High Volume Stock Tankers (GS, MS, DWT, CRDN, ACF, PRXL)
We are seeing many high volume price drops in actively traded shares today. In most cases, the earnings are to blame, but there are other issues affecting some stocks as well. Goldman Sachs Group (NYSE: GS), Morgan Stanley (NYSE: MS), Britannia Bulk Holdings Inc. (NYSE: DWT), AmeriCredit (NYSE: ACF), Ceradyne Inc. (NASDAQ: CRDN), and Paraxel International Corp. (NASDAQ: PRXL) are all being hit on strong trading volume. Below are links for a full synopsis on each.
Goldman Sachs Group (NYSE: GS) and Morgan Stanley (NYSE: MS) have beenbeaten and battered. Some of the drop is rumor, and some is tradersattacking what they can after determining their de-leveraged models arelikely to result in much lower income. FULL SYNOPSIS
Britannia Bulk Holdings Inc. (NYSE: DWT) looks like it is dead meat.The company got everything wrong from operations tohedges and gave a dire warning to common stock holders. Keep granny’smoney out. FULL SYNOPSIS
AmeriCredit (NYSE: ACF), Ceradyne Inc. (NASDAQ: CRDN), and ParaxelInternational Corp. (NASDAQ: PRXL) are all down sharply on earnings.FULL SYNOPSIS
Jon C. Ogg
October 28, 2008