Morning Movers (LCAV, KORS, RAX, ZIP, MAS)
The three major US equities indexes opened lower this morning following debt rating downgrades to six European countries last night and a somewhat lighter than expected bump in US retail sales. In the first half hour of trading, the DJIA…
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There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include LCA-Vision Inc. (NASDAQ: LCAV), Michael Kors Holdings Ltd. (NYSE: KORS), Rackspace Holdings Inc. (NYSE: RAX), Zipcar Inc. (NASDAQ: ZIP), and Masco Corp. (NYSE: MAS).
LCA-Vision is up more than 17% at $6.91. Volume is about already more than double the daily average of about 98,000 shares traded. The LasikPlus provider reported a narrower-than-expected loss this morning.
Kors is up nearly 20% at $40l.22 after posting a new 52-week high of $41.32 earlier this morning. Volume is already 150% of the daily average of 2.2 million shares traded. The apparel company posted better-than-expected earnings this morning and forecast current quarter earnings above estimates..
Rackspace is up nearly 10% at $54.03 after posting a new 52-week high of $54.45 earlier. Volume is already about 130% of the daily average of about 1.6 million shares traded. The Internet hosting company beat fourth-quarter revenues and earnings estimates and one analyst raised the company’s stock to ‘buy’.
Zipcar is down nearly -15% at $13.76. Volume is already more than double the daily average of around 400,000 shares traded. The car rental company posted earnings mostly in-line with estimates, but the forecast for the current quarter was weaker than expected.
Masco is down more than -12% at $11.62. Volume is already more about 80% of the daily average of about 5.4 million shares traded. The home improvement and building products company missed revenues and earnings estimates in its fourth quarter.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.