Shares of Lexmark International Inc. (NYSE: LXK), a developer, manufacturer and supplier of printing, imaging, document workflow and content management solutions for the office, saw a huge rally in trading today.
LXK shares surged after the company announced restructuring actions that are expected to result in annualized savings of $95 million once implemented.
LXK shares rose to an intra-day high of $22.75 in trading today before finishing the day 13.73% higher at $21.62 on above average volume of 13.20 million. Year-to-date, LXK shares have fallen 34.62%, underperforming the S&P 500.
Shares of Polypore International Inc. (NYSE: PPO), a global high technology filtration company engaged in the development, manufacturing and marketing of specialized microporous membranes used in separation and filtration processes, plunged in trading today.
PPO shares fell after reports that automaker General Motors Co. (NYSE: GM) plans to temporarily halt production of Chevrolet Volt, which uses PPO’s lithium battery separators.
PPO shares fell to a 52-week low of $30.62 in trading today before finishing the day 7.65% lower at $31.39 on above average volume of 3.30 million. Year-to-date, PPO shares have fallen 28.64%, underperforming the S&P 500.
Shares of Molycorp Inc. (NYSE: MCP), a Greenwood Village, Colorado-based company owning developed rare earth projects outside of China, surged in trading today.
MCP shares rallied after the company announced the start-up of its new Project Phoenix heavy rare earth concentrate facilities at Mountain Pass, California.
MCP shares rose to an intra-day high of $10.89 in trading today before finishing the day 12.92% higher at $10.75 on above average volume of 18.64 million. Year-to-date, MCP shares have fallen 55.17%, underperforming the S&P 500.
Shares of Nokia Corporation (ADR) (NYSE: NOK), a communications equipment company, fell sharply in trading today. NOK shares fell to an intra-day low of $3 in trading today before finishing the day 6.77% lower at $3.03 on above average volume of 71.30 million. Year-to-date, NOK shares have fallen more than 37%, underperforming the S&P 500.
Shares of PVH Corp. (NYSE: PVH), an apparel company owning brands such as Calvin Klein, Tommy Hilfiger, and Van Heusen, rose sharply in trading today.
PVH shares rose after the company reported higher net income for the second quarter. PVH’s second-quarter net income rose 31% on a year-over-year basis, driven by stronger sales of its Tommy Hilfiger and Calvin Klein brands.
PVH reported net income of $87.7 million, or $1.19 per share for the second quarter, compared to $66.7 million, or $0.92 per share reported for the same period in the previous year. Excluding one-time items, PVH reported earnings of $1.25 per share for the quarter, beating Street estimates of $1.20 per share. PVH’s revenue for the quarter rose from $1.33 billion to $1.34 billion. Analysts had forecast second-quarter revenue at $1.33 billion.
PVH shares rose to a 52-week high of $94.74 in trading today before paring some of the gains to finish the day 4.84% higher at $92.77 on above average volume of 3.02 million. Year-to-date, PVH shares have gained 31.61%, outperforming the S&P 500.
Shares of Qihoo 360 Technology Co. Ltd. (NYSE: QIHU), a company engaged in the operations of Internet services and sales of third party anti-virus software in the People’s Republic of China, fell sharply in trading today.
QIHU shares fell to an intra-day low of $21.05 in trading today before finishing the day 6.22% lower at $21.55 on above average volume of 4.76 million. Year-to-date, QIHU shares have gained 37.35%, outperforming the S&P 500.
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