew of products, along with reaffirming its commitment to the cloud computing environment.
Of course, Oracle is flat from last Friday's close at $31.46.
- Apple Inc. (Nasdaq: AAPL) - down 1.9 percent. Apple has been sliding somewhat since peaking above $700 in September. Shares are down 7.2 percent since then heading into calendar third quarter (fiscal fourth for Apple) earnings results as well as the holiday shopping season.
Investors might be feeling a pinch as demand for the iPhone 5 remains robust, but the technology behind panels in the device continues to cause some bottlenecking in the production process. Though the same people who were going to get an iPhone still will, there's the risk of lighter accessory sales as well as a dip in sentiment.
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