The stock market is up Friday on plans for the European Union plans to directly lend to targeted banks. The Dow Jones Industrial Average is up 1.66%, the S&P 500 is up 1.80% and the Nasdaq is up 2.13%. Today’s market winners include a company who could receive a solid windfall off of a purchase of Grupo Modelo and another pharmaceutical company with investors taking advantage of the low share price. Meanwhile, weak earnings by two large companies forced them into the biggest losers category.
Here are Friday’s biggest winners and losers.
Shares of Constellations Brands (NYSE: STZ) are up 21.99% to $26.55 on trading volume of 4.4 million shares. The company, which has a joint venture with Grupo Modelo to import beer, could receive a large windfall after Anheuser-Busch InBev (NYSE: BUD) announced its intention to take full control of the company. Before Friday, the 52-week high was $24.87.
Shares of Synta Pharmaceuticals (NASDAQ: SNTA) are up 14.73% to $5.53 on trading volume of 1.5 million shares. Shares fell about 30% Thursday after the company announced mixed results from a study of ganetespib, its lung cancer drug. Shares are likely up due to investors taking advantage of the low price. Yesterday’s closing price of $4.82 is still well off of the 52-week low of $3.02.
Shares of Research in Motion (NASDAQ: RIMM) are down 18.29% to $7.45 on trading volume of 22.8 million shares. The device maker announced an adjusted earnings per share loss of 37 cents. The firm also announced it was cutting 5000 jobs by the end of the year and will delay the launch of the Blackberry 10. Before Friday, the 52-week low was $8.83.
Shares of Nike (NYSE: NKE) were down 10.24% to $86.95 on trading volume of 8 million shares. Earnings for the company dropped 8% in the fourth quarter compared to the year earlier period. The 52-week low of the stock is $76.98.
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