Most Active Stocks: Motorola Jumps; Sirius Drops; Gander Mountain Soars
Updated from 3:50 p.m. EDT
Motorola (MOT) was the Big Board's biggest percentage gainer and volume mover Wednesday, with its stock closing up $3.08, or 19%, to $19.30. More than 81 million shares traded hands vs. its 30-day average daily volume of just over 14 million. The company reported Tuesday that its quarterly profit had tripled. Motorola reported first-quarter earnings of $609 million, or 25 cents a share, vs. $169 million, or 7 cents a share, in the year-ago period.
Alcon (ACL), the world's largest eye-care maker, enjoyed healthy gains on Wednesday as well, as the company announced strong quarterly results that beat analysts' expectations.
Alcon said its first-quarter profit rose 47%, as revenue climbed 19%. The company earned 61 cents a share vs. 42 cents a year ago. Analysts polled by Thomson First Call were looking for the company to earn just 49 cents per share. As a result of the stronger-than-expected earnings, the company's stock closed up $5.96, or 8.8%, to $73.54.Shoemaker Wolverine World Wide (WWW) moved higher on Wednesday after the company posted strong earnings and revenue for its first quarter. The company's shares closed up $1.87, or 7.7%, to $26.30. Other most active names on the Big Board included Lucent (LU), Ford (F) and Cisco (CSCO). Ford reported surprising first-quarter earnings, saying its net earnings more than doubled to $1.95 billion, or 94 cents a share, compared with $896 million, or 45 cents a share, a year earlier. Ford also said that it was raising its earnings forecast for the year from $1.20 to $1.30 a share to $1.50 to $1.60 a share. Ford shares closed up $1.38, or 10.2%, to $14.94. Sirius Satellite (SIRI) was the most actively traded stock in over-the-counter action, with over 138 million shares changing hands after the satellite-radio operator posted a first-quarter loss on Wednesday morning.
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