Shares of Family Dollar Stores Inc. (NYSE: FDO), a Matthews, North Carolina-based company operating a chain of over 7,400 general merchandise retail discount stores in 45 states, are sinking in trading today. At last check, FDO shares were trading 11.96% lower at $56.38 on above average volume of 11.88 million. The stock hit an intra-day low of $53.03 earlier today.
FDO shares have tumbled after the company reported weaker-than-expected earnings for the first quarter of fiscal 2013. The company also lowered its earnings forecast for the full fiscal year.
Shares Transocean Ltd. (NYSE: RIG), an international provider of offshore contract drilling services for oil and gas wells, have risen sharply in trading today. At last check, RIG shares were trading 6.77% higher at $49.37 on above average volume of 9.87 million. The stock touched an intra-day high of $49.90. RIG shares have gained more than 11% in the last three trading sessions.
RIG shares are soaring after the company agreed to pay $1.4 billion to settle charges related to the Gulf of Mexico oil spill. The company reached the settlement with the Department of Justice.
Shares of Mellanox Technologies Ltd. (NASDAQ: MLNX), a fabless semiconductor company, have tumbled in trading today. At last check, MLNX shares were trading 16.72% lower at $50.96 on above average volume of 7.31 million. The stock fell to an intra-day low of $49.11 earlier today.
MLNX shares are sinking today after the company lowered its fourth-quarter revenue outlook. The company expects fourth-quarter revenue to be between $119 million and $121 million, compared to previous forecast of $145 million to $150 million. MLNX cited weaker demand environment, challenging macroeconomic conditions, and a technical issue associated with FDR 56Gb/s InfiniBand cabling as the reasons for the downward revision.
Shares of Hormel Foods Corporation (NYSE: HRL), a company engaged in the production of a variety of meat and food products and the marketing of those products throughout the U.S. and internationally, are up sharply in trading today. At last check, HRL shares were trading 3.53% higher at $33.14 on above average volume of 2.39 million. The stock hit a 52-week high of $33.82 earlier today. HRL shares have gained nearly 8% in the last three trading sessions.
HRL shares are gaining after the company today announced that it will acquire the Skippy® peanut butter business from Unilever United States Inc. Jeffery M. Ettinger, Chairman, President and CEO of Hormel Foods said that the acquisition of the Skippy peanut butter business represents a significant opportunity for the company.
Shares of Masimo Corporation (NASDAQ: MASI), a developer, manufacturer, and marketer of noninvasive patient monitoring products, are down sharply in trading today. At last check, MASI shares were trading 7.67% lower at $19.69 on above average volume of 1.36 million.
Shares of Lexmark International Inc. (NYSE: LXK), a developer, manufacturer and supplier of printing, imaging, document workflow, and content management solutions for the office, are soaring in trading today. At last check, LXK shares were trading 7.91% higher at $26.07 on above average volume of 1.68 million.
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