Stock Market Rallying, Afternoon Movers: SMBL, PCS, LVLT, TSL, FSLR, CIE


Stocks are rallying some today as better than expected news from the jobs market helped keep investors’ minds off some poor earnings. Jobless claims came in at at 351,000, below analysts’ estimates. The Dow is up 50 points right now, the Nasdaq is up 23 points and the S&P 500 is up 5 points.

Smart Balance Inc. (NASDAQ:SMBL) is up 19.73% today at $6.7650. Smart Balance is rallying today after posting good fourth quarter results this morning. The company beat EPS estimates by $0.02 and beat revenue. Smart Balance reported earnings of $0.07 per share and revenue of $83.9 million. The company has a market cap of 396.08 million.

MetroPCS Communications, Inc. (NYSE:PCS) is rallying 14.25% today at $11.74. PCS shares are up thanks to fourth quarter results that beat expectations. PCS reported EPS of $0.25 per share on revenue of $1.24 billion. PCS has traded 13.1 million shares today, well above its daily average of 4.3 million shares. The company has a market cap of 4.28 billion.

Level 3 Communications, Inc. (NYSE:LVLT) is up 12.88% today at $23.58. LVLT shares are bouncing today after Morgan Stanley upgrades the stock to overweight. LVLT is up on heavy volume with 5.8 million shares traded so far today, well above its daily average volume of 1.6 million shares.

Trina Solar Limited (NYSE:TSL) is down 12.81% today at $8.25. TSL is down on above average volume today with 6.8 million shares so far today, 2 million shares more than its average. Trina Solar posted fourth quarter results today and beat estimates on revenue but its loss widened causing the share price to fall. The company has a market cap of 603.61 million.

First Solar, Inc. (NASDAQ:FSLR) is down 8.16% this afternoon at $37.15. Solar stocks are getting hit across the entire sector today after Germany announced it plans to cut 29% from subsidies. FSLR has traded 7.4 million shares so far today, nearly double its average volume. The company has a market cap of 3.23 billion.

Cobalt International Energy, Inc. (NYSE:CIE) is down 8.38% today at $29.15. CIE is down on heavy volume with 5.7 million shares traded, more than double its average volume. CIE shares took a dive today after posting a bigger than expected loss. Cobalt International also recently announced a plan to sell 15.7 million new shares. The company has a market cap of 11.32 billion.

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About MarcS

An experienced trader with a background in political science, Marc got his start as an individual trader surfing the old stock message boards. He is always on the lookout for the next big winner.

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