Shares of Sprint Nextel Corporation (NYSE: S), the No. 3 U.S. wireless carrier, are seeing a huge rally in trading today. At last check, Sprint shares were trading 14.09% higher at $5.75 on above average volume of 92.14 million. The stock hit a 52-week high of $5.98 in trading today.
Sprint shares are soaring in trading today after the Wall Street Journal reported that the company is advanced talks to be acquired by Japan’s Softbank.
Shares of Safeway Inc. (NYSE: SWY), a food and drug retailer in North America, are down sharply in trading today. At last check, SWY shares were trading 3.62% lower at $15.70 on volume of 1.27 million. The stock hit an intra-day low of $15.
SWY shares are falling after the company reported its third-quarter financial results. The company reported third-quarter net income of $157 million, or $0.66 per share, compared to $130.2 million, or $0.38 per share reported for the same period in the previous year. Sales and other revenue for the quarter fell 0.2% to $10.05 billion, falling short of Street estimates of $10.24 billion.
Steve Burd, Chairman and CEO of Safeway, said that the incremental sales driven by just for U helped to offset lower inflation in the third quarter and improve volume share.
Shares of Winnebago Industries Inc. (NYSE: WGO), a manufacturer of recreation vehicles (RV) used in leisure travel and outdoor recreation activities, are up sharply in trading today. At last check, WGO shares were trading 3.11% higher at $12.58 on volume of 40,217. The stock hit an intra-day high of $12.86.
WGO shares are soaring after the company reported its fourth-quarter and fiscal year 2012 financial results. For the quarter ended August 25, 2012, WGO reported revenue of $162.5 million, representing an increase of 24.5% over the same period in the previous year. The company’s operating income for the quarter was $6.5 million, compared to $1.8 million reported for the same period in the previous year. Net income for the quarter was $40.9 million, or $1.41 per share, compared to $3.5 million, or $0.12 per share reported for the same period in the previous year.
Shares of Stillwater Mining Company (NYSE: SWC), a company engaged in the development, extraction, processing, smelting, refining and marketing of palladium, platinum and associated metals from a geological formation in south-central Montana, the J-M Reef, and from the recycling of spent catalytic converters, are down sharply in trading today.
At last check, SWC shares were trading 7.18% lower at $11.25 on volume of 1.07 million. The stock fell to an intra-day low of $11.10 in trading today.
SWC shares are down sharply in trading today after the company announced that it plans to offer $300 million aggregate principal amount of convertible senior notes due 2032. The company plans to use the net proceeds from the offering to repay amounts that may come due under its outstanding 1.875% convertible debentures in March 2013.
Shares of Cooper Tire & Rubber Company (NYSE: CTB), a manufacturer and marketer of replacement tires, are soaring in trading today. At last check, CTB shares were trading 7.65% higher at $20.12 on volume of 960,576. The stock hit an intra-day high of $20.76 in trading today.
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