Diamonds and Dogs
5/16/13Advanced Micro Devices Inc. (AMD)
Advanced Micro Devices is trading lower today, down 12.56% at $3.83. The microchip maker is trading in the red after Goldman Sachs hurt the company with a downgrade. Goldman downgraded AMD after the company had made a great run over the last week. Goldman's reasoning behind the downgrade was, "as has been the case with many of the other rallies in AMD, which have all faded, ultimately, the numbers do not justify the move in the stock. We believe this will again be the case as we expect continued disappointing results in the PC segment to mitigate the impact of increased revenue from gaming," AMD is still trading in the middle of its 52-week range of $1.81-$6.46.
Eagle Bulk Shipping Inc. (EGLE)
Eagle Bulk Shipping is soaring high today, up 51.68% at $5.40. The bulk cargo shipping company saw its shares jump after better than expected earnings. Adjusted earnings per share increased to $0.08 in the quarter versus EPS of $-1.12 in the year-earlier quarter. Revenue also rose 37.25% to $72.22 million from the year-earlier quarter. Analysts were expecting an EPS of $-2.1 on revenue of $38.27 million. The wide beat on earnings pushed volume to 11 million shares (average is 435,000 shares), and also pushed shares to a new 52-week high of $5.93 intraday.