Thursday's Market Talkers
U.S. markets seem to be stuck in a range—caught between 1,385 and 1,425 on the S&P 500. First the election and now, the "fiscal cliff"…waiting for Washington has become a constant theme on Wall Street.
"We have gone from robust summer action to, election correction to sideways action on anemic volume," says Art Hogan, Lazard Capital Markets Head of Product Strategy Equity Research. "Special situation trading is the only game in town and it's a very dangerous game."
But, if you're looking for some action, there is still plenty of volatility to be found – here are three stocks that saw unusual moves Thursday:
1. Akamai rallied on a deal with telecom services provider AT&T. Leading the S&P 500 for most of the day, the internet technology company will work with AT&T co-sell their services and provide Akamai's content delivery network to AT&T customers. No terms were available but, shares were higher on heavy volume.
2. H&R Block posted a loss for its second-quarter but, investors were looking for an even bigger loss, helping push the stock to its 52-week high. The company also unveiled its strategic vision today and with the fiscal cliff looming, taxes should remain a front-burner issue.
3. Apple: Here's an article about how it managed to defy the so-called "death cross," here's why one analyst is still bearish. The object of everyone's attentions, Apple has lost roughly $150 billion from its market cap since its high back in September. How much is that equal to? Read to the tune of "12 Days of Christmas."
2 Comcasts (*Comcast is the parent company of NBCUniversal.)
and 12 Mattels!