RSH, AAPL, ASTE, WMGI, CNK, WIN, DFS, AXP, COF Popular Stocks
U.S. stocks traded higher Monday, with the Dow Jones Industrial Average rising 1.75% to 10199, the S&P 500 up 1.81% to 1089 and the Nasdaq Composite gaining 1.64% to 2147.
RadioShack’s (NYSE:RSH, $20.48, +$2.74, 15.42%) shares jumped to a 52-week high in early trading Monday amid expectations that the addition of Apple Inc.’s (NASDAQ:AAPL, $200.47, +$6.13, 3.15%) iPhone to RadioShack’s stores will boost earnings and longer-term prospects to expand its wireless business.
Astec Industries Inc. (NASDAQ:ASTE, $26.48, +$2.23, 9.20%) has underperformed the market, and therefore the road-construction equipment maker is relatively cheap, says Baird in upgrading the stock to outperform from neutral. The firm says it’s a good time to accumulate the shares as it expects Astec will benefit from a new multi-year U.S. highway funding legislation.
Wright Medical Group Inc. (NASDAQ:WMGI, $18.65, +$1.08, 6.15%) said Monday that the U.S. Food and Drug Administration has finally approved the company’s “Conserve Plus” system for bone-saving hip-resurfacing surgery, capping a protracted wait. The company filed for FDA approval in early 2004 and has been in regulatory limbo since then, with little explanation behind the reason for delay.
Cinemark Holdings Inc. (NYSE:CNK, $12.15, +$0.42, 3.58%) posted a surprise 2.8% increase in third-quarter profit as revenue also beat projections amid continued attendance growth at the movie-theater operator.
Windstream Corp.’s (NYSE:WIN, $10.04, -$0.24, -2.34%) third-quarter profit fell a larger-than-expected 24% as margins and revenue fell. Chief Executive Jeff Gardner said, however, that the rural telecommunications company saw “solid broadband customer growth and our lowest line loss since we formed the company in 2006.”
Credit-card companies’ shares rose, a move one analyst attributed to comments made last week regarding the end of the credit downturn. Discover Financial Services (NYSE:DFS, $15.36, +$0.84, 5.75%), American Express Co. (NYSE:AXP, $38.99, +$1.78, 4.78%) and Capital One Financial Corp. (NYSE:COF, $39.67, +$2.00, 5.31%) were among the gainers.
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