Stocks to Watch: VZ, T, SNE & More
Take a look at some of Friday's midday movers:
Verizon and AT&T - Both telecom giants traded near fou-year highs following an upgrade from Credit Suisse.
Leap Wireless International - Shares jumped as investors bet that the company could be acquired by AT&T.
Sony - The stock plunged to 32-year lows as investors express doubt it can turn around its struggling TV and Smart Phone business.
Career Education - The stock tumbled as total enrollments fell more than analysts projected. The company said students were showing less interest in for-profit education.
Edwards Group - The stock jumped in its IPO debut. The company makes vacuum pumps for the semi conductor industry.
Ignite Restaurant Group - The stock surged in its IPO debut. The Houston based restaurant group operates Joe’s Crab Shack and Brick House Tavern.
Roundy’s - The stock down more than 10 percent after the retail grocer lowered its 2012 earnings forecast amid sluggish consumer spending and increased price competition.
AVG Technologies - The stock up surged after the company handily topped first quarter expectations and forecast a strong full year. AVG is know for its free suite of anti-virus products. AVG shares had fallen 20 percent until Thursday’s close.
Towerstream - The broadband service provider fell as much as 10 percent after posting a bigger-than-expected quarterly loss as expenses rose.
Arena Pharmaceuticals - The stock nearly doubled after an FDA panel of experts recommended approvalof the company’s obesity pill. Shares of
Rival Vivus and Orexigen Therapeutics , which have obesity drugs in pipeline, were also higher.
JPMorgan - Citigroup , Goldman Sachs, Morgan Stanley, continued to trade lower, hurt by JPMorgan’s trading loss. Meanwhile, Bank of America moved slightly higher.
Major European banks including Barclay’s , Royal Bank of Scotland and HSBC also declined amid added pressure from British regulators to toughen financial oversight in the wake of JPMorgan’s trading losses at its London operations.
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