NEW YORK, March 13, 2013 /PRNewswire/ --
Cabela Inc. shares hit a new 52-week high of $60.98 on Tuesday after the Company revealed that it expects first-quarter profit to come in above market expectations. Citing strong sales across most of its merchandise categories, the Company expects its earning per share will be 10 to 15 cents higher than the market estimated for the first quarter. Analysts polled by FactSet, on average, had forecast earnings of 47 cents per share, which puts Cabela's earnings estimate at 57 to 62 cents per share.
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J. C. Penney Company, Inc. (NYSE: JCP) - J. C. Penney had one of the biggest volume advances on the NYSE on Tuesday. Trading volume was 35,868,408 shares compared to the stock's average of 11,741,900 shares. The advance in price per share came after Twitter rumors indicated that CEO Ron Johnson was resigning. The Company has denied the rumors. On March 4th, VORNADO REALTY TRUST sold 10 million shares of the Company. Shares of JCP hit as high as $15.95 in intra-day trading yesterday and closed up 3.99% at $15.65.
Zynga, Inc. (Nasdaq: ZNGA) - Shares of Zynga retraced on Tuesday to hit a low of $3.66 in intra-day trading. The stock closed down 5.11%. The pullback came after Macquarie Capital issued a note casting doubt on any buyout speculation. Ben Schachter said the idea that Yahoo might buy Zynga is "unfounded." Wunderlich Securities issued a note on Monday naming several companies (including Zynga) that Yahoo might have an interest in buying, which boosted the stock more than 10%. On March 1st, Zynga's CFO sold 125,000 shares.
China Xiniya Fashion Limited (NYSE: XNY) - One of the biggest gainers on the NYSE on Tuesday was China Xiniya Fashion Limited. The stock experienced an unusual break out in price per share and volume. In intra-day trading, the stock was up as much as 25% at its high of $1.69. The stock's trading volume was nearly 70 times higher than average. The Company designs, manufactures, and sells men's business casual and business formal apparel and accessories to retail customers in the People's Republic of China.
Apple Inc. (Nasdaq: AAPL) - Shares of Apple sank as much as 2.41% on Tuesday in intra-day trading when the stock hit a low of $427.57. Rival Samsung Electronics Co. is expected to unveil the next version of its Galaxy S line of smartphones this week. Samsung is expected to unveil the phone this Thursday evening in New York City. Analyst Peter Misek also said in a research note that Apple Inc. has a 25 percent chance of missing its quarterly revenue forecast and cut his target price on Apple's stock from $500 to $420. Shares of AAPL closed down 2.16% yesterday at $428.43.
Camelot Information Systems Inc. (NYSE: CIS) - Camelot Information Systems was one of the most active stocks on the NYSE yesterday. The Company announced its Board of Directors has received a preliminary non-binding proposal letter dated March 12, 2013 from its Chairman and Chief Executive Officer, Mr. Simon Yiming Ma its President, Ms. Heidi Chou, and its Executive Vice President and the Chief Executive Officer of CFITS, a subsidiary of the Company, Mr. Yuhui Wang, to acquire all of the outstanding shares of the Company not currently owned by the Buyer Group and their respective affiliates and certain other management members of the Company who may choose to join the Buyer Group in a going private transaction for $1.85 per ADS in cash, subject to certain conditions. Shares of CIS closed at $1.69, up 12.67%.
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