Shares of Hess Corp. (NYSE: HES), a global integrated energy company, have risen sharply in trading today after the company announced that it will pursue the sale of its terminal network in the U.S. The company also said that it will complete its exit from the refining business by shutting down its refinery in Port Reading, New Jersey.
The terminal network HES plans to sell is located along the East Coast and has a total of 28 million barrels of storage capacity in 19 terminals. John Hess, Chairman and CEO of Hess, said that by closing the Port Reading refinery and selling its terminal network, the company will complete its transformation from an integrated oil and gas company to one that is predominantly an exploration and production company.
HES shares rose to an intra-day high of $63.76 in early trading today. At last check, the stock was trading 4.58% higher at $61.60 on above average volume of 4.75 million.
Shares of JoS. A. Bank Clothiers Inc. (NASDAQ: JOSB), a designer, manufacturer, retailer and direct marketer of men’s tailored and casual clothing accessories and a retailer of tuxedo rental products, have fallen sharply in trading today after the company warned on fiscal 2012 earnings.
The company said that its fiscal 2012 net income is expected to be around 20% lower than net income in fiscal year 2011. R. Neal Black, President and CEO of JoS. A. Bank Clothiers, said that total company sales for the year will be up, but not enough to offset higher marketing expenses and lower gross margin. Black said that the company is disappointed that it is not able to drive the sales it had expected.
JOSB shares fell to a 52-week low of $37.54 after the company’s disappointing outlook. At last check, the stock was trading 18.19% lower at $37.85 on above average volume of 2.08 million.
Shares of Aruba Networks Inc. (NASDAQ: ARUN), a provider of next-generation network access solutions for mobile enterprise networks, are up sharply in trading today.
At last check, ARUN shares were trading 5.29% higher at $23.87 on volume of 1.50 million. The stock rose to an intra-day high of $24.05 earlier today. ARUN shares have gained nearly 9% in the last three trading sessions.
Shares of 3D Systems Corporation (NYSE: DDD), a holding company 3D content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers, are sinking in trading today.
At last check, DDD shares were trading 11.44% lower at $61.17 on above average volume of 3.98 million. The stock fell to an intra-day low of $61.24 earlier today. Despite the sharp decline today, DDD shares have gained more than 21% in the last one month.
Shares of Apple Inc. (NASDAQ: AAPL), the maker of iPhones and iPad, are bouncing back in trading today after falling sharply last week. Apple shares had tumbled last week after the technology giant reported disappointing quarterly results.
At last check, AAPL shares were trading 2.38% higher at $450.37 on volume of 10.88 million. The stock hit an intra-day high of $451.70. AAPL shares are still down 12.5% in the last three trading sessions.
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