Stockpickr Lists: Subprime Sinks American Home Mortgage
Editor's note: In this feature from Stockpickr, we highlight lists of stocks that have made new highs, lows or seen other unusual activity.
Biggest % Losers: American Home Mortgage (AHM) plummeted 90%, after the company said it can no longer fund home loans and may liquidate assets, putting the future of the company in doubt. The REIT sunk $9.43 Tuesday to $1.04.
52-Week Lows: NovaStar Financial (NFI) continues to reach new lows, as it sunk 25% on Tuesday. The Kansas City-based subprime mortgage lender's stock reached trading volume of 4.7 million shares Tuesday, nearly five times its three-month average of 970,000 shares. Shares lost $3.29, bottoming out at $9.64.
Biggest % Gainers: Cambridge Display Technologies (OLED) rocketed 89% Tuesday, after Japan's Sumitomo agreed to buy the Britain-based company for $12 a share, or $285 million, representing a hefty premium in an all-cash deal scheduled to finalized during the third or fourth quarter. The LED maker closed up $5.47 to $11.62.52-Week Highs: Faro Technologies (FARO) jumped 23% to a 52-week high after the Florida-based company posted outstanding second-quarter earnings that beat last year's numbers by 600%. The company, which makes computerized measurement devices, saw earnings of 39 cents a share or $5.8 million. Shares closed up $7.02, reaching $37.23. Rising on Unusual Volume: Shares of Under Armour (UA) were trading at almost five times their three-month average volume Tuesday, sending the athletic apparel company up 11.2%. The Baltimore-based company reported a second-quarter net income increase of 135.6% to $5.7 million, from $2.4 million in the prior year. The stock jumped $6.23 reaching $61.41. Stocks with Unusual Option Activity: Armor Holdings (AH) was experiencing unusual option activity. Shares closed up 8 cents at $87.98. Latest Activist Situations: Nelson Peltz's Trian Fund, a 9.8% holder of Wendy's (WEN), said in a letter filed with the Securities and Exchange Commission it would be prepared to offer between $37 to $41 per share to Wendy's shareholders. The hamburger chain's shares climbed $1.34, or 4%, to $35.03.
Forum of the DayBFX opens a discussion about earnings plays.
Do You Know the Answer?Like many investment bank stocks, Goldman Sachs (GS) has been in a freefall lately. Where do people think the stock will end up by the end of the year, asks AHN.
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