Pops & Drops: Capital One, Winnebago and More
Following are moves you might have missed. Find out why shares of Capital One and Hewlett-Packard popped while Winnebago and Citigroup dropped.
POPS (stocks that jumped higher)
Capital One Financial (COF) popped 2%. The McLean, Virginia-based bank plans to buy ING’s U.S. online bank. This is a huge deal for Capital One, Tim Seymour said, because it will make them the fifth largest in terms of assets of U.S. banks.
Hewlett-Packard (HPQ) popped 2%. The computer maker sued Oracle to force the world’s number three software developer to reveres its decision to discontinue software development on Intel Itanium microprocessor. This is one bright day for HPQ, said Karen Finerman, and she hopes it’s a trend.
The Kroger Company (KR) popped 5%. The biggest U.S. supermarket chain posted higher-than-expected quarterly profits and raised its full-year earnings forecast.
Southern Union (SUG) popped 18%. Energy Transfer Equity announced Thursday it would buy Southern Union for about $4.1 billion.
Odyssey Marine Exploration (OMEX)popped 8%. The company announced it priced a public offering ring of 4.8 million shares of its common stock at $3.05 a share
DROPS (stocks that slid lower)
Winnebago Industries (WGO) dropped 20%. The largest U.S. motor home manufacturer reported weaker-than-expected quarterly results Thursday. WGO is a lousy stock, Guy Adami said. “Big short interest. It probably goes down again tomorrow as they lean on this stock once again.”
Citigroup (C) dropped 1%. The bank said a cyber attack in May affected almost twice as many accounts as it had initially believed. Steve Cortes prefers the brokers to the banks. He’s long Morgan Stanley (MS) and Goldman Sachs (GS).
Finisar (FNSR) dropped 16%. The network equipment maker forecast a dismal first quarter, hurt by a continued slowdown in demand from Chinese telecom equipment makers. It also reported weaker-than-expected earnings.
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