Hot Stocks This Afternoon: MDR, BAC, F, MWW, MS, SPLS

Wall Street

Stocks continue to trend slightly higher in afternoon trading as investors react to economic news from this morning. Jobless claims fell slightly last week to 351,000, 2,000 less than the prior week’s revised total. The market lost most of its early gains after manufacturing data fell below expectations. Stocks are still in positive territory this afternoon with the Dow up 45 points, the Nasdaq is up 27 points and the S&P 500 is up 10 points.

McDermott International, Inc. (NYSE:MDR) is up 16% today at $15.15. McDermott shares are up today despite posting disappointing fourth quarter results yesterday. The company’s EPS missed estimates by $0.16 per share and also missed on revenue. Guidance for fiscal year 2012 was in-line with analyst estimates. MDR has traded 8.9 million shares so far today, more than double its average volume of 3 million shares. The company has a market cap of 3.57 billion.

Bank of America Corporation (NYSE:BAC) is up 1.82% today at $8.11. BAC was as high as $8.17 earlier today on 137 million shares in volume. Volume seems a little low today as BAC usually trades 278 million shares a day. Bank of America is looking to bring back fees to its customers. The bank is considering adding a fee for the use of its bank checking account, aka an “Essentials” account. The last Bank of America tried to add more fees they faced significant customer backlash. The company has a market cap of 87.94 billion.

Ford Motor Company (NYSE:F) is up 2.75% today at $12.73. F is trading above average volume today with 51.6 million shares traded so far today. Ford reported February sales jumped 14.4% compared to last year in the U.S. The company sold 179,119 Ford and Mercury vehicles for the month. The Ford Escape set a February sales record with 18,666 sold. The company has a market cap of 48.39 billion.

Monster Worldwide, Inc. (NYSE:MWW) is up 9.10% this afternoon at $7.60. MWW has traded 20.6 million shares so far today, well above its daily average of 3.4 million shares. MWW shares are up today on rumors the company may be trying to sell itself. The company has a market cap of 912.20 million.

Morgan Stanley (NYSE:MS) is up 3.40% in afternoon trading at $19.17. MS has traded 21.1 million so far today and trades 26.8 million shares a day on average. MS shares have traded higher today as it follows the overall market uptrend. The company has a market cap of 36.86 billion.

Staples, Inc. (NASDAQ:SPLS) is up 3.96% today at $15.24. SPLS is up on heavy volume today with 15.1 million shares traded, nearly twice its daily average. SPLS shares are bouncing back today after falling yesterday on weak outlook. The company has a market cap of 10.66 billion.

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About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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